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.
Now that the USA has won their group (Go USA!), it’s time to get serious about where to get your World Cup fix. Here’s my Top 10 Places to Watch the World Cup (in no particular order):
1. Mister Days (Clarendon)
2. Bailey’s Pub & Grille (Ballston or Crystal City)
3. Carpool (Ballston/VA Square)
4. Rhodeside Grill (Courthouse)
5. Velocity Five (Courthouse)
6. Summer’s Restaurant (Courthouse)
7. P. Brennan’s (Columbia Pike)
8. Hard Times (Clarendon)
9. Crystal City Sports Pub (Crystal City)
10. Champps (Pentagon City)
Did I miss anywhere? Let me know!
Beginning today through July 28th, every Wednesday Evening at 1611 N Kent Street, Arlington, VA 22209 you’ll find people dancing to live Salsa and Swing Bands and you’ll have the opportunity for free dance lessons!
What: Dancing
Where: 1611 N. Kent Street
When: 6 pm – 8pm from 6/2 – 7/28
More info: Rosslyn Party at the Plaza Calendar
A small townhouse community of about 20 units, located on the 1900 block of N Woodley St, Arlington, VA 22207 – near the intersection of Rt 29 (Lee Hwy) and N Glebe Rd. Units were built in 1974, feature a 1-car garage and driveway. There are no amenities to the community, but it is located just over 1 mile from the Ballston metro.
Search Richard R Bassett Townhomes for Sale
A few weeks ago I wrote a post on FHA Financing and Condos: What You Need to Know when the new FHA regulations came about for financing condo buildings that were not previously approved. The new regulations have a long laundry list of requirements that a building must meet before the FHA and HUD will give their blessing. While we’ve been doing “spot approvals” on the Residences at Station Square Condominium (located at 1201 N Garfield Street, 1205 N Garfield Street, and 1220 N Fillmore Street, Arlington, VA 22201) for years, the building had NOT been fully approved or placed on the FHA approved list…until now.
I’m proud to announce that as of March 26, 2010, the Residences at Station Square Condominium are now FHA approved!
Thanks to the hard work of Dominic Turano at Wells Fargo and the patience of my buyers and the sellers, we’ve been able to get the building approved in just 5 short (but long) weeks!
For a complete list of the local FHA approved condo projects, check the HUD website.
February was a another strong month for the real estate market in Arlington. Average sales price is up about 3.5%, units sold is up almost 50%, and days on the market is down about 33%. The other number that’s down? Inventory. We’re at about 87% of the inventory in 2009, and 85% of 2008. Of the 135 sales (excluding the Retirement communities), 7 were short sales, and 7 were foreclosures.
Here’s the breakdown for the month:
Single Family, Detached Homes
North: $739,626 after 58 days (range: $515,000 – $1,400,000)
South: $465,433 after 48 days (range: $275,000 – $975,000)
Townhomes
North: $651,400 after 53 days (range: $462,000 – $820,000)
South: $398,403 after 43 days (range: $188,000 – $735,000)
1 Bedroom Condos
North: $338,757 after 75 days
South: $258,562 after 28 days
1 Bedroom with Den Condos
North: $389,563 after 51 days
South: $281,000 after 45 days
2 Bedroom Condos
North: $509,390 after 31 days
South: $385,000 after 64 days
Thinking about buying? Search Arlington Homes For Sale Here
The National Association of Realtors (NAR) does an annual survey of buyers and sellers. Their most recent profile, the 2009 Profile of Buyers and Sellers, says the 90% of buyers used the Internet in their home search. Of that 90%, 84% said that photos were the MOST useful/valued feature of a website.
84% looked at the photos and decided whether to go see that property
84%!!!!!!! Think of all those properties on the market right now that don’t have any photos…you’re missing a HUGE portion of the buyer pool out there from sheer laziness. Here’s what I find the most common reaction to a property listed for sale that does not include photos:
1. What’s wrong with it?
2. What are they hiding?
3. We didn’t even look at the listing because there were no photos
Your house isn’t even in the running if there are no photos! People will immediately click on the next property because there was nothing that grabbed their attention.
Our local Multiple Listing Service (this is the National database with properties listed for sale, otherwise known as the MLS) is called MRIS. As Realtors(R) we can upload up to 30 pictures per house, plus a virtual tour. That means interior, exterior, neighborhood, amenities, floorplans, etc. Anything that will help SELL your house!
Seems like common sense, huh? You’d be surprised at how many properties don’t have photos. Something so simple, yet so huge! That’s my trick for the day 
As an example, check out the recent photos from my new listing in Arlington: The Weldon, Unit 205.
So strictly speaking for Arlington County (the answer will differ for Montgomery County and the District), let’s talk about whether condos always have parking and/or storage units.
In Arlington, it’s very common for units to come with 1 parking space deeded to the purchaser. At some point all of these condo buildings were brand new and the builder decided whether the units would be sold with parking, or if parking would be an additional cost. In *most* cases for mid to high-rise condo buildings that have garage parking, most units have at least 1 spot. Some units that are being sold with 2 parking spaces paid an additional $30-$40k per spot. There are SOME units that do not have ANY parking available, so it’s important to be mindful of that when looking at units. Sometimes there are spots available to rent or buy from individual owners, but you’ll have to pay that in addition to your mortgage amount.
Now some condo buildings that have parking lots, rather than an underground garage parking, have either assigned spots or open parking. Usually permit required parking.
Storage units however are a different story. Generally speaking, storage units were almost always an additional cost because few were built. This is where I get to show off my Economics Degree – supply was low, and demand is high…do we need a chart? No, I didn’t think so either. Usually storage units go for about $5k, but they can vary on size. They tend to be 5×5 spaces of chain link and a lock. Good for random junk you don’t want in your condo.
Both of these things effect pricing so keep that in mind when evaluating different units.
There are several townhouse communities located nearby, but there are only 2 condo buildings located within a half mile from the East Falls Church metro with an Arlington mailing address.
1. The Westlee
2. Falls Station
I normally don’t do things like this, but these stats are too incredible to keep to myself:
Time on the Market for Homes For Sale in Arlington
Of the properties currently under contract:
15% sold in 4 days or less
20% sold in 7 days or less
45% sold in 30 days or less
59% sold in 60 days or less
Why is this too good not to share? Because for people who think the market is slow, or prices are too high, they need to see that things are SELLING. And selling fast! The 40% sitting for more than 60 days – 34% are short sales, 10% are foreclosures, and I would take a guess that the remainder were overpriced for the first 1-2 months they were on the market.
