Blogging Real Estate in NoVa

Grenata Preserve Leesburg by Creighton Enterprises

 

Grenata Preserve Leesburg by Creighton Enterprises

Pulling into the circular driveway of the model home at Grenata Preserve in Leesburg you first notice the French Château architecture and the stunning pitched roof lines. The foyer opens up to a double cured stairway leading to the second level overlook. Surprisingly enough as big as you might think the house would be on the outside the inside rooms are very manageable and comfortable. The kitchen is as expected large and open with plenty of cabinets, granite and entertaining space. One of the nicest features is the angled two sided fireplaces and custom mantels throughout the home. The finished lower level is of course filled with all the goodies to make this the envy of any man cave in the neighborhood. This includes of course wet bar, theater room with wide screen projector and enough space to have a small pool hall. What I really liked was the feel and flow of the entire house. It is a large and extravagant house with fine details throughout but it wasn’t pretentious or over done.

I’ve lived only a few miles from Grenata Preserve in Leesburg and have heard whispers about how magnificent the houses Jim Brown CEO of Creighton Enterprises was building at Grenata in Leesburg. During the boom years many of my clients in this price point where looking to be closer to DC and preferred the Mclean or Great Falls addresses rather then Leesburg. However, with the pricing changes over the last few years and the increasing amount of upscale shopping and amenities coming to Leesburg these one of kind custom homes are now in reach of many who want and demand more.

I briefly met with Jim and his wife and found that Creighton Enterprises is truly a family run operation where detail and quality craftsmanship is there top priority. Jim is the architect of the family and has been building and designing homes in the Northern Va area for over 26 years. They have retained many of the local craftsmen over those many years. Lot sizes range from 3 to 100(only one 100 acre lot available!) acres spread out over 4 subdivisions in Loudoun County. They are Grenata, Thunder Oak, Barclay Woods and Creighton Farm. Price ranges from $1.3 million and up. I was told that there will soon be 1 acre Creighton custom homes starting at lower brackets. I can’t wait to see this level of craftsmanship and architecture in the lower brackets!

Want more info, want a private showing with the architect, or better yet see want to see what a 100 acres in Loudoun County looks like, then call or email me!

 

 

 

 

 

 

 

 

 

 

 

 

 

Take Care,

Chuck

 

Serving all of your Ashburn, Leesburg, Mclean and Loudoun County area Real Estate needs!

Now Here Are Some Real New Tweets!

Now Here Are Some Real New Tweets!

Several weeks ago I went out to water my hanging baskets and was viciously attached by a crazy mad dove. Every time I got close to my plant the dove would swoop down near my head and bounce off the windows and side of the house. Not wanting to challenge the dove for my plant I gave up and headed back inside to the comfort and safety of my Lazyboy. I didn’t really want to water the plants anyway I thought as I kicked back with my handy remote!

A day later my wife had the same experience with our nutty dove. This time I was called in to investigate. I used my super ex-Army infantry skills to sneak a peek inside the basket and found two small off white colored eggs nestled inside a small nest. I carefully and quickly backed away from the basket before the mad bomber returned with more friends. I informed my wife that we had squatters and being a Realtor I did not have the heart to evict! We made a family decision that we would sacrifice our hanging baskets and not disturb our Mad Bomber.

I’m happy to report that as of last week we have two new Leesburg residences. We named them Tweet and Tweeter of course! They are welcomed to stay as long as they like...rent free! 

 I love happy ends!!!

Happy Saturday!

Chuck

  

 

 

 

 

 

 

 

 

 

 

Serving all of your Ashburn, Leesburg, Mclean and Loudoun County area Real Estate needs!

Loudoun County! What's Next? by Jim Stakem 9/15/2009

Loudoun County! What's Next?

by Jim Stakem 9/15/2009

Without rehashing the point any further, this has been a very difficult couple of years for the Real Estate market. Our market in Loudoun County has experienced its fair share of problems. The million dollar question is what's ahead for us. Loudoun County is composed of three distinctly different markets. The first and most active is the heavily developed Rt. 7 corridor from Leesburg east. We also have the partially developed Rt. 50 corridor east of Rt. 15 and finally the rural market west of Rt. 15.

This is what I expect to happen in the next twelve months. First we have to look at the factors that influence Loudoun County. We are very lucky to be so close to Wash. D.C! We can expect solid growth in the future as a result of government spending which is currently adding jobs to the local market as well as bringing more private sector jobs our way. We are already experiencing an increase in financial sector jobs arriving as a result of the increased regulation and need of financial institutions to be near the Washington regulators, the Washington Post reported on this in Sept. 13^th , and this is just the beginning. We are also very lucky to have Dulles International Airport and the subway connection to Washington in the near future. We are the most attractive and promising market, in the most stable city in the country. Although we have had so many problems, as has the rest of the country, we are very lucky to be in Loudoun!

