January 29th, 2008 Categories: Buying, Financing, Keller Williams
Since i’ve been on the theme of mortgage rates and financing of late, I thought I would add one more post about the issue.
Mortgage rates are at their lowest since 2004.
If you take a look at all of the information available out there today on historical mortages rates, whether they’re 30 yr, 15 yr, ARM, etc, they’re all low! And it’s rumored with another Fed meeting scheduled for tomorrow, they could go even lower. I would just like to make very clear a few points about today’s market:
-Low mortage rates
-An abundance of houses on the market for sale
-Steep decline in sales price
Now what does this mean for the buyers in Northern Virginia?? BUY. And buy now. Let’s go shopping for your new home today!
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January 28th, 2008 Categories: Buying, Financing, Keller Williams
The proposed Stimulus package by President Bush will take affect sometime before June, say reports. Aside from the obvious advantage of $600 for singles (earning less than $75K) and $1,200 for married couples (earning less than $150K), there’s an additional benefit for the housing market.
The stimulus package will help those markets - like Northern Virginia, where home prices are higher. It will aim to make getting a mortgage easier, refinancing easier, and prevent foreclosures. The package will raise FHA and VA loan caps to $725K, and would be permanent. Additionally, for those requiring a “jumbo” loan, the cap will be higher (currently $417K).
All in all, hopefully this will start easing people’s concerns and stress about getting mortgages for new homes. With the abundance of supply around, and sales prices dropping, now is definitely the time to consider buying your new and/or next home.
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January 24th, 2008 Categories: Buying, Financing, Keller Williams
It seems everytime we look up an article on CNN, WashingtonPost, etc. there’s this box with the daily mortgage rates from Bankrate.com. What do the rates show? Why do they appear on these websites?
Bankrate.com is one of the leading web resources for financial information. They survey over 4,800 financial institutions in the 50 U.S. States to find the quotes they display on charts, like the one shown above (daily quote for today, January 24th). It shows you the rate change since last week - we see above the drastic drop following the Fed rate cut. While the image above shows current mortgage rate estimates, Bankrate also provides estimates for credit cards, new and used automobile loans, money market accounts, certificates of deposit, checking and ATM fees, home equity loans and online banking fees.
*Note: In the bottom right corner of the image above, it says “rates may include points.” For those of you who don’t know what points are, here’s a brief, high-level explanation. Each “point” is 1% of the LOAN amount. By paying points, you pay a lump sum of the interest amount upfront to essentially “buydown” your interest rate for the life of your mortgage.
Bankrate has a lot of other useful information during this time of economic change. Please call me if you have any questions or would like to discuss anything!
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January 16th, 2008 Categories: Arlington, Buying, Keller Williams, Properties
This Sunday we’ll be holding an Open House:
When: Sunday, January 20th
Where: The Residences at Station Square
1205 N. Garfield St Unit 708 in Clarendon
See here for more pictures and information on this 2 bed, 2 bath downtown Arlington Condo!
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January 11th, 2008 Categories: Arlington, Buying, Keller Williams
Yesterday, January 10th, when Federal Reserve Chairman Ben Bernanke was asked if we’re headed into a recession, Bernanke said that we’re approaching a time of slow growth, but not a recession. In an attempt to help the economy and mitigate any risk of a recession, there have been discussions of another possible interest rate cut when the Federal Reserve meets again at the end of this month. Experts are predicting another half percentage point decrease in rates, bringing rates to 3.75%. CNN’s article details the future of possible furhter rate cuts and provides more information.
What do you think? Do you think we’re headed or already in a recession??
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January 9th, 2008 Categories: Arlington, Buying, Keller Williams, Properties
View from Balcony
Living/Dining Room
Almost new 2 bed, 2 bath condo at the Residences at Station Square, one block to Clarendon Metro, in the heart of Clarendon, with excellent shopping, dining & easy living nearby. Gold’s Gym is in the building, Whole Foods is 2 blocks away, Cheesecake factory, Crate & Barrel, Barnes & Noble, the list goes on!! Beautiful outdoor pool & community room. This is a 7th floor corner unit w/lots of windows, a balcony w/a broad view of trees and sky. Jetted tub in Master Bath. Gas fireplace, corian counters. TWO garage spaces & oversized storage!
