Does that sound like a lot to you? Were you thinking only 10 people bought and sold real estate in Alexandria VA? Maybe 100, what about 1,000? After all of the media doom and gloom about record high foreclosures, unemployment, recession, and even depression, it may be hard for you to believe, but in 2008, approximately 4,130 people bought a home for sale in Alexandria VA!!!

From Alexandria City (including Old Town, Del Ray, Rosemont, Landmark, Cameron Station, Stonegate and Seminary Walk), to Alexandria of Fairfax County (including Kingstowne, Manchester Lakes, Rose Hill, Stratford Landing, Belle Haven, Belle View, Hybla Valley, and Landsdowne), over 4,000 buyers studied, searched the MLS, got approved for mortgages, viewed condos, townhomes, duplexes, single-family, luxury, and new construction homes for sale, worked with a buyers agent, submitted offers, negotiated, inspected, and CLOSED ON A NEW HOME!

You won’t hear that on CNN or MSNBC, why? Because real estate is and always will be LOCAL!!!

In the sellers market, you were probably afraid NOT to buy because the prices were going up. You probably thought the prices were going to go up forever so you couldn’t wait. You wanted to compete, waive contingencies, buy a home without even looking at it, and pay more than the asking price.

Now, you can be picky.  You can see more homes, and you can probably see them more than once before making a decision to buy. You can negotiate, you can offer less than the asking price, you can ask for closing cost assistance, you can ask for repairs, you can get a KICK ASS interest rate, and you can PAY LESS if it APPRAISES for less.

You have all of the ingredients to buy the cheapest house in the most desireable zip code, school district, or neighborhood of your choice.  Try waiting for the bottom, and all you’ll get may be leftovers.

Old Town Alexandria Real Estate and Homes For Sale
540 West Street in Alexandria VA 22314
Colecroft Townhome | Walk To Braddock Road Metro
$549,900

• Four levels
• Three bedrooms
• Two full baths
• Fenced in back yard
• Updated kitchen with stainless steel appliances
• Maple cabinets
• Granite countertops
• Gleaming hardwood floors
• New bathroom fixtures and vanities
• Five short blocks to King Street

Are you ready to take advantage of the buyers market in Alexandria VA and buy a home for sale in Old Town or Del Ray, or are you going to gamble, roll the dice and ‘let it ride’?  I love going to Las Vegas, but by no means am I a gambler.  I usually see at least two to three shows every time I go. Why? Because I like to see the performers do their thing, and I’d rather spend time enjoying the show and laughing with family and friends, than letting the one-armed bandits eat up my hard earned money.

Nobody knows the exact date and time the national real estate market will fully rebound. Nobody knows the exact date and time when the house you buy in Old Town or Del Ray today will be worth twice as much as you paid.  Nobody knows the exact date and time when Old Town Alexandria and Del Ray foreclosures will go back to being few and far between.

What we do know, is that waiting to buy real estate in Alexandria VA and gambling on both sales prices and interest rates is risky, and can end up costing you more money.  Starting January 1, 2009, the required minimum down payment for all homes financed with an FHA loan will increase from 3.0% to 3.5%.  Couple an increased down payment with an increase in interest rates and you will be sucker punched into spending more for housing by not taking advantage of the window of opportunity that is already starting to close.

In the past sellers market, the demand for homes for sale in Alexandria VA was so great that the objective for many buyers was to find a suitable home.  Today, buyers should concentrate on finding the cheapest home in the best neighborhood.  Buyers right now have a royal flush when it comes to buying real estate in Old Town and Del Ray:

• Ace - Lower interest rates (the lowest we’ve seen in over thirty years)
• King - Decreased competition among other buyers
• Queen - Sellers (and banks) have adjusted prices downward
• Jack - Power to negotiate favorable terms and not waive contingencies
• 10- Seller and lender contributions available in the form of closing costs paid, and down payment assistance such as VHDA and Alexandria City Housing programs

Click here to view our customized spreadsheet that shows how much waiting to buy a home can cost you.

