Buy Alexandria Real Estate

Arlington Virginia Real Estate Market Snapshot April 2012

Mon, 30 Apr 2012 10:07:53 -0700

What's Happening today in the Arlington, Virginia Real Estate Market?

The chart below details all of the closed home sales activity in Arlington, Virginia for March 2012:

Sales volume for March 2012 is exactly the same in terms of the number of sales and up slightly on total dollar volume from March 2011. Days on market is down 5% from last March and median sales prices are up almost 9% in Arlington.

Here's a snapshot of the current market for Arlington Virginia home sales at the end of April 2012:

Active homes for sale: 565 -- 239 homes, or over 42% of these Arlington homes have come on the market within the last 30 days!
700 homes have sold in Arlington since the beginning of 2012, or an average of 175/month. At this rate, there's currently 3.22 months of inventory on the market in Arlington. Very good news if you're planning to sell your Arlington home!
Average listing price in Arlington, VA: $723,351
Price range: The least expensive listing price in Arlington is $69,900. The most expensive home is listed for $6,000,000.
Average days on market: 71 days.
There's an additional 516 homes in Arlington that are currently under contract pending sale. 318 of those contracts were ratified within the last 30 days.

As you can see from the stats above, Arlington remains a very active market.

** Find a Home in Arlington**

Thank you for reading my blog post. If you like what you’ve read, then please:

Follow, Connect, Watch, Subscribe

If you plan to purchase or sell a home in the Northern Virginia or D.C. area,
you can visit my main Northern Virginia & D.C. real estate website at www.VirginiaRealEstateNews.net.

START YOUR NORTHERN VIRGINIA HOME SEARCH TODAY!

Win Tonight's Mega Millions: What $363 Million Will Buy You in Northern Virginia Real Estate!

Tue, 27 Mar 2012 14:11:52 -0700

If you've been watching television, reading the news, looking at the internet, going to a gas station, convenience store, or just about anywhere in the last few days, you know that tonight's Mega Millions lottery drawing jackpot is a staggering $363 Million. Yes, the cash option comes in at "just" $259 million. And then there's taxes. If you choose to get the yearly installments, you'll be pulling in a cool $13,975,500 a year for the next 26 years. No matter how you slice and dice it, let's face it -- it's a boatload of money. You could even jump into the Presidential race at this late stage and still be able to fund a strong campaign! It's okay to daydream...

Let's take a fun look at what $363 Million can buy you in Northern Virginia real estate. In addition to a good tax advisor and financial planner, you'll no doubt need a great Northern Virginia REALTOR after you win this bundle of cash.

How many average Northern Virginia homes could you buy?

In February 2012, the average home sales price in Northern Virginia was $396,107. With $363,000,000, you could buy 916 homes. That's almost exactly half of the total number of homes sold in the area during the month of February (there were 1,834 total home sales).

Maybe you're particularly interested in Alexandria, Virginia. If so, you're in luck. There are 391 homes on the market in Alexandria at an average price of $635,627. You could buy all of them for just over $248 million. Taking the cash option on the lottery winnings, you'd still have $11 million left for furnishings, or $28,000 per house. If you bought all these Alexandria homes, you'd be the proud owner of 1,173 bedrooms, 1,173 full bathrooms, and 391 half bathrooms. You could sleep in a different bedroom every night for the next 3 years!

While you couldn't quite afford to purchase all of the 514 available homes in Arlington whose price averages $750,151, you could pick up over 480 of them.

McLean, Virginia boasts an average current listing price of over $2.2 million. While this number is skewed by some very high-end homes, 148 out of the 199 available homes on the market in McLean are priced at over $1 million. Therefore, even tonight's Mega Millions winner can't afford to buy them all. However, after taxes paid on your winnings you could still scoop up 80 ultra luxurious homes in McLean!

Falls Church is the smallest city in the country and there's only 30 homes currently on the market there. You could buy them all at full asking price for $21,103,590 since the average listing price is $703,453. This would hardly make a dent in your winnings!

Maybe you're only interested the best in luxury. After all, you're now a multi-millionaire. After the fanfare dies down from the big win, you want to buy some REAL real estate. Million dollar homes are almost common-place now. Let's go for the $4 million+ price tag. Right now there's 40 of these available in Northern Virginia -- the average price is $6,631,242. You could afford to buy 39 of these with your winnings, though with a great Northern Virginia REALTOR negotiating for you, you should be able to get them all and still have some money left over. If you bought all these estates, you'd be the proud owner of 117 acres of prime land in Northern Virginia along with 234 bedrooms and 312 bathrooms.

Okay... stop dreaming. You didn't win...

You can still start your search for Northern Virginia real estate here in any price range.

If by some chance in 175,000,000, I win the jackpot tonight, I'll be happy to refer you to another professional REALTOR who can help you...

