2015
G R E A T
SunGazette
F A L L S
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M c L E A N
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O A K T O N
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V I E N N A
Spring R E A L
E S T A T E
Oakton 3 1 9 5
A R I A N A
G U I D E D R I V E
$2,999,500
LILIAN JORGENSON 703.407.0766
w w w. L I L I A N . c o m
Offered by LILIAN JORGENSON Long & Fosters Realtors®
703-407-0766
Karen Briscoe
Lizzy Conroy
We work with Buyers, Sellers, Investors in ALL Price Ranges. 2013 Banner Year and - Over 80 homes sold!
Shouldn’t webebe working for You? Shouldn’t WE working for YOU in 2014? W NE
6626 McLean Ct.
310 N. Fairfax Street $660,000
Old Town Alexandria
$1,250,000
3904 19th Street S. Arlington
9645 Pullman Pl. Fairfax
$749,000
716 Forest Park Rd.
$699,900
Great Falls
722 Ridge Dr.
N! O LEA T E C OS N M L C OW T WN O D
L ! FU OD R O E ND ORH O B W H IG NE
D! TE S I L
W NE
$775,000
E! IC R P
$1,365,000
ST JU
1613 Aerie Ln. McLean
McLean
! ED T LIS
9605 Tackroom Lane $1,295,000
Great Falls
$1,498,000
ST JU
ME ! HO TED W E NE MPL O C
! ED T LIS
1532 Forest Villa Lane McLean
$1,175,000
ST JU
2306 Stryker Avenue Vienna
$1,595,000
! ED T S LI
A P R I L 2 015
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S! IN RM T A LO Y F E L NG LA
10304 Hickory Creek Court Great Falls
$870,000
1104 Waverly Way McLean
$2,125,000
HBC Realty Group Community Charity Champions has Raised $40,000 for Local Charities and Organizations Over $16,400
703-734-0192
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SPRING REAL ESTATE GUIDE
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SUN GAZETTE
McLean
ST JU
A NN E I V O O! T R E T OS ME CL
CT RA T N ! CO AYS R D DE 6 UN IN
E! IC R P
Bill Detty
Kari Govan
Sue Hazen
Jeanina DiVittorio
Jenny McClintock
w w w. H B C R e a l t y G ro u p . c o m
Serving VA, DC and MD Each Keller Williams Realty office is independently owned and operated.
Real-Estate Pros Lay Out Prospects for Rest of Year DAVE FACINOLI Staff Writer
Kathy Neal has been helping homebuyers in McLean become homeowners for over 30 years. She understands that when you buy a home or refinance it, you don’t need just a mortgage. You need someone who will represent you, care for you and make sure you get what you need. In recognition of her outstanding service to SunTrust Mortgage, Kathy was recently awarded the 2014 Platinum Mortgage Performance Excellence Award. She is also a lifetime supporter of cancer awareness and sponsors Inova’s annual fundraiser to enhance the quality of life of those affected by cancer by providing education, support, and information. We applaud Kathy’s commitment to both SunTrust Mortgage and her community, and are proud to call her one of our own.
Kathy L. Neal Senior Loan Officer 703.906.7039 Cell 703.556.8944 Office
NMLSR # 169588 kathy.neal@suntrust.com suntrust.com/kathy.neal
Equal Housing Lender. SunTrust Mortgage, Inc. - NMLS #2915, 901 Semmes Avenue, Richmond, VA 23224, toll free 1-800-634-7928. CA: licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act, IL: Illinois Residential Mortgage Licensee, MA: Mortgage Lender license #-ML-2915, NH: licensed by the New Hampshire Banking Department, NJ: Mortgage Banker License - New Jersey Department of Banking and Insurance, and RI: Rhode Island Licensed Lender. ©2015 SunTrust Banks, Inc. SunTrust, SunTrust Mortgage and How can we help you shine? are federally registered service marks of SunTrust Banks, Inc. Rev: 4.3.15
ARLINGTON NORTH
$725,000
202-725-0055
Adam RT Tnaib
A P R I L 2 015
2101 Wilson Blvd Suite 100 Arlington VA 22201
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adamt@kw.com
SPRING REAL ESTATE GUIDE
Ready to buy or sell? Give me a call today!
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Sunny and spacious 1535 sqft. two bedroom unit plus den in the popular Park at Courthouse condominiums. Enjoy the open floor plan and gourmet kitchen with granite countertops and stainless steel appliances, gas fireplace, gleaming hardwoods, separate laundry room, 2.5 bathrooms. Both bedrooms have walk-in closets and the master bath has shower and jacuzzi tub. Easy parking with 2 garage spaces, plus an owned storage space. Walk to nearby metro, grocery, movie theater, restaurants and park.
SUN GAZETTE
With the springtime real estate market upon us, the Sun Gazette asked some local real estate experts what is the best-case scenario for the local real estate market in 2015, and what is the worst-case scenario. What factors will help determine how well the market fares this year. Here are their thoughts: Casey Samson, Samson Properties: “The best-case scenario is for the market to just keep being boring. Boring is good. Worst-case scenario is if the government does something stupid, like shutting down for an extended period. The sequester crushed last summer’s market.” Dawn Wilson, Keller Williams: “The best will be if interest rates don’t change in the fourth quarter and the activity is sustained inside the Beltway. Buyers are out there right now. The worst will be if rates rise. That might cool the market and reduce sales.” John Mentis, Long & Foster: “What sticks out is more about first-time buyers this year. Anything $1.3 million and above in the Arlington and McLean areas in general are kind of sitting. That’s kind of a reverse of what was happening last year at this time, and I’m not sure what is making the difference. Where we go from here depends on how the public reacts to the Federal Reserve increasing interest rates.” Dean Yeonas, Yeonas and Shafran Real Estate: “Inside the Beltway there is more inventory coming on the market to satisfy demand. That’s the best case. The worst scenario would be no inventory and prices continue to escalate.” Karen Briscoe, Huckaby, Briscoe, Conroy Realty Group: “We are back up to peak prices, so that’s the best. The only things I see that could be the worst is a flood of inventory and interest rates going up. That could soften and dampen the market, but I don’t see that yet.” Karen Close, Century 21: “The best case is for continued job growth and financial security for everybody wanting to be a family and to buy a home can do so. The worst case would be losing that financial security and the feeling that investing in real estate is not a good thing. You don’t want all of those financial factors to become negatives.” Billy Buck, Buck & Associates: “The best case is interest rates staying low past June. The worst case is they go up sooner. There are always other factors like consumer confidence. On the doom-and-gloom front, any big global event can cause problems, but we can say that anytime.” Donna Moseley, TTR Sotheby’s: “The best would be a 5 to 6 percent increase and the worst would be a flat market. There is a lot of inventory coming on the market right now.” Dee Murphy, Long & Foster: “The best case is for each sale to build on the last and keep going up. The worst would be if the inventory shrinks up.” Eric Ritland, American Realty Group: “The best is there are too many good things going on right now and there is lots of inventory. The worst is we have been
trading in a narrow band for a while, and we don’t want to see interest rates to up.” Mark Middendorf, Long & Foster: “With the winter dragging out, things were off to a slow start this year. But the best is things are taking off like wildfire now, and I think we will see an explosion. The worst is if the Fed raises the interest rates. But the worry of that can motivate buyers.” Steve Wydler, Long & Foster: “With a lot of inventory coming on the market, the best would be a 3 to 5 percent appreciation of homes. The unknown is if the buyers will be there. The worst is we will have a flat market from an appreciation standpoint.” Betsy Twigg, McEnearney Associates: “The best is if the market continues in a positive direction, as it has since January, and keeps getting better. The worst the market below a million dollars slows down.” Jack Shafran, Yeonas and Shafran Real Estate: “The best case is if the interest rates stay low the demand will remain high and it will be a very good year. The worst is if the rates go up, the demand will slow and it will be an average year.” Craig Mastrangelo, Re/Max Allegiance: “It is still wait-and-see to determine if the latter half of 2015 will cool off from the levels of competition we have experienced during the first quarter, where inventory was low, interest rates were low and job growth in Northern Virginia continues to remain strong. Even if interest rates are to begin to rise slightly, the challenge for home buyers is, and has been, the limited choice of inventory.” Joan Stansfield, Keller Williams: “The best-case scenario if you’re a buyer would be that the rates stay low and inventory increases, so prices don’t spike due to shortage of homes. Best case for sellers would be that inventory and rates stay low so they can demand a higher price for their home. The worst case for both buyers and sellers would be an increase in interest rates, which could prevent some buyers from affording a new home, although it might also get some people off the fence, seeing that rates won’t stay this low forever.” David Howell, McEnearney Associates: “The best case: An overall increase in contract activity of 8 to 10 percent, with price appreciation of 6 to 8 percent. In the District, price appreciation could be a bit higher, but contract activity will likely rise by no more than 5 percent. In the suburbs, price appreciation won’t be quite as high. The worst case: price appreciation is 2 to 3 percent overall, with an increase in contract activity of 5 percent or less. The same dynamics apply, with higher price appreciation in D.C., and contract activity could actually decline modestly.” Natalie Roy, Keller Williams: “Best case is that the nation’s strong jobs growth will continue. Coupled with a positive economy, the 2015 housing market should prove to be robust and thriving, particularly in the Arlington area. New loan products offering first time buyers, with good credit and limited assets, the opportunity to make smaller down payments. Worst case is mortgage rates rise dramatically. Higher mortgage rates impact whether people can apply successfully for the loan they want. Less buyers mean less sellers.”
Leading the way home.
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Year-over-year home sales surged in Arlington in March, while average sales prices were up slightly, as the market made its transition from the slower winter season to the stronger spring/summer season. A total of 219 residential properties changed hands across the county during the month, according to figures reported April 10 by RealEstate Business Intelligence, an arm of the local multiple-listing service. That’s up nearly 25 percent from the 176 transactions recorded a year before. The average sales price of all properties was up 1.3 percent to $628,483, with modest increases reported in each of the three segments of the market: • The average sales price of single-family homes rose 0.7 percent to $919,858. • The average sales price of attached homes, such as townhouses and rowhouses, was up 1.1 percent to $454,083. • The average sales price of condominiums was up 4.7 percent to $422,006. The median sales price of all homes that sold during the month rose 10.7 percent to $570,000. The median represents the point at which half of homes sell for more, half for less. There were 30 million-dollar-ormore sales reported in the county last month. Put together the higher sales and increase in prices, and the total sales volume for March rose 26 percent, to
$137.6 million. Homes that went to closing in March spent an average of 49 days on the market, up from the 35 days between listing and ratified sales contract for homes that sold a year before. They garnered 98.7 percent of original listing price, up from 98.2 percent a year before. Of homes that sold, conventional mortgages represented the method of transaction in 161 cases, followed by cash (25) and VA-backed mortgages (20). Inventory of homes on the market was up 29 percent from a year before, with 510 properties listed for sale. Where is the market headed? Data suggest a good, but not great, spring: Pending sales in March were flat compared to a year before, while the number of homes coming under contract was down. Figures represent most, but not all, homes on the market. All figures are preliminary, and are subject to revision. Sales and Prices Up Across Northern Virginia: Year-over-year home sales across Northern Virginia posted a double-digit increase in March, while average sales prices also were higher, according to new figures. A total of 1,538 properties went to closing during the month, according to figures reported April 10 by RealEstate Business Intelligence, an arm of the local multiple-listing service. That’s up 13.8 percent from the 1,351 transactions of March 2014.
(Figures represent Arlington and Fairfax counties and the cities of Alexandria, Fairfax and Falls Church.) The average sales price of all homes that sold during the month was $548,1010, up 2.7 percent from a year before. All three legs of the market showed increases: • The average sales price for single-family homes rose 0.7 percent to $730,428. • The average sales price of attached homes, such as townhouses and rowhouses, was up 3.6 percent to $406,245. • The average sales price of condominiums was up 1.8 percent to $336,263. The median sales price of all homes that went to closing was $475,000, an increase of 4.4 percent. There were 109 million-dollar sales across the region during the month. Add up the increases in sales and prices, and the total market volume for March stood at $843 million, up 17 percent from $720.8 million a year before. Homes that sold during the month spent an average of 62 days on the market, up from 45, and garnered 97.4 percent of listing price, down from 97.9 percent. Conventional financing was the method of transacting sales in 972 cases, followed by cash (193), VA-backed mortgages (182) and FHA-backed loans (158). Inventory continued to run higher than 2014, giving prospective purchas-
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ers more properties to look at. At the end of the month, there were 3,833 properties on the market, up 27 percent from a year before. Where is the market headed in coming months? General trends look good, with pending sales in March up 8.8 percent from a year before. On the down side, the number of homes coming under contract was off 8.2 percent. Figures represent most, but not all, homes on the market. All figures are preliminary, and are subject to revision. Sales Up, Average Price of SingleFamily Homes Down in D.C., Inner Core: An increase in total sales and average prices pushed year-over-year real estate sales volume up 17.2 percent in D.C. and its inner suburbs in March. A total of 3,662 properties changed hands during the month, up 15.6 percent from the 3,168 properties that went to closing in March 2014 and the highest March sales total since 2010, according to figures reported April 10 by RealEstate Business Intelligence, an arm of the local multiple-listing service. (Figures represent sales in the District of Columbia; Arlington and Fairfax counties and the cities of Alexandria, Fairfax and Falls Church in Virginia; and Montgomery and Prince George’s counties in Maryland.) Average sales prices also rose, though not at the same trajectory, with the overall average price of $482,534 up 1.3 per Continued on Page 32
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3008 Westhurst Lane Oakton, VA 22124
Offered at $2,300,000
2740 Hill Road Vienna, VA 22181
Offered at $825,000
9705 Chilcott Manor Way Vienna, VA 22181
Offered at $1,200,000
43094 Rocky Ridge Court Leesburg, VA 20171
Offered at $869,900
3402 Blakesley Hall Court Oak Hil, VA 20171
Offered at $1,199,000
3707 Sumter Court Fairfax, VA 22033
Offered at $525,000
A P R I L 2 015
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SPRING REAL ESTATE GUIDE
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SUN GAZETTE
Home Sales, Prices Show Health Heading Into Spring
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Shirley Buford
Long & Foster Real Estate Cell: 571-238-7800 www.shirleybuford.com
Corbett Buford
Long & Foster Real Estate Direct: 703-244-8882 Corbett@teambuford.com
839 Towlston Rd McLean, VA 22102
Offered at $2,600,000 also shown by Jon DeHart 703-405-7576
!!!!!!!!!Jack!!!!!!!!!!!!!!!Fouad!!!!!!!!!Pascale! !!!!!!!!Spahr!!!!!!!!!!!!Talout!!!!!!!!!!Karam! GORGEOUS!POOL!
RENEWABLE!ENERGY!
NEW!GREAT!FALL!SUBDIVISION!
BORDERS!GOLF!COURSE!
POTOMAC!RIVERFRONT!
McLean!!!!!!!!!!!!!!!$4,750,000! www.8701OldDominion.com!
McLean!!!!!!!!!!!!!$6,950,000!
5!Homes!from!!$2,999,000! www.HortensePlace.com!
McLean!!!!!!!!$1,980,000! www.6130Kinyon.com!
Herndon!!!!!!!!!$5,588,000! www.11705Sugarland.com!
Great!Falls!!!!!!!$2,999,000! www.353Springvale.com!
McLean!!!!!!!!!$2,399,900! www.1056SwinksMill.com!
