February 8th, 2010:
Belle View blanketed.
Alexandria and Northern Virginia have been buried in snow this year. On the way to work this morning I saw cars spinning wheels as my Subaru found a way. The Washington Metro Transit Authority closed today and we’re expecting another 10 inches of snow tomorrow. I’ve not seen a plow on the streets all day … perhaps they are readying for the next big blitz?
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- view over Belle View from River Towers
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- Sophie watches the snowfall.
Are Interest Rates About to Rise?
- Image via Wikipedia
Federal Reserve Bank of New York President William Dudley says the central bank will scale back its purchases of mortgage-backed securities late next month. While interest rates likely will climb when the program ceases, the extent of the rise remains to be seen.
Dudley says the Fed will act if rates spike too much. Still, analysts worry that the end of the MBA purchase program and expiration of the home-buyer tax credit, along with higher premiums and tighter underwriting of FHA mortgages, will work together to stifle home sales and price stabilization in the coming months.
Source: Inman News (02/08/10)
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More Owners Optimistic About Home Values
photo credit: Cia de Foto
The number of home owners who fear the value of their homes will fall in the next year declined to 15 percent in January, the lowest level since early 2007, according to a Thomson Reuters/University of Michigan survey published last week.
That’s a big improvement over the first quarter of 2009, when 26 percent expected the value of their homes to decline.
Home owners were less optimistic about gains in the value of their homes, with the average anticipated annual gain holding steady at 2.7 percent in January.
In January, 46 percent said the value of their homes decreased in the past year, while 14 percent said the value had increased.
Source: Reuters News, Julie Haviv (02/05/2010)
4 Reasons to Sell Now
Selling a property in this tough market can seem like a challenge. Here are four factors that actually make this a good time to post a For-Sale sign.
Home on the hill at Belle Haven
- Sell low and buy low. Because all property values are down, the loss on the property a home owner sells is really only a paper loss because the next property he buys also will be a bargain. If he buys smartly, when prices come back up in a few years, he’ll be in better shape.
- Down-payment help is widely available. While nothing-down loans have disappeared, it is easy to find down-payment assistance for lower-income and first-time home buyers. Programs vary all over the country, but one good way to find them is to search online for “down-payment assistance programs” and the name of your region.
- Your uncle has money to share. Besides the $8,000 first-time home buyer tax credit and the $6,500 move-up credit, there are an array of energy tax credits that can make home improvements pay off in cash.
- Good help is available. Really talented real estate practitioners, contractors, and designers are available and eager for business.
Will Nesbitt of Condo Alexandria also adds, “The best time to sell is when you need to sell. The worst time to sell is when you’re trying to guess a market.”
Source: McClatchy Tribune, Kate Forgach (02/07/2010)
Record Snow at the Worldgate
Digging out at the Worldgate
Northern Virginia was buried in snow this weekend and we expect more snow tomorrow! As you can see in this picture, parts of Reston VA got more than TWO FEET of snow! At my office in Alexandria we got about 18 inches of snow.
I had to cancel all of my weekend appointments, but fortunately we had power almost all weekend. The lights were out for a few hours on Saturday night, but 200,000 people were without power for significant times on Sunday.
Showing properties
1 - 4 of 4.
See more Worldgate.
(all data current as of
5/21/2012)
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$249,900 : 2109 Highcourt Ln #305, Herndon2 beds, 2 full baths
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$250,000 : 12913 Alton Sq #306, Herndon2 beds, 2 full baths
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$269,990 : 12913 Alton Sq #107, Herndon2 beds, 2 full baths
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$225,000 : 12913 Alton Sq #108, Herndon2 beds, 2 full baths
Listing information deemed reliable but not guaranteed. Read full disclaimer.
Northern Virginia’s homes and condos for walkers
- Image via Wikipedia
Are you seeking a condo or home that is friendly to a car-free or car-lite lifestyle?
If so, you might want to check out our property search by Walkscore. Walkscore is a numeric rating of how near sites, restaurants and transit are for a given address. A Walkscore more than 70 is very walkable, while a Walkscore under 40 pretty much requires that a resident here own a car. What follows are the “most walkable” homes and condos on sale today in Northern VA.
Showing properties
1 - 5 of 256.
See more Walkables.
(all data current as of
5/21/2012)
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$789,000 : 416 Patrick St N, Alexandria4 beds, 3 full, 1 part baths
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$590,000 : 220 Cameron Station Blvd, Alexandria3 beds, 2 full, 1 part baths
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$335,000 : 1029 Stuart St N #511, Arlington1 bed, 1 full bath
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$535,000 : 315 Custis Ave E #A, Alexandria2 beds, 2 full baths
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$839,000 : 3401 15th St N, Arlington4 beds, 3 full baths
Listing information deemed reliable but not guaranteed. Read full disclaimer.
We also provide links to homes near the metro.
Burgundy — affordable single family homes near the metro
Burgundy Village is located in Alexandria VA just outside the Capitol Beltway in Fairfax County. Burgundy is nestled in a quiet dale between Franconia Road and Telegraph Road. The homes here range from humble to high-end. Most of the neighborhood was built prior to 1980, but many of the homes are newer. Burgundy Farms Country Day School is located here as well. Burgundy is very close to the Huntington Metro Station with many homes within walking distance (if you’re willing to cross Telegraph Road on foot).
Showing properties
1 - 2 of 2.
See more Burgundy Village tract real estate.
(all data current as of
5/21/2012)
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$369,900 : 5606 Eleanor Ct, Alexandria3 beds, 2 full, 1 part baths
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$409,000 : 3202 Burgundy Rd, Alexandria4 beds, 2 full baths
Listing information deemed reliable but not guaranteed. Read full disclaimer.
