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Ask Eli: Expect Short-Term Increase in Listing, Contract Activity

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: Will I see more homes being listed for sale in the fall, or is there a steady drop in sales activity until next year?

Answer: It is completely normal for the market to slow down (pace of listing activity and contract activity) during the summer, but it was discussed much more this year because the preceding months were so crazy, locally and nationally, and everybody is on high alert to a potential bubble.

Nothing I have seen so far has suggested that the change in market conditions over the last couple months is anything more than normal seasonal behavior, so I expect the next couple months to lead to similar seasonal patterns as in years past (except for 2020).

This means a quick bump in post-Labor Day listing activity and contract activity, followed by a steady drop in both measures through the end of the year.

The chart below shows monthly listing and contract activity as a percentage of total annual activity for Arlington from 2015 to 2019, broken out by single-family homes (SFH)/townhouses (TH) and apartment-style condos/coops. The following bullets are some highlights I pulled from the data:

  • The September bump in listing activity only lasts for a couple of weeks before starting a steady decline through the end of the year.
  • The SFH/TH and condo markets behave similarly, but the changes in condo activity aren’t as extreme as the SFH/TH market. The spring peaks and summer lull are closer to average for condos, meaning seasonality plays less of a role in the condo market than the SFH/TH market.
  • The bump in post-Labor Day SFH/TH contract activity outlasts the short, but more extreme, burst in listing activity
  • From October to December, contract activity actually exceeds new listing volume, but this generally does not lead to better sales results during this time of year
  • The four months from March to June account for nearly 46% and 43% of annual SFH/TH and condo listing volume, respectively, and almost 44% and 40% of annual SFH/TH and condo contract activity, respectively.

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.

Rethink Energy: What Is Embodied Carbon? Plus Strategies to Reduce Embodied Energy

By ARLnow.com Sponsor
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As we’ve seen from recent floods and fires, climate change is an increasingly tangible emergency, and we have much to do in order to meet the moment.

The Rethink Energy team often talks about the need for more energy efficiency and to switch from fossil fuels to renewable energy production, two key actions in reducing the carbon footprint of building operations.

But as crucial as energy efficiency and renewable energy are, they are not enough. We need to also focus on the greenhouse gases that are emitted from the construction of our buildings in the first place — their embodied carbon. Put simply, embodied carbon is the carbon footprint of a building or infrastructure project before it becomes operational.

Did you know that the manufacture of building materials makes up 11% of total global greenhouse gas emissions? More than half of that is from components of concrete, widely used for building foundations and structure.

That 11% might sound small, but similar to energy efficiency and renewable energy, it is important to consider embodied carbon. Sources estimate that between now and 2050, as operational efficiency improves, embodied carbon will grow to account for nearly 50% of the overall carbon footprint of new construction. And the carbon emissions we produce between now and 2050 will determine whether we mitigate further climate impacts and reach Arlington’s Community Energy Plan goals.

Preserving and adaptively reusing existing structures, renovating instead of tearing down, and reusing what materials you can: all these are good strategies to reduce the embodied energy associated with construction. Our Green Home Choice program has helped hundreds of Arlington homeowners preserve existing homes and renovate or add onto them in order to extend their useful life. Visit our webpage at www.greenhomechoice.us or email us at [email protected] to learn how you can take action today.

We want to spotlight a lovely public art project that implements the idea of low-carbon adaptive reuse. Instead of using new raw materials, artist Dane Winkler created his new work, Timepiece Mythos, out of materials from a 19th century barn he disassembled. Dane located a disused barn, deconstructed it and reused the materials to create a new work of art, which is being presented by Arlington Arts Center in partnership with Arlington Public Art. Thoughtful choices, resulting in a beautiful and whimsical rethinking of “new” construction. Stop by and see the art installation this September on the lawn of Arlington Arts Center.

In art or construction, awareness in making decisions and being conscious of the options available are the best way towards a more sustainable and low-carbon Arlington.

You’re Invited: Master’s and Certificate Virtual Open House

By ARLnow.com Sponsor
Founders Hall and Hazel Hall at the Arlington Campus (via Alexis Glenn/Creative Services/George Mason University)

Thinking about taking the next step in your career? The Schar School of Policy and Government at George Mason University offers flexible part-time or full-time options for graduate certificate and master’s degree programs designed to teach applicable, real-world knowledge for in-demand careers.

Join our upcoming Master’s and Certificate Virtual Open House for prospective students on Sept. 14. The online session will provide an overview of the Schar School’s top-ranked master’s degree programs and graduate certificate programs, student services, and admissions requirements.

