Buy Alexandria Real Estate: December 2008

Before you head off for a weekend of holiday shopping or traveling, here's a snapshot of real estate sales in Alexandria, Virginia for the last 30 days.

Alexandria, Virginia Home Sales:

• Active homes for sale:  617 (includes 129 new listings in the last 30 days)
• Homes sold in last 30 days: 112
• Average Sales Price: $444,907
• Median Sales Price:  $409,910
• Average Days on Market:  67
• Average Sales Price/List Price:  94.6%

Search Homes for Sale in Alexandria

Contact Brian Block, REALTOR/Attorney, RE/MAX Allegiance: Licensed in Virginia & Washington D.C.
Cell: 703-626-0715.    Specializing in  helping buyers and sellers in  Alexandria, VA.

Ch-ch-ch-ch-changes
(turn and face the strain)

-- David Bowie

There's no doubt in anyone's mind that the real estate market has changed.  It's different today than it was 6 months ago.  It's different from a year ago.  And, oh boy, the real estate market is really different from several years ago.

As a real estate broker, a large part of my job is informing people about the realities of the real estate market.  It is always up to the client to determine how much they want to offer for a property or whether they wish to have a home contingency inspection.  My role is to provide guidance based on the reality of the current market.  Same goes for sellers listing their homes for sale here in Northern Virginia.  I'll provide you with the data about other home sales an help guide you to a suitable price.

Here's a look back today on some past guidance I provided by way of a handout to homebuyers.  Note that I created this document back on April 27, 2005:

Buying a Home takes More than Luck!

7 THINGS YOU MUST DO TO BUY A HOUSE IN OUR CURRENT MARKET

1.    APPROVED FOR YOUR LOAN

2.    POSSIBLY WILLING TO WAIVE INSPECTION

3. POSSIBLY WILLING TO WAIVE APPRAISAL

4.  MUST BE WILLING TO OFFER AT LEAST 5-10% OVER ASKING PRICE

5.   ACT QUICKLY!

6.   NO OTHER CONTINGENCIES

7. LARGER EARNEST MONEY DEPOSIT

No, I never advised anybody to waive a home inspection or an appraisal in 2005 or 2006 (or ever for that matter).  However, I did inform buyers that the trend in the overhyped market would make it difficult for them to purchase without doing so.  This was reality.

Boy Have Times Changed!

To learn about today's Northern Virginia real estate market, feel free to contact me and understand what you need to know now.

Contact Brian Block, REALTOR/Attorney, RE/MAX Allegiance: Licensed in Virginia & Washington D.C.
Cell: 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, McLean, Springfield, Washington D.C., contact Brian today.

If you are trying to sell your home in Northern Virginia or planning to do so, it may seem like the perfect storm has formed to prevent you from doing so.  Between the bailouts, the sour economic news, the media hype, and the foreclosures down the street pushing your price down, you may be wondering if your home will ever sell.

Then someone like me comes along and publishes a post entitled Sellers Don't Despair... June is Just 6 Months Away. Note to Buyers: Buy Now! That's like breaking open your Chinese fortune cookie in mid-winter only to read "For better luck, you will have to wait until the Summer!"  Don't laugh, that actually happened to a friend of mine once.  (The waitress was kind enough to bring us a handful of fortune cookies after we brought that sour fortune to her attention)

Well, I'm pleased to announce that there is a potential bright spot for sellers in Northern Virginia.  As they say, every cloud has a silver lining.  In this case, that silver lining is the housing inventory numbers.  Without exception, every single major Northern Virginia jurisdiction has less homes on the market today than one year ago today.  So, while sales numbers are way down in most areas, and prices have dropped, the lower inventory numbers mean that you'll have a better chance of selling your Northern Virginia home because there are less homes competiting for the attention of buyers.

This chart compares housing inventory as of December 15, 2008 with the inventory that existed on December 15, 2007:

For example, if you were to put your home on the market today in Fairfax County, you'd have 5,215 homes vying for the attention of buyers and their agents.  Compare that to 6,777 homes on the market this time last year.

Thinking about selling your Northern Virginia home or just want more information?

Contact Brian Block, REALTOR/Attorney, RE/MAX Allegiance: Licensed in Virginia & Washington D.C.
Cell: 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, McLean, Springfield, Washington D.C., contact Brian today.

During the holiday season, you'll likely be spending a good deal more time in the kitchen.  Today's helpful tips for taking care of your kitchen countertops comes courtesy of Nicholas Draper, President of Granite Source, a Northern Virginia provider of granite and other countertop surfaces.  I thought that this article would be of particular interest to my clients and other readers.

