Author: ARLnow.com Sponsor

Biz Talk: Arlington venture capital roundup Q1 2022

By ARLnow.com Sponsor

This article was written by Adam Henry, CEcD, Senior Business Development Manager for Arlington Economic Development.

This month Arlington Economic Development is celebrating innovation month — a time to celebrate all the innovative companies that call Arlington home.

Coming off a record-breaking year for venture capital investment in the United States, the first quarter of 2022 showed a lot of promise for Arlington-based companies seeking capital to launch and grow their innovative products and services. In total, Arlington-based companies saw five venture capital raises totaling $129.2 million in funding. Notable raises from this quarter include:

Since 2020, Arlington-based companies have raised $829.6 million in venture funding across 54 deals. Funding for local companies remained robust for the last three quarters, as over $125 million was raised in Q3 2021, Q4 2021 and Q1 2022, respectively.

Looking at the North American landscape of venture capital, startup investments declined by 11 percent in the first quarter of 2022, the first decline in nearly two years according to Crunchbase. The most notable decrease comes from early-stage investments (Series A and B).

According to Crunchbase, “Investors put a total of $26.3 billion into early-stage startups in North America in Q1, down 22 percent from the prior quarter.” According to the National Venture Capital Association’s Pitchbook-NVCA Venture Monitor for Q1 2022, Metro DC logged 94 venture deals totaling $1.78 billion this past quarter, up slightly from 95 deals with a total value of $1.1 billion in Q4 2021. Nationally, NVCA estimates that the United States saw 4,822 deals totaling $70.7 billion in Q1 2022.

As the innovation ecosystem continues to grow in Arlington, access to venture capital will remain a critical component to further establishing the community as a nationally recognized hub for innovation in the United States.

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 April 25, there are 126 detached homes, 32 townhouses and 201 condos for sale throughout Arlington County. In total, 25 homes experienced a price reduction in the past week, including:

1719 N. Highland 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.

Ask Eli: Q1 single-family housing market review

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!

Question: How did the single-family housing market perform in the first quarter of 2022?

Answer: At the end of last year, I expected a strong single-family market, but didn’t think the market had this much appreciation left in it. Sure enough, by the 2nd week of January, we were regularly seeing escalations of 10% or more over asking prices (that were set on last year’s prices) and despite headwinds from higher interest rates, the Ukrainian war, and inflation, the single-family housing market maintained the early momentum through the first quarter.

Intense Competition in Every Market Segment

I pulled data for sold single-family homes that were listed for sale after January 1, 2022, excluding new construction, in Arlington, Fairfax County, and Alexandria, Falls Church, and Fairfax Cities (Fairfax County+) and the data is pretty incredible.

  • The average, yes AVERAGE, home in Arlington and Fairfax County+ sold for 6.3% over the asking price
  • Over 27% of homes sold for 10% or more above the asking price
  • Homes listed for $750k-$1.499M sold for an average of at least 7% over the asking price
  • In Arlington, 85% of homes went under contract within one week on market and 95% were under contract within two weeks
  • It takes getting to an asking price of $2M+ before the average home sells below asking
  • The days of getting sellers to (help) pay for buyer closing costs are long gone, with only 4% of Arlington sales and 6% of Fairfax County+ including any seller credit
  • The average Arlington home sold for over $1.24M and the average Fairfax County+ home sold for over $1M

Months of Supply Explains Why

The easiest way to explain why we’re seeing such fierce competition and price appreciation is the Months of Supply (MoS) chart. MoS is a measure of supply and demand, showing how long the current inventory would last, based on the existing pace of sales. Fairfax County and Arlington had just two and three weeks of supply, respectively, in the first quarter. Six months of supply is what economists say is needed for a well-balanced market.

Without a surge in listing volume, which seems highly unlikely given how difficult and expensive it is for people to find their next home, the only thing that can balance out supply is a significant drop in demand, which there are few signs of to-date.

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Listing of the Day: 1610 N. Queen Street, Unit 236

By ARLnow.com Sponsor
1/5
Address: 1610 N. Queen Street, Unit 236
Neighborhood: Gaslight Square
Listed: $850,000

Beautiful 1 Bed + Den/2 Bath, light-filled condominium in the exclusive Gaslight Square is the fusion of classic architecture with contemporary details. This community was designed to evoke the serenity of an Old London enclave amid the bustling vibrancy of the city with private and pristinely landscaped gardens illuminated by gas lanterns.

