Archive for May, 2008
May 31, 2008
Image: The crowd waits for Smashmouth to start the show. Photo credit: Snapp-Shot Photography
One of the great things about living in Eastern Loudoun is that there is a ton of things to do here in the summer. Movie nights at the Air and Space Museum (this month, it’s “Speed Racer”), fruit, vegetable, flower and berry picking at local farms, and wine tours are just a few of the activities Loudoun residents have to choose from once the weather starts warming up. But I think the most popular events are those held by the Loudoun Summer Music Fest (LSMF) on the lawn of Belmont Country Club. I think we’re all extra grateful for the LSMF this year, because its biggest sponsor (AOL, I am looking at you) pulled out at the very last minute and the organization had to scramble to get the funds together. Infinitive and OpenBand definitely deserve a shout-out for stepping up to the plate and helping the show go on. Thank you!
You may have already missed Creedence Clearwater Revisited and Smashmouth, but it’s not too late to enjoy performances by Foreigner (tomorrow, June 1st), Blues Traveler (Sunday, June 15th), Pat Benatar (Sunday, June 22nd) and REO Speedwagon (Saturday, June 28th), just to name a few. (You can see the entire schedule here.) Tickets are $15 in advance and $20 at the gate. Best of all, profits from the concerts and concessions are given to Loudoun charities through the Loudoun Foundation, so you can have fun and contribute to the community all at the same time. I can’t think of a better way to spend an evening.
Recent Loudoun County Posts
Price Reductions, May 30th
Wine Country Living
Loudoun County Farmers’ Markets
May 31, 2008
Everyone has heard of the famous Watergate Hotel thanks to Richard Nixon. But not everyone knows that this D.C. landmark complex also has more than 600 condo units. If you do know that, then you probably also have heard about its reputation for spacious, 1960s elegance, and for being pricey. It even has its own Wikipedia entry. But is it actually that pricey?
I started looking into this by accident when checking out a Redfin search of Foggy Bottom condos for sale. It seemed that a significant number were part of the Watergate - nearly 20 units for sale right now. This made me wonder how aging 1960s glam and river views were competing with the influx of new, high-end condos across the city.
What I found: price/sqft ranges from about $380/sqft to almost $800/sqft. Some of the apartments have been renovated, some have not, and the best views can command higher prices. Some apartments have more than one floor. Most have either garden access or large balconies. Some are combined units where the floorplan might not be conventional.
Co-op fees seem high at first but may not be out of line given the large size of the apartments, indoor parking and all other inclusives. If you look at the monthly fee on a per square foot basis, the average is about $1.11 for the units selling at 2700 and 2510 Virginia Ave., NW. For the units at 700 New hampshire Ave., NW, the average is $1.53. Check out the summary of most current MLS listings below. You can also find some of these and a helpful seller’s agent at www.watergateapartments.com.
Other notes: The Watergate is a bit separated from the rest of Foggy Bottom for those of us who like the feel of a neighborhood stroll outside the front door. But it can be a cool place for a lot of other reasons. You can walk to the Georgetown waterfront, the main parts of Foggy Bottom, K Street area and the monuments. You’ll find a pool, large gardens and large balconies/terraces. You have virtually everything you need in terms of conveniences right on the complex: bakery, Safeway, drycleaning, florist, etc. And you can pop into the Kennedy Center next door at 6:00 pm every evening for a free concerts on the Millennium Stage.
2700 VIRGINIA Ave NW #609 - $599,000 - 2 bed / 1.5 bath. Has a much lower co-op fee than most, at $1,101 /mth. Has 1,295 sqft, for $463/sqft.
700 NEW HAMPSHIRE Ave NW #1003 - $685,000 - 2 bed / 2 bath with 1,298 sqft ($528/sqft). Both river and pool views. Monthly fee is $2,017. 204 days.
700 NEW HAMPSHIRE Ave NORTHWEST #416 - $700,000 - 2 bed / 2.5 bath declared fixer-upper with enormous terrace. It has $1,428 sqft, coming in at $490/sqft. Monthly fee is $1,823.
