Author: ARLnow.com Sponsor

Just Reduced Properties in Arlington

By ARLnow.com Sponsor

Each week, “Just Reduced” spotlights properties in Arlington County whose price have been cut over the previous week. The market summary is crafted by licensed broker Aaron Seekford of Arlington Realty, Inc. GET MORE out of your real estate investment with Aaron and his team by visiting www.arlingtonrealtyinc.com or calling 703-836-6116 today!

Please note: While Aaron Seekford provides this information for the community, he may not be the listing agent of these homes.

We hope everyone is enjoying these beautiful fall days.

With high temps in the mid- to upper-60s forecasted through next week and foliage hitting near-peak, this is the time of year many of us wish would last forever. Unfortunately, Old Man Winter and his frigid temps (and perhaps an onslaught of snow?) will be here before we know it. And, we should all be getting ready.

Among your fall to winter transition list in Arlington County, take a look at your window and door sealings. When it’s time to crank the heat, you won’t want heat (and money!) seeping out of your home.

Additionally, give those gutters a look. Sure, some leaves are still clinging to our trees. But, once they’ve all fallen, you’ll likely find a good chunk of them in your gutters. Snow and ice on top of whatever is already there can equal a potentially hazardous disaster, so now is the time to clean them out.

In addition to many of our team members calling Arlington home for generations, Arlington Realty, Inc. has been serving locals since 1984. Whether it’s the seasons or your real estate transaction, we’re ready to help you weather (pun intended) any scenario.

As of October 21, there are 162 detached homes, 22 townhouses and 103 condos for sale throughout Arlington County. In total, 28 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 Aaron Seekford.

Ask Eli: Major Changes To Pre/Off-Market Property Marketing

By ARLnow.com Sponsor

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!

This past week, Bright MLS announced major changes to prevent agents and brokerages from marketing properties for sale that are not entered into the MLS.

Previously, there were no restrictions on where and how long a property could be marketed to the public and/or other agents if it was not in the MLS. Effective immediately, a property must be entered into the MLS within one business day of any marketing (some exceptions apply). Violators will be fined up to $5,000 per violation.

Initially it might seem like this rule is unnecessarily restrictive and hurts consumers, but I strongly believe it is a net benefit for the marketplace.

What is MLS?

MLSs (Multiple Listing Services) are the organizations that allow agents and consumers to see all properties for sale in one place; the database of record that powers your favorite property search apps/websites. They are private entities born from the cooperation of regional brokerages, funded through brokerage and agent fees. There are around 600 regional MLSs across the country.

What is Bright MLS?

Bright is the name of our local MLS and is the largest in the country. It is responsible for property listings in all of D.C., MD,and DE, most of VA and PA and some of NJ and WV.

How it Benefits You

This type of regional cooperation between brokerages means that buyers have access to every home for sale in one centralized location, thus increasing the odds of finding the right home, and sellers can ensure their home is visible to every buyer, thus increasing the odds of their home selling for full market value.

A market without an MLS is fragmented, inefficient and not in the best interest of consumers.

New Pre/Off-Market Policy Change is Necessary

Over the last few years, in an effort to distinguish themselves from competition, brokerages and agents were engaged in a fierce competition to establish an inventory of pre/off-market properties marketed through independent websites, portals and social media channels. The idea was that if an agent or brokerage has a large inventory of off-MLS properties, in addition to access to all on-MLS properties, they’d be able to attract more clients.

These efforts led to fragmented “shadow markets” across the region, making it impossible for buyers to access all properties for sale and potentially limiting a seller’s market exposure. The Bright MLS Board, made up of brokers from across the region, recognized this problem and unanimously determined that changes were needed to secure the enormous benefits of cooperation.

The new rules still allow intra-brokerage marketing of off-market properties and agents to have one-off conversations with other agents and/or buyers about off-market properties, but agents/brokers cannot engage in public or inter-brokerage marketing.

What to Expect

Going forward, you should no longer find a property being marketed for sale or coming up for sale that is not entered in the MLS and widely available across all/most consumer-facing property search websites/apps. This includes social media, even Instagram and Facebook Stories.

One caveat is that not every consumer-facing property search website/app picks up properties entered into the MLS with a Coming Soon status. Bright MLS allows properties to be entered as Coming Soon for up to 21 days.

(more…)

Legal Insider: New Virginia Law Requires Employer to Provide Personnel Documents

By ARLnow.com Sponsor

This is a sponsored column by attorneys John Berry and Kimberly Berry of Berry & Berry, PLLC, an employment and labor law firm located in Northern Virginia that specializes in federal employee, security clearance, retirement and private sector employee matters.