Take the elevator directly to your third-floor flat from the secure lobby and, once inside, find the spacious open floor plan designed for upscale living. The den is ideal for an office or guest bedroom with access to the second full bath. Other features include 9 ft+ ceilings, espresso wide plank hardwood floors throughout, and a private balcony perfect for your morning coffee or evening cocktails. The gourmet kitchen has high-end stainless steel appliances including the Wolf gas stove, Subzero refrigerator, Asko dishwasher, quartz countertops, glass-front cabinets with under-counter lighting, and a center island with breakfast bar.

The owner suite is the perfect retreat, offering a custom Elfa closet. The owner suite bath is pure luxury with its modern finishes and walk-in shower. Other amenities of this home include the in-unit washer and dryer, hallway Elfa closet system, and a California Closet custom storage unit adjacent to its secure, assigned underground parking space.

Located in the heart of Rosslyn with quick access to Clarendon and Ballston and surrounded by plenty of great bars and restaurants, and only blocks to Whole Foods, Target, and the Metro — Silver, Blue & Orange.

Listed by:
Steve Wydler
Wydler Brothers
(703) 348-6326
[email protected]

 

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Legal Insider: Security clearance holders have a duty to report

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 John V. Berry, Esq.

Security clearance holders are expected to self-report security issues or incidents that may impact their ability to hold a security clearance.

Security Executive Agent Directive (SEAD) 4 is the applicable guide for clearance holders to determine whether a new incident or development touches upon a security concern which triggers a duty to self-report. Self-reporting is required and not doing so can cause harm to a security clearance holder. Furthermore, it is generally much better to be proactive in disclosing reportable events than for them to be discovered later.

Disclosing security incidents prior to them being discovered by clearance investigators can be considered a potential mitigating factor. Of course, there is also often many concerns in reporting security incidents by clearance holders which should be answered by an attorney experienced in security clearance law. Following legal advice, the usual first step in disclosing a new security concern involves contacting the individual’s security officer.

For example, if an individual is arrested for driving under the influence, it would be important to reach out to the security officer for guidance and first steps. The security officer may ask the individual to complete a form known as the SF-86C or other documentation to document the concern.

Timing is important. Self-reporting security incidents should be done, in many cases, as soon as possible. There are several examples of types of incidents that should be reported.  The following are just a few examples which may trigger the duty to report a new security issue:

  • Financial Issues — Reporting negative financial circumstances such as bankruptcy, state or federal tax liens or unusual adverse financial debt issues.
  • Arrests — Reporting any arrest, even if charges were not ultimately filed.
  • Marriage — Reporting marriages, other new serious relationships or changes in co-habitation.
  • Psychological or Substance Abuse Counseling — Reporting certain mental health and substance abuse issues impacting judgment or reliability.
  • Illegal drug use — Reporting the use of marijuana and other drugs still considered illegal on a federal level.
  • The Loss or Classified Information or Technology — Reporting inadvertent or accidental loss or compromise of classified or other sensitive information.
  • Foreign Contacts — Reporting unusual or substantial foreign contacts, especially those where classified or sensitive information is sought by the foreign contact.
  • Foreign Travel — Reporting travel outside the United States (other than for official business).

There are countless of other types of incidents that may need to be reported to a security officer, so if an individual has any questions it is often advisable to get legal advice as soon as possible. The Defense Counterintelligence and Security Agency (DCSA) has issued a notice which helps outline the self-reporting obligations of security clearance holders.

Contact Us

If you need assistance with a security clearance issues, 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.

Listing of the Day: 5204 2nd Street N.

By ARLnow.com Sponsor
1/5

Address: 5204 2nd Street N.
Neighborhood: Arlington Forest
Listed: $925,000
Open: Saturday, April 23 and Sunday, April 24 from 1 to 4 p.m.

Birders, bicyclists, runners and ruminators will love this home’s location — one block to a neighborhood park, two blocks to the W&OD Trail, close to the new Lubber Run Community Center, and bordering the extensive Lubber Run Park.

The house that comes with the location is a gem too. So many updates have transformed this 1940s timeless colonial into a home brimming with today’s amenities.  Two stylishly renovated bathrooms, a remodeled rec room with built-in bookcases, comfy carpeting, and recessed lighting; crisp white kitchen with lighted, glass-front cabinets, and new stainless appliances is open to the dining room.

A sunroom off the dining room extends the space for gatherings and daily living. Two bedrooms upstairs have desirable cross ventilation aided by ceiling fans, and the third bedroom is perfect for a nursery or office. Wood floors, double pane windows and fresh young decor complete the picture.

