Loudoun County Community Overview - Ashburn Village

Ashburn Village is a subdivision located within Ashburn, Virginia in the eastern part of Loudoun County. Ashburn Village opened for development in 1987 and is nearly complete. It’s situated on over 1,500 acres (6 km²), with over 5,000 residential units and 15,000 residents.

Ashburn Village has four recreation centers and three swimming pools, two outdoor and one indoor. It’s largest recreation center is the Ashburn Village Sports Pavilion, located in the center of the community. The Pavilion contains a full size gymnasium, weight rooms, and enclosed tennis courts. There are also fitness classes and events held at there, which is one of the largest community-based recreation centers in Virginia. Access to the Sports Pavilion is available to those living in Ashburn Village. There is no additional fee to use the Sports Pavilion though it’s included in the Ashburn Village HOA fees, which are about $20 more per month than surrounding areas such as Ashburn Farm.

Ashburn Village contains a large shopping center with restaurants, an anchor grocery store and numerous other retail outlets. It’s also located close to two shopping malls, Dulles Town Center and the Leesburg Corner Premium Outlets.

Elementary school children (kindergarten through 5th grade) are split between two schools: students residing in the northern part of Ashburn Village attend Ashburn Elementary School, and students living in the southern part attend Dominion Trail Elementary School.

Middle School students (6th through 8th grade) attend Farmwell Station Middle School. Students in 9th through 12th grade attend Broad Run High School, located directly south of the community.

***Please check with Loudoun County Public Schools as the information above is deemed correct, but not guaranteed.

Further Reading:

Ashburn Village Home Owners’ Association

The Outcome Of Last Week’s Foreclosure/REO Knowledge Poll

We conducted a poll last week to test your knowledge of Loudoun County foreclosures, REOs and short-sales. The poll asked the question "What percentage of properties for sale in Loudoun County are foreclosures/REOs or short-sales?" 

Well, here are the results:

• 22 percent said 1 to 10 percent
• 44 percent said 11 to 20 percent
• 17 percent said 21 to 30 percent
• 11 percent said 31 to 40 percent
• 6 percent said over 40 percent

The answer? 28 percent.

Congratulations to the 17 percent that got it correct! To the others, no worries…there’s a way to always get the answer to that question correct.

How?

By checking out Loudoun Foreclosures, which is dedicated to Loudoun County foreclosures, REOs, short-sales and other great real estate deals including spec homes and new construction. Feel free to subscribe to the Loudoun Foreclosures RSS feed or add it to your home page so you can get new posts sent to you directly.

Thanks to all that voted!

Ridgewater Park Scrapped After Disagreement With Loudoun County

According to the Loudoun Times-Mirror, Leonard S. "Hobie" Mitchel withdrew his application for the Ridgewater Park development south of Leesburg.  The move by Hobie Mitchell comes after a December 11 vote by the Loudoun County Board of Supervisors to try once more to work out their differences over the proposal to build the large suburban-style development.

The development would have added approximately 1,000 homes and 500,000 square feet of office space on 338 acres near Leesburg Executive Airport. The controversial development, which changed in size, location and scope during its lengthy approval, drew opposition from slow-growth advocates, environmentalists and others.

County staff analysts objected to the proposal in part because of its dense, suburban layout which conflicts with a county plan to preserve that area as a semi-rural buffer between Loudoun’s suburban east and rural west.

Ridgewater Park is one of four controversial developments that were on the board’s agenda between the November 6 election and the end of its term December 31. Supervisors have now rejected two of those projects (including Ridgewater Park) and approved another.

Public Hearing On Northern Virginia Transportation Authority’s Future Projects

The Northern Virginia Transportation Authority (NVTA) will hold a public hearing on Thursday, January 10, 2008 to get the public’s feedback on their proposed plan and projects for fiscal years 2008 to 2010. Here’s the official notice with more information:

"Notice of Public Hearing - January 10, 2008 - Northern Virginia Transportation Authority

The Northern Virginia Transportation Authority (NVTA) will hold a public hearing on Thursday, January 10, 2008, at 6 p.m., at George Mason High School Auditorium, 7124 Leesburg Pike, Falls Church, VA, to solicit feedback from the public on NVTA’s proposed initial Six Year Plan for Fiscal Years (FY) 2008 to FY 2010. The projects included in the Program are funded using 60 percent of revenue collected and retained by NVTA. These projects are a mix of highway, transit, bicycle, pedestrian and multimodal projects. They also include funding for the Washington Metropolitan Area Transit Authority (WMATA) and the Virginia Railway Express (VRE). Specific information regarding the projects is posted on NVTA’s website: www.TheNoVaAuthority.org.

The Authority will begin hearing comments at 6 p.m., or shortly thereafter. Individuals may speak a maximum of 3 minutes and organizations a maximum of 5 minutes. The deadline for submission of speaker slips is 7 p.m. Written comments submitted up to 5 p.m. on December 31, 2007, will be distributed to NVTA members in advance of the hearing. Materials received after that date, up to 3 p.m. on January 9, 2008, will be distributed to members after the meeting. Comments may be submitted by U.S. mail c/o Christopher Zimmerman, Chairman, Northern Virginia Transportation Authority, 2100 Clarendon Blvd., Suite 300, Arlington, VA 22201, or by email to TheAuthority@TheNoVaAuthority.org. For more information, visit the NVTA website at www.TheNoVaAuthority.org.

