U r b a n T r e k k e r

Weekly Real Estate News Roundup

First Housing Now Oil
In Charlotte, N.C., gasoline at nearly $4 a gallon is cracking "the survivors," as credit counselor Bruce G. Hamlett calls them. They're the people who played by the rules and kept up their mortgage and utility payments even as neighbors gave up and moved away, leaving empty homes. Now, crazy prices at the pump are pushing even these survivors over the edge.

Don't Raid Retirement Savings to Pay the Mortgage
I have two home loans totaling 100% financing. Both are variable-rate, interest-only loans. The 80% loan is a 5-year ARM; the 20% loan is a home-equity loan in which the rate changes monthly. I have been in my $389,000 home since July 2004 and I am starting to have trouble making the payments, but I have not missed one yet. The present value of my home is probably less than what I owe on it, but not greatly so. The only money I have available to continue to make the payments is my 401(k).

The Lowdown on LIBOR
Financial institutions the world over use Libor—short for the London interbank offered rate—to set the interest paid on everything from mortgage loans to complex financial instruments. But now questions are being raised about whether the rate has been manipulated.

Countrywide Wants Up-Front Payments to Discuss Some Loan Mods? So What?
Last week’s Investor’s Business Daily painted a pretty rough picture of everyone’s favorite industry whipping post Countrywide Financial Corp., after getting wind of a servicing policy that requires some delinquent borrowers to pay 30 percent of arrearages before the lender will begin discussing loan modification options — fees that the reporter, Kathleen Doler, called “a steep entrance fee.”

Rates Rise, Lenders Get Strict
Every time you fill the gas tank, you get a lesson in why mortgage rates are rising.  Mortgage rates went up this week because prices for fuel and food keep moving higher and higher.

Lose Home, Pay More Tax
Some of the biggest losers in the real estate slump are not purchasers of mansions they could not afford. They are buyers of second homes — or third ones, for that matter — who are sitting on a tax time bomb.

Raising the New Roof
Green roofs are nothing new. In their book, Planting Green Roofs and Living Walls, Nigel Dunnett and Nöel Kingsbury report that the idea has “been [around] for centuries.” Historically, say the authors, people in present-day Turkey, Iraq and Iran built homes of mud or earth with grass-covered rooftops.

Modern Paradise
“Vladimir Ossipoff was kind of a legend in Hawaii,” says architect Dean Sakamoto, curator of Hawaiian Modern: The Architecture of Vladimir Ossipoff, an exhibition celebrating the work of this midcentury master, first held at the Honolulu Academy of Arts last November.

Ask the Expert
What's green, low cost, stylish and low maintenance product for tub and shower enclosures?

Inside a Billionaire's Real Estate Trouble

Burlingame, Calif. -Tim Blixseth grew up poor in Oregon, made a fortune selling timberland, and thanks to his skilled dealmaking, created The Yellowstone Club, a posh private skiing and golf resort on a vast spread in the mountains near Big Sky, Montana. In large part due to his ownership of the Yellowstone Club, he entered the ranks of the  Forbes 400 Richest Americans; last year, his net worth was an estimated $1.3 billion.

Fall or NY Real Estate Dynasty
It always seemed as if Harry Macklowe, the most famous of New York City's swashbuckling developers, was fated to lose it all one day. In good times, he borrowed heavily to expand his real estate empire. In bad times, Macklowe avoided catastrophe by sweet-talking his bankers - or battling them in court.

Shoulda, Coulda, Woulda
1. Waiting too long for the green consultation
  We should have coughed up a little extra money and brought in a green design person while we were still designing the house.

Hz So Good
Architects Simon Beames and Simon Dickens are worried. They are worried about the impact that construction makes on the environment, though they are equally concerned about being thought of as patchouli-scented Deadheads.

Housing Affordability Index: Surprise, It's a Buyer's Market
The National Association of Realtors released its latest report today on the Housing Affordability Index [HAI] for April, showing a slight decline to 129.4 from the March level of 130 (see chart below) due to a slight increase in median-price home in April.

Vader Garage Rehab Will Take Your Breath Away!
My man over at 100k House ran into a guy in Philly that just finished this green garage rehab and has it for sale on Craigslist.  Long and short, three University of Pennsylvania Master of Architecture majors agreed to forgo the traditional route of finding summer internships and decided to buy, design, and rehab a house in Philly.

Five Green Ideas for Your Kitchen Renovation
Gwendolyn Bounds invested about 16 months and $83k in her posh, green kitchen remodel. The process was slightly more difficult than she imagined, but nonetheless, as you can see from the below video: the result is quite nice.

