Feature

Small Biz Focus: Your End of Year Business Tune-Up

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

By Tara Palacios

Are you distracted by sugar plums dancing in your head? Don’t be! There is still time to strategize to ensure a productive 2019. The last 12 days of 2018 provide an excellent opportunity to plan for the New Year (You’ll start to notice this week the emails have slowed as people start to leave on vacation — seize the day!).

Here are 5 quick BizLaunch Tips to ensure you pass your end of the year business tune up:

  • Set Up a Quick Meeting with Your Accountant
    The tax law changed last year. How have the new changes impacted your business? Are there things you can do now to help you manage 2019? Draw up a list of questions for your accountant before the clock strikes 12 on December 31.
  • Dust Off Your Strategic Plan
    When was the last time you reviewed your strategy? What is working and most importantly what is not working? Which areas should you update in the coming year to grow your business? Take a hard look right now and ask yourself tough questions about the direction your business is headed.
  • Audit Your Goals from 2018
    Did you accomplish the goals you set for yourself this year? What should you continue doing and what should you change?
  • How Does Your Desk Look?
    Are proposals scattered around your desk and you can’t find your chair? Now is a good time as ever to refresh and put your files in order. You’ll feel great after you do!
  • Set Up an Appointment with an Advisor
    Mentorship is priceless. Is there an advisor in your life you feel 100% comfortable bouncing ideas off of? If so, schedule a meeting in the New Year. If not, give us a call! You may come up with a plan that you hadn’t thought of in the New Year.

As a business there are still things you can do before the end of the year to be ahead in 2019.

And, yes — we do have *new* events in store for the New Year on Branding and Funding Your Dreams. We hope you will join us. Warm wishes during this holiday season, and we look forward to a wonderful 2019!

The BizLaunch Team

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 licensed broker Aaron Seekford of Arlington Realty, Inc. GET MORE out of your real estate investment with Aaron and his team by visiting www.arlingtonrealtyinc.com or calling 703-836-6116 today!

Please note: While Aaron Seekford provides this information for the community, he may not be the listing agent of these homes.

It’s our last Just Reduced before Christmas. So, on behalf of our team and families, wishing you and your loved ones a Merry Christmas and happy holidays!

Hopefully you’ve been good this year and there are many gifts in store.

And, speaking of gifts, our real estate market continues to be quite the treat. Some recent figures from the Northern Virginia Association of Realtors show a 96 percent increase in home closings, comparing November 2017 to November 2018.

Surely the announcement of Amazon’s forthcoming HQ2 had something to do with this impressive jump. But, having an award-winning public school system, low unemployment rates, seamless access to our nation’s capital and incredible community amenities surely doesn’t hurt either.

When you’re ready to call Arlington home, our team is ready to help you GET MORE out of your transaction. Until then, here’s to enjoying the holidays!

As of December 17, there are 129 detached homes, 11 townhouses and 112 condos for sale throughout Arlington County. In total, 8 homes experienced a price reduction in the past week.

Here is this week’s selection of Just Reduced properties:

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 Aaron Seekford.

Ask Eli: What Does Contingent Mean When Buying a Home?

By ARLnow.com Sponsor

This regularly-scheduled sponsored Q&A column is written by Eli Tucker, Arlington-based Realtor and Rosslyn resident. Please submit your questions to him via email for response in future columns. Enjoy!

Question: Admittedly, I thought I would be more successful learning about the home-buying process online, but realizing it’s difficult to get clear answers that apply locally. I’m getting confused about the meaning and impact of a contingency and hoping you can explain what contingent means and what I should know about contingent contracts in this area.

Answer: There are plenty of educational resources online about buying a home, but local customs and contracts differ so much by state or region that a great explanation of a topic by an agent in New York may prove to be misleading for a home-buyer in Northern Virginia.

I always recommend that our clients spend some time up-front with us discussing key milestones and contract protocol. You’d be surprised how much even the most seasoned buyers can learn during a 30-60 minute review of the buying process.

Simple Definition

Contingencies, in a real estate transaction, are clauses or addendums added to the Purchase Agreement that give one party the right to cancel or renegotiate the contract if certain things do or do not happen within a pre-determined period of time.

Nearly every contingency you will need is a pre-written form offered by the local Realtors Association (e.g Northern Virginia Association of Realtors) so you don’t have to worry about hiring an attorney to draft the language unless you find yourself in an unusual situation.

If a Buyer cancels the sale within the legal limits of a contingency, they receive a 100% return of their deposit/escrow (Earnest Money Deposit).

