Here are the five residential transactions that closed for the highest dollar amount in 2016:
11990 Market St.
1830 Fountain Drive
1484 Waterfront Road
2637 Fox Mill Road
11570 Lake Newport Road
11990 Market St. #2101 sold for its full asking price of $1.6M. The 1BR/3BA, 2,075 sqft penthouse-level unit carries a condo fee of $1,165.42/month.
1830 Fountain Drive #1505 sold for $1.525M (listed at $1,549,900) received a contract after 234 days on the market. The 3BR/3.5BA penthouse in The Paramount boasts 3,000 sqft and a $1,178/month condo fee.
1484 Waterfront Road, $1,347,500 (5BR/3.5BA)
2637 Fox Mill Road, $1.335M (5BR/5FBA/2HBA)
11570 Lake Newport Road, $1.3M (5BR/3.5BA)
Comparatively, in 2015, here are the five residential transactions that closed for the highest dollar amount:
11308 Stoneledge Court, $2.3M (8BR/11FBA/2HBA)
11990 Market St. #2104 closed at full asking price of $1.7M. The 2BR/2.5BA penthouse unit of 1,986 sqft has a $1,041.78/month condo fee.
11310 Stoneledge Ct., $1.6M (5BR/7BA)
1203 Bishopsgate Way, $1.5M (7BR/6.5BA)
11569 Lake Newport Road, $1.5M (4BR/3.5BA)
As of Jan. 1, 2017, there are 157 properties on the market in Reston for sale, ranging from $129,990 for a 1BR/1BA in Thoreau Place (a 55+ community) to $1,299,900 for a 5BR/4.5BA single family home in the Estates at Wyndham Hills.
A new administration, rising interest rates and a housing market that continues to be competitive will make 2017 an interesting year for real estate. Here’s what I’ve seen on the ground this year in Northern Virginia and Washington, D.C. and predict for the year ahead.
How did you get started in the real estate industry?
My background is in journalism, and I used to work as a newspaper reporter. As my husband and I were planning to move back to the States after serving two years overseas with the State Dept., a colleague suggested to me that I’d be great in real estate. I looked into what it would take to get a license. I ended up taking the licensure classes and sat for the national, Virginia and D.C. exams when we got back. And that was almost two years ago!
For months, interest rates have been at historic lows. Borrowers looking to buy a home today were able to get lower rates than those who purchased more than two years ago. But all of that has changed within the last few weeks, as interest rates climbed to their highest point since October 2014. Prior to that, rates hit an all-time low on Nov. 22, 2012, at 3.31%.
Worried about selling your home during the holidays? Follow these tips from Lisa Groover of McEnearney Associates in Alexandria.
There are pros and cons to listing your home for sale during the holidays; however, buyers looking during this time tend to be more serious and may be under a deadline to move. There is also less competition in the market. If you are prepared to modify your holiday plans to accommodate showings and the selling process, then here are some tips for preparing your home for sale:
No matter how long you live in the Washington D.C., Maryland or Virginia area, you can never get tired of gorgeous fall foliage. The reds and yellows and oranges are so intense, and driving through the countryside and mountains gives you the pleasure of watching the most stunning season change ever.