Virtual Master’s and Certificate Open House
Tuesday, Sept. 14
6:30 p.m.
Virtual session

Graduate Certificate Programs (just five courses each)
Part-time and full-time options available

  • Biodefense, Certificate
  • Emergency Management and Homeland Security, Certificate
  • Global Health and Security, Certificate
  • National Security and Public Policy, Certificate
  • Nonprofit Management, Certificate
  • Public Management, Certificate
  • Science, Technology, and Security, Certificate
  • Strategic Trade, Certificate
  • Terrorism and Homeland Security, Certificate

Master’s Degree Programs
Part-time and full-time options available

  • Biodefense, MS (offered on-campus, online and through a combination of both)
  • International Commerce and Policy, MA (offered on-campus, online and through a combination of both starting in 2022)
  • International Security, MA
  • Organization Development and Knowledge Management, MS
  • Political Science, MA
  • Public Administration, MPA
  • Public Policy, MPP

To learn more about graduate programs at the Schar School, register for the September virtual open house or fill out our inquiry form.

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.

Buenos dias, Arlington, and welcome to JUST LISTED!

Fall is pretty much here, and the real estate market looks like it sped up just a bit over the past seven days. We saw an uptick in new listings and ratified contracts this past week, as well as a decrease in overall inventory. Our pace right now is a lot slower than it was a year ago — about 25% less ratified contracts compared with the same week last year.

Mortgage rates held steady over the past week, and buyers are ready to get right back at it this fall. Buying power has stayed very steady this year because of the low interest rate environment and predictability. I don’t anticipate prices to increase rapidly this fall the way we saw them jump during the spring, but the demand will be strong enough to keep the momentum moving forward.

Another sign the market, at least listings, are about to pick up: There are currently 55 listings in ‘Coming Soon’ status in the multiple listing service (MLS). This status means that they are not yet ready for showings or open houses but alerts prospective purchasers that the home will be ready soon. Usually, homes can be in this status for no more than 21 days unless there is an extensive renovation in progress, or it is new construction.

PICK OF THE WEEK: The Andors Real Estate Group is proud to have JUST LISTED 2706 S. Grant Street, Arlington, VA 22202 — $1,149,000.

2706 S. Grant Street

This expanded and updated five-bedroom, four-bathroom raised rambler sits within walking and biking distance of the Pentagon. The main level features four generous bedrooms and three full bathrooms, including two en-suite, a formal living room, a formal dining room, and a fantastic foyer. An amazing family room has six skylights and a vaulted ceiling overlooking the private, landscaped backyard. The stunning custom patio has a seating ledge, grilling station and stretches the width of the house. The large 8,313-square-foot lot features tree houses, raised garden beds and is very private. The chef’s kitchen has a large skylight and features all stainless-steel appliances, including double Viking ovens and plenty of counter and cabinet space. The lower level has a fifth bedroom with its own separate entrance (great for an au pair), a fourth full bathroom, a spacious laundry, utility and storage space, and an attached one-car garage.

You can find me and my team here this weekend hosting in-person open houses — Saturday and Sunday 1-4 p.m.

Now for more of this week’s numbers and analysis.

Sellers listed 63 homes for sale this past week, 13 more than the week before. Buyers ratified 56 contracts, 12 more than the week prior. Of the ratified contracts, 21 were on homes JUST LISTED in the past seven days.

There are 483 available properties for sale throughout all of Arlington and across all property types: 131 are detached homes, 55 are townhome/semi-detached homes and 297 of the available units in Arlington are condos.

For a bit of perspective, this same week last year sellers listed 82 homes and buyers ratified 72 contracts. There were also only 384 available properties for sale this week last year.

The average list price for currently available properties is $801,332 and the median is $580,000. Currently available properties in Arlington have an average of 63 days on market (DOM) and a median of just 42.

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.

Statutes of Liberty: For Afghan Refugees in the United States, What Comes Next?

By ARLnow.com Sponsor

This sponsored column is by James Montana, Esq., Doran Shemin, Esq. and Laura Lorenzo, Esq., practicing attorneys at Steelyard LLC, an immigration-focused law firm located in Arlington, Virginia. The legal information given here is general in nature. If you want legal advice, contact James for an appointment.

Whatever else one might say about it, the hurried evacuation of U.S. citizens, lawful permanent residents, contractors and Afghans was not orderly. A large number of Afghan civilians — no one really knows how many at this point — are coming to our shores. The purpose of this Statutes of Liberty is to explain what will happen to them, as a legal matter, after they arrive.

Photo via the United States Air Force

The refugee flow can be reasonably divided into three big categories — approved Special Immigrant Visa holders, approved refugees awaiting resettlement and parolees. We’ll take each in turn.

Afghans who hold Special Immigrant Visas (SIVs) received those visas in recognition of services rendered to the U.S. government during the war in Afghanistan and subsequent occupation. (Obtaining those visas is hugely complex with delays measured in years. We fielded panicked calls in the last days before the airport closed, asking for our help in getting SIV petitions filed — the timeline simply didn’t work.) Those who enter with SIVs will be treated in a matter similar to refugees and will be eligible for resettlement benefits for a limited period of time — up to eight months — after they arrive. And those who enter with approved SIVs will, with the help of law offices like ours, apply for green cards.

