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.
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)
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.
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
If money seems to be escaping through drafty windows, doors, and skylights, this federal tax credit might make energy-efficient replacements more affordable. Read
"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:
Video Tour of the Arlington VA Waste Treatment Facility
As homeowners, we tend to think more about the things coming into our house (i.e. electricity, gas, water, pests, etc.) rather than the things going out. However, lots of stuff leaves our homes every day in the form of waste.
What happens to it? Do you really want to know? I think inquiring minds want to know.
I recently met a water engineer who told me that while most people don't think about it, the costs of dirty water leaving our homes is more expensive than the costs of water coming into our homes -- the sewer part of the water & sewer bill makes up more of the expenses.
Arlington County, Virginia recently released a video that explains what happens to our "crap" at its waste treatment facility. If you've ever driven down South Glebe Road towards the intersection of Route 1 in Arlington (near Crystal City) you've likely noticed the stench.
Watch the entertaining and very educational video below to learn more about:
CRAP: Where it Goes & What Happens to It!
Thank you for reading my blog post. If you like what you’ve read, then please:
RE/MAX Allegiance Supports the Children's Miracle Network
Sure, the real estate market brings challenges for buyers, sellers, and for real estate agents.
Yet, despite those challenges, they are nothing compared to the challenges faced every day by young children with diseases, serious illness, or injury.
I'm very proud to announce that my company, RE/MAX Allegiance, through the generous contributions of our brokers, agents, and staff raised $173,572 in 2009 for the sick children in our markets!
When you buy or sell a home with me, I will make a contribution to the Children's Miracle Network on your behalf.
Thank you for reading my blog post. If you like what you’ve read, then please:
Comparing the real estate market in McLean
Virginia in January 2010 to the one that existed at this time last year, one
could describe it as an antelope running out of control! The McLean Virginia
market has shifted into highgear!
What's Happening in the McLean, Virginia
Real Estate Market?
Active homes for sale: 202 (including 20 new listings in the last
30 days)
Inventory in McLean is way down from the 360 active homes for
sale in January 2009.
Homes sold in the last 30 days: 37
Last year, due to the
economic meltdown of late Fall 2008, only 21 homes sold in the same time
period.
Average Sales Price: $864,969 compared to $741,137 in January
2009. A significant increase of over 16% in sales price in McLean.
Median Sales Price: $832,200 versus $552,110 in January
'09.
Average Days on Market: 60 versus 54 in 2009. Still relatively
quick sales.
Average Sales Price/Original Listing Price: 92.48% versus 90.65%
in January 2009. Homes in McLean are selling for closer to their asking price
this year.
Interesting Notes:
Based on
current rates of sale there's a 5.46 months' supply of McLean homes on the
market. Back in January 2009, there was an incredible 17 month supply of
inventory, due to slower sales and very high inventory!
There are 133 homes (or over 65%) on the market in McLean priced at $1
million or more.
The McLean real estate market is in high
gear! If you're looking to buy or sell in McLean, Virginia, let me help
you lasso this out of control antelope.
If you've ever spent a Spring day walking around Ben Brenman Park,
the large park adjacent to the Cameron Station neighborhood in Alexandria, you've definitely
delighted in the beautiful cherry trees around the lake.
Well, according to the Alexandria Gazette Packet, those cherry trees are
going to be a little less colorful this year.
Seems that "a pack of beavers has been munching on the trunks of
Yoshino trees there." The paper reports that "[c]ity arborists
have removed about 40 Yoshino cherry trees in the last two months in the wake of
the all-you-can-eat beaver buffet."
It was a coincidence that I happened to read this article yesterday, since
I've met the culprits. Yes, I saw some members of the pack
last month while walking around the lake.
Say hello to the culprits:
While these beavers are busy gnawing at cherry
trees and building their dams, I'm busy selling real estate in Northern
Virginia. My first sale of the year closed yesterday and I've got another one
closing next week.
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 December 2009. All information was obtained through MRIS.
Overall, there were 69 Northern Virginia home sales topping $1 million during the month of December 2009, quite a bit up from the 48 in November.
Currently, there are 627 homes on the market in Northern Virginia with list prices topping $1 million down from 708 that were on the market last month.
DECEMBER'S MOST EXPENSIVE SALES
Single Family Detached Homes:
11215 Stuart Mill Road, Oakton, VA 22124 -- Sold on December 9th for $3,430,000 This large (15,300 square foot home) sold at a bankruptcy auction. Situated on 3.11 acres in Oakton, this house has 5 bedrooms, 5 full and 4 half bathrooms and a large circular driveway. Oh, and 10 fireplaces.
9603 Georgetown Pike, Great Falls, VA 22066 --Sold on December 8th for $2,650,000 Selling for over $300K under the asking price, this Great Falls h built in 2008 is on 1.72 acres with 6 bedrooms, 6 full baths and 2 kitchens.
1106 Ingleside Avenue, McLean, VA 22101 -- Sold on December 18th for $2,300,000 This custom built home in McLean sold for $150K under asking price and is on 2/3 of an acre. It has a home theater, private patio, and a beautifully landscaped lot.
11319 Long Manor Lane, Fairfax Station, VA 22039 -- Sold on December 30th for $2,200,000 Located on over 5 acres, this large home was built in 2008 and has 5 bedrooms and 6 full bathrooms. Just made the list, by settling on December 30th.
7210 Farm Meadow Court, McLean, VA 22101 -- Sold on December 15th for $2,200,000 Popular Evans Farm location, this home inside the gated community was featured in Home and Design Magazine. All 4 levels of this home are accessed by elevator, and it has a 5 car garage. Built in 2005, and despite all this, it still sold for a quarter mil under asking price.
