Author: ARLnow.com Sponsor

Ask Eli: What I’m most grateful for in Arlington

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. Video summaries of some articles can be found on YouTube on the Eli Residential channel. Enjoy!

Answer: The craziness and amazingness of the world has led me to spend more time than usual thinking about how grateful I am for the people and things around me, so I thought I’d share some of the things Arlington offers that I’m most thankful for.

Parks, Trails, and Rec Centers

No matter where you live in Arlington, you have access to an incredible network of trails, parks, and rec centers for endless outdoor enjoyment that costs nothing. For me, commuting by bike on the Mount Vernon Trail along the Potomac River with iconic views of D.C. (when I had a commuting job), to pajama-wearing strolls with my son along the Bluemont Trail enveloped by fireflies, to sunrises over the blossoming tulip garden at the Netherlands Carillon, and all of the playgrounds that have filled weekend afternoons for our family are just a fraction of the joy I’ve gotten from the public spaces in Arlington.

Diversity of Great Food

Arlington itself offers wonderfully diverse cuisines and when you add neighboring jurisdictions of Washington, D.C., Annandale, Alexandria, and Falls Church to the mix we have access to delicious international cuisine from every corner of the world within 20-30 minutes. It’s a special thing that few people get to experience and shouldn’t be taken for granted.

Some of my all-time favorite Arlington restaurants are Mele Bistro (fantastic ingredients), Brooklyn Bagel (as good or better than any NYC bagel), La Union (papusas), Pho 75, Mussel Bar (cocktails and beer), Quarterdeck (crabs), El Chilango (tacos), Thai Square, Bob & Ediths’s Diner, Silver Diner, Super Pollo, Bonchon, and Texas Jack’s BBQ.

Comprehensive Transportation Network

Being 10 minutes to National Airport and 30 minutes to Dulles Airport is a luxury I will always appreciate. Having such easy access by car to almost all major regional roadways/highways so you can travel in all directions quickly is something that even many of our neighbors don’t get to enjoy. Access to Metro, Amtrak, VRE, bus lines, and a thoughtful trail/bike lane system provide us Arlingtonians with a comprehensive transportation system worthy of our appreciation.

So Many Activities!

Let me take a moment to shout-out the many community engagement organizations like the Rosslyn, Ballston, and National Landing Business Improvement Districts and the Columbia Pike Partnership for bringing us things like farmers markets and movie nights that have helped neighbors meet and build a sense of home in our neighborhoods.

Although just outside of Arlington, we have easy access to some truly incredible vineyards in Virginia wine country, amazing hiking and camping in the Shenandoah Valley, and of course all of Washington, D.C.’s museums and exhibits.

Schools

Our family has gotten to experience Arlington Public Schools first-hand for the first time this year, with our son starting Kindergarten at Barcroft Elementary. I can’t say enough about his teachers and the students/families he/we have met. We have been thoroughly impressed with his development in reading, math, and science thanks to the exceptional Arlington school system.

ARLnow Platform and People

This would be on my list regardless of whether I wrote my weekly real estate column for ARLnow. The Arlington community is lucky to have Scott and his team of awesome reporters and staff reporting daily on such a wide range of important local topics. It keeps us all engaged and informed about the happenings in our community which helps create a better sense of belonging and home for each of us. It is free from the influence and political agenda of a news organization beholden to large advertisers or media groups, which makes it authentically our own. I’m grateful to be a reader and a contributor to such a valuable community asset.

ARLnow Readers

Thank you ARLnow readers for being part of what makes such a crazy and difficult world also so wonderful and energizing. I’m grateful to be part of a community that offers us so much and hope that you all feel the same as we close out 2023. I’d love if you add to the comments section some of what you appreciate most about living and/or working in Arlington.

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 Eli Residential channel.

Eli Tucker is a licensed Realtor in Virginia, Washington DC, and Maryland with RLAH Real Estate, 4040 N Fairfax Dr #10CA

Statutes of Liberty: Federal agencies and immigration — the major players

By ARLnow.com Sponsor

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., Janice Chen, Esq., and Austen Soare, 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.

