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Alexandria, VA Real Estate News

By Karen Kruschka, - "My Experience Isn't Expensive - It's PRICELESS"
(RE/MAX Executives)
This is the first in a series of monthly market reports for that section of Fairfax County with postal addresses named Alexandria  This real estate market encompasses six postal ZIP Codes, namely 22306, 22307, 22308, 22309, 22310, 22315.  Many REALTORS prepare a report for all six  ZIP Codes.  In my opinion, that covers too broad an area to be meaningful.  I do believe my approach will give you a much more realistic picture of the market in your neighborhood. Currently, there are 178 homes for sale in the 22310 area. For the 31 day period August 1, 2007 to August 31, 2007 the following sales statistics were reported on the Multiple Listing Service Homes Sold = 26 Average List Price =          $514,503 Average Sold Price =           494,173  Percentage of List Price = 95.26% Average Sell...
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By Karen Kruschka, - "My Experience Isn't Expensive - It's PRICELESS"
(RE/MAX Executives)
This is the first in a series of monthly market reports for that section of Fairfax County with postal addresses named Alexandria  This real estate market encompasses six postal ZIP Codes, namely 22306, 22307, 22308, 22309, 22310, 22315.  Many REALTORS prepare a report for all six ZIP Codes.  In my opinion, that covers too broad an area to be meaningful.  I do believe my approach will give you a much more realistic picture of the market in your neighborhood.Currently, there are 150 homes for sale in the 22315 area.For the 31 day period August 1, 2007 to August 31, 2007 the following sales statistics were reported on the Multiple Listing ServiceHomes Sold = 47Average List Price =          $506,178Average Sold Price =           499,647  Percentage of List Price = 97.51%Average Seller Subs...
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By Brian Block, Northern Virginia & D.C. Real Estate
(RE/MAX Allegiance, Managing Broker/Branch Vice President)
Last week I wrote that home sales are holding steady in Alexandria, Virginia.  The market has not slowed in Alexandria City as much as some other places in the Northern Virginia.   Today, I had the opportunity to attend a presentation by Christine Todd, CEO of the Northern Virginia Association of Realtors, on the state of the local economy and the housing market.  She reminded us that while the press may have you believing that the sky is falling by reporting on those problem areas (such as Herndon or areas of Prince William County) within the region, it is important to examine each locality separately. When you take a closer look, especially in close-in areas like Arlington and Alexandria City, the picture is not so bleak.  Homes that are priced right for the market are still selling i...
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By Brian Block, Northern Virginia & D.C. Real Estate
(RE/MAX Allegiance, Managing Broker/Branch Vice President)
Having lived and worked as a Realtor in Alexandria, Virginia for the last 6 years, I spend much of my time pointing out the highlights of our area and describing the amenities of Alexandria and the surrounding towns to potential homebuyers.  I’ve even (with tongue-in-cheek) proclaimed my joy at Money Magazine’s ranking of Alexandria residents as some of the skinniest in the nation (See Best Places to Live? Not on the list, but we have the skinniest people says Money Magazine)    Alexandria has some wonderful offerings including some excellent restaurants, a vibrant nightlife in Old Town Alexandria, a lively arts scene, quaint neighborhoods, waterfront properties and Potomac River parks and marinas, and an easy commute to D.C.  I enjoy orienting relocating buyers to Alexandria and gettin...
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By Karen Kruschka, - "My Experience Isn't Expensive - It's PRICELESS"
(RE/MAX Executives)
This is the first in a series of monthly market reports for that section of Fairfax County with postal addresses named Alexandria  This real estate market encompasses six postal ZIP Codes, namely 22306, 22307, 22308, 22309, 22310, 22315.  Many REALTORS prepare a report for all six ZIP Codes.  In my opinion, that covers too broad an area to be meaningful.  I do believe my approach will give you a much more realistic picture of the market in your neighborhood. Currently, there are 79 homes for sale in the 22308 area. For the 31 day period August 1, 2007 to August 31, 2007 the following sales statistics were reported on the Multiple Listing Service Homes Sold = 12 Average List Price =          $667,204 Average Sold Price =           650,750 Percentage of List Price = 97.73% Average Seller ...
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By Tamara Inzunza, Close-In Alexandria and Arlington Living
(Realty One Group Capital)
Now that you know where to go for regional statistics, you can sign up for automatic updates for sales information specific to your zipcode and your immediate area.My Market Snapshot report is tailored to the information that you provide.  As a subscriber, you will benefit from easy-to-understand and visually friendly reports on homes that are currently on the market, under contract, and recently sold in your area. I've found that this information is useful for those who:Are thinking about buying in a certain area but are not quite readyAre thinking about selling and want specific neighborhood information up until they are ready to sellAre currently renting and want to see what the market is doingAre perfectly content where they are, but just want to stay informed about real estate sale...
