Low interest rates helped keep housing affordability high in the final quarter of 2012, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index released on Thursday.
Nearly 75 percent of homes sold between October and the end of December were affordable to families earning the median income of $65,000.
"The most recent housing affordability data should be encouraging to many prospective home buyers, because it shows that home ownership remains within reach of median-income consumers even as most local markets appear to be on a recovery path," says NAHB Chairman Rick Judson.
The median price of all new and existing homes sold in the fourth quarter of 2012 was $188,000.
"It is noteworthy that affordability remains historically high thanks to favorable mortgage rates even as national home price indexes show some rise in values," says NAHB Chief Economist David Crowe.
The nation’s most affordable major housing market? For the second-consecutive quarter, it's Ogden-Clearfield, Utah, according to the index. Nearly 94 percent of all home sales there were affordable to families earning the median household income of $71,500. Other affordable major housing markets were Dayton, Ohio; Indianapolis-Carmel, Ind.; Lakeland-Winter Haven, Fla.; and Syracuse, N.Y.
Meanwhile, the most expensive major housing market remains San Francisco-San Mateo-Redwood City, Calif. Twenty-eight percent of homes sold in San Francisco during the fourth quarter were affordable to families earning the area’s median income of $103,000, according to the index.
Source: National Association of Home Builders
[affordability]
Will Nesbitt stands inside of this model home at the Henry in Old Town Alexandria.The Henry is a brand new condominium development in Old Town Alexandria. Most condos are at the Henry are ready for delivery and construction is nearly complete. The builder's representatives that we know and have worked with at the Henry are professional, knowledgeable, honest and hard-working, but it's their job to represent the builder's interest and it's their job to tell you why the Henry is a great place to live. As buyer's representatives, it's our job to learn as much about your needs as possible to make recommendations that make sense for your specific needs. That's one of the reason I like to take a look at the worst parts of a community first. Every home for sale on the market has advantages, but it's not the advantages of a property that make the sale. Buyers buy homes when they can make peace with the worst parts of living at a particular address.
More about why I'm writing this article?
It may interest the reader to know that I was contacted yesterday by a buyer who is currently living overseas in Switzerland. This potential client is familiar with Northern Virginia but doesn't know exactly where or what to buy just yet. Everyday we help people like this find homes in Alexandria and Northern Virginia. For their benefit I'm going to put together a few opinions and facts about the types of homes that most interest them.
This particular buyer is looking for brand-new construction in Old Town Alexandria. At a start hat criteria makes a very short list. This is because brand-new construction is not common in an area that is one of the oldest and most historic settlements in Northern Virginia. The list of developments that are under construction or just completed includes the Henry, Old Town Commons, the Oronoco, and 900 N. Washington. I am also recommending that this buyer take a look at the Eclipse (nearby in Crystal City), Potomac Yard (just north of Old Town) and the Carlyle District (which if not new, is nearly new).
As time permits I'm going to make public some of the thoughts I'm going to share with this client, in the hopes that it will not only benefit this client but others who might be looking for similar opportunities.
One can find glowing details about the amenities and features of the Henry, as well as information about models that are on sale now elsewhere on this site or by talking to builder's representatives. But what people really want to know is "what's the catch?". My clients often say, "Tell me the worst things about this purchase and I'll make the decision about whether this is a good buy for me or not."
So, I'm providing this is a critical look at the Henry and the value of what a buyer might find at the Henry.
For some, only brand new will do. If you're looking for new construction in Alexandria check out our map of newly built homes. Click the button to pop-up a map of homes in the City of Alexandria.
Properties in Alexandria
Photos coming Friday! Welcome to 110 W Nelson, the gorgeously curated home in the desirable Del Ray neighborhood! New from the ground up (2022), there is no shortage of space in this 6 bedroom, 4.
