Alexandria, VA

Weekend Street Parking at the Palazzo

After 18 months of research, compiling data, communicating with the association in numerous meetings, and a public hearing last week; we have 24 hour parking on Northampton Drive on weekends!

The City of Alexandria approved the change from parking from 7PM to 7AM seven days a week to parking 7PM to 7AM Monday through Friday (excluding holidays).

The new times apply to both sides of Northampton Drive between Ford Ave. & Kirkpatrick Lane and it anticipated that it should generate space for 24-28 vehicles. Restrictions already exist against the parking of commercial vehicles overnight in Alexandria City, so this is for the sole benefit of passenger vehicles.

As part of the City’s approval, a study will be completed within the next 6 months to determine if it is feasible to address the second portion of the Palazzo’s request, which was to allow later parking until 9AM in the morning and start evening parking at 5PM. Additionally, the City will determine if implementation of the Complete Streets concept should be implemented. Complete Streets basically involves making roads & sidewalks more accessible to forms of transportation other than cars; adding bike lanes, enlarging sidewalks, etc.

The Palazzo at Park Center was constructed in 2000 and converted into a condominium in 2005, with 392 units is four buildings. It offers amenities that are not available in most of older condominium communities in the Shirlington real estate area: underground parking, elevators, and 2 Bedroom/2 Full Bath floorplans on one level. Additionally, there is an outdoor pool, nicely equipped gym located in the clubhouse, along with a party room that is available for use by residents.

If you are considering selling or leasing your unit in the Palazzo at Park Center, please contact for a confidential meeting to explore your options. As an owner in the community, I have a vested interest to see that you get the best possible terms for your unit.

Alexandria VA 22309 MARKET REPORT February 2012

Curious about what is selling in 22309 area of Alexandria VA, commonly referred to as the Mount Vernon area?

Let's take a look at ALEXANDRIA VA 22309 SALES.

In February 2012, a total of 24 properties - of all types - settled (compared to 29 in January), for an average sold price of $296,474.

Of the 24 properties sold in February, 9 were single family detached homes. This was down from the average in January of 14 homes.

The average sold price was $546,111 (up from the average sold price in January of $476,921) and average days on market was 72 days, which was down from the average days on market in January of 108.

The least expensive home sold? $280,000, in Fairfield. The most expensive? $1,260,000, in Yacht Haven Estates.

What neighborhoods might you find in the Alexandria zip code of 22309? Well, since this area is near George Washington's home of Mount Vernon, as you may expect, there is no shortage of neighborhoods including the phase "Mount Vernon," such as Mount Vernon Woods, Mount Vernon on the Potomac and Mount Vernon Forest. Other notable neighborhoods in the 22309 zip code include Riverside Estates, Wessynton, Riverwood, Ferry Landing and Yacht Haven Estates.

If you are thinking about selling your Mount Vernon area home and are curious about what it is worth, you can check for recent comparable sales or simply contact me for a more thorough analysis.

Or, if you are interested in seeing what homes are available for sale in Alexandria, check out the quick search below or simply get in touch with me. I'll be happy to help you find just the rght Alexandria to fit your needs.

Alexandria VA 22304 TOWNHOUSE MARKET REPORT February 2012

Curious about what is selling in the Alexandria VA townhouse market?

Let's take a look at ALEXANDRIA VA 22304 TOWNHOUSE SALES.

In February 2012, 13 townhouses settled (compared to 12 in January), for an average sold price of $539,288. In January, the average sold price was $502,042. The lowest price sold in February was $257,500, while the highest price sold was $760,000. Average days on market was 63; this is down dramatically from January's average of 117 days.

What can you expect in anAlexandria VA TOWNHOUSE in 22304? Well, in addition to close proximity to public transportation, many Alexandria townhome communities have amenities such as an outdoor pool, tennis courts and an exercise room or fitness center. One of the larger communities, CAMERON STATION, even has a shuttle to the Van Dorn Metro, as well as a retail center.

Of the 13 townhouses sold in 22304 in February, 5 were located in Cameron Station.

For $357,500 one buyer was able to buy a 1,296 square foot 2 bedroom 2 bath townhome HAFA short sale in a conveniently located community just off of Duke Street near public transportation, retail shops and grocery stores.

At the highest end of the spectrum was a 3 level Stoneyhurst model in Cameron Station. Listed for $765,000 when it sold (but originally listed for $820,000), this 2,961 square foot property sold for $760,000 after 101 days on market.

If you are looking for an ALEXANDRIA VA TOWNHOUSE, check out the quick search below or simply get in touch with me. I'll be happy to help you find just the right Alexandria VA townhouse to fit your needs.

Kingstowne (22315, 22310) had a solid month in real estate for February 2012. While the transaction totals stayed relatively the same to February 2011 the median sales price increased substantially.

Single Family Homes:

In February 2011, 18 homes sold at a median sales price of $409,450 in comparison to February 2012 when17 homes sold at a median sales price of $589,000.

Townhomes/Condos:

In February 2011, 30 TH/condos sold at a median sales price of $308,000 in comparison to February 2012 when 22 TH/condos sold at a median sales price of $362,450.

There are currently 139 properties under contract, and only 39 of them are short sales. Low interest rates still make it a good time to buy but, there are many potential buyers still cautiously sitting on the fence. Buyers that are willing to move forward are setting themselves up with favorable terms for the long run. Prices aren’t getting any better and holding off for an extended period could drastically affect buyers “bang for their buck.”

Example of Homes For Sale in Kingstowne:

$624,900

6331 Alderman Drive Alexandria, Va 22315

4 bedrooms, 3 fulls baths, 1 half bath

MLS#: FX7779355

Listing Agency Llewellyn, Realtors

$599,000

5708 Governors Pond Circle Alexandria, Va 22310

3 bedrooms, 3 full baths, 1 half bath

MLS#:FX7776597

Listing Agency Long and Foster

To set up a tour for these homes or other Kingstowne properties contact me and I'd be happy to help. We offer all of our buyers a $500 rebate at closing to say thank you for your business.

FHA(Federal Housing Administration) and HUD (Housing and Urban Development) are at it again. It appears that beginning in April, the Upfront and Annual [monthly] Mortgage Insurance Premiums assessed to borrowers who secure FHA financing will increase again.

Put into dollar terms when fully implemented, if we assume a traditional 3.5% down payment, there will be an approximate $34/month increase in payment for every $100k financed. If you’re on the fence about buying and considering FHA financing I would suggest you proceed sooner than later. If you presume an average loan amount of $250k, that's $85 per month; a substantial increase in your monthly housing payment that could be avoided by purchasing a home before the new guidelines take effect. There is also talk of limiting the maximum amount of seller concessions to $6k.

I will post a follow up as soon as more information is available.