Are AndresenTysons Corner Real Estate For Sale
your sixth sense in real estate
Archive for November, 2011
The “word on the street” has for a long time been that changes are coming to the area around Anderson Road. With the new Silver Line metro station coming down the street things have really started heating up. The transformation started with the old “shady” Safeway property being replaced by a wonderful new Safeway and new attached storefronts. Multiple other proposals are pending or approved (Scotts Run Station North, Scotts Run Stream Valley Parc/Mitre and at the Capital One property.)
Up next seems to be the 21 acre area currently occupied by the apartment complex The Commons. The Commons currently consists of 12 low-rise garden style apartment buildings with a total of 331 rental units.
New town home communities in the Tysons Corner area are few and far between. The last one was Tysons Reserve off Gallows Road adjacent to SAIC. Their timing was less than optimal but in the end they did manage to sell out (the new nearby condominium development was turned into apartments.) Other developments include Metro West (Pulte Homes) and Beech Grove (Stanley Martin)- both near Vienna Metro and both in the $600,000 range.
So, everyone probably remembers the 5.8 magnitude earthquake we had in the Northern Virginia area back in August this year. Even though the National Cathedral and the Washington Monument were somewhat damaged, the overall damage was limited. On the personal side, I heard of many people having drywall cracks and also a few having their water heaters shook loose or tip over with subsequent water damage (teachable moment: do not balance your water heater on a couple of bricks…)
Now, you may think to yourself that even if the quake had severly damaged your home, the homeowners insurance would cover the material damage and all would be good?
“How is the market in Tysons Corner” is a question I hear all the time. After looking at the types of sales in Fairfax Countyoverall, I decided to go a bit more into detail and look at the number of sales in Tysons Corner.
My perception has been that well priced home are in short supply – especially in the lower price ranges. I still have multiple motivated clients that I have not been able to find suitable homes for yet. They are not necessarily looking for the deal of a century – just a well kept home in a specific area.
Most landlords and residential leases in this area require a tenant to take out renters insurance during the tenancy period. To sometimes cash-strapped renters this may seem like an extra cost they don’t really need. Besides, you are paying rent – why shouldn’t the landlord take care of insurance – it is after all their home!
The homeowners fire and liability insurance covers the structure and his or her liability in case of injury. Insurance is usually required by their lender if they have a mortgage and is paid by the lender to ensure it is adequate and paid up. It is so important that in a foreclosure or short sale the lender will keep paying it even if the homeowner isn’t!
Making upgrades to your home before it is made available for sale can drastically improve your bottom line. A favorable first impression means the difference between a quick sale and a slow painful process.
To ensure a successful home sale your home has to be the best priced and most attractive house in the neighborhood. While most homeowners will see the value in fresh paint and new carpet they often forget the last few details that will make a home truly stand out.
A home where small things are not working will appear poorly maintained and will invite further scrutiny (this means more inspections and contingencies costing you time and money.)
A home with the small details in order gives an impression of a caring homeowner. Here is our list of 9 often forgotten items:
Floodplains matter. Apart from your home at risk of being filled with water it can create a lot of extra costs and headaches. Insurance rates will be higher or may be unavailable – and it could also derail a home sale or purchase. After all, if you were looking to purchase a home in a floodprone area – wouldn’t you want to know?
Looking up a flood-zone map on the Internet is not so hard anymore though. It does depend on the county and some have better tools than other. If your county does not have their own tools you can always go to the FEMA site and look at the actual FEMA map. Anyways, we are in Fairfax County so lets say I was looking to purchase a home in the Pimmit Hills subdivision in Falls Church near Tysons Corner.
As we have written about extensively the Dunn Loring Merrifield Metro area is seeing a massive redevelopment these days. From being a patchwork of new developments (Halstead at the Metro, Wilton House, Westbriar etc) and old light commercial businesses (Remington Mulch, Car repair shops, towing companies etc) it is now turning into a viable and walkable town center destination of its own.
The 15.4 acrea area adjacent to the entry of the Dunn Loring-Merrifield Metro station (at the intersection of Gallows Road and I-66) has been a low density property since the station was built consisting of at-level parking and bus stops. The residents in the area has traded the lack of any shopping around the metro for the convenience of easy access to the station.
We just listed a large 3 bedroom/2 bath at Woodburn Village right behind Fairfax Hospital (about where Gallows Road crosses I-495.) The home is almost 1,300 square foot large and has been remodelled throughout. With all the poor quality short-sales and foreclosures on the market, this one promises an easy purchase process and an immediate move-in at an affordable price.
Woodburn Village is a garden style community tucked away behind Fairfax Hospital and across the street from the Pine Ridge Park and Bo White Community Gardens.