Feature

Small Biz Focus: 5 Things to Check Under Your Hood

By ARLnow.com Sponsor

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

By Tara Palacios

It appears as if COVID-19 is going to be with us for the better part of the year, and possibly into 2021.

Since the Stay-at-home orders were issued in March, the Palacios Family — like many families across the U.S. — have been looking closely at the way we manage our household and developed new efficiencies like never before. We’ve repurposed our work spaces in anticipation of a virtual fall and identified simple tools to help us with this transition.

Just as we have been making our workspaces more productive — now is the time to look under the hood of your business to ensure the engine is running smoothly and continues to run smoothly as we move through the current health pandemic.

A definite area of importance is to make sure your business has access to personal protective gear, masks, sanitizers and the sanitizing products for the workspace as well as ensuring social distancing of at least 6 ft. Those PPE business needs are a reality of 2020; however, you will also want to make sure the engine is running well under the hood.

5 Things to Check Under the Hood of Your Business:

Reevaluate your vision, mission and goals

COVID-19 has changed the way we do business.  Have you had the opportunity to reevaluate and modify your company’s mission and vision to reflect the differences the health pandemic has impacted on our society? Are your vision, mission and goals the same?

If the vision and mission of your business is different, how have you communicated your messaging to your key stakeholders and customers? If your vision, mission and goals are the same, should they be changed to reflect a different business environment?

How is your business structured?

What type of business structure are you? (E.g., Sole proprietor, LLC, Partnership, Incorporated etc.) When was the last time you reached out to your accountant or attorney to ensure your business structure still matches the vision and goals of your business from when you first started? Have you grown your business or are you the same sized-business as you were 2, 5 or 10 years ago? Make sure your business structure aligns with the structure and offerings of your business in 2020.

Do you have the same customers or target market? 

Is your business stagnant or growing? Do you have the same customers or has your target market shifted due to a decrease/increase in demand or because of a change in technology? Are your customers buying your product or services the same as they did in 2012 — or are you finding most customers are now online versus buying from you in-person?

Audit your customers and ask them directly how like they are to engage in business with you. A fall survey is a great way to make sure that you are offering the best services and products you possibly can as we move into 2021.

Access to Capital 

How much buying power do you have for your business as of August 2020? If you need cash do you have enough money to pivot, target a new client-base or move your services online? How much would these investments cost and how much do you need to be a key player in your industry? Reach out to your financial institution and have them do a financial audit of your business.

If you have a relationship with your bank this is a great way to identify new products and tools that can help you manage opportunities and continue to build your business. If you don’t have a relationship with a bank, begin to build one now for future possibilities and direction.

Identify your Top 5 Opportunities 

As we say goodbye to 2020, (…believe me a lot of us can’t wait to see the back of this year…) what are the remaining 5 opportunities you can identify to help grow your business? There are still four solid months left in the calendar year. What are the opportunities you can squeeze in quickly to help grow your business and give you a giant positive leap into 2021?  Brainstorm with your team and find the opportunities.

In BizLaunch, we continue to keep the under the hood dialogue moving forward. We have two free workshops coming up this month you can participate in. We hope you join us.

Arlington Pet of the Week: Chai

By ARLnow.com
1/7

Meet the Arlington Pet of the Week, Chai, a 9 week old Goldendoodle who loves running around his new yard here in Arlington.

Here is what Chia’s owner had to say about his young life so far here in Arlington:

Meet Chai (Yes, like the tea!), the 9 weeks old Goldendoodle  sauntering the streets of Bluemont who decided to drive all the way from Ohio and brighten the lives of his new family and neighborhood . Obviously, he is very picky about where he goes- He says he needs all his shots before he can venture out further!

Christened after his Indian parents’ favorite beverage, Chai comes with extra sugar. He’s a lover of his humans and a napping aficionado- always loves to cuddle first then retire under his favorite pieces of furniture. When not cuddling or waiting for his next meal, he loves to explore his territory around the house, become suspicious of random trinkets, and sleuth for treats.

He also loves zipping around the yard and pulling at grass as a form of daily exercise. He highly recommends it to all his furry friends!

Want your pet to be considered for the Arlington Pet of the Week? Email [email protected] with a 2-3 paragraph bio and at least 3-4 horizontally-oriented photos of your pet. Please don’t send vertical photos, they don’t fit in our photo galleries!

