Buy Alexandria Real Estate: November 2008

Why wait for one day a year to give thanks?  Don't be a turkey.

I've got "My Gratitude List" posted right in front of my computer where I can see it everyday and reflect on it each and every day.

My Gratitude List

Here's what I am grateful for:

• God's presence in my life.
  
• Being born and raised in the United State of America
  
• My freedom and the men and women who fight to maintain it.
  
• My education; my parents who treasured and paid for it; and the teachers who taught it.
  
• My health and the privileges it affords me.
  
• My wonderful wife who surrounds me with beauty, support, loyalty, and admiration every day and enjoys our mutual journey of growth.
  
• My home with gives me stability and security.
  
• My quest for learning and knowledge about life and the world.
  
• My opportunities which abound for the taking.
  
• My family and friends who care about me.
  
• My clients who trust me.
  
• My unique and exquisite experiences and memories.

Tomorrow is another day to look back upon the past year and express thanks for the many blessings. 

Thank you to everyone who's been a part of my life this year!  You are greatly appreciated.

Thanks & please pass the white meat, stuffing and gravy...

It's been about 6 weeks since I last posted about the condo inventory in Alexandria, Virginia.

Since then, available condominium inventory has decreased by 14% to 306 currently available Alexandria condos as of November 25, 2008.  This represents about 47% of all inventory of homes available in the City of Alexandria.  During the month of October there were 58 condo sales in Alexandria.

Based on the October rate of sales, there is a 5.275 month supply of condos in Alexandria.  This decrease in inventory over the last 6 weeks is a welcome sign for condo owners looking to sell their property.

The chart below shows the inventory of condos at the 8 communities with the most current inventory on the market in Alexandria:

Here are the current average prices in Alexandria:

Studio Condos -- 9 available, average price $171,511

1 BR Condos -- 105 available, average price $231,369 (Oct. 2008 avg. price - $245,226)

2 BR Condos -- 158 available, average price $316,119 (Oct. 2008 avg. price - $334,374)

3 BR Condos -- 33  available, average price $384,464 (Oct. 2008 avg. price - $348,737)

Click here to SEARCH FOR A CONDO IN ALEXANDRIA

Contact Brian Block, REALTOR/Attorney, RE/MAX Allegiance: Licensed in Virginia & Washington D.C. (703) 626-0715. If you are interested in purchasing or selling a property in Northern Virginia including Arlington County, Alexandria City, Annandale, Burke, D.C., Fairfax County, Falls Church City, Lorton, Springfield, Washington D.C., contact Brian today.

"You are in real estate.  I feel sorry for you these days."

I've lost count of how many times someone has said something along these lines to me in the past few weeks and months.

What with the daily news of the economy, devastating media reports about the real estate market, foreclosures, prices taking nosedives, etc. -- what should people be thinking?

"You must have a lot of time on your hands these days."

"Have you thought about a back-up plan or a part-time job?"

Is the real estate market really that bad?  The market presents challenges, for sure, but there are also opportunities.  It is not a bad market, but a changed one here in Northern Virginia and D.C.

After my $970,000 settlement on a luxury townhouse in Arlington on November 7th, I've had a new answer to this barrage of questioning for the last 10 days:

"Actually I just closed my biggest sale about a week ago -- almost $1 million."

Jaws drop.  Bewilderment ensues.  Misperceptions are shattered.  Maybe the market really ain't that bad.

Or maybe this guy Brian Block is doing something right. 

While other REALTORS spend their last days hanging on in the business complaining about the market around the water cooler waiting for their phone to ring, the strong agents and brokers are surviving, even thriving.

Action and attitude win out every day over media hype and complaining whining.

And while I continue to enjoy the afterglow of a big sale, I'm not bragging about it around a water cooler... I'm too busy this week with 3 new buyers.

Good thing I never got that part-time job...

I still have time for you!

