Author: ARLnow.com Sponsor

Just Listed in Arlington

By ARLnow.com Sponsor

Just Listed highlights Arlington properties that just came on the market within the past week. This feature is written and sponsored by Andors Real Estate Group.

Good morning, Arlingtonians, and welcome to JUST LISTED!

Well, the negative economic news continues to weigh heavily on interest rates, and Wednesday’s Fed rate hike marks three in a row at 75 basis points, or ¾%. The reality is that we are approaching, and in some regards have already hit, an affordability ceiling. The 30 year fixed rate mortgage averages 6.29% over the past week according to Freddie Mac, the highest it’s been since October of 2008.

Many like to point out that these rates are reasonable, at least historically. While that’s true, what that sentiment does not take into account is that home prices were hundreds of thousands of dollars lower, and it also does not factor in that incomes haven’t kept up with house prices. So, we do in fact have an affordability problem now that interest makes up such a large share of a monthly mortgage payment.

This is impacting the local real estate market. Sellers feel it, agents feel it, and buyers are, well, missing. Sure, there is some activity, but it is massively impacted by the things I mention above, and transactional volume is down while inventory is rising. The supply and demand equation that drives real estate is shifting, and it is taking longer to sell a home, even in a highly desirable area such as Arlington.

Right now, there are 30 properties in “Coming Soon” status. This does not account for all of the new and upcoming inventory we’ll see hit the market in coming weeks, but it does show that sellers still plan to sell homes this fall, potentially adding to the rising inventory we’ve seen for the past five weeks.

This week in Arlington, sellers listed 61 homes for sale (21 less than last week), while buyers ratified 14 contracts (15 less than last week), just 10 of which were on homes just listed in the last seven days.

Of the 414 homes currently available for sale (20 more than last week), 140 are detached homes, 59 are semi-detached/town houses, and 215 are condos.

Of those currently available properties, the average asking price is $916,448 and the median is $699,950. These properties have been sitting on the market for 52 days on average, while the median is 30.

This week last year, there were 555 properties available for sale, sellers listed 77 homes and buyers ratified 77 contracts. Mortgage rates were 2.88%!

PICK OF THE WEEK — The Andors Real Estate Group is proud to have JUST LISTED 1912 N. Daniel Street, Arlington, VA 22201 — $950,000.

You won’t want to miss this gorgeous brick townhome featuring three bedrooms, two full bathrooms and one half bathroom, loaded with recent updates and renovations. Nearly 2,000sf of finished living space, a gorgeous white kitchen with Calcatta Gold Quartz countertops and brand new stainless steel appliances, hardwood floors throughout, an envious owners suite and an attached one car garage! Note, our team has an ownership interest in this property.

Find my team there this weekend for public open houses, Saturday and Sunday 1-3 p.m.

Click here to search currently available Arlington real estate. If you see a home that you’re interested in purchasing, give us a call! Our team are experts at WINNING when it comes to Arlington real estate — our agents routinely outmaneuver others when it comes to multiple offer scenarios — call us to find out how!

Call the Andors Real Estate Group today at (703) 203-1117 to talk more about buying or selling Arlington real estate. Below are eight properties I think you might light to check out!

5th Annual Shucktoberfest in Shirlington Village set for October 22!

By ARLnow.com Sponsor
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Copperwood Tavern is hosting its 5th Annual Shucktoberfest — Beer & Oyster Festival!

Taking place on Saturday, October 22 from 11 a.m.-5 p.m., the family and dog-friendly festival will feature nearly 60 local breweries, fresh shucked oysters, local vendors, and activities!

We encourage families and friends from all over the Washington Metropolitan area to come out and celebrate fall in the Village of Shirlington!

Tickets are now available and pre-sale purchase is recommended.

Visit our website or social media for more information:@shucktoberfest

Biz Talk: Call for applications for the inaugural Arlington REV Awards!