HOLIDAY HELP FOR YOUR COUNTERTOP

By Nicholas Draper, President, Granite Source

It’s December. ‘Tis the season of homemade candies and cookies for Christmas, soofganiot and latkas for Hanukkah, Kwanzaa dishes, and New Years Eve finger foods. With holiday parties and family gatherings, the kitchen gets a lot of use. This is definitely a hard month on your countertop, where every dish begins and ends.

December is also the time when we dig deep into the cupboard and pull out food coloring and sprinkles, as well as various oils for dressings and sauces. Sometimes these ingredients are even put in the hands of children and grandchildren who are able to find creative ways to spill. Our countertops are not only busy places but they under assault.

With all this activity, we want to avoid making memories of our holiday disasters--the stains, nicks, and markings left behind. Whatever countertop material you use, there are certain precautions you can take as well as remedies.

Formica® brand laminate

While laminate surface materials are resistant to scratches and impact under normal use, you should always use a cutting board or chopping block. One stray slice with a knife and you will have a lasting remembrance of the event.

If you are using food dyes and other decorating substances, cover the surface with wax paper or drip-proof table cloth. Also, remember to put hot pads under hot skillets, pots, and pans. If the countertop is exposed to any temperature higher than 140 degrees, the laminate can separate from the core material.

Cleaning Formica® laminate is easy. Normally a clean, damp, non-abrasive cloth with a mild detergent or household cleaner can take care of any spills. Baking soda is another good cleaning remedy. The key, as with most spills, is to clean it up quickly. Remember to blot the spill rather than wiping, so it doesn’t spread. You may need to clean and rinse a few times for total cleaning.

Wood

For wood, you can follow the same recommendations as for a laminate surface, particularly if the countertop is sealed. Unsealed surfaces are vulnerable to liquid stains of all kinds, and require more immediate and careful cleaning. Stains can leave an odor as well as a mark. Usually, rubbing a slice of lemon or other citrus fruits on the wood can take care of the smell.

Most wood countertops come with instructions concerning the use oils to coat the wood. Be sure to follow these directions as soon as the surface is dry.

One of the best ways to clean a wood top is with mix a half-cup of baking soda with a quart of warm water and rub the paste onto the surface with a scouring pad. Be sure to rinse well with water afterward.

Granite

A granite or engineered stone countertop is beautiful addition to any home. It is extremely durable, stain-resistant and easy to care for. Hot pots and pans won't damage it. It won't chip, crack or scratch under normal use. However, it still requires cleaning and upkeep. Using a stone polish regularly is one of the best guarantees for a lasting finish and stain resistance.

A granite countertop should be sealed twice a year with a protective product like DiaminSeal. However, sealants are not foolproof. Stains can occur, especially if the substance contains ingredients such as citrus juices, vinegar, or alcohol. These can strip away the protective sealant. Cooking oil can also find its way to open pores or crevices, especially if the countertop has been used for a long time without re-sealing.

As with other counter surfaces, be sure to clean up a spill as soon as it happens. A solution of mild soap and water applied with a soft sponge will work well as a cleaner. Avoid detergents, abrasive cleansers, rough sponges or scouring pads as they can destroy the sealant and leave scratches. There are cleaning solutions also available from a dealer to be used specifically with a granite countertop.

There is something about a kitchen, not only as a work area but as a gathering place as well. Often, we see guests gravitating to this center of everyday life for friendship and casual conversation. By following a few simple guidelines, we will be able to keep our countertops clean, attractive and entertainment ready.

For more information about countertops, call Granite Source, an award-winning Virginia company 703-961-9557 or visit www.granitesource.net, or email Nicholas@GraniteSource.net.

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 November 2008.  All information was obtained through MRIS.

SPECIAL ALERT:  This month, I am proud that one of my sales made it to the list -- the second most expensive townhouse sold in Northern Virginia in November!

Overall, there were 42 sales topping $1 million during the month of November 2008.  Despite the financial crisis, there are still people in the D.C. metropolitan area with money to purchase their dream homes.

NOVEMBER'S MOST EXPENSIVE SALES

Single Family Detached Homes:

• 6661 Sorrell Street, McLean, VA 22101  -- Sold on November 18th for $3,550,000.
  This brand new home in the Langley Forest subdivision features 5 fireplaces, 5 bedrooms, an au pair suite above the garage, 3 porches, and 7 full bathrooms and 2 half bathrooms!  It sold for $440,000 under the asking price. 
  
