Update on Van Metre Homes in Stone Ridge

Over the weekend, a home buyer client and I spent several hours at Van Metre Homes in Stone Ridge. He wanted to take a first-hand look at their models, lots, options and price out a town home to his liking. I would like to pass along some of the information to you as well (if you’re interested)…

Van Metre has sold out of their single family home collection, but they are still building town homes. You can get a fully loaded, 2 car garage Stanton model town home in Stone Ridge for just under $400K (interior unit). The exterior unit will put you just above $400K But these prices include almost all of the bells and whistles including…

• Gourmet kitchen upgrade
• Granite counter-tops
• Upgraded appliances
• Kitchen back-splash
• Hardwood entire main level
• Upgraded 12×12 tile in foyer and bathrooms
• Extra recessed lights throughout home
• Ceiling fans in all bedrooms
• Upgraded fixtures throughout
• Fireplace on main level
• Bathroom in basement
• 2-level deck – one level off of main level and another off of master bedroom
• 3 level extension (brings the square footage to 2500)
• double bay window elevation and side bay window off family room (end unit only)
• and more…

As of yesterday, there are three interior Stanton models available for March delivery. There are also several Stanton interior and two exterior units available for April delivery. The March delivery town homes are about $12K less than the April ones for two reasons…

1. Van Metre has already started construction on the building (the closer you get to delivery, the more the discount)
2. The ones being delivered in April back to a 50 foot tree save buffer rather than other town homes

If you are interested in getting more information about the community, town home models, lots, options or incentives, email or call me – danilo.bogdanovic@gmail.com – 703.582.6900. I would also be happy to meet you at the Van Metre sales center and show you around the community.

And remember, don’t go at it alone – the sales price already includes a Buyer’s Agent commission so you might as well have representation from an experienced Buyer’s Agent who is familiar with that builder, that community and the specific sales manager working there. (And no, the builder won’t discount the price the amount of the commission if you don’t have an agent)

Happy Thanksgiving!

Wishing everyone a Happy Thanksgiving! If at least once a year, be grateful for what and who you have in your life. Remember…it could always be worse.

Tex-Mex Restaurant and Margarita Bar Coming to Brambleton

All you Tex-Mex and margarita lovers stand up and do a happy dance – the space next to Fox Cinemas in the Brambleton Town Center will soon be a Tex Mex restaurant complete with a margarita bar!

The space was originally being built out as a Mexican restaurant by the name of Cantina Cove, but that fell through after the owner, Osama El-Atari, was brought up on fraud charges and became an internationally wanted fugitive. The space sat vacant for a while, but another local, and seemingly more legit restaurateur, took over the space and is turning into a Tex-Mex restaurant and margarita bar.

My sources tell me that there is no official name for the restaurant yet, but one should be coming out soon. They also say that the restaurant may be ready for operations and having a “soft opening” sometime mid-December. Having worked in the restaurant business in a previous life and seeing the progress (yes, I was snooping through the windows), I’d say a mid-December soft opening is optimistic. But then again, where there’s a will (and money), there’s a way.

Regardless of when it opens, it will be a nice and much needed addition to the Brambleton Town Center and for all those in the Brambleton community as well as Ashburn and Loudoun County in general.

Click here to see some photos of the exterior of the space (in case you want to snoop and take a peek through the windows as well).

Cost of New Homes Goes Up at Pulte Homes’ Windermere Community

New construction town homes just got more expensive at Pulte Homes’ Windermere community in Ashburn, Virginia. Though base prices didn’t go up, a large number of options that were once standard on the Tyler and Westley II town home models will no longer be standard (click here for my video tour of the Tyler model and click here for my video tour of  the Westley II model).

What is no longer standard?

The previously standard options that are no longer included for free are,

• boxed ceiling in Master Bedroom
• window, door, baseboard, chair rail and crown molding package
• 3-piece plumbing/full bathroom rough-in in basement
• 42 inch cabinets in kitchen
• 12″ x 12″ designer ceramic tile floor in kitchen and nook
• recessed lighting
• double bowl under-mount stainless steel sink
• granite counter tops in kitchen
• Energy Star appliances in kitchen
• granite counter tops with under-mount porcelain sinks in all full bathrooms
• 6″ x 6″ ceramic tile floors in all bathrooms
• elongated water closet in master bathroom and powder room
• insulated garage door with openers and remote
• electrical outlets – front and rear
• double hung insulated vinyl “Low E” windows with grid inserts and screens

What does this mean to you?

The majority of the previously standard options are pretty “standard” in today’s day and age to begin with so you’ll probably want them anyway. The estimated cost of the options listed above is upwards of $15K, which means you’ll be spending at least $15K more than you would have previously.

