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

Dec. 1, 2013

Alexandria VA Short Sales - Report for October 2013

Alexandria VA Short Sales - Report for October 2013

The recovering real estate market in Alexandria VA continues to flush out the number of short sales.  A short sale requires the homeowner to receive written permission from the bank to sell the home for less than the total mortgage payoff.


In October 2013, there were 199 homes that sold in Alexandria, and only two of those were short sales.  Year to date, the month with the highest number of short sales was April, when 13 short sales were sold, then June with 11.

The pendings, or under contract short sales tell a different story.


In October 2013, there were 228 homes that went into contract, and 36 of those were short sales.  There is a larger volume of pending short sales than the number that are actually closing.

New Short Sale Listings In Alexandria VA

Even with the recovering real estate market, new short sale listings are still entering the market.


In October 2013, four new short sale listings out of the 255 total homes that went on the market between October 1 and October 31.

For a complete list of Alexandria VA short sales, click here or give me a call at 703-623-8759.  To sign up to receive email alerts whenever a new short sale comes on the market, click here.

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Posted in Short Sales
Nov. 25, 2013

Lorton VA Short Sale Approved and Just Sold in Lorton Valley

Lorton VA Short Sale Approved and Just Sold

8310 Middle Ruddings 8310 Middle Ruddings Drive, Lorton,VA 22079

Lorton VA Short Sales - Lorton VA short sale specialist Tamara Inzunza has facilitated the short sale for another home.  The home in Lorton Valley at 8310 Middle Ruddings Drive was a short sale and has just sold for $599,000.

Can I do a short sale on an investment property in Lorton VA?

Absolutely.  Short sales do not have to be restricted to primary residences.  If you currently own an investment property in Lorton, the first thing you should do is find out the value of the home to determine if you are upside down (negative equity), or 'right side up' with positive equity. The number of short sales in Lorton VA is small relative to the total sales, so make sure you hire a short sale listing agent who knows how to navigate the process.  If you owe more on your investment property than what is worth, you can still attempt a short sale, and the sale will be subject to the approval of your lender(s).

Can I do a short sale on my Lorton VA home if I am not behind on the mortgage payments?

Yes.  Contrary to popular belief, you do not have to be behind on your mortgage payments to qualify for a short sale.  If you have an immediate financial hardship, or your hardship is in the very near future, such as you have received notice that your employment is being terminated, that is grounds for a short sale. Late mortgage payments will negatively affect your credit rating, so don't wait until you've missed a payment to contact me.

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Posted in Just Sold, Short Sales
Nov. 24, 2013

Price Reduction in Palazzo at Park Center Condos in Alexandria VA

Price Reduction in Palazzo at Park Center Condos
in Alexandria VA

4551 Strutfield Ln 4436This lovely Alexandria VA condo for sale has just been reduced! Here is your opportunity to own a top floor, two bedroom condo in the Palazzo at Park Center for $270,000.

Located at 4551 Strutfield Lane - Unit 4436, you will find neutral colors, vaulted ceilings, a gas fireplace, all white kitchen two balconies, and a master bedroom with a large walk-in closet.

This inside-the-beltway located is sought after by commuters.  There is one covered garage parking space that conveys, and just off of I-395 and King Street, it is a quick trip to Pentagon City metro, and also close to Tysons Corner, Rosslyn, and Washington DC.

At this attractive price, you'll also benefit from a low monthly condo fee of $290, outdoor swimming pool, fitness center, and party room.  If you are wondering whether or not you should renew your lease, give me a call at 703-623-8759 to preview this home to see if it would be a good fit for you.  This garden-style condo for sale in Alexandria VA is approved for VA financing and conventional financing.

Want a peek before the showing, take a look at the video tour, and give me a call at 703-623-8759 to schedule an appointment.

Palazzo at Park Center Condos For Sale

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Nov. 24, 2013

Alexandria VA Real Estate and Community Guide

Alexandria VA Real Estate and Community Guide

The following is guide is brought to you by top Alexandria VA Realtor, Tamara Inzunza of RE/MAX Executives.  If you have questions about local market statistics, property taxes, or what your home may be worth in today's real estate market, please feel comfortable giving me a call as I have been helping people buy and sell homes since 1997.

AXSignThe City of Alexandria is it's own jurisdiction, an independent city located just six miles south of Washington DC and 'inside the beltway' in Virginia.  Home to multiple metro stations, this commuter-friendly city is well-known for its historic landmarks and pockets of pedestrian friendly communities. Neighboring counties are Arlington County and Fairfax County.