Approved refugees are already holding their resettlement papers before they arrive. Those resettlement papers are obtained by applying for refugee status abroad, receiving designation as a refugee, and then obtaining placement in the United States. Our educated guess is that there are very few of these folks in the initial wave of Afghans. But, given the outflows of refugees from Taliban-controlled Afghanistan, more will be coming. Given a few years, expect refugees in neighboring countries to apply for (and succeed in obtaining) refugee status. Many will resettle here.

The largest, and most legally challenging, group is the parolees. Parole, in the immigration context, means permission to enter the country legally without an ordinary visa. Many of the Afghans arriving in this country will arrive with this tenuous status. In the absence of legislation, the ordinary next move would be for them to apply for asylum protection. We expect that many will do so, and, given the situation in Afghanistan, many will receive asylum.

As always, we are happy to answer questions in the comments.

Cowboy Café’s Legendary Brunch Now Available Every Morning of the Week

By ARLnow.com Sponsor
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Starting this Monday, Sept. 6, Cowboy Café will be offering its legendary brunch every morning of the week!

Our Southwest-inspired brunch menu features mouthwatering favorites such as our huevos rancheros, layered breakfast tostadas, and chicken and bacon hash. If traditional breakfast is your preference, we’ve got you covered as well! Omelets, pancakes, waffles, country-fried steak and eggs, and many more savory options are available for you. Wash it all down with a Cowboy Café mimosa or bloody mary.

On weekdays, we will now open at 8 a.m. and serve brunch until noon. Our regular menu will be available as usual from 11 a.m. to 10 p.m. Weekend brunch service and hours will remain as they currently are from 9 a.m. to 2 p.m.

We are extremely excited about adding these additional days for brunch and hope to see everyone at Cowboy Café very soon!

Want to enjoy our brunch menu from the comfort of your home? No problem! Our brunch menu will also be available for delivery!

7 Steps to Sell Your Home For More

By ARLnow.com Sponsor

Do not leave money on the table in this market! Learn everything you need to know about selling your home from one of the most successful agents on the top-selling real estate team in the D.C. metro area.

Andreea Leu, a top Seller Success Agent, is leading a selling seminar at the Keri Shull Team office in Rosslyn to answer some of those burning questions you have as you prepare to put your house on the market.

Here are some of the things you will learn in this seminar:

  • How to know the right time to sell your home
  • The right strategy for pricing your home to sell
  • The power of off-market home sales
  • How to market your home to as many buyers as possible
  • And much more!

This is a FREE seminar! Why squander an opportunity to learn how to maximize the value of your home, especially when it’s no cost to you? Get the details you need to make the most informed decision for your future, and avoid all that unnecessary stress.

The seminar is being held in-person this upcoming Tuesday, Sept. 7, and parking will be validated for those commuting by car. Wine and cheese will also be available for attendees.

Register for this event today.

Small Business Focus: Free Small Business Coaching Sessions for Arlington Businesses

By ARLnow.com Sponsor

Over the last 18 months, many small business owners have been asking themselves questions about how they can improve their business.

  • How can I attract more clients?
  • How can I attract new employees?
  • How can I adjust my business plan taking COVID-19 into account?
  • How do I build my business’s brand while increasing awareness?

If you’re a small business owner and have asked yourself similar questions and more, BizLaunch’s ReVitalize program may have the answers you need.

Launched back in March as a component of ReLaunch, ReVitalize is a free resource for small businesses where business owners can participate in coaching sessions provided by Revby, sharing their current challenges in growing or managing their small business. The sessions are centered on using strategy conversations to give business owners useful feedback.

Some of the outcomes achieved during these coaching sessions include:

  • Recommendations on website improvements
  • Support in integrating technology to improve business operations, including payment options, managing customer data and increasing sales
  • Recommendations on new social media content with real-world examples for your business
  • Support in building a business recovery plan for future crises
  • Professional opinions on critical business topics.

Curious about the program? Hear Jennifer Jones, Creative Founder of Cosmopolitan Plated, share her experience in working with Revby and how she improved her messaging for her website.

Regardless of industry, any small business with less than 50 employees and a 2021 business license can apply and participate. Companies are selected on a rolling basis each month through a lottery. At the end of the sessions, business owners will leave with documents containing valuable insights and resources on topics discussed during the sessions.

For more information about the resources available through ReLaunch, visit www.relaunch.business and apply for ReVitalize today!

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.

Hello there, September!

It’s an action-packed month here in the D.C. area and well beyond.

