July 23, 2008

What You Get for the Money: North (22207) & South Arlington (22204)

A few weeks ago, I featured an Arlington residence in my weekly “Mind Your Manors” post. But what happens if you don’t have $8.85 million to spend? What if you have only, say, $775,000 that you’re willing to part with? 

For that price, both ZIPs explored this week will afford you a detached home in an established, mature community. Both homes are also a short walk to a park and to restaurants and grocery stores. They are about 2.5 miles apart from each other, and are close to the Ballston Metro station. I’ve included the walkability scores for both as provided by WalkScore.com; you can visit the website for more specific information. Happy hunting! 

805 Randolph St, South Arlington, 22204
Subdivision: Alcova Heights
Price: $775,000
Type: Brick front, split foyer
4 bd/3 ba
Lot size: 9577 sq. ft. 

Interior: Updated kitchen with new appliances and granite counters; refinished hardwoods; fireplace in living room; formal dining room. Lower level has a library, 2nd master bedroom, rec room and a laundry room.
Exterior: Patio with landscaping and remote control awning. Walk to Alcova Heights Park.
Walkscore: 51 (somewhat walkable) 

For more information, visit the Alcova Heights Citizens Association online. 

1618 Randolph St, North Arlington, 22207
Subdivision: Cherrydale
Price: $775,000
Type: Tudor
6 bd/3 ba
Lot size: 0.26 acres 

Interior: Den/office; rec room; in-law suite; hardwoods; laundry room; workshop; attic.
Exterior: Fenced yard; brick barbeque; brick paved patio. Walk to Oak Grove Park.
Walkscore: 66 (somewhat walkable) 

For more information about Cherrydale, visit the Citizens Association online.

Image: Ground-level view of the Ballston Metro station.

July 22, 2008

Tuesday: DC Links

• If Barron’s is to be believed, we are nearing the bottom of the downward market spiral.
• The blogger at 14th & You has written a lovely ode to our fair city.
• The Washington Post has a good write-up of the good-faith estimate reforms proposed by HUD.
• The National Museum of African American History is looking for its architect. [dcmetrocentric.com]
• WashingtonPost.com has a list of the latest home sales in the District. [District Extra]

The Smithsonian Board selected a 5-acre site next to the Washington Monument as the site of the National Museum of African American History. 

Recent Sweet Digs Posts
Loudoun Sells Again
Monday: Mind Your Manors

July 21, 2008

Loudoun Sells Again

LoudounTimes.com is reporting that things are looking up for Loudoun’s real estate market. Here are the stats, as provided by the Dulles Area Association of Realtors (DAAR):

• 553 Loudoun homes sold in June, the highest number since December 2005 (Loudoun’s market peaked in 2005).
• Loudoun’s average sale price in June was $418,038, up from May’s average of $398,041. 

The Times article also cites a report by Fulton Research and Consulting (a Fairfax County real estate analysis company) as evidence that things are improving. The highlights:

• Sterling Park, which has had the highest foreclosure numbers in Loudoun, experienced tremendous gains in June. In the 20164 ZIP, 101 homes sold; that’s a 94% increase over June 2007.
• The second-biggest increase was in Ashburn’s 20148 ZIP, which saw a 42% sales jump from a year earlier.
• The number of homes currently on the market in Loudoun has dropped 25% from last June.
• The average days on marked dipped below 100 days for the first time since August 2007. 

Several readers downplayed the importance of the statistics presented in the article, commenting that the increases are due to the seasonal sales boost usually experienced at this time of year. Although I agree it’s smart to exercise caution before proclaiming the crisis is over, I think the commenters neglected to give proper credence to the fact that the number of homes sold was the highest since December 2005. We’ve had 2 summers since then where the number of homes sold in a month didn’t break 550, so the argument that the numbers are skewed by the summer selling season doesn’t really wash. I stand by my argument that buyers in Loudoun have simply been biding their time, making sure that they’re not going to lose money before they decide to take the plunge. Whether you like my version or not, you can be sure of this: The tighter, stricter, more rational lending practices that we’re seeing now means that the people buying in Loudoun this year are more likely to be able to keep their homes in the future. That’s something that all of us can feel good about.

