Alexandria, VA Real Estate News

By Brian Block, Northern Virginia & D.C. Real Estate
(RE/MAX Allegiance, Managing Broker/Branch Vice President)
You never expect it to hit you!Saturday night around 9:30 p.m., my condo building Alexandria Knolls West in Alexandria, Virginia was struck by lightning.  The lightning struck the roof and started a fire.  The smoke went down through the elevator shafts causing much of the hallways in the building to fill with smoke.  The fire and lightning shock destroyed an major electrical panel on the 8th floor causing it to explode through the wall and causing severe damage to a unit on the 8th floor of the 18 floor building.  The residents of the building were evacuated and not let back into the building until after midnight.  Many stayed in area hotels or with friends and relatives.  Several people including 6 firefighters were brought to the hospital for smoke inhalation problems.  Thankfully, n...
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By Tamara Inzunza, Close-In Alexandria and Arlington Living
(Realty One Group Capital)
Who knows why the real estate market has been getting so much buzz overthe past few years.  If you watch and invest heavily in stocks, you knowthat any type of media report can make a stock price go up or down.Any informed consumer is aware that we are currently in a buyers market.So many people are on the fence, but while you're on the fence renting,make sure that your lease is a month-to-month lease as opposed to along-term one year lease.Why?  Because this lack of commitment with your landlord gives you theflexibility of actively looking in the housing market and being able topull the trigger and make an offer on a home without using your lease asan excuse.The cost of a month-to-month lease, usually a couple hundred dollars extraper month.  The value of casually browsing at homes, bu...
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By Brian Block, Northern Virginia & D.C. Real Estate
(RE/MAX Allegiance, Managing Broker/Branch Vice President)
In trying to keep up with the Northern Virginia real estate market, we often focus on what has sold recently, and the current inventory of homes on the market. An often overlooked factor in determining pricing of homes for sale is to examine expired listings, or the homes that have NOT sold during a particular period in a certain area.  Analyzing the homes that have not sold can be an important step in pricing your home for sale properly. Why don’t homes sell?  In Northern Virginia, as elsewhere around the state and the country, most homes that do not sell were overpriced from the start.  As a home spends more and more time languishing on the market, sellers eventually reduce the price, but oftentimes in vain, as they are lagging behind the market instead of catching the crest of the pr...
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By Brian Block, Northern Virginia & D.C. Real Estate
(RE/MAX Allegiance, Managing Broker/Branch Vice President)
A full 55% of the homes currently on the market for resale in Alexandria, Virginia are comprised of condominium units.  And there are still more being built...  Condo living is a necessity for some who cannot afford the higher priced townhouse and single family homes in Northern Virginia.  However, for many Alexandria residents, condominiums are the home of choice, with the appeal of low maintenance and easy access to public transportation, shopping and restaurants.  The most popular areas for condos in Alexandria are in Old Town Alexandria and in the West End "Condo Canyon."   Condos are scattered throughout the City of Alexandria in garden style, mid-rise, and high-rise buildings.  How much do condos in Alexandria cost?  In July 2007, there were 103 sales of condos in Alexandria at an...
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By Carol Lynne Bull
(Keller Williams)
   Here In Del Ray Renovations are or going Strong lots tend to be small and it is not out of the ordinary to find your house on an odd sized lot. Most people go up rather than out. Now, our charm here is partly derived from our wonderful residents, our dogs ( and oh how we love our dogs ) and our architecture. Additions must conform and not be out of character. A turret did make it in. You see we all so like our whimsy.  
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By Brian Block, Northern Virginia & D.C. Real Estate
(RE/MAX Allegiance, Managing Broker/Branch Vice President)
The number one secret for selling homes in Northern Virginia quickly and at the highest possible price is to price the property properly when it first goes on the market for sale.  It's long been known that the longer a home lingers on the market, the lower price it is likely to command.  WHY?If you can remember when you first bought your home, one of the first questions you probably asked about each home you previewed was "How long has it been on the market?" We tend to assume that if it has been on the market for quite some time there is either: A) something wrong with the home; or B) more negotiating room because the seller is getting anxious for a sale.As a seller, you certainly don't want potential buyers for your home thinking along those lines.  In order to sell quickly and for t...
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By Brian Block, Northern Virginia & D.C. Real Estate
(RE/MAX Allegiance, Managing Broker/Branch Vice President)
Old Town Alexandria is one of the most popular areas in Alexandria City for homebuyers.  Occupying zip code 22314, Old Town's charms include the Potomac River, the Torpedo Factory Art Galleries (inside of what was once an actual torpedo factory), and the many great restaurants, boutique shops, historic homes, and businesses which make Alexandria a local center of activity.  The Washington Post reports on "A New Look Of Prosperity in Old Town". Among other things, the article states that:    "The city is preparing to unveil a set of banners that will help give the area a more unified feel"    "More than 36 restaurants have opened outdoor seating in the past three years, adding to the area's foot traffic on warm evenings"     "Several retailers have set up shop, including Old Original Boo...
