Quick Review of Selective Homes Recently Sold

1st Property:  Address:152 Alpine Drive, Leesburg, VA 20175

Listed Price:  $550,000 Sold Price: $514,990 Taxes: $4,200 (2007) Days On Market: 112 Property Basics: Type: Colonial, 4 BR, 2.0 Baths, Year Built: 2006, House SF: Approx 2,700, Lot SF: 7,976 Additional Details: Almost new house in very desirable development, Evergreen Meadows. 2-Car Garage, Finished lower level, French Doors, Den, Gourmet Kitchen, Gas Fireplace, 2 Master BR Walk in closets.

Steve’s Comments- The homes in Evergreen Meadows were built to sell in the $600,000 to $750,000 range. This sale appears to be very advantageous for the buyer. Using a hypothetical original price of $650,000, the sold price of $514,990 represents a 22% discount. When the market turns around, the buyer should soon be well ahead.

2nd Property:  Address:43081 Capri Road, Leesburg, VA 20148

Listed Price: $475,000  Sold Price: $435,000 Taxes: $3,900 (2007) Days On Market: 210 Property Basics: Type: Colonial, 4 BR, 2.5 Baths, Year Built: 2006, House SF: 2,988, Lot SF: 8,276 Additional Details: 2-Car Garage, Finished lower level, Plumbed for  full bath, Walk out, Brick front, Expensive neighborhood, near Greenway.

Steve’s Comments- This nearly new home was owned by a bank due to foreclosure. It originally sold for over $600k. An exceptional buy. It will prove to be a very good investment when the market returns to normal.

3rd Property:  Address:40818 Red Hill Road, Leesburg, VA 20175

Listed Price: $579,990 Sold Price: $480,000 Taxes: $3,990 (2007) Days On Market: Property Basics: Type: Rambler (brick), 4 BR, 2 Baths, Year Built:1985, House SF: 2,225, Lot SF: 12,197 Additional Details: All brick, New roof, tilt-in windows, central air, kitchen (from top to bottom) deck, fenced yard, finished basement, shed, off-street parking.

Steve’s Comments- This is a typical county single level brick rambler with basement and large yard. A one-owner retiring-couple home in good condition. Most of the heavy lifting has been done; roof, kitchen, central air and heating plant, windows, painting, carpets, so home is in move-in condition. This home is situated in an older, quieter, mostly adult subdivision. Nice buy if you don’t require curbs, street lights and sidewalks.

Second Section – Trends

Close Up of Wider Area Community Trends and Issues
Leesburg General: Average Listing Price $610,000 -3% for year, Average Selling Price $460,903 +32% for year

Close By Areas:
Loudoun County in General:

Homes
  Sold Pricing
2002
3Q06
2Q07
3Q07
3-BR
$299,244
$454,878
$401,229
$372,949
4-BR
475,826
1,258,014
588,319
567,500
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