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Reston, VA Real Estate News

If you live in Reston VA you probably know the Lake Anne Village Center. A stunning architectural icon of the New Town movement to the world at large...home and the heart of Reston to those of us fortunate enough to live there.  That we need something to happen in our little village center is probably not a question...but what should happen? What do you feel about Fairfax County's plans to Revitalize the village center where Robert E. Simon's dream was launched more than 40 years ago?
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By Pete Blondin
(ERA Teachers Inc)
The inventory of condos for sale in Reston seems to have jumped to about 210 homes active on the market as of the 15th of April 2007 and new contracts running at a rate of about 40 a month.  Consequently, the absorbtion rate for these homes is about 5 months on the market.  Comparing the closed prices to the original list prices for the closings through 31 March ... Closing prices average about 5% below original list price.  If you'd like to view condos currently active on the market visit my site http://www.reston-condos.com/ and look for available homes.
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By Pete Blondin
(ERA Teachers Inc)
The inventory of townhomes for sale in Reston seems to have jumped to about 120 homes active on the market as of the 15th of April 2007 and new contracts are running at about 55 a month.  Consequently, the absorbtion rate for these homes is about 2 months on the market.  Comparing the closed prices to the original list prices for the closings through 31 March ... Closing prices average about 7% below original list price
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By Pete Blondin
(ERA Teachers Inc)
The inventory of single family detached homes for sale in Reston has jumped 25% over the last month to about 100 homes active on the market as of the 15th of April 2007 and new contracts running about 25 a month.  Consequently, the absorbtion rate for these homes is about 4 months on the market.  Comparing the closed prices to the original list prices for the closings through 15 April ... Closing prices average about 10% below original list prices.  Oddly enough, the original list prices of the homes closed so far in 2007 appear to average about the same in 2005, 2006 and 2007.
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By Pete Blondin
(ERA Teachers Inc)
1st Quarter '07 update for real estate Reston Virginia. The inventory of condos for sale in Reston was 196 homes active on the market as of the 31st of March 2007 with new contracts running at 52 a month for the 1st quarter.  Consequently, the absorbtion rate for these homes is about 4 months on the market.  Comparing the closed prices to the original list prices for the closings through 31 March ... Closing prices average about 5% below original list price. If you'd like to view some recent sales ... Visit http://www.reston-condos.com/6recent.htm and select the category which interests you.
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By Pete Blondin
(ERA Teachers Inc)
1st Quarter '07 update for real estate Reston Virginia. The inventory of detached Single Family Homes for sale in Reston was 88 homes active on the market as of the 31st of March 2007 with new contracts running at about 32 a month for the 1st quarter.  Consequently, the absorbtion rate for these homes is about 3 months on the market.  Comparing the closed prices to the original list prices for the closings through 31 March ... Closing prices average about 9% below original list price. If you'd like to view some recent sales ... Visit http://www.reston-condos.com/6recent.htm and select the category which interests you.
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By Pete Blondin
(ERA Teachers Inc)
1st Quarter '07 update for real estate Reston Virginia. The inventory of townhomes for sale in Reston jumped to 106 homes active on the market as of the 31st of March 2007 with new contracts running at about 50 a month for the 1st quarter.  Consequently, the absorbtion rate for these homes is about 2 months on the market.  Comparing the closed prices to the original list prices for the closings through 31 March ... Closing prices average about 5% below original list price. If you'd like to view some recent sales ... Visit http://www.reston-condos.com/6recent.htm and select the category which interests you.
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By Pete Blondin
(ERA Teachers Inc)
Lake Newport is located in North Reston (Zip 20194) just North of Lake Anne across Baron Cameron Avenue.  It was the 4th man-made lake in Reston and built in 1981.  It has a surface area of about 12 acres, a maximum depth of about 19 feet and holds about 37 million gallons.  It has one public access point and numerous direct access points from individual homes and it's lakefront communities.  Lake Newport's shores host a few hundred homes.  They range from Townhomes to Single Family Homes.  Prices for these lakefront community homes start in the mid-$600's on up through $1.5 Million. Visit http://www.reston-lakefront.com/ for an overview, www.Reston-Lakefront.com/lakenew.htm for Lake Anne particulars and www.Reston-Lakefront.com/forsale.htm to view available homesLake Newport hosts a ha...
