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

Oct. 28, 2009

Alexandria VA Short Sale | Price Reduction | Condo At Midtown At Alexandria Station

Alexandria VA Short Sale | Price Reduction | Condo At Huntington Metro
Midtown At Alexandria Station
2451 Midtown Avenue #1515, Alexandria VA 22303

Midtown Alexandria Station

Midtown at Alexandria Station condos is a fairly new subdivision with luxurious and contemporary building amenities including:

* - state of the art internet cafe

* - high-tech gym/fitness center

* - outdoor pool, jacuzzi

* - outdoor kitchen

* - party room

* - concierge service

* - secure building entry

* - covered garage parking

Not to mention that it is directly across the street from Huntington metro at the end of the yellow lineUnit 1515 is available for resale as a short sale, pending lender approval.  There is only one lender involved with the sale of this Alexandria VA condo, and the short sale process has already been started, BPO bank appraisal has been done, lender just needs a buyer who wants to fairly new condo priced thousands below the other units for sale at Midtown at Alexandria Station.

Please note that current builder sales are restricted to owner-occupants only.  This is a unique opportunity for an investor to purchase right now.  Midtown at Alexandria Station is an FHA approved subdivision.

                     

Posted in Buyers, FHA, Short Sales
Oct. 28, 2009

Another Homeowner Saved From Foreclosure | Alexandria VA Short Sale Condo Approved

Another Homeowner Saved From Foreclosure |
Alexandria VA Short Sale Condo Approved
4854 Eisenhower Avenue #248 Alexandria, VA 22304

4854 Eisenhower Avenue #248

4854 Eisenhower Avenue #248

That's two short sale approvals granted this month listed by Tamara Inzunza (Alexandria VA CDPE listing agent)!  Perhaps the banks were working overtime to get short sales approved because of the First-Time Home Buyer Tax credit, that we now know will be extended, pending inking the deal by President Obama.  At any rate, this is a win-win situation for buyer, seller, and buyer agent.

See also: Short sale approval granted for 4852 Eisenhower Avenue #341

           

                                  

Posted in Buyers, Sellers, Short Sales
Oct. 26, 2009

Alexandria VA (City) Real Estate Market Snapshot Report October 09

Alexandria VA (City) Real Estate
Market Snapshot Report October 09
Condo Inventory Getting Lower Detached Inventory On The Rise

Alexandria City Actives History Ending Oct 4 09

The number of condos for sale in Alexandria VA is on the decline according to the latest figures.  As you can see, more condos are getting absorbed by buyers, whereas the inventory for townhouses and detached homes for sale has recently started to increase.  Here are the numbers for homes actively on the market in Alexandria City over time:

 

Jul 6, 09

Aug 3, 09

Sep 7, 09

Oct 4, 09

Condos

236

234

229

215

Townhouse/Duplex

178

156

159

164

Detached

92

82

73

86

When we look at the homes that are under contract, this means that buyers who are actively looking at Alexandria VA real estate and homes for sale have chosen these homes, written a winning offer, and the seller has accepted.  They have not yet settled, but they were chosen for one reason or another (could be price, condition, or location!) and are no longer on the active market.

Alexandria City Under Contract Ending Oct 04 09

Understandably, if the inventory for condos is going down, then that means that the number of contracts is going up.

 

Jul 6, 09

Aug 3, 09

Sep 7, 09

Oct 4, 09

Condos

74

86

81

99

Townhouse/Duplex

63

86

69

62

Detached

40

32

21

30

Noticeable spikes can be seen in the condo activity, an increase in the number of contracts accepted from 81 to 99 from August to September.  Whereas the contract activity on the townhouses peaked at 86 and took a sharp decline down into the 60's.  Activity on the detached homes was finally on the upswing after a consistent decline in the past few months.

Are you in the market for real estate and homes for sale in Alexandria VA?  Then be sure to click on the following links to get a list of homes for sale in the MLS.

