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82 Harmony Lane, Bluemont, VA

Mountain Oasis in Bluemont

Fantastic custom built home located on 2.5 picturesque acres! Updated throughout, granite counters in kitchen and all bathrooms, new kitchen appliances. Trex deck off kitchen is the perfect place for entertaining or relaxing. Hardwood flooring throughout main level, vaulted ceilings in entryway give home light and open feeling. Partially finished basement with full bath could be used as additional bedroom. Upgraded Anderson windows and doors throughout home. Attached garage has upgraded 9ft doors to accommodate larger vehicles. Lower detached 30x40 garage is insulated and has electricity, a mechanic's dream garage!
Offered for $620,000


203 DUNDRIDGE DR WHITE POST, VA 22663

Contemporary single family home located on a private 5 acre wooded lot. Interior balcony overlooks spacious living room. Large wrap-around porch. Living room features wood burning stove. Three bedrooms, one located on main level and finished basement

Home is professionally managed

Offered for $2250/month, will be ready for new occupants early July

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Why Home Prices Are Still Rising Despite the Global Pandemic

To say the economic news coming out lately has been disconcerting would be an understatement. Statistics concerning job losses, furloughs, and unemployment figures have pointed to upheaval in the global economy as a result of social distancing measures, which were put in place by governments to contain the global COVID-19 pandemic.

But according to recent data from Realtor.com, there is one statistic that should give homeowners (especially potential sellers) some comfort—home prices still appear to be on the rise. In the week ending April 25, the median home list price ticked up by 1.6% annually, compared to one year ago. The data comes from the 99 largest metropolitan areas.

To be sure, price growth was higher a few months ago, when prices were rising by over 4% prior to the lockdown. But this is still a positive sign given the turmoil in other segments of the economy, and could provide reassurance about the stability of the housing market for those considering buying or selling their property.

So why do housing prices appear to be holding steady despite uncertainty in the broader economy?

First, it could be that prices are “sticky”, according to Realtor.com Chief Economist, Danielle Hale:

“The slight increase this week is because prices are sticky. Home sellers are strongly resistant to lowering prices, and they’d gotten really close to declining, so we see a bounce-back. I don’t think this is a return to big price increases.”

The second reason might have to do with the reduction in inventory. The number of homes for sale has been on the decline for years, leading to a much publicized housing shortage in many parts of the country. Low inventory and high demand tends to drive prices up as more buyers compete for fewer houses.

And, after the pandemic hit, available inventory has plummeted. Some estimates put the decline of annual inventory at upwards of 17% compared to last year. Meanwhile, according to the Realtor.com data, the number of new listings has plummeted by a whopping 43.1%.

People are pulling their homes off the market, or waiting to list them because they’re worried about their own economic prospects, concerned with moving during such an uncertain time, or believe that the health risk of having strangers visiting their property isn’t worth it. In any event, listings have slowed, which has helped keep prices of homes that are on the market fairly high.

So, despite the constant deluge of health and economic news, home prices appear to be holding steady. This is good news for anyone who is considering selling, or wants confidence that they’ll be buying a home that has value. It might also give buyers and sellers an edge in a market where many others are choosing a “wait and see approach.”

As always, if you’re thinking about buying or selling a property, or have any real estate questions at all, don’t hesitate to reach out. Even during these difficult times, there are still great opportunities for sellers and buyers.

202 Occoquan Terrace, Leesburg, VA

Located 2 blocks from Old Town Leesburg, shops, and restaurants! 1 block to W&OD trail! Updated end unit townhome. 3 bedrooms, large kitchen with stainless appliances, ceramic tiles, and granite counters. Spacious deck overlooks fenced backyard. Brand new carpeting and paint throughout!

Offered for $2300/month

**Home has been rented**

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13143 Melville Lane, Fairfax, VA

Stunning renovated home for rent in desirable Greenbriar neighborhood. Updated throughout, open kitchen features stainless appliances and granite counters. 

Four bedrooms and three full baths, brick front wood burning fireplace in basement. Fenced backyard and cement patio for entertaining space. 

Offered for $2950/month. Lawncare included in rent! Sorry, no pets

Presented by Meghan Pachas, agent related to owner

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