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By Pete Blondin
(ERA Teachers Inc)
Lake Anne is located in Mid-Reston (Zip 20190) bordered by North Shore Drive, Wiehle Avenue and South Shore Road.  It was the 1st man-made lake in Reston and built in 1962.  It has a surface area of about 27 acres, a maximum depth of about 23 feet and holds about 120 million gallons.  It has one public access point and numerous direct access points from individual homes and it's lakefront communities.  The North end of Lake Anne is the historic site of the birth of Reston.  Robert E. Simon built the Lake Anne Village Center and offered the 1st three groups of homes to new Reston residents in the early 1960's. Lake Anne's shores host just over 500 homes.  They range from Condos to Townhomes and Single Family Homes.  Prices for these lakefront community homes start in the mid-$200's on up...
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By Pete Blondin
(ERA Teachers Inc)
Lake Audubon is located in South Reston (Zip 20191) bordered by Upper Lake South Lakes Drive, Twin Branches Road, Glade Drive and Soapstone Drive.  It was the 3rd man-made lake in Reston and built in 1979.  It has a surface area of about 44 acres, a maximum depth of about 21 feet and holds about 136 million gallons.  It has one public access point and numerous direct access points from individual homes and it's lakefront communities.  Lake Audubon's shores host just under 700 homes.  They range from Condos to Townhomes, Patio Homes and Single Family Homes.  Prices for these lakefront community homes start in the High-$200's on up through $1.5 Million. Visit http://www.reston-lakefront.com/ for an overview, www.Reston-Lakefront.com/lakeaud.htm for Lake Audubon particulars and www.Reston-...
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By Pete Blondin
(ERA Teachers Inc)
Lake Thoreau is located in South Reston (Zip 20191) bordered by Upper Lake Drive, South Lakes Drive, Ridge Heights Drive and Soapstone Drive.  It was the 2nd man-made lake in Reston and built in 1971.  It has a surface area of about 40 acres, a maximum depth of about 38 feet and holds about 265 million gallons.  It has four public access points and numerous direct access points from individual homes and it's lakefront communities.  Lake Thoreau's shores host just under 600 homes.  They range from Condos to Townhomes, Patio Homes and Single Family Homes.  Prices for these lakefront community homes start in the High-$300's on up through $1.5 Million. Visit www.Reston-Lakefront.com for an overview, www.Reston-Lakefront.com/lakethor.htm fot Lake Thoreau particulars and www.Reston-Lakefront....
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By Pete Blondin
(ERA Teachers Inc)
Had a wonderful conversation with Jorge Kfoury the developer of Reston's Planned Centerpiece Condominium ... Linden Springs.  Linden Springs is being developed at the recent site of Prison Fellowship and the Bowman House in Mid Reston.  Jorge indicated that the historic Bowman House will remain (although it has been enhanced a bit) and the other buildings will be removed and replaced by three new condominium buildings named Bowman, Wiehle and (Robert S.) Simon (Reston's founder) Courts.  A brief history of Reston and it's intertwining with the Linden Springs site ... http://www.restonmuseum.org/retrospective.html 43 two and three bedroom Condominium Units are planned for the overall development.  They are expected to sell in the $1 to 5 Million price range and to complete construction i...
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By Pete Blondin
(ERA Teachers Inc)
Lakefront Living ... Like Being on Vacation Every Day!  If your home looks out over a lake, you'll be treated to a constantly changing view every hour ... Every day ... Every season ... There's nothing quite like it. It's a little bit like being on vacation ... Without leaving home.  Reston has four wonderful lakes which host hundreds of individual lakefront homes.  Unlike many other areas in Northern Virginia, Reston manages it's lakes so they can be used for boating and fishing and even the occasional triathlon.Two of Reston's lakes ... Lake Thoreau and Lake Audubon are located in South Reston.  Mid-Reston is host to Lake Anne who's shores were the birthplace of Reston.  North Reston has Lake Newport.  Each of the lakes are available to Reston Residents and are readily accessible by R...
