Tag: Real Estate

Looking Back: Loudoun County Growth in 2015

Looking back at Loudoun County’s growth in 2015 and what the future has in store

Loudoun County experienced another great year of growth in 2015 and the future is looking great! From housing and business growth in the east to the farm land and wineries in the west, Loudoun County is appealing to a broad spectrum of Northern Virginians.

JS Realty increase loudoun looking OVERALL GROWTH
Loudoun has emerged into the upper echelon of Data Center Clusters in the world. These types of businesses add a commercial tax base that doesn’t overwhelm the infrastructure. The Loudoun Times-Mirror states that according to the Bureau of Economic Analysis, Loudoun County grew nearly twice the rate of local jurisdictions in Virginia and the United States, when using per capita income. From Top Golf and One Loudoun to the vast number of new restaurants and businesses opening up, Loudoun County is positioning itself very well for the future.

REAL ESTATE
Loudoun County Real Estate also had a very strong year in 2015. 6,485 homes were sold this past year – which is up from the 5,802 sold in 2014. The average sold price for all homes sold in Loudoun County was $487,687.

JS Realty looking back loudoun 2015OVERVIEW
3,091 single family homes
2,398 townhouses
812 condos
184 “other” properties

DETACHED HOMES
3,091 sold
Highest Price: $5,500,000 on Carters Farm Lane (Middleburg)
Lowest Price: $124,900 on Railroad Street (Bluemont)

TOWNHOMES
2,398 sold
Highest Price: $1,000,000 on Fairway Oaks Square (Leesburg)
Lowest Price: $125,000 on Hancock Place (Leesburg)

CONDOS
812 sold
Highest Price: $699,000 on Leopards Chase Terrace (Sterling)
Lowest Price: $81,000 on Washington Street NE (Leesburg)

jsrealty4u looking loudoun 2015 future silver metroWith the Silver Line Metro extending through the county on the horizon, the possibility of a ballpark, and the continued growth in the housing and business sectors, Loudoun County is looking more and more like the ideal place to live in Northern Virginia.

Not So Secret Agents

We Are the Expert Agents You Are Looking For!

The JS Realty Team is committed to being leaders in our industry to ensure all of our real estate clients have a positive experience. We are dedicated to building lifelong relationships, and to helping clients fulfill their dreams through ethical, honest and fair real estate solutions. If you want experience and integrity in your real estate partner, we are the experts you’re looking for.

Using all the resources at their disposal, we set out to accomplish our most recent mission of finding a family a new home in Brambleton. Here’s how the mission went:

Download a FREE Ultimate Guide to: Living in Brambleton by using the code Secret Agent.

If you have a home buying or selling mission for our Team, call the Secret Agent Hotlines!
Agent Sarah Taylor: 703-475-1003
Agent Scott Koval: 703-625-6654

2015 Year in Review: Brambleton Community

A reflection of the Brambleton Community over the past year and a look at what the future holds

As 2015 came to a close, we started looking ahead at what the new year of 2016 would bring. In doing so, we reflected on the Brambleton neighborhood and all of its accomplishments during the past 12 months. We were fortunate to speak with Stephanie Lee from the Brambleton Community to get her thoughts on how the year went.

Lee’s top 3 highlights were:

JS Realty Bram Brew Fest 2015-Launching the new Brambleton TV Merchant Series
-Hosting the Inaugural Brambleton BrewFest
-Launching a new mobile-friendly website

 

She went on to recognize some other great achievements:

JS Realty BEAM IREM Year“We were also very proud of those Town Center tenants who won awards, including Natalie Perkins of Bella Ballerina and Dr. Costa of Costa Family Dentistry who were recognized in Leesburg Today’s 40 Under 40. Under the property management of the Rappaport Company, the Brambleton Town Center was honored with the Institute of Real Estate Management’s BEAM Award (Building Excellence and Achievement in Management).”

The Real Estate market in Brambleton stayed very strong this past year! Based on what is listed in the MLS system, there were over 351 homes sold from between January 1 – December 31, 2015. The highest price home sold for $890K, and it was the Van Metre Homes “Portsmouth” model home off Gentle Falls Drives. JS Realty Van Metre Portsmouth YearIf you haven’t seen it yet, swing by and take a look. The model is still open, and it it is gorgeous – full of open space, granite counters, stainless steel appliances, and so many more amazing features.

