Buy Alexandria Real Estate: January 2008

Love is in the air!  Literally.

Valentine's Day lurks around the corner in just over 2 weeks.  Amazon.com just announced the Top 20 Most Romantic Cities in the U.S.A.  Guess what?  It's no surprise that the Commonwealth of Virginia tops the list with 3 cities.  After all, people around the country and the world know our state slogan "Virginia is for Lovers."

Better than that, ALEXANDRIA, VIRGINIA WAS NAMED THE MOST ROMANTIC CITY IN THE COUNTRY.

Alexandria beat out such places as Miami, Atlanta, San Francisco, and Austin (respectively numbers 3, 10, 15, and 18).  Neighboring Arlington, Virginia ranked #9, and Washington D.C. was #11.  Richmond, the capital of Virginia held its own for romantic inclinations at #19.  So, while people may leave their hearts in San Francisco, they obviously come to Virginia when their amorous spirit infuses their soul.

To find these results, Amazon.com compiled sales data of romance novels, relationship and sex books since Jan. 1, 2008, on a per capita basis in cities with over 100,000 residents.

From the charm of the Potomac River, the historic homes in Old Town Alexandria, the proximity to D.C., the unique and eclectic shops of King Street, the variety of restaurants, and the temperate climate, what's not to love about Alexandria?

Romance, romance, romance.

Need some ideas for Valentine's Day in Alexandria?

Here's a few:

• In the heart of Old Town Alexandria, shop for lingerie, bath items, candles, and other romantic gifts at Romance for the Senses at 1102 King Street.
  
  
  
• How about a stroll along the Potomac River and a visit to The Torpedo Factory where you and your loved one can gaze at beautiful artwork and crafts from local artisans (and maybe find that perfect piece to adorn your bedroom wall)?
  
  
  
• Romantic dinner -- you can't beat Restaurant Eve, the highly rated intimate restaurant at 110 S. Pitt Street.  Better book now.  Valentine's Day is sure to sell out.
  
  
  
• Take a walk with your significant other around the lake and gazebos at Ben Brenman Park, adjacent to the Cameron Station neighborhood.  You'll spot Canadian geese, turtles, fish, and maybe even a beaver or two.
  
  
  
• Don't forget to stop into one of Hallmark's 3 Alexandria locations and find the perfect card for your sweetie.

While you're out and about in the most romantic city in the country, why not check out some of the charming homes such as the Historic Homes of Old Town Alexandria, Condos at Watergate at Landmark, the large balconies at Alexandria Knolls West, or Condos in Cameron Station?

Buy a home in Alexandria, Virginia and set up your own little love shack (or bachelor pad)!

CLICK HERE TO START YOUR SEARCH FOR AN ALEXANDRIA HOME 

Foreclosures can be very rough on an owner of a home. There's lots of blame to spread around. Some of the blame falls on unscrupulous and/or greedy lenders, some on unwise borrowers, some on the frenzy of the recent real estate boom, and yes, even some of it on the bad advice of REALTORS. Despite this, a large number of foreclosures occur because of some change in the owner's financial situation, whether it be job loss, a divorce, or a serious and expensive medical problem. Nobody wants to see someone lose their home, whatever the circumstances.

Nevertheless, the rise in foreclosures do present a buying opportunity for people looking to purchase a home at under market value. This can be first-time buyers willing to put in some sweat equity to improve the property, or investors hoping to add to and profit from their real estate portfolio.

One must be cautious when purchasing a foreclosed and bank-owned property. These homes will almost be always be sold in "AS IS" condition with no repairs being made and no home inspection contingencies allowed. Many times there will be substantial issues with the condition of the home. Remember that banks do not foreclose on their loans until the owner has missed 3, 4 or more monthly payments. A homeowner who is not paying their mortgage is likely not spending the necessary money to maintain the home, its appliances, and systems in good order either. When purchasing a foreclosure, you need to be ready to spend some money, time and effort on repairs immediately after settlement. This is built into the price of the foreclosure.

The number of foreclosures and bank-owned properties in Northern Virginia varies greatly depending upon which area you are searching. For more information, read Northern Virginia Real Estate -- Where are the Foreclosures and Short Sales?

Alexandria has very few foreclosures compared with some other areas of Northern Virginia, but there are a few. Here are several Alexandria foreclosures for sale, pinpointed on the interactive map below:

ALEXANDRIA 2 BEDROOM CONDO $189,900

ALEXANDRIA 1 BEDROOM CONDO $235,900

ALEXANDRIA 2 BEDROOM CONDO $299,900

ALEXANDRIA 2 BEDROOM CONDO $339,500

DEL RAY TOWNHOUSE $416,000

ALEXANDRIA SINGLE FAMILY HOME $439,900

CONTACT ME TO FIND OUT ABOUT FORECLOSURES IN ALEXANDRIA OR ELSEWHERE IN NORTHERN VIRGINIA

Brian Block, RE/MAX Allegiance 703-626-0715

As an Alexandria citizen and as an active REALTOR® in the City of Alexandria, I am dismayed by the appearance of graffiti on the side of the vacant CompUSA building at 5901 Stevenson Avenue, Alexandria, VA 22304.

