Are AndresenTysons Corner Real Estate For Sale
your sixth sense in real estate
Archive for April, 2011
The market activity at the Fountains at McLean in Tysons Corner has been slow so far in 2011. The community is still affected by a high investor ratio making a 20% down payment likely.
There are three pending sales at this time (two of which are short-sales that may or may not go to closing.)
Here are the 4 sales that have taken place this year so far:
The trees are everywhere in Northern Virginia. And people keep planting them to provide shade, for decorative purposes and to provide a home for birds and other wildlife. During its lifespan, a tree does require regular care and maintenance though. And, with homes being built closer and closer together, conflicts related to trees and plants (Ivy and Bamboo among others) are very common.
I have been curious about this topic and decided to look into what others say about liability for damage caused by trees and plants. For example, are you as an owner always responsible for any damage happening to your property from trees and plants – even if a tree or plant is not on your property?
Sales at the Gates of McLean have been slow this year with less than two sales per month on average. Apart from the 6 sold units, there are 5 for sale and three pending so the market seems to be picking up.
With the Tysons-McLean metro station coming, many owners choose to keep their units and put them up for rent.
As a result, the investor ratio has typically hovered in the 50-55% range and financning is still a bit of a challenge (i.e. for owner-occupants a 20% down payment is typically required from the lenders that do lend in the community.)
After the earlier post I did about a possible secret path to the West Falls Church Metro, I found some additional information that may explain things.
I was looking into the details on Phase Two of the Bicycle Master Plan for the greater Tysons Corner area when I recalled the question about an upgrade to a supposed shortcut to the metro. The plan includes a multitude of information and maps an on one of those there appeared to be marked plans for a new bike path going through or adjacent to the rail yard!
The “rail yard path” is designated as as a Secondary Shared Use Path and there are access improvements planned at the end of Redd Rd as well as various streets throughout Pimmit Hills. Unfortunately, I could not find any more specifics on the planned path as it mainly focused on the areas adjacent to the new metro stations.
(During the digging I did find some plans from 2003 for two different suggested paths, one ow which appears similar to the one above.)
With only 10 active homes and a full 12 homes pending the market in Pimmit Hills is heating up for the spring! While January was slow for sales this year (snow and cold temperatures), the activity has really picked up the last months.
If you are looking to purchase in Pimmit Hills in Falls Church you are likely curious about what similar units have sold for in the past. So, here is the 2011 MRIS sold data for Pimmit Hills YTD (the list does not include seller subsidies, if any): Read the rest of this entry »
Startup Adzookie is looking for homes to paint. After turning your home into a giant billboard they will pay your mortgage as long as your home remains painted.
Seems like a great idea to generate buzz for their company and other advertising services. They have supposedly received over 1000 applications wanting their pie of a limited $100,000 budget for the campaign.
In our area many homeowners will likley run into issues with county zoning and/or HOA covenants.
FHA has raised the monthly mortgage insurance yet again. While the previous mortgage insurance amount was 0.55% early in 2010 it is now 1.15%. That is more than a doubling in one year (it was 0.9% for a while in between too.)
FHA has steadily increased the market share of mortgages from 4% in 2006 to almost 20% in 2010. With an increase in foreclosures (as well as the greater market share) the FHA reserves have decreased steadily. This has made it necessary to increase the FHA mortgage insurance premiums. Read the rest of this entry »
After being caught up in the real estate market slowdown, things have slowly started to happen again at MetroWest. Originally planned for a 2007 site work start and condo and townhome occupancy slated for 2008, the developer Pulte fell a bit behind schedule due to the slowing real estate market.
While sales have not yet started and the scope of the current project is a bit unclear (the original project website hasn’t been active for years), site work has commenced and Pulte has set up a new webpage for the community this week (dated 4/18/2011.)
If you are looking to purchase at Turnberry Tower in Rosslyn/Arlington you are likely curious about what similar units have sold for in the past. So, here is the 2010-2011 MRIS sold data for Turnberry Tower (the list does not include seller subsidies, if any): Read the rest of this entry »
The area between the Dunn Loring/Merrifield metro and down to Rt 50 is seeing a lot of change these days. Apart from the development around the metro station itself, the area off Rt 29 and Gallows is unrecognizable. Gone are the gas stations, the repair shop with the gnomes(Jonston’s Garage), Taco Bell and the car towing company. While I do miss the Taco Bell at times, some may say that even the current flat-scape is better than what was before…
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