Each week, “Just Reduced” spotlights properties in Arlington County whose price have been cut over the previous week. The market summary is crafted by Arlington Realty, Inc. Maximize your real estate investment with the team by visiting www.arlingtonrealtyinc.com or calling 703-836-6000 today!
Please note: While Arlington Realty, Inc. provides this information for the community, it may not be the listing company of these homes.
We made it, friends! A happy 2021 to our readers and neighbors that have stuck with us through the years.
And, if this is your first time checking out the Just Reduced column, a warm welcome to you. Each week, we take an important temperature of the local market — assessing the total current inventory as well as the volume of homes that have been reduced in price during the prior week. And, of course, we give a snapshot of the specific homes whose price tag has been reduced.
A friendly reminder — to our loyal readers and the newbies — that more often than not, these reductions are only the beginning in terms of negotiating a final figure. So, if your New Year’s resolution is to snag the home of your dreams at a fair and/or stellar value, the time-tested team at Arlington Realty, Inc is ready to advocate on your behalf. We’ve got your back.
In the meantime, here’s to another great year for our community! And now on to this week’s Just Reduced figures…
As of January 4, there are 101 detached homes, 40 townhouses and 270 condos for sale throughout Arlington County. In total, 12 homes experienced a price reduction in the past week, including:
Please note this is solely a selection of Just Reduced properties available in Arlington County. For a complete list of properties within your target budget and specifications, contact Arlington Realty, Inc.
Over the past ten months, most of us have spent more time in our homes than ever before, turning our houses into workplaces and classrooms.
“With all this time spent at home, people are looking around and wondering, does my home fit my needs?” said Andrew Moore, president of Arlington Designer Homes.
Home remodeling and moving rates have increased dramatically over the past year with more and more families trying to decide whether to build a new custom home or remodel their current home. Unfortunately, there’s no right answer for everyone. Each family and each situation is different. That’s why Arlington Designer Homes, a locally-owned custom design-build firm, has developed a step-by-step process to help customers decide whether to remodel or build, taking into account our new reality and the changing costs and timelines caused by the pandemic.
“I always ask my customers, what do you need that you don’t have in your home?” Moore said. “Sometimes the problem is external — people want a larger yard, less traffic or better schools. In that case of course, a move or building a new home makes the most sense. But if the need is internal — new office space, a bigger kitchen, an outdoor living area — remodeling could be the better option.”
After thinking about their needs, Moore said families then need to consider their finances and determine how much they want to invest in their current home.
“If you take the value of your home plus the amount you want to invest, can you just move and get a home that meets your needs now? If so, you might not want to deal with the time needed to remodel or build new,” he said.
Many families won’t be able to find that perfect home for sale, though — market inventory in Northern Virginia is tight, with houses spending an average of only seven days on the market before selling. Available land for new building is also limited.
“If we can help our customers find land within their price point that meets their needs, building new is sometimes an easier process than remodeling — you’re starting with a blank page and creating your own space,” Moore said. “But if the land isn’t available, or if you add the land and building costs and the investment is too high, then remodeling is a better path.”
Arlington Designer Homes is an Arlington-based design, build and remodeling firm. We have been in business for almost 40 years and have completed hundreds of projects. We have built custom new homes and remodeled existing homes. We are a full-service firm that can get you from concept to new (or newly remodeled) home. Our customer centered approach helps us build homes for the way YOU live.
This regularly-scheduled sponsored Q&A column is written by Eli Tucker, Arlington-based realtor and Arlington resident. Please submit your questions to him via email for response in future columns. Enjoy!
Question: Do you expect mortgage rates to increase in 2021?
Answer: Happy new year everybody! Historically low mortgage rates in 2020 were one of a few factors that drove real estate prices up across the country (except in the condo market). This time last year, the Mortgage Bankers Association and Freddie Mac each predicted that rates would remain near 2019 levels through 2021, with an average 30-year fixed rate hovering around 3.7% to 3.8% through that period.
