Potomac Yard | Del Ray | Old Town Alexandria Real Estate News

Feb. 1, 2018

Old Town Alexandria VA Real Estate Market Report Jan 2018

In December 2017, home prices in Old Town Alexandria averaged $739,827, just over $12,000 above the 5-year average of $727,689.

With many historic and waterfront homes in the popular zip code of 22314, Old Town Alexandria's real estate prices are predictably higher than the overall average of Alexandria City.  Developers are clearing away older homes and bringing new construction condos and luxury rowhomes, satisfying the continuous buyer demand for homes close to metro and in a walkable community.

Property listings came in like a lion in 2017.  In January there were 111 active listings, then volume shot up to 133,163, then 189 in the next consecutive months.  The number of active listings peaked at 200 in October, then fizzled out to 145 in December.

What If I'm Selling My Home In Old Town Alexandria?

Throughout the year, it was a sellers market, with the month's total supply of homes barely breaking three months.  In April the month's supply of homes was 3.1 and in October it was 3.03, making is very appealing for home sellers.  Also, for ten months in the year, the median days on market was under one month.  So, if you were selling your Old Town Alexandria home in 2017, the odds of you selling quickly were very high.

What If I'm Buying a Home In Old Town Alexandria

Cash is king.  Of the 811 homes that sold in 2017, 130 buyers paid with all cash, and 538 used conventional financing, which usually comes with a sizeable down payment.  Surprisingly, there were 99 home sales that were completed with VA financing.  With VA financing, there is no down payment requirement for purchases under $417,000, however, in the luxury price range buyers will have to make a small down payment.  Experienced lenders have the best mortgage programs, and with homes flying off the market within a month, buyers would be wise to have their mortgage approval secure prior to beginning their search.

Find Out More Today

If you are wondering what your Old Town Alexandria home is worth, take a quick minute and use our free online calculator.  Each home in Old Town is different, whether it's historic, newly built, along the Potomac River waterfront, or steps to the Braddock Road or King Street metro.  It's always best to have an experienced Old Town Alexandria VA listing agent to take a look for an accurate analysis.

          Search for homes in Old Town Alexandria VA     Whats My Home Worth

 

 

Jan. 31, 2018

Del Ray Alexandria VA Real Estate Market Report Jan 2018

Del Ray Average Home Price for December 2017 - $716,053

When gauging the real estate market activity for Del Ray, December's average sales price of $716,053 is just slightly below the five-year December average of $721,074.

 

The Del Ray home values are consistently above the average sales prices of Alexandria City.  Take a look at the interactive chart below for a visual of the disparity in average sales prices.  With a limited number of condos, many homeowners and investors seek out Del Ray's older rowhouses and duplexes to renovate them, adding contemporary finishes and sometimes additional square footage.  

 

 

One of the biggest influences on home prices in Del Ray is the lack of inventory, or low supply of homes on the market.  Take a look below at the number of 'Active' listings in 2017, in the last half of the year, the number of properties on the market took a nose dive and never bounced back.

 

April and June 2017 saw record highs of 38 'Active' listings on the market at a time, while in December, buyers had only 12 properties to choose from in their search.  

What If I'm Selling My Home In Del Ray?

With less than one full month of inventory, homeowners have a far superior advantage. On average, homes stayed on the market for 43 days in December, and home sellers accepted an 99.4% of their original asking price for homes.

What If I'm Buying A Home In Del Ray?

Bank foreclosures and even short sales are non-existent in Del Ray.  So if you're thinking about snagging a below-market find, you'll have to venture out to other parts of Alexandria City.  Of the 282 homes that sold in Del Ray in 2017, 44 of them were purchased using VA financing so active duty military and veteran service members took advantage of their VA loans in the area.

Find Out More Today

If you are wondering what your Del Ray home might be worth in today's real estate market, use our online home value estimator right now.  Each home in Del Ray is unique, with different styles and degrees of renovation, so be sure to give me a call at 703-623-8759 for the most accurate market evaluation of your home and if you're looking to sell in the next 3-6 months.

    See all homes for sale     Get your home value now

 

 

 

Dec. 6, 2017

Why Is There So Much Paperwork Required to Get a Mortgage?

Why Is There So Much Paperwork Required to Get a Mortgage?

Why is there so much paperwork mandated by the lenders for a mortgage loan application when buying a home today? It seems that they need to know everything about you and requires three separate sources to validate each and every entry on the application form.

Many buyers are being told by friends and family that the process was a hundred times easier when they bought their home ten to twenty years ago.

There are two very good reasons that the loan process is much more onerous on today’s buyer than perhaps any time in history.

