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Ask Eli: Mid-year condo market review (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. Video summaries of some articles can be found on YouTube on the Eli Residential channel. Enjoy!

Question: How was the market for condos in Arlington during the first half of the year?

Answers: The condo market loves stability, often it’s a bit too stable for most condo owners (low appreciation), so after a wild ride from 2019-2021, we can finally say with a high level of confidence that the Arlington condo market has found its level in the wake of Amazon HQ2 (rapid appreciation) and COVID (supply surge and depreciation).

The data below is based on the sales of apartment-style condos in Arlington during the first six of of the past five years. Note: I filtered out new construction data because it throws off the readings on actual market trends and gives a distorted view of pricing in 2021 (mostly due to 2000 Clarendon sales).

Average Prices Down Slightly

I’m generally not a big fan of using $/SqFt because it can throw off so many false readings, but in this case, I think $/SqFt is a more reliable way of reading the year-to-year price trends of the market than average sale price, but both readings indicate pretty similar market conditions over the past five years.

  • The average price for a 1 BR decreased by .6% to just over $375,600 and the average $/SqFt decreased by 2.5%
  • The average price for a 2 BR decreased by 1% and the average $/SqFt decreased by 3%
  • Overall, prices have changed very little since the Amazon HQ2 bump in 2019, with just 1.6% appreciation for 1 BR in the last five years and 6.9% for 2 BR on an average price basis, and a 2.7% increase for 1 BR and 3.8% increase for 2 BR on a $/SqFt basis
  • On average, condos are selling for just under their original asking price
  • Keeping up with the market-wide trend of low supply, sales volume in the first half of 2023 came in just higher than 2020, when the market froze for Q2. 2023 sales are down well below the first half numbers over the rest of the decade.

  • Just over 50% of condos are selling within the first ten days on market
  • Just over 50% of condos are selling for at or above their original asking price

(more…)

The advent of veterinary urgent care hospitals

By ARLnow.com Sponsor
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One of the newest trends in the veterinary field has been that of urgent care services and stand-alone facilities.

Dr. Gloor and Dr. Ungerer are pleased to announce the Urgent Animal Care of Arlington — providing urgent care veterinary services to the Arlington and surrounding areas. This has been a long-term goal of Dr. Gloor and Dr. Ungerer and we are excited to see it finally come to fruition!

While general practitioner veterinarians are typically well equipped to handle the full range of veterinary care, from new puppy visits up through the various illnesses, injuries, and chronic diseases that may come with time and into the geriatric years, in addition to the more urgent or emergent cases that may come up unexpectedly — such as acute lamenesses, urinary tract infections, bee stings, dietary indiscretion, coughing, just to name a few — the pandemic pet boom has forced a change on this workflow.

Prior to 2020, many practices had sufficient same-day appointment availability to accommodate urgent visits, and relied on local emergency hospitals as primarily as a back-up.  However, with the increase in pet ownership over the course of the pandemic, as well as changes in the work force, both general practitioners and emergency hospitals became increasingly busy; in fact, it is not an infrequent occurrence that emergency hospitals may temporarily close when they are at capacity, and it can take days to even weeks to get in with a pet’s primary veterinarian for routine visits or follow-up on chronic issues.

This is difficult for all parties — pet parents, family veterinarians, and the emergency hospitals as well — as we all have the same goal of getting prompt care for our much loved patients and pets!

General practices have worked to find creative ways to account for these unpredictable visits — for example, at Clarendon Animal Care we keep a set number of appointment spaces strictly reserved for same-day/urgent care appointments; some hospitals have a dedicated doctor to handle urgent care cases, or will “work-in” urgent care cases between scheduled appointments.

In the past couple of years, stand-alone veterinary urgent care practices have begun to spring up to help bridge this gap between general practices and emergency care. Similar to urgent care facilities on the human medicine side, veterinary urgent care hospitals are equipped to handle the urgent but non-emergency situations that may come up during times when a pet’s primary veterinarian is unavailable or closed, or if a pet does not yet have an established relationship with a family veterinarian.