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By Pete Blondin
(ERA Teachers Inc)
Reston has 3 Postal Zip Code areas, North Reston (20194), Mid-Reston (20190) & South Reston (20191).  South Reston (20191) begins at Reston's Southern point and runs Northward to the Dulles Toll Road.  Mid-Reston (20190) covers the area running from the Dulles Toll Road Northward to Baron Cameron Avenue.  North Reston (20194) begins at Baron Cameron Avenue and runs Northward to a combination of Lake Fairfax Park, Route 7 and Wiehle Avenue.  The linked map www.reston-condos.com/3map.htm provides a graphic view of the three areas and subsequent links to information on the Condos in each area.
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By Pete Blondin
(ERA Teachers Inc)
The Reston Town Center is located in Reston Virginia in the northwestern corner of Fairfax County VA.  The Town Center hosts thousands of wonderful homes in its condo and townhome communities.  The environment is hard to describe ... It's like living in the city ... But it's actually part of a planned community.   It's metropolitan ... yet in the suburbs.  It's convenient ... yet private.  It's new ... yet familiar. It's Downtown ... yet relatively crime-free.  There's nothing quite like it. It evolves and becomes more sophisticated every day!The Reston Town Center offers benefits that just aren't available anywhere else in Northern Virginia ... Spectacular Restaurants ... Outside Strolling & Dining ... A Fantastic array of stores ... The opulence of the Reston's Hyatt Regency ... An ou...
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By Pete Blondin
(ERA Teachers Inc)
The inventory of condos for sale in Reston seems to have leveled out to about 175 homes active on the market as of the 15th of March 2007 and new contracts running at a rate of about 57 a month.  Consequently, the absorbtion rate for these homes is about 3 months on the market.  Comparing the closed prices to the original list prices for the closings through 15 March ... Closing prices average about 5% below original list price.  If you'd like to view condos currently active on the market visit my site www.reston-condos.com and look for available homes.
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By Pete Blondin
(ERA Teachers Inc)
The inventory of townhomes for sale in Reston seems to have leveled out to about 85 homes active on the market as of the 15th of March 2007 and new contracts are running at about 55 a month.  Consequently, the absorbtion rate for these homes is about 1.5 months on the market.  Comparing the closed prices to the original list prices for the closings through 15 March ... Closing prices average about 7% below original list price
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By Pete Blondin
(ERA Teachers Inc)
The inventory of single family detached homes for sale in Reston seems to have leveled out to about 80 homes active on the market as of the 15th of March 2007 and new contracts running about 20 a month.  Consequently, the absorbtion rate for these homes is about 4 months on the market.  Comparing the closed prices to the original list prices for the closings through 15 March ... Closing prices average about 10% below original list prices.  Oddly enough, the original list prices of the homes closed so far in 2007 appear to average about the same in 2005, 2006 and 2007.
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By Holly Weatherwax, A Great Real Estate Experience
( Associate Broker, Momentum Realty)
I confess; I grew up in Reston and I still live here!!!! Okay, now that I have made my confession, I have to admit that I think living in Reston is fantastic.I moved here as a kid and participated in all that Reston had to offer at the time: camps, swim team, soccer, softball, etc. As an adult, I could not wait to get away and find my own place.  When it came time to buy a house, however, my husband and I ended up buying it in Reston.  20 years later I am sure we made the right decision.Reston has a great sense of community.  I know that my neighbors are friends and that my friends are my neighbors.  We now have our 'urban' hub--which true city folks laugh at, but works for us. Most of my neighbors have steadily moved up the housing chain before ending up in a house where they plan to s...
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By Lenn Harley, Real Estate Broker - Virginia & Maryland
(Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate)
REAL ESTATE IN RESTON, VIRGINIALOCATION, LOCATION, LOCATION FOR RESTON, VIRGINIAReston real estate is a luxury market.  The proximity to high tech areas in Northern Virginia has long made homes in Reston attractive to home buyers.  Urban living in RESTON is exciting with upscale shopping, wonderful restaurants and convenience and shopping, shopping, shopping.  Reston is a PLANNED COMMUNITY with development beginning in the 1960s and continuing today.  High scale shopping, new luxury home communities, preserved wooded acreage and recreation areas for Reston residents.  Reston is also a large employment market.  High tech, business management, financial companies, builders and international businesses are located in Reston.                                   NOVEMBER SALESAverage price det...
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