This is a sponsored article from Eve Thompson of Reston Real Estate. She writes twice weekly on Reston Now.
Property inventory is still low with just 77 active listings in all three Reston zip codes. Serious buyers are ready with pre-approvals in hand as they search the internet and hit the open houses. The serious sellers have cleaned, painted and de-cluttered to make their property as appealing as possible.
Thirteen properties came on the market but nineteen went under contract. Here are some of the properties listed this week.
1754 SUNDANCE DR 3BR 2.5 Baths $369,900
11768 BAYFIELD CT 3BR 2.5 Baths $374,900
2114 GREEN WATCH WAY #201 2BR 2 Bath $270,000
2158 GREENKEEPERS CT 3BR 2 Full 2 Half Bath $415,000
1455 PARK GARDEN LN 3BR 3.5 Baths $535,000
11990 MARKET ST #1215 3BR 2Baths $990,000
For complete real estate coverage, visit Reston Now’s Real Estate section.
This is a sponsored column by Eve Thompson of Reston Real Estate. She writes twice weekly on Reston Now.
If you’re living in Reston, chances are you are a member of Reston Association. That means if you want to make a change to the exterior of your home, you’ll need the approval of the Reston Association Design Review Board (DRB).
For some reason, working with the DRB fills many people with dread. I’m not sure why. Working the DRB is really very easy. I’m not just saying that because I’m on the RA board and am DRB Liaison. For years, I’ve helped my clients (and friends and neighbors) work with the DRB. There are three simple tips for making the whole process smooth sailing.
1. Don’t assume that what your neighbor did is OK
There is no worse surprise than building your deck or adding a few windows only to get a letter from RA saying your in violation of design standards. In most of these situation, had the homeowner shown the plans to the DRB, the plans would have been approved with just a minor adjustment—saving the homeowner a lot of money and misery in the long run.
How can you avoid this mistake? Easy. Don’t assume because your neighbor has done something that it is OK. If you want to build an addition or make an alteration, contact RA and go through the design review process. The time you spend upfront will save you time and money later.
2. Follow the Process
My second piece of advice for homeowners is to simply follow the process. It’s not difficult. The Reston Association website provides very detailed information about what the DRB covers, how to fill out the application, and who to talk to if you have questions. (Hint, it’s your covenants advisor. Call 703-435-6530 to find yours.)
3. Take advantage of the Covenants Advisors
Your covenants advisor is a tremendous resource when it comes to planning your alteration/addition. They know what the guidelines are and they know what will or will not get DRB approval. You can save yourself tremendous time and energy by reaching out to them from the beginning. Some of the things they’ll do for you include:
- Sending you the guidelines or cluster standards that relate to your project
- Advising you about the information you will need to provide with your application
- Explaining how the review process works and what level of review and application will be necessary
- Giving you an estimate of how long the review process might take for your project
- Working with them is a benefit of RA membership. So use it!
The DRB plays an important role in upholding the design standards that make Reston so unique. Enjoy the process—and enjoy the the changes to your home.
This is a sponsored column by Eve Thompson of Reston Real Estate. She writes twice weekly on Reston Now.
There are many pros to townhouse living — for me, the common space is one of the big ones. It’s nice to have lots of green space that somebody else maintains. For many people, though, privacy is one of the detractors of a townhouse community.
Arbor Glen Cluster in Reston is one of those rare neighborhoods that has it all — lovely architecture, plenty of common space, and privacy. Lots of privacy.
Miller & Smith designed this community of 44 townhouses to maximize privacy. The townhouses are arranged in groups of four to six in a “Z” row, which means that each house feels more private. A private, one-way road loops the cluster, adding to the charm of the neighborhood. While Arbor Glen is right off busy Lake Newport Road, and close to Reston Parkway (only the soccer fields stand between the two), the neighborhood is exceptionally quiet.
These spacious three- and four-bedroom townhomes were built between 1986 and 1988. Nestled in a wooded area, Arbor Glen is less than a five-minute walk to Northpoint Village Center and Lake Newport pool (Reston’s only Olympic-sized pool). Reston Town Center is less than two miles away.