McLean!!!!!!!!!!!!!!!!$4,480,000! www.1149Bellview.com!
!McLean!!!!!!!!!!!!!!$8,900,000! Luxury!Living!
McLean!!!!!!!!!!!!!!$7,900,000! www.7020GreenOak.com!
McLean!!!!!!!!!!!!!!!$8,950,000! www.1200Ballantrae.com!
Great!Falls!!!!!$2,495,000!
McLean!!!!!$790,000!
Great!Falls!!!!!!!$2,200,000!
Great!Falls!!!!!$1,500,000!
McLean!!!!!!!!!!!!!!$2,998,000!
McLean!!!!!!!!!$10,950,000! www.1036Towlston.com!
Great!Falls!!!!!!!!$1,595,000! COMING!SOON!!
Great!Falls!!!$1,745,000! www.9715BeachMill.com!
Oakton!!!!!!!!!!!!!!!!$2,485,000! www.2909ChainBridge.com!
Myersville,!MD!!!$2,950,000! www.10018Wolfsville.com!
A P R I L 2 015
COMING!SOON!!
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!!
McLean!!Price!upon!request!
SPRING REAL ESTATE GUIDE
Great!Falls!!!!$4,300,000!
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PERFECT!GET!AWAY!
SUN GAZETTE
Vienna!!!!!!!!!!!!$2,499,000! www.2310HunterMill.com!
McLean!!!!!!!!!!!!!!!$6,500,000! www.703PotomacKnolls.com!
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Enjoy European-Style Villa Living in Vienna Italian-Inspired Stunner Complements a Renaissance in Nearby Tysons
A P R I L 2 015
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SPRING REAL ESTATE GUIDE
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SUN GAZETTE
Featured Property
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“Enchantment” is the watchword for our featured property, set in the heart of the Town of Vienna near Glyndon Park, yet showcasing the elegance of an Italian villa with superb features, upscale accoutrements and a verdant lot of nearly a full half-acre. Set amid an ever-changing real estate landscape, the Montevarchi Villa reigns with a serenity and grace. From the architect’s original vision to the builder’s final touches, the aim was to set the standard of elegance while providing easy access to all of Northern Virginia, including the fast-evolving Tysons area less than two miles away. The property currently is on the market, listed at $2,295,000 by Lilian Jorgenson of Long & Foster Real Estate. Constructed just eight years ago, the property nonetheless has witnessed exceptional change on the “storybook lane”
it occupies. Homes of a variety of styles – from those influenced by Craftsman properties of the past, to Cape Cods, to subtle contemporaries – have augmented the overall ambiance. Our featured property stands tall, with its handsome mixtures of wood and stone, mouldings and trim. Beyond the aesthetic effort, there was a desire to make this a home for all generations and all ages. The main-level master suite and an upper-level recreation room are among the features that set the home apart. There are nods to tradition, as well – the living room and dining room flank the welcoming foyer, as one example. But there are so many things that set the home apart, from the Hunt Countrystyle, double-sided stone fireplace to the two-level deck area with its own outdoor fireplace. The standout Habersham Kitchen is a
testament to quality design and eye-popping appeal, while the adjacent morning area is the perfect spot to start or end a busy day. The sumptuous master retreat on the main level is augmented by an astounding walk-in closet, glorious bath and its own private deck area. Towering arched windows allow nature’s bountiful sunlight to fill the Hearth Room, which overlooks the rear of the domains, while the family room celebrates grace and style, with a cathedral ceiling overhead. The second level is home to three bedroom suites (one with a 13-foot-long walk-in closet), as well as the studio/retreat/rec room space. Laundry facilities are located here, as well. The amenities continue in the lower area, which has its own entrance. Here, you will find a club room with billiards
area; a large rec room; home theater; club-style bar; and a flex space that works exceptionally well as a home office or fifth bedroom. Articles are prepared by the Sun Gazette’s real estate advertising department on behalf of clients. For information on the home, contact the listing agent. For information on having a house reviewed, contact the Sun Gazette’s real estate advertising department at (703) 738-2520.
Facts for buyers Address: 334 Ayr Hill Avenue, N.E., Vienna (22180). Listed at: $2,295,000 by Lilian Jorgenson, Long & Foster Real Estate (703) 790-1990. Schools: Vienna Elementary, Thoreau Middle, James Madison High School.
Selling * Buying * Renting Ranked #135 NATIONWIDE in REAL Trends’ Top 250
Sold more than 1,900 homes for a dollar volume more than $1.25 Billion dollars! McLean 703-790-1990
Over 28 years of real estate experience.
703-407-0766
www.Lilian.com
MCLEAN
$3,750,000
OAKTON
VIENNA
$2,975,000
VIENNA
OAKTON
CLIFTON
$2,950,000
LEESBURG $2,699,000
MCLEAN
$2,299,000
$1,999,999
VIENNA
$1,900,000
MCLEAN
VIENNA
$1,799,000
$1,749,000
MCLEAN
$1,625,000
$3,295,000
CLIFTON
$1,799,000
$1,569,000
OAKTON
$1,499,999
SUN GAZETTE
VIENNA
$2,999,500
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LEESBURG $1,459,000
MCLEAN
$1,450,000
RIVER CREEK
MCLEAN
LEESBURG $1,445,000
BEACON HILL
$1,349,000
CLIFTON
$1,049,000
VIENNA
ARLINGTON $1,379,000
ALSO FOR RENT - $5,000
$975,000
VIENNA
$925,000
SPRING REAL ESTATE GUIDE
ALSO FOR RENT - $6,950
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McLean Sales Office, 1355 Beverly Road, Suite 109 * 703-790-1990
A P R I L 2 015
Ranked #135 NATIONWIDE in REAL Trends’ Top 250 Sold more than 1,900 homes for a dollar volume more than $1.25 Billion dollars!
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Whoa, whoa, whoa: What do you mean, Arlington and Fairfax County don’t have any of the region’s hottest, trendiest emerging neighborhoods? Alas, that’s the conclusion of the researchers at the housing Web site Redfin, which have looked into their crystal ball and predicted the hottest neighborhoods of the coming year not just in Washington, but in 27 major metropolitan areas across the country. What defines a “hot” neighborhood? Relying on both statistical data and on-the-ground reporting, the analysts are looking not only at neighborhoods where there is plentiful interest among buyers, but, this year in particular, where there is value to be found. “Many homebuyers have recoiled from the dramatic increase in house prices in urban centers posted over the past three years,” said Redfin chief economist Nela Richardson. “They are now looking for more affordable places.” That affordability quest appears to be pushing buyers further out into the suburbs (which goes against the grain of recent conventional wisdom suggesting buyers want in-town or close-to-town locations). Three of the five hottest neighborhoods in the D.C. region are, in fact, in outlying areas: downtown Frederick, Md.; Cascades (Sterling); and Stone Ridge North (Aldie). They ranked fifth, fourth and third on the list, respective-
ly.
While the desire for affordability means the “hot” list of 2015 tends to focus on cities not directly in the bull’s-eye of a metropolitan area, Redfin does not rule out a rebound of the urban areas, as long as mortgage rates stay low. “Rock-bottom mortgage rates and a more lenient mortgage-lending environment help make home-ownership in expensive cities less costly,” Richardson said. For the full report, see the “Research” section of www.redfin.com.
PUBLISHER’S NOTICE EHO
We are pledged to the letter and spirit of Virginia’s policy for achieving equal housing opportunity throughout the Commonwealth. We encourage and support advertising and marketing programs in which there are no barriers to obtaining housing because of race, color, religion, national origin, sex, elderliness, familial status or handicap. All real estate advertised herein is subject to Virginia’s fair housing law which makes it illegal to advertise “any preference, limitation, or discrimination because of race, color, religion, national origin, sex, elderliness, familial status or handicap or intention to make any such preference, limitation, or discrimination.” This newspaper will not knowingly accept advertising for real estate that violates the fair housing law. Our readers are hereby informed that all dwellings advertised in this newspaper are available on an equal opportunity basis. For more information or to file a housing complaint call the Virginia Fair Housing Office at (804) 367-9753. Email: fairhousing@dpor.virginia.gov. Web site: www.fairhousing.vipnet.org
JOHN JORGENSON CELL: 703-321-2000 • OFFICE: 703-352-3000 • www.GoWithJohn.com • NVAR Top Producer
2014 $32,816,992 / 2013 $28,651,317 / 2012 $26,085,579 / 2011 $20,965,325 / 2010 $17,446,645 D!
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207 Jackson Street, Falls Church
$1,360,000
2602 Hannah Farm Ct, Oakton
604 Hillwood Ave, Falls Church
$1,274,000
11611 Vale Road, Oakton, VA
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10709 Orchard Street, Fairfax
$949,900
11618 Ivystone Court, Reston
$279,000
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SPRING REAL ESTATE GUIDE
Ridge, Brighton Park, Lakeshore Historic District, Ishnala. Dallas: City Center, Crestline, Meadows West, Devonshire, Oak Creek. Long Island: Bohemia, Kings Park, Smithtown, Huntington Village, South Bellmore. Los Angeles: Fox Hills, California Heights, Cheviot Hills, Leimert Park, Jefferson. Miami: Wynwood Art District, Coral Terrace, South Golden Glades, Buena Vista, Golden Pines. Philadelphia: Dickinson Narrows, Northern Liberties, Girard Estate, Fairmount Park, Kensington. San Diego: El Cerrito, Point Loma, Torrey Highlands, Clairemont Mesa Estate, Park West. Seattle: Woodbridge, Bryan, Rainier Beach, Rainier View, Bitter Lake. Ranking at the No. 1 hottest neighborhood nationally is El Cerrito in San Diego. The community sits on the perimeter of more pricey locales and is a “relatively undiscovered jewel,” said analyst Rebecca Roman. The neighborhood offers “a good mix of recently updated, yet still affordable, homes and some pockets of extreme affordability that is drawing in developers and investors.” “This charming little neighborhood also boasts some good dining and shopping options,” Roman said.
At No. 2 was Randolph Hills, a community in Rockville that may not be exactly in the central core, but provides good transit options and has a relatively low ($375,000) median sales price. At the top of the ranking? Woodbridge, a community in the northeastern corner of the District of Columbia. “This neighborhood has a decidedly residential fee, yet offers quick access to downtown via Rhode Island Avenue,” said analyst Katie Scire. “Buyers are drawn to the diverse housing stock, which includes a mix of Craftsman bungalows and brick colonials from the 1920s and ’30s.” The homes are more affordable than comparable homes in Brookland, which was a hot market for buyers in 2014, Scire said. Let’s say you’re considering a move or real estate purchase in other major cities. Where might Redfin point you? Among the hot neighborhoods from its ranking: Atlanta: East Atlanta, MorningsideVirginia Highland, East Lake, Dunwoody Club Forest and Towne Lake. Baltimore: Upper Fells Point, Resorvoir Hill, Wilde Lake, Mays Chapel Village, Waltherson. Boston: Inman Square, West Medford, West Cambridge, Central Square, Newton Centre. Chicago: Andersonville, Garfield
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SUN GAZETTE
Where are the Hot, Hip Neighborhoods of 2015?
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$624,900
703-321-2000 McLean Sales Office
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Long & Foster, Realtors®
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1355 Beverly Road, Suite 109, McLean, VA 22101
Call Today for a Free Market Analysis and Discuss My 22-Point “Dynamic” Marketing Plan! 703-328-6722—Lee Cronin McLean
$849,000
Vienna
$850,000
Vienna
$875,000
Centreville
$664,000
Rockville
$695,000
Arlington
$985,000
Brought Buyer
LD
SO
$1,050,000
Brought Buyer
Brought Buyer
Alexandria
LD
SO
LD
Falls Church
LD
SO
SO
$975,000
McLean-Park Crest
$1,299,900
LD
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SPRING REAL ESTATE GUIDE
$1,299,000
$1,280,000
SO
LD
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Alexandria
$1,549,900
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LD
Vienna
SUN GAZETTE
McLean
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Lee Cronin, Keller Williams Realty GRI, Top 5% Nationwide Realtor | 703-328-6722 (Direct) Licensed in VA, DC & MD | Lee.Sold@mris.com | www.LeeSold.com
A P R I L 2 015
6820 Elm Street McLean, VA 22101
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the
YERKS team
Karina Mallona, Penny Yerks, Piper Yerks Gioia AN S LE OL C O M H SC
Falls Church
R T DE AC UN TR N CO
$1,575,000 McLean AL RI OK O M LO ME VER O
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$2,499,000 Arlington
SPRING REAL ESTATE GUIDE | A P R I L 2 015
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R T DE AC UN TR N CO
$999,000 McLean LD SO
$2,899,000 McLean
$1,999,000
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$1,795,000 Alexandria
$3,985,000 McLean
$2,635,000
$1,300,000 McLean
$1,649,000 McLean
$1,349,000
R T DE AC UN TR N CO
McLean
$2,150,000 Great Falls
GOLD COAST
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SUN GAZETTE
McLean
OVER TWO BILLION IN SALES, ONE OF THE HIGHEST PRODUCING TEAMS IN THE COUNTRY
McLean
$9,995,000 McLean
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$2,500,000 McLean LD SO
Great Falls
$2,499,000 Falls Church
$1,999,999 McLean
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$5,600,000 McLean
$2,000,000
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$2,975,000 McLean
$7,775,000
the
YERKS team
703-760-0744 Anjanette Murphy Buyers Agent
WWW.YERKS.COM
OVER 30 YEARS EXPERIENCE. LOCAL EXPERTISE. INTERNATIONAL. EXPOSURE. WHETHER BUYING OR SELLING, CALL US TODAY!
Realtor Group Is Working to Ensure Safety in the Industry
703.967.0909 A skillful negotiator with over 30 years of experience in the Northern Virginia real estate market, Lori is dedicated to the success of her clients.
When you want results, call Lori!
Lori Shafran
Yeonas & Shafran Real Estate LoriShafran@gmail.com www.YeonasAndShafran.com The Sun Gazette has been the community’s source for news and information for several generations. Catch all the news, in print or on the Web, and stay up to date locally.
Eileen Summers 703.244.3190 Karen Washburn 703.598.2841 Twee Ramos 703.217.0200
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Karen Washburn -- Long & Foster great FaLLs #1 top producer 2013 & 2014
renSSelaer Ct, vienna $565,000 L
walker roaD, great FallS $2,650,000
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720 ellSworth, great FallS $675,000
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Connemara Drive Sterling
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SPRING REAL ESTATE GUIDE |
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Long & Foster reaL estate, Inc. 9841 georgetown PIke great FaLLs, Va 22066 703-759-9190
Colter Ct, aShBurn $664,900
BranDenBurg Ct, great FallS $929,000
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The Sun Gazette and its predecessors have been on top of the local real estate scene since the 1930s, and the situation continued both in print and on the Internet. You can find full coverage of the local, regional and state markets by the most seasoned teams of localnews pros in the area. We’ve got the full story for you every single week of the year.
Lori Shafran
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sures in place or they were not aware of them. The safety of its members is a top priority for NAR, and the association will continue to expand its Realtor Safety Program in 2015 by unveiling new materials and applications for members and associations throughout the year. NAR established the Realtor Safety Program to empower and inform members of the potential risks they face in this profession and how to navigate them safely. Webinars, safety materials and tips are all made available through the program, with the entire month of September dedicated to bringing more awareness to Realtor safety among members.
