“Great American” Cooking In Washington D.C.

Washington D.C. has seen an explosion in haute cuisine recently, with celebrity chefs and elaborate menus taking over the city. But sometimes simple cooking is all a stomach needs. That’s where Great American Restaurants and their numerous locations come in handy, satiating the desire for great food without fuss.

The company began in 1976 with an eatery in Annandale and has expanded to nine distinct restaurants in twelve locations. While each locale varies in terms of style and menu, every spot operates on the same principle of good yet reasonably priced food.

There’s wide variety in the group, from a seafood restaurant in Fairfax to a steakhouse in Springfield to a tavern in Merrifield. Wherever you choose, you can expect a great meal.

Silverado

Red brick walls lend an adobe feel to the interior of Silverado, which was the company’s first location. The décor matches the restaurant’s style of cooking, a Southwestern/Tex-Mex/Southern blend.

What seems like a hard range to tackle is done deftly in the kitchen. Fajitas come out crackling on cast iron plates, blackened chicken breasts ring with Cajun spices and beef tips are married with tequila creating one of the most unique pasta dishes in D.C.

Whatever you order, be sure to grab a side of shoestring fries, which, cut paper thin, might be the area’s best.

Sweetwater Tavern

There are a decent number of breweries in the D.C. area, but not many can compare with the beers crafted at Sweetwater Tavern, which brews lagers and ales at three locations: Merrifield, Centreville and Sterling. The drafts rotate on a frequent basis, but almost any variety they make pleases the palate.

The cooking is as strong as the brewing. Aiming for a tavern feel, Sweetwater serves large portions of hearty food packed full of taste. Among their finer plates is the Drunken Rib Eye, a large slice of marbled beef marinated in the brewery’s Great American Pale Ale. It’s served with a side of whipped redskin potatoes that can leave an eater full for days.

Mike’s American

If the thought of steak tantalizes you, head to Mike’s American in Springfield. The large, sandy brick building is simple and unpretentious, just like the restaurant inside. The dining room is trimmed with dark mahogany, similar to most high-end steakhouses. But at Mike’s the fuss and pomp are nonexistent. All that matters is quality meat at affordable prices.

The prime rib is outstanding, on par with some of D.C.’s top restaurants. The biggest cut here costs just $35, and it is cooked to perfection, succulent and tender despite its size.

Coastal Flats

If meat is not to your liking, Great American offers something for the piscivore in everyone. Coastal Flats opened several years back in Fairfax and has already opened a second location in Tyson’s Corner. Fresh catches rotate daily, but be sure to order an appetizer staple of the restaurant,  the sweet and spicy calamari. A different take on the traditional squid dish, Coastal Flats eschews heavy breading and lets red pepper flakes shine and bite.  It’s served with pepper jelly, a blend of sweet jam and hot peppers that is unlike anything else out there.

These are just a few of the delicious places Great American Restaurants operates. Among the other locations are Ozzie’s Corner Italian, an Italian-style restaurant in Fairfax; Jackson’s Mighty Fine Food and Lucky Lounge in Reston, which also has a seafood slant; and Best Buns, a bakery in Shirlington.

And with nine different restaurants, Great American Restaurants can please anyone on any given night.

-David

Springfield, VA Market Report – 9/1/10

If we put 10 economists in a room to discuss the current real estate climate and the forecast for the future, we would likely hear 10 different opinions.  And if we believe everything we read and hear from the media to be true, we might wonder why we even get out of bed in the morning. Certainly the economy is still suffering and we are living in difficult times, but there is always a bright side, a silver lining to rely on.

Springfield is a microcosim of typical America and while there are an abundance of distressed properties, there is also hope for the future outlook of this area. The dog days of summer couldn’t have been more evident this year as we suffered through record numbers of 90 degree + temperatures but the intrepid souls in search of opportunity found what they were looking  for .

While the number of homes that went to settlement in August was down by 40% from last August, the number of properties that went under contract last month was up by 65% over the previous year. The issue is not the lack of inventory. There were 22% more homes available in August than in August of 2009.

Of all the homes available and under contract, nearly 1 in 3 are foreclosures or short sales.  This reflects a sad but real situation; banks are selling more homes than builders.  Homeowners opting to rent rather than sell found a lot of competition in August, but there seems to be an abundance of folks preferring to or only able to enter into a lease situation. There were 103 properties of individual owners for rent in August. By the end of the month, 61 had rented and another 14 had applications registered.

There are people in the Springfield marketplace buying and selling property. Many owners are waiting for the prices to go back up and many buyers are waiting to see if they’ll keep falling. Hopefully, with wise counsel, they won’t miss out on opportunity when it is standing right in front of them.

