Author: ARLnow.com Sponsor

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.

We’ve made it to the final Just Reduced column of the year, friends.

On behalf of the entire team at Arlington Realty, Inc., thanks for checking in here weekly in 2021 for the latest pulse on Arlington real estate!

Regardless of the headlines and other happenings in our world, it has been a positive year for real estate in Arlington County. According to the latest Redfin data, median sale prices are up 7.7% and the number of homes sold are up 21.4% compared to a year ago.

As for 2022, we remain super-bullish and you should, too. We live in an incredible community anchored by incredible cultural happenings, unwavering economic drivers and a diverse real estate scene. If and when a real estate transaction emerges as a 2022 must-do, the time-tested market leaders at Arlington Realty, Inc. are here for you.

Until then, enjoy the rest of 2021 and here are this week’s Just Reduced numbers.

As of December 27, there are 78 detached homes, 29 townhouses and 196 condos for sale throughout Arlington County. In total, 11 homes experienced a price reduction in the past week, including:

2136 S. Monroe Street

Please note 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.

New year, new home: Learn how to build your dream home

By ARLnow.com Sponsor

Here’s your chance to find out how to avoid costly mistakes when building a new home. Learn everything you need to know about new construction properties from successful agents on the top-selling real estate team in the D.C. metro area.

Bridget Mendes, one of Keri Shull Team’s experienced Buyer Success Agents, has extensive knowledge of custom-built homes and is leading this seminar at the Keri Shull Team office in Rosslyn.

We will cover:

  • Advantages of New Construction: At the event, we’ll take an in-depth look at how you can design the exact home you are dreaming of!
  • Buying a Builder-Owned Lot vs. Finding Your Own: Which solution is best when finding a lot? In the D.C. metro area, land can be rare, we’ll show you how to find it.
  • Choosing the Right Agents and Specialists: Don’t risk costly problems or losing your dream home! A good agent will help you close faster and pay less.

This is a FREE in-person seminar being held on Tuesday, January 4 at 6 p.m. Don’t miss this opportunity to get the details you need to make your new construction dream home a reality.

Register for this event today.

Ask Eli: The 20% down payment myth

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: Are there ways to buy a home without putting 20% down?

Answer: I hope everybody is enjoying the holidays and some time off!

Next month we will take some time to look at market performance in 2021, but this week I’ll address one of the most common questions I get — is it necessary to save 20% for a down payment in order to buy a home? Studies show that the most common reason people give for not buying a home is not having enough savings for a down payment.

About 1/3 of Arlington buyers purchase a home with less than 20% down and for many buyers, especially first-time home buyers, they’re putting as little as 3-5% down.

Programs For Everybody

For those with good credit, there are popular Conventional Loan programs allowing for as little as 3% down and for those with lower credit scores, FHA Loan programs range from 3.5%-10% down. There are also some exceptional 10-15% down programs available to those with great credit and good incomes that do not include mortgage insurance premiums.

Specialty Programs For Military and Doctors

If you are an active-duty or former service member you likely know about VA Loans that allow purchases with zero down. Doctors also have access to special loan programs offering great rates with low down payments for large loan amounts.

Mortgage Insurance

Many loans with less than 20% down will include mortgage insurance, which I wrote about here. It will increase your monthly payment and is usually a higher the less you put down. However, there are options to get rid of the mortgage insurance fees by buying it out or applying for early removal after a couple of years.

There are also loan options that do not include mortgage insurance at all.

Impact on Negotiations

Clients often ask me if a lower down payment will impact their ability to negotiate, so in 2018 I did an analysis on the topic. The results showed that only cash buyers (100% down) and buyers not putting any money down were materially impacted by their down payment, the negotiation leverage was similar for everybody in between.

However, it would be misleading to suggest that down payment percentage doesn’t have any effect. Most sellers will respond more enthusiastically to higher down payments, and this comes into play in competitive scenarios (multiple offers), which are common in Arlington and the surrounding D.C. Metro neighborhoods. When sellers are choosing between multiple, similar offers, buyers with higher down payments have an advantage.

Buyers can combat the potential negative impact of a lower down payment in multiple offer scenarios by getting a strong pre-approval letter from a reputable local lender, offering to get pre-approved by a lender of the seller’s choosing, increasing the Earnest Money Deposit, or several other tweaks to the contract that will be looked at favorably by the seller.

