The in heart of FairFax County lies Tysons Corner. It is Virginia’s largest office market and one of the leading business centers in the nation with 26.3 million square feet of office space. Office buildings are typically mid-rise or high-rise in design. There are a few smaller structures and townhouse office condos around the periphery of the submarket. The largest business parks are Tysons II, West*Gate, West*Park and Westwood Corporate Center.

Fairfax County’s 1 million citizens are diverse and well-educated.

Residential Real Estate

Fairfax County and the Washington metropolitan area boast a broad variety of homes, locations and prices. Housing is available for individuals seeking an urban, suburban, small town or country feel. High-rise apartments, condominiums, single family homes and townhouses are plentiful.

Fairfax County’s major residential communities offer a broad spectrum of choices for the home-buyer or renter. The Northern Virginia Association of Realtors maintains a list of agents in northern Virginia. Real Estate assessment information for homes is available by address or tax map reference number on the Fairfax County Government Web site.

Metro Area Housing Affordability

*County states provided by Fairfax County Economic Development      Authorityhttp://www.fairfaxcountyeda.org/demographics

For additional information regarding Fairfax County history and facts, contact

Jeff Wu
Century 21, New Millenium
571-248-1110
240-994-7938
Jeff@AgentKnowsHomes.com
www.AgentKnowsHomes.com

As you plan your next vacation, take five minutes to review these simple, yet often overlooked home safety practices that deter burglars from breaking into your house. Your home will appear to be lived in whether you are away for only a weekend or for weeks at a time.

Give a Neighbor A Spare Key
Leave a key with a trusted neighbor in case anything happens to your house while you are away, or in case you get locked out. It’s usually not a good idea to leave a key hidden outside your house, especially in more urban areas.

Change Your Locks
It is usually a good idea to change the locks on your new home when you move in. You never know who might have keys to your house. If your new home does not have deadbolts on all ground-level doors, consider installing them. If a sliding glass door is easily accessible, it is a good idea to put a strip of wood in the lower tract.

Protect Your House Keys
Don’t give repairmen a key, and don’t give people fixing your car your whole set of keys. Your house keys can be easily duplicated and your address can usually be obtained from your license plate number.

Lock Doors And Windows
Keep your doors locked, even if you step out for just a few minutes. Especially remember to lock all doors at night and when you go on vacation. Similarly, keep your windows locked. Check that all windows have locks when you move into a new house. If they don’t, install them or replace the window.

Make Your Home Appear Lived-in
Install automatic timers to turn lights and radios on and off at appropriate times. Ask a friend or neighbor to pick up your mail, or have it forwarded it to the post office. Contact your local newspaper to stop delivery and consider having someone mow your lawn and water the flowers. Lower the sound of your telephone and answering machine so they cannot be heard from outside and make sure your outgoing message does not imply that you are away.

Consider Installing An Alarm
You may also want to install an alarm if the house doesn’t already have one. If you move into a new house with an alarm, make sure you get accurate (written) directions on how to operate it.

 For additional information on keeping your home safe, please contact:

Jeff Wu
Century 21, New Millenium
571-248-1110
240-994-7938
Jeff@AgentKnowsHomes.com
www.AgentKnowsHomes.com

WATER CONSERVATION AND LANDSCAPING  

Common Areas/Buildings

• Landscaping Committee. Does your condo association or apartment building have a building and grounds committee?  Attend a meeting or two to find out more about how your landscape is managed.

• Review landscaping contract, and recommend that the contractor:
  • Use native plants,
  • Minimize the use of fertilizers and pesticides,
  • Leave some grass trimmings on the grass for natural fertilizer (grasscycle),
  • Recycle leaves and plant trimmings (if feasible),
  • Take care with lawn watering, allowing the lawn to go dormant during droughts.
• Use the rainwater.   Direct downspouts to planted beds or lawn areas, so that the rainwater from the building can irrigate the plants. 
• Collect rainwater.   Consider installing rain barrels or cisterns to collect and store rainwater for gardeners to use, or for dry periods.
• Use the landscape to help manage stormwater.   If you have areas that are very wet from runoff from a building or parking lot, consider installing a raingarden to help absorb the stormwater.  Green roofs are another option to absorb stormwater runoff from a building’s roof, and also help insulate and improve energy efficiency in the building.  If you are replacing pavement or sidewalks, consider permeable paving stones or other materials that allow some of the water to drain into the soil, and reduce runoff.