By ARLnow.com Sponsor

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

For the past seven years, Arlington Economic Development (AED) has recognized the fastest-growing companies in Arlington with the Fast Four Awards. The Fast Four Awards honor Arlington companies that have achieved significant revenue growth over a three-year period.

For 2022, AED is expanding its awards by adding two more award categories to recognize companies with the fastest employee growth and the largest venture capital raises. These three award categories allow AED to recognize and salute Arlington companies for their accomplishments and contributions to the County’s business economy.

Award Categories

  • Fastest Revenue Growth: Recognizing four Arlington companies with the highest rate of revenue growth over a three-year period.
  • Fastest Employee Growth: Recognizing two Arlington companies with the highest rate of employee growth from the previous year.
  • Largest Venture Capital Raise: Recognizing two Arlington companies with the highest amount of venture funding raised in the previous year.

Applications are open now through October 11. The winning companies will be announced during an awards reception in National Landing on November 1.

Interested? Learn more about the application process and submit your company for consideration.

Be a part of Arlington’s very first REV Awards Celebration!

Legal Insider: Early retirement 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 Kimberly H. Berry, Esq.

Early retirement is a consideration for many federal employees.

Federal agencies that are undergoing major organizational changes such as reorganization, reduction in force (RIF), reshaping, or downsizing can be given the option to offer federal employees voluntary early retirement based on the Voluntary Early Retirement Authority (VERA). The Office of Personnel Management (OPM) provides guidance on VERA here. VERA is the legal authority given to specific federal agencies so that they may offer early retirement options to employees.

VERA authority can provide a federal employee an opportunity to retire early with better financial options. In addition to VERA, federal agencies may also be given Voluntary Separation Incentive Payments (VSIP), which can range up to $25,000. OPM has published guidance on VSIP payments here.

VERA and VSIP were designed to assist agencies that need to implement organizational changes while also making it possible for federal employees to receive an immediate annuity payment years before they would normally be eligible. The voluntary early retirement provisions are the same under the Civil Service Retirement System (CSRS) and the Federal Employees Retirement System (FERS).

Federal Employee Requirements for Early Retirement for FERS and CSRS

In order to generally be eligible to retire under VERA, a federal employee must usually meet the following types of requirements:

  • The VERA minimum age and service requirements set by statutes in the U.S. Code for CSRS and FERS employees (i.e., the employee has completed at least 20 years of creditable service and is at least 50 years of age or has completed at least 25 years of creditable service regardless of age)
  • Continuous employment by a federal agency for at least 31 days prior to the date that the agency initially requested the Office of Personnel Management (OPM) approval of VERA
  • The federal employee may not have received a final removal decision based upon misconduct or unacceptable performance
  • The federal employee must hold a position covered by the agency’s VERA authority or program
  • The federal employee must exercise their option under the VERA option during the agency’s VERA acceptance period

Other requirements can apply, but these are the major ones. It is very important for federal employees considering a VERA/VSIP offer to seek the advice of an attorney regarding their retirement issues prior to initiating the VERA process.

Our law firm represents federal employees that are considering early retirement and other federal retirement matters. Sometimes VERA or VSIP considerations can come up during settlement discussions involving a proposed removal or removal action. Our website has additional information on retirement options.

Contact Us

If you are in need of federal employee retirement law representation or guidance regarding VERA (early retirement) or VSIP (early retirement incentives), please contact our office at 703-668-0070 or through our contact page to schedule a consultation.

Ask Eli: Are you informed about real estate?

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 Ask Eli, Live With Jean playlist. Enjoy!

I would love to hear more from you in comments or by email ([email protected]) about your opinions on the availability of good real estate content — national or local market information, investing, best practices/how-to, etc.

Whether it’s content you’d like to see here in my column or content you wish you could access from other sources, I’d love to hear!

No matter how informed you are on the real estate market, how happy are you with the information/news you do receive?

