
|  | Virginia Real Estate News | The Best News and Information on Northern Virginia and Washington DC Real Estate | |
Welcome to Virginia Real Estate News! You've found a great blog --
in fact this blog is the best place on the Internet to find news and information
on the Northern Virginia and Washington D.C. real estate markets. I'm Brian Block, an experienced Realtor with
RE/MAX Allegiance in Alexandria,
Virginia. We'll cover local Virginia and D.C. area information,
housing news, homes for sale, homebuying and homeselling tips, relocation
information, and everything you need to know about buying & selling Virginia
and D.C. real estate. Be sure to catch our monthly audio Podcast on
interesting real estate topics. | |
|
| | March 09, 2010 | | |
If you've been reading my blog for some time, live in the Northern Virginia area, or have been contemplating a move here (why haven't you called yet?), chances are you know that McLean, Virginia is one expensive community.

Back in 2008, I wrote Meet McLean, Virginia: The Fourth Most Affluent Community in the U.S. A year later, when McLean took the top rank of wealthiest community in America, I penned (okay, really I typed) "It's a Great Place to Have a Real Estate Office, I Can Tell You That!"
Reading my monthly rundown of the most expensive home sales in Northern Virginia, you'll notice that homes in McLean always make the list. Here's the latest: February 2010's Most Expensive Home Sales in Northern Virginia.
Much of the inventory of homes for sale in McLean are above the million dollar mark and often well above. Almost 2/3 of the McLean homes on the market are listed for sale at $1 million plus. Here's where inventory stood last month: McLean's Million Dollar Market: What's Available?
Here's one reason for the appeal of McLean, VA: Commuting from McLean, Virginia: Easy Drive to Almost Everywhere.
Perhaps you want to live in McLean, but don't have a million dollars to throw around (or can't qualify for a super jumbo mortgage loan). As the Managing Broker of RE/MAX Allegiance in McLean, Virginia, I want to reassure you that:
Contrary to Popular Belief You CAN Buy a Home in McLean, Virginia for Under $1 Million!

As of today, there are 65 homes listed for sale in McLean for under $1 million (that's out of 185 total McLean homes on the market).
Those homes include 18 single family homes, 6 townhouses, and 41 condos.
Here's a sampling of McLean homes you can purchase for under $1,000,000 (click on the links for more details):
Single Family:
4 Bedroom 4 Bathroom Split Level on 1/3 Acre
5 Bedroom 3 Bathroom Rambler - Broyhill Langley Estates
5 Bedroom 4.5 Bathroom Colonial - Brynmawr Heights
Townhouses:
3 Bedroom 3.5 Bathroom Townhouse - Hallcrest Heights
3 Bedroom 3.5 Bathroom Townhouse - Hamptons of McLean
4 Bedroom 3.5 Bathroom Townhouse - McLean Corner
Condos:
1 Bedroom 1 Bathroom Condo - Fountains at McLean
2 Bedroom 2.5 Bathroom Condo - Park Crest
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If you plan to purchase or sell a home in the Northern Virginia or D.C. area,
| Topic Tags: brian block, fairfax county homes, homes for sale in mclean va, homes under $1 million in mclean, mclean va real estate, mclean va realtor, mclean virginia homes for sale, mclean virginia houses, mclean virginia real estate broker, mclean virginia real estate for sale, million dollar homes, re/max allegiance, re/max allegiance mclean virginia |
| |
| | March 08, 2010 | | |
Are you wondering about Northern Virginia real estate and pondering what has sold recently?
Here's some information about the most expensive home sales in Northern Virginia (Arlington County, Alexandria City, Fairfax City, Fairfax County, and Falls Church City) for February 2010. All information was obtained through MRIS.
Overall, there were only 24 Northern Virginia home sales topping $1 million during February 2010, half as many as sold in January.
Currently, there are 639 homes on the market in Northern Virginia with list prices topping $1 million just up from the 633 that were on the market in January.
FEBRUARY 2010'S MOST EXPENSIVE SALES
Single Family Detached Homes:
- 7426 Dulany Drive, McLean, VA 22101 -- Sold on February 12th for $2,700,000
Built in 2008, this 6 bedroom, 4 level home is in the Elmwood Estates area of McLean. After a long time on the market, it sold for almost $300K below the asking price.
- 7608 Southdown Road, Alexandria, VA 22308 -- Sold on February 8th for $2,400,000
Overlooking the Potomac River, this home features a 64 foot by 14 foot flagstone terrace, 2 car garage, custom windows and doors and a library with built-in bookcases. The house has nearly 4,500 square feet of space throughout 4 bedrooms, and 4.5 bathrooms.
- 7523 Old Dominion Drive, McLean, VA 22102 -- Sold on February 1st for $2,385,000
This 6,680 square foot home has 7 fireplaces! Built in 1984, it is situated on 1 acre with a gated entry. The custom home provides a great elegant venue for entertaining in McLean.
- 10495 Hannah Farm Road, Oakton, VA 22124 -- Sold on Feburary 26th for $1,700,000
In the Hannah Hills area of Oakton, this 5 bedroom home has a gourment kitchen, billiards area, and a pool on just over an acre. The luxury lower level also includes a full cherry wet bar, card room, and media room.
- 8718 Woodside Court, McLean, VA 22102 -- Sold on February 23rd for $1,675,000
On 1 3/4 acres in McLean, this Woodside Estates home was built in 2000 and has a view of Woodside Lake.
CLICK TO SEARCH FOR AVAILABLE SINGLE FAMILY HOMES IN NORTHERN VIRGINIA
Townhouses:
- 1457 Hampton Ridge Drive, McLean, VA 22101 -- Sold on Feburary 26th for $928,000
February's most expensive townhouse sale was at the Hamptons of McLean -- a townhouse built in 1988 with a two-story foyer and curved staircase and over 3,270 square feet of space. The home has 3 bedrooms and 3.5 bathrooms, and updated kitchen with butler's pantry, and a new roof.
- 12 Franklin Street, Alexandria, VA 22314 -- Sold on February 26th for $924,500
This Ford's Landing townhouse in Old Town Alexandria overlooks the Potomac River. It has 4 bedrooms and 3.5 bathrooms on 4 levels. There's also a one car garage.
- 2030 Beacon Heights Drive, Reston, VA 20191 -- Sold on February 16th for $875,000
This large (3,237 square foot) townhouse has 5 levels and is on the waterfront on Lake Audubon in Reston. Built in 2003, this home has a gourmet kitchen with granite counters and stainless steel appliances, a central vacuum system, security and audio systems and a custom elevator!
- 3828 N. Tazewell Street, Arlington, VA 22207 -- Sold on February 24th for $873,500
Just two minutes away from Chain Bridge, this townhouse has 4 bedrooms, 3.5 bathrooms, three fireplaces, and an elevator. It also has hardwood floors, a wet bar, and a 1 car garage.
SEE AVAILABLE TOWNHOUSES IN NORTHERN VIRGINIA
Condominiums:
- 1401 N. Oak Street #G-1, Arlington, VA 22209 -- Sold on February 22nd for $950,000
Located at The Weslie in Rosslyn, this first floor end unit is on 3 levels with over 2,600 square feet of living space. The 12 foot ceiling on the main level faces a 50 foot wall of glass that opens to a large patio with views of the Washington D.C. monuments. The condo has 3 bedroom and 2.5 baths and was built in 1981.
- 900 N. Stafford Street #2620, Arlington, VA 22203 -- Sold on February 25th for $875,000
This 2,370 square foot 4 bedroom condo at the Alta Vista is on 2 levels with a fantastic view facing East towards Washington D.C. It's right above the Ballston metro stop.
- 400 Madison Street #1302, Alexandria, VA 22314 -- Sold on February 26th for $600,000
All the rooms of this Alexandria House condo afford views of Old Town Alexandria and the Potomac River. The complex was built in 1975, and this unit has a sixty-foot balcony, 3 bedrooms, 2.5 bathrooms, and 2 garage parking spaces.
- 888 Quincy Street #1401, Arlington, VA 22203 -- Sold on February 23rd for $600,000
Located at the recently built Residences at Liberty Center in Ballston, this 14th floor unit has a great view of D.C. With 2 bedrooms and 2 bathrooms, this condo has a square footage of 1,183, all very close to the Ballston metro.
SEE AVAILABLE CONDOMINIUMS IN NORTHERN VIRGINIA
   
