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 August 1, there are 156 detached homes, 64 townhouses and 251 condos for sale throughout Arlington County. In total, 49 homes experienced a price reduction in the past week, including:

324 S. Abingdon 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.

Ask Eli: Did interest rates increase .75% last week?

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: Have you already seen interest rates increase since last week’s announcement that the Federal Reserve is increasing rates by .75%?

Answer: Contrary to popular belief, the news you read about the Federal Reserve increasing interest rates does not directly result in changes to the interest rates you get on your mortgage. The Federal Funds Rate is the rate that large banks charge each other for short-term, overnight loans and is one of the many market factors that influence the interest rate you get on a mortgage.

Fed Rate Up, Mortgage Rates Down

Last week, on Wednesday July 27, the Federal Reserve announced they were increasing the Federal Funds Rate by .75%. Many people I spoke with thought this meant that mortgage rates would immediately or quickly increase by a similar amount, however, the reality was that the average 30yr fixed mortgage rate, per Mortgage News Daily, decreased from 5.54% on Wednesday July 27 to 5.22% on Thursday July 28, one day after the announcement.

As of yesterday, MND’s research showed that the average 30yr fixed rate had dropped even more to 5.05%.

Mortgage Rates Are Market-Driven, Like Stocks

Mortgage rates operate like stocks in that they are constantly (daily) moving up and down as they react to changes in the domestic and global markets. In theory, mortgage rates, like stocks, are supposed to reflect the valuation of all current and future market information to determine the cost of borrowing money each day.

What the Fed Rate Means for Your Mortgage Rate

What does that mean in relation to your mortgage rate and the highly publicized Fed Funds Rate?

The Federal Reserve meets eight times per year to set monetary policy, including making any changes to their target Fed Funds Rate.

Prior to those meetings, financial experts are constantly adjusting their expectations of the Federal Reserve’s rate announcements and those expectations are embedded on a daily basis into mortgage borrowing rates, so the most significant rate changes occur when expectations aren’t met or surprising guidance is issued by the Fed during these meetings (keep in mind, this isn’t the only information banks use to determine mortgage rates).

Heading into last week’s announcement, I read that mortgage rates, stocks and other market instruments were priced with a roughly 80% expectation of a .75% increase in the Fed Funds Rates and a roughly 20% expectation of a 1% increase, so when the announcement was made confirming a .75% increase and guidance was given suggesting the Fed will soon be able to slow their rate increases, market instruments reacted in a mostly positive way, which resulted in mortgage rates decreasing because the outcome was weighted towards expectations for lower future rate increases (.75% instead of 1% and slowing future increases).

The next scheduled Federal Reserve announcement on the Federal Funds Rate is scheduled for September 21, you’ll see mortgage rates react daily based on new economic data on inflation, growth, unemployment, global threats, etc that will all influence how the Federal Reserve responds during their next meeting.

Mortgage Rate Forecasts

There’s one thing I’ve learned over the years about mortgage rate forecasts… they’re always wrong. You can see how much of a difference there is in forecasts from the experts in this recent Forbes article, with expectations for 2022 rates ranging from ~5-7% to a technical version of a shoulder shrug.

With that said, if you’re seeing news about inflation coming under control and we avoid new major global supply chain disruptions, odds are that mortgage rates will gradually come down through the end of the year.

However, none of that is guaranteed as we find ourselves in a constant state of global and economic volatility and disruption, factors that generally cause instability and increases in mortgage rates.

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

Last chance to sign-up for the Arlington Solar and Electric Vehicle Charger Co-op

By ARLnow.com Sponsor

Be a part of the climate solution by joining a group of over 250 Arlington area homeowners who have already applied to be a part of the 2022 Arlington Solar and Electric Vehicle (EV) Charger Co-op. The deadline to register to be considered for the Co-op is August 31, 2022!

Make your own energy and help Arlington reach its goal to become carbon neutral. Solar systems can greatly reduce your electric bills, help make our electric grid cleaner and even provide some shading to your rooftop. Driving an EV in Virginia instead of a gasoline engine vehicle can reduce your carbon emissions by more than 50%!

Arlington invites you to be part of a group purchase that can drive down your costs of going solar and owning an EV charger. Some group members are installing home battery systems to provide backup power during grid outages. The Co-op is open to homeowners and businesses in the Arlington area.

Almost 400 area solar systems have been installed through this Co-op over the 8 years of partnership between Arlington County and the non-profit Solar United Neighbors (SUN). The Co-op provides support to make the purchasing process easy.

