Arlington, VA Real Estate News

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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By Brian Block, Northern Virginia & D.C. Real Estate
(RE/MAX Allegiance, Managing Broker/Branch Vice President)
Arlington, Virginia has remained a very strong housing market throughout the turmoils of the housing slowdown in the Greater Washington D.C. area.  Arlington remains very desirable due to its proximity to D.C., the Orange Line metro running throughout the Rosslyn-Ballston corridor, and the variety of housing styles and pricing options available.Days on Market:  Quick Arlington Sales Slowing Down Significantly Of the Arlington homes that went to settlement in the last 30 days, the average amount of time on the market was only 38 days.  This is still very fast and any Northern Virginia seller should be happy to have their home sell in such a short period. The graph below compares the days on market for Arlington homes sold in the various Arlington zip codes for closed sales within the las...
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By Brian Block, Northern Virginia & D.C. Real Estate
(RE/MAX Allegiance, Managing Broker/Branch Vice President)
Looking for fresh produce and fun?  Why not visit one of the many local Farmers Markets held in Arlington or Alexandria! Usually thought to be territory for those early-risers on the weekend, there are actually local farmers markets that have extended morning hours and even afternoon hours and during the week as well.  You can usually get some of the best fruits and vegetables as well as some crafts at the Farmers Markets and get to spend some time outdoors.  Many of the farmers drive several hours to participate in the market, and it is important to support our local farmers.   Here is information on the locations and times for some of the more popular Farmers Markets: ARLINGTON, VIRGINIA FARMERS MARKETS: Rosslyn Farmers Market: Thursdays from 11 a.m. to 3 p.m.  Located at Metro Park, ...
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By Brian Block, Northern Virginia & D.C. Real Estate
(RE/MAX Allegiance, Managing Broker/Branch Vice President)
Reading the newspapers and watching television, one believes that the whole country is in the midst of a housing slump.  While sales and prices are down on a national level, it is important to realize that real estate values and real estate sales are indeed very local in nature.  This holds true for the Greater Washington D.C. area, which has not been spared the effects of the slowdown in the housing market.  Homes are spending longer on the market and region-wide prices are down, inventories are up, and sellers are getting worried.Arlington, Virginia, the closest to D.C., Northern Virginia suburb is an exception to the overall trends.Here is the home sales data for July 2007 in Arlington, Virginia:There were a total of 286 homes sold in Arlington during the month of July.  This is down...
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By Brian Block, Northern Virginia & D.C. Real Estate
(RE/MAX Allegiance, Managing Broker/Branch Vice President)
308 ARLINGTON HOMES SOLD IN JUNE 2007! Home sales in Arlington, Virginia for June 2007 totaled 308 homes at an average price of $572,362.  This is pretty much on par with sales in May 2007 which totaled 307 sales at an average price of $574,398.  At an average of 56 days on market, homes in Arlington are selling at a faster pace than most jurisdictions in the Northern Virginia market. Compared to June 2006, average sales price in June 2007 is down by 7.47%, but number of sales is slightly up by 2.67%. Here’s a breakdown of June 2007 Arlington sales by area (and statistics vary widely by which part of Arlington County we examine with some areas soaring and others a bit depressed): Clarendon (22201 zip code):  47 homes sold – ¾ of them were condominiums.  Average sales price down 10.90% f...
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By Keller Williams Great Falls, Mclean
(Keller Williams, Serving Mclean, Arlington & Reston areas)
I received word from my tenant that she will be moving in November and while it still a few months away it is amazing how quickly time goes by: I'm planting the seed a little early so that everyone knows, soon there will be an amazing 2 Bedroom 1 bath Fairfax model unit available in Fairlington. Total rent will be $1650 plus utilities. Kitchen is renovated (granite counter tops and 2 year old stainless steel appliances in like new condition). Brand new windows throughout and renovated bathroom 2 years ago includes new tiles, sink and toilet. The back patio is yours to landscape as you wish and enjoy cooking out and entertaining. Trash pick up is everyday from virtually your front door (except Sundays/holidays). Snow removal and lawn care includedLocated in Fairlington Villages (North si...
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By Brian Block, Northern Virginia & D.C. Real Estate
(RE/MAX Allegiance, Managing Broker/Branch Vice President)
Average Arlington Single Family Homes Top $1 Million Mark Inventory and Sales Average Above $1 Million in Arlington Virginia The average listing price of an Arlington single family home has now topped $1 million.  As of July 13, 2007, there is currently a large inventory of 357 homes on the market in Arlington County at an average listing price of $1,025,463. These numbers also correspond with the sales so far in July.  To date, there have been 19 detached home sales in Arlington.  The average sales price was $1,002,837, just a bit off the average asking price of $1,024,595.  These homes at a brisk pace at an average of only 25 days on the market! These numbers are up quite a bit from just last month when the 118 sales in Arlington reflected an average sales price of $845,296 and 43 da...
