Author: ARLnow.com Sponsor

Just Reduced Properties in Arlington

By ARLnow.com Sponsor

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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.MrArlington.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.

Tax Day 2016 is in the books… HOORAY!

If you already own a home, you’ve likely taken advantage of the tax credits made exclusively available to homeowners. And, if you don’t own a home of your own quite yet, just know that there are some benefits when it comes to Uncle Sam.

In 2016, there were tax breaks pertaining to home mortgage points, property taxes, energy efficiency, renewable energy and private mortgage insurance, among other things. While these tax breaks may not be THE reason to buy a home, they certainly don’t hurt.

So, as you gear up for Tax Season 2017 (it’s never too early to start prepping) and look to possibly purchase a home this year, don’t forget about the tax perks you’ll have in store.

This week, as of April 17, there are 225 detached homes, 45 townhouses and 301 apartments for sale throughout Arlington County. In total, 61 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: Purchase with Less Cash Using a Seller Subsidy

By ARLnow.com Sponsor

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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: I’m hoping to buy my first home soon and saving enough cash is the biggest hurdle. Are there any strategies to limit the amount of money I need to save?

Required Cash to Buy

In order to purchase a home, you’ll need to have cash funds available for your down payment and closing costs. The down payment is based on the type of loan you choose, with the most common down payment amounts being 0% (Veteran Affairs loan), 3% (FHA), 5%, 10%, 20%, or 25% of sales price. Closing costs commonly reach 2-3% of the sales price and include things like taxes, title insurance, and lender fees.

Reducing Closing Costs

If you believe there’s room to negotiate on the home you’re making an offer on, you can negotiate that discount in the form of a seller subsidy (aka seller credit) instead of on the sale price. The subsidy will be credited directly against your closing costs, but any amount over your closing costs will go unused (cannot be credited against the down payment).

For example, if the home is listed for $500,000 and you believe you can negotiate a 2% discount (average discount from list price in Arlington over the last 12 months), you can target a $500,000 sale price with a $10,000 seller subsidy instead of a $490,000 sale prices and no subsidy. The seller receives $490,0000 from the sale either way. You reduce the amount of cash funds required to purchase by $10,000 (projected closing costs of $10,000-$15,000), but increase your total loan amount by $10,000. For many cash-strapped buyers, the benefit of reducing the immediate cash requirement outweighs the long-term cost of increasing the loan amount.

Let’s say it’s the first week a home is on the market and the seller refuses to negotiate on the price…there’s still an option. Using the example above of a $500,000 home, you can increase the sale price offer to $510,000, but include a seller subsidy of $10,000 so that the seller still nets the full asking price. Use this strategy with caution. Sellers may be hesitant to agree to the increase in sale price if there’s a concern that it won’t appraise for that amount. The implications of an appraisal being less than the contracted sale price put the seller at risk, but I’ll need another column to fully address that topic.

By including a seller subsidy, the sale price remains higher than it likely would be without it and there are some minor changes to overall costs based on items calculated as a percentage of sale price including recording fees, capital gains, and commission. The net effect on these is small relative to the transaction, but worth noting for both buyer and seller.

Before deciding how much of a seller subsidy you’ll ask for, be sure to get an estimate sheet from your lender, which will include estimated closing costs. Make to tell them what you’re using it for and confirm they haven’t left any closing costs or pre-paid items off. Remember, if the amount you get from the seller exceeds your closing costs, in most cases, it’ll go unused so I always recommend that my clients target a subsidy equal to just 90-95% of the estimated closing costs from the lender because the numbers can fluctuate in either direction.

As a buyer, would you prefer to reduce the amount of cash you need or keep your loan amount as low as possible?

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.

 

Kids Learn Sewing Skills at The Finishing School in Falls Church

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In the heart of Northern Virginia, The Finishing School has gained a reputation for providing an outstanding place for learning sewing skills.

Many children and adults have been privileged to receive instruction at The Finishing School, which is located in Falls Church.

Classes are offered all year. During the school year, hour-long children’s classes are available in the afternoons on weekdays and on Saturday mornings. Day camps during holidays and trial classes are also an option.

During the summer months, a ten-week-long summer session runs from the end of June through the end of August. There are weekly summer camps available for five days a week as well during this time.

