real estate

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 licensed broker Aaron Seekford of Arlington Realty, Inc. GET MORE out of your real estate investment with Aaron and his team by visiting www.arlingtonrealtyinc.com or calling 703-836-6116 today!

Please note: While Aaron Seekford provides this information for the community, he may not be the listing agent of these homes.

We hope everyone is enjoying these beautiful fall days.

With high temps in the mid- to upper-60s forecasted through next week and foliage hitting near-peak, this is the time of year many of us wish would last forever. Unfortunately, Old Man Winter and his frigid temps (and perhaps an onslaught of snow?) will be here before we know it. And, we should all be getting ready.

Among your fall to winter transition list in Arlington County, take a look at your window and door sealings. When it’s time to crank the heat, you won’t want heat (and money!) seeping out of your home.

Additionally, give those gutters a look. Sure, some leaves are still clinging to our trees. But, once they’ve all fallen, you’ll likely find a good chunk of them in your gutters. Snow and ice on top of whatever is already there can equal a potentially hazardous disaster, so now is the time to clean them out.

In addition to many of our team members calling Arlington home for generations, Arlington Realty, Inc. has been serving locals since 1984. Whether it’s the seasons or your real estate transaction, we’re ready to help you weather (pun intended) any scenario.

As of October 21, there are 162 detached homes, 22 townhouses and 103 condos for sale throughout Arlington County. In total, 28 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 Aaron Seekford.

Ask Eli: Major Changes To Pre/Off-Market Property Marketing

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!

This past week, Bright MLS announced major changes to prevent agents and brokerages from marketing properties for sale that are not entered into the MLS.

Previously, there were no restrictions on where and how long a property could be marketed to the public and/or other agents if it was not in the MLS. Effective immediately, a property must be entered into the MLS within one business day of any marketing (some exceptions apply). Violators will be fined up to $5,000 per violation.

Initially it might seem like this rule is unnecessarily restrictive and hurts consumers, but I strongly believe it is a net benefit for the marketplace.

What is MLS?

MLSs (Multiple Listing Services) are the organizations that allow agents and consumers to see all properties for sale in one place; the database of record that powers your favorite property search apps/websites. They are private entities born from the cooperation of regional brokerages, funded through brokerage and agent fees. There are around 600 regional MLSs across the country.

What is Bright MLS?

Bright is the name of our local MLS and is the largest in the country. It is responsible for property listings in all of D.C., MD,and DE, most of VA and PA and some of NJ and WV.

How it Benefits You

This type of regional cooperation between brokerages means that buyers have access to every home for sale in one centralized location, thus increasing the odds of finding the right home, and sellers can ensure their home is visible to every buyer, thus increasing the odds of their home selling for full market value.

A market without an MLS is fragmented, inefficient and not in the best interest of consumers.

New Pre/Off-Market Policy Change is Necessary

Over the last few years, in an effort to distinguish themselves from competition, brokerages and agents were engaged in a fierce competition to establish an inventory of pre/off-market properties marketed through independent websites, portals and social media channels. The idea was that if an agent or brokerage has a large inventory of off-MLS properties, in addition to access to all on-MLS properties, they’d be able to attract more clients.

These efforts led to fragmented “shadow markets” across the region, making it impossible for buyers to access all properties for sale and potentially limiting a seller’s market exposure. The Bright MLS Board, made up of brokers from across the region, recognized this problem and unanimously determined that changes were needed to secure the enormous benefits of cooperation.

The new rules still allow intra-brokerage marketing of off-market properties and agents to have one-off conversations with other agents and/or buyers about off-market properties, but agents/brokers cannot engage in public or inter-brokerage marketing.

What to Expect

Going forward, you should no longer find a property being marketed for sale or coming up for sale that is not entered in the MLS and widely available across all/most consumer-facing property search websites/apps. This includes social media, even Instagram and Facebook Stories.

One caveat is that not every consumer-facing property search website/app picks up properties entered into the MLS with a Coming Soon status. Bright MLS allows properties to be entered as Coming Soon for up to 21 days.

(more…)

New Homes in Arlington: October 18

By ARLnow.com Sponsor

Welcome to New Homes, a biweekly column highlighting the new construction real estate market, written by Conor Sullivan and Dave Moya of Three Stones Residential at Keller Williams Realty. We are here to share our experience and expertise in lot acquisition, financing and construction of custom homes. 

