A neighboring townhouse community to London Square, Monroe Crossing is a community of 16 townhomes also located on S 12th Street and S Monroe Street in Arlington, VA 22204. Units were built in 1997 and have a garages.
Search Monroe Crossing Townhomes for Sale
A community of 44 townhomes built in 1966 located on S 12th Street and S Monroe Street in Arlington VA 22204. Some feature attached garages.
Search London Square Townhomes for Sale
A townhouse community of 33 units built in 1978, located on S. 12th Road, S Frederick Street, and S George Mason Drive in Arlington, VA 22204. Units come with assigned parking spaces.
Search Wilde Oaks Townhomes for Sale
Now I ain’t sayin’ (s)he a gold digger…
But if you want to know where the rich and single live – Arlington may be one of your best options. Money Magazine’s 2010 Ranking of the 25 Best Places for Rich and Single posted Arlington, VA at #11. In 2009, Arlington was #2. Here are the metrics for the ranking:
Population: 212,173
Single: 41.6%
Median family income: $104,452
While most of the Top 25 are places in California, our neighbor Towson, MD was ranked #14. For the complete list of cities, read the Top 25 Rankings.
Money Magazine ranked cities with at least 30% of the population being single by median family income.
If you’re thinking of moving to Arlington or buying a house, search homes for sale in Arlington.
Looks like June was a busy month for the housing recovery in Arlington. With 308 properties sold, prices were up, on average 13.5% while days on the market was cut by 27%. On average, the properties sold for 96.18% of the list price. The number of distressed properties broke out to be 19 closed short sales and 13 closed bank-owned. Here’s the average net sale price and days on the market by location and type:
Detached Properties/Single Family Homes
North Arlington: $836,200 in 37 days (range: $440,000 – $1,700,000)
South Arlington: $593,021 in 83 days (range: $250,000 – $1,625,000)
Townhouse
North Arlington: $726,856 in 30 days (range: $440,000 – $1,070,000)
South Arlington: $378,377 in 29 days (range: $189,000 – $653,600)
1 Bedroom Condo
North Arlington: $317,128 in 37 days (range: $180,000 – $578,000)
South Arlington: $225,931 in 34 days (range: $80,000 – $350,000)
1 Bedroom + Den Condo
North Arlington: $384,908 in 29 days (range: $232,681 – $645,000)
South Arlington: $236,736 in 63 days (range: $118,000 – $320,000)
2 Bedroom Condo
North Arlington: $519,459 in 41 days (range: $272,000 – $809,000)
South Arlington: $398,561 in 107 days (range: $288,887 – $500,000)
Compare these numbers to June 2009.
Keep in mind, these are just averages. Ranges are wide throughout the County, so for a more accurate pricing of your particular property, please let me know the specifics.
If you’re thinking of becoming a landlord, usually a few things have happened: either can’t sell your place because you’re underwater, you’re getting relocated for a job but plan to come back, you’ve decided to put real estate into your portfolio of assets, or some other life decision has forced you out of the place you call home. Either way, you’re no longer going to be occupying your property and need to find some reliable tenants to help subsidize your mortgage, or pay for all of it 
How will you manage the property….what if repairs need to be made? Who will you call?
How do you find tenants? Do background and credit checks? Handle disputes?
How do you collect rent?
Option 1: Going Rogue.
If you’re handy or have reliable resources for repairs, should the need arise, perhaps you should consider going rogue. If you’re local and can easily access the property, you can save yourself some money. Finding a tenant can sometimes be a headache, but with local resources like Craigslist, MilitaryByOwner.com, hotpads.com, and trulia your exposure can be widespread. You’ll have to check backgrounds, verify employment, and negotiate lease terms on your own.
Option 2: Using a Realtor.
Every broker is different and has different policies on landlord/tenant policies, so I will only speak from my point of view as an agent with Keller Williams Realty. Generally, we will market the property, accept and process applications, do a background/credit check, and write the lease on your behalf for a 1-time fee (this fee will also vary from agent to agent.) Repairs, rent collection, etc are all up to you. We get you a qualified tenant and then step out of the picture.
Option 3: Using a Property Manager.
The “throw money at it” solution. Property managers generally collect a fee, or percentage, each month to manage properties. They handle finding tenants, qualifying them, any/all repairs if any arise, and rent collection. Potentially expensive, especially if your gross monthly rent doesn’t cover your mortgage each month, but will offer the smallest headache for being a landlord.
Just remember – the best tenants are the ones you never hear from. Take time to get the property ready for tenants before they occupy, qualify them to make sure they’ll be responsible, and hope and pray you get paid on time each month. If you want help with any of that, email or call me!
So you’ve thought about it and decided this might the year you get ready to buy a house, or sell the one you currently own. Maybe you’re not ready today, maybe you’re thinking 6 months from now…but how soon is too soon to call a Realtor to talk about it?
Those of you thinking about buying:
When: Within a year.
