Just Reduced banner

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 is not the listing agent of these homes.

We’re well in to year two of “Just Reduced” and there’s one thing I’ve particularly enjoyed about having this column: The conversations we’re having.

Sure, there are always ways to make anything and everything better. But most importantly, we’ve started a nice dialogue on how to GET MORE out of a real estate transaction.

And, I’m not only hearing from prospective homebuyers wanting to save precious dough… I’m hearing from fellow agents in Arlington as well. In addition to the “Just Reduced” properties that I source on a weekly basis, you all have kept some stellar bargains on my radar. And many of these bargains have made it on our shortlist over the months.

So, on that note, let’s keep the dialogue going and… thank you!

As of November 14, there are 208 detached homes, 48 townhouses and 282 apartments for sale throughout Arlington County. In total, 38 homes experienced a price reduction in the past week.

Here is this week’s selection of Just Reduced properties:

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 banner

This regularly-scheduled sponsored Q&A column is written by Eli Tucker, Arlington-based Realtor and Rosslyn resident. Please submit your questions to him via email for response in future columns. Enjoy!

Question: How do you think Trump’s presidency will impact real estate in Arlington/Northern Virginia?

Answer: I’ve never gotten so many questions about the same topic before (shocker…)! Like most of you, I entered election night completely unprepared for the result, so I’ve spent a lot of time getting read up on the impact Trump will have on our real estate market. The following is a summary of my findings sans my personal politics. Chicken Littles beware, I’m an optimist!

The Outlook Is Positive

Most of what I’ve read suggests that the Northern VA real estate market stands to benefit in the short and mid term from Trump, but the long term impact is where the concern lies. Key factors include:

  • Increased Defense Spending: More jobs, more office space and more money for the major Defense employers in the area like DoD, Boeing, Lockheed Martin and Raytheon should increase demand for housing, particularly in the mid and upper markets.
  • Tax Cuts: The assumed tax cuts should give a number of fringe buyers enough cash to cover a down payment sooner than they expected. I wonder if this will encourage developers to convert large multi-family buildings from rental apartments to condos.
  • Deregulation: Expect major deregulation on banks (Dodd-Frank) and home building to make it easier and cheaper to build new homes, thereby increasing the housing supply, which, in Arlington, is less than half of what economists say it should be in a neutral market. I do expect we’ll see increased demand well before an increase in supply.
  • Markets: After the election-night 5% tumble in futures, domestic markets have responded positively, signaling faith in the economic impact of Trump’s presidency. Strong markets tend to signal strong real estate growth.

Still Too Much Uncertainty

Ken Harney, Real Estate writer for the Washington Post, recently admitted, “It’s still too early to assess [the new reality of the real estate market].” Despite early optimism from many industries, a lot of it comes down to Trump’s design and implementation before we can determine the impact. Here are a few major questions:

  • Foreign Policy: Trump’s foreign policy changes project to be the biggest destabilizing factor of his presidential agenda and poorly executed foreign policy could easily trump (pun intended) any domestic growth. It’s way too early to start guessing how his foreign policy will impact local real estate, but it’s not too early to start hoping he gets it right!
  • Fannie/Freddie: One of the biggest questions facing the residential housing market is how Trump will handle Fannie Mae and Freddie Mac, makers of the mortgage industry. Trump has spoken about dissolving these institutions, but hasn’t said much about what would replace them. If he leads a major attack on Fannie and Freddie, look out for drastic changes in access to credit and mortgage rates, for better or worse.
  • Interest Rates: It’s time for us to stop telling consumers where we think mortgage rates are going, especially now that there are so many questions about the economy and turnover on Fed’s Board of Governors. Lynn Fisher, VP of Research and Economics for the Mortgage Bankers Association said interest rates might rise from the current 3.6 percent to 5.4 percent by 2019, but she added, “We’ve been wrong continuously for the last couple of years.”

