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.

It takes a while for trends to become apparent in many things, and real estate is no exception. Now that we have been experiencing the impacts of COVID-19 for over a month, I’m able to start drawing some conclusions.

I’m closely watching a realtor favorite, sale price to list price ratio (SP%/LP%). For sales closed in Arlington over the last 30 days, that ratio is 101.59% meaning, on average, sellers pocketed nearly $12,000 more than they were asking (average sales price $748,421).

If we drop to 15 days of properties sold, that average goes up to 102.24% and will encompass more, but not all properties that went under contract post-COVID-19 restrictions/impact. Conclusion — by and large sellers are still getting what they want in the housing market and buyers are still having to pay up!

Many Arlington homes are still getting multiple offers, but we are seeing fewer offers in these scenarios. Homes that might have attracted 8-12 offers last spring, or even in early January or February, are mostly only getting 2-3 offers right now, and it’s still happening in the first few days of public marketing.

Of course, this does not represent all properties. Some homes don’t receive multiple offers or sell in the first week. Some take multiple price reductions in order to find the market — they were on the market, but not really in the market. This is leading to some head scratching from sellers and maybe realtors alike. Your absolute best bet, sellers, is to hire an experienced Arlington expert and follow guidance on proper pricing and presentation. These are always important considerations and even more so now as the dynamics of our market begin to shift substantially.

There are currently 239 homes for sale in Arlington (a bit over 1.25 months’ supply at current demand). 127 are detached homes, 26 are townhouses/semi-detached, and 86 are condos. Average days on market (DOM) is 55 and median DOM is 31. These stayed almost constant from last week.

Sellers listed some 60 properties for sale this week, up from 44 last week! Buyers ratified 45 contracts, 25 of which were homes that had been on the market one week or less. Average DOM of the ratified properties this week is 13, median is 11, furthering my point about being left on the market instead of in it.

The median list price of available properties is $­­­1,022,500, while the average is $1,154,701.

Last year for the same week, sellers listed 84 homes and buyers ratified 64 contracts. Though the volume is down right now, the absorption rate of new properties is remarkably similar. The supply/demand characteristics are very similar — sellers, make no mistake, this is still very much a seller’s market!

Click here to search currently available Arlington real estate. 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.

A happy Earth Day to our readers here. It’s certainly a bit of a different Earth Day here in 2020.

No, we’re not going to encourage you to go celebrate our green and blue planet in masses out in public. But there are a couple of things on the real estate front that you can do from your own home to make a difference.

The first thing is examining how you can make your home more energy efficient. Whether it’s upgrading your old HVAC set-up or giving your insulation a refresh, these fixes not only protect Mother Nature, but put dough back in your pocket. And, in many cases, these upgrades can be tax deductible.

Also, as you weather the COVID-19 storm, it’s a good time to think about your property’s curb appeal. If you have the green light to plant a tree where you live, they give off oxygen and a little extra never hurts us humans.

And now on to this week’s Just Reduced facts and stats.

As of April 20, there are 148 detached homes, 30 townhouses and 88 condos for sale throughout Arlington County. In total, 9 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: Landscaping to Improve At-Home Living

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 want to make our time at home more enjoyable by improving our outdoor space. What are some of the most common landscape/hardscape improvements you see in Arlington?

Answer: After six weeks in a row of Coronavirus market analysis/updates, I thought it would be a nice change of pace to talk about some ways you can improve your outdoor space to make staying at home more enjoyable. A nicely landscaped yard can also provide a strong return on resale, especially while stay-at-home orders are fresh in buyers’ minds.

To provide the best perspective on popular landscaping projects around Arlington, I asked Robert Groff of Groff Landscape Design, an Arlington-based landscape and hardscape firm, to share some of the most popular projects they do.

Thank you for sharing your insights Robert, take it away…

Thank you Eli and hello ARLnow. If all of this time at home has inspired you to invest in your outdoor space, I hope some of these projects are an inspiration.