GOOD LUCK!

Thank you for reading my blog post. If you like what you’ve read, then please:

Follow, Connect, Watch, Subscribe

If you plan to purchase or sell a home in the Northern Virginia or D.C. area,
you can visit my main Northern Virginia & D.C. real estate website at www.VirginiaRealEstateNews.net.

START YOUR NORTHERN VIRGINIA HOME SEARCH TODAY!

Arlington Virginia Real Estate Market Snapshot for March 2012

Mon, 19 Mar 2012 09:37:05 -0700

What's Happening today in the Arlington, Virginia Real Estate Market?

The chart below details all of the closed home sales activity in Arlington, Virginia for February 2012:

And, here's a snapshot of Arlington Virginia home sales in the last 30 days from the middle of February 2012 through now:

ARLINGTON VIRGINIA HOME SALES:

Active homes for sale: 507-- 221 of those have come on the market within the last 30 days! More inventory is coming on the market in recent days as sellers are gearing up for the traditionally busy spring selling season in Northern Virginia.
Average listing price in Arlington: $746,851. Homes are available in Arlington from $69,900 to $6 million. Do you want to see available homes in Arlington by price range? Click on one or more of the following links (updated every day):

Under $200,000
$200K to $300K
$300K to $400K
$400K to $500K
$500K to $600K
$600K to $700K
$700K to $800K
$800K to $900K
$900K to $1M
$1M to $1.5M
$1.5M to $2M
$2M+

Arlington homes sold in the last 30 days: 182. At this rate, it would take just 2.79 months for the current Arlington inventory to sell. If you're considering selling your home in Arlington, the odds are certainly in your favor!
Average sales price: $527,996
Median sales price: $465,984
Average days on market: 54-- homes are selling on average quite quickly in just under 8 weeks
Average sales price/original listing price: 96.2% -- there's some negotiating room. However, with the inventory levels so low, sellers are getting closer to their asking price.

The highest priced Arlington home sold in the last 30 days was for $2,110,502.

Arlington Virginia Market Statistics Charts

Find a Home in Arlington

Thank you for reading my blog post. If you like what you’ve read, then please:

Follow, Connect, Watch, Subscribe

If you plan to purchase or sell a home in the Northern Virginia or D.C. area,
you can visit my main Northern Virginia & D.C. real estate website at www.VirginiaRealEstateNews.net.

START YOUR NORTHERN VIRGINIA HOME SEARCH TODAY!

Arlington Virginia Condo Inventory & Sales Report (February 2012)

Mon, 06 Feb 2012 15:42:42 -0800

The Arlington condo market is really hot! Condos are selling throughout Arlington with multiple offers and the inventory is very low. Here's some stats about Arlington Virginia condominium sales and inventory for February 2012.

Currently there are 207 condos on the market for sale in Arlington. That may seem like a lot, but considering that 216 Arlington condos sold in the last 90 days, 207 is not that many... 54 sold in the last 30 days alone. Based on the 90 day numbers, there's only about a 2.875 month inventory of Arlington condos.

The condos for sale in Arlington range in price from $79,000 to $4.15 million with an average listing price of $512,397 (considerably higher than neighboring Alexandria). Here's the breakdown by size of the condo:

One Bedroom Arlington Condos

69 on the market

Price range from $79K to $855K

Average listing price $329,287

Two Bedroom Arlington Condos

107 on the market

Price range from $170K to $2.05 million

Average listing price $536,038

Three Bedroom Arlington Condos

21 on the market

Price range from $350K to $4.15 million

Average listing price $1,072,521

Over the last 30 days the average final sales price of Arlington condos that sold was $444,413. On average Arlington condo sellers are obtaining 95.03% of their original listing price -- showing that there's still quite a bit of room for negotiation.

Condos sold in an average of 53 days on the market. From surveys that have come back from sellers that have worked with my office, the average expectation for a sale is 60-90 days, so Arlington condos are selling fairly quickly which is pleasing to sellers!

The chart below shows the condominium complexes in Arlington with the highest number of units on the market. (Note: Jefferson Retirement is a 55+ retirement community in Ballston)

Interested in buying a condo in Arlington? Search for Arlington condos here.

Thinking about selling your Arlington condo or just want to know the value? Confidential and free market analysis of your condo's market value.

Thank you for reading my blog post. If you like what you’ve read, then please:

Follow, Connect, Watch, Subscribe

If you plan to purchase or sell a home in the Northern Virginia or D.C. area,
you can visit my main Northern Virginia & D.C. real estate website at www.VirginiaRealEstateNews.net.

START YOUR NORTHERN VIRGINIA HOME SEARCH TODAY!