Contact Brian Block, Managing Broker, REALTOR/Attorney, RE/MAX Allegiance: Licensed in Virginia & Washington D.C. 703-626-0715 If you are interested in purchasing or selling a property in Northern Virginia including Arlington County, Alexandria City, Annandale, Burke, D.C., Fairfax County, Falls Church City, Great Falls, Lorton, McLean, Springfield, Washington D.C., contact Brian today.
Thank you for reading my blog post. If you like what you’ve read, then please:
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If you plan to purchase or sell a home in the Northern Virginia or D.C. area,
| Topic Tags: alexandria virginia townhouses for sale, brian block, homes for sale in northern virginia, mclean homes for sale, mclean real estate, million dollar homes for sale, million dollar homes northern virginia, most expensive condos in arlington va, most expensive home sales in northern virginia, northern virginia real estate blog, re/max allegiance |
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| | March 07, 2010 | | |
OPEN HOUSE TODAY, MARCH 7TH, 1-4 P.M. As you're heading down Edsall Road in Alexandria coming from either I-395 or
Van Dorn Street, you'll turn onto Winterview Drive and along the windy road be
transported back and away into the wonderful community of
Overlook. You'll pass a mock guardhouse, a tennis
court, and lots of open space on your way to...
This Huge Townhouse in
Overlook!

Located at 5263 Morning Mist Lane,
Alexandria, VA 22312, this luxury 3 bedroom 3.5 bathroom townhouse
offers plenty of space. The home is beautifully decorated and shows like a
model home. As of August 20th, the sign's in the front yard, the lockbox is on
the door, and 5263 Morning Mist Lane is waiting for you to call
"her" home.
Attractively priced at just
$565,000!
The size of the Master Bedroom alone will blow you
away!

With a 3 level bumpout, this elegant
Overlook townhouse will make you fall in love with your home search all
over again. The owner's suite (master bedroom) has a sitting area and 2, count
'em 2 walk-in closets.
The beautiful open layout of the main level is
perfect for entertaining. Upgraded ceramic tile, a center island, granite
counters, and a gas cooktop making cooking a joy!

You'll love the fact that the laundry room is on the
top floor with the bedrooms.
Downstairs the finished basement offers the option
of a home gym, entertainment room, or use your imagination. There's also a full
bathroom on the basement level.

With a 2 car garage, a backyard, and the amenities
of the Overlook community (pool, tennis court, open space, convenience), you
will love this townhouse!