The Big Three

There are three standard contingencies used in almost every sale — Home Inspection Contingency, Financing Contingency and Appraisal Contingency.

Like most contingencies, they protect the Buyer. However, they are not required so Buyers may decide to remove some or all of their contingencies in order to improve the strength of their offer. Fewer contingencies equals fewer barriers to sale which is more attractive to a seller.

Home Inspection Contingency — This provides buyers the right to hire a 3rd party home inspector (your Agent should be able to recommend somebody), followed by the buyer’s right to negotiate for repairs and/or credits from the seller and/or the ability to void the contract if an agreement on repairs/credits can’t be reached.

Buyers may elect for a Pass/Fail Contingency which eliminates their right to negotiate repairs/credits, but leaves intact the right to void. Nobody other than the buyer can decide whether a home passes or fails inspection.

The Inspection Contingency Addendum also includes a section for Radon testing, which is applicable when a home has a livable underground basement.

Financing Contingency — A Financing Contingency protects the buyer in the event that they are unable to secure a loan to purchase the home. If a buyer is rejected from their loan application for any reason other than personally sabotaging the loan (e.g. not delivering required documents), they have the right to void the contract.

This is why it is important for sellers to vet their buyer’s pre-approval letter before accepting an offer to make sure they have been fully qualified by a reputable lender. Your Agent should know how to vet the approval and whether there are any red flags.

Appraisal Contingency — If you are taking out a loan to purchase your home, the lender will most likely require a 3rd party appraisal. The Appraisal Contingency protects buyers in the event the appraised value is less than the purchase price.

It allows the buyer to renegotiate the purchase price, add more equity to the loan to maintain their down payment percentage, leave the equity unchanged and reduce the down payment percentage or void the contract.

Other Contingencies

Other less common contingencies include the Association Document Review, which offers Buyers a non-negotiable three-day review period any time they purchase a home in an Association (Condo, Coop, HOA, POA) to review the Resale Package which includes documents like by-laws, rules, budget and reserve study. Upon delivery, Buyers are able to cancel the contract for any reason within three days of receipt.

Another less common contingency relates to the purchase or sale of another home. Sellers may include a contingency that states they must find a home to purchase before they will sell their current home and buyers may include a contingency that requires them to sell their home before they purchase their next home.

Proper Use

After purchase price, contingencies are the next most important terms in a negotiation. You should spend time early in your buying process talking with your Agent about the most efficient use of contingencies to maximize your protection while not unnecessarily compromising the strength of your offer.

This is especially important if you are making an offer on a home that has been on the market for less than two weeks and there is a chance for multiple offers. The winning offer is not always the highest price, but the one who presents the best overall contract. Even in non-competing offers, you may save yourself money on the final purchase price by using contingencies and other terms more efficiently.

As always, if you would like to set-up time to discuss this topic in more detail, don’t hesitate to email me at [email protected] to schedule a meeting. Now go finish up your holiday shopping!

If you’d like a question answered in my weekly column, please send an email to [email protected]. To read any of my older posts, visit the blog section of my website at www.EliResidential.com. Call me directly at (703) 539-2529.

Eli Tucker is a licensed Realtor in Virginia, Washington DC, and Maryland with Real Living At Home, 2420 Wilson Blvd #101 Arlington, VA 22201, (202) 518-8781.

Legal Review: Lawsuit Seeks to Hold Atrium Health in Violation of Federal Employment Law

By ARLnow.com Sponsor

By ERISA violation attorney J. Price McNamara of the Law Offices of J. Price McNamara

A lawsuit filed in North Carolina is asking the court to find Atrium Health in violation of federal rules governing retirement and health benefits. The lawsuit, which was filed by five former employees of Atrium, alleges that Atrium has been avoiding its responsibilities to its employees regarding pension funding and has been using its partial ownership of a health insurance company to force its employees to pay more for care, both of which are violations of the Employee Retirement Income Security Act, or ERISA.

The purpose of ERISA is twofold: protect employees by ensuring that certain aspects of employer benefits are subject to disclosure and monitoring by the federal government and providing employers with a set of rules within which to operate without fear of governmental overreaching. ERISA only applies to private entities; governmental entities are exempt from ERISA, the reason being that governmental entities are subject to mandatory disclosure and oversight.

“The two biggest areas where disagreements arise are pensions and health insurance,” said J. Price McNamara, an ERISA Violation attorney with the Law Offices of J. Price McNamara in New Orleans, Louisiana. The lawsuit in question deals with each of those areas.

