Are Andresen

Idylwood Towers

Early 1970′s condominium centrally located in the Tyson’s Corner area of Falls Church (Fairfax County).  Idylwood Towers consists of two apartment buildings with about 14 floors each. The building has concrete between the floors, and units are large compared to current building standards. Units are allowed to have their own washer and dryer.

Amenities include things like landscaped grounds, tennis courts, exercise rooms, party rooms, extra storage units and a swimming pool. Parking is by permit and is located outside. Extra storage space is also available in the basement for the individual units. Both buildings have controlled access entry with a 24 hour receptionist and security guards.

Idylwood Towers is located about 1 mile from West Falls Church metro station. Metro Bus passes the buildings frequently and you can expect a 5 minute ride to the metro. There is also a shopping area within walking distance. There you will find things like a US Post Office, Trader Joes, Whole Foods, Starbucks and other stores and restaurants.

Nearby major roads like I-66, I495 and Rt. 7 provide easy access to almost anywhere.

For Sale at Idylwood Towers

Showing properties 1 - 3 of 7. See more Idylwood Towers tract Real Estate.
(all data current as of 5/25/2013)

1. $275,000 : 2300 Pimmit Dr #805, Falls Church
   
   2 beds, 2 full baths

   Year built: 1974

   Days on market: 3
2. $205,000 : 2300 Pimmit Dr #1118, Falls Church
   
   1 bed, 1 full bath

   Home size: 862 sq ft

   Year built: 1974

   Days on market: 5
3. $225,000 : 2311 Pimmit Dr #307, Falls Church
   
   2 beds, 1 full bath

   Home size: 862 sq ft

   Year built: 1974

   Days on market: 15

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Recent Posts about Idylwood Towers

Great 1br/1ba For Sale at Idylwood Towers (sold)

The greatest value in Tysons Corner and Falls Church! We just listed a wonderful (and large ~862sq/ft) 1 bedroom 1 bath unit at Idylwood Towers. It is on the 7th floor in the east building with great views of the area.

The unit has new carpet and paint as well as updates in the kitchen and bath.

Amenities include things like landscaped grounds, tennis courts, exercise rooms, party rooms, extra storage units and a swimming pool. Parking is by permit and is located outside. Extra storage space is also available in the basement for the individual units. Both buildings have controlled access entry with a 24 hour receptionist and security guards.

[youtube]http://www.youtube.com/watch?v=25rNIdQCWPU[/youtube]

This home has sold.

Idylwood Towers consists of two apartment buildings with about 14 floors each. The building has concrete between the floors, and units are large compared to current building standards. Units are allowed to have their own washer and dryer.

Idylwood Towers is located about 1 mile from West Falls Church metro station. Metro Bus passes the buildings frequently and you can expect a 5 minute ride to the metro. There is also a shopping area within walking distance. There you will find things like a US Post Office, Trader Joes, Whole Foods, Starbucks and other stores and restaurants.

Nearby major roads like I-66, I495 and Rt. 7 provide easy access to almost anywhere.

Idylwood Towers Prices Going Steady

The market activity at Idylwood Towers slowed this year with prices remaining flat.  There were 16 homes sold in 2012 – down from 22 in 2011.  The lowest price was a junior 1br/1ba at $135,000. The highest price was a 3br/2ba property at $300,000.

As of today there are 6 homes listed for sale ranging in price fro $188,000 for a 1 bedroom to $349,000 for a 3 bedroom/2bath. You can see the homes currently for sale here.

To get a better understanding of the overall price curve in the neighborhood we can take a look at the sales history of the various models.

The average sales prices did go up in 2010 (one bedrooms went up about 5% and two bedrooms about 8%.) That could have been a temporary bump due to the home buyer credit though. Prices for 2011 and 2012  have gone back to 2009 levels. The flat prices and few sales indicate that Idylwood Towers just isn’t that hot right now with purchasers despite the overall strengthening of the real estate market.

Moving on to better news – rentals. The rents keep going up this year. 32 properties rented in 2012, compared to 28 properties rented in 2011. There are currently 6 properties listed for rent ranging from a 1br/1ba listed at $1,575 to a 3br/2ba listed at $2,100. As can be seen on the below graph the rents have been increasing nicely the last few years.

Idylwood Towers is a great place to call home and the prices are still low. Coupled with low interest rates and rising rents this is a great time to buy. If you would like to discuss selling or purchasing in Idylwood Towers, please give us a call at 703 560-3424 or contact us online.