View the online virtual tour of this
Overlook townhouse.
Watch a YouTube video of this Overlook
home (please ignore the background music or turn off
your speakers!)
For more details on this lovely home or to
arrange a private showing, call me today at 703-626-0715 | |
| |
| | February 28, 2010 | | |
I produced this video about a year ago. Nothing has changed except I'm the Managing Broker of RE/MAX Allegiance in McLean (the video says I'm a broker in Alexandria - I live in Alexandria and still sell homes there as well)
Additionally, since this video was shot, I've helped even more Northern Virginia and D.C. folks achieve their real estate goals, whether that included buying, selling, or renting a home. | |
| |
| | February 27, 2010 | | It's very rare or more likely never that I've posted a picture or chart
without much explanation. However, this chart showing the return on
investment over the last decade requires very little commentary.
Granted... depending upon your timing, your return may be significantly
different. However, the chart does make its point.
Please note: Past performance is not necessarily indicative of future
returns.

| Topic Tags: brian block, compare real estate to stock market, dow jones roi, nasdaq roi, northern virginia real estate, northern virginia real estate blog, re/max allegiance, real estate as an investment, real estate is a good investment, real estate roi, return on investment |
| |
| | February 26, 2010 | | Want some great news? Who doesn't?
The U.S. Bureau of Labor Statistics released an unemployment report
today that examined the rates of unemployment in the Northern
Virginia counties and cities.
Unless you've been living under a rock, haven't turned on the t.v., read a
newspaper, been on the internet, or walked down the street in the last 6 months,
you're aware that the unemployment rate in the United States has skyrocketed to
the 10% region.
Well, in Northern Virginia, most areas are doing quite well when it comes to
employment statistics, and some counties, like Arlington, Fairfax, and Loudoun
are doing phenomenal -- less than half of national
unemployment.
Here's a look at unemployment numbers as of December
2009:
- Arlington County -- 4% unemployment
- Fairfax County -- 4.6% unemployment
- Loudoun County -- 4.6% unemployment
- Alexandria City -- 4.8% unemployment
Even Fredericksburg VA, with its comparatively high 9.9% unemployment rate is
far below many other hurting areas of the nation.
Compare the above numbers with those of some other major metropolitan
areas:
- Atlanta -- 10.1% unemployment
- Chicago -- 10.6% unemployment
- Los Angeles -- 11.3% unemployment
- Tampa -- 12.4% unemployment
- Las Vegas -- 13.1% unemployment
- Detroit -- 14.8% unemployment
Click here to view D.C. & Northern Virginia unemployment
numbers on an area map.
With these numbers, it's no wonder people
from around the country are starting to search for homes
in Northern Virginia and moving here! | Topic Tags: brian block, d.c. unemployment, d.c area jobs, jobs in northern virginia, las vegas unemployment rate, northern virginia employment, northern virginia home search, northern virginia real estate blog, re/max allegiance, unemployment in northern virginia, unemployment rates |
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| | February 26, 2010 | | Caveat Emptor -- that's Latin for "buyer beware."
In today's real estate market, with the prevalence of foreclosures and short sales in Northern Virginia and D.C., I would caution that this phrase should read differently. Since I don't speak Latin nor know anybody else who does (even though I graduated from law school and there are even more Latin terms in law than there are in real estate), I'll write it in English.
Today's phrase is:
BUYER BE VERY AWARE!
When you're buying a home, unless it's from a friend or family member, it is very unlikely that you know the seller of the home. However, when you are purchasing a foreclosure home, you do know the seller! It's Freddie Mac, Fannie Mae, Wells Fargo, Bank of America, or some other well-known banking institution.