Remember Where You Live

Arlington (and DC Metro) real estate remains one of the most stable real estate investments during difficult economic climates. We faired well during the Great Recession and Business Week ranks us among the top places to live during a recession. Strong fundamentals including Federal Government/Contractor jobs and valuable infrastructure like the Metro and an industry-leading fiber optic network support the local housing market.

The best advice I can give (mostly stolen from Warren Buffet) is don’t try to time the market, bet on America in the long-term, and make real estate decisions based on the needs of you and your family, not the talking heads on CNBC. Oh, and if you decide to bury gold in your backyard, do it quietly, after midnight and during a New Moon.

Here are some good articles I’ve found that hit on a range of topics that impact the local and national real estate market:

How Trump’s Presidency Could Impact Real Estate

Impact on 15 industries including Real Estate, Defense, and Banking

N.Va. economy, housing market in flux as Trump readies for presidency

Positive Outlook On D.C. Office Market

How President Trump Will Change the U.S. Housing Market

If you’d like a question answered in my weekly column, please send an email to [email protected]. To read any of my older posts, visit the blog section of my website at http://www.RealtyDCMetro.com.

Eli Tucker is a licensed Realtor in Virginia, Washington DC, and Maryland with Real Living At Home, 2420 Wilson Blvd #101 Arlington, VA 22201, (202) 518-8781.


The Chew column banner

The following bi-weekly column is written and sponsored by Dog Paws n Cat Claws, which provides a heart-centered and safe environment for your pets. Conveniently located at 5818-C Seminary Road in Bailey’s Crossroads, DPnCC offers doggy daycare, boarding, grooming, walking and training services, plus in-home pet care.

At the tender age of 5, I came home with a caterpillar and announced to my parents, “I’m her new Mommy.”

Obviously, that didn’t work out, but it was clear that I would be a die-hard rescuer. Right after I moved to a place of my own, I rescued a kitten on the highway that lived as my loyal best friend for 17 years! I’ve rescued one from an abandoned house, and another under a car. My current 3 cats were rescued off the streets of New York. I “foster failed” with my 90-pound deaf boxer after 2 days and I signed the adoption papers with tears of joy.

I’m lucky enough today to be surrounded by people who have the same mind set as I do. At Thanksgiving, I make a list of what I have to be thankful for and my pets are always at the top. In turn, I look for ways to show my gratitude to the organizations that rescue pets in need of care, love and a family. It’s time to remember those in need.

It’s estimated that approximately 7.6 million animals enter shelters each year in the US, including 3.9 million dogs and 3.4 million cats. Only 10% of them are spayed or neutered. 1.2 million dogs and 1.4 million cats are euthanized every year, even with the 13,600 rescue organizations across the US doing their best to save them. Dog Lover’s Digest lists 7 rescue groups in Arlington alone, with even more in the surrounding areas. We have worked with Homeward Trails for over 11 years and know just how desperate the need is to care for all of these rescued pets.

Homeward Trails, who is responsible for finding my own dog, currently has 55 dogs at its rescue shelter, with 125 dogs and 150 cats in foster care. They need your help! Homeward Trails Adoption Coordinator and Dog Paws employee Miranda Trohon says, “With the increasing number of animals we take in during the colder months, we have an ever-increasing amount of animals to feed. We can go through upwards of 30 bags of food a month at our Adoption Center alone!” This is only one rescue group in our area. Each and every one of them would benefit from donations. I am asking you to pick your favorite and give what you can.

Most of the dogs and cats that enter rescue shelters are from a rough background. Nothing helps a puppy or kitten grow like excellent nutrition and a sick animal is more likely to bounce back into a full recovery if they are eating healthy food. Look for grain free food and make sure the top listed ingredient is a protein. All of the dog and cat food we sell in our store is of the highest nutritional quality.

During this time of gratitude, we can all be thankful for what we have. What we can give to help those less fortunate is a wonderful way to say “thank you.” There are so many rescue organizations in our area that are in need and each November, Dog Paws n Cat Claws offers 10% off of any products bought in our store that will be donated to Homeward Trails, making it easier and more affordable to provide high quality products.

