Jay Hurst

As you have heard - location, location etc. We work with sellers and buyers in Centreville, Vienna and McLean mostly. The Centreville market all but died last year. Now, it is stablizing. But, buyers have a choice of many great areas.
If you have lived in Northern Va for a while, you know that areas farther our from Fairfax were built as "bedroom" communities. This went crazy during the bubble years, and builders overbuilt. Now the market is correcting.

You may say - what the heck? I do not need to hear this. But, you do. Here is how you make the decisions.

First - if you do not need to sell now. DO NOT SELL.The area needs about three more years before the values work themselves out.
Second - if you do need to sell. Do the math on your Equity. Go back to the values in about 2003. We could help you price it. That is you MOST important task. Pricing. If you have great equity - move fast, the loans may dry up.
Third - if you determine you have the equity to list the home, then you will need to make sure the kitchen and baths are current styles. This is a must. No wiggle room here. ( linoleum is a bad word these days - 12 inch tile is better )
Let us know if you need our help.
Jay - Mon Sep 29 2008, 17:43

Fair Chase only has two units left before they are sold out. There are not that many new homes for sale in Fairfax, and even fewer for under $500k. Integrity is a small builder so not much is out there about their construction methods. I good buyer's agent can help you with a detailed walk-through of the homes.
Chances are you will not get a critical eye from the on-site builder's agent. Let us know if you need our help, and good luck! - Thu Aug 21 2008, 06:41

Wiki has a good answer. It tracks back to English Law, as do most of our land rules in the USA.
Really the time of kings and the granting of land. It comes from Freehold land grants.

Today, most buyers only see this when buying something with land. Like a townhouse or single family home.
Condos share the land, so they are not Fee Simple.

JH - Wed May 14 2008, 19:30

All good answers - I do a lot of business in Centreville, and yes, this is an area with plenty of short-sales and bank owned ( REO) properties. Most of what I pulled up were REO. Cindy's explanation is a good one - of course she dangles the carrot. But, there are some good deals to be had, and Centreville is a great place to live. If you have never done this before, a good agent can help. In most cases, there is not a lot of commission in it for us agents. These are not "Normal" sales, so things go wrong and it may take some time. - Thu Apr 17 2008, 06:16

You might want to consider the Dunn Loring area also. There are more in that price range, and with the new Merrifield redevelopment, you will have new homes to look at also. We have a few to show.
Good luck with your search! - Tue Apr 15 2008, 07:53