Belle Haven Real Estate Home For Sale | Open House This Sunday
6038 Fort Hunt Road Alexandria VA
Beautiful Potomac River Views

Beautiful Cape Cod With Porch In Belle Haven in Alexandria VA

• 1930’s classic
• Hardwood floors
• Rooftop Deck with Potomac River Views
• Stone Patio
• Updated Kitchen with Granite Countertops
• Lush landscapting with koi pond in rear
• Three bedrooms, two full baths, one half bath
• Only 8 miles to Washington DC
• Close to Old Town Alexandria VA, GW Parkway, walking and biking trails, Huntington Metro

For more information about Alexandria VA real estate and Belle Haven homes for sale, or to speak with a top Alexandria VA real estate agent, please contact Tamara Inzunza of McEnearney Associates, Inc. or browse the Alexandria VA MLS to see all homes for sale.

Del Ray | Rosemont Alexandria VA Homes For Sale
100 W. Braddock Road

This exceptional renovation and expansion of a classic bungalow sits comfortably on an oversized, beautifully landscaped yard within walking distance to the Braddock Road and King Street metro stations.

Special features gracing the interior include:

• Crown molding on main level with recessed lighting in the living room and family room
• Oak hardwood floor on the main level, warm pine wood flooring in the master bedroom
• Cherry parquet flooring in the kitchen with coordinated cabinetry and wood trim
• Gas cooking, under cabinet lighting, ceramic tile countertops and backsplash, picture window at table space
• 200 year old antique swinging door from kitchen to dining room with etched panel
• Early 19th century staned glass window, and brass 12-light chandelier in dining room
• Gas fireplace in living room (parlor)
• Tiled main level full bath with linen storage
• Well proportioned master suite on upper level with sitting area, skylights, double walk-in closets, ceramic tiled full bath, double-sink vanity, and sulated attic storage.

Features detailing the exterior include:

• Exterior lighting in rear
• Wrap deck/porch accented by wysteria covered pergola
• Sunken pool with warming feature
• Landscape elements include: Japanese red maple, hostas, Dragonlady holly, Fosterholly, artemesia, Chesapeak holly, dogwood, Yoshimo cherry, silver maple, day lillies, and much more

For more information about Alexandria VA real estate or to speak with a top Alexandria VA real estate agent, please contact Tamara Inzunza of McEnearney Associates, Inc. or browse the Alexandria VA MLS to see all homes for sale.

When looking at detached homes for sale in Del Ray Alexandria VA, one way to keep your home prices lower is to consder a bungalow styled home.

Many bungalows in Del Ray have been expanded to include more functional living space such as a family room, an extended kitchen, additional bedrooms, and a rear porch.

What distinguishes a bungalow from other detached homes is that no matter how you look at a bungalow, they all have classic character.

Unlike the colonials, Del Ray bungalow styled homes usually bear the following characteristics:

• Front steps to a front porch or covered entry
• Bedrooms on the main level (a base framed bungalow was likely a two-bedroom home)
• V-pitched roof with an attic, or converted bedroom, with a steep stairway from the main level

Because bungalows are smaller in comparison to traditonal colonial homes, they are usually offered for sale at lower prices.  Bungalows for sale in Del Ray can range from the high $400’s, indicating a possible need for renovation, to the $800’s depending on upgrades, additions, and lot size and features.

Many Del Ray homebuyers specifically seek out bungalow styled homes because of their more economical size and square footage.  You may not want all of the space that usually comes with a traditional colonial, but still prefer to be fully detached and on a level yard.

Photo Tour: See More Pictures Of Del Ray Bungalows

MLS Search: See All Del Ray and Alexandria VA Bungalow Homes For Sale

Property Value: Find Out How Much Your Del Ray Bungalow Is Worth

As the 2008 calendar year comes to a close, I’m sure you’ve seen many commercials on TV, heard announcements on the radio, received coupons for special shopping times in the mail, and even your favorite stores have probably emailed you about exclusive deals ‘for a limited time only’.

The same holds true with real estate and homes for sale in Old Town and Del Ray in Alexandria VA.  December has always been a good time to buy a home because you can still take advantage of earning a few extra tax deductions through a home purchase. 

Last week, the government and mortgage industry made news by announcing lower interest rates.  But, while the low interest rates are ‘for a limited time only’, the higher amount that you can borrow for a mortgage loan is also ‘for a limited time only’. 

Starting January 1, 2009, the FHA loan limits will decrease from $729,750 to $625,500 for home purchases in Old Town Alexandria VA.  Although the U.S. Housing and Urban Development office made this announcement last month, coupled with insatiably low interest rates, homebuyers who are on the fence have a unique opportunity to pick from a larger inventory of homes, negotiate favorable terms, and borrow money at a long-term fixed rate for less than 6%.