By John V. Berry, Esq.

An amendment approved by the Governor of Virginia in Virginia Code.

Requirements of the New Virginia Employment Law

Virginia Governor Ralph Northam approved an amendment and re-enactment of Virginia Code § 8.01-413.1. The new amendment requires Virginia employers to produce certain employment documents when they receive a written request from a current/former employee or employee’s attorney.

If the employer doesn’t comply, the Virginia statute awards potential damages to the employee if the employer fails to do so within the allotted timeframe. Since the amendment became effective on July 1, 2019, a number of Virginia employers are seeing an increase in requests for the applicable documents.

The Virginia amendment requires a Virginia employer to furnish employment records reflecting (1) dates of employment, (2) wages or salary, (2) job description and job title, and (4) any injuries sustained during the course of employment within 30 days of the receipt of a written request. An employer is not required to be a party to a suit for the statute to apply. That statute provides that:

Every employer shall, upon receipt of a written request from a current or former employee or employee’s attorney, furnish a copy of all records or papers retained by the employer in any format, reflecting (i) the employee’s dates of employment with the employer; (ii) the employee’s wages or salary during the employment; (iii) the employee’s job description and job title during the employment; and (iv) any injuries sustained by the employee during the course of the employment with the employer. Such records or papers shall be provided within 30 days of receipt of such a written request.

Before the new Virginia statute, employers were not required to produce such documents without a subpoena. If the Virginia employer cannot process the employee’s request within 30 days, the employer must notify them in writing. The Virginia employer will then have an additional 30 days to produce the records.

Pursuant to the Virginia statute, the employer can charge a reasonable fee for the copying of paper records and/or the retrieval of electronic records. Failure to comply with a written request can result in a subpoena and the award of damages against the employer, including the employee’s expenses for obtaining the copies, court costs and attorneys’ fees.

The bottom line is that the new statute in Virginia will help employees obtain copies of their employment records. If the employer does not comply, they will likely be responsible for significant fees.

Conclusion

If you need assistance with Virginia employment law issues, please contact our office at (703) 668-0070 or at www.berrylegal.com to schedule a consultation. Please also visit and like us on Facebook at www.facebook.com/BerryBerryPllc.

Rethink Energy: Button Up Before the Cold Arrives!

By ARLnow.com Sponsor
1/8

This regularly-scheduled sponsored column is written by the Arlington Initiative to Rethink Energy team (AIRE). This county program helps you make smart energy decisions that save you money and leaves a lighter footprint on the environment.

Home insulation has a significantly greater impact on your home’s energy use and comfort than new windows or doors.

Believe it or not, 9 out of 10 homes in the U.S. are under-insulated. That means that you most likely live in one of them. Older Arlington homes were built when insulation was expensive and fuel was cheap. Many Arlington homes were built with no insulation and are uncomfortably hot in the summer, cold in the winter and have uneven temperatures room-to-room and floor-to-floor.

Do you have uneven temperatures throughout your home? What are you waiting for!? Join other Arlingtonians that already weatherized their homes and are enjoying the benefits of year-round comfort and lower utility bills.

In most cases, the fixes aren’t complex and the cost will likely be less than you expect. In just one day you can have your home insulated and be comfortable year after year.

Unsure where to start? Check out this list of contractors that participated in the our previously run Home Energy Rebate Program. Give an insulation contractor a call today to get an estimate. The sooner you act the more comfortable your home will be.

Tune in to our next post where we’ll post tips for renters and condo owners.

New Homes in Arlington: October 18

By ARLnow.com Sponsor

Welcome to New Homes, a biweekly column highlighting the new construction real estate market, written by Conor Sullivan and Dave Moya of Three Stones Residential at Keller Williams Realty. We are here to share our experience and expertise in lot acquisition, financing and construction of custom homes. 

Who Can You Trust When Building a New Home?

New construction is a fun process, but it can be a more complicated and stressful journey than buying a typical resale home. For this reason, we recommend following these three steps to make your experience a bit more smooth and enjoyable.

Find the Right Builder — When deciding on which builder you are going to work with, there are a variety of things to consider during the selection process. You’ll want to make sure the builder has a range of layout options to select from since the lot will determine what you can do with the space. It is also smart to see how many Non-Standard Options (NSO) the Builder offers. If these NSOs are limited, it may mean you aren’t able to do as much “customization” as you originally planned, and rather are required to make selections from pre-determined materials the builder has already selected for a broader scope of projects.

Have a Design Plan — Know what you want your home to look like and what features you want to have at the beginning. It is important to make these decisions up front when going through the design process as making these changes during construction can not only cause delays, but cost you big bucks.

