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!
What is Your Why?
Any way you slice it these days, it’s tough to be a buyer. Your selection of homes available for sale is lower than usual because so few homes are being listed for sale and mortgage rates are the highest they’ve been since ~2000, but prices (and competition) remain high, and are unlikely to fall because of tight supply.
Most of the conversation around the advantages of home ownership focus on the financial benefits — wealth/equity accumulation, appreciation, tax incentives, etc but those financial incentives have weakened over the last 12-14 months for many buyers but there are plenty of non-financial reasons people have for wanting to own their home like stability, greater choice, control over your environment, and fulfilling personal goals.
Non-Financial Considerations
The conversation around homeownership vs renting must include the financial pros and cons, but too often the non-financial reasons don’t get enough attention. For example, I often find that people in a transitional period in their lives do not properly value the flexibility of renting. That flexibility can even turn into a financial benefit as well.
On the flip side, I rarely hear people factor in the importance of being able to control their own environment when they’re weighing homeownership. You are a product of your environment and being able to investment in the improvements and maintenance that are important to you can have a significant effect on your day-to-day happiness and well-being.
If I missed your primary reason for home ownership in the poll, please add yours to the comment section.
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.
On September 30th, Clarendon was turned into a bustling pedestrian zone, for the annual Clarendon Day event.
This annual event once again brought the community together for a day of revelry, showcasing the local culture, and creating cherished memories. In 2023, Clarendon Day did not disappoint, delivering a rich tapestry of activities, food, music, and much more.
Local businesses, community organizations, and non-profits came together to showcase their work. Attendees learned about community initiatives, discovered upcoming events, and supported new local businesses.
Arts and crafts enthusiasts were delighted by the festival’s offerings. The vendor stalls were a treasure trove of unique and handcrafted items, including jewelry, clothing, artwork, and home decor. Shoppers found it easy to indulge in retail therapy, whether searching for the perfect gift or a treat for themselves.
The diverse range of food vendors made it impossible to resist the culinary temptations.. Festival-goers enjoyed an array of delicious options, from gourmet dishes to street food classics. International cuisine, delectable BBQ, and mouthwatering desserts satisfied every palate.
The event also catered to families with a dedicated Kids Zone. Children were entertained with face painting, games, and interactive exhibits, allowing parents to relax and soak in the festival’s atmosphere.
Clarendon Day’s true essence lay in the sense of community that filled the air. Residents and visitors united to celebrate the unique spirit of the neighborhood, fostering a sense of togetherness that was both heartwarming and contagious. This year’s event was a resounding success, capturing the spirit of community, culture, and celebration. Whether a local resident or a visitor to the Washington D.C. area, Clarendon Day is an event not to be missed.
Please reach out to me if you want to learn more about Lyon Village or the many other wonderful neighborhoods in Northern Virginia!
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.
Come celebrate Virginia Wine Month with the biggest Virginia Sunday Super Tasting ever!
Join Arrowine this Sunday, October 22 from 1-4 p.m. for some wine. October is Virginia Wine Month, so let’s celebrate!
We promise you will be impressed with the wines. Virginia has one of the country’s longest wine growing histories outside the West Coast. There are eight distinctive Viticultural Areas in Virginia, accomplished winemakers, and a growing body of critical acclaim to cement Virginia’s ascending reputation for world-class wines.
This Sunday Super Tasting is taking place with four different Virginia wineries represented, including:
Early Mountain
Glen Manor (with Jeff White)
Rosemont (with Justin Rose)
Domaine Finot (with Matthieu Finot)
Additional Details
Cost: There is no charge for this exciting tasting event!
Discounts: Tasting discounts are on! Every wine you taste will be On Sale during the event, discounted at least 10% off the regular price. We’ll also have wine available for purchase, and if you want more than we have available, discounts will apply to tasting wines you order during the event, too!
Reservations: This event is popular. To keep it comfortable and provide the best possible service, please reply (wine @ arrowine.com) and let us know if you plan to attend. Please include the following information:
Name
E-mail or phone number
Number of peoplein your group
When you expect to arrive: (a) 1–2 p.m., (b) 2–3 p.m., or (c) 3–4 p.m.
This will allow us to plan appropriately and steer late reservations to less crowded times.
Introducing NVHomes at Carlin Place, a private enclave of new construction townhomes near all the amenities of Columbia Pike and greater Arlington.
Here you can own a 3, 4, or 5-bedroom residence with 2-car garage parking, two outdoor living space, and plenty of space for entertaining guests.
