About Arlington County, VA

Some months are good....some a little less. October 2009's numbers for 22205 were lower than 2008. These statistics come from the multiple listing system so they will not reflect any transactions that were not done through the MLS.

Total Sold Volume:

2008- $10,122,550

2009- $5,786,800

Change of (42.83%)

Average Sold price:

2008-$674,837

2009-$642,978

Change of (4.72%)

Median Sold price:

2008 $615,000

2009- $650,000

Total Units Sold

2008- 15

2009- 9

Average Days on Market

2008-42

2009-56

List price for solds:

2008- $722,823

2009- $680,078

One interesting note is that none of the properties sold had FHA buyers. One was cash, one was assumption, and seven were conventional. The price of homes in our zip code may be a bit of a stretch for alot of first time buyers many of whom are using FHA loans (very low down payments and forgiving of non-stellar credit) to purchase properties.

Of the thousands of condominiums located throughout Arlington Virginia, the Turnberry Towers stand apart as an ultra-luxurious, 25-story high rise condominium in the heart of downtown Rosslyn. The Turnberry Towers feature cutting edge security and privacy, direct entry elevators, a multi-level garage, and even private garages for cars and motorcycles both. The amenities at Turnberry Towers also set a new standard for condo dwellers in luxury, class and style. These in vogue facilities include a cafe, a surround sound entertainment media room, multiple social rooms, private spa and fitness centers with an indoor swimming pool and a 24-hour valet, as well as a 24-houe concierge. Finally, Turnberry Towers boasts outdoor balconies, gourmet kitchens, 10 foot ceilings, custom made hard floors, fireplaces, generous closet space, and secondary entrances on some units.

All of the units represent the trend setting standards of this well-established neighborhood in Rosslyn. The Towers are located 1820 North Fort Myer Drive in Arlington, Virginia and are a 2 minutes of the Orange Line Metro Station in Rosslyn. Between the location and the high-end convenience and facilities of this condo high-rise, Turnberry Towers sets the bar as the epitome of opulence. Check here for information about condos for sale at Turnberry Towers.

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Located at 3625 North 10th in Arlington Virginia, the Monroe was completed in 2007 and is located in the heart of Arlington's Ballston community; inset among several high-rise condos located a 1/2 block from the at Virginia Square Metro Station on the Orange Line near the Ballston Common Mall. The Ballston community in Arlington is an urban landscape that is home to a gamut of modern apartment and condominium complexes, the Ballston Common Mall, the Ballston business district, and a hip (if not commercial) variety of restaurants and bars to boot.

Fitting in with the cityscape, the Monroe is a high-rise condominium building that has 79 units, some as large as 1,800 sq feet, and includes amenities such as a gym, a library and community room, rooftop deck, a courtyard, concierge and a full-time front office staff. The units have hardwood floors, granite kitchen countertops, balconies, stainless steel appliances, and the option for additional storage rooms. With respect to convenience and locale, this contemporary and attractive condo is across the street from some handy must-haves including a Starbucks, 7-Eleven, Bank of America, Bruegger's Bagel and Marvelous Market.

The Ballston community also hosts several nearby parks and open outdoor spaces. These features as well as its proximity to the Metro have led to many young condo owners and professionals to call Ballston home and the Monroe at Virginia Square is a prime example of how Ballston has become a model of residential, transit-oriented development and smart growth today.

Click here for map.

Contract time! Whenever I have someone considering buying a place, I always offer to meet them for coffee to go over the process from start to finish, and the details necessary to the process of buying and/or selling real estate.

A very important part of the buying process right now is the appraisal. An appraisal is an independent 3rd party opinion of the market value of a property (regardless of the type of property – condo, townhouse, detached single family home, etc.) If you’re getting a loan, you’re getting an appraisal. Your lender will “hire” a licensed appraiser to do an analysis of value based on recent sales, active listings, type of property, condition, location, etc. This is your reassurance that the price you’re paying for a place is in line with current market values.

Now, if the appraisal comes in equal to or above your contract sales price – you’re good to go! (Remember, if you’re getting cash back from the seller for closing costs, the appraised value must be on the GROSS price of the contract.) If it comes in above the price you’ve agreed to pay – congrats! instant equity!

However, IF the appraisal comes back low, you really have 2/3 options:

1. Approach the seller, provide them a copy of the appraisal, and try to negotiate the contract price to match the value of the appraisal.

1a. If the seller is unwilling to come down in price, and you’re not able to fund the difference, you can void the contract.

2. If you still want to buy the place, even with the low appraisal, you have the option of coming up with the extra cash to fund the difference. Banks will only loan as high as the appraised value.

2a. If you’re unable to gather the funds to make up the difference and the seller is unwilling to come down in price, you can void the contract.

3. If both parties come to some acceptable terms that is a combination of the above – either the seller comes down a little and the buyer comes up with the difference – then you can also proceed.

3a. If this is not a feasible option, you can then void the contract.
Feel free to take me up on my coffee offer, anytime. We go over the process in detail, and I promise, it won’t be scary or overwhelming.

Awesome Arlington

I know, I know I’m a bit prejudice. I have lived in Arlington, Virginia most of my life. When my son Travis was born, I knew that Arlington was the place to raise him and his sister to follow. Travis (now IRT pro ranked 10th) will tell you that it was the best preparation for life in general, mostly because we have such a diverse population, great schools, and most of all opportunities here that other locations don’t have. I just saw this you tube video done by stayarlington. Take the time to see it if you are new to the area or want to see a nice piece on Arlington in general.

Arlington Fun Facts part 1

in no particular order, just for fun

Arlington County was originally part of the ten-mile square parcel of land surveyed in 1791 to be part of Washington, DC. The U.S. Congress returned that portion of the land to the "Commonwealth of Virginia."

Arlington is the smallest self-governing county in the United States. According to the U.S. Census Bureau, the county has a total area of 26 square miles, of which about 4.6 miles are federal property. Two counties are smaller (but don't govern themselves): Kalawao, Hawaii (13.2 square miles) and Bristol, Rhode Island (24.7 square miles).

The NHL’s Washington Capital’s practice at Arlington’s own Ballston Common Mall at the Kettler Capitals Iceplex. Drive up to the top level of the public parking garage to enter. The facility is open for community use year-round. It is the first indoor ice rink inside the Capitol Beltway in Virginia.

The Wright Brothers were here. In 1908 they circled the parade ground of Fort Myer 57 times.

Arlington is the birthplace of the internet (no coincidence that Al Gore’s family once owned a home in Arlington) Defense Department Advanced Research Projects Agency (DARPA) built the Interface Message Processor (IMP) to carry data to and from different specialized computers mostly in the U.S. university community. DARPA created ARPANET, which was the fore runner to the internet as we know it today.

A person standing on Memorial Bridge in Arlington is exactly as far from the Cumberland Gap, Virginia's western extreme point, as they are from downtown Boston, Massachusetts 394 miles (636 km).

The Pentagon building in Arlington, Virginia is the largest office building in the world. The Pentagon has 6 zip codes. To walk around the outside takes an average 15-20 minutes. It is designed to get from any one office to another in 7 minutes.

National Cemetery, which was built on land seized by the Union during the Civil War. The land was originally owned by the family of the famous Confederate General Robert E. Lee.

Arlington has 11 metro stations! The systems has a very helpful website.

This is the Clarendon Metro station, bordering on Lyon Village.

lwoodbury@cbmove.com. Look for part 2 in the near future.

www.LauraWoodbury.com

www.cbmove.com/laura.woodbury