Individual Unit Owners

As many condominium units are not individually metered for water use, unit owners may not know how much water they are using or if they have a leak.

• Toilets and laundry are the major water users in most homes (view statistics on average water usage).
• Encourage unit owners to install low flow toilets, or the flapperless toilet model, to help conserve water.  The association could consider a bulk purchase of toilets to offer residents a reduced cost.
• Choose Energy Star when replacing a clothes washer to save water and energy.
• Check pipes and faucets for leaks.  Even small leaks can waste significant amounts of water. Water leaks are not only a waste of water, but also of the energy needed to heat the water.
• Turn off the water when brushing teeth or shaving.
• Try to keep your shower to five minutes or less.
• Install low flow showerheads and faucet aerators. Look for ones that use no more than 2.5 gallons per minute at maximum flow (for showerheads) and 2.2 gallons per minute maximum flow (for faucets).
• Check the toilet for leaks. Leaks inside a toilet can waste up to 200 gallons of water per day. Toilet leaks can be detected by taking the tank cover off and placing several drops of food coloring in the tank. You have a leak if you see the coloring in the bowl after a few minutes. Most leaks involve the rubber flapper or shut off valve found in the tank. Repair as soon as possible.
• View other water conservation tips.

For additional information on making your condo green, please contact:

Jeff Wu
Century 21, New Millenium
571-248-1110
240-994-7938
Jeff@AgentKnowsHomes.com
www.AgentKnowsHomes.com

ENERGY EFFICIENCY

Common Areas/Buildings

• Collect your data: electricity, gas, water.  Understand your past energy use history.  Determine a scope of potential improvements.
• Get a whole-building energy audit by a qualified firm that has tackled multifamily housing before.
• Get pricing for a capital improvement package.  Try not to just grab low-hanging opportunities.  Do you have enough in capital reserves for a package of cost-effective energy investments?  If so, sell the numbers to your membership.
• Energy-saving performance contracting (ESCO) is an alternative financing option. 
• For Bulk Purchases, check out the Quantity Quotes web site for bulk pricing on light bulbs, light fixtures, clothes washers, dehumidifiers, dishwashers, refrigerators, or room air conditioners.
• Move from master metering to individual metering?   Studies have shown that changing from one meter for an entire building to individual unit meters can cut household energy use 10%-50%. 

Individual Unit Owners

• Have heating/cooling equipment serviced on a seasonal basis for preventive maintenance, optimal operation and safety checks.
• Choose Energy Star for heating and cooling equipment, major appliances and lighting.
• Unplug energy vampires.  All those little chargers and electronic devices that respond to a remote control draw charge even when they are not in use.  Plug them into a power strip and turn it off when they are not being used.
• Get an energy audit - an energy audit is an assessment of your homes insulation, heating/cooling equipment, and overall “building envelope” can help you figure out what improvements to make first.
• Seal and insulate - air leaks around windows and doors can waste a lot of energy.  

For additional information on how to make your condo green, contact…..

Jeff Wu
Century 21, New Millenium
571-248-1110
240-994-7938
Jeff@AgentKnowsHomes.com
www.AgentKnowsHomes.com

House hunting can be an exciting time for most people, as they search for the perfect house. Becoming a homeowner can be a rite of passage for first time homeowners. The search for a house, whether it’s the first time or just one of the many in a lifetime, is a process. There are many mistakes that house hunters sometimes fall prey to, that can be avoided before the “for sale” sign comes down. Before buying, consider the following key ideas.

1. It’s a Real Fixer Upper

Every house has some potential, and fixer-uppers tend to hypnotize some potential buyers into believing that a house that is listed in “as is” condition can be rehabilitated into the mansion of their dreams. The initial price may be cheap, a real bargain even, but the costs associated with repairing or rehabilitating a fixer upper house, can quickly add up. There are some people who can benefit from buying this type of house, but those that will be required to hire out for all the major repairs, may want to reconsider.