The first is that because Atrium is subject to ERISA, it has violated the law by underfunding its defined benefit plan by $379 million. Defined benefit plans are better known as pensions; amounts paid by an employer to a retired employee based on years of service, not based upon any amount contributed by the employee.

Additionally, Atrium has failed to purchase insurance for its pension plan through the Pension Benefit Guaranty Corporation, the government entity responsible for administering the pension plans of failed or bankrupt companies, another violation of the law.

Finally, the lawsuit contends that Atrium violates ERISA by requiring five years of service before allowing employees to participate in the pension and retirement plans; entities subject to ERISA can keep employees out no longer than three years.

The second area where the lawsuit claims Atrium to be in violation of ERISA is with regard to health insurance. ERISA prevents most employers from using companies that they own to provide health benefits to employees unless the employer can show to the Department of Labor that the health benefits provider puts the needs of employees first

Atrium offers health insurance coverage through MedCost, which it jointly owns with N.C. Baptist Hospitals. The lawsuit alleges that Atrium used MedCost as a way to ensure that medical expenses could be controlled directly because MedCost would be unlikely to seek rate increases from Atrium and would pass as much of the cost of care onto the patient as possible — as evidenced by comparison with similar plans available in the state.

There is a slight twist in this case. The lawsuit alleges that not only has Atrium violated ERISA, but it did so by falsely claiming that it was a governmental entity, thereby making it exempt from ERISA.

Atrium Health claims that its governmental entity exemption is valid because it was originally a “hospital authority”. Hospital authorities have some statutory recognition in North Carolina as being governmental entities under a 1997 statute that recognized the ability of a county to assign to any hospital authority created prior to 1997 the power to provide public health services.

Whether Atrium will fall under this exception remains to be seen; however, the claims put forth by the Plaintiffs raise interesting questions that must be litigated before we can get a better understanding of how North Carolina’s laws will line up with ERISA.

If you believe that your rights to benefits as an employee have been violated by your employers’ actions, do not wait to contact an experienced ERISA Violation Attorney. Issues related to ERISA are complex and require a deep understanding of the federal rules and regulations. Contact a Louisiana ERISA Violation Attorney today to fight for the compensation you deserve.

Crystal City Startup Acquires Holographic Football Training Program

By Vernon Miles

Sponsored by Monday Properties and written by ARLnow.com, Startup Monday is a weekly column that profiles Arlington-based startups and their founders, plus other local technology happenings. The Ground Floor, Monday’s office space for young companies in Rosslyn, is now open. The Metro-accessible space features a 5,000-square-foot common area that includes a kitchen, lounge area, collaborative meeting spaces, and a stage for formal presentations.

A Crystal City-based startup’s new acquisition will start to move the company toward offering hologram technology.

ByteCubed, a startup ARLnow first profiled in 2015, launched a new subsidiary, ByteCubed Labs, LLC, in November. The new subsidiary’s first offering will be “Pre-Game Prep,” technology from Maryland-based developer Mixed River that uses holograms for sports training.

The technology is currently being used by the Baltimore Ravens, who use the technology to simulate the opposing team on the field and react to real-time data, according to a release. Microsoft’s “HoloLens” glasses allows users to play-back recent plays and simulations.

“The acquisition of Pre-Game Prep and the launch of ByteCubed Labs allows us to expand our leadership in complex data analysis and advanced engineering to a new market of professional and college football teams,” ByteCubed CEO Ahmad Ishaq said in a statement.

Troy Jones Jr., who had helped oversee the product at Mixed River prior to acquisition by ByteCubed, was also hired as vice president of business development and operations at ByteCubed Labs.

“Pre-Game Prep” will now be offered through ByteCubed Labs, although the working relationship with the Baltimore Ravens will continue. The company’s specific plans for the holographic technology haven’t been announced yet, but the Washington Business Journal reported that security planning for events was one of the potential uses cited for the tech as it shifts from sports to government use.

ByteCubed also recently acquired InterKn, a data analytics and machine learning platform, and CHIEF, a branding and marketing agency.

Legal Insider: Five Considerations for Federal Employee Disability Retirement Cases

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.

One of the more typical types of retirement matters that our firm handles involves the representation of federal employees in the disability retirement process before various federal agencies and the Office of Personnel Management (OPM).

Federal employees thinking about filing for disability retirement should consider the following five issues as they debate whether or not to proceed.

1. How Serious are the Federal Employee’s Medical Disabilities and are They Linked to Duties in Their Position Description?

