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FALLS CHURCH NEWS-PRESS | FCNP.COM

FALL 2016 | PAGE RE-1

RealFallEstate 2016

Location is Still Top Priority for Homebuyers in Today’s Market by Grace Hodgman

Falls Church News-Press

It’s an age old saying, but it still rings true for home buyers who are in the market today, according to several real estate agents who work in the region: It’s all about location. “The three things that people generally look for are location, value and condition” said Louise Molton of Molton Real Estate, which operates primarily in Falls Church. And Falls Church City is one of the most desired places to live in Northern Virginia, according to area real estate agents. Falls Church City is popular due to its proximity to the Metro, other forms of transporta-

tion and school systems. School systems play a large role in determining where home buyers decide to buy a home. Houses feeding into McLean are very popular, as well as North Arlington, according to local real estate agents. All three of those localities have among the highest ranking school systems in the country. Bethany Ellis, another real estate agent who works primarily in Falls Church, also said that location is the top consideration in determining what home buyers want. “Location is always number one, I think that’s where most people start, number two is probably price” said Ellis, who works for Long and Foster, said. According

to Molton, the average house in Falls Church sells for $600,000. “The start for a detached home is $350,000 starting in [the Falls Church section of Fairfax County], which can go up to $2 million in Falls Church City” Molton said. Falls Church is a slightly less expensive alternative to North Arlington, having similar access to shopping and business centers like the Mosaic District. Sara Capoccia, a new owner of a cape cod style house, looked for several elements for a home, the key ones being upgraded kitchens and baths, a good backyard with a nice outdoor entertaining space,

Continued on Page RE-2

NEW DIMENSIONS PRESIDENT JENNIFER LANDERS shows off a stone countertop in one of the company’s custom homes. Real estate agent Bethany Ellis, who works primarily in Falls Church, said that synthetic countertops made out of tile, stone or granite are popular among home buyers. (Photo: Patricia Leslie/News-Press )

MORE INSIDE: The Market Before & After the Recession page RE-4 | Top F.C. Home Sales page RE-7 | F.C. Real Estate #’s page RE-8 JUST LISTED!

LOVELY IN LAKE BARCROFT!

This 4BR/3BA split-level has been recently updated and features granite kitchen, pristine hardwoods, and wood-burning fireplace! Separate dining room with sliding glass doors open to private backyard. 2-car garage, updated fixtures and more. Swim, boat, fish from this fabulous community just seconds to 2 private sandy beaches! Easy access to major commuter routes (50/66/495), Tysons, Arlington, and DC. Offered for $675,000

6336 Waterway Dr, Falls Church, VA 22044 Chrissy O’Donnell & Lisa DuBois 703.350.9595 | lisa@chrissyandlisa.com

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4BR/3BA home features open kitchen with tons of sunlight, updated bathrooms, and 3 decks! Renovated master suite with jacuzzi tub and private deck. Walkout basement with full bath/bedroom that opens to backyard. Lovely landscaped yard, expansive deck with hot tub that's perfect for entertaining! Offered for $680,000

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2BR/2.5BA with every upgrade imaginable! Fully reno’d open kitchen w/ ss apps, granite island & flagstone counters! Fully reno’d baths! Lower-level office nook w/ access to paver-stone patio & fire pit! Private deck, oversize paver-stone drive! Amazing ½ acre fully landscaped backyard w/ mature trees & fencing! Seconds to Falls Church’s shops, restaurants, & parks! Offered for $525,000

2760 Annandale Rd, Falls Church, VA 22042 www.2760AnnandaleRd.com Chrissy O’Donnell | 703.626.8374 Lisa DuBois | 703.350.9595

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Updated light-filled 5BR/3.5BA home features open main-level floorplan, hardwoods, large windows, fireplace, vaulted ceilings! Updated kitchen — granite, stainless steel, island & eating space — opens to spacious family room! 2 MBRs; large master suite addition w/ walk-in closet & double vanity! Oversized 2 car garage; private fenced backyard & more! Offered for $725,000

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6309 Eppard St, Falls Church, VA 22044 Lisa DuBois 703.350.9595 | lisa@chrissyandlisa.com

Chrissy O’Donnell | 703.626.8374 Lisa DuBois | 703.350.9595

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BUCOLIC SETTING INSIDE THE BELTWAY!