Call Your Neighborhood Real Estate Specialist
SUN GAZETTE
A new survey from the National Association of Realtors found 96 percent of Realtors have never been the victim of crime, but 40 percent have found themselves in situations where they have feared for their safety or the safety of their personal information. Some of the most common circumstances that resulted in fearful situations were open houses, showing vacant and model homes, working with properties that were unlocked or unsecured and showing homes in remote areas. “When I became NAR president last year, I pledged to make Realtor safety a priority and develop new education and resources for the industry,” said NAR president Chris Polychron, executive broker with 1st Choice Realty in Hot Springs, Ark. “It is important to know how safe or unsafe our members feel, what causes them to feel unsafe, and what steps they are taking to keep themselves out of harm’s way, so that we can respond and provide the best tools tailored to our members’ personal safety needs.” The survey asked members how safe they feel while on the job and nearly 3,000 Realtors from across the U.S. answered questions about their personal experiences, and the safety procedures and materials provided by their brokerage. The survey found that one-third of surveyed members carry a self-defense weapon. Female Realtors are more likely to carry pepper spray, while male Realtors more commonly carry a firearm. Many agents, 38 percent, have participated in self-defense classes as a proactive safety measure, and 13 percent use a smart phone safety application to track their whereabouts or alert colleagues of an emergency. Also, before showing a property, the typical Realtor meets about half of their prospective buyers, whom they haven’t previously met, in a real estate office or other neutral location. Many Realtor associations, real estate brokerages and offices also make safety resources available to agents. Eighteen percent of members have participated in safety courses provided by their Realtor association. Forty-six percent of respondents said their brokerage has standard procedures for agent safety in place; however, 54 percent said their brokerage either had no safety mea-
Buying or Selling a Home?
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Florida was home to the nation’s fastest growing metro area from 2013 to 2014, according to new U.S. Census Bureau population estimates. The Villages, located to the west of the Orlando metro area, grew by 5.4 percent between July 1, 2013, and July 1, 2014, to reach a population of about 114,000. State population estimates released in December revealed that Florida had become the nation’s third most populous state. The new estimates show Florida’s growth to reach this milestone was propelled by numerous metro areas and counties within the state. Florida contained seven of the nation’s top 50 numerically gaining metro areas between July 1, 2013, and July 1, 2014, and these areas accounted for more than threequarters of the state’s population gain over the period: • Miami-Fort Lauderdale-West Palm Beach (with a one-year gain of about 66,000). • Orlando-Kissimmee-Sanford (about 50,000). • Tampa-St. Petersburg-Clearwater (about 41,000). • Jacksonville (about 23,000). • Cape Coral-Fort Myers (about 18,000). • North Port-Sarasota-Braden-
ton (about 16,000). • Lakeland-Winter Haven (about 11,000). In addition, eight counties within these metro areas were among 50 counties nationwide that gained the most population between 2013 and 2014. Collectively, these counties accounted for more than half of the state’s population gain over the period: • All three counties in the Miami-Fort Lauderdale-West Palm Beach metro area: Broward (with a population gain of about 24,000 over the period), Palm Beach (about 22,000) and Miami-Dade (about 21,000). • Two counties in the OrlandoKissimmee-Sanford metro area: Orange (about 26,000) and Osceola (about 11,000). • One county in the Tampa-St. Petersburg-Clearwater metro area: Hillsborough (about 22,000). • The single counties that comprise the Cape Coral-Fort Myers and Lakeland-Winter Haven metro areas: Lee (18,000) and Polk (11,000), respectively. Furthermore, six metro areas in Florida were among the 20 fastest-growing in the nation between 2013 and 2014. In addition to The
Seeking the Sunshine Six of the 20 Fastest-Growing Metro Areas by Percent Change from July 1, 2013 to July 1, 2014 are in Florida Population Estimate as of July 1, 2014
The Villages, FL Myrtle Beach, SC-NC Austin, TX Odessa, TX St. George, UT Cape Coral, FL Bend, OR Greeley, CO Midland, TX Naples, FL Houston, TX Fort Collins, CO Hilton Head Island, SC Daphne, AL Raleigh, NC Orlando, FL Charleston, SC North Port, FL Panama City, FL Boise, ID
5.4
3.2 3.0 2.9 2.9 2.7 2.7 2.6 2.6 2.5 2.5 2.4 2.4 2.4 2.3 2.2 2.2 2.2 2.2 2.1
114,350 417,668 1,943,299 153,904 151,948 679,513 170,388 277,670 161,290 348,777 6,490,180 324,122 203,022 200,111 1,242,974 2,321,418 727,689 748,708 194,929 664,422
Source: 2014 Population Estimates Some metro area titles have been abbreviated. Metro areas delineated by the Office of Management and Budget as of February 2013
Continued on Page 34
SETTING YOU UP FOR SUCCESS
Hoda Martorana, REALTOR® 703.980.4096
Making sure your homes first impression is the best impression • Experienced in handling stressful moving parts associated with selling your home • Pre-sales checklist to help maximize your home’s value • Connected to vast network of vendors to help with your real estate needs • Assistance with staging your home • Skilled negotiator
ACTIVE
SOLD
1312 McLean Crest Court $1,100,000 3 Beds/4FB/1HB
1450 Emerson Avenue #311 $1,190,000 2 Beds/2FB/1HB
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Influx of Residents Moves Florida to No. 3 in Population
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At your service,
Hoda Martorana
cell 202.390.1220 office 703.790.1990 email hoda@mris.com
www.BuySellMcLean.com Source, MRIS 2015. If your home is currently listed, this is not intended as a solicitation of that listing. Information is deemed reliable but is not guaranteed. Not all properties are listed/sold by this advertised agent or broker.
®
Thinking of buying or selling? Contact us today!
(703) 919-7761
www.stansfieldsignature.com
JUST LISTED LIST PRICE: $539,900
ASHBURN
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JUST LISTED LIST PRICE: $800,000
All Homes Marketed Globally
Joan tansfield Realtor,® Owner
• Global Property Specialist • Certified Luxury Homes Marketing Specialist 6820 ELM STREET • MCLEAN,VA 22101 Phone: 703-636-7300 Fax: 703-636-7301 Each office independently owned & operated.
OVER $100 MILLION SOLD! TOP 1% OF AGENTS NATIONWIDE!
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Top 1% of Agents Nationwide! OVER $100 Million SOLD!
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For home tours & more listings, visit our website! www.StansfieldSignature.com
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2014: $584,386 +5.9%
Get Ready: Population of Region Will Grow Steadily
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SUN GAZETTE
This Virginia Employment Commission graphic shows portions of Virginia that are within metropolitan areas.
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Think the Washington area is crowded now? Imagine what it will be like with nearly 1.6 million more people jockeying for space. That’s the projection of the Metropolitan Washington Council of Governments, which expects the region’s population to rise from 5.05 million in 2010 to 6.62 million in 2040 – a growth rate of 31 percent. The projections, presented to the COG board of directors in February, anticipates the most significant growth to occur in two bands – the “central jurisdictions” of the District of Columbia, Alexandria and Arlington, and the outer suburbs. Each of those categories are expected to experience growth rates of more than 40 percent during the 30-year period, while the inner suburbs – including Fairfax, Prince George’s and Montgomery counties – are expected to see lower growth rates. Virginia jurisdictions are expected to outpace their Maryland counterparts in population growth, rising 37 percent to 3.23 million inhabitants by 2040. That means an additional 873,000 Northern Virginians vying for housing, schools and the morning and evening commutes. Of all jurisdictions in the region, Charles County, Md., is expected to have the highest rate of growth, at 55.5 percent, followed by Loudoun County at 55.1 percent. Rounding out the top five are the District of Columbia (46.8 percent), the city of Gaithersburg (41.8 percent) and the city of Falls Church (40.3 percent). Fairfax County would retain its title of largest jurisdiction in the region, with its 2010 population of 1.08 million expected to expand to 1.36 million by 2040, an increase of 25.8 percent. Arlington County’s 2010 population of 207,600 is predicted to grow to 283,000, an increase of 36.3 percent. The numbers, as well as a forecast of job growth across the region, are slated for a major update in 2016, which could reflect “more significant” changes – and not necessarily positive ones, as they will take into account the recent flattening of the region’s economy. The forecasts are designed to help planners develop and implement longrange transportation plans through the
National Capital Region Transportation Planning Board. They have been developed jointly by COG and local planning departments since 1975. Two Counties Added to Washington Metro Area: The Washington metropolitan area has expanded. The federal government’s Office of Management and Budget has added Culpeper and Rappahannock counties to those included in the metro corridor, which in federal-government lexicon is known as the “Washington-ArlingtonAlexandria, DC-VA-MD-WV Metropolitan Statistical Area.” With the new inclusions, the Virginia portion of the Washington metro area consists of 11 counties (Arlington, Clarke, Culpeper, Fairfax, Fauquier, Loudoun, Prince William, Rappahannock, Spotsylvania, Stafford and Warren) and six cities (Alexandria, Fairfax, Falls Church, Fredericksburg, Manassas and Manassas Park). The addition of Culpeper and Rappahannock counties is in response to revised standards for determining which localities fall within a metropolitan area, based on data from the 2010 federal census. The geographic boundaries are used by the Bureau of Labor Statistics in reporting employment and unemployment figures. As part of its revision, federal officials have upgraded Staunton-Waynesboro to a metropolitan area. It joins Virginia’s other metro conglomerations: Blacksburg/Christiansburg/Radford, Charlottesville, Harrisonburg, Kingsport/Bristol, Lynchburg, Richmond, Roanoke, Virginia Beach/Norfolk/Newport News, Washington and Winchester. All meet federal criteria of combined populations of more than 50,000 people. The Danville metropolitan area has been reclassified as a “micropolitan area,” for regions with populations of at least 10,000 but less than 50,000. Federal officials say that about 6.9 million Virginians, or 85 percent of the commonwealth’s total population, live in metropolitan areas. Eighty of Virginia’s 133 cities and counties are located in metro areas. A complete list of changes to Virginia’s metro-area definitions can be found on the Virginia Employment Commission Web site at www.virginialmi.com.
1st Quarter Fairfax Home Sales Data from RealEstate Business Intelligence, and includes most, but not all, home sales across the county during the month.
Sales January February March 1st quarter
2015 705 764 1,091 2,560
2014 677 789 966 2,432
Change +4.1% -3.2% +12.9% +5.3%
Volume January February March 1st Quarter
$371,384,410 $393,382,007 $578,401,883 $1,343,168,300
$332,504,747 $394,314,537 $503,416,283 $1,230,235,567
+11.7% -0.2% +14.9% +9.2%
A Solid 1st Quarter for County Real Estate Sales Avg. price 2015: $524,675 2014: $505,853 +3.7%
Soft February sales figures were more than made up for with strong data from January and March in the Fairfax real estate market, with the first quarter of 2015 ending in strong shape compared to a year before. A total of 2,560 properties went to closing in the January-February-March time frame, up 5.3 percent from the 2,432 sales a year before, according to figures from RealEstate Business Intelligence, an arm of the local multiplelisting service, and analyzed by the Sun Gazette. Both January and March saw yearover-year sales gains, with the 705 transactions in the first month of the year up 4.1 percent and the 1,091 in the third month up 12.9 percent. In between, the market caught its breath – sales were off 3.2 percent to 764.
The average sales price for homes that sold across the county was $524,675 during the first quarter, up 3.7 percent from $505,853 a year before. Total sales volume for the quarter rose 9.2 percent to $1.34 billion. Similar growth trends were found across the region. Arlington County posted a quarterly sales total up 8.9 percent from the year before, and saw average sales prices rise 5.9 percent to $618,691. In the inner Northern Virginia region – Arlington and Fairfax counties and the cities of Alexandria, Fairfax and Falls Church – sales for the quarter totaled 3,609, up 7.7 percent, while the average sales price of $543,686 was up 5.2 percent. Figures represent most, but not all, sales during the period.
Builder Confidence Down a Bit But Remains Relatively Healthy Builder confidence in the market for newly built, single-family homes in March fell two points to a level of 53 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), released in March. “Even with this slight slip, the HMI remains in positive territory, and we expect the market to improve as we enter the spring buying season,” said NAHB chairman Tom Woods, a home builder from Blue Springs, Mo. “The drop in builder confidence is largely attributable to supply chain issues, such as lot and labor shortages as well as tight underwriting standards,” said NAHB chief economist David Crowe. “These obstacles notwithstanding, we are expecting solid gains in the housing market this year, buoyed by sustained job growth, low mortgage interest rates and pent-up demand,” Crowe said. Derived from a monthly survey that NAHB has been conducting for 30 years, the NAHB/Wells Fargo Housing Market Index gauges builder perceptions of current single-family home sales and sales
expectations for the next six months as “good,” “fair” or “poor.” The survey also asks builders to rate traffic of prospective buyers as “high to very high,” “average” or “low to very low.” Scores for each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view conditions as good than poor. Two of the three HMI components posted losses in March. The component gauging current sales conditions fell three points to 58 while the component measuring buyer traffic dropped two points to 37. The gauge charting sales expectations in the next six months held steady at 59. Looking at the three-month moving averages for regional HMI scores, the Northeast and South each posted a two-point drop to 43 and 55, respectively. The Midwest rose two points to 56, while the West fell seven points to 61. HMI tables can be found at www. nahb.org/hmi. More information on housing statistics is also available at www.housingeconomics.com.
The Sun Gazette is your source for real estate news
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PRIME MCLEAN LAND IS LIKE A RED DIAMOND, RARELY FOUND ARTISAN LAND AVAILABLE
MACKALL FARMS TURKEY RUN ROCKLAND TERRACE SPRING HILL FARM LANGLEY FOREST
But we endeavor every day to find these exclusive opportunities, And we have more to offer you then anyone else. So when it is time to build your Masterpiece, call a true Artisan Inquires direct to Stephen Yeonas Jr. at 703-328-0324 or syeonas@artisanbuilds.com
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BOYLE LANE
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6682 Elm Street | McLean, VA 22101 | 703.328.0324 | artisanbuilds.com
Home Celebrates ‘Sagatov Style’ in McLean
7,500 Square Feet of Craftsmanship Is Nestled on a Large, Verdant Lot Featured Property
| zette’s real estate advertising department at (703) 738-2520.
Facts for buyers
Over 2.5 Billion Sold
KNOWLEDGE
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EXPERIENCE
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TRUST
A P R I L 2 015
Address: 7112 Elizabeth Drive, McLean (22101). Listed at: $2,795,000 by Casey Margenau, Casey Margenau Fine Homes & Estates (703) 442-8600. Schools: Churchill Road Elementary, Cooper Middle, Langley High School.