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.

The numbers don’t lie, folks.

In our Just Reduced world, where just months ago, there were a dozen (at the most) homes with reduced prices each week in Arlington County, we’re now seeing approximately three times that amount on a regular basis.

Of course, given the current climate, there is a level of uncertainty and, for some folks, some very tricky and difficult scenarios.

But, if you are fortunate enough to be in a buying position right now, there are certainly some advantages. This influx of reduced properties means the sellers out there right now are being a bit more aggressive to get their homes sold.

And, these Just Reduced prices are only the beginning.

With a time-tested and proven team by your side, your buying self can get the most bang for your buck within the evolving market. In addition to the properties that have been reduced already, there are certainly properties that can be negotiated down. When you’re ready to get moving on your search, the team at Arlington Realty, Inc. is ready to roll on your behalf.

Now on to this week’s Just Reduced figures.

As of August 17, there are 157 detached homes, 39 townhouses and 239 condos for sale throughout Arlington County. In total, 32 homes experienced a price reduction in the past week:

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: Arlington Single-Family and Townhouse Mid-Year Real Estate 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. Enjoy!

Question: How did Arlington’s real estate market perform in the first half of 2020?

Answer: What a wild year it’s been for real estate. After a huge 2019 (SFH/TH review, Condo review), the 2020 market took off in January with prices and competition up sharply. When Coronavirus hit, that momentum tapered off for a couple of months but prices remained steady because of low interest rates and low supply. The Arlington housing supply was down about 400 listings from March-June, but listing activity is surging to historically high levels in July and August, which is traditionally when we see the spring market momentum slow down.

Let’s take a look at how the single-family detached (SFD) and townhouse (TH) market performed in the first half of 2020 using some awesome charts developed by my new partner, the wonderful Alli Torban. We will take a similar look at condos next week.

Note that all of the data used in these charts is based on sales that went under contract from January-June in order to provide the most accurate reflection of the market during the first 6 months. I don’t like using the date a home sold/closed for analysis like this because closing date often lags 30-60 days behind agreement of sale (contract).

Average and median price continued to rise, but not by nearly as much as last year. The total homes transacted in the first six months dropped significantly to 710 from a previous 5-year low of 838, established in 2019.

22207 (most of North Arlington) remains the most expensive place to buy a SFD or TH and 22204 and 22206 (most of South Arlington) remain the most affordable, although we’ve seen strong appreciation in those markets over the last three years.

For new Amazon HQ2 employees hoping to find a SFD or TH to buy within walking distance of your office, your 22202 zip code offers some of the fewest purchase opportunities in the County, so you’ll want to act quickly if you find something you like.

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Cents of Community: Buying a Car at the Dealership

By ARLnow.com Sponsor

This monthly column comes from the Arlington Community Federal Credit Union as part of their mission to financially empower the community. Credit unions are not-for-profit member-owned cooperatives and anyone who lives, works, worships, volunteers, goes to school, or does business in Arlington, Falls Church, Alexandria, or Fairfax County is eligible to join ACFCU.*

Consumers are starting to purchase vehicles again and now can be a good time to shop for a car.

Dealers are offering discounts to entice buyers, and financing options from financial institutions are very competitive. If you’re in the position to purchase a car, here are some things to consider:

  • Research cars online first: Know what you’re looking for before you go to the dealership. Research quality, safety, features, price and value so you are prepared when you arrive.
  • Compare protection plans and service options between the dealer and a financial institution: Financial institutions may offer options like warranties and GAP insurance that are significantly less expensive than coverage offered by dealerships.
  • Shop around between dealerships: Compare cars at different dealerships and determine the “drive off price” of the ones you’re most interested in. Drive off price includes the list prices, processing fees, taxes, registration and more. If you have an existing car that you’re trading in, compare what different dealerships will offer.
  • Maximize dealership perks: Dealers are trying to entice buyers to purchase right now and may offer the choice between 0% financing or a cash rebate. Compare that to financing offered by your financial institution. If your financial institution can give you a very low loan rate, it may be a better deal to choose the dealer’s rebate and finance with your credit union or bank. ACFCU offers a calculator to help you determine your best option. Some banks and credit unions may “rate match” if another financial institution quotes a lower rate.
  • Shop around if you’re considering a lease: Some credit unions or banks may offer lease-like products with more flexibility and features than the dealerships. Compare options to seek out the most competitive payment scenario.