2. The Desperate Purchase

The desperate purchase is often the result of rushing to buy a house. This could be the result of selling a home without purchasing another, or just a case of house hunting fatigue. Planning is key and desperate purchases are permanent, so a little forethought can go a long way in choosing a house to buy. House hunting fatigue often creeps in after months of looking but not finding the perfect home. When the pressure to find a house is high, desperate purchases are more common. To avoid buying a house that will be regret in a few months, take the time to look longer or explore alternatives before buying. Temporarily moving to a rental property until the right house comes along may be an alternative.

3. Built in 1950, Interior Design by Donna Reed

Hidden costs of redecorating a house that may be sound in value, but strikingly outdated in the interior decorating arena. There are many of these houses on the market. Sometimes the homes have great value, but the previous owners never bothered to update the interior in the forty years of living there. There is a difference between cosmetic changes and painting, and more extensive changes to an interior, such as putting in new kitchen cabinets, flooring, and countertops. The less work that you have to do to the interior when you move in, the more money for the mortgage. Interior redecorating can add up, and some new homeowners may come to find that they cannot make immediate changes to the interior after moving in. Others plan to make changes and just never seem to find the right time, leaving them with a home that is part modern, part Donna Reed style.

4. Breaking the Bank

This mistake is similar to the idea of being “house poor.” Most house hunters enter the real estate search with a certain budget in mind. This is often a range of house prices that can be quite broad, depending on the amount the mortgage company will approve for. Selecting a house that stretches into the upper limits of affordability could be a problem if paying the mortgage depends on an income that will stay the same or grow over the next 15-30 years. Pouring all your savings and a large percentage of the weekly paycheck into a house may not be as comfortable to do in five or ten years. If it means that you have to sacrifice eating out and taking vacations until the mortgage is paid off, the house is probably going to break your bank account..

5. The Sell Out

The sell out is typically the result of listening to an aggressive realtor, who has convinced you that you will never find the exact house that you were looking for on the market, and that you should consider something else. You sell out your dreams and settle for a house that leaves you less than excited to move into. Another type of sell out happens when buyers become preoccupied with certain neighborhoods or areas and are willing to sell out quality for a location. Sometimes this works, but most sell out purchases don’t hold their value. A closet-sized house in an upscale section of town may not feel as cozy in a few years.

For additional information on how to avoid buying the wrong house, please contact:

Jeff Wu
Century 21, New Millennium
571-248-1110
240-994-7938
Jeff@AgentKnowsHomes.com
www.AgentKnowsHomes.com

Avoid These Mistakes When Selling Your House

1. DON’T PICK A REALTOR FOR THE WRONG REASONS

Choosing a Realtor based on convenience rather than experience, may prove disastrous. When working with a real estate agent, it’s critical that you have full confidence in that agent’s experience and education. A skilled, knowledgeable agent should be able to explain to you exactly why your home needs to be priced at a certain level – compared to recent listings and sales of homes similar to yours. Experienced agents also know exactly what the current pool of buyers are looking for in relation to particular styles and price ranges of properties. A skilled agent can recommend changes that will enhance the salability of your home, thus increasing the price – and/or decreasing the length of time before a sale.

2. DON’T TRY TO SELL TO THE “LOOKY-LOOS”

A prospective buyer who shows interest because of a “for sale” sign he saw may not really be interested in your property. Often buyers who do not come through a realtor are a good 6-9 months away from buying, and they are more interested in seeing what is out there than in actually making a purchase. They may still have to sell their house, or may not be able to afford a house yet. They may still even be unsure as to whether or not they want to relocate.

Your realtor should be able to distinguish realistic potential buyers from mere lookers. Realtors should usually find out a prospective buyer’s savings, credit rating, and purchasing power in general. If your realtor fails to find out this pertinent information, you should do some investigating and questioning on your own. This will help you avoid wasting valuable time marketing towards the wrong people. If you have to do this work yourself, consider finding a new realtor.

