Mortgage rates enticing buyers; Amazon's effect felt; good news for the Chesapeake Bay; and more
- Tim Tassa
- Apr 4, 2019
- 2 min read
It's challenging to keep up with local news, particularly the items that may impact your life, your commute, or your community. That's why each week we compile a few interesting developments happening in the area.
The Washington Post: Will Amazon’s effect on Northern Virginia housing be as feared — or hoped for?
" While the average sales price in Northern Virginia stayed steady at $565,000 in January, according to the Northern Virginia Association of Realtors, the number of homes under contract rose by 70 percent compared with January 2018, and the number of homes for sale fell by 20 percent year-over-year. Limited availability of homes drives prices higher."
Last week, long-term mortgage rates fell by a whopping 22 basis points and that move spurred homebuyers to get moving. On Thursday, Freddie Mac reported 4.08 percent with an average 0.5 point as the average for a 30-year mortgage, a slight uptick from last week's 4.06 percent, but still within the range to get homebuyers off the fence.
"Developer JBG Smith announced Wednesday morning that Amazon has finalized three leases in National Landing totaling 537,000 square feet of office space, as well as finalized the terms for the purchase of two JBG Smith buildings. The online behemoth has also finalized the purchase of JBG Smith’s Pen Place and Met 6, 7 and 8 development sites in Pentagon City for $294 million."
" The new park is a key part in Alexandria's efforts to revitalize the waterfront along the Potomac River. Waterfront Park features an open plaza, waterfront promenade, shady refuges and multi-use space, the city council says."
"There’s good news for the Chesapeake Bay this year. Underwater grasses are at the highest level on record — an important sign of water quality. Blue crabs are being harvested at a sustainable level — meaning there are enough to feed hungry Marylanders while still leaving plenty in the water to reproduce."
Clarendon sports bar Mister Days is closing next week, according to owner Robert E. Lee. Furniture, fixtures, and some equipment were sold Thursday morning to Arlington chef Patrick Crump of the Clarendon Grill, which closed in October after 22 years in business.
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