Banks are not in the business of selling real estate, but due to the foreclosure crisis, many of them have a large inventory of homes on the market. Unlike a traditional Northern Virginia or D.C. home seller, the banks do not know the condition of the property they are selling, and in most cases nobody from the bank has ever stepped foot in the house you're looking to purchase.
Banks are selling these foreclosure properties, "As Is."
While banks use their own addendums (or additional documentation for the real estate contract), the standard Regional Sales Contract for Northern Virginia and D.C. contains the following definition of "As Is":
"The Seller makes no representation or warranty, express or implied, as to the condition of the Property or any equiment or system contained therin. The Seller will have no obligation to make repairs to the electrical, plumbing, heating, air conditioning, or any other mechanical system, equipment or fixture."
In addition, this clause allows the seller to waive the following normal requirements:
- Property delivered free and clear of trash and debris
- Clauses pertaining to termites
- Clauses pertaining to Private Well and/or Private Sewage Systems
- Clauses pertaining to compliance with city, state or county regulations
- Clauses pertaining to compliance with Property Owner's or Condominium Owner's Assocations.
Let me emphasize again, if you're buying an "As Is" Property in Northern Virginia or D.C.:
BUYER BE VERY AWARE!
However, this does not mean that you are blindly buying a home without taking any precautions.
Although you are purchasing a property "As Is" you still need to know what the definition of "As is" is (with deference to former President Bill Clinton's grand jury testimony).
You should always have a home inspection especially on a bank owned property! Even though the banks won't necessarily fix anything or give any credit off the price for necessary repairs, at least you'll know what you're getting into with the purchase of the home.
The home inspection will enable you to find out the exact "As Is" condition of the property. Once you are satisfied with the present condition is when you proceed with the purchase. If not, make sure the contract says that you can cancel the deal based upon the home inspection. VERY IMPORTANT!
Even if you're not buying an "As Is" foreclosure property, I always recommend a home inspection.
Thank you for reading my blog post. If you like what you’ve read, then please:
| |
| |
| | February 22, 2010 | | Chances are that if you're looking to buy a home in
the D.C. metropolitan area, you may be scared of the home
prices. Whether you're a first time homebuyer, moving up to a larger
home, buying an investment property, or relocating to the D.C. area, you're
spending some time and effort tracking the home prices throughout the region.
You might look at the prices of homes coming across your computer screen after
doing a home
search or signing up to receive listing e-mails and
shriek!
As with any purchase that involves 6 (or more) digits after the dollar sign,
fear most
likely is weighing in to the decision-making process.
Some education about the market can help dissipate some of that fear.
D.C.
Homebuyers: Take some solace in knowing that while home
prices may not make the D.C. area the most affordable market, D.C. area real
estate is far from being the least affordable.
According to a CNNMoney Report, here are the five
Most Affordable metro areas to buy a home:
- Indianapolis
- Detroit
- Dayton, OH
- Youngstown, OH
- Akron, OH
The 5 Least Affordable Metro Areas are:
- New York City
- San Francisco
- Honolulu
- Santa Ana, CA
- Los Angeles
The report compared the median price of homes with the median
household income in all the metropolitan regions to come up with the
most affordable and least affordable places to purchase a home. For example, in
Indianapolis, where the median price of a home is $106,000 and the median
household income is $68,100, 95.7% of median income households can afford a
median priced home. Contrast that with New York City, where the median home
price is $425,000 and the median income is $64,800 -- only 19.7% can afford the
median priced home!
I took a look at the D.C. area numbers. Household income is very
high in the D.C. metropolitan region - $102,700 median household income. The
average sales price of a home in the 4th quarter of 2009 was $376,188.
So many of our high salaried D.C. area residents can afford these average priced
homes, even though the prices are higher than many areas of the country.
As of today, there are over 2,500 homes in
Washington D.C. and Northern Virginia that could be yours
for under the average price of $376,188. | |
| |
| | February 19, 2010 | | |
Sometimes we need to take a look outside of our local Northern Virginia & D.C. real estate market and see what's going on around the nation. Of course when you live in the metro-D.C. area, local news is often national news.
Here are some interesting recent headlines with links to the full stories:
Frustrated Owner Bulldozes Home Ahead Of Foreclosure -- This happened in Ohio. I don't recommend doing this. I've seen many foreclosure homes that have been severely damaged or pillaged by the previous owner, but this is the first I've heard of a frustrated owner getting a bulldozer!
Report: Fewer people falling behind on home loans -- A positive sign. Perhaps the end of the foreclosure crisis is in sight. For the first time in almost 3 years, the number of homeowners falling behind on their loands is declining.
10 Cities for Real Estate Steals -- Memphis, Phoenix, Cincinnati, Fayetteville, and yes, Washington D.C. made the list. See the full list and learn more by clicking on the link to the article.
Rates on 30-year home loans fall to 4.93 pct -- Interest rates are very low. Low interest rates allow you to afford more home for the money. Think about buying... or refinancing if you already own a home.
Here's my local lending partner you can call: Keith Livingston, Bank of America -- 703-350-9634
Jon and Kate Gosselin not immune to real estate bubble; exes sell starter house at a loss -- There's a lot of these types of stories lately. I guess some people take some weird comfort in knowing that the problems in the real estate market are hitting the celebrities too!
Enjoy these news stories and let us know what other national real estate news stories you find interesting!
Thank you for reading my blog post. If you like what you’ve read, then please:
| Topic Tags: brian block, bulldozing foreclosure home, fewer foreclosures, home sale jon and kate gosselin, jon and kate gosselin, jon and kate gosselin home, mortgage interest rates, mortgage rate drop, national real estate news, northern virginia real estate blog, ohio man bulldozer foreclosure, re/max allegiance, real estate steals, top 10 cities for real estate deals, virginia real estate news |
| |
| | February 19, 2010 | | Do you lke what you've been reading here?
Whether you're a regular reader of this blog, or you came here from a search
engine (most likely Google) looking for information on Northern Virginia and/or
D.C. real estate, I recommend that you check out our Block Real
Estate Group Facebook Page at:
www.facebook.com/blockrealestate

By becoming a "Fan" of our Facebook Page,
you can continue to find the same great real estate information you find here,
plus additional Facebook only content such as interesting real
estate stories from other sources, client testimonials, and periodic contests
(we had a Halloween Home Decorating Photo Contest in the Fall).
Here's a sampling of what you can find on our Facebook
Page:

Please feel free to post your own questions about
the real estate market or the home buying or selling process on the Facebook
page -- it's meant to be interactive.
Here's another sampling:

If you like what you see, please share
this Facebook page with your friends, family and colleagues (especially those
who may be interested in the Northern Virginia & D.C. real estate markets).
They'll be thankful you sent them there.
And, so will I.
You can also follow me on Twitter: @blockrealestate

