Archives March, 2011

Baseball is Back, So it’s Time to Take a Trip to Nationals Park

It may be cold, rainy and dreary this week, but summer is right around the corner. How can you tell?  Well, the official first rite of summer occurred just this afternoon.

Yes, baseball season started today with the Washington Nationals losing to the Atlanta Braves. Sure, it was 40 degrees and gloomy, but baseball is back, and that means warmer days and beautiful evenings at the ballpark are coming soon.

If you weren’t able to make it to opening day, don’t fret. Baseball has the longest regular season of any sport, with 82 homes games, and the cheapest tickets around.

The Nationals, because of years mired in mediocrity, almost never sell out their stadium. That means you can attend games for a great price.

The best way to go about buying tickets is to visit the website StubHub.com, and wait until the day of to purchase. The website is a ticket-exchange site where fans can buy and sell tickets, and as game time nears, prices drop drastically.

This morning four hours before the season’s first pitch, tickets in the upper deck at Nationals Park were on sale for 75 cents, with the ability to purchase up to 14 seats in a row.

If you don’t want to wait until the last minute, inexpensive tickets can still be purchased well in advance. For every home game the Nats have tickets between $5-15 available on their website. Either way, swoop some up and head over to Nats Town.

Nationals Park is located on South Capitol Street, just one mile from the Capitol Building in Southeast DC. The easiest way to get to the stadium is by taking Metro, and getting off at the Navy Yard stop on the Green Line.

Driving to the game is difficult with the stadium’s new location. Most parking around the stadium is in underground garages and can run upwards of $20 a space. The area around the stadium is unfortunately still a work in progress, with not many options for eating and drinking before or after a game. The team’s poor performance came at the same time as the recession and development in the area stalled. But that should change in the next few years. Not many people recall that when the Verizon Center opened 11 years ago, Chinatown was a neighborhood in transition. Now it’s a vibrant, thriving community.

That aside though, the stadium is still a wonderful place to visit. This is just the fourth year the stadium has be open and it’s retained the feel and shine of a new ballpark. The stadium was designed to be wide open, with unobstructed views throughout the ground-level concourse. That way, fans can still see the action while visiting concession stands. And for as mediocre as the team is, the stadium has a number of delightful treats to enjoy.

There are half-smokes from D.C. institution Ben’s Chili Bowl, but also chili cheese dogs from Hard Times Café, a local Virginia restaurant. The team has also added a new burger stand, Shake Shack, a New York-based chain, which is supposedly delicious.

But of course, all that’s secondary to the real treat, baseball, which we all get to enjoy for the next seven months.

-David

McLean/Tysons Corner, VA Market Report – 3/30/2011

February and early March have seen a downturn in the real estate market throughout much of Northern Virginia due to several factors, not the least being the colder than average winter weather. Tysons Corner, the shopping and employment center and unofficial downtown of Fairfax County did not escape this trend. Another major factor for the Tysons Corner area is the massive amount of road construction for the Beltway HOT lanes and the expansion of the Metro.

The number of units sold was approximately the same as the previous year but the average sales price was down more than $90,000.

2011 2010
Units Sold 30 33
Avg. Sold Price $626,628 $720,651
Avg. Days on Market 100 52
Active Listings 154 207
Pending Contracts 75 84

Hopefully, since the calendar indicates the arrival of spring, we will have improved weather conditions but the road construction issue will remain for quite some time. While residential real estate seems to be lagging, the commercial market is gearing up and building construction continues. There is no doubt that the residential market will once again be robust as Tysons Corner becomes accessible by Metro.

Market data and commentary provided by Charlie Carroll, Managing Broker, Avery-Hess, Realtors.

Search for homes in McLean, Tysons Corner and all of the DC Metro: www.averyhess.com

Centreville, VA Market Report 3/28/11

How does the Real Estate Market look for Northern Virginia this year?

