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 Arlington CountyArlington County poised to redevelop Crystal City
The Board of Supervisors will vote on the plan in September, after a series of public hearings. Posted on Thursday, July 15, 2010 - 9:15pm
Northern Virginia enjoys billion-dollar home sales in JuneNorthern Virginia's residential real estate market in June had a billion-dollar sales month. That's the first time in almost three years that the region's home sales have reached a billion dollars. A total of $1.07 billion worth of real estate transactions closed in June, according to Metropolitan Regional Information Systems Inc., the area’s multiple-listing service. That’s a 9.3% increase over the $978.99 million logged last year, and is the highest one-month total since June 2007. Increases in sales volume suggest that the region's real estate market is recovering. That's good news for homeowners, who may see the value and saleability of their properties increase. Read more in the Sun Gazette.... Posted on Tuesday, July 13, 2010 - 11:06pm
Washington-area transit costs rising faster than ridershipLocal transit companies in the Washington area are serving more riders, but the cost to run the services is rising. For example, the cost of running Metro has grown by at least 28% over a four-year period, more than five times faster than ridership grew during that time. Access to reliable, affordable transit options is important to homeowners who commute within the metropolitan Washington area. Even homeowners who do not use the services themselves can benefit. The availability of public transportation can boost the attractiveness -- and sale price -- of nearby homes. Read more in The Washington Examiner.... Posted on Thursday, July 8, 2010 - 9:24pm
Arlington collects and spends more per capita than other Virginia counties
Where does the money go? Arlington spent more cash per resident than any other county on fire and rescue services, health services, parks, and cultural services. The county came in second in police and library expenditures. "We've made choices to provide levels of social services that are different from many other jurisdictions because that is what our community has said they wanted," said Mark Schwartz, Arlington's director of management and finance. Localities with lots of amenities and robust public service offerings are attractive to new residents, and help keep demand for housing steady. Steady demand can lead to higher property values in the long term. Read more in The Washington Examiner.... Posted on Tuesday, June 29, 2010 - 11:00pm
Quality of life helps make N.Va one of the nation's fastest growing areas
"There's a high quality of urban life in this area," said William H. Frey, a demographer for the Brookings Institution. Homeowners benefit from population growth, which grows the economy and promotes a healthy real estate market. Read more in The Washington Post.... Posted on Thursday, June 24, 2010 - 8:48am
Residents, board discuss development near East Falls Church Metro stationThe Arlington County Board is considering a proposed redevelopment plan for the East Falls Church area. Among other things, the plan calls for the replacement of a park-and-ride lot with a six- to nine-story building, a central plaza, retail operations, and about 100 short-term parking spaces for shoppers. Officials say the changes are necessary to prepare for the arrival of the Silver Line to Dulles International Airport. Opponents counter that the proposed changes will alter the character of the neighborhood. "Those of us who bought in this part of the county did so because it wasn't urbanized. We wanted to have single-family homes," said Nancy Weinberg, a 32-year resident. Development can have a positive impact for homeowners. It broadens the area taxbase and provides amenities that attract future home buyers, often spurring a rise in home prices. Read more in The Washington Post.... Posted on Monday, June 14, 2010 - 12:51pm
Washington-area home prices continue upward trendHome prices in the Washington area were 9.3% higher in May than they were the same month in 2009, perhaps evidence of a housing market recovery. That's according to real estate analytics company Clear Capital. Nationally, home prices were up 6.8%. Washington-area prices have been improving over the four quarters according to Alex Villacorta, senior statistician for Clear Capital. Another positive sign is that the percentage of bank-owned sales are dropping, according to Villacorta. For the period ending in May, bank sales accounted for 20% of all sales in the Washington area, vs. about 37% its worst levels, he said. Posted on Friday, June 4, 2010 - 3:23pm
I-495 HOT lanes to open in December 2012Ground has been broken on a HOT lanes operations center near Edsall Road, kicking off the construction project that will eventually result in High Occupancy Toll lanes on I-495. Drivers with two or more passengers will be able to use the High Occupancy Toll lanes for free. Vehicles carrying just one or two people can also use the lanes, for a fee. "With this more reliable travel time, the Beltway will soon become a viable option for buses and HOV travelers searching for a better commute," said Thelma Drake, director, Virginia Department of Rail and Public Transportation. Road projects that lower commute times are a boon to homeowners, and can ultimately increase the value and desirability of properties when it's time to sell them. Read more in The Free-Lance Star.... Posted on Thursday, May 27, 2010 - 3:39pm
Washington, D.C.-area housing market perking upThe number of Washington-area homes for sale last month was down 25% from April 2008, according to the most recent data from the local Multiple Listing Service. The supply has fallen in nearly all of the region's counties and cities since that time. It was down about 30% in Fairfax and Loudoun counties; and 55% in Prince William County, including Manassas and Manassas Park. Experts say that the drop in the number of houses for sale will benefit homeowners by bring supply back in line with demand, stabilizing prices. Read more in The Washington Post.... Posted on Monday, May 17, 2010 - 8:38pm
Arlington plans to update Crystal City
Officials are planning improvements such as pedestrian walkways, bike lanes, and a streetcar at Potomac Yard. The funds will come from local, state, and federal sources, and from private contributions. Homeowners benefit from improved infrastructure, as greater usability and aesthetic appeal raise property values. Read more in the Richmond Times-Dispatch.... Posted on Friday, May 14, 2010 - 1:12pm
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