April Showers Bring…Wet Basements and Mosquitos

We’ve all been reminded lately to be prepared for possible threats. Now is the time to make sure rainwater is directed away from your home foundation and mosquito breeding grounds (standing water) are minimized.

Create Family Experiences

Patios — Patios are not only for dining and grilling anymore. Patio activities can include yoga, outdoor office, study space, play space or even an outdoor movie theatre! With infinite amounts of material options here are our top recommendations:

  • Least Expensive: Concrete Slab. In our region, concrete cracks but when necessary it absolutely has its place.
  • Most Dynamic & Most Popular: Concrete Pavers. We highly recommend Techo-bloc manufactured materials because of their lifetime warranty, density rating and wide range of colors, textures and styles.
  • Favorite for Contemporary Style: Porcelain Tile for Exterior Use.
  • Natural Stone: Flagstone is still extremely popular especially for our traditionalists!

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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:

3081 N. Pollard Street
6 BD/5 BA, 1 half bath single-family home
Agent: Ttr Sotheby’s International Realty
Listed: $2,250,000
Open: Sunday 1-2 p.m.

 

3818 N. Randolph Court
5 BD/5 BA, 2 half bath villa/townhouse
Agent: McEnearney Associates, Inc
Listed: $1,750,000
Open: Virtual Tour/Sunday 2;30-3 p.m.

 

5012 22nd Street N.
4 BD/3 BA, 1 half bath single-family home
Agent: Optime Realty
Listed: $1,100,000
Open: Virtual Tour/Sunday 2-4 p.m.

 

1314 S. Glebe Road
3 BD/3 BA, 1 half bath single-family home
Agent: Re/Max Allegiance
Listed: $925,000
Open: Sunday 1-2:30 p.m.

 

2001 15th Street N. #1114
2 BD/2 BA condo
Agent: Optime Realty
Listed: $775,000
Open: Virtual Tour/Sunday 2-4 p.m.

 

2829 S. Buchanan Street A2
2 BD/2 BA condo
Agent: Ttr Sotheby’s International Realty
Listed: $549,900
Open: Sunday 2-2:30 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.

Alarm bells are ringing across the country — we’re hearing about new construction declining over 20% which represents the biggest monthly decline since 1984.

This is not representative of Arlington’s housing market, however. Transactional volume is down, but the transactions that are occurring are reminiscent of pre COVID-19 times. Abundant showings during the first few days of marketing, resulting in one or more offers for new properties and almost half of the new inventory being absorbed in the first seven days. Most of the homes that don’t sell the first week will sell the second week of marketing.

Companies that support and play an integral role in the real estate industry are getting creative to keep clients and staff safe, and I experienced a first this week — a “curbside settlement.”

KVS Title with many D.C. area locations was up to the challenge. Attorney Joe Moreno, located in KVS’ Arlington office, met us outside, wearing his own PPE and handed us a package through our car window. He stood outside a safe distance away, able to answer questions as we worked through the medium stack of seller-side settlement paperwork. We kept the pen, handed the paperwork back and, voila, settlement complete without stepping foot in an office building!

PICK OF THE WEEK — The Andors Real Estate Group is proud to have Just Listed 2524 S. Fort Scott Drive, Arlington, Virginia 22202 — $995,000. This is a rare opportunity to own a 4 bedroom, 3 bathroom brick Cape Cod on coveted Fort Scott Drive. This lovely home is sited up from the street and has an oversized lot, almost 10,000SF. Call me for an appropriately social-distanced tour — (703) 203-1117.

There are currently 232 homes for sale in Arlington. 131 are detached homes, 25 are townhouses/semi-detached, and 76 are condos. Average days on market (DOM) is 55, though median DOM is 29. Both of these numbers crept up from last week, from 51 and 21, respectively. The average days on market this week last year was just 19 days!