Outside, the brick has been painted in a warm hue, a new portico with metal railings and flagstone steps has been added along with a wide paver driveway. A new low maintenance vinyl fence encircles the large rear yard, and an industrial-style metal overhang shelters the kitchen door. The large paver patio is ideal for casual dining, relaxing, and snoozing on a summer’s day. Shady spots in the yard are perfect for play, sports and catching up on Vitamin D. Sunny areas abound for those with a newfound interest in gardening — or you can buy your crops at the Saturday Farmer’s Market at Lubber Run Community Center.

A wonderful home in pristine, move-in condition and an enviable location. And it is near the vibrant Ballston community.

Listed by:
Betsy Twigg
McEnearney Associates
703-967-4391
[email protected]
www.betsytwigg.com

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!

Mortgage rates climb yet again, the seventh week in a row. Rates averaged 5.11% over this past week as the 10-year treasury rapidly approaches 3%. The Fed just signaled they will raise their target rate by 50 basis points in May and that may not be the only one. Unfortunately, they are tamping down on housing demand but not on inflation through these moves.

I am witnessing a slowdown in Arlington real estate. I tell it like it is — what I see, what I feel and what I think. I’ve been debating my colleagues on this for the past few weeks, and I am adamant that is what is happening, at least in the short term.

Not all local markets will experience this, or not at the same time, or perhaps more or less severely, but often what happens is that things originate in D.C. and the hyper-local Northern Virginia region and extend outward in waves or ripples. We are insulated here in Arlington, but you only need to go out 10, 15 or 20 miles before those ripples accelerate and increase in size.

What does this mean? Well first, it means that houses that might have gotten 10 offers just a couple months ago may only get 2-4 offers. Doesn’t sound so bad you say? Well, sure, but houses that might have only gotten one offer may not get any, and mindsets are the hardest to break. Sellers will be expecting their home to sell for $100,000 over ask, and could be in for serious disappointment when instead they only get 99%-100% of what they were asking for.

Will prices go down!?! No, not any time soon, but they may stop going up and that may have already happened. The data lags on this by at least 30 days, but we may start seeing the year over year numbers start to level out…

At this moment in time, there are 295 properties available for sale in Arlington, 18 more than last week. Sellers listed 82 homes for sale, three less than last week. Ratified contracts are down 13 from last week, with just 59 contracts in the past seven days. Only 20 of those were homes listed just within the past seven days.

Of the 295 homes currently available for sale, 84 are detached homes, 28 are semi-detached/townhomes, and the remaining 183 are condominiums. These properties range in price from $100,000 all the way up to $7,950,000.

Average list price for currently available homes is $855,551, and the median price is $600,000. These homes have been on the market for an average of 43 DOM (days on market) and a median of 22.

This week last year, there were 438 homes available for sale throughout the county. Sellers had listed 146 homes for sale and buyers ratified 115 contracts.

Click here to search currently available Arlington real estate. If you see a home that you’re interested in purchasing, give us a call!

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

2316 N. Stafford Street

Listing of the Day: 1425 S. Greenbrier Street

By ARLnow.com Sponsor
1/5

Address: 1425 S. Greenbrier Street
Neighborhood: Claremont
Listed: $1,399,000
Open: April 24, 2-4 p.m.

Completed in 2017, this stunning 5 BR/4.5 BA craftsman with 4,000+ sq. ft. is on a quiet dead-end street in popular Claremont.

The gourmet kitchen features high-end SS appliances, marble subway tile backsplash, white custom cabinetry and super white quartzite counters. Center island seating with extensive cabinets for storage. Separate pantry. Spacious family room with stone-faced gas fireplace plus coffered ceiling. Formal dining room with butler’s pantry plus office/sitting room. Hardwood floors, custom lighting and designer shades throughout the living level.

The 2-car garage is easily accessible via the mud room. Indoor/outdoor entertaining is made easy through the huge sliders leading out to a spacious backyard, and stone patio. Enjoy the natural gas hookup for easy grilling! The second level features 4 bedrooms, 3 of which have en-suite bathrooms. The expansive primary suite boasts a walk-in closet of your dreams. Luxurious primary bathroom with a soaking tub, spa shower and double quartz vanity. Each of the other three well-sized bedrooms offers spacious closets plus en-suite bathrooms. Upstairs laundry for convenience.