Agent Advisor Partnership — Working with an experienced agent as your advisor is critical throughout the entire process. Your advisor can help find the lot for the best price, select the right builder for you and avoid pitfalls that can come with the building and designing process. Your advisor should have experience working with new construction homes and a strong understanding of builder contracts so they can help navigate you to get what you want.

At Three Stones Residential, our agents are well versed in the new construction process. We’ve worked with a number of builders and can help you decide who may be the best fit based on your needs and expectations. Being natives to the area, we are local marketplace experts and will guide you in finding the best location for your new home at the best price.

Additionally, we have a solid understanding and experience of builder contracts and will bring to light all the details you need to focus on to avoid delays and additional costs down the road. To learn more about new construction homes, contact us at [email protected] or (571) 429-7670.

Below is a list of new homes currently on the market in the Arlington areas.

Want to learn more about financing a New Home build? McLean Mortgage (NMLS ID: 99665) can handle all of your construction financing needs. You can build your new home with as little as 5% down. Contact construction loan expert Troy Toureau (NMLS ID: 5618) at 301-440-4261 or AnyHomeLoans.com to learn more.

Open Houses in Arlington This Weekend

By ARLnow.com Sponsor

Looking for a home? There are plenty of houses and condos open for viewing this weekend.

Check out the Arlington Realty website for a full list of homes for sale and open houses in Arlington. Here are a few highlights:

3323 N. Vermont Street
5 BD/4 BA, 1 half bath single-family home
Agent: Ttr Sotheby’s International Realty
Listed: $1,649,000
Open: Sunday 2-4 p.m.

 

4647 3rd Street S.
5 BD/4 BA, 1 half bath single-family home
Agent: Re/Max Allegiance
Listed: $1,099,00
Open: Sunday 1-4 p.m.

 

2086 N. Oakland Street
3 BD/2 BA, 1 half bath villa/townhouse
Agent: Re/Max Allegiance
Listed: $919,900
Open: Sunday 2-4 p.m.

 

3800 Fairfax Drive #302
3 BD/2 BA condo
Agent: Keler Williams Realty
Listed: $824,000
Open: Sunday 1-4 p.m.

 

1943 N. Cleveland Street
3 BD/1 BA single-family home
Agent: Redfin Corporation
Listed: $709,900
Open: Sunday 1-4 p.m.

 

4658 34th Street S.
2 BD/2 BA condo
Agent: Samson Properties
Listed: $599,900
Open: Sunday 12-3 p.m.

 

1800 Wilson Boulevard #426
1 BD/1 BA condo
Agent: Compass
Listed: $455,000
Open: Saturday 1-3 p.m.

Just Listed in Arlington

By ARLnow.com Sponsor

Just Listed highlights Arlington properties that just came on the market within the past week. This feature is written and sponsored by Team Cathell, “Your Orange Line Specialists.”

Even though we started the week with a travel holiday weekend, buyers really picked up the pace and were busy ratifying 60 contracts. That’s a big boost from last week’s sleepy results of just 45 homes sold.

And sellers did their part by listing 65 homes. Arlington still has a major shortage of inventory, as does most of the country. Arlington currently has only 1.1 months of inventory, not a good situation for buyers.

Mortgage rates started creeping upward last Friday and now are at 3.75% for a 30-yr fixed rate. Mortgage refinance applications increased 4% this week as owners are trying to lock in rates before they increase further. But mortgage purchase applications were down 4% due to short term economic uncertainty and lack of inventory.

A troubling retail sales report released Wednesday showed that consumer spending in September was down for the first time in seven months. The unexpected results indicated sales were down on automobiles, online purchases and building materials raising fears that the decline in the manufacturing sector could be spilling into the broader U.S. economy.

Click to see all the fresh new inventory in MRIS and call Team Cathell (703-975-2500) when you find a home you like.

Biz Talk: Washington Area Resources for Seed Stage Startups

By ARLnow.com Sponsor

This article was written by Sindy Yeh, Senior Business Ambassador for Arlington Economic Development.

Workshops to Support Startups

In our work with entrepreneurs at Arlington Economic Development (AED), we often hear that one of the most challenging aspects of growing a business is attracting capital investments.

Many entrepreneurs have spent years developing innovative products and services and have created solid business plans to successfully execute and market their products. However, for many early stage companies, attracting investors to help fund and grow the company is still the most daunting challenge.

According to a study by Pitchbook, from 2010-2017, San Francisco and Silicon Valley still attracted more venture capital than almost any other parts of the country, followed by New York, Los Angeles and Boston. The Washington Metropolitan area ranked 9th on the list.