Number of Rooms: 2
Number of Baths: 2
1205 Garfield Street N #708
Square Footage: 998
Dogs Allowed
Cats Allowed
Listed at $599,900
Contact me for more information!
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January 8th, 2008 Categories: Arlington, Buying, Keller Williams
The Homestead Property Tax Exemption (submitted by Arlington’s own Senator Whipple), will make homeowners eligible for up to a 20% rebate on their property tax assessments each year from local governments. The bill must be approved by Congress before it can go to Virginia residents for vote (in the November 4th election). The major point of this bill is a tax relief to homeowners, and a larger burden on commercial property owners. See the complete article and more detail on the Washington Post.
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January 7th, 2008 Categories: Arlington, Buying, Keller Williams
Another great weekend for this Keller Williams Arlington, VA Realtor! My first time home buyers fell in love with a condo at Cameron Station in Alexandria VA. This was my first time in this development and I loved it! The unit itself was gorgeous, lots of natural light and spacious living. But the big winner is the community as a whole! The property is located directly across from beautiful Ben Brenman Park (a lake with a fountain, ball fields, bike path, etc), and several restaurants, a coffeehouse, a spa, cleaner, mini grocery store, etc. Your unit comes with parking, a free shuttle to the metro (Van Dorn or King Street), and a gym! It’s a little town itself within the city of Alexandria! It’s a gorgeous property!
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January 4th, 2008 Categories: Buying, Keller Williams
Before we take a look at specific areas of Virginia, let’s take a look at the VA market overall. NVAR released market info in December that highlights some important real estate factors for the area, they are:
–The VA foreclosure rate is 2/3rds LOWER than the national average
–Average Days on the Market:
November 2007: 99 versus November 2006: 85
–In the Washington, D.C. Metro Area/Northern Virginia, homes have appreciated in value on average of 7% per year
–6% average gap between buyer’s and seller’s expectations
Now, what does this mean for you?? A 6% gap means buyers are paying, on average, around 94% of a listing price. Translation: With the market slowing, and listing prices FALLING, you’ll be paying EVEN LESS!!
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December 21st, 2007 Categories: Arlington, Buying, Keller Williams
Moody’s is predicting an 18.4% decline in home prices in the Washington, D.C. metro area for 2008. D.C./Northern VA isn’t even the worst hit city by this decline!! They’re calling this the worst housing slump since the Great Depression in 1929. Not only will sales prices potentially decline by double digit figures, the excess inventory in vacant homes will add to the steep drop in prices. But Keller Williams wants you to know there’s good news! If you’re in the market to BUY a home, there’s no better time than the present!! While good rates and mortgages will be tougher to come by, I will be happy to help you work through the inventory in Northern VA to find your perfect home. Feel free to contact Debbie Mullan (Nations Home Funding - 703-481-2291 ext 117) for mortgage questions and help. She was my savior when that USAA fiasco occurred in November!
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December 20th, 2007 Categories: Arlington, Buying, Keller Williams
Here’s another great resource when you’re beginning to think about buying and/or selling in Arlington, Reston, McLean, Great Falls, or Falls Church, VA. The Washington Post website has a “Property Values and Recent Sales” search enginge that allows you to see recent selling prices, taxes, and locations of properties by county. As your Keller Williams Agent, I can do a Comprehensive Market Analysis (CMA) for you via the MLS, but the WashingtonPost.com gives you a great starting point! I would love to help in your journey to find your new home, please feel free to call or email me with any questions!
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December 2nd, 2007 Categories: Buying, Keller Williams, Property Values
There is so much buzz about foreclosures in the real estate market today, it deserves a short explanation of what exactly is a foreclosure.
A foreclosure is a property that is sold or repossessed by a bank or other creditor when the owner fails to comply with a financial agreement, i.e. fails to make mortgage payments to the lender or borrower.