Are Andresen
Broker, Soldsense Realty LLC
“Your sixth sense in real estate”

Disclaimer: The data above is not guaranteed in any way and may contain errors and omissions and is based on MRIS data only. The analysis is my opinion only – always do your own research.

Local Falls Church/Idylwood History For Sale

At a recent walk off Idylwood Road in Falls Church I found a “hidden” old cemetery. It is about 1 acre and is nicely located on a hill and “landlocked” between the Ruckstuhl park and the newer development on Colonel Lindsay Ct. I doubt more than a few of the most immediate neighbors are aware of the graveyard. 

Local history is always interesting – it is amazing how quickly those who lived here before us are forgotten. This graveyard appears to have been the family graveyard of the Lindsay family that are original landowners in the area. “The Mount” on adjacent 2312 Colonel Lindsay Court dates back to circa 1766 and is listed as a Fairfax County historic site. The property is currently listed for sale for $725,000 as a short-sale (the listing says the original build date is 1743 – must have been renovated as the home currently has a double garage.)

Fairfax County has a website listing cemeteries (including old family ones) at http://www.fairfaxcounty.gov/library/cemeteries/Default.aspx 

“This one acre square cemetery was located next to “The Mount,” built by Col. ROBERT LINDSAY. New homes have been built on the surrounding property. A 1975 survey found 14 headstones. A 1989 visit recorded only 13 headstones, two having been installed since 1975. The three oldest stones were no longer on site. On the most recent visit (1994) only 12 headstones were found. The site is marked by six large holly trees and enclosed by a dilapedated wire fence. The iron gate was padlocked. ”
( http://www.fairfaxcounty.gov/library/cemeteries/Cemetery.aspx?number=FX056 )

Don’t Wait For Spring To Sell Your Home!

The Tysons Corner(Vienna and McLean) real estate market ended 2012 strongly. While the number of homes being listed remained typical, the number of sales in October and November jumped significantly. The continued availability of low interest rate loans no doubt played a role as did the strong economy in the area.

Looking at the graphs it is obvious that sellers in Tysons Corner prefer 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.

In general we advice to 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 your home in January or February. That way you may take advantage of any pent-up demand from the winter months. Currently homes (and condominiums in particular) in Tysons Corner are selling very well – multiple offers are not uncommon. The main thing holding prices at the current levels would be the conservative  appraisals.

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.

Every situation is different and the above may or may not apply to you. We know the Tysons Corner area and we would love to talk to you about how we can help you buy or sell a home.

Great 2br/2ba Condo For Sale Near Tysons Corner

We just listed a great 2br/2ba condominium unit at Idylwood Towers in Falls Church. It is facing south on the 7th floor of the east building with balcony,extra storage and replaced windows/balcony door. There is new carpet, paint and dishwasher and is ready to move right in.

Idylwood Towers is a great 1970’s condominium centrally located in the Tyson’s Corner area of Falls Church (Fairfax County.) Idylwood Towers consists of two apartment buildings with about 14 floors each. The building has concrete between the floors, and units are large compared to current building standards. Units are allowed to have their own washer and dryer.

view from balcony of unit

Amenities include things like landscaped grounds, tennis courts, exercise rooms, party rooms, extra storage units and a swimming pool. Parking is by permit and is located outside. Extra storage space is also available in the basement for the individual units. Both buildings have controlled access entry with a 24 hour receptionist and security guards.

Idylwood Towers is located about 1 mile from West Falls Church metro station. Metro Bus passes the buildings frequently and you can expect a 5 minute ride to the metro. There is also a shopping area within walking distance. There you will find things like a US Post Office, Trader Joes, Whole Foods, Starbucks and other stores and restaurants.

No Christmas Tree For You!

With the holiday in full swing, everyone may not be aware of the Virginia Statewide Fire Prevention Code that says:

It is unlawful to place natural cut trees, including Christmas trees, and artificial decorative vegetation, if the decorative vegetation is not flame retardant or flame-resistant, in condominiums, cooperatives and other similar occupancies unless the buildings have approved automatic sprinkler systems.

That means that if you live in a condominium, and it does not have a sprinkler system, natural Christmas trees and wreaths are not allowed. Some town homes are considered condominiums and would be covered also.

Idylwood Towers 2013 Condominium Fees

Condominium fee increases are as certain as  death and taxes. So, it is therefore no surprise that the condominium fees at Idylwood Towers in Falls Church is going up yet again in 2013.  The 2013 fees are a 1.75% increase from 2012.

