UPDATE: Watch the Silver Line run in Tysons ~ Vienna real estate values increase
Yes, back in 2010 I was giving my clients advice that the Metro was going to add significant value to their homes especially in Vienna and Reston. The number of properties being torn down and replaced with homes now (in 2014) priced above $1.3 million is evidence of the impact of the Silver Line. These luxury homes are possible since the location has significantly improved which is a concept that I discussed with clients almost five years ago in this blog post!
Do you think the Dulles Metro will impact the value of your home?
As I was driving through Tysons Corner looking at the Metro tracks that are under construction, I thought about the many conversations that I have had over the years about the additional value the new Metro rail will add to real estate in Vienna and McLean, VA. For many years this question was impossible to answer because the Silver Line (also known as the Dulles Metro ) was always on the drawing board or being hotly debated.
That dilemma has been resolved because construction is well underway.
The new Metrorail line has already added value to real estate located near the Dulles Corridor.
One day we will forget the construction and Beltway closings and have a transit system designed for the next fifty years. People who are moving here see this construction as a positive sign for the area. Yes, the Metro is a good improvement, but these people are also seeing the vast infrastructure project happening simultaneously with the expansion of the Capital Beltway.
These are some of the essential elements in real estate that impact value, or perceived value, begins with the location of a home. Existing homes will be sitting close to modern highways, a Metrorail line into Washington D.C., and within a short drive to Dulles International Airport.
It will be worth the wait!
And when will that be? Phase one out to Reston VA is scheduled to begin Metrorail service late in 2013, and home buyers who took advantage of the 2009 and 2010 McLean, Vienna, Reston and Herndon real estate markets should see impressive gains in their real estate values. See what is available here in the Vienna Real Estate Guide.
If you want more details then contact me now.