Are AndresenTysons Corner Real Estate For Sale
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The Rotonda is a large luxury condominium community located in the middle of Tysons Corner in Fairfax County. It was built in the 1978-1980 time frame and has about 1150 units spread over five buildings. The community is gated with 24 hour security – the buildings are controlled access as well. The community is close to the new Tysons West metro station.
The community amenities are extensive and includes bowling lanes, indoor and outdoor pool, fitness rooms, tennis, basketball courts, hair salon and a small general store. The community also operates their own shuttle to area locations.
There are 11 different floor plans to choose from. The floorplans include the 3br/3bathroom AA model at 1,780 sq/ft and the 1br/1ba B model 902 sq/ft. Prices lately have ranged from a $229,000 model B to $500,000 model J. Some of the models have enclosed patios and garage parking is also available.
Across the street from the community is Tysons Galleria and Lillian Court.
For Sale at the Rotonda
See all Rotonda tract Real Estate.
(all data current as of 11/22/2014)
$465,000 : 8350 GREENSBORO DR, Unit 417, Mclean2 beds, 2 full baths
$1,900 : 8350 GREENSBORO DR, Unit 504, Mclean1 bed, 1 full bath
$365,000 : 8370 GREENSBORO DR, Unit 303, Mclean2 beds, 2 full baths
Listing information deemed reliable but not guaranteed. Read full disclaimer.
Rotonda And Area News
If you like condo living but miss growing your own vegetables, there is a tried and true solution for you! While it may seem like something from the 40′s and their “Victory Gardens”, the idea of community gardening is still strong in Fairfax County! There are more than 650 garden plots available in nine different locations. Plots are typically 30′x20′ and rents for about $60/year.
February may seem a bit early to plan for spring, but the garden plots are very desirable and there are wait lists for most, if not all, locations.
To sign up, visit the Fairfax County page at http://www.fairfaxcounty.gov/parks/greenspring/plots.htm
The community garden locations are: Baron Cameron Park(Reston), Broyhill Crest (Annandale), Eakin Park (Annandale), Franconia Park (Alexandria), George Mason Park (Annandale), Grist Mill Park (Alexandria), Lewinsville Park (McLean), Nottoway Park (Vienna) and Bo White Gardens at Pineridge Park (Annandale, pictured above, across the street from Woodburn Village.) Places like Falls Church, Fairfax City and Arlington will have their own programs and plots available.
So, if you own a condominium (and like gardening) you may finally be able to grow your own flowers and vegetables. It may turn into a great hobby where you can meet like-minded people and get a sense of community.
To pay for the extensive walkability upgrades planned in Tysons Corner the Fairfax County Board of Supervisors voted to create a special Transportation Service District last week. It is estimated the new tax will generate $250 million for area improvements over the next 40 years.
As of now, the tax rate is set to take effect in January 2014 and will apply to both residential and commercial property. It has been estimated that the rate may be 6 to 8 cents per $100 assessed value. The tax district will only be for owners of residential and commercial property in the Tysons Corner area (presume the 22102 and 22182 zipcodes.)
There is opposition to the tax, especially from residential residents that believe that either a) all county residents should pay as the improvements will benefit more than just the residents, or b) Residential properties should be exempt.
Fairfax County seems sympathetic to excluding residential from the new tax as the share of revenue that would be generated from residential properties would be small. State law may prohibit such differential treatment of residential vs commercial so a special bill has been proposed that may make an exception in this case.
To me it seems fair to exclude residential homeowners in this case – the commercial landowners will benefit the greatest from the improvements in the heavily developed areas of Tysons Corner. The majority of residential areas in Tysons will see little direct benefit.
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.
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.
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:
Tysons West is a new development adjacent to the Tyson West metro stop on the new Silver Line through Tysons Corner. The property was formerly occupied by the Moore/Cadillac/Hummer dealership. The project will include urban Walmart, 24-hour fitness, a renovated Sheraton Premier Hotel and a variety of other restaurants, offices, retail and residential rental units.
The location is of course fantastic – right next to the metro stop and Dulles Toll road puts you within easy reach of Washington DC, Dulles Airport, I-66, I-495 and not to mention Tysons Corner Mall. The project started in 2011 and is scheduled for completion in 2013 – the same time the new Silver Line is scheduled to open.
- 250,000 sq/ft Retail/office in phase 1
- 300-400 residential rental units
- 440+ hotel rooms (already existing)
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
*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!
There are currently 6 homes listed for sale at the Rotonda in McLean, Tysons Corner. The units for sale range in price from a 1 bedroom at $245,000 to a 3 bedroom at $439,000. As 8 homes are pending sale there is a limited supply of homes – with the metro construction the area is very popular.
11 homes sold per the MRIS is 2011 at the Rotonda. Of those, 4 were foreclosures and none were short sales. 5 of the homes sold sold in 15 days or less – so if the unit is priced right it will sell very quickly.
The sold properties per the MRIS in 2011 are as follows:
|8340 GREENSBORO DR #316||1||1||B||902||$ 229,900||1/14/11|
|8340 GREENSBORO DR #826||3||2||1||J||1,685||$ 460,000||1/24/11|
|8340 GREENSBORO DR #924||2||1.5||E||1,208||$ 318,000||1/31/11|
|8380 GREENSBORO DR #904||1||1||C||992||$ 241,000||2/24/11|
|8370 GREENSBORO DR #512||3||2||1,685||$ 500,000||3/5/11|
|8370 GREENSBORO DR #621||2||2||1||G||1,327||$ 361,000||3/17/11|
|8360 GREENSBORO DR #516||1||1||902||$ 240,000||3/30/11|
|8340 GREENSBORO DR #906||2||1.5||D||1,205||$ 315,000||4/22/11|
|8350 GREENSBORO DR #1009||1||1||992||$ 245,000||4/26/11|
|8360 GREENSBORO DR #118||3||3||2||2,097||$ 624,750||5/3/11|
|8350 GREENSBORO DR #717||2||2||F||1,132||$ 312,000||5/10/11|
At Soldsense Realty we know Tysons Corner real estate. Please contact usif you would like to buy or sell at the Rotonda.