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Lorton, VA

Fairfax and Prince William County Price Change Comparison For October 2008

Art Kruschka - Fairfax Prince William Stafford County VA Real Estate Service: Real Estate Agent in Springfield, VA

The chart below demonstrates clearly that October 2008 versus October 2007 price reduction percentages were greater in Prince William County than they were in Fairfax County.

Are there speculations as to why this occurred? Yes, and that is exactly what they are - speculations. However, we believe there is one indisputable reason.

  • Home prices are normally lower in Prince William County than in Fairfax County
  • So a huge number of sub-prime loans were made in Prince William County
  • Home foreclosures, therefore, are higher in Prince William County
  • Lenders have a greater number of homes to sell in Prince William County causing asking prices to be lower than areas with fewer foreclosures such as Fairfax County

As a result, many people in Prince William County who do not have to sell their home are not putting them on the market - the market of homes for sale is weighted towards foreclosed homes.

There are price reductions in both counties, but the opportunity to make a "good deal" may be greater in Prince William County at this point in time. That opportunity is viable only if living in Prince William County is practical for you. Are there attractive oppoortunities to purchase a home in Fairfax County? Yes and we have considerable experience finding them as well as we do in Prince William County

Additionally, the availability of VA and FHA financing makes Prince William an even greater opportunity for the military or civilian purchaser.

If you are planning a home purchase in either county and are concerned about the current market contact Karen and Art by Email or call us at 703-562-1532. Put our record of customer service, real estate experience and state-of-the-art technology to work for you in Alexandria, Arlington County, Fairfax County, Prince William County, Stafford County or the entire Northern Virginia Area.

FAIRFAX COUNTY AND PRINCE WILLIAM COUNTY

OCTOBER 2007 and OCTOBER 2008 PRICE CHANGE COMPARISON

PROPERTY TYPE

PRINCE WILLIAM

FAIRFAX

CONDOMIMIUM

Minus 37%

Minus 24%

DETACHED HOME

Minus 34%

Minus 23%

TOWN HOME

Minus 45%

Minus 23%

By Karen Kruschka

Hallowing Point, Lorton, Virginia Market Report

Karen Kruschka - Fairfax Prince William  Stafford County VA Real Estate Service: Real Estate Agent in Springfield, VA

Hallowing Point is the epitome of living on the Potomac River in Northern Virginia. The custom homes are on large lots with fantastic vistas of the Potomac River and Maryland. The community has its' own park and boat launching facility right on the river.

The interesting point is that you pass through several very prominent historical sites, parks and open pasture land to get there.

  • Pohick Church - It was located in a frame building at Old Colchester Road and Gunston Road. No less than 3 prominent 18th century "personages", George Washington, George Fairfax and George Mason IV disagreed on relocating the church to its' present location at US1 and Old Colchester Road - GW won the day.
  • Cranford United Methodist Church It was moved to the old Pohick Church site, has been rebuilt and remodeled to its' present condition.
  • Pohick Bay Public Golf Course is an extremely popular course operated by the Northern Virginia Regional Park Authority
  • Pohick Bay Regional Park has boat launch facilities, small boat rental, camping, cabins, shelter rentals and a public pool
  • Gunston Hall This is the home of 18th Century patriot, George Mason, and is open to the public

It is about a 15 minute drive to both the Lorton VRE rail station and the Lorton intercgange to I-95, facilitating the trip to the Pentagon and Washington, DC

HALLOWING POINT MARKET REPORT

HOMES FOR SALE

Currently there are 6 homes for sale at an average list price of $1,028,806

HOMES SOLD AND SETTLED

YEAR-TO-DATE 2008 AS OF 11/18/2008 VERSUS TOTAL 2007

2007

2008

+/- %

Number of Homes

3

2

NA

Average List Price

1,676,000

900,000

- 46%

Average Sales Price

1,646,667

838,248

- 49%

Seller Contribution

- 5,833

0

NA

Net Sales Price

1,640,834

838,248

- 49%

Prepared By Karen Kruschka

If you are planning to purchase a home in Northern Virginia please use our

NO REGISTRATION HOME FINDER

and then contact Karen and Art by Email or call us at 703-562-1532. Put our record of customer service, real estate experience and state-of-the-art technology to work for you in Alexandria, Arlington County, Fairfax County, Prince William County, Stafford County or the entire Northern Virginia Area.

