Searching for a new home? Start with these open houses.
11709 Old Bayberry Lane
4 BR, 3.5 BA SFH
$599,900
Open Sunday, 1 to 4 p.m.
11803 Foxclove Road
4 BR, 3 FB, 2 HB SFH
$699,900
Open Sunday, 1 to 4 p.m.
1369 Park Garden Lane
3 BR, 2 FB, 2 HB TH
$620,000
Open Sunday, 1 to 4 p.m.
12138 Purple Sage Court
2 BR, 1.5 BA TH
$329,900
Open Sunday, 2 to 5 p.m.
1347 Garden Wall Court
2 BR, 1 BA Condo
$280,000
Open Sunday, 3 to 5 p.m.
1290 Golden Eagle Drive
5 BR, 3.5 BA SFH
$779,000
Open Sunday, 2 to 4 p.m.
12000 Market Street
2 BR, 2 BA Condo
$484,900
Open Saturday, 12 to 4 p.m., Open Sunday, 1 to 4 p.m.
11710 Olde English Drive
1 BR, 1 BA Condo
$222,500
Open Sunday, 1 to 4 p.m.
11220 Chestnut Grove Square #122
2 BR, 1.5 BA Condo
$239,900
Open Sunday, 1 to 4 p.m.
For complete more open houses and complete real estate information, visit Reston Now’s Real Estate page.
This is a sponsored post from Eve Thompson of Reston Real Estate.
Reston’s real estate market saw 18 homes go from Pending to Sold in the past 10 days. For all the fretting about a slower market over the summer, year-to-date sales are on track for a very solid 2014 in Reston real estate.
To date, 766 properties have sold–based on our quarterly averages we should see over 1000 homes sold by the end of the year. Here are a few of the ones that sold this past week.
- 11817 GREY BIRCH PL. 3BR, 2.5 BA. List Price, $650,000; Sold Price, $650,000. Seller Subsidy, $3,750
- 2204 COPPERSMITH SQ. 3BR, 3.5 BA. List Price, $379,000; Sold Price, $370,000. Seller Subsidy $888
- 11002 HOWLAND DR. 4BR, 2.5 BA. List Price, $479,900. Sold Price, $479,900. Seller Subsidy $5,000
- 11218 WEDGE DR. 4BR, 3.5 BA. List Price, $760,000; Sold Price, $742,000
- 1599 AUTUMN RIDGE CIR. 3BR, 3.5 BA. List Price, $439,900; Sold Price, $440,000. Seller Subsidy $7000
- 12012 TALIESIN PL #16. 2BR, 1.5 BA. ListPrice, $334,900; Sold Price, $330,000
- 1650 BENNINGTON HOLLOW LN. 3BR, 2 FB, 2 HB. $674,900; Sold Price, $662,000
- 2325 HARLEYFORD CT. 3BR, 2.5 BA. List Price, $385,000; Sold Price, $370,000
- 1717 WAINWRIGHT DR. 4BR, 2.5 BA. List Price, $369,900; Sold Price, $350,000
This is a sponsored article from Eve Thompson of Reston Real Estate.
This week in Reston, 37 new properties came on the market. That brings the total inventory of homes for sale to 275 — the highest number in two years but still only slightly more than a 2.5-months supply of homes.
Real estate agents keep a careful eye on the number of homes for sale because it’s the primary indicator of what type of market we are in — is it a buyer’s market, a seller’s market or is it neutral?
Typical of Reston, we don’t adhere to simple labels. If you’ve taken care with getting your home ready to sell by deep cleaning, organizing and de-cluttering and you’ve resisted the temptation to price your home as if it were the very best one ever, you will likely be rewarded with a contract in less than 30 days.
We are seeing a lot more requests for seller paid closing costs in contracts and buyers are being more demanding about home inspection items, all things to keep in mind as you prepare your home for market.
Here are a few of the new listings for this week:
2116 GREEN WATCH WAY.#201, 2BR. 2 Bath, $275,000
11192 SILENTWOOD LN. 2BR, 2 BA, $335,000
1144 ROUND PEBBLE LN. 5BR, 4.5 BA, $998,900
1565 OLD EATON LN. 5BR ,3.5 BA, $839,300
Check out these open houses this weekend in Reston
11401 Gate Hill Place
2 BR, 2 BA Condo
$359,000
Open Saturday, 1 to 4 p.m.
