Buy Alexandria Real Estate: January 2010

As homeowners, we tend to think more about the things coming into our house (i.e. electricity, gas, water, pests, etc.) rather than the things going out.  However, lots of stuff leaves our homes every day in the form of waste.

What happens to it?  Do you really want to know?  I think inquiring minds want to know.

I recently met a water engineer who told me that while most people don't think about it, the costs of dirty water leaving our homes is more expensive than the costs of water coming into our homes -- the sewer part of the water & sewer bill makes up more of the expenses.

Arlington County, Virginia recently released a video that explains what happens to our "crap" at its waste treatment facility.  If you've ever driven down South Glebe Road towards the intersection of Route 1 in Arlington (near Crystal City) you've likely noticed the stench. 

Watch the entertaining and very educational video below to learn more about:

CRAP: Where it Goes & What Happens to It!

Sure, the real estate market brings challenges for buyers, sellers, and for real estate agents.

Yet, despite those challenges, they are nothing compared to the challenges faced every day by young children with diseases, serious illness, or injury. 

That's why RE/MAX International partners with Children's Miracle Network (CMN).  Here in the D.C. area, we support the Children's National Medical Center in Washington D.C.

I'm very proud to announce that my company, RE/MAX Allegiance, through the generous contributions of our brokers, agents, and staff raised $173,572 in 2009 for the sick children in our markets!

When you buy or sell a home with me, I will make a contribution to the Children's Miracle Network on your behalf.

If you've ever spent a Spring day walking around Ben Brenman Park, the large park adjacent to the Cameron Station neighborhood in Alexandria, you've definitely delighted in the beautiful cherry trees around the lake.

Well, according to the Alexandria Gazette Packet, those cherry trees are going to be a little less colorful this year.

Seems that "a pack of beavers has been munching on the trunks of Yoshino trees there."  The paper reports that "[c]ity arborists have removed about 40 Yoshino cherry trees in the last two months in the wake of the all-you-can-eat beaver buffet."

It was a coincidence that I happened to read this article yesterday, since I've met the culprits.  Yes, I saw some members of the pack last month while walking around the lake. 

Say hello to the culprits:

While these beavers are busy gnawing at cherry trees and building their dams, I'm busy selling real estate in Northern Virginia.  My first sale of the year closed yesterday and I've got another one closing next week.

2010 is the year of the busy beavers in Northern Virginia real estate.

HAPPY NEW YEAR!

Before looking ahead, it's important to take a look back at real estate sales for 2009.  At the start of 2009, inventory of homes on the market was quite a bit down from 2008, prices had come down somewhat, everyone was talking about foreclosures, and the economy was at a standstill.  Nobody really knew what to expect in 2009, especially with a new federal administration about to get started.  The home sales news for 2009 in Northern Virginia was pretty good!  Home sales were up in almost all jurisdictions and inventory levels decreased dramatically throughout the year. 

Whether you are planning to sell your home in 2010 are are interested in purchasing a home this year (I know it's on some of your New Year's resolutions lists), it's necessary to understand some numbers -- the number of sales and the amount of inventory available.

How many homes sold in Northern Virginia in 2009?

                                                                                                                   % Change from 2008
ALEXANDRIA CITY                 1,972 Homes Sold in 2009                    +10.5%
ARLINGTON COUNTY              2,620 Homes Sold in 2009                     +12.9%
FAIRFAX COUNTY                 15,141 Homes Sold in 2009                    +10.5%
FALLS CHURCH CITY                   166 Homes Sold in 2009                     +27.7%
LOUDOUN COUNTY                   5,251 Homes Sold in 2009                    -1.3%
PRINCE WILLIAM COUNTY    8,522 Homes Sold in 2009                   -3.9%

In almost all markets, especially the closer in jurisdictions, volume of sales were up over 10%.  Prince William County sales numbers dropped slightly from the record-setting year in 2008 but were still at high levels.  Overall there were an additional 1,543 sales in Northern Virginia in 2010 as compared to 2009 or a total increase in volume of 4.8%

How many Northern Virginia homes will sell in 2010?  Pull out your crystal balls.  There's a ton of variables this year and the experts and prognosticators vary widely on their predictions of a real estate recovery, the economy, how much foreclosures and short sales will continue to impact our market, the impact of the homebuyer tax credit, etc.

INVENTORY ALERT!!

As of the start of 2010, here are the inventories of resale homes listed for sale on the Multiple Listing Service:

                                                                                        % Change from 1/1/09
ALEXANDRIA CITY                    394 Homes Available                                 -26.4%
ARLINGTON COUNTY                 527 Homes Available                                 - 21.1%
FAIRFAX COUNTY                   2,101 Homes Available                                -53.0%
FALLS CHURCH CITY                     29 Homes Available                                -43.1%
LOUDOUN COUNTY                  1,061 Homes Available                                -41.5%
PRINCE WILLIAM COUNTY       994 Homes Available                                -61.5%

Overall, inventory numbers are way way down from what they were one year ago today.  This could be very good news if you are planning to sell your home this year.  If 2010 home sales continue at the 2009 pace, some jurisdictions currently have under 2 months of inventory supply!  To learn more about the Northern Virginia inventory issue read  The Story is Inventory (or lack thereof).

IMPORTANT MESSAGE TO NORTHERN VIRGINIA BUYERS AND SELLERS:

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

The market is changing. 

2010 IS THE TIME to get expert advice, a skilled negotiator, and a savvy real estate broker who knows how to navigate this market to help you with your real estate goals.