While by no means an all-inclusive list, the following are some examples of situations that are appropriate for an urgent care visit:

  • Ear infections
  • Skin issues — lacerations, scrapes, irritation, infection, severe itchiness
  • Acute onset of limping or lameness
  • Diarrhea and vomiting
  • Coughing

Some examples of situations that may not be appropriate for an urgent care visit, but rather a 24-hour emergency hospital, include:

  • Severe trauma (hit-by-car, fall from high height)
  • Severe seizures
  • Labored breathing
  • Protracted vomiting for more than 24 hours
  • Extreme lethargy

Most urgent care facilities are not equipped to hospitalize patients or to perform surgery so would refer more complicated and involved cases to an emergency or specialty hospital.  They also are typically not able to provide wellness services such as vaccinations (aside from Rabies vaccines in the case of bite wounds), medication refills, behavior consultations, or nutrition consultations.

In many cases, an urgent care facility will not have access to a pet’s previous medical history or vaccination status, so it’s especially helpful if pet parents have access to up-to-date vaccine information, as well as a list of chronic or historic problems and current medications the pet is taking.

It’s important to note that veterinary urgent care hospitals are not a substitute for having a relationship with a primary or family veterinarian — a primary veterinarian focuses not only on wellness care and management of chronic conditions, but assimilates all of a patient’s history together to provide a comprehensive treatment plan. 

Get your tickets today for Red, White and Brews!

By ARLnow.com Sponsor

Wear your most patriotic outfit pieces and enjoy BBQ, beer tastings, tailgating and more at the best celebration of the season!

Join DC Polo Society, DC Fray // District Fray and Congressional Polo Club for Red, White + Brews this Sunday, July 16 as part of our sun-soaked, Sunday polo series where tradition and modern fun collide.

Daycation to the countryside for polo, yard games, signature cocktails, food trucks and themed activities. Friends, families and (leashed) dogs are welcome.

Thank you to this year’s sponsors: MONKO, Ghostburger and Fresca Mixed.

Get Tickets today!

Children’s National — Northern Virginia’s most advanced provider of pediatric specialty care

By ARLnow.com Sponsor
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Children’s National, ranked as the fifth best children’s hospital in the nation by U.S. News & World Report, and is the only hospital in the area nationally ranked in all ten pediatric specialties.

With six convenient locations in Northern Virginia, including Fairfax, Arlington, Gainesville, Reston, Leesburg and Fredericksburg, innovative children’s care is now right nearby.

What sets Children’s National apart is that for over 150 years, the entire staff has been dedicated exclusively to treating kids. All of the doctors at Children’s National are specially trained in pediatric medicine, and our specialists have received advanced training in their particular discipline. So their “bedside manner” is kid-centric, ensuring a warm and welcoming environment for every patient. Each location is designed specifically for children, to keep them comfortable and better provide for their unique needs. From hospital beds to diagnostic and surgical equipment, everything at Children’s National is specifically designed for pediatric care.

Two significant specialties the multidisciplinary teams at Children’s National Northern Virginia excel in are cardiology and neurosurgical care.

Pediatric Cardiology

Currently, Children’s National treats an extensive range of cardiac conditions, from arrhythmias to the rarest heart issues. Of course, the multidisciplinary teams also work together to address the concurrent conditions that can often accompany serious heart issues.

Innovative ways to detect heart defects in utero and implanting child-sized pacemakers are just the beginning, as continuous research is a hallmark at Children’s National. Advancing the science of pediatric care is an ongoing endeavor, and many of Children’s National’s specialists have perfected revolutionary new methods to treat what were once considered “untreatable” conditions.

Neurosurgical Care

Children’s National is also recognized for its outstanding neurosurgical care. The team doesn’t rely on outdated methods of treating brain diseases that have been around for decades. Instead, our innovative approach to treating them has led to breakthroughs such as non-surgical approaches to diagnosing certain conditions, as well as non-surgical methods of treating them.

One of Children’s National’s most noteworthy advances is using a new technique known as LIFU treatment, to help defeat brain cancer by delivering medications that target only the cancerous cells. It’s an approach that spares the surrounding healthy tissue, and what’s even more impressive is that this treatment doesn’t involve traditional brain surgery. Coupled with Children’s National’s imaging advances, it’s been called the “future of treating brain cancer.”

Epilepsy is another condition the neurosurgical team at Children’s National has successfully been able to treat — and in some cases, cure. So rather than just controlling seizures, Children’s National has actually been able to stop them altogether.