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By Cindy Jones, Pentagon, Fort Belvoir & Quantico Real Estate News
(Integrity Real Estate Group)
The July sales report for Park Fairfax is ready and though I had anticipated from last month that there would be 17 new SOLD signs instead there was a slight fall out and only 11 properties closed.  The days on the market for most properties in Park Fairfax is significantly lower than the average that we are seeing in the area.  What is interesting about Park Fairfax is that the homes in this development do not have central AC and in some cases they also do not have washer and dryers installed.  Owners do have window AC/Heating units and  current homeowners generally adapt their homes to add a stack washer and dryer in either the kitchen or closets next to the bathroom.  Obviously these little "quirks" don't keep homebuyers away and with the super location, tree lined streets and friend...
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By Brian Block, Northern Virginia & D.C. Real Estate
(RE/MAX Allegiance, Managing Broker/Branch Vice President)
Whether it is because people are on vacation or it's just too hot to be out searching for homes, the number of homes sold in Alexandria in the month of July slipped from previous months.Total sales in Alexandria for July were 192 homes.This is down from 238 in June, 220 in May, and 207 in April.Single Family Homes:27 single family homes sold in Alexandria in July 2007 at an average price of $838,437.This is almost a 50% reduction in sales from the prior month of June when 52  single family homes sold at an average sales price of $858,151.The most active Alexandria neighborhood for single family home sales in July was Beverley Hills.Currently there are 130 single family homes on the market in Alexandria representing a 4.8 month inventory at July's sales pace.  Condominiums: 92 condos sol...
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By Brian Block, Northern Virginia & D.C. Real Estate
(RE/MAX Allegiance, Managing Broker/Branch Vice President)
Over the last few years, property values in Alexandria City, and indeed throughout Northern Virginia have skyrocketed.  Along with rising home values come higher property taxes.  To people with a fixed-rate mortgage, these tax increases are the only real variable in their monthly payment.  It is even more difficult for older residents on fixed income, who may have owned their home a long time and have only the taxes to pay.  I know of some people who are now paying more in property taxes than they ever paid on their mortgage. In an effort to lighten the load a bit, the City of Alexandria has just announced their Affordable Homeownership Preservation Grant Program for Tax Year 2007.  This tax relief is not automatic.  Alexandria homeowners must apply by the September 4, 2007 deadline by...
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By Brian Block, Northern Virginia & D.C. Real Estate
(RE/MAX Allegiance, Managing Broker/Branch Vice President)
“Condo Canyon” so called because of the multitude of large condo projects in a condensed area of West Alexandria offers many choices for today’s homebuyer. This interactive map shows the locations of the four main condos in the area (in counterclockwise fashion): Olympus at Landmark, Sentinel of Landmark, Watergate at Landmark, and Alexandria Knolls West, which are all clustered along Yoakum Parkway and convenient to I-395, Duke Street, and Van Dorn Street.  “Condo Canyon” condo owners benefit from their proximity to major roads, Landmark Mall, and Van Dorn metro on the blue line less than one mile away.  This area's values should continue to rise in the future especially with the City of Alexandria's plans for redevelopment of Landmark Mall.        Olympus at Landmark Condo            ...
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By Cindy Jones, Pentagon, Fort Belvoir & Quantico Real Estate News
(Integrity Real Estate Group)
Last month 10 homes sold in the Del Ray community in Alexandria.  Average sales price for townhouses was $475,927 and for detached homes was $644,388.  Currently there are 14 properties listed for sale in Del Ray ranging in price for a 2BR/1.5BA townhouse for $359,900 to $875,000 for a 4BR/4BA all brick detached home. To learn more about the vibrant Del Ray community read: Strolling the Avenue in Del Ray    
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By Brian Block, Northern Virginia & D.C. Real Estate
(RE/MAX Allegiance, Managing Broker/Branch Vice President)
Well, it's that time of year again -- Money Magazine has released it's annual list of The Best Places to Live in the U.S. It seems that everyone is writing about their hometowns making the cut: It's been very nteresting reading everyone's blogs and learning about different great towns across the country: Diane Aurit writes about Mooresville, NC in Mooresville, NC on Money Magazine's List of Best Places to Live  Ava Lugg gives a shout out to her hometown of Suwanee, GA in Suwanee named by Money Magazine  Angus in Naperville boasts of Naperville, IL -- #2 on the list in Best Place to Live? Of Course!  Sandra & Dan Cummings are excited to announce North Haven Connecticut Makes Money Magazines Top 100 List  Joyce Windschitl of Chaska, Minnesota is Proud of where I live... Money Magazine Rat...
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By Brian Block, Northern Virginia & D.C. Real Estate
(RE/MAX Allegiance, Managing Broker/Branch Vice President)
More than halfway through the year, and halfway through July, it's time for an update on home sales and housing market inventory in Alexandria, Virginia Zip Code 22304 (the area where I live).  In the last four months there has been a lot of activity with an additional 200 sales within 22304.  Back in March, the absorption rate amounted to 33 homes sold per month YTD 2007.  With the quickened pace, we've now had an average of 48 homes sold/month. As of this morning, there are 269 homes on the market in the 22304 area of Alexandria, representing a 5.6 months supply, down from a 7 month supply in March 2007.  This means the market is getting better for sellers and evening out towards a more balanced market. The homes on the market are listed for an overall average price of $410,485.  Ther...
