Reston, VA buyers are finding townhouses under $300,000! I was fortunate enough to represent one Reston, VA buyer this July that found a townhouse for under $300,000 that was nearly in spotless condition. And it was a regular sale! Not a foreclosure or bank owned home.

My Reston, VA buyer negotiated a great deal on his new townhouse. He paid $294,000 for this two bedroom, two and a half bathroom gem. He also got over 2% of the sales price in closing cost assistance from the seller. He has a townhouse in great condition, and a gorgeous deck and patio overlooking trees that he will enjoy Spring through Fall.

Not everything in Reston,VA under $300,000 is a distressed sale! If you need help finding your Reston, VA home under $300,000, give me a call.

Chris Ann Cleland, Long & Foster, Realtor, Licensed in VA

703-402-0037, chrisann@LNF.com

With a unanimous vote yesterday evening the Senate passed another value add stimulus to buying a new home. Combined with lowered interest rates and amazing inventory a new law allows for better tax advantages.

USA today photo

The old law allowed for a $7500 tax credit to first time home buyers the year the bought their first residence. The new law should help stimulate a new surge of buyers. ALL home buyers will now get a tax credit equivalent to $10% (up to $15K) on new or existing residences.

See USA todays article here: http://www.usatoday.com/money/economy/housing/2009-02-04-taxbreak-homebuyers_N.htm for more details.

Lets get out and find you a new home ..Now is the time to buy!

Reston Virginia real estate update for Saturday January, 31  2009. 

As of today Saturday January 31, 2009 there are currently 59 homes for sale in Reston Virginia in our MRIS MLS System.  These are fee simple Reston VA homes for sale and detached single family homes.  Reston Virginia is located west of Washington DC in Fairfax County.  Reston Virginia has great homes, neighborhoods, and some great subdivisions with reasonably priced single family detached fee simple homes for sale. Below is a current list of activity on single family homes for sale in Reston VA.

• 59  'Active' -  Reston VA Homes
• 1 'Cntg/KO' - Reston VA Homes
• 17 'Cntg/NO KO' - Reston VA Homes
• 5 'Contract' - Reston VA Homes

RESTON HOMES FOR SALE - ACTIVE MLS

Below are my featured properties for this week, Nov 18th. This week 11990 Market Street, #805 in Reston, Virginia is Just Listed. This luxury 8th floor condo features 3 BR/2BA and many fabulous amenities. 20904 Winola Terrace in Ashburn, Virginia reduced their price to $359,900. For more information please visit www.bobbysamson.com

Thanks and have a great week!

JUST LISTED

11990 Market Street #805 Condo 3 bedrooms 2 full/0 partial baths 1,646 sqft

$789,900 Reston, VA

RENTED	14848 Ashby Oak Court Single Family House 5 bedrooms 3 full/1 partial baths 5,144 sqft	$620,000 $3,500/Month Haymarket, VA
NEW PRICE	20904 Winola Terrace Townhouse 3 bedrooms 3 full/1 partial baths 1,648 sqft	$359,900 Ashburn, VA
	22087 Water Run Court Single Family House 2 bedrooms 2 full/2 partial baths 2,200 sqft No pets	$1,400/month Ashburn, VA

BOBBY SAMSON Realtor NVAR Top Producer bobbysamson527@hotmail.com 703-862-4714 www.bobbysamson.com Samson Realty 14526 Lee Road Suite 100 Chantilly, VA 20151

Gloom and Doom is all we hear these days, but there are bright spots in the Reston Real Estate Market. Each of the zip codes in Reston has a variety of housing types (condominiums, townhouses and single family homes) which has an impact on the average sales price.

The real bright spot is the North Point area, the section of homes north of Baron Cameron Avenue in the 20194 zip code. In this market, the average days on market was 73 days, but the average sales price was up from the same quarter last year by 10.23% for an average of $559,200.

In the Lake Anne area, 20190 zip code, the prices were down only 3.23% from the same quarter last year and the average days on market was also 73 days. The average price was $414,100. The negative here is that the number of sales were down 40.86% from the same quarter last year. This translates to homes selling at close to the same prices as last year, but at a much slower rate. This zip code also contains the upscale condominiums in the Reston Towncenter area.

In the Hunters Woods area of Reston, distinguished by being South of the Dulles Toll Road and in the 20191 zip code, the prices were more significantly off, down 9.08% from the same quarter last year, but the change in % sold was only down by 13.3% from the last quarter last year. The average price for homes in this zip code was $393,500. This could be a factor of more townhouses and condominiums selling and fewer single family homes going to settlement.

This information is extracted from the Q4 2007 MRIS Economic and Market Watch Report, Local Report for Fairfax County. In Fairfax County, the report shows a forecast for a steady number of sales for 1st quarter of 2008, an increase in prices and fewer listings. This bodes well for sellers who have been waiting to sell and are trying to ‘play the market.' While this is not Reston-specific, it is reflective of the market in Fairfax County.

Remember, however, that your real estate investments should be part of a long term strategy and that you should buy real estate because the timing and pricing work within your personal investment strategy, not because you think the market has ‘hit bottom.'