In my business, I spend considerable effort promoting Alexandria, Virginia as a wonderful place to live and work.  Through original articles that I write and post on the internet in my real estate blog, I introduce potential homebuyers (and other real estate professionals around the country) to features of Alexandria such as the Charles E. Beatley, Jr. Central Library, the historic homes of Old Town Alexandria, various Alexandria neighborhoods, and updates on real estate market conditions.  I know that your goal and job as Mayor and ambassador of our city is to make Alexandria a beautiful and safe place to live and to attract more people and companies to move to the city.

With the current problems in the real estate market, home sales have slowed down throughout Northern Virginia.  Alexandria has not been immune, though our market has held up better than towns and counties further out from D.C.  As you know, the CompUSA building stands at a very visible point in West Alexandria.  It is one of the first landmarks you see exiting the 395 highway onto Duke Street and at the highly trafficked crossroads of South Walker Street and Stevenson Avenue.  The building greets residents of “Condo Canyon” as they return home and is one of the first buildings that potential homebuyers see when searching for a new home in this part of Alexandria.

It is bad enough that the building has stood empty for several months.  Large vacant commercial properties with vast parking lots invite and are targets for theft, vandalism, trespassing, and are often the scene of shady dealings.  Several weeks ago, I noticed large graffiti on the wall facing Walker Street and the very busy Passport Chrysler dealership.  This graffiti is an unwelcome addition to the West Alexandria neighborhood.  As a resident of this area of the City, I feel less secure in my own community every time I see this graffiti.  Moreover, this public vandalism makes it more difficult for me to sell homes in West Alexandria during this already challenging market.

I understand that the City has an Adopt-a-Block Litter Program and other task forces designed to combat this type of vandalism and graffiti and I applaud those efforts.  Furthermore, I understand that the graffiti is on private property, not public City property.  Obviously the owner of the property is responsible for cleaning off the defacement of the building, but in several weeks has not done so.

Therefore, Mr. Mayor, I ask for your help in leading the charge against vandalism.  Please help clean off this wall!

Respectfully,

Brian Block, REALTOR®
RE/MAX Allegiance
703-626-0715
brian@brianblock.com

Despite our fast-paced internet and television culture, Americans and Northern Virginians still enjoy cracking open a good book from time to time.  The book industry is a mega-billion dollar industry with giants like Barnes & Noble, Borders Books, and online behemoth Amazon.com leading the pack.  Small independent bookstores have increasingly been forced out of the market as the big bookstores add gourmet coffee shops and plush reading couches to their shops to entice the book-reading public.

However, if you wish to save some money and get a real sense of community, it's time to skip the bookstore and skip on over to Charles E. Beatley, Jr. Alexandria Library. 

Located at 5005 Duke Street in the West End of Alexandria, the Charles E. Beatley, Jr. library is the central library of the Alexandria City system.  Opened in January 2000, this 60,000+ square foot modern building across Duke Street from the Cameron Station neighborhood offers books, periodicals, DVDs, audiobooks, CDs, internet stations, reading areas, meeting rooms and more.  

Approaching the stately entrance between a circle of tall pillars, one senses something special when entering the library. Inside the doors you are greeted by sculptures, paintings, or whatever other public art is on display during the month.  The soaring ceilings inside add grace and presence and a relaxing atmosphere for perusing the neatly laid out stacks of reading material. 

To your left you'll find the extensive children's section where your kids can choose from old classics like Winnie the Pooh, Dr. Seuss, and Nancy Drew mysteries and new selections such as Harry Potter and the Deathly Harrows.  Walking past the checkout counter, you'll find a multitude of public internet stations where you can surf the internet for fun, research, or work for up to 120 minutes at a time.

Further into the Charles E. Beatley, Jr. Library, you'll find neatly laid out areas of interest including literature, non-fiction, instructional, reference, young adult, and in the far end are the periodicals with comfortable, relaxing chairs and couches for catching up on the latest news or reports.

On any given day, you'll find Alexandrians old and young alike enjoying the library.  High school and college students congregate to quietly study and work together on their homework in the environment of the library.  Seniors enjoy reading, volunteering at the library, and relaxing away from the hustle-bustle of the D.C. area.  The library has several meeting areas that are available for community groups, companies, and individuals to rent for meetings and small functions.  You'd be hard-pressed to find a day when the parking lot at Charles E. Beatley, Jr. library isn't near capacity.  Click here for the library's schedule of events.