Sellers listed some 44 properties for sale this week, down from 60 last week. Buyers ratified 39 contracts, 19 of which were homes that had been on the market one week or less. The median list price of available properties is $­­­1,020,000, while the average is $1,172,599.

Last year for the same week, sellers listed 88 homes and buyers ratified 76 contracts. Those numbers are about double what we’re seeing for this week.

Click here to search currently available Arlington real estate. 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.

Listing of the Day: 1563 N. Colonial Terrace, Unit 201

By ARLnow.com Sponsor

Address: 1563 N. Colonial Terrace, Unit 201
Neighborhood: Rosslyn | Georgetown Vista
Listed: $409,900
Open: Virtually Open

Welcome to Georgetown Vista unit 201 located in the heart of Rosslyn. This 2 bedroom, 1 bath is arguably one of the best values in Arlington with 750 square feet of living space.

Enter into the living room with refinished wood floors that flow to the dining room. Sliding glass doors open to a balcony with views of Georgetown. The kitchen was renovated in 2014 with high gloss white cabinets and Fisher & Paykel stainless steel appliances. The bathroom was renovated in 2019 with gray subway tiles, a new tub, a new vanity with a marble countertop and “distressed wood” ceramic tile floors. The windows and sliding glass doors were replaced in 2014.

The unit comes with 1 parking permit with a second spot available and an extra storage cage. Georgetown Vista has an enviable location just steps to the Rosslyn Metro, the Key Bridge, Georgetown and so much more!

Listed by:
Shawn Battle
Orange Line Condo | Century 21 Redwood Realty
703-999-8108
[email protected]
OrangeLineCondo.com

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.

Haven’t seen your dream property pop up on our Just Reduced list?

A proactively reduced price shouldn’t deter your aspirations and goals. In many cases, sellers are willing to negotiate on price, even if they aren’t the ones making the first move publicly.

And, in some cases, sellers are willing to budge even more (sometimes much more) from a Just Reduced price to make a sale happen.

The keys of any successful transaction, in terms of getting the most bang for your buck, include strong negotiating skills and a knowledge of the local landscape.

Amid these unprecedented times and a truly unique real estate market, it’s never been more important to have a trusted team by your side to help navigate it all. Equipped with the right tools and expertise, you just may be able to achieve what you once thought wasn’t possible.

When you’re ready to chat, the team at Arlington Realty, Inc. is open ears. And now on to this week’s figures.

As of April 13, there are 147 detached homes, 27 townhouses and 80 condos for sale throughout Arlington County. In total, 13 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: Impact of Coronavirus on the Real Estate Market, Part 6

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 has been the impact of the Coronavirus/COVID-19 on the real estate market?

Answer: In this week’s review of how the COVID-19 pandemic is impacting real estate, we’ll take a look at how Arlingtonians think Coronavirus will change their personal finances, how the Arlington market performed over the last seven days, and how the virus is changing the mortgage industry.

Arlingtonians Still Confident

Thank you to everybody who participated in the poll last week, we collected some really valuable information about how Arlingtonians think the virus will impact their personal finances.

Out of 1,055 respondents, 50% feel that their personal finances will either not be negatively impacted or that the impact won’t last more than six months. Over 70% of respondents don’t expect the negative effects to last more than 12 months.

These results reflect a strong local consumer (buyer) confidence and would suggest that local buyers still have enough confidence in their finances/income to make a long-term investment, like buying a home. When you consider the recent McKinsey study (below) on the most vulnerable jobs, you can see why Arlingtonians, many of whom make over $70k/year, remain confident in the face of a global economic crisis. Income/job security is likely the most important consideration for people determining what the negative impact of COVID-19 will be on their personal finances.

Arlington Market Update

New inventory tanked over the past week and we saw the largest week-to-week drop in the number of properties that went under contract. It’s hard to say for sure whether the decline in contract activity is demand-based on a result of less inventory, but it’s likely a combination of the two.

With very little new inventory coming to market and the Coming Soon pipeline drying up, total inventory is dropping quickly, which should keep home values relatively protected, despite declining demand.