Our early stage Series A startups in the area are required to be even more resourceful since many investors in the DMV region tend to look for more mature companies with proven customer traction and revenues. They are more risk averse than investors in San Francisco and New York. Hence, early stage startups must sometimes travel outside the region to meet and connect with investors.

There are many organizations in the Washington area that serve as a conduit for investors, innovators and startups. The Mid Atlantic Venture Association (MAVA) and CONNECTPreneur both provide forums for technology startups to connect with investors.

For the past three years, Arlington Economic Development has also hosted technology startup competitions such as Startup Arlington and the Dongsheng-US Global Entrepreneurship Competition to provide recognition and opportunities for winning companies to access capital and resources. We have also invited Arlington companies to participate and exhibit with us at CES, SxSW and Collision to meet with outside investors and potential customers.

Funding Opportunities for Early Stage Technology Companies

The Center for Innovative Technology (CIT), a nonprofit corporation funded by the Commonwealth of Virginia, provides equity investments to help fill the gaps for innovators and tech entrepreneurs at the early commercialization and seed funding stages of a company’s development. Its mission is to support Virginia-based entrepreneurs who are launching and developing high-growth technology companies and creating high-paying jobs for the future.

During the months of September and October, CIT has been traveling throughout the Commonwealth for a series of briefings on funding programs that are available to Virginia-based researchers and entrepreneurs. The series align with CIT managed Commonwealth Research Commercialization Fund‘s upcoming Request for Proposals with approximately $2.5 million available to support high-potential technology development and commercialization activities in clean energy, cybersecurity, data analytics, life sciences and unmanned systems.

Here is the calendar of events held throughout the Commonwealth in October.   

How to Open Doors to Funding with an Executive Summary

On Thursday, October 17, the Washington Network Group will be hosting a practical workshop to teach entrepreneurs how to write an effective executive summary when pitching to investors. The event will be held at Arlington Economic Development from 4-6 p.m.

An executive summary is often the first document investors and lenders want to see before a complete pitch deck and business plan. It can be the key to opening more doors if funders seek additional information. However, many entrepreneurs overlook the importance of having a tightly-written, effective, even compelling executive summary.

Ines LeBow, CEO of Enterprise Transformation Solutions, will be teaching this valuable seminar on how to write an effective executive summary.

Just Reduced Properties in Arlington

By ARLnow.com Sponsor

Each week, “Just Reduced” spotlights properties in Arlington County whose price have been cut over the previous week. The market summary is crafted by licensed broker Aaron Seekford of Arlington Realty, Inc. GET MORE out of your real estate investment with Aaron and his team by visiting www.arlingtonrealtyinc.com or calling 703-836-6116 today!

Please note: While Aaron Seekford provides this information for the community, he may not be the listing agent of these homes.

Hot, hot, hot! Whether you live here or want to, you’re bound to hear about just how darn sizzlin’ Arlington County’s real estate market is right now.

Amid the factors, one of the key drivers in pushing prices and demand up is… INVENTORY! As of today, according to BrightMLS, there are 286 total homes for sale in Arlington County. Looking at our Just Reduced column from four years ago (yes, we go way back with this column!), there were 574 total homes for sale.

So, doing some math here, we’ve seen a 50 percent-plus reduction in inventory in a four-year span, let alone the other stats and facts you can pull out there. That’s pretty incredible.

On the seller’s front, now is an incredibly powerful time for you. The options in Arlington County are limited and you can certainly leverage the situation. On the buyer’s front, it’s never been more important to have a seasoned team by your side to navigate the competitive market.

Regardless of which side of the transaction you may fall, the team at Arlington Realty, Inc. is ready to advocate on your behalf and get the most bang for your buck.

As of October 14, there are 150 detached homes, 26 townhouses and 106 condos for sale throughout Arlington County. In total, 23 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 Aaron Seekford.

GMU Juris Master’s Program Helps Students Excel in Diverse Careers

By ARLnow.com Sponsor

When juggling a full-time job and evening classes four to five nights a week in George Mason University’s juris doctor (JD) program became difficult, graduate student Alicia Meads withdrew from the program. When she heard last year that the Antonin Scalia Law School was offering a new part-time juris master’s (JM) program, designed for working professionals, she re-enrolled.

“I wanted to understand the nuances of the law so that I could be a better lobbyist and policy professional,” said Meads, who works as a legislative affairs manager for one the nation’s largest fertilizer companies and regularly meets with members of Congress on Capitol Hill to represent her company.