Open Sunday, 1 to 4 p.m.
1515 North Point Drive
2 BR, 2 BA Condo
$339,900
Open Sunday, 1 to 4 p.m.
11016 Granby Court
3 BR, 2.5 BA TH
$389,900
Open Sunday, 1 to 4 p.m.
2354 Generation Drive
3 BR, 2 BA TH
$400,000
Open Sunday, 1 to 4 p.m.
11403 Wild Bramble Drive
6 BR, 4.5 BA SFH
$1,148,900
Open Sunday, 1 to 3 p.m.
12025 New Dominion Parkway
1 BR, 1 BA Condo
$439,000
Open Sunday, 1 to 4 p.m.
12031 Lake Newport Road
4 BR, 3.5 BA SFH
$695,000
Open Sunday, 1 to 4 p.m.
3 BR, 1.5 BA TH
$359,000
Open Sunday, 1 to 4 p.m.
For more open houses and complete real estate information, visit Reston Now’ Real Estate section.
House hunters will have plenty to see this weekend in Reston. Start with these open houses.
2408 Cloudcroft Square
2 BR, 2 BA Condo
$300,000
Open Sunday, 2 to 4 p.m.
2046 Golf Course Drive
3 BR, 2.5 BA TH
$384,900
Open Sunday, 1 to 4 p.m.
12190 Abington Hall Place
2 BR, 2 BA Condo
$450,000
Open Sunday, 1 to 4 p.m.
2328 Hunters Square Court
3 BR, 2.5 BA TH
$379,900
Open Sunday, 2 to 4 p.m.
1547 Inlet Court
4 BR, 2.5 BA TH
$525,000
Open Sunday, 2 to 4 p.m.
1506 Twisted Oak Court
3 BR, 2 FB, 2 HB TH
$405,000
Open Sunday, 1 to 4 p.m.
12147 Purple Sage Court
2 BR, 2 BA TH
$334,900
Open Sunday, 1 to 4 p.m.
For more open houses and complete real estate information, visit Reston Now’s Real Estate section.
Searching for a new home? Start with these open houses in Reston this weekend.
1851 Stratford Park Place
2 BR, 3 BA Condo
$759,000
Open Sunday, 2 to 4:30 p.m.
2204 Coppersmith Square
3 BR, 3.5 BA TH
$379,000
Open Sunday, 1 to 4 p.m.
11012 Raccoon Ridge Court
4 BR, 2.5 BA SFH
$799,900
Open Sunday, 1 to 4 p.m.
11530 Links Drive
4 BR, 2.5 BA TH
$485,000
Open Sunday, 1 to 4 p.m.
11162 Harbor Court
2 BR, 2 BA Condo
$495,000
Open Sunday, 1 to 5 p.m.
11400 Washington Plaza West
Studio Condo
$162,000
Open Sunday, 10 a.m. to 12 p.m.
11966 Heathcote Court
3 BR, 2.5 TH
$399,00
Open Sunday, 2 to 4 p.m.
12189 Sanibel Court
3 BR, 1.5 BA TH
$300,000
Open Sunday, 1 to 4 p.m.
1703 Ascot Way
2 BR, 2 BA Condo
$269,900
Open Sunday, 2 to 4 p.m.
1130 Gatesborough Way
3 BR, 2 BA SFH
$535,000
Open Sunday, 1 to 3 p.m.
2231 White Cornus Way
2 BR, 1.5 BA TH
$285,000
Open Sunday, 1 to 4 p.m.
11407 Fieldstone Lane
5 BR, 4.5 BA SFH
$949,900
Open Sunday, 1 to 4 p.m.
1209 Weatherstone Court
3 BR, 2 FB, 2 HB TH
$550,000
Open Sunday, 1 to 3 p.m.
For more open houses and complete real estate information, visit Reston Now’s Real Estate Section.
If you are searching for a new home, start with these open houses this weekend.