Renovated 4BR/2.5BA Cape Cod in sought after Sleepy Hollow! Gleaming hardwoods throughout, granite countertops in kitchen, renovated baths, 3 wood-burning fireplaces. Sunroom goes out to wonderful outdoor space for entertaining! Set on 1.5 acres — feels like you are in the mountains, but just 8 minutes to DC! Offered for $799,000

SOLD!

UPDATED IN FALLS CHURCH CITY! Relax on the southern-style front porch of this charming 4BR/3BA rambler that has been meticulously maintained. Updated throughout including gourmet kitchen that leads to stylish stone patio, great for entertaining. A lushly landscaped yard makes this house a wonderful place to call home! Separate 1-car garage. Walk to Metro! Sold for $945,000 *Sold as buyer’s agent

3062 Valley Ln, Falls Church, VA 22044

3253 Juniper Ln, Falls Church, VA 22044

3160 Holmes Run Rd, Falls Church, VA 22042

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R EA L E STATE

PAGE RE-2 | FALL 2016

FALLS CHURCH NEWS-PRESS | FCNP.COM

Current Home Buyers Make McEnearney ® Move In Ready a Top Priority ASSOCIATES, INC. REALTORS

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Massive Detached Garage. Spacious 4-bedroom, 3-bath home on 1/2 acre off Annandale Road in central Falls Church. Additional storage building and great driveway space. Garage is perfect for contractors. Ideal location!

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Sunny Condo in Lakefront Community. Completely remodeled 2-bedroom, 2-bath home features updated bathrooms, kitchen, appliances, systems and windows. Kitchen walks out to deck. Minutes to commuter routes, Tyson’s, Mosaic District and two Metros.

Sue & Allison Goodhart 703.362.3221 www.TheGoodhartGroup.com MLS# FX9738592

Continued from Page RE-1

and “charm and character from the past since nearly all the homes in this area were built years back” Capoccia said. Across the board, people are looking for move in ready houses. People tend to want a move in ready home, so that they can avoid renovations. When renovations are made the most common upgrades are decorative. New backsplashes and fireplace hearth and casing are added. Another element that is changed and improved in newly bought houses are porches and outdoor spaces for entertaining guests. Updated kitchens are also really popular among current home buyers. “Stainless steel appliances and synthetic countertops like tile, stone, or granite” are popular in kitchens according to Ellis. “White kitchens are coming back,” said Tori McKinney, a Keller Williams real estate agent who works in Falls Church. “And people still like wood cabinets.” Environmentally sustainable materials are important to a lot of buyers, as well as energy-saving appliances. Current colors that are in style are gray and white. “People have moved away from the pancake batter type of color” Molton said. Also popular now are decorative pieces that mimic the natural world, like stone

backsplashes, in attempt to bring the outside world in. There are currently more investors in the real estate market because the rental market is strong and interest rates are low. “We’re seeing people downsizing their home to move into a more urban environment,” Molton said. The most movement in home buying and selling action is caused by baby boomers and retiring people. “I’m seeing some of the baby boomers sell their single family homes to move into D.C., so that they can walk to places [rather than have to drive],” Ellis said. On the other hand, Molton said that the recent development in Falls Church, which has given the City a more urban look and feel, has been attracting retirement age home buyers. “More people at retirement age moving into Falls Church because of the development with the housing areas and proximity to Metro, restaurants and community events.” However, the bulk of the market consists of young professionals and families who are looking for more space and equity in a new home, like Capoccia and her husband. “We felt like we were just throwing out money at someone else’s mortgage instead of our own, so we decided to buy when we had a large enough savings for the down payment,” she said.

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Gourmet kitchen featuring granite countertops, white, maple cabinetry, SS appliances, and ceramic tile. Family room leads to 800+ SF recreation room, complete with HVAC, large windows, storage, and double patio doors. Newly cleared, ﬂat backyard, with new fence, landscaping and stone patio and deck. Formal living room with cozy ﬁreplace, vaulted ceilings, hardwoods and skylights, and sep dining room.