When making a disability retirement decision OPM evaluates a federal employee’s continued ability to work with their medical condition in the context of the duties described in their position description. OPM uses the phrase “useful and efficient service in your current position” to describe the degree to which a federal employee can carry out their job duties.

If the medical disability is not considered serious enough, or not fully supported by medical documentation and evidence, then OPM may deny the disability retirement application.

2. How Long is the Medical Disability Expected to Last?

The duration of a medical disability is very important when OPM makes a disability retirement decision. OPM generally requires that a medical disability be expected to last at least 1 year.

When considering whether to file for disability retirement, it is important for a federal employee to consider the expected length of the individual’s medical disability. Disabilities with shorter durations can be problematic for federal employees in the disability retirement process.

3. Is it Possible for the Federal Employee to Survive on a Reduced Annuity?

If a federal employee is considering filing for OPM disability retirement, it is important to understand that this type of retirement can provide a federal employee with a lower monthly retirement annuity in comparison to full retirement. Therefore, we recommend that a federal employee consult with a financial advisor about the impact of a potentially reduced annuity before filing for disability retirement.

The good news is that an individual approved for disability retirement can generally work again in the private sector (not in other federal employment) and supplement their income (usually up to 80% of their prior salary) without losing their disability retirement income.

4. Are There Reasonable Accommodations that can be Made to Allow the Federal Employee to Continue to Work?

Sometimes a federal agency will work with an employee to provide them with a reasonable accommodation (i.e., change in duties, assignments, hours, telework or other adjustments) that can make the employee’s current position and medical condition workable and thereby avoid the disability retirement process, although this is less common.

As a part of the disability retirement process, a federal agency is required to certify that it is unable to accommodate your disabling medical condition in their present position.

The agency must also certify that it has considered a federal employee “for any vacant position in the same agency, at the same grade or pay level, and within the same commuting area, for which [you] qualified for reassignment.” Federal agencies typically do not have an issue with such certifications.

5. Does the Federal Employee have Medical Support for Disability Retirement?

Medical documentation and evidence is the most important consideration for a federal employee when filing for disability retirement. We also find that physicians will usually help their patients in the disability retirement process.

When OPM reviews disability retirement applications, they rely heavily on a federal employee’s medical evidence. As a result, physicians and their medical opinions are crucial in the disability retirement application process with OPM.

OPM will require physicians’ statements about a federal employee’s medical issues, and these physician statements can either make or break the potential outcome in the disability retirement application process. It is important for a physician to understand a federal employee’s position description and how their disabilities interfere with their duties.

Conclusion

If you are in need of assistance in the federal employee retirement process please contact our office at 703-668-0070 or through our contact page to schedule a consultation. Please also visit and like us on Facebook or Twitter.

Rethink Energy: Plug into the Energy Lending Library

By ARLnow.com Sponsor
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This regularly-scheduled sponsored column is written by the Arlington Initiative to Rethink Energy team (AIRE). This county program helps you make smart energy decisions that save you money and leaves a lighter footprint on the environment.

National leaders are meeting in Poland to discuss climate change. We in Arlington are addressing carbon emissions and climate change through Arlington’s Community Energy Plan.

How can you take action to reduce your carbon footprint? The Energy Lending Library is just one of many ways the county is working to achieve the goals of the Community Energy Plan.

Every action makes a difference. Stop by the Arlington County Library to borrow free energy efficiency tools, along with the information needed to identify and act on energy efficiency opportunities.

Use Knowledge to Take Action

  • Thermal imaging cameras see what your eyes can’t. They help identify hot and cold spots in your home, indicating where insulation is missing and where air leaks occur.
  • Energy meters show exactly how much electricity appliances and electronics consume.  Understanding energy use in your home is the first step to taking action toward a “greener” home.
  • The curated booklist offers energy saving tips and will help your complete “do-it-yourself” projects to save energy and money to make your home more comfortable. The list also includes some Spanish titles.

The Energy Lending Library and other AIRE programs offer you energy-saving resources to help rethink energy use and achieve the goals outlined in Arlington’s Community Energy Plan, which calls for a 75 percent reduction in energy consumption countywide by 2050.

Join us to create a climate of change here in Arlington. Start by reserving your thermal camera, energy meter and energy books here or stop by your local library.

Open Houses in Arlington This Weekend

By ARLnow.com Sponsor

Looking for a home? There are plenty of houses and condos open for viewing this weekend.

Check out the Arlington Realty website for a full list of homes for sale and open houses in Arlington. Here are a few highlights:

2500 N. Nottingham Street
6 bed/4 bath, 1 half bath single-family home
Agent: Wydler Brothers
Listed: $1,830,000
Open: Sunday 2-4 p.m.

