Feature

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.”

Our real estate market in Arlington has slid backward this week with only 41 ratified contracts and a meager 43 new listings. Last year at this time, we had 63 ratified contracts and 50 new listings.

Can anyone remember what else happened this week a year ago? Amazon announced it was moving its HQ2 to Arlington, and the town was abuzz with the news and wild speculation on its impact on our housing market.

The lack of inventory continues to plague our market. A year ago, we had 476 active listings of homes for sale, resulting in 1.9 months of inventory. This week we have only 236 homes actively for sale, and at our current rate of absorption we now have just 1.4 months of inventory. Compare that to the current national inventory rate of 4.3 months. So Arlington home buyers are super challenged.

There’s finally a glimmer of good news on the national front. Housing starts have increased for both single family and multi-family homes. So we’ll see more inventory coming into the market. Single family starts are up 3.8% over last year, and multi-family starts are up 8.6%. This is the highest level of housing starts in 12 years. It’s about time.

When a buyer can’t find a home to purchase, their alternative is to rent. And so the rental market both here in Arlington and nationally is hot hot hot, if you’re a landlord; and horrible horrible horrible if you’re a tenant. Rental inventory is also down by about 1 percent, and rent rates are up about 3.8% for lower end homes. With the rental market so hot, it attracts more investors who in turn compete with end-user buyers for the available inventory putting an ever greater burden on buyers to compete.

Meanwhile, mortgage rates held steady this week with the 30-yr fixed rate at 3.75%-3.85%…

Best wishes to all for a wonderful Thanksgiving holiday next week. Let your family and friends know how much you love them.

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

Boring Title: Allied Title & Escrow Partner with Earnnest

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.

Exciting news for Allied Title & Escrow!

Allied Title & Escrow, the fastest-growing title company in DMV (Washington, D.C., Virginia and Maryland), has partnered with Earnnest, the future of real estate payments, to be the first title company in the region offering digital transfers of earnest money deposits (EMDs) through Earnnest’s innovative technology platform.

Earnnest enables buyers to securely send EMDs directly to Allied Title & Escrow from the buyers’ financial institution through a proprietary way of using ACH payments, mitigating the risk of wire fraud and eliminating the inconvenient use of paper checks. Allied Title & Escrow is a team of industry experts and attorneys with more than 30 years of experience. The company provides residential and commercial services throughout Virginia, Washington, D.C. and Maryland.

“Allied is committed to investing in best-in-class technology to make real estate transactions easier for buyers, sellers, agents and developers,” said Allied Title & Escrow CEO Latane Meade. “We’re excited to partner with Earnnest to give our clients a cutting-edge solution to an obvious industry issue.”

To address current EMD complexities, Earnnest connects to 12,000 banks nationwide, and has banking-level security and encryption. Earnnest sends updates on money movement to agents, buyers and escrow holders throughout the transaction. Additionally, buyers no longer have to pay a $30 wire fee; Allied Title & Escrow is covering the cost of the transaction.

“We’re thrilled to announce this partnership with Allied Title & Escrow,” said Rick Altizer, Earnnest CEO. “They are known for excellent customer service, and through Earnnest, clients will receive an added level of convenience and value.”

Added Meade: “Using Earnnest, our buyers can easily transfer EMDs through their bank using ACH payments, without a $30 wire fee or 30-minute drive to drop off a check; this partnership provides a win-win for everyone.”

ABOUT ALLIED TITLE & ESCROW

Allied Title & Escrow is a team of industry experts and attorneys with 30+ years of experience providing residential and commercial services throughout Virginia, Washington, D.C. and Maryland. Visit www.alliedtitleandescrow.com.

ABOUT EARNNEST

Greenville, S.C. based Earnnest is changing how money moves in real estate, allowing buyers to securely and electronically deposit funds directly to an escrow holder. Earnnest keeps agents, buyers and escrow holders in the loop with automated emails and tracking information. Visit Earnnest.com.

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!

Arlington Pet of the Week: Colin

By ARLnow.com
1/5

This week’s Pet of the Week is Colin, a rescue brought to Arlington from South Carolina who loves chasing squirrels and smelling the flowers.

Here is what Colin’s owner said that he has to say about his life in Arlington:

Hi, I’m Colin! People always say that Colin is a unique name for a dog, and I think it fits my unique story. I was born in South Carolina, and was brought to DC by Lucky Dog Rescue in 2017 when I was just a baby. When my human dad found me, he knew it was meant to be-Colin is my human dad’s middle name!

