McLean, VA Real Estate News

By James Downing - Metro DC Houses Team REALTORS®, CRS, GRI, ABR,MRP, MilRes, When Looking to Buy or Sell - Make the Right Move
(Real Living | At Home)
Great Town Home - Fantastic Location 7329 Eldorado St, McLean, VA 22102 View Map Location ! This 3 level end-unit town home features 3 bedrooms, 2 full and 2 1/2 baths and hardwood floors. Featuring an Eat-In Kitchen plus a separate dining room. Relax on your private outdoor patio or by one of the two fireplaces. and enjoy your private beautifully manicured courtyard. This home even has a recreation room and a walkout lower level. Close to CIA, stores, parks and restaurants. James T. Downing Team Leader - The Downing Real Estate Group REALTOR, GRI, ABR Licensed in Maryland, Virginia & Washington DC 703.244.3971 Direct Jim@JimDowning.com Email Coldwell Banker Residential Brokerage 5028 Wisconsin Ave. NW Suite 100 Washington, DC 20016 202-362-5800 Office Details Asking Price: $565,000 ML...
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By Craig Richardson
(National Realty)
From examining McLean single family home sales that closed in the last four Septembers, it is clear that at least here, the housing market downturn has hit bottom and is now clearly on its way back.  In fact, the 33 homes sold in September 2009 in McLean is more than any of the three previous Septembers, including September 2008 (17 sold), September 2007 (31 sold), and September 2006 (24 sold).  Not surprisingly, September 2008 is the low point, which was the month that the stock market collapsed and people suddenly lost up 40% of their net worth in a matter of weeks. Home sale prices also rebounded in September 2009, with a median sold price of $969,974 compared to a median sold price of $835,000 in September 2008.  We are still not back to where we were in September 2007, where the me...
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The McLean Project for the Arts (MPA) will hold an outdoor art festival this Sunday, October 4th from 10:00 a.m. to 5:00 p.m. at the McLean Central Park. The event, titled MPAartfest, is aimed at "connecting art and community." The festival will include local artists of all ages and also include a variety of live performances at the Central Park's Gazebo Stage. For more information, visit the McLean Project for the Arts.   Looking to buy or sell a home in McLean, VA?Visit: www.craigsrealtylist.com
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By Craig Richardson
(National Realty)
SAIC, a Fortune 500 scientific, engineering, and technology applications company, announced last week that it is moving its corporate headquarters from San Diego to McLean.  According to a press release issued by the company, this "move will formally relocate the corporate executive leadership team closer to our federal government customers enabling us to better respond quickly and efficiently to their critical needs, while maintaining a significant presence in San Diego," said SAIC Chief Executive Officer Walt Havenstein. According to the Baltimore Business Journal, the "company currently employs about 17,500 people in the Washington area with about 6,000 in McLean - outweighing its 4,500-employee presence in Southern California and creating speculation for years that the company would...
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By Laura Rubinchuk Schwartz, Your Northern Virginia and D.C. Realtor
(Keller Williams Realty)
McLean VA is home to many businesses and personal residential pieces of real estate. The zip of 22101 is heavily populated with Businesses, so I've broken out the August statistics by zip code: 22101 Detached Houses Average Net Sale Price: $1,078,628 after 101 DOMRange: $500,000 to $2,585,000 Townhouses Average Net Sale Price; $779,722 after 36 DOMRange: $480,000 to $1,200,000   22102 Detached Houses Average Net Sale Price: $1,099,125 after 155 DOMRange: $738,000 to $1,950,000 1 Bedroom Condos Average Net Sale Price: $211,000 after 24 DOM 2 Bedroom Condos Average Net Sale Price: $455,693 after 82 DOM   The real estate market in McLean is almost like the Tale of 2 Cities. The area of 22101 is up about 8% in average sale price, up about 12% in median sale price, things are selling about ...
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Fairfax County Public School System (FCPS) recently released SAT results from seniors graduating in 2005 and they are the highest to date.  True to form, County students overall scored significantly higher than the Nation and the rest of Virginia.  In Mathematics, FCPS students scored an average of 565 compared to the national average of 520 and the Virgina average of 514.  FCPS students also scored higher on the verbal section as well, with an average score of 549 compared to 508 and 516 for the nation and state respectively. Within Fairfax County, Langley and McLean High Schools finished only behind Thomas Jefferson High School for Science and Technology (TJHSST) - the County's renowned magnet school - in terms of the highest math and verbal SAT scores.  In Math, Langley just edged ou...
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By Bill Lauler, Associate Broker,CIPS,CRB,SRES,GRI
(Chase Realty LLC)
 My question is a simple one . If the mortgage companies can give a buyer a 40-50 year loan. Then , why can't they extend the loans given to all buyers that have lost their jobs due to the economy or  by circumstance. The lenders and banks that received our hard earned dollars to save their institutions.Should ,just advise the buyer's they gave the bad loans to that they, the bankers ,have made a mistake by giving them a loan they could never pay back! The bankers should restructure the current loans and give the homeowner a period of 24-36 months interest only loans until they are back on their feet in this crisis. Then the market and the bankers will inherit the trust of our citizens again. What do you think?
