Three Stones Residential agents pride ourselves on our consultative service approach, local expertise and real estate market knowledge. With over 26 years of business experience in the DMV, we have consistently performed in the top 2% of local Realtors and are currently the #1 group at Keller Williams Metro Center.
The following properties were recently listed in the Tysons, McLean, Vienna and Falls Church areas.
- 3171 White Street, Falls Church — $780,000
- 3244 Peace Valley Lane, Falls Church — $699,000
- 108 S. Spring Street, Falls Church — $1,059,000
- 10204 Old Hunt Road, Vienna — $865,000
- 2462 Flint Hill Road, Vienna — $1,749,888
- 1814 Chesterfield Place, McLean — $1,749,250
- 7922 Falstaff Road, McLean — $1,100,000
Our role is to offer sound advice and guidance to our clients in order for them to achieve their goals in either buying, selling, leasing or managing real estate. We are truly “Your Home… for Everything Real Estate.” To schedule a private showing of these or any other properties of interest please do not hesitate to contact us here or email us at [email protected].
Welcome to Luxury For Less, a weekly column highlighting the best deals in luxury real estate. Written by Brandy Schantz of TTR Sotheby’s International Realty, Luxury For Less offers tips and tricks navigating the competitive real estate market and securing the home of your dreams. To learn more, visit ttrsir.com.
I hope everyone had an opportunity to enjoy the beautiful fall-like weather we’ve enjoyed.
We’re returning to temperatures in the 90s this week so I’ll do my best to remember how great that breeze felt this weekend. The summer has come to an end but it was a very busy summer. Sales in July were up from last year by nearly 10% and median days on market were down by over 50%. If you were having trouble securing a home in Fairfax County this summer, so were many buyers. Prices are up from this time last year also but not in every neighborhood.
Vienna prices are rising while Oakton and McLean are staying steady. I’ve lost more than a few contracts to an all cash buyer this year and the statistics reflect that fact. 10% of all transactions in Fairfax County so far this year have been all cash. This year has also been about moving fast. Almost 40% of homes sold this year have sold in 10 days or less. The fall market is already heating up so it still looks like a good time to sell.
This week’s feature home is on a very large lot (.69 acre!) in Vienna. This craftsman home features tons of upgrades, a wine room and a private suite above the garage. This beautiful home has just been reduced in price $100,000.
120 Kingsley Road SW Vienna (Reduced $100,000)
Check out the rest of this week’s Luxury for Less listings:
- 7826 Swinks Mill Court McLean (Reduced $50,000)
- 614 Valley Drive SE Vienna (Reduced $45,000)
- 634 Springvale Road Great Falls (Reduced $50,000)
- 2518 Avon Lane Falls Church(Reduced $50,000)
- 1674 Chain Bridge McLean (Reduced $70,000)
The properties listed are a small selection of properties available in the Tyson’s Corner area. For a full list of properties listed on MLS and private exclusives, please contact Brandy Schantz.
This regularly-scheduled sponsored Q&A column is written by Val Sotillo, Northern Virginia-based Realtor and Falls Church resident. Please submit your questions to her via email for response in future columns. Enjoy!
Question: What can you tell me about living in the City of Fairfax?
Answer: The City of Fairfax is an independent city in the Commonwealth of Virginia, gets its name from Thomas Fairfax, 6th Lord Fairfax of Cameron, who had five million acres of land located in Northern Virginia. It is home to George Mason University but it’s more than just a college town. The city is rich in history and its attractive blend of commercial, office, retail and residential properties combines the charm of a small town with the opportunities of a thriving urban area.
What’s Great About The City of Fairfax:
Location — Fairfax is located minutes away from Tysons. It has its own Metro Station (Vienna-Fairfax) and it’s the last stop on the orange line. It is located off of Route 50 and I-66, which provides quick access to Dulles Toll Road, 495 and can take you to D.C. in 25 minutes. You can get to Dulles Airport in 20 minutes. Overall, it’s a great location.
Great sense of community — Fairfax has a great sense of community and they do an excellent job at keeping residents informed with all their news, events and activities with their monthly newsletter.