Not everyone is able to make a major purchase right now, but for those that are, this may be a good time to buy a new or “new-to-you” car. For more tips, contact the ACFCU Loan Advisors at 703-526-0200 option 2. Or apply online to get started, and one of our Advisors will reach out to you and help you through the process.

*Membership eligibility requirements apply. Federally insured by NCUA.

Arlington Firms Make Inc. 5,000 Fastest-Growing U.S. Companies List 

By Joseph Ramos

Sponsored by Monday Properties and written by ARLnow, StartupMonday is a weekly column that profiles Arlington-based startups and their founders, plus other local technology happenings. Monday Properties is proudly featuring Shirlington Gateway. Say hello to the new 2800 Shirlington, which recently delivered a brand-new lobby and upgraded fitness center. Experience a prime location and enjoy being steps from Shirlington Village, a large retail hub with a variety of unique restaurants and shopping options. Spec suites with bright open plans and modern finishes are under construction and will deliver soon!

There were 31 Arlington-based companies included in Inc. Magazine’s annual list of America’s 5,000 fastest-growing private companies.

In all, 204 Northern Virginia companies made the list. According to Inc., these companies saw a median 3-year growth of 162%, generated $12 billion in total revenue and added 16,118 jobs.

The highest ranked Arlington company was Royce Geospatial Consultants, a geospatial intelligence government contractor based out of Clarendon.

“Our experts leverage the harvesting and combination of a variety of datasets,” the company says on its website, “to include emerging open and dark web data with foundational geospatial data to provide true value added Intelligence and GIS data resources used for deeper analysis.”

Other Arlington companies on the list include transportation and defense contractor Objective Area Solutions, biometric identification company Secure Planet Inc., medical data and records contractor Capitol Bridge.

“We are a growing, Arlington-based company that exclusively focuses on public sector aviation programs and we have developed a reputation for being able to quickly respond to our client’s dynamic environment,” said J.J. Stakem, CEO of Objective Area Solutions. “The complexity of these aviation programs in areas such as drones, cybersecurity, environmental programs, surveillance, and many other areas requires consulting companies to have a highly specialized understanding of the technical, organizational, operational, and policy considerations.  OAS uniquely fills that need for our clients.”

Stakem said the company has worked to support the Department of Defense, the Federal Aviation Administration, and NASA.

“Moving forward we will be continuing our work to provide holistic support to public sector aviation programs,” Stakem said. “Over the next 12 months we are focused on growing our engineering support capabilities as a component of our overall solution and we are also expanding our client base to include a wider range of aviation clients within the US Government as well as state, local, and international public sector aviation domain.”

Courthouse startup DivvyCloud also made the list at number 471 with 970% growth. The company said in a press release that its recent acquisition by cybersecurity company Rapid7 meant it was the last year the company would be eligible for the list.

“My co-founder, Chris DeRamus, and I are honored to be included on this prestigious list and ranked among the most innovative and forward thinking companies shaping our nation today,” said Brian Johnson, co-founder and senior vice president of DivvyCloud. “This announcement further validates that we are fulfilling our mission to help enterprises accelerate innovation without loss of control.”

The following list includes the Arlington companies, their ranking on the Inc. list, and their 3-year growth rate.

Photo courtesy DivvyCloud. Vernon Miles contributed to this story.

Neighborhood Spotlight: 5 Great Spots for Brunch, Drinks and More!

By ARLnow.com Sponsor

This content was written and sponsored by The Keri Shull Team, Arlington’s top producing residential real estate team.

In this week’s Neighborhood Spotlight, we are sharing a throwback video of some of the best places to eat in Crystal City! All of these restaurants and bars are open for in-house dining or take-out options right now, so you can enjoy their fare from the comfort of your own home if you want!

As always, we are looking for more places to highlight in our Spotlight series. So if you have a favorite restaurant or nightlife spot that you’d like to see us share, just let us know down in the comments — we’d love to check it out!

Bob & Edith’s Diner

As a 24/7 joint that’s been run by the same family for 3 generations of owners, Bob & Edith’s Diner has existed as a mainstay in the Arlington dining scene for over half a century. Bob and Edith Bolton first opened their doors in 1969, and their family has been serving traditional diner fare ever since.

