Major Construction to begin

SAVE THE DATE!MAJOR CONSTRUCTION BEGINS IN TYSONS THIS SPRINGOn Route 123, Route 7, Dulles Toll Road, and the Capital Beltway

You're Invited to"Keep Tysons Moving"An Executive Business Briefing on the Capital Beltway HOT Lanes and Dulles Corridor Metrorail Projects

Thursday, March 26, 20097:30AM - Registration8:00AM - Presentation9:00AM - Workshop: Employer/Commuting SolutionsCapital One1680 Capital One DriveMcLean, VA 22102-3491(703) 720-1000

HOSTED BY:Virginia Department of Transportation (VDOT)Metropolitan Washington Airports AuthorityVirginia Department of Rail and Public Transportation (DRPT)Fairfax County Department of TransportationTysons Transportation Association (TYTRAN)Fairfax County Chamber of CommerceFairfax County Economic Development AuthorityVisit Fairfax (FXVA)Fluor-TransurbanDulles Transit PartnersBriefing will include:Construction Schedules and Potential Traffic Impacts Resources for Employers & CommutersAnd much more!!

RSVP at outreach@virginiahotlanes.com or (877) 495-VDOT

Wood floors = Rent it now

End unit condo in secure building in a gated community. Enjoy your wood floors through entire home. Fill up the walk-in closet in the bedroom. Bask in the outdoors on your deck. Experience the ease of cooking with your built in microwave. Be glad you have a washer and dryer in your home. Wash up in your upgraded bathroom. Enjoy life!

Plus enjoy the amenities = clubhouse, outdoor pool, party room, movie room, fitness center, sauna, car wash area, playground, fitness trail, basketball, bbq area, and more!

Plus enjoy the location = Tysons Corner, not far from brand new Harris Teeter, will be a block away from a brand new metro station (completion date not yet known), and close to major roads: 123, 66, 495, 7, 267, MD, DC, and more!

Lots of photos = http://picasaweb.google.com/AgentKnows/1571SpringGateDrive6316FORRENT?feat=directlink

For more information or to schedule a showing, contact:

Jeff Wu
Tysons Corner Specialist
Weichert, Realtors
AgentKnowsHomes.com
703-938-6070x198
240-994-­7938
Jeff@AgentKnowsHomes.­com
Licensed in VA + MD
Equal Housing Opportunity

One Bedroom for Rent

Gates of McLean One Bedroom One Bathroom For RENT! It will be available to move-in 2/1/09. This great home has real wood floors, is at the end of the hall (so only neighbors on one side), and has a beautiful wooded view. There are real wood floors throughout the entire home. The bedroom has a walk-in closet. Plus there is upgraded lighting throughout, including dimmers. Relax on the balcony, or inside in style. Your car will be taken care of as well, as there is a garage parking.

For more information or to schedule a showing, Contact =

$1275/month
you pay your own gas and electric

Jeff Wu
Weichert, Realtors
703-938-6070 x198
240-994-7938
Jeff@AgentKnowsHomes.com
Licensed in Virginia and Maryland
Equal Housing Opportunity

Gates of McLean - December (2008) Recap

What happened in the Gates of McLean in December of 2008? Well in terms of Real Estate, here's a recap:

There was 1 SOLD property, and 0 (zero) properties that RENTED.

The property that SOLD was a 2 bedroom 2 bathroom Preston model. This is the biggest 2 bedroom in the mid-rise buildings (see earlier blog if not sure about mid-rise vs. garden style building). This home sold for $$317,000 with a subsidy of $8,000. So an effective net price to the seller of $309,000. Coincidentally this was a bank owned property.

The lack of rental activity is not suprising. December is one of the most unappealing months to move, as people don't often like to move: a) during the winter, or b) close to the holidays. One would think that in a community of so many homes, and 40+ being rented each year, that there would be at least one rented in December. However, in the same month last year, 2007, there were also 0 (zero) RENTED properties.

(data from MRIS)

No FHA

I showed a property for sale today. Regardless if my client liked it or not (Which they did). The listing agent said no FHA contracts. That sounds pretty silly. Especially considering that the FHA loan is the bulk of the loans going through these days. It was a bank owned property that was relatively well priced. The listing agent told me that the seller, the bank, didn't want to take the property off the market for an FHA loan/contract that wouldn't happen. He said the community wasn't FHA approved. He is right. It isn't. But there are always exceptions. I know good loan officers who have worked hard to get spot approvals on individual cases. In this community, The Gates of McLean, this seller believs that the high investor ratios of the community prohibit FHA loans from being approved. This is a challenge I've alluded to briefly in a past blog on 9/23/08 "Guilty Party or Victim of the System" (http://gatesofmclean.blogspot.com/2008/09/guilty-party-or-victim-of-system.html).
Now it is a very real problem.

Available in February = 3 Bedroom for Rent

Great Gates of McLean property coming up for rent. It will be available before you know it. This property has granite counters, upgraded flooring, crown molding, and many other nice improvements.

3 Bedroom 2 Bathroom home available for rent, you can move-in during February 2009. Around 1275 square feet of living area. There is also a deck/patio. This home is easy access as the parking spaces are right in front, and it is a first floor property. No lugging groceries up stairs or in the elevator.

For more information, or to schedule an appointment to see the property contact:

Jeff Wu
Weichert, Realtors
240-994-7938
703-938-6070 x198
Jeff@AgentKnowsHomes.com

What happened last month at the Gates

November, a month for Thanksgiving and real estate sales. Well one property at the Gates of McLean sold. It was a two bedroom two bathroom home in a mid-rise building. This property Sold for $350,000 and gave back a closing cost credit to the buyer of $5,000. The property was on the market a paltry 9 days.

The rental market fared slightly better than the Gates resale market in November. There were 3 properties that Rented in November. One was a 3 bedroom, renting for $1850 in 21 days on the market. Both of the other properties that rented were 2 bedroom 2 bathroom homes. They rented at an average of $1750 and in an average of 17 days on the market.

Overall not a ton of activity. But what activity that did occur happened at a very good pace.

(Data taken from MRIS)