why live here ?

Updated November 28, 2017 ... click on images to enlarge
For reference only, not an HCA endorsement or guarantee.

INDIVIDUAL RESALE MARKET VALUES 2013-17
BY DATE, ADDRESS, BLOCK 1/2/3 MODEL A/B/C

  2017
  11577 Maple Ridge Rd ... B2B3 rented Jan 3 for $2100
  11587 Maple Ridge Rd ... B2B3 sold Jan 31 for $390K or $196/sf
  11507 Hickory Cluster ... B3B2 sold Mar 17 for $387.5K or $307/sf
  11539 Maple Ridge Rd ... B2A2B sold May 11 for $435K or $202/sf
  11532 Hickory Cluster ... B3A2B rented May 1 for $2395
  11521 Maple Ridge Rd ... B1AB rented May 29 for $2100
  11591 Maple Ridge Rd ... B2B2 listed Aug 3, rented for $2250
  11542 Hickory Cluster ... B3AC sold Oct 23 for $428.5K or $273/sf
  11549 Maple Ridge Rd ... B2AB sold Oct 27 for $370K or $236/sf

  2016
  11533 Maple Ridge Rd ... B2AA sold Jan 11 for $386K or $281/sf
  11509 Maple Ridge Rd ... B1AC sold Mar 28 for $375K or $191/sf
  11514 Hickory Cluster ... B3C2 sold Apr 22 for $380K or $235/sf
  11581 Maple Ridge Rd ... B2B3 sold May 27 for $385K or $195/sf
  11531 Hickory Cluster ... B3AB sold Jul 29 for $397.5K or $254/sf
  11515 Hickory Cluster ... B3B2 sold Aug 5 for $410K or $324/sf
  11510 Maple Ridge Rd ... B1B2 sold Aug 31 for $405K or $320/sf
  11517 Maple Ridge Rd ... B1AC sold Sep 22 for $476K or $243/sf
  11577 Maple Ridge Rd ... B2B3 listed Sep 1 for $419K or $212/sf
  11522 Hickory Cluster ... B3C1 sold Dec 6 for $399.9K or $320/sf
  11577 Maple Ridge Rd ... B2B3 listed Nov 19 for $410K or $208/sf
                                        also listed Nov 18 as rental for $2300
  2015
  11577 Maple Ridge Rd ... B2B3 sold Jan 9 for $374.1K or $189/sf
  11530 Hickory Cluster ... B3AB sold Feb 23 for $400K or $255/sf
  11517 Maple Ridge Rd ... B1AC sold Apr 7 for $425K or $217/sf
  11502 Hickory Cluster ... B3AB sold Jul 17 for $400K or $255/sf

  2014
  11522 Maple Ridge Rd ... B1B2 sold Feb 3 for $350K or $277/sf
  11583 Maple Ridge Rd ... B2B3 sold Feb 20 for $399.9K or $202/sf
  11522 Hickory Cluster ... B3C1 sold Jun 2 for $380K or $304/sf
  11525 Hickory Cluster ... B3AA sold Jun 4 for $385K or $281/sf
  11597 Maple Ridge Rd ... B2B2 sold Jun 12 for $399.5K or $316/sf
  11506 Maple Ridge Rd ... B1B2 sold Jun 23 for $375K or $297/sf

  2013
  11539 Hickory Cluster ... B3AB sold Jun 28 for $362K or $231/sf
  11597 Maple Ridge Rd ... B2B2 sold Jul 23 for $370K or $293/sf
  11516 Hickory Cluster ... B3C2 sold Jul 24 for $376K or $233/sf
  11511 Maple Ridge Rd ... B1AB sold Sep 11 for $370.5K or $236/sf
  11527 Maple Ridge Rd ... B1AA sold Oct 22 for $359.9K or $262/sf
  11591 Maple Ridge Rd ... B2B2 sold Dec 30 for $380K or $301/sf

REPEAT RESALE MARKET VALUE CHANGES 2013-17

  11577 Maple Ridge Rd, Block 2 Model B3 (B2B3)
      Sold Jan 9, 2015 for $374.1K
      Listed Sep 1, 2016 for $419K ... +$44.9K or +12% ... de-listed
      Re-listed Nov 19, 2016 for $410K ... +$35.9K or +10% ... de-listed
      Rented Jan 3, 2017 for $2100

11522 Hickory Cluster, Block 3 Model C1 (B3C1)
      Sold Jun 2, 2014 for $380K
      Sold Dec 6, 2016 for $399.9K ... +$19.9K or +5%

11517 Maple Ridge Rd, Block 1 Model AC (B1AC)
      Sold Apr 7, 2015 for $425K
      Sold Sep 22, 2016 for $476K ... +$51K or +12%

11597 Maple Ridge Rd, Block 2 Model B2 (B2B2)
      Sold Jul 23, 2013 for $370K
      Sold Jun 12, 2014 for $399.5K ... +$29.5K or +8%