If you are looking for a classic diner experience in Arlington, you can’t do much better than Bob & Edith’s. From the homey, “seat yourself” atmosphere to the no-nonsense, southern-inspired food, everything about this joint screams comfort.

Freddie’s Beach Bar & Restaurant

You don’t have to go to Virginia Beach to get the full beachside experience in Virginia! Freddie’s Beach Bar & Restaurant is a high-energy, vibrantly colored spot for cocktails and classic American fare in Crystal City.

As one of NoVA’s most prominent LGBTQ nightlife spots, Freddie’s has become famous for its welcoming atmosphere and drag nights, though there are plenty of other specials to enjoy, as well. Their signature “Crazy Hour” lasts from 4-7 p.m. on every night that they are open, and they host massively fun karaoke offerings to boot!

Please note that, during the current COVID-19 regulations, Freddie’s Beach Bar is offering curbside takeout as well as both interior and exterior dining. Their award-winning brunch is still available on the weekend, but it is now a menu-based experience as opposed to their traditional buffet style.

Federico Ristorante Italiano

Right down the road from Freddie’s is another establishment owned by Freddie Lutz, the Italian restaurant Federico!

For 25 years, Lutz worked as a maitre d’ at Cafe Italia, a long-standing institution in the world of Arlington food. When the eatery shuttered its doors in April of 2018, he stepped in to revive it as Federico.

Federico boasts authentic Italian food in Northern Virginia, as well as a unique collection of drinks and desserts to sate your appetite for the sweet and exotic!

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Your Beermonger: Hops and Hope

By ARLnow.com Sponsor

This sponsored column is written by Steve Quartell, beermonger at Arrowine (4508 Lee Highway). Sign up for the email newsletter and receive exclusive discounts and offers. Order from Arrowine’s expanding online store for curbside pickup.

Happy Smarch 136th.

I’m told this used to be called mid-August, which means from Yakima Valley to the patios of local breweries to maybe even your friends’ backyards, hops are nearly ready to be picked for the 2020 crop.

Bines have been creeping and climbing all summer. And the other day I came across a photo that just… hit me.

Photo via Kent Falls Brewing Co. Instagram

Just a single, not-quite-mature hop cone from Kent Falls Brewing Company in Connecticut. I have no connection to them at all… but man did it touch on something.

Because believe it or not, we are less than 40 days from the end of Summer. So despite everything that’s happened this year — harvest season is coming.

It’s something to keep in mind for sure when we sit down around the dinner table. Human hands still bring more food to our table than we generally ever think about, and hop harvesting is intensely manual. Something to be grateful for — and also as the time of year is upon us, maybe even hopeful?

Every year the jokes are the same, “Oktoberfest? It’s September! (Or August! Or July!?)”

“Pumpkin beer? Already? Again?”

But what if we took a different tack? We can look back on last year and roll our eyes at ever more seasonal creep, but I look forward to featuring a few good pumpkin beers, and more than a few good and great Oktoberfest beers. And as the leaves eventually change — toward wet hop beers, even more ambers and brown ales — sipping on a nice stout by a fire.

So, what if instead, we looked forward? What if we hope for something coming over the horizon?

The word “hope” almost catches in my throat. But there has got to be something to look forward to. Maybe you look forward to wet hopped, fresh from the harvest IPAs and Pale Ales. Maybe it’s Oktoberfest and the clean but slightly sweet finish of a Bavarian Helles, or the perfect balance of noble hop, and munich malt of a Marzen.

It’s almost like the serotonin boost you get from just planning a vacation. I know the thought of a great Marzen has gotten me through this summer and boy, dropping a few barspoons full of my wife’s homemade eggnog in a snifter of Kentucky Christmas morning might pull me through the rest of the year.

Because, whether it’s early or not for pumpkin ale — the beers appearing on the scene right now start my favorite three or four months of beer — Oktoberfest, Pumpkin beers and wet hop beers all around.

I find brown ales, amber ales and oatmeal stouts really hit just right as the leaves change and it’s all capped off by fresh Sierra Nevada Celebration and the countdown to Hardywood Gingerbread Stout and variants

So with that in mind, let me know in the comments what you most look forward to this time of year and beyond — you may find they’re some of the beers and styles I’ve mentioned throughout the column — if so, go ahead and take 10% off on me with promo code FORWARD.

