Home prices that approach what they were before the bust are at least five years away, says Peter Morici, a University of Maryland professor of economics.
“I think we’ll see housing values rise 20 or 25 percent and then more gradual appreciation,” Morici says.
The problem, he believes, is the oversupply of housing. “Supply is a couple of years ahead of demand,” he says.
Other housing observers were less optimistic. “Foreclosures are still going to bite the market. Given the preponderance of negative housing data, we may see another leg down,” says Joseph Brusuelas, president of Brusuelas Analytics.
Source: Bloomberg, Courtney Schlisserman (03/30/2010)
Home Prices In Arlington Continue To Hike
The housing market in Arlington County is getting more and more expensive as potential buyers continue to have fewer homes and condos to choose from.
Inlet Cove is alongside Route 1 This neighborhood of townhouses is near grocers and eateries Inlet Cove is close to Fort Belvoir, Alexandria, and Potomac Mills shops, in the city of Woodbridge Interior to these properties are multilevel Inlet Cove is serene
Pending home sales increased again in March, affirming that a surge of home sales is unfolding for the spring home buying season, according to the National Association of REALTORS®. The Pending Home Sales Index, a forward-looking indicator based on contracts signed in March, rose 5.3 percent to 102.9 from 97.7 in February, and is 21.1…
Some of the best housing deals are on high-end homes, many over $1 million. Some of them need TLC or they aren’t in the most-coveted locations. But there are plenty of desirable properties and lots of sellers who are getting impatient. Buyers with cash have the best opportunities. Buyers who need a mortgage should move…
The National Association of Realtors recently did a study about the characteristics of home buyers. Some of the findings might surprise you. Thirteen percent of buyers purchased a home with one or more parents and grandparents together with adult children. There were several reasons given for purchasing a multi-generational home. Cost savings; Children over the…
The expert says: “I understand. But no matter what price we set for your property, there is always a chance it may not sell. I would like to set an appointment to review the activity and reconsider the price in two weeks. We will be monitoring the calls from signs, ads, and open houses to determine our best strategy for locating a buyer. Then we will analyze this information and adjust our marketing campaign as needed until it is sold.”
— Rich Levin, Real Estate Trainer and Coach
It’s true: we’re still in a buyer’s market. I don’t see prices continuing to decline, but there are only two options if you want to sell your home: wait patiently for a buyer to see the value of your home, or lower the price to entice a buyer to act now. In the past, homes were selling for more than what they are worth. Today, they are probably selling for less than what they are worth. If you have the time to be patient, hold out to get your price. If you want to act now, don’t worry too much because if you sell at a low price, you’ll be buying at a low price.
Will Nesbitt is the Principal Broker of Condo Alexandria.
Fairfax County officials are encouraging residents to help remove dirt and sod left on the roads by snowplows. Residents and business owners also are asked to replace any missing grass on their properties.
The county already is taking action on this issue with help from the Sheriff’s Office Community Labor Force (CLF). During the next few weeks, these crews will clean up dirt and sod from the roads as they perform landscaping at bus stops and parking lots across the county.
“Because this problem is so widespread, VDOT won’t be able to clean up every one of the 17,000 miles of roads that they’re responsible for in Northern Virginia,” said Board of Supervisors Chairman Sharon Bulova. “This is why we’re asking for help from the community and the county is stepping in to assist too.”
In many cases, the sod can be transplanted back on the sides of the roads.
The Sheriff’s Community Labor Force provides an innovative approach to incarceration and work release. The CLF partners with other county agencies to provide light landscaping services on county-owned property, saving taxpayer dollars. Labor crews, consisting of well-screened offenders, provide necessary services to the county that include graffiti removal, blight abatement, countywide litter pickup, bus stop maintenance, and overall beautification.
The CLF program participants can engage in meaningful work and develop employable skills. They also may earn “Exemplary Good Time” for their efforts, thereby reducing incarceration periods and the cost of incarceration to taxpayers.
Biking is a fun way to see the sites of Northern VA
Go green and explore the city by bicycle! Bike and Roll Alexandria offers bike rentals including Trek comfort hybrid bikes as well as tandem bikes. Children’s bikes and accessories such as tandem trailers and burleys are also available.
Bike rentals allow you to hop on two wheels and see DC and Northern Virginia in a completely new way. All rentals come with a helmet, U-lock, bike rack, flat kit and city map. Just let us know where you are heading and we’ll point you in the right direction! You may even rent from one shop and ride one-way to our other location (in Washington DC) for a small drop-off fee.