If you’re looking for the privacy of a single family home, the convenience of a townhome community, and easy access to shopping, schools, and recreation, then Arbor Glen is the neighborhood for you.
This is a sponsored column by Eve Thompson of Reston Real Estate. She writes twice weekly on Reston Now.
The real estate market in Reston was strong throughout 2013, with the volume of transactions out pacing last year by almost 10 percent.
Nationwide, property values were up 14 percent. As predicted, last year Reston did not see large across the board price increases this year (our values were up 12 percent last year), but demand was strong and inventory was low which meant that properties were moved quickly with little price negotiation. The average days on market in Reston were just 21 compared to an average of 35 in Fairfax County.
Prices were up in some market segments in Reston, mainly in properties selling at $400,000 and under. Property in the $401,oo0- and-over market segment held steady after the very strong gains make in 2012. The average home price was $456,000, compared to $455,000 in 2012. Low interest rates and improved consumer confidence spurred very strong sales that were inhibited by a lack of inventory.
Many owners who held onto their underwater mortgages are finally right-side-up since the 2007 housing bubble burst. Investors continue to be active in the Reston real estate market, with 16 percent of all transactions closing in cash.
What to expect for 2014? The opening of the Metro will usher in a new day for Reston. I think the property values within that magic mile will see steady price increases as the value of being able to walk from the Metro to one’s front door begins to sink in with the buying public. Groundbreaking in some of the areas slated for Reston’s first redevelopment efforts, Lake Anne for example, should also have a positive impact on home values in those areas as well.
I would expect to see a fairly balanced market — inventory may be somewhat constrained but changes in the lending guidelines will mean that it will be more difficult to qualify for a mortgage, so a buyer with a pre-qualification from a good lender is going to be in demand.
The table below shows the volume of real estate transactions sold over the past 11 years along with the average price and percent of change over that time period. From a seller’s perspective, things are definitely moving in the right direction.
| Year | Volume | Units | Ave Price | Dif +/- |
| 2002 | 502M | 1795 | 280K | |
| 2003 | 588M | 1877 | 314K | +11% |
| 2004 | 725M | 1955 | 371K | +18% |
| 2005 | 863M | 1853 | 466K | +25% |
| 2006 | 589M | 1307 | 451K | -3.2% |
| 2007 | 556M | 1212 | 458K | +1.5% |
| 2008 | 368M | 965 | 381K | -20% |
| 2009 | 439M | 1148 | 383K | — |
| 2010 | 440M | 1104 | 399K | +4% |
| 2011 | 378M | 937 | 403K | +1% |
| 2012 | 483M | 1061 | 455K | +12% |
| 2013 | 515M | 1138 | 456K | — |
Here’s wishing all of Reston a happy and prosperous New Year!
We can expect inventory to start rising as we come out of the holiday season—and thank goodness because there’s not a lot out there. If you’re looking to buy here are the new listings.
This is a sponsored column from Eve Thompson of Reston Real Estate. She writes twice weekly on Reston Now.
12104 KINSLEY PL 2BR 3.5 Baths $949,000
11442 TANBARK DR 4BR 2.5 Baths $699,900
11416 LINKS DR 4BR 2.5 Baths $389,900
1717 ASCOT WAY #D 2BR 2 Baths $295,000
12311 TIGERS EYE CT 3BR 1.5 Baths $275,000
1307 GARDEN WALL CT #912 2BR 1 Bath $255,000
11650 STONEVIEW SQ #22C 3BR 2 Baths $209,000
Reston Real Estate would like to thank everyone who liked our facebook page during the month of December. We pledged to donate $1 to Cornerstones (formerly Reston Interfaith) for every new “like” on our page- we will (happily) be writing a check for $275.00.
This is a sponsored article from Eve Thompson of Reston Real Estate. She writes twice weekly on Reston Now.
Looking for a home in Reston? Several new homes hit the market this week:
11442 Tanbark Drive, 4 BR, 2.5 BA, SFH. $699,900
11760 Sunrise Valley Drive #113, 2 BR, 2 BA Condo. $389,233
12001 Talesin Place #35, 2 Br, 2 BA Condo. $365,000
2140 Whisperwood Glen Lane, 3 Br, 2.5 BA TH. $344,000
11800 Sunset Hills Road #701, 1 BR, 1 BA Condo. $299,900
11631 Stoneview Square #2B, 2 BR, 2 BA Condo. $169,900
This is a sponsored column from Eve Thompson of Reston Real Estate. She writes twice weekly on Reston Now.