The most common type of foreclosure is called a “Foreclosure by Judicial Sale,” which generally involved a short trial to insure that the mortgage is satisfied, the lien holders are paid, and any remaining proceeds from the sale are given to the mortgagor. This type of foreclosure is used in every state and is usually the legal requirement.
A foreclosure auction is usually held by the repossessing bank looking to gain funds to satisfy the remaining balance on the mortgage. The real estate trend that foreclosures can be lucrative stems from the fact that the bank may not be motivated to sell at the highest possible price, just high enough to pay themselves.
There is so much talk about foreclosures and legal steps to buying one, I would recommend further research into the process before going on a hunt for a foreclosure! Feel free to email or call me with any questions!
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November 21st, 2007 Categories: Buying, Keller Williams, Reston
In today’s ”buyers” real estate market it’s a wonder why I had to pull out all the stops to get my buyers to the closing table.
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October 22nd, 2007 Categories: Buying, Keller Williams, Reston
With another first time buyer….
After a weekend of counter offer leading to counter offer it is final today…. we ratified…I have a soon-to-be satisfied first time buyer who just tonight came to my office to finalize the signatures on a great condo here in Reston, Virginia. We are expected to settle in less than 30 days, just in time for Thanksgiving in their new home.
I’m particularly proud of this customer since, like my other first time buyer this past weekend, this customer has taken the time to understand the market and review all their options (without beating down the door of every single available unit) they paid close attention to what they wanted and looked for it. They focused on their ”Location-Location-Location” and then we scoured the market within those parameters. They were realistic on the offer and knew what to expect for a counter offer and are now soon to be proud new homeowners.
It’s weeks like this that I love my job! Keep those referrals and first time buyers headed my way!!!!!!!!
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August 5th, 2007 Categories: Arlington, Buying, Keller Williams
While I have enjoyed a week off from blogging and spent the week before that doing fluffy posts about my local landscaper and trips into Arlington, Virginia for dinner, now I think its time we get back on track and start talking about the game we love… Real Estate!
In doing just that I have set up a forum on the Meetup.com platform. I can thank my friends at Sellsius for the tip. Per their suggestion I went to www.meetup.com and I established my group, described my initial vision and linked it to my home page here at ActiveRain (check the name badge to your right). Tuesday night is our first face to face meeting and I can’t wait. I have had several people join, I have set up the location, I have advertised within my own office (somewhat- Im trying to keep it such that only new people are meeting) and the date is finally here. After all was said and one, 3 days before my event I received an email from the ‘Meet up’ team with tips on how the first meeting should go and in it also included gentle reminders on how I could manage the event.
My hope is that we get several different types of backgrounds all coming together to share their story and ideas so that we can all ensure our customers are provided the latest professional services we all strive to offer. Stay tuned for more on how the ’Meetup’ went. I will be sure to post it here. ActiveRain will undoubtedly be a topic of discussion.
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August 5th, 2007 Categories: Arlington, Buying, Keller Williams
I am really amazed at the high and lows real estate business has offered me the past few months. Just last week I was crying the blues to my favorite colleague that this market is really hard to manage and how one day I have a buyer and the next day I may not. It’s quite an interesting buyers market. Ironically however I did something today that one might think would usually happen only in a sellers market…….
This past Saturday I had a very interesting scenario occur. I was out shopping for houses with my buyer. We had a tour of 4 homes and a potential rental unit that they may want since they need to get out of their house soon and wont rush into buying something they don’t like. (My kind of customer- they know what they want and will accommodate their situation rather than force a purchase that won’t make them happy- Keep everyone whole!) At any rate we went shopping for quite some time and turned over a lot of houses-While each house was quite impressive in its own right, throughout the day I had been starting to sense that none of these houses were even close to what these buyers had in mind. I was starting to wonder what we were doing. Rather than turn on a sales pitch on one of these properties I decided to quiz my customer on what’s going on in their head. After a few minutes I find out there was a specific house they had in mind and sadly there was no for sale sign in the front yard. They are pretty sure they’d want that house but again, no for sale sign. They were looking elsewhere out of necessity but clearly they had their mind on this one specific house. Heres actually where I turned on the sales pitch….