My pets have added so much joy to my life and I’m sure I’m not the only one who feels that way. I personally want to thank them by donating to Homeward Trails in their name. They brought me my best friend. Join me! Where did your best friend come from? Thank the rescue organization that brought you together by giving back. Better yet, adopt a NEW pet!

Have a wonderful Thanksgiving!

Sara Schabach
Dog Paws n Cat Claws
In-home Pet Care Manager


Just Listed banner

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.”

It’s over. America’s torment enduring 16 months of nasty negative campaign media bombardment is over. It’s time to move on, and Arlington’s home buyers have done that by ratifying 50 contracts this week.

That record outpaces sellers once again who put only 42 homes on the market this week. At this pitiful rate of new listings and ratified contracts, Arlington has only 2.75 months of inventory. It’s still a strong sellers’ market. Available single family homes are so scarce that properties that have been on the market 8-9 months sold this week, without recent price reductions. This pushed the average days on market up to 66.

A note of caution if you start to see media reports that Arlington’s average sales price has gone down since last year. Statistically that’s true, and that’s because the ratio of single family homes sold to condo sales has dropped significantly. Average condo prices are much lower than single family prices, and so the greater number of condo sales has pulled down the overall average for all home sales in Arlington.

So don’t panic. Single family homes and townhome values have gone up since last year. More on that later.

Note coming soon: 1) a 3BR single family home in zip 22201; 2) a 2BR condo in Clarendon. Call for more information.

Meanwhile, interest rates spiked this week on the surprising election news. The 30-yr fixed rate jumped 5-25 basis points in a still volatile environment ending today at 3.65%-3.85%.

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


Ready Arlington banner

This biweekly column is written and sponsored by the Arlington Office of Emergency Management.

A message with a cause

slide4This month, helping some of Arlington’s most important causes just got a lot easier. To kick off the “Season of Giving,” the Office of Emergency Management has launched a special “Subscribe and Serve” campaign. This month, when you register for Arlington Alert using the new “EZ” form, you can choose to support one of four local causes, and we’ll make a donation on your behalf. If you want to fight hunger, you can donate a can of food to the Arlington Food Assistance Center (AFAC). If you’re interested in helping to end homelessness, you can direct a pair of socks to the Arlington Street People’s Assistance Network (A-SPAN). Are animals your thing (and in Arlington, we know they are)? Then a can of pet food for the Animal Welfare League of Arlington (AWLA). Finally, if you’d like to help develop the next Picasso, you can donate art supplies to Arlington Public Schools (APS).

A stronger community = a more resilient communityAFAC Feeding our Neighbors in need

In emergency management, we know that it takes a “whole community” to truly make emergency preparedness work. AFAC, AWLA, A-SPAN and APS are some of our essential community partners for responding to and recovering from disasters. Let’s take a look at how their work creates a resilience for Arlington:

  • Arlington Food Assistance Center: Not only does AFAC assist in providing critical nutrition for thousands of people in Arlington, they are also excellent logisticians. They know how to acquire, process and distribute food to large numbers of aspanpeople — a critical skill for serving those who might be impacted by disaster.
  • Arlington Street People’s Assistance Network: The homeless population is one of the most vulnerable — both during and after an emergency. By ensuring that these people’s basic needs are met, A-SPAN helps ensure that they don’t need to consume additional resources during an incident.aps
  • Arlington Public Schools: Children are another vulnerable population, and APS helps ensure that they are supported in all aspects of their life. During emergencies, APS provides critical facilities — like gymnasiums and cafeterias — with generators in case we need to establish emergency shelters. Crayons are also an important part of an emergency kit for anyone with kids — easy, battery-free entertainment!animal_welfare_league_of_arlington_color_rgb
  • Animal Welfare League of Arlington: You’ve heard us harp on it before, but pet preparedness is an important part of individual preparedness. After Hurricane Katrina, we learned that 44% of people did not evacuate for the storm because they refused to leave the pets behind. AWLA provides important services like microchipping (which aids in pet-family reunification after a disaster), as well as affordable vaccinations (which are a requirement in most emergency pet shelters). AWLA is the County’s main partner for opening and operating these shelters.

arlignton-community-fcu-logoThese organizations are an important part of our community both before and after emergencies. Another important partner is the Arlington Community Federal Credit Union. They helped sponsor this campaign because they know how important partnership strengthens the community. Additionally, they provide financial services that are an essential part of emergency planning. Don’t forget to think about banking, lines of credit, and insurance as part of your own personal preparedness plan.

