real estate

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.

Every once in a while, I like to remind everyone how crazy Arlington can be when it comes to housing.

This past month, a condo sold for 19% over list price! Listed at $468,000, sold for $558,000. In the same timeframe, another home sold for 92% of list price… Netting the seller $54,000 less than they expected. Sales ranged from $152,000 all the way up to $3,200,000.

While the median and average hang right around 100%, our market certainly can be a bit unpredictable. Some homes sell their first day on the market, and others take a year and a half or more.

How do you navigate these ups and downs when considering buying or selling in Arlington?

Shameless plug? Sure James, let’s hear it!

I’d start by calling the Andors Real Estate Group… In the past year, we’ve gotten our buyer clients under contract many, many times in multiple offer scenarios, and our sellers as much as $56,000 over list price. Our average days on market is 6, and our median is 7. No home took longer than 12 days to sell, and our sellers took home an average of $12,000 more than what they asked for.

The Andors Real Estate Group is ready to help you gain an edge in a complex market!

Thanks James, just give us the numbers…

This past week in Arlington, sellers listed some 89 properties for sale while buyers ratified 62 contracts. 20 of the ratified contracts were on homes listed just within the past week.

There are currently 529 homes for sale in Arlington, 31 more than last week. 151 are detached homes, 48 are townhouses/semi-detached, and 330 are condos.

This week last year, there were only 257 homes available for sale in Arlington. With 529 homes available right now, the marketplace sure does look different. Last year, that was about 1.3 months of inventory. Despite more than double the inventory, we’re selling more homes per week and have just over 2 months of inventory available right now.

Average days on market (DOM) for currently available homes is 47 and median DOM is 29. The median list price of currently available properties is $615,000, while the average is $806,681.

Last year for the same week, sellers listed 46 homes and buyers ratified 48 contracts.

Click here to search currently available Arlington real estate — if you see a home you’re interested in purchasing, we’d love to help!

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

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.

Fire Prevention Week kicked off on Friday and runs through this Saturday, October 10.

While the fires we see and hear dominating the news cycle are the wildfires in California these days, fires — in homes — can affect anyone and everyone.

According to Safety.com, there are more than 365,000 fires and 2,650 civilian deaths as a result of fires. And, sadly, most home fires are preventable.

Here in the heart of fire prevention week, a friendly reminder to check on a few things. If it’s been a while since you’ve checked he batteries in your smoke alarms, now is a wonderful time. Also, if you do not have a fire plan — to utilize in case of an emergency — it’s a great time to start planning. Finally, electrical issues can be just as much of a concern as human error. For big jobs, trust a certified electrician and be cognizant of just how many thing you’ve plugged in and how much a source can handle.

While there is certainly a bit to keep an eye on while owning a home, it’s such a rewarding journey. And, when you’re ready to embark on that journey, the team at Arlington Realty, Inc. is ready to help.

Now on to this week’s Just Reduced figures.

As of October 5, there are 176 detached homes, 52 townhouses and 345  condos for sale throughout Arlington County. In total, 65 homes experienced a price reduction in the past week:

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.

Ask Eli: ROI On Pre-Listing Home Improvements

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: We are planning to put our townhouse on the market this spring and wondering if you have any advice on how we should choose what improvements we should or should not make prior to listing.

Answer: The decisions you make on what money you do or do not spend improving your home prior to a sale often influence your bottom line more than any other decision you make during the sale process. They’re also the decisions you’re most in control of, so take your time and take them seriously.

Remodeling.com publishes an annual report showing the resale return of specific remodeling jobs, based on region of the country. Unfortunately, I can’t share the D.C. area report here because of copyright issues, but it’s worth going to the link (you have to provide them some basic info) to take a look yourself. The findings of their report show that the majority of projects, done individually, return just 50-80% of the cost. I have seen another study by Zillow that shows similar projections.

Note that I said when “done individually” most projects return well below 100% of the money spent, but when you combine the right improvements you can create value/profit that can add to your bottom line.

