real estate

Just Reduced Properties in Arlington

By ARLnow.com Sponsor
1/8

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.

How is everyone holding up through the latest daylight saving time change?

Sure, it had to be a bit rough waking up this Monday morning, but look at all we get to enjoy here in Arlington County. “Longer” days make for that much more time post-work to explore our award-winning parks, trails and outdoor amenities. For many on our team, it’s our favorite time of year.

Speaking of time, now is an incredibly interesting and exciting time for the local real estate market. With optimism flowing and (hopefully) the worst of the pandemic well behind us, many folks are shifting gears and are ready to make a change. For buyers, sellers and renters, now is the time to assess your unique scenario.

As always, when you’re ready to chat, the time-tested team at Arlington Realty, Inc. is here for you. And now on to this week’s Just Reduced figures…

As of March 15, there are 120 detached homes, 41 townhouses and 320 condos for sale throughout Arlington County. In total, 36 homes experienced a price reduction in the past week, including:

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: How Many Agents Worked in Arlington Last Year?

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. Enjoy!

Question: How many different real estate agents do business in Arlington in a typical year?

Answer: There were 2,770 real estate transactions in Arlington in 2020 (incredibly close to the 2,782 transactions in 2019!), totaling over $2.16 billion in total sales volume (up from $1.96 billion in 2019).

I think most people would assume a few hundred different real estate agents worked on those 2,770 transactions, but in fact, there were 2,223 different agents part of those sales (remember, most transactions have two agents involved). In 2019, 2,017 different agents transacted in Arlington so the numbers are very consistent.

I looked over the 2020 Arlington transaction data and pulled out some interesting highlights:

  • 61.4% of the agents who handled an Arlington real estate transaction in 2020 work on just one sale in Arlington. (They may have done more business outside of Arlington.)
  • Just 3% of agents handled 10 or more transactions in Arlington and 0.8% handled 20 or more transactions.
  • 1,452 different agents represented buyers in Arlington, and 19 of them (1.3%) worked with 10 or more buyers in Arlington.
  • 1,316 different agents represented sellers in Arlington and 29 of them (2.2%) worked with 10 or more sellers in Arlington.
  • Of the 858 agents who handled two or more transactions in Arlington, they averaged 4.7 transactions each.
  • Only two agents with 5-plus transactions averaged $2 million or more per transaction: Mark McFadden and Jennifer Thornett.
  • Keri Shull and her team once again led Arlington in transactions and sales volume, by a wide margin, participating in roughly 8.4% of the transactions in Arlington and handling about 4% of the total sales volume in Arlington. Keri, of course, has a great team of agents and staff supporting this activity. In an article I wrote in 2019, I explained how different agents/teams are structured.

Most studies suggest that consumers are less concerned with measures like sales volume and are more focused on the strength of communication and trustworthiness of the agent they’re working with, but market expertise and experience are still important factors for most people.

While some may see the low barrier to entry to real estate licensing and a high volume of agents as a negative, it also means that you have a lot of choices as a consumer and, with some effort, can make sure that you’re working with somebody who provides the type service you’re looking for.

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 set-up an in-person meeting to discuss local Real Estate, please send an email to [email protected]. To read any of my older posts, visit the blog section of my website at www.EliResidential.com. Call me directly at 703-539-2529.

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.

Wethman Group: One of Arlington’s Top Real Estate Agents for First-Time Buyers

By ARLnow.com Sponsor

When asked why she got her real estate license more than 16 years ago, Katie Wethman responded simply: “It’s personal for me.”

Back in 2010, the long-time Arlington resident was looking for a home, and she felt like no one could clearly explain the process or answer her questions. So, she got her license and began teaching first-time homebuyer classes.

“It can be a really overwhelming process for first-time and even second-time homebuyers because people only buy a couple of houses in their entire life,” said Wethman, who’s now the managing director of the Wethman Group.

In her class, which she’s been teaching for more than 15 years, Wethman breaks down the process, eliminating the overwhelming stress many homebuyers experience.