Facts About Alexandria VA

According to the US Census, the City of Alexandria consists of 15 square miles with a population of 146,000.  As one of the most educated cities in the country, 60% of Alexandria residents have completed a college degree or higher and the median household income was $82,899 during the years of 2007-2011.

Points of Interest

Rich in history, the Alexandria VA area has an abundance of historic homes, monuments, and churches. Many of the historic homes can be found in Old Town Alexandria. There are tours of Robert E. Lee's boyhood home.  The most famous monument would be the Washington Masonic Memorial Temple.  At the very top is a breathtaking view of the City and Washington DC.  African American museum.

Employment in Alexandria VA

In 2013, Forbes Magazine ranked Virginia #1 for the Best State for Business.  As a suburb of Washington DC, there are thousands of federal employees who call Alexandria home, but there are some companies who have headquarters in Alexandria VA.  Companies like the US Patent and Trademark Office (USPTO)Windows Catering Company, VIPDesk, Belvoir Federal Credit Union, Pentagon Federal Credit Union, Mandiant, Oxford Finance Corporation, and the Motley Fool to name a few.

Alexandria VA Real Estate

Del Ray BungalowThere are housing options for all stages of the homebuying process in Alexandria VA.  You'll find different types of condominiums, including garden-styled, mid-rise, and luxury high-rise buildings.  There are two-unit duplexes, which have the benefit of yard space without monthly association fees.  Alexandria also has townhome, single-family, and luxury home communities. The real estate market has improved dramatically in 2013, and there have not been a large number of foreclosures and short sales.  According to the sales data taken during the month of September 2013, the median sales price for a home in Alexandria VA is $480,000, and on average a home stayed on the market for 37 days and was sold at 97% of it's original asking price.

Commuting and Transportation

While it is recorded that the average commuting time for an Alexandria VA resident is 30 minutes, it's also worth noting that the Washington DC metro area was ranked #1 for the worst traffic in the nation.  Many residents are able to walk, bike, or carpool to jobs.  Alexandria VA does have the convenience of having four metro stations along and yellow and blue lines.  Residents who are looking to live near metro can choose from the Van Dorn, Eisenhower Avenue, Braddock Road, or King Street stations.  The City recently adopted the bike share program, and other public transportation includes the DASH bus which provides access to the metro stations and Pentagon metro.

Public Schools

Alexandria City Public Schools spends $17,603 per student.  There are 12 elementary schools, 1 Pre K-8 school, 5 middle schools, and one high school, T.C. Williams with two campuses.  The T.C. Williams Titans were featured in the Hollywood movie "Remember the Titans" about the football team who was adapting when the school was desegregated.

 Nearby Colleges and Universities

  • Northern Virginia Community College
  • Strayer University
  • Devry University
  • Virginia Theological Seminary
  • Marymount University
  • George Mason University

Nearby Hospitals and Medical Centers

  • Inova Alexandria Hospital
  • Inova Mount Vernon Hospital
  • Virginia Hospital Center
  • Inova Fairfax Hospital

Parks in Alexandria VA

There is never a shortage of trails and paths in Alexandria VA.  Bikers and joggers can ride or run across bridges directly into Washington DC and Maryland.  There are several parks in Alexandria including 18 dog parks.  For a complete list of parks and recreational facilities, please click here.

Homes Just Listed For Sale and Newest Listings In Alexandria VA


Posted in Uncategorized
Nov. 22, 2013

Another Townhome Just Sold In Woodbridge - 6197 Trident Lane

Another Townhome Just Sold In Woodbridge - 6197 Trident Lane

6197 Trident LaneSometimes when a homeowner sees a successful sale, the timing is right and they want to see the same thing happen for themselves.  After selling the end unit townhome in Trentdale at 6191 Trident Lane earlier this year, the homeowner a few doors down at 6197 Trident Lane contacted me to sell his home.

He had seen some of the elements of my marketing plan, including a postcard announcing the sale and the Take One property flyer.  He contacted me to find out the value of his home in Woodbridge VA, and when I arrived, he had my marketing materials on the kitchen table.  As a top listing agent, marketing my seller's home is top priority.  While the statistics say that 90% of homebuyers start their home search online, it's important to cast a wide web of possible buyers.  The buyer could be on their computer in another city, or they could be living in the same neighborhood.  This is why I include web, local, and social marketing when you hire me to sell your home.

The biggest advantage of pricing and marketing is that it often results in multiple offers.  This was the case with the home at 6197 Trident Lane.  When sellers receive multiple offers, they have the opportunity to choose the best one, and not necessarily have the worry about going back and forth with an offer that is not so attractive.

