New to Leesburg’s Crescent Place

In the heart of old town Leesburg, there is an area I call the “triangle” contained by Catoctin Circle, East Market St and South King St.  The Crescent Place neighborhood, located off Harrison St. in the middle of the triangle and alongside the Washington & Old Dominion Trail, is a result of the redevelopment of the old abandoned window factory.  Walkable to the Leesburg Farmer’s Market and a number of long established restaurants and shops, it has been a great new addition while enhancing the character of the neighborhood.

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The Shops at Crescent Place are Fully Leased

The townhouses and condos in Crescent Place give residents the option to live in a walkable and thriving part of Leesburg. While new construction is sold out, there are some resale and rent opportunities in the neighborhood. Now that the residential construction is wrapping up, it’s time to focus on the new retail tenants in The Shops at Crescent Place.

Early retail tenants included boutiques Studio Twenty8Fifty7 and  Best Rack Around.

A great addition for those enjoying the nearby W&OD trail is Transition Triathlon. Recognized as one of the best triathlon stores in the Mid-Atlantic region, don’t be intimidated if you aren’t training for your next IronMan – they have gear for most athletes, offer clinics, and can handle bike repairs too.

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Portside’s The Nutcracker and Salted Caramel White Mocha 

In recent months they have been joined by local coffee and pastry shop Portside Coffee where you can sample tasty seasonal treats, catch live music and even admire cool cars.

About Michelle

I am a REALTOR in Northern Virginia and a 14 year resident (and cheerleader) of Loudoun County.  I take the time to get to know each unique client and community and they benefit from my unrivaled neighborhood knowledge. By bringing my personal touch, straight forward style and proactive marketing plan to the buying and selling process, I provide exceptional results to clients whether they are in Ashburn, Aldie, Broadlands, Leesburg, Purcellville, Potomac Falls, Reston or beyond (I can find you a great agent anywhere in the U.S, just ask!).

 

Coming to Broadlands

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An established community in Ashburn, the Broadlands neighborhood continues to see change and additions to the various amenities and retail options offered to the community.

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Future Aldi Location

 

Last year’s closure of the Safeway grocery store left a hole in the Broadlands’ Village Center – literally.  It didn’t take long for German grocer ALDI to come in and lease half the space and construction is underway for their move in. The tenant for the remaining space is still TBD.

Seems like a theme because just a couple of months later it was announced that another German grocer, Lidl, will be moving in just across Claiborne Pkwy where construction is also happening and Van Metre Homes recently built their new design center offices.

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The structure is taking shape for Lidl

Also coming to that corner of Claiborne Pkwy and Broadlands Blvd is a new Royal Farms gas station.  While another gas option is probably welcome, it seems like more folks are excited about the fried chicken.  This is the first Royal Farms in Loudoun County so we will see if folks here get as excited about the chicken as they do in Maryland!

While still not confirmed, word has it the Starbucks on the corner of the Broadlands Village Center will be moving out to the freestanding space where the Safeway gas station was.  This would provide a larger space and a drive-thru option. Stay tuned on that one.

About Michelle
I am a REALTOR in Northern Virginia and a 14 year resident (and cheerleader) of Loudoun County.  I take the time to get to know each unique client and community and they benefit from my unrivaled neighborhood knowledge. By bringing my personal touch, straight forward style and proactive marketing plan to the buying and selling process, I provide exceptional results to clients whether they are in Ashburn, Aldie, Broadlands, Leesburg, Purcellville, Potomac Falls, Reston or beyond (I can find you a great agent anywhere in the U.S, just ask!).

Coming to Ashburn Station (South)

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Ashburn Station Under Construction (Aug 2017)

Last week I told you about what is planned for the land on the North side of the Ashburn Station – which is easier to envision because much of the development is already underway.  The large open space on the South side of the Dulles Greenway however requires a bit more imagination and is perhaps the biggest opportunity for unique tax generating development Loudoun will have near metro.

Moorefield Station

The majority of the land is owned and being developed by the Claude Moore Foundation into what is known as Moorefield Station.  As the market demand can support it, individual sections of the larger plan are being built out by for-profit developers according to the Foundation’s plans.

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Moorefield Station’s Development Plan

A mixed-use and pedestrian friendly development, there will be significant residential, office and retail space including a Town Square, Public Rec Center and a lake.

The plans show when Moorefield Station is complete, it will include more than 6,000 residences – a blend of townhomes, multi-family and single family homes.

The Westmoore townhome development (shown in pink on the plan) is currently under constructions and will consist of nearly 600 urban style townhomes upon completion. Built by Ryan Homes and NV Homes, base prices currently begin in the Mid to upper $500,000s

Visit here for an always up to date list of homes for sale near the future Ashburn Station on the South side of the Dulles Greenway.

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Westmoore Under Construction

Moorefield Station will also include more than 200,000 Sq Ft of retail space including a town center with shops and restaurants. While no retailers have signed on yet, the marketing for those spaces is expected to get underway later this year.

Moorefield Village

Just West and around the corner  from Moorefield Station is the Residences and Shops at Moorefield Village. Already open they include apartments, condos, a Harris Teeter grocery store and some retail retail spaces.

 

About Michelle
I am a REALTOR in Northern Virginia and a 14 year resident (and cheerleader) of Loudoun County.  I take the time to get to know each unique client and community and they benefit from my unrivaled neighborhood knowledge. By bringing my personal touch, straight forward style and proactive marketing plan to the buying and selling process, I provide exceptional results to clients whether they are in Ashburn, Aldie, Broadlands, Leesburg, Purcellville, Herndon, Reston or beyond (I can find you a great agent anywhere in the U.S!).