Contact Brian Block, REALTOR/Attorney, RE/MAX Allegiance: Licensed in Virginia & Washington D.C. (703) 626-0715. If you are interested in purchasing or selling a property in Northern Virginia including Arlington County, Alexandria City, Annandale, Burke, D.C., Fairfax County, Falls Church City, Lorton, Springfield, Washington D.C., contact Brian today.

Sign of a turnaround?

The CEO of my RE/MAX Allegiance franchise recently started a blog with his musings about real estate, the market, the industry, etc.  Charlie Bengel, Jr. unabashedly refers to our company as "The Greatest Real Estate Brokerage in the World"!  Since I've only ever been associated with one other real estate brokerage, in my little world, I'd have to concur.

Last week on The Bengel Blog, Charlie offered the following interesting statistics and anecdotal evidence of a pickup in market activity:

"RE/MAX Allegiance conducted 843 transactions     in September and 722 in October. These stats     may not seem like a big deal, but they may be.     See, that is two months in a row that we had an     increase in the number of transactions     compared with the same months last year. That     is the first time this has happened in years.   
Considering we have fewer Associates than we     did last year, this is quite an accomplishment and may point to the beginning of market improvements." [Emphasis added]

While, I don't have complete statistics on other companies sales, it appears that at least some balloons are flying higher and higher...

Are you wondering about Northern Virginia real estate and pondering what has sold recently?

Here's some information about the most expensive home sales in Northern Virginia (Arlington County, Alexandria City, Fairfax City, Fairfax County, and Falls Church City) for October 2008.  All information was obtained through MRIS.

Overall, there were 53 sales topping $1 million during the month of October 2008 (10 more than in September 2008).  It appears that despite the financial crisis, there are still plenty of people in the D.C. metropolitan area with money to purchase their dream homes.

OCTOBER'S MOST EXPENSIVE SALES

Single Family Detached Homes:

• 1402 Kirby Road, McLean, VA 22101  -- Sold on October 10th for $3,997,500.
  Brand new in 2008, this 11,500 square foot home on 1.45 acres features 3 leavels, 6 fireplaces and 360 degree views of the surrounding woods.  With 6 bedrooms, 7 full bathrooms and 2 half bathrooms, this home has room for anyone and lots of space for entertaining.
  
  
• 925 Mackall Avenue, McLean, VA 22101 -- Sold on October 27th for $3,300,000.
  This 7500 square foot manor home was built in 2004 with a gourmet chef's kitchen, a dramatic 2 story foyer, 3 car garage, pond and waterfall on a beautifully landscaped lot.
  
  
• 8604 Dixie Place, McLean, VA 22102  -- Sold on October 27th for $3,205,000.
  Located in the Woodside Estates area of McLean, this "to be built home" is situated on a 2 acre cul-de-sac.  It will include all the high end finishes and provid either 5200 square feet of space on 2 levels or 8000 sq. ft. on 3 levels.
  
  
• 8200 Sparger Street, McLean, VA 22102  -- Sold on October 27th for $2,688,000.
  Featuring a heated pool and waterfalls, this large home has state of the art amenities, 6 bedrooms, 5 full bathrooms, 3 half bathrooms, 4 levels and 7 fireplaces... oh my!  Located on an almost 1 acre gated lot.
  
  
• 2403 Hunter Mill Road, Vienna, VA 22181 -- Sold on October 24th for $2,150,000.
  This was a foreclosure property!  The home in this bank-owned sale was built in 2006 and features 10,177 square feet of living space on 3 levels and 1.9 acres.  The home has a wine bar, media room, exercise room, and elevator.
  

SEARCH FOR AVAILABLE SINGLE FAMILY HOMES IN NORTHERN VIRGINIA 

Townhouses: 

• 1425 Harvest Crossing Drive, McLean, VA 22101 -- Sold on October 1st for $1,625,000.
  This townhouse in the Evans Farm community of McLean was built in 2003 with lots of great features.  There are 6 bedrooms and 5.5 bathrooms.  The centerpiece of this 4,916 square foot townhouse is the kitchen with SubZero, Viking, and Asko appliances.  There's also a "rough-in" for an elevator in case the new owner gets tired of the townhouse stairs.
  