MARKET TRENDS

"Americans bought new homes in October (2017) at the fastest pace in a decade - a 6.2 percent monthly increase that reflects the strength of the economy and the worsening shortage of existing homes for sale. ... Many buyers are turning to new construction because there is a shrinking supply of existing homes for sale.  But new construction has been unable to keep up with demand.  The lack of properties on the market has fueled higher prices, creating affordability pressures."
  - Washington Post, November 28, 2017, page A9

"Home prices rose in 20 U.S. cities in June, reflecting a shortage of homes available for sale, according to Standard and Poors CoreLogic Case-Shiller data released Tuesday (August 29).  Nationwide, values posted their largest advance in three years.  A persistent inventory shortage for previously owned homes is keeping prices elevated at a time that housing demand is being sustained by a strong job market and still-low mortgage rates. ... "
  - Washington Post, August 30, 2017, page A16

"Millennials are ditching the cookie-cutter McMansion for the 'McModern' ... For nearly 40 years, the McMansion has dominated American suburbs. ... In recent years, the McMansion has fallen out of favor for a new type of home:  the "McModern."  Like the McMansion, the McModern is designed for the masses.  But instead of borrowing from traditional architectural styles, McModerns take inspiration from modernist architecture, characterized by an emphasis on vertical or horizontal lines, ample natural light, and a clean aesthetic. ... popular with young, tech-focused, highly-educated millennials."
  - Business Insider, August 7, 2017

"Contracts to buy previously owned U.S. homes unexpectedly fell in May ... as a lack of homes on the market crimped supply. ... Housing demand is being driven by a strong economy and tight labor market.  A lack of inventory has pushed up prices ... ."
  - Washington Post, June 29, 2017, page A12

"Americans bought homes at a quicker pace in May. ... Sales have risen 2.7 percent over the past 12 months, but home buyers are facing greater financial and time pressures because of shrinking inventories ... Homes are staying on the market for a median of just 27 days. ... "  (Goodman Houses are typically on the market zero to seven days.)
  - Washington Post, June 22, 2017, page A12

" ... tastes of buyers in the District have evolved to embrace modern architecture, which ... is more fluid; it embraces open floor plans and the space is more flexible, and natural light is more abundant.  What we're seeing is a real appetite for avant-garde and contemporary, modern spaces.  We've predicted for years that people would start to demand exceptional design, and I think we've arrived at that moment. ... People are gravitating away from the crown molding and the traditional look. ... They want natural light, they want windows.  The urban marketplace has changed. ... Now that another development boom is underway, developers are starting to realize that contemporary designs are appealing to some high-end buyers more than re-creations of the past. ... A few years ago, modern buildings had a harder time finding buyers ... .  Now ... we have people coming to us ... "
  - Washington Post, June 3, 2017, Real Estate Section, pages 12-14

"Mid-century modern homes in the DC area are flying off the market.  My two new listings went under contract in a matter of days, not lasting for the planned open houses this weekend.  Properties are intense seeing bidding wars, even properties being marketed off the multiple listing service.  You have to move quick if you want snag one. ... "
  - Modern Capital, May 7, 2017

"Home prices nationally reached a new high, surpassing the previous best set during the housing boom. ... However, adjusted for inflation, the (Standard and Poor's CoreLogic Case-Shiller) index remains about 16 percent below peak.  The Case-Shiller index measures repeat sales of single-family homes. ... Washington had one of the smaller increases, rising 2.7 percent. ... After peaking in July 2006, home prices bottomed out in February 2012.  ... steady rise in home values, which began in 2013 ... Low mortgage rates have helped fuel the rise in prices, as has a limited supply of homes for sale. ... It is led mostly by constrained home availability as buyers continue to battle over the few homes for sale ... ."
  - Washington Post, November 30, 2016, page A14

"Americans retreated from home buying in August (2016), with a worsening inventory shortage appearing to hurt sales and push prices higher ... the National Association of Realtors saidFewer sellers are coming into the market, with inventory collapsing 10.1 percent from a year ago ... .  Meanwhile, mortgage buyer Freddie Mac said the average 30-year fixed-rate mortgage stood at 3.48 percent this week, down from 3.86 percent a year ago."
  - Washington Post, September 24, 2016, page A14

ASSESSED AND MARKET VALUES

" ... The assessed value of properties may change for a variety of reasons.  Among these are appreciation and value declines (or increases) (i.e., equalization changes); and structural changes (additions, remodeling); rezonings; and land divisions (i.e., growth).  A combination of these factors can apply to the same property. ... Approximately 45% of residential properties experienced an assessment increase for 2017 due to equalization, and another 35% had no change for 2017.  Approximately 20% experienced some level of assessment decrease. ... based on equalization changes, townhouse/duplex properties have ... an increase over 2016 of approximately 1.37% ... .  It is important to note that these percentages represent the cumulative amount to the overall tax base and are not necessarily indicative of specific change to any particular, individual properties.  Individual assessment changes may vary considerably.  For residential property, for example, a key factor in determining the need to change assessments is the relationship of prior year assessments to selling prices within neighborhoods. ... "
  - County of Fairfax Real Estate Division, February 14, 2017

For more information about County of Fairfax real estate services and taxes for individual properties with specific street addresses, view your own My Neighborhood Report or property tax record, respectively.