319 S. Union Street, Alexandria, VA 22314 -- Sold on December 7th for $1,415,000. December's most expensive townhouse sale was in the heart of Old Town Alexandria. Built in 1985, this home has 3 bedrooms and 2 full and 2 half baths on 4 levels. It also has garage parking - a premium in Old Town.
7035 Little Leaf Linden Lane, McLean VA 22101 -- Sold on December 16th for $1,075,000. This brand new townhouse in the heart of McLean has 3 levels with over 3,400 square feet of space, 9 foot ceiling on 2 levels, a gourmet kitchen ,, and 2 car garage.
1528 Hampton Hill Circle, McLean, VA 22101 -- Sold on December 23rd for $927,500. Another McLean townhouse, this one built in 1988 with a 2 car garage in the center of town. It's an end unit brick townhouse with 3 bedrooms. The master bath was renovated in 2009. The gourmet kitchen has upraded appliances, granite counters, and an island with glass shelving.
1250 S. Washington Street #705, Alexandria, VA 22314 -- Sold on December 29th for $1,150,000. This 3 bedroom, 3.5 bathroom condo at the Porto Vecchio has water views of the Potomac River from every room and a balcony facing the water. With over 2,123 square feet of living space and right by Old Town, it's no wonder that this was the priciest condo sale of the month.
1600 Clarendon Blvd. #W304, Arlington, VA 22209-- Sold on December 31st for $1,100,000. The Wooster and Mercer Lofts is a great building in the heart of North Arlington. This 2 bedroom and loft with 18 foot ceilings has great amenities throughout, but still sold for $150K below the already reduced price.
1800 Old Meadow Road #1702, McLean, VA 22102 -- Sold on December 8th for $975,000. Located at the Regency Club of McLean, this 2 level penthouse was totally renovated and has almost 3000 square feet of space with great views and 2 garage parking spaces.
Contact Brian Block, Managing Broker, REALTOR/Attorney, RE/MAX Allegiance:
Licensed in Virginia & WashingtonD.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.
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If you plan to purchase or sell a home in the Northern Virginia or D.C. area,
Northern Virginia 2009 Sales Numbers and Market Trends for 2010
HAPPY NEW YEAR!
Before looking ahead, it's important to take a look back at real estate sales for 2009. At the start of 2009, inventory of homes on the market was quite a bit down from 2008, prices had come down somewhat, everyone was talking about foreclosures, and the economy was at a standstill. Nobody really knew what to expect in 2009, especially with a new federal administration about to get started. The home sales news for 2009 in Northern Virginia was pretty good! Home sales were up in almost all jurisdictions and inventory levels decreased dramatically throughout the year.
Whether you are planning to sell your home in 2010 are are interested in purchasing a home this year (I know it's on some of your New Year's resolutions lists), it's necessary to understand some numbers -- the number of sales and the amount of inventory available.
How many homes sold in Northern Virginia in 2009?
% Change from 2008 ALEXANDRIA CITY 1,972 Homes Sold in 2009 +10.5% ARLINGTON COUNTY 2,620 Homes Sold in 2009 +12.9% FAIRFAX COUNTY 15,141 Homes Sold in 2009 +10.5% FALLS CHURCH CITY 166 Homes Sold in 2009 +27.7% LOUDOUN COUNTY 5,251 Homes Sold in 2009 -1.3% PRINCE WILLIAM COUNTY 8,522 Homes Sold in 2009 -3.9%
In almost all markets, especially the closer in jurisdictions, volume of sales were up over 10%. Prince William County sales numbers dropped slightly from the record-setting year in 2008 but were still at high levels. Overall there were an additional 1,543 sales in Northern Virginia in 2010 as compared to 2009 or a total increase in volume of 4.8%
How many Northern Virginia homes will sell in 2010? Pull out your crystal balls. There's a ton of variables this year and the experts and prognosticators vary widely on their predictions of a real estate recovery, the economy, how much foreclosures and short sales will continue to impact our market, the impact of the homebuyer tax credit, etc.
INVENTORY ALERT!!
As of the start of 2010, here are the inventories of resale homes listed for sale on the Multiple Listing Service:
% Change from 1/1/09 ALEXANDRIA CITY 394 Homes Available -26.4% ARLINGTON COUNTY 527 Homes Available - 21.1% FAIRFAX COUNTY 2,101 Homes Available -53.0% FALLS CHURCH CITY 29 Homes Available -43.1% LOUDOUN COUNTY 1,061 Homes Available -41.5% PRINCE WILLIAM COUNTY 994 Homes Available -61.5%
Overall, inventory numbers are way way down from what they were one year ago today. This could be very good news if you are planning to sell your home this year. If 2010 home sales continue at the 2009 pace, some jurisdictions currently have under 2 months of inventory supply! To learn more about the Northern Virginia inventory issue read The Story is Inventory (or lack thereof).
IMPORTANT MESSAGE TO NORTHERN VIRGINIA BUYERS AND SELLERS:
You can't control the market. You can't control the prices or the number of sales.
The market is changing.
2010 IS THE TIME to get expert advice, a skilled negotiator, and a savvy real estate broker who knows how to navigate this market to help you with your real estate goals.
Thank you for reading my blog post. If you like what you’ve read, then please:
Follow, Connect, Watch, Subscribe
If you plan to purchase or sell a home in the Northern Virginia or D.C. area,
Chances are that today you are going NOWHERE! There's 20
inches of snow right now and it's still coming down steadily. 
Sledding Hills by Location
Email Me
As homeowners, we tend to think more about the things coming into our house (i.e. electricity, gas, water, pests, etc.) rather than the things going out. However, lots of stuff leaves our homes every day in the form of waste.
There are 
Single Family Detached Homes:
HAPPY NEW YEAR!
