Grateful for Real Estate
Grateful for Real Estate
There are so many reasons to be Grateful this Holidays Season. In honor of Thanksgiving that just occurred, figured I’d make a short list of Gratitudes that are Real Estate related. So I’ll start with the basics, and then expound to our area.
The basics =
– I’m thankful for Real Estate, because it is a basic need (AKH Shelter). Everyone needs a place to live
– I’m thankful for Real Estate because it’s a wealth builder.
– I’m thankful for Real Estate because there are tax benefits to owning real estate.
– I’m thankful for Real Estate because if purchased wisely it can be an avenue for passive income. Passive income is also known as “mailbox money.” Because people pay you rent, and every month money gets mailed to you, often without you having to do anything.
Virginia, Maryland and Washington DC Real Estate
– I’m thankful for the Federal Government. I know, I know, this year wasn’t the smoothest with furloughs, the government shutdown, Obamacare, and more. However, they’re still a huge part of our area in so many ways. So no matter if you’re a Republican, Democrat, or something else, recognize the fact that as the government goes, so goes our area (economically and more). The government is a huge employer and driver of employment in Virginia, Maryland and Washington DC. And many people don’t realize they’re also a huge owner of real estate, and tenant as well. I don’t know what the exact numbers are, but sometimes it feels like 1 out ofof 5 or even 1 out of 3 people are either government, quasi government or employed by a government contractor. And they fill buildings with working people all over our region.
(please be advised that being thankful for the government and being a fan of everything they do are completely different – do not get them confused)
– I’m thankful for the Tysons Corner Metro. It has been referred to as the Silver Line. These 5 new Metro stops that shoot off of the Orange line between the East and West Falls Church Metro Stations has been expected for a long time. Some could say as it has been talked about since 2002 as something that was “happening.” But this past year it made tremendous progress. The stations look pretty much finished now if you drive by one. 4 stations in Tysons Corner and 1 in Reston, off of Whiele Ave and the toll road (route 267) make up what they’re calling phase 1. Eventually this Dulles Metro Silver Line will go all the way out to the Dulles International Airport and beyond.
– I’m thankful for Macerich. They’re the owner of the Tysons Corner Mall. And they’re taking proactive strides for growth of the region. They have taken action towards building 3 new high rise buildings right in front of Tysons Corner Mall. Each of these three new Tysons Corner buildings is different: one is a commercial office building, one is a hotel, and one will be an apartment building. Macerich has attracted some key tenants (Intelsat) to occupy the new commercial building. And with new tenants come a new worker base to live nearby or at the very least commute to the area, and frequent all of the shops and restaurants.
– I’m thankful for the ICC. ICC stands for Inter County Connector. It’s a road that cuts from route 270 in Montgomery County Maryland to route 95 and route 29. This is a great concept because there had been no similar high speed road to get from place to place before across that spread of the county. And when I drove on it recently it wasn’t that crowded. Less traffic is always a plus. Full disclosure for people who haven’t ridden on it yet, the ICC is a toll road. It can be accessed with an EZ pass device. As a local Realtor and Real Estate Specialist, anything that offers more transportation options and hopefully alleviates traffic congestion, is most likely seen as a good thing.
– I’m thankful for Walmart. I’m not a huge Walmart shopper, and haven’t gotten into the politics of the big box store and how they can polarize many less populated regions for the economic affects the store can have on those types of regions. However, I have to recognize the energy, convenience, and employment they’re bringing to the region. 2 specific examples are in Tysons Corner and in Washington DC. I’ll expound.
First in Tysons Corner when the “Urban Walmart,” (my understanding is that Urban Walmart is slang for Walmart with little to poor parking, compared to a normal Walmart) opened in August in the Tysons West development near the soon to be open Spring Hill Metro stop, it was jam packed. There were tons of people there. And every time since when I’ve popped in to pick up something for my office (hey, they’re close by – we’re at 8000 Westpark Drive, suite #140, Tysons Corner/McLean, VA 22102) there have been plenty of people. The new store provides great options for Westwood Village and Tysons Village neighborhoods to walk to. And a very short drive for many other local neighborhoods. It’s great to have choice in terms of the variety of products they offer, as well as the low prices they advertise.
Second, in Washington DC, I heard there were plans for 6 new Walmarts. I believe 2 new Walmart stores are moving forward. These numbers are not exact, but I’ve heard that they had 2300 or 23000 applicants for some 600 jobs. That’s ridiculous. Can I say Wow! So basically the area needs jobs like this. Look how many applied. And I’m sure the variety of products and prices will be appreciated too. It is amazing that it’s taken so long for Walmart to enter the Washington DC market. But now they’re here and it’s exciting.
– I’m thankful for Imagination Stage in Bethesda. Really this is a symbol for all of the great youth/children’s edutainment options we have around here. Isn’t that a cool word: Edutainment! I wish I could say I invented, but I’m pretty sure someone else did. Either way, you get the picture, Education and Entertainment combined. Imagination stage has excellent programming for plays and classes for kids. And so do so many other locations in the Washington DC Metro area. Glen Echo Park, the Smithsonian Museums,a new Children’s Museum at National Harbor, the National Zoo, and so much more. We’re really lucky for all the options we have here in Virginia, Maryland and Washington DC. That’s not really even considering Baltimore and the Inner Harbor and Aquarium and the Science Center there. I have kids, I’m super thankful, and so are many of my clients who have kids (Disclosure, not all my clients have kids, I am completely in line with Fair Housing – love helping anyone, kids or no kids, buy real estate, sell real estate, or invest in real estate). And I’ll make the connection for anyone who doesn’t see it, but all these things for kids Edutainment (going to say that as many times as I can in this paragraph) are fun and positive towards the growth of local children. And people want to live by these types of amenities and options for their kids. Everyone wants more for their kids than they had, and hopefully that’s more than just toys – it’s learning opportunities. So good stuff for kids = more appeal for homebuyers to live close by. And more appeal means positive impact on local Real Estate values.
So that is just a few of my Gratitudes that relate to Real Estate. I’m Grateful. I hope you are too!
Happy Thanksgiving, and beyond!
You’re local Real Estate Specialist, Jeff Wu, [email protected]