700 NEW HAMPSHIRE Ave NW #1419 - $739,000 - 1 bed / 2 bath, with total of 1,467 sqft ($504/sqft). Has 3 sets of sliding doors out to balcony. Monthly fee: $2,435.
2510 VIRGINIA Ave NW #309/310 - $799,500 combined unit with 3 bed / 3 bath and 1,935 sqft ($413/sqft). One of the bedrooms has a separate entrance. Monthly fee is $1,849.
2510 VIRGINIA Ave NW #904-N - $850,000 - 4 bed / 3.5 bath with 2,220 sqft ($383/sqft). River view. Gourmet kitchen although there is no picture on the listing. $3,200 monthly fee.
2700 VIRGINIA Ave NW #802 - $875,000 - 3 bed, 3.5 bath “on the point” with wrap-around balcony. It has 2,216 sqft, coming in at $412/sqft. Sold “as is” so expect some fix-ups. $2,425 monthly fee.
2700 VIRGINIA Ave NORTHWEST #107 - $975,000 - 3 bed / 3.5 bath 2-level apartment of almost 2,200 sqft ($444/sqft.) Listing says it is “sun-drenched.” $2,167 monthly fee.
2700 VIRGINIA Ave NORTHWEST #102 - $895,000 - 2 bed / 2.5 bath townhouse-style unit with walk-out patio and garden. Has 2,005 sqft, coming in at $446/sqft. $2,183 monthle fee.
2700 VIRGINIA Ave NORTHWEST #1011 - $950,000 - 2 bed / 2.5 bath. With 1,635 sqft it comes in at $581/sqft. Monthly fee is $1,851.
2500 VIRGINIA Ave NW #702-S - $1,050,000 - 2 bed / 2.5 bath on two levels. It has an updated kitchen and river views. With 1,840 sqft comes in at $571/sqft. Monthly fee is $2,115.
2700 VIRGINIA Ave NW #702 - $1,100,000 - 2 bed / 2.5 bath unit “on the point” with a wrap-around balcony. The kitchen has a window. Has $2,300 sqft, coming in at $478/sqft. Monthly fee is $2,692.
2510 VIRGINIA Ave NORTHWEST #701-N - $1,600,000 - 3 bed / 2.5 bath two-level apartment with 43-foot balcony and a river/city view. With 2,105 sqft, it comes in at $794/sqft. Monthly fee is $2,518.
700 NEW HAMPSHIRE Ave NORTHWEST #1102/1103 - $1,893,500 - 3 bed / 4.5 bath combined unit, with good views. Has 3,136 sqft for $604/sqft. Monthly fee is $4,701.
2700 VIRGINIA AVE NW #301 - $2,050,000 - 4 bed / 3.5 bath and full-length balcony. It has 2,740 sqft, for $748/sqft. Monthly fee is $3,255.
2700 VIRGINIA Ave NORTHWEST #506/507 - $2,450,000 - 4 bed / 3.5 bath with 3,285 sqft ($746/sqft). Interior photos look modern. Fee is $3,712/mth.
Cheers,
Allison
Photo: wallyg, Creative Commons license
May 30, 2008
If you’re going to be out enjoying the substantially warmer weather this weekend, you might want to make time to check out a few of these price-reduced single families. In particular, the property on Ordinary Place in Ashburn Village looks like a phenomenal deal. Happy hunting!
ASHBURN FARM
20973 NIGHTSHADE PL, ASHBURN, VA 20147
6 bd/4.5 ba; 7335 sq. ft.; $115/sq. ft.
Days on Redfin: 69
Reduced from $849,900 to $839,900
20948 SPRINGWATER CT, ASHBURN, VA 20147
5 bd/3.5 ba; 3440 sq. ft.; $153/sq. ft.
Days on Redfin: 35
Reduced from $529,900 to $525,000
ASHBURN VILLAGE
20266 ORDINARY PL, ASHBURN, VA 20147
5 bd/3.5 ba; 3392 sq. ft; $124/sq. ft.
Days on Redfin: 69
Reduced from $469,000 to $439,000 (Original list price: $599,000)
43850 AMITY PL, ASHBURN, VA 20147
5 bd/3.5 ba; 4300 sq. ft; $124/sq. ft.
