Keller Williams Mclean Keller Williams Great Falls

Is it still a hot market in Northern Virginia? One might argue that based on this deal it is.

We listed this quaint little 'cottage type' property (3 bedrooms, 3 bath, maybe 1900 sq ft) situated in one of Arlington's "finest" neighborhoods and during the first showing we had an offer in hand, a verbal offer and 3 phone calls. One of our offers was cash, no inspections or contingencies that also offered an escalation to over $50,000 beyond asking price of $764,900.00. We ratified an offer within hours of putting the sign up! There wasnt even a picture on the listing in MLS so all I can offer is this description which I wrote for the listing. "Great opportunity situated in the heart of sought after Country Club Hills. 3BR and 3BA with family room and Master BR on the main living area- catherdral ceilings over formal LR. Fully finished basement with the feel and charm of an old historic cabin. Huge fireplace can warm the coldest winter nights. 2nd floor BR and study- Motivated seller so make an offer TODAY!

Is it a good time to buy in Arlington, Virginia? I would suppose based on this story IT IS!

Last week, Congress overwhelmingly approved an extension and expansion of the home buyer tax credit, as urged by hundreds of thousands of Realtors® across the country. The President has signed the legislation.

Key points of the legislation include:

• Extension of the $8,000 tax credit for first-time home buyers under contract by April 30, 2010 and settling by July 1, 2010;
• Addition of a $6,500 tax credit for existing homeowners, if living in their principal residence for five consecutive years in the past eight years;
• Increasing income limits for eligible home buyers to $125,000 for single buyers and $225,000 for couples; and,
• Capping the purchase price of the home at $800,000.

source www.nvar.com

That's right folks the Silver Line is in the works...finally...and while the phase 1 plan has the extension reaching out to Wiehle Avenue its actually been tweaked to include the Reston Town Center. Phase 2 will take you through Herndon and will include the Dulles Airport (IAD).

Construction has started and the phase 1 completion date is set for 2013 and will carry passengers from West Falls Church's Orange line through Tyson Corner shopping mall and down through the center of the Dulles Toll Rd. See map from Dullesmetro.com below:

Planned facilities for this station include:

• Two station entrances (both sides of Dulles Toll Road)
• Pedestrian bridge crossing toll road and airport access highway
• Bus dropoff/pickup (both entrances)
• Kiss & Ride (both entrances)

November 30, 2009 is the last day to close on your new home in order to qualify for the tax break offered by our Federal government. If you want to take advantage and you're a first time home buyer call TODAY.

Most lenders are requiring a 30 day lead time to get to the closing table which means by Halloween you better have your deal ratified.

There is a ton of inventory to sift through so take advantage of this incredible buyers market and the tax credit and give us a call today! We're looking forward to hearing from you! 703-283-4524

Georgetown University's Financial Education Conference is April 16, 2009 As Realtors for the Northern Virginia market we feel it is important to help our first time buyers navigate through these difficult financial times, especially when considering buying and/or investing in real estate. Please join members of the Keller Williams Mclean Virgina office as we offer an educating session that will povide a recap of the market and current trends, the first time buyer tax credit, lending and mortgage issues, common pitfalls and how to get started.

For more information please visit:

https://gushare.georgetown.edu/UniversityBenefits/FEC/GU%20Spring%20Newsletter%203-17-09%20FINAL%20WEB%202.pdf

or call Scott Montgomery 703-283-4524.