Fall 2014 Reston Real Estate Market Update

Posted by on Sep 29, 2014 in Uncategorized

Reston Real Estate market update                                                                        Fall 2014  I hope you had a great summer! Lots of exciting things are happening in our town. First, the Silver Line Metro opened for business. This will be a great amenity to already thriving Reston, the town center, local business districts and residents of the surrounding area(s).   I have checked out the traffic situation for the past month at many different times of day and so far the concerns of massive traffic backups and delays don’t appear to be the case.   The Avant at Reston Town Center, the first new construction in Reston in years, opened to tenants – the building and amenities are stunning! Ted’s Bulletin and World of Beer both opened at the town center to great reviews – World of Beer offers live entertainment too!   Meanwhile Lake Anne Center continues to struggle and saw the closing of two long time businesses – Jasmine Café shut its doors unexpectedly and the Lakeside Pharmacy, owned by Larry Cohn, sold its building and the business has been liquidated.   Larry was an all-around great human being, friend to all and fixture on the plaza for 40 years.  What’s new? As I write this, the Harrison @ Reston Town Center – twin towers going up on Reston Parkway on the old Parc Reston condo site – is coming along quickly. They are rental buildings and are currently pre-leasing from a showroom across the street.   There are two pending re-zonings underway – first on the surface parking lot at the town center fronting Reston Parkway (the only surface parking left at the town center) and also a rezoning to demolish what you would know as the FedEx building and replace it with a tower of some sort – most likely business and not residential. The Planning Commission hearing for the redevelopment of Crescent Apartments (Lake Anne) scheduled for November 5th has been indefinitely deferred (not sure what that means).  No word/all is quiet on the future of the Reston National Golf Course and also the plans to redevelop the Spectrum strip shopping centers (Lerner Corporation) at the town center…both generate lots of calls to my office.  For sale There are currently 302 homes for sale in Reston (up significantly from recent years). Breaks down as: 70 detached homes with an average list price of $758,241; 106 townhouses w/ an ALP of $480,000; and 126 condominiums w/ an ALP of $390,000. While 302 homes for sale is up from the last few years this is still a manageable number when compared with an inventory from 600 to 800 units in the early 2000 years.  Of note: Total sales for January thru end of September 2014 were 732 units vs. 852 last year down about 16% (120 units). Days to sell are running about 30 days and the average seller continues to receive almost 98.5% of their asking price.  While the number of sales was down, the average sales prices were up in all categories over the previous year – ASP for a detached home was $717,000 ($680,000 last year), townhomes was $449,000 ($427,000 in 2013) and $348,000 for condos ($340,000 in 2013).  As Reston’s housing stock continues to age it is important as a homeowner that you invest in and continue to improve your property. Reston has become an expensive place to live and just this month was again voted one of the top 10 places to live in the US by Money Magazine. But, with that said, most of our housing is the late 60s to mid-90s vintage. Buyers going to eastern Loudoun County have...

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Reston, Virginia – A Great Suburban Location

Posted by on Feb 19, 2012 in Uncategorized

Reston, Virginia is a planned community that was designed with its residents in mind. This makes it a great suburban location with a strong real estate market. How does it feel to live in Reston? Many residents, especially tho buy cialis se who come from neighboring Richmond, feel that Reston is a true suburban location. And they like it. They especially appreciate that viagra price in Reston you can walk or bike to basically any important location in the area. That’s a feat that few other American communities with 50,000+ residents can boast. Where is the heart of Reston? Reston Town Center is generally regarded as the heart of the town. The center doesn’t feel that much like a downtown because of its open spaces. It’s more like a plaza. It’s around this center that you’ll find Reston townhouses, which are an important aspect of the local real estate market. Many of the notable houses for sale in Reston are in fact the splendid townhouses in the proximity of the town center. Is Reston safe? While no town with 50,000+ citizens can ever be considered perfectly safe, Reston is generally cheap viagra regarded as a safe location, with crime and theft rates lower than in neighboring areas. One of the great things about Reston is that there are no dangerous places that you must definitely avoid. The town is safe all-round. Is it hard to buy or rent Renton properties? Not at all. The Renton properties are appealing and come in a variety of forms, from splendid townhouses to accessible condos. There is always a fair selection of properties for sale, and Renton realtors can help you find the best deal for your money. And if you need some more help, there are also Renton property management services. What about selling Renton properties? Renton sees each year a fair share of relocations, usually people coming from neighboring areas, attracted by the local convenience of the town and its surrounding areas. And there’s always a lot of movement among existing residents who trade or exchange properties, both condos and houses. As a resident, you can expect to list your Renton property with a realtor and have it rented or sold in a matter of weeks or months, depending on the state of the local real estate market. Whether you want to buy, rent, or sell property in Reston, a local realtor can help...

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6 Amersham Court Sterling, VA

Posted by on Aug 16, 2011 in Uncategorized

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2233 Lovedale Lane #412A Reston, VA

Posted by on Jul 15, 2011 in Uncategorized

Top floor PH in sought-after Bristol House! Almost 1500 square feet in move-in condition in the BEST LOCATION in the community – backing to online pharmacy trees. Two bedrooms with loft – new/replaced heat pump, new roof/skylights, newer disposal, water heater, wash generic cialis er and dryer PLUS new windows and SGD in 2003. Long term owner has maintained, upgraded and loved this home. Great community/close to everything! Virtual...

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1641 Parkcrest Circle Reston, VA

Posted by on Jun 14, 2011 in Uncategorized

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