July 21, 2008

Monday: Mind Your Manors

This week’s luxury property is located in Bethesda’s Edgemoor community (zip: 20814) at 5215 Moorland Lane. The English-style manor house, known as “White Chimneys”, was built in 1918 as one of the 5 original Edgemoor residences. Located just a short walk away from downtown Bethesda, the manor is situated on a one-acre, double lot that features tennis courts, a swimming pool, pool house, fish pond and lushly landscaped grounds. In addition, the Edgemoor Club (which has tennis courts and 2 more swimming pools) is a block away. Caroline Freeland Park and the Crescent Trail are both nearby. 

Inside, the house been updated in a way that highlights the original architectural details. In addition to 7 fireplaces and an 1800-bottle wine cellar, the home also offers a family room with heated tile floors and a library with a fireplace. The property has been on Redfin for 256 days, and has dropped to $6,750,000 from its original price of $7,600,000.

Downtown Bethesda

Here’s a nice little piece of trivia for you: Bethesda landed at number 5 on CNNMoney.com’s 100 Best Places to Live and Launch (your own company). Whether you want to live in Bethesda or just like to visit, you can learn more at Bethesda.org or DowntownBethesda.com.

Recent Sweet Digs Posts
Walk Score Really Likes Us!
Loudoun County Price Reductions, Townhouse Edition (7/18)

July 21, 2008

Walk Score Really Likes Us!

Walkers on Wisconsin & M St. (Photo credit)

A few days ago, Walk Score released its list of the country’s most walkable cities. Within each city, the website also ranks the most walkable neighborhoods. Washington, DC came in at a very respectable number 7 out of the 40 U.S. cities that were rated. 

While our very talented DC/Bethesda/Chevy Chase/Silver Spring blogger is taking a well-deserved hiatus, I’ll be using Walk Score’s web site to cover different neighborhoods in DC. Employing what might be the coolest (real estate) app ever, I’ll be able to tell you where you can walk to from any given address in the city. Since the good people at Walk Score are very open about the fact that the site might not always be completely accurate (cities are constantly changing, and their resources might take a while to provide up-to-date information), I welcome any and all comments about a neighborhood’s walkability and what it’s close to. If you have any additional insights to offer about a neighborhood, or any corrections you think would be helpful, please post that, too.

To better understand the ranking system, read the “How It Works” section. A walk score of 90 to 100 is considered a “walker’s paradise”.

The top 10 most walkable neighborhoods in DC are below. I’ll be making my way down the list by starting at number 10, Georgetown, later on this week.  For the complete list of the most walkable cities in the U.S., click here.

I hope you enjoy this series of posts!

July 18, 2008

Fun Fridays, 7/18

There is some great stuff lined up around the DC area this weekend; truly, a little something for everyone. Click on the city/county name to get the full list provided by The Washington Post. Have a great weekend! 

DC
Friday, 7/18
NATIONAL SYMPHONY ORCHESTRA CONCERT, works by Wagner, Bernstein, Weber, Sibelius and others. Musical instrument “petting zoo,” 6:45 p.m.; concert, 7:30 p.m. Carter Barron Amphitheatre, 4850 Colorado Ave. NW. Free. 202-426-0486.
Saturday, 7/19
WATERLILY AND ASIAN CULTURE FESTIVAL, includes workshops and arts and crafts. 10 a.m.-2 p.m., Kenilworth Aquatic Gardens, 1550 Anacostia Ave. NE. Free. 202-426-6905.
Sunday, 7/20
GUIDED BIKE RIDES, about three hours, led by a National Park Service ranger. Bring a bike and water. Helmet required. 1 p.m. ride has stops to discuss landmarks; 2:30 p.m. ride has stops to discuss what is hidden inside the monuments and memorials on the Mall. Meet at Thomas Jefferson Memorial, 900 Ohio Dr. SW. Free. 202-619-7222 or e-mail jason_martz@nps.gov. 

Image: Carter Barron Amphitheatre

ALEXANDRIA/ARLINGTON
Friday, 7/18
ROSSLYN JAMES BOND FILM FESTIVAL, action movies on outdoor screen, sponsored by Rosslyn Business Improvement District. Bring low lawn chairs and blankets. 7 p.m. Fridays, through Aug. 22, Gateway Park, Lee Highway and North Lynn Street, Arlington. Free. 703-276-7759 or http://www.rosslynva.org.
Saturday, 7/19
APOTHECARY MUSEUM,18th-century store, with pill rollers, mortars, pestles, drug mills, glassware, journals, letters, furnishings and patent medicines. 10 a.m.-5 p.m. Tuesdays-Saturdays, 1-5 p.m. Sundays, Stabler-Leadbeater Apothecary Museum, 105-107 S. Fairfax St., Alexandria. $4; ages 11-17, $2; 10 and younger, free. 703-838-3852.
Sunday, 7/20
“LIVING LEGENDS OF ALEXANDRIA,” photographer Nina Tisara’s portraits of people who improved the quality of life in the city. 10 a.m.-5 p.m. Mondays-Saturdays, 1-5 p.m. Sundays, the Lyceum, 201 S. Washington St., Alexandria. Free. 703-838-4994.  