  
• 520 Innsbruck Avenue, Great Falls, VA 22066 -- Sold on November 7th for $3,400,000.
  On over 2 acres, this French country estate includes a pool, hot tub, pool house, playground and tennis court.  With 7 bedrooms and 11 total bathrooms, there's plenty of space for everyone.  Throw in a billiards room, movie theater, wine cellar, exercise room, and estate size kitchen and the new owners are certainly very happy.  Very happy indeed considering the listing price was $4,250,000!
  
  
• 8408 Sparger Street, McLean, VA 22102  -- Sold on November 3rd for $3,300,000.
  Just built in 2008, this elegant stone and brick home on just under an acre in McLean includes a library, game room, wine cellar, media room, exercise room, and a wet bar elevator.  There's also a pool.  It sold for $275,000 under the asking price.
  
  
• 10910 Beckman Way, Great Falls, VA 22066  -- Sold on November 19th for $3,025,000.
  Chalk this one up as the bargain of the month.  It sold at auction for almost $1 million below the $4M asking price.  Six bedrooms, 6 full bathrooms, and 11 fireplaces on 5 acres.  Someone got a grand deal on this home built in 2007.
  
  
• 7829 Montvale Way, McLean, VA  22102 -- Sold on November 14th for $2,660,000.
  Built in 2001, this 10,284 square foot home on 3/4 acre has 7 bedrooms, 7 full bathrooms, and 5 gas fireplaces.  The new buyer negotiated more than $300,000 off the asking price.

This buyer's market means it is time to negotiate -- as you can clearly see, there's quite a bit of wiggle room on price in the luxury market.

CLICK TO SEARCH FOR AVAILABLE SINGLE FAMILY HOMES IN NORTHERN VIRGINIA 

Townhouses: 

• 214 Prince Street, Alexandria, VA 22314 -- Sold on November 21st for $1,400,000.
  In the heart of historic Old Town Alexandria, this townhouse was built in 1763.  It is situated 2 blocks to the Potomac River and 2 blocks to King Street (the main shopping street in Old Town).  With 7 working fireplaces, an 12 foot ceilings on 3 levels, this townhouse also features antique heart of pine floors and raised panelled wainscoating.
  
  
• 1048 N. Stafford Street, Arlington, VA 22201 -- Sold on November 7th for $970,000.
  I sold this house.  This townhouse is just a block from the Ballston metro facing a lovely courtyard at the Bromptons at Ballston.  Its four spacious rooms, wood floors and huge windows complement the gracious living space.  My client is thrilled and I can't wait for the housewarming party!
  

• 2415 Fairfax Drive, Arlington, VA 22201 -- Sold on November 21st for $890,000.
  Located in Courthouse Hill, this 3 bedroom, 3 bathroom townhouse was built in 1996 and includes a finished loft, hardwood floors, gas fireplace, and whirlpool tub.
  
  
• 1644 Colonial Hills Drive, McLean, VA 22102  -- Sold on November 14th for $765,000.
  With over 2880 square feet of living space, this large townhouse includes a 2 car garage, granite counters and stainless steel appliances.  There's also a roof top deck.
  

SEE AVAILABLE TOWNHOUSES IN NORTHERN VIRGINIA

Condominiums: 

• 1450 Emerson Avenue #505, McLean, VA 22101 -- Sold on Novmeber 25th for $1,000,000.
  The only million dollar condo this month sold a the Palladium at McLean.  It's a penthouse unit with a library, spacious kitchen and lots of windows -- right in downtown McLean.
  
  
• 11990 Market Street #302, Reston, VA 20190 -- Sold on November 21st for $925,000.
  This 3 bedroom, 3 bathroom condo features over 2,100 square feet of space with views to the south, east and west.  The Midtown Reston building was just built in 2006 and affords easy access to shops, restaurants and the theater at Reston Town Center.
  
  
• 11990 Market Street #312, Reston, VA 20190 -- Sold on November 25th for $745,000.
  Another condo at Midtown at Reston.  This one was a foreclosure sale.
  
  
• 1830 Fountain Drive #1007, Reston, VA 20190 -- Sold on November 14th for $600,000.
  Reston dominated the list of high-priced condo sales in November.  This condo at the Paramount features floor to ceiling windows and panoramic views of both sunrises and sunsets.  At 1,744 square feet, it is a large 2 bedroom, 2.5 bathroom condo.
  
  
• 2001 N. 15th Street #1513, Arlington, VA 22201 -- Sold on November 4th for $555,000.
  Condos at the Odyssey, like this one, typically make the list of expensive condo sales.  This one on the 15th floor has amazing views overlooking Georgetown and the National Cathedral.  It is just minutes away from the Courthouse metro.
  

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.