The Shirlington Report ~ October 2009 ~  It was a busy month for Shirlington real estate with 50 new condo listings hitting the market in October, 23 of 30 units under contract getting ratified within the month, and 34 units making it to the settlement table.  Early contract activity in the month was skewed towards lower priced properties, presumably 1st time home buyers trying to get in under the original deadline for the tax credit, while activity in the latter half of the month was geared to higher priced units.                              The normal seasonal slowdown appears to have started, with only 8 new contracts being ratified in first third of November and even fewer contracts expected once we get to Thanksgiving week.  The unknown aspect this year is the extension & expansio... 11/11/2009

Is it still a hot market in Northern Virginia? One might argue that based on this deal it is. We listed this quaint little 'cottage type' property (3 bedrooms, 3 bath, maybe 1900 sq ft) situated in one of Arlington's "finest" neighborhoods and during the first showing we had an offer in hand, a verbal offer and 3 phone calls. One of our offers was cash, no inspections or contingencies that also offered an escalation to over $50,000 beyond asking price of $764,900.00. We ratified an offer within hours of putting the sign up! There wasnt even a picture on the listing in MLS so all I can offer is this description which I wrote for the listing. "Great opportunity situated in the heart of sought after Country Club Hills. 3BR and 3BA with family room and Master BR on the main living area- cat... 11/10/2009

                                                                                       The Arlington Report for YTD October 2009       Model      # Sold             Sales Range             Ave. Price      Ave. Subsidy     A  Lower        1                 $300,000              $300,000          $9,750     B  Upper        8       $260,000 - $295,000      $281,375         $3,795     C  Lower        6*      $275,000 - $293,000      $284,167          $1,667     L  Lower        1*                $345,000              $345,000           $ 0     M  Upper       4*      $300,000 - $311,000       $306,250         $4,831  *Excludes a short sale due to the distressed nature of the sale Data source: MRIS settled transactions 1/01/2009 - 10/31/2009, deemed reliable, but not guaranteed Compliments of ... 11/04/2009

OK so you know it is special when others take note of what you are doing. Especially the New York times. Have you read their article titled An Oasis of Stability Amid a Downturn? It is a very well written article that sums up our area of Arlington VA take a look at an exerpt The 3.3-mile corridor extends from the high-rise riverside canyons of Rosslyn; through Courthouse, the seat of Arlington County’s government; to hip Clarendon; to Virginia Square with its branch campus of George Mason University; and finally to Ballston, a few square blocks of high-rise offices, hotels and residences and also a hub for science and technology. “The Rosslyn-Ballston corridor will continue to be the most sought-after area in Northern Virginia in the foreseeable future,” Cushman & Wakefield said at the ... 10/30/2009

Looking for a condo in Arlington Virginia?  This one is minutes from Rosslyn and Washinton DC.  The best location and best kept secret. Enjoy a close-in location, walking distance to Metro, shopping and restaurants, yet surrounded by grass and trees, adjacent to parks and bicycle trails, and close to major roads leading anywhere one might like to go.  Located minutes away from: Rosslyn, Virginia Georgetown and downtown Washington, DC George Washington Parkway, and I-66 Georgetown University George Washington University John F. Kennedy Center for the Performing Arts Pentagon Washington-Reagan Airport Clarendon Close to the following Shopping Malls: Ballston Common Mall Fashion Centre at Pentagon City Tysons Corner Center Offered at $270,000, this one bedroom, one bath condo at the Cardi... 10/27/2009

The annual Marine Corps Marathon is tomorrow at 8 AM in Arlington VA and then crosses the Potomac River into the District.  For those not used to it, you have to plan ahead to get around town.  There will be a lot of street closures from 4 AM to 1:30 PM.  A few years ago, I forgot about it and and had a flight to take from National airport.  So I thought I should share this.  There will be some terrific traffic backups due to re-routing traffic, detours and areas being cordoned off for the race.  Northern VA can become total gridlock when the race is on, and during the aftermath.  I'm sure there will be a lot of celebrations and tourists around during and after the race.  Plan ahead! Marine Corps Marathon Information Marine Corps Marathon Route Marine Corps Marathon Weekend Guide Street... 10/24/2009

Pentagon Row is a shopping "destination" located in Arlington, VA.   Stores include Harris Teeter, Bally Total Fitness and other specialty retailers there is also and...ice skating rinks (November through March) and many restaurants... The Annual Halloween Fest on Saturday, October 24 from 1-3pm! Free events include Trick or Treating, Balloon Art, Halloween Cookie Decorating at Sur la Table (1:30-3pm), Giveaways and more! For more information, please visit www.pentagonrow.com. This activity is Free! and will be held Rain or Shine. Pentagon RowCorner of Army Navy Drive and South Joyce StreetArlington, VA 22202  Date/Hours:Saturday, October 24, 2009 (1:00 PM-3:00 PM)Telephone:Information: (434) 977-9234Email:jpreusser@federalrealty.comWebsite:pentagonrow.com        SELL A HOME....CLICK HE... 10/18/2009

