McLean, VA Real Estate News

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!  We are your McLean VA Realtors and McLean real estate agents!  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 homes are still selling in McLean VA.  It takes more than a sign in the ground to sell a home in McLean VA, it takes experience.  You will need an 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 the minefields.   Since over 85% of our business is directly Internet related, we can market homes 24/7/365 days a year glob...
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By Jeff Wu
(@Home Real Estate)
Lillian Court had one property sold in February 2009. It was an Eden model with 848 square feet. The property was listed at $280,000. It was on the market for 68 days, and sold for $262,000. This was a bank owned property.So far, for the closed months of January and February 2009, this is the only property SOLD in Lillian Court. In looking to past years the one property sold in February 2009 is exactly the amount of settled transactions that occured for the same month (February) in 2008.For the same period of time, there have been 4 properties that have rented.There are another 4 still available for rent on the active market, and there are 2 properties currently available for sale/purchase.(data from MRIS)
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There was one home sold in February in the Rotonda. It was a large 3 bedroom 2 bathroom J model. It was also on the top floor. Besides the great views, this home had luxury baths, a gourmet kitchen, hardwood floors, one garage parking space, and a storage unit.The title of this blog post refers to the days on market. This property was on the market for a grand total of 12 days. That's pretty quick in any market. So it does go to show if the home is nice, and priced right, it will sell.I will clarify that priced right still doesn't mean you're going to get asking price. Buy buyers have to think you're in the "deal" range to even considering coming to look, or for that matter making an offer.This home was asking $517,000 and sold for $495,000.In terms of transactions month over month, the...
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By Jeff Wu
(@Home Real Estate)
The Gates of McLean had 2 properties that Sold in February of 2009. That's a 100% increase vs. the 1 of the same month last year (08). So, definately good news on increasing transactions.The properties themselves were very different. One was a 3 bedroom, Christine model, in building 1530. It was located on the 2nd floor. That property was asking $374,900 and ending up settling for $354,750. It was a cash transaction.The other property that sold was a one bedroom, Danielle model, which is the largest you'll find in a secure building(1581). This property was also on the 2nd floor. The property was a bank owned property, also referred to as an REO. It was asking $199,900 and settled for $195,000. It sold rather quickly, being on the market only 23 days.(data from MRIS)
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By Jeff Wu
(@Home Real Estate)
Good news is that transactions were up for our region, as a whole, 39% for the closed month of January 2009 vs. January 2008. However, this is the Tysons Corner Real Estate Blog. So we should focus in a little more locally.The two zip codes that combine, border each other, or whatever you want to call it to make up Tysons corner area are 22102 (McLean) and 22182 (Vienna). Neither of these was up 39% in January for transactions. In fact one was up, and the other was down.The zip code area of 22102 was down 46.15% for the month of January compared to the previous year. The numbers themselves weren't huge, 7 (2009) vs. 13 (2008), for total properties sold.The zip code area of 22182 was in line with the regional trend, although slightly below the regional rate, with a 20.22% increase in tra...
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By Ellen Crawford, Alpharetta Real Estate Agents & Alpharetta REALTOR
(Maximum One Executive REALTORS®)
McLean VA Real Estate Update for Sunday February, 1 2009. As of today Sunday February 1, 2009 there are currently 273 homes for sale in McLean VA in our MRIS MLS System. These are fee simple McLean VA homes for sale and detached single family homes. McLean Virginia is located close to Washington DC in Fairfax County. McLean VA has great homes, neighborhoods, and some great subdivisions with reasonably priced single family detached fee simple homes for sale. Below is a current list of activity on single family homes for sale in McLean VA. 273 'Active' - McLean,VA Homes 2 'Cntg/KO' - McLean,VA Homes 14 'Cntg/NO KO' - McLean,VA Homes 21 'Contract' - McLean,VA Homes High Price Listed $15,000,000 Low Price Listed $499,900 McLean VA HOMES FOR SALE - ACTIVE MLS Your browser does not support i...
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By Brian Block, Northern Virginia & D.C. Real Estate
(RE/MAX Allegiance, Managing Broker/Branch Vice President)
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:  360 (including 58 new listings in the last 30 days) Homes sold in the last 30 days:  21 Average Sales Price:   $741,137 Median Sales Price:     $552,110 Average Days on Market:    54 Average Sales Price/Original Listing Price:  90.65% Interesting Note:  There are 222 homes (over 61%) on the market in McLean priced at $1 million or more.  They've been on the market for an average of 153 days.  The higher bracket market is indeed moving quite slow as are sales overall in McLean. Find a Home in McLean Contact Brian Block, REALTOR/Attorney, RE/MAX Allegiance: Licensed in Virginia & Washington D.C.  703-626-0715...
