Archive for the 'Communites to Visit' Category
FHA Loans-The Change Didn’t Hurt
May 19th, 2009 Categories: Focus on Prince William, Real Estate Ramblings
When FHA first announced they were raising the required down payment from 3 to 3.5% there were shouts of alarm from both lenders and Realtors® that the change would crash home sales.
However looking at the type of loans used to purchase properties in Woodbridge in April it is obvious that the alarm was just another “Chicken Little” scenario.
FHA loans are alive and well and out pacing all other types of loans. This quick chart looks at zip codes 22191, 22192 & 22193 all hot areas right now.
| Loan Type | Number |
| VA | 39 |
| FHA | 164 |
| Conventional | 79 |
| Cash | 87 |
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Let the Bidding Wars Begin Again in Prince William County
April 12th, 2009 Categories: Focus on Prince William, Local Market Updates
Have the prices in PW County (VA) finally hit bottom? Have the lower interest rates sparked new interest in home ownership? Has the $8000 tax credit finally gotten buyers off the fence?
Whatever has happened the bidding wars to buy lower priced properties in Prince William County are back and going to strong. Look at this list of current list to sales prices for townhouses in the Lake Ridge neighborhood.
List Price Sold Price
$87,900 $125,000
$97,900 $135,576
$119,000 $128,000
$128,900 $145,000
$125,900 $150,000
$139,900 $159,900
$139,900 $160,000
$149,900 $160,225
$144,900 $175,000
This past week I spent a good deal of time searching for properties for a buyer and one property on our must see list have 5 offers on it in 3 days and another one had 15. In the agent remarks we see the comments “multiple offers received”, “best and final only”, “contracts sent to the lender” and “no more offers being considered.”
The good news is that this is going to have a positive impact on prices this spring and we should see the list prices for foreclosures start to be more in line with true market prices. This will help “regular” sale and possibly short sales as well. It also means if you are a buyer you need to have your mortgage paperwork in order and be ready to make an offer on the property you want.
Lowball offers are dead!
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PW County Inventory-What’s Missing from our Numbers
March 19th, 2009 Categories: Focus on Prince William, Local Market Updates
Currently the MRIS data shows that the number of new listings in our area is down. This chart shows Prince William County inventory for Feb 2009 as compared to Feb 2008.
Okay this should be good news. However along with every set of data comes the back story.
In the case of lower inventory some of that back story has to do with foreclosure listings. Last fall Freddie Mac along with other lenders put a moratorium on new foreclosure proceedings until the economic stimulus packages worked their way through Congress. Only those properties that had already been through the foreclosure process made their way to the MLS and not even all of those have been listed.
For example one agent in my office who handles Freddie Mac foreclosures has just now received the go ahead to list a few of the properties that had been through the foreclosure process last October and November. Even more interesting is that in one case the owner of the property is still living in the property five months after the foreclosure. A quick look through RealtyTrac.com shows a few hundred properties with the title transfers to a lender, yet none of them have made it to the market. A recent Friday Washington Post showed close to 300 Trustee Sales at the PW Courthouse alone and those properties haven’t hit the market yet either.
At some point many of those properties that have been in a holding pattern for the last three to five months will make their way to the spring market. Add to those the properties where tenants have been living with their lender landlords and you begin to see when the foreclosure moratorium is lifted that we could have a huge influx of new foreclosures on the market.
Hopefully the lenders are looking at the impact of how unleashing all of these listings at one time could devastate an already fragile Prince William County market. If they don’t consider a staggered release of this pent up inventory we could be facing another significant drop in prices, creating even more problems for those sellers in the middle of trying to refinance their homes.
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Lake Ridge VA-Avoiding the Cookie Cutter House Syndrome
January 4th, 2009 Categories: Focus on Prince William
Tucked away among the trees off of Old Bridge Road in Prince William County is the community of Lake Ridge. With over 7000 detached homes, townhomes and condominiums a buyer can find just about any type of home at a price that fits their budget within Lake Ridge.
As you drive through each of the different sections of Lake Ridge you will get a true sense of “small town America.” Frequent community events including Youth Flag Football, T-Ball, Summer Camps, Yard Sales, and Holiday Parades give everyone young and old a chance to meet their neighbors.
With multiple grocery stores, plenty of places to eat and a nice mixture of small shops residents of Lake Ridge don’t have to drive far to find everyday necessities. When the need arises Lake Ridge is only a few miles from the huge Potomac Mills Outlet Mall, Ikea, Costco, Lowes and Home Depot.
