Jeff Wu

In the 4th Quarter of 2008 there were 8 SOLD properties in the Rotonda. The majority of those, 5, were 2 bedroom 2 bathroom models. More data is below.


However as a whole the community averages for the 4th Quarter of 2008 are as follows =


- 94.8% Net Sold to List price ratio


- 132 Average Days on the Market


- $1,812.50 Average Seller Concessions





In the 4th Quarter of 2008 there was slightly more happening in the Rental market in the Rotonda. 9 properties were RENTED in that quarter. Unlike in the sales side, the majority of these, 6, were 1 bedroom 1 bathroom models.


The community averages for the Rotonda Rentals in the 4th Quarter of 2008 are =


- 93.5% Rented to List price ratio


- 51 Average Days on the Market

(data from MRIS)

There were two interesting decisions/approvals by the Town of Vienna and it's governing council:

1) A new building was approved, on 12/15/08, at 137 Church St, NW. The new building will house the YAS bakery, to include: it's main area, work room, lunch room, and a small office. The building will also have room for a few other renters/tenants. The new structure will bring improvements to the stormwater management abilities of the current site.

2) The Town Council also took vote to approve more defined restrictions on portable storage containers. These containers will be allowed, only in residential single family home areas, for no more than 30 days in a year period. They will also be permitted for no longer than 6 months on active construction areas. Mentions to limitations on the size of such containers, and a fee to the town, were also inlcuded in the ordinance amendment.

(source = Sun Gazette, 1-1-2009)

Although not directly part of Tysons Corner, The Town of Vienna borders it. The Town of Vienna is also chock full of great history and culture.

The Rotonda was significantly more active in terms of Real Estate transactions compared to most of ther other Tysons Corner communities for December 2008. There were 5 SOLD properties, and "x" RENTED properties.

Of the 5 SOLD properties this month, 4 were 2 bedroom 2 bathroom style, the other 1 was a 1 bedroom 1 bathroom. These 2 bedrooms averaged out to sell for $362,225 and in an average of 117 days on the market. The high SOLD price was $385,000, with the low SOLD price being $290,000. There was also an average subsidy, to the buyer, of $2,375.
The 1 bedroom settled at a price of $255,000 and gave $5,000 subsidy to the buyer. It was on the market for 111 days, and originally asked a price of $305,000.

The 0 (zero) properties reported RENTED in the Rotonda community this month are significantly off from the 6 that RENTED in December of 2007. There are also 17 properties available to RENT right now at the Rotonda. Recognizably, it's not the hottest time that people RENT around the changing of the year, but you would think that if priced attractively enough there would be one or two that got a lease signed.

(data from MRIS)

Although the temperatures aren't very high in December there was still some life in the Fountains real estate market.

In December there were 1 SOLD property, and 3 RENTED properties at the Fountains at McLean.

The property that SOLD in December was a 1 bedroom 1 bathroom Pine model. It took 174 days to get a CONTRACT. The home sold for $215,000 and gave the buyer another $5,500 in subsidy. That equals out to a net to the seller of $209,500. This was also equivelant to 89% of the original asking price.

The 3 properties that RENTED in this month were all of the 1 bedroom 1 bathroom variety. They RENTED for an average of $1300/month, and in an average of 97 days on the market. There was a high rent of $1350/month, and a low rent of $1250/month. The properties that RENTED were all 3 different models: Spruce, Birch, and Elm.

(data from MRIS)

What happened in the Gates of McLean in December of 2008? Well in terms of Real Estate, here's a recap:

There was 1 SOLD property, and 0 (zero) properties that RENTED.

The property that SOLD was a 2 bedroom 2 bathroom Preston model. This is the biggest 2 bedroom in the mid-rise buildings (see earlier blog if not sure about mid-rise vs. garden style building). This home sold for $$317,000 with a subsidy of $8,000. So an effective net price to the seller of $309,000. Coincidentally this was a bank owned property.

The lack of rental activity is not suprising. December is one of the most unappealing months to move, as people don't often like to move: a) during the winter, or b) close to the holidays. One would think that in a community of so many homes, and 40+ being rented each year, that there would be at least one rented in December. However, in the same month last year, 2007, there were also 0 (zero) RENTED properties.

(data from MRIS)