Why: The market changes. There are always changing parts of the real estate process, whether it’s changes in mortgages (like down payment amounts) or the market in general, so what I tell you now, may be different in 12-18 months. It’s better to get an idea of the process, the cash you’ll need, and what your expectations should be now, so you have time to get your ducks in a row when it’s time to make a move. Prices may change, maybe not drastically, but things change year to year. Interest rates may go up or down, increasing or decreasing your buying power, etc. There are a TON of factors that play into how much you can afford and/or how much you’re willing to spend…my belief is that it’s better to get more info up front than less.
Those of you thinking about selling:
When: 6 months to a Year
Why: Depending on what waits for you on the other side of the sale, there may be a “game plan” you haven’t considered prior to meeting with an agent. The real estate market has seasons, so unless you need to move right NOW, it may or may not be more advantageous to wait to a certain time to sell. There may also be some repairs or changes you can make to increase value and saleability that may take some time (think purging, declutter, paint, etc.)
In general, it’s better to open the lines of communication early. Find out what you need to do to make the process go smoother, and more on your timeline.
Last month Arlington real estate prices were up 3% from April 2009; May activity shows another increase from last year. Overall, the Arlington condo market is up 1% in average net sale price, while townhouses increased 4% and single-family detached properties increased 5%. Days on the market decreased for all markets: 30% for condos, 26% for townhomes, and over 63% for detached properties. Of the 282 sales in May, 12 were short sales and 11 were bank-owned properties, making just over 8% of the market “distressed.”
Selling at higher prices faster? True for most of Northern Virginia, especially Arlington County.
Average Net Sale Price and Average Days on the Market
Single Family, Detached Properties
North Arlington: $796,977 om 37 days (Range: $470,000 – $1,665,000)
South Arlington: $599,849 in 34 days (Range: $314,594 – $890,000)
Townhouse
North Arlington: $723,819 in 42 days (Range: $365,000 – $1,128,500)
South Arlington: $381,468 in 25 days (Range: $175,000 – $760,000)
1 Bedroom Condos
North Arlington: $320,127 in 39 days (Range: $190,800 – $428,000)
South Arlington: $217,121 in 71 days (Range: $78,000 – $325,000)
1 Bedroom + Den Condos
North Arlington: $410,038 in 56 days (Range: $303,900 – $516,500)
South Arlington: $264,423 in 39 days (Range: $120,045 – $419,250)
2 Bedroom Condos
North Arlington: $537,430 in 45 days (Range: $234,305 – $971,485)
South Arlington: $370,043 in 108 days (Range: $274,900 – $505,000)
Again, these are all averages – they don’t account for age, upgrade, size, location, etc etc. For a more accurate depiction of your property value, find out what your Arlington home is worth!
So many people struggle with the decision of whether it’s the right time to buy a home or keep on renting. You hear people telling you you’re throwing money away by renting, or taking a huge risk by buying with all the foreclosures out there. So how do you make sense of all of the information to determine whether it’s the right time for YOU to buy or rent? Let’s assess a few items:
1. Are you ready to be a homeowner? When something breaks, you’ll have to call someone to come fix it and pay for it. No landlord. How about maintaining the property – annual termite treatments, changing your HVAC filter every 1-3 months, annual HVAC service, etc.? If you said yes, continue on to #2.
2. How long do you see yourself staying in the property? If it’s at least 2 years, you’re may be eligible for capital gains exemptions (Disclosure: I am NOT a CPA nor do I play one on TV. Please consult one for more accurate tax advice. End required legal disclaimer.) That being said, if you stay less than 2 years, you’ll most likely lose money just on commissions and transfer taxes alone. You can always consider the possibility of renting it out if you have to move unexpectedly.
3. Is it cheaper to rent or buy!? The heart of the matter. As an example, take a look at typical rents around Arlington for a newer 1 bedroom condo:
Ballston: $1,800
Clarendon: $2,050
Rosslyn: $1,850
Crystal City: $1,700
Shirlington Area: $1,370
Fairlington Area: $1,350
Now look at average sale prices for a 1 bedroom in the same areas:
Ballston: $367,000
Clarendon: $385,000
Rosslyn: $355,750
Crystal City: $328,310
Shirlington Area: $275,000
Fairlington Area: $285,000
Let’s Compare the Clarendon Example Using the NYTimes.com Rent v. Buy Calculator
Assuming an average annual appreciation rate of 4%, the national average, and the minimum FHA down payment of 3.5%, you can see it’s better to buy if you plan on staying there for at least 3 years.
I encourage you to play with the calculator using the numbers above to see if you’re surprised at where your potential break-even point is. Obviously average sale prices and average rents are just price points to be used for comparison, but there are cheaper places to rent/buy and more expensive places to rent/buy, it all depends on what is right for you!
Also, I used 1 bedroom condos as examples. If you’re interested in more details about larger condo units, townhomes, or houses, i’m happy to provide that information for you. Just ask!
Need help figuring it out? Let’s talk.
Sheridan Square is a small 10-unit townhouse community located between 6849-6861 Washington Blvd, Arlington, VA 22213, near the East Falls Church Metro. Units were built in 1986, feature 1-car garages and fireplaces.