Days on Redfin: 85
Reduced from $575,000 to $535,000 (Original list price: $625,000)
BELMONT COUNTRY CLUB
19961 INTERLACHEN CIR, ASHBURN, VA 20147
5 bd/5.5 ba; 5861 sq. ft.; $166/sq. ft.
Days on Redfin: 107
Reduced from $999,000 to $975,000 (Original list price: $1,055,000)
43403 PRINCEVILLE CT, ASHBURN, VA 20147
4 bd/4.5 ba; 5162 sq. ft.; $165/sq. ft.
Days on Redfin: 146
Reduced from $899,000 to $850,000 (Original list price: $925,000)
BRAMBLETON
42565 OLMSTED DR, ASHBURN, VA 20148
4 bd/2.5 ba; 3426 sq. ft.; $161/sq. ft.
Days on Redfin: 91
Reduced from $575,000 to $549,900
42838 CONQUEST CIR, ASHBURN, VA 20148
5 bd/3.5 ba; 3926 sq. ft.; $134/sq. ft.
Days on Redfin: 6
Reduced from $539,990 to $524,995
BROADLANDS
21816 AINSLEY CT, BROADLANDS, VA 20148
5 bd/4.5 ba; 5908 sq. ft.; $169/sq. ft.
Days on Redfin: 151
Reduced from $1,013,000 to $998,000
22135 WHISPERHILL CT, BROADLANDS, VA 20148
4 bd/5 ba; 5395 sq. ft.; $145/sq. ft.
Days on Redfin: 46
Reduced from $799,900 to $779,900
LANSDOWNE
18783 KIPHEART DR, LEESBURG, VA 20176
6 bd/5.5 ba; 6381 sq. ft.; $141/sq. ft.
Days on Redfin: 43
Reduced from $949,900 to $899,900
19222 BURNT BRIDGE DR, LEESBURG, VA 20176
4 bd/4.5 ba, 5,379 sq. ft; $149/sq. ft.
Days on Redfin: 49
Reduced from $824,000 to $799,000 (Original list price: $859,900)
Recent Loudoun County Posts
The Ashburn Market According to Altos
Loudoun’s Magic Number: 2004
May 29, 2008
If you like Georgetown but can’t afford it, then nearby Glover Park may be a good place for you. This urban-style neighborhood is good for both young professionals and families. It was built in the 1920s and 1930s to the west of Wisconsin Ave., about midway between Georgetown and the National Cathedral at Massachusetts Ave. Glover Park is less elegant than Georgetown but very charming. And frankly, you get a lot more for your money.
In Glover Park you’ll find lots of row houses, mature trees and more green space than you’ll find in Georgetown. Many houses are wider than comparable Georgetown homes, allowing in more light. You get walkable access to a host of shops and restaurants on Wisconsin Ave., like Whole Foods, SushiCo, Starbucks, Myer Emco. You get the Guy Mason Recreation Center (adult art classes, playground, and more) and forested Glover Archbold Park. You get more space to park a car. And finally, you are still very close to the Georgetown you love.
Below are a few typical listings that I pulled from the MLS. As you can see, it is not hard to find something under $720,000.
3808 W St. NW. - $689,000 - Row house with 3 beds / 2 baths upstairs. Built in 1939. From the screen porch in the back you can see Whitehaven Parkway (this is actually a large park, not a motorway). It also looks like you can access the parkland directly!
3909 W St., NW - $715,000 - 3 beds / 2 baths upstairs, plus a 1/4 bath in the partially finished basement. Arched doorways and chestnut trim inside. This is a federal-style corner unit.
2230 Huidekoper Pl., NW - $669,000 - 3 beds upstairs / 3 baths. This is a classic colonial row house but it is an estate sale so will need some fix-ups. Built in 1936.
2209 39th Pl., NW - $659,000. 3 beds / 2 baths. This is also a corner unit. It has a renovated kitchen and deck. One of the bedrooms is in the basement, which has a separate entrance and above-ground windows. Open Sunday, June 1st from 2-4 pm.
2011 37th St. NW - $715,000 - 3 beds / 2 baths upstairs. Updated and “ready to move in.” A wall of windows off the family room at the back looks onto a tidy brick patio garden. This property also backs to a small strip of parkland. The listing says nothing about the basement. Built in 1925.