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By Cindy Jones, Pentagon, Fort Belvoir & Quantico Real Estate News
(Integrity Real Estate Group)
This morning I had the rare opportunity to take a Saturday morning off and enjoy the farmers market and a stroll through the streets of Del Ray in Alexandria VA.  Not as famous as its neighbor, Old Town Alexandria, the neighborhood of Del Ray still exudes old style charm and grace. Founded as a railroad community for workers at the nearby Potomac Rail Yard, Del Ray's history can be tracked back to the mid 1800's.  With the Alexandria area being a major point for multiple train companies no longer in existence, Del Ray was crisscrossed by not only a significant number of train lines but streetcar tracks as well.  As the train companies went out of business the fortunes of Del Ray turned as well.  Surprising enough in this day and age of flattening old blighted neighborhoods to the ground...
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By Brian Block, Northern Virginia & D.C. Real Estate
(RE/MAX Allegiance, Managing Broker/Branch Vice President)
April 09, 2007 A Little Bit about Del Ray, Alexandria: A Popular and Eclectic Neighborhood Del Ray, Alexandria is one of the more popular and eclectic neighborhoods in Northern Virginia   Del Ray began as a working class neighborhood on the northwest end of Old Town Alexandria.  Today, Del Ray is a thriving small community of charming old homes, boutique stores, fun and eclectic restaurants, and a great neighborhood feel.  Located within Alexandria zip code 22301, Del Ray's homes include many bungalows from the 1920s and 1930s as well as some affordable townhomes.  Del Ray home prices range from the $300Ks up through the $800Ks.  Mount Vernon Avenue is the main thoroughfare in Del Ray and boasts such exciting shops and restaurants as Evening Star Cafe, Fireflies, Cheesetique, Mancini's...
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By Brian Block, Northern Virginia & D.C. Real Estate
(RE/MAX Allegiance, Managing Broker/Branch Vice President)
Looking to buy a single-family home in Alexandria? As of this July 9, 2007, there are 115 single-family detached homes on the market in Alexandria City.  They range in price from $400,000 up to $3,450,000 with an average listing price of $897,000.  This includes 24 homes that are priced at over $1 million (find out about million dollar homes throughout the D.C. region).  Excluding the million dollar plus category, the average price in Alexandria is a more palatable $671,671. Considering that there were 52 sales of single-family homes in Alexandria for the month of June, there is only a 2 month inventory supply of detached homes, making it a strong seller's market, at least in this sub-category of the overall Alexandria market.  Typically a 5-6 month supply is considered a balanced mark...
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By Cindy Jones, Pentagon, Fort Belvoir & Quantico Real Estate News
(Integrity Real Estate Group)
Although Park Fairfax condos are smaller than the neighboring community of Fairlington the proximity to DC and easy walking to the restaurants and theaters in Shirlington make them a terrific buy for first time home buyers, investors and boomers looking to downsize. There are currently only 5 active sale properties on the market and another 17 scheduled to close in July.  The following are the sales for June. For investors since the beginning of this year 25 units have rented with an average time on market less than 30 days.  Rents have ranged from $1275 for a Garfield Model to $1850 for a Cleveland.  Park Fairfax Information                                                          Search for Park Fairfax Homes for Sale   *Data compiled from the MRIS.  RE/MAX Allegiance may not have par...
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By Lenn Harley, Real Estate Broker - Virginia & Maryland
(Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate)
OLD TOWN ALEXANDRIA HOMES  Homes for sale in Northern Virginia have enjoyed stable prices for the past year.  Average prices for homes in Alexandria, Virginia constructed between 2000 and 2005, 4 Bedrooms or more, 2 Full Baths or more, 2 car garages or more built on 5000-20,000 square feet lots, non-water front are priced from $700,000 for a 3 Bedroom, 2 Full Bath Single Family Detached home with about 1,600 square feet to $3,400,000 for a 10,000 square foot home on a 9/10 acre lot.  New construction in Alexandria will be luxury priced because of the proximity to the water front, METRO, Washington, D.C. and Old Town.  Alexandria City - $1,322,754 average price.Example of New Homes in Alexandria City, priced about $1,400,000.Luxury Homes in Alexandria are rare but worthwhile.  Many have ...
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By Cindy Jones, Pentagon, Fort Belvoir & Quantico Real Estate News
(Integrity Real Estate Group)
Townhomes and condos in Fairlington continue to fly off the market.  Fairlington crosses two localities, Alexandria and Arlington.  When I reported Fairlington sales in March there were 25 units for sale in the community. As you can see from the April report there were 22 Fairlington closings ranging in price from $268,000 to $476,000 for a rare 4 level Clarendon Model.  In May we currently have 46 active units and another 35 units under contract. Fairlington is a popular neighborhood for first time homebuyers and with interest rates continuing to hold steady and with all the community ammenities sales appear to be continuing on a positive note for June.  For more details on last months Fairlington Sales please check out the following list of sales prices and subsidies: http://matrix.mr...
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