Don’t be bummed

Though I can’t say for sure, I have a feeling that Pulte may be raising base prices after the next release of lots. With inventory down, demand still strong and the tax credit being extended and expanded, builders have been raising base prices and/or cutting the list of standard options. If the market continues this way, they will continue to do the same thing in the future.

But…even though the overall cost went up, I know of incentives and ways to negotiate money off the total price that will make it much less of an increase in overall cost than what’s on paper.  See…told you not to be bummed

If you would like more information about this or any other new home builder in the area and to save money when buying new construction, click here to contact me – I would be happy to help.

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Well-Known Loudoun Man Now Internationally Wanted Fugitive

Osama El-Atari was once a well known and flamboyant Loudoun resident, restaurateur and car nut. But now, thanks to fraud charges brought against him by law enforcement and speculation that he’s fled the country, he’s a wanted figutuve here in the U.S. as well as internationally via Interpol.

Many are wondering where he may be and whether they will ever recoup the money they lent or gave him in hopes of returns on what they thought were investments. Perhaps one day, just like his cousin Dianne Atari, he will be extradited to the U.S. and we’ll be able to ask him where all that money went.

Click here for the full Interpol wanted notice on Osama El-Atari.

Related Articles

Flashy Va. Businessman Vanishes, Leaving Huge Debts Behind – Washington Post

Turkey in Leesburg Upset at Humans for Having Relatives for Dinner

A turkey has been running around in Leesburg chasing cars and people. Seems the turkey is upset that many of us humans are having some of his relatives for dinner next week. (If you can’t see the video below, click here)

Loudoun/Northern Virginia Housing Market Conditions per Price Range

The question I get asked most often is, “How’s the Loudoun/Northern Virginia housing market?” Today’s housing market conditions do not allow for one, general correct answer. For the purpose of giving you a good, general idea of the Northern Virginia* housing market conditions, I’m going to break it down by price range – you choose the price range you fit into.

*I am referring to all of Northern Virginia, which includes Loudoun, Prince William and Fairfax counties (including Arlington, Falls Church, Alexandria, etc)

Note: If you would like to know what the specific housing market conditions are within your community or the area you are interested in buying within, click here to contact me so I can provide you with the specific details and statistics.

Less than $150K

• This is probably the most competitive price range to be in. The majority of properties in this price range can be found in Prince William County
• Most of the properties you’ll find in this price point are foreclosure/bank-owned and short-sale properties. But this price range is also very popular with investors so you’ll see investor flips/rehab properties on the market
• A buyer I’m currently working with had to go through countless properties and compete against over 50 offers before finally getting their offer accepted on one. One reason is because a significant amount of the offers being placed on properties at this price point are all-cash offers with no contingencies whatsoever. Trying to compete against cash offers with FHA, VA and even conventional financing offers is extremely tough – though it definitely can be done
• Properties in this price point that are priced at or below market value typically receive multiple offers within a matter of days so buyers have to jump on them as soon as they hit the market
• I have seen properties in this price range in some areas sell for 10 to 20+ percent more than they did at the beginning of 2009
• If you’re a buyer, expect to see 5, 10, 15+ offers on well-priced properties. But don’t be scared or intimidated by that – just make sure you have some extra patience and are ready to jump on a property you like as soon as it hits the market. And if you don’t get it, don’t be too down – it happens a lot at this price point. You have to just keep plugging along
• If you’re a seller in this price point, you’re sitting pretty and can expect an offer quickly if you’re priced correctly

$150K to $350K

• This is also a very competitive price range to be in. Properties in this price range are a mixture of foreclosure/bank-owned properties, short-sales and traditional resales
• The type of properties in this price range depends on how close or far you get away from Washington, DC. The closer you are to DC, the smaller and/or older of a property you typically get
• Cash offers are also becoming more common in this price range though not as much as in the sub$150K price point
• I have seen properties in this price range in some areas sell for 10+ percent more than they did at the beginning of 2009
• As a buyer, expect to compete against many other offers especially on properties priced at or below market value
• As a seller, you’re still sitting pretty as long as you price your property correctly

$350K to $500K

• This price range is also competitive especially within the Beltway. Properties in this price range are also a mixture of foreclosure/bank-owned properties, short-sales and traditional resales
• Though there are fewer instances of cash offers in this price range, they’re still out there. Though you may not be competing against 10+ offers as is common in the lower price points, I’m still seeing a handful of offers on well priced properties
• I have noticed values in this price range remain steady with some areas showing a slight increase in values
• As a buyer, expect to compete against other buyers on well-priced properties. You should be aggressive and jump on a property that interests you as soon as it hits the market
• As a seller, you’re still in a price range that has a decent amount of buyers in it. But don’t get greedy because of that fact – you still have to market and price your property correctly

