Arlington, VA Real Estate News

By Afton Mormann
(Keller Williams Realty)
A realtor in our office often says: "The news sells fear, I sell real estate."  I took her saying to heart after reading this article on CNN Money.  The numbers show that overall housing prices are only down about 2% from last year, while at the same time condo prices have increased by 2%.  For those of us in the greater Washington, D.C. area, the NAR statistics show that we have seen prices increase by 1.3%.  Although the article is titled: "Home prices continue to fall," the market is not nearly as bad as the media makes it appear. Happy Home Buying! http://money.cnn.com/2007/11/21/real_estate/NAR_prices_through_September/index.htm?postversion=2007112115 
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By Brian Block, Northern Virginia & D.C. Real Estate
(RE/MAX Allegiance, Managing Broker/Branch Vice President)
As of today, November 28, 2007, there are 102 high-rise condominium resale units on the market in North Arlington, Virginia.  This represents just over 23% of all of the condos currently available for sale in Arlington.  Most of the high-rise condominiums available in North Arlington are along the Rosslyn-Ballston corridor which runs along the Orange Line metro.   If you are unfamiliar with the Arlington area, you should know that the County is divided into North and South by Route 50 (otherwise known as Arlington Boulevard) which runs East/West through Arlington County from D.C. to Fairfax County.    In the last 6 months, 918 condos sold throughout all of Arlington for an average sales rate of 153 condos per month.  The chart below shows the inventory of condos at some of the more popu...
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By Donny Samson Team, Great Service at a Great Price
(Samson Properties)
1301 N. Court House Rd #610, Arlington, VA, 22201 United States $449,000   MLS#AR6579313List Date10/30/2007TypeCondoBedrooms2Bathrooms2Square Footage1143Age24Monthly Condo Fees$536.02REQUEST MORE INFO   SCHEDULE AN APPOINTMENT VIRTUAL TOURWell-maintained/owner occupied 2BR/2BA Condo. Commuter's Dream! Walk to Metro & Mins from DC. Brand New Carpeting t-out. Kit w/breakfast bar and pass thru to Spacious LR. Formal DR. Lots of Storage! 8 closets + Balcony Storage + garage storage locker. Laundry closet w/new washer. MBR suite w/SGD to Balc. Parking Garage w/1 asign. spot. Great Court House Area! Walk to shops, movies, restaurants & more!Interior FeaturesThis well-maintained 2 Bedroom, 2 Bath Condo is a commuter's dream!  Warm and inviting Living Room with a pass through to the Kitchen and...
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By Donny & Meredith Samson
(Samson Properties)
Under Contract! Well-maintained/owner occupied 2BR/2BA Condo. Commuter's Dream! Walk to Metro & Mins from DC. Brand New Carpeting t-out. Kit w/pass thru to Spacious LR. Formal DR. Lots of Storage! 8 closets + Balcony Storage + garage storage locker. Laundry closet w/new washer. MBR suite w/SGD to Balc. Parking Garage w/1 asign. spot. Great Court House Area! Walk to shops, movies, restaurants & more! For more information please visit my website www.dmsamson.com Donny Samson | Samson Realty | donnysamson@hotmail.com | 703-864-4894 1301 N. Court House Road #610, Arlington, VA Well-Maintained 2 BR Condo! 2 Bdrm Condo offered at $449,000 Year Built 1983 Sq Footage 1,143 Bedrooms 2 Bathrooms 2 full, 0 partial Floors 1 Parking 1 Lot Size Unspecified HOA/Maint $536 per month DESCRIPTION Well-ma...