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By Jeff Wu
(@Home Real Estate)
We have so many choices: Giant Food, Safeway, Wegmans, Shoppers, Magruders, Harris Teeter, Food Lion (excuse me - Bloom) and more. Why do we shop for groceries where we choose? I would wager that the majority choose simply because of geographic convenience. Not all people enjoy a trip to the grocery store as I do. Hey, I like to eat! But even I know it takes time, time to drive there, time to pick out your stuff, time to pay, time to drive home, and even more time to put it away. That's the one resource we can't get back. So I too understand the time benefits of going to the closest grocery store to where you live. Well now Tysons Corner has a Harris Teeter. It's definately going to be the go to grocery for a lot of the condo and apartment dwellers in the area. And I'm sure some of the ...
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By Are Andresen, Northern Virginia Real Estate
(Soldsense - your sixth sense in real estate)
Fountains at McLean is located in McLean, Virginia. Located in Tysons Corner, it is ideally situated next to one of the major employment centers in the area.  The Fountains at McLean consists of multiple buildings of two styles: mid-rise and garden. The mid-rise style has controlled building access and underground parking available. The garden-style has open hallways and there is surface parking only. There are numerous 1 and 2 bedroom models available. In 2008, a total of 22 units were sold in the MLS. 15 units sold were one bedroom units and 7 units sold were two bedrooms units. The price range of solds start at $215,000 for a 1 bedroom and ends at a 2 bedroom unit sold for $357,000. Like most places in the area, the prices have kept dropping steadily over the last few years. The comm...
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By Are Andresen, Northern Virginia Real Estate
(Soldsense - your sixth sense in real estate)
Gates of McLean is located in McLean, Virginia. Located in Tysons Corner, it is ideally situated next to one of the major employment centers in the area. A new metro station is planned within walking distance. The community is gated and has well kept grounds. There is a clubhouse, exercise room, pool, walking paths, a sports court and picnic areas. The Gates of McLean consists of multiple buildings of two styles: mid-rise and garden. The mid-rise style has controlled building access, heated hallways and underground parking available (does not come with all units.) The garden-style has open hallways and there is surface parking only. There are numerous 1, 2 and 3 bedroom models available. All the units have an open floor plan with open kitchens and they typically come with a full-size wa...
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By Are Andresen, Northern Virginia Real Estate
(Soldsense - your sixth sense in real estate)
Idylwood Towers is located on Pimmit Drive in Falls Church, half a mile off Leesburg Pike (Rt 7) and a few minutes down the road from Tysons Corner. In 2008, 18 total units were sold. 10 units sold were one bedroom units and 8 units sold were two bedrooms units. The price range of solds start at $146,000 for a Junior 1 bedroom and end at a 2 bedroom unit sold for $255,000. Idylwood Towers consists of two apartment buildings with about 14 floors each. The building has concrete between the floors, and units are large compared to current building standards. Units are allowed to have their own washer and dryer. Amenities include things like landscaped grounds, tennis courts, exercise rooms, party rooms, extra storage units and a swimming pool. Parking is by permit and is located outside. Ex...
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In the 4th Quarter of 2008 there were 8 SOLD properties in the Rotonda. The majority of those, 5, were 2 bedroom 2 bathroom models. More data is below.However as a whole the community averages for the 4th Quarter of 2008 are as follows = - 94.8% Net Sold to List price ratio- 132 Average Days on the Market- $1,812.50 Average Seller ConcessionsIn the 4th Quarter of 2008 there was slightly more happening in the Rental market in the Rotonda. 9 properties were RENTED in that quarter. Unlike in the sales side, the majority of these, 6, were 1 bedroom 1 bathroom models.The community averages for the Rotonda Rentals in the 4th Quarter of 2008 are = - 93.5% Rented to List price ratio- 51 Average Days on the Market (data from MRIS)
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The Rotonda was significantly more active in terms of Real Estate transactions compared to most of ther other Tysons Corner communities for December 2008. There were 5 SOLD properties, and "x" RENTED properties.Of the 5 SOLD properties this month, 4 were 2 bedroom 2 bathroom style, the other 1 was a 1 bedroom 1 bathroom. These 2 bedrooms averaged out to sell for $362,225 and in an average of 117 days on the market. The high SOLD price was $385,000, with the low SOLD price being $290,000. There was also an average subsidy, to the buyer, of $2,375.The 1 bedroom settled at a price of $255,000 and gave $5,000 subsidy to the buyer. It was on the market for 111 days, and originally asked a price of $305,000.The 0 (zero) properties reported RENTED in the Rotonda community this month are signif...