Anyone who has ever had to file paperwork with a state or federal agency knows that it can be confusing. Where am I sending this application? Who has the power to approve my request? Why does this office handle my application and not the other office?

Immigration is no different. Various federal agencies come into play when it comes to immigration petitions and applications. As always, we are here to help! Here is a breakdown and brief explanation of the agencies (and sub-agencies! And then sub-offices!) that immigration lawyers and immigrants interact with.

First, there is the Department of Homeland Security. The three major sub-agencies within the Department of Homeland Security that we deal with are (1) U.S. Citizenship and Immigration Services; (2) Immigration and Customs Enforcement; and (3) Customs and Border Protection.

(1) S. Citizenship and Immigration Services, or USCIS, is a benefit-processing sub-agency. USCIS accepts and adjudicates all types of immigration applications, including work permit applications, green card applications, and naturalization applications. USCIS is not an enforcement agency. USCIS also houses asylum offices, which only adjudicate asylum applications. There are many field offices and asylum offices around the country that conduct applicant interviews. In Virginia, we have two field offices: the Washington Field Office in Fairfax and the Norfolk Field Office. Virginia also has one asylum office in Arlington. The other local USCIS field office close by is located in Baltimore.

(2) Immigration and Customs Enforcement, or ICE, is exactly what it says in the name — an enforcement branch of the Department of Homeland Security. We generally deal with two sub-offices within ICE. First, there is the Office of the Principal Legal Advisor, or OPLA. They are the immigration prosecutors that appear in court and represent the Department of Homeland Security’s position in removal or deportation proceedings.

Second, there is Enforcement and Removal Operations, or ERO. Again, the name basically explains it all. ERO is like the immigration police. They enforce deportation and removal orders and conduct check-ins with people who have been conditionally released from immigration detention. The Virginia ERO office is located in Chantilly. The Maryland ERO office is in Baltimore.

(3) Customs and Border Protection, or CBP, are the border police. They are the agents that review passports at ports of entry, like airports and seaports, to make sure that a person has the correct documents to enter the United States. They also can arrest people that have entered the United States unlawfully if those people are found within a certain distance from a land or sea border. Finally, they also review luggage and shipments to ensure that people are not bringing illegal or problematic items, like counterfeit goods, into the United States.

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Legal Insider: Performance improvement plans for federal employees

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 Melissa L. Watkins, Esq.

Performance Improvement Plans (PIPs) can be a dangerous proposition for federal employees.

Federal employees who realize that a PIP is being considered, should be wary and consult with a federal employment attorney early on to make sure they maximize their chance of surviving a performance related action. In our experience, an employee being put on a PIP is usually heading towards more serious disciplinary action, such as demotion or removal.

Federal employees often will be told that a PIP is only designed to benefit them and make them better performers. Managers often promise employees that they will be given special assistance to ensure they are successful during a PIP period, only for the employees to later find themselves facing a potential demotion or removal some months later having not received any of the promised assistance during the process. In many ways, the deck is stacked against the employee when facing a PIP.

Opportunity to Improve

If an employee is said to be having performance issues, before an agency can take any action to demote or remove the employee, the agency must notify the employee of the concern and give the employee an opportunity to improve. This notification and opportunity to improve is usually accomplished by the agency placing the employee on a PIP. Through the PIP, the agency must inform the employee what performance is not acceptable, what critical performance element(s) are at issue, what standard the employee must meet to be found acceptable, and provide a warning to the employee that if their performance does not reach an acceptable level, the employee could be demoted or removed.

