Historical Alexandria, Virginia, a popular suburb of Washington D.C., is best known for its "Old Town," an 18th century seaport and favorite haunt of George Washington, say local Realtors.
"Old homes and newer condominiums in Old Town are extremely expensive due to the colonial atmosphere," says Realtor Karen Kruschka. "The Landmark area at the western end of the city is the location where you will find mid and high rise condominiums. The center of the city has everything from 50-year-old duplexes to extremely expensive single family homes. Commuting from Alexandria is exceptionally easy due to numerous Metro stops and short driving time to the District. Any new construction is usually high-priced, high- rise condominiums. Alexandria appeals to those who prefer "in-town" living."
Realtor Polly Shaw further explains Alexandria's unique appeal.
"Alexandria is an historic city founded in 1749 by Scottish settlers," says Shaw. "Its Old Town area has many historic properties that reflect the history of the city's 18th and 19th century past. There is an abundance of shops, restaurants and galleries and the waterfront marina is a local gathering spot. Old Town also contains many newer properties, mostly townhouses and a few condominiums which offer a diverse housing supply for varied tastes. The city's west end has a large new housing development at Cameron Station, the new main city library, many high-rise condos, and an upscale shopping mall. The
city's Del Ray area is home to many who are finding its unique 50-70 year old homes a perfect spot for exercising the handyman's desire for a fixer-upper. Del Ray's "main street," Mt. Vernon Avenue, has a burgeoning commercial district with good restaurants, coffee houses (no Starbucks) and various types of shops. For the more traditional neighborhoods of single family houses there are subdivisions such as Braddock Heights, Beverley Hills and Rosemont."
She adds, "Alexandria offers many transportation benefits: four metro (subway) stations, a commuter rail station and proximity to Rt. 1, Rt. 395 and the Capitol Beltway and a 10-minute drive to downtown Washington DC. Its local bus service connects to the subway stations."
Explains Realtor Casey O'Neal, "While strong demand and low supply have been in effect for the last three years, September was a transition month. More homes came on the market in September and now in early October there are more choices available than there were a few months ago. Low interest rates have been a real bonus for home buyers.
"The hottest segment of the market is with single family homes priced under $300,000, selling quicker because of affordability. Townhouses are popular in the $200,000 to $300,000 range and Condos are also doing well in the $100,000 to $200,000 range. Single family homes under $400,000 are desirable for first-time and move up buyers. Buyers are more picky in the higher price brackets, while homes with close proximity to the subway are more desirable.
"Multiple offers are less frequent now than in the 1st half of this year. Because of the change in the market, some homes are currently overpriced. It is critical for a buyer and seller to be represented by a professional who can analyze and recommend strategies to negotiate the best contract."
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Published: October 31, 2002
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