FAIRFAX COUNTY
Friday, 7/18
SALSA CONCERT, tropical rhythms by Pablo Antonio y La Firma. 7:30 p.m., Grist Mill Park, 4710 Mount Vernon Memorial Hwy., Alexandria area. Free. 703-324-7469.
Saturday, 7/19
18TH-CENTURY MARKET FAIR,18th-century dancing and singing, crafts making, children’s activities and period wares; food and beverages available for purchase. 11 a.m.-4:30 p.m. Saturday-Sunday, Claude Moore Colonial Farm, 6310 Georgetown Pike,
McLean. $5; seniors and children 3-12, $2.50; 2 and younger, free. 703-442-7557 or http://www.1771.org. Sunday, 7/20
RESTON CONCERT ON THE SQUARE, by the Gypsy Strings. Bring a lawn chair or a blanket. 5-7 p.m., Reston Heights, 11750 Sunrise Valley Dr. Free. 704-476-9377.  

MONTGOMERY COUNTY
Friday, 7/18
JAZZ CONCERTS, Steve Herberman (guitar), Pepe Gonzalez (bass), Alex Norris (trumpet) and vocalists Alison Crockett and Christine Crerar perform; a student concert opens the show at 7 p.m.; sponsored by Chuck Levin’s Washington Music Center, Sushi Damo restaurant and St. Mark’s Presbyterian Church. 8:30 p.m., at the church, 10701 Old Georgetown Rd., Rockville. $20; in advance, $15; age 12 and younger, $5. 410-349-1082 or http://www.instantseats.com.
Saturday, 7/19
SILVER SPRING FARMERS MARKET, goat- and cow’s-milk cheeses such as mozzarella and ricotta, goat-milk soap, yogurt, fruit, vegetables, honey, eggs, pies, preserves, salsas, cut flowers and more. 9 a.m.-1 p.m. Saturdays, Silver Plaza, on Ellsworth Drive between Georgia Avenue and Fenton Street, Silver Spring. Admission, free. 202-362-8889.
Sunday, 7/20
PHOTOGRAPHY WORKSHOP, for enthusiasts of all experience levels, a Photoworks faculty member leads an informal discussion; bring digital or traditional images for critiquing; coffee and bagels served; sponsored by the Glen Echo Park Partnership for Arts and Culture. 10 a.m.-noon, Glen Echo Park, Photoworks Studio, North Arcade Building (across from Dentzel Carousel), 7300 MacArthur Blvd. Free. 301-229-7930 or http://www.glenechophotoworks.org.

July 18, 2008

Loudoun County Price Reductions, Townhouse Edition (7/18)

A few weeks ago, I wrote a post about the noticeable increase in significant price reductions (significant being defined, by me, as being greater than $50k). As with all rules, this one has an exception: townhouses. The only thing worth noting about townhouse reductions this summer is that they have been mostly occurring in nearly imperceptible increments (i.e., $5k to $10k drops). Unless a buyer is really paying attention, is a $5k price reduction going to leap off the page? Probably not. My personal rule of thumb with price reductions is this: If  a house is truly only overpriced by $5000 or $10,000, any serious buyer nowadays would have no problem shaving that much off of an offer price and the property would have already sold.  

Now that I’ve gotten that off of my chest, let’s move on to this week’s townhouse price reductions. I did manage to find a few that were reduced by more than $10k, and they’re featured here. There were no reduced townhomes in Belmont Country Club this week. Happy hunting! 

