National Harbor’s Retail and Dining Scene Takes Hold in Washington

The Washington area has seen an impressive level of growth in the past decade. From suburban development to urban renewal, the D.C. Metro region continues to expand at a rapid pace. Nowhere is that more apparent than right along the Potomac River in Prince George’s County, Maryland.

For a long time, a large plot of land, next to the Woodrow Wilson Bridge, went undeveloped. Hundreds of acres lay dormant in one of the area’s most heavily trafficked corridors.

In the late 1990s, The Peterson Companies, with major aspirations, bought 300 acres just off the Indian Head Highway exit on the Capital Beltway, and broke ground. Their goal was to create an area that rivaled burgeoning Tyson’s Corner Center, which had exploded in the early 1990s.

The initial estimated numbers were astounding. National Harbor, when completed, would be 7.5 million square feet in size, with over a million square feet of retail and dining space. There were plans for six hotels and a half million square feet of office space. Situated directly on the Potomac, the Harbor would boast three piers for boaters to pull up to and tie off.

After years of development and construction, the centerpiece of National Harbor opened in April of 2008. The Gaylord National Hotel and Convention Center cost nearly a billion dollars to complete and dominates the skyline of National Harbor.

The hotel rises high above the harbor with an 18-story arched atrium, done entirely in glass. The hotel sparkles in the sunlight and reflects the blue Potomac.

The hotel and convention center are incomparable to anything in the area. The Gaylord Hotel holds over 2,000 guests and the convention center consists of nearly half a million square feet in meeting space. Those numbers make the Gaylord the largest non-gaming hotel on the entire East Coast.

Once it opened, the hotel quickly attracted conventions and tourists, and soon after, stores and restaurants sprouted up.

The shops at National Harbor are a diverse array, with options ranging from designer clothes to high-end accessories to a store that only sells items in shades of white. Those aren’t the only choices. The wide range continues with a Build-A-Bear Workshop, a Godiva Chocolatier, a Segway store, and a specialty store selling Peeps.

As impressive as the retail options are, the choices for eating on a trip to National Harbor are even more overwhelming. There are over 20 places to grab a bite to eat, with options ranging from quick and inexpensive to fancy sit-down dinners.

On the inexpensive end, the area has an Elevation Burger and will soon open a Nando’s Peri-Peri, which sells Portuguese-style grilled chicken.

For finer dining, there is Bond 45, an Italian steakhouse, and Rosa Mexicano, the second location of the poplar Penn Quarter restaurant.

After dinner, nightlife options abound, including bars Public House and Harrington’s Pub and Kitchen. National Harbor’s most popular place, though, is Bobby McKey’s, Washington D.C.’s only dueling piano bar and one of the best reasons to visit to National Harbor. All night, expert players sit at opposing pianos and try to outperform each other, ramping up and riffing on popular songs.

Indoor entertainment is only one exciting aspect of National Harbor. Every Friday, from now until September 30^th, National Harbor shows movies on a large outdoor screen. Over the next three weeks, “Movies on the Potomac” will show Field of Dreams, Friday Night Lights and The Cutting Edge. On Sundays, until September 4^th, National Harbor shows children’s movies with How To Train Your Dragon, Tron Legacy and Jumanji upcoming.

Sunday’s soon won’t be the only day to take your children. Opening in 2013, National Harbor will boast the National’s Children’s Museum, an interactive place to take kids to learn and play.

While that’s a few years away, there are still plenty of reasons to visit National Harbor, one of D.C.’s biggest and most impressive destinations.

-David

The Arlington Cinema ‘N’ Drafthouse: Bites, Beers and the Big Screen

A trip to the movies in 2011 can be an expensive affair. With most summer blockbusters utilizing 3-D and IMAX technology, a single movie ticket can cost upwards of $15.

To save money, most people now wait for movies to come out on DVD. However, there’s something to be said for leaving the house and going to the theater.

But where can you see these newly released movies without breaking your budget?

Rapidly developing South Arlington has one great theater that offers movies at a discount, as well as a host of other events, ones that give consumers a better bang for their buck.

Located on Columbia Pike and South Walter Reed Drive, lies the Arlington Cinema ‘N’ Drafthouse. A stone building with a giant ‘Arlington’ marquee outside, the Drafthouse opened as a theater in the 1950s.

Two decades ago, it converted into a movie theater. Ever since, the Drafthouse has been showing sub-run movies.

What exactly are sub-run movies? Sub-run movies are films that have already completed their run at the main multiplexes, but have yet to be released on DVD.  The Drafthouse screens these films.

The movies are usually released to the Drafthouse about one to three months after they debut. For example, the Drafthouse is currently showing three movies: Source Code, Rio and Fast Five. All of these films premiered in April, meaning just two months later, they are at the Drafthouse.

