Lillian Court sits in a great location in Tysons Corner. It's right next to the Galleria Mall, and across the street from Greensboro Drive, which is home to many of the areas big employers: SAIC, BAE, Booz Allen Hamilton, and more.
In November 2008 there were 2 properties SOLD in Lillian Court.
The first was a 2 bedroom 2 bathroom home on 2 levels. It had approximately 1200 square feet in total. The home sold for $345,000 in approximately 162 days on the market.
The other home to sell in November was a one bedroom one and a half bath property. This property was only on one level. It had approximately 988 square feet. The home sold for $270,000 with a subsidy of $5,000. It sold in approximately 12 days.
No properties are showing as having RENTED in Lillian Court in November of 2008.
There are currently 3 properties For Sale in Lillian Court. There are also 5 homes available For Rent.
(data from MRIS)
Showing posts with label Rentals. Show all posts
Showing posts with label Rentals. Show all posts
Thursday, December 11, 2008
Friday, August 22, 2008
Where does the inventory go?
For a while after the market turned the rental market was somewhat HOT. Many chose not to buy, or their financial situation made it so that they weren't able to buy. Well this turned buyers into renters. And with supply and demand factors that greatly increased the demand for rental property. That was good for landlords. Many properties rented quickly, and for sizeable rents. Landlords increased rents they were asking, and often got it.
Well that same market continued, and since buyers weren't buying sellers started to have problems. If they couldn't sell what would they do? They decided to try to rent. Well some did, and many will. However, as the masses turned from selling to renting the teeter totter that is supply and demand started to change it's balance to a different direction. Now much of the inventory that wanted to sell, is renting or wanting to rent. The rental market is somewhat slower moving than the sales market as a tenant's rent is often locked in for a whole year. So it takes some time for change to occur. Well rents began to balance out, and landlords couldn't be as aggressive. Now all over we find more balanced asking rents.
Right now in the Tysons Corner area there are 58 properties for Sale
and
58 properties for Rent.
Talk about Balance. That's interesting, because in 2007 there were 207 Rented + 179 Sold in the same area.
To see what's going on in Real Estate in Tysons Corner area communities check out http://www.TysonsCorner.AgentKnowsHomes.com
Well that same market continued, and since buyers weren't buying sellers started to have problems. If they couldn't sell what would they do? They decided to try to rent. Well some did, and many will. However, as the masses turned from selling to renting the teeter totter that is supply and demand started to change it's balance to a different direction. Now much of the inventory that wanted to sell, is renting or wanting to rent. The rental market is somewhat slower moving than the sales market as a tenant's rent is often locked in for a whole year. So it takes some time for change to occur. Well rents began to balance out, and landlords couldn't be as aggressive. Now all over we find more balanced asking rents.
Right now in the Tysons Corner area there are 58 properties for Sale
and
58 properties for Rent.
Talk about Balance. That's interesting, because in 2007 there were 207 Rented + 179 Sold in the same area.
To see what's going on in Real Estate in Tysons Corner area communities check out http://www.TysonsCorner.AgentKnowsHomes.com
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