Mother/daughter sessions are scheduled on Saturday afternoons, while birthday parties are scheduled for Sunday afternoons.

Students will thrive in a positive, social and creative environment. Students learn the basics of machine sewing, serging and understanding patterns. They will make fun and useful projects including: shorts, aprons, oven mitts, dresses, skirts, tops, pajamas, bath robes, bags, holiday decorations, pillows and quilts just to name a few!

The class structure allows new students to join at any time!

A variety of adult sewing classes are also offered, from beginning to advanced levels. Choose from our collection or bring your own. Sign up for a series or one class at a time.

Sign up today by emailing [email protected] or call 801-664-4108.

The preceding post was written and sponsored by The Finishing School.

Legal Insider: Federal Government Finalizes Same-Sex Leave Rights

By ARLnow.com Sponsor

Berry&Berry2

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

The federal government issued a final rule, which is effective on May 9, 2016, completing regulations providing same-sex spouses with the same rights under the Family and Medical Leave Act (FMLA) as opposite-sex spouses. The FMLA rights had previously applied only to opposite-sex marriages. An interim version of these rules had been in place for federal employees since 2013. The change, along with other benefits adjustments instituted by the U.S. Office of Personnel Management (OPM), is a result of the June 26, 2013, U.S. Supreme Court decision, which struck down the Defense of Marriage Act.

The FMLA permits federal employees to take up to 12 weeks of unpaid leave in a year in connection with the birth of a child, adoption, the care of a spouse with serious health conditions, for personal serious health conditions, and for matters involving family demands that relate to a family member’s active duty service. In addition to leave, same-sex spouses have also been eligible since 2013 for other federal employee benefits, such as coverage under health care and other insurance programs and eligibility for retirement annuity survivor benefits. OPM has provided a synopsis of answers to questions regarding such benefits here.

OPM and the federal government have moved relatively quickly following the U.S. Supreme Court’s ruling in 2013 to make changes to comply with the law for same-sex spouses. Future adjustments by OPM and other federal agencies can be expected as they comply with the law.

We represent employees in employment matters. If you need assistance with a federal retirement or an employment issue, 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.

WWBG: Michigan’s Second Largest Brewery

By ARLnow.com Sponsor

Weekend Wine and Beer Guide logo

Editor’s Note: This biweekly column is sponsored by Dominion Wine and Beer (107 Rowell Court, Falls Church). It is written by Garrett Cruce, a Cicerone Program Certified Beer Server.

Founders Brewing Company opened in 1997 as Canal Street Brewing Company by home brewers Mike Stevens and Dave Engbers in Grand Rapids, Michigan.

The name changed gradually because the original label for Canal Street showed an old photo that prominently featured the word “founders” on it. That was enough to lead to a name change. Though still considered a craft brewery by the Brewers Association, in December 2014 Founders merged with Mahou-San Miguel giving them a 30% stake in the company to allow them to continue growing

Since opening its doors, Founders has increasingly become one of the most influential breweries in Michigan, if not the United States. In fact, as of April 2016, the Brewers Association ranked Founders Brewing Company the 20th largest brewery in the United States, just eight places away from the 12th ranked Bell’s Brewery, the only other Michigan brewery in the top 50. Their recently released KBS (Kentucky Bourbon Stout) has appeared in Beer Advocate’s top ten beers list. The brewery has been honored by ratebeer.com as among the best in the world and they have been well recognized at the Great American Beer Festival in Denver, Colorado.

All this success has made their beers desirable around the country. Their growth has allowed them to expand into markets across the U.S., allowing fans of their vaunted beers to get them locally. In fact, though already in Virginia and DC, they plan to distribute in Maryland and Montgomery County in the near future.

Founders brews seven year round, three seasonal, five specialty and four limited beers. I want to share some these.

0C691507-EBF6-44E7-8D92-9638B549D998-8252016 Kentucky Barrel Stout (KBS) (12.4% ABV)

Dominion Wine and Beer recently held a release event for this vaunted “limited” beer, and craft beer lovers lined up to get their bottles. Packaged in 12 ounce bottles, this strong stout should be enjoyed a little bit at a time. With an aroma of tootsie rolls, this sweet coffee, chocolate stout tastes very strongly of alcohol. This just reminds you to sip this special beer and savor it.

