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.)
|1570 SPRING GATE DR #7206||1||1||Regular||DANIELLE||735||$ 225,000||04/22/11|
|1530 SPRING GATE DR #9113||1||1||Regular||KENDALL||655||$ 200,000||04/22/11|
|1581 SPRING GATE DR #5201||1||1||Regular||SHANNON||690||$ 225,000||03/04/11|
|1580 SPRING GATE DR #4103||2||2||Foreclosure||DALTON||998||$ 275,000||02/28/11|
|1581 SPRING GATE DR #5403||2||2||Regular||DALTON||998||$ 339,000||01/31/11|
|1580 SPRING GATE DR #4106||1||1||Regular||DANIELLE||736||$ 223,500||01/20/11|
Most of the recent sales have been regular sales. As was mentioned in the foreclosure post a while back, the Gates of McLean has had its share of distressed property sales. Whomever purchased the 2 bedroom for $275,000 at the end of February this year really got a great price…
If you are looking to buy and sell at the Gates of McLean, please contact us. We know the Gates of McLean and will help you buy or sell at a great price.