Alexandria Virginia Condo Inventory & Sales Report for February 2012

Mon, 06 Feb 2012 15:25:59 -0800

The Alexandria condo market is hot! Condos are selling throughout the city and the inventory is quite low. Here's some stats about Alexandria Virginia condominium sales and inventory for February 2012.

Currently there are 176 condos on the market for sale in Alexandria. Considering that 185 Alexandria condos sold in the last 90 days, 176 is not that many... 46 sold in the last 30 days. Based on the 90 day numbes, there's only about a 2.85 month inventory of Alexandria condos.

The condos for sale in Alexandria range in price from $100,000 to $2.1 million with an average listing price of $363,058. Here's the breakdown by size of the condo:

One Bedroom Alexandria Condos

62 on the market

Price range from $100K to $450K

Average listing price $255,627

Two Bedroom Alexandria Condos

93 on the market

Price range from $135K to $1.45 million

Average listing price $375,819

Three Bedroom Alexandria Condos

19 on the market

Price range from $179.9K to $1.55 million

Average listing price $561,955

Over the last 30 days the average final sales price of Alexandria condos that sold was $269,469. From this you can see that the lower end of the market is selling more readily and briskly than the higher end of the condo market in Alexandria. On average Alexandria condo sellers are obtaining 93.49% of their original listing price -- showing that there's still quite a bit of room for negotiation. However, some of that number for January is likely skewed from price reductions that occurred towards the end of 2011 or the beginning of the new year.

Condos sold in an average of 70 days on the market.

The chart below shows the condominium complexes in Alexandria with the highest number of units on the market.

Interested in buying a condo in Alexandria? Search for Alexandria condos here.

Thinking about selling your Alexandria condo or just want to know the value? Confidential and free market analysis of your condo's market value.

Thank you for reading my blog post. If you like what you’ve read, then please:

Follow, Connect, Watch, Subscribe

If you plan to purchase or sell a home in the Northern Virginia or D.C. area,
you can visit my main Northern Virginia & D.C. real estate website at www.VirginiaRealEstateNews.net.

START YOUR NORTHERN VIRGINIA HOME SEARCH TODAY!

Your Best Bet with Brian Block: Read all about it in REALTOR Magazine

Sun, 29 Jan 2012 13:29:28 -0800

REALTOR Magazine gets mailed out to over 1 million subscribers. That's a fairly strong subscription base making it the publication for our industry. Published by the National Association of REALTORS, the magazine calls itself "The Business tool for Real Estate Professionals"

So, when you're extensively quoted in a publication of this magnitude, it's a pretty big deal, particularly when the writers have over 1 million REALTORS who they could come to as sources for their articles. It's an even bigger deal when the article is a featured article mentioned on the cover.

Warning: Shameless horn-tooting here!

One of the cover articles in the January/February 2012 issue of REALTOR Magazine (currently in the mailboxes of REALTORS around the country and online) is "Real Estate's Strongest Sectors for 2012" -- take a look at page 24 if you have the magazine. Inside the magazine, the article is actually entitled "The Year Ahead: Real Estate's Best Bets in 2012."

Here's a link to the online version of the article so you can read it in full: REALTOR Magazine article "The Year Ahead: Real Estate's Best Bets in 2012"

I'm excited to be quoted throughout the section on residential real estate trends for 2012. It's always an honor to be relied upon by the media as a trusted source of real estate information.

Here's just one sample quote from the article:

"Affordable housing in inner-ring suburbs or center city areas may be real estate's sweet spot in 2012, Block says, because buyers today aren't looking just for bargains, they're looking for convenience and lifestyle amenities."

Check out my other recent press coverage at my online newsroom.

Thank you for reading my blog post. If you like what you’ve read, then please:

Follow, Connect, Watch, Subscribe

If you plan to purchase or sell a home in the Northern Virginia or D.C. area,
you can visit my main Northern Virginia & D.C. real estate website at www.VirginiaRealEstateNews.net.

START YOUR NORTHERN VIRGINIA HOME SEARCH TODAY!

Home = Happiness!

Wed, 25 Jan 2012 11:19:53 -0800

NEWSFLASH: Buying a Home May Be One of the Best Ways to Achieve Happiness!

The pursuit of happiness... It's what we all seek isn't it? After all this ideal finds prominence in the founding document of our country thanks to Thomas Jefferson who borrowed from John Locke and changed property to "pursuit of happiness."

People try many things to try to find happiness. And there are many paths to achieving happiness. You may find it at church, at synagogue, on the sports field, or the dance floor. Some find it through charitable endeavours and others pathways include Zen meditation. Helping others, finding new and exciting challenges, life-long learning... any of these things can lead to a happy life.

It's been said that "Money Can't Buy Happiness!"

Well, last week I read an article called "8 Ways that Money Can Buy Happiness" and I concluded that buying a home for the reasons I'll cite below may just be a great way to help achieve happiness!

