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Ask Eli: Market values 14% higher than county assessments

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: How close are the County’s tax assessments to actual market values?

Answer: Last week, Arlington announced that the next round of annual tax reassessments would increase the total residential assessment by 5.8% (this is overall, changes to individual home/land values will vary significantly). This change is meant to align with the increase in market values of Arlington homes, but assessed values remain well below actual market values for most homes. In fact, 88.6% of homes sold in 2021 sold for above their most recent tax assessment value.

Homes in Arlington that sold in 2021 sold for an average of 14% (median 12.3%) above their most recent tax assessment. Last year, that difference came to an average of 18.2% and in 2019 it was 14.2%.

Homeowners in the 22205 zip code benefit the most by underassessment’s with an average difference between 2021 sold prices and their assessments of 20.9%, or nearly $181,000. Owners of single-family homes and townhouses (17.6% average difference) benefit more from underassessment’s than condo owners (9.5% average difference).

If County assessments were representative of actual market values, the average Arlington homeowner would pay over $1,000 more per year in property taxes. So don’t forget to send the Department of Real Estate Assessments a thank you card!

If you believe that the County’s assessment of your home’s value is too high, you have the right to appeal the assessed value, but that must be done by March 1.

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 Ballston

By ARLnow.com Sponsor

What makes Ballston a Special Neighborhood in Arlington?

The convenience of walkable urban living with access to Metro Rail and Bus service has drawn Arlingtonians to Ballston for decades.

Reinvented to meet the changing needs and desires of each generation, the Ballston neighborhood has a vibrant mix of residential, restaurants, retail, recreation, office and higher education. You can live, learn, work and play all within walking distance!

Some of the most exciting recent additions to the neighborhood include the expanding dining options at the indoor/outdoor food hall at Ballston Quarter, and D.C. favorite The Salt Line has also opened a new restaurant. Of course it’s not all about the food! With an active residential population, area gyms offer the perfect workouts to keep you fit. Bash Boxing recently opened with a 45-minute high-intensity workout. Or perhaps learning to ice skate is on your bucket list. MedStar Capitals Iceplex has classes for all ages.

Housing stock in Ballston keeps growing with new apartment and condominium buildings, many of which feature retail space at street level. As you travel a bit further from the core, townhomes and detached homes border the neighborhood offering more space with the same access to great amenities. 

Connect with neighborhood expert Clayton Chamberlin to learn more about Ballston and other surrounding areas!  

Clayton Chamberlin | 703-738-4449 | [email protected] | www.chamberlinbrothers.com | www.McEnearney.com

Ballston (and Nearby) Neighborhood 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.

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.

Interest Rates — These very important details of the real estate market just SKYROCKETED to 3.45% for a 30-year fixed rate mortgage! This is a tremendous jump, from 3.22% last week, from 2.78% just six months ago and the highest since March 26, 2020, according to Freddie Mac.

Why are rates rising? Well, the Fed has signaled multiple rate hikes in 2022 as they start to tighten their monetary policy to fight rampant inflation, but this does not lead directly to the mortgage rates I quoted you above. The reason these rates have risen is due to the expectation of Fed interest rate hikes. The interest rates borrowers pay are more closely related to the 10-year treasury yield, and that takes its ques from broader market sentiment and expectations. In any case, rates rose almost a quarter of a point in just the last week, a very steep rise that is likely to impact home purchases, especially if inventory remains tight.

Last week we had 261 properties for sale in Arlington, and this week we have just one more, for a total of 262.

We saw a big jump in activity from two weeks ago — no surprise as we’re now solidly past the holidays. Sellers listed 56homes in the past week, double the 28 from last week, and buyers ratified 56 contracts, 16 of which were on homes listed seven days or less.

Of the 262 homes currently available for sale, 61 are detached homes, 29 are semi-detached/townhomes, and the remaining 172 are condominiums. These properties range in price from $100,000 all the way up to $4,250,000.