| |
| |
| | February 18, 2010 | | Today, I found 228 homes in Washington D.C. and Northern Virginia
that have been listed on the MLS and on the market for more than 365
days. An entire year or more on the market! 29 of those homes have
been actively on the market for over 2 years! Can you imagine? Two years of
keeping your home clean, having a lockbox on the door, and leaving the house on
Sundays so a REALTOR can hold an open house!
That is a very long time even in today's slower market.
While 86 of these homes are over $1 million (which you might
expect to be on the market a bit longer anyway), over 60% of these long-time
listings are under that price.
How do this compare to the average time for sale? Well, of the 1,847
homes that have sold so far this year in D.C. and Northern Virginia, the average
days on market was 53.
WARNING: You Don't Want Your Home on
the Market Forever!
One of the first questions buyers ask is "How Long Has That Home Been on the Market?" More
often than not, buyers will use this information to determine how much they wish
to offer for the home. That is, if the buyer even makes an offer at all. The
longer a home has been on the market, the less chance it will get an offer from
buyers because they will often think something is wrong with the house that's
been on the market for so long. In reality, the only thing wrong with the
home may be the price!
If when checking out these homes, I notice that there have been no price
reductions or very small price reductions, it becomes obvious to me that the
sellers are not very motivated and unlikely to negotiate. Chances are there
were some offers for the property early on, but that the sellers refused to
lower their price to get the deal done and the house sold.
When working as a listing agent representing the seller of a home, I do not
want my seller's home on the market for more than a year with no price
reductions. We'll often agree upfront to scheduled price reductions after set
periods of time without an offer to get the home sold. The better strategy is
to just price it right at the beginning. | Topic Tags: brian block, d.c. homes on the market, days on market d.c. homes, days on market in northern virginia, homes for sale in d.c., northern virginia real estate blog, northern virginia real estate news, pricing a home right in northern virginia, re/max allegiance, selling a home in d.c., selling a home in northern virginia |
| |
| | February 15, 2010 | | If you're only a casual follower of the real estate market, you've probably caught tidbits here and there on the news. There's lots of scare stories out there: foreclosures, short sales, resetting ARMs, banks going out of business, plummeting prices, etc.
It's enough to transform you from a ready, willing and able homebuyer into a cowering, spineless, anonymous creature who'd rather hole up in a cave somewhere in the mountains of Afghanistan than take your chances at entering into the tumultuous real estate market.
Had you been planning to sell your house you may have decided to stay still or rather pull your turtleneck over your head and hide for a few years until things get sorted out.
You hear it screaming from the television, the internet sites, and the newspapers: stay away from the housing market, it's scary out there. Yikes! Watch out! Prices are still going down. It could be a double dip.
Casual observers, I'm happy to report that in the D.C. area, it's not a disaster.
Au Contraire, Mon Frère!
That's French for "on the contrary, my brother!" While I don't get to use my high school French language skills often (Spanish would have probably been a much better and more useful choice), this cute rhyming phrase works perfectly here.
According to the Washington Business Journal (WBJ) and a report by the National Association of REALTORS, housing prices in the D.C. area ROSE 3.8% from the end of 2008 to the end of 2009.
Not what you expected or what you've been lead to believe!
The WBJ article states that in the Washington region, single-family home sales averaged prices of $306,200 compared to a price of $295,100 in the final quarter of 2008. Area condominium prices were down just 1.3 percent from a year ago to a price of $239,000.
Moreover, on a national level, in the fourth quarter, 67 of the nation's largest 151 metro areas had higher median single-family home prices. While, it's less than half of these metro area, it does bode well for many more regions than you might have thought.
Mortgage interest rates are still very low. The Federal Homebuyer Tax Credit is still available (though time is running out).
For analysis and a consultation regarding your options in today's Northern Virginia and D.C. real estate market, make sure to contact a seasoned real estate professional. That's me!
Thank you for reading my blog post. If you like what you’ve read, then please:
| |
| |
| | February 12, 2010 | |
Incredible record-breaking amounts of snow that we've
received in the past week have caused municipality snow removal budgets to be
squeezed, road conditions to remain impassable in certain locations, large tree
branches to come tumbling down, and federal government employees (and just about
everyone else in the D.C. area) to remain holed up inside.
All of this has indeed affected the real estate market in Northern
Virginia.
- Many settlement companies have been closed for much of the week, so even
those sales scheduled to go to settlement this week have been
delayed.
- REALTORS (except perhaps those with Hummers) have been unable to show many
homes; and
- People have just not been able to do much of anything except watch
television, surf the internet, relax with a good book and some hot cocoa, or
entertain their kids who have been out of school all week.
Nonetheless, the Northern Virginia housing market stops for nobody - not even
Mother Nature. It may slow down, and slow down significantly but it
does not stop!
Here then are some statistics about sales during the snowiest week on
record in Northern Virginia:
In the last 7 days (remember the snow started last Friday), there
have been 71 closed sales in
Northern Virginia (including the jurisdictions of Alexandria,
Arlington, Fairfax County, Fairfax City, and Falls Church).
Additionally, 247 contracts
were ratified during the past 7 days.
These numbers are quite a bit off from the previous two weeks of real
estate activity in Northern Virginia which respectively saw 276 sales and 495 contracts ratified,
and 287 sales and 409 ratified
contracts.
I'm expecting that next week will be back to a normal pace of real estate
activity (or even a slight increase due to things that were delayed from this
week).
Most of the roads are cleared at this point and people are itching to get out
of their homes. I know that I'll be showing some Alexandria condos to
some clients tomorrow.
The sky is blue. The snow WILL melt. The roads are cleared. And
the Block
Real Estate Group is open for business.
You might want to hurry. In order to
qualify for the Federal Homebuyer Tax Credit, you need to ratify a contract on
your new home by April 30, 2010. | Topic Tags: alexandria virginia condos, block real estate group, brian block, homebuyer tax credit, northern virginia home sales, northern virginia homes for sale, northern virginia housing market, northern virginia real estate blog, northern virginia real estate market, re/max allegiance, snowiest week on record, snow in northern virginia |
| |
| | February 11, 2010 | |
McLean Virginia has the highest percentage of million dollar
homes on the market as a share of the entire housing inventory anywhere in
Northern Virginia. Yes, fully 67% of the homes on the market in McLean
are priced at $1 million or more, and more than half of those are
priced over $2 million.
It's nice to boast of these stratospheric listing prices, but do these homes
actually sell. The answer is yes. In the past 12 months, 43% of the
single family homes sold in McLean went for over $1 million.
Current Picture of the
McLean Real Estate Market
SUPPLY: As of February 11, 2010, there are about
191 homes on the market in McLean, Virginia. These range in
price from $165,900 to $17.5 million, with an average listing price of
just over $2 million.
DEMAND: In the last 30 days, 27 homes sold in the
McLean, VA. At this pace, there'd be a 7.07 month inventory of homes
on the market.
Here are the details about the housing inventory in
McLean.
McLean Virginia Single Family Homes
Most of the McLean market is single family homes.
137 Single Family Homes are on the market in McLean at an
average price of $2,589,569. The prices range from $545,000 to
$17.5 million. There are only 16 homes priced below $1 million while there are
another 16 McLean homes priced above $4 million!
The largest concentration of homes are in the following McLean
neighborhoods:
Chesterbrook -- 10 homes available --
Average price $1,105,895
Langley Farms -- 6 homes available --
Average price $5,090,500