Condos for sale in Alexandria VA

Townhomes for sale in Alexandria VA

Detached homes for sale in Alexandria VA

                               

Posted in Market Reports
Oct. 24, 2009

Fun Halloween Events In Alexandria VA October 2009

Frightfully Fun Halloween Events In Alexandria VA
October 2009

Creepy Pumpkin
For all of you witches, ghouls, and goblins looking for a spooky party or haunting event that just may scare your socks off, check out these fun filled events in and around Old Town Alexandria VA this Halloween 2009:

  • Old Town Halloween Tour - 18th century costumed guides lead you by lantern with ghost stories, legends, and folklore about colonial Alexandria.  October 30, 31 @ 6:30-9:00 PM. King and Fairfax Streets, reservations suggested. 703-519-1749
  • Poe in Alexandria at The Lyceum - A recreation by actor David Keitz of Poe's visit to Virginia in 1849, includes recitations from "The Raven", "Annabel Lee", "The Tell-Tale Heart", and many others. October 30-31, 8-10 PM, 201 S. Washington Street. 703-838-4994
  • Woodlawn's Haunted History - Tour "one of the most haunted plantation houses in Virginia." Guests will hear the tales of Woodlawn's "other worldly" in habitants while experiencing the history of the mansion's past.  Come explore this unique site and visit areas normally closed to the public.  October 30-31. Tours from 6:00- 8:40 PM every 20 minutes. Reservations required. 703-780-4000 x26327. Admission fee required.
  • Ghost Walk in Washington D. C. - Among the historic streets, manicured gardens, and Victorian row houses of DC's finest neighborhood, lies deep, dark secrets about a forgotten past.  Come along to hear about the ghosts and spirits that still haunt our fine little city...if you dare. Daily. DCGhostTours.com

           frightfulforeclosures Scary Short Sales   Sell Your Spooky Mansion

Posted in Fun
Oct. 23, 2009

Old Town Alexandria VA Real Estate Video Tour

Posted in Videos
Oct. 23, 2009

Alexandria City News Release: Money Granted For Home Buyers From VHDA

Alexandria City News Release: Money Granted For Home Buyers From VHDA

Positive new indeed for those looking to buy a home for sale in Alexandria City.  From the City of Alexandria:

News Highlights:

  • City of Alexandria has been awarded $7.7 million for affordable homeownership programs
  • These funds will be used to enhance homeownership purchasing assistance for first-time home buyers who live or work in the City of Alexandria.

For More Information:

The City of Alexandria has been awarded $7.7 million from the Virginia Housing Development Authority (VHDA) to help make homeownership more affordable for households with members who live or work in the City. This funding is being provided through VHDA’s Sponsoring Partnerships and Revitalizing Communities (SPARC) Program. 

The funding will be used in conjunction with the City’s Homeownership Assistance Program, which assists lower income households with annual incomes of up to $82,160 for a family of four, and Moderate Income Homeownership Program, which assists households with incomes of up to $102,700 for a family of four.  SPARC funding will be enhanced with $936,955 in federal funds from the Neighborhood Stabilization Program, which targets communities that have been most affected by foreclosures.

“These funds provide an important complement to the City’s home purchase assistance programs,” said Alexandria Mayor William Euille. “The City has a long history of helping first-time homebuyers and we are dedicated to making homeownership both achievable and affordable for lower and moderate income City residents and workers.”
 
Individuals who wish to apply for assistance through the City’s homeownership programs must be first-time homebuyers, must have lived or worked in the City during the most recent six month period, and must purchase a home located within the City of Alexandria. All funds are limited, so interested households are encouraged to begin the process by registering to participate in a mandatory, free homeownership training offered through the City’s Office of Housing. For more information, call the City of Alexandria’s Office of Housing at 703.746.4990, TDD: 703.838.5056.

 

Posted in News
Oct. 20, 2009

Dinner In Del Ray and Old Town Tonight? Eat Out and Help Fight Breast Cancer

Dinner In Del Ray and Old Town Tonight?
Eat Out and Help Fight Breast Cancer

The Cure

 

Tuesday, October 20th is the Dine Out and Shop for the Walk to Fight Breast Cancer. Here is a link to the flyer that has the participating restaurants and shops in Del Ray, Fairlington, Old Town and the west end, that shows the percentage of their proceeds they are donating to The Walk. You can eat and help out Alexandria VA Walk to Fight Breast Cancer at the same time!