Cheers,
Allison
Photo: Creative Commons license, credit to Slack13
May 27, 2008
You probably know by now that I am somewhat of a “silver lining” type of girl…or, at least I try to be. I have to admit it gets tiring sometimes, attempting to ferret out the positive from what seems to be a bad news buffet, but I do it because getting sucked into the doom and gloom of it all just seems too easy. Okay, and maybe I also do it because I’m a Loudoun homeowner and I’d really like it if my home could please stop bleeding value, but that’s just a teensy part of it.
The last time I looked at Altos was in the beginning of April, and I was almost afraid of what I might find this time around. But the truth is, the news really isn’t all that bad. In fact, for Ashburn (both 20147 and 20148), some of it is actually pretty good.
First, the so-so news…
Price Trends
Last month, the median single family home price was $626,650; as of May 25, it was $623,528. Given that the spring market had just started in April and there are more properties on the market now, I think a $3122 price drop isn’t too alarming. Hey, it could have been way worse.
Price per Square Foot
A month ago, the median price per square foot for Ashburn homes was $173; this month, it was $168. Not great, but not horrific, either.
Now, for the better news…
Market Conditions
In April, the Market Action Index (MAI) was 15.06; as of May 25 2008, the MAI was 15.59. While that still makes Ashburn a buyer’s market (anything below 30 favors buyers), that’s an increase of .53. So although sales prices experienced a slight drop, activity actually increased.
Days on Market
Last month, the average number of days on the market for a property in Ashburn was 101; in May, that number decreased to 78 days. That’s a drop of 23 days, which is significant. I’m fairly certain the drop is attributable to the clearing out of most of the foreclosures (which were really hiking up the average days on the market for the County) and to better, more realistic pricing on the part of sellers.
If you’re a buyer looking in Ashburn, what does this mean for you? It means that you’re fortunate enough to be in a market that favors you but is also showing some signs of stabilizing a bit. There are still plenty of fantastic deals to be had, especially if you do your homework and know what you want, but the increased sales activity might help ease your mind a bit about Ashburn homes retaining their value. As unbelievable as it sounds, there are still properties in Ashburn (and other Loudoun communities) that are selling in a matter of days, and with multiple offers. So keep your eyes peeled, your mind open, and be ready to move quickly if you see something you love.
Recent Loudoun County Posts
Fun with Numbers
Ashburn Sports Complex a Winner?
Past Sales, March through Mid-April
May 23, 2008
What a gorgeous weekend to get out there and scout for housing possibilities! Below are some different types of properties that have reduced in price. Are you most interested in a close-in location, a large luxury home, or a fixer-upper opportunity? They’re all here. I have included this as a “DC” posting because two of my choices are so close to the line that you urbanites might actually like them. If you want to track your own reductions by neighborhood you can do so by signing up for Redfin alerts.
CLOSE TO DC :
4960 Western Ave - $779,000, 3 bed/2.5 bath detached house pictured above, down from $799,000. This is in Crestview, on the Maryland side of Western Ave. and just on the edge of expensive AU Park. From here you can easily walk to Fort Bayard Park, or grab a sandwich at Western Market just a few doors down. The Friendship Heights Metro and shopping area are within walking distance too. Westgate Elelmentary School (public) is in this neighborhood.
5019 Westport Rd - $1,349,000, 4 bed/3 bath colonial on a large lot. Just reduced from $1,399,000, this house is on a quiet street just across River Rd. from the house mentioned above. It is a couple of blocks from Willard Park in one direction, or the same distance the opposite way you get to Bloomingdale’s, the Metro and general Friendship Heights action. Besides the stores and restaurants, a new community center is being built there too. Open Sunday May 25, 1-4.
NEAR DOWNTOWN BETHESDA
5900 Kirby Rd. - $899,000 down from $949,000. This is a ”pristine” 4 bed/3 bath rambler with large, landscaped lot, in Pineview/Landon. I used to prefer colonials but I now realize that ramblers can be really nice and are a good option if you are thinking about expanding one day. If you have not checked one out, take a look. Open Sunday May 25, 1-4.