Woodside Estates -- 6 homes available -- Average price
$2,700,500
CLICK HERE TO FIND A SINGLE FAMILY HOME IN MCLEAN
McLean Virginia
Townhouses
Only 13 Townhouses are on the market in McLean at an
average listing price of $1,035,969. The range in prices for
McLean townhouses is between $419,000 and $1,795,000.
Townhouses in McLean are available in the following communities: Evans Farm,
Evans Mill Pond, Hallcrest Heights, Hamptons of McLean, Mclean Mews, McLean
Place, Merryhill, Merrywood on the Potomac.
FIND A TOWNHOUSE IN MCLEAN
McLean Condominiums
43 condos are on the market in McLean Virginia at an average price of
$466,120. The range of prices for these condos is between $165,900
and $1,375,000.
Condos are available in the following McLean condo communities: Fountains at
McLean, Gates of McLean, McLean House, Park Crest, Regency at McLean, Rotonda,
and The Colonies.
FIND A MCLEAN CONDO | Topic Tags: brian block, chesterbrook mclean, condos for sale in mclean, evans farm mclean, expensive homes in mclean, fountains at mclean, langley farms, mclean mews, mclean place, mclean va, mclean va real estate, mclean virginia blog, mclean virginia homes for sale, mclean virginia real estate, mclean virginia real estate market, million dollar homes mclean, northern virginia real estate blog, re/max allegiance, regency at mclean, rotonda, single family homes in mclean va, woodside estates |
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| | February 11, 2010 | | Real estate, like any other market, is all about supply and
demand.
SUPPLY: As of February 11, 2010, there are about
425 homes on the market in Alexandria, Virginia.
DEMAND: In the last 30 days, 101 homes sold in the
City of Alexandria. January and early February are traditionally very
slow times for the Northern Virginia real estate market. At this pace, there'd
be a 4.2 month inventory of homes on the market. That's not a lot of
inventory! However, I expect that the warmer Spring days will usher in
a somewhat heated up real estate market with both more inventory on the market
and more sales volume.
Here are the details about the housing inventory in
Alexandria -- if you're thinking about buying a home in Alexandria
or elsewhere in Northern Virginia, you might want to whisper to your
sweetheart this Valentine's Day that he/she ought to read this blog.
Alexandria Virginia Single Family Homes
63 Single Family Homes are on the market in Alexandria at an
average price of $1,030,322. The prices range from $399,900 up
to $4,450,000. There are 19 homes priced at one million dollars or more.
However, there are over 20 Alexandria single family homes priced below
$700,000.
The largest concentration of homes are in the following Alexandria
neighborhoods:
Beverly Hills -- 4 homes available --
Average price $914,950
Braddock Heights -- 5 homes available --
Average price $833,560
Old Town -- 5 homes available -- Average price
$1,834,980
Rosemont -- 4 homes available -- Average
price $1,229,725
Seminary Ridge -- 4 homes available -- Average price
$1,117,250
CLICK HERE
TO FIND A SINGLE FAMILY HOME IN ALEXANDRIA
Alexandria Virginia
Townhouses
136 Townhouses are on the market in Alexandria at an
average listing price of $902,458. The range in prices for
Alexandria townhouses is between $239,000 and $5.7 million.
The highest concentration of townhouses are in the following Alexandria
communities:
Cameron Station -- 6
townhouses -- Average price $674,067
Fords Landing -- 5 townhouses -- Average
price $1,842,600
Old Town -- 35 townhouses --
Average price $1,430,518 (note that this number is skewed a bit
because of a townhouse on the market for $5.7 million and another for $5
million. Without these two homes, the average price in Old Town is $1,194,489
-- over $236K less).
Parkfairfax -- 6 townhouses -- Average
Price $315,132
Potomac Greens -- 6 townhouses -- Average
price $864,917
FIND A
TOWNHOUSE IN ALEXANDRIA
Alexandria Condominiums
Over 200 condos are on the market in Alexandria:
93 Garden Style condos (1-4 floors) at an Average price of
$345,069
30 Mid-Rise condos (5-8 floors) at an Average price of
$315,078
80 High-Rise condos (9+ floors) at an Average price of
$256,675
FIND AN
ALEXANDRIA CONDO
| Topic Tags: alexandria real estate blog, alexandria va homes for sale, alexandria va realtor, alexandria virginia homes for sale, alexandria virginia real estate, alexandria virginia townhouses, average price of homes in alexandria va, brian block, condos for sale in alexandria virginia, northern virginia real estate blog, re/max allegiance |
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| | February 09, 2010 | | Are you wondering about Northern
Virginia real estate and pondering what has sold recently?
Here's some information about the most expensive home sales in
Northern Virginia (Arlington County, Alexandria City, Fairfax City,
Fairfax County, and Falls Church City) for January 2010. All information was
obtained through MRIS.
Overall, there were 48 Northern Virginia home sales topping $1
million during the first month of 2010.
Currently, there are 633 homes on the market in Northern Virginia with list
prices topping $1 million just up from the 627 that were on the market in
December.
JANUARY 2010'S MOST EXPENSIVE SALES
Single Family Detached Homes:
- 1030 Aziza Court, Great Falls, VA
22066 -- Sold on January 4th for $2,800,000
After a
long time on the market, this home built in 2008 sold for $800,000 under the
listing price of $3.6 million. With 6 bedrooms, 8 full bathrooms, and 8
fireplaces, this Great Falls home features luxuries such as an elevator, sauna,
home theater and 4 car garage.
- 1317 Kurtz Road, McLean, VA 22101 -- Sold on January 4th for
$2,285,000
Sold in just 13 days for 96.2% of the listing
price, this home in Salona Village of McLean was built in 2008. In addition to
5 bedrooms and 5 full bathrooms, this custom designed home has outdoor
fireplaces and porches offering vistas of parkland. The home has a gated entry,
6 fireplaces, and a 3 car garage.
- 2373 N. Fillmore Street, Arlington, VA 22207 -- Sold on January
27th for $1,825,000
Green house! Not the color, but the
whole house is 5 star Energy Star Certified. This 6 bedroom, 6.5 bathroom house
is in the Woodmont neighbrohood of Arlington. It sold for just $100K under the
asking price.
- 1911 Kirby Road, McLean, VA 22101 -- Sold on January 5th
for $1,636,500
After a price reduction of $200K, this custom
built home built in 2004 recently sold. With almost 6,900 square feet of living
space, this home also has a heated pool, custom hot tub, and lush professional
landscaping.
CLICK TO SEARCH FOR
AVAILABLE SINGLE FAMILY HOMES IN NORTHERN VIRGINIA
Townhouses:
- 18 Franklin Street, Alexandria, VA 22314 -- Sold on January 29th
for $1,225,000
January's most expensive townhouse sale was
in the ever-popular Fords Landing area in Old Town Alexandria. This 3 bedroom
2.5 bathroom townhouse also has a 2 car garage.
- 1448 Harvest Crossing Drive, McLean, VA 22101 -- Sold on January
14th for $1,125,000
Located in McLean's premiere gated
community, this Evans Farm townhouse has 3 bedrooms, 2.5 bathrooms on 4 levels.
With an open floorplan and high-end kitchen, this home sold for $125K under the
listing price.
- 231 N. Lee Street, Alexandria, VA 22314 -- Sold on January 29th
for $1,050,000
Right in the heart of Old Town Alexandria,
this all-brick townhouse built in 1998 features 2,745 square feet of living
space, 3 bedrooms, 3.5 bathrooms, tall ceilings, and wood floors.
SEE AVAILABLE TOWNHOUSES
IN NORTHERN VIRGINIA
Condominiums:
- 1600 Clarendon Blvd. #W305, Arlington, VA 22209 -- Sold on January
28th for $1,700,000
Wooster and Mercer Lofts in Arlington
often make the list of most expensive condo sales. This is the most expensive
sale there in quite a while. 3 bedrooms plus an open loft and 3 bathrooms
providing a total of 3,000 of living space! This corner unit has views of
Courthouse and allows the new owner to easily walk to the
Metro.
- 1401 N. Oak Street #605, Arlington, VA 22209 -- Sold on January 8th
for $1,400,000.
Over in Rosslyn, this condo at The Weslie
provides 1,778 square feet of space, 2 bedrooms and 2.5 baths on 3 levels! The
awesome view of D.C., the Potomac River and the monuments make this spacious
condo a great place for entertaining.
- 11776 Stratford House Place #1104, Reston, VA 20190 -- Sold on
January 29th for $1,060,000
This huge 2,850 square foot
condo at Stratford House in Reston has 2 master suites and a third bedroom. All
the way from Reston, there are great views of Tysons Corner and the National
Cathedral!
- 828 Slaters Lane #406, Alexandria, VA 22314 -- Sold on January 29th
for $940,000
This penthouse condo at Old Town Crescent
offers almost 2,200 square feet of space throughout 3 bedrooms and 3.5
bathrooms. While close to D.C., this condo is right by the Potomac River and
biking and nature paths. The condo has two master suites, 2 parking spaces, and
a jacuzzi.
SEE AVAILABLE
CONDOMINIUMS IN NORTHERN VIRGINIA
   