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

Listing of the Day: 818 N. Fillmore Street (Arlington)

By ARLnow.com Sponsor
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Address: 818 N. Fillmore Street
Neighborhood: Lyon Park
Type: 5 BD, 3.5 BA – 3282 sq. ft.
Listed: $1,660,000

Noteworthy: A classic from Lyon Park that has been expanded and updated.

A Historical 6 bedroom, 4.5 bath Craftsman situated on a quiet road in Lyon Park.

Two renovations were undergone, which significantly updated and expanded this 1925 Sears house — making it the ideal fusion of traditional charm served with contemporary elements.

An inviting front porch where you can soak up the sun welcomes guests to such a brilliant house. In the back, you will find a backyard porch with Trex flooring that leads to the sizable pool and built-in jacuzzi for an indoor/outdoor living experience like no other.

This true gem is within close proximity of the Clarendon Metro, Trader Joe’s, the Lyon Park Community Center and a wide variety of stores, restaurants, coffee shops, post offices, fitness centers, parks, and playgrounds.

Listed by:
Natalie Roy — Bicycling Realty Group of Keller Williams Metro Center
[email protected]
(703) 819-4915

Neighborhood Spotlight: Let’s talk about Westover Village

By ARLnow.com Sponsor

Westover Village is the commercial center for several neighborhoods we will tour today. Located along Washington Boulevard, between Patrick Henry Dr. and McKinley Street, the residential part of Westover is a pleasant combination of homes. 

Many of the original 1940s two  bedroom colonials have been expanded and renovated while a few have been replaced with new homes. Duplexes are located near Swanson Middle School, and garden apartments are sprinkled throughout the area. Some are market rate and some are used for APAH, Fisher House, Erdo and VHDA affordable housing. 

In the last few years, some of the buildings have been replaced with townhouses. Among the neighborhood amenities are Arlington County Library, W&OD biking and walking trail, and Westover Park and Playground. 

Just East of Westover lies Lacey Forest, bordered by the large Lacey Woods Park with acres of trees and the W&OD trail. The neighborhood originally had many summer cottages Washintonians used to escape the heat and enjoy the nearby Luna Park amusement venue. 

A number of those cottages were razed for new houses, and they join the many Colonial, Cape Cods, ramblers, and split levels that were built between the 1940s and 1960s. The first FHA insured house was located in Lacey Forest, and Eleanor Roosevelt personally visited the new homeowners. 

Moving north from Washington Boulevard are Wynnewood, Larchmont, and Tara. These areas were developed between the 1930s and 1960s, and many of the homes were custom built. They lend themselves to the expansions and renovations found throughout the area. Known for the tree canopy and rolling hills, the shady streets are ideal for walking and biking. Big Walnut park is at the northern edge of Tara and provides the best sledding hill in the area.

Years ago, a very wise woman persevered in the face of strong opposition to have medians built to slow traffic along Patrick Henry Drive. Today those medians are filled with tall trees, mature shrubbery and form a leafy entry to the Leeway Heights neighborhood. 

Many of the homes are “Broyhill” colonials, and the original tracks houses have been transformed with creative additions and renovations. Newer splits and bi-levels were built in the 1960s and several streets of summer cottages remain, although often expanded. The tucked away Parkhurst Park is nearby as is Cardinal Elementary School and the Sunday Farmer’s Market.

A desirable mix of housing, amenities, schools, and parks make Westover Village and its surrounding neighborhoods a very popular part of Arlington’s 22205 zip code.

Please reach out to me if you want to learn more about neighborhoods in Arlington and around the region.

Betsy Twigg | 703-967-4391 | [email protected] | www.betsytwigg.com | www.McEnearney.com

McEnearney Associates — Arlington Office

Links & Recommendations

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.