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By Katie Wethman, CPA, MBA, Realtor - Northern Virginia & DC Real Estate
(Keller Williams)
Below are the updated statistics on active and sold condo listings for zip code 22201 (includes Ballston, Virginia Square, Clarendon).    1 BR Units 2BR Units ACTIVE LISTINGS Average List Price $373,540 $562,646 Number of Active Listings 35 54 Average Property DOM – Actives 64 67 SOLD LISTINGS Average Sold Price for October $320,183 $528,902 Number of Sold Listings in October 13 11 Average Property DOM - Sold in October 41 76  Source: MRIS data as of 11/18/2007.  All data deemed reliable but not guaranteed. For the complete November 2007 statistics, click here.Sign up for one of my free "First Time Buyer Seminars" in Arlington to learn more about the home purchase process and market conditions.  Learn more about me at http://www.katiewethman.com or read my blog at http://katiewethman.b...
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By Afton Mormann
(Keller Williams Realty)
Talk about luxury condos, The Odyssey, located at 2001 15th St N, Arlington, VA, is the place to be.  This fabulous building was finished in 2006 and stands high in the heart of Courthouse.  Of the 17 floors, floors 11-16 are the platinum luxury suites.  Every condo has a different plan, but most have light hardwood floors, cherry wood cabinets, granite countertops, and gorgeous bathrooms with marble.  The amenities are excellent.  The Odyssey has a workout facility which will tempt you to cancel your current gym membership.  This past summer, the rooftop pool was open from May to the end of September.  Beautifully decorated common areas are located on the 16th floor and have a pool table, flat screen TVs, and a full kitchen great for hosting events.  I think I've forgotten to mention t...
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By FRANK LL0SA Esq.- Northern Virginia Broker .:. FranklyRealty.com
(Northern Virginia Homes - FRANKLY REAL ESTATE Inc)
When two of my blog readers send me WSJ articles on the same day, you know something big is up.Appraisals 101: An appraisal is a report that is supposed to be a 3rd party impartial review of a property (usually under contract) to make sure the price is in line with recent closed sales (not counting houses still "for sale"). This protects the bank from buyers buying overpriced houses, which are at higher risk for default. I first wrote on this topic of inflated appraisals: Builder Tricks Part 3! Independent Appraisals & Fiduciary Duty. I showed why builders try to require "in house lenders" that happen to have appraisers in their back pocket that miraculously make the numbers come in. Ultimately consumers who suspect foul play should pay $300-$400 and get a real "independent" appraisal ...
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By Brian Block, Northern Virginia & D.C. Real Estate
(RE/MAX Allegiance, Managing Broker/Branch Vice President)
For those who live in the Greater Washington D.C. area or are just visiting, this weekend brings the excitement of the Marine Corps Marathon, otherwise known as "The People's Marathon."     Runners will line up in Arlington just north of the Pentagon to wait for the starting gun which will be fired at 8 a.m. this Sunday, October 28th.   The course winds through Rosslyn along Lee Highway and crosses the Key Bridge through Georgetown where throngs of encouraging supporters and fans cheer on the intrepid runners.  Marathoners are treated to grand vistas as they tread along the National Mall and run beside the Lincoln, FDR, and Vietnam Veteran's memorials.        After passing the Washington Monument and looping around the U.S. Capitol, runners will enjoy the quite of East Potomac Park, pas...
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It’s almost mid-October and it was 92 degrees today here in the DC area. We broke a record set back in the 1930s. I can’t even imagine what it was like to live in 92 degrees in the 1930s. It was the time before air-conditioning. So hot was hot- there was no escape. I know what the houses were like in the 1930s because we still have many of them around. It was before WWII, FDR was president & the term “urban sprawl” wasn’t even a concept, let alone the common place it is here today. Yes, life was different in the 1930s. So instead of searching for the beautiful color of the changing leaves, I went to the Bon Air Rose Garden today. The roses where still in bloom and the leaves at still green. I love this little park. It’s maintained by the county and has a loyal following. I’m glad that A...