Favorite Mortgage Programs

If you’d like any additional information or recommendations on lenders or loan programs, don’t hesitate to reach out to me at [email protected].

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: 1600 N. Oak Street #1501

By ARLnow.com Sponsor

Address: 1600 N. Oak Street #1501
Neighborhood: Rosslyn
Listed: $489,900 (Condo Fee: $572/month)

The best bang for your buck along the Orange Line! Two bedrooms and two full bathrooms plus a sunroom for under $500,000!

This condo was just freshly painted and outfitted with new light fixtures to go along with new Pergo Arden Blonde Hickory waterproof flooring. At almost 1,000 square feet, this layout features bedrooms on opposite sides of the living area. The kitchen is spacious and features plenty of cabinet and counter space. The primary bedroom has a large dressing area as well as three closets. The sunroom has western exposure and is flooded with natural light.

One oversized parking space and one storage unit convey. The Belvedere has a fantastic amenity package that features a large pool, fitness center, 24/7 front desk, party room, convenience store, car wash area and much more!

Listed by:
Matt Leighton
Orange Line Condo | Century 21 Redwood Realty
703-472-0574
[email protected]
TheMattLeighton.com

Statutes of Liberty: Immigration Year in Review 2021

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., and Laura Lorenzo, Esq., practicing attorneys at The Law Office of James Montana PLLC, an immigration-focused law firm located in Arlington, Virginia. The legal information given here is general in nature. If you want legal advice, contact us for an appointment.

COVID-19

COVID-19 had systemic effects on the U.S. immigration system. We’ve had travel bans, travel bans reversed and new vaccination requirements for foreign nationals. We’ve also seen gigantic delays at U.S. Embassies abroad.

October brought the biggest changes when it comes to the intersection of immigration and COVID-19. First, beginning on October 1, immigrants applying for green cards either within the United States or at U.S. embassies abroad are required to be fully vaccinated against COVID-19. There are a few exceptions, and various vaccinations are acceptable apart from the “big three” we have in the United States. This vaccination requirement is an addition to the other vaccines that were previously required, like the influenza and chicken pox vaccines. We expect this requirement to stick around for the foreseeable future.

October also marked the month when geographic travel bans were reversed and the Biden Administration issued a new proclamation requiring vaccination for travel to the United States. Previously, visitors and other temporary immigrants from the Schengen Area, Brazil, India and some other countries were not permitted to travel to the United States unless they had spent a specific amount of time in a third country without testing positive for COVID-19. Now, those geographic restrictions no longer apply and now temporary immigrants, including visitors, must show that they are vaccinated against COVID-19, with minor exceptions. Some exceptions include children under 18, diplomats and airline crew members.

DACA and DREAMers Remain in Limbo

Federal courts have made a confusing series of decisions regarding the Obama-era DACA program. Impact litigators on both sides have obtained competing orders for injunctive relief in different federal courts, and so, like everyone’s favorite throwback Facebook status, it’s complicated. The current status of the DACA program is as follows: those are who are eligible for DACA but never filed before can file their initial applications, but the immigration authorities are holding onto those applications until further notice; therefore, new applicants should not expect a decision on their initial applications any time soon. Those who previously had DACA before the federal court litigation may still file and renew their DACA for the time being.

Despite lots of hope from many about relief for DREAMers, we still have not seen any major changes come out of Congress for DREAMers. We also haven’t seen the DACA program come through a notice and comment period via the Administrative Procedures Act, so we expect this limbo to remain for the time being.

Still No Amnesty

As we predicted, Sen. Joe Manchin (D-WV) — Lord of the Black Hills, First of His Name — has torpedoed  the Build Back Better Act. Even if he hadn’t done so, our view was that the immigration provisions of BBB were toast, due to the complex requirements of the reconciliation procedure. Going forward, don’t expect significant immigration reform to come out of the current Congress. But don’t worry — things can still get worse! The CW is that Republicans will take back both the House and the Senate in 2022, which means divided government and, especially on hot-button questions like immigration, guaranteed gridlock.

As always, we welcome your thoughts and questions and will do our best to respond.

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 Arlington, and Merry Christmas!

