Arlington VA Real Estate: The Best Home Values in 2008
Everyone has their own tastes and needs. I get that. This analysis purely describes the best values in Arlington VA real estate. These are the best buys for your dollars. I’m going to break it down in $100,000 increments. Don’t worry if you are at the lower end of the ladder. I can help you move up by directing you to wise investments in one of the best areas in the country for real estate, Arlington Virginia. Typically real estate appreciates about 6-7% a year on average in the DC area. My goal is to help you see more than 10%.
If your budget is $400,000
The Phoenix at Clarendon – 1020 N. Highland St., Arlington VA 22201
This is one new construction condo in Arlington that is actually under priced. You are likely to see appreciation as soon as they sell out. You are basically getting a new home for less than you will pay for similar re-sale homes in the area. Without a doubt the #1 feature of The Phoenix is location. You are a block and a half from Clarendon Metro and steps to the best of Arlington’s restaurants and nightlife.
• The Phoenix condo provides a superior Arlington location in the middle of Clarendon.
• You get all the high-end finishes standard at The Phoenix. Hardwood floors, stainless steel GE appliances, Granite countertops.
• Some of the condos at The Phoenix come with balconies.
• Beautiful amenities. Phoenix amenities include: rooftop pool, large fitness center, media center, concierge and garage parking.
• Something you won’t find anywhere else; direct access to the local Post Office. They kept a little history at The Phoenix.
If your budget is $600,000
For this amount you want to move up to a 2-bedroom condo and I have 2 different possibilities for you.
The Residences at Liberty Center – 2900 Clarendon Blvd., Arlington VA 22203
If The Residences at Liberty Center just started selling again in March (2008). This is a gorgeous brand new condominium in Ballston. Like the Phoenix at Clarendon they had some buyers back out of their contracts, which resulted in units to sell. It is a great opportunity to get a great deal on a brand new condo in Arlington. Availability will change, but right now they have 1-bedrooms priced below $400,000 and even had some two bedrooms priced below $500,000. I like the large windows, location and Marvelous Market on the ground level. Contact me for the latest details and pricing.
The Phoenix at Clarendon – 1020 N. Highland St., Arlington VA 22201
The Phoenix is available now and if you can get a 2 bedroom for around $500,000 in Clarendon I think you will be very happy with your investment within a relatively short period of time.
• The Phoenix condo provides a superior Arlington location in the middle of Clarendon.
• The Phoenix has a great cost per square foot compared to other condos in Clarendon.
• You get all the high-end finishes standard at The Phoenix. Hardwood floors, stainless steel GE appliances, Granite countertops.
• Some of the condos at The Phoenix come with balconies.
• Lots of amenities for a relatively low condo fee. Phoenix amenities include: rooftop pool, decent fitness center, concierge and garage parking.
• Something you won’t find anywhere else; direct access to the local Post Office.
If your budget is $600,000
The Odyssey – 2001 N. 15th St., Arlington VA 22101
Try to steal one of the 2 bedrooms at The Odyssey with a view of DC. This feature is timeless and beyond what any of the neighboring buildings can offer.
• The Odyssey offers stunning views of The Washington Monument, The Capitol, The Lincoln Memorial, The National Cathedral and Potomac River.
• The Odyssey has the best amenities in Northern Virginia including rooftop pool and terrace with all the views of course. They have also enclosed the fitness center and pool lounge in glass so that they share the views. The fitness center is actually really well equipped. The concierge is available 24 hours a day. The building has its own spa and restaurant coming soon.
• You get at least one garage parking space depending on whether the original owners paid for a second.
• Despite the high-end amenities, the monthly condo fee is extremely low.
• The Odyssey is located near Courthouse Metro only one metro stop away from DC.
• This building combines unique architecture, quality construction, location and views for what I predict to be a great value.
Condos for sale at The Odyssey.
If your budget is $700,000
Shirlington Crest – S. Kenmore Court, Arlington VA 22206
Shirlington Crest offers brand new brick townhouses in Shirlington priced from the mid $500′s. Some offer immediate delivery. Stanley Martin offers several different floorplans to choose from and number of different options to customize your brand new Shirlington townhouse. Shirlington Village has blossomed in the last few years and continues to become more attractive. It has cemented itself as a Arlington hot spot despite lacking direct Metrorail access.
• The arrival of Harris Teeter is always a good sign and the choice of restaurants in Shirlington is phenomenal.
• Where else are you going to find a brand new townhouse in Arlington, this convenient to DC for under $650,000? Nowhere that I know of.
• The townhouses at Shirlington Crest all have brick fronts and come with high-end features like hardwood and gourmet kitchens. Double garages are a huge bonus.
• They offer rooftop terraces and some come with small balconies. Urban townhouses sometimes leave out this key feature. The thought of owning a townhouse and not being able to barbecue is fearful to say the least.
• Low HOA fees. No condo fee!
If your budget is $800,000
The Mercer & Wooster Lofts – 1600 Clarendon Blvd., Arlington VA 22209
This list would not be complete without including Wooster and Mercer lofts. The Wooster and Mercer offer new loft condos at different prices/sizes, but I think $800,000 is a good sweet spot. You are surrounded by much more expensive neighbors. I spend a lot of time in and out of different homes and rarely find anything that impresses me as much as these buildings. The Abdo group “gets it” with unique, yet timeless design.
• Top of the line is standard at Wooster & Mercer Lofts. Sub-Zero refrigerator, Wolf range, Waterworks plumbing fixtures, cherry or mahogany hardwood floors throughout. No carpet in the bedrooms or randomly placed ceramic tiles to save money.
• Each home is like nothing else in Northern Virginia real estate. Choose a unit with 10-22 foot ceilings and a private rooftop terrace. Only 87 units total between the Wooster and the Mercer.
• High quality, high efficiency “green” construction.
• The Wooster and Mercer Lofts actually feature brick from the Capital Children’s Museum that is over 130 years old. The brick is used as accents such as wrapping columns and support walls.
• Due to construction and land costs we are unlikely to see another building like this built in downtown Arlington. From a budget perspective it makes more sense to build high-rise buildings with cramped spaces.
Learn more about Wooster & Mercer Lofts.
If your budget is over $800,000
Invest in a detached house in North Arlington. There are a lot of variables that will be involved for which I recommend consulting a local Realtor like myself. As you know one of the key considerations is always LOCATION so I am going to focus there for this discussion. The zip code I have been watching out-perform all others in Arlington is 22207. It broadly stretches along North Glebe Rd. all the way to the Chain Bridge. It also follows a perpendicular path along Lee Hwy from Cherrydale to East Falls Church.
• During the last 12 months (amongst the mortgage industry meltdown) average home prices rose 19.74%.
• The all-stars performers surround Washington Golf & Country Club. If you can afford it, this area is worth looking into. So is a membership to the country club.
• Great schools, neighborhoods, shopping and convenience to everything.
• Land is limited in Arlington and demand is constant. If there was a bubble for North Arlington detached houses the burst was quick and painless.
• You can still take advantage of historically low mortgage rates. This should not be taken for granted.
View Homes For Sale in the 22207 zip code.
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