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By Tamara Inzunza, Close-In Alexandria and Arlington Living
(Realty One Group Capital)
The market's up, the market's down.  Sales prices are increasing, sales prices are decreasing.  If you don't know by now, real estate is LOCAL!  That means that even though real estate sales in the country as a whole are down, depending on your zip code, you may be in a sellers market.                                       In Northern Virginia, our area Association of Realtors provides market statistics on a monthly basis, and this information is based on sales indicated in the Metropolitan Regional Information System.Please click this link to view market statistics in your area. 
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By Karen Kruschka, - "My Experience Isn't Expensive - It's PRICELESS"
(RE/MAX Executives)
This is the first in a series of monthly market reports for that section of Fairfax County with postal addresses named Alexandria  This real estate market encompasses six postal ZIP Codes, namely 22306, 22307, 22308, 22309, 22310, 22315.  Many REALTORS prepare a report for all six ZIP Codes.  In my opinion, that covers too broad an area to be meaningful.  I do believe my approach will give you a much more realistic picture of the market in your neighborhood. Currently, there are 223 homes for sale in the 22309 area. For the 31 day period August 1, 2007 to August 31, 2007 the following sales statistics were reported on the Multiple Listing Service Homes Sold = 16 Average List Price =          $522,100 Average Sold Price =           507,244 Percentage of List Price = 94.78% Average Seller...
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By Karen Kruschka, - "My Experience Isn't Expensive - It's PRICELESS"
(RE/MAX Executives)
This is the first in a series of monthly market reports for that section of Fairfax County with postal addresses named Alexandria  This real estate market encompasses six postal ZIP Codes, namely 22306, 22307, 22308, 22309, 22310, 22315.  Many REALTORS prepare a report for all six ZIP Codes.  In my opinion, that covers too broad an area to be meaningful.  I do believe my approach will give you a much more realistic picture of the market in your neighborhood. Currently, there are 69 homes for sale in the 22307 area. For the 31 day period August 1, 2007 to August 31, 2007 the following sales statistics were reported on the Multiple Listing Service Homes Sold = 12 Average List Price =          $732,242 Average Sold Price =           705,875 Percentage of List Price = 94.16% Average Seller ...
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By Karen Kruschka, - "My Experience Isn't Expensive - It's PRICELESS"
(RE/MAX Executives)
This is the first in a series of monthly market reports for that section of Fairfax County with postal addresses named Alexandria  This real estate market encompasses six postal ZIP Codes, namely 22306, 22307, 22308, 22309, 22310, 22315.  Many REALTORS prepare a report for all six ZIP Codes.  In my opinion, that covers too broad an area to be meaningful.  I do believe my approach will give you a much more realistic picture of the market in your neighborhood. Currently, there are 151 homes for sale in the 22306 area. For the 31 day period August 1, 2007 to August 31, 2007 the following sales statistics were reported on the Multiple Listing Service Homes Sold = 19 Average List Price =          $548,247 Average Sold Price =           534,232  Percentage of List Price = 96.22% Average Selle...
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By Brian Block, Northern Virginia & D.C. Real Estate
(RE/MAX Allegiance, Managing Broker/Branch Vice President)
Wherever I go these days, whomever I speak with, upon finding out that I am a Realtor, says the same thing "How are you doing these days?  Slow market isn't it?  Tough real estate market, eh?" The facts are that the real estate market is always tough.  If it isn't tough for sellers (like it is now in certain areas), then it's tough for buyers.  Each type of market presents its own set of challenges for Realtors.  Listing agents love a seller's market where a home sells quickly after they place it on the MLS and put up the sign, often with multiple offers.  But this type of market is very difficult for agents who represent lots of buyers.  Losing out to higher bids from other purchasers is tough.  In the seller's market that abruptly ended 2 years ago, I had clients who bid $20-$25K over...
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By Karen Kruschka, - "My Experience Isn't Expensive - It's PRICELESS"
(RE/MAX Executives)
Many people think bourbon must be made in Kentucky just as Vidalia onions must be grown in Vidalia, GA.  Wrong, wrong, wrong !!!  The folks in Lynchburg, TN know that, but they are not the only ones who make bourbon outside the state of Kentucky, because bourbon is also made in Fredericksburg, VA. Virginia Gentleman Bourbon is produced by the A. Smith Bowman Distillery  Although the distillery is located in Fredericksburg it started producing bourbon in Northern Virginia in what is now Reston, Virginia.  Adam Smith Bowman purchased a dairy farm in that section of Fairfax County in 1927,  He went into the bourbon making business as soon as Prohibition ended.  As time passed by, Reston, an award winning planned community, began to be developed.  The Bowman family sold the balance of their...
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By Brian Block, Northern Virginia & D.C. Real Estate
(RE/MAX Allegiance, Managing Broker/Branch Vice President)
You never expect it to hit you!Saturday night around 9:30 p.m., my condo building Alexandria Knolls West in Alexandria, Virginia was struck by lightning.  The lightning struck the roof and started a fire.  The smoke went down through the elevator shafts causing much of the hallways in the building to fill with smoke.  The fire and lightning shock destroyed an major electrical panel on the 8th floor causing it to explode through the wall and causing severe damage to a unit on the 8th floor of the 18 floor building.  The residents of the building were evacuated and not let back into the building until after midnight.  Many stayed in area hotels or with friends and relatives.  Several people including 6 firefighters were brought to the hospital for smoke inhalation problems.  Thankfully, n...
