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 Team Cathell, “Your Orange Line Specialists.”

Arlington’s real estate Spring market is rockin’ and rollin’.

Sellers really stepped up this week and listed 68 homes while buyers ratified 51 contracts. This ratio helps our problem of low inventory but with only 204 homes actively for sale and at the rate of absorption that’s only one month of inventory.

The craziest story heard this week was a nice Cape Cod on S. 4th Street nicely updated and priced at $765,000. It received 30 offers.

How can a buyer compete in this environment? First, get fully approved for your loan. Second, look at homes priced well under your maximum ability so that you give yourself room to escalate upward. Work with a highly trained and experienced agent.

Go BIG on price and remove as many conditions as possible. Ask the sellers what they need and want, and then deliver. Remember, each time you lose, that home becomes the next comp and you get farther behind. Get out ahead of the market just once by going big, and in six months you’ll look like a genius.

Call Team Cathell for a free consultation.

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

Listing of the Day: 1610 N. Queen Street #231

By ARLnow.com Sponsor
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Address: 1610 N. Queen Street
Neighborhood: Gaslight Square
Listed: $1,450,000

One of the rarely available 2 bedroom loft homes!

1610 N. Queen St. #231 is in building 2 of Gaslight Square, nestled in the middle of a community with natural sound buffering. This home offers 2,059 square feet of luxury living with 1,600 interior and 459 outdoor space. Open volumetric floor plan with 9-18 ft. ceilings.

Abundant natural light. Hardwood floors throughout main and upper level. Gourmet kitchen featuring Wolf-Subzero and Energy Star appliances. Two bedrooms, master with walk-in closet, luxury bath and access to 9×18 patio. Main level powder room. Energy Star washer and dryer in condo. Two Reserved parking spaces in underground garage with additional storage cabinets, just steps from kitchen door.

Two private terraces perfect for entertaining, one off of master bedroom and one off of main level great room. Gaslight Square is located between Rosslyn and Court House Metro Stations on Clarendon Blvd.

Perfectly situated, Gaslight Square is close to Metro, nearby restaurants and shops, plus all amenities of Georgetown and the Rosslyn-Ballston Corridor. To view the virtual tour and video walk through please visit: www.1610NQueenSt231.com.

Listed by:
Matthew Shepard
Keller Williams Metro Center
703.403.4003
[email protected]
www.shepardfong.com

Morning Notes

By ARLnow.com

Amazon HQ2 Update — “JBG Smith Properties has begun design and pre-development on the first installment of Amazon.com Inc.’s new headquarters buildings in Arlington County, with the aim of starting construction on HQ2’s initial 2 million square feet of office space ‘within the next year.'” [Washington Business Journal]

Mosaic Park Contract Approved — “The Arlington County Board today approved a contract for slightly more than $6.08 million with Nastos Construction Inc. to build a new Mosaic Park in the heart of Ballston.” [Arlington County]

Amazon Spurs on Real Estate Investors — “After real estate agents reported ‘packs of investors’ at open houses in Virginia’s Arlington and Alexandria in December, the number of houses and condos on the market has been seriously depleted.” [WTOP]

Eden Center’s Past and Present — “The opening of the Clarendon Metro station in December 1979, made it far easier to get to Little Saigon. This wasn’t good news for everyone… Rents went up and shops closed. Luckily, only about three and a half miles down Wilson Boulevard, Eden Center was taking shape.” [DCist]

Clarendon Crash Causes Traffic Woes — Updated at 9 a.m. — A crash at the intersection of Wilson Blvd and 10th Street N. closed westbound 10th Street and blocked a lane of Wilson Blvd in each directions during the morning rush hour, leading to traffic congestion around the area. [Twitter]

We’re Seeking Story Pitches — Do you have an interesting, important and original story to tell about Arlington? Thanks to our Patreon community, we’re seeking pitches from local freelancers. Email us at [email protected] and tell us the story you’d like to tell.

Flickr pool photo by Kevin Wolf

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.

This week we have six Just Reduced properties to present to you. That’s right, only six!

In years past, we’ve consistently had 20-30 properties to select from each week, but the “Just Reduced” options have been a bit tougher to track down in recent times.

Why could this be?