Meads was able to transfer some of the credits from her JD program, and will be the first graduate from the JM program this fall. What she’s learning has been immediately applicable to her career, she said.

“I’ve been able to develop an expertise in environmental, social and governance — or ESG — reporting,” said Meads, who also helps the company coordinate its sustainability reporting and disclosure. “[The JM program] is perfect for anyone who’s working in public affairs, politics or policy and still wants a law school experience.”

Other JM students agree.

Ginger Burk, who’s been a journalist for more than a decade, said she joined the program to expand her understanding of the law and become an even stronger political correspondent.

“[Understanding the law] is inherent to all political and government reporting,” Burk said.

As a result of her studies, Burk is better able to understand court documents she reads for her job and how the lawyers she interacts with everyday have been taught to think, she said.

“A juris master’s degree will bring increased credibility to one’s skillset,” said Adriane McCray Webb, a mindfulness practitioner who said she facilitates workshops to guide clients to personal transformation, creative innovation and self-actualization. The Florida native believes the program will help her better understand intellectual property laws to help her clients copyright and protect their creative works.

Jessica Sartorius, director of the JM program, said the JM degree is in high demand and offered by almost half of all tier-one law schools. With Mason being close to Washington, D.C., the program could help many more professionals in the future, she said.

In addition to professors who keep class intellectually stimulating, there are other benefits to being part of a law school, the students said.

“You’re building professional and social connections with the people that you’re in class with and that you’re learning from,” Burk said. “It is truly a well-designed program.”

For more information about the JM degree program, please visit our website or contact Jessica L. Sartorius, Director of Juris Master (JM) Degree Program, at [email protected] or 703-993-8418.

Ask Eli: Arlington Loan Programs

By ARLnow.com Sponsor

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: Are there any loan programs available to people buying a home in Arlington?

Answer: October is Housing Month in Arlington which means some nice County programs including the annual Live In Arlington Info Fair which provides a ton of great information and education on fair and affordable housing in the County.

To support affordable housing, Arlington offers four programs for moderate-income homebuyers that I’ll highlight below.

Most Popular: Virginia Housing Development Authority (VHDA) Community Homeownership Revitalization Program (CHRP)

  • Reduces your interest rate on a VHDA loan by 1%
  • Household income must be 120% or less of the Area Median Income (AMI)
  • Purchase must be in one of three Arlington County zip codes: 22203, 22204, 22206
  • Must be a first-time homebuyer
  • Can be combined with other programs
  • Programs ends when funds run out each year. $5M was allocated in 2019 and ran out in September. Program will begin again in 2020 with new funding.

Most Unique: Moderate Income Purchase Assistance Program (MIPAP)

  • Interest-free loan up to 25% of the purchase price to cover down payments, closing costs, rate buy-downs, etc.
  • Owner pays back loan, interest-free, plus 25% of equity at time of a sale or refinance. If no equity or negative equity, only the original loan is due. This incentivizes owners to refinance once they can afford the home on their own and recycle the funds back to the County to expand the program.
  • MIPAP has only been used about ten times in the last two years, representing 50% of the program’s applicants
  • Household income must be 80% or less of the Area Median Income (AMI) and other loan/credit limits exist
  • Must be a first-time homebuyer or no interest in property within the last three year

Live Where You Work: Arlington County Employee Program (LINK)

  • Forgivable loan for Arlington County employees up to $6,600 (FY2020), becomes a grant after three years and does not have to be paid back
  • Can be used for down payment and/or closing costs and combined with other programs
  • No income limits or other restrictions
  • Also meant for teachers, but currently no budget allocated to it in FY20

Reduced Rate Homeownership: Affordable Dwelling Units (ADUs)

  • Housing units required to maintain specific reduced-price levels based on affordability standards for moderate income buyers
  • Buyers must register to qualify for ADUs and, once registered, will be notified when ADUs come up for sale. If multiple buyers are interested in purchasing an available ADU, there is a priority drawing.
  • Developers can include ADUs in new construction as a community benefit. Recent examples include Key & Nash (four two-bedrooms) in Rosslyn and Carver Place (six three-bedrooms) off Columbia Pike (Pike East)
  • Resale properties are periodically for sale, but there are none currently
  • Arlington currently has 55 ADUs in its portfolio
  • Arlington lender requirements mean buyers have access to a limited set of lenders and should inquire with their lender if they meet the portfolio requirements

If you have questions about any of these programs or would like to explore how they fit into your purchase strategy, feel free 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 D.C., and Maryland with Real Living At Home, 2420 Wilson Blvd #101 Arlington, VA 22201, (202) 518-8781.

View More Stories