As it turns out, rates averaged about a full percent less than those projections. Rates fell consistently throughout the year, except for a brief but sharp increase in mid-March when markets went crazy with the first news of COVID-related shutdowns, until the Fed stepped in with liquidity.
Below are some charts from Freddie Mac showing average mortgage rates over the last 50, 10 and one year.
Average Mortgage Rates Since 1971
Average Mortgage Rates Since 2010
Average Mortgage Rates in 2020
Rates in 2021+
The Mortgage Bankers Association and Freddie Mac each predict that 30-year fixed rates will increase slightly in 2021 and hover around 3% to 3.2% in 2021. Beyond 2021, the Mortgage Bankers Association sees rates averaging 3.6% in 2022 and 4.1% in 2023.
An increase to 4% or higher mortgage rates will likely cause the rapid appreciation we’ve seen over the last couple of years to slow down, but I don’t think it will lead to a pull-back in prices unless it is combined with a migration from the DC Metro due to major changes in telework policy.
If you’re considering purchasing in 2021, I wrote a column in 2019 about my favorite mortgage programs that you might find helpful. If there’s anything I can do to help you prepare for a purchase, don’t hesitate to email me at [email protected].
If you’d like a question answered in my weekly column or to set-up an in-person meeting to discuss local Real Estate, please send an email to [email protected]. To read any of my older posts, visit the blog section of my website at www.EliResidential.com. Call me directly at 703-539-2529.
Eli Tucker is a licensed Realtor in Virginia, Washington DC, and Maryland with RLAH Real Estate, 4040 N Fairfax Dr #10C Arlington VA 22203. 703-390-9460.
The ever-evolving “security threat landscape” and changes in user behavior and IT infrastructure require IT professionals to keep their knowledge up to date and stay on top of the latest trends and developments.
Ranked one of the top online master’s degree for cybersecurity by Cyberdegrees.org and one of the top four online graduate IT programs nationwide by U.S. News and World Report, Virginia Tech’s VT-MIT program takes a unique approach to specialized education.
Core courses in areas such as information systems design, electronic commerce, software engineering and computer programming help students master technical expertise in a business context. After completing these core courses, degree students can choose to specialize in cybersecurity technologies, cybersecurity management or cybersecurity policy. Virginia Tech also offers these topic areas as standalone graduate certificates for those not pursuing the full degree.
Whether interested in running an in-house cybersecurity practice or exploring the legal and ethical concerns triggered by data breaches, students have the opportunity to tailor their education around their career ambitions.
Part of Virginia Tech’s core strength is its world-class cybersecurity research, supported by $15 million in research grants and contracts. Students can access six cybersecurity research centers, including the Ballston-based Hume Center for National Security and Technology.
The VT-MIT program’s 100% online format allows students to pursue higher education at their own by deciding their own course load each semester. Further enriching the student environment is the program’s openness to students with diverse backgrounds and interests, including business line leaders looking to improve their technology capabilities while leveraging their domain expertise.
Combating today’s cyber threats has never been more difficult — or more critical to business continuity. A Master of Information Technology degree with cybersecurity specialization or standalone graduate certificate from Virginia Tech can help leaders better understand the systemic nature of these threats and teach them strategies for dealing with an increasingly complex security landscape.
Learn more about Virginia Tech’s 100% online Master of Information Technology with cybersecurity specializations at vtmit.vt.edu.
Aging Right @ Home is a monthly blog series, answering your questions on providing care for individuals with disabilities, loved ones with dementia and older adults aging in place. If you have a question, please submit it to [email protected].
Going into 2021, a record 53 million people in the U.S. are providing care for older loved ones. That is a lot of people, all of whom are likely under a tremendous amount of stress.
And unfortunately, data shows the pandemic of 2020 will continue to increase family caregivers’ workload considerably…
An October 2020 poll from The Associated Press-NORC Center for Public Affairs Research showed that “family caregivers are now providing 36% more care than a year ago.”
