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.
As of November 28, there are 130 detached homes, 48 townhouses and 187 condos for sale throughout Arlington County. In total, 13 homes experienced a price reduction in the past week, including:
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.
Under the direction of Maestro James Ross, the Alexandria Symphony Orchestra presents Home for the Holidays on Saturday, December 17 at 7:30 p.m. (Rachel M. Schlesinger Concert Hall and arts Center) and Sunday, December 18 at 3:00 p.m. (George Washington Masonic Memorial).
ASO welcomes back dancers from the premier dance studio BalletNova to accompany selections from Tchaikovsky’s Nutcracker. Enjoy music from Anderson’s A Christmas Festival, Ellington’s Nutcracker Suite, and selections from Messiah. Soprano Helena Colindres will enchant with classical and popular holiday favorites. This family-friendly program will delight all ages, including a sing-along!
The concert will be presented with no intermission. Vaccinations are no longer required but strongly recommended. Masks are recommended for high-risk individuals. For information based on current health guidelines, please visit our website.
Adult prices start at $20, $5 for youth and $15 for students. Military, senior and group discounts are also available.
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. Video summaries of some articles can be found on YouTube on the Ask Eli, Live With Jean playlist. Enjoy!
Question: How have you seen the Arlington housing market react to higher interest rates?
Answer: I hope everybody had a fantastic Thanksgiving. The results of last week’s Dark Meat vs White Meat poll were impressive. With 559 votes in as of this morning, only three votes separated white meat as the preferred part of the turkey over dark meat! We may have found the only vote closer than a Georgia Senate Race!
National vs Local Market Expectations
With daily news about the nationwide (and global) housing collapse resulting from parabolic price appreciation followed by parabolic interest rates, I want to use this week’s column to check-in on what we’re seeing locally and remind everybody that what you read in the news is generally going to be the most attention-grabbing data points and that our market is likely to experience a much more modest correction than many other markets nationwide, as we saw during the Great Recession.
My Take on Local Pricing Behavior
I shared some detailed thoughts and observations last month in a column addressing price drops in Arlington and the TL;DR version is that 1) yes prices have dropped relative to their peak this spring, 2) there’s not nearly enough data available locally to say with any statistical confidence how much that drop has been, and 3) my observation was/is that market-wide in Arlington we’ve lost most/all of the appreciation we saw in the first 4-5 months of 2022, but 2021 prices are still mostly holding up.
Keep in mind that in a volatile, low inventory market (current state) pricing is more randomized and case-by-case than it usually is, so you’ll see plenty of individual examples that buck the aggregated trends/assumptions.
Underlying Arlington Market Performance Data for Detached Homes
This week, I thought I’d share some charts of underlying market performance metrics to help illustrate what our market is experiencing. Here’s how I approached the data this week:
Detached (single-family) homes only. I’ll probably look at condos next week.
Resale data only aka no new construction because performance metrics used in this column for new construction aren’t usually representative of the market.
I used data from 2017, 2019, 2021, and 2022 because I think it offers a helpful snapshot of recent Arlington markets to compare 2022 to. 2017 was our last “normal” market because Amazon HQ2 was announced Nov 2018 and that sent data in unusual directions. 2019 was the first full year with the Amazon bump, but pre-COVID market, and 2021 was a full year of COVID frenzy buying with normal seasonal behavior (2020 was totally out of whack on seasonality).
All data is presented by the month a home was listed in so we can measure how home sales performed based on the month they came to market instead of the month they closed (closed data is a lagging performance indicator).
Net Sold = Sold Price less Seller Credits
**An important caveat to this data is that I either did not use or must caution your interpretation of this year’s September, October, and November data because it is incomplete for purposes of this analysis. There are 15, 22, and 19 homes actively for sale that were listed in September, October, and November, respectively, which will have a significant influence on the performance metrics for those months when they do contract/close and most likely will result in worse performance metrics than those months currently show.
Note there are 2 homes for sale listed in each month May-July and 7 for sale from August that will likely pull down the performance metrics for those months once they contract/close, but not enough for me to be concerned about the resulting data being presented for those months.
Net Sold Price to Original Ask down 9.3% in 6 Months
The average net sold to original ask dropped from a March peak of 105.9% to 96.6% in August. I suspect that once September-November listings close and we can start filling in those fields, we’ll see that number fall further but maybe not significantly because asking prices have started to react to weaker market conditions and many sellers are coming off their expectations for spring 2022 prices.