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adding to the flexibility. Creative inside and out, this home soon will take its place among other standouts of the local area, further burnishing the reputation of one of the area’s top builders. Well worthy of consideration! Articles are prepared by the Sun Gazette’s real estate advertising department on behalf of clients. For information on the home, contact the listing agent. For information on having a house reviewed, contact the Sun Ga-
SPRING REAL ESTATE GUIDE
ing is custom mill poplar, which sets his homes apart.) The kitchen is a standout, with not one but two islands (the second featuring a breakfast bar), Wolf and Subzero appliances, views of the rear yard and a morning area. In both small touches and overall impact, it’s a sumptuous space. The large family room is a delight, with exceptional open spaces and a double-sided fireplace that is shared with a screened porch that features windows on three sides and access to the rear yard. The master retreat is the highlight of the upper level, with more exceptional vistas over the grounds. The bedding area offers a tray ceiling and gorgeous fireplace. Adjacent is the showstopper bath, and there is plentiful closet space. Three additional bedroom suites are found on this level, along with a large laundry room with two washers and dryers. Amenities continue on the lower level, where the astounding large recreation room with a fireplace. Also on the lower level, you will find a large exercise area, a hobbies area that provides plentiful storage opportunities, and the home’s fifth bedroom suite, with full bath, walk-in closet and even a morning kitchen. The lower level has its own access,
SUN GAZETTE
George Sagatov is acknowledged as a Master Builder, and his firm’s attention to detail in crafting exceptional homes is admired throughout Northern Virginia. Our featured property, set to rise in a close-in McLean location, will add another feather to the firm’s cap. Creative inside and out, the home is designed to accentuate style while providing a warm appeal to family and friends. Each room is a separately crafted charmer, yet they work together seamlessly as a coherent whole. This week’s featured property, set on a 0.44-acre lot, currently is on the market, listed at $2,795,000 by Casey Margenau of Casey Margenau Fine Homes & Estates. A welcoming front porch will set the tone for all that will follow, and we are bid welcoming in the airy, soaring foyer. To our immediate left is the formal living room, bathed in natural sunlight and providing access to the comfortable library area that sits at the front of the home. To our right off the foyer, entered via a lovely columned space, is the formal dining room. It’s equally at home hosting a formal soirée or a simple supper, with crown moulding and raised panels under the chair rail. (All of Sagatov’s mould-
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April 16, 2015
18
OPEN HOUSE
Sat. April 18th, 12 to 4pm
40480 Spectacular Bid pl., leeSBurg, Va
BEACON HILL European Country Estate
3 Acres, Nationally Acclaimed Designers Personal Residence 10,000 Sq. Ft., European Artisan Craftsmanship 10 X 10 Pennsylvania Barn Beams Hand Cut Stone Free Standing Fireplaces Imported and Natural Custom Woods Imported Stone and Tiles Extremely Energy Efficient 5 BR, 5.2 Baths, 4 Car Heated Garages $2,500,000
A P R I L 2 015
www.insidenova.com
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Real Estate Group
Sun Gazette 18
Sharon Buchanan
RE/MAX Village ProPerties
0ver 300 Million Personally Sold | Over 20 Years of Professional Realtor Service 703-727-1172 • www.SoldBySharonBuchanan.com • Sharonsels@aol.com Realtor, ABR, CRS, CLHMS, CDPE, Broker/Owner
‘Boomerang Millennials’ Now a Key Demographic A recent study of “Boomerang Millennials” who move out of their parents’ home only to move back in may have important implications for this key demographic and what it means for the housing market. The National Association of Home Builders (NAHB) examined recent research conducted by Judith Dey and Charles Pierret using data from the National Longitudinal Study of Youth 1997. The examination found higher incidence of “re-launch” for Millennials with a Bachelor’s degree compared to those with a lower education attainment and higher incidence of “re-launch” for Millennials from higher parental income household compared to lower parental income households. (Definition: A “re-launch” occurs when a young adult moves out, returns to the parental household, and then leaves again.) “Understanding the makeup of those who return home could shed light on the timing of the release of what we know is quite a bit of pent-up demand,” said NAHB chief economist David Crowe. “The data may indicate that while this age group is delaying what we think of as typical milestones, the combination of resources and education and what we have found about their preferences suggest growing housing demand in the
years ahead,” Crowe said. Ninety percent of those born between 1980 and 1984 left home before the age of 27 – but then more than half returned to their parents’ homes. Of that group, those with a bachelor’s degree or higher had the highest share of returning to the parental home at 55.5 percent. Meanwhile, those born between 1980 and 1984 with a high school degree had the lowest share returning to the parental home at 42.1 percent. When looking at parental income, the research reveals that parents in the top half of the income distribution experienced a higher occurrence of boomerang children than those in the bottom half. Another important difference is gender: Twelve percent of men in this age group never left the parental home, whereas 7.6 percent of women stayed. And although women are more likely to boomerang, they are also more likely to leave again. Studies continue to show that the desire to own a home remains strong for these Millennials. Despite data showing that the age group is delaying household formation, they remain a key demographic in the housing market, and the pent-up demand is expected to translate into housing growth in the coming years.
Affordability Is Up a Bit in Latest Report
George Torres, Associate Broker RE/MAX Distinctive 1307 Dolley Madison Blvd. McLean, VA 22101 RE/MAX Hall of Fame
Direct: 571.228.4362
George@SeeNorthernVirginiaHomes.com
If you are thinking about buying or selling a home and would like to know what your home is worth, please call me for a free consultation.
2819 Cedar Lane Offered at $1,299,999
6 BR 5.5 BA Acres .66
Spectacular new home with exceptional finishes just minutes from the Mosaic District & Dunn Loring Metro. This luxury home features an impressive gourmet kitchen, 6,050 square ft of living space, 3 fireplaces, hardwood floors, gorgeous curved stair case and much more.
www.SeeNorthernVirginiaHomes.com
Slightly lower interest rates and home prices in markets across the country contributed to a slight increase in nationwide housing affordability in the fourth quarter of 2014, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI). In all, 62.8 percent of new and existing homes sold between the beginning of October and end of December were affordable to families earning the U.S. median income of $63,900. This is up from the 61.8 percent of homes sold that were affordable to median-income earners in the third quarter. The national median home price declined from $220,800 in the third quarter to $215,000 in the fourth quarter. Meanwhile, average mortgage interest rates decreased from 4.35 percent to 4.29 percent in the same period. “This upturn in affordability for the final quarter of 2014 is a positive development and is in line with what we are hearing from builders in the field that more prospective buyers are starting to move forward in the marketplace,” said NAHB chairman Tom Woods, a home builder from Blue Springs, Mo.” Continued on Page 34
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Great Falls
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ES CR A 5
SPRING REAL ESTATE GUIDE
Great Falls
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$1,595,000 Sterling
$849,900 Great Falls
Jan Dan Laytham • Dianne Van Volkenburg 703-757-3222 Office Susan Canis
Associate Realtor
Anne Erickson Sally Marvin Associate Realtor
Associate Realtor
9841Georgetown Pike Great Falls VA 22066
$895,000
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Great Falls
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Census Bureau Explores Who Is Moving, Where and Why For the past several years, the mover New job or job transfer was the highrate has remained between 11.5 and 12.5 est job-related reason for moving at 9.7 percent, according to new 2014 statistics percent. released in March from the U.S. Census In addition to the statistics released from Percent and Number of Movers in the U.S. from 1948 to 2014 Bureau. the Current Population Survey, the Census The mover rate between 2013 and 2014 Bureau also released an American CommuPercent Movers 25% was 11.5 percent, or 35.7 million people age nity Survey report titled Young Adult Mi1 year and over. gration: 2007-09 to 2010-12, which looks at 20.2% “When the Current Population Survey 18 to 34-year-olds who moved. 20% started collecting migration information The report shows that the migration of in 1948, about one-in-five people moved young adults declined 1.4 percentage points 15% over a one-year period,” said David Ihrke, during the postrecession period. 11.5% a demographer with the Census Bureau’s While young adults are still the largest 10% Journey-to-Work and Migration Statistics migrant group, much of the decline in miBranch. “Today, that number has fallen to gration at the national level between 2006 Number of Movers 0% (In millions) about one in nine.” and 2009 has been because of the decline in 50 This information comes from Geograph- the movement of this age group, according 40 ical Mobility: 2013 to 2014, a collection of to the ACS. 35.7 national- and regional-level tables from the The American Community Survey re28.7 30 Annual Social and Economic Supplement port describes the demographic and socioof the Current Population Survey. economic status of movers ages 18 to 34 20 The tables describe the movement of using data collected from 2007 to 2009 and people in the United States, including type from 2010 to 2012. 10 ® of move, reason for moving and characterDuring the postrecession period: 0 istics of those who moved one year earlier. The migration rate of adults ages 18-34 • 1948 1952 1956 1960 1964 1968 1972 1976 1980 1984 1988 1992 1996 2000 2004 2008 2012 2014 Distance moved is also available for people declined by 1.4 percentage points, while the Note: Applies to the population age 1 and over. The 1-year geographic mobility question was not asked between 1972 to 1975 and 1977 to 1980. who moved to a different county or state. rate for older adults stayed relatively steady. Between 2013 and 2014: Females 18 to 24 years old had a higher • Sources: Current Population Survey, 1948-2014 For more information, see Movement to the suburbs continued: rate of migration than males of the same http://www.census.gov/hhes/migration/data/cps.html • MORTGAGE • TITLE • INSURANCE RESIDENTIAL/COMMERCIAL REAL ESTATE The suburbs had a net gain of 2.2 million age (32.4 percent compared with 29.8 permovers, while principal cities had a net loss cent), but among 25-to-29-year-olds and of 1.7 million. 30-to-34-year-olds, the pattern reversed, apparent in the 18-to-24-year-old age the lowest migration rate (20.1 percent). Renters continued to move at high and males were more likely to migrate than group, where 32.9 percent of non-Hispanrates: 24.5 percent of all people living in females (29.5 percent compared with 28.6 ics migrated in the last year compared with The Sun Gazette’s quarterly real estate renter-occupied housing units lived else- percent, and 22.5 percent compared with 24.2 percent of Hispanics. guides come out four times a year, but Employed individuals were least likely where one-year prior. The mover rate of all 20.4 percent, respectively). • the paper stays on top of real estate news 23% were more #1likely in McLean people living in owner-occupied housing to to move. Compared with other young adults, • Non-Hispanics 365 days a year. units was 5.0 percent. migrate than Hispanics. This is especially those age 30 to 34 who were employed had
Packing It Up?
The Choice is Obvious. Long & Foster
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LONG & FOSTER
LONG & FOSTER 14%
6%
Weichert Realtors
KW - Mc Lean / 22101
6%
McEnearney Associates
®
5%
Washington Fine Properties
No one has more expertise selling homes than Long & Foster . RESIDENTIAL/COMMERCIAL REAL ESTATE • MORTGAGE • TITLE • INSURANCE
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Long & Foster McLean Congratulates Top Producers — for MARCH 2015
Wydler Brothers 703-873-5020 TOP TEAM
Laurie Mensing 703-965-8133
VIENNA
Lilian Jorgenson 703-407-0766 TOP AGENT
Warren Kluth 703-244-1111
INCREDIBLE NEW PRICE
Lilian Jorgenson
Mark Goedde 703-850-8129
Kate Ryan 703-903-8640
$1,399,000
This spectacular Country Victorian is tucked away on a hilltop featuring 6 bedrooms, 5 full baths, 1 half bath, 2-story foyer, spacious eat-in kit, finished lower level, large deck, wraparound porch & so much more.
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Tracy Dillard 703-861-5548
Florann Audia 703-402-9127
LEESBURG
The Lewis Team 703-760-7653
Barbara Johnson 703-608-5278
INCREDIBLE NEW PRICE
Lilian Jorgenson
Source: Information based on data supplied by MRIS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Doeswww.Lilian.com not reflect all activity in the marketplace. January 1, 2011 – December 31, 2011. www.Lilian.com 703-407-0766 703-407-0766 Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of MRIS or Long & Foster Real Estate, Inc. ©2012 All rights reserved.
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$1,449,000
One of VA’s finest abodes on 3AC with VIEWS OF SUGARLOAF MOUNTAIN! Resort style pool & promenade walk-ways, huge deck, plus a massive pavilion with exterior cook station, bar, rotisserie & party plaza. Wraparound porch.
Offices LongMcLean & Foster McLean Office 703-790-1990 1355 Beverly Rd, Suite •109, McLean, 22101 Blvd. 703-873-3500 • 6862 Elm•Street | 703-790-1990 1311A DolleyVA Madison
For Extraordinary Service and Results...
Laurie Mensing is one of Long and Foster McLean’s Top 10 Producers, and is Nationally Ranked in the Top 1% of Residential Real Estate Professionals.
Consider Laurie your trusted advisor!
McLean $865,000
Reston $799,900
Vienna $960,000
Great Falls $1,200,000
McLean $1,225,000
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McLean $890,000
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Great Falls $2,750,000
McLean $1,235,000
“Every transaction is treated as if it was my own.”
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Multi-Million Dollar Top Producer Office: 703.790.1990 Direct: 703.873.5193 Cell: 703.965.8133 laurie.mensing@longandfoster.com www.lauriemensing.com Licensed in VA, MD & DC
SPRING REAL ESTATE GUIDE
McLean $3,805,000
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McLean/Chesterbrook Gardens
$1,799,000
6 Bedrooms/6 Full & 2 Half Baths/2 Car-Garage MLS#FX8531555* GORGEOUS new construction*Lightfilled w/large window*Exotic tigerwood floors*Amazing kitchen w/”hidden” walk-in pantry/room, SS Thermador appliances, granite, wood cabinets*Deck*Stunning master suite w/unbelievable walk-in closet*Main level bedroom*2 car-garage, mud room*Multi-zone heating/cooling*Multiple gas fireplaces*Upper level den*Media room*Chesterbrook/ Longfellow/McLean schools*More!
Arlington/Cherrydale
$1,399,000
4 Bedrooms/4.5 Baths/Garage
MLS#AR8585410* House on 2 lane road, what many think is “Old Lee Hwy”*Privacy*Lgr than pub. rec. SF #*Not cookie cutter*Open floor plan*Main level bedrm & full bath*Wood floors*Marble*Hirsch glass tile*Granite*Custom kitchen cabinetry*Front porch*Rear patio & fenced byard*Garage*16’ driveway w/turnaround*Cherrydale & Lee Heights shops*Taylor/Swanson/Washington Lee schools*More!
Herndon/Herndon Chase
$815,000
5 Bedrooms/4.5 Baths/2 Car Garage
MLS#FXFX8578803* Beautiful, very well-kept, large*At culde-sac*Bump out not captured by pub record*Fantastic flow & utility of main level; so much sunlight; 10 ft ceilings*Gas avail to convert eat-in kitchen’s elec cooktop*MBed easily fits king bed; large master bath; walk-in closets; sitting room; 9 ft ceilings*Huge LL w/kitchenette; walks out to fenced byard w/ shed*East facing*Extensive molding*So much more!
