Are AndresenTysons Corner Real Estate For Sale
your sixth sense in real estate
Archive for June, 2012
With the development of the new Silver Line metro the communities near the new metro stations are getting more popular. As Tysons Corner is a commerical area more than a residential one, the number of residential communities is limited.
In addition to the great feature of having a metro within walking distance, there are also lots of related development taking place – see our various articles on the area developments for more information.
Here is a list of some of the Tysons Corner communities that will benefit:
Based on the first five months of 2012 the Tysons Corner (Vienna and McLean) market this year will remain strong. Based on the data this year, the spring market pretty much mirrored 2011 market with the same amount of homes coming on the market. The number of closings are up some but overall I expect this year to be the same as last year. For the rest of the summer we’ll probably be at about 65 homes a month selling before things start to slow down again.
If you look at the graphs, it is obvious that sellers in Tysons Corner looove to put their homes on the market in March and April. Purchasers seems to feast on those listings and do their closings during the summer.
So, what should you do if you want to time the market? In general, buy and sell when you are ready. That being said, many will try to use the market trends to their benefit. So, here are some thoughts on using the trends to your advantage.
As a seller, to avoid the March-April rush you could try listing in January or February. That way you may take advantage of any pent-up demand from the winter months. Alternatively you could try listing in May. Your new listing will look attractive with few days on the market as compared to homes having been listed in March and April. You may also take advantage of the high number of closing sales in the June-August time frame.
If you have a choice – when should you purchase a home? You could try to get an early start on the large inventory being listed in March and April instead of joining the crowd purchasing in May-July.
Which inspections are common when buying a home in Northern Virginia? The short answer is that it varies depending on the age and type of home. In the Northern Virginia area (like Fairfax County, Loudoun County etc) the most common inspection would be a general Home Inspection. As this area also has radon, radon testing is also done regularly.
A general Home Inspectionis a great way to get an overview of the condition of the home and to identify potential trouble spots. I recommend a home inspection to all my clients (though the need for one may vary based on the type of home and the experience/knowledge of the purchaser.) The price of a home inspection will vary based on the type and size of property, but a $300-$500 range is typical. Time-wise the inspection may take an hour for a small 1 bedroom condo to 4-5 hours for a larger home (and more for mansions with a lot of complicated systems.)
Radon is prevalent in many Northern Virginia areas so a Radon Inspection/Testis often a worthwhile investment for the peace of mind it will give you and your family. A radon test may cost $150 or so and will let you know if the levels in a home are above the maximum recommended EPA level of 4.0. Some areas and homes are at a higher risk than others – particularly homes with a below grade basement and little air circulation. Remediation for radon is typically in the $700-$1400 range.
If a home has a chimney I would usually recommend a chimney inspection. A home inspector may inspect the outside of the chimney and the firebox for obvious issues, they rarely will be able to discover serious chimney issues. Chimneys issues are almost always expensive to fix and often cannot be deferred as they are safety issues. A cracked liner or leaning chimney can cost in the $10′s of thousands to replace or repair in worst case. Contrast that with a $75 to $150 inspection and you quickly see how the small upfront inspection expense is worth it.
If the plumbing in a home appears to have issues with water draining, or there is a bright green fertilized line in front of the home (could be a sign of waste line breakage), you may want to have a plumber come and inspect the waste lines with a camera. Especially in older homes the sewage line could have issues with just age or large trees having roots ripping the line apart. An inspection of the sewer lines is in the $500-$1000 so not really something buyers would do for every purchase. However, if there are signs of issues (10 roto-router stickers on the sewer cleanup may be one of them…), it may be a worthwhile investments as replacing a sewer line to the street will quickly become an issue.
The general home inspection will often identify additional areas of concern and may prompt you to get electricians, plumbers, roofers, HVAC people etc to come and do a more specific inspection.
There are multiple other inspections you will need if the home is on a well or has a septic or drainfield system, has a pool, has soil or erosion issues etc. Also, if there are oil tanks on the property (abandoned or still being used) you will likely want those checked out as well.
In closing – remember that no home is perfect. There will always be issues. However, with all the necessary inspections done you can purchase the home with the confidence of knowing what you are getting yourself into.
If you are looking to purchase a home in Northern Virginia, we can help! Call us at 703 560-3424 or contact us anytime.
We just listed a wonderful 2br/1.5bath conondominium in Woodburn Village. Open House on Sunday 6/3/2012 from 1-4pm. The market at Woodburn Village is hot these days so hurry!
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.
The garden style community itself was built in the 1960’s as apartments and converted to condominiums in the 1980’s. The community and consists of courtyards and walking paths interspersed with the four level buildings. The community has great amenities like tennis courts, basketball court, children’s play areas and an outdoor pool.