real estate

Listing of the Day: 3001 N. Edison Street

By ARLnow.com Sponsor
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Address: 3001 N. Edison Street
Neighborhood: Yorktown
Listed: $1,599,000

This gracious and updated 6 BD/5 BA colonial with three-car garage parking sits on one of the most desirable lots in North Arlington with nearly 18,000 square feet and backing directly to Rock Spring Park with your own private dead-end on one side.

Natural beauty combines with walkability — blocks to Lee-Harrison shops, Greenbriar Park, Chestnut Hill Park, and Discovery Elementary School, Williamsburg Middle School and Yorktown High School. This nearly 5,000-square-feet impeccable home offers new construction space, layout and finishes for a fraction of the price!

A remodeled eat-in gourmet kitchen with stainless steel appliances, granite counters and an island with a pull-up bar opens to large family room with a fireplace. The main level includes an office, full bathroom, formal living  and dining rooms — both with wood-burning fireplaces — and a private deck off the living room and kitchen, which is perfect for entertaining. You’ll also find gleaming hardwood floors on the main and upper levels.

Upstairs is four bedrooms and three bathrooms. The expansive master suite with a vaulted ceiling has a walk-in closet and en-suite spa bathroom with dual vanities and a separate soaking tub/shower. There’s also a convenient upper-level laundry room.

A fully finished and recently updated lower level is accessible from two separate garages — a two-car garage and a one-car garage, perfect as a workshop or storage room. A large sixth bedroom with an en-suite bathroom is ideal for an au-pair/nanny. You’ll also find a comfortable rec room with a fireplace and separate mudroom. Closets galore for storage!

You can take a 3D tour of the home online.

Listed by:
Liz Lord
Compass Real Estate
571-331-9213
[email protected]
www.arlvahomes.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.

Good morning, Arlington!

The continued winter weather doesn’t deter the ravenous buyers of their Arlington real estate dreams… Their appetite has built up for quite some time, and they aren’t waiting until spring.

Surprise, surprise? Buyers outpaced sellers again this week with 72 ratified contracts while sellers listed some 64 properties for sale. Of the ratified contracts, 30 were on homes listed within the past seven days.

This same week in 2020, sellers listed 62 homes and buyers ratified 59 contracts.

There are 376 properties currently available for sale in Arlington — just two more than last week. Of those, 77 are single family properties, 22 are townhouses/semi-detached properties and 277 are condos.

The average list price for currently available properties is $739,029 and the median is $475,000.

Pick of the Week: 1136 S. Edison Street, Arlington, VA 22204 — $715,000

You can find me this Saturday, Feb. 13, 1-4 p.m. at this adorable, charming Arlington colonial. With three bedrooms and two full bathrooms, this home is move-in ready and won’t last long. Lovingly cared for and completely renovated, there is little left to do other than pick where to put your furniture. A great backyard with patio and privacy and driveway parking for two cars complete this Just Listed home.

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:

Boring Title: 4 Tips to Help You Get Top Dollar for Your Listing (Video)

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.

For this week’s edition of Boring Title, we sit down with the founder of the Shepherd Homes Group, Jason Cheperdak. In January, Jason’s team sold 19 units for a total sales amount of $12 million and was ranked in the top 1% of agents in Virginia.

Jason talks about expectations when listing a home in Arlington, and he gives us four tips to help you get top dollar for your listing!

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! 

Just Sold in Arlington: Feb. 11, 2021

By ARLnow.com Sponsor

A variety of homes sold in Arlington this past week — from a $2.1 million Lyon Village home to a $210K condo in Columbia Heights.

In total, 30 properties were reported sold across the county.

As of Feb. 7, there were 511 homes listed for sale in Arlington, according to Homesnap. This includes 364 condos, 115 detached homes and 32 townhomes.

“The median list price is $525,000 and the median sales price is $580,000,” Homesnap reports. “There have been 155 new listings in the last 4 weeks and 160 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
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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 gave Valentine’s Day some love last week. Now, let’s give another upcoming holiday a little shoutout, too.

Monday (Feb. 15) is President’s Day, which, depending on your interpretation, honors George Washington and Abe Lincoln… or all of the lives of U.S. presidents.

Living in Arlington County, we are right at the president’s doorstep, whoever it may be at any given time. And with the grandeur of D.C. comes so much historical significance as well as educational opportunities. So, as we celebrate President’s Day, take a moment to appreciate just how cool of part of the globe we live in — it will make you love living here that much more.

