Posts Tagged ‘luxury homes in McLean Virginia

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23
Mar
11

Market Conditions in the Reserve in McLean, VA 22102 as of 3/22/11

By Tania Hosmer 1 Comment
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Market Conditions in the Reserve in McLean, VA 22102 as of 3/22/11

Properties in the Reserve are selling more readily than properties in 22102 outside of the Reserve neighborhood in the same price range.

As of 3/22/11, 6 properties were listed for sale in the Reserve.  2 properties sold in the past 6 months and 4 properties were under contract. 

This means that the supply and demand for properties in the Reserve are equal or “balanced”.  The demand is the number of sold properties plus the number currently under contract (2+4).  The supply is the number of properties currently on the market (6). 

One of the “under contract” properties – 1039 Founders Ridge Lane – went on the market on 2/10/11 for $2,450,000 and went under contract in 11 days.

In contrast, in the postal code area of 22102 overall excluding the properties in the Reserve, 35 properties were listed for sale for $2,300,000+ as of 3/22/11, with 2 under contract and 5 sold.  Thus, the supply is 5 times more than the demand, i.e. not balanced.  

Clearly, at the present time, properties in the Reserve are selling more easily than properties in 22102 outside of the Reserve neighborhood in the same price range ($2,300,000+).

If you have any questions about this or any other post, please contact me at tania@hbgroup.us.

23
Mar
11

McLean, Virginia 22102 Market Analysis – 9/22/10 – 3/22/11

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McLean 22102 Market Analysis

(9/22/10-3/22/11)

The table and chart below compare the number of active listings (the supply) to the number of properties sold or under contract (the demand) in the local real estate market of McLean 22102 by price range for the period from 9/22/10 – 3/22/11.  If you click on either the table or chart, you will get an enlarged view.

Based on the balance, the market can be characterized three ways:

Buyers’ Market – More Active Listings (Supply) than Sales and Under Contract Listings (Demand)

Balanced Market – An Equal Number of Active Listings (Supply) vs. Sales and Under Contract Listings (Demand)

Sellers’ Market – More Sales and Under Contract Listings (Demand) than Active Listings (Supply)

22102 Summary

  • $700,000 – $1,199,999 – Sellers’ Market.   If you factor in the withdrawn and expired listings, this range is closer to balanced.
  • $1,200,000 – $2,499,999 – Buyers’ Market (without factoring in the withdrawn and expired listings)
  • $2,500,000 + – Strong Buyers’ Market
  • $2,500,000 – $2,999,999 – There are 4 times the number of active listings as sold and under contract listings.
  • $3,000,000 and up – There are 3 times the number of active listings as sold and under contract listings.

If you have any questions about the McLean-Great Falls real estate market, please don’t hesitate to contact me at tania@hbgroup.us.

13
Mar
11

Featured Listing in the Reserve – 871 Centrillion Drive, McLean, Va 22102

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Featured Listing in the Reserve – 871 Centrillion Drive, McLean, VA  22102

 The residence located at 871 Centrillion Drive, McLean, Virginia 22102 in the Reserve neighborhood was listed for sale on February 22, 2011.  This gracious southern-style colonial has a large columned balcony and is sited on an ample 1.56 acre meticulously landscaped corner lot.  It is a Yeonas and Ellis New Orlean House model and was built in 2002.  

The entry foyer with its dramatic black granite flooring has a wall of windows which overlooks the backyard.   The main level also features a formal living room with a fireplace, an embassy-sized dining room, a study with floor-to-ceiling cherry bookshelves and paneling, a family room, a light-filled sun room with three walls of windows, a kitchen, a breakfast area and a conservatory.  The well-appointed gourmet kitchen has top-of-the-line stainless steel appliances and opens to the family room with a built-in bar.  The backyard features a patio, a built-in stone and brick pavilion with a ceiling fan, and a dramatic waterfall.

The upper level has a spacious master bedroom suite with a separate sitting area with a fireplace and built-in bookshelves and large his and her bathrooms and walk-in closets.  There are three additional bedrooms with en suite bathrooms and a children’s study/game room on the upper level of this home.

The expansive walk-out lower level is full of wonderful living spaces including: a billiards area, a second family room with a gas fireplace, a built-in bar with a cozy seating area and a second fireplace, an au pair suite, a home gym, a sauna, and a home theatre.

It is in the Churchill Road Elementary, Cooper Middle and Langley High School Pyramid and is currently listed for $3,300,000.

Directions to the home:  From 495, take the Georgetown Pike West exit, take a left on Centrillion Drive into the Reserve neighborhood.  Continue on Centrillion until you reach house number 871.  It is on the left hand side of the road at the corner of Centrillion and Loughran.

Here is a link to the full listing in the multiple listing service:

http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1582934X2DOF&p=DE-135462250-765

If you would like more information about this listing or to schedule a showing of this property (or any other listing in the Reserve), please contact me at tania@hbgroup.us or 703-403-8225.