Listing of the Day: 1300 Army Navy Drive #822 (Arlington)

By ARLnow.com Sponsor

Address: 1300 Army Navy Drive #822
Neighborhood: Pentagon City
Type: 2 BR, 2 BA condo – 1255 sq. ft.
Listed: $499,900

Noteworthy: This property features 2 balconies and lots of upgrades throughout the residence

Welcome to this corner unit at Horizon House! Walk to Pentagon Row, Harris Teeter, and the Metro! This residence tops out at 1,255 square feet and features a dramatic living room with floor-to-ceiling windows that lead out to a wrap-around balcony. The open kitchen provides a great entertaining space and it looks out over the dining and living space.

The renovated kitchen is outfitted with stainless steel appliances, granite countertops and custom backsplash. The dining and living areas feature laminate flooring. The entrance foyer separates the bedroom quarters from the living quarters. The primary suite has plenty of room for a king-sized bed to go along with all of your additional bedroom furniture.

The walk-in closet with closet organizers will satisfy even the most methodical individuals. The en-suite bathroom features a sleek glass shower door and a floating bathroom vanity. The secondary bedroom functions well as a bedroom, home office, or both! Both bedrooms have access to the second balcony overlooking the treetops from the 8th story.

The renovated guest bathroom is conveniently located in the hallway. The condo fee includes all utilities and two garage parking spots. The community is located just steps to Pentagon Row, Pentagon City Metro, National Landing and National Airport.

Residents at Horizon House enjoy a staffed front desk, outdoor pool, tennis court, almost 7 acres of landscaped grounds and a rooftop deck with incredible views of Washington D.C.

Listed by:
Matt Leighton – The Battle Group with Century 21 Redwood Realty
[email protected]
(703) 472-0574

The Nose That Knows: Get set, ready, go?

By ARLnow.com Sponsor

This column is written by the team at Arrowine & Cheese (4508 Cherry Hill Road). Sign up for the email newsletter and receive exclusive discounts and offers. Order from Arrowine’s expanding online store for curbside pickup or in-store shopping. Have a question? Email thenose@arrowine.com.

What if, during your life, you could only practice your chosen profession 45 times? Well, that’s winemaking! Think about it: 45 times, that’s it. And you have to get it right each time, no matter the circumstances. Mother Nature is rarely consistent, perhaps never. Every year a winemaker has to make an enormous amount of decisions based on what the vintage gives them to work with.

Let me explain: we discussed the notion of “terroir” before. A “successful” wine must transfer or speak of the place it is from; that’s the whole enchilada, nothing less, or why drink wine in the first place?

We choose a particular varietal, a Pinot Noir or Sauvignon Blanc, from a “specific place” with an expectation of what it will taste like and how it will work with a particular food or moment. But how do we form these expectations?

Glass of wine at a winery (Photo by Kym Ellis on Unsplash)

The winemaker’s job is to seamlessly get the land’s soul into the bottle without screwing it up. And, to capture not just the particular varietal or blend but to bottle “the vintage,” to pleasantly give you the flavors or expression of that particular growing season, that is the Art, my friends! And great winemakers embrace this challenge.

They know they are working with a product that doesn’t lend itself well to intervention, manipulation, or strongarm tactics. As a winemaker, you listen to the grapes, they don’t listen to you. No matter what you could do to change the nature of the fruit (technology today allows for this, lipstick on a pig), a cosmetic. Trying to change the soul of the wine is a fool’s errand.

I took 25 clients on a river cruise five years ago. I planned each visit, and when I sat back and looked at each winemaker I selected to visit, women ran 80% of them! Some of you might disagree, but I believe women are better suited for making wine. Women seem to approach winemaking from a more cerebral, nurturing perspective. They are more apt to deal with the realities of the vintage, to let the vintage speak, allowing the wine to be what it is intrinsically, and not forcing it to do or taste as they “think” it should. Perhaps it has something to do with maternal instincts. I’m not a psychologist, so I can only guess.