  
• 1202 N. Jackson Street, Arlington, VA 22201 -- Sold on October 21st for $1,092,500.
  Located in popular Lyon Village in Arlington, this home built in 2001 is only a 5 minute walk to the Clarendon Metro, making one wonder whether they'll ever use the 2 car garage.  With over 3500 square feet of space, this large townhouse/semi-detached home features high ceilings, granite counters, and custom moldings.
  

• 4210 N. 11th Street, Arlington, VA 22201 -- Sold on October 16th for $1,035,000.
  This Bromptons at Ballston townhouse is located just one block from the Ballston metro.  With 3 bedrooms, 2.5 bathrooms and over 3,000 square feet of living space, this townhouse also features a 2 car garage, hardwood floors, cherry cabinets and granite counters.
  
  
• 1511 N. 22nd Street, Arlington, VA 22209  -- Sold on October 28th for $880,000.
  Near Rosslyn and just across the Potomac River from Georgetown, this Palisades Park townhouse with a gourmet kitchen, 4 levels, 4 bedrooms and 4.5 bathrooms was built in 1995 with 2,250 square feet of living space.  It's an end-unit townhouse and larger than many in the community.
  

SEE AVAILABLE TOWNHOUSES IN NORTHERN VIRGINIA

Condominiums: 

• 1300 Crystal Drive, Penthouse 04, Arlington, VA 22202 -- Sold on October 26th for $1,050,00
  The penthouse!  Amazing views of D.C., the Potomac River and the airport from the 40 foot glass-enclosed balcony.  This two story penthouse in Crystal Gateway features wood floors, a lavish marble bath and 2,780 square feet of space.  By the way, Senator John McCain's condo is in the same building!
  
  
• 1200 Crystal Drive #513, Arlington, VA 22202 -- Sold on October 26th for $915,000.
  This 3 bedroom, 3 bahtroom condo at Waterford House in Crystal City features 1,772 square feet of space and great views of the sunrise and D.C. Monuments  The 51 foot balcony is warpped by floor to ceiling windows.  Other features includ Italian crafted light fixtures, 2 walk-in closets and new Bosch appliances.
  
  
• 1600 Clarendon Boulevard #W410, Arlington, VA 22209 -- Sold on October 29th for $906,000.
  $906,000 for a 1 bedroom condo?  You better believe it!  At the Wooster and Mercer Lofts, this penthouse with 22 foot ceilings and a private rooftop terrace sold for that price.  It's quite large for a one bedroom condo at 1,252 square feet.
  
  
• 1600 Clarendon Boulevard #M403, Arlington, VA 22209 -- Sold on October 28th for $900,000.
  Another Wooster & Mercer Lofts condo -- actually larger than the one above at 1,490 square feet.  This one features 10 foot ceilings, 1 bedroom and 2 full baths.
  
  
• 1220 N. Fillmore Street #704, Arlington, VA 22201 -- Sold on October 29th for $850,000.
  At the popular Station Square condos, this 1,761 square foot unit with 2 bedrooms and 2.5 bathrooms is the largest unit in the development and was the first one ever offered for resale.  It has custom built-ins, an open floor plan and panoramic D.C. skyline views.  Located just one block from the Clarendon Metro, shops and restaurants.

North Arlington dominated this month's list of highest priced condo sales.

SEE AVAILABLE CONDOMINIUMS IN NORTHERN VIRGINIA 

Contact Brian Block, REALTOR/Attorney: Licensed in Virginia & Washington D.C. (703) 626-0715. If you are interested in purchasing or selling a property in Northern Virginia including Arlington County, Alexandria City, Annandale, Burke, D.C., Fairfax County, Falls Church City, Lorton, Springfield, Washington D.C., contact Brian today.