The team at Arlington Realty, Inc. is always ready to help you find the home of your dreams. Whether you’re looking to embark on your house-hunting journey on your day off (a lot of folks do have off for President’s Day!) or have any questions that require local expertise, we are here for you.

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

As of Feb. 8, there are 101 detached homes, 30 townhouses and 289 condos for sale throughout Arlington County. In total, 21 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: COVID-19 Impact on Arlington’s Rental Market

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 has COVID-19 impacted Arlington’s rental market?

Answer: Recent articles have shed light onto just how much COVID-19 has hurt the apartment rental market in the D.C. metro area, including an article about rents dropping by 14% in Arlington and an article on rents in D.C.’s Class-A high-rise buildings dropping approximately 18%.

I have certainly experienced the difficult rental market in the past 10 months with clients who have struggled to find new tenants for their condos for months, even after significant price reductions. In some buildings, there are double-digit numbers of condos being offered for rent, with little interest.

I have also spoken to many condo owners who are turning to selling units after months of vacancy trying to rent them out, which is one of the reasons for last year’s explosion in condos listed for sale.

I took a look at last year’s rental market for apartments, townhouses and single-family homes and compared it the previous four years to see how each sub-market performed. There’s a summary of key findings below and a detailed data table to follow.

Note that this only includes properties in Arlington that were rented through Bright MLS. Most commercial rental buildings do not use the MLS and not every homeowner with an investment property rents through the MLS, but the number of properties rented through the MLS is enough to make this statistically reliable data.

Key Findings

  • Condo rentals dropped in price for studios (-10.2%), one-bedrooms (-4%) and two-bedrooms (-1%). If you remove January and February (pre-COVID) listings, the price drops increase further. I suspect 2021 will see an even larger drop in rental prices because many owners are still trying to find a tenant.
  • The average time to rent a unit increased by 50% to two months, and tenants negotiated significantly further below the asking price than ever before.
  • Two-bedroom units struggled, but not nearly as much as studios and one-bedrooms units, likely because the second bedroom provides a much-needed home office.
  • COVID-19 had the opposite effect on single-family and townhouse rentals with prices increasing to all-time highs, homes renting faster than ever before and owners securing prices closer to their asking price than ever before.
  • Rentals of small two- and three-bedroom houses and large four-bedroom townhouses were in the most demand, with average days on market just 3.5 weeks and some of the highest rental price to asking price ratios of any property type.
  • I expect single-family and townhouse rentals to have an even better 2021 (from the perspective of the homeowner) as people continue trying to get more space, avoid common living and find buying those homes to be cost-prohibitive and/or too difficult (competitive).

If you’d like to discuss buying or selling strategies, 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.

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:

4622 N. Dittmar Road
6 BD/5 BA, 1 half bath single-family home
Agent: Washington Fine Properties, LLC
Listed:$1,795,000
Open: Saturday and Sunday, 2-4 p.m.

 

2522 24th Street N.
6 BD/4 BA, 1 half bath single-family home
Agent: RE/MAX Allegiance
Listed:$1,599,900
Open: Sunday, 1-4 p.m.

 

772 N. Wakefield Street
3 BD/3 BA, 1 half bath townhome
Agent: Long & Foster Real Estate
Listed: $1,025,000
Open: Saturday, 1-3 p.m.

 

4034 7th Street S.
4 BD/4 BA, 1 half bath single-family home
Agent: Samson Properties
Listed: $999,000
Open: Saturday and Sunday, 12-3 p.m.

 

1021 N. Garfield Street, #828
2 BD/2 BA condo
Agent: KV Realty
Listed: $888,888
Open: Saturday, 1:30-2:30 p.m.

 

1185 N. Vernon Street
2 BD/3 BA townhouse
Agent: McEnearney Associates
Listed:$749,000
Open: Saturday and Sunday, 1-3 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.

Hello, Arlington!

As I write this, always the day before you read it, I celebrate my ## birthday (Feb. 4)! I won’t tell you how old I am, but I’m old enough to have three kids, a loving wife, a successful and meaningful business, and plenty more to be thankful for.