For ADA accomodations only, email Isequeira@arlingtonva.us or call 703-228-3130 or call the Virginia Relay Center 1-866-246-9300 (TTY) or 711, by 5 p.m. on Friday, January 4, 2008."

On a side note, NVTA to appoint John Mason as Authority’s first  Executive Director. Authority members will vote formally to approve Mr. Mason’s contract during their regular meeting on January 10, 2008.

With Loudoun County Projecting 2009 Budget Shortfall, Will Tax Rate Increase?

Loudoun County officials are projecting a 2009 budget shortfall of $251M (full story here).  The current budget was approved by supervisors last April, at which time they were counting on over 70 percent of tax revenue coming from real estate. With real estate property values and overall activity having decreased, the smaller amount of collected taxes and ensuing budget shortfall should come as no surprise.

So what will Loudoun County do? In a "conversation" with supervisors, County Budget Manager Ari Skysaid that a tax rate of around $1.24 per $100 of assessed value would be needed to eliminate such a shortfall (the current tax rate is 96 cents). Whether it was just "light conversation" or more of a strong suggestion on how to fix the budget short-fall, who knows. But I’m sure we’ll all find out soon.

Loudoun County Community Overview - Ashburn Farm

Ashburn Farm in Ashburn, Virginia is a master planned community situated on 1370 acres in the west central part of Ashburn in Loudoun County, Virginia. It’s well known for it’s abundance of trees, greenery, trails and amenities. The majority of "The Farm" is located on what was originally the Gray Dairy Farm. Cavalier Land Development Corp., developers of Ashburn Farm, planned the community to blend with the natural rolling terrain, resulting in winding boulevards and lots of trees. Ashburn Farm is north of the Dulles Greenway and bordered by Belmont Ridge Rd to the west, Ashburn Rd to the east, and the W&OD Trail to the north. Construction started after the concept plan was approved by Loudoun County in 1986.

Ashburn Farm has 1,807 single-family homes, 1,499 townhouses, 460 condominiums, 162 apartments and over 10,000 residents. The first home in Ashburn Farm was purchased in 1988. Architecture is typically traditional colonial with brick and/or siding as the general choice of facade. The Farm has everything from condominiums (Westmaren Community) to Tudor style single family homes unique to the entire area (many call them “the castle homes”) so most everyone is able to find something that fits their specific criteria and taste.

The Farm is equipped with a 10,000 sq ft community center, 3 swimming pools, 12 tennis courts (6 of them lighted), 8 multi-purpose courts, 2 soccer fields, 2 baseball diamonds at Greg Crittenden Memorial Park and several more at Trailside Park, a sand volleyball pit, 13 tot lots, 5 ponds, an in-line skating hockey deck, and over 10 miles of bike and exercise trails.

Ashburn Farm is also home to the Ashburn Library and has an interchange of the Dulles Greenway at Claiborne Pkwy. The Farm also contains 2 shopping centers: Ashburn Farm Village Center (30K sq feet) and Ashburn Farm Town Center (104K sq ft).

Ashburn Farm Village Center businesses: Shoppers Food Warehouse, Exxon Tiger Mart,  Goodyear Tire & Auto, Dry Cleaners, Hair Cuttery, Carlos Hair Designers, Pizza Hut, Kwon’s Karate Studio, VA Nails, Hong Kong Restaurant, Dental & Orthodontics Practices, Carpet & Blind Center, Wachovia Bank, and Long & Foster Realtors, Provident Bank, Taiwan Thai Cuisine, Buffalo Wing Factory, Toyama Sushi, Pedal Ice Cream, Dry Cleaners.

Ashburn Farm Town Center businesses: BB&T  Banking, McDonald’s, Exxon Tiger Mart, Giant, Starbucks, Video Warehouse, Domino’s Pizza, Super Cut’s, Subway, United Framing, Dry Cleaners, Nagoya Steak & Seafood, Kwons Karate, Good Fortune Chinese, Trevisos, Parcel Plus, Ashburn Animal Hospital, Orlando Hair Studio,   Ace Vacuums, EastCo Wireless,  Little Gym, Suntan Shop, Pottery You Paint, Loudoun Chiropractics, Nail Spa, CC Sells Team/Keller Williams Realty, Hershey’s Ice Cream,  Dentist, and Optometrist. There is also Merchants Automotive.

Professional Office Park businesses (3 buildings):   

20905 Professional Plaza contains: Ashburn Family and Cosmetic Dentistry, Avery Hess Realtors, Broadlands Family Practice, Family Foot and Ankle Centers, INOVA Physical Therapy Center, Loudoun Imaging Center, Project Support Services, Inc., Sterling Behavioral Health Services, LTD, and Wright Medical Technology, Inc.