5 bathroom, over 4K sqft home which features both a main and upper level primary suite! With 10ft soaring ceilings, the main level offers a traditional layout and plenty of space for entertaining or relaxing. The expansive kitchen features white shaker cabinetry, stainless appliances, and a large peninsula with plenty of seating and storage. The great room is the perfect place for gathering indoors around the gas fireplace, or open the tall sliding doors and enjoy the lovely Spring evenings on the back porch while overlooking the beautiful yard! A coveted main level primary suite features a perfect private balcony, ensuite bathroom with a tiled shower, and a large walk-in closet including a stackable washer/dryer for convenience. Walk upstairs past the built-in bookshelves (and storage seats!) to 4 generously sized bedrooms, 2 full bathrooms, and a spacious laundry room! The upstairs primary suite is a true oasis featuring a walk in closet, huge ensuite bathroom and a large soaking tub. The lower level is full of surprises including built-in locker shelving in the mudroom area and a mudroom closet with built-in cubbies. Continue downstairs to an expansive lower level where the soaring ceilings continue, and a ton of storage! The large recreation room offers plenty of space for a family room, game room, or playroom. An exercise room with sliding doors has plenty of ceiling height for all the equipment, and also plenty of natural light to use as a home office. Don't miss the 6th bedroom with a lovely bathroom, perfect for a guest room or au-pair room. Home is more important than ever and this one checks every box! Ideally located in the heart of Del Ray near plenty of shopping, dining, schools, playgrounds, and endless community events, you will love living in this amazing community! Welcome home! [Del Ray - $2,000,000]
Here’s your opportunity to own one of the most prominent, turnkey 3 level, custom modern farmhouse homes in Hollin Hall on a beautiful .
24 acre corner lot. The current sellers have added $50,000 in thoughtful upgrades - including reinforced basement waterproofing and drain system, upgraded landscaping, custom Shade Store window treatments, custom bench cushions, Ring security cameras, ADT security system, garage floor epoxy finish, fully fenced yard, and stained decking and fence. In 2019, this home underwent a near complete tear down and rebuild to present this like new custom build. The unique corner lot floor plan showcases 4 sides of direct natural sunlight, keeping this home bright and airy all day long.
The first floor features 9’ ceilings, wide plank hand scraped hardwood floors, an expansive chefs kitchen with island seating for 6. It opens up to a vaulted ceiling family room with gas fireplace and half bath. Home chefs will appreciate the stainless steel appliances - commercial grade 36” Bertazzoni Gas Range with 6 burners, Bertazzoni refrigerator and dishwasher, microwave drawer, mini wine fridge, along with 2 sizeable pantry closets. The separate formal dining room seats up to 10 comfortably (Host for the Holidays!). A main level bedroom with a full bathroom provides optionality for guests or home office space. The oversized mudroom off the garage includes washer & dryer, a laundry chute coming down from the owner's suite, built-in coat rack storage and outside deck access. The additional covered side deck has a gas line ready to connect your outdoor grill.
Upstairs includes 5 bedrooms and 3 full bathrooms, 9’ ceilings, an expansive luxury owner's suite with vaulted ceiling, a custom built out walk-in closet and remote controlled window treatments. The attached bathroom includes a 7' x 4' shower, separate deep soaking tub, wide closet with shelving, and double sink vanity. Down the hall you have 4 bedrooms and 2 additional full bathrooms.
The fully finished basement includes built in custom bench seating with custom made cushions and built in entertainment shelving. The basement utility closet can be used for a large storage space or converted into another full bathroom (framed out and plumbing access ready). The high ceiling garage comfortably fits 1 vehicle and leaves room for shelving and storage. The yard is fully fenced in with a wrap around deck for your outdoor enjoyment. This home was built for comfort by including 2 HVAC zones and tankless water heater with constant hot water. It comes complete with an ADT security system, Ring Camera system, and Verizon Fios fiber optic high speed internet.
This residence is conveniently located in the wonderful community of Hollin Hall Village in the Fort Hunt Area. It is across the street from playgrounds, baseball fields and park for all to use. Walking distance to coffee shop & bakery, grocery store, pharmacy, restaurants, bank, clothing stores, hardware store, the famous Variety Store, and neighborhood pool Mount Vernon Park Association with 3 pools, 4+ acres of park area, private fishing pond, tennis courts, basketball courts, and volleyball. Just minutes from Old Town Alexandria, Belle Haven Country Club, Mount Vernon Estate, The picturesque Mount Vernon bike trail that runs from DC to Mount Vernon and easy commutes via the picturesque George Washington Parkway along the Potomac River to Downtown DC, The Pentagon, Fort Belvoir, Joint Base Anacostia Bolling, and Amazon HQ2. Located in the coveted Waynewood Elementary School
district and available to move in immediately [Hollin Hall Village - $1,599,000]
OPEN SUNDAY 4/21 12:00-2:00 PM.
