Prince William County, VA Market Report – 8/31/11

Market activity can vary from one property type or price range to the next.

For the 12-month period spanning July 2010 through July 2011, Pending Sales in Prince William County were down 20.49% from the same period a year prior.

Lets look at the Stats:

The overall Median Sales Price was up 3.59% to $260,000. Average Sold Prices increasing for both Attached and Detached Properties. Attached Properties sold price increased 1.26%, and Detached Properties sold price increase 3.20%.

New Listing inventory levels were down -12.20% from 2010 with only 778 new listings on the market last month.  Total Active Listings currently is 1555 which is slightly down from 2010 with -2.51%.

Despite the numbers above the Prince William market is very steady. There are buyers entering the market daily.

Market data and commentary provided by Maryanne Moyers, Managing Broker, Avery-Hess, Realtors.

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

Springfield, VA Market Report – 8/29/11

The Springfield area is undergoing significant change in the commercial real estate realm. With the opening of the National Geospatial Intelligence Agency and the Mark Center as part of the BRAC operation, several defense related government contractors have moved into commercial space from Alexandria to Fort Belvoir.

Commercial space in Springfield along the I-95 corridor is at a premium. Unfortunately, the influx of residential activity that was anticipated has not quite materialized. The sales revenues from last month are unchanged from the previous year but the average sold price is down substantially. Numbers from the previous 30 days are relatively unchanged.

Market Statistics from Springfield Zip Codes: 22151, 22152 & 22153:

The Dog Days of Summer are coming to an end. Earthquakes, Hurricanes, a poor economy, job insecurity and several other factors have led to a lack of consumer confidence. We survived the natural disasters, let’s hope this autumn season we can overcome the man-made disasters and begin the road back to normalcy.

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

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

Kenilworth Aquatic Gardens: A Serene and Hidden Sanctuary

Great cities in this country are known for having wonderful urban oases. New York has Central Park, San Francisco has Golden Gate Park and Chicago has Lincoln Park.

In Washington, D.C., everyone knows about the city’s two largest and most popular escapes. In Southwest lies the National Mall, the block-wide swath of land that runs from the Lincoln Memorial all the way to the Capitol. In Northwest is Rock Creek Park, one of the largest urban parks in the country.

But what if you are looking for something off the beaten path, a relaxing outdoor area devoid of tourists and even locals, a spot where you can wander in solitude and peace.

In Northeast, D.C., sandwiched between the Maryland border and the Anacostia Freeway, sits one of this area’s most unknown and underutilized sanctuaries.

Kenilworth Park and Aquatic Gardens is a place untouched by time, one of the few spots in Washington that is reminiscent of the city before settlers arrived. It’s D.C. circa the 1600s, a marsh and swampland full of flora and fauna that can’t be seen elsewhere.

The gardens began as a small parcel of land, bought by Walter Shaw in the 1880s.  Because he felt homesick for the natural flora around his home in Maine, Shaw shipped down water lilies to fill the small ponds that dotted the area.

In the humid D.C. climate, the flowers thrived, and Shaw turned his land into a local attraction.

Today, the Kenilworth Park and Aquatic Gardens span over 700 acres. It consists of two different locales, both of which are easy to explore in a single visit.

The first spot to walk around are the water gardens. This time of year is perfect to see the water lilies that originally started spawning over a hundred years ago. Small dirt paths and wood bridges allow visitors to wander throughout the numerous small ponds. Almost every bit of water is covered in small green lily pads, while cattails and lavender plants grow along the edges. Though mere miles from a busy highway, the water gardens feel utterly removed from any urban bustle.

Past the ponds are the marshlands, accessed by the River Trail. Washington, D.C. was originally swampland, before it was dredged to create the city. These marshlands are pay homage to the past, looking like the entire city limits did 400 years ago.

Both the marshlands and water gardens are an ecological preserve, hosting an unprecedented number of species, both plant and animal.

A recent count by the Patuxent Wildlife Research Center found that in the park were nearly 700 types of insects and 150 different plants. The area is a haven for birders, who throughout the year claim to see almost 300 different species of birds.

The garden is easily accessible by car or Metro, just under a mile away from the Deanwood Metro station on the Orange Line.

However, if you are looking for one of the most original ways to visit the Aquatic Gardens, some adventurous travelers arrive by canoe. Launching from the Bladensburg Marina, approximately three miles to the north, visitors can paddle down the Anacostia River and tie up at a boardwalk that goes from the river to the marshland. From there, it’s a scenic mile walk along the River Trail to the gardens.

The Kenilworth Park and Aquatic Gardens are open from 7:00 a.m. to 6:30 p.m. for the next two weeks. After Labor Day, the park’s hours shorten, open until just 4:00 p.m.

With Summer’s daylight still going until late in the evening, be sure to check out Kenilworth Park and Aquatic Gardens soon, and see a quiet part of the city that few have discovered.

-David

Bristow, VA Market Report – 8/24/11

Wow, what’s going on in Bristow?  Coupled with Gainesville ,they are Prince William County’s hot spots!