Neurosurgical conditions have long been one of medicine’s most difficult issues to treat, but the Children’s National team has perfected approaches that are less invasive, with outstanding success rates and dramatically shorter recovery times. So kids can get home faster to their families and friends, back to school, back to sports and the things that matter most to them.

If your child requires advanced pediatric specialty care, and you are in the Northern Virginia area, Children’s National is here for you. All to help your kids grow up stronger.

Learn more and make an appointment online.

Biz Talk: The British are coming!

By ARLnow.com Sponsor

This article was written by Sindy Yeh, Senior Business Ambassador for Arlington Economic Development.

Due to its convenient location on the east coast and proximity to the nation’s capital, Arlington is attractive to international companies seeking a U.S. presence. Over the past couple years, a trend has emerged of innovative U.K. companies crossing the pond to establish their U.S. headquarters in Arlington.

In September 2022, Cavendish Nuclear, part of Babcock International Group, opened its first U.S. headquarters at National Landing. The company provides critical nuclear solutions across the markets of clean energy, defense, and civil decommissioning. “There is a huge benefit to the Arlington office location for Cavendish Nuclear USA and other companies due to the proximity to Reagan airport, U.S. Government agencies, and Congress in the greater D.C. area,” says Richard Provencher, Senior VP of Cavendish Nuclear USA. “Many of our teaming partner companies are also located in the greater Arlington area making it a great location to meet with them during the normal course of business or while attending conferences.”

“Location, location, location,” is the reason why David Kumashiro, General Manager of Arqit, a cybersecurity company supplying a unique quantum safe encryption Platform-as-a-Service, chose Arlington as the place to live and to work. “In Arqit’s search for our first U.S. office… I looked for an area whose location was a model and catalyst for 21st Century innovation and leadership,” Kumarshiro said, “the reimagination of Crystal City into what is now National Landing, met that objective. Sparked by the move of Amazon HQ2 and an existing local STEM pipeline, National Landing provides an incredibly rich and diverse pool of technical talent to support our region’s growing innovation ecosystem.”

In April 2022, following its $175M Series C funding, Wagestream, a technology company that provides a financial well-being app founded with charities and designed for frontline workers, established its North American headquarters in Rosslyn with plans to hire dozens of roles to build out its operations in the U.S. Like Cavendish Nuclear and Arqit, accessibility and easy connections were key factors in the company choosing to locate in Arlington.

According to Justin Raimo, President of North America, “Because Wagestream sits at the intersection of work and finance, we partner with a huge range of stakeholders — from employers (our clients), to industry trade groups, to charities and NGOs, to regulators and policy groups. With immediate access to central D.C., major East Coast hubs and a number of those stakeholder groups, this was the perfect location for us to hire great talent and build out a business that does good at massive scale.”

Arlington’s assets prove to make a solid launching pad for international companies to grow in the U.S. As Arqit’s Kumashiro said, “Post-quantum security and innovation in general will only gain in importance in the coming years. As we’ve already seen with AI, quantum, hypersonics, and other software-enabled technologies, the time intervals between ground-breaking innovation will only become shorter. We must set conditions now to be able to continuously out-innovate our adversaries, and I strongly believe that Arlington provides a unique culture and setting to enable this high level of innovation.”

Just Reduced Properties in Arlington

By ARLnow.com Sponsor

Each week, “Just Reduced” spotlights properties in Arlington County whose price have been cut over the previous week. The market summary is crafted by Arlington Realty, Inc. Maximize your real estate investment with the team by visiting www.arlingtonrealtyinc.com or calling 703-836-6000 today!

Please note: While Arlington Realty, Inc. provides this information for the community, it may not be the listing company of these homes.

As of July 10, there are 132 detached homes, 16 townhouses and 140 condos for sale throughout Arlington County. In total, 15 homes experienced a price reduction in the past week, including:

1609 N. Jackson Street

Please note that this is solely a selection of Just Reduced properties available in Arlington County. For a complete list of properties within your target budget and specifications, contact Arlington Realty, Inc.

Go solar this summer! Rooftop solar buying programs now open to homeowners

By ARLnow.com Sponsor

Summer is here and perhaps you’ve noticed the shining sun and all it has to offer!