$8,000 Tax Credit Update - Arlington, VA The $8,000 First Time Home Buyer Tax Credit was propsed to be extended to November of 2010 for active military personnel, intelligence officers and foreign service.  The House of Representatives voted unanimously in favor of this.  The bill, HR 3590 is also expected to pass through the Senate with no opposition as well.   This extension gives military personnel serving overseas the opportunity to take advantage of the home buyer tax credit that many stateside military and civilain residents were able to enjoy.  In order to qualify, 90 days from the current calendar year must have been spent overseas. The real question is, will the $8,000 home buyer tax credit be extened for everyone else?  It seems to reason that this might be a test run to see w... 10/17/2009

Looking in Ballston or Arlington for a great Condo with low fees and a lot of space? Here is a home that is turn-key. Designer colors, hand-scraped hardwood floors, granite. 1705 in the Continental also has the perfect view. Many condos are facing the new construction - not this location! See all the way to Alexandria on a clear day. We are having an Open House this Sunday from 1 to 4 p.m. Please drop by and see the largest floorplan offered at 851 N Glebe. Call us for info at 703-626-3855 or visit TalleyHurstHomes.com for a brochure. 10/17/2009

The Courthouse Metro Station is located in Arlington, Virginia at Wilson Boulevard and Uhle Street. The Court House metro is located on the Orange Line, in between the Rosslyn and Clarendon metro stations, and services the greater Courthouse neighborhood. The metro station began service in 1979 and is scheduled to be on the Silver Line by the start of operations in 2011. Located in the epicenter of Arlington, estimates project that sum 14,000 people enter and exit the station on an average weekday. The area surrounding the Courthouse Metro Station represents a wide-range of residential, commercial, government and retail buildings. Colonial Village, for example, located just north of the metro station, is one of Arlington's first garden apartment complexes and part of the complex has be... 10/13/2009

  The Arlington Report for YTD September 2009   Model      # Sold               Sales Range            Ave. Price      Ave. Subsidy  A  Lower        1                   $300,000                 $300,000            $9,750  B  Upper        7            $260,000 - $295,000        $283,714           $3,623  C  Lower        5*           $275,000 - $293,000      $282,600           $2,000  L  Lower        1**                  $345,000              $345,000             $ 0  M  Upper       3***        $307,000 - $311,000      $308,333           $4,666  *Excludes short sale at $265, 000 due to distressed nature **Excludes short sale at $269, 000 due to distressed nature ***Excludes short sale at $255, 000 due to distressed nature Data source: MRIS settled transactions 1/01/2009 - 9/30/2009, deeme... 10/12/2009

You know what we say about real estate it is location, location, location.  Enjoy a close-in location, walking distance to Metro, shopping and restaurants, yet surrounded by grass and trees, adjacent to parks and bicycle trails, and close to major roads leading anywhere one might like to go.  Located minutes away from: Rosslyn, Virginia Georgetown and downtown Washington, DC George Washington Parkway, and I-66 Georgetown University George Washington University John F. Kennedy Center for the Performing Arts Pentagon Washington-Reagan Airport Clarendon Close to the following Shopping Malls: Ballston Common Mall Fashion Centre at Pentagon City Tysons Corner Center This condo is a rare find for those seeking the benefits of a well established community, amenities offered by many newer cond... 10/06/2009

CASH IS KING in the first time home buyer price ranges! Arlington, Virginia (and really, most of Northern Virginia) have long been one of the country's most unafordable areas to purchase housing.  Residents who wished to live in areas like Arlington or Alexandria/Old Town have had to previously rent due to the high costs.  As long term renters, most first time home buyers are very familiar with the neighborhoods and the area in general.  They have never had a better opportunity to purchase their first home.  Home prices have come down quite a bit from their peaks in 2005, interest rates are very low right now and to top it off there is an $8,000 tax credit being offered by the government in an attempt to stimulate home sales and the economy (that a discussion for another post).   So wha... 10/06/2009