Sellers: Why FSBO Costs You

Selling your home on your own, especially in a hot market, might seem like a great way to save some money.  At the end of the day, the couple/few percent of your total sales price that you “save” really does cost you and adds stress to the process of selling your home you could have avoided.  When it comes down to it, FSBO properties just get lower and fewer offers resulting in a lower sales price.

fsbos-02Not to mention the expertise in negotiations and contracts that a Realtor brings to the table and those are often hard to put a dollar value on.  My advice – don’t mess around with what is likely your biggest investment.  Hire a professional and walk away with more money.  Now that is a win-win!

How President Trump May Impact the Housing Market

Orginally posted by Inman, a trusted real estate industry resource, I wanted to share this excellent piece on what might happen in real estate under President Trump.

BYTHOMAS MITCHELL Inman STAFF WRITER

Political pundits around the country were stunned last night when Donald Trump secured enough to votes to beat Hillary Clinton to become the next President of the United States. While supporters from both sides are still reeling from emotions, we woke up wondering what that would mean for real estate.

It’s common for the president to use housing as a vehicle to lead economic recovery, and with Trump being a licensed broker, real estate professionals have been keen to see how his policies would affect them.

“The last time we had real estate dealmakers as U.S. Presidents were founding fathers Thomas Jefferson and George Washington, who loved their property holdings and made sure the U.S. Constitution protected them,” Inman publisher Brad Inman wrote earlier this year. “That was a big deal.”

How will an impending Trump presidency change the real estate market? Here are eight possible outcomes.

Will he use real estate to kickstart the economy?

Trump has used real estate himself as an investment, and although he hasn’t said much about his housing platform, what he has said indicates that he’s interested in boosting homeownership.

Much of Trump’s platform has centered around deregulating the financial market in order to more fully revive it, and that alone could also give a boost to real estate.

What will happen to mortgage rates?

Many different factors affect mortgage rates — they change each day based on what the market is doing — and last night, we saw a little bit of market panic, which can be expected due to an unforeseen event (most polls showed a Clinton win).

However, as of this morning, they have already bounced back a bit.

A similar effect was seen post-Brexit, with markets dropping after the unexpected vote to leave the European Union, but a few months later, it’s business as usual again.

The international economy also has an effect on the exchange rate, and there could be some disturbance as the result of an unforeseen event.

“Mortgage rates are falling because investors are seeing safe yields in U.S. mortgage backed securities, reflecting their confidence in the relative safety of the U.S. housing market,” wrote Trulia chief economist Ralph McLaughlin this morning in a statement. “Furthermore, the Fed is likely to delay a December rate hike because of global economic turmoil. Both effects mean short term win for borrowers, and we’ll likely see an increase in mortgage refinancing if rates continue to plummet.”

Could it become easier to borrow money?

One way that a Trump presidency could make it easier for consumers to own homes would be to lower premiums for FHA loans or cutting guarantee fees for Fannie Mae or Freddie Mac.

Neither of those have been specifically mentioned as priorities for his campaign — and Fannie and Freddie present their own problem, as seen below.

Will there be cutbacks in federal programs?

In the 1980s, Ronald Reagan cut back on many federal programs (such as mental health care) in order to trim the national budget.

Some programs, such as those involving affordable housing, might have more of an effect on real estate than others, but Trump has not indicated which programs he would be most likely to target for cutbacks.

“While local and state policies are likely to be unaffected, major programs — such as the Low Income Housing Tax Credit and Section 8 housing vouchers — could be on the table for reform,” said McLaughlin.

What about regulations?

This is something that Trump — and the Republican party as a whole — has been vocal about.

Banking regulations

In July, the party approved its 2016 platform. That platform includes significant changes to the Consumer Financial Protection Bureau (CFPB), and there has been talk of repealing the Dodd-Frank Act, which imposed regulations on lenders, and replacing it and the CFPB with something else.

Loosening regulation on lending could potentially boost homeownership by making it easier for consumers to obtain loans.

Building regulations

In August, Trump also told a meeting of the National Association of Home Builders, “There’s no industry, other than probably the energy industry, that is more overregulated than the housing industry … Twenty-five percent of costs to build a house are regulations. I think we should get that down to 2 percent.”

If construction is deregulated to some extent, this could mean more affordable homes for consumers.

Employer/independent contractor regulations

What happens to the Patient Protection and Affordable Care Act (PPACA, also known as Obamacare) and Occupational Safety and Health Administration regulations is up in the air now.

And if Republicans are successful in getting rid of some or all of PPACA or OSHA, then that could mean lower operating costs for small business, including real estate brokerages. It could also mean that agents are no longer required to purchase their own health insurance as independent contractors if PPACA is repealed or amended.

Will the mortgage interest deduction go away?

Last year, a tax plan that Trump shared specifically and explicitly mentioned that he would preserve the mortgage interest deduction.

Trump’s current plan (more abbreviated than the previous version) does not go into detail about the mortgage interest deduction.

Will there be reforms at Fannie Mae or Freddie Mac?

Fannie Mae and Freddie Mac, two government-sponsored enterprises (GSEs), are currently under government conservatorship — and although figuring out what to do with the behemoths is bound to be difficult, it’s also likely to fall into Trump’s lap.

The GSEs are projected to run out of funds in 2018, so if we don’t have a plan by the time that happens, we’ll need one.

What about immigration?

This is a big unknown — if Trump does, indeed, tighten immigration policies as outlined in his platform, then the United States could see some softening in markets that rely heavily on overseas investors, who might face additional difficulties or hurdles in purchasing property.

However, Trump’s immigration policy has undergone many changes since he first announced his candidacy, and immigration reform won’t be an easy bill to push through, so it’s difficult to determine whether this will influence the real estate market to any large degree.