1. The government has set new guidelines that now demand that the bank proves beyond any doubt that you are indeed capable of paying the mortgage.

During the run-up to the housing crisis, many people ‘qualified’ for mortgages that they could never pay back. This led to millions of families losing their home. The government wants to make sure this can’t happen again.

2. The banks don’t want to be in the real estate business.

Over the last seven years, banks were forced to take on the responsibility of liquidating millions of foreclosures and also negotiating another million plus short sales. Just like the government, they don’t want more foreclosures. For that reason, they need to double (maybe even triple) check everything on the application.

However, there is some good news in the situation.

The housing crash that mandated that banks be extremely strict on paperwork requirements also allowed you to get a mortgage interest rate around 4%.

The friends and family who bought homes ten or twenty years ago experienced a simpler mortgage application process, but also paid a higher interest rate (the average 30-year fixed rate mortgage was 8.12% in the 1990s and 6.29% in the 2000s).

If you went to the bank and offered to pay 7% instead of around 4%, they would probably bend over backward to make the process much easier.

Bottom Line

Instead of concentrating on the additional paperwork required, let’s be thankful that we are able to buy a home at historically low rates.

     Search for homes   What's your home worth?
Posted in Buyers
Dec. 6, 2017

Tamara Inzunza Completes Referral Building Course

FROM: RE/MAX EXECUTIVES                                       CONTACT: TAMARA INZUNZA
           2104 Mt Vernon Avenue                                                   703-623-8759
           Alexandria, VA 22301

TAMARA INZUNZA
COMPLETES CUSTOMER SERVICE REFERRAL-BUILDING COURSE FOR THE RESIDENTIAL SPECIALIST

 

CRS 210 Virginia Beach

Alexandria, VA - December 6, 2017 --- Tamara Inzunza has just returned from Virginia Beach, VA where she completed a highly specialized course in customer service referral-based business conducted by the Council of Residential Specialists of the NATIONAL ASSOCIATION OF REALTORS.

This course is in a series of professional education sequences required to qualify for the coveted Certified Residential Specialist (CRS) Designation.

The course covered the implementation of specific ideas to add value to and enhance the delivery of exceptional customer service, both during and after the buying and/or selling of a home.

During the two-day course, students actively participated in the hands-on development of plans and programs designed to ensure the professionalism of the residential sales associates.

"I earned my CRS designation back in 2003, but my commitment to learning has not faded," said Inzunza.  "With things like identity theft, hacking, and the constant barrage of entities trying to get your personal information, more and more people want to work with a Realtor that they trust, or has been referred by someone who they trust. Since my business is relationship-based, I want to do everything I can to continue to stay in touch with my past clients, but also provide value by helping them keep track of their property values and sharing what's going on in the real estate market, the economy, and how it affects them.  When I attend these classes, not only do I learn great information from the instructor, but also from seasoned agents from across the country, who afterward become part of my professional network.  When I have a client who is relocating or PCSing for the military, I want to make sure that I refer them to a Realtor who follows the same service track.  I can't wait to put these strategies in place in my work at RE/MAX Executives."

The Council of Residential Specialists Courses are presented throughout the U.S. in affiliation with the NATIONAL ASSOCIATION OF REALTORS, as part of its ongoing program of promoting the professionalism of the residential sales associate.

 

Aug. 7, 2017

Top 12 Apps For Homeowners and Renters

top 10 apps

We won't leave home without it.  We tuck our smartphones in our pockets, and throw our tablets in our purses. More than 77 percent of people own a smartphone.1 The average person checks their smartphone 46 times a day, with people under the age of 24 checking it an average of 74 times a day.1 We check it while we’re waiting in line and during our leisure time, whether we’re scrolling through social media, reading emails or getting up-to-date on the latest news.

Smartphones are not only a useful tool for communication. With the following apps, you can get organized (whether you plan to buy or sell), save money, learn about the homes in your neighborhood and get inspired for your next renovation project. If you’re like 81 percent of people, you have your smartphone with you during most of your waking hours; let it help you stay organized and make your life easier.3

 

Apps For Homeowners: Get Renovation Inspiration

These apps not only offer ideas for your next remodel or home décor project, some of them even give you a preview of what your home may look like once it’s finished.

1.) Houzz (Free and a Monumental Favorite of Mine!)

The Houzz app is the number one app for home design and it’s no wonder; the app gives you access to all the inspiration, blogs and design ideas from the Houzz site on your phone or tablet. The app features View in My Room 3D, which allows you to view products in your home before you buy. Just take a photo of the space and a 3D version of the product will appear. Browse products, save photos of designs you’d like to view later and connect with local professionals in your area. Whether you’re gathering ideas for your next renovation and décor project or you’re just browsing, the Houzz app will satisfy all your design needs.