Nearby, Tyrol Hill Park, Glencarlyn Dog Park, and Four Mile Run Trail provide year-round fitness opportunities, while the shops along Columbia Pike provide routine neighborhood services, as well as dining and entertainment experiences such as Arlington Drafthouse and William Jeffrey’s Tavern.
Carlin Place offers buyers a choice of 3 different floorplans with options for immediate move-in or Winter/Spring 2024 move-in.
New homes start at just $5,626*/month while financing with a 2-1 Buydown Program on a purchase price of $949,990 with a total $759,992 loan amount:
$5,626/total monthly payment in year 1 at a rate of 6.375% (8.513% APR)
$6,134/total monthly payment in year 2 at a rate of 7.375% (8.513% APR)
$6,661/total monthly payment in years 3 – 30 at a rate of 8.375% (8.513% APR)
With prices starting at just $949,990, there isn’t a better new home value anywhere in Northern Virginia.
Interested purchasers should visit the community which is open Saturday through Tuesday by appointment at 806 S Greenbrier Street in Arlington.
*Financing example based on a Conventional 30 year loan product with a 2-1 buydown. Based on a sales price of $949,990, a loan amount of $759,992 and a 20.000% down payment. Principal and interest payment of $4,741/month with a rate of 6.375% for year one, $5,249/month with a rate of 7.375% for year two, $5,776/month with a rate of 8.375% for year three and an APR of 8.513%. Rates come at a cost of 0.375% of the loan amount. Real Estate taxes are estimated at $802 per month and hazard insurance is estimated at $83 per month for a total monthly payment of $5,626 for year one, $6,134 for year two and $6,661 for years 3-30. Mortgage insurance is not included in this scenario. Monthly HOA fee not included in payment. Rates on loan programs may vary based on credit criteria, final amount of down payment and are subject to current market pricing. Financing is available through NVR Mortgage Finance, Inc. NMLS ID# 1127, who is licensed by the Virginia State Corporation Commission as Mortgage Lender and Broker, license no. MC-528. NMLS ID# 420747, www.nmlsconsumeraccess.org. Equal Housing Opportunity.
This column is sponsored by BizLaunch, a division of Arlington Economic Development.
Are you a small business owner looking to reach your customers? Looking for help with marketing? Or maybe you just want to show people that your business #slays?BizLaunch has just what you’ve been searching for.
BizLaunch created the brand-new Arlington Small Business Directory with your busy business and customers in mind. How? With a built-in SEO, opportunities for business owners to customize their profile, and a user-friendly layout for customers to search for local shops.
Businesses can use the app to upload pictures, list promos and discounts, and mark services like “takeout” or “outdoor dining.” Are you a minority-owned business in Clarendon? Or maybe you offer your services in other languages? You can list all that info (and more) too.
Once you’ve updated your profile, BizLaunch will advertise the platform year-round to Arlingtonians. There are no price tags, no hidden terms and conditions — just free marketing to promote consumers across Arlington (and the DMV) to shop small and local.
Eager to get started? All we need from you is to make your edits, which you can learn how to do by clicking this link. After that, BizLaunch will do the rest.
It is that simple (and free). So, log in, make your edits, and let Arlingtonians see how #slay it is to shop from you.
For questions on how to use the platform, contact Prakriti Deuja at [email protected].
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 October 16, there are 137 detached homes, 32 townhouses and 180 condos for sale throughout Arlington County. In total, 27 homes experienced a price reduction in the past week, including:
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.
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!
Answer: Last week I joined ARLnow founder Scott Brodbeck for a live podcast discussing a range of local real estate topics including market conditions, the struggle of buying, Missing Middle, and more! Scott and I hope to continue doing live podcasts when there is a good intersection of news and real estate.
Look for us to go live on social media so that you can listen in or ask questions live on the podcast.
The full podcast transcript is copied below, if you’d like to search for specific words and look at where it’s discussed in the video.
Scott: [00:00:00] All right. So thank you for joining us today. We’re going to talk for about half an hour this afternoon about the state of the Arlington real estate market. This is the first time we’ve done anything like this live. So it’s a bit of an experiment. So bear with us if some of the technology does not go perfectly.
So Eli, you are noted by our readers from your Ask Eli column for just having mounds of data from which you pull insights. What is your take on the current state of the real estate market in Arlington, where we have 8 percent interest rates, and it seems like a weird place. Help us out. What’s going on?