The market is a little “sleepy” right now with just 105 properties on the market. Things will pick back up after the Jan. 1. Reston has seen solid numbers in the last 12 months– that’s the topic of an upcoming post. For right now here are the new listings.
12092 CHANCERY STATION CIR 3BR 4.5 Bath $899,900
2299 HITCHCOCK DR 3 BR 3.5 Bath $614,900
2002 GOLF COURSE DR 3BR 2.5 Bath $459,000
1474 GREENMONT CT 3BR 2.5 Bath $400,000
11522 MAPLE RIDGE RD 3BR 2 Bath $359,000
11298 SILENTWOOD LN 3BR 2.5 Bath $315,000
12001 MARKET ST #T29 1BR 1 Bath $295,000
1400 NORTHGATE SQ #12B 2BR 2 Bath $219,997
For every new Like to our Facebook fan page in the month of December we’ll donate $1 to Cornerstones, formerly Reston Interfaith. Like us so we can give!
This is a sponsored column by Eve Thompson of Reston Real Estate. She writes twice weekly on Reston Now.
Want the ease of condo living, without living in a traditional condominium high rise? Ivy Oak is the place for you.
This condominium community is truly a gem, especially for families with young children (they will love the large playground!). And, Ivy Oak is about a ten minute walk to Reston Town Center, close to both Whole Foods and Harris Teeter, and has easy access to the new Wiehle metro station.
Ivy Oak Cluster was built in 1970-71 and consists of 96 two-story, three- or four-bedroom townhomes. Each has a nice backyard space, many of which are fenced. The neighborhood also has a large common space with a wonderful playground. Ivy Oak is located off North Shore Drive, close to Temporary Road.
For me, the nice thing about condo living in Reston is that all of the exterior maintenance is covered in your condo fee. That means you won’t have to replace your roof, or any other major exterior repair. Now that is peace of mind for the busy professional or family.
There are no current listings in Ivy Oak Square but this past year 9 properties sold with an average price of $355,700 (maximum $384,900; minimum $323,000) and an average days on market of just 12.
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For every new Like to our Facebook fan page in the month of December we’ll donate $1 to Cornerstones, formerly Reston Interfaith! Like us so we can give!
This is a sponsored column by Eve Thompson of Reston Real Estate. She writes twice weekly on Reston Now.
For those who like a more traditional, colonial style of home, Governor’s Square (aka Governour’s Square) in Reston is the community for you.
Developed in the late 1960′s, the Governour’s Square townhomes are three-level homes with exterior brick construction and about 1,600 square feet of living space.
The 29 townhouses are situated on a central common area that is a great place for children and dogs to play. The beautiful open green space surrounded by mature trees lends a kind of Georgetown feel to this popular Reston Cluster. The nearby Reston Association paths are perfect for those who like to walk or run.
In fact, everything about the location of Governour’s Square is great — this small community of townhouses in Reston is less than a 10-minute walk to Reston Town Center and close to the new Wiehle-Reston East Metro station. For those with young children, Governour’s Square is also a quick walk to Lake Anne Elementary School.
Home in this popular neighborhood don’t come on the market often and when they do they go quickly. The average sales price in Governor’s Square is $450,000 and the average days on the market is a blindingly fast six days!
Reston Real Estate is continuing our dollars for Likes pledge. For every new “LIKE” on our Facebook page between today and Dec. 31, we will contribute $1 to Cornerstones, formerly Reston Interfaith.
So far, we owe Cornerstones $76. Come on, we can do better than that! Please like so we can give.
For complete Real Estate listings, visit Reston Now’s Real Estate section.
This regularly-scheduled sponsored Q&A column is written by Eve Thompson of Reston Real Estate, Long & Foster Realtors. Please submit follow-up questions in the comments section or via email.
Question: I’m a first time buyer. I’ve been looking (online), at townhouses and condos in the Reston area. It seems like I can buy more if I get a townhouse because there won’t be any condo fees. My father says that the condo fees pays for things that I’ll have to pay for eventually. What do you think?