Posted in Businesses, News
Oct. 9, 2009

Alexandria VA CDPE Listing Agent Helps Owner Obtain Short Sale Approval On Condo For Sale

Alexandria VA CDPE Listing Agent Helps Owner
Obtain Short Sale Approval On Condo For Sale

4852 Eisenhower Avenue #341

4852 Eisenhower Avenue #341

Nobody gets excited when the reality sets in that foreclosure is possible.  But one of the biggest mistakes distressed homeowners make is waiting too late to get help.

This Alexandria VA condo for sale at the Exchange at Van Dorn, just received short sale approval from the lender!

According to the Distressed Property Institute, roughly seven out of ten foreclosures could have been salvaged as short sales. Meaning higher property values for the community, reduced foreclosure inventory, and a homeowner that would have prevented a foreclosure on their credit report.

If you own real estate in Alexandria VA and are having difficulty making your monthly mortgage payment, you may qualify to sell your home through a short sale.  For more information and a confidential consultation, please click here, or email me directly.

Not all Alexandria VA listing agents are alike.  When it comes to helping homeowners in distress, listing Alexandria VA short sales, marketing, and negotiating directly with lenders, make sure that you contact a CDPE listing agent who has been specifically trained in short sale education.

Contact Your Alexandria VA Short Sale Specialist

Posted in Buyers, Sellers, Short Sales
Oct. 8, 2009

Alexandria VA First-Time Buyers Watching The Clock As Tax Credit Deadline Nears

Alexandria VA First-Time Buyers Watching The Clock As
Tax Credit Deadline Nears
Everybody wants to know whether or not the $8000First-Time Home Buyer Tax Creditwill be extended, and at this point, it's still in the air.  Right now, no one can say for sure if Congress will extend the deadline for the tax credit, increase it, or even make it permanent.

But the deadline is near andAlexandria VAhome buyers have little time left to identify acondo,townhome, orsingle-family home.  We're now in the second week of October, and November 30 is a little over a month and a half away.  Realistically speaking, if your goal is to take advantage of the tax credit, then you need to look aggressively atAlexandria VA real estate, identify the property and submit a written offer, and be under contract by October 15!

Why, because you have to allow time for inspections, appraisals, and for your mortgage loan to be fully underwritten and approved.  Just like banks are swamped withshort salesandforeclosures, you can bet thatAlexandria VA Realtorsand lenders will be swamped over the next 2-3 weeks trying to ensure that buyers who are under contract have asmooth transaction, with no delays that could jeopardize them taking advantage of the tax credit.

If you're consideringbuying short sales in Alexandria VA, know that there is no guarantee as to when the bank will approve the sale.  As a buyer, your lender can only do the bare minimums on your mortgage loan if you have not received short sale approval from the seller's lender.

There's still time for you to take advantage of theFirst-Time Home Buyer Tax Creditand buy a home inOld Town,Del Ray,Kingstowne, orManchester Lakes.  Here's a short video that will help explain how the credit works.

Posted in Buyers, News, Videos
Sept. 21, 2009

Alexandria VA Buyer Agent Helps Buyers Gain Instant Equity With Short Sale Purchase

Alexandria VA Buyer Agent Helps Buyers Gain Instant Equity With Short Sale Purchase
Just Sold | 11816 Judiths Grove Court | Manassas

11816 Judiths Grove

Alexandria VA buyer agent helps move-up buyers gain instant equity, and contributes toward saving another family from foreclosure.  Are you a first-time buyer, or a move-up buyer looking for distressed properties?  Bank owned foreclosures, pre-foreclosures, and short sales can open up opportunities for your home purchase.

Because real estate prices have come down, there's more competition for move-in ready homes in the area.  This home at 11816 Judiths Grove Court in Manassas offered three fully finished levels, a rear deck, expanded kitchen with morning room, and a master bedroom with sitting room.  Tucked away in a subdivision with no HOA, these homebuyers are able to reap the benefit of privacy, and because this home appraised for more than the purchase price, these buyers are able to boast about their instant value.

If you're actively in the market for real estate and homes for sale in Alexandria VA or the surrounding area, please contact me for a consultation.  Distressed properties in Alexandria VA including bank foreclosures and short sales can open the door to a larger selection of homes.  Not all Alexandria VA area foreclosures and short sales are in the need of total rehabilitation.