Tier Your Improvements

After you prepare a full list of potential improvements, it’s important to bucket them into tiers and analyze each tier for cost, project timeline and impact on the expected resale value to determine which improvements make the most sense. At a high level, these tiers generally fall into three categories:

  • Clean-out, Clean-up: This focuses on the low cost, high return items to make a home more presentable such painting, deep cleaning, repairs, light landscaping, etc.
  • Bring up to par: Investing in one/some more expensive projects to bring them up to par with the rest of the home. For example, improving a dated kitchen if the rest of the home is updated so that the kitchen doesn’t drag down the value of the other improvements or replacing damaged hardwood floors.
  • Remodel/Homeowner Flip: Similar to what an investor might do to a dated home in an expensive neighborhood, a homeowner might choose to make a major investment into updates and benefit from a significant profit.

Consider All Costs

The cost of doing improvements goes beyond the cost of the labor and materials. Don’t forget to consider things like:

  • Your time managing the work
  • Inconvenience of having work done while you’re living in the home
  • Carrying cost while work is being done, if the home is vacant
  • Risk of something going wrong during the work (applies more to larger projects)

100%+ ROI

There’s no doubt that remodeling your bathroom will generate a higher sale price, but it’s rarely advisable to invest money into improvements if you won’t return more than 100% on the investment. Herein lies the challenge and strategy in planning your improvements. Understanding the profile of your likely buyers and what they value is crucial to making investments that generate profit, not just a higher price.

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 D.C., 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:

3629 N. Vermont Street
6 BD/7 BA, 1 half bath single-family home
Agent: Washington Fine Properties, Llc.
Listed: $3,400,000
Open: Sunday 2-4 p.m.

 

6625 24th Street N.
5 BD/3 BA,1 half bath single-family home
Agent: Long & Foster Real Estate, Inc.
Listed: $1,349,500
Open: Sunday 1-3 p.m.

 

5148 11th Street S.
6 BD, 5 BA single-family home
Agent: Samson Properties
Listed: $1,199,000
Open: Sunday 1-3 p.m.

 

2800 N. Pershing Street
4 BD/3 BA single-family home
Agent: Re/Max Executives
Listed: $959,900
Open: Sunda 2-4 p.m.

 

3617 2nd Street S.
4 BD/2 BA, 1 half bath single-family home
Agent: Img Realty, Llc.
Listed: $799,500
Open: Saturday 1-4 p.m.

 

3409 Wilson Boulevard #610
2 BD/2 BA condo
Agent: Optime Realty
Listed: $699,900
Open: Sunday 2-4 p.m.

 

3349 S. Wakefield Street B
2 BD/2 BA condo
Agent: Long & Foster Real Estate, Inc.
Listed: $599,900
Open: Sunday 1-4 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.

U.S. home ownership is on the rise — in fact it’s at the highest rate in 12 years, according to data from the U.S. Census. At about 68% this quarter, we’re only lagging the run-up of 2004-2005 by 1.5%. If the run of 2020 continues into next year, I believe we’ll set a new record.

Is it a bubble?

I’ve been hearing this question for years, and my answer continues to be a strong no, further bolstered by this year’s crazy, largely unpredictable ups and downs.

To back my opinion, let’s look back at 2004-2007… During that time period, house prices were jumping, not gradually increasing. 20% or more per year was simply unsustainable, but 4%, 5% and even 6% is sustainable. In fact, prices almost doubled from 2004-2007 on average in the U.S.

Additionally, interest rates were rising, not falling during that time period, from about 5.7% to 6.2%, significantly decreasing purchasing power. Lending restrictions are much, much tighter now than they were — despite being able to afford more home now, it is harder to qualify for a mortgage. Marginally qualified purchasers are not buying homes at near the same rate as they were, leaving less of a bottom to fall out if adverse economic or market conditions begin to occur.

All of these are reasons why the market seems to indicate more organic growth that is here to stay as opposed to a bubble about to burst. I could be wrong, but I think we’ve got at least a 12-18 month horizon of continued growth, and likely much more than that.

Okay James, enough conjecture, give us the numbers!

This past week in Arlington, sellers listed some 87 properties for sale while buyers ratified 62 contracts. 25 of the ratified contracts were on homes listed just within the past week.

There are currently 498 homes for sale in Arlington, 10 more than last week. 143 are detached homes, 48 are townhouses/semi-detached, and 307 are condos.

In 13 weeks, the number of available condos has more than doubled, from 149 to 307. This has been a developing story in the Arlington market, but it’s now an unprecedented increase. This type of movement out of higher density housing is no doubt multi-faceted but is surely linked to COVID-19. Desire to get away from daily elevator use and to have some more space, especially while working from seems to line up with so much additional availability of condos.