When sellers review an offer, it's not always about the price.  Sellers take into account the closing date, amount of the down payment the buyer is making, and the type of financing that will be used.  As a listing agent, it's always a good feeling to call my sellers to inform them that I have multiple offers to present, as opposed to asking them for a price reduction.

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Posted in Just Sold
Nov. 17, 2013

Palazzo at Park Center - Open House Sunday November 16

Palazzo at Park Center - Open House Sunday November 16

Palazzo at Park Center CondosIf you are thinking about buying a garden-styled condo in Alexandria VA, then come and take a look at this move-in ready two bedroom at 4551 Strutfield Lane Unit 4436.  Features include:

  • wood floors
  • top floor location with vaulted ceilings
  • full sized washer and dryer
  • all kitchen appliances convey with built-in microwave, refrigerator with icemaker, dishwasher, and stove
  • two balconies
  • one garage space

This home will be held open Sunday, November 17 from 1-4 PM.

Can't make the open house, take a look at the video tour, and give me a call at 703-623-8759 to schedule an appointment.

Palazzo at Park Center Condos For Sale

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Posted in Buyers, Condos, Open House
Nov. 10, 2013

Buying A New Home in Alexandria VA - How Much Are Property Taxes?

Buying A New Home in Alexandria VA - How Much Are Property Taxes?

housing costsAlexandria VA Homes For Sale - If you are in the market to buy a home in Alexandria VA, then you'll need to know what the property taxes are and how they are computed.  Odds are, your mortgage lender will require that you escrow (or set money aside each month) to use toward paying the real estate property taxes for your home.

When you find a home in Alexandria VA that you like, you will need to look at the asking price and the tax assessed value to calculate your mortgage payment.    The tax assessed value is the value that the local jurisdiction assigns to the property for tax collection purposes.  Keep in mind that the tax assessed value and the home's market value can be two totally different numbers.  Market values fluctuate throughout the year as homes change hands between buyers and sellers, whereas the property is assessed once per year.

In Alexandria VA (City), the tax rate is $1.038 per $100 of the total tax assessed value as of January 1, 2013. So, if the tax assessed value of your home is $450,000, here's how your property taxes would be calculated:

  1. Tax value = $450,000
  2. Divide the tax value by 100. So $450,000 / $100 = $4500
  3. Multiply the $4500 times the tax rate. $4500 x $1.038 = $4671
  4. $4671 is the yearly tax bill that is due to the City of Alexandria
  5. Divide the yearly tax bill by 12 to get the monthly tax bill. $4671 / 12 = $389.25

Real estate taxes are collected twice per year by the City of Alexandria, due by June 15 and November 15.  If your real estate taxes are escrowed in your monthly mortgage payment, this means that every month, your lender will set aside $389.25 to use toward paying your real estate taxes.  When the taxes are due, your lender pays Alexandria City directly.

At closing, part of your closing costs will include 1-4 months of property taxes that will be collected upfront to establish your escrow account.  This is one of those charges that is not a lender charge, not anything to do with the seller, but a charge to setup your tax account so that there are enough funds to pay the property taxes in full.

If you currently live in Alexandria VA and think your property taxes may be too high, find out what your home may be worth now.  I'll send you a list of homes that have recently sold within the past six to twleve months, and you can use that to  file an appeal.

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Posted in Buyers
Oct. 27, 2013

Another Stonegate Townhome Just Sold at 4676 Kell Lane in Alexandria VA

Another Stonegate Townhome Just Sold at
4676 Kell Lane in Alexandria VA

4676 KellWhen these first-time buyers approached me about buying a home in Alexandria VA, they already had their hearts set on the beautiful community of Stonegate.  We had talked about Alexandria VA foreclosures and short sales, but their biggest concern was having the opportunity to negotiate home inspection items if there was anything that needed to be fix before moving in.

Homes for sale in Stonegate were moving very quickly, but when we saw the home at 4676 Kell Lane, it quickly became a top contender.  The home had been recently painted in neutral colors which was a big convenience for these buyers who are always on the go.  Other features there were a plus included hardwood floors on the main level, a walkout lower level, and patio.  The home was also elevated from the street level and there were mature trees in the backyard that offered additional privacy.

These first time buyers were able to negotiate the price down, in addition to getting home inspection items repaired prior to moving in.  This home was three bedrooms, three full baths, one half bath, with a one-car garage.  If you are thinking about buying a home in Alexandria VA, make sure you work with a top buyer agent, give me a call at 703-623-8759.

