Gates of McLean sales in July 2009

1 property sold in the Gates of McLean in Tysosn corner in July 2009. It was a bank owned property on the top floor of building 1580. This property was on the market for 16 days, and it had multiple offers. It was originally asking $190,971, and sold for $193,000 in CASH. The one bedroom one bathroom home was a 642 square foot Chelsea model. There was no seller subsidy to the buyer in this transaction. The price per square foot was $300.62.

July of 2009 compared very poorly in terms of number of transactions to the same month last year (July 2008). In July 2008 there were 7 home sold. Although it was only one property this past month (July 2009) we did have improvements in both areas of price per square foot and days on market average where last year they had $293.27 and 67.5 respectively.

In July 2009 there were also 7 homes that rented. They ranged from a low of a $1,200 a month for a one bedroom one bathroom to a high of $1,550 for a 2 bedroom 2 bathroom.

Right now there are 10 properties available at the Gates of McLean. 2 of those are for sale, both are one bedrooms in Garden style buildings. The other 8 properties are rentals. Here is a graphic of all of them =

data from MRIS

Not Enough People

The Gates of McLean annual meeting was held yesterday evening. There was a good agenda. It was filled with useful information and effective presenters. I was very happy to be able to help coordinate the attendance of the first presenters, the Dulles Metro and the HOT lanes. Both groups talked about their projects, the updates, the benefits, the construction, and the timing. There were good explanations of what they're trying to do to improve our area transportation options. The metro stop will be literally a block or less from the Gates of McLean. It could end up being a real benefit to the community. The HOT lanes will also have specific on and off ramps into the Tysons area. Both projects are slated to finish around 2013.

Next on the agenda was the Fairfax County Police. They gave a good presentation on safety in the community. It was stressed that everyone can be a part of this effort. All residents should make it a habit of noticing things in the community throughout the day, at all times. The residents are the eyes and ears of the police. And no one should be afraid to contact the non-emergency police phone number if they feel something is not right.

Then there was an update on the community budget. The general assessment will be going up 3% in 2009. It was stated that this is very low, compared to the norm, and compared to other communities. A CMC official that was present, said that one of his communities was raising their assessment by 14%. The board also mentioned that they worked hard to keep it as low as possible. They also mentioned that all residents are welcome, throughout the year, to be involved in the financial meetings and help plan the future budgets. This is not new.

The next item on the agenda was supposed to be an election to fill the 2 open board spots. This did not happen. A quorum wasn't reached so voting couldn't be held. There was a 5% shortage. Hopefully this can be overcome next time.

At the end of the meeting there were prizes drawn for residents who did attend. Although the overall attendance was much greater than the normal board meetings, it can still stand for improvement (as the lack of quorum evidences).

The speakers from Dulles Metro, HOT lanes, and the Fairfax County Police all had handouts. I have copies of them for anyone who missed the meeting.