Which Metros Feel the Most Pain? A Look at Case-Shiller
More bad news on the housing market: Released today, the S&P/Case-Shiller home-price indexes showed home prices across the country fell 14% from a year earlier, representing the largest drop in the 20-year history of the indexes. From the fourth quarter, prices fell 6.7%. (See WSJ article.)

FROM AROUND THE REGION: DC-MD-VA

Transit on Thursday: Not Down with ICC Edition
You might have missed it between the hot dogs and the pool parties and enjoying the warm weather, but Saturday's Post ran a front page story on the sad afterthoughts of Maryland's Intercounty Connector — a neighborhood that is literally being split, run over, and wiped from the land it sits on.

Resting on a Peninsula, with Little Pretense
Cabell P. Bragg seems oblivious to what many would consider his million-dollar view of the Patuxent River.

Foreclosures Hitting Military Families Felt in Woodbridge
Home foreclosures hitting military families in Woodbridge are growing at one of the fastest paces in the nation, according to a Bloomberg News report, citing data collected by RealtyTrac.

Looking for a Free Ride?
A program called Ride Free is going on now! The Northern Virginia Transportation Commission set up this program for the summer to help residents do our part to improve air quality.

Washington Business Leaders Form Coalition to Help Solve the Workforce Housing Crisis
"Workforce housing has become a big problem for us; driving to affordability is no longer an option," J. Michael Pitchford, co-chair of the Washington D.C. ULI Terwilliger Center for Workforce Housing, explained to more than 60 business leaders at a breakfast meeting May 14^th at the Bank of America offices.

Yards Park Phase I Get Zoning Approval
In what chair Anthony Hood remarked might have been the Zoning Commission's first-ever landscape architecture-only case, the Zoning Commission on Thursday night approved the design for the first phase of the waterfront park at The Yards, the nearly 6-acre green space along the Anacostia River on the site of the once walled-off Southeast Federal Center.

Spectrum Redevelopment Moves Forward
The Fairfax County Planning Commission last week unanimously approved redevelopment plans for the Spectrum shopping center in Reston.

Condo Market on the Edge
Valet attendants stand poised at the porte-cochere of the Ritz-Carlton Residences as a doorman ushers visitors toward the marble lobby. A scent called "Icelandic Moon Flower" wafts through the adjacent spa. Pathways wind through the manicured lawn and gardens, just steps from a new stretch of downtown Baltimore's waterfront promenade.

Charlottesville Firm Designs Horse-Oriented Communities
Sure, it would be nice to have a few acres with a couple of horses grazing in the front paddock, but, honestly, who has the time for all that barn work? A better solution might be to follow the example of golfers, who live next door to their hobby but let someone else do the work.

Playing Low Ball
In the year and a half that Ann Page has struggled to sell her five-bedroom McLean home, she has received an array of lackluster offers that fell below her original $2.499 million price tag.

Buyer's Market
This five-bedroom Falls Church home has “superior craftsmanship and materials” and is “loaded with luxury features,” including a recreation room with a home-theater wing, high ceilings, and a gourmet kitchen. Unfortunately, it’s been a stress-inducer to unload.

Triple Whammy

It's a double whammy for the economy (and people) because of housing and oil price, Business Week reports.

The one-two punch of rising energy prices and falling home prices has landed so quickly that many American families and businesses are breaking rather than bending. The evidence is the rapid rise in foreclosures, bankruptcies, and job losses. Actually, Charlotte is in better shape than most places. Home prices in the metro area were up slightly in March from a year earlier. Things are far worse in cities like Miami (down 25% over the past year), Detroit (down 18%), Phoenix (down 23%), and Las Vegas (down 26%).

The third one is credit crunch.

That's a lot of things to get through. Ya think $4 a gallon is bad, how about $8? Its going to change our life dramatically. Some of my friends been complaining about the gas price. (Me too).

With all kinds of distressed properties on the market, some Realtors have told their clients (normal sellers) 'don't even bother' to put their houses on the market. A wise move. If you don't have to sell, it's better to stay put for now.

On the contrary - for buyers - this is 'heaven.'

image: Business Week

Not Moving or Sign of Desperation?

How many times you get to tour a new development with the builder? I can't remember a day in the past years where we see builders show up at the sales office - just to say hi - to prospect buyers. Now, builder start showing up at events. They're trying to build relationships with buyers. Hoping this approach will help 'close the deal.'

