News and notes from Reston (tm).

Friday, October 1, 2010

Reston Real Estate: A Special Lake Anne Edition of The High-Low Game

Hey kids! It's been a while since we've played everyone's favorite game of Reston real estate wheeling and dealing, so grab the home version off the shelf, pick up your short-sale paperwork, and get ready for action!

Usually our high winner is a brick-fronted McMansion somewhere right across the Reston border, or a de-luxe penthouse apartment with breathtaking views of the Fake Downtown's attractive parking garages. But this week, we've got something a bit more exciting!

Property_Photo-1.aspx.jpegOur first gem is a rare investment opportunity for people who like cars, or maybe Slim Jims. That's right, the Lake Anne service station, which actually dates back to Reston's earliest days and is pretty interesting architecturally, for a gas station, is on the market.

And at a mere $7 million, you'll recoup your investment after selling just 5,426,356.5891 packages of salted pork rinds!

Property_Photo-2.aspx.jpegOn the low end, we were shocked to see there are no condos under $100,000. The market's going UP UP UP UP! This isn't the absolute cheapest property on the market, but at a mere $155,000 it is the cheapest apartment in the Heron House: a fancy studio apartment with a view that can only be described as "bitchin'."
Amazing Studio in Heron House on Lake Anne. Wood flrs, 15 ft balcony over looking the Lake, a wall of windows make this 530 sq ft home feel BIG! Great location in the heart of the historic Lake Anne Plaza. Enjoy the Saturday farmers & crafter's market, shops, cafes, free summer concerts and more. Convenient to public transit. Condo Fee includes ALL utilities even basic cable!
Never mind that the condo fee is $447.15. You won't have time to notice while you're enjoying reruns of CSI on FX as you get ready for another 11-hour shift changing oil at your commercial investment across the street. Talk about Live, Work, Play and Get Involved (tm)!

That's about all the time we have for this edition of the High-Low Game, folks. Until next time, keep your feet on the ground and keep reaching for the loan modification stars!


  1. Apparently the Heron House studio is under contract. WTG!

  2. A number of bank-owned condos fall in the 25 to 50 thousand range.

  3. $300/sq ft plus $450/mo condo fee? At that price, I suppose that you have to really want a studio with a lake view pretty badly.

  4. Off-topic, but os anyone remember townhomes that were built in Reston but condemned because they were sinking into the ground? I remember seeing them, but can't recall where they were.

  5. Hi- I'm the listing agent on the little condo in Heron House on Lake Anne. I'm also a resident. The condo fee includes all of the utilities and the Comcast Cable. So when you look at the whole picture it's not too bad. It's an amazing neighborhood-- it really is worh it.

    Annon 10:58. I don't think you will find any condos in the Reston zip codes in the 25 - 50 range, even in the foreclosure market which.

  6. Eve --

    Good on you for posting to this blog. Condo fees *are* fairly high throughout Lake Anne, but you get an excellent return on investment in terms of the surroundings.

  7. really? surroundings of what-vacant spots?

  8. Lake Anne is a dead zone. That shopping center needs to be torn down ASAP. Nothing there but those few mom and pop stores. Most of them don't even accept credit cards! Dont people get it? Mom and Pop is dead! People can't compete with franchises. You can be nostalgic about the good old days when you walked into a store and you could chat with the owner and they knew you by name, yada yada yada. Well, those days are gone, so get over it. The blogger keeps talking about the "fake downtown" It looks pretty real to me. And those crowds that pack the place on the weekends look real too. How about that fake post office inside that pharmacy in Lake Anne? What's up with that?

  9. I prefer the post office at Lake Anne because my letters get there faster than if I use the Reston or Herndon post offices. What's up with that?
    Anon 3:44-You sound like a big Walmart fan.

  10. Who mails letters anymore? They have this thing called the internet now. Through the internet, you can send something called an email. It arrives in seconds.Check it out sometime.
    I agree with the previous poster. People who live in Lake Anne are jealous of the town center because it became what they though Lake Anne would become, the nexus of Reston.
    Lake Anne looks delapitaded and extremely dated. Illegal aliens roam at their leisure and gawk at the women. The parking lot is a disaster, tear it down and start over. Who would buy a condo in that place?

  11. I'm not a fan of walmart or any other store. I simply like convenience and low prices.Mom and pop places dont offer the lowest prices and the ones at Lake Anne dont seem to want to take plastic. Who carries cash anymore? They even have parking meters and vending machines that take plastic now. I always hear people say "profit margins for mom and pops are so thin, they can't take plastic because of the fees."..well, if the margins are so thin, then why are you still in business? Obviously you need to sell the place and try something else. Perhaps a franchise. The name recognition alone is priceless and they have coupons, web sites etc. The generation Xer's and younger dont care about some one knowing their name when they walk into some place. Actually, we find that a little creepy.

  12. Anon 7:02-It was lover of convenience and low prices who brought up the post office, not me. When I do occassionally mail something, I prefer Lake Anne because it has better service.
    Lover of convenience and low prices (but not Walmart) please tell me what store at RTC has low prices, I've missed that one. Why do you have to run down Lake Anne in order to defend RTC? Why does it have to be one or the other? I've defended RTC (fake downtown w/ fake joy....)in this filthy web blog snark fest, and I'll defend Lake Anne, too. They are both part of what makes Reston what it is. Why the love of franchises? You prefer homogonized sameness? I find that as creepy as you speaking for two generations. You are a legend in your own mind.


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