Take advantage of federal residential solar tax credits and pay less for improving your home and transportation options. This year, get up to 26% in residential tax credits for solar installation. Next year, tax credits will drop to 22%! Business tax credits are also available.

How does it work?

Registering for Co-op consideration is a no-risk action. Once you enter your home address, Solar United Neighbors (SUN) will conduct an audit of your roof with digital aerial photography and will determine whether you are a good candidate. If so, you will be contacted by the installer, who was selected by the Co-op members.

Once you receive an estimate, you will have 30 days to consider signing a contract. There is no obligation prior to signing! And if you do sign, you will be on your way to producing your own power!

Learn more about solar, electric vehicle charging and solar battery storage and help our community become carbon neutral by 2050.

Register for the Co-op and sign up for the last virtual info session on August 23 at noon.

Want to get more involved?

Come to Arlington County’s first ever Think Big About the Future of Transportation event! It will showcase the latest electric vehicle technology and more. Get inspired by viewing a variety of electric cars, scooters, bikes, police cars, buses and learn about alternative fuel technologies. Several electric vehicle types will be available to test drive There will be games and learning opportunities for children, so the event is perfect for the whole family!. Location TBD. More details to come soon.

Neighborhood Spotlight: Let’s talk about Rosslyn

By ARLnow.com Sponsor

Just over the key bridge from Georgetown, Rosslyn is an urban environment with a mix of fortune 500 companies (such as Nestle, Deloitte and Rosetta Stone), great chef-driven restaurants and food halls, events and festivals and a summer/fall farmer’s market.

Formerly known as Ross Lynn, named after a local farm owned by William and Carolyn Ross during Virginia’s colonial period, Rosslyn went through a development boom in the 1960s which revitalized Rosslyn with several high-rise office buildings and hotels.

Although Rosslyn is known for its marquee high-rise buildings, it is home to the Marine Corps War Memorial (Iwo Jima) which is visited by over 1 million annually and the Netherlands Carillon — a set of 50 bells in a 12-story tower gifted by the Netherlands to the US during World War II. Visit the memorial in the spring and you’ll be delighted by thousands of tulips, a must-see!

Many live and work in Rosslyn for its wonderful convenience to Washington and public transportation-friendly access, including 14 Metrobus lines, a D.C. circulator that connects Rosslyn with Georgetown and Dupont Circle, and access to the metro’s blue, orange and silver lines at the Rosslyn Metro station. A little local secret, Rosslyn is also home to a daily bus service to Penn Station/Madison Square Garden in New York City. 

Rosslyn is also known for its amazing cycling and pedestrian trails connecting Northern Virginia to Washington, D.C. The famous Custis Trail travels along Interstate 66 through Rosslyn and can take you all the way through the Mount Vernon Trail to Alexandria and Mount Vernon, and the Potomac Heritage Trail. One of the most beautiful trails in the Washington, D.C. region.

The Custis Trail can also take you across the Francis Scott Key Bridge to the C&O Canal Towpath or the Capital Crescent Trail. It is very common to see the trails bustling before and after work with commuters. No wonder Arlington was named the “Fittest City in America” by American College of Sports Medicine (2021). 

Okay, we can’t finish this article without talking about the fabulous restaurants in Rosslyn!

Let’s start with Fabio Trabocchi’s new Sfoglina in Rosslyn, a menu deeply rooted in tradition. The Assembly located in the newly revitalized Rosslyn City Center is an incredible 29,000-square-foot food hall with multiple private dining rooms, an outdoor terrace and two full-service bars. There is much more with Continental Beer Garden, Compass Coffee, Inca Social, Salt and &pizza.

There is so much more to discover! Connect with neighborhood expert Clay Chamberlin and the Chamberlin Brothers Real Estate to learn more about Rosslyn and other surrounding areas! 

Clay Chamberlin, Chamberlin Brothers Real Estate | 571-243-8831 | [email protected] | website | www.McEnearney.com | @claytond17 on Instagram  

Rosslyn Neighborhood Links & Recommendations

Rosslyn Restaurants 

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.

Pentagon Row summer concert series kicks off this Saturday

By ARLnow.com Sponsor
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Who doesn’t love some live music? From Nighthawk Brewery & Pizza, Bandito’s Tacos and Tequila, and the other restaurants and bars of Pentagon Row comes our summer concert series!

Nighthawk Brewery & Pizza is a new concept from Arlington bar owner Scott Parker, Michelin-star award winning chef Johnny Spero, and the founders of Aslin beer company. Bandito’s brings their third location to Pentagon Row for Mexican bites and brews.

