Great Falls, VA is a Great Place to Live!

by Karen Briscoe
March 28, 2013

The Washington Post real estate section on March 13, 2013 identified a few communities in the metro area where Purchasers can still find good values.  Great Falls, Virginia was one of the communities profiled.  One of the primary reasons that Great Falls was selected is that the median sales price was down from $1,010,000 in 2011 to $961,250 in 2012, a 4.8% drop.  However, total sales were up 8% year over year from 195 to 210.  The ratio of sales price to original list price was 93.1% in that time frame.  The market is trending from a Buyer’s market to a Seller’s market as days on market went down from 73 in 2011 to 62 in 2012.  The link to the Washington Post article:  http://articles.washingtonpost.com/2013-03-15/news/37729950_1_great-falls-attraction-home-values

 

Great Falls, Virginia is an affluent community, ranked as the top earning town in the United States in 2011 by CNN Money.  One of the reasons for the affluence in Great Falls is that there are no apartments, condominiums or townhouses.  The smallest lot size is a quarter acre, and the majority of homes are built on 2-5 acre parcels.  Further most of Great Falls is on private septic systems and well and without public utilities it is difficult to obtain greater density.  The community feeds into the highly regarded Langley High School, which is consistently ranked in the top tier on the U.S. News Education Gold Medal List.

 

It is advantageous in my experience to own real estate in an area such as Great Falls which is highly populated with upper bracket home-owners.  A strong argument for doing is the halo effect.  By being surrounded by higher valued properties, it brings up the entire neighborhood.  Homeowners with financial means tend to continuously improve their property, expending funds not only on ongoing maintenance but also on landscaping, remodeling and constant upgrading.  These owners are usually current on paying their property taxes and homeowner’s association dues, contributing to the strength of the neighborhoods.  Home owners who invest in their property also typically invest in their community.  For example, the Great Falls community lobbied for a new library, which was built in 2000.  Recently a fabulous new state of the art firehouse was completed.

 

The community has a strong newcomers group and events at the Village Centre which contributes to the small town atmosphere in the midst of a large metropolitan area.  Opportunities abound in a community of high rollers.  The newly formed Great Falls Rotary was honored to have Supreme Court Justice Antonin Scalia as the speaker for their inaugural meeting.  The Great Falls Elementary School offers the highly regarded Japanese Partial Immersion Program.

 

The Huckaby Briscoe Conroy Realty Group is intimately familiar with what makes Great Falls great.  Whether looking to buy or sell in the area, Karen Briscoe and Lizzy Conroy would be delighted to be of assistance.  Please contact via the means most convenient for you:  www.HBCRealtyGroup.com, 703-734-0192, Homes@HBCRealtyGroup.com.

Karen Briscoe is Principal of the Huckaby Briscoe Conroy Group (HBC) and author of "Real Estate Success in 5 Minutes a Day". She is an Associate Broker in Virginia, a Certified Luxury Home Market Specialist, and a member of the Women’s Council of Realtors. Karen began her real estate career developing residential lots with the Trammel Crow Company in Dallas, and in commercial real estate with The Staubach Company in the Washington, DC Metro area. Karen has a Masters Degree from Southern Methodist University and her BA from Stephens College in Columbia, Missouri – her hometown.
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