This past year has been one to remember (or forget), but it’s hard to believe I’ve been writing this column for a whole year already. Having grown up here in Arlington and attended school in the county, I’ve spent many of my birthdays here, and it’s been such a great place to call home. I also love working here and being engaged in this wonderful community and am glad to have all of you as weekly readers of JUST LISTED.

The market just flipped, and buyers finally ratified more contracts this past week then sellers listed homes! The buyers outpaced sellers with 72 contracts while sellers listed some 67 new homes this week — 28 of the ratified contracts were on homes listed within the past seven days.

This is the type of activity we expect in the spring, and spring has started early! If the snow didn’t deter the buyers, I don’t know what will. Interest rates are hovering near all-time lows, but there’s a good chance they break above 3% this year. For now, they are hovering at about 2.7% for a fixed-rate 30-year mortgage.

This same week in 2020, sellers listed 64 homes and buyers ratified 41 contracts. Where we really see the contrast from this year to last year is available inventory. Fifty-two weeks ago, we had 161 active listings, and this week we have more than double, at 374 — 75 are single family properties, 24 are townhouses/semi-detached properties and 275 are condos.

The average list price for currently available properties is $757,714 and the median is $509,945.

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: 1811 N. Lincoln Street

Just Sold in Arlington: Feb. 4, 2021

By ARLnow.com Sponsor

This past week, 54 properties were reported sold across Arlington County. That’s way up from last week’s 31 properties sold.

As of Jan. 31, there were 516 homes listed for sale in Arlington, according to Homesnap. This includes 363 condos, 122 detached homes and 31 townhomes.

“The median list price is $536,250 and the median sales price is $605,000,” Homesnap reports. “There have been 166 new listings in the last 4 weeks and 161 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.

Hello, lovebirds.

Rather than waiting for Valentine’s Day to super-creep up on us all, here is your friendly reminder: The big day is in 11 days (Feb. 14).

You’ll want to prepare accordingly. With everyone in the world going wild on Amazon, make sure to get your boo’s gifts well in advance so they arrive in time. And, please, let’s show our local retailers some love as we all continue to navigate these loony times.

For some couples, a nice box of chocolates or a colorful bouquet of roses strikes the perfect chord. And, for other couples, their Valentine’s priorities may be focused on even bigger or more long-term goals. Every couple is different, so do your thing!

As always, when you and your love are ready to talk real estate aspirations, the team at Arlington Realty, Inc. is ready to roll on your behalf. In the meantime, here’s to a day of happiness and well beyond.

And now to this week’s Just Reduced figures…

As of Feb. 1, there are 106 detached homes, 31 townhouses and 286 condos for sale throughout Arlington County. In total, 32 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: Market Values 18.2% 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. Enjoy!

Question: How accurate are the County’s tax assessments when it comes to determining the market value of a home?

Answer: Arlington’s property tax rate will remain unchanged in 2021 at just over 1%, but many homeowners will pay more in property taxes because of higher assessed values from the County. For those with plans to sell in the near future, the rapid appreciation of Arlington real estate values is a good thing, but for those with no plans to sell, appreciation simply means a higher annual tax bill.

If you’re upset by recent increases in your home’s assessed value, just know that you’re most likely getting a significant break compared to your home’s actual market value. Homes that sold in 2020 sold for an average of 18.2% (14.9% median) more than their most recent assessed value by the County. Last year, the average difference was 14.2% and the year before it was just 7.6%.

If County assessments were representative of actual market values, the average Arlington homeowner would pay just over $1,100 more per year in property taxes. So don’t forget to send the Department of Real Estate Assessments a Christmas card this year for such generous valuations!

Only 5.9% of homes sold for less than their most recent assessed value. On the other end of the spectrum, 6% of homes sold for 38% or more over their most recent assessed value.

Let’s take a look at the data!

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. Here are the key steps in appealing your assessment:

Reminder: Your first appeal with the Department of Real Estate Assessments must be filed by March 1.

  • Step 1: Call 703-228-3920 for information on how your assessment was determined.
  • Step 2: File your appeal online here (first level).
  • Step 3: An assessor will visit your home and you can provide relevant info to make your case.
  • Step 4: If you’re not satisfied with the decision or have not received written notice by April 1, file your second appeal with the Board of Equalization online here (second level) by April 15.
  • Step 5: If you’re not satisfied with the decision, your final option for appeal is with the Circuit Court, which will likely require you to hire an attorney.

If you’d like to discuss buying or selling strategies, 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.

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