We recently caught up with Wethman, who was voted one of Arlington’s top real estate agents for first-time homebuyers in the 2021 Winter Arlies. She shared some of her best advice for first-time buyers (or, really, any homebuyer).

1. Find the right team

When buying a home, it’s essential you work with a team you trust. Of course, this includes a real estate agent.

“If you have that, everything else will fall into place,” Wethman said.

The agents at Wethman Group are there to be your advocate, to help you make the best, most informed decision possible.

“Right now, the market is so hot that it’s really hard to separate a logical decision from the emotion and the pressure and excitement,” Wethman said. “That’s our role — to remove the emotion and point out the negative as well as the positive so you can make an informed decision instead of a rushed emotional decision.”

Another piece of the puzzle people is finding the right lender — someone who can work quickly and counsel you on different loan programs. Wethman and her team are happy to connect buyers with one of their recommended lenders.

2. Talk honestly about expectations and trade-offs

When Wethman’s team connects with a new buyer, they typically schedule two meetings so they can get to know one another, outline the homebuying process and answer any questions.

They’ll also make a list of must-have, nice-to-have and deal breakers when it comes to a home.

“Too many people waste time trying to find that needle in the haystack,” Wethman said. She encourages buyers to remember “everything in the search process is trade-offs and decisions between price, condition and location.”

Wethman’s team also performs historical analyses to see how often your perfect house is likely to come on the market.

3. Just get started, there’s no pressure

It’s no secret the real estate market is hot in Arlington right now, and that can be intimidating for first-time homebuyers. If you’re interested in buying a home — or even if you’re just a tad curious — Wethman encourages you to connect with her team.

“I think sometimes people are afraid to start the process because they don’t want to be pressured,” Wethman said.

She’s all about building long-term relationships. In fact, she’s had people reach out five years after initially connecting, finally ready to make a move.

“Sometimes the right answer is to keep renting and just keep in touch,” she said. “We’re your consultant, and we’re going to give you the right advice. It’s the same advice we’d give a good friend or family member.”

If you’re interested in exploring the homebuying journey, Wethman and her team are happy to help.

Wethman Group at Keller Williams Realty
[email protected]
703-655-7672
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Listing of the Day: 1014 N. Harrison Street

By ARLnow.com Sponsor
1/10

Address: 1014 N. Harrison Street
Neighborhood: Lacey Forest
Listed: $899,000
Open: Saturday, March 13, and Sunday, March 14, 1-4 p.m.

This appealing Cape Cod is conveniently located between Ballston and Westover Village with a recently replaced roof, HVAC, water heater, renovated kitchen and upstairs bathroom. Plus, the home is freshly painted, and wood floors have been refinished — nothing to do but move in and enjoy!

Desirable details in the home include the kitchen opening to the dining room with a vintage china cupboard, living room fireplace, main-level bedroom and bathroom. Upstairs, there are two large bedrooms with dormer ceilings to add architectural appeal. The renovated bathroom has a deep soaking tub and vanity storage. Each bedroom has generous closet space, too.

There’s a big lower level rec room with new LVT flooring and recessed lighting, plus a very private den for an office, workout space or hobbies. You’ll find great storage in the clean laundry and utility room. A private, fenced back yard is the perfect space for playing, gardening or doing sports. The front yard has a recent black metal fencing to enhance the home’s appeal.

The home is located blocks to Lacey Woods Park, the bike path and Westover Village’s shops, restaurants for carryout, beer garden, library, the venerable Ayer’s Hardware and Sunday farmers markets.

The home is served by McKinley Elementary School, Swanson Middle School and Washington-Liberty High School.

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

Open Houses in Arlington This Weekend

By ARLnow.com Sponsor

Looking for a home? There are plenty of houses and condos open for viewing this weekend.

Check out the Arlington Realty website for a full list of homes for sale and open houses in Arlington. Here are a few highlights:

1600 N. Edgewood Street
6 BD/5 BA, 1 half bath single-family home
Agent: KW Metro Center
Listed: $2,895,000
Open: Saturday, 1-3 p.m.