Starting this Saturday, July 30 from 6-9 p.m. join us once a month for live music on the plaza kicking off with Maggie Shot Burns.

Maggie Shot Burns will rock the plaza with all things 90s. Keep in mind that the entire plaza now allows for open carry and consumption of alcoholic beverages. Newly opened Nighthawk Brewery and Bandito’s will be cranking out all the pizza, beer, tacos and margaritas you can handle, and Pentagon Row provides a number of awesome food and beverage options as well as a bevy of life size outdoor games.

This year’s concert series will be as follows:

The concert is absolutely free — come one, come all.

Help us kick off this year’s concert series strong, and join us for some 90s rock on the plaza with Maggie Shot Burns, Saturday, July 30 (tomorrow night) from 6-9 p.m.

The Drain Guys are the plumbers to beat

By ARLnow.com Sponsor

For Virginia, Washington, D.C. and Maryland, The Drain Guys are the plumbers to beat.

The Drain Guys are a locally owned and operated plumbing company in Virginia, Washington, D.C. and Maryland. They believe in honesty, integrity, customer service, superior quality and charging fair prices. As such, The Drain Guys have built a strong reputation and are quickly becoming one of the most popular plumbing companies in the area.

One of The Drain Guys core offerings is free diagnosis. Free diagnosis is just one of the traits owner and CEO Jay Glazer incorporated into the Drain Guys after spending years managing service teams for some of the largest plumbing companies in the DMV. Over the years, he saw the details in the service his customers wanted and expected and then exceeded those expectations by focusing on communication, timely response, quality work and fair pricing.

“We had a great experience with [The Drain Guys],” says John D. in the Drain Guys’ online comments. “My basement started flooding unexpectedly over the weekend. I called The Drain Guys and they came out a few hours later and diagnosed the problem as a clogged mainline. They fixed the problem within an hour and charged me what I feel was a reasonable price. Very professional company.”

The Drain Guys can handle all plumbing problems, large and small, from sewer line repair and plumbing excavation to water heater and sump pump installation, not to mention the usual household needs of unclogging toilets and clearing sink drains.

The Drain Guys plumbing company excels at prioritizing each customers individual needs to successfully deliver a clear and concise plumbing solution. The Drain Guys service Maryland, Virginia and Washington, D.C.

Emergency and same-day service is available. To reach the Drain Guys, call 240-885-9264 or use the online form on this page.

Adoptable Pet of the Week: Posh

By ARLnow.com
1/2

Give a round of applause to the newest Adoptable Pet of the Week, Posh! Posh is a pretty and petite girl who loves playing with her sister Sporty.

Her friends at Animal Welfare League of Arlington, had this to say about Posh:

Posh is all personality and curiosity with petite and pretty features.

While she may start out a little shy, she is very curious and will explore her surroundings and show the way to her sister Sporty. She will follow you and likes to talk, especially while you walk into another room. She loves to chase her feather toys and jump on the chair and look out the window. She and her sister are very playful with one another and chase each other room to room. Posh enjoys ‘surprise attacking’ her sister throughout the day.

As much as they love to play with another and you, they are also loving and sweet and will sleep/snuggle together in their bed(s) or other household furniture.

Are you looking for a Posh and Sporty to complete your girl group? To set up a virtual meet and greet, check out her complete profile.

These two girls are ready for their next adventure!

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!

Listing of the Day: 1603 N. Greenbrier Street

By ARLnow.com Sponsor
1/5

Address: 1603 N. Greenbrier Street
Neighborhood: Tara
Listed: $1,100,000

Character and space abound in this expanded 1930s brick and stone colonial on an 8,000 square level lot in the Cardinal, Swanson and Yorktown school pyramid.

Follow the stone path to this inviting home with the living room anchored by a wood burning stone fireplace, flanked by windows. The living room flows into the dining room and then to the large kitchen, family room and breakfast area. Abundant cabinets, a pantry and generous granite countertops highlight the kitchen. The adjoining breakfast room opens to a stone, covered patio and the private rear yard. A door from the family rooms leads to the deep driveway and a powder room completes the main level.

Upstairs, the primary bedroom has space for a desk or sitting area, walk-in closet and a private bath with soaking tub and double bowl vanity. The large second and third bedrooms share a renovated hall bathroom and there are fixed stairs to a large attic for storage or expansion.