 

4117 27th Street N.
4 bed/3 bath single-family home
Agent: Optime Realty
Listed: $1,199,900
Open: Sunday 2-4 p.m.

 

1881 N. Nash Street #1504
1 bed/2 bath condo
Agent: Coldwell Banker Residential Brokerage
Listed: $1,050,000
Open: Sunday 1-4 p.m.

 

1805 S. Crystal Drive #613S
3 bed/2 bath condo
Agent: Redfin Corporation
Listed: $850,000
Open: Sunday 1-4 p.m.

 

1029 N. Liberty Street
3 bed/2 bath single-family home
Agent: Long & Foster Real Estate
Listed: $749,900
Open: Saturday and Sunday 2-4 p.m.

 

2522 S. Monroe Street
3 bed/2 bath villa/townhouse
Agent: Keller Williams Realty
Listed: $399,900
Open: Sunday 1-4 p.m.

 

4600 S. Four Mile Run Drive #1019
1 bed/1 bath condo
Agent: Optime Realty
Listed: $199,900
Open: Sunday 2-4 p.m.

WWBG: Charles Towne Fermentory

By ARLnow.com Sponsor


Editor’s Note: This biweekly column is sponsored by Dominion Wine and Beer (107 Rowell Court, Falls Church). This week’s Guide is written by Sam Dial.

As the brewery scene becomes more and more hyper localized, there are a select few that transcend that and reach national appeal. Founder and head brewer Adam Goodwin has had his hand a couple of these breweries on his way to opening up Charles Towne Fermentory (CTF) in 2016.

Picking up experience from Tired Hands Brewing, Philadelphia, and as founder and head brewer of Trillium in Boston, Goodwin, alongside partner Justin Slotnik, started his own project to focus his beer around quality and simplicity. They set up shop in the the old Lyerly’s Dry Cleaning building brewing on a 15-barrel system, which is a major scale reduction from Trillium, who houses 30 barrels at just one of their locations. Reason being, smaller production scale gives Goodwin the freedom to experiment more, while still allowing his large production experience to shine through.

Brewing on a limited system means that CTF originally only allowed customers to fill growlers at the brewery to take home, adding crowlers and cans over their two years of business. Their limited production also means CTF has to be selective with where they send their liquid, and we are thrilled be featuring their beer for the first time!

  • ‘Sidestepper’ — 8.3% New England Double IPA with Citra, Amarillo and Simcoe. Not just another haze crazed IPA like most these days, this beer is about showing off the depth of flavors of the hops. It is floral and neon-lights bright, with juicy with notes of tangerine that are all balanced by an incredibly pleasing bitterness that lingers throughout. Not even boozy sweet, this is a dangerously drinkable DIPA.
  • ‘Infinite Yawn’ — 4.7% Dry Hopped Blonde Ale. So, this is a style of beer that I especially enjoy. A delightful, easy drinking light beer dry hopped with Motueka and Mosaic. Don’t think that this a plane-jane beer made to carry hops, this isn’t like getting chips so you can eat guacamole. It’s dry and slightly bready which plays as a great backbone to the passion fruit, peach, and orange peel from the hops.

Crazily crushable, tremendously tropical, brilliantly balanced, Charles Towne Fermentory shows what they are about with these two beers.

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 Team Cathell, “Your Orange Line Specialists.”

The real estate market in Arlington returned to a normal December pace this week with 34 new listings and 48 ratified contracts.

Sellers generally avoid putting their homes on the market between Thanksgiving and Christmas because historically it’s the slowest time of the year. But for Arlington, the Amazon HQ2 decision has sparked heightened home buyer and investor activity. Of those 48 homes that sold, 10 were gone in less than seven days on market and some of those enjoyed multiple contracts.

Economists from the Fuller Institute at George Mason University said on Wednesday that the Amazon impact on housing will likely not be as broad as many anticipate. They studied the impact in Seattle and found that properties within about 1 mile of Amazon’s HQ experienced about two percent higher value than other areas.

The average Amazon salary in Arlington will be about $150,000 which can support a home price of about $800,000 with today’s mortgage rates. So, the market priced $800,000 and below should see a bump. Also, these new jobs will be phased in over 12-16 years.

Meanwhile, mortgage rates started the week at their lowest since early September at 4.65% for a 30-yr fixed rate, but by the end of this week had inched up 5-10 basis points to about 4.75%.

Click here to see all the fresh new inventory in MRIS and call Team Cathell (703-975-2500) when you find a home you like.

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