2316 Hunters Run Drive
2 BR, 2 BA Condo
$285,000
Open Sunday, 1 to 3 p.m.
11720 Mossy Creek Lane
3 BR, 2 FB, 2 HB TH
$435,000
Open Sunday 1 to 3 p.m.
1584 Moorings Drive
3 BR, 2.5 BA Condo
$272,900
Open Sunday, 1 to 4 p.m.
1462 Park Garden Lane
3 BR, 3.5 BA TH
$553,000
Open Sunday, 1 to 4 p.m.
11613 Windbluff Court
3 BR, 2.5 BA Condo
$310,000
Open Sunday, 1 to 4 p.m.
11966 Heathcote Court
3 BR, 2.5 BA TH
$399,900
Open Sunday, 2 to 4 p.m.
12016 Taliesin Place
1 BR, 1 BA Condo
$334,000
Open Sunday, 1 to 3 p.m.
2452 Cloudcroft Square
2 BR, 2 BA TH
$308,000
Open Sunday, 1 to 4 p.m.
12016 Tailesin Place
1 BR, 1 BA Condo
$299,000
Open Sunday, 2 to 4 p.m.
11284 Stones Throw Drive
5 BR, 3.5 BA SFH
$1,290.000
Open Sunday, 1 to 4 p.m.
1562 Scandia Circle
4 BR, 3.5 BA TH
$449,900
Open Sunday, 1 to 4 p.m.
11187 Longwood Grove Drive
5 BR, 3.5 BA SFH
$899,900
Open Sunday, 1 to 3 p.m.
For more open houses and complete real estate information, visit Reston Now’s Real Estate section.
This is a sponsored post from Eve Thompson of Reston Real Estate.
In May and June, real estate agents were reporting slowness in the market — which took most of us by surprise given how fast things had been moving.
The Just Sold numbers are now demonstrating that slowness. Just 22 properties went from Pending to Sold last week in Reston. Thirty-eight new homes came on the market during that same period. Total number of homes for sell in Reston is at a two-year high of 284.
Here are a few that sold in Reston this week.
2429 Ansdel Court. List price: $365,000. Sold price: $345,000. Days on Market: 12
1851 Stratford Park Place #407. List price: $464,900. Sold price: $448,500. Days on Market: 12
11706 Indian Ridge Road. List price: $499,000. Sold price: $495,000. Days on Market: 44
11628 Chapel Cross Way. List price: $639,900. Sold price: $650,000. Days on Market: 2
2002 Turtle Pond Drive. List price: $750,000. Sold price: $710,000. Days on Market: 84
1514 Chatham Colony Court. List price: $429,000. Sold price: $426,000. Days on Market: 20
Searching for a new home? Start with these open houses this weekend.
1703 Ascot Way
2 BR, 2 BA Condo
$269,900
Open Sunday, 2 to 4 p.m.
11753 Indian Ridge Road
4 BR, 3.5 BA TH
$549,900
Open Sunday, 1 to 4 p.m.
1599 Autumn Ridge Circle
3 BR, 3.5 BA TH
$447,500
Open Sunday, 1 to 4 p.m.
11103 Watermans Drive
4 BR, 3 BA TH
$574,750
Open Sunday, 12 to 5 p.m.
1924 Lakeport Way
4 BR, 3.5 BA TH
$649,900
Open Sunday, 1 to 4 p.m.
11406 Windleaf Court
2 BR, 2 BA Condo
$389,999
Open Sunday, 1 to 4 p.m.
11300 Gatesborough Lane
3 BR , 2 BA SFH
$549,900
Open Sunday, 1 to 3 p.m.
11218 Wedge Drive
4 BR, 3.5 BA SFH
$760,000
Open Sunday, 12 to 3 p.m.
12165 Abingdon Hall Place
2 BR, 2 BA Condo
$475,000
Open Sunday, 1 to 4 p.m.
For more open houses and complete real estate information, visit Reston Now’s Real Estate Section.
This is a sponsored article from Eve Thompson of Reston Real Estate.
In the last week, 48 New listings were added to the market. This brings the total number of homes for sale to 248.
Only 18 properties went from Active to Pending status. Prices have begun to rise, which will cool the market as affordability becomes an issue for some buyers.