Hm, is this a sign that a) sales really slow moving, or b) desperation? Take your pick. Your guess is as good as mine.

At any rate, if you're in the mood for a weekend gateway - this could be it. A vacation  'courtesy' of the builder.  You'll probably have to listen to the  'sales pitch.' That's about it.

Neighborhood Walkability Score

So you're buying a home or looking for a place to rent? There is a way now to check the walk score of that particular neighborhood. We know walking gives you all the health benefits (and pocketbook), especially these days after seeing gas prices keep pushing $4 per gallon. The score gives you proximity to the nearest coffee shop, grocery, library, metro or even restaurants plus - other places the nearest to.

It's a 'cool' tool to use. All you need to do is to type in your address or where next home is going to be.

The walk score goes from the lowest zero (0) to 100 being the best walkable neighborhood. If the score falls under 50, that means you truly live in a hood where everything is reachable by driving only. Like where I live. The score for my hood is 31 out of 100! The closest 'Giant Food' is a mile and some change from here. Seriously.

On the other hand, Van Ness hood (DC 20008), has a walk score of 91 out of 100 which is a walkers' paradise. DC 20008 beats VA 22206 (Shirlington) with 2 points.

Find out what the walk score for your hood here.

Memorial Day Weekend Edition Real Estate News Roundup

An Embarrassment of Word-ly Proportions
A CBS affiliate in San Francisco got their hands on training videos that probably has execs at Wachovia cringing over how World Savings originated its now-infamous “Pick-A-Payment” loans.

Oops! Countrywide Chairman Mozilo's 'Disgusting' Email
I am writing this letter to explain my unfortunate set of circumstances that have caused me to become delinquent on my mortgage. I have done everything in my power to make ends meet but unfortunately I have fallen short and would like you to consider working with me to modify my loan.

Different Home-Price Gauges, but All Point Down
No matter what housing gauge you look at, the first quarter was negative for home prices.

Your House, Please -- and Your Badge, Too
Foreclosure is not just about losing your house -- if you have access to classified information, you run the risk of losing your security clearance, too.

America's Most Expensive Homes
A little over two years ago, when Donald Trump listed  Maison de L'Amitié in Palm Beach, Fla., for $125 million, it was a sign of the times.

S&P and the Staggering "New" Home Foreclosure Numbers
Whenever I see the word “traunches,” my eyes tend to roll backwards in my head because the world of mortgage backed securities and how they are rated is positively mind numbing.

National City to Pay $4.6 for HUD Violations
Beleaguered lender National City Mortgage must pay $4.6 million in fines to HUD for falsely certifying home loans for FHA insurance under the FHA”s “late endorsement loan” provision. The provision allows direct endorsement FHA lenders to endorse loans for FHA insurance after 60 days from the closing.

US Home Prices Lowest in 17 Years
(WASHINGTON) — U.S. home prices posted their sharpest first-quarter decline since the government began tracking the data 17 years ago.

Protect Your Investment: Decks
If you own a deck, the arrival of summer means your deck will start seeing a lot more traffic and activity, especially since 2008 appears to be the year of the staycation.

Downtown Real Estate Bypasses Housing Crisis: Gas Prices Are Making City Centers More Attractive
An article in Tuesday’s Wall Street Journal, it was reported that despite the mortgage crisis and falling house prices, downtown properties have seemed to be unaffected by the housing downturn.

Better Options for Leftover Building Materials
Use precise measurements to learn how much material you'll need, and then reuse or recycle any leftover material.

Seattleites Offered Incentives to Cut Summer Driving
Mayor Greg Nickels is urging Seattle residents to curb their car driving by 10 percent through his "Give your car the summer off" campaign.

Where Housing Bust Hits Hard
Although America's housing downturn has rippled nationwide, its impact varies greatly by geography – right down to individual          streets, developments, and ZIP Codes.

Housing Woes Lure Back Bold Buyers
New York - The depressed housing market is now attracting buyers who look at boarded-up homes, rising foreclosures, and falling values and see, not disaster, but a rich opportunity.

FROM AROUND THE REGION: DC-MD-VA

Vornado Realty Sells Tysons Dulles Plaza for $152.8M
In spite of a slumping real estate market and notorious overbuilding in Northern Virginia, Vornado Realty Trust is about to sell a major Tysons Corner office complex for far more than it paid.

Monument Realty's Financing Problems  (No Money Yet for Half Street Residential)
From today's print edition of the Washington Business Journal: "With two failed condominium projects seeking apartment investors, incomplete financing at two major D.C. projects and at least one empty office building, Monument Realty is feeling the pinch from today's constricting real estate economy.