A recent AARP study also shows that “more family caregivers (26%) are having difficulty coordinating care, up from 19% in 2015.”
If you will be a family caregiver in 2021, I am here for you if you have questions or need support. Throughout 2020, professional in-home care became an even more attractive solution for supporting the well-being of seniors. Professional in-home caregivers can help with and/or take over many of the typical tasks of family caregivers, such as hygiene care, managing healthcare appointments, light housekeeping and laundry, meal preparation… whatever tasks need doing.
If you do plan to remain the primary family caregiver next year, please make caring for yourself a top goal of 2021. Remember that if you don’t take care of yourself, you will be a less effective caregiver for your loved one. Here are my suggested resolutions for family health caregivers to keep you and your loved ones healthy, safe and happy
Build some ‘me time’ into your schedule.
Get enough exercise and eat a healthy diet.
Learn more about your loved one’s health condition and what you can expect in the future.
Find a support group, and connect with others who understand.
Set boundaries… and if needed, seek assistance.
In the event you’re thinking about seeking assistance, please do your research and ask about what precautions the agency is taking in response to COVID-19. For example, all Right at Home caregivers were trained in 2020 to reduce the risk of illness, and they follow all local and national guidelines on curtailing the spread of COVID-19. Additionally, Right at Home has a task force devoted to keeping owners and caregivers up to date with the latest recommendations during this rapidly changing situation.
As families work hard to keep the most vulnerable family members safe at this time, having trained professionals on the team is a tremendous stress-buster. If you have questions about providing your own care, or if you’d like to discuss options for assistance, please feel free to reach out to me directly. I wish you a very happy new year and a healthy 2021.
Your neighbor, and Owner/President of Right at Home of Northern Virginia,
Phillip Turner, CDP, CSA
Forty years ago, this neighborhood was planned to be a “new downtown” of Arlington — but was this endeavor successful?
In this week’s Neighborhood Spotlight, please join the Keri Shull Team as we give you a full breakdown of Ballston, one of the most desirable neighborhoods in Arlington, Virginia.
No matter where you live in Arlington, there’s something unique to fall in love with. What do you love about your community? Let us know down in the comments below, so we can highlight them in a future Neighborhood Spotlight.
And, as always, if you have any questions about Arlington real estate, please contact the Keri Shull Team, the No. 1 top-selling real estate team in the Washington, D.C. area.
Where is Ballston?
Ballston is one of the main urban villages of Arlington, marking the endpoint of the Rosslyn-Ballston corridor.
Ballston is close to other popular Arlington neighborhoods, such as Clarendon, making it a great place to live if you work in Arlington. Easy access to public transit and major roadways mean that Ballston also offers convenient access to Alexandria, Washington D.C. and southern Arlington neighborhoods like Shirlington and Fairlington.
Home Styles in Ballston
Ballston tends to be quite varied in the types of homes on the market. High-rise buildings — filled with the apartment-style units found in other Arlington condo communities — dot the Ballston skyline. But just a few blocks away, the neighborhood is filled with detached homes and townhouses.
In general, owning a home in Ballston is a good investment, as Arlington home values have been steadily rising for a while now.
Because of the size of the community and how fast the market moves in Arlington, it’s important to work with a real estate team that can streamline your search and help negotiate for you. In fact, the best thing to do is work with a team that can help find you off-market homes in Ballston.
Popular Ballston Housing Communities
Although Ballston is best known for its condominium communities, there are also plenty of rowhomes, townhomes and freestanding houses available for purchase. Here are two of our favorite housing communities in the Ballston area — for a more complete list, make sure to check out the full guide to living in Ballston:
Ballston 880 offers 123 pockets of luxury living across 10 floors, right in the heart of Ballston. The community features one- and two-bedroom units, both with open floor plans and luxury fittings like granite countertops and hardwood floors.
One of the most exciting new developments in Ballston real estate is Abingdon Estates, a collection of unique, detached homes built by Classic Cottages. This subdivision, located along a secluded cul-de-sac just a few blocks away the Ballston Quarter mall, is a perfect blend of urban convenience with suburban privacy.