Of note, this performance metric is coming more in-line with 2017 metrics. I’ll be interested to see if performance metrics stabilize around 2017 numbers, pre-Amazon HQ2, or if they worsen. My guess is that they’ll worsen slightly compared to 2017 through the end of the year and come more into balance in 2023 (pending interest rate movements).
Today, we’re rounding up the four best gifts for the car lover in your life to make your holiday shopping that much easier:
A dash cam. We hope it’ll never come in handy, but it’s always good to have a visual record of the road in case of an accident, making headache-inducing conversations with your insurance company that much simpler. There are many makes and models to choose from, we like this one from Garmin.
A small, battery-powered handheld vacuum cleaner. To keep their car looking its best in between detail services, handheld vacuums come in handy when it’s time to clean up that french fry mess in the back seat! (Bonus — it’s also great around the house for hard to reach areas like in kitchen and bathroom drawers!)
An emergency roadside kit. This one from AAA is fairly comprehensive and will help your loved one in case their car is disabled. Especially with the winter season and big holiday road trips, it’s always better to be prepared ahead of long hauls and bad weather.
A deluxe hand detail from CarCare To Go! There’s no better gift than that new car feeling and now you can give that to your loved ones with gift cards available now.
If your car-loving friend or family happens to be local to the D.C. area, check out our holiday gift guide to shopping local for more ideas on how to shop for them or any other loved one in your life while also supporting local businesses.
This sponsored column is by Law Office of James Montana PLLC. All questions about it should be directed to James Montana, Esq., Doran Shemin, Esq., and Laura Lorenzo, Esq., practicing attorneys at The Law Office of James Montana PLLC, an immigration-focused law firm located in Falls Church, Virginia. The legal information given here is general in nature. If you want legal advice, contact us for an appointment.
The pointy-headed boss is just grateful that he can grow a beard.
There’s plenty of immigration news this week, and plenty of business to do, but the point of Thanksgiving is to stop, just for a moment, to take stock and appreciate the blessings we all have.
“To these bounties, which are so constantly enjoyed that we are prone to forget the source from which they come, others have been added, which are of so extraordinary a nature, that they cannot fail to penetrate and soften even the heart which is habitually insensible.” These were the words of President Lincoln at an extraordinarily difficult Thanksgiving. In our own small way, we want to try not to forget.
We are particularly grateful, this year, for the skills and industry of Mr. Gabino Marquez Cabrera, who helped us to build out our office space. Mr. Marquez Cabrera did his work on time, on budget, and with a level of craftsmanship that even the pointy-headed boss can appreciate. We hear that some people have been having trouble finding contractors. Mr. Marquez Cabrera is the solution to that problem, and can be reached at (571) 575-3528 or [email protected].
This door wasn’t here before Mr. Marquez Cabrera installed it perfectly.
We are also very grateful for the work of Jack Lenehan, who developed and maintained our new website. Jack is a fancy front-end dev, and (I believe) is well, well beyond making websites for college buddies, so this isn’t a business plug for him. We’re just grateful he was able to help us out. If you’re a fancy Silicon Valley person not named Sam Bankman-Fried, check out Jack’s work here.
Jack Lenehan knows what’s up.
Finally, the pointy-headed boss wants to express his thanks to Doran Shemin and Laura Lorenzo, the other lawyers at our happy little operation. Doran and Laura put in long hours to help hundreds of families every year. I’m grateful, on their behalf, for them.
Yes, we’ve used this picture before. So sue me.
Don’t ask any questions about immigration this week. We’re busy eating leftover turkey sandwiches, and you should be, too. We’ll be back in a fortnight for more honest coverage of immigration law in our area.
Arlington has hundreds of businesses and nonprofits with a dedicated mission of positively impacting society, workers, the community and the environment.
Many make community outreach, sustainability and equity an integral part of their business model. Only a handful, however, have achieved the coveted Certified B Corporation status.
Companies become Certified B Corps only when they receive certification from B Lab, a nonprofit company that measures its social and environmental performance against the standards in its B Impact Assessment (BIA) in five impacted areas: Environment; Community; Customers; Governance and Workers. A company must score 80+ out of 300 to qualify for the full B Corporation Certification.
The Certified B Corporations in Arlington are:
Area 2 Farms — certified since December 2021, the organization brings farmers to your neighborhood.
Connective Impact — an advisory company that connects nonprofits, private sector leaders and government agencies together to build more partnerships and collaborations.