John Mentis, Realtor® Top Listing Agent 2014
“Your Life is Changing. I Can Help!” ® Long & Foster Real Estate 4600 Lee Highway Arlington, VA 22207
6136 Tompkins Drive, McLean, VA 22101
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703-522-0500
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Spacious, Gracious Living: The Details Make the Difference
Quality craftsmanship, sophisticated features, numerous lovely details, and outstanding floor plan make this home in the Chesterbrook Woods neighborhood of McLean a true treasure. The delightful curb appeal leads you to enter the home through a handsome solid-wood front door, opening to reveal a bright and welcoming foyer with inlaid hardwood floors, three-piece crown molding, and abundant windows. The generous sunshine that streams through the home makes an immediate first impression. This spacious foyer is the perfect place to greet loved ones and special guests. Once inside, this open, bright home embraces you with warmth and light. The main level has traditional living and dining rooms with many large windows, a lovely powder room featuring basket-weave floor tile, and a main level office with built-in bookshelves and even more windows and light. Finding a dining room spacious enough to host large holiday gatherings can be a challenge, and here it is. The intricate wainscot trim and tray ceiling in the dining room elevates the space from functional to gracious. Connecting the dining room to the kitchen is a butler’s pantry thoughtfully equipped with a wine cooler and prep sink. The vibrant heart of this home is found in the spacious, open kitchen and family room. It is hard to imagine a lovelier kitchen than this one. Copious cabinets surround a large center island with a deep sink. There are high-end stainless steel appliances and a large walk-in pantry. Thoughtful design and quality finishes combine to create a kitchen that is as pleasant as it is practical. Entering the kitchen from the two-car garage, through the large mudroom, makes short work of bringing in groceries. French doors lead from the kitchen to the superbly landscaped backyard. The family room with the raised-hearth wood-burning fireplace lends a feeling of “heart and home,” creating a very welcoming space. A gas line runs to this fireplace, so it can be easily converted to gas. Coffered ceilings and built-in bookcases round out the family room. There is a full audio-visual system to satisfy even the most sophisticated audiophile. Upstairs are four bedrooms, each en-suite, plus a laundry room with space to spare. The master bedroom suite is a luxurious sanctuary, with gas fireplace, spacious walk-in closets, and sumptuous spa-like bathroom complete with heated ceramic floors and sparkling crystal chandelier. The additional upper-level bedrooms are all very spacious with walk-in closets. Abundant storage space is found throughout this home, but especially in the expansive lower level. The walk-out lower level boasts a large recreation room with gas fireplace, a fifth bedroom, another full bath, and a large room perfect for a home theater. There is an additional “flex” room that can be used as a storage room, craft room, play room, wine room, or gym; the choice is yours. Asking Price $1,799,000
Superior Service, Outstanding Results!
CHRISTINE RICH CHRISTINE.RICH@longandfoster.com
703-362-7764
What Real Estate TV Shows Give Best Insight of Market? DAVE FACINOLI Staff Writer
The number of real-estate-themed shows on cable TV is too large to count, with many have a large and loyal following. The Sun Gazette asked some local real estate experts which shows they think are most helpful to prospective home buyers and sellers, and which is their personal favorite. Here are their thoughts: Joan Stansfield, Keller Williams: Of all the real-estate-themed T.V. shows, I think “Love it or List it” may be one of the best to educate sellers. They offer an approach that few homeowners can fathom, and with their objective, professional consultation, sellers can realize and weigh all the options and costs before them – whether to renovate their current home, or if it’s really time to move. For buyers, “Property Virgins” does a good job guiding buyers through the full, often emotional process of finding, buying and negotiating to close. My favorite shows are “Rebab Addict” and “Fixer Upper.” David Howell, McEnearney Associates: Although they’re all entertaining, I think most helpful are those that show how a home can be transformed. Showing a great bathroom or kitchen renovation, or how a backyard can become a wonderful outdoor entertaining area can show buyers and sellers some great ideas about a home’s potential. I especially enjoy “Property Brothers” and “Rehab Addict,” as well as “Crash My Yard.” I learn something new almost every time I look at one of these shows. What they often lack, however, is a real view of the cost of such renovations. Although there is an undeniable voyeuristic and fun quality to the house-finding shows, I don’t think they are very helpful to a home buyer or seller. Natalie Roy, Keller Williams: Many real estate shows are fun and entertaining. However, they are off the charts in terms of resembling real life. Who can get a kitchen totally renovated with high-end appliances for $10K around here? Who can get a house gutted and totally remodeled for $90K? If you can, please send me the name of your contractor ASAP. That said, these shows inspire people and foster creativity. I watch these shows to get ideas about the latest trends, hot paint colors, staging and spacing tips, home renovation advice. “Million Dollar Listings L.A.” is one of my favorites. Dee Murphy, Long & Foster: My favorite is the one about first-time home buyers. I think the shows have a huge impact on the consumers and they are received well by the public. The majority of my clients make a comment about the shows. They can educate the public. The way houses are staged in those shows, the public sees that and understands the value. Jack Shafran, Yeonas and Shafran Real Estate: I watch some of them and they make me laugh a lot, because they are not realistic. But I do like some, like “Buying Alaska” and buying at the beach (Beachfront Bargain Hunt) because you learn about a different market outside of this area. Casey Samson, Samson Properties: Sell This House” takes homes that are not selling because of their horrible condition. Paint, carpet and decluttering puts homes
back in sellable condition. It has some great tips for home sellers. Dawn Wilson, Keller Williams: “I think it’s T.V. and a lot of things are created for a lot of drama so people will watch. I do like that international house-hunters show, because we can see what other types of homes are out there and available. John Mentis, Long & Foster: I don’t like any of them. In general, they paint an unrealistic picture of what buying and selling is about, and what the job of a real estate agent is about. Those shows are more about entertainment than education. Karen Briscoe, Huckaby, Briscoe, Conroy Realty Group: They are mostly helpful, because they give people more of an awareness. But those shows do make things look too easy, and that isn’t the case. They can set the public up for expectations that are not realistic. Karen Close, Century 21: I don’t have a favorite. Those T.V. shows and the information about real estate on the Internet is all very helpful to a degree. I don’t think those shows are harmful, but you have to understand there are things they don’t show. They tend to show a lot of the positives and upsides. But there are downsides that aren’t shown. Billy Buck, Buck & Associates: I don’t watch any of them. I don’t have time and I get impatient with the Hollywood aspect. It’s entertainment, silly and not reality. If anything good comes out of them, it’s for staging purposes, so sellers know what they have to do to sell a house. There is some value there. Donna Moseley, TTR Sotheby’s: I don’t watch them. But what I hear from clients is they find them very entertaining and can create excitement for buyers and sellers. What I see is the shows can educate the public about why it is important to take care of your home if you are planning to buy or sell. Eric Ritland, American Realty Group: I do not have a favorite, but I think they create so much excitement about real estate. It’s always a good thing to have enthusiasm about building and architecture. Mark Middendorf, Long & Foster: The shows are a lot about show and they are not realistic. The good thing, is they make sellers realize what they need to do to put their property on the market. Steve Wydler, Long & Foster: I don’t have a favorite, but I think they are a net positive. They educate the consumer as far as staging their property cosmetically and with artwork, and to take care of the handyman items that are so important when selling a house. Betsy Twigg, McEnearney Associates: Those shows are not realistic. They have to be happy, happy, bubbly, blubbly. The one thing they do is show sellers that they really have to shape up their house to get top dollars. Dean Yeonas, Yeonas and Shafran Real Estate: They are a little sensational, but I really don’t watch them. I don’t want to watch the same thing I do everyday. I have a show doing that – it just doesn’t get filmed. Craig Mastrangelo, Re/Max AlleContinued on Page 34
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Donna Moseley John McNamara 703.623.5294 / 703.395.2908 (mobile) TTR Sotheby’s International Realty 6723 Whittier Ave, Suite 101, McLean, VA
703.319.3344 (office) G
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6811 Wise St, McLean
$1,788,000
Almost 9000 sq ft, with elevator, in downtown McLean.
Lanier Pl, Falls Church
Renovated Historic Farmhouse. First time available in 75 years.
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$1,249,900 Heather Brook Ct, McLean
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$1,324,900
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$1,149,900 Harithy Dr, Tysons
$1,049,900 Mintwood, Wash DC
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$599,900
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SPRING REAL ESTATE GUIDE
Wolf Trap, Tysons
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$1,799,000 Dogwood Farm, Great Falls $1,425,000 Linda Lane, Annandale
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$1,995,000 19th St South, Arlington
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Highland St, Arlington
$1,295,000
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Harithy Dr, Tysons $1,199,900 Ina Lane, McLean
$1,180,000 Harithy Dr, Tysons
$960,000 Old Courthouse, Vienna
$950,000
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Elm Grove Ct, Tysons
$960,000
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Vacation home sales boomed in 2014 to above their most recent peak level in 2006, while investment purchases fell for the fourth straight year, according to an annual survey of residential homebuyers released by the National Association of Realtors. NAR’s 2015 Investment and Vacation Home Buyers Survey, covering existingand new-home transactions in 2014, shows vacation-home sales catapulted to an estimated 1.13 million last year, the highest amount since NAR began the survey in 2003. Vacation sales were up 57.4 percent from 717,000 in 2013. Investment-home sales in 2014 decreased 7.4 percent to an estimated 1.02 million in 2014 from 1.10 million in 2013. Owner-occupied purchases fell 12.8 percent to 3.23 million last year from 3.70 million in 2013. The sales estimates are based on responses from nearly 2,000 U.S. adults who purchased a residential property in 2014, and exclude institutional investment activity. Lawrence Yun, NAR’s chief economist, says vacation sales in 2014 showed astonishing growth, nearly doubling the combined total of the previous two years. Affluent households have greatly benefited from strong growth in the stock market in recent years, and the steady rise in home prices has likely given them reassurance that real estate remains an attractive long-term invest-
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ment,” he said. “Furthermore, last year’s impressive increase also reflects longterm growth in the numbers of baby boomers moving closer to retirement and buying second homes to convert into their primary home in a few years.” Vacation-home sales accounted for 21 percent of all transactions in 2014, their highest market share since the survey was first conducted. The portion of investment sales fell to 19 percent (20 percent in 2013); owner-occupied purchases declined to 60 percent (67 percent in 2013). “Despite strong rental demand in many markets, investment property sales have declined four consecutive years to their lowest share since 2010 as rising home prices and fewer distressed properties coming onto the market have further reduced the number of bargains available to turn into profitable rentals,” says Yun. The median sales price of both vacation and investment homes declined in 2014. The median vacation home price was $150,000, down 11.1 percent from $168,700 in 2013. The median investment-home sales price was $125,000, down 3.8 percent from $130,000 a year ago. According to Yun, the decrease in vacation and investment sales prices is likely due to the increase in vacation and investment buyers purchasing condos and townhouses, which contributed to a decline in the median size of 200 square feet for both.
Additionally, the rise in vacation buyers purchasing distressed properties and buying in the South, where home prices are often lower, contributed to the overall decline in the sales price of vacation homes. The share of vacation buyers who paid in cash fell to 30 percent from 38 percent in 2013. Investment buyers who paid in cash decreased to 41 percent from 46 percent a year ago. Of buyers who financed their purchase with a mortgage, nearly half (48 percent) of vacation buyers and 41 percent of investment buyers financed less than 70 percent of the purchase price. Forty-five percent of vacation homes and 44 percent of investment homes purchased in 2014 were distressed properties – either a home in foreclosure or a short sale. In 2013, 42 percent of vacation homes and 47 percent of investment home purchases were distressed.
condo (27 percent) or a townhouse or row house (18 percent) increased from a year ago. Forty-percent of vacation buyers purchased in a beach area, 19 percent purchased in the country and 17 percent purchased a vacation home in the mountains. One-third of vacation buyers plan to use their property for vacations or as a family retreat, 19 percent plan to convert their vacation home into their primary residence in the future, and 13 percent bought for potential price appreciation; the same share purchased because of low real estate prices and because the buyer found a good deal. Forty-six percent of vacation homes purchased last year were in the South (41 percent in 2013), 25 percent in the West (28 percent in 2013), 15 percent in the Northeast (18 percent in 2013) and 14 percent in the Midwest (unchanged from a year ago).
Characteristics of Vacation-Home Purchases The typical vacation-home buyer in 2014 had a higher median household income ($94,380) than those in 2013 ($85,600) and purchased a property that was further away (median distance of 200 miles) than a year ago (180 miles). Buyers plan to own their property for a median of 6 years, unchanged from 2013. Although a majority (54 percent) of vacation buyers bought a single-family home, the share of those buying a
Characteristics of Investment-Home Purchases Investment-home buyers in 2014 had a median household income of $87,680 ($111,400 in 2013) and typically bought a detached single-family home (61 percent) that was a median distance of 24 miles from their primary residence (20 miles in 2013). Thirty-seven percent of investment buyers last year purchased a property in the South, 26 percent in the West, 20 percent in the Midwest and 17 percent in the Northeast.
FAIRFAX Jennie Park NVAR lifetime top producer Associate Broker MD, VA Full Service Real Estate Expert Cell 703-609-4989 jenniempark@gmail.com
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Sales of Vacation Homes Were Booming in 2014
$719,000
T SA PM EN 1-4 P O 18 4/
If You Are Looking To Buy Or Sell I Will Provide Free Market Analysis And Consultation Specializing In Fine Homes And Estates
Accredited Staging Professional LOUDOUN
Beautiful Brick SFH Close To Vienna & D L Metro. 5Bed 3.5BA 2 Car Gar. HW FLR 1&2 Lvl. Updated Kitchen. Wooded Backyard W/Sound System W/Multiplexer To Enjoy BBQ. Fully Finished W/O Basement W/Br & Extra Room For Exercise Rm. Custom Paint. Custom Draperies. Windows 2007. Close To Route 29, 66 & Route 50.
$899,000 ALEXANDRIA CITY
$314,900 FAIRFAX T AC
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ARE YOU LOOKING TO SELL IN THE WOODSON H.S. AREA? CALL TODAY!
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$439,000 FAIRFAX
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10191 Castlewood Lane Oakton, VA 22124
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$319,000
John Mentis, Realtor® “Your Life is Changing. I Can Help!” Long & Foster Real Estate
4600 Lee Highway
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Arlington, VA 22207
2014 TOP LISTING AGENT, TOP BUYERS AGENT, TOP PRODUCER
Whether you were buying or selling… SELLERS
BUYERS
50%
50%
A detached home, townhouse, or condo... Detached house 37%
Townhouse 40%
Condo 23%
Other Areas 2%
Office: 703-522-0500 Cell: 202-549-0081 e-mail: john.mentis@longandfoster.com
website: www.johnmentis.com
www.facebook.com/mentis.homes
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Over 82% of my 2014 business was from repeat clients, client referrals, and agent referrals. Experience for yourself what keeps bringing them back. Contact me for a private consultation.
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BEST YEAR YET! 2014
SPRING REAL ESTATE GUIDE
Alexandria 18%
Fairfax Co. 32%
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Washington, D.C. 24%
Arlington 24%
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In Northern Virginia or Washington, D.C. ...
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Exceptional Vistas Over the Lower Valley
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215-Acre Liberty Hill Farm Can Date Its Provenance to the 1780s
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For those who love and respect history, our monthly featured property represents an opportunity not to be missed. Offered to the public for the first time, Liberty Hill Farm dates to the 1780s, and has been in the same family since 1939. A mountaintop retreat on 215 acres – onethird open and pasture, the remainder wooded – near historic Boyce and Paris in Clarke County, the property features unrestricted, panoramic views of the Lower Shenandoah Valley, including the Blue Ridge and Allegheny mountains. And as the day ebbs, you have the opportunity to view exceptional sunsets. The property currently is on the market, listed at $1,900,000 by Paul MacMahon and Helen MacMahon of SheridanMacMahon Ltd. Realtors. One of the oldest existing homes in the county, Liberty Hill Farm features amenities throughout its acreage, from stone walls and mature trees to a fully stocked pond and multiple streams and springs. The main home is constructed of wood and stone, and showcases elegance throughout, including heart-of-pine flooring. Modern touches are not forgotten, as the home has a central HVAC system and an up-to-date kitchen. A separate guest house features a bedroom, bathroom and library, and an existing foundation on the property can be used as the genesis for a future guesthouse or office. The history of the property is extensive and exceptional; it was Benjamin and Molly O’Rear who in mid-1787 set the first stone on the foundation of the main home. In honor of the newly written U.S. Constitution, they changed the name of the site from Windy Castle to Liberty Hill. There were hardships for the next century, but the owners of Liberty Hill were resourceful and entrepreneurial, at one point turning the home into a bedand-breakfast for denizens of Tidewater seeking to escape the heat and malaria of sumertime. A number of Hunts kenneled their hounds here for exercise and training. The panorama of the property show-
cased the moving of armies during the Civil War, and cavalry battles could be seen as both Union and Confederate leaders attempted to control the Valley. It is seen as entirely probable that the main house, root cellar and smokehouse could have served as a hideout for missing or wounded soldiers. The property survived the war with little damage; its barn was one of the few in the Lower Valley that was not burned, and remains one of the few pre-war structures that exist today. Today, the view over the valley remains
exceptional, and it frames a growing and dynamic community. Allow yourself to be part of this exceptional piece of history. It is an estate well worthy of consideration for those who love history and desire grand vistas. Articles are prepared by Middleburg Life’s real estate advertising department on behalf of clients. For information on the home, contact the listing agent. For information on having a house reviewed, contact the Middleburg Life real estate advertising department at (540) 687-6059.