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By Brian Block, Northern Virginia & D.C. Real Estate
(RE/MAX Allegiance, Managing Broker/Branch Vice President)
      Getting the Keys for Less: Alexandria and Arlington Homes for Under $200,000 What you can buy for under $200,000 and where in Alexandria and Arlington   You want to live close in to D.C. because you hate long commutes, but you can't seem to afford much, so you've been stuck renting.  How do you get the keys to your new place for less? Here are the options of available properties for under $200,000 in Alexandria & Arlington: You're probably already aware that in this price range, the only availablity is condos.  Currently there are 48 units on the market under $200,000.  One of the things to be aware of is that almost all of these are in buildings that are 40 or more years old.  That's not always a bad thing, sometime these buildings were built better back then than some of the ne...
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By Brian Block, Northern Virginia & D.C. Real Estate
(RE/MAX Allegiance, Managing Broker/Branch Vice President)
When you think of Ballston or drive around the area, you think "Ballston is built-up!"  And when you look up, what you see is high-rise condos and apartments.   There are 27 condo units currently available in Ballston in the following high-rise buildings:  Alta Vista, Ballston 880, The Continental, Hyde Park, and the brand new Hawthorn Condos. The average price for the available Ballston condos is $496,220 and they have averaged 50 days on the market.  1 bedroom condos range from $374,000 to $480,000 with an average price of $420,756.  2 bedroom condos range in price from $399,900 to $748,000 with an average price of $546,544. CLICK HERE TO START YOUR SEARCH FOR A BALLSTON CONDO The Alta Vista located at 900 Stafford Street is literally right on top of the Ballston Metro station.  It wa...
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By Cindy Jones, Pentagon, Fort Belvoir & Quantico Real Estate News
(Integrity Real Estate Group)
With it's close proximity to DC there doesn't appear to be a cooling trend in sales in Fairlington.  Though prices are down from last year sales are still brisk.  Here is the latest sales for the month of June.    *Data compiled from MRIS.  RE/MAX Allegiance may not have participated in all sales* For more information on Fairlington and past Fairlington Market Reports by Cindy Jones:Welcome to FairlingtonFairlington Sales Continue to Fly And from another Fairlington fan Scott Montgomery:Fairlington is a Great Neighborhood-Must SeeFairlington A.K.A. Pleasantville Search for homes in Fairlington    
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By FRANK LL0SA Esq.- Northern Virginia Broker .:. FranklyRealty.com
(Northern Virginia Homes - FRANKLY REAL ESTATE Inc)
The first builder I noticed offering "Pricing Guarantees" was The Park At Courthouse, An Arlington Condo. I thought the idea was brilliant. A promotional plan that would give buyer's some security in their preconstruction purchase, in case prices dropped. So in theory, if you bought a place for $400,000 and a few months later, that exact or similar unit dropped to $390,000, you would get notice that your unit is now $10,000 cheaper for you. This was even featured in The Washington Post (thanks to me) on Dec 2006 Read Article. Supposedly they have already made 3 price corrections for past buyers. Now comes the MISSING ASTERISK. 1) They won't say the amount of the price corrections (we asked). This leads me to think that they were probably just token $5k or $10k adjustments and more used ...
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By Ellen Crawford, Alpharetta Real Estate Agents & Alpharetta REALTOR
(Maximum One Executive REALTORS®)
Arlington Virginia real estate market report 5/15/2007.  Home sales in Arlington Virginia have actually increased over last years sales by an impresive 16.67%  the Days on Market have increased at a reasonable rate for an average on 73 Days on Market average to sell a home in Arlington Virginia.  Arlington Virginia remains a very sought after place to live in the DC area.  Arlington homes, condos in Arlginton, and townhomes in Arlington continue at a good rate because Arlington has a great location! Arlington is the perfect place to live in the Washington DC metropolitan area. With easy access to the DC area by car, WMATA, public transportation, and a highly skilled work force, Arlington continues to thrive around Metrorail stations in the Rosslyn-Ballston. Pentagon, and Jefferson Davis...
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By Katie Wethman, CPA, MBA, Realtor - Northern Virginia & DC Real Estate
(Keller Williams)
...not because we don't want to, but because we're not allowed by law!When I'm out with buyers, I'm almost always asked "Is this a safe neighborhood?" or "What's the crime like in this part of town?" or "Is the school system here good?"  The issue with answering these questions is 1) that I cannot be perceived as "steering" you towards a particular neighborhood and 2) quality is always in the eye of the beholder. Here's a great article every buyer should read, with links to research on schools, crime stats, environmental effects, and demographics.What Realty Agents Won't Tell You
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By Katie Wethman, CPA, MBA, Realtor - Northern Virginia & DC Real Estate
(Keller Williams)
Inventory is slowly but surely dropping to more manageable levels in the area.  Are there fewer sales? YES! But prices for the most part remain high. Why? The flippers have become landlords to ride this out, so supply dropped a bit. People who didn't have to sell decided to wait it out as well and supply dropped a bit more. There are about 20% fewer listings today than a year ago:And the local economy, as I've mentioned before, draws people to the area, so demand has helped maintain that equilibrium price. So, we have demand stable (at worst) to growing, and supply stable (at best) to shrinking. Is April's uptick in average sales price just the normal spring "bounce"? Or the start of a trend? Data Source: MRIS. Data deemed reliable but not guaranteed.
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