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Holly Weatherwax--Your Realtor® in Northern VA

Understanding Northern Virginia Buyers


My real estate practice includes working both with Buyers and with Sellers. I try to work equally with each type of client. I believe that understanding how each group is thinking helps me to better represent the other group.

I have been talking to listing clients lately and found myself repeating what I am seeing my buyers looking for in a new home. Just as all all real estate is local (which usually relates to price), so are the preferences shown by buyers.

Northern Virginia buyers are, as a whole, extremely well educated and informed about local real estate. Both their expectations and their standards are high--at all price points. I find that they appreciate advice, but often keep their own council as to what features and updates they must have in a new house.

Here are some of the things I have seen as important to buyers in the Northern Virginia Real Estate market:

  • Granite counter-tops
  • Stainless Steel appliances
  • Hardwood floors and stairsChecklist
  • Updated lighting fixtures
  • New carpet
  • Fresh, neutral (but not flat white) paint
  • Crown molding
  • Outdoor space (deck, patio, balcony)
  • The property is in fantastic condition
This is list is not new or unique, but it should be a guide for sellers as they think about preparing their home for sale. The properties that get the most money and sell the most quickly are those that the sellers invest some time and money to update the property to local buyer standards.

If you are a buyer, don't underestimate the value of considering a home that maybe does not have these updates and one that you could put your updates into. You may find that an house without updates will take a little work and an initial investment, but you will have a home that suits your tastes and preferences.

If you are a seller, think like a buyer as you prepare to sell your home. Knowing what updates are important to a buyer will help you prioritize your home sale preparations.

Understanding how the person on the other side of a transaction is thinking will help you make good decisions as you contemplate your Northern Virginia real estate transaction.

Freezin' for a Reason, this Weekend at Lake Anne, Reston, VA

If you haven't gotten out to enjoy the beautiful weather in Northern Virginia this week, you might want to head over to the Lake Anne Plaza waterfront tomorrow, 2/4/2012, from 1-3 p.m. and join in the 5th Annual Freezin' for A Reason. This event benefits Camp Sunshine.

The Polar Dip will take place at 2:00 p.m. I just looked at the weather and itFreezing looks like it will be overcast, but close to 50 degrees!

Participants are asked to register and the registration costs $100, again to benefit Camp Sunshine. Spectators can, of course, watch the fun for free. There will be activities and a post-dip celebration. There a number of great restaurants, a coffee shop, a drug store and more great places to pick up drinks and food while you are waiting for the big dip.

If you aren't familiar with Camp Sunshine, it is a camp for children with life-threatening diseases and their families.

Best of luck to all the Polar Dip participants...bring warm clothes for when you get out!

Clean Out That Closet and Make a Dream Come True

It is time for the annual Diva Central Dress Drive sponsored by the Reston Community Center, Reston, Virginia.

The drive, which runs from January 9 through February 25, 2012 collects dresses, shoes, jewelry, hand bags, shawls and accessories. Donations should be in good condition and no more than 5 years old (2007 or more recent). It is requested that they be dry cleaned prior to donating, but if that is not possible, the donation will still be accepted, just notify RCC at drop-off.

Donations can be made at the Reston Community Center Hunters Woods, 2310 Colts Neck Road, Reston VA 20191.

The big event, Diva Central, will be held on Saturday, March 10 from 12:00 p.m. to 6:00 p.m. at the Reston Community Center Lake Anne location (1609-A Washington Plaza, Reston, 20190). Any high school student who is in need of a prom dress can come in and select the dress of their choice (one per student), as well as all the accessories.

They are still looking for volunteers to help with the drive and event. If you are available, call Kenny Burrows, RCC's Teen Program Director, 703-476-4500.

Donations to the Diva Central event are tax deductible.

December 2011 Market Report for Reston, VA 20194

Here is a report on the market activity for Reston, VA, 20194 zip code, for December 2011.

20194 December 2011 v. December 2010 Sales

December is a notoriously slow month for real estate in the Northern Virginia area. This December did not behave any differently. In fact, this December was even slower than December of 2010 in the 20194 zip code--and in all of Reston (click here for the 20191 Market Report and for the 20190 Market Report).

While consumer confidence is slowly regaining its foothold, buyers are still reluctant to move forward. Retail sales saw growth in November and December which could mean that consumers were spending their time and money on retail, rather than real estate, purchases.

3 Bedroom Townhouses continued to be the most popular homes sold in 20194 with the Average sold price up from the December 2010 average of $479,000 to the December 2011 average of $510,557, a 6.59% increase.

Detached, 4 Bedrooms+ homes saw the greatest price decline with the average sales price in December 2010 being $846,000 and the December 2011 average price at $706,875. This was a decrease in average price of -16.45%. It was a relatively few number of homes, 4 in 2011 and 5 in 2010, that impacted this average price.

The inventory in the 20194 zip code continues to be tight. Assuming more buyers get into the market this spring, it could create more favorable condtions for sellers than we have seen in a while.

If you are interested in finding out more about properties available in the 20194 zip code, text, call or email me at 571-643-4902, hollyweatherwax@mris.com.



December 2011 Market Report for Reston, VA 20190

Here is the December 2011 market activity report for Reston, VA, 20190 zip code (North of the Toll Road, south of Baron Cameron Avenue, includes Lake Anne and the Reston Town Center).
Market Report Reston, VA 20190 December 2011

December is a notoriously slow month for real estate in the Northern Virginia area. This December did not behave any differently. In fact, this December was even slower than December of 2010 in the 20190 zip code--and in all of Reston (click here for the 20194 Market Report and for the 20191 Market Report).
While consumer confidence is slowly regaining its foothold, buyers are still reluctant to move forward. Retail sales saw growth in November and December which could mean that consumers were spending their time and money on retail, rather than real estate, purchases.

Condominium sales made up the bulk of home purchases in the 20190 zip code for December of 2011, with 12 units sold. This was down from December of 2010, when 23 units sold. The average sold price, however was up 12.75%, from $335,726 to $378,544.

The 20190 zip code had only 2 detached homes sell in December. While this number looks very low, only 3 detached homes sold in December of 2010. This zip code has a large number of condominiums and townhouses relative to the number of detached homes. The average price, insignificant when only factoring two homes, does not help at all given that the 2 homes sold were atypical detached homes: a 2 bedroom ($160,000) and a 3 bedroom ($210,000).

In the Lake Anne/Reston Town Center area, 7 townhouses sold last month, compared to 10 in December 2010. The prices trends are not clear, given that they were significantly up in some categories and significantly down in others.

In December 2011, the 20190 zip code had 7 townhouses sold,2 detached homes and 12 condominiums. These numbers were significantly lower than in December 2010 when there were 10 townhouses, 3 detached homes and 23 condos sold, indicating that demand was down in December 2011.

If you are interested in finding out more about properties in the 20190 zip code, text me, call me or email me at 571-643-4902 or hollyweatherwax@mris.com.