 

3113 N. Pershing Drive
4 BD/3 BA, 1 half bath single-family home
Agent: KW Metro Center
Listed: $1,240,000
Open: Saturday and Sunday, 1-4 p.m.

 

4341 4th Street N.
4 BD/4 BA, 1 half bath townhome
Agent: Fairfax Realty Select
Listed: $1,100,000
Open: Sunday, 2-4 p.m.

 

1144 S. Lincoln Street
4 BD/4 BA, 1 half bath townhome
Agent: TTR Sotheby’s International Realty
Listed: $995,000
Open: Saturday, 1-3 p.m.

 

3024 2nd Street S.
3 BD/2 BA single-family home
Agent: RE/MAX Gateway
Listed: $865,000
Open: Saturday and Sunday, 1-4 p.m.

 

851 N. Glebe Road #1320
2 BD/2 BA condo
Agent: Optime Realty
Listed: $725,000
Open: Sunday, 2-4 p.m.

Just Listed in Arlington

By ARLnow.com Sponsor

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

Good morning, Arlington, and happy spring!

In the past week, the price escalations have crept up to new highs, and the buyers who aren’t ratifying contracts are sincerely disheartened. It’s hard to determine exactly how many homes are ending up with multiple offers, but it’s well over 50% of the homes that sell within their first week in the market.

The Andors Real Estate Group debuted two properties in the past week that have each escalated 10% above listing price as a result of multiple offers. In the first case, that translated to over $100,000 more than the seller was asking for and, in the second, over $80,000!

Sellers put 122 homes on the market this past week, another huge uptick from the 98 homes last week and 75 homes listed the week prior. Buyers ratified 80 contracts this week, and more than half (44) of those were on homes just listed within the past seven days.

This week, there are 420 available properties for sale, an increase of 42 from the week prior.

Single-family inventory jumped from 72 to 88 available properties, while there are 41 townhome/semi-detached homes to choose from. Condos continue to make up the lion’s share of available options in Arlington with 291 to choose from as of today.

A quick comparison to last year, for the same week, sellers listed 93 homes and buyers ratified 68 contracts. There were also only 182 available properties for sale — 238 less than we have today!

The average list price for currently available properties is $753,491 and the median is $508,500.

Currently available properties in Arlington have an average of 64 days on market (DOM) and a median of just 29!

Click here to search currently available Arlington real estate. If you see a home 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 I think you might like to check out:

Just Listed — 5820 5th Street S.

Listing of the Day: 1128 N. Kentucky Street

By ARLnow.com Sponsor
1/10

Address: 1128 N. Kentucky Street
Neighborhood: Westover
Listed: $950,000
Open: Sunday, March 14, 1-4 p.m.

Expanded and renovated in 2004, this classic Westover colonial provides space for everyone and everything. The main level living room has a cozy reading nook and an area for quiet conversation. The traditional dining room can double as a place for work-from-home and homework from school. The big open kitchen has ample cabinets and counter space along with a planning desk to keep everyone organized through a day of schooling and Zooming. Just off the kitchen is a family room that flows into the screened porch for gatherings nearly year round. French doors separate a private den, ideal for Zoom calls, a second office space or play room. A powder room completes this level.

Upstairs, the primary bedroom includes a private bathroom with double vanity, separate shower and soaking tub to relax at the end of a busy day at home. Built-in drawers and shelves in the primary closet keep yoga pants and pajamas nicely organized. Three more bedrooms upstairs are served by an updated bathroom and, most conveniently, the washer and dryer are upstairs.

The basement rec room is a quiet spot for play, exercise, or music classes and jamming. Additional storage is on this level along with a utility area and sink. A deep driveway leads to the large, level rear yard for gardening and playing. Two large sheds give storage for bikes, gardening and sports equipment.

This home is just blocks to Westover Village’s retro shops, carry-out friendly restaurants, library, post office, beer garden and Sunday’s farmer’s market. Three parks are a stroller push away.

A fresh, neutral home in move-in condition.

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

Buckingham Church Could Get Buyer After Two Years on the Market

By Jo DeVoe
1/4

A new tenant could be taking over a vacant church on Arlington Boulevard in Buckingham.

