Update: This home sold in December 2011

Attractive Fairfax Virginia Colonial

New on the Fairfax Virginia real estate market October 26th. Yes, this home is in excellent condition and ready for you to move into quickly!

• 4 upstairs bedroom
• 3 full baths upstairs
• Large gourmet kitchen
• Home office with glass french doors & transom
• Dramatic family room
• Mud room
• 2 gas fireplaces
• Bedroom level laundry room
• Freshly painted, gleaming oak hardwood floors, and new carpet
• Almost 5,000 square feet on two levels
• Large unfinished basement, walk-up stairs
• Two car garage

A classic brick front colonial that will impress you the moment you arrive. The oak hardwood were just refinished a really shine, plus the painters just finished up and the house really pops. (By the way, that’s Benjamin Moore’s Sandy Hook Gray).

Minutes from Fair Lakes, Fair Oaks Hospital, George Mason University, Wegmans, Movie Theaters and great shopping!

View Larger Map

If you want to see about 100 photos then take a look at my “working” pics here.

Your Realtor can show you this property any time, or call Listing Agent Doug Francis now @ 703-304-6827 to make an appointment.

Asking $775,000

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Yes, graded 1 to 10

Are home buyers obsessed with school ratings on real estate web sites?

In 2011 they are!

Most real estate sites now have data on local schools and show ratings from 1-10 on the overall performance (test results) and then give summaries and some parent comments on actual experiences. Take a look at the FranklyMLS site links or Redfin pages for information from GreatSchools.org (which does seem to have plenty of advertising).

Living in Vienna Virginia, my personal experience has been with Fairfax Schools but some of my clients have had children go to Arlington Schools, Falls Church City Schools and Alexandria City Schools with really great results.

If you really want to do your “due diligence” on a particular school so that you can be truly confident that you are buying a home in the best possible neighborhood, then please use these ratings as guides and then check out the school yourself. Fairfax Schools all have web sites now (as every school must have these days) so go and check them out. Investigate the PTA link which probably has after school info or planned events for the year.

Here are my home buyer tips regarding schools:

• Check out the individual school web sites
• Drive by the schools and look at the buildings and location,
• Give a call to the office, and then set up an appointment with the Principal (only 15 minutes)
• Look at PTA activities and events planned on their web site (if they have one)
• Pick out two or three schools and then focus your home search on those communities

So plan to do a little more work than just requiring that the school must have an 8 or above rating because your experience will only be as good as your involvement in your child’s experience.

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This three level condo has just been repainted and re carpeted so it is super clean and ready for you. Plenty of natural light filters into this home. It is a very open floor-plan on the main level with a kitchen that overlooks the living room and dining space. Set up the furniture so you can enjoy the gas fireplace while watching TV or working on your laptop.

There are two bedrooms upstairs each with walk-in closets. Updated light fixtures, ceiling fans, two baths make this seem much more like a townhouse than a typical co

ndo. It is a must see, and you should check out the pictures on the Google Picassa site now and use the slide show option.

See all the photos right now

Impressive gated community with an on-site manager. There is a pool, full exercise room, and a clubhouse which you can use to have gatherings or watch an event on the 50″ flat screen TV. Located in Fair Lakes just minutes from Whole Foods, Best Buy, a dozen fun restaurants and plenty of shopping.

Your REALTOR can show you this property, or call Doug Francis now@ 703-304-6827  to make an appointment. Listed at $259,900

How did you get here? Using this?

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And if there is something that needs adding, then please speak up by adding a comment and I will probably add a little more. A number of my clients met me here, so read through and then meet me.

1.So what is “Northern Virginia”? Northern Virginia includes Arlington, Fairfax, Loudoun and Prince William Counties. The City of Alexandria, City of Falls Church, City of Fairfax, Manassas City, Manassas Park, Town of Clifton, Town of Vienna and Town of Herndon are included.  Some significant areas are Ballston, McLean, Reston, Tysons Corner, Occoquan and yes, The Pentagon.