Solar energy is a renewable energy source and an alternative to fossil fuels. Homeowners with suitable roofs and minimal tree canopy can take advantage of the benefits of lowered energy bills and greener homes by going solar!

Arlington homeowners have multiple options when it comes to rooftop solar, including the Capital Area Solar Switch program, run by Solar United Neighbors, and Solarize NOVA, managed by the Local Energy Alliance Program (LEAP). In addition to these options, homeowners can reach out directly to a solar vendor for quotes and installation.

Capital Area Solar Switch provides a co-op-like program, where participants sign up and receive a solar installation offer that is lower than market value. This is possible through bulk-purchasing, in which the cost per install is lowered due to high demand. The program requires a $150 refundable deposit before working with the installer.

With Solarize, interested homeowners can sign up for a free solar assessment and, if their home appears eligible for rooftop PV, they will be connected to a pre-vetted installer for inspection and an installation contract. The price model is established before the program opens, meaning the vendors have already been verified, selected, and have agreed upon a fair price.

Review these programs and learn about County permitting requirements here.

There are financial incentives available through the Inflation Reduction Act. Learn more about how tax credits can help offset the cost of solar.

Ask Eli: 2023 mid-year single-family home market review (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. Video summaries of some articles can be found on YouTube on the Eli Residential channel. Enjoy!

Question: How was the market for single-family homes in Arlington during the first half of the year?

Answer: All it took was 7% interest rates to stabilize prices… which is exactly what the Fed’s goal was and the Arlington single-family home market is a great example of it working. Coming into the year, there were signs that prices would fall in 2023 if rates remained high, but due to a historic supply squeeze, prices remained stable despite a significant drop in demand (the drop in supply was more significant than the drop in demand).

The data below is based on sales of single-family homes in Arlington during the first six months of the past five years.

Competition Eases, Prices Stabilize

The Arlington single-family market will always be competitive, but the intensity of the last two years has softened and brought some stability to prices:

  • The average home price increased by 2.3% to over $1,360,000 and the median price increased by 1.7% to $1,220,000. If you remove new construction sales from the data, the average sale price actual decreased by .6% to just over $1,241,000.
  • Over the past five years, the average home price in Arlington has increased by nearly 27%
  • On average, homes are selling for just over their original asking price in 2023.
  • 14% of homes sold in the first half of 2023 sold for $2M+ and only 32% sold for $1M or less
  • If you remove 2020 sales numbers (COVID lockdown), there were 26% fewer sales in the first half of 2023 than the 5yr average. That is almost exclusively due to low supply, not low demand.
  • 68% of sales in 2023 were at or above the asking price, less than 2021 and 2022 but just above 2019 and 2020
  • 64% of homes sold within 10 days on the market, last year it was 74%
  • Homes that went under contract within one week on market sold for an average of 3.9% over the asking price, in 2022 the average was 6.8% and in 2019 it was 2%.

Zip Code Prices All Over the Place

There was no consistency in average price change across Arlington zip codes:

  • Note: 22213 only has 8 sales in 2023 so the data isn’t very reliable, I considered not including it
  • 22201 led the way with an 8.9% year-over-year increase
  • After massive growth in 2021 and 2022, the 22205 zip code had the worst performance, down 8.5% from last year. However, this is not a reflection of actual home values dropping in 22205 by that much, but mostly the make-up of the data set.
  • 22204, the zip code I now call home, remains the only zip code for a third year in a row with an average home price below $1M
  • 22207, the best bellwether for Arlington single-family market conditions, continued its steady appreciation clocking in at 4.2% over 2022 to an average of $1,609,000. Without new construction sales, the average price increased by 1.8% to $1,455,000.

Looking Forward

There is no relief in sight for interest rates, with many rates returning to the 7%+ mark as of last week. Expect a noticeably less competitive, more balanced real estate market in the second half of the year. Buyers will have a better chance at finding value and sellers should level expectations.

The big question is when will rates come down (many expect to see 4-5% in the next 12-18 months) and what will that do to prices. If inventory remains low, which it’s likely to do for years to come, I think that we’ll see another surge in demand and prices when rates break through 5.5-6%. If that coincides with Q1/Q2 of 2024, expect that surge to be amplified. Until then, I expect prices to remain relatively flat with competition light to moderate, depending on the season.

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 Eli Residential channel.