The church sits on a .37 acre-parcel at 4347 Arlington Boulevard that housed Bethel United Christian Church until the congregation moved in September 2018 to the Boulevard Manor neighborhood.

“Due to uncontrollable circumstances related to parking availability, we made the decision to sell our building and move into a shared property relationship with Arlington Church of the Brethren,” according to the church’s website. The church has only tiny lots for drop-off, and there are few available street parking spots within easy walking distance.

The church building has been on the market since then, according to Saul Corral, of Fairfax Realty of Tysons, who represents the church.

“It’s such a beautiful building, inside and out,” he said, adding that there are impressive old beams that are hard to come by in modern architecture.

Contracts have been drafted with potential buyers three times already, “but unfortunately, they’ve fallen through,” Corral said.

The fourth time could be the charm for the church. A potential buyer is studying whether or not the investment is feasible, and this study period expires at the end of April, he said.

Previous buyers have had their contracts cancelled based on what they intend to do with the building, he said.

“That’s where the contracts fall through,” Corral said. “Buyers that have other intentions put a contract on it and they’re not approved” by the Arlington County Zoning Department.

The church lot is zoned for single- and multi-family dwellings, according to a county zoning map.

Although the church is vacant, the founding location of a full-time preschool, Children’s International School, continues to operate on the site.

The preschool school has been housed in the church since it was founded in 1985, and has since expanded to three more locations in Arlington and Alexandria. It expects to be able to continue operating from the building, managers have told parents.

Just Sold in Arlington: March 11, 2021

By ARLnow.com Sponsor

This past week, 51 properties were sold in Arlington, including a $3.1 million 6 BD/7.5 BA home in Country Club Hills. An underground tunnel connects the main house to the three-car garage and the guest house.

Overall, as of March 7, there were 556 homes listed for sale in Arlington, according to Homesnap. This includes 402 condos, 123 detached homes and 31 townhomes.

“The median list price is $519,900 and the median sales price is $600,000,” Homesnap reports. “There have been 197 new listings in the last 4 weeks and 276 sales.”

Here’s a look at a few of the properties sold in the past seven days:

In the market? See properties that have been Just Listed and Just Reduced.

Just Reduced Properties in Arlington

By ARLnow.com Sponsor
1/8

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.

We’re moving right along through 2021 with a major sense of hope.

Of course, we are very much still in the heart of a pandemic, and everyone should be taking the appropriate precautionary measures. But, there is also no denying that there are much brighter days just over the horizon.

Pre-pandemic, Arlington County boasted one of the strongest real estate markets in the country, anchored by low unemployment, high-paying salaries and economic drivers like Amazon’s forthcoming HQ2. While we may find ourselves within different times, these core components — and so much more — still remain.

As we make our way through COVID-19 and all of the wreaked havoc, as Arlingtonians, we should feel hopeful about what’s ahead, particularly when it comes to our historically in-demand housing landscape. When you’re ready to chat about your unique scenario and what may be ahead, the time-tested team at Arlington Realty, Inc. is here for you.

And now on to this week’s Just Reduced figures…

As of March 8, there are 114 detached homes, 39 townhouses and 298 condos for sale throughout Arlington County. In total, 38 homes experienced a price reduction in the past week:

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 Home Design Trends

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. Enjoy!

Question: What design trends are you seeing this year?

Answer: Over the past few years, home design has turned from neutralized white/grey trends that have been popular for most of the last decade, especially in new construction, to include warmer colors and more natural looks, though these trends have yet to show up in most new construction projects I’ve seen (single-family and condo).

Each year, every design magazine, paint company and furniture store comes out with their annual design trends. I collected some of the most common trends I found across all of them, as well as those that I’m seeing show up more in homes in the D.C. metro, and compiled them into some fun graphics.

The impact of COVID shows up in a big way in many trends, including trying to bring the outside in (plants/indoor gardens and wood-grain kitchens) and getting more out of existing spaces (closet-offices and outdoor kitchens). Let me know what you think and if you’ve introduced any of these colors, designs or improvements to your home recently!

(more…)

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