Home Prices are up!

I found this interesting article on Yahoo News today and I thought Virginia home owners might be interested in it. In summary it says that prices are up in many metropolitan areas and existing homes available for sale are at a 10 year low.

http://finance.yahoo.com/news/home-prices-increase-most-major-140227717.html

This is great news if you have a home to sell, we've seen similar trends of prices moving up in many local areas especially closer to the beltway. And coupled with historically low interest rates it makes now a great time to buy! If you happen to be in the market.

Rates are still CRAZY LOW!

We've been watching interest rates for a while now, and so far they are still at historical lows. If you own a home and you're not upside down in value, this is a great time to refinance!

If you're looking to buy, don't wait! These rates won't last forever and if your credit is good you can afford a lot more home at 3.31% than you can at 4.5%.

See this article from Inman News for more information.
http://www.inman.com/news/2012/11/21/give-thanks-if-you-qualify-record-low-mortgage-rates

Halloween Events!

Hello Northern Virginia! Are you looking for fun things to do this Halloween?
Here's a fantastic link to some fun things to do in the greater Northern Virginia, Maryland DC area!
http://dc.about.com/od/childrensactivities/a/Halloween.htm

Some of my personal favorites:
http://airandspace.si.edu/airandscare/

Pumpkin Patches (Virginia is on page 2)

Corn Mazes

Ghost Tours in Washington D.C., Virginia and Maryland.

How are you getting ready for  Halloween?

Attention Small Business Owners!

Are you self-employed or a small-business owner?  Then NOW is the time to start thinking about your 2012 taxes (if you haven't already). If you've been keeping up with your quarterly taxes, chances are you probably know about what to expect to pay to uncle Sam. But because the calendar year is not yet over, you can take steps now to change those numbers!

I found this helpful article today on Inman News that I thought I would share. The article is geared toward Realtors, but it is also great for other self-employed people and small business owners. I'm also posting it in our Twitter feed (apologies if you get it twice).

Doesn't it make you wonder?

Recently in our community there have been some tragic events. Events that involve families, heartache and talking to my kids about things I would much rather shield them from for a few more years.

I won't speculate on why these things happened to these families that I do not know. However, I do want to reach out to the families affected by these horrible events and offer our heartfelt condolences. It is never easy to lose someone you love, and I hope that the family of Bryan Glenn is able to find some comfort in their family and friends during this difficult time.

September 25th, my son's school announced the loss of one of their students and we found it was the loss of an entire family.  The school, of course, offered grief counseling to the students and a nearby church held a candlelight vigil for the Peterson family. I'd like to reach out to the relatives and friends of the Peterson family also and extend our sorrow for your losses.

Hearing stories like this always makes me wonder, where did it all go wrong? Was there a point at which these tragedies could have been avoided? Is there truly a way to prevent these events? Or is our place instead to wonder at the meaning of it all. To take this in as an acute reminder to hold the ones we love a little tighter, to be a little more patient, and to treasure every moment.

I am thinking tonight of the Glenn Family and the Peterson Family, their extended families and friends. I am wishing you strength, comfort, and peace.




*NOTE* The enclosed links connect to local news articles and comments. The articles and especially the comments attached are not within the control of Preferred Realty Partners, nor do they reflect the views of Preferred Realty Partners.

This Weekend in Washington D.C.

Happy Friday! Congratulations on making it through another weekend. I'd like to congratulate our clients who's buyer closed on their Herndon Townhome yesterday! (There was a lender delay...but it all worked out in the end).

Next week we have new homes going on the market, so watch this blog for updates! Or email us, we'd love a personal note. Or, if you're shy you can always use this link to keep an eye on our listings in "stealth mode". Just remember to reach out if you have any questions. We are here to help!

If you haven't yet made plans for this weekend here are a few interesting things to check out:

The Bluemont Fair is this weekendwith  music, food, arts & crafts vendors, Antiques Roadshow-esque appraisals, beautiful historic buildings, Pickle making & Pie Baking contests and Wine Tasting. The official website is a bit "text heavy" so use these alternatives if you just want directions & admission info:
http://www.visitloudoun.org/Events/43rd-Annual-Bluemont-Fair
http://www.facebook.com/pages/Bluemont-Fair/95123025349

Celebrate the Harvest is ends this weekend in Middleburg
Restaurants will include local meats, cheeses, produce and wines which are sure to be fantastic.

For more Loudoun County events use this link here

In Fairfax - the 10th Annual KORUS festival meets at Bull Run Park to celebrate Korean Culture. Displays of music, dance, food and other stage performances. A fantastic cultural enrichment experience for the whole family!

 If' you're looking for a deal, the DC Big Flea Market is this weekend at the Dulles Expo Center.

Taste of Falls Church is FREE! Live entertainment, ridse, crafters, businesses and much more!