Strength through partnership

Overall, communities that are strong before a disaster are typically strong after a disaster. Government agencies, non-profit organizations, and businesses and the partnerships between them create the network that creates that strength. Don’t forget that individuals are part of this coalition too- and don’t forget to subscribe and serve!

 


1301 S. Quincy Street
Neighborhood: Douglas Park
Listing Price: $999,900 (sale) or $3,750/month (rent)
Open House: Sunday, November 13 from 2-4 p.m.

Brand new home is move-in ready! This stunning single-family home features three finished levels with over 4,500 square feet of living space.

Sunny, open layout is perfect for entertaining and finishes include crown molding, hardwood floors, marble baths. Gourmet kitchen includes top of the line stainless steel appliances, range hood, granite counter tops, custom cabinetry, gorgeous backsplash and large breakfast bar. Kitchen opens up into large living room with fireplace, and the spacious floorplan also includes separate dining room and additional family room.

Upstairs you will find 4 large bedrooms, and the stunning master bedroom suite includes a walk-in closet, private Juliette balcony, separate sitting area, and incredible master bathroom. The finished basement offers a home theater for cozy nights in as well as a bedroom and full bath for guests to stay, or to be used as an in-law suite or home office.

This home sits on a corner lot with fenced-in yard, 1 car garage, and has great curb appeal with gorgeous stone facade. Great location in Arlington close to 395 and Columbia Pike makes commuting or heading into D.C. for the day a breeze. Not ready to buy yet? This home is also being offered for rent! Come see everything this great home has to offer at our open house this Sunday, November 13 from 2-4 p.m.

Please contact Keri with the Keri Shull Team and Optime Realty at [email protected] or call 703-436-2191.


Just Reduced banner

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 is not the listing agent of these homes.

Well, wasn’t that a fun election?

Fortunately we won’t have to do that for another four years. And fortunately, not every decision in life has to be a difficult one.

When it comes to deciding on a place to call home, you’re already off to a great start by zooming in on Arlington County. Our area has been a rock — in terms of housing — where other markets have been a bit shakier.

A big reason for the steadiness is our area’s low unemployment rates, comparatively high salaries and award-winning public school system, among other items. Oh, and of course we’re a stone’s throw from our nation’s capital, our culinary scene is magnificent and there is shopping galore.

So, when you’re ready to cast your vote on a place to live — whether it’s a single-family home, townhouse or apartment — I’m ready to help you GET MORE out of your purchase.

As of November 7, there are 210 detached homes, 44 townhouses and 287 apartments for sale throughout Arlington County. In total, 48 homes experienced a price reduction in the past week.

Here is this week’s selection of Just Reduced properties:

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 banner

This regularly-scheduled sponsored Q&A column is written by Eli Tucker, Arlington-based Realtor and Rosslyn resident. Please submit your questions to him via email for response in future columns. Enjoy!

Question: My husband and I own a townhome in a small but popular community.  There is one unit that has been on the market for a few months because it was a rental for many years, is in very bad shape, and frankly, overpriced.  How can the performance (or lack thereof) of this property impact our ability to sell our unit, which is in great condition and move-in ready?  Should we try to sell ours sooner rather than later to avoid a low-end comp in the neighborhood or will other agents understand this is not a true “comp” for our unit?

