Mortgage rates remain at multiyear lows; prices soar near HQ2; Ballston Quarter reviewed; and more
- Tim Tassa
- Aug 16, 2019
- 3 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: Mortgage rates level off at multiyear lows as investors stay away from mortgage-backed securities
"According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average was unchanged at 3.60 percent with an average 0.5 point. (Points are fees paid to a lender equal to 1 percent of the loan amount and are in addition to the interest rate.) It was 4.53 percent a year ago."
Alexandria Living Magazine: Alexandria Real Estate: Quick Sales, Motivated Buyers
"Homes are selling much faster in Alexandria this summer compared to last year, but there are fewer homes for sale, according to data from the Northern Virginia Association of Realtors."
"Plans have been filed with Arlington County to redevelop the Ames Center at 1820 North Fort Myer Drive (map) into two residential towers that will bring almost 800 new residential units to this section of Northern Virginia. Snell Properties would demolish the 12-story office building and then construct two towering residential buildings at the site: a 31-story tower with 424 units and a 30-story tower with 364 units. There will be 8,000 square feet of retail space on the ground level."
GreaterGreaterWashington: Metro Reasons: VRE plans to revamp the Alexandria station without a new pedestrian tunnel
"The Virginia Railway Express’s plan to add a new pedestrian tunnel between its Alexandria station and the adjacent King Street Metro station has been put on hold, according to documents from VRE and the Northern Virginia Transportation Authority. VRE still plans to make other updates to the station, like making it easier and safer for people to access the platforms."
Washington Business Journal: Housing Index: July home prices near Amazon HQ2 soar to highest levels in a decade
"The median sale prices for all home types in the 22202 ZIP code, where Amazon is building and staffing up HQ2, was $995,000 in July — the highest for any month in a decade — according to data provided by MarketStats by ShowingTime based on listing activity from Bright MLS. It's a 72% jump from June, when median sales were at $615,000, and a 25% year-over-year increase."
The Washington Post: A food hall that has everything, including an everything bagel doughnut
"As I glide silently down the escalator, past a radiant mural of flowers in full bloom and produce fresh off the vine, I’m mentally reviewing the food vendors at the Ballston Quarter Market and stressing over which ones I have yet to visit."
GreaterGreaterWashington: Tysons wants to transform into a bona-fide city. It won’t be easy.
"What would you do if you were tasked with doubling the number of jobs and raising the number of residents from about 14,000 people to 100,000 in a city? Plus you need to add 113 million square feet of new construction (for reference, Tysons mall is two million square feet). And that city needs to be a bustling urban center at all hours, complete with a walkable street grid, bike paths, and more—all by 2050."
Alexandria Living Magazine: KidCreate Studio to Open in Alexandria
"Alexandria resident Diane Greenbaum is planning to open an art studio for children called KidCreate Studio. KidCreate Studio has art studios in nine states nationwide -- Virginia will be the 10th, and Alexandria will be the first location in Virginia. Greenbaum is still in the process of securing a lease for the Alexandria KidCreate Studio."
"Shirlington’s annual pet-friendly street festival “Wags n’ Whiskers” is returning next week. The 12th annual pet expo is popping back up on Campbell Avenue next Saturday, August 24 from 10 a.m. to 4 p.m., outside the Village at Shirlington, and usually draws hundreds of attendees. This year’s festival will feature adoptable pets, live music, and activities like face-painting and balloon art."
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