Here are a few of the new listings for this week:
2058 Lake Audubon Ct. 3BR, 3.5 Baths $695,000
11990 Market St. #2111 2BR, 3 Baths $1,499,999
2284 Dosinia Ct. 5BR, 3.5 Baths $579,900
D.C.-area home buyers need about $78,503 to purchase a home around here, according one survey.
The price of real estate may come as no surprise, but the numbers are more than $15,000 higher than they were by the same company’s estimate in February.
HSH.com, a publisher of mortgage and consumer loan information, says it took the National Association of Realtors’ first-quarter data for median home prices and HSH.com’s first-quarter average interest rate for 30-year, fixed-rate mortgages to determine how much of your salary it would take to afford the base cost of owning a home — the principal, interest, taxes and insurance — in 27 metro areas.
“We used standard 28 percent ‘front-end’ debt ratios, and a 20 percent down payment subtracted from the NAR’s median-home-price data to arrive at our figures,” says HSH.
HSH says “things were more affordable in D.C. during the first three months of the year. Like Denver, Washington, D.C.,’s housing market has had a reputation of stable, consistent growth. But since the second quarter of 2013, prices have been falling, taking the required salary down with it.”
The Washington area comes in sixth place, behind San Francisco (where one needs an income of $137,129), San Diego, New York City, Los Angeles and Boston.
HSH says that the median price of a home in the metro area is $358,900.
In Reston, here is what about $358,900 will get you:
A 2 BR, 2.5 Ba townhouse on Whisperwood Glen ($350,000)
A 3 BR, 3.5 BA townhouse on Twisted Oak Drive ($369,900)
Did you get sticker shock when you opened your 2014 Fairfax County Real Estate Tax Assessment?
Many county residents did. Fairfax County said some 88 percent of residential properties saw an increase from 2013 to 2103. The average increase, was about 6.5 percent, according to county data. About 9 percent of county homeowners saw no change.
In Reston, some homeowners saw a much bigger jump, leading some Realtors to say, anecdotally, that the increase in value expected with the opening of Metro’s Silver Line later this year is already happening.
That is good news if one is trying to sell, but bad news for one’s wallet if staying.
Want to appeal your assessment. Visit the Fairfax County Department of Taxation website.
More from Fairfax County:
During 2013 the residential market continued to improve in Fairfax County. This market improvement has meant fewer foreclosures, faster sales and price appreciation in most neighborhoods.
The number of days a property was listed for sale decreased from an average of 50 days in 2012, to an average of 36 days in 2013, or an improvement of 28 percent (44 percent of these properties actually sold in 10 days or less).
Sale prices also were closer to their list price than last year, selling on average at about 98% of their list price, providing another indication of the strong residential market.
Residential sales volume in the county increased over 10 percent from 2012 sales, providing staff with more than 14,000 fair market sales to analyze in determining 2014 assessments.
While foreclosures generally have a dampening effect on competitive sale prices, their influence has had much less impact on 2014 assessments due to the decline in foreclosure activity.
When the Metropolitan Washington Airports Authority announced earlier this week that the Silver Line still has issues to fix and would not be turned over to Metro just yet, it marked the third such delay in the last several months.
While there has never been an exact opening date announced for Phase 1 of the rail extension, which will run from East Falls Church through Tysons Corner to Reston’s Wiehle Avenue, it now looks like the first riders will not be aboard until at least this summer.
Original estimates speculated the Silver Line would open in late 2013 or January of 2014.
With many businesses and real estate markets counting on rail to Reston, does this affect anyone’s plans?
Maggie Parker, spokesman for Comstock, which is developing (along with Fairfax County) the seven-level parking garage at Wiehle-Reston East, as well as the mixed-use Reston Station development above the garage. The garage is ready to open. Construction of the plaza where retail will be located is finished, and construction on the luxury apartment building just got underway.
But so far, no Metro means no tenants.
“The delay does slow things down,” says Parker. “Interest in Reston Station has increased dramatically since the track work has been finished and trains have been testing. But the real impact will be felt once we have train service here.”
“Meanwhile, we have 3,300 lonely parking spots,” she added. “If the Metro were open now, we would certainly be much farther along [in leasing space].”