FIXER-UPPER
9401 Linden Ave. - $549,000, down from $599,000. This 2 bed/1.5 bath fixer-upper is on a large lot that could accomodate expansion. The property is in the heart of Maplewood/Alta Vista, which is between Old Georgetown Rd. and Rockville Pike, just north of the NIH. It is a typical family suburb with easy car access to Bethesda, I-495, Rockville, etc. - and close to the BCC-YMCA.
NEW LUXURY HOME
9517 Kentstone Dr. - $1,299,900 down from $1,349,000, in Wyngate. This is a new 6 bed/5.5 bath home with lots of bells and whistles. It has been on the market for various prices since September. The listing agent says it is now the best deal in a new Bethesda home. There is no square footage information so it’s hard to know, but the pictures are great. Also close to the BCC-YMCA, Beltway, etc. Open Sunday May 25, 1-4.
Cheers,
Allison
May 22, 2008
There are quite a few condo buildings on or near upper Wisconsin Ave. traveling from the Friendship Heights area of D.C. up through Chevy Chase and Bethesda. I have been ogling this one at 4301 Military Rd., N.W. ever since it went up. I love the architecture, the green lawn and the location, right next to the Friendship Heights Metro and behind Chevy Chase Pavillion.
At least two apartments are selling in this building at a good discount from the original prices, so I want to pass this news on to any lucky duck who can afford them! When it was first built I swear the developer was advertising units “starting at $990,000″ or something close to that. The building is on the D.C. side of Western Ave. overlooking the canopied entrance to Friendship Heights/Chevy Chase.
More construction is underway across the street (kitty-corner) from this building, next to Bloomingdale’s, but I understand the housing component will be luxury rentals. Plans for a new condo building on Wisconsin Ave. next to the southern Metro exit seem to be stalled. I wonder if/when the GEICO parking lot area will go under the bulldozer, as it also seems to be prime real estate for more housing.
Here’s some data on recent condo sales on the Maryland side of this corridor, since this is where most of them are for now. The average price per sqft is over $500 but condo fees vary (generally $500 - $900 a month).
| ZIP: 20814 |
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| ADDRESS |
SALE PRICE |
SQFT |
YR BLT |
SALE DATE |
| 4801 FAIRMONT AVE APT 301 |
$ 305,000 |
640 |
1990 |
2/25/2008 |
| 4970 BATTERY LN Apt 408 |
$ 230,000 |
768 |
1974 |
4/4/2008 |
| 4970 BATTERY LN APT 406 |
$ 220,000 |
781 |
1974 |
3/19/2008 |
| 4977 BATTERY LN #1-419 |
$ 278,000 |
815 |
1982 |
3/13/2008 |
| 8931 BATTERY PL #19 |
$ 510,000 |
1067 |
1985 |
3/14/2008 |
| 4977 BATTERY LN #1-210 |
$ 302,000 |
1078 |
1982 |
3/19/2008 |
| 13 DUDLEY CT #34 |
$ 368,000 |
1218 |
1981 |
4/4/2008 |
| 4801 HAMPDEN LN APT 804 |
$ 765,000 |
1285 |
1989 |
3/19/2008 |
| 4821 MONTGOMERY LN Apt 104 |
$ 255,462 |
1382 |
2003 |
4/9/2008 |
| 5450 WHITLEY PARK TER #HR-408 |
$ 460,000 |
1468 |
1990 |
3/17/2008 |
| 4985 BATTERY LN #4985 |
$ 526,000 |
1520 |
1982 |
4/4/2008 |
| 4821 MONTGOMERY LN APT 501 |
$ 1,175,000 |
1730 |
2003 |
3/18/2008 |
| 5323 POOKS HILL RD #406 |
$ 500,000 |
1893 |
1958 |
2/29/2008 |
| 9723 WHITLEY PARK PL #TH-7 |
$ 675,000 |
1912 |
1990 |
3/26/2008 |
| 9615 LINDEN AVE #3 |
$ 740,000 |
2177 |
2003 |
3/17/2008 |
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| ZIP: 20815 |
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| ADDRESS |
SALE PRICE |
SQFT |
YR BLT |
SALE DATE |
| 5500 FRIENDSHIP BLVD APT 2121N |
$ 235,000 |
456 |
1982 |
3/19/2008 |
| 5500 FRIENDSHIP BLVD APT 2015N |
$ 250,000 |
511 |
1982 |
3/24/2008 |
