Arlington Virginia's Best Business Awards 2008 - The Winners!

Every year Arlington residents vote for the Best Business Awards (ABBIES). This year, over 4,000 people voted on their favorites in the following categories. Here are the winners:

Arlington's Best "Bargain" Restaurant
Delhi Dhaba

Arlington's Best Coffee Shop
Murky Coffee

Arlington's Best Customer Service
PetMAC Marketplace and Adoption Center

Arlington's Best Date Restaurant
Carlyle

Arlington's Best Family Friendly Restaurant
Whitlow's on Wilson Bar & Grill

Arlington's Best "Great Neighbor" Business
The Java Shack

Arlington's Best "Green Business"
Whole Foods Market

Arlington's Best Happy Hour
Whitlow's on Wilson Bar & Grill

Arlington's Best Live Music Venue
IOTA Club & Cafe

Arlington's Best Neighborhood Bar
Whitlow's on Wilson Bar & Grill

Arlington's Best New Business
Saffron Dance

Arlington's Best Performing Arts Venue
Signature Theatre

Arlington's Best Place to Dance the Night Away
Clarendon Ballroom

Arlington's Best Place to Find an Unusual Gift
Le Village Marché

Arlington's Best Place to Work Out
Saffron Dance

Arlington's Best Post Theater Spot
Busboys and Poets

Arlington's Best Power Lunch
Harry's Tap Room

Arlington's Best Vintage/Thrift Shop
Goodwill of Greater Washington (S. Glebe)

Arlington's Best Visual Arts Venue
Arlington Arts Center

Arlington's Best Window Display
Crate&Barrel

Congratulations to all of the winners!!

Arlington Virginia Condo Spotlight: The Odyssey

The Odyssey Condominium is located at 2001 N. 15th St in Arlington Virginia. It's just a few short blocks from the Courthouse metro stop. Built in 2005, the building features 306 residential units, 346 parking spots, and a newly added Peruvian-Chinese Restaurant (named Yaku).

Amenities for this luxury high-rise in Arlington include a rooftop pool with views of the monuments downtown, a rooftop gym, community/business room, & more.
Standards for this building include hardwoods, granite countertops, stainless steel appliances, lots of sunlight and a balcony.

If you're interested in more information on this, or any of the condo buildings in Arlington, VA - please feel free to contact me!

Northern Virginia Real Estate Market Update - October 2008

It's Northern Virginia Real Estate Market Update Time! Once again, The Northern Virginia Association of Realtors has published the Year-To-Date Market stats through October 2008 for the following counties and cities: Arlington & Fairfax County, the cities of Falls Church, Alexandria, Fairfax, and the towns of Herndon, Vienna, and Clifton. See stats below:

Total Year to Date Sales
2008: 14,970
2007: 15,778

Total October Sales
2008: 1,457
2007: 1,123

Average Sales Price
2008: $427,402
2007: $520,829

Average Days on the Market
October 2008: 94
October 2007: 89

Absorption Rates (ie. # of months to sell through the current supply of inventory)
October 2008: 6.04
October 2007: 9.23

I'm always available for more statistics for the area, or specific areas. Call anytime: 703.283.6120

How Will the President-Elect Change the Washington DC Real Estate Market?

In short - very little.

It's funny that the Washington Post featured an article todaydiscussing administration changes and their effects on the D.C. and Northern VA real estate markets. I had lunch today with one of my best friends who happens to work in the West Wing - just like her, many of her fellow West Wing-ers will be out of a job as of January 20th. So inevitably I asked, "so...who's helping the big guys transition to the area?"

Her response - "most of them already live here. And the ones that are out of a job in January will stick around."

Quickly deflating my balloon of Hope, I realized that I had just had a "duh" moment. Junior staffers currently working at the White House mostly rent, and the ones that will be coming in will most likely follow suit. As for the Chief of Staff, his Deputy, the rest of the President's Cabinet...they'll probably take jobs with lobbying firms right here in Washington.
While I would love to help President Bush sell his beautiful 1600 Pennsylvania Ave house, looks like he already has a buyer for it.

The greatest effect of the election will be in policies implemented, and any rescue plans he plans to implement to jump-start the economy. In case you're not up to speed, here's a recap of what Obama plans to do to help the housing market as part of economic recovery plan.

Fairlington Real Estate - October 2008

Image a place 10 minutes from the hub of the U.S. - Washington, D.C. - that has a leash-free dog park, family friendly, suburban feel to it...and it's affordable. Well, if you were at this place, I would say: "Welcome to Fairlington Virginia."
Fairlington has it's own community center which features a gym, a library, activies, kid park, etc. The neighborhood has condos and townhomes, all built around 1940s and 50s.