Average days on market (DOM) for currently available homes is 47 and median DOM is 28. The median list price of currently available properties is $624,900, while the average is $831,636. Last year for the same week, sellers listed 69 homes and buyers ratified 61 contracts.

Click here to search currently available Arlington real estate — if you see a home you’re interested in purchasing, we’d love to help!

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

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.

2020 is officially three-fourths of the way over.

For many, this may evoke an audible “PHEW! I CAN’T WAIT!” For others, it’s certainly a “where in the world did the time go?” type of moment. And, for some, it’s a great time to check in on your 2020 goals.

Without a doubt, this has been a year like no other. But, amid the global wackiness, some still have a real estate goal to punch off that checklist. For those seeking to achieve their 2020 dreams — regardless of what this year has thrown at us — there are still three whole months left in this year.

The Arlington County real estate landscape has certainly shifted a bit since the beginning of the year and now, more than ever, it’s vital to have a trusted team by your side to help you navigate it all. When you’re ready to talk through your real estate goals, the team at Arlington Realty, Inc. is ready to roll on your behalf.

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

As of September 28, there are 176 detached homes, 52 townhouses and 307 condos for sale throughout Arlington County. In total, 60 homes experienced a price reduction in the past week:

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.

Ask Eli: Condo Smoking Ban Update

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: Do you have any updates on how smoking bans are going in Arlington condo buildings?

Answer: In 2016, I wrote a column on condo smoking bans as my fellow 1800 Wilson Board members and I explored a smoking ban within our community. Since then, I’ve had the pleasure of meeting members of our condo communities that have been instrumental in clearing the path for healthier, more welcoming condo buildings by navigating the complex rules and challenges of banning smoking in condo units and on private balconies (banning smoking in common areas is easy).

The process of implementing a smoking ban is long, difficult and time-consuming for those involved, but it is possible. I’m aware of at least 10 buildings in Arlington and Alexandria that have already passed, or are in the process of passing, amendments to their by-laws to ban smoking inside units and on balconies. Some of those communities I know of off-hand are (I know I’m missing a few):

  • Hyde Park (Ballston)
  • Wentworth Place (Virginia Square)
  • Carlyle House (Columbia Pike)
  • Lyon Pointe (Lyon Village)
  • Horizon House (Pentagon City) *I believe they’re in process
  • Carlyle Towers (Alexandria)
  • The Towers (NW D.C.)

For those of you interested in pursuing a smoking ban within your condo community, I recorded the panel discussion I hosted last year and you can watch it on YouTube here. It’s a long video (almost two hours), but it provides a highly detailed roadmap and great lessons learned from members of the community who have gone through the process already.

I also have some materials from the meeting that I would be more than happy to email to anybody who wants it. Just email me at [email protected].

For those of you considering a smoking ban effort, it’s important to understand a few things before you get started:

  • It usually takes 18-24+ months
  • It requires a by-law change, which usually requires at least 2/3 “yes” votes (non-votes are the same as “no” votes)
  • Start with an informal survey of the community to see if you have enough support to reach 2/3
  • Documentation and organization are critical
  • Prepare to have an attorney involved throughout the process
  • Some communities must compromise on a Grandfather Clause in order to get the necessary votes, but Grandfather Clauses are not required

I love hearing from people in communities who are making progress towards a smoke-free building, so please reach out to share your successes and frustrations!

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 D.C., and Maryland with RLAH Real Estate, 4040 N. Fairfax Dr. #10C Arlington, VA 22203, (703) 390-9460.

Listing of the Day: 1111 19th Street N. #1706

By ARLnow.com Sponsor

Address: 1111 19th Street N. #1706
Neighborhood: Rosslyn | The Waterview
Listed: $609,900

Welcome to 1706 at the Waterview! This is a modern 1 bedroom + den in a premier building in Rosslyn.

The residence features a gourmet kitchen, hardwood floors, floor-to-ceiling windows and an open floor plan. The kitchen is outfitted with SubZero,Viking and Bosch appliances. There is a large breakfast island to go along with excellent cabinet and counter space great for entertaining.

The den is located off of the entrance and is perfect for a private home office. The den features a closet as well as a sliding accordion door if you want to turn the den into a second bedroom. Both the den and the owner’s suite feature brand new carpet.