What To Do If Placed on a PIP

There are a few things that an employee can do once receiving a PIP to give themselves the best chance at being successful. Those things include:

  • Providing a response to the PIP. While the PIP doesn’t afford a traditional response process, an employee can always put together a response nonetheless. In such a response, the employee should identify any concerns with the PIP and provide examples, if they exist, of how the employee has been performing successfully on the elements at issue.
  • Don’t wait to start demonstrating improvement. Even if the employee disagrees with the PIP or the alleged performance concerns, the employee should start working on meeting the performance expectations outlined in the PIP. Waiting too long to address the performance issues can sometimes lead to the employee running out of time in the PIP process.
  • Document everything. Once a PIP is issued, one of the employee’s best tools is documentation. For all tasks completed relevant to the PIP, the employee should save documentation showing the task and its completion. The employee should also keep a log of all assistance received and all feedback provided from the supervisor. As mentioned above, if an agency fails to provide feedback or assistance, it can impact the agency’s ability to move forward with disciplinary action.
  • Request an Accommodation. If the employee believes that the performance issues are related to a disability, the employee should request an accommodation as soon as possible. The accommodation will not stop the PIP, but ideally, the accommodation will allow the employee to be better able to meet the performance expectations outlined in the PIP.
  • Keep an eye on the use of leave. An employee can use leave during a PIP period. An employee on approved leave (annual, sick, or leave without pay) cannot be penalized for work that is not completed while on approved leave. Also, if an employee is on leave for an extended time during a PIP period, the PIP period may need to be extended to give the employee a meaningful opportunity to improve.

What Happens After a PIP

If the employee is still performing unacceptably after the PIP period, the next step is usually some type of discipline. The options include reassignment, demotion, or removal. If the employee is proposed for removal, he or she can be removed in a very short period of time after the decision on the PIP.

Given the potential serious implications of a PIP, employees who believe one may be issued, or have received a PIP, should consult with an attorney to determine how best to proceed. Our law firm advises federal employees in various employment matters. We can be contacted at www.berrylegal.com or by telephone at (703) 668-0070.

Biz Talk: Reshaping business investment in 2023

By ARLnow.com Sponsor
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This article was written by Michael Stiefvater, Director of Business Investment for Arlington Economic Development.

The continued prevalence of remote work and the high office vacancy rate shifted how Arlington Economic Development (AED) approached business investment in 2023.

While our team still focused on business attraction and retention, the bread and butter of economic development, we also looked at other ways to boost economic growth and innovation in Arlington. While the tech ecosystem has always been a strength in Arlington, this year, we doubled down on investments and programming to support early-stage entrepreneurs on their path to becoming high-growth businesses in Arlington.

Additionally, we looked at ways to facilitate market-based solutions to our office vacancy issue by removing regulatory barriers. Despite the continuing challenges facing the office market and local economies, AED notched numerous substantial accomplishments in 2023.

This year, we saw D.C.-area companies relocating to Arlington to take advantage of our prime location and transit-friendly, amenity-rich environment. We also saw movement in the international market, with foreign companies basing their U.S. headquarters in Arlington to gain easy access to U.S. policymakers across the river in D.C., the region’s plentiful talent, and the abundant flights to Europe.

Here are some of the business investment highlights from 2023:

  • Amazon HQ2
    • In June 2023, Amazon hit a significant milestone in its headquarters development and opened two office towers at Metropolitan Park in National Landing.
    • November 2023 marked five years since Amazon announced a second headquarters location in Arlington, where its’ local presence has been growing.
  • [solidcore]
    • The fast-growing fitness company moved its headquarters from D.C. to Rosslyn.
  • Microsoft
    • The tech giant opened a significant regional marketing and sales hub in Rosslyn in January 2023.
  • Genetec
    • A Canadian biotechnology company opened its U.S. headquarters in Arlington in October with fireworks over the Potomac.
  • Arqit
    • A U.K.-based cybersecurity company opened its U.S. headquarters in Arlington in early 2023.
  • Air and Space Forces Association
    • Announced a move of its headquarters to expanded space in Pentagon City.

AED’s commitment and investment in our local tech ecosystem is perhaps no better demonstrated than with the new Arlington Innovation Fund (AIF). The Arlington County Board funded AIF with $1M in mid-2023 to support growth in the tech ecosystem in Arlington. AIF includes two components: Catalyst Grants and Ecosystem Support. The Catalyst Grant program awards up to $50,000 for early-stage tech startups to extend their funding runway and expand their customer base, employment and operations. AED will announce the recipients of the initial application round in early 2024.

