Brian Block -- Northern Virginia & D.C. Real Estate

Happy Birthday!

Today marks 65 years since The Pentagon in Arlington, Virginia was dedicated on January 15, 1943. For 65 years, The Pentagon has remained the largest office in the world. Over 23,000 military and civilian employees and about 3,000 non-defense support persons work in this massive five-sided building just across the Potomac River from Washington D.C.

Take a look at the image below to get an idea of the size of this 6.6 million square feet office building.

U.S. Military personnel from all around the world often get the chance to relocate to work in the Pentagon. All branches of the military have offices in this headquarters for the Department of Defense.

Pentagon employees choose to live throughout the metro-D.C. area. There's even a sophisticated system of cooperative transportation to and from the Pentagon called slugging (with its own etiquette, rules, and official or unofficial commuter stops).

An entire infrastructure of residential neighborhoods, restaurants, and shopping have developed around the Pentagon area. Across Army-Navy Drive from the Pentagon sits one of the area's largest shopping malls, The Fashion Centre at Pentagon City, anchored by Macy's and Nordstroms. More recently, Pentagon Row was developed adjacent to The Fashion Centre and includes many outdoor eateries, a gym, spa, and a Harris Teeter grocery store.

Many options exist for housing when you are part of a military relocation to The Pentagon. Bus routes, and the Metro subway lines all lead to The Pentagon, and there are also many carpooling options, making living further out from Arlington a possibility for Pentagon employees. Arlington, Virginia itself is quite a hot market still for real estate sales (Read All About It: Arlington Virginia Housing Market a Hot Spot for Sales).

For help with your Military Relocation to The Pentagon and the Northern Virginia or D.C. area, contact Brian Block at 703-626-0715 and visit our Northern Virginia real estate website.

MILITARY RELOCATION TO THE PENTAGON? START YOUR HOME SEARCH TODAY.

Recent sales activity and current inventory in Arlington, Virginia make it the hottest place to sell a home in the metropolitan D.C. area. Hotter than neighboring Alexandria, Fairfax County, and even Washington D.C. Loudoun County and Prince William County lag far behind in sales activity measured by market absorption rates.

Absorption rate is a measure of how quickly existing inventory of homes for sale will sell at current rates assuming no further inventory is brought onto the market. For this analysis, I examined how many homes are currently on the market in each city or county and divided it by the number of sales in that jurisdiction for the month of December 2007. The resulting chart shows the number of months of available housing stock.

As you can see, sales are still brisk in Arlington which has half as much comparable inventory as Loudoun County and less than 1/3 of that of Prince William County. Sellers in those counties are in for a tough time unless they absolutely price the home right.

Recent Home Sales in Arlington, Virginia

Home sales in Arlington, Virginia for December 2007 totaled 184 homes at an average price of $576,159. The average sales price was up 4.33% from December 2006, but the number of sales were down a significant 26.4%. Spending an average of only 73 days on the market, homes in Arlington are selling much faster than in many other Northern Virginia jurisdictions.

Here's a breakdown of December 2007 Arlington home sales by area:

Clarendon (22201 zip code): 47 homes sold. Average sales price of $635,010 was down just slightly (1.5%) from December 2006. Number of sales rose by 4%. Some of the most popular condos in Arlington are in the Clarendon neighborhood including Clarendon 1021, Odyssey Condos, Station Square Condos, and the older but popular Colonial Village. Homes in Clarendon were selling quickly at only 60 days on the market.

Aurora Hills/Crystal City (22202): 19 homes sold at an average price of $431,892 representing a 10% increase over December 2006. Additionally, the number of units sold was up significantly from the previous year. Popular areas here include Crystal Park, the Eclipse Condos (near Potomac Yards and Ronald Reagan National Airport), Crystal Gateway, and Horizon House.

