Northern Virginia Real Estate
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Smart Growth In Virginia
Submitted by Steve on Tue, 2006-01-24 15:51."Virginia Gov. Timothy M. Kaine (D)this week proposed controls on growth and development in Virginia. To slow urban sprawl and relieve traffic congestion, the new governor intends to introduce legislation that, for the first time in Virginia, would empower county and municipal governments to block residential development if transportation network capacity is deemed inadequate. Many landowners and home builders in Virginia, a strong property-rights state, consider this proposed policy radical, perhaps even immoral. But many residents welcome it." As every resident of the Northern Virginia area already know, traffic is one of the major problems facing our area.
What factors indicate a stable housing market
Submitted by Steve on Tue, 2006-01-24 16:09."High quality of life. The Northern Virginia and DC area is a major metro market comparable to New York and San Francisco with a high quality of life and great amenities. Our housing prices are similar to those other "world class" cities with "world class" amenities. That is a less quantifiable impact, but one that could be occurring over the next several years.
Booming job market. The DC job market is booming. If for some reason that we don't foresee jobs were to be lost, then that could pose some risk of too many people wanting to sell in relation to buyers.
Land use and development. In many southern cities like Raleigh, Durham, and Atlanta, people live and work in the suburbs. But in DC, many people work in a core downtown area due to the federal government and plethora of government-related jobs. It's beneficial to live closer-in to reduce commute time.
HOME COSTS RESHAPE RACIAL LOOK IN NORTHERN VIRGINIA, DC
Submitted by Steve on Tue, 2006-01-24 16:16.The number of white residents in Northern Virginia and Washington, D.C., rose between 2000 and 2004 due to the robust job market and strong housing demand, U.S. Census data show. That trend is helping to reshape the makeup of the region.
Whites now make up 64 percent of residents in Arlington County and 58 percent of those residing in Alexandria. In Washington, D.C., the white population climbed to 30 percent from 28 percent during the four-year period. Meanwhile, soaring home prices are forcing many African-American and Hispanic residents farther out into the suburbs.
Many minority families may be getting priced out of the District market at the same time the District is getting more attractive to a wider variety of families, remarks Urban Institute researcher Margery Austin Turner. However, Turner believes that the presence of more affluent residents will give the nations capital the resources it needs to improve affordability and diversity.
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