$500K to $700K

• This price point puts the majority of buyers into the ‘”jumbo” loan/financing category (financing over $417K), which makes for a smaller number of buyers. The reason why is because it’s harder and more expensive to secure “jumbo” financing these days. Fewer buyers means less competition though there are still so few properties on the market that it’s still competitive
• Nevertheless, buyers are out there. A recent listing of mine in Broadlands has many buyers come through as soon as it hit the market and it the sellers received and accepted an offer within 10 days of being on the market
• Most of the properties in this price range are short-sales and traditional resales though you may see a foreclosure/bank-owned property here and there
• Though cash offers are rare at this price point, they’re still out there. I had a buyer who put 20 percent down, use conventional financing and offer the highest amount of all the offers lose to a lower priced, all cash, non-contingent offer
• I have seen values in this price range remain relatively steady since 1/1/09
• If you’re a buyer, you still have to be aggressive on finding and buying a property in this price range. But it’s definitely not as crazy as the sub-$350K range
• If you’re a seller, make sure you’re aware of your competition/other homes on the market so that you price your property correctly and adjust to comps and new properties as they come on the market. The higher the price range, the more important it is to have an experienced and knowledgeable Listing Agent working for you

$700K to $900K

• This is where the pendulum starts to swing the other way a bit (generally speaking). Properties in this price range tend to stay on the market longer and have fewer buyers competing for them. Nevertheless, if the property is priced at or below market value, buyers will come out from everywhere
• For example, there was a foreclosure/bank-owned “McMansion” in Fairfax listed just last month that was priced at $722K. This was an incredibly attractive price because the property was worth well over $800K. A buyer I’m working with offered $800K using conventional financing with a down payment of 30 percent. Their offer was not chosen because the winning offer was…take a guess…all cash, non-contingent. (Yes, someone paid $800K+ cash for a house)
• The example I just gave is not isolated to Fairfax – it’s happening in Loudoun and across Northern Virginia
• I have seen values in this price point remain steady or go down since 1/1/09 depending on location and how hard the particular community has been hit with foreclosures and short-sales
• As a buyer, this price point can be good and bad. It’s good because the market is not as crazy as the lower price points. But it’s bad because there is so little inventory on the market to choose from. You may have to wait weeks or even a few months before a property that fits your criteria. Some of my buyers have made adjustments to their criteria so they can have more properties to choose from
• As a seller, price and marketing are key in this price range. Make sure your Listing Agent is knowledgeable and is on top of your local market

$900K+

• This is the least competitive price range especially in Loudoun County. Properties in this price range in Loudoun have been known to be on the market for months and months. As you get closer to DC, the average days on market is less, but still much higher than lower price points
• Some of the properties in this price range are foreclosure/bank-owned properties, but most are short-sales and traditional resales
• This price range is still showing signs of weakness and depreciation especially the farther you get from DC
• If you’re a buyer, you’re in a good position in this price range. There are few buyers that are in the market for a $900K property and a fairly decent amount of inventory for you to choose from, including new construction
• If you’re a seller, you’ve got an uphill battle especially in Loudoun County. Be patient and realistic when selling your home. Even more so than in any other price range, make sure you have a knowledgeable and aggressive Listing Agent who will market your property correctly and will price it where it should be to get an offer

Please remember that these are general market conditions. To find out what the housing market conditions are within your community or the area you are interested in buying within, click here to contact me so I can provide you with the specific details and statistics.

Thank You to all Veterans

Thank you to my grandfather and all veterans past and present, here and abroad. You gave the greatest sacrifice of all – your life – so all of us could be here today enjoying our freedom and way of life.

And let us never forget the cost of war – human life – and the amount of blood that has been and is still being shed every day.

Are You Excited or Upset About the Extended Home Buyer Tax Credit?

Some consumers are excited about the extended and expanded home buyer (and now, existing home owner) federal tax credit. But others feel quite the opposite.

Why are some consumers upset? Check it out… “Why the Extended Home Buyer Tax Credit is a Slap in the Face”

How do you feel about it?

First Time Home Buyer Federal Tax Credit Extended…and Expanded

The government has extended the first-time home buyer federal tax credit as well as expanded to include many existing home owners. First-time home buyers now have until April 30, 2010 to sign a contract and qualify for a tax credit up to $8,000. And starting November 7, many existing home owners may qualify for a tax credit of up to $6,500.

For more information, check out this flyer provided by the Virginia Association of REALTORS(R):

Information on extended and expanded first time home buyer federal tax credit –

You can also get more information on the extended first-time home buyer tax credit by clicking here.

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