Northern Virginia Real Estate Blog, Carolyn Capalbo

Northern Virginia at a Glance (focusing on Fairfax, Loudoun, and Prince William Counties)

Our current market is divided into price segments or price tiers and several geographic zones.  The closer you are into the DC metropolitan market the higher the price point by a substantial amount.  In general we are witnessing a very strong Seller’s market on property priced below $417,000.  Prices are rising on the entry level and inventories are at 15 year lows.  We are experiencing multiple offer scenarios and escalating offers.  Buyers are waiving inspections; however, most are not waiving appraisals.  We are seeing many instances of contract values being pushed downward by lower than contract value appraisals.  The average entry level buyer in today’s market

1,534 Views, 0 Comments

This past week I had the opportunity to attend the 5 Star Default Servicing Conference.  The 5 Star Conference, to me, is about education.  How can we do our business if we do not have the necessary cutting edge information to support and service the default community?  Many banks and outsourcers recognize the agents that come to 5 Star in order to learn and keep current.  The information at 5 Star was excellent.  Steve Forbes' keynote address hit home with me.  It was an opportunity to catch a glimpse of this amazing visionary's economic forecast and viewpoint.   His message was one for allowing markets to correct on their own without large scale intervention.  Interventions he said would lead to an extended and slower recovery.  From my conversation

1,760 Views, 0 Comments

Today’s edition of The Realty Times showcases an article by Anthony Carr regarding the red hot real estate market surrounding Quantico Marine Base.  I am glad that someone has recognized that this market is no longer a Buyer’s market.  The area surrounding Quantico Marine base, particularly Dumfries and Triangle had been very hard hit over the last 2 years by foreclosures and plummeting prices.  Recently, however, we have seen a dramatic shift in the local market.  Current inventory in the area is woefully low.  The author of the article reflected a 2 months’ supply, I would argue that it is actually less than that.  Current inventory is so low that all properties, regardless of condition seem to find themselves with offers, many times multiple offers. 

2,186 Views, 0 Comments

Apparently, there are four Carolyn Capalbos currently in the United States, but one is particularly famous. Here is my tale about how another Carolyn Capalbo and her daughter are impacting my life.

Let's go back to March 12, 2008. My husband Steve and I were enjoying a late afternoon snack of wings at Glory Days in Gainesville, while the kids were doing extra-curricular activities at school. My phone started ringing off the hook, even a bit more than usual (my phone rings constantly). Anyway, I picked up on one of the calls and answered the phone like I always do: "Hi this is Carolyn." The woman on the other side asked if this was Carolyn Capalbo, and I said yes. Then she asked me if I was Ashley's mother. Now

20,997 Views, 18 Comments

I received a recent email from one of my REO clients telling me that their company has just lifted their self imposed foreclosure moratorium.  This is the same information that I have also received from two other REO clients.  All of which have said "enjoy the break," the floodgates of foreclosure inventory is going to open soon.  My current marketplace's inventory is very low and the shortfall has caused a recent rebound to local prices over the past 90 days.  Multiple offers per property is standard and values are escalating above their asking prices.  Due to the recent jump in prices, we are seeing issues with appraisals not quite coming up to the new market pricing.  First time buyers are starting to worry that they won't be able to find a property in

1,500 Views, 1 Comment

That's an alarming number.  What does this mean to me and my neighborhood?  While this is a national number, this could impact our local communities greatly.  With over 12% of all mortgages in the US currently delinquent, and foreclosures are happening at a rate of one every 13 seconds, homeowners need to be concerned about another potential shift in market values.  In our area of Northern Virginia, we have seen a recent shift from a Buyer's market to a Seller's market.  Multiple offers and escalating prices have dominated our marketplace over the past 90 days.  Will an increase in foreclosure inventory be met with an available, ready, willing and able Buyer Pool?  That is the question.  Let me know what you…
1,476 Views, 0 Comments

Hi all,
 
I hope everyone is doing well.  There have been some interesting developments in the financial and housing markets here in the area.  My  collegue, Mike Farrell, summarizes the recent changes below.  Please don't hesitate to contact me regarding questions that you may have.  The market here in Northern Virginia is selling.  Prices have come down; however, the affordability index is excellent.  The market is no longer a local Buyer's market...multiple offers are common place.  Competition is fierce for well priced properties...Let me know if you are interested in additional market information...
 
Excerpt from Mike Farrell's recent update on Feb 16, 2009:
 
Mortgage rates are still at an all time low and it is still a great time to buy a home. 

1,353 Views, 0 Comments

Hi all,
 
Busy month for the Capalbo Team!  Houses are selling and quickly!  Interest rates are down at incredible levels.  First time home buyers are out in numbers taking advantage of distressed inventory, great deals and great interest rates.  Inventory is actually down.  And finding a home is not necessarily easy.  If you need to move quickly, start looking now.  The inventory is low and in some areas, we are seeing multiple offers and competitive bidding for homes.  On the other side of the coin, economic data is pointing to a continued downturn in the economy.  Unemployment is rising, consumer confidence is falling.  We are seeing and helping families that are in need of assistance and advice on how to cope with these difficult times.  If you or…
1,398 Views, 0 Comments

Hi Everyone,
 
The Presidential Election has been extremely passionate this year.  Controversy, emotions, and varied opinions have been highlighted by the media for the past year.  Concerns over the stock market, housing, foreign affairs and taxes have been brought to the forefront by these elections.  In truth, I can't remember an election where I have been bombarded with so many auto-dialed messages and polling.  Whether you are a Democrat, Republican, Independent or other party it is amazing to have the freedom and the opportunity to express your views, emotions, and concerns about our government.  I am proud that we can vote and choose our own government.  I hope that you had the opportunity to express your views and get out the vote.
 
The housing…
1,381 Views, 0 Comments

October is here!  It is a time for football, Oktoberfest, Halloween and lots of leaves.  My family is doing quite well.  My knee continues to heal and we are counting down the days until the triplets get their driver’s permits.  Thanks for all the advice, prayers and good wishes.  I truly hope all is well with you and yours.  Please keep me posted and up to date with your family happenings.  I would love to hear from you.

 

There is tremendous turmoil and uncertainty in today’s markets.  The Federal Government has passed a bailout plan that is unprecedented.  Many families are facing financial crisis and are concerned about what the future holds.  My team has been instrumental in helping families through hard times, and advising others on

1,337 Views, 0 Comments