Are Andresen

Pimmit Hills

Pimmit Hills is ideally located in Falls Church minutes from where you want to be. Minutes to the north is Tysons Corner with great shopping and entertainment. It is also one of the major employment centers in the area with major presence of financial and defence companies (Capital One, SAIC, MITRE, Fannie Mae etc.)

Pimmit Hills is further surrounded by popular destinations like McLean and Falls Church. Washington DC is less than 10 minutes away and Dulles airport is about 15 away via the Dulles Toll Road (Rt 267.)

If you don’t like driving, metro is available at West Falls Church and East Falls Church stations. A new metro line is also scheduled to go through Tysons Corner.

Built in the 1950’s, the 1,500+ single family homes typically have a quarter acre lot. Home prices range from the low $300’s for a rambler with 3 bedrooms and 1 bathroom and upwards to $1M homes. In Pimmit Hills there is a home for everyone!

For Sale in Pimmit Hills

Showing properties 1 - 3 of 12. See more Pimmit Hills tract real estate.
(all data current as of 5/19/2012)

1. $489,900 : 1905 Cherri Dr, Falls Church
   
   3 beds, 2 full baths

   Home size: 1,412 sq ft

   Lot size: 10,010 sqft

   Year built: 1953

   Days on market: 1

   Walk Score®: 46
2. $479,900 : 1839 Peabody Dr, Falls Church
   
   4 beds, 3 full baths

   Home size: 884 sq ft

   Lot size: 10,653 sqft

   Year built: 1953

   Days on market: 15

   Walk Score®: 55
3. $409,900 : 2008 Hileman Rd, Falls Church
   
   3 beds, 2 full baths

   Lot size: 10,010 sqft

   Year built: 1954

   Days on market: 17

   Walk Score®: 46

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

Recent Posts about Pimmit Hills

Great 4br/2ba Rental Minutes From Tysons Corner

Great 4 bedroom, 2 bath single family home with wonderful sunroom/breakfast room that opens out into large, flat, private fenced in backyard. Washer and dryer in home. Ample parking on driveway or on the street. There is no HOA in the community. Pets are on a case-by-case basis in a smoke-free home. HOME IS AVAILABLE MAY 1.

Pimmit Hills is ideally located in Falls Church minutes from where you want to be. Minutes to the north is Tysons Corner with great shopping and entertainment. It is also one of the major employment centers in the area with major presence of financial and defence companies (Capital One, SAIC, MITRE, Fannie Mae etc.)

Built in the 1950’s, the 1,500+ single family homes typically have a quarter acre lot. Pimmit Hills is further surrounded by popular destinations like McLean and Falls Church. Washington DC is less than 10 minutes away and Dulles airport is about 15 away via the Dulles Toll Road (Rt 267.)

If you don’t like driving, metro is available at West Falls Church and East Falls Church stations. A new metro line is also scheduled to go through Tysons Corner.

We're sorry, but we couldn't find MLS # FX7783537 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

Prices and Rents are Up in Pimmit Hills in Tysons Corner!

Real estate in the Pimmit Hills subdivision in Falls Church did great in 2011. Over 50 homes sold during 2011 and at a higher “similar home average” than in 2010!  The increase in prices is not that significant but the trend seems clear – prices have stabilized and are slowly increasing (graph later in this post.)

So, is the turnaround in prices here to stay? Are there still forclosures and short sales in the pipeline? And how long is the typical home taking to sell this year as compared to last year? Read on and you will get the information needed to answer those questions!

The percentage of distressed sales (foreclosures and short sales) have been in the 25%-35% range the last few years in Pimmit Hills. In 2011 the percentage of distressed sales is down to 18%. That is a great thing for homeowners in the community. It does also look like foreclosures were replaced with short sales in 2011with 7 short sale closing and only two foreclosures.

For 2011 the lowest price sale was a 3br/1ba home at $280,000. The highest price was a 7br/5.5ba newer home that sold for $890,000. The average price for all homes sold was up from $391,208 in 2010 to $411,889 in 2011.