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  In addition to being a RE/MAX agent, I am also Commissioner of the McLean Mustangs youth football program.  We are one of 23 clubs that make up the Fairfax County Youth Football League (FCYFL).  The program is for seven to sixteen year olds and players are placed in various weight classes based on an age-weight matrix.  This year, the Mustangs have approximately 380 players who play on twenty teams spread out across seven weight classes.   The regular season schedule was just released by the FCYFL.  We will play seven games this year and open up at Marshall High School on Friday night with 2 of our Ankle Biter teams.  Check out the schedule here and come join us for a great time!  If you would like more information about our program, visit the McLean Youth Football website.   Looking ...
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By Craig Richardson
(National Realty)
After examining the MRIS data of McLean single family homes sold between January 1 and August 31 in 2006, 2007, 2008, and 2009, two things jump out.  The first is that the percentage of homes listed at $1 million or more when they sold versus the total sold has steadily declined from 56% in 2006 to just 41% in the last eight months.  The second is that the lowest sales price for a single family home has also dropped significantly from $585,000 in 2006 to $416,900 in 2009. Neither of these statistics are unexpected given the overall real estate market in the past 2 years.  While the total number of homes sold has declined somewhat since 2006, what most people are looking for these days are the entry level price points regardless of what area they want to live.  In McLean, that means the ...
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Imagine a high performing green home that lives in balance with the planet while not taking away from the character of this McLean, Virginia neighborhood.  That is exactly what an innovative team of builders has accomplished at 1310 Calder Road in McLean, Virginia.  This gorgeous craftsman style house, doubles as the first home to be built with a carbon neutral footprint.  Located in the heart of McLean VA where the average home sales price hovers around $1 million the eco-friendly benefits could be easily overlooked by the casual passer-by.  Barry Dixon, Lead Project Interior Designer is calling this house the "new venue for education," as this house is not only a luxury home to be lived in, but also a forum for education. Teaching people that a beautiful,comfortable home can be sustai...
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By Laura Rubinchuk Schwartz, Your Northern Virginia and D.C. Realtor
(Keller Williams Realty)
McLean, VA has seen some interesting developments over the past month from July 2008. For 22102, the median sales price has fallen by 39%, but the average is only 1.6% down. This is a testament to where the activity is - in the lower price ranges. 22102 is dominated by detached property sales (39 of the 49 total sales in July were detached/single-family homes). For 22101, both the average AND median sales prices have fallen 25% since July 2008. The properties that sold in 22101 was evenly split between townhomes, condos, and detached properties. Here's the breakdown: 22101 49 Total Sales Detached Properties Price Range: $416,000 - $2,590,000 Average: $952,752Average Days on the Market (Property): 72 Townhomes Price Range: $520,000 - $1,185,000 Average: $729,480Average Days on the Market...
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By Brian Block, Northern Virginia & D.C. Real Estate
(RE/MAX Allegiance, Managing Broker/Branch Vice President)
That's my RE/MAX Allegiance office in McLean, Virginia.  We're located at 6226 Old Dominion Drive, McLean, VA 22101 Stop on by and say hello.  I'm the Managing Broker of the office and either myself or one of our 40 terrific agents can help you with any of your McLean, Virginia real estate needs. SO... What's Happening in the McLean, Virginia Real Estate Market? Here's a snapshot of McLean Virginia home sales in the last 30 days: MCLEAN VIRGINIA HOME SALES: Active homes for sale:  358 (including 50 new listings in the last 30 days).  This is a 14% decrease in inventory from two months ago!  Why?  McLean homes are selling and are going under contract.  However, there are still quite a few homes to choose from in McLean. Homes sold in the last 30 days:  66 -- or over 2 McLean homes per d...
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By Brian Block, Northern Virginia & D.C. Real Estate
(RE/MAX Allegiance, Managing Broker/Branch Vice President)
Are you wondering about Northern Virginia real estate and pondering what has sold recently? Here's some information about the most expensive home sales in Northern Virginia (Arlington County, Alexandria City, Fairfax City, Fairfax County, and Falls Church City) for July 2009.  All information was obtained through MRIS. Overall, there were 90 sales topping $1 million during the month of July 2009, keeping pace with the 92 $1M+ sales in June. JULY'S MOST EXPENSIVE SALES Single Family Detached Homes: 1201 Towlston Road, McLean, VA 22102  -- Sold on July 31st for $4,150,000.After a $1 million price reduction, this home sold for $825K below the asking price. This 7 bedroom home on 5 acres within 3 miles of Tysons Corner features almost 11 square feet of space and green design.  It was built ...