Who Can You Trust When Building a New Home?

New construction is a fun process, but it can be a more complicated and stressful journey than buying a typical resale home. For this reason, we recommend following these three steps to make your experience a bit more smooth and enjoyable.

Find the Right Builder — When deciding on which builder you are going to work with, there are a variety of things to consider during the selection process. You’ll want to make sure the builder has a range of layout options to select from since the lot will determine what you can do with the space. It is also smart to see how many Non-Standard Options (NSO) the Builder offers. If these NSOs are limited, it may mean you aren’t able to do as much “customization” as you originally planned, and rather are required to make selections from pre-determined materials the builder has already selected for a broader scope of projects.

Have a Design Plan — Know what you want your home to look like and what features you want to have at the beginning. It is important to make these decisions up front when going through the design process as making these changes during construction can not only cause delays, but cost you big bucks.

Agent Advisor Partnership — Working with an experienced agent as your advisor is critical throughout the entire process. Your advisor can help find the lot for the best price, select the right builder for you and avoid pitfalls that can come with the building and designing process. Your advisor should have experience working with new construction homes and a strong understanding of builder contracts so they can help navigate you to get what you want.

At Three Stones Residential, our agents are well versed in the new construction process. We’ve worked with a number of builders and can help you decide who may be the best fit based on your needs and expectations. Being natives to the area, we are local marketplace experts and will guide you in finding the best location for your new home at the best price.

Additionally, we have a solid understanding and experience of builder contracts and will bring to light all the details you need to focus on to avoid delays and additional costs down the road. To learn more about new construction homes, contact us at [email protected] or (571) 429-7670.

Below is a list of new homes currently on the market in the Arlington areas.

Want to learn more about financing a New Home build? McLean Mortgage (NMLS ID: 99665) can handle all of your construction financing needs. You can build your new home with as little as 5% down. Contact construction loan expert Troy Toureau (NMLS ID: 5618) at 301-440-4261 or AnyHomeLoans.com to learn more.

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:

3323 N. Vermont Street
5 BD/4 BA, 1 half bath single-family home
Agent: Ttr Sotheby’s International Realty
Listed: $1,649,000
Open: Sunday 2-4 p.m.

 

4647 3rd Street S.
5 BD/4 BA, 1 half bath single-family home
Agent: Re/Max Allegiance
Listed: $1,099,00
Open: Sunday 1-4 p.m.

 

2086 N. Oakland Street
3 BD/2 BA, 1 half bath villa/townhouse
Agent: Re/Max Allegiance
Listed: $919,900
Open: Sunday 2-4 p.m.

 

3800 Fairfax Drive #302
3 BD/2 BA condo
Agent: Keler Williams Realty
Listed: $824,000
Open: Sunday 1-4 p.m.

 

1943 N. Cleveland Street
3 BD/1 BA single-family home
Agent: Redfin Corporation
Listed: $709,900
Open: Sunday 1-4 p.m.

 

4658 34th Street S.
2 BD/2 BA condo
Agent: Samson Properties
Listed: $599,900
Open: Sunday 12-3 p.m.

 

1800 Wilson Boulevard #426
1 BD/1 BA condo
Agent: Compass
Listed: $455,000
Open: Saturday 1-3 p.m.

Morning Notes

By ARLnow.com

Heavy Seas Alehouse to Close — “Heavy Seas Alehouse, the restaurant affiliated with the Baltimore-area brewery, will close its doors in Rosslyn by the end of October, one of its principals said Thursday. The restaurant plans to close Oct. 27, said Mike Morris, a partner in Monogram Hospitality, which operates Heavy Seas Alehouse.” [Washington Business Journal]

Real Estate Costs Going Down? — “In every major jurisdiction of the local area, the median per-square-foot price for housing for the January-through-September period declined, in many cases by double digits, according to new figures reported Oct. 11… Arlington led all local jurisdictions for the nine-month period, but its median per-square-foot cost of $436 was down 6.8 percent from $468.” [InsideNova]