DETACHED HOMES
115 Sold
Highest Price: $890,000 – Gentle Falls Drive
Lowest Price: $487,680 – Palladian Blue Terrace
Average Sales Price: $673,611

TOWNHOMES
222 Sold
Highest Price: $644,990 – Epperson Square
Lowest Price: $183,000 (townhouse style condo)
Average Sales Price: $442,589

CONDOMINIUMS
7 Sold
Highest Price: $336,900 – Settlers Trail
Lowest Price: $177,500 – Blue Elder Terrace
Average Sales Price: $270,686

Note: There were 7 other home sales, however they were listed as “other”, “attached row” or “patio home”.

year 2016 jsrealty4uWe anticipate 2016 to be just as good of a year – or better! Real Estate is expected to stay strong and we hope to outdo this year’s numbers and continue to see prices slightly rise.

Stephanie Lee was also able to share some new upcoming events, which are sure to support the community and its growth as a whole:

– A new community-wide health initiative, the ArmorUp Campaign
– Grand opening of the new Boomer neighborhood, Birchwood at Brambleton
– Knutson’s new Live Downtown Brambleton – townhomes right in the Town Center!

To view the Brambleton 2016 Development Update, please check out the information sheet here.

As you can see, this new year holds lots of new growth for the neighborhood! Please contact us if you’d like more information about buying or selling a home in Brambleton. We’re the Brambleton experts!

2016 Brambleton Real Estate Market Review

How did the 2016 Brambleton real estate market fare? And what can you expect in 2017?

This handy infographic illustrates how the Brambleton Real Estate market fared in 2016 compared to 2015.

Brambleton Bram Infographic Real Estate 2016 JSRealty4U

While 315 homes were sold in 2016, it is down 11% from the previous year. In 2015, 354 homes were sold during the same time period (Jan-Dec). On a positive note, this year homes spent less time on the market and had higher sales prices than homes sold in 2015.

Looking ahead – Brambleton in 2017

Sales begin in January of 2017 for Birchwood at Brambleton – low maintenance condominiums, courtyard homes and villas by Miller & Smith and Van Metre Homes. Prices start from the $300’s.

“Brambleton Town Center” is the new townhome community by Van Metre Homes. Located in the heart of the town center, construction begins in the Spring of 2017. They will offer 3 distinctive and different townhome designs with an urban and contemporary feel.

Phase 1 is already under construction and 75% sold out at Downtown Brambleton. Also located in the town center, Downtown Brambleton by Knutson features 4-story elevator townhomes with a “Yard in the Sky.”

The JS Realty Team offers FREE home analysis & consultations and a
4.5% FULL Service Listing Fee (total Real Estate commission).
Whether buying, selling, or investing, we can lead you to great real estate solutions in 2017.  Schedule your FREE no obligation consultation today!

Condo For Sale in Alexandria, VA

This charming condo in the Exchange at Van Dorn Community was recently listed For Sale! condo jsrealty4uLocated just 7 miles from the National Harbor, this 2 bedroom, 2 bathroom condo is filled with natural light.
Click here for the full listing.

condo jsrealty4uA large family room showcases built in shelving with plenty of storage space and crown molding.

condo jsrealty4uThe dining room is spacious and has crown molding and a chandelier. The kitchen features a breakfast bar, a pantry, tons of cabinet space and a gorgeous granite counter top.

The large Master bedroom boasts a walk-in closet and an addition large closet. The master bathroom features a linen closet, a beautiful granite sink and vanity, and has a shower/tub combo. The 2nd bedroom has a walk-in closet, recessed lighting, and a large window.

The large, private balcony off the family room overlooks the professionally landscaped common area. Community amenities include a dog park, walking trail, tot lot, swimming pool, business center, billiards room, sports court, and fitness center with locker rooms. For the safety and security of the condo residents, the Exchange at Van Dorn is a controlled-access community with a building engineer and after-hours emergency maintenance service.

Download our Eisenhower Avenue Listing Brochure or call us at 703-475-1003 for a private showing. This could be your new home!

Choosing a Lender: Local VS Online

When it comes to finding a lender for a mortgage loan, many borrowers take the same approach as with most other needs – they resort to the internet. This approach can be very fruitful, but it can also have some pitfalls. Today, we’re going to discuss some of the advantages of working with on-line lenders as well as advantages of working with local lenders.

Often times an on-line search for mortgages will result in finding mortgage brokers that are advertising very competitive rates. While getting the lowest interest rate is a goal for most borrowers, it may come with some unforeseen costs. Mortgage brokers usually have access to multiple investors so that they can “shop around” for low rates when it is time to lock in a loan for their borrowers. Generally speaking, the more investors they have access to, the better chances of getting a very competitive rate.