I have been an Arlington Forest resident ever since and love living here, despite those mischievous chipmunks and squirrels roaming the neighborhood. I do my part to keep them out of my (and everyone else’s) yards, and you can often find me awkwardly sticking my nose in drainage tubes to hunt them down. Known around the neighborhood and dog park for my boundless energy, I often use my incredible speed to steal others’ tennis balls, but I love playing with other dogs. I love meeting people and will immediately roll over to get belly scratchies (a little to the left, please). My humans reward me with affection rather than food, but I do love munching on fallen ice cubes dropped by my other clumsy human.

I am not without my vices, however; out of desperation, my dad played squirrel videos on Youtube when I was scared at the vet to help distract me, and I have been slightly addicted ever since. If there is any kind of screen around, I push my nose to it to try to make a squirrel video appear. Once I even bought a $60 game subscription from my dad’s Amazon account!

Life is too short not to be happy-stop and smell the flowers once in a while! (see picture :) )

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!

Each week’s winner receives a sample of dog or cat treats from our sponsor, Becky’s Pet Care, along with $100 in Becky’s Bucks. Becky’s Pet Care is the winner of eight consecutive Angie’s List Super Service Awards, the National Association of Professional Pet Sitters’ 2013 Business of the Year and a proud supporter of the Arlington County Pawsitively Prepared Campaign.

Becky’s Pet Care provides professional dog walking and pet sitting in Arlington and all of Northern Virginia, as well as PetPrep training courses for Pet Care, CPR and emergency preparedness.

Small Biz Focus: #ShopSmall 10 Years Strong and Counting

By ARLnow.com Sponsor
1/5

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

By Alex Held, Small Business Manager, BizLaunch

While in its 10th year, Small Business Saturday, held on November 30, continues to be incorporated into many families’ holiday shopping traditions. In fact, in 2018 U.S. consumers reported spending an estimated $17.8 billion at independent retailers and restaurants on Small Business Saturday.

Additionally, 59% of small business owners report that Small Business Saturday contributes significantly to their holiday sales each year. With those numbers Small Business Saturday is BIG business for many of our small and independent retailers across the country and here in Arlington.

In Arlington, small business patrons can #shopsmall while entering for a chance to win prizes, find deals and discover unique local shops by participating in the shopping passport program coordinated by One More Page Books & More.

Shoppers can participate in the program by picking up a passport at any participating retailer; many of the retailers are also running deals and promotions on Small Business Saturday. In Arlington, the following retailers are participating in the passport program:

In addition to the passport program, shoppers looking to support small businesses in Arlington this holiday season and year round can leverage American Express’s Small Business finder. There shoppers can find any small business that accepts American Express right within their neighborhood.

Locally, BizLaunch offers numerous resources to support small businesses, but one that helps shoppers find small businesses while serving as an opportunity for businesses to receive FREE promotion is the BizLaunch Small Business Directory. Every small business in Arlington is welcome to upload their business listing with links to their website and logo to the directory, easily and most importantly for FREE. Additional resources for Small Business Saturday, including quick branding kits can be found online at American Express.

Programs like Small Business Saturday among others help keep local dollars within Arlington, representing the community’s character, while contributing to a vibrant business community making Arlington an ideal place to live, work and play.

Celebrando y apoyando negocios locales para más información visite BizLaunch en Español.

For more information about how BizLaunch supports small businesses visit www.bizlaunch.org.

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 love a quirky holiday or two around here and today, November 20, is G.O.H.A.R.D. Day. So, what does that stand for exactly?

Globally Organized Hug A Runner Day. That’s a new one for us, but for all those folks inspiring us locally with their running endeavors (many of which have a charitable benefit!) we salute you and give you a big air-hug.

Speaking of running (and outdoor activities in general), Arlington County is an outdoor lovers’ paradise. Here are a few stats to throw your way: 98 percent of residents are within a 10-minute walk of a park; there are more than 150 parks and 49 miles of trails throughout the county; and many of our park facilities boast programs galore, spanning 55-plus activities and camps throughout the summer.

So, if any active lifestyle is up your alley, we can help you find the home of your dreams nearby. When you’re ready to get running (pun intended, obviously) on your real estate search, the team at Arlington Realty, Inc. is ready to roll.

As of November 18, there are 136 detached homes, 17 townhouses and 88 condos for sale throughout Arlington County. In total, 19 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: The Missing Ultra High-End in Arlington

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: I recently saw a home listed in Arlington for almost $30M. Are there neighborhoods in Arlington with ultra-expensive homes like this?