In the two eastern areas we have a housing shortage! We have a market which at any other time in history would be experiencing explosive price increases. This is especially true in the Leesburg, Ashburn, Sterling/Potomac Falls and South Riding areas. We have multiple contracts on many of the most attractive properties and rapidly decreasing inventories. What we actually have is a market being artificially restrained by mortgage regulations which will not allow prices to increase. Until these prices are allowed to rise many people will simply refuse to sell and we will continue to have multiple purchasers who are frustrated in their attempts to buy. Builders are also having problems with prices, there is simply not enough profit in the residential market for them to risk building to meet the current demand. This market will be stable with lower sales volume and very frustrating for all!

The rural market will experience more substantial problems. It is always true that the further west you go the longer it will take to recover. If you add to that the changing demographics, younger families are more likely to be looking for smaller properties which require less maintenance and a lower mortgage. They also want more amenities in close proximity to their homes. This trend is expected to continue and will seriously erode the chances for recovery in rural markets. The next year will continue to be very difficult in these areas. There will probably be a greater chance for recovery in the urban centers such as Hamilton, Purcellville and Round Hill.

In summary next year will probably look much like this year with prices continuing to increase slowly in the east with reduced sales and we will probably see prices begin to stabilize in the west and sales continue to slide.

Jim Stakem is the Owner and Managing Broker of Re/Max Select Properties located in Sterling, Ashburn, and Leesburg. 

Servering all of Ashburn, Leesburg,Mclean and Loudoun County area Real Estate needs!

$8,000 Tax Credit Ending Soon Part 2!

I was scanning through my Social Media network today and ran across this video( thank you Matt). I'm sure it will go viral very soon! Check it out and let me know what you think!

Sycolin Road Now Open Between Ashburn and Leesburg

Great news all you short cut lovers. Sycolin road is now open and paved! For those who have never taken the short cut, Sycolin road cuts through Belmont Ridge road and parallels RT 7 and the Greenway all the way to Leesburg. I found it a great short cut during rush hour and when I just didn’t feel like paying $4 to drive 10 miles on the Greenway. Now that it’s paved the entire way to Leesburg this should be an even more enjoyable trip.

 

BTW… the speed limit is 35 mph and although I did not see the ribbon cutting ceremony with the usual talking heads I did spot our local Barney Fife. He was hard at work this Sunday morning making sure all us civilians are obeying his authority. 

Cheers \/ ! 

Chuck 

A Bridge Too Far No More!

A bridge too far no more! Battlefield Pkwy bridge is finally OPEN! Sort of…. You see before any bridge opens in Leesburg it is the law that all the normal needy talking heads need to gather at the center of the bridge and do the ceremonial pat on the back. I understand it is also law that each of these needy self-important people must speak for at least 5 minutes. That’s right, not also do they need to pat themselves on the back but they must also sing- song everyone to sleep with their monotone drone.

 

The good news is that after all the ceremonial pat on the backs are done (good job councilmen and women way to put up those support beams!) traffic heading south on rt 15 should be greatly reduced. Those of us who live in the SW part of Leesburg should also save a few minutes on there commute. Those who live in Tavistock Farms should see the most timesavings. I do have one word of caution for anyone taking this route as a short cut, the speed limit is 35 MPH and it is enforced by our own Barney Fife.  No kidding! I run this route daily and I normally spot at least one speed trap.

He's a killer I tell ya! 

Take care,

 

Chuck!

$8,000 Tax Credit Ending Soon!

 

As the saying goes” all good things must come to an end”.  Well, this is just a reminder that the $8,000 tax credit will be over before you know it. Just to review, according to the IRS you must settle by November 30,2009. Just to be 100% clear, to get the $8,000 you must be at the closing table signing on the dotted line by November 30^th. This means you have to do a little backwards math to ensure you get your tax credit.

 

Here is what I would suggest, currently if you are a first time home buyer trying to buy a sub $300,000 house in the Leesburg, Ashburn, or just about anywhere in Loudoun County area you will have major competition. I would plan on at least a 60-day house search and at least 3 good offers (unless you still think this is a buyers market in which case plan on 8-10 offers and 3 buyer Realtors) before you win one. You must also take into consideration that it will take 30-45 days to close (if there are no issues).  This time frame does not take into consideration Short Sales. If you are reading this and you want to buy a Short Sale you are most likely too late to take advantage of the Tax Credit!

 

So let’s review, we are now running into September add 60 days to find a home and another 30 days to close and you get November (give or take a day or two).

 

The only question now is are you ready to buy? If you are call or email me now and let’s get started!

Take Care,

Chuck

Leesburg Airport Open House

One of the great perks of living in Leesburg is the yearly Leesburg Airport Open House. The airport is home to several flight schools and is one of the most active small airports in the region. I personally love the vintage and experimental aircraft that call Leesburg home. On any given clear blue sky weekend you can spot a vintage War World 2 aircraft slowly and gracefully circling the Leesburg area. Here is a iphone video taken today of a B17 rolling towards take off.

