Neighborhood Real Estate Summary – 2013
Fairway Oaks Square, River Creek
Summary – The town homes on this particular street, in the River Creek Eagle Point section, are so unique and so spectacular as to warrant their own section in the neighborhood report. Built in 2005 through 2007, these spacious, spectacular homes back to the Potomac River, high on a bluff overlooking River Creek’s 17th and 18th fairways. Walls of windows allow for full views of the Potomac River and Maryland across the way. Modern features abound.
Forecast for the future on Fairway Oaks Square – The real estate downturn in 2008-2009 devastated many areas in Loudoun County, this neighborhood included. The drop was more severe than justified, and the neighborhood continues to struggle to regain close to pre-crash price levels. In most parts of Northern Virginia, prices have snapped back to previous high levels or beyond. This has not happened on Fairway Oaks Square.
I mention these spectacular homes to people throughout Northern Virginia, and most are not aware of the spectacular, Potomac River location, town homes on Eagle Point. Word simply is not going out as it should, and a much stronger promotional campaign is necessary, with a much broader outreach. For these homes to be selling at less than $300 per square foot is ludicrous. Eventually, prices will rise and people will realize the quality of these homes and scarcity value of the product. When that occurs, prices will rise dramatically in this neighborhood. It may take a much different marketing plan to create the necessary catalyst, one which reaches potential buyers from different sources who will grasp the unique value of this location. But eventually, this will happen.
Ray Wedell, Realtor