| 4242 E WEST HWY APT 917 |
$ 245,000 |
592 |
1979 |
3/11/2008 |
| 4820 CHEVY CHASE DR APT 103 |
$ 325,000 |
655 |
1981 |
3/11/2008 |
| 7111 WOODMONT AVE Apt 718 |
$ 385,000 |
744 |
2000 |
4/9/2008 |
| 4515 WILLARD AVE APT 516-S |
$ 315,000 |
869 |
1982 |
2/28/2008 |
| 4515 WILLARD AVE APT 701S |
$ 314,000 |
904 |
1982 |
3/17/2008 |
| 4601 N PARK AVE APT 316 |
$ 375,000 |
1031 |
1975 |
2/21/2008 |
| 4242 E WEST HWY APT 805 |
$ 350,000 |
1120 |
1979 |
3/21/2008 |
| 4852 BRADLEY BLVD #224 |
$ 535,000 |
1122 |
1981 |
2/21/2008 |
| 5600 WISCONSIN AVE #1-704 |
$ 200,000 |
1141 |
1988 |
4/7/2008 |
| 6621 FAIRFAX RD #113 |
$ 625,000 |
1164 |
1977 |
3/20/2008 |
| 5600 WISCONSIN AVE #1-1001 |
$ 1,150,000 |
1593 |
1988 |
3/14/2008 |
| 4620 N PARK AVE APT 607W |
$ 715,000 |
1610 |
1973 |
2/21/2008 |
| 6708 HILLANDALE RD #21 |
$ 550,000 |
1665 |
1979 |
4/10/2008 |
| 4550 N PARK AVE APT T206 |
$ 1,000,000 |
1896 |
1982 |
3/17/2008 |
| 5600 WISCONSIN AVE #1 |
$ 2,200,000 |
2899 |
1988 |
2/29/2008 |
| 5630 WISCONSIN AVE APT 1102 |
$ 3,105,000 |
3399 |
1999 |
3/5/2008 |
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May 18, 2008
During my latest past sales review for the 20176 zip, I started noticing that not all recent sellers who bought their properties in the past few years are losing money these days (although it sure does feel like it). In fact, some are even making money, albeit relatively small amounts. Just who are those lucky people? Anyone who bought in 2004 or before, and they’re seeing an average annual increase of between 3% and 4%.
As with everything in life, there are a few exceptions to this rule. But for the most part, anytime I clicked on a sales record and noticed a yearly appreciation percentage instead of a depreciation percentage, it was for a property last sold in 2004. That would make sense in light of the fact that the market here peaked in 2005, but I guess it’s interesting for me to see it in such cold, hard numbers. It’s so…literal.
What does this mean for 2008’s buyers and sellers? Sorry to sound like a broken record, but if you bought in or after 2005 and you don’t have to sell your house, you’re better off taking it off the market and trying again in another year or so*. Not only will you be doing yourself a favor, you’ll also be doing your bit for the economy by removing a property from an already overloaded inventory. If you’re a buyer, investigate 2004 prices for the properties you’re interested in and their comps, then increase that by 3% to 4% over the past 4 years, and you might have a good ballpark figure for current value. I know that might seem a little farfetched, but fair market value is so volatile these days that it certainly wouldn’t hurt to look at it from a different perspective. And besides, what have you got to lose?
*Unless the new President does something drastically stupid immediately after being sworn into office, or there is some other catastrophe, I think the market will pick up in spring 2009 in response to the new political environment. That’s just my current pet theory.
May 17, 2008
While I was combing through LoudounExtra.com for my news fix, I came across this article about a $40 million sports complex that a local high school baseball coach is planning to build in Ashburn. The complex would include 12 athletic fields, a swimming facility, a leadership training center, a library and several restaurants. The complex would comprise one large building and two smaller ones, and is slated to be built on Belmont Ridge Rd., near Rte. 7. The complex was the topic of discussion at a Loudoun County Planning Commission public hearing this past Thursday (5/15).