Lorton Station Town Home Market Report

Art Kruschka - Fairfax Prince William Stafford County VA Real Estate Service: Real Estate Agent in Springfield, VA

Lorton Station is a 300 acre subdivision of 950 newer homes just South of Fort Belvoir. Detached homes and town homes are available and, yes,

  • It is within 15 minutes of the entrance to Fort Belvoir.
  • Additionally, it is only 15 miles south of Washington, D.C.
  • The Lorton entrance to and exit from I-95 is just outside the community on Lorton Road.
  • On those occasions when you need to go to the Pentagon the VRE Lorton Station is in the community. Take a Northbound train, change to the Metro Blue Line at King Street and go to the Pentagon Station.
  • Commuters to DC will also want to use the VRE at Lorton

Kids attend Lorton Station Elementary and, depending on where you live, they will attend either South County Secondary or Hayfield Secondary.

Three shopping centers, Lorton Station Marketplace,Lorton Station Town Center and Gunston Plaza provide a full range of retail services and numerous excellent restaurants.

  • Swimming? There are 2 community pools.
  • The 100 acre Joseph Plaskett Park with both hiking and biking trails runs through Lorton Station.
  • Lorton is also home to the Pohick Bay Regional Park with both boat launches, boat storage, camping, cabins and picnic grounds.
  • Pohick Bay Public Course is within 15 minutes if you are not eligible to play Fort Belvoir
  • Mason Neck State Park and Mason Neck National Wildlife Park are part of a 6,000 acre wetlands management area and is a major bird and wildlife sanctuary - hiking and biking areas are easily accessed.

LORTON STATION

TOWN HOME MARKET REPORT

HOMES FOR SALE

Currentlythere are 4 homes for sale at an average list price of $390,950

HOMES SOLD AND SETTLED

YEAR-TO-DATE 2008 AS OF 11/18/2008 VERSUS TOTAL 2007

2007

2008

+/- %

Number of Homes

11

16

NA

Average List Price

488,464

405,756

- 17%

Average Sales Price

474,136

400,183

- 16%

Seller Contribution

- 6,614

- 6,801

+3%

Net Sales Price

467,522

393,382

- 16%

Prepared By Karen Kruschka

Also see WAYNEWOOD, a large subdivision, 15 minutes to the north of Fort Belvoir with excellent amenities. Or go 15 minutes west to SARATOGA,

North South or West, there are excellent subdivisions within 15 minutes of Fort Belvoir.If you are planning a Northern Virginia please use our

NO REGISTRATION HOME FINDER

and then contact Karen and Art by Email or call us at 703-562-1532. Put our record of customer service, real estate experience and state-of-the-art technology to work for you in Alexandria, Arlington County, Fairfax County, Prince William County, Stafford County or the entire Northern Virginia Area.

Lorton Station Detached Home Market Report

Art Kruschka - Fairfax Prince William Stafford County VA Real Estate Service: Real Estate Agent in Springfield, VA

Lorton Station is a 300 acre subdivision of 950 newer homes just South of Fort Belvoir. Detached homes and town homes are available and, yes,

  • It is within 15 minutes of the entrance to Fort Belvoir.
  • Additionally, it is only 15 miles south of Washington, D.C.
  • The Lorton entrance to and exit from I-95 is just outside the community on Lorton Road.
  • On those occasions when you need to go to the Pentagon the VRE Lorton Station is in the community. Take a Northbound train, change to the Metro Blue Line at King Street and go to the Pentagon Station.
  • Commuters to DC will also want to use the VRE at Lorton

Kids attend Lorton Station Elementary and, depending on where you live, they will attend either South County Secondary or Hayfield Secondary.

