Sponsored

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 September 26, there are 161 detached homes, 61 townhouses and 235 condos for sale throughout Arlington County. In total, 43 homes experienced a price reduction in the past week, including:

918 26th Place S.

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.

Building your dream home: New Construction Seminar

By ARLnow.com Sponsor

Building a new home should be a rewarding and memorable experience. That’s why a custom-built home requires personalized service!

Here’s your chance to learn everything you need to know about new construction properties from successful agents on the top-selling real estate team in the D.C. metro area.

Bridget Mendes, one of Keri Shull Team’s most experienced Buyer Success Agents, is leading this seminar at our Rosslyn office.

You’ll learn:

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

Join us on Tuesday, October 4 at 6 p.m. for this FREE in-person seminar. Make your new construction dream home a reality with experts by your side!

Register for this event today!

Ask Eli: Improved study on off-market sales

By ARLnow.com Sponsor

This regularly scheduled sponsored Q&A column is written by Eli Tucker, Arlington-based Realtor and Arlington resident. Please submit your questions to him via email for response in future columns. Video summaries of some articles can be found on YouTube on the Ask Eli, Live With Jean playlist. Enjoy!

Question: Should I consider selling my home off-market?

Answer: The correct question is not whether you can buy/sell a home yourself (yes, you definitely can), rather what are the chances that you net a better result doing so. Last year, Bright MLS released a significant study comparing the results of on and off market sales and found homes sold “on-market” through the Bright MLS platform (link to article explaining what Bright MLS is) sold for 16.98% more than those sold off-market. It was an excellent first attempt at objectively comparing sales data between the two approaches, but there were some flaws in the methodology that received pushback.

2022 Study is Much Improved

In August, Bright MLS released a new, much improved study on the same topic with significantly more data and better methodology. They expanded the data set from 443,000 sales from 2019-2020 to 840,000 sales from 2019-Q1 2022, which means we added data from the peak real estate market of 2021-early 2022. They improved the methodology in several ways such as controlling for flips, new construction, sales between family members, and distressed sales and also significantly improved how they compared prices by analyzing property and neighborhood characteristics, not just by median prices.

On-Market Sales Sold for 13% More, Even more in D.C. Area

The study found that from 2019-Q1 2022, homes sold through the Bright MLS platform in the Mid-Atlantic sold for 13% more than those sold off-market and the returns were even greater when the market peaked in 2021 (14.8%) and Q1 2022 (19.7%). The D.C. area market saw even higher returns for on-market sales than the Mid-Atlantic (see chart below).

I think that one of the most important takeaways from this study is how significant the increase in returns were for on-market vs off-market sales when the market was at its peak from 2021-Q1 2022. There’s a clear trend that as the market became more favorable for sellers, and it became easier to sell a home than ever before, the difference in returns between on-market sales and do-it-yourself sales became significantly greater.

Office-Exclusives Also Struggle vs On-Market

The study also looked at office-exclusive sales whereby a property is marketed by the listing brokerage, exclusively to agents within the brokerage. As one might expect, the limited access to buyers through this approach also results in weaker performance.

In some cases, a seller may prefer the privacy of an office-exclusive to the returns of an on-market sale, but that trade-off must be fully understood.

(more…)

“I would give this place 12 out of five stars if I could”

By ARLnow.com Sponsor
1/4

Stop wasting hours of time getting your car maintained or repaired. Discover the time-saving joy that is CarCare To Go and see why so many people are leaving reviews like the one below.

CarCare To Go brings modern convenience and trust to car repair. They combine the coverage of a full-service shop with a uniquely transparent process, plus free valet pick-up and delivery from your home or work.

I would give this place 12 out of five stars if I could! They picked up my car this morning, changed the oil, did a safety inspection, and then sent me a complete report noting a few things that needed immediate attention, my tires namely. They were totally transparent about the price and how long it would take. Stephen was so friendly on the phone and kept me informed, the constant communication was great. They even washed my car and it was returned in the afternoon by Stephen, and he pointed out some things to me that I really appreciated and talked to me about the longevity of my vehicle. I love the service and the staff — top notch service in every way. I will only use this establishment for my car needs and I am so sorry I did not know about them sooner. It was a great experience from start to finish… — Jennifer L

CarCare To Go is offering first-time clients an oil change for just $20.22. No catch. Synthetic or blend for any make or model car. Just enter coupon code FIRST20 when you book. The valet and a light hand-clean are completely free.