Cuz we could all use something to look forward to right?

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:

4389 Old Dominion Drive
8 BD/6 BA, 1 half bath single-family home
Agent: Keller Williams Realty Falls Church
Listed: $1,999,000
Open: Sunday 1-4 p.m.

 

3801 Washington Boulevard
4 BD/4 BA single-family home
Agent: Weichert Realtors
Listed: $1,450,000
Open: Sunday 2-4 p.m.

 

2417 S. Dinwiddie Street
5 BD/4 BA single-family home
Agent: Kw Metro Center
Listed: $1,150,000
Open: Saturday 2-4 p.m.

 

1737 13th Street S.
4 BD/3 BA, 2 half bath villa/townhouse
Agent: Compass
Listed: $969,000
Open: Sunday 1-4 p.m.

 

5829 5th Street S.
3 BD/3 BA single-family home
Agent: Coldwell Banker Residential Brokerage
Listed: $835,000
Open: Saturday 2-4 p.m.

 

3616 Arlington Boulevard
3 BD/3 BA single-family home
Agent: McEnearney Associates, Inc.
Listed: $725,000
Open: Sunday 1-4 p.m.

 

880 N. Pollard Street #701
2 BD/2 BA condo
Agent: Bethesda Realty Group, Llc
Listed: $620,000
Open: Sunday 1-4 p.m.

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.

Inventory is growing in Arlington…

You may have read that inventory is down in many markets around the country, yet we’re seeing a different trend in Arlington. Could this be the result of an exodus to the farther suburbs? Are fewer people interested in living close-in as a result of COVID-19?

The answer isn’t as simple as yes or no. In fact, buyers are still ratifying contracts at a brisk pace in Arlington, and inventory for single-family options continue to decline week-over-week. Arlington remains in high demand, make no mistake.

But just as single-family properties continue to be highly sought-after in almost all price points, condos do seem to be falling out of favor in the current market. There are 67% more condos available today in Arlington than there were 6 weeks ago.

Inventory available at any given time should be viewed in comparison with how much inventory is being absorbed. Over the past month, we’ve crept up to about 1.5 months of inventory across all property types. But for single-family properties, we have less than half a month available! Historically low mortgage rates, still holding below 3% for a 30-year fixed, continue to fuel buyer urgency and desire to lock in a low payment.

This past week in Arlington, sellers listed some 91 properties for sale while buyers ratified 59 contracts. 32 of the ratified contracts were on homes listed just within the past week!

There are currently 370 homes for sale in Arlington, 19 more than last week. 119 are detached homes, 30 are townhouses/semi-detached, and 221 are condos. Average days on market (DOM) is 48 and median DOM is 30.

The median list price of currently available properties is $750,000, while the average is $944,802. Last year for the same week, sellers listed 43 homes and buyers ratified 57 contracts.

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

Boring Title: Housing Market Update

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.

D.C. Metro area housing market update (from what we’ve seen).

  • 20% increase in sales price from June

July was a record-breaking month for home sales price in the D.C. Metro area. The median sales price has reached a decade high. With rates falling below 3 percent, buyer demand continued to skyrocket. Led by Northern Virginia, Alexandria and Arlington posted decade high median prices. Additionally, homes are selling quickly, keeping inventory tight. According to Redfin, the D.C. area is the fourth most competitive housing market in the U.S.

  • 13% increase in opened deals from June

July deals did not solely increase in sales price, but volume as well. We received our most deals ever in July, up 13% from June — an indication of increased seller sentiment. Redfin reports that this is the first time ever on record that July closings gained from June. Our early data predicts a 7% uptick in median sales price due to the competition, especially on single-family homes. The rebound of the D.C. Metro area housing market has been incredible. Amidst the most unpredictable times in the modern era, it has been a force for economic recovery.

  • August projections: slight increase in median sales price, increase in volume

Data from our deals set to close in August reflects a slight increase in purchase price from July. The record-breaking home prices continue to beat July’s decade-high median sales price. The rates are too low to miss out on securing a new home for consumers. Our early data predicts a 7% uptick in median sales price due to the competition, especially on single-family homes. Not only will price increase, but volume as well. As seller sentiment continues to rise, the already strong buyer demand is rising as well.

Have questions related to title insurance? Email Latane and Matt at [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!

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