Fors Marsh Group — a market and consumer research and strategy firm that works with leading companies and federal agencies that seek to disrupt markets, understand or influence behavior, and drive action on a national and global scale.
Grey Market Labs — a leading cybersecurity research and development and product company with a mission to protect digital life.
Public Democracy — a data solutions and market intelligence company on a mission to develop better data and more meaningful AI systems that reflect users’ values, support their priorities and allow them to better share in the value of the data they create.
Serendipity Creative — a woman-owned, purpose driven creative design and branding company.
These Arlington companies join a global community that includes 400,000 workers in over 5,000 Certified B Corps across 80 countries and 155 industries with a shared mission to prioritize people and the planet in everything they do and to balance profit with purpose. It is not easy to become a Certified B Corp. Companies must go through an intensive, months-long process to provide the necessary supporting documentation to B Lab, which measures and validates their entire social and environmental performance.
Companies are very proud of the recognition and are willing to go through the rigorous certification process to demonstrate their dedication to a higher standard of business practice. Fors Marsh Group’s CEO, Ben Garthwaite said after the company received its recertification in 2021, “This recertification affirms our standing as a people-first company, committed to impactful work and continuous growth.”
Research has shown that an increasing number of employees, especially millennials, prefer to work for a mission-driven company. In a job market where employers are continuously competing for talent, the Certified B Corporation emblem is often displayed prominently on a company’s website as a recruitment tool. The emblem may provide an edge for the company when it comes to hiring by attracting people that share the same values.
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.
As of November 21, there are 137 detached homes, 47 townhouses and 195 condos for sale throughout Arlington County. In total, 27 homes experienced a price reduction in the past week, including:
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.
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. Video summaries of some articles can be found on YouTube on the Ask Eli, Live With Jean playlist. Enjoy!
Happy Thanksgiving ARLnow!
On behalf of all ARLnow readers, the Eli Residential Group has donated to the wonderful Arlington Food Assistance Center (AFAC) whose mission is to feed our neighbors in need by providing dignified access to nutritious supplemental groceries. AFAC is a 4-star, top-rated charity on Charity Navigator and is a worthy organization for your holiday giving.
I spend a lot of time on housing data every week, but this week I’d like to address the important question — do ARLnow readers prefer white meat or dark meat turkey on their Thanksgiving plate? AND do you know the data behind your decision?
I’m all dark meat on my Thanksgiving plate, but now that we’ve started to dabble in smoking our turkey, I’ve found white meat slightly more edible. Nevertheless, my vote is firmly dark meat! What say you, ARLnow?
What’s an Ask Eli column without a data table to help us make our decisions? Here are the results of many minutes of research on white meat vs dark meat:
I hope everybody has a wonderful and safe Thanksgiving with family and friends!
If you’d like to discuss buying, selling, investing, or renting, don’t hesitate to reach out to me at [email protected].
If you’d like a question answered in my weekly column or to discuss buying, selling, renting, or investing, please send an email to [email protected]. To read any of my older posts, visit the blog section of my website at EliResidential.com. Call me directly at (703) 539-2529.
Video summaries of some articles can be found on YouTube on the Ask Eli, Live With Jean playlist.
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
A walkable, urban district, Crystal City-National Landing is minutes from the center of Washington, D.C., the Pentagon and attractions around the region. An urban neighborhood located in the southeastern corner of Arlington, Crystal City offers stunning views of D.C., great restaurants, cafes and specialty stores. Crystal City-National Landing blends the best of both city living and urban outdoors.
Prior to its current state, the land of Crystal City was devoted to industrial and commercial activities. In essence, it was an extension of the Potomac Rail Yard to the south in Alexandria. Under the supervision of Charles E. Smith, heavy development began in the 1960’s and the Crystal City landscape was transformed and repurposed as a mixed-use environment.
Crystal City-National Landing is different from other urban neighborhoods. Beneath its streets, Crystal City offers a space age shopping experience at the Crystal City Shops. Visitors and residents can dine, shop and get to the Metro without having to go above ground. This isn’t to say that there isn’t anything above ground either. There is a variety of restaurants and shops on the ground level as well.
Life in Crystal City-National Landing isn’t strictly commercial. Crystal City residents live in close proximity to the 18.6-mile Mt. Vernon Trail, which is ideal for those looking to get closer to the Potomac. Crystal City is a very active community to say the least, and there is something to do for everyone. From farmers markets to weekly 5Ks, Crystal City is a convivial community of good spirits and pleasant diversions.
