Single Family Homes

The BEST Time to Buy Northern Virginia Real Estate …

September 29th, 2008 Categories: Arlington, Buying, Commercial, Condo Communities, Entertainment & Lifestyle, Fairfax, Fairlington, Falls Church, Financing, Great Falls, Just for Fun, Keller Williams, Mclean, On The Town, Properties, Property Values, Real Estate News, Reston, Selling, Single Family Homes, Vienna

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 we’ve been experiencing the past few months.

If I had a crystal ball and wanted to assure my buyers of when it was a good time to buy, I would suggest that once this bill passes (there is a clause that requires implementation start within 60 days) that later this year early next will be the best time to buy on almost all fronts. Interest rates should remain low, prices should remain low and because of this bill, prices should stabilize. Stabilizing of prices and the churn of new buyers could potential be the perfect storm for equity gains to start again….

Call me today if you’d like to discuss my interpretation or yours. I’d also call your bank and see what they can do for you- this would be EXACTLY what the point of all this is to drive.

Ive attached a snippet of the actual bill that highlights some interesting change potentially headed our way.

“SEC. 109. FORECLOSURE MITIGATION EFFORTS.

…MODIFICATIONS

In the case of a residential mortgage loan, modifications made under paragraph (1) may include—(A) reduction in interest rates (B) reduction of loan principal; and(C) other similar modifications.

TENANT PROTECTIONS.—In the case of mortgages on residential rental properties, modifications made under paragraph (1) shall ensure—(A) the continuation of any existing Federal, State, and local rental subsidies and protections; and(B) that modifications take into account2 the need for operating funds to maintain decent3 and safe conditions at the property.”

Northern Virginia Real Estate Prices continue to FALL…

July 23rd, 2008 Categories: Keller Williams, Mclean, Property Values, Real Estate News, Single Family Homes, Tools and Resources

Northern Virginia’s year to date average real estate sales price is down from last year.

Last years average sales price was $537,339.00 and this years grand total is $482,197.00. Thats is a 10.26% decrease. Ive had several customers negotiate listing prices down but what happened to 3-6% being the popular percentages realtors liked to promote as an almost automatic decrease when submitting an offer.

Are we going to continue to dip or will perhaps….the pending presidential election or other factors…. help bring us back into a place where values start to increase again?

Fairlington - A MUST SEE

May 23rd, 2007 Categories: Fairlington, Keller Williams, Single Family Homes

Having been a long time owner in Fairlington, I wanted to share a few snippets about this amazing neighborhood for those in our area or those interested in coming to our area. Fairlington is a must see. I have captured a lot from www.fairlington.org below

Situated just south of the Pentagon and just about 5 miles from the White House, over the years this neighborhood has been quite an epicenter for government housing. I decided to forward along a little information from the neighborhood website I felt was interesting regarding the history of Fairlington.

Fairlington is a unique and historically significant community that was constructed for defense workers and their families by order of President Franklin D. Roosevelt in response to the D.C. housing shortage brought on by World War II.

“On the eve of American’s entry into World War II, President Roosevelt called in Houston architect Kenneth Franszheim to design housing for the wartime executives who would soon be working in and around Washington. Franzheim, joined by architect Alan B. Mills, was given his pick of skilled workers, and he had first crack at scarce building materials. He also had the money to do a first-rate job. Average cost per unit came to $10,300.”

(Fairlington Homes, 1943, Courtesy National Archives)After a condominium conversion in 1972, Hartford sold the two projects for about $59 million to Chicago Bridge and Iron Corporation, an international builder of heavy engineering structures. Hodges and Lee became minority stockholders and officers of a new entity, CBI-Fairmac Corporation. Hodges, its president, and Lee, the executive vice president, and treasurer, began work to convert Fairlington into seven condominium villages. Walter Hodges died in 1978, just as the rehabilitation of Fairlington was completed.

Today, Fairlington reflects the charm of times gone by. Brick colonial style, slate roofs, and tree-lined streets are a testament to the expert planning and design of renowned architects Kenneth Franzheim and Alan B. Mills, while the unique sense of commmunity is affirmation of the love Fairlington’s inhabitants feel for its past and their commitment to its future.

Fairlington remains a very well preserved example of the Colonial Revival style in Northern Virginia and in the Washington Metropolitan area.

Fairlington Becomes An Historic District

“On December 2, 1998, Fairlington was listed in the Virginia Landmarks Register and on March 29, 1999, in the National Register of Historic Places. These honors were the culmination of an effort begun in 1989 by Fairlington resident Lorraine Drolet.”Today Fairlington still thrives and has been a great neighborhood for many. Many government officials still call it home. I can recall not so long ago walking my dog in the early evening and having Newt Gingrich pull up in front of one of his friends houses and as as he got out of his car and started walking to his destination he commented on how cute my dog was and gave her a little pat on the head.

Arlington Real Estate