AEEBF250-1DEA-4956-AE2B-D4A2DD9EFB36-825Imperial Stout (10.5% ABV)

This syrupy “specialty” stout is a completely different experience from the KBS though still a total sipper. Dark molasses and salty licorice rule the aroma, creating an enticing set up for the first sip. At first, I tasted black licorice, but that quickly transitioned to a bitter, roasted dark chocolate. This strong beer is sweet and sip-able, but watch out — it’s smooth enough to drink quickly. Enjoy it slowly, it improves as it warms.

4C5CD72A-7027-49DC-B0CC-DC9FD92C4759-825Mosaic Promise, single hop ale (5.5% ABV)

For a change of pace, try one of Founders’ single-hop beers: Mosaic Promise. Brewed with just one hop, Mosaic hops, and one malt, Golden Promise malt, this seasonal ale just bursts with freshness. Smelling and tasting like brilliant pine sap, Mosaic Promise is a dank ale that cleanses the palette and really refreshes. The Golden Promise malt takes a back seat to the dominant hops, which is just fine with me. With such a relatively low ABV, you can enjoy a couple of these in an evening without guilt.

71611A24-86DA-4672-8272-12352D879C7D-825All Day IPA (4.7% ABV)

Founders’ session ale is one of their seven year-round beers. Generally, session ales have to try harder because they are trying to replace a stronger style of ale. All Day is an effortless IPA, with a huge floral aroma that becomes a piney delight in the sip. I found this light alcohol beer to be quite satisfying, even delicious. I had a can, which comes in 15 packs, but you can also find this refreshing brew in bottles. Make sure to have some on hand as the weather warms.

Just Listed in Arlington

By ARLnow.com Sponsor

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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.”

Arlington’s real estate market this week is a repeat of last week’s strong activity. Some 100 new listings came on the market ranging in price from $160,000 to $3 million, and 72 homes sold in nearly the same price range. This weeks batch of new listings offers a lot of detached homes in the mid-price range of $650,000 to $950,000.

The frenzied buying activity of last week cooled this week. Last week, 34 homes sold within 7 days, while this week only 18 homes sold within 7 days.

Mortgage rates dipped again this week ever so slightly. The 30-yr fixed rated is now about 3.72%. It’s still a great time to refinance if you haven’t done it already. A general rule is that it’s probably worth the hassle and cost of refinancing if you can shave 0.75% (3/4 of 1%) off your rate.

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

Listing of the Day: 2720 S. Arlington Mill Drive, Unit 616

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2720 S. Arlington Mill Drive, Unit 616
Shirlington Village Condominium
Listed: $589,900
Open house: Sunday, April 17 from 1-4 p.m.

Come home to the only condo building located in the heart of vibrant Shirlington Village.

This 1,300+ square foot Arlington condo overlooks Four Mile Run, the W&OD Trail, and Jennie Dean Park. An open and rarely available floor plan, this unit features two bedrooms, two full baths and a den with full-sized washer and dryer. A wall of windows greets you as you enter the bright and wide living space.

The original owners have kept this home in model-like condition. The kitchen boasts 42″ cabinets, granite counters, a new refrigerator and a (rarely-used) dishwasher. Bathroom tiles have been upgraded and there is hardwood throughout all the living areas. Included with the condo is one full-size garage parking space that is elevator-accessible. Lots of additional parking can be found in any one of the five public parking garages throughout the Village.

Rated one of the most walkable neighborhoods in Arlington, you are only steps from the Tony award winning Signature Theatre, library, dining, shops, a newly renovated AMC movie theater, and 24-hour Harris Teeter. Shirlington is very pet friendly due partly to its popular half-mile dog park along Four Mile Run, Dogma Bakery and the new Shirlington Animal Hospital. DC is less than 10 minutes away via direct access to 395 and the Shirlington Transit Station is your quick connection to Metro.

The condo building’s amenities include a newly renovated gym with free-weights and top of line cardio equipment, a beautiful 25′ outdoor pool, library with WIFI, 3 elevators, a social room and on-site management.