The Shirlington Report ~ September 2009 ~  A total of 32 units went to settlement in the month of September, while 25 of the 27 units under contract were ratified during the month.  Of this activity, 1st time home buyers continue be the driving force as they scramble to qualify for the $8,000 tax credit, which requires settlement take place on or before November 30th.  At our open house this past weekend, 75% of attendees were 1st time home buyers scrambling to find units to make an offer on.         In September, the units sold were much more tightly grouped vs August, without any units selling below $250K or over $500K.  Over 56% were in the narrow $350K-$450K range, while August had 50% of transactions below the $350K threshold.     AJ Heidmann, CRS, ABR, e-PRO Cell 703-474-1260 ~ Of... 10/06/2009

  A friend's blog post inspired me to write this, I've been thinking a lot about it lately.   What's the deal with ALL THESE BUYERS?!   I'm getting lots of people coming through my website or emailing/IMing me directly lately.  They are serious home buyers with money to spend in Arlington and Alexandria, they just want homes that are retailing for $550,000 and they want them for $400,000.  What?!  Talk about crazy.  It's become so epidemic that I have to do something as all my bandwidth is getting eaten up trying to help these individuals understand that the market won't be providing them what they want at their price.  So, they either have to increase the amount of money they wan't to spend or lower their expectations.  My vote goes to lowering their expectations.     So what to do, wh... 09/30/2009

For those of you Whole Foods shoppers who buy American Flatbread’s frozen pizzas, here’s some great news! American Flatbread will be opening a new restaurant in the ground-level retail shops of the Zoso Lofts Apartment building at 1025 N. Fillmore Street, Arlington VA 22201 in Clarendon on October 5, 2009. American Flatbread started in Vermont in 1987. Their pizzas are made from Organic ingredients in a Primitive, wood fired oven. They support local farmers for their produce. They even brought a portable oven to Clarendon Day 2009:   Aside from various styles of “flatbreads” (i.e. pizzas!), they’ll feature 3 seasonal salads on the menu, in addition to drinks. Can’t wait for the Clarendon one to open on October 5th? They have a restaurant in Ashburn, VA too! Want to see what’s for sale ... 09/27/2009

Pricing Your Home to SELL!   The key to selling a home in today's real estate market is PRICE!  Price is king and buyers in this real estate market are often comparing all types of potential properties from foreclosures and short sales to traditional sales when they analyze their options.  So, when selling your home in this real estate market, perhaps you should consider my 30-60 -90 day pricing strategy.   This pricing strategy can help save you from potentially long and difficult problems when selling your home.  The 30 day price is an honest and up front price that will get your home sold in 30 days or less, low hassle no anxiety.  The other 2 options are a 60 day and 90 day price, both of which are based off of the 30 day price.  The 60 day price allows for some negotiating room wh... 09/25/2009

The Arlington Report for YTD August 2009                                                   Model      # Sold          Sales Range             Ave. Price    Ave. Subsidy           A Lower        1                 $300,000               $300,000         $9,750           B Upper        5         $280,000 - $295,000      $287,200         $4,472           C Lower        5         $275,000 - $293,000      $282,600         $2,000           L Lower       1*                  $345,000              $345,000           $ 0           M Upper      3**       $307,000 - $311,000      $308,333         $4,666 Compliments of AJ & Jodee HeidmannYOUR Resident Specialists for The Arlington Activity within The Arlington has remained strong since the 1st Time Homebuyer Tax Credit was announced, strong open hous... 09/15/2009

The Shirlington Report ~ August 2009 ~  A total of 24 units went to settlement in the month of August, while 14 of the 30 units under contract were ratified during the month.  Of this activity, 1st time home buyers appear to have been a driving force as they seek to qualify for the $8,000 tax credit, which requires settlement take place on or before November 30th.    As far as where these sales took place across the pricing spectrum, 50% of these transactions occurred below the $350K threshold, another potential indicator of 1st time home buyer activity.       AJ Heidmann, CRS, ABR, e-PRO Cell 703-474-1260 ~ Office 703-518-8300 ~ Fax 703-518-8314  AHeidmann@CBMove.com Coldwell Banker Residential Brokerage 310 King Street, Alexandria, VA  22314 "Serving Distinctive Clients & Properties i... 09/15/2009

Arlington area Short Sales are Good Deals for All! I really enjoy working with sellers owe more than there home is worth.  In other words, short sales.  Let me clarify... I know there are lots of people out there in Arlington and the surrounding areas that need to sell their homes and they owe more than the home is worth.  When this happens, there are 3 options available:   Foreclosure - The bank takes the home back and the owners credit is hit hard.  So hard in fact that it is highly unlikely that another home can be purchased for seven years.  Not good. Short Sale - The home owner gets authorization from the bank to sell the home for less that what is owed on the note.  A good option as some banks are reporting short sales as paid in full.  Additionally, another home may be purchased ... 09/14/2009