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I was driving down Wilson Blvd on Saturday heading to pick up clients and had a “WOW” reaction when I saw the tearing down of this building on the corner of Wilson Blvd & Oakland Street. I often see the cranes going up and the buildings being built– but rarely get to see the destruction that precedes the new birth. While there is no sign up yet on what’s to come, it appears to be the home of a new residential building– The Amelia Residences at Virginia Square. Originally scheduled as am 8–story building with 108 unit condominium, 147 underground parking spaces and 3500 square feet of retail at street level, it is now simply called a “residence.” In Developer speak that means that there is a possibility that is won’t be offered as a condo- but as rental apartments instead. The developer...
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By Cindy Jones, Pentagon, Fort Belvoir & Quantico Real Estate News
(Integrity Real Estate Group)
A few years ago a leaking hot water heater took a chunk out of my coveted book collection.  Then another move made me realize that hauling around boxes of books was not very practical and added a lot to the moving bill.  So after years of avoiding the public library it seemed like a good idea to check out how they might have changed.  In the Northern Virginia area we are lucky to have a huge selection of libraries to choose from including a new state of the art library that opened recently in Shirlington. As soon as you walk in the door you realize this is not a place were you are going to find rows of those pesky card catalogs but instead a sleek state of the art computerized facility. Offering 26 PC stations, total wireless access if you bring your own laptop, a 75 person meeting room...
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By Cindy Jones, Pentagon, Fort Belvoir & Quantico Real Estate News
(Integrity Real Estate Group)
As a Fairlington owner I have posted market reports over the last few months about general real estate trends in the neighborhood.  Last month I wrote a blog titled "Saying No to Local Market Reports" in which I said I would no longer post generic information about the area.  In keeping with that promise I decided this month for Fairlington I would focus on one popular model in the neighborhood and take a look at the prices from August 2006 and August 2007. It shouldn't be a surprise to anyone to see prices are down 10% from the previous year.  The volume of sales has reamained relatively steady and seller subsidies continue to be available to help buyers come to the settlment with less money.  So for buyers who are interested in Fairlington the opportunity exists to pick up a nice Clar...
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By FRANK LL0SA Esq.- Northern Virginia Broker .:. FranklyRealty.com
(Northern Virginia Homes - FRANKLY REAL ESTATE Inc)
Many Virginia condo builders have bailed before completion of their projects, voiding thousands of contracts (see: Arlington Condos Trend: Back to Apts). Meanwhile, other builders, including single family home (SFH) builders, decided to plow through the rough market. Earlier in the year, builders (condos and SFH) were finding buyers were backing out of new construction contracts. Some left 2-7% deposits on the table, some fought for their deposit (ask for specifics). Can you blame them? If a property has dropped $70,000 and you put a deposit for $20,000... um, I know that stinks but why not just leave your deposit on Monday, and go in on Tuesday and buy another one for less? So now the builder has inventory that they need to move and fast! The liquidation sales are here! And "These pric...
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By FRANK LL0SA Esq.- Northern Virginia Broker .:. FranklyRealty.com
(Northern Virginia Homes - FRANKLY REAL ESTATE Inc)
Newspapers are filled with talk of the flood of foreclosures, but none that I have seen have taken a step back and defined all the different industry words for my new industry word: "SOL" (S* Out of Luck) Homes (tm), and how to buy them. 2-3% of MLS listed homes are SOL in Northern Virginia. Can your agent find them?It might seem odd that I'm writing about how to buy foreclosures listed on the MLS since some might have just finished reading my article Attn. Market Timers! The EXACT Best Day to Buy!Well SOL homes can get you a 5-15% discount* if you Know how to search for them, AND You have patienceYou aren't picky!Fully understand the risks of buying "as is" * Side shout: BusinessWeek did a great job in their article This Old Foreclosure Buying directly from a bank avoids some risks, bu...