For day long reservations for any equipment in Old Town Alexandria, VA, call: 703.548. ROLL (7655).
Bike and Roll Alexandria
One Wales Alley
Alexandria, VA 22314
Bike and Roll Alexandria is located at the corner of Wales Alley and The Strand in Old Town Alexandria. This
shop is convenient to the King Street Trolley Stop at North Union Street and a couple hundred yards south from the Water Taxi.
A new study contends that only 39 percent of U.S. communities are affordable for typical households when the cost of transportation is included in the calculation of housing costs.
The Center for Neighborhood Technology analyzed the Housing + Transportation Affordability Index, which examined 161,000 neighborhoods housing 80 percent of the U.S. population, and concluded that for most families, transportation is the second-largest household expense.
It is also a fairly unmanageable one, the study concluded, because it is difficult for families to estimate the full cost of a location before they move there. Gas prices and employment demands aren’t very predictable for many.
Factors that can help people control transportation costs include walkable neighborhood streets, access to public transit, and nearby retail.
Source: Center for Neighborhood Technology (03/23/2010)
Julie Nesbitt is one of the hard-working real estate professionals at Condo Alexandria. As many people know, she’s a force behind much of what gets done here. We snapped a few publicity photos of her this Spring. Which one do you like best?
Plaques are found on many buildings and homes in Old Town Alexandria. “Plaqued” homes are not uncommon in Old Town Alexandria and a historical plaque is generally considered to enhance the value of the property. The plaque for the Marshall House is found on King Street on the Hotel Monaco. It reads:
The Marshall House stood upon this site and within the building on early morning of May 24, 1861 James W. Jackson was killed by Federal soldiers while defending his property and personal rights, as stated in the verdict of the coroners jury.
He was the first martyr to the cause of Southern Independence. The Justice of History does not permit his name to be forgotten.
Not in the excitement of battle, but coolly and for a great principle, he laid down his life, as an example to all, in defence of his home and the sacred soil of his native state, Virginia.
Erected by the Sons and Daughters of Confederate Soldiers
Arena Stage in Crystal City on South Bell Street was founded in 1950 as one of the nation’s original resident regional theaters. Arena Stage has a focus on American playwrights, featuring the classics of American theater, but productions also include new American plays. Arena Stage has a distinguished record of leadership and innovation in the field, including several important firsts:
the first regional theater to transfer a production to Broadway;
the first regional theater invited by the U.S. State Department to tour behind the Iron Curtain; and ,
the first regional theater to receive a Tony Award.
Arena stage has produced everything from vast epics and charged dramas to rousing musicals and probing profiles. With the opening of the new Mead Center for American Theater in 2010, Arena Stage is recognized as a leading center for the production, development and study of the American theater. Now in its sixth decade, Arena Stage serves a diverse annual audience of more than 200,000.
THE QUALITY OF LIFE (C)
Directed by Lisa Peterson
THE FANTASTICKS (L)
Book and lyrics by Tom Jones
Music by Harvey Schmidt
Directed by Amanda Dehnert
STICK FLY (C)
by Lydia R. Diamond
Directed by Kenny Leon
THE LIGHT IN THE PIAZZA (C)
Book by Craig Lucas
Music and lyrics by Adam Guettel
Based on the novel by Elizabeth Spencer
Directed by Molly Smith
DUKE ELLINGTON’S SOPHISTICATED LADIES (L)
Concept by Donald McKayle
Based on the music of Duke Ellington
Dance and musical arrangements by Lloyd Mayers
Vocal arrangements by Malcolm Dodds and Lloyd Mayers
Original music direction by Mercer Ellington
Directed by Charles Randolph-Wright
Choreographed by Maurice Hines
R. BUCKMINSTER FULLER: THE HISTORY (AND MYSTERY) OF THE UNIVERSE (C) Written and directed by D.W. Jacobs
(A) Performed in the Arena
(renamed The Fichandler Stage in 1992 (F) )
(K) Performed in the Kreeger Theater
(O) Performed in the Old Vat Room
(S) Performed in The Scene Shop
(14&T) Performed at 14th and T downtown theater space
More Information About Arena Stage
Address: 1800 S Bell St, Arlington, VA 22202
Phone: (202) 488-3300
Website: Arena Stage