Ballston (22203): Although the number of units sold was down significantly by 35.7% from December 2006, the homes that do sell in Ballston (18 in December 2007) are selling very quickly. In fact, this is the quickest selling area of Arlington with the average home on the market for only 42 days! The average sales price for December 2007 was $525,544, a 10% increase from the previous December. Residential neighborhoods here include Arlington Oaks, Ashton Heights, and Bonair. There are lots of high-rise condominium communities to choose from including the Alta Vista, Ballston 880, Continental, Hyde Park, Hawthorn Condos, and Tower Villas.

South Arlington (22204): 31 homes sold. With 207 homes currently available, this area has the most available homes of any location in Arlington. The December 2007 sales price averaged $361,307 and sales volume was also down by 34% compared to the previous December. South of Route 50, this area of Arlington includes homes in Alcova Heights, Alcova Row, Arlington Forest, Arlington Village, Barcroft, Columbia Knolls, Douglas Park, Park Glen and Park Spring.

Westover (22205): Only 9 homes sold. The average sales price for December 2007 was virtually unchanged from December 2006 at $698,611, but the sales volume was way down from the 25 that sold the previous December. In addition to the Westover community, this area of Arlington County includes Dominion Hills, Lacey Forest, Larchmont, Madison Manor, and Tuckahoe Village.

Shirlington (22206): 21 homes sold at a virtually unchanged average sales price of $369,869. Homes in Shirlington are also selling pretty quickly spending an average of 53 days on the market. In addition to some new condos, this area includes the established neighborhoods of Courtbridge, Fairlington, The Arlington, and Windgate of Arlington.

North Arlington (22207): 19 homes sold. This is the most expensive area of Arlington with the average sales price reaching $1,093,063, a remarkable 49.7% increase from December 2006. Many fewer homes sold in December 2007 than the previous year and with an average time on market of 153 days. Additionally, while most homes in Arlington sold for around 95% of the asking price, there's a bit more negotiating room here as shown by the 89.5% ratio of sales price to listing price. Areas here include Arlingwood, Bellevue Forest, Broyhill Forest, Cherrydale, Country Club Hills, Lee Heights, Shirley Woods, and Woodmont.

Rosslyn (22209); 15 homes sold at an average price of $582,694. There's some negotiating room here too, as the sales price to listing price ratio was 92% -- lower than most areas of Arlington. Popular living choices in Rosslyn include the Atrium Condos, Belvedere Condos, Bromptons at Rosslyn, Prospect House, River Place, and The Weslie.

West Arlington (22213); Just 3 home sales for December 2007. The average sales price here was $827,667 and the 3 homes spent an average of 166 days on the market. This small area of Arlington County includes Berkshire Oakwood, Falls Station, and The Westlee.

Current Inventory of Homes for Sale in Arlington (as of January 14, 2008):

CLICK HERE TO START SEARCHING FOR A HOME IN ARLINGTON OR ELSEWHERE IN NORTHERN VIRGINIA

One more note -- there are very few foreclosures in Arlington (see comparison between Arlington and other areas of Northern Virginia).

If you are interested in information on foreclosures, please e-mail me with the subject line "foreclosures" and I can send you information on those homes.

Are you thinking about selling your house?

Well, Come on Down! You're the Next Contestant on The Price is Right!

If you're like me, you might have spent your formative years of your childhood in front of the television listening to the late Johnny Olson or Rod Roddy bellowing that famous line before excited contestants scurried down the aisle and ran up to plant a wet one on Bob Barker's cheek. A 35 year era in television game shows ended June 15, 2007 when Bob Barker hosted his final show. Drew Carey has taken over hosting duties and holds court as contestants bid on prizes, spin the big wheel, and compete in the Showcase Showdown.

On the famous game show, contestants were cautioned to be the closest bid to the actual retail price without going over the price. If their guess was higher than the actual price of an item, they automatically lost the game. Okay, enough of the rules, you know how the game works.

Well, I may have the same initials as Bob Barker, and I'm quite a bit younger, have less gray hair, and a bit better looking (or so I've been told).

VS.