2.Traffic is a common topic of discussion. “Rush hours” consume about eight hours of every day, which is to be expected in an area with two million people. Some highways have HOV restrictions meaning you need 2+ people in the car. There is a toll road from the Beltway (495) out to Leesburg (Route 267) and a pay-per-mile highway under construction within 495.Read more at Virginia Megaprojects (no joke). But know that there are many options including the George Washington Parkway along the Potomac River.

3.Education is a high priority. The Public School systems in Northern Virginia are recognized nationally for achievement and graduation rate. There are many private schools with excellent reputations too. There are four-year Universities like George Mason and Marymount, the Northern Virginia center for UVA and Virginia Tech in Falls Church, and programs at Northern Virginia Community College. It is also easy to reach other institutions in DC like Georgetown University or in Maryland, the University of Maryland. Overall, the area has a high percentage of residents with college and advanced degrees.

4. We demand a lot from our sport teams. The Washington Redskins play in Maryland, but their football training facility is in Ashburn, VA. The Washington Capitals play in D.C. at the Verizon Center (aka the Phone Booth) but practice at their hockey facility in Ballston. The Washington Wizards are our NBA team, and our MLS soccer team is D.C. United which plays at RFK Stadium in D.C. The newest team is the Washington Nationals MLB baseball team which plays in D.C.

5. Politics. It’s an easy photo-op for the White House, so expected to bump into a motorcade (or Congressman).

6. Northern Virginia’s population is very diverse. Since D.C. is an international destination, many immigrants have selected to move here thanks to a robust job market, excellent universities, the World Bank and easy access to flights “back home”. Virtually every nationality is represented.  Other benefits of this immigration are the multitude of authentic restaurants, grocery stores, bakeries, and cultural events.

7.There is plenty of  U. S. history to see. You can start along the Potomac River at Mt. Vernon in Alexandria to the Manassas National Battlefields. Did I mention that Northern Virginia is across the Potomac River from Washington, DC? There is also a Smithsonian Air and Space Museum next to Dulles Airport.

8.We have two major airports. Dulles International Airport offers direct flights around the world by virtually every international airline, and is a major United Airlines domestic hub. Reagan National Airport offers domestic flights and is the most accessible to D.C.

9.Public transportation systems continue to expand. The Metrorail System sends the Orange Line through Arlington out to Vienna, and the Yellow and Blue Lines to Reagan National Airport then to Alexandria and Springfield. Metro Bus, DASH, ART, Fairfax Connector and CUE Bus run through the counties. The “Silver Line” to Reston through Tysons Corner is under construction in 2012 with a late 2013 finish date. Virginia Rail Express (VRE) is an option from Fredericksburg or Manassas. Amtrak makes a stops in Alexandria and the AutoTrain in Lorton. (Union Station in DC is where the Northeast Corridor service begins).

10. We love being outdoors. The climate is excellent for people who like to garden or landscape, and for bike riders, runners and hikers. The W&OD bike trail runs for 45 miles from Arlington to Leesburg along an old rail line turned path which is heavily used by runners, bikers and walkers. Great Falls National Park in Virginia and C&O Canal National Park offer hiking along the Potomac River. There are also sports teams for any sport and age group imaginable. Wolftrap National Park for the Performing Arts in Vienna is a perfect outdoor venue to see theater, concerts or the symphony.

11. Northern Virginia is famous for shopping. It may not seem exciting to everyone, but we have plenty of grocery stores including Whole Foods, Trader Joe’s, and Wegman’s, but there are plenty of weekend farmers’ markets, and roadside markets like Cox Farms. Tyson’s Corner is a regional super-shopping district with everything from L.L. Bean, Nordstrom and Neiman Marcus. There is simply too much to mention. There are excellent restaurants and hotels.

12. We experience all four seasons of the year. Winter usually features a cold snap when temperatures can be in the teens. There may be a foot of snow, total, for the season. There are many days when ice covers the roads (a traffic nightmare), and there may be a 20+” snowstorm every few years (2010 was an exception with three). Spring starts in March (cherry blossoms) and runs through June (70°’s and 80°’s). Summer begins July 1 and it can be hot (90°+) and very humid through mid-September. Fall begins in October with brilliant displays from our tall Oak and Maple trees.