Eli Tucker is a licensed Realtor in Virginia, Washington DC, and Maryland with RLAH Real Estate, 4040 N Fairfax Dr #10C A

Job of the Day: Travel Baseball Coach

By ARLnow.com Sponsor

Arlington Travel Baseball (ATB) is a 501(c)3 non-profit youth baseball organization that provides an opportunity for players ages 9-14U to acquire superior skills through higher levels of competition.

ATB is seeking head and assistant coaches who have a passion for the game and want to join a “winning” team. Ideally, we are in search of former college baseball players who want to teach the game they grew up playing.

Coaches will be compensated a competitive wage and required to pass a background check. Coaching experience is a plus but not required and training is available as needed. Coaches will report to the Director of Player Development, who will set team goals and assist with practice plans and specific skills development.

Typical responsibilities include:

  • Manage the day-to-day field activities of the team. Teaching relevant skills, tactics and techniques.
  • Arrive on time and have a practice plan for each practice.
  • Lead the team at all regular season, playoff and tournament games.
  • Coach in a positive manner (Coaches will have coach of conduct form).
  • Communicate with Team General Manager with administrative needs of team.
  • Prepare the players for the physical and mental challenges of competitive baseball.
  • Identify player strengths and weaknesses and provide progress reports at end of summer season.

If you’re interested or know someone who might be please contact us at [email protected] or call 703-679-7756.

Job details

Position: Youth Travel Baseball Coach
Type: Part time
Contact: [email protected]

[su_button url=”mailto:[email protected]” target=”blank” style=”flat” size=”8″ center=”yes”]APPLY FOR JOB[/su_button]

Stormy weather ahead: 5 tips for driving safely in the rain

By ARLnow.com Sponsor

The Beltway and surrounding routes hold hazards for the average commute, but in adverse weather, conditions can become challenging and even dangerous. Remember to turn off features like cruise control, slow down, and ensure your brakes are working properly.

As summer storms continue to roll in, ensure that your car is operating in peak condition before you get on the road. Here are some essential maintenance tips to help you drive safely in the rain or adverse weather conditions.

1. Check your tires: Tire maintenance is crucial for safe driving in any weather condition. Start by checking the tire tread depth. Tires with worn-out treads have reduced traction and can cause slippage on wet surfaces. You may need to replace tires with a tread depth of less than 4/32 inches, learn more. Additionally, ensure your tires are properly inflated as over or under-inflated tires may lead to decreased stability and increased stopping distance.

2. Inspect your windshield wipers: Worn-out or damaged windshield wipers can affect visibility during rain or snowfall. Ensure your wiper blades are in good condition and replace them if necessary. Streaking, skipping, or squeaking noises indicate that your wipers might need replacement. Additionally, make sure your wipers are clearing the windshield effectively, as poor visibility can be extremely dangerous in adverse weather conditions. Wiper replacement can done at home, or be added to any of your services, but is also included in our customer-favorite “Signature Special.”

3. Check your headlights and taillights: Properly functioning headlights and taillights are essential for visibility in adverse weather conditions. Ensure that all your lights are working correctly and are clean, as dirt and grime can reduce their effectiveness. (Get a Deluxe Detail for $299 that includes exterior wash.) Consider replacing your headlights with brighter, more efficient bulbs to improve visibility. Moreover, make sure to use your headlights even during the day when visibility is reduced due to rain or fog.

4. Test your brakes: Sudden stops and emergency braking are more likely in adverse weather conditions, so it’s important to ensure your brakes are in good working order. Get them inspected regularly, and if you notice any signs of squeaking, grinding noises, or reduced responsiveness, it’s time to have them checked by a professional mechanic.

5. Check your battery: The electrical systems in your car are essential for safe driving, especially during adverse weather conditions. Extreme temperatures and extended use of windshield wipers, defrosters, and lights can put a strain on your battery. Have your battery tested regularly to ensure it’s in good condition, and don’t delay a replacement if needed. Battery not working, or you need a jump? CarCare To Go offers a rescue service that can help get your car to our shop, just give us a call at 202-980-1480.

Remember, the key strategy to driving in wet weather or dangerous conditions is not to panic. Keeping your car maintained and ensuring it’s responsive to your direction as the driver can help you maintain confidence in an emergency.

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