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4 spacious, light-ﬁlled bedrooms, 1 oﬃce and 4, fully updated bathrooms upstairs. Master suite features 10’ ceilings, and spa-like bathroom, with dual marble vanities, sep tub and shower, skylight, and walk-in closet. BR level laundry room with new W/D and shelving.

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FALLS CHURCH NEWS-PRESS | FCNP.COM

R EA L E STATE

FALL 2016 | PAGE RE-3

F.C. Has 2nd Most Expensive Homes Per Square Foot

BY DREW COSTLEY

FALLS CHURCH NEWS-PRESS

Falls Church is second in the region in terms of the median sales price of homes per square foot, with the median sales price of $417 per square foot, according to statistics published in August by RealEstate Business Intelligence. Arlington has the highest median sales price of homes per square foot in Northern Virginia with a median sales price of $453. But when home buyers get farther and farther away from Washington, D.C., the square foot housing prices drop dramatically. For example, in Stafford County, one of the furthest places out in Northern Virginia where people live and commute to work in or near Washington, D.C., the median sales price of homes per square foot is $159. Prince William County’s per square foot median home sale price is $189 and Loudoun County’s is $203. “I’ve seen that. People can get a lot more bang for their buck if you will,” said Louise Molton, owner of Louise Molton Real Estate. “If they move further out they are going to get a bigger house for what they would pay for a two-bedroom condo for in Falls Church.” JD Callander of JD Callander & Associates, another real estate agent who works in Northern Virginia, said that she has seen the same phenomenon working in Falls Church and McLean. Other cities and counties on the RealEstate Business Intelligence list were Alexandria City at $359,

THIS GRAPHIC SHOWS HOW MUCH house you can get in various localities in Northern Virginia for the price that you pay for a 2,600 square-foot home in Stafford County, which costs $413,400. (S��: R��E�� B�� I��) Fairfax County at $286, the City of Fairfax at $282, Manassas Park at $195 and Manassas at $175. Fairfax County, the most populous jurisdiction in the Commonwealth of Virginia, has a wide range of housing options and prices and its per square foot median sale price is likely inflated by places in the county like McLean, Great

Falls, Vienna and Tysons Corner. Even within the most expensive places to live in Northern Virginia, there is a difference in per square foot costs for houses. “North Arlington seems to be at the top of the list as far as the home buyers that we work with,” Molton said. “Now, you can probably get more expensive homes in

THIS HOUSE ON TOLLGATE WAY in Falls Church City is one of those rare �inds in the area when it comes to per square foot pricing, coming in at $262 per square foot. (P��: N��-P��)

McLean. I mean, you’ve got the huge embassy type places, but in general if we have someone looking from $700,000 to $1 million, they are not going to get that much in North Arlington for that. They’re going to get much smaller lots. “A lot of the sizes are 10,000 square feet in Falls Church and then they are looking at 5,000 square feet in Arlington, so they are smaller lots. And the market in North Arlington tends to move faster as well.” But the median price per square foot translates into a much larger difference in pricing across Northern Virginia. For example, a typical 2,600 square-foot home, which was the average according figures from the U.S. Census Bureau, that is priced at $413,400 in Stafford County would go for $491,400 in Prince William County, $527,800 in Loudoun County and $743,600 in Fairfax County. But that number jumps up to $1.08 million for a typical 2,600-square foot home in Falls Church. There are diamonds in the rough, though. The night before she spoke to the News-Press, Molton said that she just finished writing an offer for a one-bedroom condo in Arlington by Rosslyn for $150,000. “What surprises me more, sometimes, is that how little you can spend to find a place that’s close in,” she said. But she said that is not the norm. Molton said that despite the

ability of home buyers to get more space or bigger lots for their money by moving further away from Washington, location tends to be a higher priority. Several of the real estate agents who work in the Falls Church City market said that lot size is usually third or fourth in a home buyer’s list of priorities. She said that out of the clients that she’s dealt with families and people who are downsizing are the ones who care most about home size and would choose a less expensive option in terms of per square foot housing. “Usually it comes down to location, location, location. They want to be close in,” Molton said. “So even if they know they could get a bigger house if they move further out, the majority of the people we work with want to stay within a [good] school system and in a closer location near Metro.” Speaking of the Metro and proximity to Washington, D.C., the nation’s capital is the obvious priciest locale in the region in terms of per square foot median sales at $520 per square foot. Mixed in with the other, less expensive options in Northern Virginia are Montgomery County at $256 per square foot, Howard County at $215 per square foot and Anne Arundel County at $204. The Mid-Atlantic region’s per square foot median sales price is $196.