The new fees are as follows:

Jr 1 br – $441.00
1 br – $559.00
2 br – $741.00
3 br/2ba – $887.00
3br/3ba – $923.00

Keep in mind that the condominium fee at Idylwood Towers include all utilities and great amenities like a 24 hour manned front desk, swimming pool, gyms, party rooms, storage rooms, tennis courts, basketball court and expansive planted grounds.

If you are interested in Idylwood Towers, please contact us – we know the buildings very well.

Homes For Sale Near the Bike Trail in Falls Church and Arlington

The extensive network of bike paths in the Northern Virginia area is a gift many appreciates. Paths like the Washington and Old Dominion Trail(W&OD), Custis Trail and Mount Vernon trail are all very popular with bikers, runners, walkers and rollerbladers of  all ages. 

On a typical morning the trails will be full of residents doing their morning jog and commuters using the trails to get in from the suburbs to work in areas like Tysons Corner, Arlington and Washington DC. On the weekend large groups of bikers and joggers will take over the trail interspersed with families out for some family fun.

As sidewalks and wide roads may be lacking in many areas, there is a great demand for homes within a reasonable distance to the trails. Below are some of the available homes that may be close to the W&OD trail in Fairfax and Arlington.

Showing properties 1 - 15 of 32. See more Homes close to the Bikepath.
(all data current as of 5/25/2013)

1. $279,000 : 2446 Oxford St, Arlington
   
   3 beds, 1 full bath

   Home size: 1,122 sq ft

   Lot size: 3,203 sqft

   Year built: 1945

   Days on market: 2
2. $899,000 : 815 Wakefield St, Arlington
   
   4 beds, 2 full, 1 part baths

   Lot size: 10,750 sqft

   Year built: 1981

   Parking spots: 2

   Days on market: 6
3. $579,900 : 1404 Buchanan St, Arlington
   
   4 beds, 2 full baths

   Lot size: 6,000 sqft

   Year built: 1951

   Days on market: 7
4. $395,000 : 2687 24th Rd S, Arlington
   
   3 beds, 3 full baths

   Home size: 1,120 sq ft

   Lot size: 2,987 sqft

   Year built: 1999

   Parking spots: 1

   Days on market: 8
5. $344,000 : 3612 Kemper Rd, Arlington
   
   3 beds, 2 full baths

   Lot size: 2,529 sqft

   Year built: 1945

   Days on market: 9
6. $689,900 : 952 Lebanon St, Arlington
   
   3 beds, 2 full baths

   Home size: 1,800 sq ft

   Lot size: 6,937 sqft

   Year built: 1947

   Days on market: 9
7. $630,000 : 866 N. Arlington Mill Dr, Arlington
   
   3 beds, 3 full baths

   Home size: 2,200 sq ft

   Lot size: 9,089 sqft

   Year built: 1953

   Days on market: 11
8. $640,000 : 112 Galveston St N, Arlington
   
   3 beds, 3 full baths

   Home size: 1,612 sq ft

   Lot size: 9,623 sqft

   Year built: 1948

   Days on market: 11
9. $135,000 : 1511 George Mason Dr #3, Arlington
   
   1 bed, 1 full bath

   Home size: 687 sq ft

   Year built: 1965

   Parking spots: 1

   Days on market: 12
10. $715,000 : 858 Lebanon St, Arlington
    
    4 beds, 3 full, 1 part baths

    Home size: 2,900 sq ft

    Lot size: 6,679 sqft

    Year built: 1954

    Days on market: 14
11. $307,500 : 4500 Four Mile Run Dr S #518, Arlington
    
    2 beds, 2 full baths

    Home size: 1,150 sq ft

    Year built: 2005

    Parking spots: 4

    Days on market: 15
12. $1,149,450 : 4717 S, 8th Rd, Arlington
    
    5 beds, 4 full, 1 part baths

    Home size: 4,010 sq ft

    Lot size: 6,250 sqft

    Year built: 2013

    Parking spots: 2

    Days on market: 15
13. $399,000 : 6940 Fairfax Dr N #302, Arlington
    
    2 beds, 2 full baths

    Home size: 986 sq ft

    Year built: 1995

    Parking spots: 2

    Days on market: 16
14. $329,900 : 2447 Oakland St S, Arlington
    
    2 beds, 2 full baths

    Lot size: 2,760 sqft

    Year built: 1945

    Days on market: 17
15. $309,000 : 4500 Four Mile Run Dr S #314, Arlington
    
    2 beds, 2 full baths

    Home size: 1,152 sq ft

    Year built: 2005

    Parking spots: 1

    Days on market: 18

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Slow Summer at Idylwood Towers

The market activity at Idylwood Towers has slowed a lot this year.  The prices are also continuing to go down (apart from a small bump in 2010.)  There were 22 homes sold in 2011 – up to this point only 7 homes have sold this year  (8/17/2012.)  The lowest price was a junior 1br/1ba at $135,000. The highest price was a 2br/2ba property at $222,000 (that asked $250,000 initially…)

As can be seen by the graph to the right, the percentage of distressed sales seems to have gone up again this year (due to the small number of distressed sales it can’t really be relied on as a trend though.)

