Update on the evolution of the Tyson’s Corner area  from the Dulles Metro construction, the public/private partnership HOT Lanes project, and life in general.

Photo Blog #3

 Want to know your home’s value?

  For more information on homes in Tysons, McLean, Reston and the surrounding area,  contact Jeff at Jeff@AgentKnowsHomes.com,

Cell: 240-994-7938, Office: 703-556-4222

05-03-10 (11:19pm) Right now – Here are the quick facts of the Tysons Corner Real Estate – Focus on Townhomes on the market right now.  All of the 10 properties, Tysons Corner Townhomes, are located in the Vienna zip code of 22182.

- Properties located in the Neighborhoods = Courts of Tysons, Courthouse Station (4), Madrillon Springs, Dunn Loring Highlands, Tysons Manor, Hahn Property, and Tysons Terrace

- Properties ranging in asking price from a 2 bedroom 2 bathroom interior unit with no garage at $360,000 to a 3 bedroom 3 and a half bathroom end unit with 2 car garage asking $649,000.

- None of these Tysons Corner townhomes are listed as bank owned or foreclosure

- 3 of these Vienna Real Estate properties are referred to as short sales

- These 10 Tysons Corner townhomes have been on the market from 14 days to as much as 368 days.

See some of the data below =

For sale right now in Tysons Corner Real Estate - Vienna Townhomes 22182

Tysons Corner Location opening at 1pm 5/5/10

The Tysons Corner DMV (Department of Motor Vehicles) will be opening at 1pm on Wednesday May 5th, 2010.   They are going through some technology upgrades.  Business can still be done at www.dmvNOW.com, but if someone wants in person help they will have to wait until 1pm for Tysons Corner, or go to other Northern Virginia DMV locations such as: Sterling (100 Free Court) or Fair Oaks (11805 Fair Oaks Mall).

Tysons Corner Real Estate - Townhomes Sold in March 2010

In the Tysons Corner Area Real Estate world of Townhomes, there were 8 homes that sold in the Month of March.  1 was in the McLean 22102 zip code, the other 7 were in the Vienna 22182 zip code.  The properties ranged from an interior townhome built in 1972 to a an end unit 2 car-garage townhome built in 1990.  The sold prices for this sector of Tysons Corner Real Estate ranged from $389,000 all the way upto $610,000.  Other key statistics about the recent past month’s Tysons Corner Real Estate sold =

* Average Days on Market = 47.5

* Average Sold to List Ratio = 99.8%

* Average Net Sold to List Ratio = 99.2%

* Average Seller Subsidy = $2,868.75

* Homes were sold in the following Tysons Corner Area Communities = Colonies of Madrillon, Courthouse Station, Courts of Tysons (2), Hahn Property (3), and Hallcrest Heights

* Interesting market statistic = 5 of the 8 Tysons Corner Townhomes sold in less than a week on the market

See the data yourself, Tysons Corner Real Estate = March 2010 Townhomes Sold =

Tysons Corner Real Estate - 8 Townhomes sold in March 2010

data from MRIS

In March 2010 there were 18 condos sold in the Tysons Corner Real Estate Market.  The most of those were in Park Crest, the luxusious new Tysons Corner condominium that is right next door to the (also new) Harris Teeter Grocery, and not far from Tysons Corner Galleria Mall.  Park Crest had 9 of the 18 sales.  That is amazing for a community that was close to 80% sold out before breaking ground then had about half of those people walk away from their deposits when the market turned leaving them in the 40% sold range.  They’ve definately come a good ways from that bottoming out point.  I’m sure it helps that they’re on the FHA approved list now, and of course the drop in their asking prices doesn’t hurt either.  Either way, their luxury and style fits right in with the energy in Tysons Corner.

The rest of the sales of Tysons Corner Condos in March 2010 occured in: Fountains at McLean (3), Gates of McLean, Lillian Court (2), and the Rotonda (3).

Sales ranged as low as $205,000 in the Fountains for a 1 bedroom, to as high as $745,200 for a 2 bedroom 2 bathroom Tysons Corner home.

The non Park Crest Condos (data not tracked for new home days on market) were on the market an average of 54 days. 

Of all the tysons corner condos sold there was an average of $4,300 in subsidy from the seller to the buyer.

3 of the 18 tysons corner condos sold were listed as potential short sales.

