Arlington, VA Real Estate News

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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By Katie Wethman, CPA, MBA, Realtor - Northern Virginia & DC Real Estate
(Keller Williams)
I'm often asked about the Arlington condo market, with all the development going on and this being a slower market--when will it "bottom out"?This is a rolling 3 month average sales price for Arlington condos. For example, the April 2007 data point represents the average sales price (excluding any seller subsidy, but let's save that for another post) for the period February 1 - April 30.Now we can clearly see the trend since mid 2006. But wait a minute...hasn't the press been reporting that condo sales have been dropping like a stone since the peak in June 2005? What's that peak in December 2006? Oh, and for reference, the "peak" condo price in June 2005 was $387,687 (yes, that's about $20,000 less than today's price!)Despite that uptick late last year, the average price has dropped abo...
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By Ellen Crawford, Alpharetta Real Estate Agents & Alpharetta REALTOR
(Maximum One Executive REALTORS®)
First of all you cannot find a better location to live in hte Washington DC area than in Arlington Virginia!  Arlington Virginia is located just accross the Potomac River from Washington DC.  Looking for homes for sale in Arlington Virginia?  We've created this Arlington real estate page to assist you in your search.  Please fee free to contact us if you need to make arragements to see any of these homes for sale.  Arlington homes for sale, Arlington Condos, Arlington Town Homes for Sale.Arlington Virginia Single Family Homes for Sale Arlington Virginia Condos and Town Homes for Sale Arlington Homes for Sale 400-500K Arlington Homes for Sale 500-600K Arlington Homes for Sale 600-700K Arlington Homes for Sale 700-800K Arlington Homes for Sale 800-900K Arlington Homes for Sale 900-1 Milli...
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By FRANK LL0SA Esq.- Northern Virginia Broker .:. FranklyRealty.com
(Northern Virginia Homes - FRANKLY REAL ESTATE Inc)
So I wouldn’t be able to get away with this blog unless you had read all of my other blogs that have scared off some potential buyers from buying. So if you want, I’ll wait here until you read the others and come back…(blog)  …Ok. So here is a tidbit that a Realtor might tell you eventually, but you won’t believe them. You will try to buck the trend and prove them wrong.  Your dream home is just 10-15% HIGHER than your dream price. Lets run the numbers. This happens more often with 1st time home buyers. In the DC area this can be a $500,000 home. What happens is the prospective buyers save up and they are ready to buy a home, and they feel in their gut that their max price is, lets say $550,000. There really is never any pure logic to where the number came from, it just tends to “feel r...
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By FRANK LL0SA Esq.- Northern Virginia Broker .:. FranklyRealty.com
(Northern Virginia Homes - FRANKLY REAL ESTATE Inc)
I know some Realtors think it is their job to make their client feel all warm and fuzzy by making the buyer think that they got a "Good Deal". Kind of like how almost everyone who buys a car walks out thinking that they got a good deal! I don't believe in this.  I am not hired to be a comforter. I'm hired to get the most suitable property at the best price possible, and to do so aggressively, if that is what the client requests.While the client might have landed a "better deal" than other active or sold listings, it is only a "good deal" years later when they sell it and the cash is in their bank account. Even those appraisals that are done while you are under contract, they can come in $10k or $20k higher, that means nothing to me. Appraisers sometimes like to make their loan officers,...
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By Cindy Jones, Pentagon, Fort Belvoir & Quantico Real Estate News
(Integrity Real Estate Group)
The townhouses and apartments that now comprise Fairlington were originally constructed between 1942 and 1945.  Fairlington itself was constructed as a garden apartment complex to house defense workers and their families during World War II. The homes were later sold to a private developer and leased as rental property. In the early 1970's, the property was converted to condos made up of seven different communities. In 1998 the areas of North and South Fairlington were added to the Virginia Landmarks Register and in 1999 they were added to the Federal registry of National Historic Places. With the rolling hills, tree lined streets, variety of housing and close location to DC and the Pentagon has made Fairlington a popular place for both first time home buyers and long time residents. Th...
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By Kathleen LoGiodice Fong, Arlington expert- DC METRO area
(Keller Wiliams -Citywide)
As an agent I often find clients look to us to set the tone for how to respond during negotiatons. From the first encounter with a client, we are  free to make a choice whether or not this is someone we want to be linked to going forward. The desperation to have a warm body to work with can often brinng addded stress to our lives  especially as we continue through the process of listing  for a seller or representing a buyer . This very important relationship should be carefully considered.  In our work we easily become intertwined with our clients needs and values. Agents often seem reluctant to express  a moral compass about how to behave in a contractual negotiation. I'm not talking church morality- but contract morality..explaining that a home inspection does not mean a buyer has the...