Answer: We hear a lot about the “missing middle” in Arlington housing, but there’s another market that Arlington struggles to support that nobody is talking about… the super-rich. Sure we have plenty of homes that sell for $1M-$2.5M (457 sold in 2019) but in 2019 there were only seven sales over $2.5M and just one over $3M (and that was a sub-dividable lot). So what gives with everybody calling Arlington “expensive” if we can’t support the super-rich? Where do they live? (I hope my sarcasm is coming across…)

Arlington’s Most Expensive Homes

The recently listed $28.5M home, by Mark Lowham of TTR Sotheby’s, on the Potomac River side of Chain Bridge Road is an anomaly in Arlington. Outside of the prestigious Country Club Hills neighborhood and Turnberry Tower penthouse-level condos, sale prices in Arlington rarely eclipse the $3M mark and even in those communities the handful of $3M+ sales historically top out at $4M. And then you have a very small pocket of ultra-luxury homes at $5M+ along the Potomac, off Chain Bridge Road, which fall within Arlington County, but actually have a McLean mailing address and zip code (22101).

Note: There are dozens more homes in Arlington worth $3M-$5M that just haven’t been sold. Many are custom built in the last 10-15 years with the original owners still occupying them. There are also a handful of private sales that aren’t entered into the MLS because they were sold off-market.

Why Doesn’t Arlington Have Ultra-Expensive Homes?

So with so much wealth and close proximity to D.C., why doesn’t Arlington have more ultra-expensive homes? The answer is lot size.

For anybody that has looked for a home with a little elbow room/privacy in Arlington, you’ve reached the unfortunate conclusion that it’s very difficult to find anything with more than ¾ acres (even ½ acre is highly coveted) and there are just a small handful of properties with more than 1.5 acres. Smaller lots make it difficult to build enough house to justify a $5M+ price tag.

Where To Spend $5M+?

So where do people with $5M+ to spend on a home live? In Northern Virginia, most of those homes are in McLean or Great Falls, as well as further west in Loudoun County’s horse/wine country. D.C.’s most popular ultra-expensive neighborhoods are Georgetown and Kalorama, with a spattering of other neighborhoods west of Rock Creek Park. In Maryland you’ll find the most expensive homes in Potomac along River Road, as well as Chevy Chase and Bethesda.

Enjoy Some Photos

For those of you who are here just for the pictures, here you go! I’ve linked to $5M homes either for sale or sold in the last few years in the area:

Whether or not you’re looking for a $5M home or $50k parking spot, feel free to reach out to me at [email protected] to schedule a meeting to discuss your real estate plans!

If you’d like a question answered in my weekly column or to set-up an in-person meeting to discuss local real estate, 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 D.C., and Maryland with Real Living At Home, 2420 Wilson Blvd #101 Arlington, VA 22201, (202) 518-8781.

Photo via Mark Lowham, TTR Sotheby’s

Startup Monday: Should Local Startups Take Bigger Swings?

By ARLnow.com

Editor’s Note: 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.

(Updated at 1:45 p.m.) Startups in Arlington and the D.C. area need to take “bigger swings” if the region hopes to become a tech hub like Silicon Valley.

That’s the message from a panel discussion hosted by DCA Live earlier this month at Marymount University in Ballston.

At the Big DCA Growth Summit, panels of investors, founders, academics and other innovators reflected on Arlington’s big Amazon HQ2 win and what might be ahead for the area.

Amazon’s presence, with its forthcoming office campus in Pentagon City and some 25,000 planned jobs, will help bring excitement and more business diversity to a local tech scene that’s heavy on government contractors and cybersecurity firms.

“I’m honestly convinced that Jeff Bezos was looking for a place that had less hype around it,” said Mark Walsh, a local angel investor. “D.C. is begging for more attention for the good stuff it does outside of the government.”

If Amazon could bring with it more of a West Coast tech mindset, panelists said, it could help the D.C. area better compete with Silicon Valley’s tech ecosystem and generate more billion-dollar “unicorns.” More big startup investment wins would, in turn, help fuel investments in more startups — a virtuous cycle.

“Too many companies in the Mid-Atlantic — the exits were good but only a couple hundred million dollars,” said Scott Frederick of Rosslyn-based Sands Capital. “We need to take bigger swings and get more billion dollar companies like Cvent and EVERFI. Entrepreneurs in this region should think bigger. In the Valley they go to restaurants and park next to Bugattis — it’s a different mindset.”

(There’s another argument to be made, however, for not running an otherwise healthy business into the ground in an effort to become a unicorn when it could be a profitable multi-million dollar company.)