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PAGE RE-4 | FALL 2016

FALLS CHURCH NEWS-PRESS | FCNP.COM

Report Highlights Inequity Between Homeowners and Renters BY MATT DELANEY

FALLS CHURCH NEWS-PRESS

Nearly a decade after the Great Recession materialized, the housing market that spurred a worldwide economic downturn still struggles to strike an affordable balance in the U.S. ApartmentList.com’s report, “Homeowners and renters – a widening gap,” details the fallout of the recession throughout American society. Sun Belt cities witnessed decades of rapid economic and population growth reverse course with the onset of the recession. Young Americans and minorities have been forced into disoptimal housing due to a poor financial climate that lacks the cushion older generations once had. As a result, homeownership in the U.S. has dipped to its lowest level since the mid-1960s while rents ballooned by 3.7 percent nationwide. Those wealthy enough to endure the tough times without losing their home or accruing a mountain of debt are being rewarded with historically low interest rates, dropping median

monthly payments for homeowners by 13 percent since 2007. However, outside of this privileged minority, the vast majority of Americans are encumbered by rising rents in metropolitan areas and are losing out on opportunities to build their wealth. Disparities between homeowners, renters and the benefits and drawbacks that follow is the principal focus for ApartmentList. com’s director of data science & growth and author of the report, Andrew Woo. Woo emphasized that while the affluent were insulated from the recession and are now thriving in its dilapidated wake, many Americans remain stuck in the economy’s undertow and far away from achieving a significant milestone in accumulating wealth, purchasing a home. The divide is at risk of growing larger as both trends venture in opposite directions, and as Woo noted in his report, could lock out the next generation of prospective home buyers. “Think about [new home buyers] in three groups: college educated without student debt; college educated with student debt;

THE RATE OF HOME OWNERSHIP HAS FALLEN since 2007, the year before America’s housing market crashed, according to data from the Housing Vacancy Survey. In Washington, D.C., the rate of home ownership dipped nearly six percent from 2007-2016. (S��: H�� V�� S��) and those without a college education,” Woo said. “The group without a college

education is who I’m most concerned about,” Woo continued. “They lack money for a down

payment and don’t receive much [financial] help from family. Most of these Americans are going to

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R EA L E STATE

FALLS CHURCH NEWS-PRESS | FCNP.COM

find it hard to afford a home in the near future or even beyond that.” Just over 30 percent of Americans hold a bachelor’s degree, though the job market favors educated employees more than ever in 2016. That compounds the troubles for the third group of home buyers Woo identified, who lack the resources to build fiscal or human capital and, subsequently, are being left behind. The Washington D.C. metro area is no exception as it’s the third most expensive metro area to live in the U.S. and sixth most expensive in the entire world, dissuading educated and uneducated citizens alike from becoming new residents. “Affordability is an ongoing issue in the DC metro area,” principal broker for RE/MAX West End, Louise Molton wrote. “If we were to see more new construction aimed at entry-level buyers, that would certainly help increase options.” It’s a simple solution. However, the construction for new developments is slow-moving. “In certain [parts] of the DC metro area, there is still high demand for purchasing homes, outpacing supply,” real estate consultant for Keller Williams Realty, Will Rodgers wrote.

“Right the now the flexibility of renting is worth the premium for many.” For want of flexibility, Washingtonians have been hit with a 12.5 percent increase in renting costs since 2007. Still, D.C.’s sophisticated job market makes life easier for those willing to endure a high cost of living. Woo, Molton and Rodgers all noted that the federal government’s presence shielded locals from the brunt of the recession, allowing D.C. to defy national trends such as the loss of homeownership, especially among minorities. Homeownership in D.C. has actually flourished since the recession according to senior loan officer of First Home Mortgage, Ana Tolentino. Although when it comes to who is or isn’t buying those homes, the privileged minority of wealthy Americans are claiming their lion’s share. New loan guidelines demand strict payments from clients with student loan debt, while many other indebted candidates can’t qualify for a loan. Basically, opportunities to gain wealth through home-buying are shrewdly dealt to those outside of the area’s upper crust. What a tangled web we weave.