In 2009, homes on average sold for 96.8% of the original list price and 101.1% of the final list price.

In 2010, homes on average sold for 98% of the original list price and 99% of the final list price.

In 2011, homes on average sold for 94.6% of the original list price and 97.4% of the final list price.

Tip: If you are looking to purchase in Pimmit Hills there is often room to negotiate on the price.

There are 6 pending home sales in Pimmit Hills as of 1/19/2012 with asking prices on those properties in the $294,900-$779,900 range. Three are short-sales and three are normal sales.

The average days on market in 2009 was about 60, in 2010 just 26 and in 2011 about 64 days again. There is a high demand for homes in Pimmit Hills but they do take longer to sell in 2011 than in 2010. The higher number of short sales could account for some of the difference in price – but even without the short sales the days on market the average time for a home to sell is still above 50.

Tip: If you are looking to sell in Pimmit Hills make sure you don’t overprice. Homes take longer to sell and time is money.

8 homes are available for sale in Pimmit Hills as of 1/19/2012. The lowest priced one is a 3br/2ba listed at $379,000 and the highest is priced is a 8br/8.5ba  at $1,299,000. All of those properties are regular resales. You can see what is currently for sale in Pimmit Hills here.

To get a better understanding of the overall price level in the neighborhood we need to compare apples to apples. I have therefore tracked sales of the 884 sq/ft 3br/1ba 1 level ramblers in the neighborhood over the last couple of years. Keep in mind – some of these homes may have family room extensions in the back (most add a second bath in those cases though) or could be completely updated. We have tried to exclude homes with rear extensions, basements, attached garages etc.

Our “similar home average” makes it much easier to see what the price trend is in the neighborhood. Otherwise the mix of homes sold would continuously skewing the min, max and average sales price.

As you can see from the above graph the prices have been pretty stable since 2009. This year prices have been going up for the first time since 2005!  It is not a big increase but with the national trends for real estate and jobs any increase is great news.

The Tysons Corner area is seeing a great transformation and Pimmit Hills will continue to be the best deal for single family homes in the area.

Moving on to rentals the prices have started creeping up slowly after having been pretty flat over the last few years. This year the rents seems to have jumped significantly. There are currently only 2 properties listed for rent ranging from $1750 for a 3br/1ba to $5,600 for an 8br/8.5ba home (that is also for sale.)

The number of rentals this year is way down – only 18 homes rented in 2011 versus 41 in 2010. This reduced supply may account for the sharp increase in rents (the limited number of homes sold this year makes the 2011 rent statistics a bit unreliable.) It is unclear why the number of units rented were so low this year. Maybe tenants sign longer leases and stay longer in their homes with rents going up everywhere else?

For investors the GRM has been getting better and better since 2005. As the prices stopped going down in 2010  the rents have started creeping up. That has kept making the Gross Rent Multiplier better every year since 2005. Investors are buying in the neighborhood – especially foreclosures and tear-downs. 

The Gross Rent Multiplier for Pimmit Hills. A lower number means that the ratio of rent is higher relative to the purchase price (which typically gives a better return.)

Pimmit Hills is a great neighborhood in a fantastic location. Interest rates and prices are both still low. If you would like to discuss selling or purchasing in Pimmit Hills 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.

Is Your Fairfax County Home In A Floodplain?

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.

The home I was looking to purchase happened to be on Pimmit Court.  Pimmit Court is a cul-de sac that backs up against the Pimmit Run stream (much of which is underground past Leesburg Pike.) Some of the lots on that street are pretty low lying and it would seem reasonable to think that there could be an issue. How would I know though?

First place to go would be the Fairfax County website and their look up tool at  http://www.fairfaxcounty.gov/gisapps/myneighborhood/myndefault.aspx

By selecting the FEMA-SFHA from the Available Map Types and typing in an address I get a map similar to this:

Hmmm. As per the map above some of the properties and also some of the structures are certainly in the floodplain. If I was purchasing a home and the home was covered in green above I would probably:
a) Give my lender a call and explain my concern
b) Give my insurance company a call and explain my concern
c) See if flood insurance was available and at what cost

Being in a flood-zone may not mean the end of a transaction – often homes in flood zones have gorgeous lots backing up to normally quiet streams or rivers. You just have to weigh the otherwise potential premium lot against the likely extra cost of flood insurance – if it is available.