Beyond the Catalyst Grants, AED is building a more robust tech ecosystem in several ways. In September, we partnered with Unstuck Labs, a Rosslyn-based studio that helps startups validate ideas, build products and launch ventures. AIF also funded the George Mason University Entrepreneur–in–Residence Program, which is bringing on-board successful local entrepreneurs to mentor new founders.

This year, Arlington made key changes to create regulatory flexibility and a nimble approach to combat office vacancy through the Commercial Market Resiliency Initiative (CMRI). By removing regulatory barriers and constraints, the County seeks to enable market-based solutions to address the commercial building supply, specifically repositioning and converting obsolete inventory by allowing more types of businesses to use office space. CMRI will continue to evolve in 2024 and focus on five strategic areas: office conversion, repositioning, redevelopment, tenant support and placemaking.

Other highlights of the year included our tech workforce program moving from a pilot program to a full-fledged program, Arlington Talent. The program, in partnership with Exelaration, had a 100% program completion rate, with most participants transitioning to full-time tech employment. Participants’ average pay and work rate increased by 26% and 38%, respectively and future pay and work rate will continue to rise.

As we look ahead to 2024, our 2023 accomplishments will serve as a base to continue to innovate and grow Arlington’s economy.

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 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 December 4, there are 109 detached homes, 30 townhouses and 145 condos for sale throughout Arlington County. In total, 29 homes experienced a price reduction in the past week, including:

5119 Yorktown Boulevard

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.

Ask Eli: Home buying advice for families with young kids

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. Video summaries of some articles can be found on YouTube on the Eli Residential channel. Enjoy!

Question: Do you have any tips for things to look for when purchasing a home with young kids or kids on the way?

Answer: I’ve been looking for some good ways to introduce some of the fantastic agents I work with at Eli Residential Group and this is a perfect topic for Jean Ropp, mother of a vivacious two year old and her second baby boy on the way! Jean and I have worked together for 3+ years and has been a valuable resource to many of our clients.

She and her husband Matt lived in Arlington for a number of years before buying a townhouse in the Autumn Chase Hunt HOA, right next to Kingstowne in Alexandria, when they found out they were going to be parents. Her personal and professional experience makes her a great person to discuss what families with young kids or kids on the way should look for in a home. Take it away Jean!

As a mother of a 2-year-old and another on the way, I can confirm that when buying a home for your family, it’s not just about bedroom count, location and square footage, so I put together a list of ten things to look for when searching for a home with young kids (based on both personal and professional experience!)

Before you set your search criteria, it’s important to think realistically about your family’s timeline in your next home and determine projected range in the number of years you plan to live in there. Your criteria, budget, expectations, and strategy will likely vary significantly between a home you’re buying for the next 3-5 years and a home you’re buying for the next 15-20+ years. Once you have that range determined, I advise you to consider these things when thinking about your young children in the house:

1. Schools and Daycare: Think about how you will assess schools, not everybody values the same things from their schools. Some tools I use for public schools are greatschools.org and niche.com. Also consider if certain programs are important to you such as language immersion programs, Montessori curriculums, STEM focus, etc. For daycare searches, I recommend carelulu.com and touring the facilities in person ~12 months before you need care because many schools have long waitlists.

2. Safety: You can find good crime statistics at spotcrime.com and crimegrade.org.

3. Yard: Ideally a backyard that is private, flat, large enough for play, and fenced in is preferred (duh!) but this is generally very expensive in our area and can be tough to find in many neighborhoods, so achieving even one or two of these “dream yard” goals is a win. A nearby park or the HOA may have spaces like this that can help you achieve the outdoor functions you’re looking for and come at a much more achievable price.

4. HOA Amenities: Look for community amenities such as pools, playgrounds, tennis courts, trails etc. We spend a lot of our time at our HOA playground and the playgrounds nearby — I don’t know how we would fill our afternoons without it! Community amenities are also a great place to meet other young families in the neighborhood.