Facts for buyers Address: Liberty Hill Farm, Boyce, Va. Listed at: $1,900,000 by Paul MacMahon (703) 609-1905 and Helen MacMahon (540) 454-1930, Sheridan-MacMahon Ltd. Realtors.
McLEAN $5,995,000
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Elegant 1.9 acre estate with 7 bedrooms and 8.5 baths in sought-after Langley Farms. Large center hall leading to formal dining room and formal living room with fireplace and beamed ceiling. Open eat-in kitchen with pocket doors opening to family room. Large master suite with two master baths. Lower level family room overlooking large heated pool.
RUSSELL FIRESTONE +1 202 271 1701
ARLINGTON $2,749,000
Stunning 9,000 sq ft custom center hall colonial on a private .48 acre cul-de-sac lot offering high-end quality craftsmanship throughout. Luxury amenities include elevator, sauna, theater room, wood-crafted library and four elegant fireplaces.
JOY DEEVY +1 703 930 5198
ARLINGTON $2,395,000
Custom one-of-a-kind 2-level condo with 2 bedrooms, 2.5 baths and 3 parking spaces. Fully furnished and customized by Akseizer Design Group. 2,210 sq ft, including upper terrace. Viking kitchen. Sound proofed walls with hidden speakers. Bathroom mirrors with built-in TV’s. Direct elevator to unit. Low condo fees.
McLEAN $5,895,000
Stunning waterfront home on the Potomac River. This incredible private setting boasts unbelievable sights and sounds of the river. All 4 levels of this 4BR, 5BA home were built with views as if you are sitting in the treetops, and includes an indoor pool on the lower level. Over 7,500 sq ft of living space.
MIKE ANASTASIA +1 703 501 1000
McLEAN $1,599,000
Stunning 4 bedrooms, 5.5 bathroom home located on an exquisitely landscaped lot. Over 5,500 sq ft of living space on 3 levels with high ceilings and wood flooring. Gourmet kitchen and a gorgeous backyard.
MIKE ANASTASIA +1 703 501 1000
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ADAM SKRINCOSKY +1 703 915 1827 DAVID DeSANTIS +1 202 438 1542
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McLEAN $1,225,000
KAREN CHIPMAN +1 703 790 9292
GLORIA ADAMS +1 703 356 6645
Spectacular, open and light-filled home with approximately 6,900 square feet of finished living space. Columns grace the open two story foyer. Room after room interconnect for grand entertaining or cozy comfort.
Gracious and spacious, all brick two level rambler, great pool, and fabulous kitchen/family room combo with fireplace. Quality construction, lovely location and great condition. Minutes to Tysons, DC, MD. Close to Potomac School.
McLEAN $1,170,000
Great location. Close to McLean shops, minutes to Silver Line/Tyson’s, airports, and Capitol Hill. Lovely and spacious townhome in great condition. Large kitchen/ family room, bonus room with bath, cozy home theater with a great sound system. Nice hardwood, spacious bedrooms, wonderful floor plan.
GLORIA ADAMS +1 703 356 6645
TTR Sotheby’s International Realty is pleased to welcome the following agents to the firm:
DIANE BOONE +1 703 216 999
JOY DEEVY +1 703 930 5198
McLEAN, VA BROKERAGE | +1 703 319 3344 ALEXANDRIA, VA BROKERAGE | +1 703 310 6800 GEORGETOWN, DC BROKERAGE | +1 202 333 1212 DOWNTOWN, DC BROKERAGE | +1 202 234 3344 CHEVY CHASE, MD BROKERAGE | +1 301 967 3344
ttrsir.com
This spacious Hamptons of McLean three level, three bedroom, 2-car garage townhome is quietly nestled steps away from the many wonderful shopping and dining options McLean offers.
©MMXV TTR Sotheby’s International Realty, licensed real estate broker. Sotheby’s International Realty and the Sotheby’s International Realty logo are registered service marks used with permission. Each Office Is Independently Owned And Operated. Equal housing opportunity. All information deemed reliable but not guaranteed. Price and availability subject to change.
A P R I L 2 015
McLEAN $739,000
Estate series home, premium golf course lot, panoramic views of 15th fairway, huge covered deck, 3 finished levels, 5 bedrooms, 4.5 bath, custom gourmet kitchen, tiered theatre room, gated community.
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ASHBURN $1,110,000
Sherif Abdalla Doug Francis Donna Martin Kim Boyer
SPRING REAL ESTATE GUIDE
VIENNA $1,295,000
29
ALEXANDRIA
$239,999 Lovely, sunny top floor condo with 2 bedrooms, 2 full baths, wood fireplace and balcony. Updated kitchen and flooring. Conveniently located near shops, restaurants and metros. Please call for more information.
NESHA KHARGIE 703-867-0259 www.cbmove.com/FX9005437 LAKE BARCROFT
W NE
ANNANDALE
W NE
G TIN S I L
www.cbmove.com/sharronjones
SUN GAZETTE
OAK HILL
$934,900
G TIN S I L
SPRING REAL ESTATE GUIDE | A P R I L 2 015
$414,900
New Stainless Steel Appliances & Flooring in Kit. Hardwood Floors & New Windows throughout. New carpet in bedroom w/ Walk-In Closet. Enclosed Balcony/Sunroom overlooking Clarendon.
703-524-2100
CENTREVILLE
Surrounded by Parkland! This gorgeous, totally rebuilt & remodeled Colonial! Large Gourmet kit opens to family room & out to the covered porch! Master bdrm beyond compare! 5 bdrms in UL! Walkout LL w huge rec rm!
KAY GRAFF 703-725-5276 www.cbmove.com/FX8585299 FALLS CHURCH
$550,000
Immaculate condition, hrdwd floors throughout, updated Master BR, Cozy breakfast nook and comfortable lower lvl den. Metro within 1 mile.
703-524-2100
703-524-2100
www.CBregional.com
$635,000
$769,000
G TIN S I L
www.CBregional.com
OAKTON
www.CBregional.com
$1,014,000
GAINESVILLE
$540,000
ING T S LI
Beautiful, open-floor plan, updated Colonial in sought after Still Oaks/Franklin Farm. Oakton High School Pyramid. Contact Lisa for more information.
Gorgeous 5 br, 3.5 ba home with gourmet kitchen, fin basement on a private setting.
LISA DECARLO MICHAEL HULING 571-239-8690 703-409-8296 www.cbmove.com/ Vienna www.cbmove.com/ FX8552569 Want to be a Realtor? WHAT ARE YOU WAITING FOR? taking!
Beautiful stone front colonial in Oakton Knoll Estates! Exceptionally maintained by current owners. 4 Bdrms/3.5 Baths/3 Finished Levels. Corner lot on quiet cul-de-sac. Everything you want in a great commuter location!
www.cbmove.com/FC8577352
Want to be a Realtor? WHAT ARE YOU WAITING FOR? taking!
NORTH SPRINGFIELD
DATE: APRIL 13TH 9:30AM-4PM
Best in show in sought after Glenkirk Estates! 5 bedrooms/4 full baths. Main level full bath * Over $100k of updates * Fab kitchen w/huge center island * Sunroom bump out * Fab fin. lower lvl w/dynamite wet bar * Cul-de-sac! Hurry!
LISA MOFFETT 703-517-6708 www.cbmove.com/PW8561493
2 JONES SELL HOMES TEAM/703-609-7071
Want to be a Realtor? WHAT ARE YOU WAITING FOR?
30
High end updates * 5 Star interior design full of personality & style * 5 beds/4.5 baths * Fab updated kitchen * Luxury master bath * Plantation shutters * Rec rm w/wet bar & w/out to slate patio * 0.48 acre lot * Madison HS pyramid!
W NE
ANNANDALE
SE OU H EN OP
G TIN S I L
ARLINGTON
Spacious and remodeled 4BR/3BA home features sunroom, open concept living/dining room, den, family room, and great outdoor space. Just ¼ mile to private beach/Lake Barcroft.
703-524-2100
$1,099,000
LISA MOFFETT 703-517-6708 www.cbmove.com/FX8574042
2 JONES SELL HOMES TEAM/703-609-7071
W NE
OAKTON
W NE
5 Bedroom, 3 Bath home on 1 acre wooded, landscaped lot. Hardwoods on main level and lower level rec room with fireplace.
www.CBregional.com
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G TIN S I L
LAKE BARCROFT
Stylish, sophisticated, and fully remodeled 4BR/2BA home features a great kitchen, spalike bathrooms, and private home office. Lake Barcroft privileges for swimming and boating.
W NE
$623,000
$795,000
VIENNA
$1,250,000
Location: 4500 Old Dominion Drive Arlington, VA 22207 Paradise in N Springfield-12 miles to DC * Private .46 acre lot * Super upgrades & amenities! 5 bedrms/3.5 baths * Great Rm addition * Sunrm w/heated tile floor * Deck/patio * Rich HW floors * Fin w/out rec rm * Must see whole experience!
These classes will have you ready to pass the state exam and strategically place yourself in our upcoming spring market.
To Register visit www.cbrbschool.com STARTINGplease APRIL 13TH or call 1 800 992 4794.
LISA MOFFETT 703-517-6708 www.cbmove.com/FX8553291 Location: 4500 Old Dominion Drive
START DATE: APRIL 13TH Kendra E. Wright 9:30AM—4:00PM Branch Vice President
These classes will have you ready to pass the state exam and strategically place yourself in
upcoming spring market. With expert guidance from our experienced Branch Vice STARTING APRILour13TH
President and a highly driven teaching staff, allow Coldwell Banker to guide you into one
Windover Heights! 5br, 3.5 ba, 4700 sq ft on a private 1/2+ acre. Gourmet kitchen, lux master suite. Must see!
MICHAEL HULING 703-409-8296 www.cbmove.com/FX8569660
Arlington, VA 22207 START DATE: APRIL
13TH 9:30AM—4:00PM Location: 4500 Old Dominion Drive Arlington, VA 22207
$599,000
FAIRFAX
Lovely End our upcoming spring market. guidance fromthis ourfirst experienced Viceplease We would beWith gladexpert to help you with step. ToBranch Register Townhome President and a visit highlywww.cbrbschool.com driven teaching staff, allow Coldwell to guide you into one orUnit call 1 800Banker 992 4794. minutes from Old Town Fairfax and GMU! We would be glad to help you with this first step. To Register please 3Bdrms/3.5Baths/ visit www.cbrbschool.com or call 1 800 4794. 2 Car992 Garage. Hardwood floors and new neutral carpet. Granite Kendra E. Wright & stainless in & BEAUTIFUL * Rarely availBeautifully renovated 4 BR home on treed Bran c h V i c e P r BIG e s i d e n BRIGHT t kitchen. Deck lot. New Kitchen & Baths. HW floors, gas able END UNIT in the Townes of Moorefield. for relaxing or dining. Call for a FP, Huge Master Suite and finished walkout Spacious 3 level Brick Townhome sited on landscaped spacious lot. Walk to Metro, Madison HS! tour today! basement.
ING T S LI
FAIRFAX CITY $678,800 BURKE These classes will have you ready to pass the state exam and strategically place yourself in
2 JONES SELL HOMES TEAM/703-609-7071 www.cbmove.com/sharronjones
$640,000
CAROL KALINOWSKI 703-631-1393 www.cbmove.com/FX8559872
VIENNA
SUSIE CARPENTER 703-906-6598 www.cbmove.com/FX8578146
Kendra E. Wright Branch Vice President
Arlington-McLean
Vienna
Kendra Wright
Harry Yazbek
Branch Vice President
Branch Vice President
(703) 524-2100 CBregional.com
(703) 938-5600
Owned and Operated by NRT LLC
CBmove.com/Vienna
W NE
$1,369,000
Beautiful four-sided brick Colonial in Dartmoor Estates. 6 bedrooms and 5.5 baths in an exquisite open floor plan. Outdoor patio, master suite, and a finished basement with walk up. Contact Lisa for more information.
LISA DECARLO 571-239-8690
www.cbmove.com/FX8595045
Weichert
Real Estate
Mortgages
Closing Services
CALL FOR FLOOR PLANS!
Insurance
The Romer Team
$1,175,000
N. ARLINGTON
COMING SOON-LARGE, PRIVATE END UNIT MUST SEE! Backs to common area, great paver patio, elegant designer touches throughout, beautiful HDWD on 3 levels, box-bay windows, bent wood railing, crown & chair molding, morning alcove, RR-floor-to-ceiling built-ins, brand new windows, fabulous new gas FP, en suite master. Much more!
®
Ann Romer CRS, GRI, ABR
(703)597-4289 RltrAnn@aol.com TheRomerTeam.com
COMING 4/22 Custom home offers spectacular views from 9 rooms! The main level includes a 26x14 LR, 14x12 DR, 16x14 fam rm, intimate den, 3 BR's & 2 BA's The lower level features a rec room, garden room, 2 BR's, BA, 2 nd kitchen & additional laundry for in-laws or au’ pair. Over 4,400 sq. ft + walk-up attic with expansion options. 1 light to DC!!
LINDA MILLER Associate Broker, GRI Relocation Specialist
703-402-4800
www.gotolinda.com linda@gotolinda.com
ARE YOU RENTING NOW: Have You Considered Buying? NOW IS A GREAT TIME TO BUY —
McLean $849,000 McLean $765,000 UNDER CONTRACT!!! UNDER CONTRACT!!! COMING SOON Gorgeous 4BR / 3 BA Home with Updated Kitchen Expanded Family Room - Lovely Deck Serene Cul-De-Sac Setting
Fort — Belvoir AreaCt VIENNA COLONIAL 1518 Tuba
Barb Bubel
NVAR Multi-Million Dollar Club LIfe Member Top 5% of Realtors Nationwide
• Minimum down payments • Rents continue to rise dropping to as low as 3% • Historically low interest rates • Healthy inventory of homes • Variety of available loan programs, one to fit your needs • Tax advantages of home ownership
Call me for a Free Consultation on the Benefits & Costs of Renting versus Purchasing
703-827-BARB 703-966-8675
571-213-7500
houses@bubel.com
BarbCleo@aol.com
Penny Johnson
703-587-0440
703-424-0323 k.patel@weichert.com www.homesbykirti.com
• Perfect kitchen and renovated baths • 4 bedrooms; 4.5 baths • Beautiful touches to move-in ready home • 1 flat acre with suprise 2-story play fort • Maintained to high standards located less than one mile to Tysons
$699,850 Perfect home to have a professional office or daycare service Just across from Thoreau Middle School. So convenient to Vienna, Dunn Loring, Tysons. 4 bedrooms; 2.5 baths; great living space.