Sales volume is up 26% year over year.  While much of our area saw a decline, and Prince William County overall only showed slightly over 1%.  Foreclosures are down over 55% from last year.  The strong growth is driven by the number of newer homes on the market as well as reasonably priced new construction.

With interest rates at an absolute all time low now is the time to make that decision to sell or buy.  If you are considering selling and moving up to a new home, the builders are making deals and offering incentives.  While resales are up, new construction sales are down, builders are ready to put you in that new home now.  Further, with the average days on the market down to less than half of Prince William County, now is the time!

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

Spotsylvania County Market Report – 8/22/11

We are really at such an interesting time in real estate.  Well, I guess that is one word you can use to describe it!  Our monthly statistics are all over the place.  One month it looks like we are going to head towards a trend and the next month the numbers are all different!

As a region, our inventories are very low.  Spotsylvania has a 24.91% decrease in new listings since this same time last year.  Our market really needs some good new listings (preferably resales by private owners)!  If the inventories continue to trend down, interest rates stay low and the Buyers continue to increase. In turn, we will start to see a more stable market, which will eventually trend towards more of a Buyers’ market.  While this may seem far off, it might be closer than we all anticipate if the above factors remain the same.

While closed sales are up slightly and new pending sales are up, so are days on market and average sales price to average original list price.  See the following chart for a good picture of our current market:

While days on market are up and median sales prices are slightly down, this is a great time to list your home!

In a market like this, if you are priced right, in a good location, can show your home better than the average listing and have a great agent on your side to market your property to the masses, you will be successful!

As I said above, inventories are low and the market likes new participation.  If you are struggling keeping your home, talk to an agent about doing a short sale.  The banks are facilitating short sales at a much better pace than in the past and the success rate for short sales are on the rise.  In many cases, deficiency judgments are being excused and a good, experienced short sale agent will be able to help guide you through the process.

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

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

Theaters Take Center Stage in Washington, D.C.

Washington, D.C.’s cultural scene surpasses many cities in this country. The area boasts a plethora of excellent galleries and museums.

The city also has a phenomenal aspect of the art world that is often overlooked: theater. Within the city limits, the District of Columbia has three top-notch theaters that anyone in the area would be remiss to miss.

This first option is, right now, also the cheapest. In Penn Quarter, directly across the street from the Verizon Center, sits the Harmon Center for the Performing Arts. With its massive glass façade, the building is nearly impossible to miss.

Located on 7^th Street, the center hosts the Shakespeare Theatre Company. The building opened in September of 2007 and since then, the 750-seat theater has held about four plays a year.

If you’ve never seen the Shakespeare Theater Company perform before, the shows in the coming weeks are the perfect opportunity. Every August, the troupe puts on “Free For All,” where a play of their choice gets a three-week run at the cost of absolutely nothing. This year, the Shakespeare Theater Company performs ‘Julius Caesar,’ which runs from now until September 4^th. Shows are in the evening from Tuesday to Saturday, with a matinee on Sunday.

There are a number of ways to get free tickets to a show. People who donate to the troupe, Subscribers and Friends of Free For All, are offered the first opportunity to get tickets. But if you are not a member, there are still options to get tickets. Either enter the website’s online lottery, which draws tickets at random for the following day, or on the day you’d like to go, simply head to the theater, where they give out approximately 200 tickets starting two hours before the show.

If Shakespeare isn’t to your liking, there are still two other great options in the area. In Southwest D.C. is the newly redesigned Arena Stage. The Arena Stage has resided on Maine Avenue, across from the street from the Maine Avenue Fish Market, for nearly 40 years.

In 2008, the land underwent an enormous facelift. While the stage was left untouched, architects enclosed it in sweeping glass walls — a wavy and wild structure with a stainless steel roof. The amazing design needs to be seen in person to fully appreciate.

At the largest of the building’s three stages—The Fichandler Stage—which seats nearly 700 people, one of Broadway’s most famous and successful plays is running. Rodger’s and Hammerstein’s Oklahoma! tells the story of a couple of couples who fall in love on a farm in the play’s namesake state.

The show runs from now until October 2^nd, and tickets cost between $61-105.

The last option for impressive theater in Washington, D.C. is also the most familiar.

Located near the Watergate, on the edge of the Potomac River in Northwest, D.C., The John F. Kennedy Center for the Performing Arts, is one of Washington, D.C.’s most grandiose buildings, with bright white walls and gold columns running up the side.

The Kennedy Center is easily the area’s most visited theater. It was finished in 1971 and now hosts nearly two million visitors a year. The building houses three different theaters: the Concert Hall, Opera House and Eisenhower Theater. All three theaters can fit over 1,000 people, with the Concert Hall topping out at over 2,400 seats.

The musical Wicked closes its summer run this weekend, but Shear Madness, a murder mystery/comedy begins a fall run this week with tickets, at just $45, a real steal.

So, whether you are interested in Shakespeare, musicals or comedies, the theater scene in Washington, D.C. is one that should not be skipped.

-David