What To Do in Ballston
Ballston is one of the “busiest” neighborhoods in the D.C. metro area — there are a ton of things to do in the neighborhood. In fact, there are far too many suggestions to list in this guide!
However, there is one feature of the Ballston skyline that houses a bit of everything — Ballston Quarter. Ballston Quarter is a newly renovated center for shopping, dining and entertainment in Arlington.
Ballston Quarter represents a new wave in urban convenience. The redesigned mall features retail, a hip food hall in Arlington VA, and even an ice rink on top of the mall. The Quarter is home to some of our favorite eateries in Arlington, such as The Local Oyster and Punch Bowl Social.
How To Find a Home in Ballston
Let’s be frank — living in Ballston is pretty great for a lot of people. Residents get to enjoy perks such as:
Incredibly high walkability and transit convenience
Access to top-of-the-line dining and retail at Ballston Quarter
Easy transit due to high employment opportunities
Vibrant local culture
Simple commutes to D.C., Alexandria and other parts of Arlington
Because of this, homes tend to move fast in Ballston. If you don’t approach your home search the right way, the chances of finding — and winning — the right home are very slim.
If you aren’t working with the right team might have serious trouble finding the right home now — but there is help out there! At the Keri Shull Team, we have hundreds of off-market properties that you cannot find online or anywhere else… and we want to give you priority access to these homes before they even go on the market.
And if you are selling a house in Arlington, it’s more important than ever to make sure you are taking the proper precautions to protect your investment. The best way to do that is to speak with a top-tier real estate agent and create a completely customized home selling strategy.
So what are you waiting for? Just click here to schedule a time for a free, no-pressure consultation with one of our Real Estate Needs Analysts!
Title insurance is boring, but Allied Title & Escrow is here to decode the jargon and make it (somewhat) more interesting. This biweekly feature will explore the mundane (but very necessary!) world of title insurance while sharing interesting stories of two friends’ entrepreneurial careers.
When you buy a home, you are required to get title insurance for the lender who is providing your mortgage. You do have the option to get title insurance for yourself, and we highly recommend you do so you can protect what is likely your largest investment.
The horror stories are painful to hear about when people decline owner’s title insurance; people end up losing their homes because of a rare issue that arises with the title of their home.
Many of our clients are confused as to why you need title insurance, so we put together a list that will give you an overview of why it’s a good investment:
It protects your largest investment.
It reduces your risk.
You can’t beat the value.
It covers your heirs.
It’s not the same as homeowners insurance.
8 in 10 homebuyers choose owner’s title insurance.
You’ll have a peace of mind.
Check out this quick one pager that further explains each point and if you have questions, email us directly. We will be happy to answer any questions you have.
Have questions related to title insurance? Email Latane and Matt at [email protected]. Want to use Allied Title & Escrow when you buy a home? Tell your agent when you buy a house to write in Allied Title & Escrow as your settlement company!
It’s the time of the year when our favorite outlets are releasing their “year in review” and… what a year it has been!
I know I’m not alone when I say it’s been a year like no other for our Business Investment Group (BIG) at Arlington Economic Development. Like many others, we quickly learned to do business not as usual. Our “normal” work is to support economic growth through job creation and business expansion in Arlington County, and that all changed in mid-March of this year.
While we did have success retaining and even attracting companies in 2020, preservation was the name of the game this year. In mid-March, we quickly pivoted to focus efforts on checking in with our companies and assisting those that needed help. Success looked a little different this year. If we could help companies access the information and resources they needed to avoid layoffs and shuttering their business, that was a victory. Sometimes, it meant just listening as a business owner shared what they were going through, their concerns, their struggles and their fears.
Our team shifted to provide the services that were needed in our business community in the moment, which was challenging at times, but each team member stepped up without hesitation. The events of this year, which challenged us each personally and professionally, left us stronger as a team and as a business community.