The bedroom has floor-to-ceiling windows with city views and a walk-in closet. The Waterview community features a spectacular rooftop that has unobstructed views of D.C. The rooftop is outfitted with grills, tables, chairs and a fireplace area. Amenities also include a 24/7 front desk and a community room. Additional hotel services are available to residents including room service, spa, dry cleaning and housekeeping to truly provide for upscale living. One large parking spot conveys.

The Waterview is located in the heart of Rosslyn and offers easy access to DCA, the Metro, the Pentagon and all major commuter routes.

Contact the Orange Line Condo team or your buyer’s agent for more information or to set up a private showing.

Listed by:
Matt Leighton
Century 21 Redwood Realty
703-472-0574
[email protected]
TheMattLeighton.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:

1806 N. Danville Street
4 BD/2 BA, 1 half bath single-family home
Agent: Cottage Street Realty, Llc.
Listed: $1,625,000
Open: Saturday 1-3 p.m.

 

5012 34th Street N.
3 BD/3 BA, 1 half bath single-family home
Agent: Washington Fine Properties, Lllc.
Listed: $1,295,000
Open: Sunday 2-4 p.m.

 

2268 N. Upton Street
3 BD/2 BA single-family home
Agent: Weichert Realtors
Listed: $995,000
Open: Sunday 2-4 p.m.

 

1904 N. Johnson Street
3 BD/2 BA single-family home
Agent: Century 21 New Millennium
Listed: $865,000
Open: Sunday 2-4 p.m.

 

3601 2nd Street S.
4 BD/2 BA single-family home
Agent: Keller Williams Realty
Listed: $789,000
Open: Sunday 12-2 p.m.

 

4533 11th Street N.
2 BD.2 BA villa/townhouse
Agent: Pearson Smith Realty, Llc.
Listed: $675,000
Open: Sunday 12-2 p.m.

 

5008 9th Street S.
2 BD/2 BA villa/townhouse
Agent: Redfin Corporation
Listed: $479,900
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.

Don’t let the weather fool you, the market is still HOT!

Sure, inventory is hanging just above two months of supply, but the overall dynamic has been constant for many, many years now. It’s a strong seller’s market and by-and-large, sellers get what they are asking for when listing their home for sale.

Mortgage applications are a good barometer of where the market is headed, despite fluctuations week over week. Though down a bit for the past few weeks, they are up 6.8% this week, and up almost 50% year over year! That type of increase says there is massive unsatisfied demand for housing, and sellers should take advantage of this huge pool of buyers.

Thinking of downsizing? Downsizing can mean different things to different people. Sometimes it’s less space, sometimes it’s a move closer to the city to spend more time enjoying shopping, dining, arts, etc., late in life, and sometimes it’s a reduction in hassle and maintenance of a large home.

Consider this — rent is presently falling in many areas while housing prices continue to hit all-time highs. Transitioning to renting from owning could allow you to cash in on the highs while double-dipping into a lower monthly output and less responsibility… if something breaks, call your landlord!

This past week in Arlington, sellers listed some 97 properties for sale while buyers ratified 52 contracts. 32 of the ratified contracts were on homes listed just within the past week.

There are currently 488 homes for sale in Arlington, 44 more than last week. 148 are detached homes, 49 are townhouses/semi-detached and 291 are condos. Average days on market (DOM) for currently available homes is 48 and median DOM is 29.

The median list price of currently available properties is $635,000, while the average is $840,368. Last year for the same week, sellers listed 71 homes and buyers ratified 51 contracts.

Click here to search currently available Arlington real estate — if you see a home you’re interested in purchasing, we’d love to help!

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

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.

This week’s key figure is… 20 percent.

During the last week, we’ve seen approximately a 20 percent increase in local listings spanning single-family homes, townhouses and condominiums. Spin it however you’d like folks, but the bottom line is that there’s a lot more homes to discover in our local market if you’re looking to buy.

With the influx of inventory, it appears more and more sellers are taking competitive measures to get their homes sold. Going back to that 20 percent figure, we saw the number of Just Reduced homes jump by nearly (you guessed it) 20 percent during the last week, too.

Regardless of what your home search may comprise, now is a great time to explore and, if you’re ready to commit, negotiate. For those looking to embark on that search, the time-tested and top-notch team at Arlington Realty, Inc. is ready to advocate on your behalf.

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

As of September 21, there are 176 detached homes, 47 townhouses and 314 condos for sale throughout Arlington County. In total, 48 homes experienced a price reduction in the past week:

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.

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