ASHBURN FARM
43229 Chestermill Ter, 20147
4 bd/3.5 ba; sq. ft. unavailable
Reduced from $349,000 to $329,000 (Original list price: $399,000)
Days on Redfin: 49 

ASHBURN VILLAGE
43974 Choptank Ter, 20147
3 bd/2.5 ba; 1426 sq. ft.
Reduced from $279,900 to $259,900 (Original list price: $305,900)
Days on Redfin: 183 

BRAMBLETON
42435 Greenside Dr, 20148
3 bd/2.5 ba; 3038 sq. ft.
Reduced from $419,000 to $400,000 (Original list price: $489,000)
Days on Redfin: 279 

BROADLANDS
21388 Shady Wood Ter, 20148
3 bd/3.5 ba; 2229 sq. ft.
Reduced from $379,900 to $369,900 (Original list price: $384,900)
Days on Redfin: 18 

LANSDOWNE
19099 Icehouse Ter, 20176
4 bd/3.5 ba; sq. ft. unavailable
Reduced from $434,888 to $408,888 (Original list price: $516,888)
Days on Redfin: 69

July 17, 2008

Thursday: DC Links

The new Anacostia (photo courtesy of And Now, Anacostia).

• And Now, Anacostia does a great job of breaking down the big changes coming to that part of downtown.
• Just like the little people: It turns out that even Wall Street bankers are being hard hit by the credit crunch. [DC Housing Prices]
• Here’s some good advice on how to reduce “junk fees” in your closing costs. [WashingtonPost.com]
• How do you accommodate a population expected to double to 2 million while still respecting the environment? Montgomery County is trying to answer that question. [Montgomery Extra]
• Turning off our laptops when they’re not in use can help the DC region reduce its greenhouse gas emissions. But what we really need to do is rehaul our entire way of life. [Southern Maryland Extra] 

Recent Sweet Digs Posts
Loudoun Roads Update
What You Get for the Money: Alexandria (22305 and 22302)

July 16, 2008

Loudoun Roads Update

If you’ve been wondering how all the shenanigans in Richmond would impact Loudoun’s road projects, I’ve got an answer – and it’s not good. As reported by LoudounExtra.com, the $16-million, 44% drop in the County’s 6-year road-building plan will mainly affect Waxpool Rd., Edwards Ferry Rd., and Belmont Ridge Rd. The improvements to Waxpool and Edwards Ferry have been eliminated, and the work slated for Belmont Ridge has been significantly scaled back.  

You can read details about the retooled improvements to Belmont Ridge here. Although I am all for eradicating the problem with the W&OD Trail crossing (it is a HUGE safety concern), I think the rest of the improvements will have little impact. Everyone who uses Belmont Ridge knows it is completely unequipped to handle the kind of traffic the new Belmont Greene Village Center is going to bring. (Click here to see what businesses will be setting up shop; Bloom is the anchor grocery store.) The original plan was to widen Belmont Ridge from Rt. 7 all the way to the Greenway, and I just don’t see how anything less will suffice. For more information on the setbacks and how they will affect area residents, check out local blog Leesburg Tomorrow. The blogger does a great job of covering local politics and other issues relevant to Loudoun residents.  

Image: W&OD Trail near Belmont (Photo credit)

July 16, 2008

What You Get for the Money: Alexandria (22305 and 22302)

If you’re longing to live in Alexandria but don’t have a mint to spend, you can definitely take heart. Although there were numerous properties in the high $800s, $900s, and up, there was also a plentiful assortment of homes $700k and under. You might not get a huge house for under $700k, but you’ll likely get a whole lot of charm, coziness, and great neighbors. 

The two properties I’m comparing this week are both priced right under $700k. The first one is in Beverley Hills (22305); the second is in Jefferson Park (22302). They are less than a mile from each other (.85, to be precise), which means they are both close to Old Town, the Pentagon, Reagan National Airport, and I-395. Both made Washingtonian’s 2005 list of family-friendly places to live, and Jefferson Park was included in Northern Virginia Magazine’s 2006 list of 50 Great Neighborhoods. 

Both homes have been updated and renovated, but the Beverley Hills house wins the kitchen competition – there is literally nothing left to do in there. The Beverely Hills house also has a larger lot (by more than 1000 sq. ft.) But if you’re more concerned with the indoor space, the Jefferson Park house might be a better bet; it has 4 beds and 3.5 baths, while the Beverley house only has 3 beds and 2 baths. Both have off street parking. 

Whichever house suits your needs better, each has something different to offer and, at less than $700k, both are sure to retain their value. Happy hunting!

Image: Waterfront views in Old Town Alexandria

Beverley Hills
3203 Old Dominion Blvd, 22305
Price: $699,000
3 bd/2 ba; sq. ft. unavailable
Lot size: 6,760 sq. ft 

Jefferson Park
2411 Cameron Mills Rd, 22302
Price: $698,900
4 bd/3.5 ba; sq. ft. unavailable
Lot size: 5,750 sq. ft.