Official: House in Historic District for Sale Under the Big Lie
A house for sale in the Vienna historic district is currently being promoted with the detail that Thomas Jefferson planted trees in the front yard. The house? It was built in the 1970s.

Metro to Shut Down Shuttle Buses in Light of New U.S. Regulations
Metro no longer will provide shuttle bus services for the Washington Redskins and other local organizations because new federal regulations prohibit it, officials said.

Board Considers Fining Owners of Illegal Accessory Units
Homeowners who operate illegal accessory-dwelling apartments could soon be facing fines unless they bring the properties into compliance with regulations that could soon be enacted.

Energy Efficiency & Your Abode
Home energy efficiency is a hot topic and with Dominion's rate hike looming it's likely to garner more attention much the way your gas prices have.

Tenleytown is Infested with Rats
In 2006 it was Glover Park, and before that, Dupont Circle, but NBC4 reports that the D.C. Department of Health has officially declared Tenleytown to be the rat hotspot of this year.

Bus Added to the 991 Line
One daily round trip will be added to the Maryland Transit Administration's No. 991 Commuter Bus route, which ferries Frederick-area commuters to the Shady Grove Metro station.

Focus on Virginia's Interstate 66 Corridor: Highway, Metro Spur Development
Which comes first, the development or the highway? Just like the chicken-and-egg riddle, it depends on how you look at it.

DC April Home Sales Struggles

Yesterday, we talked about April home sales for Northern Virginia. DC sales activity follows the same trend to a certain extent. Certainly, price has something to do with the volume of homes sold.

Take a look at the stats.The total number of homes sold for April declined 43.03% from 646 to 368 homes. The two price indicators ticked up 6.77% for ave. sold price from $543,333 in 2007 to $582,266, and 4.53% for ave. median price $419,000 to $438,000 in 2008.

The median price for condos declined from $405,271 to $398,664 - big deal. Yeah right. It's less than 1% drop. While ave. sold price ticked up from $350,000 to $361,000. On the single home front (includes townhouses), ave. median stays flat on the $680's range while ave. sold picked up 1%.

More importantly for the last 4 months (YTD), inventory of homes have been trending up. Inventories of homes: All types at 7.9 mos. of home supply. This just show a strong buyers market!

CONDOMINIUM

SINGLE FAMILY & TOWNHOUSE

image: GCAAR

The total number of condos on the market up 14.1% from 1,352 to 1,543 units while sales declined 42% since January! More than 50% of condos for sale are listed under $600,000. This is not good, especially with more lower end condos are flooding the market. When I pulled listings through MRIS for DC for condos under $300,000, I found that there are more than 452 condos for sale or approximately about 30% of condo listings!

That means, like N. Va April home sales for DC is no spring, either.   

On the financing front, FHA and VA catching up with conventional loan. There were 32 homes sold financed by FHA and VA in 2008 which represents 11% of the total homes sold. For a comparison, there were only 4 homes financed by FHA last year. We'll probably see more FHA and VA loans play bigger role in the days to come.

If April home sales is any indicator, DC sales won't pick up until probably late in the year or early next year until prices drop a little bit more. (Take this with a grain of salt). Because the volume of homes sold has something to do with prices. Some buyers are still waiting on for prices to go down a little bit more - before making a move.

Data: MRIS

No Spring for N.Va April Home Sales

Traditionally, Spring supposedly the strongest season for housing. After analyzing the numbers, it didn't look that way. When looking at April's numbers you have to realize that these homes probably went other contract (or consider pending sales) some 30-60 days ago. So technically the real sales in April won't be realized until June or July.

For the same period, the average sold price declined 8.59% from $529,943 to $484,432. The total number of homes sold declined 10.79% from 1,631 units to 1,455 units - making it the lowest sales of the month - since 2000.

Between the ave. list price for sold of $521,676 (-5.52%) and ave. sales price as percentage of ave. list price declined from 95.98% to 92.86%. What it means basically sellers were more realistic in pricing their homes because buyers know that we're in a buyers' market, therefore, they're offering much lower price than last year. It's not known if what percentage of homes sold is bank-owned. (This deserves another post).