  • Well, with the pending arrival of Amazon’s HQ2, it appears folks are realizing the value — and potential value — of their holdings. So, a reduction may not be the best immediate move, given the circumstances. Since Amazon’s November announcement, our market has been hot, and the prices are holding strong.
  • Inventory remains tight. And with slimmer pickings on the market, prices have remained strong. So, from a seller’s perspective with ample time to sell, why budge first?
  • And well, our community remains strong and a world-class place to live. Why discount offerings when Arlington is the 1 place to live in the state?

When you’re ready to explore your options — whether they have been “Just Reduced” or not — our award-winning team is ready to help you GET MORE out of your transaction.

As of February 20, there are 126 detached homes, 17 townhouses and 90 condos for sale throughout Arlington County. In total, 6 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: Too Many Real Estate Agents?

By ARLnow.com Sponsor

This regularly-scheduled sponsored Q&A column is written by Eli Tucker, Arlington-based Realtor and Rosslyn resident. Please submit your questions to him via email for response in future columns. Enjoy!

Question: I’m a bit overwhelmed by the number of real estate agents claiming to be “Arlington experts.” How many real estate agents worked in Arlington last year?

Answer: The residential real estate profession has one of the lowest barriers to entry of any industry. While there are a lot of great agents out there, dedicated to their profession and delivering real value to their clients, it’s easy for just about anybody with a couple of months to study and a couple thousand dollars to represent you in a real estate transaction.

That’s why it’s important to ask your agent if they’re full-time or part-time, how they conduct business and about their professional background.

The Data

In every transaction there are generally two agents — one representing the buyer and one representing the seller. Below is a breakdown of how many agents were involved in Arlington transactions in 2018:

  • 1,669 different agents represented buyers and 1,452 different agents represented sellers in 3,095 transactions representing just over $2B in sales volume
  • 71% of those agents represented one Arlington buyer and 65% represented one Arlington seller in 2018
  • 85 agents represented 10+ transactions in Arlington in 2018 and 18 agents represented 20+ transactions in Arlington
  • Buy-side agents worked for 260 different brokerages (offices) and sell-side agents worked for 284 different brokerages
  • Congratulations to Keller Williams Realty for being the top brokerage by transaction and dollar volume for both buyers (378, $250M+) and sellers (428, $281M+) in 2018 and congratulations to the Keri Shull Team of Optime Realty for being the top agent/team by transaction and dollar volume for both buyers (129, $79M) and sellers (83, $57M+)

An agent’s volume in Arlington isn’t the whole story. There are many great agents on this list who do most of their work outside of Arlington and there are quite a few agents who transact simply for their own investments.

What Do You Think? 

Most studies suggest that consumers are less concerned with measures like sales volume and more focused on the strength of communication and trustworthiness of the agent they’re working with. I’d love to hear whether you, as a consumer, consider transactions or sales volume a top three factor when choosing an agent.

Interestingly enough, I often find that most people want to make sure their agent isn’t doing too much business and being spread too thin.

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

It’s completely reasonable to interview multiple agents and the more you can express what you want from an agent, the better chances you’ll have at working with the right person.

If you’d like a question answered in my weekly column, 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 Real Living At Home, 2420 Wilson Blvd #101 Arlington, VA 22201, (202) 518-8781.

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:

2901 N. Kensington Street
4 BR/4 BA single-family home
Agent: Century 21 New Millennium
Listed: $1,750,000
Open: Sunday 1-3 p.m.

 

2710 S. Hayes Street
4 BR/4 BA, 1 half bath single-family home
Agent: Washington Fine Properties
Listed: $1,150,000
Open: Sunday 1-4 p.m.

 

4446 1st Place S.
4 BR/4 BA single-family home
Agent: Optime Realty
Listed: $999,000
Open: Sunday 2-4 p.m.

 

1111 19th Street N. #1503
2 BR/2 BA condo
Agent: Long & Foster Real Estate Inc
Listed: $735,000
Open: Sunday 1-3 p.m

 

1301 N. Courthouse Road #1802
1 BR/1 BA, 1 half bath condo
Agent: Keller Williams Capital Properties
Listed: $600,000
Open: Saturday 1-3 p.m.