(Android, iOS)

2.) iHandy Carpenter ($1.99)

Make sure the photos, shelves, mirrors and other artwork you hang are even and aligned with this helpful app. It’s an all-in-one tool kit that features a plumb bob, surface level, bubble level bar, ruler and protractor. No need to purchase these tools separately; just hold your smartphone up to the wall and the app will take care of the rest.

(iOS, Android)

3.) Color911 ($3.99)

If you’re thinking of changing the color scheme of your home or want to find the right shades for lamp shades, rugs or throw pillows to match your vintage sofa, the Color911 app provides pre-selected color palettes to match any color scheme. Take a photo of the room or the furniture and the app will create a custom palette full of complementary colors. Write notes about your palette and organize it all into folders to share with family, friends or your design professional.

(iOS)

Bonus Apps for Homeowners:

AroundMe (Free - A Monumental Favorite of Mine!)

Hungry and looking for a local hotspot? Meeting friends at a coffee shop nearby? Or just need to find the closest ATM? AroundMe allows you to search for the nearest restaurants, banks, gas stations, book a hotel or find a movie schedule close to where you live. Open the app and start learning more about your neighborhood. (iOS, Android, Windows)

BrightNest (Free)

From keeping things clean to making them colorful, Brightnest, developed by Angie’s List, is loaded with suggestions on how to make your home a better place to live. With categories of customized tips (money-saving, cleaning, eco-friendly, healthy, cooking, and creative) there are plenty of great ways to pull inspiration from the app. BrightNest will help you tackle important home tasks with easy-to-follow instructions, a personal schedule and helpful reminders. (iOS, Android, Web)

 

Apps For Sellers: List & Sell Your Home Quickly

Are you a homeowner who is thinking of selling? If you’re preparing to sell, you know there are a lot of tasks to complete before putting your home on the market. These apps help you manage your to-dos so you can list and sell your home more efficiently with fewer distractions.

4.) Homesnap (Free)

Using the Homesnap app, you can snap a photo of any home, nationwide, to learn more about it. When you’re ready to sell, snap a few of the homes in your neighborhood to find out their valuation. This app isn’t perfect, which is why you should always consult with a local real estate agent. However, it can give you a general idea of the value of your home compared to others in the neighborhood. (iOS and Android devices)

5.) Docusign (Free - A Monumental Favorite of Mine!)

Use the DocuSign app to complete approvals and agreements in hours—not days—from anywhere and on any device. Quickly and securely access and sign any documents. The benefit to using the app (over your desktop computer) is you will receive push notifications when a document is waiting for your signature and you can view and organize all your docs on-the-go. Using the easily downloadable app, receive and sign documents for free. You can receive and sign documents for free, but will need a paid account to send documents; pricing starts at $10 a month. (iOS, Android, Windows, Web).

6.) Wunderlist (Free)

Designed for use on the Web and mobile devices, Wunderlist is a well-designed to-do list and task management program that makes it easy to create a list and add tasks, due dates and reminders. Organize your ideas or focus into separate lists or create tasks within one list. You can also email them with whomever you collaborate, such as a spouse or your real estate agent. (Android, iOS, Windows Phone, Web)

Bonus App for Sellers:

Real Estate Dictionary (Free)

Not sure what all those industry specific terms mean? Search thousands of words and phrases from real estate, mortgage, and financial dictionaries for clear, in-depth definitions. This is a handy app for anyone who’s buying or selling and wants to learn more about the process. (iOS, Android)

 

Apps For Renters: Get Ready to Buy

Not ready to buy a home just yet? These apps will help you get into the perfect rental while you save money, build a budget and get on track for homeownership.

7.) Mint (Free)

Do you know where your money goes each month? Manage your bills, budget and credit score all in one place. Mint is a free app that helps you view your complete financial picture and track your spending. We recommend this app to anyone, but it’s especially useful for renters who need to crack down on their spending in order to save for a down payment. Use Mint to look for areas you can cut spending in order to save a little extra each month. (iOS, Android)

8.) Acorns ($1 a month to start)

Acorns is modernizing the practice of saving loose change with their automated savings tool. The app rounds up your purchases on linked credit or debit cards, then sweeps the change into a computer-managed investment portfolio. Acorns is free for four years for college students and everyone else pays $1 a month until their account balance hits $5,000, then 0.25% of their account balance per year. This is a useful tool for those who have a hard time saving. (iOS, Android)