ONLINE LENDERS
lender computer research jsrealty4uSo why not go on-line to find a mortgage broker that can offer a low interest rate? Because the rate is only part of the equation. Is the broker charging discount points to be able to offer such a good rate? If there are points involved, the lower rate could results in a worse financial scenario for the borrower.

Most mortgage brokers do not participate in the processing or underwriting of the loan. The mortgage broker is just a “middle man” that is paid to link a borrower with an investor and is left out of the most critical part of the loan approval process. They often gather the information from the loan application, along with supporting documentation, and then send it off to the investor so that they can process and underwrite the loan. Many times, the loan will have some “issues” that require additional documentation or explanations from the borrower. In some cases, the broker is not aware of any issues with the loan. Even worse, if they are aware of the issues, they have no control as to how the issues can be corrected or how long it may take to get the problem resolved.

Another important aspect of any loan is the appraised value of the property that is being used as collateral. If your mortgage broker is from a different part of the country, how do you know that they are using appraisers that have a keen understanding of the nuances of property values in the DC Metropolitan area? Just in Northern Virginia alone, property values for similar type homes can vary greatly by zip code, school district, and city. It is important that the appraisers understand these differences when compiling an appraisal report.

LOCAL LENDERS
lender business people interview sell homeSometimes it is important to be able to have a face-to-face meeting between the lender and the borrower. Many borrowers would prefer to hand deliver valuable and sensitive personal financial information versus sending it via email or some other electronic format. In addition, it is also comforting for some borrowers to be able to shake hands with the people that will be making the determination of whether a loan of hundreds of thousands of dollars will be approved.

There are mortgage programs that are specific to a general area or state. Recently, VHDA was offering to pay 3% of a sales price to qualified borrowers purchasing a home in Virginia. The benefit to borrowers qualifying for this program could be as much as $15,000! Having knowledge of these types of programs is essential when determining the best loan solution for borrowers. It is unreasonable to expect a mortgage broker from another part of the country to know about specific programs in your area.

OUR PREFERRED LENDER
JS Realty Intercoastal MortgageIntercoastal Mortgage Company is a local lender with headquarters located in Fairfax, VA and has been providing residential loan solutions for the DC Metro area since 1987. Intercoastal Mortgage Company will fund loans that have been processed and underwritten “in house” at our Fairfax, VA location. Similar to mortgage brokers, Intercoastal Mortgage Company (ICM) has access to multiple investors which allow us to look at various outlets when locking in a rate for a borrower. If the borrower has good credit and income, it may be as simple as seeing which investor has the lowest rate at time of the loan lock. If the borrower has experienced credit challenges, a short sale or foreclosure, ICM has access to investors that will service loans of this type. Perhaps there are programs such as the VHDA grant program that can save thousands of dollars for the borrower. We work very hard to keep updated on all local loan programs.

Because the processing and underwriting is completed “in house”, ICM is able to meet closing dates that many mortgage brokers are unable to meet.

The appraisal process is completed by having access to multiple “local” appraisers that know the DC area very well. The “pool” of certified appraisers that ICM uses have all shown their knowledge of the local area for an extended period of time.

The chart below sums up the advantages of working with a local lender versus an online lender.

Lenders

As you can see, a local lender can access multiple investors to offer very competitive rates, along with excellent service and timeliness that is extremely important in today’s lending environment.

 

JS Realty Keith Harris
Keith Harris
NMLS # 838973


Keith Harris
Senior Loan Officer
Office: 703-259-0788
keithh@icmtg.com

 

 

 

Tax Advantages of Buying a Home

For many people, purchasing a home, or homes, is the single largest investment they will make in their lifetime.  It is a decision that will affect their finances, lifestyle, and family for years to come.  Because of this impact, it is important to consider all aspects of home buying, along with the pros and cons of the choices that are being made. Aside from the actual home buying process, a question most homeowners have is: “What are the tax advantages of buying a home?”

The answer is: DEDUCTIONS, DEDUCTIONS, DEDUCTIONS!

When considering a home purchase, one very big pro is the favorable tax JS Realty Mortgage Tax Advantagestreatment you are able to take advantage of on your individual tax return.  Deducting mortgage interest and real estate taxes is often what makes it more beneficial for taxpayers to itemize their deductions (rather than using the standard deduction); along with state income taxes paid.  This makes itemizing more advantageous. These deductions reduce taxable income, which in turn, reduces taxes due. Typically, personal interest, such as credit card or car loan interest paid is not deductible, but qualified residence interest (with a few restrictions) is fully deductible.

