Bristow, VA Market Report – 1/30/12

The Northern Virginia market is currently experiencing the lowest inventory levels we’ve seen in the past 5 years.  Prince William County and the Bristow market are also seeing low inventory levels.

When analyzing the statistics, the data shows that Prince William County’s total sales volume has remained steady year after year, the Bristow market has seen a gain of 67%.  The Prince William County market experienced a peak in volume in July, 2011, then showed a steady decline through October, and has shown a rapid recovery this past November and December.  In Bristow, all indications show that January, 2012 will mirror this trend.

Let’s look at the Stats:

With interest rates at an all time low, home prices remaining steady, and inventory at a 5 year low, now is the time to make that decision to sell or buy.  If you are considering selling and moving up, now is the time.

Information obtained from statistics supplied by Metropolitan Regional Information Systems, and analysis and comment by Jim Agnew, Managing Broker, Avery Hess, Realtors, Dulles Regional Office

Ring in the Chinese New Year with Traditional Treats

This week marks the beginning of the Chinese New Year, one of the most important holidays in Chinese culture. The Year of the Dragon officially began last Monday on their New Year’s Day. But unlike the Western New Year, the celebration doesn’t end the day after the clock strikes twelve. No, the Chinese New Year is a two-week long festival that’s still going on.

This year is an extremely important one in the Chinese calendar, which runs on a 12-year cycle, known as the Zodiac. Each year of the cycle corresponds to an animal, real or fictitious. This year is the Year of the Dragon, which is considered the luckiest year in the cycle. It’s one of the most powerful signs in the Zodiac, signifying dominance as well as ambition.

Which means there’s reason to celebrate, even if you don’t follow the Zodiac.

The best place for festivities will of course be Chinatown, in the heart of downtown D.C., Northwest of the Verizon Center.

There will be plenty of festivities held there this year, but the biggest will be the Chinese New Year’s Day Parade. From 2-5 p.m., this Saturday the 28^th, a four-block square, from 6^th to 8^th Street and G to I Street will be shut down to make room for the raucous parade. During the day, you’ll see dragons marching, hear traditional Chinese musical entertainment and can even catch a Kung Fu demonstration.

If you really want to have a totally authentic celebration on Saturday, go to Chinatown earlier in the day and experience the traditional Chinese brunch, known as Dim Sum.

Dim Sum, which means heart’s delight, is a different style of eating. Instead of the typical menu and ordering process, servers instead push carts around filled with small, appetizer-sized portions. The ordering options encompass the commonplace, like steamed buns and dumplings, and the far out, like fried chicken feet and turnip cakes. At the restaurant, diners can simply see something they like being carted around and ask for a serving.

In Chinatown, there are plenty of excellent Dim Sum spots, and the best way to find one is to walk around and look to see which restaurants are buzzing. Or you could head to the spot that’s considered one of the better in the city, which is just north of the Chinatown arch, Ping Pong Dim Sum.

Ping Pong Dim Sum is one of the most popular Dim Sum spots in D.C., so much so that they just opened a second location in Dupont Circle. The Chinatown location, on 7^th just South of K Street, is actually an offshoot of a London chain.

The restaurant starts serving Dim Sum at 11:30 a.m. on Saturday and 11:00 a.m. on Sunday, and has some of the tastiest bites around, with nearly 50 choices to choose from. Plates are inexpensive, running from just $3 up to $7. But, since the sizes are small, it is easy to accidentally run up a tab.

If you can’t make it to Ping Pong on Saturday, before the parade, then Sunday is another great time to go. Not only will fewer people be around, but in honor of the Chinese holiday, the restaurant is hosting a “Green Dragon Party Brunch,” where diners who arrive with green in their outfit will receive 15% off their checks.

Spotsylvania County Market Report – 1/24/12

December ended with a bang!  While December is typically a slow month, the last couple of years have changed a bit.

Spotsylvania ended the year with an 18.75% increase in closed sales, a 5.58% increase in median sales price, a -17.86% reduction in days on market and a 21.21% increase in detached units sold!  That is fantastic news!

Sales rose, days on market declined and median sales price increased!  That is what needs to start to happen for us to ever begin to see a true recovery.

Read on for more stats:

One stat that has continued to be the same for quite some time, not only in Spotsylvania but in surrounding counties as well, is that we need more listings!

New Listings were down -6.62% and active listings were down -24.28%.  This has been the same story month after month. There are so many Buyers out there and many of them are just waiting for the right house to come on the market. If you are considering selling now is a great time to do it!

Foreclosures and short sales are still popping up everywhere. Banks are being very strict in making sure they receive no less than market value on the sales they are involved in, so that is helping with our prices. Many short sales are going through – so if you are having trouble making your payments, make sure and contact an experienced Realtor who can help you avoid foreclosure.