Contact Brian Block, Managing Broker,
REALTOR/Attorney, RE/MAX Allegiance: Licensed in Virginia &
Washington D.C. 703-626-0715 If
you are interested in purchasing or selling a property in Northern Virginia
including Arlington County, Alexandria City, Annandale, Burke, D.C., Fairfax
County, Falls Church City, Great Falls, Lorton, McLean, Springfield, Washington
D.C., contact Brian today. | Topic Tags: brian block, january 2010 northern virginia home sales, million dollar condos, million dollar homes in mclean, most expensive home sales in northern virginia, most expensive homes in virginia, northern virginia homes for sale, northern virginia real estate blog, northern virginia realtor, re/max allegiance, real estate in alexandria virginia, wooster and mercer lofts |
| |
| | February 06, 2010 | |
Chances are that today you are going NOWHERE! There's 20
inches of snow right now and it's still coming down steadily.
I offered to
show homes today in my 4 wheel drive, but didn't get any takers...
Instead I'm relaxing at home with some hot cocoa in a mug provided by my
favorite local settlement company, The Settlement
Group.

However, once the snow stops, you may be interested in taking the
kiddies, or just yourself to go sledding. Where to go? Here, thanks
to the bloggers at
We Love D.C. is a list of the best area hills for sledding. Make sure you
bundle up!
Sledding Hills by Location
In D.C.:
- Meridian Hill Park (NW, U Street)
- Fort Reno (NW by American U.)
- 3545 Williamsburg Lane, NW (NW, Cleveland Park)
- Georgetown University's old school of dentistry (NW, Burleith)
Northern VA:
- Iwo Jima (Arlington)
- Mt. Reston (Reston)
- Suicide Hill (Alexandria - Martha Custis Dr. & Preston Rd)
- Hill at Mason District Park (Annandale)
- GW Masonic Temple (Alexandria)
- Fairfax County: Best Local Sledding Hills[pdf]
HAVE FUN! | Topic Tags: brian block, going sledding in washington d.c., northern virginia real estate, re/max allegiance, sledding hills in d.c., sledding hills in northern virginia, snowmeggedon, snowpocalypse, snowpocalypse 2, where to go sledding in d.c., where to go sledding in northern virginia, winter fun in d.c., winter fun in northern virginia |
| |
| | February 05, 2010 | | With April 15th just over 2 months away, you may be thinking about taxes. Here are a few articles that discuss ways to get tax credits for different improvements you may make around your home. -
A federal tax credit makes energy-efficient solar water heaters a more affordable and sustainable option for many homeowners. Read -
Upgrading to an energy-efficient heating and cooling system can save hundreds on your utility bills and earn you a tax credit worth as much as $1,500. Read -
Replacing your roof with a qualifying energy-efficient metal or asphalt roof can cut your cooling bill and earn you a $1,500 tax credit. Read -
A federal tax credit makes adding insulation an even cheaper way to improve your home?s energy efficiency and cut your heating and cooling bills. Read -
If money seems to be escaping through drafty windows, doors, and skylights, this federal tax credit might make energy-efficient replacements more affordable. Read | |
| |
| | February 01, 2010 | | "The Washington area housing market is in the early phases of the recovery cycle. Of note, most major market indicators have improved compared to one year earlier." -- MRIS Trends in Housing, Year-End 2009 Report If you're in the market to buy or sell a home in the D.C. or Northern Virginia area, you need all the information you can get. More than that, you need quality, reliable local information based on facts and figures, not sensationalized newspaper, magazine and television reporting hyping the ups and downs of the market to gain readership and sell advertising space.
Metropolitan Regional Information Systems (MRIS), the company that runs the Multiple Listing Service for the D.C. metropolitan area has just released its Trends in Housing Year-End 2009 Report. This report features an analysis of the regional economy, an examination of regional housing data and a review of trends, and discussion of the housing sector's impact on other industries.