Apart from being in a floodplain, there are other related issues too. Your home could be in a dam inundation zone or in a RPA – both could have significant impact on your insurance rate, use of the property and also on the value of your home.  See the earlier article on Resource Protect Areas (RPA.)

Lots of things to keep track of – so if you are looking to buy or sell I would recommend you have a real estate agent on your side to help figure these things out!

2011 Pimmit Hills Sales and Rentals – What is Going On?

Real estate in the Pimmit Hills subdivision in Falls Church is doing well this year.  Up to this point in 2011 (10/5/2011) 40 homes have sold as compared to 50 homes the whole of 2010. Does the encouraging activity translate in to higher pricer? Has the ”double dip” in mortgage rates and the struggling stock market made a difference? Are there still forclosures and short sales in the pipeline? And how long is the typical home taking to sell this year as compared to last year? Read on and you will get the information needed to answer those questions!

The percentage of distressed sales (foreclosures and short sales) have been in the 25%-35% range the last few years. In 2011 the percentage of distressed sales is down to 15%. That is a great thing for homeowners in the community. It does also look like foreclosures are being replaced with short sales this year.

For 2011 YTD, the lowest price sale was a 3br/1ba home at $280,000. The max price was a 5br/3.5ba newer home that sold for $737,500. The average price for all homes sold was about the same – down slightly from $391,208 in 2010 to $390,433 in 2011.

In 2009, homes on average sold for 96.8% of the original list price and 101.1% of the final list price.

In 2010, homes on average sold for 98% of the original list price and 99% of the final list price.

In 2011, homes on average sold for 94.5% of the original list price and 97% of the final list price.

If you are looking to purchase in Pimmit Hills there is often room to negotiate on the prices.

If you are looking to sell, make sure you don’t overprice even though the market is still good.

There are 12 pending home sales in Pimmit Hills as of 10/5/2011 with asking prices on those properties in the $299,000-$974,888 range. One is a foreclosure, six are normal sales and five are short sales.

The average days on market in 2009 was about 60, in 2010 just 26 and in 2011 about 60 days again. There is a high demand for homes in Pimmit Hills but they do take longer to sell in 2011 than last year.

10 homes are currently available for sale in Pimmit Hills as of 10/5/2011. The lowest priced one is a 3br/2ba listed at $329,900 and the highest is priced is a 8br/b.5ba (!) at $1,349,900. One of those 10 is a foreclosure and one is a short sales. You can see what is currently for sale in Pimmit Hills here.

To get a better understanding of the overall price level in the neighborhood we need to compare apples to apples. I have therefore tracked sales of the 884 sq/ft 3br/1ba 1 level ramblers in the neighborhood over the last couple of years. Keep in mind – some of these homes may have family room extensions in the back (most add a second bath in those cases though) or could be completely updated. We have tried to adjust for extension etc. Nevertheless, it makes it much easier to see what the trend is as the mix of homes sold continuously changes skewing the min, max and average sales price.

As you can see from the above graph, the prices appear to have stabilized and even picked up a little. This despite the doubling of days it takes to sell a home.

Moving on to rentals the prices have started creeping up slowly after having been pretty flat over the last few years. This year the rents seems to have jumbed significantly.  There are currently only 2 properties listed for rent ranging from $1750 for a 3br/1ba to $5,600 for an 8br/8.5ba home (that is also for sale.)

The number of rentals this year is way down – only 13 homes have rented YTD versus 41 the whole of last year. This reduced supply likely accounts for the increase in rents.

For investors the GRM has been getting better and better since 2005. As the prices have declined rents have finally started creeping up. Investors are buying in the neighborhood – especially foreclosures and tear-downs.

The Gross Rent Multiplier for Pimmit Hills. A lower number means that the ratio of rent is higher relative to the purchase price (which typically gives a better return.)