Things to do — Parades, festivals, fireworks, concerts, farmer’s market, bingo at the Fire Station… you name it! A few of my favorite events are Celebrate Fairfax, and the upcoming City of Fairfax Fall Festival, a festival with over 400 arts, crafts, food vendors, children’s activities and three stages of music and entertainment for all ages.
You can visit Civil War sites such as Ox Hill Battelfield Park, enjoy one of the many parks and recreational areas including basketball, tennis and volleyball courts. Or take Fido to the brand new Fairfax City Dog Park.
Scooters and bikes are now available for rent to stroll around the city, just keep in mind that the City of Fairfax does not allow e-scooters or e-bikes on sidewalks or walking trails, but they are permitted on the road and in bike lanes.
There are endless dining and entertainment options, but a few favorites are The Auld Shebeen for drinks, live music, or trivia, Sisters Thai and Artie’s for great food.
Here’s a map with the best Fairfax attractions.
Housing
There are many different options for detached homes, townhomes and condos. Within the City of Fairfax limits there are 62 properties for sale, ranging from a 1 bedroom condo in Mosby Woods for $175,000, to a new custom built 5 bedroom single family home for $1,295,000. You can see the active listings here.
Seventy properties are under contract, ranging from a 1 bedroom condo at $179,900, to a new custom built, 5 bedroom single family house at $1,295,000.
In the past 6 months, 41 condos were sold for a median price of $220,000; 36 townhouses were sold for a median price of $646,500; and 149 single family homes sold for a median price of $575,000.
What’s Next For Fairfax City?
Amongst current developments, Point 50 is under construction (10412 Fairfax Blvd) with 48,199 square feet of retail space, including a grocery store under 30,000 square feet and 18,000 square feet of additional retail/restaurant space. Scout on the Circle is another development close to completion.
The city is definitely keeping up with the ongoing growth and development and continues to evolve to accommodate changing needs of residents and businesses. The City of Fairfax 2035 Comprehensive Plan was adopted by the City Council and it was developed around 14 content areas, categorized into the Land Use, Multimodal Transportation, Environment and Sustainability, Economic Development, and Community Services chapters.
Their goal for 2035, is to be a city with a close-knit community and a population that is diverse in its culture, demographics and lifestyles, that capitalizes on its location in the center of the growing region and with easy access to the nation’s capital.
I will keep you posted!
If you’d like more information, or would like a question answered in my bi-weekly column, please reach out to [email protected]. I hope to hear from you soon.
Val Sotillo is a licensed Realtor in Virginia, Washington D.C., and Maryland with Real Living At Home, 4040 N. Fairfax Drive, Suite #10C Arlington, VA 22203, 703-390-9460.
Three Stones Residential agents pride ourselves on our consultative service approach, local expertise and real estate market knowledge. With over 26 years of business experience in the DMV, we have consistently performed in the top 2% of local Realtors and are currently the #1 group at Keller Williams Metro Center.
1911 Prout Place, Falls Church
6 BD/5 BA
Agent: KW Metro Center
Listed: $1,489,000
Open: Sunday 12-2 p.m.
519 S. Spring Street, Falls Church
6 BD/6.5BA
Agent: KW Metro Center
Listed: $1,599,900
Open: Sunday 2-4 p.m.
802 Randolph Street, Falls Church
4 BD/3 BA
Agent: Keller Williams Realty Falls Church
Listed: $850,000
Open: Sunday 2-4 p.m.
9700 Cinnamon Creek Drive, Vienna
4 BD/3 BA
Agent: Long & Foster Real Estate, Inc
Listed: $749,900
Open: Sunday 1-4 p.m.
8600 Cottage Street, Vienna
3 BD/2.5 BA
Agent: McEnearney Associates, Inc
Listed: $695,000
Open: Sunday 1-3 p.m.
6363 Old Dominion Drive, McLean
4 BD/2.5 BA
Agent: McEnearney Associates
Listed: $829,000
Open: Saturday 2-4 p.m. & Sunday 1-4 p.m.
1734 Fairview Avenue, McLean
6 BD/6.5 BA
Agent: Keller Williams Realty Falls Church
Listed: $1,739,500
Open House: Sunday 2-4 p.m.