A: I think your father is a pretty smart guy. Let’s look at the question from a different perspective. For most things that we own there is something called the “cost of ownership” which means simply that it costs money to maintain things. Cars need maintenance, pets need to go to the vet and some clothes can only be dry cleaned.
It is the same with property. It requires maintenance and repair and to maintain its value. Hopefully part of your plan to purchase a property includes understanding what it will cost to keep it in good repair.
When you purchase a condo some parts of the property maintenance are the responsibility of the condominium association. Your condo fees include a contribution to both the day-to-day operations and something called the reserve and replacement fund. The reserve and replacement fund is where the money for things like a new roof, replacement flooring in commonly shared hallways, maintenance of parking lots, garages and all the other things that the condo owners share in common. What that includes will vary from condo to condo, but it typically includes the entire exterior except for windows and doors.
When considering the purchase of a condo it is important to look at the condo’s financials and audit report to confirm that the reserve fund is large enough to cover anticipated repairs; an under funded reserve account is a future special assessment. A special assessment occurs when something breaks and there’s not enough money for the repair—the condo association then has to collect extra money from the members to make the repair.
So, the short answer to your question is that your dad is right. If you buy a townhouse you’ll have to take charge of saving to replace your roof, your water heater, your furnace, etc. In a condo some of that will be saved for you through the payment of your condo fee, but you’ll want to make sure that the condo association is well run and in good financial shape.
Follow this link to a more detailed blog post about understanding condo fees.
This is a sponsored article from Eve Thompson of Reston Real Estate. She writes twice weekly on Reston Now.
Searching for a house this Thanksgiving weekend? Here are some new listings:
12104 KINSLEY PL 3BR 3 Full 2 Half Baths $949,900
2339 ARCHDALE RD 5BR 3 Full 2 Half Baths $538,000
2073 WETHERSFIELD CT 4BR 3 Full Baths 2 Half Baths $499,000
11496 HERITAGE COMMONS WAY 2BR 2.5 Baths $470,000
11262 SILENTWOOD LN 3BR 3.5 Baths $367,500
12197 SANIBEL CT 3BR 1.5 Baths $300,000
Next week will launch the “Ask Eve” column. If you have any burning real estate related questions, send them to [email protected], maybe your question will be featured in a column.
Check out full Real Estate info in Reston Now’s Real Estate section.
This is a sponsored post by Eve Thompson of Reston Real Estate. She writes twice weekly on Reston Now.
I love Thanksgiving in Reston. Everyday, I am truly grateful to live in such an amazing place. In fact, my love of Reston had much to do with my decision to become a real estate agent, and everything to do with my decision to focus only on Reston Real Estate.
Helping people find a dream home in the place I call home really can’t be called work
As I’m getting ready for Thanksgiving this year, I’ve been reflecting on some of the things about Reston I especially love.
1. I love looking out of my office window at Lake Anne and watching the model boat regattas or couples paddling toward the fountain in a paddle boat.
2. I love going to the Farmer’s Market every weekend and buying fresh produce and meats from local farmers.
3. I love walking on the Reston Association paths—whether I have a destination like Reston Town Center in mind, or I’m just wandering.
4. I love running into friends at the grocery store or when I’m out to dinner.
5. I love the civic activism, and how people in Reston care about this place and want it to flourish; even when we’re disagreeing on how that should look.
There is more that I love about Reston, but those five things sum it up for me. Reston is a fabulous place not only to live, but to have a full life. Today, I feel very grateful.
I hope your Thanksgiving is filled with laughter, love, and gratitude.
This is a sponsored column by Eve Thompson on Reston Real Estate. She writes twice weekly on Reston Now.
There were 19 new properties listed in Reston this week for a total of 135 properties on the market. Inventory tends to shrink as we move into the holiday season but serious buyers are always searching. Here are a few of the new listings.
1210 WOODBROOK CT, RESTON, 3BR 3.5 Bath, $649,900
2600 SOAPSTONE DR, 5BR 2.5 Bath, $629,000
2042 LAKEWINDS DR , 4BR 3.5 Bath, $569,000
12105 PURPLE SAGE CT N, 3BR 1.5 Bath, $319,995
2242 SOUTHGATE SQ, 5BR 4.5 Bath, $395,000
Click here for a list of everything that’s for sale in Reston.