Kaine to Talk Vaping at Arlington School — “On Friday, October 18, U.S. Senator Tim Kaine will hold a roundtable discussion on efforts to address the epidemic of youth e-cigarette use. The discussion at Montessori Public School of Arlington will include students, teachers, counselors, parents, health experts, and Virginia Secretary of Education Atif Qarni.” [Press Release]

Road Closures for Festival in Shirlington — “The Shirlington Shucktoberfest, sponsored by the Copperwood Tavern, will take place on Saturday, October 19, 2019 from 11:00 a.m. until 5:00 p.m.  Set up will begin at approximately 6:00 a.m. and cleanup should be completed by 7:00 p.m. The Arlington County Police Department will conduct the following road closures…” [Arlington County]

Arlington Woman’s Alleged Killer Charged — “The killer of Pamela Butler, a Washington, D.C., federal worker who disappeared before Valentine’s Day in 2009, has been charged in the 1989 death of his wife. Marta Haydee Rodriguez-Cruz disappeared from Arlington, Virginia, in 1989. Her remains were found along Interstate 95 in Stafford County in 1991 but weren’t positively identified until 2018. Her husband, Jose Angel Rodriguez-Cruz, also dated Butler for a time.” [NBC 4]

Arlington Man Convicted in Child Sex Sting — “An Arlington man is among more than 300 people arrested worldwide in connection with a website that authorities describe as the largest child sexual exploitation operation of its kind ever discovered in terms of the volume of content. Ammar Atef H. Alahdali, 22, pleaded guilty in the Eastern District of Virginia to receipt of child pornography and was sentenced to serve five years in prison and ordered to pay $3,000 in restitution.” [Patch]

Nearby: Birding Store Near Fairlington Closing — “After 33 years, birding and nature store One Good Tern (1710 Fern Street) near Fairlington is closing as longtime owner Charles Studholme faces a grim kidney failure diagnosis.” [ALXnow]

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 Team Cathell, “Your Orange Line Specialists.”

Even though we started the week with a travel holiday weekend, buyers really picked up the pace and were busy ratifying 60 contracts. That’s a big boost from last week’s sleepy results of just 45 homes sold.

And sellers did their part by listing 65 homes. Arlington still has a major shortage of inventory, as does most of the country. Arlington currently has only 1.1 months of inventory, not a good situation for buyers.

Mortgage rates started creeping upward last Friday and now are at 3.75% for a 30-yr fixed rate. Mortgage refinance applications increased 4% this week as owners are trying to lock in rates before they increase further. But mortgage purchase applications were down 4% due to short term economic uncertainty and lack of inventory.

A troubling retail sales report released Wednesday showed that consumer spending in September was down for the first time in seven months. The unexpected results indicated sales were down on automobiles, online purchases and building materials raising fears that the decline in the manufacturing sector could be spilling into the broader U.S. economy.

Click to see all the fresh new inventory in MRIS and call Team Cathell (703-975-2500) when you find a home you like.

Morning Notes

By ARLnow.com

Arlington Rooftop Bar Reopens — After being shut down by county building inspectors, Arlington Rooftop Bar and Grill in Courthouse reopened Tuesday evening, just in time to watch the Nationals sweep the Cardinals in Game 4 of the NLDS, to advance to the first World Series in D.C. since 1933. [Twitter]

Housing Still Hot Near HQ2 — “The median sale price for all home types in the 22202 [zip code, which includes the Pentagon City and Crystal City area] jumped nearly 40% in September compared with the same time last year, reaching $685,000… That makes it nine straight months of home price appreciation for the 22202 area. Arlington County as a whole saw a modest 12% year-to-date increase, $590,000 for all home types.” [Washington Business Journal]

Retail Job Fair Next Week — “Fashion Centre at Pentagon City, Washington D.C.’s international shopping destination, invites job seekers to attend its Retailer Job Fair on Tuesday, October 22. From 11 a.m.-7 p.m., candidates can visit the Metro and First Levels to pick up applications, meet with store representatives and apply onsite.” [Press Release]

DCA Fee to Help Pay for Expansion Project — “Project Journey, the Metropolitan Washington Airports Authority’s $1 billion capital improvement effort well underway at Reagan National Airport, will be paid for in part by airline passengers. At its meeting Wednesday, the MWAA board will be asked to approve the submission of a new Passenger Facility Charge application… The $4.50 fee is collected by airlines as part of their airfare and remitted to the airport of origin.” [Washington Business Journal]