Why Buying a Home Can Make You Happy:

"Buy more experiences and fewer material goods." -- the article states that:

Asked which of the two purchases made them happier, fully 57% of respondents reported that they had derived greater happiness from their experiential purchase, while only 34% reported greater happiness from their material purchase.

What? You might say that a home is a material good! Whatch'a talking about Brian? And yes, technically a home is a material good -- it's made up of bricks and siding, a roof, plumbing, electrical systems, appliances, etc. However a home is much more than that. Homes are much more than the sum of their material parts. You make memories in your homes. You raise your families in your homes. You have good times (and bad) in your homes. You entertain, you wine, you dine.

Before you buy it, it's a house -- you have an inspection, you make sure everything's working, you negotiate a price. Once you've been living there, it becomes a home -- or the sum of all the experiences you have there. No wonder selling it can be such an emotional experience.

Ready for some happiness?

Search for Homes in Northern Virginia

Thank you for reading my blog post. If you like what you’ve read, then please:

Follow, Connect, Watch, Subscribe

If you plan to purchase or sell a home in the Northern Virginia or D.C. area,
you can visit my main Northern Virginia & D.C. real estate website at www.VirginiaRealEstateNews.net.

START YOUR NORTHERN VIRGINIA HOME SEARCH TODAY!

Where'd That Home Go? In Northern Virginia, it's Under Contract or Sold!

Fri, 06 Jan 2012 17:51:48 -0800

It was just here. Now it's gone.

Ooohhh. Here's another one. Looks promising. Gone too!

Okay... Don't blink. Don't turn the other way for even half a second.

Gonna find that home.

Wait, could've sworn this one was still available. After all, it was on Zillow, Trulia, and REALTOR.com. But, yet... it's gone.

What's happening?

Where'd that home go? That was our dream house! Will we ever find one?

...

If you're like many home buyers today, you've had a fairly similar internal dialogue while searching the dearth of homes on the market in Northern Virginia.

A quick look at inventory numbers tells the story.

Taking the current inventory of homes on the market in each jurisdiction and dividing by the average amount of monthly sales during the last 12 months, here's the state of Northern Virginia housing inventory expressed in number of month's worth of inventory:

Alexandria City:       2.11 months
Arlington County:           2.32 months
Fairfax County:               2.05 months
Falls Church City:            1.37 months
Loudoun County:             3.02 months
Prince William County: 2.28 months

Wow! Considering that a balanced market is defined by 5-6 months' worth of housing inventory, there's almost nothing available. If no other homes were to go on the market for sale in Falls Church for example, houses would completely sell out there by mid-February 2012! It's no wonder that homes are nowhere to be found.

As a Northern Virginia homebuyer, you've got to be prepared to jump when the right available home comes along.

Take a look at the chart below which compares the average days on the market recently with the same statistic 4 years ago (blue line represents recent time period). Boy, has the market changed! Houses in Northern Virginia are selling on average a full 30 days or more faster than they did back then.

Advice for Buyers: Search for Northern Virginia homes today! Contact me to see them as soon as you see something you like so that you don't miss out.

Advice for Sellers: If you are serious about selling your Northern Virginia home, let's price it right, put it on the market and watch the buyers swarm!

Thank you for reading my blog post. If you like what you’ve read, then please:

Follow, Connect, Watch, Subscribe

If you plan to purchase or sell a home in the Northern Virginia or D.C. area,
you can visit my main Northern Virginia & D.C. real estate website at www.VirginiaRealEstateNews.net.

START YOUR NORTHERN VIRGINIA HOME SEARCH TODAY!

Old Town Alexandria, Virginia: A Guided Video Tour

Wed, 04 Jan 2012 09:18:47 -0800

Thinking about living in Old Town Alexandria, Virginia? Get a feel for this vibrant historic area just 7 miles south of the Nation's Capital. Brian Block, a real estate broker with RE/MAX Allegiance provides a guided tour to the sights, sounds and highlights of Old Town.

Search for homes in Old Town Alexandria

Alexandria Virginia Real Estate Market Statistics

Thank you for reading my blog post. If you like what you’ve read, then please:

Follow, Connect, Watch, Subscribe

If you plan to purchase or sell a home in the Northern Virginia or D.C. area,
you can visit my main Northern Virginia & D.C. real estate website at www.VirginiaRealEstateNews.net.

START YOUR NORTHERN VIRGINIA HOME SEARCH TODAY!

How Many Homes Sold in 2011? How Many Will Sell in 2012?

Tue, 03 Jan 2012 19:07:15 -0800

HAPPY NEW YEAR!