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By Jay Seville, Northern Virginia & SE NC Beaches
((owner) JustNewListings.com Realty, Inc.)
A bomb of sorts just hit the orange line  Arlington VA condo market.  It's called 1800 WILSON condominium.  Many owners just lost $25,000+ instantly....The good news it's somewhat temporary and only affects knowledgeable buyers so that leaves a  LOT of buyers left for you to sell your condo at the price you had been thinking.  For those buyers "in the know", they will not pay the same for your orange line condo for awhile.  Why?  Because 1800 WILSON condominium just delivered with 25 more units to sell.  Probably many of those are from freaked out investors who backed out at delivery. They are listed at $359,900 for a one bedroom on the orange line in the urban village of Clarendon in Alington VA.  For that you get over 700 square feet with 42 inch maple cabinets, granite countertops in...
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By Kathleen LoGiodice Fong, Arlington expert- DC METRO area
(Keller Wiliams -Citywide)
I've been staging homes since I first began in real estate 15 years ago. With a background in fine arts that took me from stage to camera- it was clear to me that most people can't visualize when purchasing items they can't see. For example- selling homes from blue prints takes exceptional imagination on the part of buyers. This is why most new homes communites have models or prototypes that can be visited by prospective buyers. Our listings go on the market as close to model homes as is possible. Our time from list to sell is generally quicker than surrounding homes and we know it's because when a buyer visits our listings-they can see themselves living there. We remove as many obstacles and objections as possible BEFORE we are in the multilist system- because we know that there are vi...
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By FRANK LL0SA Esq.- Northern Virginia Broker .:. FranklyRealty.com
(Northern Virginia Homes - FRANKLY REAL ESTATE Inc)
Summary: FranklyRealty.com discusses Arlington Condos switching back to rental units!Update 2-13-08 The Phoenix Condo in Arlington Reviewed The Joule condos, formerly owned by Ed Peete (Arlington Virginia) recently announced a transformation from new condos (delivery Fall 07) ownership to apartment rentals. Canceling hundreds of contracts in the process.A dozen local condo developments have taken this route and I predict that Zoso condos (also from Ed Peete) in Arlington Virginia will be next.How can I make this prediction? Lets look at the obvious facts:Ed Peete just did it with the Joule condos in Arlington.Only 60% have been sold at Zoso. That is nothing. The bank will require certain milestones be met and I bet that most of those sales were in the first 6 months, with maybe a sale o...
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By FRANK LL0SA Esq.- Northern Virginia Broker .:. FranklyRealty.com
(Northern Virginia Homes - FRANKLY REAL ESTATE Inc)
WHY in the WORLD WOULD A BUYER SIGN THIS?How could signing ALL YOUR RIGHTS AWAY ever help you, the buyer? Where is the "What's in it for me?" in that proposition?First of all, what is an "Exclusive Buyer Agency Agreement"?This is a contract that a buyer is oftentimes asked to sign by a buyer agent Realtor. In part it commits the buyer to use this one agent exclusively for several months.But, don't you still want to be able to:Use another Realtor if you don't like this one?Buy a FSBO and have no commission be paid!Walk into a New Construction and sign papers, who needs a Realtor for that? I got them down $50k!Have 2 or 3 eager Realtors compete for your business. Each one working their tail off to find you that hidden gem. Doesn't cost you anything, so why not? (just like the Double Agen...
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By FRANK LL0SA Esq.- Northern Virginia Broker .:. FranklyRealty.com
(Northern Virginia Homes - FRANKLY REAL ESTATE Inc)
Somebody must be reading this (actually 60 people a day) since this GREAT question came in from a customer on my regular blog. I would love to get Broker feedback on this one.Q. My listing agent is taking commission plus a $395 administrative fee. What is the administrative fee all about?Great question! Why didn't I think of that?First of all I don't know what you mean by "taking." If you are telling me that you signed a listing agreement for a certain percentage and the $395 was NOT mentioned in there, and suddenly you are expected to pay it at the closing, I think your exact words should be "over my dead body."Shameless plug: FranklyRealty.com has never charged an Administrative fee. I just never understood what it was. It is a junk fee, but allowed if you agree to it.What is an admi...
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