Frederick said, as others have noted in the past, that there’s a bit of gap between seed funding for early startups and growth capital for more mature companies. Those seeking Series A and B rounds, between the seed and later rounds, sometimes struggle to find it from investors, hurting the region’s tech ecosystem.

Funding hasn’t been a problem for at least one local startup co-founder, who recently raised $8 million, with more on the way. Eman Pahlevani, co-founder of Rosslyn-based catering marketplace Hungry, said that the affluent D.C. area is particularly good for those seeking early funding from angel investors.

“D.C. has one of the most robust angel communities. You can raise money fairly quickly in D.C. just by having relationships with angels,” said Pahlevani, who was also a cofounder of Livesafe. “If you’re successful here, word spreads quickly. It’s easier and quicker to raise money here than on the West Coast, and I’ve done both. I just think the opportunities here are immense.”

Another local asset: lots of people who are in a position to help local startups.

“Entrepreneurship is a contact sport,” said France Hoang, co-founder of Tysons-based BoodleAI. “As in, [personal] contacts. This is where my network was.”

Hoang said a key to bigger startup exits is finding fearless startup founders who can take risks and handle the dark “WFIO” moments that many startups experience — as in, “we’re f–ked, it’s over.” Pahlevani agreed.

“We’ve had our WFIO moments,” said Pahlevani, who added that part of startup success is in motivating one’s team and not lamenting the challenges. “There’s a lot of time spent building internal momentum, celebrating the smallest wins and building team momentum. Everyone working with you needs to believe it’s going to happen. Get your rocketship going. Get everyone on board.”

(more…)

Legal Insider: President’s Proposed Changes in Tip Rules for Employees

By ARLnow.com Sponsor

This is a sponsored column by attorneys John Berry and Kimberly Berry of Berry & Berry, PLLC, an employment and labor law firm located in Northern Virginia that specializes in federal employee, security clearance, retirement and private sector employee matters.

By John V. Berry, Esq.

The President recently proposed a new federal rule which will affect the wages of employees who earn tips.

The new rule was proposed on October 8, 2019 by the Department of Labor (DOL) and would permit employers to require widespread sharing of tips with other types of co-workers. One of the major industries affected would be the foodservice industry. The newly proposed rule would permit employers to share wait staff tips with food preparation staff and others (e.g. dishwashers, food delivery personnel).

Difficulties With the New Tip-Pooling Rule

A problematic part of the newly proposed rule would give employers newfound flexibility in assigning non-tipped assignments to workers who rely on gratuities for the major portion of their income. The restaurant lobbying industry has sought these types of changes for some time. Former President Obama’s Administration had previously mandated that tips belonged to the workers that received them.

One of the major problems with the new rule, for employees that earn tips is that it takes funds earned by them and transfers them to employees that don’t earn tips. By doing this, restaurant owners are potentially able to compensate food staff (non-tip earners) with lower salaries.

Tipped Employees Wages will be Affected

The DOL, in their proposal, even acknowledges that the new rule will result in tipped employees spending more time on lower-paying duties:

“The removal of the twenty percent time limit may result in tipped workers such as wait staff and bartenders performing more of these non-tipped duties such as ‘cleaning and setting tables, toasting bread, making coffee, and occasionally washing dishes or glasses.’ …Tipped workers might lose tipped income by spending more of their time performing duties where they are not earning tips, while still receiving cash wages of less than minimum wage.”

Employers will Gain

Employers will gain from the situation and may be able to provide lower salaries to non-tip earners, offsetting the loss with tip income. The DOL also provides the real rationale for the change in the proposed regulation: “[E]mployers that had been paying the full minimum wage to tipped employees performing related, non-tipped duties could potentially pay the lower direct cash wage for this time and could pass these reduced labor cost savings on to consumers.”

The proposal should become final in about 6 weeks and could have some changes in the final version. However, if a new administration comes in, the tip-pooling policy could potentially change once again.

Conclusion

If you are in need of employment law representation or advice, 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: Deadline to Join Solar and EV Charger Co-op

By ARLnow.com Sponsor

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.

Nothing motivates like a deadline, right? If you’ve been thinking about solar, now is the time to act.

Act now to join the Arlington Solar and EV Co-op before the November 30 deadline.

Homeowners don’t need to purchase a solar system or electric vehicle charger by November 30. Rather, this deadline is to sign up for a no-cost and no-obligation solar assessment of your home. Meeting the deadline also guarantees that you can purchase solar at the discount offered only to the co-op members by the installer.