Andy Klaff, executive vice president of Colliers International commercial real estate services, says most clients are thinking long term. In the big picture, a delay of a few months should not affect the commercial real estate market.
“The Silver Line delays should not affect business from Tysons to Reston,” he said. “Businesses are relocating to metro accessible projects for the long term benefit. Companies, like Intelsat and CVENT, have already signed so that they can attract and retain their employees that will utilize public transportation.”
Similarly, residential customers are being patient as well, says one Reston Realtor. The Reston area has been waiting for Metro service for decades.
“Everyone knows Metro is coming,” said Marnie Schaar of Long & Foster’s Reston North Hills office. “The weather this winter is what has had the biggest impact on buyers.”
Fairfax County real estate tax assessments went out this week, and the county says 88 percent of homeowners saw an increase in their home value due factors such as a strong economy. It is hard to say whether Reston-area values are impacted yet by proximity to Metro, something that has been predicted for years.
Bonnie Haukness of Long & Foster’s Reston office says that prices are already reflecting Metro’s impending arrival.
“I have heard of a few sellers who are waiting with the thought that once the metro station in Reston is opened, prices will climb,” she said. “In my opinion, there has already been an increase in the prices, especially on those properties that are “walkable.” Buyers, on the other hand, should be trying to purchase prior to the opening of the Silver Line, and possible further escalation.”
Photo of Reston Station by David Madison Photography.
To buy a home in the Washington area, one needs to earn a salary of $62,809, making this area the sixth most expensive in the nation.
That’s the finding from a study by HSH.com, a publisher of publisher of mortgage and consumer loan information.
HSH.com took the National Association of Realtors’ median home prices and its own average interest rate for 30-year, fixed-rate mortgages to determine how much money homebuyers in 25 cities would need to earn in order to afford the principal and interest payment on a median-priced home in their market.
San Francisco came in first, with $115,510, followed by San Diego, Los Angeles, New York, and Boston. The entire list can be found on HSH.com. Among the lowest incomes needed to buy a house: Cleveland ($19,435), Cincinnati ($22,226) and St. Louis ($22,397).
For the Washington-area formula, HSH used a home price of $368,000, a 4.5 percent loan, 20 percent down, and a monthly payment of $1,465.56.
The required salary to afford a median-priced home in the D.C. metro area jumped more than $14,000 between the first and third quarter of 2013, says HSH.
Still, the formula seems rather suspect in a county where the median household income is $107,096, the third-highest in the United States. And the median home price in Fairfax County is $442,370 — far out of reach for a person with an income of $62,809.
Reston Now Real Estate columnist Eve Thompson says a buyer around here with a $62,000 salary would not typically qualify to purchase a $368,000 home. She says that buyer would likely be approved for a purchase around the $260,000 level.
Food for thought as home prices continue to rise in Reston.
Photo: Townhouse on Wainwright listed at $359,900, or within reach of a Washington-area resident making $62,809, says HSH.com/Credit: MRIS.
Interested in homes sales nearby? Here are some Reston sales that closed in the last week:
11793 Indian Ridge Road, 3BR, 3.5BA TH. List price: $453,000. Sold price: $427,600
2299 Hitchcock Drive, 4BR, 3.5BA SFH. List price: $614,990. Sold price: $609,000
2220 Springwood Drive #H, 2BR, 2BA Condo. List price: $265,000. Sold price: $265,000
1506 Park Glen Court, 4BR, 3.5BA TH. List price: $449,900. Sold price: $442,000
1675 Poplar Grove Drive, 2BR, 1.5BA TH. List price: $319,900. Sold price: $315,000
11702 Indian Ridge Road, 4B$, 2.5BA TH. List price: $455,000. Sold price: $445,000
11236 Chestnut Grove Square #34, 2BR, 1.5BA TH. List price: $245,000. Sold price: $240,000
11184 Saffold Way, 3BR,2FB, 2HB TH. List price: $428,000. Sold price: $426,000
12004 Walnut Branch Road, 5BR, 4BA SFH. List price: $769,900. Sold price: $769,000
See more real estate information in Reston Now’s Real Estate section.