My job as a professional Realtor is to guide my clients who wish to sell their homes and make sure that The Price is Right! As a listing agent, I am the host of your house when it's on the market. You want the winning bid to come in from buyers looking at your home. My job is to help you price your home correctly for the current real estate market.

To do this, I'll provide you with detailed information about homes that have sold in your neighborhood, homes that are currently on the market, and homes that did not sell. We might even go out together to look at homes currently on the market that will be competing against yours in order to determine a competitive price for yours. I call this the seller's field trip. No permission slips needed.

On The Price is Right, audience members often shouted out suggested bids to try to help the contestants. Similarly, your neighbors, friends, and colleagues may try to give you advice on pricing when you decide to sell your home. It's best to leave the advice for the professional Realtor who knows the market, has your interests in mind, and will help price your home to sell -- not to sit.

If you have a home to sell in Northern Virginia or Washington D.C., call me today at 703-626-0715, visit my Northern Virginia real estate website, or e-mail me at brian@brianblock.com. We'll discuss a strategy for setting the right price and you'll come away a winner.

I may even let you give me a kiss on the cheek.

If The Price isn't Right, all you'll get are a few useless parting gifts.

Say this five times fast: "Catch a Cool Cameron Station Condo While You Can." It's not a tongue twister -- it's real estate advice.

The holidays are over and you've decided to begin your home search in earnest. One of your New Year's resolutions may be to purchase a home in 2008. Due to dropping prices and rising inventory, You Might Actually Afford a Home in 2008.

Cameron Station ranks as one of Alexandria, Virginia's premier communities. The neighborhood is conveniently located off of Duke Street, with easy access to major highways I-395, I-495, and I-95. Less than a mile from the shopping of Landmark Mall and only 10 minutes from Old Town Alexandria, the community offers an easy commute for people working at the Pentagon, in D.C., or anywhere throughout the metro-D.C. area. Cameron Station offers a mix of condominiums, townhouses and several single family homes.

50+ acre Ben Brenman Park is adjacent to the community and most residents consider it their own beautiful backyard. Features of the park include softball, baseball and soccer fields, a lake with gazebo and fountains, a picnic pavilion with grills, bike and walking trails, a fenced dog park, and a child's playground.

Across Duke Street from the Cameron Station entrance is Charles E. Beatley Library, the main library for the City of Alexandria. A 24-hour CVS and Landmark Honda are also across the street. A new Harris Teeter grocery store is just down Duke Street.

Within Cameron Station itself, make sure to try the fabulous new eatery Food Matters, which serves a variety of organic and locally grown food.

Condos in Cameron Station

As of January 4, 2007, there are 17 condominium units on the market in Cameron Station. These range in price from $329,000 to $524,000 with an average price of $421,076.

There are 1 bedroom, 2 bedroom, and 3 bedroom condos available. The Cameron Station condos have been on the market for an average of 77 days.

5 Cameron Station condos sold in December 2007 at an average sales price of $459,400. There remains some room for negotiation. The average final sales price in December represented a 4% discount from the original listing price.

Prices have generally been trending down slightly.

1st Quarter 2007 -- $452,190
2nd Quarter 2007 -- $451,073
3rd Quarter 2007 -- $434,147
4th Quarter 2007 -- $441,935
Current List Price -- $421,076

CLICK HERE TO RECEIVE E-MAIL NOTIFICATION ABOUT CAMERON STATION CONDOS

There are also 11 townhouses currently on the market in Cameron Station. These range in price from $545,000 to $850,000 with an average price of $694,245. 7 Cameron Station townhouses sold in December 2007, so you'll need to hurry to make an offer because inventories are low.

CLICK HERE TO CATCH A CAMERON STATION CONDO OR TOWNHOUSE

For more information on the Cameron Station community or more details about currently available homes in Cameron Station or anywhere in Northern Virginia, please call Brian Block, RE/MAX Allegiance, 703-626-0715 or contact Brian by e-mail.