For more real estate information, including mortgage rates, visit Reston Now’s Real Estate Section.
This is sponsored post from Eve Thompson of Reston Real Estate. She writes twice weekly on Reston Now.
Looking for a new home? The fall market is going strong. There are 14 new listings in Reston this week.
Here are a few of them:
11056 SAFFOLD WAY, 3BR 2.5 Bath, $299,900
11928 FIELDTHORN CT, 2BR 1.5 Bath, $324,900
11800 SUNSET HILLS RD #117, 1BR 1 Bath, $360,000
2200 GOLF COURSE DR, 3BR 2.5 Bath, $410,000
2306 DARIUS LN, 5BR 2.5 Bath, $549,000
For the full list of Reston homes for sale click here.
Check out Reston Now’s Real Estate Section for more listings, open houses and mortgage information.
This is a sponsored column by Eve Thompson of Reston Real Estate.
Autumn in Northern Virginia is a beautiful time of year, and there are plenty of activities within an hour of Reston you and your family can enjoy. In fact, there are too many to list. So I’ve narrowed it down to my five personal favorites. Whether I want to hang out in Reston, venture into the city, or head out into the country, there is always something fun to do in or near Reston.
1. Reston Fall Farmer’s Market and Artisan Craft Market, Lake Anne Plaza, Reston.
The popular Reston Farmer’s Market and open air craft market are the must-do Saturday morning activity for many Restonians. People love the markets so much that starting this year they’ll stay open through December 21. If you love buying seasonal produce from local farmers, and love buying beautiful handcrafted arts and gifts from local artisans, you will not want to miss the markets! The Fall Farmer’s & Craft Market is open 9 a.m. to 1:00 p.m. on Saturdays. Be sure to check out the new prepared food vendors, Uncle Fred’s BBQ and Arnest Sea Food.
2. Hiking at Great Falls Park, Great Falls, Va. and Potomac, Md.
Many people who move to Reston are surprised to find they don’t have to travel far to find themselves in a tranquil wilderness. Great Falls National Park may only be a few short miles from the bustle of Washington, DC, but it is worlds away from any city. On the Virginia side, you can watch the mighty falls or hike along the miles of paths that twine through the park. On the Maryland side, you can experience the Billy Goat Trail (so named for the rock scrambling you get to do). Both sides of the river are great, and about a ½ hour from Reston.
3. Beer tasting at Corcoran Brewery, Waterford, Va.
For beer lovers, a visit to the Corcoran Brewery is a hops lovers paradise. This craft brewery uses locally grown hops as much as possible, and brews small batch beers in a variety of styles. The tasting room is cozy—bring a picnic, the kids, and your dog and prepare for a wonderful afternoon. Just 45 minutes from Reston, the rural setting of Waterford will rejuvenate you. And if you are traveling with wine lovers, there is something for them too.
4. Wine tours and tastings, Loudoun County, Va.
Virginia wines have come into their own in the past several years, and many of the best wineries in Virginia are a quick 45-minute trip from Reston. Few things are more fun then getting together with friends and touring the great wineries in the area. I like being adventurous and just driving down Route 9, pulling off to the vineyards as I see them. But many people prefer to schedule a tour. Virginia Wine Country Tours and Reston Limousine both offer great private tours. Either way, you’re bound to experience some amazing wines.
5. Union Market, Washington, DC
There is more to do in DC than visiting museums (although that is fun). Union Market showcases local artisanal vendors like Rappahannock Oysters, Red Apron Meats, and Lyon Bakery. Although it first opened in 1871, it’s recent revitalization in 2012 is adding some energy into this North East neighborhood. Come sample treats, enjoy coffee or cocktails, and attend foodie events like celebrity chef demonstrations. There is always something to do, taste, or smell at Union Market.
I’ve been getting some great real estate questions and have decided that the questions and answers may have universal interest; so look for “Ask Eve” the first Monday of each month- if you have a real estate related question feel free to email me at [email protected] maybe your question will be featured in the column.