Mary Foerster Reatlor
703-626-9703 Direct Dial
Mffoerster@cox.net
McLEAN
1312 Daviswood Drive
Just Listed!
N SU N E -4 OP 2
703-447-3555 Claire@Clairedriscoll.com
N SU N E -4 OP 1
DOLORES FERRER
Stunning 7BR, 7.5BA custom home on .8ac. Built 2009. Associate Broker Approx. 9000 sq.ft. High ceilings, gourmet kit. Mahogany & oak floors, crown molding, 3 car gar., Luxurious MBR retreat NVAR Top Producer w/FP/sitting rm/kitchenette/wet bar. 2 story Fam Rm w/FP. Ensuite Bedroom/office on main level, sunrm, covered deck, 2 story foyer,lower lvl has large BR/BA w/sitting rm, wetbar, www.doloresferrer.com theatre & exercise rms. doloresferrer@mris.com
703-623-9295
Rarely Available 2 BR + Den Luxury Condo in Encore $449,000
Fabulous, Sunny, Bright, Spacious, neutral decor, hardwood floors, remodeled and updated kitchen and baths, new HVAC system, marble foyer, full sized laundry room, 2 garage parking spaces, extra storage, large balcony on quiet side of building.
McLean/Dolley Madison Office
1313 Dolley Madison Blvd • (703) 760-8880
Margaret Gilboa
GRI, CRS, ABR Top 1% Nationwide Over 25 Years
703-629-0828
mgilboa@mris.com
A P R I L 2 015
GRI, CRS Life Member NVAR Multi Million Dollar Club
$2,100,000
SILVER LINE METRO
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CLAIRE DRISCOLL
McLean
SPRING REAL ESTATE GUIDE
$1,649,000
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Call/text me at 703-424-0323 or email me at k.patel@weichiert.com to schedule a showing!
Vienna - 1/2 acre - great location
FOR SALE
KIRTI PATEL
SUN GAZETTE
Why rent when you can own!! Gorgeous penthouse level condo 3bedroom/2bath with cathedral ceiling and skylight,sunroom and so much more… Great location near W&OD trail, commuter routes and Leesburg outlet.
considered.
EXQUISITE HOME IN SUMMERWOOD/McLEAN
ABR, GRI My Personalized Service is the Keystone to Your Satisfaction
109 Prosperity Ave # E Leesburg $194,900
$845,000
6934 light-filled Inlet Cover Dr • Fort VAon • $625,000 Spacious 5 bedroom, 3 1/2Belvoir, bath home 1/2 acre. Three fully finished levels Stunning single with generous room family home. sizes. Kitchen with S/S appliances and Living room and corian dining countertops. room presGleaming hardent an elegant wood floors. Cozy setting. main level From family room withkitchen, fireplace. chefs Private deck overdoorway to deck looking lovely natuwith pond view. ral views. McLean Lease-Purchase High School pyra-
Barbara Ann Farmer
31
Reflecting the 11.5-percent growth in home prices last year, income and sales volume jumped for the third year in a row, according to the 2014 National Association of Realtors Member Profile. The survey also found an increase in new and younger members to NAR in 2013. The survey’s results are representative of the nation’s Realtors; members of NAR account for about half of the approximately 2 million active real estate licensees in the U.S. Lawrence Yun, NAR’s chief economist, said recovery in the housing market since the downturn continues to improve the earnings of real estate professionals. “Fueled mostly by rising home sales and prices, the median gross income of a Realtor® increased to $47,700 in 2013 from $43,500 in 2012, marking a 9.6 percent rise and a sharp gain from $34,900 in 2011,” he said. “Although the median number of transactions or commercial deals remained unchanged from last year at 12, this marked a continued return to pre-recession levels after bottoming out at seven transactions in 2008 and 2009.” There are two sides to every real estate transaction — one each for the seller and the buyer. As expected, median gross income and number of transactions generally increases with experience. Last year, NAR members in business for more than 16 years earned $70,200 and made 15 transactions. Those with
three-to-five years earned less than half that amount ($30,100) and had 10 transactions. Incomes also varied by license type, as members licensed as brokers earned $66,300 in 2013, while the median earnings for sales agents increased $1,000 from the previous year to $35,000. Last year also brought an influx of new and younger members to NAR. Years of experience in real estate decreased to 12 years from 13 years in 2012; the typical tenure at a firm decreased to six years from seven years; and the age of members decreased to 56 years from 57 years. Three percent of all Realtors are under 30 years of age, 16 percent are between ages 30 and 44, and 24 percent are 65 and older. “Realtors bring value to buyers and sellers, help build communities, and encourage responsible home-ownership behaviors,” said NAR President Steve Brown, co-owner of Irongate, Inc., Realtors in Dayton, Ohio. “The fact that the number of members with one year or less of experience rose to 9 percent in 2013 from 5 percent the year before shows that those agents getting into the field are attracted to the many benefits and business opportunities that come with being a Realtor.” The typical NAR member works 40 hours per week. Women represent 57 percent of all members, accounting for 53 percent of brokers and 62 percent of sales agents. More than three-quarters of all Realtors cite real estate as their only oc-
SPRING REAL ESTATE GUIDE | A P R I L 2 015
32
cupation, and 82 percent (up two percent from last year) are certain they will remain in the business for at least two more years. This share is higher than the previous two years, indicating the optimism that’s seen in today’s market. Most members – 57 percent – are licensed as sales agents; 26 percent are brokers, 17 percent broker associates and 3 percent appraisers (some hold more than one license). Thirteen percent of members have one personal assistant, while 3 percent have two or more personal assistants. Several factors limit potential clients in completing transactions. Members said finding the right property was the biggest challenge (33 percent) followed by obtaining a mortgage (25 percent). “The survey indicates that inventory shortages, overly restrictive mortgage lending standards and the rise in home prices and interest rates last year had an impact on Realtors’ ability to help their client find the right property,” said Yun. Similar to 2012, eight out of 10 NAR members focus on residential sales and 73 percent have secondary real estate real estate specialties. Of those members with secondary specialties, residential brokerage is the largest at 35 percent. Both residential property management and relocation were next at 17 percent, followed by commercial brokerage at 16 percent. Smaller percentages were also in counseling, land development, auctions and commercial appraisal.
Realtors continue to rely on repeat business and referrals. Repeat business accounted for a median 21 percent of activity in 2013 and is higher for those with more experience. For members in the business 16 years or more, repeat business was 42 percent of their activity. Referrals accounted for an additional 21 percent of all business. NAR members understand the importance of a web presence and communicating with their clients through several channels. More than two-thirds have a personal Web site – operational for a median of eight years – and 91 percent report their firm has an online presence. Sixtyone percent of the respondents use social or professional networking sites, an increase of 5 percent from 2012, and 12 percent have a blog. Realtors use a variety of communications methods when interacting with current clients or customers, with 94 percent preferring e-mail, followed by telephone at 90 percent and text messaging at 80 percent. Compensation structures for Realtors and firm affiliation remained mostly the same from 2012. Sixty-eight percent of respondents are compensated through a split commission arrangement, 17 percent receive all of the commission and another 4 percent receive a commission plus a share of profits; 11 percent received some other form of compensation. Eighty-two percent of members work as independent contractors for their firms.
Sales
Most Localities Post Increases in Median Sales Price: The median sales price for homes across the Washington area during the first quarter of 2015 was up in 11 of 13 jurisdictions, although the growth rate was relatively modest in most of them, according to new data. Prince George’s County showed the highest year-over-year growth rate in the first quarter, with the median sales price rising 9.5 percent to $219,000, according to new figures from RealEstate Business Intelligence, an arm of the local multiple-listing service. It was followed by Alexandria at 9.2 percent and Frederick County, Md., at 7.4 percent. The city of Falls Church again led the pack in median sales price, with its $646,100 up 3.4 percent from a year before. It was followed by Arlington (up 5.7 percent to $533,75), the District of Columbia ($495,000, up 5.3 percent), Alexandria ($484,000, up 9.2 percent) and Fairfax County ($450,000, up 4.7 percent). The only jurisdictions across the region to post declines were Anne Arundel County, with the median sales price down 0.3 percent to $296,000, and the city of Fairfax, down 3 percent to $436,500. Among other major jurisdictions in the inner and outer suburbs: Median sales prices for the first quarter were $417,000 in Loudoun County, up 0.5 percent; $380,000 in Montgomery County, up 1.3 percent; and $315,000 in Prince William County, up 5.4 percent. Figures represent most, but not all, homes on the market. All figures are preliminary, and are subject to revision.
Continued from Page 4
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SUN GAZETTE
Realtors Benefit from Improved Economic Conditions
YOUR LOCAL NEIGHBORHOOD EXPERT Sixth Generation Vienna Native, attended and graduated from Vienna schools, knowledgeable about the neighborhoods and surrounding communities. As your local neighborhood expert, I can manage all your real estate needs, be your referral for business resources, and provide your with buying and selling advice. Please contact me for a free home evaluation consultation to receive your Washington Nationals Baseball Schedule when available (limited supply).
703.508.1799
www.askrealtordee.com welcomedoors@gmail.com 8133 Leesburg Pike Suite 800 Vienna, VA 22182 Each Keller Williams Realty Office is independently owned and operated
cent. The average price for single-family homes actually declined a tick, down 0.3 percent to $583,289. Average prices for attached homes and condominiums were up slightly. The median sales price of $400,000 was up 2.6 percent and was the highest for any March since 2007. All jurisdictions posted increases in median sales prices except Falls Church. Inventory of properties on the market remained above last year’s rate, with just over 9,000 residential properties on the market. The largest increase in inventory came in the condo market, which saw a 22-percent jump. For buyers – and maybe also for sellers – the inventory increase is taken as good news. “All classes of inventories have now increased for 15 months in a row, making this easily the best period for inventory since 2007-08,” said Elliot Eisenberg of RealEstate Business Intelligence. Eisenberg said inventory has returned to historically normal, balanced levels, suggesting it could be good for the market. Data point to a fairly solid spring season, with both the number of pending sales and the number of homes coming under contract higher than a year ago. Figures represent most, but not all, homes on the market. All figures are preliminary, and are subject to revision.
“I wouldn’t dare make a move without calling Chris!”
www.chrisfraleyhomes.com PRICED UNDER TAX ASSESMENT!
1228 Ernestine Street • McLean, Virginia $2,499,000
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FOR SALE
FOR SALE - REDUCED
868 Forestville Meadows Drive • Great Falls, VA $1,199,000
1009 Dranesville Manor Drive • Herndon, Virginia $1,069,000
LUXURY HOME SPECIALIST
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SPRING REAL ESTATE GUIDE
Chris Fraley
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RENOVATION ALMOST COMPLETE!
SUN GAZETTE
FOR SALE - REDUCED
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Evan H. Dockser, ASSOCIATE AGENT LICENSED IN DC/VA
Phone: 301.332.8300 evandockser@gmail.com
A P R I L 2 015
8108 Spruce Valley Lane • Clifton, Virginia
We are negotiating for the buyers on this beautiful property.
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Pressures on Renters May Help Boost Home Sales The gap between rental costs and household income is widening to unsustainable levels in many parts of the country, and the situation could worsen unless new home construction meaningfully rises, according to new research by the National Association of Realtors. NAR reviewed data on income growth, housing costs and changes in the share of renter and owner-occupied households over the past five years in metropolitan statistical areas across the U.S. The findings reveal that renters are being squeezed in many metro areas throughout the country due to the disproportionate growth in rental costs to incomes. New York, Seattle and San Jose, Calif. are among the cities where combined rent growth is far exceeding wages. Lawrence Yun, NAR’s chief econo-
mist, says the disparity between rent and income growth has widened to unhealthy levels and is making it harder for renters to become homeowners. “In the past five years, a typical rent rose 15 percent while the income of renters grew by only 11 percent,” he said. “The gap has worsened in many areas as rents continue to climb and the accelerated pace of hiring has yet to give workers a meaningful bump in pay.” According to Yun, the share of renter households has been increasing and home ownership is falling. Those financially able to buy a home in recent years were insulated from rising housing costs since most take out 30-year fixed-rate mortgages with established monthly payments. Furthermore, a typical homeowners’ net worth climbs because of upticks in home values and declining mortgage
balances. The result has been an unequal distribution of wealth as renters continue to feel the pinch of increasing housing costs every year. “Meanwhile, current renters seeking relief and looking to buy are facing the same dilemma: home prices are rising much faster than their incomes,” Yun said. “With rents taking up a larger chunk of household incomes, it’s difficult for first-time buyers – especially in high-cost areas – to save for an adequate downpayment.” NAR’s research analyzed changes in the share of renters and homeowners, mortgage payments, median home prices, median household income for renters and the rental costs in 70 metro areas. The top markets where renters have seen the highest increase in rents since 2009 are New York, San Jose, Calif., San
Francisco, Denver and Seattle. Looking ahead, Yun says a way to relieve housing costs is to increase the supply of new home construction – particularly to entry-level buyers. Builders have been hesitant since the recession to add supply because of rising construction costs, limited access to credit and concerns about the re-emergence of younger buyers. Yun estimates housing starts need to rise to 1.5 million, which is the historical average. Housing starts have averaged about 766,000 per year over the past seven years. “Many of the metro areas that have experienced the highest rent increases are popular to Millennials because of their employment opportunities,” adds Yun. “With a stronger economy and labor market, it’s critical to increase housing starts for entry-level buyers, or else many will face affordability issues.”
National Home Affordability Is Up in Latest Report
A P R I L 2 015
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SPRING REAL ESTATE GUIDE
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SUN GAZETTE
Continued from Page 18
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“Affordable home prices, historically low mortgage rates and an improving job market will release pent-up demand and help keep the housing market moving forward in the year ahead,” said NAHB chief economist David Crowe. Syracuse, N.Y., claimed the title of the nation’s most affordable major housing market, as 92.8 percent of all new and existing homes sold in the fourth quarter of 2014 were affordable to families earning the area’s median income of
$67,700. Also ranking among the most affordable major housing markets in respective order were Akron, Ohio; Dayton, Ohio; Harrisburg-Carlisle, Pa.; and Scranton-Wilkes-Barre, Pa; the latter two of which tied for fourth place. Meanwhile, Cumberland, Md.-W.Va. topped the affordability chart among smaller markets in the final quarter of 2014. There, 96.2 percent of homes sold during the fourth quarter were affordable to families earning the area’s median income of $54,100. Other smaller
housing markets at the top of the index include Kokomo, Ind.; Wheeling, W.Va.Ohio; Binghamton, N.Y.; and Salisbury, Md. For a ninth consecutive quarter, San Francisco-San Mateo-Redwood City, Calif. was the nation’s least affordable major housing market. There, just 11.1 percent of homes sold in the fourth quarter were affordable to families earning the area’s median income of $100,400. Other major metros at the bottom of the affordability chart were Los Ange-
les-Long Beach-Glendale, Calif.; Santa Ana-Anaheim-Irvine, Calif.; San JoseSunnyvale-Santa Clara, Calif.; and New York-White Plains-Wayne, N.Y. All five least affordable small housing markets were in California. At the very bottom was Napa, where 12 percent of all new and existing homes sold were affordable to families earning the area’s median income of $70,300. Other small markets included Santa Cruz-Watsonville, Salinas, Santa Rosa-Petaluma, and San Luis Obispo-Paso Robles; in descending order.