Of course, CarCare To Go does much more than oil changes and new tires. They are a full-service shop that does everything from brake pad replacements to the most complicated engine replacements.

You’ll wonder why you ever took care of your car any other way.

Just Listed in Arlington

By ARLnow.com Sponsor

Just Listed highlights Arlington properties that just came on the market within the past week. This feature is written and sponsored by Andors Real Estate Group.

Good morning, Arlingtonians, and welcome to JUST LISTED!

Well, the negative economic news continues to weigh heavily on interest rates, and Wednesday’s Fed rate hike marks three in a row at 75 basis points, or ¾%. The reality is that we are approaching, and in some regards have already hit, an affordability ceiling. The 30 year fixed rate mortgage averages 6.29% over the past week according to Freddie Mac, the highest it’s been since October of 2008.

Many like to point out that these rates are reasonable, at least historically. While that’s true, what that sentiment does not take into account is that home prices were hundreds of thousands of dollars lower, and it also does not factor in that incomes haven’t kept up with house prices. So, we do in fact have an affordability problem now that interest makes up such a large share of a monthly mortgage payment.

This is impacting the local real estate market. Sellers feel it, agents feel it, and buyers are, well, missing. Sure, there is some activity, but it is massively impacted by the things I mention above, and transactional volume is down while inventory is rising. The supply and demand equation that drives real estate is shifting, and it is taking longer to sell a home, even in a highly desirable area such as Arlington.

Right now, there are 30 properties in “Coming Soon” status. This does not account for all of the new and upcoming inventory we’ll see hit the market in coming weeks, but it does show that sellers still plan to sell homes this fall, potentially adding to the rising inventory we’ve seen for the past five weeks.

This week in Arlington, sellers listed 61 homes for sale (21 less than last week), while buyers ratified 14 contracts (15 less than last week), just 10 of which were on homes just listed in the last seven days.

Of the 414 homes currently available for sale (20 more than last week), 140 are detached homes, 59 are semi-detached/town houses, and 215 are condos.

Of those currently available properties, the average asking price is $916,448 and the median is $699,950. These properties have been sitting on the market for 52 days on average, while the median is 30.

This week last year, there were 555 properties available for sale, sellers listed 77 homes and buyers ratified 77 contracts. Mortgage rates were 2.88%!

PICK OF THE WEEK — The Andors Real Estate Group is proud to have JUST LISTED 1912 N. Daniel Street, Arlington, VA 22201 — $950,000.

You won’t want to miss this gorgeous brick townhome featuring three bedrooms, two full bathrooms and one half bathroom, loaded with recent updates and renovations. Nearly 2,000sf of finished living space, a gorgeous white kitchen with Calcatta Gold Quartz countertops and brand new stainless steel appliances, hardwood floors throughout, an envious owners suite and an attached one car garage! Note, our team has an ownership interest in this property.

Find my team there this weekend for public open houses, Saturday and Sunday 1-3 p.m.

Click here to search currently available Arlington real estate. If you see a home that you’re interested in purchasing, give us a call! Our team are experts at WINNING when it comes to Arlington real estate — our agents routinely outmaneuver others when it comes to multiple offer scenarios — call us to find out how!

Call the Andors Real Estate Group today at (703) 203-1117 to talk more about buying or selling Arlington real estate. Below are eight properties I think you might light to check out!

Arlington Pet of the Week: Tuco and Fig

By ARLnow.com
1/4

Welcome the newest Arlington Pet of the Week duo, Tuco and Fig! These fluffy twins came from Pennsylvania, but now call Arlington home.

Tuco and Fig have a few things to say about their paw-fect life in Arlington.

Greetings from Tuco and Fig!

We came from humble beginnings from a farm in Pennsylvania. Thanks to our mom’s Tesla driving friend, we were whisked away to the city of Arlington, and are living a paw-fectly splendid life!

Life in the city was an easy transition for us twins because we have each other, and also the paw-somest parents. Our daily schedule consists of sunbathing on our balcony, wrestling with each other, and reposing wherever we want.

Also, people love coming up to us to pet us and take pictures of us. Once we got a free tote bag just for sitting on it. Why are humans ever stressed out??