All of the signs are for a strong market and increasing listing and sales prices.  Due to continued low interest rates and low inventories, the demand from buyers will continue to outrun the supply.

The Centreville, VA statistics reflect the overall climate for Northern Virginia:

Total 49 Unit Sales for February 2010

Total 58 Unit Sales for February 2011 – a 9 unit increase from last year

Average sale price for February 2010 was $288,836

Average sales price for February 2011 was $319,093 a dramatic 10.5% increase

Average days on the market listing to contract for February, 2011 was 52

If you are considering selling your home, get ahead of the start of the Spring market, pick a reputable well known and well capitalized company, interview at least 2 qualified agents, prepare your home and sit back and wait for the contracts.

Market data, commentary, and statistics proved by Jim Agnew, Managing Broker, Avery Hess, Realtors, Dulles Area Office, Centreville, VA

A Special Season is About to Blossom in D.C.

There are two seasons in D.C. that people are always aware of.  Coincidentally, they always collide. And while tax season leaves people scrambling, the blooming of the cherry blossoms provides a much more serene experience.

The cherry blossoms are a Washington institution, much like Congress or traffic. You can’t think of this city without thinking of these beautiful early flowering trees.

Given to the United States as a gift from Japan in 1912, the cherry blossoms’ peak season, when they are in full splendor, almost always comes in late March/early April. This year, they are almost ready to hit their peak, which should come during the middle of next week.

There are two ways to experience the cherry blossoms: on your own, or with the crowds during the numerous events that take place as part of the National Cherry Blossom Festival.

To avoid the crowds, try taking in the trees on a weekday after work.  With Daylight’s Saving Time’s extra hour of light, the sun stays up until well past seven, giving you plenty of time to wander.

Though there are trees throughout the city, the best and most well known collection of blossoms are around the Tidal Basin, the 107-acre reservoir in Southwest D.C.

For those that have never been for a walk around the Tidal Basin, it is one of the most calming spots in the city. The trees naturally grow toward the water, and their gnarled and knotty branches constantly overhang the path, making walkers duck and dodge to avoid the limbs.

Additionally, the Tidal Basin is home to a great number of monuments that are often ignored. In the nearly two-mile stroll around the water, you will pass by the massive Thomas Jefferson memorial, with its giant Ionic columns; the low-slung FDR memorial, with its sandstone walls and tumbling waterfalls; and the soon to be completed MLK memorial, that while still under construction, looks majestic.

If a weekday evening trip isn’t to your liking, or if you would like to visit the city when it is fully hustling and bustling, then this Saturday is perfect for a trip to see the trees. Saturday is the celebration’s opening festival, National Cherry Blossom Festival Family Day, a kickoff party at the National Building Museum at 4th and F. It’s free to attend, and goes on both inside and outside the museum, featuring an array of dancers and performers from around the world. Be careful heading into the city this weekend, though, because along with the festival is the National Marathon, which will feature numerous street closures and clogged routes.

Two weeks from this Saturday is the National Cherry Blossom Festival Parade, the biggest event associated with the blooming. On April 9th, the parade will kick off at 10 a.m., beginning at the corner of 7th and Constitution, and will travel ten blocks, to 17th Street. The parade features massive floats, marching bands and performers. It is a spectacle that rivals the Macy’s Thanksgiving Day parade as one of the best in the nation. Grandstand seats cost $17 a person this year, but if you’ve never attended, you’ll want to, because it’s something that everyone who lives in this city should see in person at least once.

Just don’t forget to do your taxes before you head out — they are due only six days later!

-David

Prince George’s County, MD Market Report – 3/23/11

Prince George’s County is located north, east and south of Washington, D.C.

The north part of the county is anchored by the Capital Beltway and the Baltimore-Washington Parkway.  The major employers in this part of the county are The University of Maryland, Beltsville Agricultural Research Center and NASA-Goddard Space Flight Center.  The community of Greenbelt was one of the earliest planned communities to be built.  This north part of the county also has many areas of historic homes including University Park, Mt. Rainier, Berwyn Heights and Hyattsville.  There are several parks and lakes for family enjoyment.