Rt. 1 and the G.W. Parkway are easily accessible but having a car isn’t necessary in Crystal City. Crystal City itself is situated around the Crystal City Metro Station, which is also connected with the VRE. No need to take a cab to the airport here: Reagan Airport is less than two miles away. Crystal City is a commuter’s paradise.
For 40 years, McEnearney Associates has been a premiere residential, commercial and property management firm with 11 offices located in the Washington metro region. With service excellence, hyper-local expertise, powerful data insights, innovative technology and cutting-edge marketing, McEnearney Associates have helped their clients make informed decisions on their most valuable real estate investments. There is an important difference at McEnearney: It’s not about us, it’s about you. To learn more, visit us at www.McEnearney.com.
I’m going to make it easy for you. The typical Thanksgiving dinner is a culinary hodgepodge and a sommelier’s biggest challenge. So the goal here is to wash it all down deliciously.
Don’t get me wrong. I love Thanksgiving dinner! My Mom, the Goddess of Thanksgiving, rocked it better than anyone. Her green bean casserole, believe it or not, was delicious. Mom’s stuffing was a delightful moist conglomeration of steer liver, onions, butter, toasted bread, and Bell’s Seasoning. I can still taste it. Her twice-baked stuffed potatoes were to die for, with their crusty paprika-laced exteriors that encased a garlicky, velvety, creamy lusciousness. And then there was her home-orangy-tangy cranberry sauce, OMG!
Here’s the key to selecting your perfect Thanksgiving wine. Any “sweetness” on the Thanksgiving table will clash with a “bone-dry” wine. Cranberry sauce is “sneaky.” It changes the entire dynamic of the meal. Every year for the last 44, I have risked life, limb, and liver to find the Holy Grails of Thanksgiving Wine.
Holiday dinner (Photo by krakenimages on Unsplash)
Check out shoparrowine.com, place an order and let us do the rest. We will even bring it to your car! We have designated free parking just behind Arrowine. What could be easier?
This list is foolproof. If you can’t make it to Arrowine, use my suggestions as a reference.
And the envelope please…
Le Berceau Blanquette de Limoux NV, France: $14.99
Every celebration should start with a fizz. And at $14.99, this dry and complex Methode Champanoise hits the nail on the head.
2021 Domaine du Pas Saint Martin, Le Vent Dans Les Saules, Anjou France: $19.99
This 100% Dry Chenin Blanc from the Loire Valley is brimming with opulent flavors of sliced apples, spiced pears, tangerines, and a vibrant palate-cleansing mineral finish.
The “Other White Burgundy” on the nose is kumquat and nectarine, with just a hint of lemon zest. The palate adds lime and Japanese yellow plum with a refreshing cleansing and mineral finish.
This wine has soul; it’s richly flavored, mineral, and complex. The palate has laser-like flavors of wet stone, crushed seashells, and fresh sweet butter. The finish is long and lingering.
2021 Margerum M5, Los Olivos, California: $25.99
This White California Rhône Blend is a “no-brainer” for Thanksgiving. A skillful and brilliant blend of Grenache Blanc, Marsanne, Roussanne, Viognier, and Picpoul Blanc with aromas of apricots, white florals, and flavors of apple and peach nectar with a zippy finish. Poetic.
2021 Valle de Inez Pinot Nor San Luis Obispo, California: $21.99
Doug Margerum crafted this complex, bargain Pinot. It has structure and complexity and is drier than most — a “serious” Pinot from California at a price.
2021 Ken Wright Cellars, Pinot Noir, Willamette Valley, Oregon: $29.99
This wine is a textbook Willamette Pinot. It checks all the boxes and more. Lots of cherry fruit, smooth and sensual. A delight to drink, delicious.
2021 Domaine Laurent and Romain Pillot Bougogne, France: $24.99
My go-to Bourgogne for over 15 years, no one does it better, and a price that is impossible to beat for the “Real McCoy.” Supple, medium-bodied, and loaded with crystalline strawberry/mineral fruit. A winner.
2021 Melville Pinot Noir, Santa Rita Hills, California: $44.99
Complex and satisfying, Melville delivers. Lots of cherry/strawberry fruit and well-integrated oak make this supple Pinot a stand-out.
2020 Lafond Lirac “Roc Épine” Rhône Valley, France: $22.99
If you like a gutsy Côtes du Rhône, this Lirac is richer and more complex. This wine is spicy, smooth, and a joy to drink!
Happy Thanksgiving from the Arrowine Family to yours,
Doug Rosen