If your family includes children there are 5 elementary schools, 1 middle school and 1 high school all within the community. Many children can walk to school and for the others it is a short bus ride. There are also a number of pre-schools located within the boundaries of the community as well.
Looking for recreation activities? Then Lake Ridge is the place for you. If you are a runner join the Ridge Runners Club, launch a small boat Hooes Run Boat Ramp, play tennis at one of the seven courts, swim at one of the five pools, or join one of the many other clubs that meet at one of the two community centers. If that isn’t enough for you Prince William County Park Authority also operates Lake Ridge Park with a 9 hole golf course and a small marina.
Lake Ridge has always been popular with military families who find themselves with orders to Fort Belvoir, the Pentagon or Quantico. Not only are all of the reasons listed above important to military families but the drive to Fort Belvoir is within 30 minutes or less depending on where you live in the community. There are multiple options for commuting to the Pentagon including slug lines, bus routes from commuter lots and the VRE with transfer points to the Metro. Quantico is a reverse commute on either I-95 or Route 1.
So if you are looking for a neighborhood where the developers left the cookie cutters at home then give me a call to take a tour of Lake Ridge. Let’s see if this Prince William County community is the next place you want to call home.
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When is a Fort Belvoir Address Not A Building on Post?
December 31st, 2008 Categories: Focus on Fairfax County, Military Relocation
When most people think of a Fort Belvoir address they immediately think of the U.S. Army Post. However Inlet Cove shares the Fort Belvoir postal address with its close neighbor. Inlet Cove is one of newer zero lot line neighborhoods that were built in Northern Virginia between 2002-2005.
With its close proximity to Fort Belvoir you shouldn’t be surprised to learn that a large percentage of the owners are current or former military. With the main gate to Fort Belvoir, DeWitt hospital, the PX and Commissary just a stones throw away, it is easy to understand why military families gravitate to either one of the large townhouses or detached homes that dot the winding streets in the neighborhood. The neighborhood is small with only 255 homes but it does have a tot lot and swimming pool.
With the shops of Lorton Market, the restaurants at Lorton Station and the Lorton VRE just a few miles south of the neighborhood finding what you need, if you don’t shop on post is easy. Recreation opportunities abound in the area with the Accotink Wildlife Refugee and Mason Neck State Park. Interested in history? Then just across the street is Pohick Church founded in 1732 and Mount Vernon is just a few miles away.
If a PCS move Fort Belvoir is in your future give me a call. Whether you are renting or buying I’ll be glad to answer your questions and give you a tour. I’ve been in your shoes many times and understand the complexities of a military move. You can also check out my Fort Belvoir Relocation Guide for more information on the area.
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The house was unassuming from the outside. A typical Prince William County brick front colonial with a great lot. Nothing unusual on the main level and since it was a foreclosure the buyer’s expectations weren’t set to high. Upper level had 4 nice size bedrooms and other than a little clean up the house was receiving two thumbs up.
Then we ventured to the lower level recreation room. This was obviously the party room in the house. At first glance the thought was perhaps vandals had come into the house. But then we realized that the graffiti was there on purpose. All of the walls had been covered with words and slogans. Honestly it was “tastefully” done and when you consider what we all encounter in foreclosure properties it was a pleasant surprise.
The house is on the buyer’s short list. It has multiple commuting options to the Pentagon where he is stationed, good schools and close to shopping. In a way it might be hard to paint over the graffiti but at least it only needs paint and not someone to come in with a mask and protective clothing to take out mold! Another day of interesting things you find when showing foreclosures in Prince William County.
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Relocation is never easy. It doesn’t matter how many times the PCS orders arrive there are the usual questions about your new area and this on-line guide is here to help you answer a few of them.
What is the BAH rate for Fort Belvoir? Use zip code 22060
Where is Fort Belvoir Located?
Northern Virginia
Fairfax County
What’s On Post?
To know everything about the post you need to check out the official Fort Belvoir website. In addition here are a few posts on my personal perspective of Fort Belvoir:
Fort Belvoir Housing
Fort Belvoir Accotink Trail
Fort Belvoir Not Your Usual Army Post
DeWitt Hospital
What types of neighorhoods are there close to the post?
Since housing is a very personal choice providing you information on every neighborhood in the area without knowing your needs could be confusing. Once you have your orders in hand we can talk about your housing needs and find the neighborhood that best suits your needs. Here is a sample of some local neighborhoods that are popular with military families in our area.
Belmont Bay
Burke
Kingstowne
Lorton
West Springfield
Westridge
You can also check out my Fort Belvoir interactive map on with photos of some of these neighborhoods as well.
What attractions are there close to post?
Northern Virgina and DC are full of great things you can do, many of them for free. Here are a few that you can consider for anytime of year.