As an Eastern Loudoun resident and parent, I can see both the good and bad of this plan. The good? The complex will satisfy a dire need in the County for playing fields and practice space, both of which there is a shortage of. The fields that do exist are in terrible shape. My daughter plays softball, and it’s been obvious from the scheduling difficulties that there is a need to be filled. I also think that a complex like this would only help property values, since so many homebuyers here are parents or parent wannabes.
But…I can definitely understand why some residents near the intended site are not thrilled. Not only will the complex be a place full of bright lights and big noises, it will also increase traffic on a road that really can’t handle much more. There are plans to widen Belmont Ridge, but I’m not sure where those plans stand now that the state is having so much trouble funding transportation improvements.
Image: An artist’s rendering of the complex (from LoudounExtra.com).
The company seeking to build the complex, Play to Win, was founded by a South Riding resident who is more than willing to address the lighting and noise concerns through use of a fence and a tree shield, and by restricting use of the outdoor lights and PA system. The company already has several leagues and non-profit organizations lined up to use both the fields and some of the office space.
What do you think - is this an idea that’s good for Loudoun? Or will it cause more traffic trouble than its worth?
May 16, 2008
Ever since the market started to really tank about a year ago, it’s been my theory that the key to turning things around has been townhouse prices. Most people buying a single family first need to sell either a smaller single family or a townhouse in order to have the down payment for their next home. But with Eastern Loudoun townhome prices in the $400,000 to $600,000 range (and sometimes even higher), many first-time homebuyers have been priced out of that market and have had to wait for prices to come down. Without those buyers, current townhouse owners are unable to climb to the next rung on the property ladder, and the result is a glut of both townhomes and single families cluttering the market.
As much as I’m not loving the recent sharp decline in prices in Loudoun, it is a necessary evil if we’re going to get the market moving again. (You can read my recent rant about this here). So, it is with great relief that I noticed that Loudoun’s townhouse prices have begun to reach levels where first-timers might actually be able to afford them. Although some sellers still seem to not have gotten the memo that we’re in a down market, most townhome prices are now in the $300,000 to $400,000 range, which is much more appropriate. How do I know what’s appropriate? It’s easy enough to figure out when you take advantage of a really cool feature Redfin provides in its listings, which is a summary of comparable sales in the area. Actually, they call it “Nearby Sales”, and it’s at the bottom of each listing on the right-hand side. It’s yet another way to arm yourself with information when you’re about to embark on either a home-buying or home-selling adventure.
If you plan on venturing out this weekend to do a little house browsing, be sure to stop in at the open townhouses below. To see what else is open this weekend in 20176, click here; in 20147, click here; and in 20148, click here. Redfin’s open house search function is up and running and comes in quite handy.
Happy hunting!
ASHBURN FARM
43775 CLEMENS TER, ASHBURN, VA 20147
Price: $365,000
3 bd/2.5 ba; 3485 sq. ft.
Open: Sun. 5/18 from 1 to 4
43173 GLENELDER TER, ASHBURN, VA 20147
Price: $344,500
3 bd/2.5 ba; sq. ft. unavailable
Open: Sun. 5/18 from 1 to 4
ASHBURN VILLAGE
44224 MOSSY BROOK SQ, ASHBURN, VA 20147
Price: $282,500
2 bd/2.5 ba; 1,416 sq. ft.
Open: Sun. 5/18 from 1 to 4
21067 TYLER TOO TER, ASHBURN, VA 20147
Price: $329,000
3 bd/3 ba; 2264 sq. ft.
Open: Sun. 5/18 from 1 to 4
BROADLANDS
21559 WELBY TER, BROADLANDS, VA 20148
Price: $339,827
3 bd/2.5 ba; sq. ft. unavailable
Open: Sun. 5/18 from 1 to 4
22025 DILWORTH SQ, BROADLANDS, VA 20148
Price: $478,000
3 bd/3.5 ba; 2,568 sq. ft.
Open: Sun. 5/18 from 1 to 4
LANSDOWNE
19117 EAGLE MINE TER, LEESBURG, VA 20176
Price: $420,000
3 bd/2.5 ba; 3049 sq. ft.
Open: Sun. 5/18 from 1 to 4
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