What's interesting is to see the type of financing and median prices. Ave. median price declined 12.02% from $470,000 to $413,500. Median price is when 50% of homes sold above the average and 50% below. The number just tells one thing - there were more homes sold 'under' $413,500 than above it. In N.Va, conventional loans still make the bulk of financing part with 1021 homes sold financed using conventional loans. However, other loan types like VA and FHA catching up - it financed about 18.28% of the total homes sold. For comparison, last year less than 1% of homes sold financed by FHA or VA. That is something!

Other data worth watching: The supply of homes. From January to April the supply of homes (or inventories) declined from 12.48 months to 7.35 months. Still buyers' market - it's tightening, though.

Data: MRIS

Va. HOT Lanes

Virginia congestion management plan for the future. The Capital Beltway HOT (high occupancy) toll lanes is a collaboration between Virginia Dept. of Transportation and Fluor-Suburban. This HOT lanes are four new tolled lanes (two in each direction) alongside the existing highway lanes. The toll lanes supposed to cut commuting time from Springfield to Tysons Corner (major employment center) during rush hour, saving an average 24 minutes a day.

The toll rates based on 'congestion pricing.' Cc's of NYC, Singapore & London road management plans.  Milan calls it 'pollution tax.' Whatever. They're all have the same effect. A month after Milan's implemented Eco-Pass, traffic figures down by 22.7%. It increases bus riderships and subways.

In pure economical sense and benefits, it encourages everyone to go car pooling, ride mass transit or avoid the traffic during rush hour all together. The mission is to take hundred of cars off the roads. Telecommute does look good.

Here is how it works. When it opens for business in 2013, buses, carpools (HOV-3) and motorcycles and emergency vehicles have free access to HOT lanes. However, drivers with fewer than 3 passengers in the car can choose to pay to access the lanes. The pricing goes up and down depending on how much traffic on the road to keep the lanes congestion free. So when traffic increases, tolls will go up, and vice versa. You can pay tolls with E-Z pass. And there will be signs that display toll rates to help you, the driver, decide whether it's worth your money (and time) to use the toll lanes.

 

THE WORKS. Project is divided into 4 construction areas: 1) North of I-66, 2) South of I-66, 3) I-66 interchange, 4) Springfield interchange (mixing bowl).

The timeline for construction. It starts in spring 2008 (supposedly) and schedule to open in 2013 divided into 3 phases. Phase 1: 2008-2010 build outer 2 lanes. Phase 2: 2009-2012 build inner 2 lanes and 2013- open for business.

When I asked the VDOT rep if the works going to interfere with traffic. He assures me that there will be no closure of beltway lane during peak rush hours. If there are closures it will be communicated in advance, i.e. those who don't pay attention - will get stuck in traffic. Take it for what is worth.

Message to you: Plan ahead for your travel.

For more info: Capital Beltway HOT Lanes, Pre-constructions staging areas: Georgetown, Chain Bridge, Braddock, I-66 (.pdf)

Weekly Real Estate News Roundup

Seller as Lender
Q: I have a house with no mortgage. With the market the way it is, to sell fast is it good for me to hold a mortgage?

Why Homeowners Aren't Getting Any Help
Drowning in a mortgage you can't afford? Whether or not you get a new one will be decided by someone you've probably never met at a company whose role is barely visible: the mortgage servicer.

Cities Sue Home Lenders
Valeria Golebiowski moved to the Hawthorne neighborhood 45 years ago, and she's staying even as it crumbles around her.

Canadian Flock to Hawaii Real Estate
Andrew Lambden of Ontario fell in love with Hawaii 20 years ago, but it took a favorable exchange rate to entice him to buy four acres in Kealanani, a luxury development on the northeastern shore of Kauai.

Lenders Raise the Bar
IF you have a mortgage, consider yourself lucky.

Collateral Foreclosure Damage for Condo Owners
Barbara Sanz has never missed a mortgage payment, but the plunge in real estate is punishing condominium owners like her anyway.

Rebates and  Tax Credits  can Lower Appliance Costs
While you might have back-burnered your plans for a kitchen remodel or a new laundry room, you can’t ignore an ailing dishwasher, a struggling refrigerator, or a washed-up clothes washer.

In California, Building a Town with Gentle Footprint
Can a new house reduce your ecological footprint? An ecological footprint is a way of quantifying human impact on the earth.

The First 100% Fully Wind-Powered  Town in the U.S.
Rock Port, Missouri may only have a population of 1300, but it claims a title that no other community in the U.S. can - all of its energy is generated by a renewable resource. In fact, its four $90 million 1.25 MW wind turbines producing 16 million kilowatt hours annually leaves 3 million kilowatt hours in excess.