Our role is to offer sound advice and guidance to our clients in order for them to achieve their goals in either buying, selling, leasing or managing real estate. We are truly “Your Home… for Everything Real Estate.” To schedule a private showing of these or any other properties of interest please do not hesitate to contact us here or email us at [email protected].
Welcome to Luxury For Less, a weekly column highlighting the best deals in luxury real estate. Written by Brandy Schantz of TTR Sotheby’s International Realty, Luxury For Less offers tips and tricks navigating the competitive real estate market and securing the home of your dreams. To learn more, visit ttrsir.com.
Goodbye summer! Summer of 2019 really ended in such a beautiful way with weather so gorgeous I momentarily thought I was in California.
The market really slowed down in the last weeks of summer and as a result, we have a lot of recently reduced properties. I’m expecting a lot of new listings to come on this week so if you decided to step out of the real estate market this year because it was just too competitive, this is a good time to step back in and give buying a home a chance.
This week’s feature home is in Great Falls. Great Falls is a great place to find a lot of space, a lot of land, a lot of wow factor and a great price. I’ve featured quite a few wow homes in Great Falls and this one is no different. It has an amazing pool and cabana and is perfect for having a bit of privacy while still being close to amenities. Recently reduced $75,000, this one is worth seeing!
9998 Blackberry Lane Great Falls (Reduced $75,000)
Check out the rest of this week’s Luxury for Less listings:
- 116 Tapawingo Road SW Vienna(Reduced $50,000)
- 102 Tapawingo Road SW Vienna (Reduced $20,000)
- 1319 Calder Road McLean (Reduced $200,000)
- 2327 Dale Drive Falls Church (Reduced $36,000)
- 11714 Crippen Court Great Falls (Reduced $46,000)
The properties listed are a small selection of properties available in the Tyson’s Corner area. For a full list of properties listed on MLS and private exclusives, please contact Brandy Schantz.
Three Stones Residential agents pride ourselves on our consultative service approach, local expertise and real estate market knowledge. With over 26 years of business experience in the DMV, we have consistently performed in the top 2% of local Realtors and are currently the #1 group at Keller Williams Metro Center.
1911 Prout Place, Falls Church
6 BD/5 BA
Agent: KW Metro Center
Listed: $1,489,000
Open: Sunday 1-4 p.m.
3272 Rose Glen Court, Falls Church
5 BD/2.5 BA
Agent: RE/MAX West End
Listed: $619,900
Open: Sunday 12-2 p.m.
6940 Cavalier Trail, Falls Church
4 BD/4 BA
Agent: United Real Estate
Listed: $875,000
Open: Sunday 1-4 p.m.
3005 Pine Spring R0ad, Falls Church
4 BD/3.5 BA
Agent: Maple Realty Llc
Listed: $849,999
Open: Sunday 1-4 p.m.
102 Tapawingo Road SW, Vienna
5 BD/4.5 BA
Agent: Berkshire Hathaway HomeServices PenFed Realty
Listed: $1,469,900
Open: Saturday, 12-5 p.m.
10116 Tamarack Drive, Vienna
4 BD/3 BA
Agent: Long & Foster Real Estate, Inc
Listed: $785,000
Open: Sunday 1:30-4 p.m.
Our role is to offer sound advice and guidance to our clients in order for them to achieve their goals in either buying, selling, leasing or managing real estate. We are truly “Your Home… for Everything Real Estate.” To schedule a private showing of these or any other properties of interest please do not hesitate to contact us here or email us at [email protected].
Three Stones Residential agents pride ourselves on our consultative service approach, local expertise and real estate market knowledge. With over 26 years of business experience in the DMV, we have consistently performed in the top 2% of local Realtors and are currently the #1 group at Keller Williams Metro Center.
The following properties were recently listed in the Tysons, McLean, Vienna and Falls Church areas.