January is off to a great start!  We are expecting a great spring and this is a great time to jump into the local market!

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

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

MyLife in Metro DC: Bolt Bus or Bust

Living in the metro DC area, we are pretty spoiled when it comes to travel options.

We can jet off on bargain flights from Reagan National or Dulles Airport, avoid the endless hours of commuting traffic using the Metro or Amtrak, or just sit back, relax and let someone else do the driving on a bus.

Last week, I attended the Inman Connect conference in New York City and while I was preparing for my trip I had to decide the best way to get there.

Do I drive? Fly? Take the train? Or take a bus?

Driving would include lots of tolls, traffic, and a hotel charge of $50 dollars per night for parking – ouch!  Flying would be the quickest, but landing at JFK adds around a $60 cab ride to get into the city.  For this trip, I was working on a budget, so these two choices were definitely out.

To help make my decision, I went to Facebook – asking my friends their preferred method of travel to NYC and had an overwhelming response of suggestions.  Many said they swear by the train, but another offered an option I hadn’t heard of before.  The Bolt Bus.

I went to the Bolt Bus website and found that for about $15 dollars each direction (compared to $49-$79 for Amtrak), I could hop on a bus that in a mere 4.5 hours would provide me with a non-stop trip to NYC.  Not only was it cheap and efficient, it also had free Wi-Fi and electrical outlets on the bus.   I was sold. (be sure to book online in advance, if possible, to get best prices and time options)

The Bolt Bus departs from Union Station and arrives at varying locations in NYC, depending on which destination you chose when booking your ticket. When you arrive at Union Station, the bus port is on the Mezzanine level. You will actually exit the back of the building and wait outside in a covered garage area for the bus.

My three Bolt Bus tips–

1) Arrive at least 30 minutes early – they start boarding 15 minutes before departure and the “first come first serve line” can fill up quickly.

2) If it’s cold out, bring your jacket, it’s chilly in the outdoor waiting area.

3) Try your best to snag a seat with an electrical outlet so you don’t have to worry about your electronics running out of juice during the ride.

The trip was quick and easy.  On the way up, we made one “rest stop” to stretch our legs and get food and still arrived on time.  My bus dropped off at Port Authority making it a breeze to grab a subway train or cab and make it to my business dinner in Times Square with time to spare. I had arrived!

On the way home, the bus made no stops and we arrived back to Union Station almost 20 minutes early – an unfamiliar feeling compared to the flights I’ve taken recently where I’m consistently LATE.

Overall, the Bolt Bus experience was easy, enjoyable, and I would have no problem recommending it to my friends looking for an inexpensive way to get up to NYC – save the extra cash for an “I LOVE NY” t-shirt souvenir!

To share your DC travel tips, learn more about MyLife, view pictures, videos, post comments, and suggest adventures please “like” MyLife in Metro DC on Facebook!

- Kristin

Chevy Chase, MD Market Report – 1/18/12

Chevy Chase, Maryland is both a town and an unincorporated city. It is primarily a residential suburb with high end shopping, restaurants and luxury living in single-family homes, rental apartments and condos.

At one time, many of the smaller houses in Chevy Chase were being torn down and large “McMansions” were being built in their place, but this seems to have slowed with the turn in the real estate market.  However, homes, apartments and condos in the Chevy Chase area are still in high demand and bring high prices.

There seems to be an upturn in the market in recent months as indicated in the chart below.

Wondering why prices seem so high?  Chevy Chase’s close proxcimity to Washington D.C. makes it an expensive area to live with a highter median household income compared to the rest of Maryland.

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

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

Centreville, VA Market Report 1/16/12

The Centreville market has seen a 10% decline in average sales price from December 2010, while Fairfax County has also seen a reduction of 2.3%.

Centreville is one of 3 markets in Fairfax County with a high percentage of townhouses and lower priced detached homes.  These markets are influenced more by changes in the economy due to employment and tighter lending requirements, than other areas of Fairfax County.

Earlier projections of a recovery of the Centreville Market in 2011 have dimmed due the continued lack of consumer confidence.  We started 2011 with pending sales at a very low level, they doubled in the 2^nd and partly through the 3^rd quarter, then fell back to nearly the level of December 2010.

The year ended with the lowest inventory in Fairfax County in nearly 5 years, from a high of 7,900 active listings in August 2007 to a low of 2,300 in December 2011.  Those thinking of selling should consider their options while the inventory is low, and new home builders are anxious to sell, it is an opportunity to move up.

Information obtained from statistics supplied by Metropolitan Regional Information Systems, analysis and comment by Jim Agnew, Managing Broker, Avery Hess, Realtors, Dulles Regional Office