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By Tamara Inzunza, Close-In Alexandria and Arlington Living
(Realty One Group Capital)
Who knows why the real estate market has been getting so much buzz overthe past few years.  If you watch and invest heavily in stocks, you knowthat any type of media report can make a stock price go up or down.Any informed consumer is aware that we are currently in a buyers market.So many people are on the fence, but while you're on the fence renting,make sure that your lease is a month-to-month lease as opposed to along-term one year lease.Why?  Because this lack of commitment with your landlord gives you theflexibility of actively looking in the housing market and being able topull the trigger and make an offer on a home without using your lease asan excuse.The cost of a month-to-month lease, usually a couple hundred dollars extraper month.  The value of casually browsing at homes, bu...
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By Brian Block, Northern Virginia & D.C. Real Estate
(RE/MAX Allegiance, Managing Broker/Branch Vice President)
In trying to keep up with the Northern Virginia real estate market, we often focus on what has sold recently, and the current inventory of homes on the market. An often overlooked factor in determining pricing of homes for sale is to examine expired listings, or the homes that have NOT sold during a particular period in a certain area.  Analyzing the homes that have not sold can be an important step in pricing your home for sale properly. Why don’t homes sell?  In Northern Virginia, as elsewhere around the state and the country, most homes that do not sell were overpriced from the start.  As a home spends more and more time languishing on the market, sellers eventually reduce the price, but oftentimes in vain, as they are lagging behind the market instead of catching the crest of the pr...
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By Brian Block, Northern Virginia & D.C. Real Estate
(RE/MAX Allegiance, Managing Broker/Branch Vice President)
A full 55% of the homes currently on the market for resale in Alexandria, Virginia are comprised of condominium units.  And there are still more being built...  Condo living is a necessity for some who cannot afford the higher priced townhouse and single family homes in Northern Virginia.  However, for many Alexandria residents, condominiums are the home of choice, with the appeal of low maintenance and easy access to public transportation, shopping and restaurants.  The most popular areas for condos in Alexandria are in Old Town Alexandria and in the West End "Condo Canyon."   Condos are scattered throughout the City of Alexandria in garden style, mid-rise, and high-rise buildings.  How much do condos in Alexandria cost?  In July 2007, there were 103 sales of condos in Alexandria at an...
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By Carol Lynne Bull
(Keller Williams)
   Here In Del Ray Renovations are or going Strong lots tend to be small and it is not out of the ordinary to find your house on an odd sized lot. Most people go up rather than out. Now, our charm here is partly derived from our wonderful residents, our dogs ( and oh how we love our dogs ) and our architecture. Additions must conform and not be out of character. A turret did make it in. You see we all so like our whimsy.  
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By Brian Block, Northern Virginia & D.C. Real Estate
(RE/MAX Allegiance, Managing Broker/Branch Vice President)
The number one secret for selling homes in Northern Virginia quickly and at the highest possible price is to price the property properly when it first goes on the market for sale.  It's long been known that the longer a home lingers on the market, the lower price it is likely to command.  WHY?If you can remember when you first bought your home, one of the first questions you probably asked about each home you previewed was "How long has it been on the market?" We tend to assume that if it has been on the market for quite some time there is either: A) something wrong with the home; or B) more negotiating room because the seller is getting anxious for a sale.As a seller, you certainly don't want potential buyers for your home thinking along those lines.  In order to sell quickly and for t...
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By Brian Block, Northern Virginia & D.C. Real Estate
(RE/MAX Allegiance, Managing Broker/Branch Vice President)
Old Town Alexandria is one of the most popular areas in Alexandria City for homebuyers.  Occupying zip code 22314, Old Town's charms include the Potomac River, the Torpedo Factory Art Galleries (inside of what was once an actual torpedo factory), and the many great restaurants, boutique shops, historic homes, and businesses which make Alexandria a local center of activity.  The Washington Post reports on "A New Look Of Prosperity in Old Town". Among other things, the article states that:    "The city is preparing to unveil a set of banners that will help give the area a more unified feel"    "More than 36 restaurants have opened outdoor seating in the past three years, adding to the area's foot traffic on warm evenings"     "Several retailers have set up shop, including Old Original Boo...
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By Cindy Jones, Pentagon, Fort Belvoir & Quantico Real Estate News
(Integrity Real Estate Group)
The July sales report for Park Fairfax is ready and though I had anticipated from last month that there would be 17 new SOLD signs instead there was a slight fall out and only 11 properties closed.  The days on the market for most properties in Park Fairfax is significantly lower than the average that we are seeing in the area.  What is interesting about Park Fairfax is that the homes in this development do not have central AC and in some cases they also do not have washer and dryers installed.  Owners do have window AC/Heating units and  current homeowners generally adapt their homes to add a stack washer and dryer in either the kitchen or closets next to the bathroom.  Obviously these little "quirks" don't keep homebuyers away and with the super location, tree lined streets and friend...
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