Some of the significant findings include:
- In 2009, the number of homes sold in the Washington D.C. metropolitan area was up 11.4% from 2008.
- From December 2008 to December 2009, average home sales prices are UP 3% in Alexandria, 14.5% in Arlington, and 14.6% in D.C.!
- Washington area has the lowest unemployment rate among major metro areas -- 6.1%, compared to 10.0% nationwide.
- Low mortgage interest rates and the $8000 first-time homebuyer tax credit lured many buyers from the sidelines.
- Metro-D.C. home sellers continue to make concessions to buyers to facilitate sales, but those concessions are shrinking.
- In 2010, renewed demand will continue to yield yearly price gains with gains first apparent in the outer suburbs, but extending to other sub-areas by late 2010/early 2011.
- The National Association of Homebuilders estiamtes that the extended and expanded tax credit will generate 180,000 additional home sales nationally.
- The D.C. area local economy hit the bottom during the 1st half of 2009 and recovery is now underway.
CONCLUSION: BY MOST MEASURES, THE WASHINGTON METRO AREA HOUSING MARKET IS PERFORMING BETTER THAN MOST OTHER METROPOLITAN AREAS.
There's much much more in this 30 page report, including information on how foreclosures are affecting the market, information on new legislation affecting the housing sector, many graphs and charts, and predictions for the upcoming years.
Would you like a copy of the full report? Send me an e-mail at brian@brianblock.com
requesting it or leave a comment on this post.
Thank you for reading my blog post. If you like what you’ve read, then please:
| Topic Tags: 2010 d.c. real estate, 2010 real estate trends, brian block, d.c. housing market trends, d.c. real estate blog, d.c. real estate predictions, d.c. real estate trends, mris trends in housing report, mris trends in housing year-end 2009 report, northern virginia real estate blog, northern virginia real estate predictions, re/max allegiance, trends in 2010 northern virginia real estate |
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