Eli: Yeah, so it is a weird place. And where we’re at now is oftentimes, not just this year, but in other years, you get some scary feelings about what’s next. Things start to slow down and it’s generally a fairly significant slowdown from earlier in the year. And so we are experiencing fairly normal seasonality right now.
The metrics are [00:01:00] aligned with what we usually experience this time of year. Demand is petering off. Inventory is slowing down. Properties are sitting on the market a bit longer. There’s more price reduction. So this happens this time every single year, and oftentimes people make the mistake of getting lulled to sleep and thinking that they can just let the holidays come and roll easily into the next year and buy. But that’s what everybody plans to do and oftentimes we see demand in the market quickly turn by the second or third week of January. But what we’re seeing is a little bit extreme of a version of some of those data points. And it’s because both buyers and sellers are getting pulled away from the market because of primarily the high interest rates.
There’s a lot of both parties sitting on the sideline. And so the change in days on market that we’re experiencing now is more significant [00:02:00] than compared to earlier this year than what we would experience in a normal year. We do have a larger percentage of properties on the market that are reducing their price, but we’re talking about just percentages.
So right now in Arlington, I think something a little under 40 percent of homes have reduced the price that are sitting on the market. That’s normally like in the mid thirties. And so it’s similar, but a little bit more extreme version of that. We’ve got low inventory, but an extreme version of it, right?
We are down 20, 30 percent in the amount of inventory that would normally be coming to market this time of year, even though it’s normally still pretty slow. And all of that, even though demand is particularly slow because of high interest rates, there’s enough sellers sitting things out and sitting on the sideline and keeping supply low that it’s like this balancing effect on the supply demand. And prices are mostly staying level. There’s more deals [00:03:00] out there right now than you would expect in early part of the year, but we’re certainly not bottoming out, even though it might seem that way to some sellers who after three weeks don’t have an offer and their hair’s on fire a little bit, but that’s normal for this sort of this time of year.
Scott: So if you were to compare this market to let’s say 10 years ago, I don’t remember where the interest rates were 10 years ago, but it certainly wasn’t at two and I believe lower than eight, correct me if I’m wrong,
Eli: — four fives ish. In the early part of the decade there. We had moved into a low interest rate environment due to the stimulus and everything from the great recession and it was low rates. And so I think generally, if I recall, we were in the fours and fives.
Scott: So is this at all comparable to that market where the interest rates were a little slightly higher than they were a few couple of years ago? I don’t know. I was not in the real estate market myself at that point.
Eli: You know, the most recent memory people have of major shifts in the real estate market [00:04:00] is the great recession, right? Is kind of 11, 12, right? And people have been looking for patterns that would suggest we are moving into a similar pattern as that, but it’s just a totally different situation. It’s a wildly different set of economics that we’re dealing with. It’s not comparable really at all. That shock was one brought on by collapsing mortgages, enormous supply, people unable to afford their homes, short sales and foreclosures, which were sending tons of inventory to the market while at the same time, demand was down because markets were collapsing in general, stock prices were down, people were losing their jobs. And that’s why prices dropped. And so the recovery phase was a winding down of all that inventory and a rebuilding of demand as people started to get more confident around 11, 12, 13. We don’t have [00:05:00] that kind of inventory, right?
And so prices are not falling. I think it, one, speaks to the kind of the stability and strength of the Arlington market and the local D.C. area market. That’s what a lot of the markets in the country are experiencing just because supply is so low. So it’s not allowing the week in demand and the interest rates to really push prices down.
And so there’s not really a lot of similarities to what we had happening 10 to 15 years ago. And this interest rate shock is significant if rates come down a little bit, like they did moving through the recession, which helped to stimulate some of the market. If we drop by a percentage or two, I think, hold on, right?
If the average rate comes down to five and a half, 6%, which I don’t think it will anytime soon, but if something happens that causes that to happen relatively quickly. I mean, hold on, there’s going to be a wave of buyers coming off the market. And are off the bench and much faster than sellers will come off the [00:06:00] bench and decide it’s time for them to move.
Recently we’ve made concerted efforts to diversify our offerings and engage in collaborative events beneficial to all aspects of Arlington, such as our annual student show with Arlington Career Center; participation in Langston Boulevard Alliance’s Earth Day celebration; an artwork donation event with Crystal House; a veterans show with Uniting US; and much more.
We, the Arlington Artists Alliance, thank those that have helped make our recent expansion possible. Support from Amazon, TTR Sotheby’s International Realty, and JBG Smith have contributed immensely to our positive endeavors. JBG Smith is a longtime collaborator and benefactor of our Crystal City spaces. Sotheby’s sponsors Gallery Underground and off-site event receptions ensuring art reaches all corners of Arlington.