We jumped in the car and went right over the their dream place. I went right up to the front door and knocked. The buyers answered I explained the situation. We were all actually invited in for a tour of the place. It was quite impressive. In addition the owner is actually considering selling it in the next 6-12 months. My buyers while closing on their current residence in two weeks could actually rent a place for a year and start negotiations on this property before the current owners even think about listing it (with me 
)…
Its not often you get lucky like this and while the deal isn’t settled it’s this kind of excitement that keeps me coming back for more. My buyers could end up in their desired home (because of course as we walked through they fell in love with the place) the current owners could sell it without having to list it and I have dual agency agreement on both side and could get a larger slice of the pie while providing both clients top notch service and a potential discount (but only if they ask 
)
Hopefully this week coming will have as much energy!
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July 15th, 2007 Categories: Buying, Keller Williams
I recently converted my home alarm systems from a popluar name brand to a new, not so known name brand system but I am getting great service and the hardware is totally meeting my expectations. My new system has a better touch pad and monitoring service. In agreeing to do the conversion from popular system to not so known system I got a new ‘free’ system panel, new motion detectors, more detectors for all windows and doors and better monitoring from ‘ground control’. I even have a cell phone back up plan.
I thought all this made my vendor worth mentioning. My new provider, APX Alarm Systems, is providing great service with excellent hardware. Check ‘em out- Dont worry about telling them I sent you. I just like to mention it when I get good service. Hopefully you can have the same experience.
To elaborate on the title of this entry though….. I’m thinking of installing this system in my investment properties but I cant help but wonder if it would matter? Is it worth going through the install and increasing my monthly debt the amount of the monitoring in the name if increasing the value or rentability of a rental property? Realizing of course it always good to have the safety aspects of an alarm system do people even care about this when searching for a place to live. I have never had a request for an alarm system…Have you?
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July 15th, 2007 Categories: Arlington, Buying, Keller Williams
I have joined the tech committee for our Keller Williams Arlington Virginia office and I have started to work with a great group of people whose focus for the office will be technology. We will ensure folks have access to the latest and greatest and while we have no plans to be the instructions people or support committee we do expect to enlighten, introduce and point in the right direction those agents using technology in their day to day work.
During our last meeting it was brought up by Jennifer Kluassen that she would not be able to function with her clients effectively without wireless MRIS access through her new IPOD telephone. It was then that I realized that since I have been granted access, I too take full advantage of the service and often times use it to look up the “stats” on a property that has a for sale sign out front… just as I am driving by.
Talk about an informative way to understanding your market without having to look it up later - AND - It proves to be quite the confidence builder for my clients. I couldn’t help but share so that in case you weren’t aware of this feature of MRIS you might want to look into it- It’s easy to access, informative condensed version of MRIS (normally accessed from your home/office computer) and it’s effective in searching out information on your previewing days or tours with your customers. The images and content are adjusted nicely to fit on my TREO and I’m sure most of todays PDA’s.
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Are you using it? Do you find the same value as Jennifer and I do?
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July 7th, 2007 Categories: Arlington, Buying, Keller Williams
So we are finally meeting the blogger champions of North America and I know I for one can hardly contain myself. I’m so thrilled over how blogging has worked to help generate leads for my business I cant wait to share my story with the Sellsius.com, Blog Tour USA guys!