- 6041 Brook Drive, Falls Church, VA — $949,888
- 102 Tapawingo Road SW, Vienna, VA — $1,469,900
- 7605 Marian Court, Falls Church, VA — $689,900
- 7127 Alger Road, Falls Church, VA — $499,000
- 2020 Highboro Way, Falls Church, VA — 742,000
- 1607 Charnita Court, Vienna, VA — $859,000
- 6060 Sugarstone Court, McLean, VA — $1,375,000
- 8220 Crestwood Heights Drive Unit 301, McLean, VA — $735,000
Our role is to offer sound advice and guidance to our clients in order for them to achieve their goals in either buying, selling, leasing or managing real estate. We are truly “Your Home… for Everything Real Estate.” To schedule a private showing of these or any other properties of interest please do not hesitate to contact us here or email us at [email protected].
Welcome to Luxury For Less, a weekly column highlighting the best deals in luxury real estate. Written by Brandy Schantz of TTR Sotheby’s International Realty, Luxury For Less offers tips and tricks navigating the competitive real estate market and securing the home of your dreams. To learn more, visit ttrsir.com.
It’s a slow week in real estate with school starting and the Labor Day weekend just around the corner.
This is a great time to enjoy the last week of the pools being open or take one last trip to the beach before we settle in to fall. There are still a few great homes to see before the weekend. Today’s feature is an Evergreene home in Vienna. I am often asked about Evergreene build homes in Vienna because while the small business custom home builders are building bigger and bigger, Evergreene still puts out a great home with a bit smaller footprint.
Vienna is seeing a surge of homes over 6,000 sq. ft. In some areas, homes over 10,000 sq. ft. are being built with buyers already lined up or even being built by the owner of a lot. Evergreene still builds homes below 4,000 sq. ft. above grade allowing them to sell homes at a lower price.
102 Sharon Lane NW is walkable to downtown Vienna and move in ready for anyone looking for a new build home in Vienna that feels cozy.
102 Sharon Lane NW Vienna (Reduced $5,900)
Check out the rest of this week’s Luxury for Less listings:
- 1118 Amanda Drive Great Falls (Reduced $10,000)
- 1625 Seneca Avenue McLean (Reduced $22,000)
- 9946 Vale Road Vienna (Reduced $150,000)
- 106 Smallwood Way Falls Church (Reduced $19,400)
- 1838 Dalmation Drive McLean (Reduced $15,000)
The properties listed are a small selection of properties available in the Tyson’s Corner area. For a full list of properties listed on MLS and private exclusives, please contact Brandy Schantz.
This regularly-scheduled sponsored Q&A column is written by Val Sotillo, Northern Virginia-based Realtor and Falls Church resident. Please submit your questions to her via email for response in future columns. Enjoy!
Question: What are closing costs in a real estate transaction? Who pays closing costs in a home sale and which terms are negotiable?
Answer: When it comes to budgeting for a home purchase or sale, you’ll also need to plan for closing costs, which are due at settlement day.
Closing costs vary by state and locality, but it is customary in Virginia, D.C. and Maryland for each side to cover the taxes and fees associated with their portion of the transaction and the seller to pay the commission to both the broker/agent representing them and the broker/agent representing the buyer.
Sellers pay about .25% of purchase price, plus the commission they’ve agreed to, in closing costs. Buyers pay about 2.5-3% of purchase price in closing costs.
Here are the standard closing costs on each side of a home sale for transactions in Fairfax. Virginia:
Sellers
All of the fees listed below are automatically deducted from the buyer’s payment so you do not pay any of these out-of-pocket, except for the resale package if your home is part of an HOA or Condo Association.
Commission: Sellers traditionally cover the commission for their representing broker/agent and offer a commission to the buyer’s representing broker/agent.
Title Fees: This covers the legal review and preparation of the sale documents and usually runs about $500-$1,000.
Transaction Taxes: The seller pays a transfer tax to the state, also known as the VA Grantor tax.
Prorations: You may owe or be credited for property taxes or HOA/Condo fees, based on the status of your tax payment.
Resale Package: If your home is in an HOA or condo building you are required to provide the buyer with a resale package including by-laws, reserve balance, Association inspection, etc. This fee varies by community but is usually $100-$300.
Buyers
All of the fees/taxes listed below are included in your costs due at closing, except the appraisal, inspection costs and in some cases a condo questionnaire, which are all paid out-of-pocket while you’re under contract.