And of course what blog would be complete without family photos;0)

Some ground defenses in case an enemy aircraft tries to land.

It's great being a Real Estate agent in Leesburg!

Take care,

Chuck

Where are all the sellers in Loudoun County!

So, where have all the listing gone in Loudoun County! For the past 3 years the economic data has suggested that we were at an all time inventory high with some reports stating that we had several years worth of houses to burn off. It’s amazing the difference a year makes in the Loudoun and Fairfax County area. Here are some eye-popping facts about Loudoun that you might find interesting:

 

·          In January of this year the average days on market for a single family house was around 134 days. Currently its 73 days and falling! Townhouses that used to average 89 days are now sell in as fast as 48 days. Even condos that once took over 150 days to sell are selling within 50 days.

Th  The medium sales price of a single-family house in February was just under  $400,00.  As of July it is $463,000.

·          According to the Dulles Association of Realtors inventory is at a 3 year low. Did someone say supply and demand aliment? 

Both Fairfax and Prince William County have seen similar housing tends.  So, you ask, “Where did the sellers go?”  The general thought is that most sellers in the Loudoun county area who brought their homes less then 3 years ago are under water and therefore are NOT going to sell anytime soon. There is also a theory that our local economy (remember the old saying” the 3 most important things to know about Real Estate are Location, Location, Location!”) did not tank nearly as bad as everyone expected and that we will be one of the first metro areas to rebound.

If you are thinking of buying there are still some deals to be had but you will need to be quick. Homes selling under $500,000 are moving very fast; townhouses under $300,000 are equally selling fast. If you are thinking of buying anything under $200,000 anywhere in the Northern VA area (including Manassas, Prince William, Leesburg, Ashburn, Gainesville,Haymarket and even as far west as Purcellville) you better wear your bidding hat and have your game face on to win. I know of investors putting in offers on houses sight unseen and they are still losing. Feels a whole lot like 2003-2004 at this end of the market.

If you are buying in this market make sure you are ready to bid when you see something you like. If you are selling, make sure you use a local Realtor who understands today’s market and today’s marketing strategies!

I'm not totally ready to do flips yet but....

 

Take care,

Chuck

The Stakem Report Loudoun Housing Stats Aug 2009

Real Estate Virginia – The Stakem Report
Aug. 2009
www.stakemreport.com
We're on the Web!

I did not have a July report and used that time to create
a web home for the Stakem Report. I will be updating
the information numerous times during the month
between the monthly newsletters. You will soon be able
to post your comments there as well. I look forward to
your input! Look for www.stakemreport.com.

June Improving?

June was a strange month. We are continuing to adjust
to the realities of our new market. As always there is
good news and bad.

First the “Good News?” Average sales prices in our
survey area only declined by 6% as compared to June
2008. This kind of good news gives me an ulcer! I
suppose compared to a near 20% decline, a 6%
decline is a great improvement. Personally I will not
consider anything other than positive numbers good
news.

The bad news is that Sales Volume is down 14% and
the Number of Transactions are down 9%. This is to be
expected as the banks are still holding many foreclosed
properties from the market which reduces the lower
priced sales. The sales volume is simply the reflection
of the decrease in transactions and falling average
prices.

The market still remains tight! Good properties will
receive offers within days (if priced correctly) and in
many cases receive multiple offers. If all things were
equal this should mean rising prices, however the new
appraisal rules continue to deflate these prices. Some
day all things will balance out and supply and demand
will once again control markets!

Finally! Positive Numbers!

July broke the long slump, if only by a little bit. The
average sale price in our survey INCREASED in July! I
wouldn't consider my house an ATM and plan on using
the equity, it only went up 1%, (but at this point I will
take anything and the trend is up.) I don't really believe
values actually went up. What I believe really
happened is a slight thaw in the higher priced market
combined with less underpriced property on the
market. These are both very positive signs!

We are definitely not out of the woods yet. There are a
number of things which are still problems. What are
banks going to do with their large inventory of
foreclosed homes? Will rising unemployment trigger
further foreclosures? What are interest rates going to
do? Will the extremely conservative appraisals
continue to dampen the market? These and other
trouble spots need serious attention but at least we are
moving in the right direction.

One major worry in this month's statistics is the huge
decline in the number of settled sales. There was a
27% decrease in transactions. This appears to be
because of the supply in the lower priced listings. The
demand still seems strong however we just don't have
the product to meet the demand.

Want to sell a $1M house?

This is not the time to sell a $1,000,000+ house! The
June statistics from MRIS show that we have a 27
month supply of homes above $1,000,000! The upper
price ranges remain virtually frozen. The price range
that is moving is $700,000 or below, with 3-5 months
supply on the market.

Loudoun Sales and trends