The 150th Anniversary of the Battle of Antietam in Maryland
If you're a history buff and up for a bit of a drive this could be a fun event. There will be a re-enactment, music, food, tours, hikes, children's activities, living history, memorial ceremonies and guest lecturers.

If nothing here tickles your fancy...there are a whole slew of other options here!

Please note, none of the events listed on these links are hosted or financed by Preferred Realty Partners, so they do not necessarily reflect the interests or opinions of our team, our management or our Brokerage. We have no control over the content or operation of these linked sites.
We just thought it might save you some time to have these links on one page.

Have a great weekend!

Reston Single Family Home! Great new price!

Hello and welcome to Thursday! I hope your week is treating you well.

We just had a price reduction on this house on Handlebar Road in Reston, this posting is tagged on the street. The location is fabulous, tucked into mature trees just off Lawyers Road in Reston.

 The price was just reduced to $519,000 and we are having open houses to increase your access! Watch for dates on the virtual tour link here

This house features hardwood floors, neutral carpet and paint, and a fabulous tree lined lot on a quiet cul-de-sac. Call or email for more information tiffany@yourprp.com

Japanese Beetles

Japanese Beetles are a common summer pest in Northern Virginia. Last year our Fourth of July outing was plagued with them dive-bombing our heads. This summer, because of the dry winter and hot spring we are expected to have quite a lot of insects.

I found this article this week and thought it might be helpful if you have a Japanese Beetle Problem.


There is another article here.


And an organic solution here.

What's in a Rental?

Our office lists properties for rent for private owners. Often the potential tenants are confused about how the process works because they are used to renting from an apartment complex. Here are a few things that I tell prospective tenants to help keep it all straight:

Apartment Buildings

• An apartment complex typically charges a lower security deposit. They have a staff of maintenance people, so if a tenant leaves the place a mess they can have it fixed quickly and easily by their own staff.
• Apartment complexes typically own a building with 50 or more units and charge enough in rent that a percentage of occupancy covers their expenses and mortgage. This means they can afford to carry a certain number of vacant units in any given month.

Private Owner

• A private owner often charges 1 month's rent for security deposit. If a tenant leaves the carpets or walls a mess, they have to hire someone to fix it or make the time to fix it themselves.
•  Private owners are responsible for the mortgage, whether they have a tenant or not.

Of course there are a number of other considerations, but these are the key ones that come to mind.

I'm posting this in honor of our Rental listing on Cheyenne Way in Haymarket that goes active in the MLS today. Two levels, 2 bedrooms, 1.5 baths. Fenced yard with deck. Updated kitchen! If you have any questions about Cheyenne Way...please contact us!

Are you thinking about living in Reston?
We have a fabulous single family home for sale in a great location. You'll love the private lot nestled into mature trees. This home is located just off Lawyers Road in Reston convenient to major commuter routes. Click the link for more photos and information or Call our office! 703-674-1217

Northern Virginia High School Rankings

If you are thinking about moving to (or within) Northern Virginia, it's possible the Schools are important to you. I saw an article in the news today that I wanted to share with you courtesy of the Washington Post Local. The Headline reads: "Stone Bridge High School ranked 10th best in Virginia." (Click the link for Washington Post article).

Wow! 10th in the whole State? That's pretty spectacular! Congratulations to the teachers, students and staff at Stone Bridge HS! According to this article they also placed 178th nationally, and earned a gold medal for the student's college readiness. The article from US News showing the rankings can be found here.

Other local schools placing high in national rankings according to this article, include:

• #2 -  Thomas Jefferson High School for Science and Technology in Alexandria, VA
• #19 - George Mason High School in Falls Church
• #55 - George C. Marshall High School in Falls Church
• #85 - McLean High School in McLean, VA
• #88 - James W. Robinson Jr Secondary School in Fairfax, Virginia
• #98 Langley High School in McLean, Virginia
• #122 - W.T. Woodson High School in Fairfax, VA
• #129 - James Madison High School in Vienna, Virginia
• #165 - Oakton High School in Vienna, Virginia
• #178 - Stone Bridge High School in Ashburn, VA
• #193 - Lake Braddock Secondary School in Burke, Virginia
• #207 - West Springfield High School in Springfield, VA
• #249 - Fairfax High School in Fairfax, Virginia

I'd like to point out that Chantilly High School ranked 15 in the state, and Westfield High School ranked 16. This means that 15 of the top 20 schools in the entire state are located in our own Northern Virginia area. Congratulations to Virginia Educators! We appreciate all you do for our children and our future!

The Silver Line of the Dulles Metrorail Project

If you have driven near Tyson's Corner or Reston Virginia in the last year or two you've probably noticed an enormous amount of construction. Some of this construction is Phase 1 of the Dulles Metro Rail project. For the past month or so I've been hearing a lot about local residents opposing the Silver Line. The Silver Line of the Dulles Metrorail is expected to extend The Washington, D.C. area's public rail transport system or "the Metro" from Falls Church to Washington Dulles International Airport (IAD), and into the city of Ashburn at Ryan Road. You can see a map of the proposed stations here.

