From our home to yours…Happy Holidays and Merry Christmas!
At this time of year we would be remiss if we did not say thank you for your business, your calls, your referral of friends and family and most of all your friendship. I have never felt for one day I was going off to ‘work’. It has been a privilege to work and live in a community I adore. I am grateful every day for the support we have received from the community for now over 50 years. Thank you for inviting us into your homes and entrusting us to work with you, your children and now grandchildren, neighbors and friends. Merry Christmas and Happy New Year! Jon Querolo and...
Read MoreOur Fall 2017 All Reston Real Estate update is out…
Reston Real Estate Market Update Fall 2017 I hope you had a great summer! Here is a brief look at the Reston real estate market. We continue to benefit from low interest rates and low inventory of homes for sale. The inventory in all categories – detached homes, townhomes and condominiums – has been unchanged from the past year. For sale – There are currently 279 homes for sale in Reston. Breakdown is as follows: 63 detached homes with an average list price of $777,312; 80 townhouses with an ALP of $516,241; and 136 condominiums with an ALP of $443,918. Sales – Reston home sales are strong and running at a slightly higher pace than last year. For the third quarter we sold 342 homes vs 332 last year. The average sales price was unchanged compared to one year ago – $453,281 vs $453,921 (2016). The average seller got 99% of their asking price. I have remarked before that Reston is not an inexpensive place to live, never was, never will be. We have yet to see a noticeable jump/increase in sales prices due to metro coming to town. I do think most of it was already factored in to the prices BEFORE metro arrived. The inventory of detached homes and townhomes continues to remain low with properties in nice shape and updated selling in the first few weeks, some with multiple offers. Condos are in plentiful supply with lots for sale…and, little selling at Reston Town Center. We are not sure if the paid parking fiasco has affected sales but from a visitor (and PR) perspective activity and retail/restaurant sales would appear to be negatively affected. For most current Reston real estate market conditions click here – Reston Market update Interest rates – Continue to be very attractive and currently below 4% for thirty year fixed; fifteen year fixed available in the low 3’s. Interest rates have been at near record lows for so long we take for granted how good they are. We have been told for several years, they have to go up; we are still waiting to see if they do. The stock market continues to defy the odds and is at record highs. If you have children of home buying age talk to them about buying ‘something’ to get a foot in the market. Young and/or first time home buyers should buy something/anything they can afford; it may not be their dream or ‘forever’ home but they can purchase with a minimal down payment, enjoy it for several years and if the stars align sell it and move to something else in several years or better yet keep it and start building equity with a real estate rental portfolio. Refinancing? Curious if it works for you…call for a reference on a good loan officer. What’s new/what’s going on – Our first new construction in years of homes for sale is here! Sunrise Square is a cluster of 34 luxury townhouses – four levels, two car garages, rooftop decks + elevator options. Location is quite good, short walk to Reston Town Center and will be accessible to metro when the town center station opens in a few years. From $860,000 to $950,000. This is the site of the old American Press Institute building on Sunrise Valley Drive. The API building by acclaimed 20th Century architect Marcel Breuer was demolished to make way for the redevelopment (much to the dismay of many). Coopers Hawk Winery and Restaurant has opened over by Target and the YMCA on Sunset Hills. Great food and spirits and staff is...
Read MoreJust listed in Bentana Park – 2 BRS/2Baths at $235,000!
This is the most sought after floor plan in sought after Bentana Park – two BRs + two full baths! Top floor location backing to woods. Huge rooms thru-out + 10 foot ceilings in living room. Superb brick construction and concrete floors between units. Condo fee covers all utilities. Short walk to Wiehle Ave metro, minutes to Reston TC and Lake Anne for shops, farmers market and more. click here for tour and info
Read MoreReston (again) named one of the best places to live in US…call us for all your real estate needs…happily serving the Reston community for over 50 years…
Another great reason we call Reston home…” Of the three Virginia communities on this year’s list, Reston ranked the highest. It is just above nearby Ashburn, which placed at No. 30; and Midlothian, located near Richmond in Chesterfield County, at No. 49. Reston is also the highest-ranked community in the DC Metro, with the area’s only other nod coming for Rockville at No. 39…” MONEY Magazine Reston Once Again Recognized by Money Magazine as a Top Place To Live in...
Read More
Jon Querolo (pronounced: core-elle-o) provides clients with unparalleled real estate knowledge and experience. 