Jeff Wu

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)

December is always a fun month in general. Lots of Holidays, and the coming of the new year. This year was no different. However, all those things are independant of real estate.

In the Lillian Court neighborhood in December there was 1 property SOLD, and 4 properties RENTED.

The only SOLD property of the month was a 2 bedroom 2 bathroom 1002 square foot Jacob model. It SOLD for $370,000. The property was on the market for 30 days. When first going on the market it had been available simultaneously for RENT or for SALE. It SOLD for 92.5% of it's original list price.

Of the 4 properties RENTED in December 2008, 3 were 1 bedrooms, and the other was a 2 bedroom 2 bathroom.
The 1 bedrooms rented for an average of $1358/month. With the high rent being $1425/month for a larger model (988 sqft) and the low, $1300/month, going for a smaller model (753 sqft). The 1 bedrooms were on the market an average of 55 days.
The 2 bedroom 2 bathroom, on 2 levels, rented for $1790 in 70 days.

(data from MRIS)

The Lillian Court real estate market has 7 properties available right now. 4 of those are for rent, and the other 3 are for purchase.

Rent

There are 4 completely different homes for rent. And accordingly so, they all have a different rental asking price.
- One Bedroom One Bathroom asking $1,350/month
- Two Bedroom One Bathroom asking $1,496/month
- Three Bedroom Three Bathroom, on Two levels, asking $2,300/month
- Two Bedroom Two Bathroom asking $2,500/month

For Purchase

Just like the properties for rent there are 3 different models for sale, and each has a different asking price to buy.
- One Bedroom One Bathroom asking $249,900
- Two Bedroom One Bathroom asking $280,000
- Two Bedroom Two Bathroom, on Two Levels, asking $349,900

(data from MRIS)

U.S. News and World Report has recently named 4 County High Schools to the Nations top 100. This is out of a review of over 1,900 schools in 48 states. The evaluation was based on college readiness, participation and performance in AP (advanced placement) tests, participation and performance on IB (international Baccalaureate) tests, and proficiency on standardized state tests. For the 2nd straight year Thomas Jefferson High School for Science and Technology (TJHSST), the county's magnet school, was ranked 1st in the nation.

Following TJ on the list of the Nation's Top Schools were McLean High School at 55th, Langley High School at 76th, and Woodson High School at 90th.

There were other schools that earned recognition referred to as Silver or Bronze recognition. This was earned by achieving certain criteria. In Fairfax County there were 7 schools that earned the Silver Designation (in alphabetical order) = Chantilly High School, Lake Braddock Secondary School, Madison High School, Marshall High School, Oakton High School, Robinson Secondary School, and Stuart High School.