June 2005 Article History

There are 7 articles published in June 2005. Here are the first 20:

1994 Chateau Latour Loudoun Home Sale History Northern VA Home Sales Raspberry Falls | Leesburg Home Prices and ARMS Collide This Just In: Seller Testimonial Old Dominion Parrotheads

You will find a complete Index of Articles by Category in the History Archives.

June 26, 2005

Pam and I had the privilege of attending "Rockin' in the Barn" at Bud Green's farm last night. It was a fund raising event for the Loudoun Habitat for Humanity. We combined good food, entertainment, a silent auction and live auction.


Many exquisite items were auctioned including a case of the 1994 Grand Vin of Chateau Latour. Several bottles were purchased in the $170 range, a bargain for this highly rated Bordeaux from the highly acclaimed Pauillac region of France. Latour is a consistent winner in this class of fine wines and probably deserves its price point.

I happened to have a couple of bottles and with grilled New York steaks tonight decided to try one. Without a doubt, it is superb! It is like drinking silk; smooth, balanced, just enough fruit without being over bearing and the typical French terrior! Can you imagine combining the great wine taste pallets and add rocky soil? Well, you can. This is what makes Grand Vin French wines so intriguing.

Parker rated this wine 94 on a scale of 100 and predicts it will cellar for at least 30-40 years. I'll try my other bottle in about five years. I can't wait!

Viniously Yours,
The Wine Snob

You can learn more about Latour here.

1994 Latour

The weather conditions

A rainy and very mild winter was followed by a very warm and dry month of March which induced an early budding (15 March for the Merlot). On 16 April, a severe frost damaged neighbouring vineyards. A very hot end of April, a mild and damp month of May brought about an early flowering (10 days earlier than normal). June and July were very warm with some stormy showers, ideal conditions for the evolution of the grapes. The traditional summer pruning took place in the second half of July. At the end of August the state of the grapes was fantastic and an exceptional vintage was expected. Unfortunately, from 7 September, a rainy and cold weather settled in, delaying ripening.

Harvest began on 13 September and lasted until the 29th, frequently interrupted by storm showers. But quite amazingly the dilution effect on the grapes was very limited, and thanks to a perfect summer, the vintage was 'saved'.

Vintage quality and tasting comments

The wines are showing a strong personnality : dark ruby colours, aromas of liquorice, orange peel and plum. They improved remarkably in barrels taking body and fatness. In the mouth they are very rich, and despite the very savoury and spicy tannins, they remain rich and very well-balanced. The Grand Vin, in particular, shows an impressive concentration and length. (tasting : May 2000)

Quality: Very good year

The moment for optimal drinking and best way of serving

Grand Vin: A bottle to lay down at least till 2007. Optimum around 2010-2015.

Comment on 1994 Chateau Latour. Follow this article is off. More articles like this one filed in: Fruit of the Vine , Habitat for Humanity

June 24, 2005

Ran across these stats from the Dulles Area Association of REALTORS®. Can anyone remember a home sale taking 144 days? Everything is relative. Today, sellers fret over a couple of weeks to get a contract! Times will change. When?

Loudoun County ANNUAL Sales Statistics
Year	Residential Units Sold	Average Sales Price	Median Price	Average Sales Price As % of List Price	Average Days on Market
1980	449	$88,817	n/a	n/a	n/a
1981	359	$105,449	n/a	n/a	n/a
1982	323	$92,753	n/a	n/a	n/a
1983	411	$105,757	n/a	n/a	n/a
1984	876	$98,103	n/a	n/a	n/a
1985	1,112	$106,507	n/a	n/a	n/a
1986	1,394	$117,896	n/a	n/a	n/a
1987	2,089	$139,592	n/a	n/a	n/a
1988	1,629	$153,200	$131,600	n/a	n/a
1989	1,076	$181,800	$147,000	n/a	n/a
1990	1,324	$170,100	$149,500	n/a	n/a
1991	1,181	$178,100	$150,000	n/a	n/a
1992	1,366	$174,300	$154,000	n/a	n/a
1993	1,522	$175,200	$154,900	n/a	n/a
1994	1,699	$181,600	$155,000	n/a	n/a
1995	1,738	$186,800	$162,600	n/a	n/a
1996	1,970	$202,905	$172,900	n/a	n/a
1997	2,354	$202,166	$176,900	n/a	144
1998	2,995	$215,192	$183,000	n/a	142
1999	3,855	$225,228	$189,000	97.70%	71
2000	5,019	$251,703	$209,000	98.86%	34
2001	6,179	$278,333	$251,644	98.04%	32
2002	6,735	$308,684	$269,000	98.07%	39
2003	8,255	$351,301	$309,900	98.53%	31
2004	9,381	$437,975	$390,000	99.33%	22

Comment on Loudoun Home Sale History. Follow this article is off. More articles like this one filed in: Loudoun County Market News

The Washington Post is reporting that home sales slow a bit but are second-highest on record.

Averages show price appreciation in the 12% range just since January of this year. Is housing still affordable? You be the judge.

In Loudoun County, prices are still rising and home sales are brisk. But, instead of days on the market, some segments are taking a few weeks. Here are the averages according to the Dulles Association of REALTORS®...