Sometimes, we hang out with our best friends Tater Tot and Mister Waffles (who was a previous Pet of the Week). Dad hopes we get bigger than Tater Tot, because he says he is his “rival.” We don’t understand what that means, but we love our playdates together!

And mom made us an Instagram account @tucoandfig because she has no hobbies. Hopefully she takes a break from all the pictures of us, so we can take a nap before dinner.

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 gallery!

5th Annual Shucktoberfest in Shirlington Village set for October 22!

By ARLnow.com Sponsor
1/5

Copperwood Tavern is hosting its 5th Annual Shucktoberfest — Beer & Oyster Festival!

Taking place on Saturday, October 22 from 11 a.m.-5 p.m., the family and dog-friendly festival will feature nearly 60 local breweries, fresh shucked oysters, local vendors, and activities!

We encourage families and friends from all over the Washington Metropolitan area to come out and celebrate fall in the Village of Shirlington!

Tickets are now available and pre-sale purchase is recommended.

Visit our website or social media for more information:@shucktoberfest

Biz Talk: Call for applications for the inaugural Arlington REV Awards!

By ARLnow.com Sponsor

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

For the past seven years, Arlington Economic Development (AED) has recognized the fastest-growing companies in Arlington with the Fast Four Awards. The Fast Four Awards honor Arlington companies that have achieved significant revenue growth over a three-year period.

For 2022, AED is expanding its awards by adding two more award categories to recognize companies with the fastest employee growth and the largest venture capital raises. These three award categories allow AED to recognize and salute Arlington companies for their accomplishments and contributions to the County’s business economy.

Award Categories

  • Fastest Revenue Growth: Recognizing four Arlington companies with the highest rate of revenue growth over a three-year period.
  • Fastest Employee Growth: Recognizing two Arlington companies with the highest rate of employee growth from the previous year.
  • Largest Venture Capital Raise: Recognizing two Arlington companies with the highest amount of venture funding raised in the previous year.

Applications are open now through October 11. The winning companies will be announced during an awards reception in National Landing on November 1.

Interested? Learn more about the application process and submit your company for consideration.

Be a part of Arlington’s very first REV Awards Celebration!

Legal Insider: Early retirement for federal 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 Kimberly H. Berry, Esq.

Early retirement is a consideration for many federal employees.

Federal agencies that are undergoing major organizational changes such as reorganization, reduction in force (RIF), reshaping, or downsizing can be given the option to offer federal employees voluntary early retirement based on the Voluntary Early Retirement Authority (VERA). The Office of Personnel Management (OPM) provides guidance on VERA here. VERA is the legal authority given to specific federal agencies so that they may offer early retirement options to employees.

VERA authority can provide a federal employee an opportunity to retire early with better financial options. In addition to VERA, federal agencies may also be given Voluntary Separation Incentive Payments (VSIP), which can range up to $25,000. OPM has published guidance on VSIP payments here.

VERA and VSIP were designed to assist agencies that need to implement organizational changes while also making it possible for federal employees to receive an immediate annuity payment years before they would normally be eligible. The voluntary early retirement provisions are the same under the Civil Service Retirement System (CSRS) and the Federal Employees Retirement System (FERS).

Federal Employee Requirements for Early Retirement for FERS and CSRS

In order to generally be eligible to retire under VERA, a federal employee must usually meet the following types of requirements:

  • The VERA minimum age and service requirements set by statutes in the U.S. Code for CSRS and FERS employees (i.e., the employee has completed at least 20 years of creditable service and is at least 50 years of age or has completed at least 25 years of creditable service regardless of age)
  • Continuous employment by a federal agency for at least 31 days prior to the date that the agency initially requested the Office of Personnel Management (OPM) approval of VERA
  • The federal employee may not have received a final removal decision based upon misconduct or unacceptable performance
  • The federal employee must hold a position covered by the agency’s VERA authority or program
  • The federal employee must exercise their option under the VERA option during the agency’s VERA acceptance period

Other requirements can apply, but these are the major ones. It is very important for federal employees considering a VERA/VSIP offer to seek the advice of an attorney regarding their retirement issues prior to initiating the VERA process.

Our law firm represents federal employees that are considering early retirement and other federal retirement matters. Sometimes VERA or VSIP considerations can come up during settlement discussions involving a proposed removal or removal action. Our website has additional information on retirement options.