Amazon’s generous support enables the success of our annual student show, which directly impacts over 70 Arlington Career Center students each year. We’re also grateful for continued support from the Arlington Cultural Affairs and Arlington Commission for the Arts; Virginia Commission for the Arts; and the National Endowment for the Arts. Through your generosity, the arts become not just an event, but an experience.
To our Arlington community, your continued enthusiasm and participation with our organization gives life to our mission. Your feedback, attendance, and word-of-mouth recommendations amplify our reach and impact, helping us weave art into the heart of our community. We look forward to seeing you at events and continuing to share the magic of art with Arlington. Visit us at www.arlingtonartistsalliance.org.
Address:2554-A S. Arlington Mill Drive Neighborhood: Windgate Type: 3 BR, 2 (+1 half) BA townhouse — 2,000 sq. ft. Listed: $725,000
Noteworthy: Recent renos, near bikepath, Shirlington restuarants, nightlife, groceries
Updated three level brick end townhouse set amid the lush landscaping of the Windgate II community.
Recent heating and air conditioning, water heater, renovated baths, kitchen appliances, wood floors in bedrooms, and other niceties. Enter through a front porch to a large living room that flows into the dining room and then the family room opens to the kitchen. Just off the family room is a fenced patio with areas for gatherings, plants and pets. A powder room and coat closet complete this level.
Upstairs, the primary bedroom has double closets and a private, renovated bathroom. The second and third bedrooms are served by a recently-renovated hall bathroom. The unfinished basement has high ceilings, rough-in plumbing for another bathroom and provides space for laundry, storage, hobbies, and crafts. Finish it to your needs or use the clean, fresh area as you wish.
The townhouse has two parking spots, and the well managed community provides a pool, gazebo for gatherings, and two tennis courts Windgate is near a bike path and Shirlington Village for Harris-Teeter groceries, Signature Theatre, a host of restaurants, shops, services, and movies. The Shirlington bus hubs provides service to the Pentagon, Crystal and Pentagon Cities, for Amazon HQ2 and Ballston. Easy access to Rt. 7 to Tysons and I-395 to everything.
This pristine townhouse awaits the savvy buyer who values space and location.
Dylan, the best-selling luxury condominiums in the Metro Washington area is now delivering, with three beautiful new models to tour.
You’re invited to a Grand Opening Event at Dylan this Saturday, October 14 and Sunday, October 15 from 11 a.m. to 2 p.m., located at 737 Swann Avenue, Alexandria, VA 22301. Now is the time to buy at Dylan — with record sales over the past few months, remaining inventory is in high demand, and you can move in immediately!
Dylan is conveniently located in the heart of Potomac Yard’s stunning transformation next door to National Landing, home of Amazon’s HQ2 and Virginia Tech’s new billion-dollar Innovation Campus. Enjoy a quick walk from Dylan to the newly opened Potomac Yard metro, which is just one stop to Reagan National Airport.
Dylan still has plenty of affordable, luxury new construction available for sale. Our featured one-bedroom floor plan is now priced from $598,900 and includes a chef-inspired kitchen, a separate powder room (so guests are not using your owner’s bath), spacious owner’s suite, and great entertaining space.
An exceptional experience begins with Dylan’s luxurious lobbies and continues with the innovative fitness center and indulgent rooftop lounges and outdoor terraces featuring stunning views of the Potomac River, Washington Monument and Capitol.
Residents will enjoy modern conveniences such as pet washing stations, underground reserved parking spaces included in the list price, bike storage, Amazon hub lockers, and a convenient Work-at-Home business center.
Around the corner from Dylan is Potomac Yard Park, a 25-acre long, linear park dotted with playgrounds, basketball and tennis courts.
Schedule your tour today and see what is waiting for you at Dylan. The Sales Gallery is open daily from 11 a.m.-5 p.m. Contemporary condominiums priced from the $600s to $1.2M.
This sponsored column is by Law Office of James Montana PLLC. All questions about it should be directed to James Montana, Esq., Doran Shemin, Esq., Janice Chen, Esq., and Austen Soare, Esq., practicing attorneys at The Law Office of James Montana PLLC, an immigration-focused law firm located in Falls Church, Virginia. The legal information given here is general in nature. If you want legal advice, contact us for an appointment.