Average list price for currently available homes is $847,787, and the median price is $562,450. These homes have been on the market for an average of 82 DOM (days on market) and a median of 49. From last week, average days on market dropped by 7, and median by 13, both lowered by a large influx of new homes starting to hit the market.

Click here to search currently available Arlington real estate. If you see a home that you’re interested in purchasing, give us a call!

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

5332 2nd Street N.

Boring Title: Welcome to Allied Title’s Arlington office

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.

A home purchase comes with a lot of emotion, especially since it’s something you only do every 7-10 years. The heartbreak and stress of multiple offers, negotiating home inspection repairs, and planning a move can take quite a toll. Not to mention that terrifying feeling of wiring almost a whole year’s salary!

At Allied Title, we get it. That’s why we created a dedicated Client Experience Team whose sole purpose is to make sure that our buyers, sellers and agents have a great closing experience.

While you may not have control over the timeline and the many moving parts of the homebuying process, you should at least know what to expect when you’re expecting to sign at settlement. Our Client Experience Team has created an Office Experience video for each of our five offices in the DMV area. This week we are featuring our Arlington office located in the heart of Clarendon.

Welcome to Allied Title’s Arlington Office!

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! 

Local E60 Fitness plans to expand with new ownership

By ARLnow.com Sponsor
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E60 Fitness, a popular group fitness program founded by Northern Virginia native, Doug Frantzen, has plans to expand across the DMV and beyond under new ownership.  Stoneybrooke Capital, a local family-owned investment group has acquired E60 Fitness.

E60 Fitness currently has two locations in Northern Virginia — one in the Rosslyn neighborhood of Arlington that has been in operation since 2017, and another in West Alexandria that opened in 2020. In a short time, E60 Fitness racked up accolades including taking the #1 spot on ClassPass’s “Top Fitness Classes” in Arlington and Alexandria.

The Masiello family, owners of Stoneybrooke Capital, saw the immense potential in the brand and have acquired the company with plans to expand the business to assist people to improve and sustain their health and fitness. The Masiellos plan to keep the existing E60 Fitness facilities operating as they do now, continuing E60’s top-rated all-in-one workout program, Elevate 60.

Doug Frantzen will remain involved in the future growth of the brand. When Curt II, of Stoneybrooke Capital, identified this opportunity, he immediately realized the value of the E60 approach, “The pandemic has underscored the importance of routine exercise and a healthy lifestyle to help mitigate the effects of COVID-19, as well as other potential health concerns.”

You can check out E60Fitness.com where you can redeem a free 7-day trial and follow @e60fitness on Instagram.

Biz Talk: Venture activity thrives for Arlington startups

By ARLnow.com Sponsor

This article was written by Adam Henry, CEcD, Business Development Manager for Arlington Economic Development.

Venture activity continues to play a critical role to Arlington’s thriving innovation ecosystem, providing capital and strategic investment opportunities for startups and high growth ventures to fuel their expansions.

The 2021 calendar year brought continued uncertainty with the COVID-19 pandemic’s delta and omicron variants, growing inflation, and sustained global supply chain issues that impacted many sectors including hospitality, restaurants and construction. On a positive note, Arlington-based businesses continued to thrive with venture capital raises, mergers and acquisitions, and initial public offerings (IPOs) which equate to more commercial leases and employment for the community.

According to data collected from Pitchbook.com and independent media sources, Arlington-headquartered companies were involved in more than 30 deals totaling more than $2.5 billion from venture capital raises, mergers and acquisitions, strategic corporate investments and other activity.

Specifically, venture capital provides investment for startups and high growth ventures that show long-term growth potential which in turn creates a larger industry cluster and generates more employment opportunities in the growing technology sector in Arlington and throughout the region.

In 2021, Arlington companies were involved in 21 venture capital deals totaling over $367.8 million. The most notable raise of the year was Interos’ July 2021 $100 million Series C raise, enabling the company to join an elite group of only 4% of ‘unicorn’ startups not only nationally valued at more than $1 billion but also led by a female founder-CEO. Some other notable raises among Arlington-based companies last year include:

In addition to the dynamic venture capital activity, Arlington companies were also involved in some notable mergers and acquisitions and IPOs.