Visit this beautifully appointed and conveniently located home this Sunday from 1-4 p.m. at the open house or contact Ginger Harden at 703-963-5440 to set up your private showing. See more at www.shirlingtonrealestate.com.

Rental Trends: Five Characteristics of a Trustworthy Property Management Company

By ARLnow.com Sponsor

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This biweekly sponsored column is written by the experts at Gordon James Realty, a local property management firm that specializes in residential real estate, commercial real estate and home owner associations. Please submit any questions in the comments section or via email.

You’ve decided you to hire a professional property management services company for your investment property and you can almost feel the relief of being able to hand off the landlord tasks to a pro.

But first, you have to find a firm you can trust.

How can you find a company that will do what they promise, keep you in the loop, and remain professional, so you can actually have fewer hassles, not more?

Here are five things to look for and ask about:

  1. Open Communication and Reporting

Your property manager should provide you with easy access to all contracts, lease agreements, expenditure reports, and any other documents related to your rental property. Selecting a tech-savvy property management company that offers secure, online access to your documents with real-time updates will allow you to check in on property activity anytime. Responsiveness is also key. When you contact your property manager with questions or issues, you should get honest, prompt answers.

  1. Transparent Contracts

The management agreement should be clear and easy to understand along with an outline of what services are included and anything that would be considered extra, so there are no surprises. A trustworthy company will also willingly go over their process and procedures for handling each stage of the leasing cycle so you can ensure you’re comfortable with the way they work.

  1. Fees

You can expect to pay a monthly management fee, as well as a leasing fee, if the property management company will be responsible for finding tenants for your investment property. Typical fees are 7 to 10 percent of the monthly rent for management and 70 to 100 percent of one month’s rent for leasing.

Be aware that companies that charge lower fees may make up for it by adding fees to contractor’s invoices and charging additional fees for services you assume are included, costing you more in the long run. Also check to see if the company collects fees when the property is vacant or only when rent is being paid.

  1. Credentials

What kind of experience does the property management company have with properties that are similar to your rental property? How well do they know the market in your neighborhood? Any property manager should be licensed or certified as required by local law. And a company that values continuing education and training is most likely to stay up on current best practices and new laws, allowing them to successfully manage your investment property.

  1. References

Property management companies should be able to provide you with multiple references or a list of addresses they manage. These references will give you a good idea about the strengths and weaknesses of the company and a feel for the types of clients who hire the company. You can also drive by a few of the properties to see if they look well maintained.

The feedback you get from references, along with other information provided by the company, should make you feel comfortable about delegating the management responsibilities for your property. If you aren’t comfortable, keep looking.

Trust is key to creating a successful relationship with your property manager and a positive investment experience for you. These links offer more in-depth information on interview questions to ask during your search and ways to create a successful relationship with your management company.

If you’re contemplating a property management company and would like some advice, we’re happy to help.

Free Home Buyer Seminar April 16 & 18

Orange Line Living logoThree percent off the list price guaranteed or we pay you the difference in cash and if you don’t love your new home we will buy it back or sell it for free for 12 months exclusive to event attendees only*

The Orange Line Living and Keri Shull Team are hosting two Free Home Buyer Seminar events on April 16 and 18.

The events will have specialists on hand, including lenders and buyer agents, to give you an overview of the buying process. They have also partnered with special guest speaker Elysia Stobbe of NFM Lending to give tips on how to get the best mortgage. She will also be raffling away her #1 Best Seller on Amazon “How To Get Approved for the Best Mortgage Without Sticking a Fork in Your Eye” to all attendees.

Elysia has 12 years of experience in the industry of home mortgages and has closed more than 250 million in residential mortgage loans. She has been interviewed by the Wall Street Journal and the Washington Post about her mortgage lending expertise.

Not only will you get a complete home buying overview but you will learn our valuable home buying strategies that will save you 3% or more when you purchase along with ways to get the best mortgage.

The Orange Line Living and Keri Shull Team together have helped over 200 families purchase homes in 2015. Together, they are the #1 real estate team in Arlington and #1 real estate team in Virginia by volume. Also, not forgetting to mention top 5 in the D.C. metro area as well. Their aim is to help even more families find their dream home in 2016 and you have the opportunity to be one of those people.

Details:

When: April 16, 2016 from 11 a.m.-1 p.m. & April 18, 2016 from 6-8 p.m.

