Lee's Square Condo's in Manassas Virginia

I wrote an article over a year back about a community named Lee's Commons by Ryan Homes at the time a client I represented was considering to buy. My client decided not to buy in that community and chase the elusive REO and the abundant short sale market. With no warning Ryan Homes, the builder, pulled all their equipment, signs and sales office located in the future community. Considering the economy and housing market it was no surprise to find out that the site developer who owned the land had filed for bankruptcy. This left the City of Manassas residence with an unsightly empty real estate lot where some dumped trash and an unfinished building stood reminiscent of abandoned homes in Detroit.

Many who pass this part of route 28 in Old Town Manassas, and prospective buyers will be absolutely thrilled to know that K Hovnanian Homes has arrived. The resurrected community has been renamed Lee Square and will start exactly where the last builder left off. Currently there is no sales office to speak of but K Hovnanian will be placing one there in the near future, surely shooting for the spring market.
I do get asked the question a lot whether a new home is a good deal or is resale the best route to go. The answer to this is based off individual needs but when it comes down to just price a resale home normally wins out. These homes, however, are aggressively priced for being new builds and close amenities that Old Town Manassas has to offer including the VRE and all the other businesses. The pricing for this real estate is exactly where the previous builder was a year ago, the only difference is there are less REO's (aka foreclosures) available which makes the price more attractive. I, of course, recommend before stopping in to any new builder sales office to employee a Realtor to go with you. There are many reasons why a buyer should have an agent and for the reasons why read this article, Negotiating with New Home Builders in Northern Virginia.

The resale value should remain strong on these units in the future due to the fact of all that Old Town Manassas has to offer. Those commuters that do not want to fight traffic have the VRE within walking distance to these condos. There are also plenty of attractions and restaurants that are within walking distance which makes it attractive to those who want to save on gas. The popularity of True walkable Communities have increased of the past few years and will continue in the future. For more information on the Old Town Manassas area take a look at this article, Relocation information on Manassas Va.
Those buyers looking for a good value on a new condo should consider the Lee Square community. Please contact me if you need a real estate agent to represent you and help negotiate and understand the pitfalls of the builder's sales contract. Remember the builder will pay your agents commission.

Joey Remondino is a full time Realtor and Broker with StoneHouse Realty Inc. Specializing in residential and commercial real estate in Northern Virginia including Manassas City, Manassas Park, Prince William, and Fairfax. Trained and experienced expert in New Home Sales, Relocation, Short Sales, REO's, foreclosures, investments, and commercial real estate. Joey can guide you through the real estate buying or selling process.

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