Below is a slide show of photographs of the interior of the home. 

This slideshow requires JavaScript.

13
Mar
11

Under Contract in the Reserve – 1012 Founders Ridge Ln, McLean, VA 22102

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Under Contract in the Reserve – 1012 Founders Ridge Ln, McLean, VA 22102

The property located at 1012 Founders Ridge Ln, McLean, VA 22102 went under contract on March 11, 2011.  It was originally listed on June 25, 2010 for $6,750,000 then reduced to$6,250,000  on 10/1/10.  It was on the market for days 260.  The appraisal last contingency for this contract expires on April 1, 2011.

Here is a link to the virtual tour for this property:

Link to Virtual Tour of 1012 Founders Ridge

For more information on this listing, here is a link to the complete listing:

http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1582934X2DOF&p=DE-135461488-737

If you have any questions about this listing or any other listing in the Reserve, please feel free to contact me at taniahosmer@gmail.com or 703-403-8225.

12
Mar
11

Reserve Real Estate Newsletter – March 2011

By Tania Hosmer 3 Comments
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Properties For Sale 

Seven properties are currently listed for sale in the Reserve:

7820 Loughran

 

 Link to Photo Slide Show of 7820 Loughran

7820 Loughran is currently on the market for $2,490,000.  It has been on the market for 641 days.  It was originally listed for $2,700,000 on 6/2/09, then reduced to it’s current price on 8/11/10.  There is no sign on the property.  For more information on this listing, here is a link to the complete listing:  
 
 
 
 
 
928 Dominion Reserve 
928 Dominion Reserve is currently on the market for $2,895,637.  It has been on the market for 274 days.  It was originally listed for $2,995,000 on 5/20/10, then reduced to it’s current price on 7/1/10.  For more information on this listing, here is a link to the complete listing:
 
 
  
  
  
  
871 Centrillion
 
871 Centrillion is currently on the market for $3,300,000.  It was listed on 2/22/11 and has been on the market for 12 days.  It was built by Yeonas and Ellis in 2002. For more information about this property, click on the following link to the full listing:
 
 
  
  
  
  
1017 Founders Ridge
 
 
1017 Founders Ridge is currently listed for $4,850,000.  It was listed on 7/9/10 and has been on the market for 240 days.  For more information on this listing, here is a link to the complete listing:
 
 
  
  
  
887 Alvermar Ridge
 
 
887 Alvermar Ridge is currently on the market for $4,980,000.  It was listed on 9/30/10 and has been on the market for 157 days.  For more information on this listing, here is a link to the complete listing:
 
 
  
  
  
1012 Founders Ridge
 
 
1012 Founders Ridge is currently listed for $6,250,000.  It was listed on 6/25/10 for $6,750,00 and then reduced to it’s current price on 10/1/10.  It has been on the market for 254 days.  For more information on this listing, here is a link to the complete listing:
 
 
  
 
 

 

Under Contract Properties

 
Two properties in the Reserve are under contract:  
 
1039 Founders Ridge
1039 Founders was listed on 2/10/11 for $2,450,000.  A contract was received on 2/20/11 after the property was on the market for 11 days.  For more information about this property, here is a link to the complete listing:
 
 
 
 
884 Alvermar Ridge
 
884 Alvermar Ridge was listed on 6/23/10 for $2,995,000.  It was reduced to $2,785,000 on 10/11/10.  A contract was received on the property on 2/19/11 after it had been on the market for 241 days.  For more information about this property, here is a link to the complete listing:
 

 

Sold Properties

 
Two properties sold in the past 6 months in the Reserve:
 
904 Centrillion
904 Centrillion was listed on 8/24/10 for $2,695,000.  On 9/28/10, the price was reduced to $2,475,000.  A contract was received on the property on 10/15/10 after it had been on the market for 56 days.  It settled on 11/15/10 for $2,300,000.  For more information on this property, here is a link to the complete listing:
 
 
 
 
 
1072 Silent Ridge
 
1072 Silent Ridge was listed on 4/16/10 for $2,750,000.  A contract was received on the property on 7/16/10 after it had been on the market for 93 days.  It settled on 9/22/10 for $2,500,000.  For more information on this property, here is a link to the complete listing:
 
23
Feb
11

Under Contract in the Reserve – 884 Alvermar Ridge Drive, McLean, VA 22102

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Under Contract in the Reserve – 884 Alvermar Ridge Drive, McLean, VA 22102

The property located at 884 Alvermar Ridge Drive, McLean, VA 22102 in the Reserve went under contract on 2/19/11 after 241 days on the market.  It was originally listed on 6/23/10 for $2,995,000 and reduced to $2,785,000 on 10/11/10.  The contract is contingent on the sale of the purchaser’s home and expires on 4/20/11.