0 of the condos, none, of the tysons corner real estate we’re referring to above was listed as bank owned or foreclosure.

The sold vs. list ratio of the properties was 99.5%, while the net sold vs. list ratio was 98.5%.

See all the Tysons Corner Condos sold in March 2010 in the chart below.

Tysons Corner Condos Sold in March 2010

A little known loan program could help you get the money for your Tysons Corner real estate purchase

FHA loans are definately back in style as they are the lowest down payment loan program available (excluding VA loans).  However, there is a type of FHA loan that many people don’t know about.  I’m talking about the FHA 203 (K) loan.  It, like the more common type of FHA loan, is guaranteed by HUD/FHA.  The 203 (k) is different in that it provides funds for the purchase and renovation of a home.

This type of loan requires a 3.5% down payment and compliance with all normal FHA guidelines and loan limits (which range from $271,000 to $729,750) for 15 or 30 year mortgages.

As in any home purchase a great loan officer is critical to the process.  The FHA 203 (K) loan is no exception.  For a referral to a great loan officer send an email to Jeff@AgentKnowsHomes.com

For more information on the FHA 203 (k) loan program [a] send an email to the above email address to get connecteded to a great loan officer, or [b] check out bit.ly/PMSUt and www.RE-buildUSA.com and http://bit.ly/FHA203k

These loan programs are available to be used in Tysons Corner real estate, McLean Real Estate, Vienna Real estate, or any other area in the DC metro area and the rest of the country as well!

Tysons Corner Area by 495 (DC Beltway) + Route 123 3/21/10 (2)

Lets keep tabs visually on some of the local, Dulles Metro and HOT Lanes, construction going on in the Tysons Corner Area (McLean, Vienna + Surrounding).  These projects are exciting and also very present here regionally.  They have an impact on our area and the way we live, and of course real estate values.

Tysons corner Area = HOT Lanes construction by 495 (DC Beltway) and Route 66

Tysons Corner Area Construction by Route 7 (Leesburg Pike) and 495 (DC Beltway)Tysons Corner Area by Route 7 (Leesburg Pike) + 495 (DC Beltway) 2nd photo

Tysons Corner Area by 495 (DC Beltway) + Route 123 - 3/21/10 (1)

Tysons Corner Area by 495 (DC Beltway) + Route 123 3/21/10 (3)

Stay tuned in for regular photo updates as our area, what is Tysons Corner, progresses and evolves!

Photos taken 3/21/10 by Eric Randall

In the 2 zip code 22102 (McLean) and 22182 (Vienna), what I lovingly refer to as the Tysons Corner Area, in February 2010  there were 6 Townhomes sold.  These 6 homes were sold in 5 Tysons Corner communities = Amberwood, Courthouse Station (2), Hahn Property, The Reserve at Tysons Corner, and Tysons Manor.  Prices for these homes ranged from as low as $432,000 for the no garage, (built in 1970) 3 level town home in Tysons Manor, to as high as $826,750 for the practically brand new (built in 2009) 2 car garage Townhome at The Reserve at Tysons Corner.

Of the 6 townhomes sold in the Tysons Corner Area in February 2010, none were bank owned and none were short sale situations.  The average days on market was 24.  The average seller subsidy was $983.33.  These Tysons Corner townhomes sold for 98.34% of their list price at time of contract.

6 Townhomes sold in Tysons Corner Area (McLean + Vienna) in February 2010

data from MRIS

Today, 2/26/10, there are 35 properties for sale in the Tysons Corner area (McLean 22102 zip code + Vienna 22182 zip code) in the price range from $300,000 to $600,000. 

Quick Facts

- 19 are Condos, 8 are townhomes, and 8 are detached single family homes

- Communities with properties for sale in Tysons Corner Area in the price range $300,000 to $600,000 = Courthouse Station (2), Dunn Loring Garden, Eudora, Fountains at McLean, Hahn Property (2), Hallcrest Heights (2), Lillian Court (2), Madrillon Springs, Martin, Park Crest (only 2 listed), Regency at McLean (5), Rotonda (7), Spring Lake (2), Sunnybrook, The Colonies (2), The Trails, Tysons Townes, and Tysons Woods

- Distressed Properties (5 of 35 total properties) = 1 is a bank owned property, and 4 are listed as potential short sales.

Tysons Corner available real estate $300,000-$600,000

data from MRIS