I would like to highlight a few great accomplishments in the face of a brutal 2020. First, the way our department and community came together to stand up the $1.3 million Arlington Small Business Emergency GRANT Program — this was a herculean effort that only succeeded with the contribution of human and financial resources from AED, the Arlington Industrial Development Authority and Arlington’s three Business Improvement Districts. The BIG team played a pivotal role in developing the grant infrastructure as well as fielding calls and requests from hundreds of businesses. Not only did this provide direct assistance to our small businesses, but it strengthened working relationships across AED and within the community, which continue to bear fruit today.
Second, through our efforts to check in regularly with our businesses and provide relevant resources, we developed new ways to stay digitally engaged. The BIG team put together six webinars on a range of relevant topics, built three custom websites, and completed 600-plus touch points with Arlington companies and brokers this year.
Last but not least, we saw many incredibly positive things come out of our business community this year including new retail openings, notable fundraising, business pivots and corporate philanthropy.
As BIG looks ahead to 2021, we are hopeful that “normal” business activity will pick up again as the COVID-19 vaccine becomes more widely available and companies feel comfortable making decisions about their office space needs. We have stayed in close contact with our companies and the broker community and, despite our shift from business attraction to business support for much of 2020, the team took advantage of this “pause” to assess what’s been working well and what needs to change to seize opportunities in the months ahead.
We don’t know exactly what the future holds, but we are ready for it with a stellar team that’s developed new tools, skill sets and strengthened existing partnerships.
This week’s Pet of the Week is Pebbles, an energetic 11-year-old lady.
Here’s what Pebbles had to say about her life here in Arlington:
Hello Arlingtonians! I’m Pebbles. I might not look it, but I’m an 11-year-old lady. I can also still keep up with all those young pups.
I’ve been in Arlington for three years. I spent the first two years in Ballston Place Apartments. I loved it there! The front desk staff always gave me treats and belly rubs before and after my potty walks. I especially loved running around Quincy Park.
These days, you can find me in Alcova Heights since my family recently bought a townhouse. There are so many new smells in this part of town! My favorite activity here is chasing all the squirrels in Alcova Heights Park. But afterward, I need to pass out in my corner of the house to take a nap.
If you see me around town, say “hi” and give me a belly rub! I love new people and am always very happy — except for when I’m around vacuum cleaners. I think those things are the only things I dislike with a passion.
Want your pet to be considered for the Arlington Pet of the Week
Email [email protected] with a 2-3 paragraph bio and at least 3-4 horizontally-oriented photos of your pet. Please don’t send vertical photos — they don’t fit in our photo galleries!
Each week, “Just Reduced” spotlights properties in Arlington County whose price have been cut over the previous week. The market summary is crafted by Arlington Realty, Inc. Maximize your real estate investment with the team by visiting www.arlingtonrealtyinc.com or calling 703-836-6000 today!
Please note: While Arlington Realty, Inc. provides this information for the community, it may not be the listing company of these homes.
We’re on the homestretch of 2020!
Yes, this nutty year is just about over. Look at all we have collectively endured… phew!
As we look ahead to 2021, some of the nuttiness will surely continue. But there is hope on the horizon. And, among the bright spots, is our local real estate market. Historically, the D.C. metro area’s housing scene has been among the strongest, anchored by high-paying jobs, low unemployment and a cultural landscape like no other.
So, as America collectively rebounds, and we get through this COVID-induced hump, keep your eye on us! If your 2021 aspirations call for a real estate component, the time-tested team at Arlington Realty, Inc. is ready to roll on your behalf.
Until then, we’re wishing you and yours a happy and healthy new year.
And now on to this week’s Just Reduced figures:
As of December 28, there are 113 detached homes, 37 townhouses and 294 condos for sale throughout Arlington County. In total, 10 homes experienced a price reduction in the past week:
Please note that this is solely a selection of Just Reduced properties available in Arlington County. For a complete list of properties within your target budget and specifications, contact Arlington Realty, Inc.