Below is a link to complete listing:

http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1582934X2DOF&p=DE-134261392-985

If you click on the MLS number, a link to the full listing will open and there is a link to all the photographs and the virtual tour above the photo at the top of the listing.

If you have any questions about this listing or any other listings in the Reserve, please contact me at tania@hbgroup.us.

23
Feb
11

New Listing in the Reserve – 871 Centrillion Drive, McLean, VA 22102

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New Listing in the Reserve – 871 Centrillion Drive, McLean, VA 22102

The property located at 871 Centrillion Drive, McLean, VA went on the market yesterday (Tuesday, February 22, 2011) for $3,300,000.

Below is a link to the full listing for the property:

http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1582934X2DOF&p=DE-134259857-430

If you would like to visit this property or any other listing in the Reserve, please contact me at tania@hbgroup.us.

23
Feb
11

Under Contract in the Reserve – 1039 Founders Ridge, McLean, VA 22102

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Under Contract in the Reserve – 1039 Founders Ridge, McLean, VA 22102

The property located at 1039 Founders Ridge, McLean, VA 22102 in the Reserve neighborhood went under contract on 2/20/11 after 11  days on the market.  It was listed on 2/10/11 for $2,450,000.

Below is a link to the complete listing:

http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=1582934X2DOF&p=DE-134259571-127

If you have any questions about this listing or any other listings in the Reserve, please contact me at tania@hbgroup.us.

19
Jan
11

Status of McLean-Great Falls, VA Housing Market

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I recently posted information on the status of the housing market in the broader McLean and Great Falls, VA area on my other blog site.

Please refer to the link below:

http://mcleanrealestate.wordpress.com/2011/01/19/status-of-mclean-great-falls-va-housing-market/

19
Jan
11

Status of Reserve Listings

By Tania Hosmer 1 Comment
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Here is what has happened in the Reserve since August of 2010:

  • 7820 Loughran is still on the market for $2,490,000.  It has been on the market for 595 days.  It was originally listed for $2,700,000 on 6/2/09, then reduced to the current price on 8/11/10.
  • 928 Dominion Reserve is still on the market for $2,895,637. It has been on the market since 5/20/10 (228 days).  It was originally listed for $2,995,000, then reduced to the current price on 7/1/10.
  • 884 Alvermar Ridge is still on the market. It was originally listed for $2,995,000 on 6/23/10 and was reduced to $2,785,000 on 10/11/10.  It has been on the market for 210 days and is now vacant.
  • 1012 Founders Ridge has been on the market for 208 days. It was originally listed for $6,750,000 on 6/25/10 and then reduced to $6,250,000 on 10/1/10.
  • 936 Dominion Reserve was withdrawn from the market after 167 days. It was listed for $2,850,000 on 7/1/10.
  • 1017 Founders Ridge is still on the market for $4,850,000 (194 days). It was listed on 7/9/10.  There have been no price reductions.
  • 904 Centrillion settled on 11/15/10 for $2.3M after being on the market for 56 days. It was originally listed on 8/24/10 for $2.695M then reduced to $2.475M on 9/28/10.
  • 1072 Silent Ridge settled on 9/22/10 for $2,500,000. It was listed for $2,750,000 for 93 days.
  • 887 Alvermar Ridge Drive has been on the market for 111 days.  It went on the market on 9/30/10 for $4,980,000.  There have been no price reductions.
The good news is that we already hit the bottom of the market in 2009 (according to the Case-Shiller index published in the Washington Post) and the market is recovering in price ranges up to about $2,000,000. We are expecting the higher price ranges to follow.  However, even though the market is in a recovery, it may be a while before market values come back up to peak values. But, in the lower price ranges, there is price pressure up.
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Tania Hosmer

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Tania grew up in Northern Virginia and is a life long resident of the area. She has lived in the Reserve in McLean, Virginia with her husband and 2 children since 2001. Tania and her husband Jim purchased their lot in Section 1 of the Reserve in June of 1999 and built their home in the following 18 months. She holds a bachelor’s degree in Physics from Mary Washington College and an MBA in Finance from The George Washington University. Tania began her real estate career over 20 years ago. In addition to real estate sales, her experience includes managing residential renovation projects in the greater Washington area, planning and overseeing new residential construction and managing rental properties. After completing her MBA in 1996, she joined CIG International (a Washington-based residential real estate investment firm) as Vice President where she conducted extensive due diligence investigations of real estate investment opportunities and oversaw ongoing investment projects. Tania became a residential real estate agent in 2006.

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Tania’s Contact Information:

Tania Hosmer
Keller Williams Realty
6820 Elm Street
McLean, Virginia 22101
cell: 703-403-8225
email: taniahosmer@gmail.com
website: www.taniahosmer.com

Disclaimer:

If your home is currently listed with another broker, this is not intended as a solicitation of your listing.