As of 8/17/2012 there are 4 pending sales at Idylwood Towers. One is a short sale.

Four homes are currently available for sale in Idylwood Towers. They range in price from a junior 1-bedroom home at $163,000 to a 2-bedroom home listed at 229,000. You can see the homes currently for sale here.

To get a better understanding of the overall price curve in the neighborhood we can take a look at the sales history of the various models.

The average sales prices did go up in 2010 (one bedrooms went up about 5% and two bedrooms about 8%.) That could have been a temporary bump due to the home buyer credit though. It seems the prices for 2011 and 2012 (YTD)  are going back to 2009 levels and below. Falling prices and few sales indicate that Idylwood Towers just isn’t that hot right now with purchasers.

Moving on to better news – rentals. The rents keep going up this year. 16 properties rented year to date in 2012, compared to 28 properties rented in 2011. There is currently only 1 property listed for rent – a 1br/1ba listed at $1575. As can be seen on the below graph the rents have been increasing nicely the last few years.

For investors the GRM has gone down as expected due to increasing rents and lower prices. This should make the community more attractive to investors. It may also make it more attractive for some owners to rent out the home as opposed to selling.

Idylwood Towers is a great place to call home and the prices are still low. Coupled with the low interest rates this is a great time to buy. If you would like to discuss selling or purchasing in Idylwood Towers, please give us a call at 703 560-3424 or contact us online.

Are Andresen
Broker, Soldsense Realty LLC
“Your sixth sense in real estate”

Disclaimer: The data above is not guaranteed in any way and may contain errors and omissions and is based on MRIS data only. The analysis is my opinion only – always do your own research.

What Condos in Fairfax County Are FHA Approved?

FHA financing is a popular type of financing in Fairfax County these days. From being unable to compete with the 0% down loans back in 2005 and 2006, they are now a part of over 20% of the purchases in the area.

The 3.5% down payment required is very competitive with the 10% minimum required from most other lenders. Also an FHA loan will allow you to receive the down payment as a gift in many cases (from your children or parents etc) - a useful feature for cash strapped purchasers.

Unfortunately, some purchasers run into problems with their FHA financing. Finding out that the condominium you fell in love with is ineligible for FHA financing results in disappointment, lost time and money. How can a purchaser avoid this situation ahead of time?

FHA financing is not available for all communities. To be eligible a condominium community will have to meet minimum criteria for things like insurance, owner occupancy, ownership and commercial usage. An occuring issue in Tysons Corner is that some communities have too high of a ratio of non-owner occupants(renters) to owner-occupants. A community that has more than half the units occupied by renters will in most cases be ineligible for FHA financing. That has been the case at the Gates of McLean and the Fountains at McLean.

Your real estate agent should know the local market and should be able to help you find out which communities may be troublesome in regards to FHA financing. The agent may know the status of a specific condominium based on experience or through conversations with lenders.

Your agent (or you) can also use online tools like https://entp.hud.gov/idapp/html/condlook.cfm to try to ascertian the approval status.

Per the online tool, these communities may* be FHA approved: Falls Church Gardens, Renaissance 2230, Idylwood Towers,  The Gates of Westfalls, The Pavillion, The Regency, The Palladium, Lillian Court, One Park Crest, The Colonies, The Rotonda, The Westerlies, Park Terrace, Vienna Trail, Westbriar Plaza, Westwood Village, Woodburn Village

Some communities that may not* be FHA approved at this time: McLean House North, Gates of McLean, Fountains at McLean

*The list of communities are in no way guaranteed and may not be correct. Keep in mind that being an FHA approved community can change – and sometimes your transaction will be the one that alerts the FHA to changes in the ownership ratio or other issues. There is no way to know for sure until a lender has processed your loan and received the official FHA approval for your mortgage. Sometimes different phases within the same community(or what appears to be the same community) may have different approval results as well.

If you are looking to purchase a condominium in the Tysons Corner area, please give us a call at 703 560-3424 or contact us. We will be happy to discuss the various options with you and help you find a great home!