Answer: This question may seem specific at first, but it applies to many communities in Arlington across all types of housing — condos, townhomes and single family homes — that are similar in size, design, floor plan and value. It’s a fairly common question I get from owners considering a sale and concerned about a problematic listing in their neighborhood.

Assumptions

  • Your home is comparable to the problem home
  • Most/All of the homes in your neighborhood are comparable
  • It’s clear the other home isn’t in great condition when you look at the pictures online and when you see it in person
  • Your home is clearly a notch above, will show better, and will photograph better than the problem home
  • There are not any other similar listings in your neighborhood

List Soon For Higher Sale Price

Chances are that interested buyers will look at both homes and your neighbor’s poorly maintained home will make yours look even better (increased relative value). You can use your neighbor’s overpriced home to your advantage by pricing yours slightly above market value and leveraging the fact that your home is a bargain compared to the neighborhood competition. So by listing now, while the other property is on the market, you have an opportunity to command an above market sale price.

Impact Of A Bad Comp

Your question about the impact a lower comp can have (if you decide to wait) is relevant, but the impact will be limited as long as it’s clear in the listing photos and sales data (high days on market) that there’s a significant difference between the homes. As long as there are some other sales in the neighborhood of homes more representative of yours, I wouldn’t worry too much about it from a sales standpoint.

One area that the impact could be felt is on the appraisal. If the problem home sells for significantly below the market value for homes in your neighborhood and is one of the only sales in the last 6 months, most appraisers will factor this into their assessment. Any time a home is purchased with financing, the bank requires an appraised value at or above the sale price, and low appraisals can cause problems. However, a good listing agent understands how to manage the appraisal process and help guide the assessed value in the right direction, which should be fairly simple in your case.

What’s the takeaway here? In many cases, it can work in your favor to list your home in direct competition to a similar, but worse home in your neighborhood because it improves the relative value of your home. One scenario I recommend being careful of is competing against a poorly maintained home that is priced significantly under market value because buyers might get estimates from a contractor on the cost of updating the cheap home and end up making your home look overpriced, even if it’s not.

Have a question about local real estate? Don’t be shy! Send me an email at [email protected] or tweet me @EliJTucker with your question and I’ll answer it in a future column.

If you’d like a question answered in my weekly column, please send an email to [email protected]. To read any of my older posts, visit the blog section of my website at http://www.RealtyDCMetro.com.

Eli Tucker is a licensed Realtor in Virginia, Washington DC, and Maryland with Real Living At Home, 2420 Wilson Blvd #101 Arlington, VA 22201, (202) 518-8781.


Berry & Berry column banner

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 Kimberly Berry

The White House recently asked states to enact legislation banning non-compete agreements for low-wage workers in an effort to increase competition and improve the economy. In a White House report issued on October 25, 2016, it explained that these types of agreements often prevent out-of-work employees from finding new jobs in their career fields. The White House also stated that these non-compete agreements interfere with worker mobility.

A non-compete agreement typically bars an employee from working for a competitor or starting his or her own business once the employee leaves the employer.

The White House report cited the fact that 20 percent of U.S. workers have signed non-compete agreements preventing them from working for competitors. The figure included an approximate 17 percent of employees who do not hold a college degree. As such, the White House is requesting that states pass bans on non-compete agreements for workers who do not possess trade secrets. Additionally, the White House is asking that states require companies to be more transparent about contracts.

The three principal recommendations in the White House report on state changes to non-compete agreements include:

  1. Enact State Bans on Non-Compete Clauses for Certain Categories of Workers: (1) workers under a certain wage threshold; (2) workers in certain occupations involving public health and safety; (3) workers who are unlikely to possess trade secrets; or (4) those who may suffer undue adverse impacts from non-competes, such as workers laid off or terminated without cause.
  2. Improvement in Transparency and Fairness: of non-compete agreements by, for example, disallowing non-competes unless they are proposed before a job offer or significant promotion has been accepted (because an applicant who has accepted an offer and declined other positions may have less bargaining power); providing consideration over and above continued employment for workers who sign non-compete agreements; or encouraging employers to better inform workers about the law in their state and the existence of non-competes in contracts and how they work.
  3. Give Incentives to Employers: to write enforceable contracts, and encourage the elimination of unenforceable provisions by, for example, promoting the use of the “red pencil doctrine,” which renders contracts with unenforceable provisions void in their entirety.