Caps Dogs Star in Arlington Photoshoot — “In the 2020 Capitals Canine Calendar, you will see 12 months of Washington ice hockey players posing with dogs of all sizes, ages and bark levels… There was plenty of four-legged mischief during the October shoot at the MedStar Capitals Iceplex in Arlington.” [Washington Post, Twitter]

Nearby: New Restaurant in Arlandria — “The new Taqueria Senora Lola is now open at 3901 Mount Vernon Avenue in Arlandria. Owner Oswaldo Salinas said the restaurant — adjacent to Salinas’ other eatery, Lilian’s Restaurant, opened two weeks ago and had a grand opening event this past Saturday.” [ALXnow]

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 licensed broker Aaron Seekford of Arlington Realty, Inc. GET MORE out of your real estate investment with Aaron and his team by visiting www.arlingtonrealtyinc.com or calling 703-836-6116 today!

Please note: While Aaron Seekford provides this information for the community, he may not be the listing agent of these homes.

Hot, hot, hot! Whether you live here or want to, you’re bound to hear about just how darn sizzlin’ Arlington County’s real estate market is right now.

Amid the factors, one of the key drivers in pushing prices and demand up is… INVENTORY! As of today, according to BrightMLS, there are 286 total homes for sale in Arlington County. Looking at our Just Reduced column from four years ago (yes, we go way back with this column!), there were 574 total homes for sale.

So, doing some math here, we’ve seen a 50 percent-plus reduction in inventory in a four-year span, let alone the other stats and facts you can pull out there. That’s pretty incredible.

On the seller’s front, now is an incredibly powerful time for you. The options in Arlington County are limited and you can certainly leverage the situation. On the buyer’s front, it’s never been more important to have a seasoned team by your side to navigate the competitive market.

Regardless of which side of the transaction you may fall, the team at Arlington Realty, Inc. is ready to advocate on your behalf and get the most bang for your buck.

As of October 14, there are 150 detached homes, 26 townhouses and 106 condos for sale throughout Arlington County. In total, 23 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 Aaron Seekford.

Ask Eli: Arlington Loan Programs

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: Are there any loan programs available to people buying a home in Arlington?

Answer: October is Housing Month in Arlington which means some nice County programs including the annual Live In Arlington Info Fair which provides a ton of great information and education on fair and affordable housing in the County.

To support affordable housing, Arlington offers four programs for moderate-income homebuyers that I’ll highlight below.

Most Popular: Virginia Housing Development Authority (VHDA) Community Homeownership Revitalization Program (CHRP)

  • Reduces your interest rate on a VHDA loan by 1%
  • Household income must be 120% or less of the Area Median Income (AMI)
  • Purchase must be in one of three Arlington County zip codes: 22203, 22204, 22206
  • Must be a first-time homebuyer
  • Can be combined with other programs
  • Programs ends when funds run out each year. $5M was allocated in 2019 and ran out in September. Program will begin again in 2020 with new funding.

Most Unique: Moderate Income Purchase Assistance Program (MIPAP)

  • Interest-free loan up to 25% of the purchase price to cover down payments, closing costs, rate buy-downs, etc.
  • Owner pays back loan, interest-free, plus 25% of equity at time of a sale or refinance. If no equity or negative equity, only the original loan is due. This incentivizes owners to refinance once they can afford the home on their own and recycle the funds back to the County to expand the program.
  • MIPAP has only been used about ten times in the last two years, representing 50% of the program’s applicants
  • Household income must be 80% or less of the Area Median Income (AMI) and other loan/credit limits exist
  • Must be a first-time homebuyer or no interest in property within the last three year

Live Where You Work: Arlington County Employee Program (LINK)

  • Forgivable loan for Arlington County employees up to $6,600 (FY2020), becomes a grant after three years and does not have to be paid back
  • Can be used for down payment and/or closing costs and combined with other programs
  • No income limits or other restrictions
  • Also meant for teachers, but currently no budget allocated to it in FY20

Reduced Rate Homeownership: Affordable Dwelling Units (ADUs)