Florida Sees Population Boom, Surpassing New York Continued from Page 12 Villages, they were Cape Coral-Fort Myers (sixth), Naples-Immokalee-Marco Island (10th), Orlando-Kissimmee-Sanford (16th), North Port-Sarasota-Bradenton (18th) and Panama City (19th). “Florida’s ascension, revealed when the 2014 state population estimates were released last December, was a significant demographic milestone for our country,” Census Bureau director John Thompson said. “These county and metro area estimates provide a more detailed picture of how this happened, showing growth in areas such as central and southern Florida.” Migration to Florida from other states and abroad was heavy enough to overcome the fact that in about half the state’s counties, there were more deaths than births over the 2013 to 2014 period. Lone Star State’s Notable Growth: There were two states – Texas (with 11) and California (with 10) – with even more counties than Florida on the list of the top 50 numerical gainers. Two Texas metro areas – Houston-The Woodlands-Sugar Land and Dallas-Fort Worth-Arlington – were the only ones in the country to add more than 100,000 residents over the 2013-14 period. Within the Houston metro area, Harris County alone gained almost 89,000 people, more than any other county in the nation, according to the Census Bureau.
The Lone Star State also had four metro areas among the nation’s 20 fastest growing by rate of change: Austin-Round Rock (third), Odessa (fourth), Midland (ninth) and Houston (11th). With a population increase of 8.7 percent from July 1, 2013, to July 1, 2014, Williams, N.D., remained the nation’s fastest-growing county (among counties with populations of 10,000 or more in 2013), although its growth slowed from the previous one-year period. Following Williams on the list were Stark, N.D. (7.0 percent), whose growth accelerated from the previous year; Sumter, Fla. (5.4 percent); Pickens, Ala. (5.1 percent); and Hays, Texas (4.8 percent). Other Findings: • Los Angeles, Calif., is still the nation’s most populous county with a July 1, 2014, population surpassing 10.1 million. • Between 2013 and 2014, North Carolina became the ninth-most populous state (up from 10th). Its growth was fueled by two counties that were among the 50 top numerical gainers: Wake (Raleigh), which added about 24,000 people over the period, and Mecklenburg (Charlotte), which grew by about 20,000. • Although New York fell out of third place in state population between 2013 and 2014, it did have three counties among the top 50 numerical gainers. Each was a New York City borough: Kings (Brooklyn), which added about 19,000; Queens, which
gained about 18,000; and Bronx (with an increase of about 11,000). • Among the largest counties (those with total populations of 250,000 or more in 2013), the three fastest growing were in Texas: Fort Bend, Montgomery and Williamson. Each grew by at least 3.8 percent over the period. • Among very small counties, Sterling, Texas, was the fastest growing of those with a population of fewer than 5,000 people in 2013 (8.9 percent growth). Among those in the 5,000-9,999 population range, McKenzie, N.D., led in rate of growth (18.3 percent). • The fastest-losing county between July 1, 2013, and July 1, 2014 (among counties with 2013 populations of 10,000 or more) was Chattahoochee, Ga., which declined by 4.2 percent. Hale, Texas (-3 percent) and Colfax, N.M. (-2.9 percent) followed. • Wayne, Mich. (Detroit) remains the county with the largest numeric decline, by far, at just less than 11,000. The next largest decline belonged to Cuyahoga, Ohio (Cleveland) at slightly more than 4,000. • The Carolinas were home to four of the nation’s 20 fastest-growing metro areas between 2013 and 2014: Myrtle BeachConway-North Myrtle Beach, S.C.-N.C. (second); Hilton Head Island-BlufftonBeaufort, S.C. (13th); Raleigh, N.C. (15th); and Charleston-North Charleston, S.C. (17th). • The nation’s metro areas contained about 272.7 million people in 2014, an in-
crease of about 2.4 million from 2013. • Bismarck, N.D., was the fastest-growing metro area outside of the South or West between 2013 and 2014 (22nd overall). • Overall, 298 of the 381 metro areas in the United States gained population between 2013 and 2014. • There were 53 metro areas with 2014 populations of 1 million or more. New York was the nation’s largest metro area in 2014, with about 20.1 million people. • The Tucson, Ariz., metro area surpassed the 1 million population threshold between 2013 and 2014. Full data can be found on the U.S. Census Bureau’s Web site at www.census.gov.
Favorite TV Continued from Page 24 giance: My preference typically is not for shows catering to homeowners or future homeowners. I like shows like “Million Dollar Listing.” While these shows focus on Realtors trying to sell homes, I feel the show’s producers do a good job of highlighting homes that are unique to that area of the country; thus not the same architecture I have become accustomed to. So for me, I find the brownstones of Brooklyn or the one-story glass houses of Los Angeles a welcome distraction. Plus, it is interesting to see what homes are selling for in these regions.
New Homes Showing Increasing Levels of Sustainability During New Homes Month in April, the National Association of Home Builders (NAHB) is showing how new homes increasingly offer the energy-efficient features home buyers seek. Surveys indicate that efficiency is among the most-wanted features of home buyers and that builders are responding to this demand. “Our builder members are telling us that more and more buyers are looking at new homes for their efficiency in design and functionality,” said NAHB chairman Tom Woods, a home builder from Blue Springs, Mo. “Whether it’s improved insulation or sustainable building materials, today’s new
homes can reach higher energy performance and greater durability than was possible even 20 years ago. And programs like the National Green Building Standard help consumers achieve their efficiency needs.” As more Millennials enter the housing market, they are sharing what features are most likely to affect their home buying decisions. An NAHB survey revealed that Energy Star certifications are a priority for these home buyers. In fact, 84 percent of this group is willing to pay 2-3 percent more for an energy-efficient home as long as they can see a return on their power bills.
NAHB also surveyed home builders about the features they are most likely to include in new homes they build this year. Four of the top 10 features focused on energy efficiency: low-E windows, Energy Star-rated appliances and windows and programmable thermostats. Some home buyers are looking for even more sustainable features, prompting an increasing number of single-family and multifamily builders to deliver green homes. Green builders incorporate energy, water and resource efficiency; improved indoor environmental quality and sustainable and locally sourced products into their proj-
ects. An NAHB survey of single-family home builders revealed that nearly 25 percent of builders installed alternative energy-producing equipment in new construction. This includes geothermal heat pumps and photovoltaic solar panels. The current 30-percent tax credit available for homeowners who install this equipment is set to expire at the end of 2016, which makes this a good time for interested buyers to consider purchases. Home buyers can access home buying and home building information and resources at nahb.org/forconsumers.
National Pending-Home Sales Show Increase in February we head into the spring buying season. “Pending sales showed solid gains last month, driven by a steadily-improving labor market, mortgage rates hovering around 4 percent and the likelihood of more renters looking to hedge against increasing rents,” he said. “These factors bode well for the prospect of an uptick in sales in coming months. However, the underlying obstacle – especially for first-time buyers – continues to be the depressed level of homes available for sale.” According to NAR’s monthly Realtors Confidence Index, the percent share of firsttime buyers increased slightly for the first time in February since November 2014, up to 29 percent from 28 percent in January. “Several markets remain highly-competitive due to supply pressures, and Realtors®
are reporting severe shortages of move-in ready and available properties in lower price ranges,” adds Yun. “The return of first-time buyers this year will depend on how quickly inventory shows up in the market.” The PHSI in the Northeast fell 2.3 percent to 81.7 in February, but is 4.1 percent above a year ago. In the Midwest the index leaped 11.6 percent to 110.4 in February, and is now 13.8 percent above February 2014. Pending home sales in the South decreased 1.4 percent to an index of 120.2 in February, but is still 10.8 percent above last February. The index in the West climbed 6.6 percent in February to 102.1 (highest since June 2013 at 111.4) and is now 18.3 percent above a year ago. Total existing-homes sales in 2015 are
forecast to be around 5.25 million, an increase of 6.4 percent from 2014. The national median existing-home price for all of this year is expected to increase around 5.6 percent. In 2014, existing-home sales declined 2.9 percent and prices rose 5.7 percent. The Sun Gazette and its predecessors have been on top of the local real estate scene since the 1930s, and the situation continued both in print and on the Internet. You can find full coverage of the local, regional and state markets by the most seasoned teams of localnews pros in the area. We’ve got the full scoop.
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Pending home sales in February increased to their highest level since June 2013 as sizeable gains in the Midwest and West offset smaller declines in the Northeast and South, according to the National Association of Realtors. The Pending Home Sales Index, a forward-looking indicator based on contract signings, rose 3.1 percent to 106.9 in February from a slight downward revision of 103.7 in January and is now 12.0 percent above February 2014 (95.4). The index is at its highest level since June 2013 (109.4), has increased year-over-year for six consecutive months and is above 100 – considered an average level of activity – for the 10th consecutive month. Lawrence Yun, NAR’s chief economist, says demand appears to be strengthening as
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Prelude Dr ~ $797,500
Arabian Ave ~ Call for Price!
Yeonas Dr SW ~ Call for Price!
Stone Meadow ~ $979,900
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Polly St SE ~ $1,549,900
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LONG FOSTER 2014 TOP& PRODUCERS ®
LONG & FOSTER TYSONS CORNER
RESIDENTIAL/COMMERCIAL REAL ESTATE
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Long & Foster
Individual The Choice is Obvious. Top Top Producer #1 in McLeanSalesperson & Top Lister 23%
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14% 6% Weichert Realtors
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KW - Mc Lean / 22101
McEnearney Associates
5% Washington Fine Properties
No one has more expertise selling homes than Long & Foster®.
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Source: Information based on data supplied by MRIS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. January 1, 2011 – December 31, 2011. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of MRIS or Long & Foster Real Estate, Inc. ©2012 All rights reserved.
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Parade of Homes SPRING 2015 9.75x14.pdf 1 4/10/2015 1:01:39 PM
Tour Homes by
Northern Virginia’s Trendsetting New Home Builders & Remodelers Masterpieces Made Here
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Historic Pedigree, 21st-Century Amenities
Post-War Colonial Has Been Updated to Offer All Modern Conveniences
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Featured Property
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The year was 1950, and the post-war economic boom was underway. New construction was proliferating across Arlington and Northern Virginia, with the increasingly affluent residents trading up from starter homes to more substantial dwellings. This week’s featured properties was among those what whetted the aspirations of prospective purchasers. A classic post-war colonial set on convenient the large brick patio. Washington Boulevard – with easy acOur tour begins in the front hall, with cess both to Ballston and Westover – the a charming staircase, then we are escorthome proved a winner from the very be- ed to the sumptuous, large formal living ginning. room, with a lovely fireplace. Sparkling And today, having been fully updated hardwoods will follow us as we walk from to meet the needs of 21st-century living, room to room. the home is a showplace that combines The formal dining room is large past, present and future in a single pack- enough to host a soirée, with lovely views age of elegance and excellence. of the rear yard. The property currently is on the marThe kitchen is a standout: Aesthetiket, listed at $1,095,000 by Libby Ross of cally appealing, it also is fully functional, Long & Foster Real Estate. with a separate morning area and access Set majestically on a lot of more than to the rear deck. 11,000 square feet with verdant landscapA den/family room is bathed in natuing all around, the home’s curb appeal ral sunlight, with step-down access to the gives an indication of what is to come. brick patio and carriage house in the rear Those lucky enough to explore the do- yard. mains will find a property that is a charmThe master retreat is the highlight of er for daily living, and truly shines when the second level, occupying a front-to-rear INSIDENOVA pocket-sized. called on to entertain a crowd – whether wing of the home and providing access to Now no matter where you are, inside, out on the elevated or onnews, a rooftop deck from which to enjoy your you can get alldeck, your local INSIDENOVA pocket-sized. sports, and traffic.
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INSIDENOVA
Now no matter where you are, thelocal InsideNoVa app, then youDownload can get all your news, follow all the sports, andnews traffic. in Northern Virginia,
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domains. It also contains a lovely bath. Two additional bedrooms are found on this level. Each is amply proportioned, and they share a bath. The lower level, with separate access is home to the casual recreation room, with a club-style “retro” bar area for those times when entertaining is in order, as well as a unique greenhouse window. There also is an exercise room, a spacious bathroom and laundry area. The landscaped yard features curved walks and beautiful plantings, and the carriage house showcases the ambiance of Georgetown or even Charleston, S.C. The best of classic and modern is always in style, and is on display here. Articles are prepared by the Sun
Gazette’s real estate advertising department on behalf of clients. For information on the home, contact the listing agent. For information on having a house reviewed, contact the Sun Gazette’s real estate advertising department at (703) 738-2520.
Facts for buyers Address: 5212 Washington Boulevard, Arlington (22205). Listed at: $1,095,000 by Libby Ross, Long & Foster Real Estate (703) 5220500. Schools: McKinley Elementary, Swanson Middle, Washington-Lee High School.
Now no matter where you are, you can get all your local news, sports, and traffic. Download the InsideNoVa app, then follow all the news in Northern Virginia anywhere you go. DOWNLOAD YOUR FREE INSIDENOVA APP AT THE ITUNES STORE OR GOOGLE PLAY.
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I N T E R N A T I O N A L
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FI N E P RO P E RTI E S
Over $2 Billion Sold
Over 2.5 Billion Sold
Tours of These & Other Homes at www.margenau.com
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Virginia’s Leader in Luxury and International Real Estate | Over $97 Million Sold in 2013
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7629 Burford Drive McLean, VA 22102 $2,495,000
BRICK & STONE CUSTOM HOME BUILT BY DEAN DESIGN HOMES 4-car garage home on 1 acre lot in highly desired Olde Swinks Mill Estates. 3 levels with black walnut hardwood floors on main and upper level, stunning family room with stone wall fireplace and wet bar, gourmet kitchen with top of the line appliances and beautiful backsplash. Owner’s retreat suite with hand-scrapped hardwood floors, fireplace, large his & her closets, and luxurious master bath. Lower level includes large rec & game room, and media room. Outdoor living with porch, in-ground pool & patio. Great value in Mclean, this home is priced at its tax assessed value and Zillow estimates the value at $3,108,889.
11115 Loran Road Great Falls, VA 22066
$774,900 10102 Alsace Court Great Falls, VA 22066
$1,165,000 805 Constellation Drive Great Falls, VA 22066
$1,650,898 811 Leigh Mill Road Great Falls, VA 22066
$2,825,000
$2,795,000 7845 Westmont Lane McLean, VA 22102
$3,799,900 8611 Georgetown Pike McLean, VA 22101
$5,399,000
$1,244,000 2461 Fardale Street Vienna, VA 22180
$1,678,050 2200 Aryness Drive Vienna, VA 22182
$2,250,000
$1,265,000 7283 Highland Estates Place Falls Church, VA 22043
$1,369,000
680 River Bend Road Great Falls, VA 22066
2921 Strathaven Place Vienna, VA 22181
11403 Wild Bramble Way Reston, VA 20194
$3,287,550 7112 Elizabeth Drive McLean, VA 22101
$869,999 10348 Brittenford Drive Vienna, VA 22182
$1,125,000 2905 Hibbard Street Oakton, VA 22124
13104 Laurel Glen Road Clifton, VA 20124
$2,495,900
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GREAT VALUE!
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Casey Margenau Fine Homes & Estates, Inc.
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Jane Webb 703.582.8381
Robert Fitton, II 703.577.1747
Lee Brady 703.801.0025
Ashley Muldoon 703.431.1705
Joe Muldoon 202.714.7656
Colin Feuling 703.863.6033
www.margenau.com 703.827.5777