[This is the second installment in our new series here at Statutes of Liberty, in which we interview professionals in our field to provide our readers with varying perspectives on what it is like to work in the immigration system.]
For our second installment — Meet Your Asylum Officer — we are pleased to introduce Jennifer Bibby-Gerth, Esq., a former asylum officer and current Senior Managing Attorney at Catholic Charities Immigration Legal Services, Archdiocese of Washington.
Jennifer Bibby-Gerth tells it like it is.
A Q&A between Ms. Bibby-Gerth and James Montana follows here.
Montana: Jennifer, let’s introduce you to the readers. When were you an asylum officer, and for how long?
Bibby-Gerth: I worked as an asylum officer for about six years, from about December 2007 to September 2013. I was a line officer first, and then a Quality Assurance Trainer; in the latter role, I reviewed the work of supervisory asylum officers.
Montana: Let’s get to the heart of the matter: the backlog. We all know that the asylum office is backed up. There are, by the admission of the Asylum Directorate, ONE MILLION pending cases. How many interviews is each officer supposed to do per week?
Bibby-Gerth: When I worked at the Arlington Asylum Office, officers would conduct two interviews per day, four days per week. Sometimes there would be one additional interview per week, for a total of 16-18 interviews every two weeks.
Montana: So, that’s how many interviews get done. How many decisions get made in the same period?
Bibby-Gerth: Approximately the same number. At the asylum office, an asylum officer writes her recommendation, and then the case is forwarded for Supervisory review by a Supervisory Asylum Officer (SAO). A few cases also are sent to headquarters for a review of the recommendation to grant asylum or refer to immigration court. In addition, background checks have to be completed.
Montana: Do grant rates vary widely between asylum officers?
Bibby-Gerth: Yes.
Montana: Why?
Bibby-Gerth: People are different.
Montana: Do SAOs (supervisory asylum officers) have significant influence over the decisions of line officers?
Bibby-Gerth: The SAO is supposed to check for legal sufficiency in the decision. Some SAOs insert themselves to a greater degree.
Montana: Why do I have cases that have been pending for years post-interview?
Bibby-Gerth: Headquarters review is usually the bottleneck. After an initial recommendation is made, the supervisory asylum officer sometimes forwards the case to Quality Assurance, then Quality Assurance forwards the case to a Headquarters Asylum Officer. There are very few Asylum Officers at headquarters.
Montana: Why?
Bibby-Gerth: Cases that require Headquarters review often are complex. They also might require multiple layers of headquarters review. For example, they might need to be reviewed by a team that makes decisions regarding issuing exemptions to the Terrorist Related Inadmissibility Grounds when a person (may or may not) have given support to a terrorist organization under duress.
Montana: How are working conditions at the Arlington Asylum Office?
Bibby-Gerth: They’re fine. Sometimes the number of interviews per two week period got to be too much.
Montana: Is the workforce unionized?
Bibby-Gerth: Yes.
Montana: How much power does the union have?
Bibby-Gerth: Substantial power. If an asylum officer has a conflict with management, say a Supervisory Asylum Officer, the union represents the interests of the asylum officer.
Montana: Is the current LIFO system a good idea? (Attorney note: Last In, First Out — the newest cases get heard first, then the most recent ones, then the older ones, then the oldest ones)
Bibby-Gerth: They’re not doing LIFO.
Montana: What?
Bibby-Gerth: They say that they’re doing LIFO, but that’s not what’s actually happening at the asylum office. They’re mainly doing Credible Fear interviews and interviewing paroled Afghan asylum applicants.
Montana: Let’s turn to information that asylum seekers should know. What’s the most important part of an asylum application?
Bibby-Gerth: By far, the Declaration. (Montana’s note: The declaration contains a plain-language statement of why the applicant for asylum fears returning home.)
Montana: How long should it be?
Bibby-Gerth: Definitely less than ten pages.
Montana: Do unrepresented clients draft better declarations than attorneys do?
Bibby-Gerth: No, never. Attorneys are better at providing the information that matters.
Montana: What’s the solution to the backlog?
Bibby-Gerth: Amnesty. We’ve been here before. We had a huge backlog of Central American asylum cases in the 1980s. In 1997, Congress passed NACARA, effectively an amnesty for those applicants, and then the asylum system was able to return to a sustainable pace.
Montana: Thank you very much for your time today. (Rummages around in his bag.) Would you like a home-baked loaf of bread for your trouble?
Bibby-Gerth: Thanks, James. I’ll share it with the other lawyers at lunch!
As always, we welcome your comments and will do our best to respond.