FALL 2016 | PAGE RE-5

WHILE THE COST OF OWNING A HOME HAS DECREASED, the cost of renting a home has risen dramatically since the year before the most recent recession. In the Washington, D.C. metropolitan area, which is the third most expensive metro area in the country and sixth most expensive in the world, the cost of renting a home has risen by more than 12 percent. (Source: American Community Survey)

People spend money to make money in regards to an education, but are punished by the housing market later for investing in their future. It’s hard to knock financial institutions for being sheepish –

faulty loan recipients aided the market’s crash in 2007. However, it asks the question: when will the gap between renters and homeowners shrink in the D.C. area?

“The gap will always exist,” Tolentino wrote. “Education [about loans] and preparation will be the best weapon against a gap for those looking to become homeowners.”

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PAGE RE-6 | FALL 2016

R EA L E STATE A Falls Church News-Press Advertorial

FALLS CHURCH NEWS-PRESS | FCNP.COM

Meet Falls Church’s Real Estate Experts B��’� T�� F�� P��

Bromwell’s has been your one-stop fireplace shop for over 140 years! Founded in 1873, Bromwell’s is America’s oldest fireplace fixtures dealer. Family owned and operated, we are committed to offering you a wide assortment of quality products at fair prices and providing unsurpassed service. Fireplaces and fireplace equipment are sold year-round at Bromwell’s. At our shop you will find approximately 90 gas, wood, electric, and pellet operating displays that ensure you the largest selection anywhere. Bromwell’s staff is experienced in all phases of fireplace consultation, design, and installation. Bromwell’s friendly and courteous staff will take whatever time is necessary to evaluate and discuss your fireplace needs and design options. We recognize that the fireplace is the focal point of many homes and want you and your family to be perfectly comfortable with your fireplace design decision. If you have an existing fireplace, Bromwell’s can make it beautiful and more functional with an extensive selection of gas logs, wood/gas/ electric/pellet inserts and stoves, fireplace doors, screens, tool sets, mantels, marble/slate/granite/stone surround packages, andirons, grates – everything you need for your fireplace. If you do not have an existing fireplace, Bromwell’s can design and install a new fireplace just about anywhere in your home. To get your new fireplace project underway, stop in and see Bromwell’s, The Fireplace People. Bromwell’s the Fireplace People 2821 Mary Street, Falls Church, VA 22042 703-207-9800 • bromwellsthefireplacepeople.com

J�� B��, C�� 21 N�� M�� At Browne and Associates, LLC, we aim to be the best in the business and exceed your expectations. Our team combines unsurpassable local expertise with a relentless commitment to help you achieve your goals. We specialize in the Virginia, Washington DC, and Maryland marketplaces, with a primary focus on customer service. All our clients’ benefit from the marketing engine we have built to help you accomplish your real estate objectives faster, and with more success. For the past two years, we have received the prestigious Grand Centurion Award from Century 21, ranking in the top 25 of the Nation. In addition, we were recognized in the “America’s Best” category by Real Trends and the Wall Street Journal. Please let us know how we can serve you today!

Jeremy Browne, Century 21 New Millennium, Browne & Associates, LLC 6641 Old Dominion Dr, McLean, VA 22101 703-593-4139 • BrowneandAssoc.com

Relationships for Life, and that we all Live The Good Life through Real Estate! Mike “MC” Castorina was born and raised in Arlington, and then moved to Falls Church. Having never left NOVA, he really knows neighborhoods! He is an Associate Broker, with Appraisal, Mortgage Lending and Investment Property background. Mike is expert in Negotiation, Property Valuation and the Contract, smoothly facilitating from Contract to Closing. Melissa “MK” Klein also started out in Arlington, landed in New York City condo and coop Sales before returning to her NOVA roots. She has broad marketing and diverse housing product expertise, and is really good at holding those hands! MK has earned the Seniors Real Estate Specialist/SRES (1.5 percent of agents, nationwide) Designation, to better serve Clients as they, and older family members, age, and need to transition to more accommodating housing. A staunch supporter of pets as part of the family, MK uses her animal welfare background to help clients dealing with pets in their housing moves.