9.) Neighborhoods & Apartments

Built for the on-the-go apartment hunter, this app from Walk Score takes the hassle out of finding your next home or apartment and helps you live near the people and places you love. They collect listings from top rental listing sites and we like them because they share how walkable each address is, determined by access to public transit, things to do, bike trails, shorter commutes, etc. (iOS, Android)

Bonus Apps for Renters:

Wally (Free)

Wally is a personal finance app that helps you compare your income to expenses, so you can understand where your money goes each month, and set and achieve goals. Wally lets you keep track of the details as you spend money: where, when, what, why, & how much. We love how simple it is to set a personalized savings target and scan receipts. (iOS, Android)

Credit Karma (Free - A Monumental Recommendation For Shy Future Buyers!)
If you’re preparing to buy, boosting your credit score is likely a goal you’ve set. Credit Karma is a free app that allows you to safely monitor your score and receive updates on ways you can improve it over time. They provide financial calculators and educational articles to help you better understand what credit is all about. Check as often as you want, and it doesn’t hurt your score.  (iOS, Android, Web)

 

Apps for Buyers: Find the Perfect Home

When you’re ready to buy, there are several apps that can help you stay on top of the process. Whether you’re browsing online at different neighborhoods and homes and can’t seem to remember where all your saved data and information went or you want to save an important task or a neighborhood or listing clipped from the Web, these apps help you keep it all straight.

10.) Dwellr (Free)

Dwellr is run by the U.S Census Bureau and provides demographic information about the neighborhoods you are considering moving to. You get a variety of education/school, real estate, transportation, and population statistics to give you an idea of what it would be like living there. If you want to get the feel of a potential neighborhood, then Dwellr may just be the app to help you find the best home.  (iOS, Android)

11.) Evernote (Free for the Basic version, $34.99 per year for Plus and $69.99 per year for Premium)

Collect ideas, notes and images in one place to access later on your computer, tablet or smartphone. Categorize your notes so you can find them quickly and easily and share them with others in a group notebook. Add the Web Clipper feature to your browser and clip and save articles, blogs and images from the Web. Whether you’re collecting research on a business idea or you’re looking for inspiration for a home renovation, Evernote can help you keep it all together. (Web, iOS, Android)

12.) Mortgage Calculator (Free)

There are a lot of free mortgage calculators available for download that will help you quickly determine what your monthly payment will be while you’re house hunting. We recommend picking your favorite and using it to help you shop in your price range. These numbers should be used as a guide, work with your agent and mortgage professional to learn exactly what type of loan you’ll qualify for. (Web, iOS, Android)

Bonus App for Buyers:

Google Maps (Free)

Google Maps is a must-have for anyone who’s house hunting. When you’re ready to visit a property or check out a neighborhood, you can use Google Maps to give you turn by turn directions to the house. You can use their satellite view to get a good idea how far important things like schools, parks, shopping, bus stops, and restaurants are to a home you are interested in and check out the other houses on the street. (Web, Android, iOS,)

Ready to move beyond the app?

If you’re thinking of buying or selling your home, or know someone who is, keep us in mind because we’re happy to help!

Source: 1. Pew Research Center, January 12, 2017 http://www.pewresearch.org/fact-tank/2017/01/12/evolution-of-technology/

           2. Deloitte, 2016 global mobile consumer survey: US edition https://www2.deloitte.com/us/en/pages/technology-media-and-telecommunications/articles/global-mobile-consumer-survey-us-edition.html

 

3. Gallup, July 9, 2015 http://www.gallup.com/poll/184046/smartphone-owners-check-phone-least-hourly.aspx

Posted in Fun
July 27, 2017

Just Sold Kingstowne | 6591 Hickman Terrace

6591 hickman terrace sold

Another homeowner in Kingstowne can say 'adios' as retirement calls and a hot real estate market favors selling.  After living in Kingstowne for years, they were finally curious about what their home was worth and were referred to me from past clients. We met and completed a Room-by-Room review where each room was inspected and I provided guidance for repairs and presentation.  After two weeks of market prep, this beautiful home was listed!

This home went under contract in 13 days and sold for full asking price, with a seller subsidy of $12,000.  Because the sellers were diligent with their home maintenance, the home inspection was a breeze.  The marketing of this property included targeted online marketing with Facebook ads, blogging, and Craigslist.  We also agreed to an open house when discussing the marketing schedule.

The buyer for this home saw the home advertised online, drawn to the professional photos, no doubt, and later scheduled a showing with his buyer agent.  After coming to the open house for a second look, it was clear that this was the one.