Jennifer and I continue our descent, we get one last photo right up on the bus- While I didnt pay the $300 to get my face actually laminated to the bus- perhaps this full body shot is worth more in the end- (although I confess maybe a few more laps around the track would help my image I’m sure!)- Ardell youre bottom right…
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July 7th, 2007 Categories: Arlington, Buying, Keller Williams
I met with http://blog.sellsiusrealestate.com/ on their www.blogtourusa.com on the 4th the July 2007. Thanks to Jennifer Klaussen for bringing us together. Hopefully you will find the video they captured of our conversation helpful in understanding how I see blogging to be so beneficial to any marketeers web presence. In case you miss it in my montage perhaps you will have a need for “Keller Williams Arlington Virginia” or “Keller Williams Reston, VA” In the near future- check out www.sellingnva.com when you can! Thanks http://blogtourusa.com and Jennifer for the time this past Wednesday. I feel the energy!!
http://www.wellcomemat.com/real-estate-video/p/1590
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July 5th, 2007 Categories: Buying, Keller Williams
We are all here for one reason- I think - I would assume it’s to share ideas about real estate and make sure we get some publicity via the web along the way. I stumbled across an interesting article that starts to touch on a very interesting subject….The jury is still out for me but what do you think?
Do we forgo our traditional methods of creating mailing lists and routinely incurring costs throughout the year to send post cards and mailers that are often times simply filed in the trash can by our would be customers….OR…..do we, now that we’ve arrived in the millenium some 7 years ago, focus our energy and finances on our Blogs and work towards a stronger internet presence? Check this out and tell me what you think…..
“If you have been farming an area with traditional methods you have probably been trying to service an area of two to three hundred homes. You probably send direct mail pieces several times a year, offering a free home evaluation or other marketing offer. Maybe you even go door to door a few times of year. Most of the people are either not at home or do not answer the door and you leave your card or notepad on their front steps.
Welcome to the new millennium. Farming can now be done using technology that will enable you to reach thousands of homes more easily and efficiently than you could reach just a few hundred previously. One of the very best ways to do this is by starting a farming blog.
A blog is a website that lets you write, or post, as often as you wish, and deliver your message to anyone who has either subscribed to the blog’s feed or who visits the website. With the click of your mouse your message can be in front of the homeowners in your farm at a time that is convenient for them to read what you have written in your post.
It is relatively simple to start a blog. They are available for free from some places or for a fee of less than five dollars each month from others. The blogs that have a monthly or annual fee will generally offer more choices and features than the free blog services. It is up to you and you should experiment with the ones you are considering.
You will want to give your blog a name that has meaning to the people who live in your farm area. Do not use your name unless everyone in the area knows you. It is better to use a name that is relevant to the neighborhood. My farming blog is called Plum Canyon Neighbors. When people receive an email message with this subject line they know that it is important information from me about happenings in their area.
Give blogging a chance as a way to market to your farm. You will find that it is so easy and effective you will be glad that you started one.”
Article Source: http://EzineArticles.com/?expert=Connie_Ragen_Green
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July 5th, 2007 Categories: Buying, Keller Williams
So my property search engines on both my sites was either down or not functioning properly…several blogs written about this by other Keller Williams Rainers so I had to share my news! The Support@kw team (specifically Orlando and Andrew) have finally fixed my issue…You can actually search for properties using both my KW website and my own business website
In addition, I had a great conversation with www.ActiveRain.com/mmapes member today regarding Google Adwords and the future of internet marketing….Right up my alley for getting the ball rolling and inspiring me to conitue to work hard for my customers…
FEEL THE ENERGY!!!!!
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June 29th, 2007 Categories: Buying, Keller Williams
She’s here- Its finally happened. Of course we knew this!
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June 8th, 2007 Categories: Buying, Great Falls, Keller Williams
Keller Williams Realty is made up of top fulltime sales associates and supporting staff that are carefully selected to be part of our firm. Keller Williams agents convey the following attributes.
Knowledgeable: In addition to required education for licensing, our sales associates attend numerous courses through Keller Williams University to keep them up-to-date on current real estate trends and information. Our training is the most comprehensive in the industry.
Professional Standards: Our standards for performance are for the benefit of our clients and they are the highest standards in the industry. Our policy manual guarantees our professional standards.
Financing Power: Our sales associates and staff maintain a day-to-day contact with preferred lending institutions in their business area. This helps our buyers find the best possible financing.
Prequalified Buyers: At Keller Williams Realty, we work to protect buyers and sellers by obtaining pre-qualifying information on all potential buyers. This service helps buyers know if they might be qualified to purchase a new home and it helps sellers know if their purchaser may be qualified to purchase a home.