Want to find out what's going on around town?  Near the entrance, the library has a community bulletin board with various postings by different community organizations and local performing groups.

Just browsing and not sure what to read?  The staff of the library has produced helpful reference pamphlets to point you to some of the best reads in whatever area may interest you.  Some of their informative guides include:

• "And the Winner Is...Award Winning Books at Beatley Central Library,"
• "Whodunnits in History -- Fictional Works Featuring Historical Figures,"
  
• "Learning English,"
•  "Resources for Buying a Home,"
• "Chick Lit."  -- novels dealing with love, marriage, fidelity, work & friendship, usually written by women for women.

Stop spending so much time and money at the big bookstores.  Discover and support your community. 

Skip on down to Charles E. Beatley, Jr. Central Library today.  Get your library card and delve in.

CLICK HERE TO LEARN MORE ABOUT HOMES FOR SALE NEAR THE LIBRARY

George Washington slept here -- and so can you!  Own a piece of history in Old Town Alexandria.  It's been nine years since the City of Alexandria celebrated its Semiquincentennial (that makes it 259 years old, having been founded in 1749).  

Residents and visitors alike know Old Town Alexandria for its art galleries, antique shops, great restaurants, lively nightlife on King Street, the George Washington Masonic Memorial on Shuter's Hill, the Potomac River, and cobblestone alleyways.  At the eastern end of Old Town Alexandria lies the Torpedo Factory which was once an actual torpedo factory, now converted into artist's studios where they sell their crafts, paintings and sculptures.

Due to Old Town Alexandria's proximity to Washington, D.C., many trade associations, lobbying firms, and law firms have offices within the city's boundaries.  Newer offices, hotels, shops, and restaurants have recently been built on the West End of Old Town Alexandria in the Carlyle area, around Carlyle Tower condos and the U.S. Patent and Trademark Office which relocated to Old Town in 2005.

Residential housing in Old Town Alexandria ranges from brand new condominiums and townhouses such as those found at the Prescott Condominiums and Potomac Greens to much older historic townhouses and single family homes.  

Of the 198 homes currently on the market in zip code 22314 (which includes all of Old Town Alexandria), 24 are more than one hundred years old.  And, of those, 13 were built before the Civil War!   History buffs:  Imagine owning one of these old homes that have obviously stood the test of time!  They are available from $485,000 to over $3 million.

After purchasing a historic home in Old Town Alexandria, you'll want to trot down to Gadsby's Tavern built in 1785 and still serving food and operating as a tavern today, and explore the adjoining museum.  Just down the street is the historic Lee-Fendall House also built in 1785 and operating as a museum and venue for private social functions.  

Recent home sales data for Old Town Alexandria:

Given that December is traditionally a slower time for real estate sales than November, home sales in Old Town Alexandria seem to be holding up pretty well.

Own a piece of history -- take a look at some of the available historic homes:

OLD TOWN ALEXANDRIA                  2 Bedroom 1 Bathrooms       $485,000      Built in 1815

OLD TOWN ALEXANDRIA                  3 Bedroom 2 Bathrooms       $749,000       Built in 1840

OLD TOWN ALEXANDRIA             3 Bedroom 2.5 Bathrooms     $995,000      Built in 1818

OLD TOWN ALEXANDRIA                 4 Bedroom 3.5 Bathrooms     $1,375,000   Built in 1816

OLD TOWN ALEXANDRIA                 5 Bedroom 2.55 Bathrooms   $2,250,000   Built in 1770

CLICK HERE TO RECEIVE MORE INFORMATION ON ALL AVAILABLE OLD TOWN ALEXANDRIA HOMES 

Brian Block        RE/MAX Allegiance        703-626-0715   

Looking for a maintenance free, resort style condo with great amenities, an amazing pool, and conveniently located near Old Town Alexandria, the Van Dorn metro station, I-95, the Capital Beltway, the Pentagon, and downtown D.C.?

Your search may very well end when you see what Watergate at Landmark Condos have to offer.  Located in the West End of Alexandria in "Condo Canyon," the Watergate complex consists of 4 buildings: 203 Yoakum Parkway, 205 Yoakum Parkway, 307 Yoakum Parkway, and 309 Yoakum Parkway.  

Click here to learn more about the All Inclusive Lifestyle at Watergate at Landmark in Alexandria. The pool alone may have you dreaming about Summer during this cold mid-winter day.  Not to worry, Watergate at Landmark also sports an indoor pool for your use year-round.

Current Inventory of Available Condos at Watergate at Landmark:

As of January 21st, there are 31 condos on the market comprising 13 one bedroom units, 15 two bedroom units and 3 three bedroom condo units.