Past Seven Days (Arlington)

Seven Days Prior

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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:

3465 N. Emerson Street
6 BD/5 BA, 1 half bath single-family home
Agent: McEnearney Associates, Inc
Listed: $1,995,000
Open: Virtual Tour/Saturday 1-2 p.m.

 

1201 N. Nash Street #302
2 BD/2 BA, 1 half bath condo
Agent: Re/Max Distinctive Real Estate Inc
Listed: $1,499,000
Open: Virtual Tour/Saturday 1-2:30 p.m.

 

1565 21st Court N.
3 BD/3 BA, 2 half bath villa/townhouse
Agent: Keller Williams Capital Properties
Listed: $1,025,000
Open: Virtual Tour/Sunday 1-4 p.m.

 

2504 4th Street N.
3 BD/2 BA single-family home
Agent: D.S.A. Properties & Investments Llc
Listed: $799,900
Open: Sunday 1-4 p.m.

 

1321 N. Adams Court #308
2 BD/1 BA condo
Agent: McEnearney Associates, Inc
Listed: $599,000
Open: Virtual Tour/Saturday 12-1 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.

Despite the gorgeous, warm weather, things have cooled off a bit this spring in the housing market.

This spring in Arlington is a bit more subdued than last year and years prior — no surprise considering a stay at home order. By no means, however, has the Arlington market to come to a halt. You may have heard showings are down — this is true.

That means buyers look at fewer homes before they actually buy, and that casual “lookie-loos” have probably stopped for the time being. You may also see real estate signs in yards for longer — another product of fewer showings and fewer ratified contracts.

As things cool off, just a bit, inventory is starting to creep upward. With this week’s numbers, we now have 1.57 months of inventory — about double from the lows of early February but still way below the national average. Not to worry sellers, that number would need to quadruple before the market was considered to be in equilibrium — something Arlington hasn’t seen in over a decade.

A lot of conversations are centered on the thought that prices in Arlington will go down. I do not believe this to be likely at all. Sellers are holding off on listing their homes and this will actually keep prices steady — supply would need to increase substantially in order to be in line with, or even outpace, demand.

If that happens, then one could reasonably expect prices to be either holding steady or declining slightly. Unlike the stock market, this does not happen overnight, or even in the period of a few weeks — it’s a gradual trend over the course of months and even years.

There are currently 239 homes for sale in Arlington (204 last week). 128 are detached homes, 26 are townhouses/semi-detached and 76 are condos. Average days on market (DOM) is 51, though median DOM (a much more reliable measure for this data set) is only 23.

Sellers listed some 60 properties for sale this week, one more than last week. Buyers ratified 38 contracts, 25 of which were homes that had been on the market one week or less. Activity this week is down on both the supply and demand sides of the equation.

The median list price of available properties is $­­­1,009,998, while the average is $1,153,264. Last year for the same week, sellers listed 75 homes and buyers ratified 54 contracts.

Click here to search currently available Arlington real estate. 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.

These are uncertain times and we’re starting to see volatility in many aspects of our lives.

The stock market, oil prices and several financial indicators have all endured their own forms of roller coasters in recent weeks.

In our own little nook of the online world, our Just Reduced numbers have spiked big-time in the past week, more than doubling to 20-plus reduced-price homes in Arlington County alone.

Could this be a sign of even more uncertain times ahead? Is it now a buyer’s market, given sellers appear more willing to budge up front and, perhaps, down the line?

What about for sellers? Is now the time for a stellar bargain? Folks have questions aplenty right now and we certainly don’t blame them.

As we have been there for our clients throughout the decades, we know that each unique real estate scenario is different. When you’re ready to talk about your situation and what may be ahead, the team from Arlington Realty, Inc. is ready to roll.

As of April 6, there are 137 detached homes, 25 townhouses and 82 condos for sale throughout Arlington County. In total, 21 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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