Before looking ahead, it's important to take a look back at real estate sales for 2011. At the start of 2011, inventory of homes on the market was way down from 2010, the federal homebuyer tax credit was over, and the economy was still in flux. The home sales news for 2011 in Northern Virginia was a mixed bag. Prices were up in most areas and the market has generally stabilized. However the overall number of homes sold was down in almost all jurisdictions.

Whether you are planning to sell your home in 2012 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 2011?

                                                                                                                % Change from 2010
ALEXANDRIA CITY                 1,970 Homes Sold in 2011                    +3.6%
ARLINGTON COUNTY            2,355 Homes Sold in 2011                     -9.1%
FAIRFAX COUNTY                 12,541 Homes Sold in 2011                    -8.7%
FALLS CHURCH CITY               193 Homes Sold in 2011                  +36.0%
LOUDOUN COUNTY                   4,773 Homes Sold in 2011                    -2.5%
PRINCE WILLIAM COUNTY    5,752 Homes Sold in 2011                   -12.2%

In almost all markets with the exception of Alexandria and Falls Church, volume of sales were down. Prince William County sales numbers dropped by the largest amount. Overall there were 2,234 less home sales in Northern Virginia in 2011 as compared to 2010 or a total decrease in volume of 7.5%

How many Northern Virginia homes will sell in 2012? 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 job market, and the new Congress.

INVENTORY ALERT!!

As of the start of 2012, here are the inventories of resale homes listed for sale on the Multiple Listing Service:

                                                                                        % Change from 1/1/11
ALEXANDRIA CITY                    347 Homes Available                                 -32.9%
ARLINGTON COUNTY                 455 Homes Available                                  -5.0%
FAIRFAX COUNTY               2,142 Homes Available                               -14.4%
FALLS CHURCH CITY                 22 Homes Available                                -15.4%
LOUDOUN COUNTY                  1,202 Homes Available                                 -4.2%
PRINCE WILLIAM COUNTY    1,094 Homes Available                               -19.1%

Overall, inventory numbers are way down from already low inventories at the beginning of 2011. This could be very good news if you are planning to sell your home this year. If 2012 home sales continue even at the sluggish 2011 pace, most jurisdictions currently have less than 2-3 months of inventory supply! Incredibly good news if you plan to sell your home and price it right!

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 constantly changing.

2012 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.

Thank you for reading my blog post. If you like what you’ve read, then please:

Follow, Connect, Watch, Subscribe

If you plan to purchase or sell a home in the Northern Virginia or D.C. area,
you can visit my main Northern Virginia & D.C. real estate website at www.VirginiaRealEstateNews.net.

START YOUR NORTHERN VIRGINIA HOME SEARCH TODAY!

How to Size up a Home in 8 Minutes or Less

Wed, 14 Dec 2011 14:20:16 -0800

You should take your time when searching for a home.

That's worth repeating: You should take your time when searching for a home.

If such an important project is rushed too quickly then you're susceptible to making mistakes not achieving good long-term results. A home search and home purchase ranks really high on life's priority list. If you're like most people, you (and your family) will be spending many waking hours and almost all of your sleeping hours in that home for the next 5-7 years. You don't want to screw this decision up -- the consequences are much farther reaching, much more costly, and much longer-lasting than simply picking the wrong item off the menu at Ruth's Chris (as if that's possible) or bringing home a wrong sized shirt from Macy's.

That being said, there's no reason to waste time either when you are out on a home tour looking at potential homes. Real estate is a process of elimination. Working with a good REALTOR and viewing photos, descriptions, and virtual tours online, you've likely eliminated a good many homes before you physically go to view the remaining candidates.

Take your time and linger in the homes that you like. Test things. Search around. Explore. That's what the home tour is all about.

In the spirit of eliminating homes from your list of potentials and not wasting time, keep reading below:

HOW TO SIZE UP A HOME IN 8 MINUTES OR LESS

You Hate The Neighborhood: Keep on driving! The home looked perfect online and in the description, but then you got to the neighborhood. Uh oh. Abandoned cars. People storing boats. Pink flamingoes on the neighbor's lawn. This is not your idea of the ideal neighborhood. You can fix up the house but you can't do much about the neighborhood. No need to get out of the car. Your REALTOR will understand and will not be offended. No need to waste your time looking at this house!
Match up your priorities: You've got your wants and needs list. There are certain things you'll compromise on but others that are dealbreakers. If you walk into a home and see a dealbreaker, walk right out. There's no reason to keep looking and to keep saying to yourself "if this home only didn't have..." or "if only this home had..." Move on.
Quick Cursory Glance: Walk the main floor first -- kitchen, dining room, living room -- these are the important rooms where you'll be spending a lot of time. Head upstairs. Look at room sizes, closet space, bathrooms. Unless you like these areas and want to see more, skip the basement. If the main levels pass the "smell" test, then explore further.
Same floor plan. Look for differences: Often times when viewing numerous homes, you'll come across similar floor plans. Don't waste time looking at the same stuff. Look for differences between this home and others you've seen. It's the little (and big) differences that matter.
Split up: Want to really save time? If you're searching for a home with another family member or friend, split up and view different parts of the home simultaneously. If one of you sees something you love or hate, call the other one over to see it. If one of you sees a dealbreaker, call the other one and scram.
Realize that your first impressions are usually right: Whether you love the home or you hate it, you'll likely know pretty quickly. Learn to trust your first impressions. If you love it, or even really like it, keep exploring the home. Don't bother pulling out the tape measure and flushing toilets if the home doesn't have the walk-in closet or is in the wrong school zone.