Take a peek at some of the available inventory:

Watergate at Landmark 1 Bedroom 1 Bath          $269,000

Watergate at Landmark 2 Bedroom 2 Bath          $365,000

Watergate at Landmark 2 Bedroom 2 Bath          $295,000

Watergate at Landmark 3 Bedroom 2 Bath          $369,000

If you are thinking about buying a condo at Watergate at Landmark, now may be a good time.  Condos there have been on the market an average of 124 days.  The average listing price is higher than the average sales price for comparable units during 2007 (see chart below), so there is a good chance of negotiating a lower price.  

CLICK HERE TO RECEIVE INFORMATION INFORMATION ON ALL AVAILABLE CONDOS 

If you are thinking about selling your condo at Watergate at Landmark, you will need to be realistic about pricing the unit for sale.

CLICK HERE TO FIND OUT HOW MUCH YOUR WATERGATE CONDO IS WORTH 

Based on the disconnect between current pricing and recent sales, there should be a slight downward price adjustment on the units for sale at Watergate at Landmark.

If you have questions about any condos at Watergate at Landmark or elsewhere in Alexandria or Northern Virginia, please feel free to call me at 703-626-0715.

Brian Block        Block Real Estate Group, LLC        RE/MAX Allegiance 

Happy New Year!

Before looking ahead, let's take a quick look back at real estate sales for 2007.  Whether you plan to sell your home in 2008 or are interesting in purchasing a home this year, it's important to understand some numbers.  Everyone likes to look at prices.  That's fine.  However, you also need to look at number of sales and the amount of inventory available.

How many homes sold in Northern Virginia in 2007?

ALEXANDRIA CITY                 2,207 Homes Sold in 2007
ARLINGTON COUNTY              2,973 Homes Sold in 2007
FAIRFAX COUNTY                 13,293 Homes Sold in 2007
FALLS CHURCH CITY                   141 Homes Sold in 2007
LOUDOUN COUNTY                  4,963 Homes Sold in 2007
PRINCE WILLIAM COUNTY    4,897 Homes Sold in 2007

How many will sell in 2008?  That's anyone's guess.  You may as well try to guess how many gumballs are in this antique gumball machine.  Anyway, there's no prize for right answers.  Everyone likes to make predictions and prognostications, yet even the so-called experts are always revising their numbers up, down, diagonally and sideways as the year progresses.

As of the start of 2008, here are the inventories of resale homes listed for sale on the Multiple Listing Service:

ALEXANDRIA CITY                    665 Homes Available
ARLINGTON COUNTY                 674 Homes Available
FAIRFAX COUNTY                  5,868 Homes Available
FALLS CHURCH CITY                    48 Homes Available
LOUDOUN COUNTY                 2,804 Homes Available
PRINCE WILLIAM COUNTY  4,757 Homes Available

What does all this mean?  In Arlington, the inventory of homes available is 22% of the number of sales that were completed in 2007.  Contrast this with Prince William County where inventory represents over 97% of the total number of sales last year.  This means that it will be increasingly difficult to sell your home in Prince William County than it is in Arlington, due to the high inventory numbers.  This assumes that home sales continue at the rates that they did in 2007.  What if sales continue to slow through 2008?  People who wish to sell their homes will have to lower their price to get the home sold.

You can't control the market.  You can't control the prices or the number of sales.

YOU CAN CONTROL HOW YOU PRICE AND MARKET YOUR HOME!

2008 is NOT THE TIME to price your home high and "test the market."  If you need to sell your home, you must price it right from the beginning.

2008 is NOT THE TIME to try to sell the home by yourself.  You need to expose your home to the broader market and utilize the expertise of a professional Realtor to market and sell your home.

2008 is NOT THE TIME to leave your home a mess and expect buyers to overlook the condition.  To compete in the marketplace, your home needs to be in tip-top condition and may need professional staging.

2008 IS THE TIME to get expert advise, a skilled negotiator, and a savvy internet Realtor who knows how to market and sell your home.

Whether you are considering buying or selling a Northern Virginia home in 2008, here are some important articles that you should read:

You Might Actually Afford a Home in 2008

Selling Your Home -- Know the Broker's Duties

Single Family Homes are Available in ALL price ranges in Northern Virginia

How long does it take to Sell a Home in Alexandria, Virginia?

No Day Trading in the Real Estate Market

Mighty Paragaph 7 of the Sales Contract

Choosing a Good Negotiator for Your Real Estate Deal

Waiting for the Bottom: Don't Bother

Increasing the Value of Your Northern Virginia or D.C. Home

Selling a Home in Northern Virginia & D.C.: Step by Step Flowchart

7 Things You Must Do to Sell Your Home in Northern Virginia

"We can always reduce the price later" -- Price Reductions are NOT A GOOD MARKETING PLAN for Northern Virginia Homes

** CLICK HERE TO FIND OUT HOW MUCH YOUR HOME IS WORTH **

Brian Block      RE/MAX Allegiance    703-626-0715