Get started by providing some basic information on the Solar United Neighbors website. Folks interested in solar will receive a no-obligation roof screening and project proposal.

The Federal tax credit is gradually phasing out between now and 2022. Next year, the solar tax credit will be reduced to 26 percent. In 2021, it will be 22 percent and in 2022 and beyond, per the existing legislation, it will no longer be available to homeowners.

More than 160 Arlington homeowners have previously installed solar in our Solar and Electric Vehicle Co-op. The cooperative helps Arlingtonians buy solar and EV chargers at a discounted price. The cooperative also provides support to participants to make the purchasing process easy.

New Homes in Arlington: November 15

By ARLnow.com Sponsor

Welcome to New Homes, a biweekly column highlighting the new construction real estate market, written by Conor Sullivan and Dave Moya of Three Stones Residential at Keller Williams Realty. We are here to share our experience and expertise in lot acquisition, financing and construction of custom homes. 

If you’re looking to update your home but not quite ready to purchase New Construction, a kitchen remodel may be a great option for an upgrade. The kitchen tends to be the center gathering space in a home, and is one of the most common rooms buyers look to for updates. It is a big project to take on, so we’ve put together a list of guidelines to consider before getting started.

Set Your Budget: Kitchen renos take time and money. Think realistically about how much you can spend on this project. When budgeting out, you may want to aim more conservatively in case there are unplanned costs during the process. A great rule of thumb is to have around 10% to 20% for those extra costs as a buffer. You can visit kitchen and home stores to look at a variety of styles and designs, look at costs, and determine what you really need and can afford.

Plan The Layout: It may benefit you to work with a kitchen designer during this portion of the process to determine how the space you are working with can be best remodeled into your dream kitchen. Do you want to add an island? Is there realistically enough space to do that? These are the types of questions you can work with your designer around. While a space for entertaining, the room also should be practical and functional. Your designer can also work with you on layout and materials options, so you can see what will look best at different costs, fulfilling all your dream kitchen desires. To help save a bit of cash, try and keep the same footprint of your existing kitchen, unless it’s necessary to move. Moving plumbing and electrical could bring unforeseeable issues.

Find The Right Contractor: It has been said that a contractor is only as good as his last job. Choosing someone to work with for a large project like a kitchen renovation should be done thoughtfully. Don’t be afraid to ask for references and inquire about how their work habits on-site – were they timely, did they supervise subcontractors? Did anything go wrong and how did they handle it? Ask if they work with a variety of subcontractors or if they have a usual team they work with.

Prepare for the Reno Lifestyle: While you are preparing to get a brand new kitchen that will host all your future yummy family dinners, you also need to think about how your family will eat during the course of the renovation. These projects can take anywhere from 4 months to a year depending on the size. You may want to budget for take-out, and also prep meals that can be frozen & microwaved, or if you’re lucky – rely on friends and family to host you!

Renovations are exciting but can be daunting. At Three Stones Residential, we are here to help. We can not only help you buy or sell a home, but we are your real estate consultants for life. If you have any questions about a renovation or home upgrade project, we have the resources to help and can guide you in the best direction. Contact us at [email protected] or 571-429-7670.

Below is a list of new homes currently on the market in the Arlington area.

Want to learn more about financing a New Home build? McLean Mortgage (NMLS ID: 99665) can handle all of your construction financing needs. You can build your new home with as little as 5% down. Contact construction loan expert Troy Toureau (NMLS ID: 5618) at 301-440-4261 or AnyHomeLoans.com to learn more.

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:

928 26th Street S.
5 BD/4 BA single-family home
Agent: Neighborhood Real Estate, Llc
Listed: $1,299,000
Open: Sunday 1-4 p.m.

 

2131 N. Nottingham Street
3 BD/2 BA single-family home
Agent: Re/Max Allegiance
Listed: $874,900
Open: Sunday 2-4 p.m.

 

101 N. Granada Street
3 BD/2 BA single-family home
Agent: Long & Foster Real Estate, Inc
Listed: $775,000
Open: Sunday 2-4 p.m.

 

2200 N. Westmoreland Street #209
2 BD/2 BA condo
Agent: Weichert Realtors
Listed: $599,900
Open: Saturday 1-3 p.m.

 

4818 28th Street S.
2 BD/2 BA condo
Agent: Samson Properties
Listed: $499,900
Open: Sunday 1-4 p.m.

 

1210 N. Taft Street #203
1 BD/1 BA condo
Agent: Redfin Corporation
Listed: $340,000
Open: Sunday 1-4 p.m.

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