How to Default on Your Mortgage and Stay in Your House
Floyd Norris today finds one of the worst bonds ever underwritten: a securitization, by Merrill Lynch (MER), of second-lien mortgages mostly originated by Ownit. The kicker? When the bond was sold, Ownit had already gone bust, a victim of the fact that far too many of its loans were delinquent out of the gate.

HELOCs: There's Something Happening Here
I've reviewed a copy of a memo from Sun Trust concerning HELOCs (Home Equity Line of Credit) that I believe to be authentic. In the memo, dated yesterday, Sun Trust announced new HTLTV ("HELOC Total Loan To Value") restrictions in certain circumstances (like declining markets, new condominiums, 2nd homes), and they are apparently even eliminating their Flex Equity program completely in several key states (like Arizona, California and Nevada).

Philadelphia and Boston Firms Seek to Build the Most Energy Efficient, Green Home for $100,000
Postgreen of Philadelphia has contracted ZeroEnergy Design of Boston to perform energy consulting on the 100K House project in order to design the most energy efficient home possible on a small budget of $100,000 in the Delaware Valley region of the US.

Forget AC! Cool Your Home Naturally
Space cooling and heating can account for up to 45 percent of your total home energy use every year, but there are numerous strategies you can employ to reduce cooling costs.

Gas Prices and Real Estate
Interesting piece picked up by The Oil Drum on the relationship between gas prices and real estate in Australia.

FROM AROUND THE REGION: DC-MD-VA

A New Lease Purchase on Life
The timing was all off for Catherine McAlpine and her family. She and her husband, Richard Eig, bought a house on a double lot in their Rockville neighborhood in September 2006, at the high-water mark for prices.

Why Seller Financing Should be the Last Resort
Q: Five years ago this August, we sold our house. We provided owner financing by taking back a first deed of trust for $275,000. The borrower gave us a $25,000 down payment. This was an interest-only five-year balloon loan with a monthly payment of $1,200. We do not plan to renew this loan because we want to buy another property this year.

Firms Bringing New Jobs to County
Businesses offering information technology and professional services lead the 17 firms that used Fairfax County Economic Development Authority services in the first quarter of 2008 and will create 296 jobs in Fairfax County.

County Home Sales Still Soft, But Prices Stable
Home sales across Arlington started off springtime in a soft frame of mind, but it's possible that the worst may be over, at least in terms of price declines.

Warming Up to Small Kitchens
Surviving a kitchen renovation is never easy, as any homeowner who’s been through one will attest. When the kitchen space is small, however, the remodeling process can be even trickier. But with the right blend of creativity and smart design, small spaces can serve up style, seating, storage, and more.

DC Announces Mixed-Use Development Plan for Hill East
More than 60 acres along the Anacostia River -- the site of the former D.C. General Hospital -- are set to become a new mixed-use neighborhood known as Hill East.

Early Briefing: Foreclosures and Freddie Mac
*Once-popular and riskier mortgages, such as adjustable-rate and interest-only, are beginning to take their toll on affluent neighborhoods, economists and real estate agents said, leading to an increase in foreclosures.

Prince William Tries to Tackle Foreclosure Nightmare
  Prince William County will introduce a plan next week to confront its huge foreclosure rate — the highest in Virginia — without spending any money. The proposal relies on diverting at least $20 million of the county's investment pool as leverage to win hundreds of low-interest home loans for county employees.

WHS Lease Extended
While the likelihood diminishes that the Army will meet its Sept. 15, 2011, deadline for moving thousands of federal workers into new offices in Northern Virginia, one agency set to move has renewed its lease in Crystal City through 2013.

Staff OKs Spectrum Plan in Reston
Plans to significantly transform the Spectrum shopping center in Reston moved forward last week as a county staff report recommended approval of the project.

Intersection Upgrade Propose
The National Counterterrorism Center, a government agency affiliated with the Department of Homeland Security, is coming to McLean, bringing a bevy of new federal workers – and new commuters – to the Liberty Crossing area, near the already troubled intersection of Balls Hill Road and Lewinsville Road.

W'end Natl. Harbor Food & Wine + Live Music

This weekend, Saturday and Sunday, there's going to be 'Food & Wine' festival and live musical performance at the National Harbor. The food and wine fest is a ticketed event starts at $65 for one day pass to $100 for both days. Here is the kicker - designated driver gets discount - pays only $50 per event!

The live music entertainment is FREE. It's going to be at the Plaza, by the waterfront. The first band will go on stage at noon, 2pm, 4pm for both days.

For more info, here and here.