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By Brian Block, Northern Virginia & D.C. Real Estate
(RE/MAX Allegiance, Managing Broker/Branch Vice President)
Going out to the movies these days is not that pleasant an experience any more.  First of all, tickets are priced sky high -- $10 for an 1.5-2 hour movie that more times than not is mediocre is just too much.  When you add in the inevitable soda and popcorn, a night for two at the movie theater can run close to $40.  No longer a cheap date!  Secondly, now that everyone from teenagers to grandparents carry their cellphones everywhere they go, you can often end up seated next to someone who feels the need to talk loudly to their friends over the phone during the middle of the movie.  I was actually at the movies last year when this happened and the whole theater started yelling at this cell phone etiquette offender who was finally escorted out of the theater to loud cheers and applause!Th...
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By Jennifer Klaussen, GRI, Realtor, Arlington Virginia Real Estate
(Keller Williams Realty)
I've decided to add a new feature to my blogworld - Neighborhood Focus.  This week, to kick it off, I'll be taking a closer look at Westover, a charming neighborhood in North Arlington that gives the feel of yesteryear.Washington Boulevard is the "Main Street" if you will, of Westover.  Traffic slows when you enter into the 2-3 block stretch resembling days gone by.  It's an area of local shops, small-town feel, and everything you need - from the post office, the grocery, a few colorful restaurants, a barber, drug store, hardware store, coffee shop, library...  what else could you need?Here is a look down one of the sidewalks of Westover Village.  You can see the barber shop and Scoop Beauregards - one of my personal favorite ice cream parlors in the entire area!This shopping center is ...
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By Jennifer Klaussen, GRI, Realtor, Arlington Virginia Real Estate
(Keller Williams Realty)
I'm sure you've heard all about the "green movement" - as it relates to the housing industry, it involves updating processes and materials to build (or renovate) a more environmentally friendly home.  Arlington County has created a program called the Green Home Choice Program.  The program deals with everything from minimizing the amount and types of construction waste, to eco-friendly products and energy efficient (Energy Star) systems.  Having an energy efficient home can not only save you money each month on your energy bills, but also save in the long term on the use of natural resources, like water and gas.  Green homes can also help reduce the allergens and pollutants sometimes found in building materials.One of the great side benefits of participating in this program is that the ...
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Last week the Northern Virginia Transportation Authority (NVTA) voted to increase seven taxes in Northern Virginia to raise $300 million in tax revenues for local transportation projects. The most important tax for residents selling their home is an increase in the Grantor’s Tax from $1 per $1,000 of your sales price to $5 per $1,000 of your sales price. The other taxes relate to vehicle registration, new car tax and various taxes on cars. Here are the all tax increases: 40 cents per $100 increase in the real estate Grantor's tax 2 percent increase in the rental car tax 2 percent increase in the hotel/motel occupancy tax $10 increase in the vehicle safety inspection fee 1 percent initial vehicle registration fee (for new car purchases or those moving into the region) 5 percent sales tax...
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The Arlington County Board is continuing its Grant Programs for another year- saving certain property owners some money on their annual property taxes. There are two different programs and you may qualify for either one but not both. With the recent raise in property taxes over the past 5 years, this is a great program for those who qualify. The Homeowner Grant Program The Homeowner Grant Program provides a $600 grant plus $75 for each dependent if you qualify. Homeowners are eligible if: Combined household income does not exceed $77,407 Assets do not exceed $340,000 (doe not include your home & retirement accounts) All owners reside in the home as their sole residence, and They own and live in their Arlington home as of December 31st 2006. The Tax grant is not automatic and you have to...
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By Kathleen LoGiodice Fong, Arlington expert- DC METRO area
(Keller Wiliams -Citywide)
Well.. .gone are the golden days of real estate.. you know, the last few years when we all made incredible sales and life was ... hmmm.. groovy? I have the extreme pleasure of being married to a residential architect.. and this is not the first time in our lives we've had to adjust to the winds of the economy. I've learned to roll with the punches and take each day as it comes. These times provide  a new opportunity to be better at what you do.Every day I meet agents who  have never experienced a major economic shift like we are seeing right now. They are struggling to make it- and many have gone back to prior industries that offer benefits, a regular paycheck and stability. It's a natural event when you work in an economically based industry - and it does  weed out those who are opport...
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