Pimmit Hills is a great neighborhood in a fantastic location. Interest rates and prices are both still low. If you would like to discuss selling or purchasing in Pimmit Hills 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.

Falls Church Pimmit Branch Post Office Closing

The USPS Pimmit Branch in the shopping center at Idylwood Plaza, while small, has had a loyal following. A very convenient location for residents in the area from the various rental communities like Peachtree and well as Pimmit Hills and beyond.

However, due to its small size and hidden away location, the usage was never really that large (we did have lines of people after the 1 hour midday closure was added a few years back.)

The last few years the location was repeatedly on the list for possible closures multiple times and the writing was sort of on the wall. With the USPS mail volume and profit down significantly, consolidations and closures have been inevitable. Also, taking away the stamp machine for after hours usage and the limited opening hours really never gave the location any chance to rebound.

The branch is scheduled to close on November 10, 2011. For mailbox holders alternative sites is the one downtown Falls Church on Broad Street or the main post office in Merrifield. There is also a very small post office at Dunn Loring on Gallows Road – for now…

A Secret Path To West Falls Church Metro Revisited

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.)

When will we get to use this new shortcut?  Phase one is scheduled for 2011-2013 and Phase 2 (which the rail yard path is part of) is scheduled for 2012-2016.  It is likely subject to finding the funding - I wouldn’t go out getting that new bicycle just yet!

Pimmit Hills Sold Prices In 2011

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):

Some Notes:
7301 Pimmit Court finally sold in March. It had been listed for 518 days and finally sold for 280,000. The property was in the RPAby Pimmit Run (it may have had other issues too.)

The home on 7737 Lisle Avenue also finally sold after 178 days on the market. It was a regular resale and looks nice from the outside. After having asked for $350,000 it ended up selling for $315,000 cash. Biggest drawback was likely its close proximity to Rt 7 and I-495.

If you are thinking about purchasing in Pimmit Hills and would like additional sales information, please contact us. We will be happy to help you find a great home at a great price.

Redevelopment at Tysons-McLean Metro/Scotts Run Stream Valley Park

As part of the Comprehensive Plan for Tysons Corner Urban Center, Cityline Partners has sought rezoning for about 40 acres of land (adjacent to the  Northrop Grumman/Mitre buildings) across the street from the new Tysons-McLean metro station.

The plans  call for a mix of office, residential, hotel, retail and civic uses similar to what has been planned across the street on the land owned by Capital One.

Cityline’s development master plan scenario includes long-term development of 21 new buildings totaling approximately 8.5 million GSF:
• 11 office buildings totaling approximately 4.9 million GSF
• Nine multifamily residential buildings creating 2,812 new multifamily dwelling units(expected to house almost 5,000 new residents.)
• One full-service hotel
• Ground-level retail space in many of the buildings totaling approximately 120,000 GSF

An important part of the redevelopment is Scotts Run Stream Valley Park that could be revitalized and enhanced with elevated walkways, stream stabilization and the addition of public open spaces.

At Scotts Run Station North (on the north side of Rt 123 next to the new Tysons-McLean metro station and the Gates of McLean) two new residential buildings have been planned. There is the possibility a federal agency will be located there instead.

2011 Pimmit Hills Real Estate Prices

The graph above shows the avergae sales price for a 1 level 3br/1ba home. We have tried to take out properties with extensions etc.

Sales in Pimmit Hills have kept up pretty well in the first months of 2011. A total of ten homes have sold up until today, ranging in price from $280,000 to $480,000.  Nine out of the ten homes sold were under $400,000, so it is the lower end that is selling.

If you look at the graph to the right you will see that prices reached the peak in 2005/2006 and started stabilizing in 2008 again. The graph is for the standard 3/1 rambler (884 sq/ft) and we have tried to take out the ones with additions etc.

There is a great selection of homes available currently. With the 15 active listings and 7 pending contracts we have about a 2 months supply.