If you currently live in Kingstowne, you should know that the average days on market for homes for sale in May was 6 days, and in July was 8 days.  In both May and June, Kingstowne homeowners averaged 100% of their original asking price when selling their homes.  Now is a great time to sell if you're thinking about it.  Just give me a call today at 703-623-8759 to schedule your in-home listing appointment.

 

                 

Posted in Just Sold
June 21, 2017

2017 Summer Buyer and Seller Guides Just Released!

2017 Summer Buyer and Seller Guides Just Released!

So much information, so little time. Are you in the market to buy a home in Alexandria VA this summer? If so, then you'll want to get your FREE copy of our Summer 2017 home buyer guide.  We've put together the nitty gritty on homebuying to educate you on the process.  Here are some of the hot topics in this summer's edition:

  • Five Reasons Why Home Ownership is a Good Investment
  • Two Myths that can Hold You Back From Buying
  • Getting a Mortgage: Why So Much Paperwork
  • Ready to Make an Offer? Four Tips for Success

With housing inventory in Alexandria, Arlington, and Fairfax County at a shortage, there are many homeowners who also have questions about selling.  Selling your home in a seller's market may seem like it's quick and easy money, but it's not all about the zesty estimates and waiting for the buyer.  Our seller's guide touches on a few topics including:

  • Looking For a Luxury Home? Now's the Time to Act
  • How to Get the Most Money from the Sale of Your Home
  • The Role Access Plays in Getting Your Home Sold
  • Where are Interest Rates Headed

If you're not quite ready to talk to an experienced real estate agent about your next move, download these guides first. Simply click on the images below (and don't forget to share them with your friends!)

 

 

                           

April 6, 2017

Coming Soon | Loft Condo In Kingstowne

Coming Soon - Loft Condo In Kingstowne
6822 Brindle Heath Way

 

 

 

 

  • List price: $314,000
  • Two bedrooms / two full baths
  • Wimbledon model
  • Gas fireplace in living room
  • Upgraded kitchen with Whirlpool stainless steel appliances, tile flooring, granite countertops
  • Second bedroom and full bath on upper level
  • Sliding glass door to private deck overlooking trees

Call Tamara at 703-623-8759 to schedule a showing of this home.

           

 

March 10, 2017

Spring 2017 Home Buyer and Seller Guides Just Published

Spring 2017 Home Buyer and Seller Guides
Just Published

Spring 2017 Home Buyer and Seller Guides

We know that when it comes to buying or selling a home, there's a lot of information out there.  Sometimes, you may not know where to start.  That's why we've created these informative Buyer and Seller guides.

What's in the Spring 2017 Buyer Guide for me? The spring time is historically the most challenging time for buyers to get into the real estate market. Year over year, home prices peak during this season, so you must educate yourself on how to prepare for this market.  You'll find topics such as:

  • The cost of renting vs buying
  • What you need to know about the mortgage process
  • Making an offer - 4 tips for success

What's in the Spring 2017 Seller Guide for me? While this is typically the 'prime-time' for homeowners to sell their homes, there's still lots of good information to help ensure your success.  Believe it or not, just because it's springtime, doesn't mean that your house will sell in a day, or even in a weekend.  You must prepare yourself and your home for today's buyer.  Helpful topics include:

  • Where are interest rates headed
  • The role access plays in getting your home sold
  • Lack of listings slowing down the housing market

To get your free guides, just click on the images below!

 

 

                             

Posted in Buyers, Sellers
Dec. 15, 2016

Two Bedroom Condo For Rent in Grove at Arlington

Two Bedroom Condo For Rent in Grove at Arlington
2321 S 25th Street #208

The Grove at Arlington Conods

The weather is cooling down, so wouldn't it be nice to live in this beautiful 2BR/2BA condo with TWO garage parking spaces?! Conveniently located just off of I-395, The Grove at Arlington is a luxurious condo community close to Shirlington, Del Ray, Old Town, Pentagon City, and DC.

This spacious home has a kitchen with granite countertops, stainless steel appliances, and ceramic tile floors. The living room and dining area have hardwood floors, and there is a private balcony overlooking the courtyard. Both bedrooms have walk-in closets and oversized baths.

The Grove at Arlington includes secure building entry, garage parking, and elevators.  This unit is located on the second floor and includes a full sized washer/dryer.  Pets will be considered on a case-by-case basis, and this home will be available for occupancy on January 1, 2017.

For more details or to schedule a showing, call Tamara Inzunza, with RE/MAX Executives at 703-623-8759.

      Search for Homes    What's Your Home Worth?

 

 

 

Posted in Arlington VA, For Rent