Despite another turbulent year for business, Arlington-based companies continue to shine in venture activity, which contributes towards establishing the community as a major innovation and entrepreneurial hub nationally. As we continue to see more companies launching, AED is very excited about the prospects of 2022 for startups to raise capital, scale and grow into established companies.

Adoptable Pet of the Week: Queenie

By ARLnow.com
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I pronounce the newest Adoptable Pet of the Week, Queenie. This 4-year-old royal lady is a Labrador Retriever/Shepherd mix looking for a patient and confident forever friend.

Here’s what her friends at Lost Dog & Cat Rescue Foundation had to say:

Queenie is a beautiful and friendly lil lady ready to make your acquaintance. She’s a friendly, active and energetic girl who loves people, treats and toys. She walks well on the leash and is a nice car companion. She loves cuddling and being around her humans, following them around everywhere, so would enjoy a family that will be around a lot! She warms right up and works her way into your lap. She is incredibly loving – she loves pets and will show you affection back! She also loves all toys!

Queenie is smart, and did we mention, motivated by yummy treats? She looks forward to continuing her training journey with a patient and confident owner. Right now, she knows how to “sit” and “lie down” and even “wait” on command. The sky’s the limit with Queenie!

She’s selective about her dog friends and needs slow introductions — best to skip the dog park with this independent girl and spend your time bonding and exercising elsewhere!

Want to visit Queenie in person? See what upcoming events Queenie will be at and be sure to check out her complete profile!

Just Reduced Properties in Arlington

By ARLnow.com Sponsor

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

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

The holiday slowdown is officially in the rearview mirror.

Monitoring this week’s real estate figures, we’ve seen an upward tick in new listings by approximately 10 percent compared to last week. We’ve also tracked a nearly 400 percent increase in the number of Just Reduced properties week-over-week.

So, what does this mean?

In a nutshell, for those whose properties sat on the market through the holidays, they are now stepping up their game that much more. So, we’re experiencing a bit more aggression and flexibility on their part price-wise.

For the home-seeker out there, if there is a property that’s caught your fancy and/or perhaps it’s sat out there longer than expected, let’s make it happen. Now is the time to step up to the plate with your best offer and a time-tested, negotiation-ready team by your side. And, for that, the team at Arlington Realty, Inc. is ready to advocate on your behalf.

Until then, here are this week’s Just Reduced numbers.

As of January 10, there are 77 detached homes, 31 townhouses and 187 condos for sale throughout Arlington County. In total, 23 homes experienced a price reduction in the past week, including:

1102 S. Highland Street #3

Please note 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: 2021 real estate market review — single-family

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: How did Arlington’s single-family home market perform in 2021?

Answer: Last week we reviewed the performance of the condo market so this week we will take a look at the market that has been a topic of conversation across the country for well over a year — the single-family (detached) housing market.

Appreciation Was Strong, Not Exceptional

The 2021 Arlington single-family market was fiercely competitive and experienced its highest appreciation in years. However, the shift in market conditions (demand and price appreciation) was not nearly as dramatic as other regional or national markets that have made headline news over the last 12+ months.

Why? Because thanks to strong market fundamentals and Amazon’s 2018 HQ2 announcement, the Arlington market was already exceptionally competitive and expensive, relative to most other regional and national markets, prior to the COVID-driven housing market mayhem.

Here are some highlights from the chart and table below (22206 and 22209 are not included due to lack of single-family homes sold):

  • The average and median price of a single-family home in Arlington increased in 2021 by 6.2% and 7.2%, respectively. Excellent appreciation for any homeowner, but not the double-digit appreciation other regional and national markets experienced last year.
  • Nearly 50% of homes sold for more than the asking price and didn’t last more than one week on market.
  • More single-family homes were listed and sold in 2021 than any of the last five years. Had supply been closer to the ~1,000 homes sold in the previous three years, I suspect average and median prices may have climbed closer to double-digit year-over-year increases.
  • The median price of a house in Arlington exceeded $1M for the first time in 2021. The average price climbed above $1.2M in 2021 and has been above $1M since 2018.
  • The average buyer paid 1.1% over the asking price, which equates to about $13,000 over ask.
  • Of the homes that went under contract in one week or less (just under half), the average buyer paid 3.7% over the asking price.
  • In 2017, the majority of homes (39%) sold for less than $800k, in 2021 just 15% of homes sold for less than $800k (this includes teardowns) and 19% sold for at least $1.6M.
  • In each of the last three years, over 40% of homes have sold for $800k-$1.2M.