For Sale in Pimmit Hills

Showing properties 1 - 5 of 13. See more Pimmit Hills tract real estate.
(all data current as of 5/19/2012)

1. $489,900 : 1905 Cherri Dr, Falls Church
   
   3 beds, 2 full baths

   Home size: 1,412 sq ft

   Lot size: 10,010 sqft

   Year built: 1953

   Days on market: 1

   Walk Score®: 46
2. $479,900 : 1839 Peabody Dr, Falls Church
   
   4 beds, 3 full baths

   Home size: 884 sq ft

   Lot size: 10,653 sqft

   Year built: 1953

   Days on market: 15

   Walk Score®: 55
3. $409,900 : 2008 Hileman Rd, Falls Church
   
   3 beds, 2 full baths

   Lot size: 10,010 sqft

   Year built: 1954

   Days on market: 17

   Walk Score®: 46
4. $519,900 : 2016 Nordlie Pl, Falls Church
   
   4 beds, 3 full baths

   Lot size: 11,429 sqft

   Year built: 1952

   Parking spots: 1

   Days on market: 22

   Walk Score®: 55
5. $450,000 : 1914 Cherri Dr, Falls Church
   
   3 beds, 2 full baths

   Lot size: 10,874 sqft

   Year built: 1953

   Days on market: 23

   Walk Score®: 51

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

What “RPA” means and why you should care

If you are planning to buy or renovate a home, RPA may be something that will impact you and the value of your home more than you expect.  A Resource Protection Area (RPA) is created to limit development around water bodies with perennial flows. The goal is to improve the health of the Chesapeake Bay and its tributaries through limited development.

The Chesapeake Bay Act has been around for a while and most purchasers do know that development potential is limited around streams, lakes and rivers in Fairfax County. However, in 2003, the regulations were amended and further restrictions were put in place. The definition of what was covered under the act was changed from “tributary streams” to ”water bodies with perennial flow”. The result was that a large number of new areas and homes were affected.

The most obvious impact on homeowners are limitations on the use of a property and a resulting loss of value. If you are in a RPA, you are possibly subject to limitations on decks, sheds, fences, extensions on your home and many landscaping projects.

For example, if your home is in an RPA and you want to build an extension to your home :

For those lots that have areas of RPA on them, the ordinance provides relief from the full effects of the RPA restrictions through the administrative waiver provisions. The provisions allow minor additions of up to 1,000 sq. ft. or 2 percent of the lot area up to a maximum of 2,500 sq. ft. of new impervious area in the RPA for homes constructed prior to the original effective date of the ordinance, July 1, 1993, with respect to both the old and new RPA areas. For homes that were constructed between July 1, 1993, and the effective date of the 2003 amendments, Nov. 18, 2003, minor additions are only allowed to encroach into the new RPA areas created by the amendments. This relief is provided to the current owners of these homes because the regulations were not in effect at the time the homes were built and the original builders did not have the opportunity to plan the location of these homes to avoid future conflicts with the RPA.

The state regulations on which the county’s ordinance is based do not permit detached structures to be treated as minor additions. The construction of detached structures and larger additions in the RPA are still possible, but would be subject to an exception process requiring a public hearing.
(from the Fairfax County brochure on RPAs)

For information on landscaping, fences, sheds and decks look at the brochure link above.

Determining if your home is in an RPA is therefore very important. One tool to do that would be to use the online Digital Map Viewer for Fairfax County - you select the “Chesapeake Bay Map” and then pick the Tax Map number for your property. You can find the tax map number by looking at the two first numbers of the tax-id for the property in the county tax records. With the correct map you will have to zoom in to find your property and determine if it is in one of the RPAs, if it is then 1993 or the 2003 RPAs and what effect that has on the specific property (see the excerpt above for the difference between being in the 1993 and 2003 RPAs.)

Sample part of RPA map of Pimmit Hills

Purchasing a home next to a small stream is the dream of many (myself included.)  Before you purchase, make sure you know what the impact, if any, the RPAs has on specific property. You will then be able to make an informed decision and be sure you can live with any possible limitations.

(As an aside – if you are in a RPA, you may also want to check if you are in a flood-zone…)