MUST SEE 1BR+Multi-Functional Den at a SMASHING NEW PRICE in Old Town's premier waterfront condominium: Robinson Landing. Rare opportunity to live on one-level in the desirable southeast quadrant, 1/2 block to the river. Location, Luxury and Convenience in this jewel box of a home. Robinson Landing offers amenities galore, including 24/7 concierge; centralized package and mail delivery management; long-term vacation mail/package management; climate-controlled storage; waterfront, state of the art fitness center; yoga studio; conference/party rooms; dog spa; bike room. AND Robinson Landing boasts a very popular speaker series featuring impressive, top-notch thought leaders, authors and historians. Don't delay. Start savoring the true sense of community that is Robinson Landing.
This sprawling, 1,350 square foot home lives like a 1-level townhouse (no stairs), and a convenient elevator whisks you to your secure garage parking spot. The versatile den makes a fabulous home office AND may convey with a convenient murphy bed for overnight guests. Seller’s custom upgrades and furnishings (some of which may be available for sale) include a wall of brick replicated from an old Chicago warehouse highlighting expansive windows and sunny exposure; a board and batten accent wall in the primary bedroom; Farrow and Ball paints; motorized shades; shelving in laundry closet; and elegant light fixtures throughout. Gently lived in, every inch of this home is utilized to perfection: closets galore, exquisite dual vanity en-suite with every high-end feature imaginable. Snaidero Italian kitchen cabinets, Bosch and Thermador stainless steel appliances, sparkling quartz countertops, large island with counter seating. You’ll love the sunny southern exposure, easy access to the wonderful walking and biking path along the river, the waterfront restaurants, and array of interesting shops and boutiques along King Street. Enjoy quiet moments on your sunny private balcony, chatting with neighbors as they stroll along Wolfe Street. Don't delay. Motivated seller.
NOT located in a flood zone; flood insurance not required; Condominium's master insurance policy maintains flood policy for the building. [Robinson Landing - $1,149,000]
Discover your new home at 801 N.
Fairfax Street #411, located in the heart of Old Town's thriving Arts District. This 2 bedroom, 2 bath luxury condo offers modern design and convenience in one of the city's most sought-after neighborhoods.
Featuring an open-concept design that flawlessly integrates the living, dining, and kitchen spaces. The kitchen itself is equipped with sleek Europa white cabinetry for your storage needs, a large center island with space for seating, stunning quartz countertops for meal prep, and state-of-the-art Bosch stainless steel appliances that promise to inspire any culinary enthusiast. The elegance of 7-inch plank flooring stretches beneath your feet, perfectly accenting the majestic 12-foot ceilings above, creating an environment that feels both expansive and inviting. An abundance of natural light floods in through expansive windows, highlighting the unit's aesthetic appeal and is complemented by a private balcony (with views of the Potomac River!) for outdoor enjoyment.
The primary bedroom includes a luxurious en-suite bathroom with a double sink vanity and spa-like shower, and a spacious walk-in closet featuring custom shelving and cabinetry.
The building's amenities are nothing short of spectacular. Envision yourself enjoying sweeping views from the rooftop deck, featuring a grilling area, lounge seating, and inviting fire pits, ideal for hosting gatherings. The clubroom and outdoor communal spaces serve as extensions of your home, offering serene spots to unwind and mingle with fellow residents. Additionally, a designated storage unit within the building (on the same floor!) addresses your extra storage needs.
Situated right in the center of Old Town's dining, and shopping scene, you'll have everything you need just moments away. Located within steps to Trader Joes, the Braddock Road Metro Station, and King Street with all it has to offer! Plus, it's super close to Reagan National Airport. Outdoor enthusiasts will appreciate the proximity to the Mount Vernon Trail. [Old Town - $899,999]
Welcome to the epitome of luxury living in the heart of the vibrant town of Alexandria! Nestled within the most sought-after neighborhood, this stunning former model home sets the standard for modern elegance and convenience.
Situated in the best location, every aspect of this residence has been meticulously designed to offer an unparalleled lifestyle experience.
As you approach the property, you are greeted by manicured landscaping and a grand entrance, hinting at the opulence that lies within. The exterior facade exudes timeless charm, with a perfect blend of contemporary architectural elements and classic allure.
Step inside and be prepared to be enchanted by the seamless fusion of sophistication and functionality. Expansive windows flood the interior with natural light, illuminating the meticulously crafted living spaces. The open-concept layout effortlessly connects the living, dining, and kitchen areas, creating an ideal environment for both entertaining and everyday living.