(more…)

Legal Insider: OPM issues new rules affecting 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 John V. Berry, Esq.

Pursuant to the Biden Administration’s changes to personnel law for federal employees, the Office of Personnel Management (OPM) has just issued new proposed regulations to rescind many of the prior Administration’s federal employee rule changes. The changes by OPM were those put into motion earlier this year when the President revoked Executive Order 13839 by signing Executive Order 14003. The President, in Executive Order 14003 directed OPM to suspend, revise, or rescind actions implementing Executive Order 13839.

OPM’s new rules will affect federal employees in a few ways and will likely be fully implemented as soon as the short comment period is over. The changes will eliminate the clean record settlement ban, alter performance-based actions, revise probationary period notices, and change a few other personnel issues for federal employees. By far, the most important change is the ability for federal agencies to enter into clear record settlements with federal employees in cases.

Major Changes for Federal Employees

OPM’s proposed rules will rescind several parts of the former Administration changes to civil service rules, including the following:

  • Clean Record Settlements: This is the change that everyone has been waiting for. The prior Administration banned federal agencies from resolving federal employment litigation involving clean record settlements, where a person would be able to obtain a fresh start as part of settlement. Both federal employees and agencies disliked the ban because it interfered with their ability to resolve cases. The proposed changes will eliminate this ban and allow federal agencies the discretion to resolve complaints and settle cases in a fair manner.
  • Performance-Based Actions Against Federal Employees: The former Administration’s prior rule added language that basically left struggling employees without the ability to obtain assistance in successfully passing performance improvement plans. OPM’s change in the proposed rule would revert back to prior language that provided that as “the agency shall offer assistance to the employee in improving unacceptable performance” during the performance improvement plan process.
  • Probationary Notices: Next, OPM’s former rules required federal agencies to notify supervisors at least 3 months before an employee’s probationary period ended (with an additional reminder 30 days before it ended). The rules also required supervisors to make an affirmative decision about whether the employee should stay on the job. The rule had the unintended effect of causing many unjustified terminations and confusion. OPM’s new rules will remove this requirement because it believes that the frequency and timing of notifications should be left up to the discretion of each agency.
  • Disciplinary Penalty Determinations: The proposed rule removes many of the former Administration’s new criteria for disciplinary penalty evaluations, restating that a belief that the Douglas factors govern penalties for federal employees, leaving significant discretion to federal agencies.
  • National Guard Technician Changes: The proposed rules also would implement new requirements for procedural and appeal rights for dual status National Guard technicians for certain types of adverse actions.

If you are in need of advice regarding noncompete agreements or clauses, 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: We’re hiring — join our team

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.

Do you live and breathe renewable energy and energy efficiency? Do you have a keen community commitment, a brain for scaled sustainability programs and the experience that proves it? Does the idea of completely transforming the way energy is generated, transported, used and stored (with an expert team that loves this, too) excite you? If so, we have the perfect job(s) for you!

Come join our dedicated and fun-loving team to create a carbon-neutral Arlington.

The Office of Sustainability and Environmental Management (OSEM) within the Department of Environmental Services is seeking two highly skilled technical and programmatic staff to fill the Green Building Manager and Energy Program Specialist vacancies.

The OSEM operates as Arlington County’s core agency for climate mitigation and adaptation programs and a growing portfolio of cross-departmental and community-facing energy programs.

Learn more about these jobs, share them with your friends and colleagues, and apply!

The full job descriptions are linked below:

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