The central part of the county includes Mitchellville, Bowie, Upper Marlboro, and more.  Bowie is best known as a planned Levittown and is currently the largest city in Prince George’s County.  Housing styles range from ultra-contemporary to century old homes in Bowie’s antique district.

The county also includes the rural tier, the inner beltway and the south county.  South County is one of the fastest growing areas and includes the newly developed National Harbor along the Anacostia River featuring riverside living, hotels, convention center, shops and restaurants and Nationals Park home to the Washington Nationals Baseball Team.  There are ferry rides that cross the river from National Harbor to Alexandria.

February 2011 Real Estate Market Statistics

Statistic Values YoY MoM
Total Sold Dollar Volume $99,823,034 -0.56% -0.48%
Closed Sales 550 +8.27% +1.48%
Median Sold Price $157,000 -15% -4.85%
Avg Sold Price $181,496 -8.15% -1.92%
Avg Days on Market 86 days -13.13% -5.49%
Avg Sold to Avg List Ratio 90.6% -0.94% +0.6%

Prices continue to fall in Prince Georges County.  The bottom experts say is in sight.  Keeping this in mind the time to buy is NOW.  With the number of Closed Sales up +1.48% over last month and also up +8.27% in comparison to this time last year.  I will not be surprised if there is a large increase in Average Sold Price next month.  Spring is here and so are the homebuyers.  Rates are still low and there are plenty of bargains to be had in Prince Georges County.

Market data and commentary provided by Kathy Fleskes, Managing Broker, Rockville Regional Office.

Search for homes in Prince Georges County, and all of the DC Metro: www.averyhess.com

Stafford County, VA Market Report – 3/22/11

Happy Spring!  It is so nice to see some sunshine and to feel the warmer weather!  It seems like it was a REALLY long winter!  The 2011 spring real estate market is starting off nice and strong!  Our market is blossoming just like some of the early flowers, making us feel more hopeful that real estate in our area is a little more stable than other parts of the country.

The reality is that houses are still going into foreclosure and people are still having difficulty in working with some banks in regards to loan modifications and short sales.  In our area, foreclosures are lower than they have been in a long time.  We are still seeing them, but short sales seem to be going through more than in the past, resulting in less bank owned properties.  Prices are rising ever so slightly enabling some people to be able to sell their homes outright, when maybe they couldn’t afford to do so a year or two ago.  Rates are still low and we are seeing many Buyers who are able to afford to buy a new home rather than rent.

Speaking of rental prices, rents are going up in our area.  There are not as many rentals out there as there are Renters.  Many people who have gone through short sales and foreclosures over the last couple of years are not able to qualify for financing yet and therefore need to rent.  We are seeing multiple applications come in on properties, therefore making the rental process more competitive.  With all of this being said, it is a great time for Renters to examine their financial situation and see if it is a good time to buy!  In our area, there are many cases where people are paying as much or MORE for rent than they would be for a mortgage!

Feb-2011 Feb-2010 %Change
New Listings 187 174 7.47%
Units Sold 119 97 22.68%
New Pendings 208 145 43.45%
Median Sales Price $191,000 $235,000 18.72%
Avg. SP to OLP Ratio 89.8% 93.4% -3.87%
Avg. Days on Market 84 63 33.33%
Detached Units Sold 87 69 26.09%
Attached Units Sold 32 28 14.29%

To sum it up, spring time is here and so is our spring real estate market!  Units sold are up, new pending contracts are up and median sales prices are up!  Hopefully this trend will continue and 2011 will be a better real estate year for everyone!

Commentary and market stats provided by Amy Cherry-Taylor, Business Manager, Stafford Regional Office.

Search for Home in Spotsylvania County: www.averyhess.com