I’ve written an abbreviated post for this week. Next week will be similar for New Years, and then we’ll pick up strong again in the new year! As always, thank you for being a Just Listed reader. If 2022 looks like it holds real estate plans for you, it would be a pleasure to chat and discuss those plans and how the Andors Real Estate Group can put our 27 years of Arlington expertise to your benefit.

As you guessed, the market is still slowing heading into the holidays. Inventory continued to drop, though there was some strong buyer demand heading into the second-to-last week of the year.

Sellers listed 35 homes this past week, while buyers ratified 44 contracts. Nine of those contracts were on brand new listings.

There are only 291 homes to choose from in Arlington, down 30 from last week. 68 are detached homes, 35 are semi-detached/town houses, and the remaining 188 are condominiums.

The average list price for currently available homes is 825,553, and the median is $549,000. Average days on market is 87, while the median is 62. Prices range from $100,000 for a tiny condo, all the way to $4,250,000 for a 6 bed, 7.5 bath, 6,000sf+ home on a half an acre…

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.

851 N. Glebe Road #605

Listing of the Day: 888 N. Quincy Street #1007

By ARLnow.com Sponsor

Address: 888 N. Quincy Street #1007
Neighborhood: The Residences at Liberty Center
Listed: $449,900

Welcome to the “007 condo” located in one of Ballston’s most high-end communities, The Residences at Liberty Center. This 1 bedroom, 1 bathroom is home to 670 square feet of open and luxurious living space.

The spacious kitchen opens to the living area and features maple cabinets, granite counters with a breakfast bar, stainless steel appliances and pendant lighting. Beautiful hardwood floors run throughout the living and dining rooms, with floor to ceiling windows spanning the living room wall.

Enjoy your morning coffee on your huge private covered balcony with western exposure and courtyard views. The owner’s suite features overhead lighting, a large window, new carpet, and has an oversized en suite bath. The entire unit was just painted a fresh and modern gray, and includes a washer/dryer, a secure garage parking space and an extra storage unit.

Live in luxury and enjoy the communities high end amenities, including a rooftop deck that includes views of the monument and Potomac, a rooftop pool and fitness center, concierge and community room. Liberty Center is located just steps to two metro stops, the Ballston Quarter, jogging trails, tons of great dining options and more.

Listed By:
Shawn Battle
Orange Line Condo | Century 21 Redwood Realty
703-999-8108
[email protected]
OrangeLineCondo.com

Biz Talk: Arlington Economic Development Fast Four winners announced

By ARLnow.com Sponsor

This article was written by Arlington Economic Development.

In early December, Arlington Economic Development honored the winners of its fastest growing companies competition — known as the Arlington Fast Four. The winners were formally announced and recognized at a small reception at Ballston Local. County Board Chair Matt de Ferranti presented the award to the four winning companies.

Award nominees were privately held companies that showcased sound revenue growth from 2018-2020. Applicants were required to provide income statements to show proof of growth and revenue. The competition recognized the leading companies within four levels of revenue, spanning from $500,000 to $25 million and above per year.

Congratulations to the 2021 Fast Four winners:

  • $500k-$1.5M: Eminent Future (Rosslyn) is a digital product and innovation company that focuses on helping organizations and government agencies revamp business processes and technologies. Eminent Future began operations in Crystal City in 2009 and has since expanded and moved to Rosslyn, with a client roster that includes the Department of Defense, Air Force as well as nonprofits such as Global Village. This is the second Fast Four win for Eminent Future. See what CEO Jose Risi says was key to Eminent Future’s growth.
  • $1.5M-$5M: GoTab (Ballston) empowers consumers with contactless technology that puts them in control. GoTab operators run lean, profitable hospitality operations like contactless ordering, contactless payment and a QR-based Point of Sale system. It’s a favorite tool of a number of Arlington restaurants. Find out what CEO Tim McLaughlin says contributed to GoTab’s growth.
  • $5M-$25M: Quantitative Scientific Solutions (Ballston) is a scientific and technical consulting and data analytics firm that supports Federal, State, local and commercial clients with science and technology needs. Clients include the Office of Naval Research in Ballston, NASA and the U.S. Army to name a few.  Hear Founding Partner Dr. David Guarrera’s thoughts on business in Arlington.
  • $25M and above: Fors Marsh Group (Ballston) combines the power of research and strategy to solve social, commercial, and health-related challenges. In business since 2002, it has applied science and strategy to create positive behavior changes in people and program improvements in government. As a B Corporation, FMG governs from a unique set of values that compound the positive impact achieved for employees, clients and partners. See what CEO Ben Garthwaite says about growing his business.