13. Northern Virginia isn’t just Federal Government workers. Yes, there are plenty of Feds, but the economy is much more diversified than once was as many corporations have based themselves here thanks to a Virginia’s favorable business climate. hospitals, accounting firms, telecommunications, technology, Internet, hospitality, automotive, association industry, retail, real estate, defense and government contractors and many more.

Did I miss anything?

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UPDATED for 2011

If you live in the Town of Vienna, VA or anywhere in Fairfax County, then you will be paying a $33 per vehicle license tax in 2010. Motorcycles will be $18. Residents should be getting these bills sometime during November, 2011.

Don’t miss the payment deadline, there is a $25 penalty fee!

Town of Vienna Residents Click Here Now

Sorry, you won’t get a vehicle decal…

Residents used to pay an annual “decal fee” until 2008 when it was abolished. The reinstatement of this tax in 2010, due to the economic downturn, is to generate revenue for Fairfax County. But, since Vienna is a town, the tax proceeds that Fairfax County has imposed are allowed to be collected by the Town of Vienna and applied to its own budget shortfall.

The 2011 Real Estate tax rate was announced in June.

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UPDATE: OFF THE MARKET

A nice corner unit Fairfax condo (2005) that gets plenty of sun and backs to trees so it has plenty of privacy. The “Oliver” model. A new listing on June 11, 2010 has two bedrooms, two baths, a granite and stainless steel kitchen, and lots of storage space. It also features and oversize garage, and two deeded parking spaces.

The total square footage according to Fairfax County Tax records is 1,192 and has a balcony that has 145 square feet. Priced at $299,999.

Not a short sale or foreclosure

Minutes to restaurants, shopping and the movies at Fairfax Corner… and a two minute drive to Wegmans!

The community also features a pool with plenty of tables, umbrellas and chaise lounges. There is also a separate baby pool baby pool. In the club house, there is a up to date work out room that has Life Fitness treadmills, universal gym, TV and more. The club house has a nice function room.

The home is on lockbox for REALTORS, or you can call Doug Francis, REALTOR, for a private showing @ 703-304-6827.

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Image via Wikipedia

Fairfax County, Virginia has announced the new property tax rate for the 2010-2011 fiscal year.

Real Estate:

It shall be $1.09 per every $100 of assessed value.

In Fairfax County, VA, home owners pay their real estate taxes twice a year,  July 28th and on December 5th.

If you have questions about your assessment, how to pay your bill, or wonder how the county determines value then check the Fairfax County Tax Web Site.

Home Bought and Sold June 2010

Gorgeous oak hardwood floors on the entire main level, a finished walk-out basement with a fifth bedroom, huge rec room, work room and plenty of storage.   The master bedroom has a sitting area, two walk-in closets, a luxury bath with a soaking tub and separate shower.

Oversized Dining Room

Gourmet kitchen of granite counters and maple cabinets, two gas fireplaces, side load garage, main level laundry, dual zone gas heating and central cooling…

A two level deck is perfect for entertaining and overlooks the yard and woods. Yes, there is a full size hot tub on the lower deck!

See more photos right now on Google Picasa. Use the slide show option.

The home is on lockbox for REALTORS, or you can call Doug Francis, REALTOR, for a private showing @ 703-304-6827 Listed @ $875,000 and Sold @ $875,000!

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… look at the interior photos! This home is not asking a 3rd party for approval! Not a foreclosure either… super clean and ready to settle by the end of the year!

Mint condition town home located close to Fair Oaks, Fairfax, and some of the best shopping on the East Coast including Wegman’s, Whole Foods, REI, Costco, Target and the Merrifield Garden Center. Walk to an almost new Fairfax County Elementary School (Eagle View), Fairfax County parks and walking trails and so much more.

3 level, rear load two-car garage, almost new condition. 3 bedrooms, 2 full and 2 half baths

All ready to close quickly. But we need to set up a time to see it this weekend… 703-304-6827.

Equal Housing Opportunity!

