Linda French, Realtor

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McLean, VA
Linda French, Realtor

Contact information, map and directions, contact form, opening hours, services, ratings, photos, videos and announcements from Linda French, Realtor, Estate agent, 1320 Old Chain Bridge Road, McLean, VA.

07/07/2023

Take a look at this weekend's open house guide! For more information on these homes, visit mcenearney.com/open-houses-new.

07/05/2023

Take a look at the newly listed homes at McEnearney Associates! To view the full list, please visit mcenearney.com/new-real-estate-listings.

07/03/2023

Contract activity for the week of June 25 – July 1, 2023, in the Metro DC area fell by 16% compared to last year's seven-day period.

Key Takeaways:
• 30-year fixed mortgage interest rates on January 1, 2022, were 3.11%. On January 1, 2023, they were 6.5%, and contract activity was getting hammered. On July 1 of last year, rates stood at 5.7% - today, they are just under 7%. That’s a much smaller gap, and buyers are mainly getting used to the fact that rates aren’t coming down anytime soon.
• But as we have noted, that gap is too large to coax new listing activity back to normal levels. Nationally, 62% of all homeowners have a sub-4% rate, and 23.5% have a sub-3%-rate, and giving up those low rates to buy something at a higher rate isn’t in the cards for way too many would-be sellers.

Why it Matters:
• There was a 37% drop in the number of new listings (932) coming on the market last week compared to the same week the previous year (1,497). We’ve seen yet another week where there were fewer new listings than new contracts, contributing to the tight supply conditions.
• Nonetheless, the most encouraging news is that there were still almost 1,250 homes that went under contract last week.

06/28/2023

Just Sold! 🏡

Thank you to my clients for entrusting me with the sale of your home. It was a pleasure working with you every step of the way!

Looking to buy or sell? I'm here to help! Whether you're searching for the right home or ready to make a move, send me a DM to get the process started!

06/27/2023

McEnearney Associates profiles the most important market indicators for the DMV area every month!

This includes:
• contract activity
• interest rates
• inventory
• affordability
• direction of the market

The report highlights why these numbers are important and what they mean for the future of the real estate market. For a copy of the full report, visit mcenearney.com/market-in-a-minute.

06/26/2023

Contract activity for the week of June 18 - 24, 2023 in the Metro DC area fell by 14% compared to the same seven-day period last year.

Key Takeaways:
• Despite the drop in contract activity, the surest sign of the tight market is days on the market. Last week, homes going under contract were on the market for an average of 19.5 days – the same as last week when many more homes were selling.
• As we have noted before, that’s because there are so few listings. Last week there was a 51.3% drop in the number of new listings coming on the market compared to the same week the previous year, and there was also a 17.7% drop compared to just one week ago.

Why it Matters:
• With school out for summer, we’re heading into a period where there is typically a drop in contract activity as people head out of town on vacation. We don’t think this year will be any different.
• Nonetheless, we will likely see at least 1,000 homes go under contract each week, and that’s not bad.

06/20/2023

Contract activity for the week of June 11 - 17, 2023 in the Metro DC area fell by 13.4% compared to the same seven-day period last year. That’s a little better than the previous week’s 16.8% decline.

Key Takeaways:
• The current market is nothing if not consistent. The number of new buyers is lower because of high-interest rates, and the number of new sellers is even lower for the same reason. Too many homeowners with mortgages below 3% find the current rates near 7% too high to make a move.
• As we have seen almost all year, the drop in weekly new contract activity is less than the drop in new listings. This past week was no exception. Contract activity was down 13.4%, and new listing activity was off 50.3%.

Why it Matters:
• Put it all together, there are two fundamental realities in the DC metro real estate market: fewer transactions, and there isn’t enough supply to meet demand.
• While this dynamic isn’t going to change in the short run, it will change. Markets seek balance over time, and there is pent-up demand among buyers and sellers that will be unleashed when rates come down.

06/17/2023

Open House Saturday and Sunday 2-4 PM!

Welcome to 6405 14th Street East! Enter the yard through quaint wooden gates and follow the stone path to a fabulous, ultra-charming cottage in the highly sought-after New Alexandria neighborhood. Built in 1942, the home blends modern conveniences and classic details, including hardwood floors on all levels, built-in cabinets, and vaulted ceilings. On the main level is a gracious entry foyer, a chef's kitchen with custom cabinetry, Viking professional-grade range, a Sub-Zero refrigerator, a formal dining room with a large fireplace, and a living/family room with a delightful porch overlooking the Belle Haven Meadow. On the upper level are three secondary bedrooms (one with a vaulted ceiling), a laundry room, and a full bath.

A few steps up, the stunning private primary bedroom suite boasts a wall of built-in closets and vaulted ceiling + a modern full bath with a soaking tub and walk-in shower. Beautiful plantings and a delightful flagstone patio provide ample space for outdoor dining/entertaining.

Send us a DM for more information!

Address

1320 Old Chain Bridge Road
McLean, VA
22101

Telephone

+15712134685

Website

http://www.lindafrenchrealtor.com/

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