20925 Professional Plaza contains:  Genetics & IVF Institute, Grace Community Church, Internal Medicine, Dina Darwish - MD, Next Health, Perfectly Female Women’s Health Care, Positively Chiropractic, Potomac Psychological Center, T. Wesley Daczkowski - DDS, Whole Child Pediatrics, and Zoltan Rusznak - DDS - PC.

20955 Professional Plaza contains: Ashburn Dental Associates, Ashburn Family Practice, Ashburn Pediatrics, Cavalier Land Development Corp., CC Sells/Keller Williams Realty, Edward D. Jones - Inc., Highland Title and Escrow, The Law Offices of Paul R. Dean, Jr., - PLC, Middleburg Bank, and Women’s Care Group - OBGYN.

In addition, the community has Sanders Corner Elementary School, Stone Bridge High School, 3 Day Care Centers and 2 Churches.

Ashburn Farm is located approximately 20 minutes from Reston, 30 minutes from Tyson’s Corner/Mclean/Vienna, 45 to 60 minutes from Washington, DC and 10 to 15 minutes from Leesburg (though times may vary during “rush hour”).

Further Reading:

Ashburn Farm Home Owner’s Association

Loudoun County Public Schools

Loudoun County Center Of Foreclosure/REO Media Attention

Loudoun County seems to be at the center of media attention when it comes to foreclosures. From local newspapers to Reuters, The Wall Street Journal and others, everyone seems to be writing and talking about Loudoun County and foreclosures. But why are they so focused on Loudoun County?

It’s because Loudoun County is seeing such a huge spike in foreclosure listings despite having the second-highest median household income of any jurisdiction in the US (Fairax County is #1).  It’s also because Loudoun saw some of the greatest increases in home prices during the boom and one of the greatest decreases since then.

Reporters are always asking how such a wealthy county could be faced with so many foreclosures and in such a short amount of time. There may not be one single reason, but much of it has to do with poor financial decisions and the overall affordability (or lack thereof) of housing during the boom earlier this decade. The only way to get into a property a few years back was to do "creative financing".

But should home owners have just buckled down and settled on a smaller, less grand and less expensive property? Perhaps. But everyone seemed to think that the prices would never stop going up and they would be able to sell their house for $1000’s more than what they bought it for before their ARM or "introductory rate" reset.

We all know that’s not what happened.

Loudoun County will probably remain the center of attention through 2008 because foreclosures are expected to continue increasing into next year. This may hurt Loudoun County because most media likes to report the negative things and sometime even exaggerate how negative things really are. Headlines such as "the sky is falling!" sell better than "here are the numbers - it’s bad, but we’ll most likely see a bottom next year".

Related Links:

Loudoun Foreclosures - Loudoun County foreclosure, REO and short-sale statistics, data and resources as well as investment opportunities.

Update On Arcola Center And Dulles South Area

The Loudoun Times-Mirror yesterday reported on the latest regarding Arcola Center including this map of the proposed development:

   

Arcola Center was rezoned to include to 1,169 residential units and 2.6M square feet of commerical and industrial uses on 312 acres. But some say that that only about a third to half of the commercial space will actually be built. Supervisor Steve Snow (R-Dulles) said that the design fits in with the vision of the Route 50 Task Force and that it will have a "Georgetown or Alexandria feel" to it.

Related Articles:

Arcola Center And Glascock Field Rezonings Approved By Loudoun County Board Of Supervisors

Loudoun County Home Sales Off Significantly; Ashburn, Leesburg Hit Hardest

Through the first 12 days of the month of December, the number of homes that have gone under contract in Ashburn and Leesburg has dropped tremendously compared to the same period last year. 

In Ashburn there have been only 16 properties in the 20147 and 20148 zip codes that have secured a contract in December.  That equates to only 1.3 sales per day and projects to only 41 sales for the entire month. 

The numbers for Leesburg are not much better.  There have been only  17 sales in the 20175 and 20176 zip codes in the month of December, or 1.4 per day and a forecast of only 44 for the month.  But considering there are 240 more homes for sale in Leesburg versus Ashburn (713-473), it could be argued that the Leesburg market is softer than Ashburn.

The sales activity in Sterling has fared much better and is on track to equal the monthly total of December 2006.  As of the 12th there were 39 sales in the 20164, 20165 and 20166 zip codes which was exactly the same as the first 12 days of last December. 

For all of Loudoun County there have been only 99 homes go under contract so far this month as compared to 147 during the same time period last year.  This equates to a drop of 33% in homes sold and is significantly worse than the second half drop in homes sold (19%). 

Thursday Poll: Testing Your Knowledge About Loudoun County Foreclosures, REO and Short-Sales

With so much talk about foreclosures, REO and short-sales in Loudoun County and the US in general, let’s test everyone’s knowledge (or at least guesswork). Here’s this week’s Thursday Poll:

We’ll share the answer to this question with you in next week’s Thursday Poll so make sure to check back then or subscribe to our RSS feed to get it sent to you directly.

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