You're on your own timetable. There's no rush when purchasing a home, but wasting time is an anathema, isn't it? My favorite home inspector likes to say "Festina Lente -- Make Haste Slowly" -- look it up.

Thank you for reading my blog post. If you like what you’ve read, then please:

Follow, Connect, Watch, Subscribe

If you plan to purchase or sell a home in the Northern Virginia or D.C. area,
you can visit my main Northern Virginia & D.C. real estate website at www.VirginiaRealEstateNews.net.

START YOUR NORTHERN VIRGINIA HOME SEARCH TODAY!

Posted Prices? A Gallon of Milk & An Average House

Mon, 19 Dec 2011 15:12:33 -0800

Curiously, if you drive by almost any gas station, convenience store, or grocery store, you'll see posted the current price of a gallon of milk, and the cost of a pack of cigarettes. Since I don't consume either product, these prices don't mean much to me. However, for others these staple items are benchmarks of the economy as a whole.

So, what do you think? Should real estate offices post the average sales price each month for homes in the neighborhood right above the entrance?

A gallon of milk this week was $2.99 at the local gas station.

The average sales price for a home in Arlington, VA last month was $512,725.

Would you like to pick up a house on your drive home from work?

Here's the average sales prices around the Northern Virginia area for homes sold in November 2011:

ALEXANDRIA $450,602

ARLINGTON $512,725

FALLS CHURCH    $476,768

GREAT FALLS    $1,279,767

MCLEAN               $851,102

WASHINGTON DC   $514,274

Perhaps we should post a price range, since while the average price in McLean is $851,102, homes sold between $185,000 and $3.5 million.

Thank you for reading my blog post. If you like what you’ve read, then please:

Follow, Connect, Watch, Subscribe

If you plan to purchase or sell a home in the Northern Virginia or D.C. area,
you can visit my main Northern Virginia & D.C. real estate website at www.VirginiaRealEstateNews.net.

START YOUR NORTHERN VIRGINIA HOME SEARCH TODAY!

Arlington Virginia Real Estate Market Snapshot for December 2011

Wed, 14 Dec 2011 15:06:29 -0800

What's Happening today in the Arlington, Virginia Real Estate Market?

The chart below details all of the closed home sales activity in Arlington, Virginia for November 2011:

And, here's a snapshot of Arlington Virginia home sales in the last 30 days from the middle of November through now:

ARLINGTON VIRGINIA HOME SALES:

Active homes for sale: 530 -- 119 of those have come on the market within the last 30 days. Compared to previous months, inventory and listing activity is down significantly.
Average listing price in Arlington: $719,806. Homes are available in Arlington from $59,900 to almost $7 million. Do you want to see available homes in Arlington by price range? Click on one or more of the following links (updated every day):

Under $200,000
$200K to $300K
$300K to $400K
$400K to $500K
$500K to $600K
$600K to $700K
$700K to $800K
$800K to $900K
$900K to $1M
$1M to $1.5M
$1.5M to $2M
$2M+

Arlington homes sold in the last 30 days: 175. At this rate, it would take just 3.03 months for the current Arlington inventory to sell. If you're considering selling your home in Arlington, the odds are certainly in your favor!
Average sales price: $536,012
Median sales price: $487,514
Average days on market: 45 -- homes are selling on average quite quickly in just over 6 weeks
Average sales price/original listing price: 95.18% -- there's some negotiating room.

The highest priced Arlington home sold in the last 30 days was for $1,775,000.

Arlington Virginia Market Statistics Charts

Find a Home in Arlington

Thank you for reading my blog post. If you like what you’ve read, then please:

Follow, Connect, Watch, Subscribe

If you plan to purchase or sell a home in the Northern Virginia or D.C. area,
you can visit my main Northern Virginia & D.C. real estate website at www.VirginiaRealEstateNews.net.

START YOUR NORTHERN VIRGINIA HOME SEARCH TODAY!

Real Estate is a Process of Elimination

Tue, 01 Apr 2008 08:01:50 -0700

Do you select the home that you like or do you eliminate the ones that you don't?