Contact Us

If you are in need of federal employee retirement law representation or guidance regarding VERA (early retirement) or VSIP (early retirement incentives), please contact our office at 703-668-0070 or through our contact page to schedule a consultation.

Ask Eli: Are you informed about real estate?

By ARLnow.com Sponsor

This regularly scheduled sponsored Q&A column is written by Eli Tucker, Arlington-based Realtor and Arlington resident. Please submit your questions to him via email for response in future columns. Video summaries of some articles can be found on YouTube on the Ask Eli, Live With Jean playlist. Enjoy!

I would love to hear more from you in comments or by email ([email protected]) about your opinions on the availability of good real estate content — national or local market information, investing, best practices/how-to, etc.

Whether it’s content you’d like to see here in my column or content you wish you could access from other sources, I’d love to hear!

No matter how informed you are on the real estate market, how happy are you with the information/news you do receive?

If you’d like to discuss buying, selling, investing, or renting, don’t hesitate to reach out to me at [email protected].

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

Video summaries of some articles can be found on YouTube on the Ask Eli, Live With Jean playlist.

Eli Tucker is a licensed Realtor in Virginia, Washington DC, and Maryland with RLAH Real Estate, 4040 N Fairfax Dr #10C Arlington VA 22203. (703) 390-9460

Neighborhood Spotlight: Let’s talk about Westover Village

By ARLnow.com Sponsor

Westover Village is the commercial center for several neighborhoods we will tour today. Located along Washington Boulevard, between Patrick Henry Dr. and McKinley Street, the residential part of Westover is a pleasant combination of homes. 

Many of the original 1940s two  bedroom colonials have been expanded and renovated while a few have been replaced with new homes. Duplexes are located near Swanson Middle School, and garden apartments are sprinkled throughout the area. Some are market rate and some are used for APAH, Fisher House, Erdo and VHDA affordable housing. 

In the last few years, some of the buildings have been replaced with townhouses. Among the neighborhood amenities are Arlington County Library, W&OD biking and walking trail, and Westover Park and Playground. 

Just East of Westover lies Lacey Forest, bordered by the large Lacey Woods Park with acres of trees and the W&OD trail. The neighborhood originally had many summer cottages Washintonians used to escape the heat and enjoy the nearby Luna Park amusement venue. 

A number of those cottages were razed for new houses, and they join the many Colonial, Cape Cods, ramblers, and split levels that were built between the 1940s and 1960s. The first FHA insured house was located in Lacey Forest, and Eleanor Roosevelt personally visited the new homeowners. 

Moving north from Washington Boulevard are Wynnewood, Larchmont, and Tara. These areas were developed between the 1930s and 1960s, and many of the homes were custom built. They lend themselves to the expansions and renovations found throughout the area. Known for the tree canopy and rolling hills, the shady streets are ideal for walking and biking. Big Walnut park is at the northern edge of Tara and provides the best sledding hill in the area.

Years ago, a very wise woman persevered in the face of strong opposition to have medians built to slow traffic along Patrick Henry Drive. Today those medians are filled with tall trees, mature shrubbery and form a leafy entry to the Leeway Heights neighborhood. 

Many of the homes are “Broyhill” colonials, and the original tracks houses have been transformed with creative additions and renovations. Newer splits and bi-levels were built in the 1960s and several streets of summer cottages remain, although often expanded. The tucked away Parkhurst Park is nearby as is Cardinal Elementary School and the Sunday Farmer’s Market.

A desirable mix of housing, amenities, schools, and parks make Westover Village and its surrounding neighborhoods a very popular part of Arlington’s 22205 zip code.

Please reach out to me if you want to learn more about neighborhoods in Arlington and around the region.

Betsy Twigg | 703-967-4391 | [email protected] | www.betsytwigg.com | www.McEnearney.com

McEnearney Associates — Arlington Office

Links & Recommendations

For 40 years, McEnearney Associates has been a premiere residential, commercial and property management firm with 11 offices located in the Washington metro region. With service excellence, hyper-local expertise, powerful data insights, innovative technology and cutting-edge marketing, McEnearney Associates have helped their clients make informed decisions on their most valuable real estate investments. There is an important difference at McEnearney: It’s not about us, it’s about you. To learn more, visit us at www.McEnearney.com.

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