The beauty of showing sub-run movies is that it allows the Drafthouse to keep costs down. An average ticket to any screening costs $5.50, less than half of what you would pay at an AMC or Regal. And $5.50 is the most expensive ticket in the house. They are always holding specials, allowing consumers to see movies at bargain prices.

Every Monday, the Drafthouse hosts Dollar Mondays, where tickets to any of the three movies they are screening are simply a buck. It doesn’t get much more expensive on Tuesday, when tickets are just two dollars. Then it’s full price through the rest of the week.

Inside, the Drafthouse doesn’t feel like other movie theaters. There isn’t row after row of hard plastic chairs. Instead, there are seven rows of counters, with executive leather chairs behind them. There are also small round tables with chairs, placed around the perimeter of the space.

The reason for the counters and tables is because not only does the Drafthouse show movies, it doubles as a bar and restaurant.

Arriving at a seat, you’ll find a menu. Before the movie starts, waiters patrol the wide aisles, taking food and drink orders. The Drafthouse has an excellent selection of beer and wine and their food covers the gamut of typical bar cuisine, from nachos and fried appetizers to pizzas and hamburgers. It is as good as or better than most items you’d encounter at a local watering hole. Because alcohol is served at the Drafthouse, patrons must either be over 21 or accompanied by an adult.

During the movie, if you’d like more to drink or eat, place the sign on your counter upright and a waiter will quietly come and take another request. With 15 or so minutes left in the film, the check comes, so you can pay and leave right when the credits roll.

Movies aren’t the only thing the Drafthouse specializes in though. On the weekends they often host top-notch comedy acts. The Drafthouse recently had the comedy troupe Broken Lizards Club Dread (of Supertroopers’ fame) and this week is holding a show by the co-creator of the Daily Show, Lizz Winstead. Tickets for comedy shows are also reasonably priced, typically in the $20 range.

So, in an era of sky-rocketing costs, head to the Drafthouse to enjoy first-rate films at bargain prices.

- David

Silver Spring, MD Market Report – 7/19/11

May 2011 statistics for Silver Spring, Maryland were down for the most part in comparison to the month of April and to May of 2010.

Inventory is down so the bright spot is that Median Sold Price is up across the entire area of Silver Spring.  With 20905 stretching as high as +22.71% increase in Median Sold Price.

Of all the zip codes that encompass Silver Spring 20910 gained the most ground in May of this year with a Total Sold Dollar Volume of $17,182,300.  This is up +109.41% over April.  YEA!

For more details see charts below:
May 2011 Real Estate Market Statistics for : SILVER SPRING, Maryland

20901 Silver Spring, MD

20902 Silver Spring, MD

20903 Silver Spring, MD

20904 Silver Spring, MD

20905 Silver Spring, MD

20906 Silver Spring, MD

20910 Silver Spring, MD

More about : SILVER SPRING, MARYLAND

Silver Spring is a suburb of Washington, D.C. in Montgomery County with both urban and suburban areas.  Its borders go as far north as Burtonsville, south to the dividing line with the District of Columbia and west to Chevy Chase and Rockville.   Silver Spring is located on the Red Line of the Metro system and the Silver Spring stop is the most used station in Maryland.

Silver Spring is filled with historic places such as the National Park Seminary, Acorn Park and the actual Silver Spring for which the city was named; many parks and recreation centers and the newly revitalized City Place in the heart of Silver Spring.  Among some of the other notable landmarks in Silver Spring are the world headquarters of Discovery Communications, the AFI Silver (theater) and the world headquarters of the Seventh Day Adventist Church which can be seen towering above the Capital Beltway.

Silver Spring is home to a number of parks including:

Rock Creek Park, Sligo Creek, Jesup Blair Park,Wheaton and Regional Park

The renovation of City Place has brought new life to downtown Silver Spring with the opening of fine shops, restaurants and an outdoor shopping plaza where musical and ethnic festivals are held.

The large area, ethnic diversity, housing and neighborhoods to fit any lifestyle make Silver Spring a most desirable place to live.

Market data and commentary provided by Kathy Fleskes & Serena Toro, Rockville Regional Office.

Search for homes in Silver Spring, and all of the DC Metro: www.averyhess.com

Arlington County Market Report – 7/14/11

With the exception of February, July and August of 2010, the market conditions in Arlington have favored the buyer since early 2007.

The higher end detached houses have shown some evidence of slowing recently. Both prices and inventory levels are relatively unchanged in recent weeks. However with an abundance of attached homes and condos, the market, overall, shows prices on the rise and the number of contracts written is increasing.

Here are some recent statistics:

The average sold price is $589,970 up from $519,288 the previous month.

The average days on market has dropped by 25% from the previous month.