The lower level has a big den for playroom, office or gym, along with the laundry area, a roughed in bathroom and several storage closets. Two zone heating and air conditioning, too.

Walk to Westover Village, Lee-Harrison Center, Big Walnut and Lacey Woods Park, bike path and easy commute to business and government centers.

Listed by:
Betsy Twigg
McEnearney Associates
703-967-4391
[email protected]
www.betsytwigg.com

Arts Focus: Arlington theatres collaborate at Lubber Run Amphitheater

By ARLnow.com Sponsor
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This column is sponsored by Arlington Arts/Arlington Cultural Affairs, a division of Arlington Economic Development.

A trio of Arlington’s theatrical ensembles join forces for a special event: join Avant Bard Theatre, The Arlington Players and Encore Stage & Studio for Joseph and the Amazing Technicolor Dreamcoat (lyrics by Tim Rice and Music by Andrew Lloyd Webber), a special collaborative production as part of the Free Summer Concert Series at Lubber Run Amphitheater, at 8 p.m. on Friday and Saturday, August 5 and 6, and on Sunday, August 7 at 6 p.m. Admission is Free.

This fantastically fun and energetic musical will transport you to ancient times where dreamers and destiny collide. Featuring talented local performers, including a children’s chorus, it’s a theatrical experience for the entire family not to be missed!

Joseph and the Amazing Technicolor Dreamcoat is presented by arrangement with Concord Theatricals on behalf of The Really Useful Group. The production is part of the Lubber Run Amphitheater Free Summer Concert Series, presented by Arlington Arts in partnership with the Lubber Run Amphitheater Foundation.

“The cultivation and celebration of community lays at the heart of Avant Bard’s mission. It is a joy for us to engage this collaboration with this production of Joseph and the Amazing Technicolor Dream Coat,” says Avant Bard Theater’s producing partner DeMone Seraphin, who is directing the production. “How exciting it is to watch artists at various levels of experience come together to create something that promises to be fun and to bring joy to the Arlington community.”

“Encore is so excited to be a part of this collaboration!”, says Encore Stage & Studio’s Sarah Duke, who is a co-producer of the show. “We especially value the opportunity for our students to work alongside adult performers in this fun summer show!”

The seeds of this collaboration were sown last fall in the Spotlight Series: a showcase of Arlington-based theater and dance ensembles presented by Arlington Arts. As most of the participants usually performed at indoor ticketed events to their established audiences, the Spotlight Series allowed them to reach an entirely new audience with their artistry. This production takes things to the next level, fostering collaboration between three of Arlington’s longest tenured theatrical arts organizations.

“The Arlington Players is delighted to have the opportunity to collaborate with the local theater community in bringing this fun-filled production to the residents of Arlington County!”, notes Jasmine Jones, the Executive Producer for The Arlington Players.

For more details on this special performance of Joseph and the Amazing Technicolor Dream Coat on Friday, Saturday and Sunday, August 5-7, as well as the rest of the Free Summer Concert Series at Lubber Run Amphitheater, visit the Arlington Arts website!

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 25, there are 161 detached homes, 67 townhouses and 266 condos for sale throughout Arlington County. In total, 43 homes experienced a price reduction in the past week, including:

104 S.Columbus 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.

Listing of the Day: 5719 11th Street N.

By ARLnow.com Sponsor
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Address: 5719 11th Street N.
Neighborhood: Westover
Listed: $999,995

Walk to Westover shops, restaurants, beer garden, library, farmers market and parks and trails from this nearly new, four-level, end unit townhouse with a two-car garage.  The home is loaded with upgrades and features hardwood floors on three of the four levels.

Enter on the first level to the light-filled den and access to the two-car garage. The second level features the living room, dining room and upgraded kitchen with crisp white cabinetry, extra storage and a large island.

The third level offers the primary suite with a tray ceiling, a large walk-in closet and a bath with a dual vanity and large shower with frameless doors. This level also features a second bedroom with a tray ceiling, walk-in closet and an ensuite bath with a tub/shower and a linen closet. The laundry is also on this level, as is another linen closet.

The fourth level is the third bedroom with an ensuite bath with a large shower. This level can also be used for an office or quiet get-away with double doors leading to the rooftop deck.

The HOA covers the lawn mowing and snow removal, leaving more time for enjoying the nearby neighborhood amenities. The house is located equidistant to both the Ballston Metro and East Falls Church Metro stops.

Listed by:
Bonnie Harrison
Century 21 Redwood
(703) 409-0488
www.bonnieharrison.com
[email protected]

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