Where: Optime Realty, 1600 Wilson Blvd, Suite 101, Arlington, VA 22209

Cost: Free

Parking: Validated Parking or Street Parking

Food: Appetizers and Drinks

Contact: [email protected] or call 571-969-7653

Space is limited so you don’t miss out. To register, go to www.vipbuyerseminar.com or email [email protected].

The preceding post was written and sponsored by Orange Line Living. * terms and conditions apply

Ten Questions to Ask Yourself When Planning for Financial Security (Part 1)

By ARLnow.com Sponsor

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This is a sponsored column provided by Thomas C. Block a financial representative with Asset Management Group, Inc. courtesy of Massachusetts Mutual Life Insurance Company (MassMutual). Please submit your questions to him via email. 

When thinking about how to protect your livelihood or build the financial resources you will need to live life as desired, it often starts with clarifying what you want to achieve, what you value and how uncertainties can affect plans and aspirations.

To get you on the road to financial security, here are questions 1 through 5 you’ll want to ask first.

  1. What is important to me?

Clarify what’s truly important to you – the people you care about, the aspirations you have, the things you want to protect, and the support you’d like to give to others. Whether you reflect on this question by yourself, with family members, or alongside a financial professional – answer this first, as it will create the framework around which your financial strategy can be built.

  1. Who depends on me today and who might depend on me tomorrow?

This question should be at the core of your decision making process and should be answered well before you consider what you may need. Spouses, partners and children are often thought of as the most obvious dependents; however, there can be others – for example, parents, in-laws or siblings who, due to age, disability, or other circumstances, may be unable to care for themselves. Even individuals without a family have dependents – namely, themselves – since their well-being depends on their own ability to earn an income. With your list of current and potential dependents in hand, you will be better prepared to plot your course toward greater financial security.

  1. Who is providing for my dependents now?

Does someone in your family provide valuable non-financial support to those you care about? Think of the stay-at-home parent – they may not support their family with earned income, but the support they do provide is just as valuable as any paycheck. If a stay-at-home parent were unable to provide that support, it would surely be expensive to replace. Account for all who provide essential financial or non-financial support to your dependents.

  1. What risks have I overlooked or not fully considered?

People may concentrate on the risk of premature or accidental death and overlook other risks to their well-being and livelihood (for example, a breadwinner unable to work due to illness, an aging parent unable to care for themselves, a retiree dealing with rising healthcare costs, a business owner faced with a succession problem). As you work to construct your strategy, be sure to think broadly about the financial risks you face today, or may face in the future.

  1. Are my plans flexible enough?

There are ways that financial product solutions can be structured to provide future flexibility and adjust with your evolving needs. When speaking with your financial professional, ask about flexible solutions that can be upgraded (or downsized) as events in your life unfold.

Make sure you come back to my column on April 27th 2016 to read part 2.

Provided by Thomas C. Block a financial representative with Asset Management Group, Inc. courtesy of Massachusetts Mutual Life Insurance Company (MassMutual). Thomas Block AAMS, AWMA, CRPC is a registered representative of and offers securities and investment advisory services through MML Investors Services, LLC, Member SIPC, 3975 Fair Ridge Drive, Suite 315N, Fairfax, VA 22033, Tel: (703) 218-6765 . Local sales agencies are not subsidiaries of MassMutual or its affiliated companies.

© 2016 Massachusetts Mutual Life Insurance Company, Springfield, MA 01111-0001. All rights reserved. www.massmutual.com

The following is a required compliance tag: CRN201609-186439

Just Reduced Properties in Arlington

By ARLnow.com Sponsor

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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.MrArlington.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. 

It’s been a busy week!

Not only do we have $400,000 plus in “Just Reduced” savings on this week’s blog, but the Aaron Seekford Team also got some national love with Realtor.com and, subsequently, Fox News.

We’re always looking for ways to help our clients in Arlington County and beyond GET MORE out of their real estate transactions. Whether it’s providing expert insight on a national trend, localized data or home improvement tips, we’ve got your back.

And now, on to this week’s numbers…

This week, as of April 10, there are 220 detached homes, 47 townhouses and 312 apartments for sale throughout Arlington County. In total, 46 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.

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