Phase 1 of this project is well underway and scheduled for completion in 2013 according to the Dulles Metrorail Project's Website. Phase 2 extends the rail from Wiehle Avenue in Reston to Ryan Road in Ashburn with stops at Reston Parkway, in Herndon/Monroe Street, Route 28, Dulles Airport and Route 606 ending at Ryan Road in Ashburn. according to their website, the proposed completion date for Phase II is 2016.

According to some comments I've seen in various articles and blogs, the opposition is not to the rail itself, but to the taxpayers bearing the financial burden of building the rail system. There are concerns that the cost of use on the Dulles Toll Road & The Greenway (Virginia Highway 267) will increase exponentially. Further, the use of PLA's (Project Labor Agreements) is expected to vastly increase construction costs, decrease the likelihood of Virginia workers getting these jobs, and reduce in-state competition due to the low number of Virginia Unions.  For more information on this opposition, see the article here. The Reston Chamber of Commerce has also expressed opposition to these PLA's. You can read more about that here.

From a strictly Real Estate point of view, the Silver line means better access to two major airports as well as commuter options for residents who work in or near the District of Colombia. It means a likely increase in property value for residents in Herndon, Reston and Ashburn once it is completed. However, it is always interesting to see how these types of changes affect the community in which they occur during the building process.

For photos and updates on Dulles Metro Rail construction, click this link.

Short Sales and the MDRA of 2007

If you are a homeowner who bought your Northern Virginia house in 2004-2006 you may be significantly upside-down in the value of your home. Meaning that the full amount owed on your mortgage, may be higher than the current fair market value of the home.

The Mortgage Debt Relief Act of 2007 made it generally possible for taxpayers to exclude the deficiency (amount still owed after negotiating for a short-sale) from their taxable income when filing their taxes in the years 2007-2012. There is a lot more information available regarding this act from the IRS, who frankly know a lot more about it than we do. The most important thing for Virginia Consumers to note, is that if you are thinking about a short-sale you probably shouldn't sit on the idea for too long. Most short-sales take more than 4 months to negotiate, and there is not a lot of inventory on the market right now...so homes are selling quickly!

If you are a buyer looking at short-sales, please pay close attention to the time frame given by the listing agent. If we tell you it will likely take 4 months, we mean it. Sometimes a short-sale can be approved in 3 months, but typically it is longer.

Should you have any questions about Real Estate, please submit an inquiry to our website. We would be happy to answer any questions you have!

I'll leave you with some photos of our latest Reston Virginia listing, which was under contract in just a few days! Email us for more information about this property as well.

Handlebar Road - Gorgeous Rambler with Mature trees

Fully enclosed Sunroom with fabulous view of the tree lined backyard

 Photos Courtesy of Dan McCutcheon

Happy Mother's Day

We would like to take a moment today to honor the Woman who gave us life, who cared for us when we were small. The person we can count on for anything, anytime we need her. Whether it's advice on how to remove a tick or the recipe for "that thing gram used to make that I loved so much as a kid".

Mothers are a seemingly tireless force in the world, the unseen warriors defending their children against bullying, boo-boos and relationships gone awry. Our Mothers believe in us when we are too frightened to, they swell with pride at our achievements, weep with us over our sorrows, and celebrate our joys. And they do it with all the human imperfections that make them perfectly unique.

For all the sleepless nights, all the times you stayed home with a sick child instead of doing something else. All the worry, all the heartache, stress and love and joy and exasperation.

Moms, we thank you for all that you sacrificed so that we could become who we are today.

The Day the Earth Stood Still

On April 17, 2012, an otherwise fairly ordinary day, many of us had the opportunity to witness an extraordinary event. The arrival of the space shuttle Discovery. In Northern Virginia, this was a pretty big deal. Many people took time off from work for a chance to witness the flyover. Students at area schools stood out in the schoolyard hoping to see the flight. The folks at NASA arranged for Discovery and it's ferry aircraft to fly over some local neighborhoods. I like to think they did this to share the love of space exploration with everyone within view.

For a few brief moments the whole world stood still. People got out of their cars and stood along VA 28, a highway located close to Dulles International Airport, to see the shuttle come in for a landing. My brother-in-law Kevin & and his wife Erin shot this video:



I love the way an event like this brings people of all ages and backgrounds together. I'm told that people in offices all over the Washington D.C. area stopped what they were doing to watch the flyover from their windows. For a few moments, we were all connected in universal fascination.

I hope you were able to witness the flight of the Space Shuttle Discovery. According to NASA, the shuttle Enterprise is scheduled to leave Dulles for JFK on April 27th. Hopefully if you missed Discovery's flight, you can see Enterprise on the way out tomorrow...assuming the weather is nice.

For more photos of the preparations for the flight of Space Shuttle Discovery, see this article here.