Reston Real Estate Report

Just Listed and Coming Soon

Posted by on Jan 20, 2016 in Reston Real Estate Report

First time offered for sale in 50 years!  The original owners hired us to sell this iconic Charles M Goodman, AIA design in Reston’s historic Lake Anne Village.  This is a superb opportunity to create your dream home.  Best lot in the community overlooking pond, stream and acres of woods and parkland.  Three levels, four bedrooms, amazing master suite with huge rooftop terrace.  A terrific buy/investment for the buyer looking to do their own thing and build instant equity.  Original thru out, offered for sale at $350,000.

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Just listed!

Posted by on Jan 19, 2016 in Reston Real Estate Report

First time for sale in over 40 years!  Stunning views from this waterfront, iconic Whittlesey + Conklin, AIA design – the creators of Reston’s original master plan and historic Lake Anne Plaza.  Three finished levels, three large bedrooms, updated kitchen and baths, refinished gleaming wood floors.   Fabulous views from most rooms, two large balconies plus waterfront patio.  Walk to Lake Anne shops, restaurants and the farmer’s markets. 1696 Chimney House Road, Reston, VA 20190

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Winter 2016 All Reston Real Estate Update

Posted by on Jan 12, 2016 in Reston Real Estate Report

Happy New Year! Greetings! I hope you had a good holiday season and are looking forward to 2016! 2016 marks our 49th year serving the real estate needs of the Reston community. My mother, Norma, started with Jeffrey O Wellborn on Lake Anne Plaza back in 1967. It is a job we have always undertaken with passion, enthusiasm and the highest professional standards and ethics. To all my family, friends and clients who let me assist them in their real estate transactions – thank you. I had a great 2015 and am looking forward to a greater 2016. Of note: How about those Redskins? NFC East Champions! And the gas prices… falling like the stock market – under $2.00 a gallon all over town as I write this. The redevelopment of the Sheraton International Center property is coming along quickly; all low rise buildings – except for Popeye’s Chicken which remains – are gone. The possible redevelopment of the Reston National Golf Course took another turn when developer RN Golf (partially owned by Northwest Mutual) filed suit to the Virginia Supreme Court to overturn the recent Circuit Court ruling which would have kept the golf course as open space…I am sure more is to follow. The big gasp and sigh heard around town late last year was the collapse of the Lake Anne redevelopment plan after three plus years of work and millions of dollars spent. Cathy Hudgins (and Fairfax County Board of Supervisors) bought the aged apartment complex for an eye numbing $48,500,000 in cash. As many knew, and predicted back then, the deal would never see the light of day. Impossible, farfetched goals and numbers and uncooperative players is the word. The best we can hope for is for Cathy and the county to cut its losses, sell the property and get out of the real estate development business and leave it to those who know how to do it. We are excited to tell you that on February 1st the Bob Simon Lake Anne Post office will open for business in the space formerly occupied by Lake Anne Florist in shared space with Chesapeake Chocolates (and next door to our offices on Lake Anne Plaza) – please stop in if over this way and say hello! With sadness we tell you that early Reston pioneer and community leader Priscilla Ames passed in early January. Priscilla and daughter Gwen were the first to meet us in the summer of 1965 – RIP Priscilla. Real estate wise 2015 was a pretty good year, better than 2014. Forecasts we read are for 2016 to be similar or possibly even better… SALES – Sales for the year were up 15% over last year (1174 units sold vs. 1024 in 2014). Breakdown is as follows – 245 detached homes (201 last year), 532 townhouses (vs. 465 in 2014) and 397 condominiums (vs. 358 one year ago). The average ‘days to sell’ was 43 days up from the average of 33 it took in 2014. Still a very decent stat as in many years the average home in Reston (and interestingly nationwide) took about three months to sell. Currently on the market – Traditionally January is a strong month for home sales. This year we will start with a lower inventory than last year. Currently there are 193 homes for sale in Reston vs. 210 last year at this time – 33 detached homes, 48 townhouses and 112 condos. They range in price from a low of $155,000 to the current high $1,549,000 (huge penthouse condo at RTC, almost 3,000 square feet)....

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Happy New Year!

Posted by on Jan 8, 2016 in Reston Real Estate Report

2016 marks our 49th year serving the real estate needs of the Reston community. It is a job we have always undertaken with passion, enthusiasm and the highest professional standards and ethics. To all my family, friends and clients who let me assist them in their real estate transactions – thank you. I had a great 2015 and am looking forward to a greater 2016.

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Fall 2015 All Reston Real Estate update

Posted by on Nov 18, 2015 in Reston Real Estate Report

Reston Real Estate Market Update                                                                                                                                                               Fall 2015 Greetings! Fall and football are in the air and the holidays are rapidly approaching. Here is a brief look at the Reston real estate market. Unlike the constant gyrations in the stock market, due to both national and international concerns, we continue to see increasing, strong sales AND low mortgage interest rates – the ‘perfect storm’ for real estate sales. Rates are expected to remain low for the short term future, then gradually increasing based on the Fed’s timing to increase their rates. What’s new/what’s going on – Brace yourself for lots of construction around town… here’s a brief primer on some of the pending redevelopments: Sheraton parcel/Reston Heights – adding a new six story residential building, a 15 story residential building, five story parking garage with residential on top and retail space, a ten story office building. 24 Hour Fitness will build a new facility where Chili’s used to be. Commerce Park (Wiehle and Sunrise Valley) – 500 new residential units, a hotel with 175 rooms, a new office building of 400,000 square feet – existing buildings remain. 1831 Wiehle Ave (Virginia Spine building) – demolished and 504 new residential units built. American Press Building (Sunrise Valley by the Sheraton) – to be replaced with 44 luxury, garage townhouses. I applaud the decision to take the dated building and replace with new low density housing walking distance to the future Metro station on Reston Parkway. Comstock Partners’ BLVD Apartments – the massive building at the Wiehle Metro station – should be moving new tenants in early next year (528 units). Long term local developer Charles Veatch and Bozzuto Group are under way on Reston Station Boulevard, next door to the station, that will bring an additional 421 units into the rental pool For sale – There are currently 349 homes for sale in Reston up from 302 one year ago. The current average list price is $481,818. Breaks down as: 71 detached homes with an average list price (ALP) of $763,470; 115 townhouses with an ALP of $471,466 and 115 condominiums with an ALP of $366,093 Of note – Reston home sales are very strong. For the first three quarters of the year we sold 903 homes vs 732 last year – an increase of almost 25%. Average sales price (ASP) for a detached home was $711,000; townhomes was $443,416 and $345,747 for condos. The average days on market/time to sell is (just) 39 days. Interest rates – Continue to be very attractive and in the low 4%’s for thirty year fixed; fifteen year fixed available in the low 3’s! Call for more details or a reference on a good loan officer. If you need help with real estate, call...

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One of our current projects/just listed!

Posted by on Oct 20, 2015 in Reston Real Estate Report

Charming four bedroom (all upstairs) end unit townhouse in a superb location walking distance to Reston Town Center!   Wood floors thru out, comfortable GAS heat, CAC and large wood burning fireplace in the living room.  Enclosed rear garden with deck.  A great buy for this size home and in this location – just minutes to Metro, Lake Anne and the golf course.   Commuter bus stops at the corner!

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