People often ask me "How many homes will we have to look at to find the right one?" There's no standard answer to this question since it varies from client to client. I've had several clients look at just 2 or 3 homes and find the one that they ultimately purchased. One of my clients went to see a single home, placed an offer and moved in within a month. (Granted she had looked at dozens and dozens of homes online, but only physically visited one.) That's a rarity, but a REALTOR's dream, especially with today's gas prices. Then there are clients who want to see every single home on the market in their price range.

I'd say that the average homebuyer steps foot into between 8 to 12 homes before making a final decision on which one to purchase. Much more than that and you may get weary of the home search. Viewing much fewer homes means that you may be missing out on the best deal and the right fit.

No matter how many homes you view, real estate is a process of elimination, not selection. It's all about narrowing down the field, finding out which ones won't work, until you're inevitably left with the best option. Very logical, to be honest. What's the chance of picking out one perfect house out of the thousands and thousands that are available? Isn't it more likely to eliminate the ones that won't work and taking a closer look at the few good candidates?

Think about any competition. For example in the Miss America contest, 50 beautiful women appear on the stage in front of the judges. The judges don't just view the 50 gorgeous women and immediately select one as a winner. There's a series of competitions -- talent, bathing suit, evening gown, interview, by which the field is narrowed down to semi-finalists and finalists. Once the field is winnowed down to a smaller group, each contestant is scrutinized more carefully.

In real estate, it starts by creating your wants and needs list. What's important to you? Location, schools, commute, amenities, size, price range, fireplace, backyard, security, granite counters, etc. You'll start at the top of your list -- the most general and start eliminating.

Have you ever played 20 questions? It's that game where one person thinks about anything in the world and another person has to guess it within 20 questions. You start by asking broad questions and narrow it down. Thus, you'll begin with asking the famous "Is it bigger than a bread basket?" or "Is it something living?" This will quickly narrow things down so that later on you can ask such specific questions such as "Is it green?"

The same goes in real estate. First, find and establish your price range. Next, decide upon a location. Then get more specific and start eliminating homes. Start looking at homes online by requesting listing to be e-mailed to you at www.SearchHomesbyEmail.com. Once you've got the field narrowed, then you can start looking for things like hardwood floors, granite countertops, and stainless steel appliances.

Now, it's time for a closer look. Visiting homes you'll see whether there's enough closet space. Does everything appear clean or did the sellers just dress it up for the online virtual tour? Is the neighborhood really how you thought it would be? Whoops, we didn't know the train would be so loud!

I'd be happy to show you as few or as many homes as you like in your home search in Northern Virginia or D.C. We'll quickly eliminate those that don't work for you and find the one that does.

Whether you are buying or selling, choosing the right Northern Virginia REALTOR works in much the same way. Here's some criteria to get you started:

Look for one who has been in the business for more than 5 years.
Find a REALTOR who is not only an agent, but also a Broker.

Only 4% of REALTORS have earned the coveted Certified Residential Specialist (CRS) designation. Find one of them.
How about a REALTOR who is also an attorney and worked for a real estate law firm?
Choose a good negotiator.
A technologically savvy REALTOR with a blog, websites, and who knows how to market.
You're going to spend a lot of time with your REALTOR in the next 30-60 days. You want someone with personality and a sense of humor.

Eliminate those that don't fit these criteria and then give me a call at 703-626-0715 or email me at brian@brianblock.com.

Thank you for reading my blog post. If you like what you’ve read, then please:

Follow, Connect, Watch, Subscribe

If you plan to purchase or sell a home in the Northern Virginia or D.C. area,
you can visit my main Northern Virginia & D.C. real estate website at www.VirginiaRealEstateNews.net.

START YOUR NORTHERN VIRGINIA HOME SEARCH TODAY!

Most Expensive Home Sales in Northern Virginia for November 2011

Mon, 05 Dec 2011 15:20:13 -0800

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 2011. All information was obtained through MRIS.

Overall, there were 50 Northern Virginia home sales topping $1 million during November 2011, just a slight decrease from October. The numbers continue to decrease from this Summer. Things are a bit slower in the luxury market right now.

Currently, there are 619 homes on the market in Northern Virginia with list prices topping $1 million - this is a large decrease from the number that were on the market in recent months.

NOVEMBER 2011'S MOST EXPENSIVE SALES

Single Family Detached Homes:

7714 Georgetown Pike, McLean, VA 22102 -- Sold on November 30th for $3,049,500
Built in 2008, this 10,000+ square foot home in McLean features 7 bedrooms, 7 full and 2 half baths and 8 fireplaces on 2.5 acres.
1173 Dolley Madison Blvd., McLean, VA 22101 -- Sold on November 3rd for $2,700,000
Located at Ballantree Farms in McLean, this gated estate on an acre offers 6 bedroom suites, 7 full bathrooms, a gourmet kitchen, mahogany library, two offices, lots of built-ins, and enough space to entertain about 300+ guests. This magnificent home was built in 1985 and sold for $662,000 under the asking price!