October sales for Fairlington were reported as the following:

12 Total Sales
22 Days on the Market
$395,000 Average Sales Price - but this ranges from 1 bedroom condos, to a 3 bedroom, 3 bath townhouse

There are several properties on the market in Fairlington right now, and I am happy to show you any of them. It's a great place to live, and a great place to invest. Rents can range from upwards of $1,200 and short sales and bank owned properties are VERY hard to find - i.e. prices are stable and they retain their values. The metro is just a short bus-ride away.

Give me a call for more information - 703.283.6120

Clarendon Earns Nationwide Praise

The front page article of this month's "The Citizen," Arlington's local newspaper reveals what the locals know: Clarendon is One of the "Great Places in America!" This time, the praise comes from the American Planning Association (APA).

Honors were also given to Wilson and Clarendon Blvd - Wilson is a one-way street East towards Washington, Clarendon is the counterpart one-way street heading West - for "Great Streets" in America.

I did a blog in September about CNN's rankings for Arlington County - and this article gives even more praise. Clarendon earned this years ranking for the following reasons:

1. 50% of residents walk, bike or use the metro to get to work

2. 20% of residents don't own a car

3. The above-average use of metro systems

4. All of the revitalization of the area..

..There are so many reasons Clarendon and Arlington in general are great places to live...call me for more information!

Neighborhood Spotlight: Ashton Heights in Arlington VA

There are so many great neighboroods in North Arlington that it's hard not to have something good to say! Originally created around 1910, it's come a long way...in fact, it Ashton Heights was: Voted "Greenest Neighborhood in Arlington" for 2007. Located near the Ballston/Virginia Square Metro stations, it's right in the heart of Northern Arlington. See the map below for boundary locations: Glebe, Irving, Rt 50, Wilson, and 10th.

Taking a look at the past 6 months of sales in the area, we see the following:

4/1/2008 - 10/30/2008
# of Closed Sales: 13

Average Sales Price: $654,687
Range: $500,000 - $872,000

Average Days on the Market: 78

4/1/2007 - 10/30/2007
# of Closed Sales: 18

Average Sales Price: $814,584
Range: $525,000 - $1,380,000

Average Days on the Market: 59

It appears that these samples are very different. The sales price this time last year was higher, but the sample size was weighted heavily towards the upper end. The days on the market is consistent with the general North Arlington market - about 2.5 months.

Cherrydale Virginia Real Estate - Year to Date Sales

Back in August I did a blog introducing you to the history of Cherrydale. Today, I wanted to take a closer look at the real estate trends in the neighborhood. I've pulled numbers from April 1, 2008 to present, and am comparing the numbers to the same time frame of 2007 (4/1/07 - 10/30/07). Let's take a look at how the numbers shape up:

April 1, 2008 - October 30, 2008
# of closed sales: 11
(Currently Under Contract: 2)

Average Sale Price: $1,002,607
Sale Price Range: $625,000 - $1,350,000

Average Days on the Market: 73

April 1, 2007 - October 30, 2007
# of closed sales: 13

Average Sale Price: $923,599
Sale Price Range: $400,000 - $1,678,443

Average Days on the Market: 44

Given that the range of 2007 is greater, it's not surprising that the average sale price was lower than it is thus far this year. The biggest difference comes with days on the market: a 66% increase in the amount of time it takes for something to go under contract.

How do we interpret these stats? I think they're indicative of the entire North Arlington real estate market - stable, but a little slower. The bigger houses (those around and above $600k) are taking longer to sell - and it's no wonder since jumbo money is so tight and hard to come by these days. BUT...and this is a big BUT...things ARE selling. North Arlington with it's proximity to the District and job stability, hasn't seen a large decline in overall prices. Small dips here and there, but as you can see - the numbers do not lie!!

Looking for more specific information? Feel free to call or email: Laura.Rubinchuk@kw.com or 703.283.6120. I'm always available to chat!

Arlington Neighborhood Spotlight: Lyon Village

Another historic neighborhood of Arlington, Lyon Village, is located near Clarendon. Bordered by Lee Highway, Wilson Blvd, Veitch and Kirkwood Roads, Lyon Village is known for it's suburban feel of tree-lined streets and 1920s and 1930s mix of single family homes. The neighborhood is also just a few blocks from both Clarendon and Courthouse metro stations.

The community has it's own park, located at 1800 N. Highland St. The park has a basketball court, tennis courts, picnic tables, playground, and a spray park in the summertime for kids.

Home Prices in Lyon Village:
Currently, there are 5 properties for sale in Lyon Village. Prices range from $750k to $2.7M

Recent sales in Lyon Village:
2 Condos and 10 Single Family Homes
4 Bedroom homes on average sold for $915k
5 Bedroom homes on average sold for $1.28M

There is so much information on this neighborhood, and Lyon Park, I am more than happy to provide more details. Feel free to contact me anytime.