These proposed changes are hopefully raising more awareness regarding the issue of arbitrary and meaningless overuse of certain non-compete agreements. Unfortunately, it is not uncommon to see lower wage-earning employees being forced to sign unnecessary and overly restrictive non-compete agreements. However, there have been some positive developments, and three states have already enacted changes to non-compete agreements, including California, Oklahoma and North Dakota.

If you need assistance with a non-compete agreement, or other employment matter, 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.


Lighten Up Arlington via Rethink Energy

This regularly-scheduled sponsored Q&A 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. Got a question? Email us at [email protected]!

It’s no secret that fall is starting to surrender itself to winter. Not only have temperatures dropped, but thanks to Daylight Saving Time the sun is setting earlier and earlier. (Reminder – set your clocks back on 11/6!)  If you ride your bike, walk or run after 5 p.m., you will be doing it in the dark.

Don’t worry, BikeArlington, WalkArlington, and the Rethink Energy Program have your back! Two pop-up events are coming up to give you free LED bike lights, LED light bulbs, and reflective vests. Help us help you to be seen by other road and trail users and to light your home. LED lighting info will also be provided to help you make a switch to more efficient lighting at home.

Lighten Up Arlington will take place from 4:30-7 p.m.:

November 7 — Rosslyn Bike-o-Meter (Intersection of the Custis Trail & Lynn Street)

November 9 — Columbia Pike (Intersection of the W&OD Trail & Columbia Pike)

Stop by, get lit, don some snazzy gear to see and be seen, and make a switch to LED lighting at home.

Did you know?

  • Daylight saving time was an idea to conserve energy by using the sun’s light instead of candles or oil.
  • Benjamin Franklin takes the honor (blame?) for the idea.
  • In 1918 the United States adopted daylight saving time.
  • Hawaii, Arizona and parts of Indiana don’t observe daylight saving time.
  • Parents dread time changes because the shift messes with their children’s sleep cycle.

This is a rare chance to tour a luxury model home to be built in Lyon Village and Ballston.

Tour the model at 2513 11th Street N. in Arlington on Sunday, November 6 from 2-4 p.m.

You can also tour available plots in Ballston at 608 N. Vermont Street and in Lyon Village at 1728 N. Barton Street. For more information visit the website of real estate agent Keri Shull or call 703-436-2191.

Here are more details about the plots:

Lyon Village

1728 BARTON STREET
ARLINGTON, VA 22201

New construction home on a corner lot in the heart of Lyon Village. This craftsman inspired home offers nearly 5,000 square feet on 4 expansive levels. All finishes, fixtures and features are completely customizable to your desired selection. The master bedroom suite has a private balcony, luxurious bathroom and two large walk in closets. The home features gleaming hardwood floors throughout, 10 ft. ceilings throughout the main level, a gourmet kitchen with butler pantry and a private office. The exterior features a covered porch & two car garage. Start customizing your home now to move in Spring or Summer 2017.

Ballston

616 VERMONT STREET
ARLINGTON, VA 22203

608 VERMONT STREET
ARLINGTON, VA 22203

Rare enclave of three (one just went under contract) new construction homes available in the highly desirable location of Ballston. Just a short walk to the new Ballston Urban Center and Metro. These homes will be over 5,000 square feet on 3 expansive levels with luxury finishes & fixtures. The master bedroom suite has a private balcony, luxurious bathroom and two large walk in closets. The home features gleaming hardwood floors throughout, 10 ft. ceilings throughout the main level, a gourmet kitchen with butler pantry and a private office. There is the option to build a loft and options for a loft over the detached garage. Start customizing your home now to move in Spring or Summer 2017.

The preceding post was written and sponsored by Orange Line Living


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