3. DON’T THINK YOU NEED TO BE HOME TO EXPLAIN THINGS TO A BUYER

You will be better served if you allow the Realtors to do their job without you there. Most potential buyers usually feel more comfortable if they can speak freely to the real estate professional without the owners being present. If people unaccompanied by an agent request to see your property, you should refer them to your real estate professional for an appointment.

4. BAD PRICING STRATEGY

Most sellers are aware they shouldn’t price their house too low. However, it’s all too common that sellers overestimate what their house can sell for and price too high.
The logic they often go by is that they can always “accept a lower offer” if the price they’re suggesting doesn’t work. However, what usually happens is buyers are just scared off by the higher price and don’t even come to look at your property.

5. DON’T FORGET ABOUT HEALTH AND SAFETY ISSUES

Be upfront and disclose to your Realtor any problems with the property. The problems are going to be discovered anyway. A decade ago, health and safety issues were rarely a part of the typical real estate transaction. Today, however, it’s common for inspections relating to health, safety, and even environmental concerns to be a part of most sales contracts. California law requires the seller to disclose to the buyer any knowledge of existing property problems. In many cases, these issues have been or can be factored into the home’s listing price.

For additional information on the mistakes to avoid when selling your house, contact

Jeff Wu
Century 21, New Millenium
571-248-1110
240-994-7938
Jeff@AgentKnowsHomes.com
www.AgentKnowsHomes.com

                           TYSONS CORNER

The Dulles Metrorail and Interstate 495 HOT Lanes projects are moving full steam ahead, and the traveling public in Virginia will reap the rewards of these significant transportation additions by 2013.

Hot Lanes are a system that will provide new travel choices for a faster and more reliable trip.

Work on five new Metrorail stations is underway, with four in Tysons Corner and one in Reston.  Trains are expected to begin servicing these stations in late 2013.

Both of these projects will increase transportation options in Northern Virginia. In the mean time, there are numerous delays. To ease these impacts, Virginia Megaprojects created a traffic management plan (TMP) to offer alternatives to lane closures and detours.

This plan includes three new bus services: Tysons Connector, a free shuttle serving Tysons Corner at lunchtime during the week; Tysons Express, a Woodbridge to Tysons Corner commuter bus with free Wi-Fi; and a Loudoun County express bus to Tysons Corner to launch in fall 2010.

Find more information about transportation alternatives and construction at www.VAmegaprojects.com. Drivers can sign up for an e-mail alerts and track the progress of all Megaprojects: Dulles Metrorail, Interstate 495 HOT Lanes, Fairfax County Parkway extension, Interstate 95 widening and Telegraph Road Interchange.
Find more information about transportation alternatives and construction at www.VAmegaprojects.com. Drivers can sign up for an e-mail alerts and track the progress of all Megaprojects: Dulles Metrorail, Interstate 495 HOT Lanes, Fairfax County Parkway extension, Interstate 95 widening and Telegraph Road Interchange.

Under contract in Tysons Corner 22182 zip code (6-30-10)

61 different homes are “under contract” in the Tysons Corner zip code 22182.  Those homes are in 42 different neighborhoods.  2 are condos, 11 are townhomes and the remaining 48 are single family detached homes.  3 of the 61 Tysons corner properties under contract in the 22182 zip code are described as bank owned.  Another 8 in the Vienna zip code are described as short sales.

Amazingly, at this moment in time, the other zip code that spans Tysons Corner, the 22102 McLean zip code also has 6 1 properties under contract.

Tysons corner 22102 zip code (McLean) under contract real estate

Of these Tysons Corner/McLean zip code, 22102, homes: 28 are single family detached homes, 3 are town homes, and 30 are condos.  In terms of Distressed sales in this tysons corner zip code, there is 1 bank owned home for sale, and 16 that are described as short sales.

So plenty of activity going on right now in the Tysons Corner zip codes.  Real Estate being put under contract.  In a few days we’ll talk about what actually went to settlement (a.k.a. SOLD) in June of 2010 in the Tysons Corner area.

data from MRIS