Mike Castorina and Melissa Klein, Long and Foster Real Estate 6299 Leesburg Pike, Falls Church, VA 22044 703-966-4839 (Mike) • 703-201-4525 (Melissa)

M�E�� A�� Our focus has always been on doing what is right for the client. Delivering an unmatched experience for our clients is a personal responsibility for every Associate and every employee of McEnearney Associates. We believe we make a difference for our clients because of our Knowledge, Experience and our Results: Knowledge: There’s lots of information available to buyers and sellers alike these days, but information is not the same thing as knowledge. As market leaders in metropolitan Washington real estate since 1980, we have the in-depth knowledge of market trends, neighborhoods, builders, contracts, negotiating and a host of other things that are integral to the home buying and selling process. Experience: Our Sales Associates average over 17 years of experience in residential real estate. They thrive on building and nurturing relationships, and providing effective solutions for their clients. We have successfully counseled tens of thousands of home sellers over the years, and all of our Associates benefit from that accumulated wisdom. Our Managing Brokers average over 25 years of experience – they’ve seen it all. Results: All the tools, the knowledge, the experience are great, but results are what really matter. Getting a home sold for the most money and in the least time. We have tracked our results for the last twelve years, and we consistently sell our listings closer to the list price and in less time than the competition. And for our buyers, it’s about helping them find the right house and negotiating the right price, terms and conditions. Clients first. Clients always.

McEnearney Associates, Inc 4720 Lee Highway, Arlington, VA 22207 703-717-6350 • mcenearney.com.com

M�� C�� M�� K��, T�� M�K��, K�� W�� L�� F�� R�� Tori McKinney moved to Falls Church City in 1998 and It’s called, “Sales.” But, what we actually do is to help people transition through the real estate changes in their lives. What a great job! We work all of Northern Virginia with a focus on Falls Church, McLean and Arlington. We provide full service Real Estate Sales Solutions for you via our “one stop shop” L&F team in Residential, Commercial and International. Our business as usual is Top Service and Results for Clients. Our mission is Client

initially owned a concert PR firm where she worked with New Orleans bands to produce shows throughout the East Coast. In 2005, Tori reentered the real estate industry having previously enjoyed a 10-year career in the Boston area. From the concert stage, Tori brought the ROCK STAR with her, as she promises “ROCK STAR Service” to all of her clients. As a resident of the Little City for nearly two decades, Tori believes a sense of community requires active participation, and she leads by example. She actively supports: Falls Church City Schools, Business in Education, Falls Church Education Foundation, Falls Church

Chamber of Commerce, FIRSTFriday/Art-a-Lot, Tinner Hill Blues Festival, Falls Church Arts, and Taste of Falls Church. Tori is also Vice Chair of the Housing Commission, a member of Business in Education, named Pillar of the Community by the Falls Church Chamber, named one of the Top Producing Real Estate Agents by Washingtonian Magazine, Northern Virginia Magazine, and for the 5th consecutive year, has been voted Best Real Estate Agent in the Falls Church News-Press ‘Best of Falls Church’. As a tireless Falls Church advocate, Tori has helped countless families buy and sell homes over the past 12 years. Tori puts her heart and soul into the Falls Church community and gets so much in return.

Tori McKinney, ROCK STAR Realty, Keller Williams Realty 2101 Wilson Boulevard, Arlington, VA 22201 703-867-8674 • torirocksrealestate.com

RE/MAX �� I�� RE/MAX by invitation is committed to providing the highest quality real estate services to buyers and sellers in Northern Virginia, D.C. and Maryland. Our exceptional customer service sets us apart from other real estate companies. Our teambased approach ensures that every client gets detailed attention and understands each and every step of the real estate transaction. RE/MAX by invitation agents pay attention to details, and manage each home sale or purchase from start to finish and beyond! Agents receive the most current training to stay abreast of the ever-changing real estate laws and expertly advise our clients on any real estate needs. Simple, effective, honest communication is the cornerstone of every home purchase or sale at RE/MAX by invitation.