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Although the temperatures aren't very high in December there was still some life in the Fountains real estate market.In December there were 1 SOLD property, and 3 RENTED properties at the Fountains at McLean.The property that SOLD in December was a 1 bedroom 1 bathroom Pine model. It took 174 days to get a CONTRACT. The home sold for $215,000 and gave the buyer another $5,500 in subsidy. That equals out to a net to the seller of $209,500. This was also equivelant to 89% of the original asking price.The 3 properties that RENTED in this month were all of the 1 bedroom 1 bathroom variety. They RENTED for an average of $1300/month, and in an average of 97 days on the market. There was a high rent of $1350/month, and a low rent of $1250/month. The properties that RENTED were all 3 different ...
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What happened in the Gates of McLean in December of 2008? Well in terms of Real Estate, here's a recap:There was 1 SOLD property, and 0 (zero) properties that RENTED.The property that SOLD was a 2 bedroom 2 bathroom Preston model. This is the biggest 2 bedroom in the mid-rise buildings (see earlier blog if not sure about mid-rise vs. garden style building). This home sold for $$317,000 with a subsidy of $8,000. So an effective net price to the seller of $309,000. Coincidentally this was a bank owned property.The lack of rental activity is not suprising. December is one of the most unappealing months to move, as people don't often like to move: a) during the winter, or b) close to the holidays. One would think that in a community of so many homes, and 40+ being rented each year, that the...
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December is always a fun month in general. Lots of Holidays, and the coming of the new year. This year was no different. However, all those things are independant of real estate.In the Lillian Court neighborhood in December there was 1 property SOLD, and 4 properties RENTED.The only SOLD property of the month was a 2 bedroom 2 bathroom 1002 square foot Jacob model. It SOLD for $370,000. The property was on the market for 30 days. When first going on the market it had been available simultaneously for RENT or for SALE. It SOLD for 92.5% of it's original list price.Of the 4 properties RENTED in December 2008, 3 were 1 bedrooms, and the other was a 2 bedroom 2 bathroom.The 1 bedrooms rented for an average of $1358/month. With the high rent being $1425/month for a larger model (988 sqft) an...
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The Lillian Court real estate market has 7 properties available right now. 4 of those are for rent, and the other 3 are for purchase.RentThere are 4 completely different homes for rent. And accordingly so, they all have a different rental asking price.- One Bedroom One Bathroom asking $1,350/month- Two Bedroom One Bathroom asking $1,496/month- Three Bedroom Three Bathroom, on Two levels, asking $2,300/month- Two Bedroom Two Bathroom asking $2,500/monthFor PurchaseJust like the properties for rent there are 3 different models for sale, and each has a different asking price to buy.- One Bedroom One Bathroom asking $249,900- Two Bedroom One Bathroom asking $280,000- Two Bedroom Two Bathroom, on Two Levels, asking $349,900(data from MRIS)
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By Jeff Wu
(@Home Real Estate)
I showed a property for sale today. Regardless if my client liked it or not (Which they did). The listing agent said no FHA contracts. That sounds pretty silly. Especially considering that the FHA loan is the bulk of the loans going through these days. It was a bank owned property that was relatively well priced. The listing agent told me that the seller, the bank, didn't want to take the property off the market for an FHA loan/contract that wouldn't happen. He said the community wasn't FHA approved. He is right. It isn't. But there are always exceptions. I know good loan officers who have worked hard to get spot approvals on individual cases. In this community, The Gates of McLean, this seller believs that the high investor ratios of the community prohibit FHA loans from being approved...
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By Ellen Crawford, Alpharetta Real Estate Agents & Alpharetta REALTOR
(Maximum One Executive REALTORS®)
This is a McLean Virginia real estate update for Saturday December 20, 2008.  As of today Saturday December 20, 2008 there are currently 276 homes for sale in McLean Virginia in our MRIS MLS System.  These are fee simple McLean VA homes for sale and detached single family homes.  McLean Virginia is located just to the west of Washington DC in northern Fairfax Virginia and has great proximity to the whole of the Washington DC area.  McLean Virginia has great homes, neighborhoods, and some great subdivisions with reasonably priced single family detached fee simple homes for sale. Below is a current list of activity on single family homes for sale in McLean Virginia. 276  'Active' -  McLean Virginia Homes 2 'Cntg/KO' - McLean Virginia Homes 16 'Cntg/NO KO' - McLean Virginia Homes 13 'Contr...
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Lillian Court sits in a great location in Tysons Corner. It's right next to the Galleria Mall, and across the street from Greensboro Drive, which is home to many of the areas big employers: SAIC, BAE, Booz Allen Hamilton, and more.In November 2008 there were 2 properties SOLD in Lillian Court.The first was a 2 bedroom 2 bathroom home on 2 levels. It had approximately 1200 square feet in total. The home sold for $345,000 in approximately 162 days on the market.The other home to sell in November was a one bedroom one and a half bath property. This property was only on one level. It had approximately 988 square feet. The home sold for $270,000 with a subsidy of $5,000. It sold in approximately 12 days.No properties are showing as having RENTED in Lillian Court in November of 2008.There are...
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