The graph at left shows 2000-17 annual assessed values as reported in Fairfax County public property tax records for two Hickory Cluster Goodman Houses, a Block 2 Model B3 and a Block 1 Model AC.  Values for central Common Area units, end units, wider models, and carriage houses with carports can be higher than others, and assessed values can be 80-90 percent or more of actual resale market values.  For the Block 1 Model AC, a 2017 assessed value of $423,260 exceeded the 2007 pre-recession boom market assessed value maximum of $414,640.  And it did so despite significant storm damage that temporarily depressed the 2006 building assessed value of this individual unit to $0 while the respective land assessed value continued to align with external market conditions.     

The Block 1 Model AC actual market value / sold price also exceeded real estate website automated running estimates that require manual corrections to conform to reality.  As shown in the graph at right, Zillow grossly undervalued this home to be only $406,000 in July 2016, just before the $476,000 September 2016 sale ... and just before Zillow manually corrected the data and graph sharply upward.  In fact, notoriously inaccurate automated Zillow Zestimates are often confused with actual market values or official appraisals by unaware prospective buyers hoping to pay lower prices, resulting in 2017 individual and class action seller lawsuits.

GOODMAN ARCHITECTURE

Hickory Cluster is a key element of Founder Robert E. Simon Jr.'s original historic Reston First Village centered around Lake Anne.  And Hickory Cluster homes and landscape are significant and distinctive works of International Style Modern Architecture designed by world-renowned Architect Charles M. Goodman FAIA.  Our community is " ... an ideal application of contemporary townhouse design to a naturally wooded site ... " with walls of glass framed by striking architectural elements, providing treehouse views, and integrating indoor and outdoor living.

" ... The appeal of living in a Goodman house is enormous to those who share his avant-garde spirit, plus his ideals for openness, engagement with nature, and liberal social values.  There remains a solid housing market today for people who appreciate the simplicity amid nature and the progressivism that a Goodman house still offers.  ... To those who are fortunate enough to obtain them, his dwellings feel like highly livable works of art, glazed conduits to the natural world.  Perhaps far more than those who inhabited them early on, the houses offer a rarified experience that, contrary to their designer's intent, renders them well removed from any vernacular realm."
  - Elizabeth Jo Lampl, Housing Washington, 2010

Reston Association Covenants and Design Review standards, and Hickory Cluster governing documents, were designed to protect unique and valuable Hickory Cluster building and landscape architectural integrity, resident quality of life, and overall property values.

" ... The design of the cluster is based on the overall composition of elements in blocks and houses, rather than a variety of distinctive differences in the design of individual houses. ... "
  - HCA General Resolution 6, 1998

AND MORE ...

Location, location, location matters ... Hickory Cluster is easy walking distance from Lake Anne Village Center plaza, Lake Anne Elementary School, North Shore Pool, numerous tennis courts, and Reston Town Center.   The new Wiehle Ave. Metrorail Phase 1 Silver Line station is within a mile and Dulles International Airport is within 15 minutes by car.

The Northern Virginia Stream Restoration Bank invested more than $870,000 in commercial developer environmental remediation funds to repair decades of erosion damage, redirect the streambed away from exposed sewer infrastructure, and enhance a 500+ ft. long area between Hickory Cluster Blocks 1 and 2, transforming an environmental liability into a valuable community asset, all at no direct cost to HCA Members.  Work started September 19, 2016 and was completed in February 2017.

Reston RELAC LLC upgraded its chilled water plant in 2013 and has additional plans to more reliably and efficiently cool Hickory Cluster in future years, independent of Lake Anne water levels.

"Hickory Cluster is an amazing community located in the heart of Reston Virginia and designed by Charles Goodman.  It’s occupied by people that love the design and “Work of Art” that IS Hickory Cluster.  We have a large community of artists, architects, designers & photographers which makes our cluster by far the coolest cluster in all of Reston!  The spacious open floor plan, floating stairs, hardwood floors and walls of glass make you fall in love the instant you walk in.  The simple clean design reminds me of the iPad and Steve Jobs could have easily visited our cluster for inspiration.  A special part of our cluster is how our community is connected with walking paths, and on a warm spring morning there is nothing more beautiful than to take a stroll down to Lake Anne or up to the Town Center.  As you walk the paths your senses explode with a kaleidoscope of colors, smells and sounds of life in full bloom.  These paths enrich our lives and lead us to places we love – the pool, tennis courts, play grounds, Lake Anne shops, restaurants and the farmers market.  On warm summer nights, with the sliding glass door wide open, we enjoy Nature's symphony along with a nice glass a wine. In the distance you can hear the laughter of the Hickory Cluster kids as they chase fireflies and have fun.  Life is good in Hickory Cluster." 
  - Rob Chevez, Realtor and Hickory Cluster resident since 2004