5. Lot Location: Try to avoid being directly on/next to a busy road or through street when possible both for safety (small children and pets) and noise (check noise with windows closed and open in kids’ bedrooms). Some roads are easy to tell if they’re busy or not, others you’ll need to keep an eye out for double yellow lines, MPH signs, and check a map to see if it connects traffic from two busy roads. Living near the front of a neighborhood will also result in more traffic passing through.

6. Walkability: Walkability means different things to different people. Walkability to restaurants, shops, and groceries can be very expensive around here but walkability can also mean neighborhood streets with sidewalks or being able to easily and safely reach a park or trail.

7. Storage: Kids accumulate A LOT of stuff of varying size — some indoor and some outdoor. And if you plan on having more than one kid, you may want to save clothes in storage to reuse. Check how much room you have in a garage with your car in it (many garages become storage, not car parking), look at attic access (can you get to it, does it have a pulldown), and look for any areas of the home with dead space where you can add shelving or other storage.

8. Kid-Friendly Floorplans: Try to find a home that allows your bedroom to be on the same floor as your children so you aren’t stumbling up and down steps in the middle of the night getting to a crying child for the fifth time. This area has many split-level layouts (multiple smaller sets of stairs), so be cognizant of this as you look through listing photos and floor plans online because it means more baby gates and difficulty for little ones to navigate the home.

9. Upstairs Laundry: From personal experience, having your laundry on the same level as the bedrooms is a game changer.

10. Windows: Big windows that extend close to the floor are a huge plus for those toddlers (and pets!) to watch the world.

Don’t hesitate to reach out to me at [email protected] or my cell at (781) 635-5530 for any follow-up questions, advice, or additional family-friendly resources I can share with you!

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 Eli Residential channel.

Eli Tucker is a licensed Realtor in Virginia, Washington DC, and Maryland with RLAH Real Estate, 4040 N Fairfax Dr #10CA

Shop local this holiday season at Lee Heights Shops!

By ARLnow.com Sponsor

The holidays are warmer and brighter when celebrated with those you love!

Lee Heights Shops has everything you need with gift ideas from a unique selection of curated shops and dining options — perfect for that special someone.

No matter how long or daunting your list might be, you’re bound to find something for everyone here at the Shops. And you may even discover something for yourself along the way!

We offer a festive experience with a mix of food, fashion, and fun right in the heart of Arlington including:

Enjoy the free parking, convenient UPS shipping, and shop local this holiday season!

Lee Heights Shops is located at 4500 Cherry Hill Rd, Arlington, VA 22207.

Small Business Focus: WHINO, BizArt and Open Rewards — oh my!

By ARLnow.com Sponsor
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This column is sponsored by BizLaunch, a division of Arlington Economic Development.

With the holiday season upon us, many of you will be gathering with friends and family this year, and if you’re looking for a unique venue for your holiday festivities, look no further than WHINO.

Launched in 2021, WHINO is a 6,200-square-foot combination restaurant and art gallery, located on the second floor of Ballston Quarter. Not only is WHINO known for its delicious small plate menu and delightful craft cocktails, but they are also an art gallery and nightlife venue featuring artists from all over the world.

Sounds cool, right? This year, BizLaunch is hosting BizArt at WHINO, on December 11, and YOU’RE invited!

BizArt is our annual networking event in partnership with Arlington Arts, connecting entrepreneurs and creatives alike — resulting in relationships and projects that make a lasting impact. With WHINO’s beautiful gallery of art and murals, we couldn’t have asked for a more perfect backdrop for the event.

Join us at this amazing local Arlington venue on December 11, from 5-7 p.m. for some tasty bites on us and networking connections that will last a lifetime.

But wait, there’s more!

Looking for unique gifts for loved ones on your list? Check out our list of upcoming Holiday Markets featuring many Made in Arlington vendors

When you shop at 1,000+ small businesses on Open Rewards, you can earn 5% rewards when you upload your receipts to the app. Get 5% cash back rewards at WHINO and many other local restaurants on Open Rewards this holiday season.

Plus, thanks to the National Landing BID, shoppers can get an additional 5% if they shop at small businesses in National Landing.