2005 Loudoun County Monthly Sales Statistics
Month	Residential Units Sold	Average Sales Price	Median Price	Average Days on Market	Active Listings	New Listings This Month	New Pendings This Month	Average S/P as a Percentage of L/P
January	508	$469,168	$419,900	31	714	439	557	98.69%
February	485	$462,467	$429,000	30	908	720	678	99.15%
March	698	$501,491	$450,500	24	930	1007	808	99.84%
April	760	$525,525	$470,000	23	1259	1298	898	99.67%
May
June
July
August
September
October
November
December
Metropolitan Regional Information Systems, Inc.   ::    Last Updated on 05/16/2005

Comment on Northern VA Home Sales. Follow this article is off. More articles like this one filed in: Market Conditions (with charts)

June 21, 2005

SOLD A beautiful property in the highly sought after Raspberry Falls neighborhood! Close in to Leesburg.

Van Metre Bedford Model Colonial on 1.3 acres: 3 finished levels, 4 bedrooms with sitting room or nursery off master suite, 2 full, 2 half baths, full finished basement with recreation room, bar, media room and exercise room. Upgrades galore featuring a gourmet kitchen with Miele appliances and granite countertops. Over 4,100 square feet of living space. Vaulted ceiling family room with fireplace. Large lot at 1.3 acres and over 2 acres of open space behind the lot. Watch all the wildlife while relaxing on the large deck. Herds of deer, red fox, geese in the spring and cardinals in the trees of the mature, professionally landscaped yard.

Offered at $725,000 among $1,000,000 plus homes. A steal at this price!

You have to see this one. Call 703-431-2145 for more information!

MLS #LO5291303. Find the Visual Tour here. Find it on myGoogle Maps here.

Read about this unique community here. Raspberry Falls | Leesburg, VA

Comment on Raspberry Falls | Leesburg. Follow this article is off. More articles like this one filed in: Featured Properties

June 20, 2005

High Prices, Risky Mortgages

The average sales price for a single-family home in Loudoun County has now topped $650,000, making home ownership an even more remote dream for workers in the service industry.

Adjustible rate mortgages work well if interest rates stay low, as they have for the last five years.

As reported in the Loundoun Connection June 14, 2005. When is a home a home and when is it just an investment? We're seeing more and more new construction homes being purchased for pure speculative purposes. Buy now, little investment, flip!

Last year the DC Metro region added over 64,000 new jobs. Based on 1 1/2 workers per home, the region needed to add over 42,000 new units just to match the job growth. Actually, only 27,000 new homes were added - a 15,000 home shortfall.

We believe that as the region continues to have substantial job growth demand will out strip supply and prices will continue to rise. There will become a point when employers will not be able to attract job seekers because of the high cost of home ownership and general cost of living and the situation will somewhat stabilize. Employers will also consider relocating operations elsewhere in lower cost geographic areas.

ARMS and "interest only" loan programs are attractive. In this environment it may be the only way to afford to live here. There is a point however, that the piper will eventually be paid! Interest only is not and should not be the vehicle for many people. Here's is our advice:

• Seriously evaluate how long you may live in your home. If you are reasonably certain you will be moving on in 3 to 5 years then interest only ARMS may be a good option.
• If you have a lot of equity built up in a home and you just want the added benefit of lower payments (and more positive cash flow) then refinancing with an interest only loan may be the right financial vehicle. But, at the end of the fixed payment period (3 to 7 years) plan on paying the higher price! Interest rates are on the way up and we should assume for planning purposes they will continue to rise even if moderately for the next few years. Then, of course, no one has a crystal ball to know for sure.
• If you are considering buying or refinancing, interview 3 to 4 reputable lenders or mortgage brokers that give good advice. Be wary of the internet loan sharks. You want local, personal service with someone you can grow to trust that will give you good advice based on your financial circumstances and short and long range goals.

An attractive "interest only" loan today may turn out to be your worst nightmare in the future.

Comment on Home Prices and ARMS Collide. Follow this article is off. More articles like this one filed in: Market Conditions (with charts)

June 17, 2005

Potomac Lakes, Virginia

Dear Merv and Pam,
Now that things have slowed down a bit and we are settling into our new home, I want to thank you for your superior performance in assisting us selling our home. We could not have made it through this process with out you. We had lived in our home for almost 13 years and were out of touch with the new processes and procedures of selling a home. Your attention to detail and patience through some tense and stressful situations are second to none. Your never ending list of professional resources that assisted with the house preparation was invaluable. It is very rare to run into real estate agents with your level of integrity. Not only do we feel that we have built a strong business relationship, we feel we have made life long friends that will be valued as such from here forward.

THANK YOU!!

John McCarthy
Senior Sales Engineer
Performance Telecom, Inc

Thanks for the note John!
John and Lin McCarthy sold their home in Potomac Lakes, VA and moved to Florida for a new job opportunity. The McCarthy's used our SmartSeller™ program and we were under contract in just 13 days and closed in 30 days.

The great thing about this business is the creation of professional and personal relationships in addition to satisfied clients.

Comment on This Just In: Seller Testimonial. Follow this article is off. More articles like this one filed in: Featured Clients

June 13, 2005

Ran across this sign on the way to a listing. What the heck is a Parrot Head?

Read on...

Now I know! A Jimmy Buffet fan club. One of my all time favorite hits is Margaritaville! Notice the Parrot Head citation on the Virginia sign with a Cardinal...

Comment on Old Dominion Parrotheads. Follow this article is off. More articles like this one filed in: Signs , Simple Worldy Pleasures