RE/MAX by invitation 4784 Lee Highway, Arlington, VA 22207 703-677-8730 • byinvitationrealty.com

K�� S��, F�� R�� Are you considering Buying or Selling Real Estate this year? If so, give Kathy Szymanski a call and benefit from her 25 years of personalized service and keen knowledge of the local market. See what some of her clients are saying: “Thank you again, and again. I just can’t say enough about what an excellent adviser you have been. It will be a real pleasure to recommend you to anyone seeking to buy, sell or rent. Working with Kathy was the smartest move we’ve made in a long time.” “Your expertise, professionalism, patience and understanding of this market fit my needs perfectly! I appreciate your response to every detail whether it was curiosity or a serious financial decision. Your integrity, honesty and character make you stand out in this market.” “Thank you for your patience. As first time home buyers, we needed our hand held. You seemed to know when to hold it and when to let go so that we made the decision on our own, but with valuable input and background gained from all the houses we looked at!” “Kathy is an exceptional Realtor. We’ve worked with her three times, buying and selling. She’s an expert. She works superbly in a time crunch, which is helpful to those – like us – moving overseas, or just returning from overseas.” “I used Kathy when I was looking for an investment condo in Arlington...Kathy provided me with more due diligence than I’d even hoped for. I love her way of presenting information and asking questions to lead me into making the right decision for me. It was a joy working with Kathy and I’ll call her again in a heartbeat.” Give Kathy a call. You, too will be glad you did. Call 703-534-4630. Kathy Szymanski, Fairfax Realty 7611 Little River Turnpike, Suite 101, W. Annandale, VA 22003 703-534-4630 • kathysellsvirginiahomes.com

R EA L E STATE

FALLS CHURCH NEWS-PRESS | FCNP.COM

FALL 2016 | PAGE RE-7

Real Estate

Top Falls Church Home Sales

June-August

#1 $1,825,000

#2 $1,760,000

#4 $1,600,000 #3 $1,690,000 Top 5 F.C. Home Sales June 1 â€“ August 31, 2016 Address #1 7137 Penguin Pl. #2 2310 Westmoreland St. #3 228 Buxton Rd. #4 3104 Beechwood Ln. #5 2153 Royal Lodge Dr.

5 6 5 8 4

4 5 4 6 4

HB 1 1 2 2 1

List Price

$1,949,000 $1,820,000 $1,690,000 $1,649,900 $1,579,000

Sale Price

$1,825,000 $1,760,000 $1,690,000 $1,600,000 $1,560,000

Zip

22043 22046 22046 22042 22043

Date Sold 8/22/16 7/29/16 7/25/16 7/5/16 7/8/16

Source: MRIS, Inc.; Photos: MRIS, Falls Church News-Press

#5 $1,560,000

R EA L E STATE

PAGE RE-8 | FALL 2016

FALLS CHURCH NEWS-PRESS | FCNP.COM

Falls Church Area Housing Market — 2nd Quarter 2016 Report Zip Code

Area

Average Price

Number of Homes Sold

Average Days on Market

22046

Falls Church City

$720,023

22041

Bailey’s Crossroads

$400,754

22042

Sleepy Hollow

$469,031

158

22043

Pimmit Hills

$733,315

22044

Lake Barcroft

$550,419

Home Sales Vs. 1 Year Ago

Home Prices Vs. 1 Year Ago

Change in # of Homes Sold: 2Q ‘16 vs 2Q ‘15

Change in Average Home Price: 2Q ‘16 vs 2Q ‘15

+5.33%

Change in Falls Church City (22046)

+1.66%

Change in Falls Church City (22046)

-18.68%

Change in Bailey’s X-roads (22041)

+6.98%

Change in Bailey’s X-roads (22041)

+26.40%

Change in Sleepy Hollow (22042)

-2.92%

Change in Sleepy Hollow (22042)

+3.33%

Change in Pimmit Hills (22043)

+9.62%

Change in Pimmit Hills (22043)

-16.28%

Change in Lake Barcroft (22044)

+4.00%

Change in Lake Barcroft (22044)