  • Housing units required to maintain specific reduced-price levels based on affordability standards for moderate income buyers
  • Buyers must register to qualify for ADUs and, once registered, will be notified when ADUs come up for sale. If multiple buyers are interested in purchasing an available ADU, there is a priority drawing.
  • Developers can include ADUs in new construction as a community benefit. Recent examples include Key & Nash (four two-bedrooms) in Rosslyn and Carver Place (six three-bedrooms) off Columbia Pike (Pike East)
  • Resale properties are periodically for sale, but there are none currently
  • Arlington currently has 55 ADUs in its portfolio
  • Arlington lender requirements mean buyers have access to a limited set of lenders and should inquire with their lender if they meet the portfolio requirements

If you have questions about any of these programs or would like to explore how they fit into your purchase strategy, feel free to email 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 Real Living At Home, 2420 Wilson Blvd #101 Arlington, VA 22201, (202) 518-8781.

Morning Notes

By ARLnow.com

Cards Coach Has Good Day in Arlington, At Least — “Cardinals pitching coach Mike Maddux hit not one, but two holes-in-one during a morning round of golf at the Army Navy Country Club, manager Mike Shildt revealed to reporters on Monday. The country club later confirmed the achievement to ESPN’s Alden Gonzalez.” [Yahoo]

Real Estate Market Awash in HQ2 Hype — “As of the first week of October, there were nearly 70 active listings for single-family detached homes in Greater Washington that mentioned Amazon’s HQ2 in their description… The median driving distance for the homes was about 7.4 miles.” [Washington Business Journal]

County to Sponsor Marine Corps Marathon Again — “Arlington County Board members on Oct. 19 are expected to ratify a sponsorship agreement for the Marine Corps Marathon, and allocate $85,000 in funding. The marathon, to be held this year on Oct. 27, is ‘the largest annual event held in Arlington, driving significant spending at local businesses and generating related tax revenues for the county.'” [InsideNova]

Video Shows Cars Stopped in Bike Lane — A video posted to Twitter shows numerous cars stopped, blocking the bike lane along Crystal Drive in Crystal City. In addition to voicing frustration about the blocked bike lane, the video poster wrote: “why are all these drivers doing pickups, dash-ins, etc, not given space, in favor of people street-parking adjacent to a huuuuge underground garage?” [Twitter]

No In-School Flu Vaccines This Year — “Arlington Public Schools students will not have access to free, in-school flu vaccinations this fall, county school officials said. Last school year, the school system partnered with Healthy Schools (CareDox) to offer the in-school service.” [InsideNova]

WeWork Phone Booths Emitting Fumes — “Colleen Wong, a director with the Global Entrepreneurship Network, said she noticed a pungent smell in the phone booths at WeWork’s Rosslyn location in Arlington, Virginia, where she’s a tenant. ‘I always noticed, from the first time I entered a phone booth, a strong chemical odor,’ Wong told Business Insider.” [Entrepreneur]

Reminder: Voter Registration Deadline Is Today — “The Voter Registration Deadline for the November 5, 2019 General Election is… Tues. Oct 15.” [Twitter]

Flickr pool photo by Tom Mockler

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:

4531 40th Street N.
6 BD/6 BA, 2 half bath single-family home
Agent: Right Address Realty
Listed: $2,495,000
Open: Sunday 2-4 p.m.

 

938 N. Danville Street
4 BD/3 BA, 1 half bath single-family home
Agent: Keller Williams Capital Properties
Listed: $1,299,000
Open: Saturday 2-4 p.m.

 

4812 14th Street S.
3 BD/4 BA, 1 half bath single-family home
Agent: Weichert Realtors
Listed: $899,000
Open: Sunday 2-4 p.m.

 

3149 14th Street S.
3 BD/2 BA, 1 half bath villa/townhouse
Agent: Fass Results, Llc
Listed: $725,000
Open: Sunday 2-4 p.m.

 

851 N. Glebe Road #204
2 BD/2 BA condo
Agent: Samson Properties
Listed: $678,000
Open: Sunday 12-2 p.m.

 

820 N. Pollard Street #710
1 BD/1 BA condo
Agent: Century 21 Redwood Realty
Listed: $459,900
Open: Sunday 1-4 p.m.

 

4659 28th Road S., A
2 BD/1 BA condo
Agent: McEnearney Associates, Inc
Listed: $365,000
Open: Saturday 2-4 p.m.

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