View Larger Map and settl

Original Post:

This is a post of special interest to many of us in the Washington D.C. metropolitan area. I was in a NVAR Finance Forum meeting discussing the Economic Summit and Sweth started to talk about the upcoming expiration of the current $ 729,750 conforming loan limit on December 1st and how it may impact the health of the Northern Virginia real estate market.

So I decided to invite him to tell the story… enjoy!

by: Sweth Chandramouli, an Alexandria, VA mortgage broker, blogger and yet another former retired high-tech guy now with Ethical Homes.com

Conforming loan limits in the metro DC area may be changing significantly in coming months, potentially dropping by nearly half by the end of the year.

The Housing and Economic Recovery Act of 2008 (HERA) increased the conforming mortgage loan limit to $417k, and also created “high-balance” conforming loans in high cost areas, which would have rates that were slightly worse than “regular” conforming loans but still better than traditional “jumbo” mortgages. The high-balance limits were based on median sales prices in those high-cost areas, and for the metro DC area, the limit for 2009 was set at $625,500. In February 2009, Congress passed the American Recovery and Reinvestment Act of 2009 (ARRA, aka the economic stimulus bill of 2009), which temporarily increased the limit for high-cost areas such as DC to $729,750.

The ARRA limits expire on 12/1/09, however, at which point the limit for the DC area will drop back down to the HERA limit of $625,500. (12/1/09 is also the deadline for first-time home buyers to take advantage of the $8000 tax credit, so first-time buyers who need loans in the $626k-$729k range should be especially motivated to close their purchases by December 1st.)

That change will affect many people in the DC area, but far more widespread will be the change that will probably occur on January 1, 2010. HERA resets the conforming and high-balance limits each January according to a specific formula; that formula does not allow the basic conforming limit to decrease from year to year, but it does allow the high-balance limit to decrease or vanish entirely, and based on current calculations, that’s exactly what will happen in most parts of the U.S., including the metro DC area–on January 1st, barring any new stimulus bills passed by Congress between now and then, any loan in the DC area above $417k will probably be treated as a “jumbo” loan with significantly higher rates and tighter qualifying requirements.

We’re going to be monitoring this situation closely, and have contacts at Fannie Mae, Freddie Mac, and in Congress who are trying to get more information on whether there are in fact any plans to enact another temporary stimulus bill that would increase the limit for 2010, but for now, borrowers should assume that the high-balance loan limit in the DC area will drop to $625,500 on 12/1/09, and go away entirely on 1/1/10.

For the detail-oriented people out there:

• HERA sets the high-balance limit at the lesser of 115% of the median MSA sales price (as published by FHFA each October) or $625,500, which means that all MSAs w/ median sales prices above $544k are capped at $625,500, and all MSAs w/ median sales prices below $363k are not considered high-cost and are capped at the regular conforming limit (currently $417k). In October 2008, FHFA’s published median MSA sales price for the DC MSA was more than $544k, so the limit for 2009 was $625,500.
• The exact FHFA numbers for 2010 won’t be published until October 2009. NAR does publish very similar statistics, however, and based on NAR’s numbers for the last quarter, as well as FHFA’s own HPI numbers, most MSAs (including DC) will have median sales prices below $363k, which is why we are assuming that high-balance loans will effectively be eliminated as of 1/1/2010.
• The exact history of high-balance conforming limits in the last few years is actually more even more complicated. In Feb 2008, Congress passed the Economic Stimulus Act of 2008, which raised the conforming limit to $729,750 in the highest-cost areas, but which expired on 1/1/2009. Also, Fannie Mae, Freddie Mac, and the lenders that work with them took some time to implement the changes in ARRA 2009, during which time the practical limit was still the HERA limit of $625,500. So the high-balance limits in the highest-cost areas such as DC were $729,750 from 2/2008-1/2009, $625,500 from 1/2009-2/2009, then legally $729,750 but still practically $625,500 from 2/2009-4/2009, and then $729,750 from 4/2009 to the present. Expect a similar series of confusing changes in late 2009 and early 2010, especially if new legislation is passed to change the limits yet again.