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By Jeff Wu
(@Home Real Estate)
1 property sold in the Gates of McLean in Tysosn corner in July 2009. It was a bank owned property on the top floor of building 1580. This property was on the market for 16 days, and it had multiple offers. It was originally asking $190,971, and sold for $193,000 in CASH. The one bedroom one bathroom home was a 642 square foot Chelsea model. There was no seller subsidy to the buyer in this transaction. The price per square foot was $300.62.July of 2009 compared very poorly in terms of number of transactions to the same month last year (July 2008). In July 2008 there were 7 home sold. Although it was only one property this past month (July 2009) we did have improvements in both areas of price per square foot and days on market average where last year they had $293.27 and 67.5 respectivel...
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By Jeff Wu
(@Home Real Estate)
4 homes sold in the Fountains at McLean in Tysons Corner in July 2009. All four of those sold properties were 2 bedroom 2 bathroom homes. The models were: Oak, Willow, Oak, and Dogwood. One of the 4 was in a mid-rise, secure building. The other 3 were in Garden Style buildings. The high sold price was $315,000. The low sold price was $285,000. 2 of the properties were REO, bank-owned properties, more commonly referred to as foreclosures. One was a short sale. And one was a traditional sale. The July 2009 Fountains at McLean real estate statistics for sold properties are = [1] average of $293.23 per square foot + [2] average of 38.75 days on the market.July 2009 kept a steady pace with July of 2008, as they both had 4 SOLD properties at this Tysons Corner Condo community. Last years stat...
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In The Colonies there was one property sold in July 2009. This home was an 1150 square foot 2 bedroom 2 bathroom property. It was on the third floor. It sold for $256,500 when asking $260,000. There was also a $2,500 seller conribution to the buyer. This comes out to a net price of $254,000. The home was on the market for 250 days. The average price per square foot was $220.87.The 1 sold property in July of 2009 in this Tysons Corner community compared well to the same month in the previous year when there were no (zero = 0) sold properties.During July 2009 there were also some rental transactions. A grand total of 2. The first was a 2 bedroom 2 bathroom property that rented for $1,500/month. And the 2nd was a 1 bedroom 1 bathroom property that rented for $1,195/month. They rented in an...
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In Lillian Court, the tysons corner condominium community directly next to the Tysons Galleria mall, there was one property sold in July 2009. This property sold for $330,000 when asking $349,000. There was no seller contribution to the buyer's closing costs. The property was on the market 15 days. It was not a short sale, foreclosure, or bank owned property. The property sold with an average of $346.27 per square foot. It was a 2 bedroom 2 bathroom "Michael" model in building 1625.This compared favorably to the same month last year, July 2008, when there were no (zero = 0) properties sold.In July there were 3 properties rented in Lillian Court in Tysons Corner. They ranged from a 1 bedroom 1 bathroom home for $1,400/month in rent to a 2 bedroom 2 bathroom home for $1,800 in rent. These...
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3 properties were SOLD in the Rotonda in Tysons Corner in the month of July 2009. The properties Sold were = 1) A J model, 3 bedroom 2 bathroom, home in building 8380. This property was asking $399,900 at time of contract, and sold for $390,000 with no subsidy. The home was on the market for 214 days, and originally listed at $444,900.2) A 2 bedroom 1.5 bathroom, D model, in building 8370. This home sold for $334,000 when it was asking $339,000. The property sold in 13 days. There was no subsidy, or seller closing cost contribution on this transaction.3) A model G, 2 bedroom 2 bathroom, style home in building 8350. This property sold for $321,000 and $5,000 subsidy. This is a net price of $316,000. The contract was accepted when the property was at an asking price of $325,000. This home...
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By Ellen Crawford, Alpharetta Real Estate Agents & Alpharetta REALTOR
(Maximum One Executive REALTORS®)
Moving to McLean Virginia or selling a home in McLean VA?  If you are planning  on buying or selling a home, condo, town home  or real estate in McLean VA contact us!  As your McLean VA Realtors and McLean real estate agents we can provide you with current sales data and sales statistics of homes for sale in McLean VA.  The national and McLean real estate market have changed recently.  It is taking longer to sell a home, and yes there are price reductions, but as you can see below, homes are selling in McLean VA.  It takes more than a sign in the ground to sell a home in McLean VA, it takes experience.  You'll need an local real estate expert to guide you in your quest to buy or sell a home these days.  You'll need the counsel of an experienced and seasoned agent to guide you through t...
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By Laura Rubinchuk Schwartz, Your Northern Virginia and D.C. Realtor
(Keller Williams Realty)
McLean, Virginia real estate statistics for June 2009 are very interesting. For 22101, sales volume is up about $11M from last year, the # of properties sold is greater, but the median is about the same. For 22102, sales volume is up about $4M because the number of properties sold is almost double 2008, probably because the median sales price is lower (by about $200k). Let's take a look: 22101 A total of 58 properties sold Single Family Homes Price Range: $470k to $2.2M Median Sale Price: $754,000 after 38 days Average Sale Price: $923,000 after 105 days Townhouses Price Range: $515k to $900k Median Sale Price: $636k after 145 days Average Sale Price: $664k after 138 days     22102 A total of 43 properties sold Single Family Homes Price Range: $725k to $3.0M Median Sale Price: $1,098,00...
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