Now for the nitty-gritty, decisions, decisions. It all starts with picking the harvest date. The hard and fast rule is harvest takes place 100 days after flowering. But it’s not that easy; here’s why; when I started in this business 45-plus years ago, “Brix” were everything. People harvest according to the sugar content of the fruit. Winemakers squished a grape, placed the juice on a refractometer, and read the sugar content of the juice. That told you the potential alcohol level, and when you hit “your number,” you picked. Today winemakers get more up-close and personal. They go into the vineyards weeks before the harvest and observe.

They examine the stalks. Are they ripe, woody (overripe), shriveled, or green and healthy? Then they look at the all-important skins (healthy mature skins are everything in making red wine, especially). Grape skins are the primary source of tannins, allowing the wine to age gracefully. The all-important skins also contain phenols or compounds that enable the wine to develop complex aromas. Are the skins ripe and not bitter when you bite into them? Are they fragile, easily broken, damaged, or sunburned?

Then comes tasting the entire berry, not just for sweetness but maturity; the skins, the flesh, and the pips. Then you are ready to go, or maybe not? More on that next week!

Cheers,
Doug

Photo by Kym Ellis on Unsplash

Just Listed in Arlington

By ARLnow.com Sponsor

Just Listed highlights Arlington properties that just came on the market within the past week. This feature is written and sponsored by Andors Real Estate Group.

Hey, Arlingtonians, and welcome to JUST LISTED!

Mortgage rates just topped 6%, another fresh new high since 2008. The persistent inflationary environment is spooking banks and it’s really showing up in the cost of borrowing money.

“Will this make home prices go down?” No, it will not, not necessarily. Nationally, there are some indications that home prices are falling, though only in certain instances or price points. With that being said, overall inventory nationally, but especially locally, is very low. This means that prices will stay propped up; remember, at the end of the day this is still and always will be, a supply and demand equation. If there are more buyers than sellers, prices generally will remain the same, or rise.

Another week of solid new listings has resulted in slight growth in available inventory — expect this to continue for at least the next few weeks, possibly longer, as fall approaches. After all, fall is the “second spring market” and is historically a great time to sell a home.

As I write this, there are 30 properties in “Coming Soon” status, a good indicator that more and more properties will become available over the next 21 days.

This week in Arlington, sellers listed 82 homes for sale (14 more than last week), while buyers ratified 59 contracts (16 more than last week), 27 of which were on homes just listed in the last seven days. Of the 394 homes currently available for sale (2 more than last week), 134 are detached homes, 57 are semi-detached/town houses, and 203 are condos.

Of those currently available properties, the average asking price is $926,076 and the median is $699,999. These properties have been sitting on the market for 55 days on average, while the median is 34.

This week last year, there were 555 properties available for sale, sellers listed 107 homes and buyers ratified 79 contracts. Mortgage rates were 2.86%!

Click here to search currently available Arlington real estate. If you see a home that you’re interested in purchasing, give us a call! Our team are experts at WINNING when it comes to Arlington real estate — our agents routinely outmaneuver others when it comes to multiple offer scenarios — call us to find out how!

Call the Andors Real Estate Group today at (703) 203-1117 to talk more about buying or selling Arlington real estate. Below are eight properties I think you might light to check out!

500 N. Nelson Street

Brass Rabbit: $20 gift card with newsletter subscription!

By ARLnow.com Sponsor
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Come check out Brass Rabbit, the swanky spot to grab lunch, brunch or dinner with friends!

Make a reservation for brunch this weekend. From 10 a.m.-4 p.m., enjoy a variety of sweet or savory brunch dishes. We recommend Carrot Cake Pancakes or Monte Cristo Sandwich! Check out our full Brunch menu.

If you’re looking for dinner reservations, check out our Dinner Menu which offers a variety of elevated pub fare, from handhelds like Lobster Sliders or Lettuce Wraps, to entrees such as Clam Linguine or Steak & Potatoes.

Follow our social media, and subscribe to our Newsletter for specials, updates and more.

All new subscribers will receive a $20 gift card for their next visit to Brass Rabbit!

Brass Rabbit is located at 1210 N. Garfield St., Arlington, VA 22201. 

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