Lower level includes a recreation room with loads of light plus 5th bedroom with en-suite bathroom and exercise/bonus room. Quick access to D.C. and National Landing. Close to Shirlington. Blocks from Wakefield HS. Easy walk to Barcroft Park.

Listed by:
Liz Lord
Compass Real Estate
571-331-9213
[email protected]
www.arlvahomes.com

Boring Title: Is your real estate agent a UNICORN?

By ARLnow.com Sponsor

Title insurance is boring, but Allied Title & Escrow is here to decode the jargon and make it (somewhat) more interesting. This biweekly feature will explore the mundane (but very necessary!) world of title insurance while sharing interesting stories of two friends’ entrepreneurial careers.

This week, Allied Title’s CEO, Latane Meade, catches up with Kristin Francis, top-producing agent and leader of the Kristin Francis Team of Keller Williams.

When you hear Kristin talk about her creative approach to real estate, it will come as no surprise that her team was voted one of Arlington’s favorite real estate agents for sellers in the 2021 Arlies, ARLnow’s community awards.

Kristin’s team is wholly committed to fostering community and building relationships which not only gives her clients a competitive advantage, it also enables her to leverage the team’s success for the greater good. Plus, they like to have fun!

Want to learn even more about the Kristin Francis Team? Visit their website, send them an email, or give them a call at 571-348-4604.

Have questions related to title insurance? Email [email protected]. Want to use Allied Title & Escrow when you buy a home? Tell your agent when you buy a house to write in Allied Title & Escrow as your settlement company! 

Experience EVO: Lease today and receive 2 months free

By ARLnow.com Sponsor
1/5

EVO, Rosslyn’s newest luxury apartment building, is taking Arlington living to new heights.

EVO, with apartments ranging from studios to three-bedrooms, boasts an inspiring array of amenities including a 65-foot-long rooftop pool with breathtaking views, ample co-working spaces, a best-in-Arlington fitness center, arcade gaming area, tailgate lounge with demonstration kitchen, sports lounge with golf simulator, poker lounge and children’s playroom to name a few.

The interiors feature top of line finishes, Bosch stainless steel appliances, quartz countertops, heated bathroom floors, and custom closet designs. EVO, a LEED certified gold building, offers penthouse living, and private balconies in many of the residences.

From the moment you step inside, one thing is clear: you’re on your way up. Connected with nature and with the city around you — just blocks from the Blue, Orange, and Silver Metro lines — this is a home for passionate people who are eager to share. And you’re invited.

Now offering up to two months free and an additional $3,000 off. Make the move to EVO today.

Visit EVORosslyn.com to schedule a tour, or call (833) 778-1483.

Small Business Focus: BizLaunch events are back!

By ARLnow.com Sponsor
1/4

This column is sponsored by BizLaunch, a division of Arlington Economic Development.

After more than a two-year hiatus due to the global pandemic, BizLaunch events are springing into action this spring with two can’t-miss opportunities.

The SWaMmy Honors

In celebration of Business Appreciation Month, BizLaunch and the Virginia Department of Small Business and Supplier Diversity are partnering on the SWaMmy Honors. This hybrid event celebrates Virginia’s small businesses while recognizing the resiliency of small businesses as they build back our economy after the global pandemic.

This year’s event is on May 25, from 11 a.m. to 1 p.m., and 10 SWaM certified businesses from around the Commonwealth will be recognized. Businesses will be honored as a Legacy Business — those in business 20+ years, or as a Community Impact Business — those who have made a positive contribution to their community.

While the honorees will be recognized in person in Richmond, Virginia, attendees will be able to watch and participate via Google Meet. Register today and help us honor Virginia’s small businesses.

Brunch and Business: Celebrating the Joy of Black Entrepreneurship

BizLaunch’s signature program is back and better than ever with a brand-new partner, The Hyatt Regency in Crystal City, serving as our host for the event. We will feature and celebrate Black-owned companies in Arlington that exemplify what it means to launch and manage a successful business at this special event.

Panelists for this year’s program include:

Unlike previous Brunch and Businesses, we can have exhibitor space for Black-owned food companies. Interested Black-owned food-based businesses should reach out to Alex Held for more information about securing exhibitor space.

Join us on June 8, from 11 a.m. to 1 p.m. as we celebrate Arlington’s diverse small business community.

For more information about BizLaunch and to stay up to date on events and programs, sign up for our newsletter or visit www.bizlaunch.org.

Clips from the virtual SWaMmy Honors held in October 2020.

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