Mount Vernon and Woodlawn
Five Great Local Attractions
Free Things to do in DC
Do you have any recommendations for places to eat?
You can find plenty of great places to eat around the area. Whether you want formal or casual here are a few that our family frequents when we want to eat out.
Alexandria Pastry Shop and Deli
Dixie Bones
Madigan’s In Occoquan
Sunflower Café
If a transfer to Fort Belvoir is in your future give me a call. I’ll be glad to answer your questions about the area and give you a tour. I’ve been in your shoes many times and understand the complexities of a PCS move.
©Cindy Jones. “Your Fort Belvoir On-Line Relocation Guide”
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Fort Belvoir-Base Housing A New Look
November 5th, 2008 Categories: Focus on Fairfax County, Military Relocation
The first question you might ask is why would a Realtor® write about base housing? Don’t you want to sell me a house? Certainly it would be nice if everyone who moved to Fort Belvoir would buy a home but in reality many families make the decision to live on base for a variety of reasons.
Our family had to make the same decision both in the US and overseas. We lived both on and off base depending on what housing was available for us and our location. Our 700 square foot house in Okinawa with neighbors who owned a water buffalo was an experience you don’t have everyday and one I won’t ever forget.
Anyone headed to Fort Belvoir will discover a wide variety of housing options. Recent construction has replaced many of the older duplexes with new townhouses and detached homes. Add in the town center and you might have a hard time distinguishing the neighborhoods on post with some outside the gates of the post. Obviously the Fort Belvoir housing office will be the official place for you to learn about which neighborhood and type of house you may be eligible for should you decide to look at post housing.
Driving around post you will find the base housing divided into 12 villages with homes ranging from the historic older brick homes in the Gerber and Belvoir Villages to the brand new “green” homes in Fairfax Village. Fairfax Village is the site of a LEED-Platinum certified neighborhood center. Platinum LEED-Certification is the highest award and the neighborhood also features a native species butterfly garden.
With the close by Accotink Bay Wildlife Refuge for families to enjoy, aFairfax County elementary school on post and multiple recreation centers, living on post has certainly improved. If you decide that off post housing is a better fit for you please give me a call. I’d be glad to help you look at nieghborhoods that will meet your needs.
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Fort Belvoir- Neighborhood Connections in PW County
September 13th, 2008 Categories: Focus on Prince William, Military Relocation
With the upcoming influx of military and civilian personnel scheduled to move to Fort Belvoir, neighborhoods within 30 minutes of the post in Prince William County are gearing up for new homeowners to arrive. All of these neighborhoods offer great value in today’s market and they offer a choice for buyers which include foreclosures, new homes and re-sales.
The first community you find when you cross the Occoquan River is Belmont Bay. With its waterfront location, variety of home styles and communities amenities it isn’t a surprise that this community has been discovered by military families being stationed at Fort Belvoir. If you walk the waterfront paths in the community you will be greeted with a smile and hello from everyone you pass. Kids love to run on the pavilion green and watch the boats coming and going from the gazebo by the docks. Commuters appreciate the quick hop onto Route 1 to head to Fort Belvoir or the VRE station right in the neighborhood to take them into Alexandria or DC.
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Meteoric Fall in Prince William Prices Lead to Scorching Summer Sales
August 15th, 2008 Categories: Focus on Prince William
Scientist around the world are studying the phenomena of global warming and wondering why the temperature around the world is rising. Perhaps they should take a look at the meteoric fall of prices in Prince William County leaving the county the hottest real estate market in Northern Virginia.
Even though the press likes to focus on the negative on aspects of the market the buyers who are out today are not flip and run investors. It is also interesting to notice the distribution of price ranges. The majority of the sales aren’t at the lowest price point of available homes but closer to the mid-point of prices.
Sales over $500,000 are still happening and the majority of the homes sold in this price range are the newer homes in the western Prince William County cities of Bristow, Gainesville and Haymarket.
The price volume of sales is up 22.5% from the same time in 2007 and the number of homes sold is up 95.5%. This is as always tempered with the fact that average sold price is down 37.3%. The majority of new loans used to purchase properties were FHA and VA and there were 52 all cash transactions recorded in the MLS as well.
The sales numbers this fall are going to be the one that we are going to be looking be paying close attention to. With the changes in the FHA loan programs, the elimination of the down payment assistance programs and how first time buyers view the $7500 tax credit will begin to be reflected in our sales in late September and October.
For now buyers who have been sitting on the fence have an opportunity to make a grab for homeownership in an area that is offering some of the best values in Northern Virginia.
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