Lender Fees: This includes the cost of processing your loan, any points paid to reduce your interest rate, appraisal cost and any other lender-related costs. These costs often total at least $1,000-$2,000+, plus any points purchased to bring down your rate.
Title Fees: These charges include lender-required title insurance, optional buyer’s title insurance, deed preparation, title abstract search, land survey and other general processing fees to prepare the legal and administrative side of your purchase. These costs usually cost $500-$1,500, plus the cost of title insurance (if required and/or opted for), which is usually about .25-.75% of purchase price.
Transaction Taxes: You’re responsible for a handful of state and local taxes, some fee-based like the deed recordation fee and others are a percentage of the purchase price like the state and county transfer tax. Expect to pay roughly .5-.75% of purchase price in Government fees and taxes.
Welcome to New Homes, a monthly column highlighting the new construction real estate market, written by Conor Sullivan and Dave Moya of Three Stones Residential at Keller Williams Realty. We are here to share our experience and expertise in lot acquisition, financing and construction of custom homes.
When you’re buying a home, you have to make lots of decisions — where you want to live, what type of house you want to look at, and most importantly, deciding between moving into an older home or building a brand new one.
There’s no getting around it: up-front costs of building a new home are more expensive than buying one that already exists. However, the average home sales price continues to climb in the Northern Virginia region. In July, the average home sales price was $619,082, up 1.58% from July 2018.
But just because the sticker price of an older home is significantly less doesn’t mean that there aren’t additional hidden costs associated with it. Older homes can potentially come with a barrage of problems, which requires extra cash to fix.
So, should you buy a new home — and can you actually afford to do it? Here’s a breakdown of everything you need to know about buying a new home versus an old one, plus the logistics of securing a loan.
Weighing The Pros And Cons
When trying to determine if you can afford a new home, it’s important to know all of the pros and cons before you buy. Here are some things to consider:
Additional Maintenance: An older home may be fine today, but eventually there will be maintenance that you’ll have to take on.
Warranty: An old home doesn’t always come with a warranty like a new home will. In many states, including Virginia and the District of Columbia, home builders are legally required to provide a home warranty for at least a year on workmanship and materials.
Age of Appliances: An older home may come with new appliances or may not. The average cost of replacing appliances can range between $350 and $8,000.
Renovation Costs: Not every room in an older home will be your taste, which could cost extra money for renovation. A new home can be designed exactly to your specifications.
The Logistics Of Buying A New Home
Buying a new home has a slightly different process than buying an existing home. Here’s what you need to know:
You’ll need to secure a construction loan — A construction loan is needed to pay for the work to be completed on your home. You can secure a stand-alone construction loan and then get a regular mortgage later, or a construction-to-permanent loan (which combines the two).
A construction loan requires a bigger down payment because it is considered “riskier” for the lender, and the interest rates are typically higher than a traditional home loan.
You may need a jumbo mortgage — Because new builds are more expensive, you may need a “jumbo mortgage,” or a home loan that is bigger than the conforming loan limits (a fancy term for the maximum amount Freddie Mac or Fannie Mae is allowed to loan). To qualify, you’ll need a credit score of at least 680 and a debt-to-income ratio of 43% or lower.
Here are some current options for buying new homes in the Tysons area:
- 1911 Prout Place, Falls Church — $1,489,000 — 6,032 sq. ft.
- 519 S. Spring Street, Falls Church — $1,599,900 — 5,540 sq. ft.
- 711 Frederick Street SW, Vienna — $2,175,000 — 7,850 sq. ft
- 2316 Trott Avenue, Vienna — $1,789,000 — 6,174 sq. ft.
Want to learn more about buying or building a brand-new house? Three Stones Residential specializes in matching homeowners with the right builder and lot location. If you have any questions about new homes or builders, please email us at [email protected] today to get into your dream home. Let us help you love where you live.
Want to learn more about financing a New Home build? McLean Mortgage (NMLS ID: 99665) can handle all of your construction financing needs. You can build your new home with as little as 5% down. Contact construction loan expert Troy Toureau (NMLS ID: 5618) at 301-440-4261 or AnyHomeLoans.com to learn more.