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

Springfield, VA Market Report – 5/3/10

People always wonder if we are in a buyer’s market or a seller’s market.  You’ll hear some say it’s a buyer’s and some say it’s a seller’s market.  You can argue either point based on guess work, but there is a specific way to determine the market conditions in your area. Absorption rate is a mathematical representation of the relationship between supply and demand.  Below are the market statistics for Springfield from March 2010.  We will use these numbers to get a snapshot of the Springfield market.

• Total Active Listings – 312
• Under Contract – 130
• Total Sold – 85
• Avery Sales Price – $377,773
• List to Sell Ratio – 98.03%

These numbers show an improvement in several areas over the same period last year.  The number of units sold was not changed significantly but the average sold price increased by $45,000.  The days on market decreased from 91 to 34 and sellers were getting 98% of their asking price up from 91% last year.  So it appears that things are looking up.  But are we in a buyer’s market or a seller’s market?  To determine that, lets look at the absorption rate.  Here’s how it works.  We determine the total number of active & pending listings (442), and the total sold last month (85).

85 x 12 (months) = 1020

1020 / 52 (weeks) = 19.62 (units sold per week)

If 19.62 units sell each week, divide that number into the number of active listings.

442 / 19.62 = 22.53 weeks or 5.63 months (Absorption Rate)

The absorption rate means that it would take 5.63 months to sell all the inventory.  Absorption Rate is not an exact science.  One month does not determine what the market is, there needs to be a trend of perhaps 3 or 4 months.

When the rate is 1-4 months it is considered a seller’s market.  Buyer’s market conditions exist when its 7+ months.  Between 5-7 months “normal market” conditions exist.  It’s not quite a trend yet, but Springfield is experiencing normal market conditions.

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

Springfield, VA Market Report – 12/3/09

The preliminary figures for November in the Springfield, Virginia market continue to give some cause for optimism, yet also reflects some caution.

• New listings: 69
• Closed sales: 85
• Pending sales: 191
• Average sold price: $347,339
• Average DOM: 28

The number of pending sales increased by 60% from the previous month as buyers scrambled to take advantage of the tax credit, which was eventually extended to the end of April. New listings however, decreased by more than 50%, further reducing the available inventory. The average days on market (DOM) dropped from 42 days to 28 days. This time last year the days on market was over 100. So, these numbers all reflect a shift in the supply and demand, which will hopefully return the market to normalcy. Though, the average sales price decreased 3% from October, our biggest concern now is the lack of new inventory. There are buyers ready to move forward but the number of available homes presents a problem. Now is a perfect time for sellers who are looking to move up into a larger home. The low inventory, particularly in the entry market price range, allows sellers the best chance to get a quick offer at good price.

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

Springfield, VA Market Report – 11/13/09

The past month showed encouraging signs in the real estate market for Springfield, Virginia. The following figures reflect the upturn in activity:

• New listings: 111
• Sold listings: 80
• Pending sales: 116
• Average sales price: $358,024
• Average DOM: 42

As October drew to a close there was some uncertainty regarding whether the First-Time Homebuyer Tax Credit would be extended. This may account for the increase in pending sales as buyers were hurrying to get under contract. On another positive note, the average sales price increased by nearly 5% to $358,024, and the average days on market (DOM) decreased 50% to just 42 days. One of the most telling signs was the list price to sales price ratio. This figure also increased by 5% to over 97%. Last week the President signed the bill extending the tax credit until April 30, 2010. Buyers now have until then to be under contract and an additional 2 months to settle. The bill also provides for a tax credit for step-up buyers who have been in their homes for five consecutive years and are ready to move up to another home. Contact me or any Avery-Hess agent for all the information you need for your next real estate transaction.

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

Springfield, VA Market Report – 10/20/09

Most indicators for Fairfax County continue to show signs of improvement and Springfield is right in line with that prognostication. The recent highway improvements at the Mixing Bowl have made the confluence of the three major highways along the 1-95 corridor an important part of the future growth of the area. With the base relocation project forecasted to bring thousands of new jobs to Fort Belvoir, Springfield will surely see an influx of buyers moving to the area. It appears that through three quarters in 2009 the housing market has continued to improve and opportunities for both buyers and sellers are available. The following are significant statistics for Springfield in September:

• Active listings: 300
• Closed sales: 93
• New listings: 117
• Pending sales: 103
• Average sales price: $371,264

As with most areas in Northern Virginia, the available inventory of housing has declined from previous years. The number of units sold in September was down 8% from 2008, but the average sales price was up by nearly 4%. The average days on market declined dramatically by 30% from last year. These last three statistics are significant for buyers and sellers. The amount of inventory is down (supply) and the average sales price is up (demand). Buyers are facing multiple offer situations so they must be aware of what they are competing against. For sellers, the low inventory translates to less competition and houses are selling 30% faster. Properties are being sold at 95% of the original list price, up 2% from last year. Conditions at this time reflect win-win situations for buyers and sellers. Be sure to contact your Avery-Hess Realtor to get all of the up to date information you need to help you make the most intelligent and informed real estate decisions.

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

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