You can deduct the interest paid if you meet the following criteria:

–Your home is your principal residence (meaning that’s where you spend the majority of your time)
–The loan is $1 million or less, and secured by your home
–The loan proceeds were used to acquire the home, or were used to substantially improve your home

JS Realty lender man mortgage contractYou can also deduct the interest on a second home mortgage (such as a vacation or mountain home), as long as the second home mortgage amount, when combined with the principal residence mortgage, does not exceed a combined total loan amount of $1,000,000.  For example, if your principal residence mortgage equaled $700,000, and you purchased a second home with a mortgage of $600,000, you would be able to deduct the interest on your $700,000 principal residence mortgage and you would be able to deduct the interest on $300,000 of your second home mortgage ($1,000,000 – $700,000) for a total interest deduction on $1,000,000 of your mortgage balances.

JS Realty Mortgage Tax AdvantagesThe interest on home equity loan debt is also deductible.  The home equity loan interest deduction is the interest on a loan amount that is the lesser of the loan balance, up to a $100,000 loan, or the fair market value of the home minus acquisition indebtedness.  This interest is deductible for regular tax purposes, no matter the use for the money.  If the loan is not used to acquire the property or make substantial improvements to the property, then careful consideration should be made before securing consumer debt with your home.  If it is the right option for you, home equity loan debt can be used to purchase a new car, a vacation, a hot tub, consolidate credit card balances — whatever your heart desires.  The interest will be deductible for regular tax purposes, however the amounts are not deductible when calculating alternative minimum tax (AMT) .  The ability to deduct home equity loan debt interest allows individuals to effectively exceed the $1 million loan limit by an additional $100,000, thus making the interest on combined home-secured loans up to $1.1 million, deductible.

The table below illustrates how various income levels and age groups would likely be affected if the mortgage interest deduction were not allowed.  For, example, average homeowners with income over $250,000+ would generally see an increase in their tax bill of $5,408, if the mortgage interest deduction were not allowed.  Another way to look at it, is that homeowners with income over $250,000 on average will see a $5,408 reduction in their tax bill when taking the mortgage interest deduction.  The ultimate benefit to a particular taxpayer is a case by case analysis that depends on the timing of the home acquisition, the interest rate of the loan, the principal of the loan, income level, other itemized deductions, etc.

JS Realty Tax Eliminating the MID

Points paid that are associated with initial acquisition indebtedness or are associated with the substantial improvement of a principal residence may be fully deductible.  Points paid that are associated with the acquisition indebtedness of a second home must be amortized over the life of the loan.  Points paid on all refinances must be amortized over the life of the loan.  All other settlement costs are required to be capitalized and added to the basis of the property.

Every home has real estate taxes and those are deductible as well.  And unlike qualified residence interest that can be deducted on a principal residence or second home, the real estate taxes paid on all of your properties is deductible, even if you own more than two properties!

Home Sale Sell JS RealtyA final major tax advantage comes when it is time to sell your home.  If you own and live in your home for two of five years and you haven’t sold another home within the two years prior to the sale date, the gain on the sale, up to $250,000 ($500,000 for married filing jointly), is excluded from income tax.  The con side to this exclusion is that any loss on personal residence is not deductible.

There are significant tax advantages to owning a home, and several rules and restrictions in place on the tax treatment of various items.  Consult your tax advisor on the proper treatment for your situation.  Should you need a tax advisor, Thompson Greenspon is happy to assist with your tax preparation and planning needs.

JS Realty Thompson Greenspon logo4035 Ridge Top Road #700, Fairfax, VA 22030
(703)385-8888  |  www.tgccpa.com

Fall Market Update for Brambleton

Things are moving right along in Brambleton (no pun intended)! Taking a look at the fall market, we can safely say that we are on target for another strong year of home sales here in the community.

Since the beginning of October, 21 properties have sold in Brambleton! An impressive 32 homes are currently under contract and 72 homes are still actively on the market. All total, as of today (November 18), there have been over 286 properties sold in Brambleton!

SINGLE FAMILY HOMES

Fall Market Sales Brambleton
“Townsend” by Gulick Group

The popular “Townsend” style home by the Gulick Group, off of Lois Lane, recently became the highest priced home sold this year, selling for $900,000!