The number of new listings dropped by 9% from the previous month but the number of pending sales isup 8%.

If you’re considering purchasing, the interest rates are still at historic lows and prices are only just beginning to rise.

The proposed change in conforming loan limits being considered will lower the maximum loan amount from $729,000 to $625,000.

Buying now makes a lot of sense. Waiting for prices to drop is really no longer a good strategy.

If you are considering selling your home, price and condition are the two important elements that you can control. Consider listing now while the inventory is still relatively low.

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

Search for homes in Arlington County, and the rest of the DC Metro: www.averyhess.com

Glen Echo Gives Visitors Nostalgia

On the outskirts of Washington, D.C., just over the border in Northwest, lies a place that will take you back decades.

Glen Echo Park, in Montgomery County, Maryland, was originally built in 1891, conceived as a Chautauqua, a location for an adult education movement that was sweeping the nation, a place were people would take classes in religion, dancing and entertainment.

In the park, Chautauqua classes were held in a stone building, completed in 1892. Shortly thereafter, the area expanded, adding an amusement park.

In the early 1900s, Glen Echo had a roller coaster, a large pool, a movie theater, a shooting range and an arcade.

In 1968, the amusement park closed, but Glen Echo remains. It now serves to entertain children and to offer adult education classes, making it still well worth a visit.

The park is very easily accessible, on MacArthur Boulevard, just off the Beltway. And a trip can be an enjoyable affair for the entire family.

Going into Glen Echo, you’ll see an old, retired street car parked out front, remnants of the old trolley system that took D.C. natives to the park.  The sign above the trolley evokes 1950s nostalgia, with rounded block letters spelling out Glen Echo Park.

The most popular attraction at Glen Echo is mainly for children. Just south of the entrance is one of the park’s original rides, the Dentzel Carousel. Originally built in 1921, the carousel harkens back to olden days.  Now, it is only open from Father’s Day to the end of September.

Its hours are also restricted. In July and August, it’s open on Wednesday, Thursday and Friday from 10:00 a.m.-2:00 p.m. On Saturday and Sunday, the carousel is open from noon to six p.m. It’s closed the rest of the year.

A ride costs just $1.25. It’s worth every penny to see the inside. The carousel recently underwent a full renovation, and it is now restored to its original 1921 splendor. The horses on the ride are all hand-carved, intricate figures that showcase great detail and depth. It’s one of a kind in this area, and can really be a delight for kids and adults alike.

Although the carousel is the only ride that remains in service from the Glen Echo’s amusement park days, signs, entrances and buildings remain from many of the old attractions.

Walking around the park, you can see the entrance for the old Crystal Pool, the Candy Corner and the bumper car pavilion, which has now been converted to an open air ballroom.

On the park’s premises you’ll also find the Clara Barton House, a museum dedicated to the life of Clara Barton, founder of the American Red Cross.

The large yellow house was built in 1897, using lumber leftover from a flood in Johnstown, Pennsylvania. Barton lived in it the last part of her life, and established the headquarters of the Red Cross there. Now, visitors can tour it and see her home and artifacts from her life.

Glen Echo Park also hosts a robust art and adult education program, offering classes in the former amusement park buildings. For art lovers, the depth of classes is astounding, from basic ceramics and pottery classes to advanced forms such as glass blowing and silver smithing.

Alongside its art program, Glen Echo offers dance classes, music lessons and a theater and puppetry program. Over the summer, they also offer a large children’s program, with similar classes aimed at youths.

So whether you’d like to indulge in a lesson to learn a new skill or trade, or you just want to stroll in an area that evokes a much simpler time, Glen Echo Park is the place to visit. There’s nothing else like it in Washington.

- David

Stafford County, VA Market Report – 7/11/11

This time last year, first time homebuyers were frantically trying to make sure they could close on their home of choice by June 30th so that they could make sure and receive their first time homebuyer tax credit!

Houses were selling left and right, prices were escalating in some instances and the market was extremely busy!

Flash forward to now and in Stafford County you are seeing houses that are priced right to sell!  You are seeing buyers having to make decisions so they don’t lose out on the home that they love!  You are seeing low rates and foreclosures dwindling, but short sales are continuing to be a large part of the market.

The statistics between last year and this year are hard to decipher due to that tax credit.  But considering there was the incentive last year, our numbers are quite good!

Closed sales were up in May and new pending sales were up enormously!  That is huge considering what we discussed above.

Unfortunately, average sold prices were down slightly as well as median sales price.  While that was the case, total sold dollar volume was still up.

What does this mean for you?  This means that if you are a seller looking to put your home on the market, go for it!  New listings are down and the market needs more good homes!  If you are a buyer, take advantage of the low prices and amazing interest rates!  Our market is busy and this is a great time to enter the market place!

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

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