1051 Brook Valley Lane, McLean, VA 22102 -- Sold on November 21st for $2,520,000
On 2 acres in Prospect Hill in McLean, this Tusan styled villa has open floor plans with all kinds of architectural details including dramatic 30 foot ceilings. the owners spent over $500K on landscaping alone in this home built in 2006. The almost 7000 square feet of luxury living space is complemented by a 4 car garage and gated entry.

938 Leigh Mill Road, Great Falls, VA 22066 -- Sold on November 16th for $1,925,000
Built in 2007 on 4 acres in Great Falls, this home features hardwood floors, flagstone paitos, marble and granite countertops. There's 6 bedrooms, 5.5 bathrooms, 3 fireplaces, and an additional carriage house with a kitchenette. It sold for just $55K under the asking price.

CLICK TO SEARCH FOR AVAILABLE SINGLE FAMILY HOMES IN NORTHERN VIRGINIA

Townhouses:

708 Duke Street #6, Alexandria, VA 22314 -- Sold on November 17th for $1,065,000
In the heart of Old Town Alexandria, this townhouse features almost 2,000 square feet of living space, 3 bedrooms, 2.5 baths, a dramatic gourmet kitchen and a stylish patio with fire pit. There's a sauna inside, 2 assigned parking spaces, and the home is within easy distance of the Metro, Old Town restaurants, and the Potomac River.

1551 N. 22nd Street, Arlington, VA 22209 -- Sold on November 23rd for $1,052,000
Built in 1995, this Palisades Park townhouse has 4 levels, lots of natural light, high ceilings and seasonal views of the Potomac River and Georgetown. Near the Rosslyn Metro, this home also has a 2 car garage. With 3 bedrooms, 3 full and 2 half baths, this home sold for just $75K under the asking price.

107 Princess Street, Alexandria, VA 22314 -- Sold on November 30th for $1,009,000
This brick end townhouse is just 500 feet from the Potomac River waterfront. Built in 1969, this home has over 2000 square feet of space, a gourmet eat-in kitchen, gas fireplace, and the roof was just replaced in 2011. The listing price was $1,095,000.

420 S. Lee Street, Alexandria, VA 22314 -- Sold on November 17th for $1,000,000
Rounding out the top townhouse sales is this one within steps of Lee Street Park. Four bedrooms, 2.5 bathrooms, this townhouse was built in 1850 and features views of the gardens, front and rear stairs, tall ceilings, hardwood floors, and unique woodwordk. It was sold in "as is" condition and went for $195K less than the asking price.

SEARCH AVAILABLE TOWNHOUSES IN NORTHERN VIRGINIA

Condominiums:

1450 Emerson Avenue #414, McLean, VA 22101 -- Sold on November 29th for $1,150,000
Located at the Palladium at McLean, thid downtown McLean 2 bedroom 2.5 bathroom condo is a corner unit with 2,633 square feet of space and windows on 3 sides! The private elevator opens directly into the condo unit which features maple floors, 10 foot ceilings, 2 balconies, and a whirlpool bath. Sold for just $45K under the asking price.

11990 Market Street #1002, Reston, VA 20190 -- Sold on November 28th for $1,099,000
This 10th floor condo at Midtown at Reston Town Center has mountain and sunset views. The 3 bedroom, 3 bathroom condo has 2,111 square feet of space and sold for the listing price.

8220 Crestwood Heights Drive #1604, McLean, VA 22102 -- Sold on November 1st for $1,000,000
Harris Teeter's in your basement here! This 16th floor unit at One Park Crest is just minutes to shopping, dining and the future Tyson's metro stations. The 2 bedrooms and 2 bathrooms are just a part of what makes this 1,940 square foot condo special.

1530 Key Blvd. #1115, Arlington, VA 22209 -- Sold on November 9th for $950,000
Another condo sale at the always popular Atrium Condo in Arlington! This 11th floor unit features hardwood floors, and updated kitchen and bathrooms, 3 separate balconies with views of Georgetown and the Potomac River and two garage parking spaces. Plus almost 1900 square feet of living space.

SEARCH AVAILABLE CONDOMINIUMS IN NORTHERN VIRGINIA

Thank you for reading my blog post. If you like what you’ve read, then please:

Follow, Connect, Watch, Subscribe

If you plan to purchase or sell a home in the Northern Virginia or D.C. area,
you can visit my main Northern Virginia & D.C. real estate website at www.VirginiaRealEstateNews.net.

START YOUR NORTHERN VIRGINIA HOME SEARCH TODAY!