Inventory Knowledge: In order to be successful in working with buyers, each Keller Williams Realty office maintains a large inventory of brokerage and new homes for sale. Our associates are always aware of all the available properties within their market.
Total Commitment: Our commitment to you is this- We will always strive to provide professional real estate services to the very best of our ability.
Consider the possibilities in Keller Williams Realty! Why not you? Why not now!
Keller Williams Realty is the most innovative company in real estate today. Find out how you can be a part of it. The entrepreneurs we empower today will shape the real estate industry tomorrow.
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June 8th, 2007 Categories: Buying, Keller Williams
CMA is real estate shorthand for “Comparative Market Analysis.” A CMA is a report prepared by a real estate agent providing data comparing your property to similar properties in the marketplace.
The first thing an agent will need to do to provide you with, is a CMA to inspect your property. Generally, this inspection won’t be overly detailed (she or he is not going to crawl under the house to examine the foundation), nor does the house need to be totally cleaned up and ready for an open house. It should be in such a condition that the agent will be able to make an accurate assessment of its condition and worth. If you plan to make changes before selling, inform the agent at this time.
The next step is for the agent to obtain data on comparable properties. This data is usually available through MLS (Multiple Listing Service), but a qualified agent will also know of properties that are on the market or have sold without being part of the MLS. This will give the agent an idea how much your property is worth in the current market. Please note that the CMA is not an appraisal. An appraisal must be performed by a licensed appraiser.
The CMA process takes place before your home is listed for sale. This is a good assessment of what your house could potentially sell for.
CMAs are not only for prospective sellers. Buyers should consider requesting a CMA for properties they are seriously looking at to determine whether the asking price is a true reflection of the current market. Owners who are upgrading or remodeling can benefit from a CMA when it’s used to see if the intended changes will “over-improve” their property compared to others in the neighborhood.
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The BEST Time to Buy Northern Virginia Real Estate … September 29th, 2008
I was reading the actual bill that describes our ‘$700B bail out’ and WOW is what comes to mind. This should be the cause for an amazing change from the mortgage lock-down […]
Read MoreMid Town North- Reston Town Centers Finest September 17th, 2008
Welcome to a great presentation I found on You Tube that offers terrific video footage of Reston’s, Mid Town North condominiums. The Kettler CMO and sales team that created this presentation are doing a […]
Read MoreThe Odyssey, Arlington Virginia’s not so hidden gem September 4th, 2008
Standing over 12 stories tall and located in the heart of Arlington Virginia this high tech looking, contemporary condominium building has terrific view of the DC skyline, especially from the […]
Read MoreThe Wooster and Mercer Lofts- Centered between Rosslyn and Courthouse Metro stops September 4th, 2008
Situated practically in the middle between Arlington’s Rosslyn and Courthouse metro stops the Wooster and Mercer Lofts are available for sale now. Boasting anywhere 10-18 foot high ceilins in most […]
Read MoreClarendon 1021- Great sense of Community in Arlington Virginia September 4th, 2008
Built in 2005, Clarendons 1021 holds 400+ units and has roughly 500 parking spots in an attached underground garage. Situated right next door to Station Square, in the heart of […]
Read MoreStation Square: The Heart of Arlington, Virginia September 4th, 2008
Built in 2006, this cluster of 3 condominium buildings hold 300+ units and have roughly 600 parking spots in an attached underground garage. Situated in the heart of Clarendon these […]
Read MoreReston Virginia, 20194 Home Sales are on the Rise August 29th, 2008
I was looking around at a great website www.city-data.com for information on Restons home sales and to my surpise I learned so much more about the demographics of this steadily growing […]
Read MoreRestaurant Three (3) Clarendon August 25th, 2008
Saturday night my wife and I, with a few close friends, enjoyed an amazing atmosphere and dinner at Restaurant 3 in Arlington Virginia. Situated in small corner of the block that Station Square condominiums […]
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