All of us here at BizLaunch, wish you a wonderful holiday season and a prosperous New Year.

 

 

View this post on Instagram

 

A post shared by WHINO (@whinoinc)

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 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 27, there are 116 detached homes, 35 townhouses and 164 condos for sale throughout Arlington County. In total, 16 homes experienced a price reduction in the past week, including:

2432 S Culpeper Street

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.

ASO presents “Holiday With A Twist” with jazz baritone Joshua Banbury

By ARLnow.com Sponsor

Under the direction of Music Director James Ross, Alexandria Symphony Orchestra presents a holiday program “Holiday With A Twist.”

Enjoy this celebration of the season with traditional fare mixed with jazz baritone Joshua Banbury and Alexandria resident and world whistling champion Chris Ullman. The concert features favorites such as A Charlie Brown Christmas, It’s Beginning to Look a Lot Like Christmas, O Holy Night, and excerpts from Harry Potter.

Audiences of all ages will enjoy the interactive elements. The performance will be presented with no intermission.

Both venues provide free parking. Tickets are now on sale. Adult prices for single tickets start at $20 with $5 for youth (18 and under) and $15 for students. Military, senior and group discounts are also available.

Ask Eli: Don’t be fooled by current housing market conditions

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. Video summaries of some articles can be found on YouTube on the Eli Residential channel. Enjoy!

Question: I’ve noticed that the market has slowed down quite a bit the last few months. Do you expect that trend to continue into next year?

Answer: I’d be remiss not to mention the Thanksgiving pie poll results from last week! With 1,043 votes as of last night, ARLnow readers overwhelmingly prefer pumpkin pie (45%) for Thanksgiving, followed by apple (29%), and then pecan (26%). That’s exactly the order I eat my pie on Thanksgiving! Now back to your regularly scheduled programming…

Will The Slow Market Continue into 2024?

Like clockwork, the second half of the year is slower than the first half (except when COVID flipped 2020 upside down) and it gets especially slow in the 4th quarter as focus shifts to holidays, family/friend time, and travel. This period of seasonal slowness consistently succeeds in lulling the market to sleep, resulting in predictions that the prevailing economic/housing headwinds (whatever they may be at the time) will result in a slower/down housing market the following year.

These predictions are consistently wrong and the market usually proves that within the first 2-3 weeks of the new year.

The Data Says Prepare for a Rapid Increase in Demand

The data in the chart below is collected from Arlington sales going back to 2017, sans 2020 data. It shows market performance based on the week that properties go under contract — percentage of properties selling above the original ask, percentage of properties selling at or above the original ask, and the percentage of properties selling with 1-10 days on market (my preferred measure of market speed).

  • The highlight of the chart is how rapidly the market shifts in January, relative to the previous 3-4 months. By the second week of January, the market is moving faster than it has in over four months and by the third week of January, both pricing metrics are higher than they’ve been in roughly six months.
  • Only about 21% of properties that go under contract in the second half of the year are over the asking price, but by the third week of January, 1/3rd of properties sell above the asking price and that price pressure remains in place until summer hits.
  • For buyers in the market, it’s important to also prepare for just how quickly homes will start selling. In the last two months of the year, only 28.5% of homes were going under contract in the first ten days, but that jumps to over 46% by the second week of January and by early/mid February well over 50% of homes sell within the first ten days on market and the pace hovers around 60% through May.

These percentages will vary significantly based on the market conditions of a given year, but the important takeaway is how quickly demand shifts in the new year relative to the end of the prior year. As a reminder, Q4 ’22 to Q1 ’23, a period many predicted would result in a continuation of a slow/down market, delivered us the most significant whiplash effect through a new calendar year we have seen.

You can see a similar rapid shift in annual market conditions from this chart from Altos Research showing the percentage of properties in Arlington on market that have had a price decrease. The steep drops you see start when the calendar turns to January.

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 Eli Residential channel.

Eli Tucker is a licensed Realtor in Virginia, Washington DC, and Maryland with RLAH Real Estate, 4040 N Fairfax Dr #10CA

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