Three shopping centers, Lorton Station Marketplace,Lorton Station Town Center and Gunston Plaza provide a full range of retail services and numerous excellent restaurants.

  • Swimming? There are 2 community pools.
  • The 100 acre Joseph Plaskett Park with both hiking and biking trails runs through Lorton Station.
  • Lorton is also home to the Pohick Bay Regional Park with both boat launches, boat storage, camping, cabins and picnic grounds.
  • Pohick Bay Public Course is within 15 minutes if you are not eligible to play Fort Belvoir
  • Mason Neck State Park and Mason Neck National Wildlife Park are part of a 6,000 acre wetlands management area and is a major bird and wildlife sanctuary - hiking and biking areas are easily accessed.

Also see WAYNEWOOD, a large subdivision, 15 minutes to the north of Fort Belvoir with excellent amenities. Or go 15 minutes west to SARATOGA,

North South or West, there are excellent subdivisions within 15 minutes of Fort Belvoir.If you are planning a Northern Virginia please use our

NO REGISTRATION HOME FINDER

and then contact Karen and Art by Email or call us at 703-562-1532. Put our record of customer service, real estate experience and state-of-the-art technology to work for you in Alexandria, Arlington County, Fairfax County, Prince William County, Stafford County or the entire Northern Virginia Area.

LORTON STATION

DETACHED HOME MARKET REPORT

HOMES FOR SALE

Address

List Price

Days

7717 Porters Hill Lane

499,999

87

7724 Tea Table Drive

519,900

59

9510 Daniel French Street

499,900

27

HOMES SOLD AND SETTLED

YEAR-TO-DATE 2008 AS OF 11/18/2008 VERSUS TOTAL 2007

2007

2008

+/- %

Number of Homes

12

9

NA

Average List Price

622,258

558,728

- 10%

Average Sales Price

608,033

544,211

-10%

Seller Contribution

- 3,500

- 9,056

+259%

Net Sales Price

604,533

535,155

- 11%

Prepared By Karen Kruschka

Hallowing Point - Every Day Is Like A Sunday Afternoon Drive

Karen Kruschka - Fairfax Prince William  Stafford County VA Real Estate Service: Real Estate Agent in Springfield, VA

Remember the Sunday afternoon drive? That was a standard family activity until the mid 50's. Well, the seven mile drive from US 1 in Lorton east on Gunston Road to and from Hallowing Point would qualify as a Sunday afternoon drive. It is a relaxing, scenic drive

Hallowing Point is the epitome of living on the Potomac River in Northern Virginia. The custom homes are on large lots with fantastic vistas of the Potomac River and Maryland. The community has its' own park and boat launching facility right on the river.

The interesting point is that you pass through several very prominent historical sites, parks and open pasture land to get there.

  • Pohick Church - It was located in a frame building at Old Colchester Road and Gunston Road. No less than 3 prominent 18th century "personages", George Washington, George Fairfax and George Mason IV disagreed on relocating the church to its' present location at US1 and Old Colchester Road - GW won the day.
  • Cranford United Methodist Church It was moved to the old Pohick Church site, has been rebuilt and remodeled to its' present condition.
  • Pohick Bay Public Golf Course is an extremely popular course operated by the Northern Virginia Regional Park Authority
  • Pohick Bay Regional Park has boat launch facilities, small boat rental, camping, cabins, shelter rentals and a public pool
  • Gunston Hall This is the home of 18th Century patriot, George Mason, and is open to the public

It is about a 15 minute drive to both the Lorton VRE rail station and the Lorton intercgange to I-95, facilitating the trip to the Pentagon and Washington, DC

If you are planning to purchase a home in Northern Virginia please use our

NO REGISTRATION HOME FINDER

and then contact Karen and Art by Email or call us at 703-562-1532. Put our record of customer service, real estate experience and state-of-the-art technology to work for you in Alexandria, Arlington County, Fairfax County, Prince William County, Stafford County or the entire Northern Virginia Area.