Arlington is fortunate to have companies like these that drive growth and innovation in our region while solving some of the world’s greatest challenges.

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.

Have you crossed off the last items of your Christmas list?

If a new home remains on the list, there are still options aplenty on the market here in Arlington County, including a handful of “Just Reduced” options this week.

On the tail end of the year, there are equally as many people looking to sell as there are to buy, too… as indicated by some slight reductions on select listings.

As always, remember that these advertised reductions are just the beginning. With a trusted team advocating on your behalf, you can negotiate your way to even bigger savings. And, when that time comes, the time-tested team at Arlington Realty, Inc. has your back big-time.

Until then and on behalf of our entire team… we wish you and yours the merriest Christmas yet!

Here are this week’s Just Reduced numbers.

As of December 20,  there are 85 detached homes, 37 townhouses and 218 condos for sale throughout Arlington County. In total, 13 homes experienced a price reduction in the past week:

401 S. Jefferson Street

Please note 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: Most expensive homes sold in 2021 in the DMV

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: What were some of the most expensive homes sold this year in the DMV?

Answer: Happy holidays and new year everybody! I hope you’ve been enjoying this unusually warm weather and reconnecting with family and friends for some holiday cheer, we all need it!

It’s always fun to look back at the most expensive homes sold in our nook of the world, so without further ado, let’s take a look at the most expensive homes sold this year in D.C., Maryland and Virginia. Note: this includes what is entered into the MLS, it’s certainly possible (likely) that expensive homes have traded hands outside of the MLS.

The most expensive home sold this year in all three DMV states is a 16,000 SqFt home built in 2018 that sits on 16.5 acres along the Potomac River that sold for an incredible $48,000,000! That beats out last year’s leading sale by $3M.

Top 5 Most Expensive Sales in Arlington

Listing by Melanie Hayes, TTR Sotheby’s International Realty — 3155 20th Street N., Arlington, VA 22201

While Arlington’s average and median prices are sky-high, it doesn’t have many ultra high-end properties we see elsewhere in the region. Arlington’s most expensive sale this year came from the top floor of the new luxury condo building, Pierce, at $3,920,000. The next most expensive home, pictured above, is a single-family home in Lyon Village, sold for $3,750,000.

Top 5 Most Expensive Sales in Alexandria

Listing by Babs Beckwith, McEnearney Associates, Inc — 711 Prince Street, Alexandria, VA 22314

The most expensive sale in Alexandria was a beautiful single-family home built in 1800 on a double lot in the heart of Old Town, that sold for $5,000,000.

Top 5 Most Expensive Sales in Fairfax County

Listing by Heather Corey, TTR Sotheby’s International Realty — 7979 E Boulevard Drive, Alexandria, VA 22308

Fairfax County boasts the two most expensive sales in D.C., Maryland and Virginia at $48M and $15M. Both homes sit on the Potomac River.

(more…)

Give yourself the gift of great internet from Starry

By ARLnow.com Sponsor

No time like the present! Starry, Northern Virginia’s premier internet-only service provider, wishes you a Happy Holiday season!

To help make your season a little brighter, they are offering a special promotion through the end of the year for new customers.

Get up to a $150 Visa® Prepaid Card and 1 month free of Starry Internet. But hurry, offer ends December 31. Use code MERRIEST at starry.com/arlnow. Additional terms apply. Note: as long as you sign up by December 31, you will receive this promotion even if you select an installation date for next year!

For just $50 a month (every month — no price hikes!), Starry gives you ultra fast speeds (up to 200Mbps), free WiFi router and installation, up to $200 reimbursement for your old provider’s early termination fees, unlimited data — no data caps or overage fees, and friendly, reliable 24/7 customer support from a locally based team of experts. Don’t wait! Kick off the new year with new, better internet!

Happy Holidays and Happy Interneting From Starry!

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