The gourmet kitchen is a chef's dream, boasting top-of-the-line appliances, double oven, custom cabinetry, and premium finishes. Whether you're hosting a lavish dinner party or preparing a casual meal for the family, this culinary haven provides everything you need to unleash your culinary creativity.
Retreat to the luxurious master suite, where serenity and comfort await. Featuring a spacious bedroom, spa-like ensuite bathroom, and ample custom-made closet space, this private sanctuary offers the perfect escape from the hustle and bustle of everyday life. Additional bedrooms and bathrooms upstairs provide plenty of space for family and guests, ensuring everyone feels right at home.
Indulge in the ultimate blend of comfort and convenience with a host of custom features meticulously curated for modern living. Current owners enhanced space with exquisite custom-built cafe shutters, offering both privacy and charm while allowing natural light to grace your home. Experience unparalleled organization with Closet of America's custom-built closets, providing ample storage solutions tailored to your needs. Rest easy with a state-of-the-art security system, ensuring peace of mind and safeguarding your haven. Immerse yourself in a symphony of sound with speakers strategically placed on both the first and second floors, creating the perfect ambiance for every occasion. Entertain in style with a dedicated media room and wet bar in the basement, where movie nights and gatherings become unforgettable experiences. These exceptional amenities combine to elevate your lifestyle, promising luxury and convenience at every turn.
In addition to its unparalleled beauty and luxury, this model home also offers the utmost in convenience and connectivity. Located in the heart of town, residents enjoy easy access to a wealth of amenities, including shopping, dining, entertainment, and more. With everything you could possibly desire right at your fingertips, this is truly the best location to call home.
Don't miss your opportunity to own this extraordinary model home in the most coveted location in town. Impeccably designed and meticulously crafted, this is more than just a 55 + residence—it's a lifestyle statement. Schedule your private tour today and experience the pinnacle of luxury living for yourself.
In-Wall Pest Control by Home Team Pest Defense. L- Shape couch in the basement and kitchen bar stools convey with the property as well as W/D. Owners invested almost $50K in additional upgrades. Gutters were power washed and cleaned this week.
55+ ACTIVE ADULT COMMUNITY!
OFFERS ARE DUE ON MONDAY APRIL 22 AT 12 PM.
Please call listing agent Viktoria Grygorian with any questions (571) 296-8525 [Crest of Alexandria - $995,000]
If you're thinking of buying a new construction in your next home, you probably already know that every new home development will have its own sales staff. These people are often friendly, helpful and very knowledgeable about the newly built home. However, these folks work to sell this property only. The on-site staff of a builder knows the property as-well-as or better than anyone around and they are there to assist you but they work for the builder.
When in the market for a newly built home, it's a good idea to employ your own advocate, an agent who does not work for the builder, to look out for your interests. We don't work for the builder ... we work for you. Our agents know the entire area, not just one property. We know the pitfalls and benefits of buying new, and best of all it won't cost you one dime more than if you use the onsite staff. You have a right to representation:exercise that right today!
Here are the products grabbing the attention of the home building and remodeling industries, according to Bill Millholland, executive vice president of sales and marketing at Case Design/Remodeling in Maryland, and Jamie Gibbs, a New York-based interior designer:
Appliance Drawers. Small warning drawers, modest-sized dishwasher drawers for small loads, refrigerator drawers and microwave drawers.
Counter-depth refrigerators. Some are only 24 inches deep.
Motion-detecting faucets. Like you'd find in the restrooms of businesses.
LED (light-emitting diode) lighting. These are used under cabinets and in ceiling fixtures as a longer-lasting, more efficient alternative to compact fluorescent lamps and incandescent bulbs.
Electric heated floors. A nice touch in bathrooms,
Showers with multiple heads and body sprays. Bathtubs are out.
Housing starts rose 10.5 percent in August to an annual rate of 598,000 homes, the most since April, the Commerce Department announced Monday.
Housing starts were up 2.2 percent in August compared to the same month last year, while permits decreased 6.7 percent.
Construction of single-family houses rose 4.3 percent to a 438,000 annual rate after declining 6.7 percent in July.
Construction of multi-family homes increased 32 percent to an annual pace of 160,000.
Housing starts increased 7 percent in the South, 34.3 percent in the West, and 21.7 percent in the Midwest. Starts fell 24.3 percent in the Northeast.
Source: Bloomberg, Courtney Schlisserman (09/21/2010)
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…