Monday is the Labor Day holiday and, for our Jewish friends, it’s also Rosh Hashanah. Sept. 11 marks the 20th anniversary of the 2001 attacks on our country and community, which will surely be a reflective and powerful day for all Arlingtonians. Sept. 22 marks the first day of the fall season. And there is so much more to look forward to.

Amid so many happenings, if selling and/or buying real estate is at the top of your September to-do list, let’s make it happen! There is still time to achieve your real estate dreams here in 2021, and the time-tested team at Arlington Realty, Inc. is more than ready to roll and advocate on your behalf.

Until then, here are this week’s Just Reduced numbers, and here’s to a happy September!

As of Aug. 30, there are 164 detached homes, 56 townhouses and 330 condos for sale throughout Arlington County. In total, 34 homes experienced a price reduction in the past week:

3414 N. Albemarle Street

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.

Listing of the Day: 1104 N. Kentucky Street

By ARLnow.com Sponsor
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Address: 1104 N. Kentucky Street
Neighborhood: Westover
Listed: $750,000
Open: Sunday, Sept. 5, 1-4 p.m.

Choose your modern mobility way to Westover Village’s shops, restaurants, library, services and Sunday farmers market from this adorable, affordable, updated pre-war colonial. Recent roof, windows, stone retaining walls, refinished wood floors on two levels, and fresh paint all make this home ready for the next small-house buyer.

Desirable details include a family room addition, which spans the back of the house and opens to the brick patio on one side and to the deep driveway on the other side. The room has southern shutters at the windows, cherry wood floors, multiple closets and a powder room. It opens to the updated kitchen with warm wood cabinets, Corian countertops and a deep pantry. Just off the traditional living room and dining room is a wood paneled den with vaulted ceiling, skylights and even more closets. Southern shutters cover the windows in the two upstairs bedrooms, and the primary bedroom has a walk-in closet. Just off the updated bathroom is a linen closet.

The lower-level rec room has space for media, another office or a gym. A separate shower on this level is the perfect ending after a vigorous workout. A utility sink, washer and dryer are in the utility room along with more storage. Outside there is a large brick patio, and a well-landscaped yard for play and sports and a sunny spot for gardening.

Easy access to the bike path at the end of the street and the Westover Park and Playfield.

A delightful home awaits in Westover Village.

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

Ask Eli: Should You Stage Your Home?

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: Do you recommend staging for vacant homes?

Answer: When you stage a home, you are placing temporary furniture and accessories in a home while it is being marketed for sale. In most cases, I strongly encourage staging a home instead of leaving it empty.

The value of staging shows up in two critical parts of the selling/marketing process. It improves the quality of the photos by helping people understand the scale and purpose of a room. Better photos lead to more showings. Good staging also improves the way Buyers experience the home in-person during a showing. Better showings lead to better/more offers.

Great staging helped buyers make sense of an otherwise large, open space at 3196 N. Pollard Street.

In my opinion, the three main benefits to staging a home are:

  1. Add life to empty homes: Walking into an empty house can be eerie and makes a home feel lifeless. Those are not feelings you want potential buyers to have while walking through your home. Good staging can add energy and life to a vacant home.
  2. Help rooms feel larger: This is counterintuitive, but most people perceive empty rooms as being smaller than they really are. I’ve experienced this on numerous occasions walking through empty rooms with buyers who have trouble understanding how a bed or couch can fit into an empty room that is more than big enough for their furniture.
  3. Engage the eye: Well-staged properties keep buyers engaged with room layout and functionality, but unstaged, empty rooms allow buyers to focus on flaws like paint scuffs, separating trim, poor lighting and other things you’d prefer buyers to overlook during their visit.

You do not need to stage every room. In a larger townhouse or single-family home, that can get unnecessarily expensive. Prioritize the most important rooms like the living room, dining room and primary bedrooms for the best return on investment. Accessorizing walls, countertops and shelves also adds a lot of value.

Don’t forget about staging for outdoor spaces like this patio at 4645 4th Road N.

Good staging isn’t cheap, often ranging from about $2,000 to $10,00+ depending on the size of a home and type of staging furniture, but it should be looked at as an investment like anything else you do to prepare your home for sale like painting, cleaning and landscaping. As a rule of thumb, I think investing .25-.5% of the market value of a home generates a clear, strong return.

Cheap, thoughtless staging provides little or no value at all. Sticking a chair or two in the living room or simply laying a blow-up bed on the floor of a bedroom are not the same and provide little, if any, benefit.

If you intend on living in your home or leaving your existing furniture for the sale (photos and showings), consider “occupied” staging, whereby you hire a stager to help you maximize the use of your existing furniture and accessories. Just promise not to get offended if they recommend removing your favorite lime green shag carpet. ☺

This sale used mostly furniture and accessories from the owner, with some add-ons from the stager, in a great example of a successful occupied staging approach at 1276 N. Wayne Street #1230.

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.

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