Fall Market Sales JS Realty Brambleton
“Portsmouth” by Van Metre Homes

The beautiful Van Metre Homes “Portsmouth” model home, off of Gentle Falls Drive, came close when it sold for $890,000.

Our current favorite is an active listing off of Christopher Thomas Lane. This property offers a lot for the price and is a must see! With 5,000 sq.ft., this 4 level home boasts 6 bedrooms and 4.5 bathrooms for a mere $649,900.

TOWNHOMES
Brambleton offers such a nice variety of styles when it comes to townhomes and one in particular stands out today. The Delancey model by Miller and Smith – already built, it’s move-in ready! This gorgeous home is waiting for the right buyer, and is listed for $549,990. You have to see the amazing kitchen in person!

Brambleton Fall Market Sales
Legacy Park Drive (Currently Under Contract)

The lowest priced home available today is a 3 bedroom, 2 bath home with a garage! Located just minutes from the Brambleton Golf Course off Settlers Trail Terrace, this charming townhome is listed for only $275,000.

Fall is here, but the Brambleton market is still going strong!

We’re the Brambleton experts! If you’re in the market to buy or sell a home, give us a call! And don’t forget to visit our website for the current list of homes for sale right here in Brambleton!

Home For Sale in Sterling, Virginia

Recently listed for sale in Sterling, Virginia! Located at 316 Hanford Court, this beautiful home is located on a great lot in a cul-de-sac! With wonderful curb appeal and a landscaped yard featuring seasons of color, this home was recently renovated to an open floor plan and is conveniently located near shopping, restaurants, and Routes 7 & 28, and the Dulles Toll Road.Sterling For Sale JSRealty4U

Fresh paint and wide-plank designer hardwood floors can be found throughout and the gourmet kitchen includes breakfast/serving bar, side by side refrigerator with icemaker, two skylights, and granite counters. The living room boasts high vaulted ceilings and skylights and a pellet burning fireplace with a rustic brick hearth.JS Realty Hanford Sterling For Sale

Upstairs the spacious master bedroom features dual master bedroom closets, and sliding glass door that could easily open onto an optional balcony, designer light fixtures and ceiling fans. Two additional bedrooms and a 2nd bathroom with granite counters can be found upstairs as well. A linen closet in the hallway provides a plethora of storage.Hanford Sterling For Sale JSRealty4U

On the lower level of the home, french doors in the family room lead out to a deck overlooking the beautiful trees in the private backyard. Crown molding can be found throughout this level, along with a spacious 4th bedroom and fully upgraded bathroom.

For additional information, download our Hanford Court Listing Brochure.

If you’re interested in viewing this property in person, call Katie at 703-508-6654.

New Listing in Penderbrook Community

This could be your new home! Recently listed for sale in the highly sought-after Fairfax community of Penderbrook, this home includes tons of amenities such as a golf course, multiple pools, clubhouses, fitness centers, and more! Featuring 2 bedrooms and 1 bathroom, this condo is located at 12150 Penderview Terrace #1305 Fairfax, VA.

JS Realty Penderbrook SignThis home is a commuter’s dream! Located close to Routes 28, 29, & 50, I-66, Fairfax County Parkway, Washington-Dulles International Airport, it is also on a bus line serving the metro. Just minutes from shopping, dining, and entertainment at the Fair Oaks Mall, Fair Lakes Shopping Center, and the Fairfax Towne Center!

For Sale Penderbrook Penderview FairfaxThe foyer has a spacious coat closet and laminate wood floors. The spacious kitchen boasts tons of cabinets and countertop space, a huge walk-in pantry, an island with a breakfast bar for extra seating, and recessed lighting.

A large, bright family room features built-in shelving to allow for tons of storage, wood burning fireplace with a stone surround and recessed lighting. The master bedroom boasts plenty of room with a huge walk-in closet and tray Kitchen For Sale Penderbrookceilings. Dual entry walk-in closet has built in shelving and is cleverly situated between the master bathroom and master bedroom. A dual entry master bathroom features an oversized vanity with tons of cabinet and counter top space, shower/tub combo, and access to the washer/dryer. Second Bedroom offers plenty of natural light with a sliding glass door that leads to the private patio.

The spacious patio is perfect for enjoying a morning cup of coffee and is surrounded by plenty of professionally landscaped, beautiful common areas.

For additional information, download our Listing Brochure (#1305)

Contact Sarah Taylor online or call 703-475-1003 to schedule a private showing of this charming condo!