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Posted in Buyers, Just Sold
Oct. 26, 2013

Alexandria VA Short Sale Agent Sells Another Townhome in Stonegate

Alexandria VA Short Sale Agent Sells Another Townhome in Stonegate
4654 Kirkpatrick Lane

IMG_8326Stonegate Townhomes For Sale - Even though the real estate market in Alexandria VA is improving, there are still some homeowners who have been facing financial hardships and need help with a short sale.  The homeowner at 4654 Kirkpatrick Lane was referred to me from a past client.  After a consultation, it was clear there was a valid hardship and we immediately sought out the cooperation of the lender to pursue a short sale.

In this case, there were two lenders involved, and past due HOA assessments.  All sellers must sell the home with clear and marketable title, and free of liens.  This short sale required short sale approval letters from two separate lenders, and payoff of the HOA assessments, and we were successful in obtaining all three.

This three master suite townhome in Stonegate was sold for $515,000.  With record low inventory, anyone thinking about buying a home in Alexandria VA should consider looking at short salesBut you must be a patient buyer, and the reward could be the opportunity to own a home with instant equityHomes in the Stonegate subdivision were selling for $560,000 and above, and this buyer was able to purchase this home for $515,000 and get some closing costs paid.  The homeowners avoided foreclosure without having to pay any additional money toward the mortgage.

If you are facing a financial hardship and need help understanding your options, call me today at 703-623-8759.  I have been successfully helping homeowners in Alexandria VA since 2009 avoid foreclosure.

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Posted in Just Sold, Short Sales
Oct. 25, 2013

Homes For Sale in Stonegate Subdivision in Alexandria VA

Homes For Sale in Stonegate Subdivision in
Alexandria VA

Why Do People Live In Stonegate?

Stonegate in Alexandria VAStonegate is a planned community built by Pulte homes, located inside the beltway in Alexandria City. The homestyles and floor plans can accommodate buyers in all stages of the homebuying process.  There are condos in the Manors at Stonegate, move-up garage townhomes in Stonegate Mews, and luxurious one- and two-car garage townhomes in Stonegate.  The community was built in the mid 1990's and time has allowed the landscaping throughout the community to mature.  When you drive through Stonegate, you'll be captivated by the tree lined streets and accent the community and provide instant curb appeal.  Located just off of I-395 and King Street, this community is ideal for DC, Rosslyn, and Tysons Corner bound commuters.

What Is The Stonegate Community Like?

On any given day, you'll likely see people walking, jogging, or biking in the Stonegate community.  There are just under 500 homes, including the condominiums and townhomes.  The Stonegate Mews section has amenities to include an outdoor pool, grill area, and clubhouse.  The condos in the Manors at Stonegate have one and two bedroom open floor plans with high ceilings, balconies, and some two levels, ranging from 834 to over 1400 square feet.  The townhomes are three and four levels with rear decks.  The end unit townhomes in Stonegate are the largest in square footage, as large as 2700+, and some have rear decks off of the master bedroom in addition to a front-loading two-car garage.

What Types Of Activities Are Offered Around Stonegate?

If you are looking for things to do near Stonegate, then you'll have plenty to choose from within a short distance.  Stonegate is close to shopping and dining in Shirlington, Baileys Crossroads, Old Town Alexandria, Pentagon City, Del Ray, and Washington DC.  Even if you don't want to drive, cab far from Stonegate to Washington DC is less than $20.  The closest metro station is Pentagon City, and there are Metrobus stops around the community.

What Schools Do Stonegate Student Attend?

Stonegate homes for sale in Alexandria VA are served by Alexandria City public schools.  Children attend John Adams Elementary, Frances C. Hammond Middle School, and T. C. Williams High School.

What Are Home Prices In Stonegate?

The condos in the Manors at Stonegate sell in the $200,00's to over $400,000 depending on the floor plan.  The townhomes in Stonegate sell in the $400,000's to over $700,000.

Let Us Help You Buy Or Sell A Home In Stonegate.

As a top real estate agent with RE/MAX Executives in Alexandria VA, I help people buy and sell homes in Stonegate.  My most recent sales in Stonegate were 4654 KirkPatrick Lane (listing sold), and 4676 Kell Lane (buyer sold).  If you are ready to sell your home in Stonegate, please call me today at 703-623-8759 for market analysis of your home.  If you have fallen in love with the Stonegate community and would like to live there, take a look at the current listings below and contact me for a showing:

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