Real Estate Services for Great Falls, McLean and Surrounding Communities

Great Falls Virginia Real Estate

It’s no secret that the Great Falls Virginia housing market is tilted in favor of the buyers, just as it is everywhere else across the country. However, Great Falls homes have held their value better than properties in other suburban areas. If you are thinking of buying Northern Virginia property, this might be a once-in-a-lifetime buying opportunity. The Great Falls MLS inventory is broad and eclectic, yet is mostly upscale in character. If you drive through this area, you will note that the landscape is dominated by large brick colonials, most of them with acreage. You will also note that there are “For Sale” signs in front of many Great Falls homes. The recent “credit crunch” accounts for the availability of many of these listings. Jumbo loan underwriting became tough, and rates were higher than conventional loans.

All of this is changing. Larger loans are becoming easier to obtain, and the jumbo loan rates are moving closer to those of conventional financing. Lender mediated (bank-owned and short-sale) listings are selling; banks are more and more willing to negotiate with buyers, and savvy investors are scooping these Great Falls homes up at a good stiff clip. Interest rates could hardly get any lower, but as they start to rise, potential homebuyers who have been “sitting on the fence” will jump off, as they always do. New home construction continues. Bottled-up demand for housing is starting to leak out. Combine low but rising rates, good prices and good inventory, and you just might find yourself in the middle of a Great Falls home buyer feeding frenzy. Consider buying a home now, while the conditions are ideal. Don’t make the classic investor’s mistake of waiting until prices go up.

What drives the Great Falls Virginia real estate market? Why is it so resilient compared to other markets? The citizens and community leaders of Great Falls are resolute about maintaining the rural, low-density, high-brow character of this area. CNN Money cited Great Falls Virginia as one of the top 25 earning cities in the United States. Many of the Beltway’s top movers and shakers live here. Undoubtedly, the location of Great Falls is another large factor. Own a home in Great Falls, and you have easy access to all points in the Arlington-Washington metro area.

Then and Now

Great Falls real estate has always been an object of interest and demand. In the early 1600’s, Captain John Smith of Jamestown led a group of men up the Potomac to the area of Great Falls. Land ownership disputes between England and the Colony of Virginia delayed any settlement of the area until the mid-1700’s when Lord Fairfax of England was awarded the land and he traveled from England back to the Great Falls area.

During the Civil War, Great Falls was not a site for any major battles. It was, however, a place where troops from both the North and South marched through to the battles of Antietam and Gettysburg. As the troops went through the area, there were clashes and incidents involving John Singleton Mosby, the legendary “Gray Ghost of the Confederacy.”

Great Falls Park is the major attraction of this area. It overlooks the Great Falls of the Potomac River, for which the park and community are named. The Potomac River rushes through Great Falls over steep, jagged rocks and flows through the narrow Mather Gorge and roars to a drop of 42 feet at the Falls. The upper Potomac River is 143 feet above tidewater and ends at sea level after the falls. The Patowmack Canal was constructed under the supervision of George Washington, at the end of the 18th century. The project generated activity around Great Falls and was a massive engineering effort – a  project that was an important economic stimulus for the time, which helped for a stronger union of the  states. The canal was never commercially viable, but the remnants of the canal and a village are still visible in Great Falls Park. While surveying the route of the canal, General Washington lived in the Dickey House, which still stands today. The rear of the house shows ruins of the old jail and remnants of an old mill and foundry remain.

Today, Great Falls, located in Fairfax County, is  an affluent bedroom community for the Washington-Arlington metro area. The close proximity to Washington, D.C. allows for an easy commute for work and play in the Nation’s Capitol and is close to sites such as Arlington National Cemetery, the White House, Harpers Ferry National Historical Park, Clara Barton House, Fords Theatre, Mount Vernon, Lincoln Memorial, the Pentagon and the Jefferson Memorial.

Great Falls Homes for Sale

Great Falls is a small but popular suburban community, 20 miles outside of downtown Washington, D.C. A generally affluent area, Great Falls real estate boasts grand Georgian and traditional American colonials as well as more affordable split- and bi-levels in pleasant neighborhoods bounded by the Potomac River and Route 7 on the north and south, the town of McLean to the east, and Loudoun County to the west.

Great Falls has 8,549 residents as of the 2000 census, but continues to grow. The median income for a household in Great Falls as of the last census was $159,695. Values of Great Falls homes for sale generally range from about $600,000 to over $8,000,000, averaging about $1,880,000. Homes sold in the low $600,000’s or less are typically purchased as tear-downs for their land. Zoning in Great Falls prevents construction of town homes. Generally, Great Falls real estate has held up relatively well in the declining market of recent years.

Buyers looking for Great Falls homes are attracted by its many amenities and natural setting. Great Falls Park, a major attraction, overlooks the Great Falls of the Potomac River, from which the community and the park take their name. Great Falls also features River Bend Golf & Country Club, with an 18-hole championship course, indoor and outdoor tennis, swimming and clubhouse. Nearby is the Great Falls Swim and Tennis Club, a popular alternative for non-golfers. At the center of town is the ever-popular Village Green, which hosts community celebrations, such as the town Christmas Tree Lighting, and summer concerts.

Your REALTORS for Great Falls and Surrounding Northern Virginia Communities

Having lived and worked in Great Falls for over twenty years, we know the Great Falls real estate market. If you are you thinking about selling your home in Great Falls, please call us for a complimentary Comparative Market Analysis. You will benefit from our expert design and home staging suggestions. We professionally style your home as it is photographed for your showcase home brochure. We proudly boast award-winning photography and Madison Avenue quality marketing that will truly show your home at its finest.

If you are thinking of selling your home in Great Falls, we can help. Our complimentary market valuation of your home is based on the most comprehensive and up-to-date market data. We will give you straightforward advice on pricing based on Great Falls home sales data, and will also assess the current market. We can show you the most cost-effective way to stage your home for the Great Falls real estate market. Great Falls Realty employs both hi-tech and traditional marketing tools to promote your home. Our goal is to sell your house for top-dollar, in the least amount of time possible, and with the least amount of inconvenience to you.

Buying a home in Great Falls? Let us do the legwork. We thoroughly research and then preview homes that meet your expectations, using our automated Northern Virginia MLS research that e-mails you new Great Falls homes for sale with your criteria the moment they hit the market. We are available seven days a week to serve you, and we firmly believe in prompt communication. Our outstanding reputation and service are second to none.

If you are relocating to this area, call us first. We know the neighborhoods, the schools, the builders, and the homes. We also know Great Falls real estate market conditions. Before you even arrive for your first visit, we will have scouted out the most promising homes for you to tour. We take the time to listen to your wants and needs, and scour the market to help you discover the ideal Great Falls home for you. Our mission is to help you find the home best suited to your family, at the best price, and under terms the most favorable terms Finding the best home for you and your family is more important to us than just selling a house. In fact, your transaction will not proceed until we are certain that you have a thorough understanding of  the local market,  a thorough awareness about the condition of the property, and are comfortable will every aspect of the process. You can expect red-carpet service, prompt communication, and a smooth transaction. We want you to be as happy living here as we have been!

Thanks for visiting our site. If we can serve you in any way, please let us know. Our operating philosophy is simple; we build our business by  one satisfied customer at a time. Repeat business and referrals from Great Falls home buyers and sellers is the cornerstone of our success.

Bob and Jane Rader