Here’s my pick for this week’s HOT LIST of homes for sale in Del Ray and Old Town Alexandria VA that you may be able to buy before the end of 2008.

In my opinion, now is still the time to buy the cheapest house in the best neighborhood. Condos, townhomes, and single-family detached homes in the Old Town Alexandria VA zip code of 22314, and Del Ray homes in zip codes 22301 and 22305 are highly sought after because of location, proximity to metro, walkscore. 

First time buyers in the market for Old Town Alexandria real estate can choose from a variety of condos for sale. Move up buyers who want resort-style living and amenities can also take advantage of the Old Town Alexandria condo market.  Those wanting to stay close-in will undoubtedly have the 22314 zip code on their radar.

Commuter conveniences such as the Braddock Road and King Street metro stations, nearby Reagan National Airport, and the free King Street Trolley make it easier for car-less buyers to get around and enjoy an active lifestyle.

In the month of October, 29 condos in Old Town Alexandria were listed for sale, and 17 were sold.  In September, 17 condo units were listed for sale and 20 units were sold.  Those listed ranged in price from $190,000 to $2,795,000.  The lowest priced condo home is in the Harbor Terrace community, and the highest priced condo for sale is in the Liberty Row community.

Here’s a look at the overall Old Town Alexandria real estate market from September 2008 to October 2008 to include all property types:

Old Town home sellers are negotiating which is clearly a good sign for buyers.  Right now, condo homes are making up a big portion of the overall home sales in Old Town.

Free Resources: Find Out What Your Old Town Alexandria Home Is Worth

Free MLS Search: Browse The MLS and Search For Old Town Alexandria Condos and Homes For Sale

While many people looking to buy a home for sale in Old Town Alexandria VA or Del Ray start out looking at homes, smart buyers know that once they know their tastes and budget, the next step is to meet with their Realtor for an initial consultation.

The initial consultation serves many purposes both for the Realtor, and the consumer.  For the Realtor:

• It provides me an opportunity to listen to your long term and short term goals
• It gives me a chance to review the homebuying process to you from start to finish
• It allows me to explain the different types of agency representation
• It helps me to determine what types of homes can best accommodate your needs
• It gives me the opportunity to provide you with different monthly payment estimates of homes that you select from the MLS, based on your approved mortgage

For the consumer:

• It gives you the opportunity to ask questions about the homebuying process
• It allows you to interview your agent to see if you will work well together
• It helps you to see what homes are available in your price range by browsing the MLS and seeing how your Realtor searches the MLS for you
• It gives you a chance to take a tour of homes to see what neighborhoods may be of interest

Buying a home is a big step.  And remember, getting pre-approved for your mortgage does not obligate you to buy, and meeting with a Realtor for an initial consulation does not obligate you to buy.  But these are two very important steps in your information gathering process.  Once you have determined how much you can afford, and have an idea of where you’d like to live, it’s then time to meet with your Realtor to see what Old Town Alexandria VA and Del Ray homes for sale are available.

Free Report: What You Should Know, Your Buyer Bill of Rights

Free Report: HUD’s Homebuying Guide

Free MLS Search: Browse the MLS and Sign Up for New Listings

I recently went back down to ‘The Burg’ to speak to graduating seniors about what to expect in the real world once they leave JMU.  Students had a chance to ask questions and learn about the most common challenges that new college graduates face including:

• Resume tips and how to turn negatives into positives
• How to prepare for the interview
• Maintaining professionalism during office hours, and after close of business
• Preparing for housing costs
• Learning how to budget and live within your means
• Understanding your credit report

Students are stepping out when our economy is facing tough times.  They’ll be facing a world of job offers while others are being laid off.  Many of them will graduate with thousands of dollars of debt including student loans, and credit cards.  As alumni with real world experience, we were able to share our lessons learned in hopes that the soon-to-be-grads are able to successfully build upon their strong educational foundation.

The Washington DC MetroDukes will be sponsoring our annual Job Fair, held Friday January 9, 2009 at the Tysons Corner Mariott from 10:00 a.m. to 2:00 p.m.  Employers can register online, and job seekers can email their resumes directly to MetroDukes@gmail.com.  This event is open to the public.  Washington DC area JMU alumni who are currently looking to hire fellow JMU alums may also post their job openings on the JMU Alumni Professional Network job positings website.