 

3000 Spout Run Parkway D607
1 BR/1 BA condo
Agent: Keller Williams Realty
Listed: $259,900
Open: Saturday 1-4 p.m.

Morning Notes

By ARLnow.com

Another Food Hall Coming to Rosslyn — “Two local hospitality ventures have already announced plans for food halls in Rosslyn, and now a third food hall-type venue is being floated for the Arlington neighborhood. Even weirder? All three are on the same block of North Moore Street, the street where the Rosslyn Metro station is located.” [Washington Business Journal]

HQ2 Boosting Real Estate Market — “Real-estate professionals from across the local area already are seeing spring-level interest among prospective buyers, raising hopes for a solid start to the year. ‘The Amazon HQ2 announcement, plus favorable interest rates and a relatively mild winter, have all contributed to bringing the buyers out early this year,’ Northern Virginia Association of Realtors president Christine Richardson said.” [InsideNova]

Local Healthcare Firm Makes Acquisition — “Arlington-based Advantia Health LLC has acquired Illinois-based OB-GYN practice Heartland Women’s Healthcare in a deal that nearly doubled the local group’s size overnight.” [Washington Business Journal]

‘Coffee with a Cop’ Next Week — “The Arlington County Police Department, in partnership with the Fashion Centre at Pentagon City is hosting its next Coffee with a Cop event on February 26, providing the public with an opportunity to meet and interact with the department’s Community Outreach Teams.” [Arlington County]

More Ballston Road Closures Planned — Additional road closures are planned along Wilson Blvd near the mall this weekend for continued work on the new Ballston pedestrian bridge. [Twitter]

‘Tree Action Group’ No Fan of Bike Trails — The Arlington Tree Action Group, a vocal local activist organization that often speaks out against plans to cut down trees, is apparently no big fan of bike trails. In response to a photo of a dog in front of the Eden Center after Wednesday’s snow, the group wrote on Twitter: “To [sic] bad the County doesn’t care how icy the sidewalks are as long as the bike trails and the other trendy County thoroughfares are clear.” The Eden Center, however, is in the City of Falls Church. [Twitter]

Flickr pool photo by Kevin Wolf

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.”

Bidding wars continued to torment buyers this week as the Spring market heats up further.

Some 45 buyers ratified contracts and 16 of those homes were on the market less than a week. Homes receiving more than one offer tended to be in the moderate to lower price range of $750,000 and below.

Sellers did their part by listing 51 homes and helping to rectify our problem of low inventory. With only 195 homes actively for sale in Arlington and at the current rate of absorption, there’s only 1.1 months of supply.

Technically, it should be a strong seller’s market. A market is considered in equilibrium when there’s about 5.5 months of inventory.

Buyers got some good news. Mortgage rates dropped this week to 4.375% for a 30-yr fixed rate. A Federal Reserve report said the Fed does not expect to raise its bank rates for the foreseeable future as it watches carefully the U.S. and global economies.

There were signs this week of a slowing U.S. economy with weak retail sales in the 4th quarter. JP Morgan economists see the U.S. GDP growing at only 1.5% for the 1st quarter after a sluggish 4th quarter of only 1.4%.

But Freddie Mac economist Sam Khater had some good news for buyers saying that nationally “wages are growing on par with home prices for the first time in years…” Let’s hope that development hits our area soon.

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

Listing of the Day: 1422 21st Street S.

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Address: 1422 21st Street S.
Neighborhood: Arlington Ridge
Listed: $1,329,000

Gorgeous remodel in Arlington Ridge! Large home with top of the line and luxurious updates throughout.

Gourmet kitchen with coffered ceilings, large center island, stainless steel appliances, marble countertops, custom cabinets, wine fridge, breakfast bar and luxurious light fixtures.

Expanded master suite with large walk-in closet with custom Elfa shelving, soaking tub + stand-up shower, dual sinks and custom mirrors. Fully finished lower level walkout with full bath and kitchenette — perfect for supplemental income, nanny, au-pair or in-law suite. Porcelain tile throughout and fresh paint.

Large backyard with amazing views from up above the trees in Arlington Ridge, including 2 patios and an upper deck — perfect for relaxing or entertaining. Brand new windows and doors throughout, updated landscaping, new front walkway and 1-car garage.

Prime private cul-de-sac location — 20 min walk to Amazon HQ2/National Landing/Crystal City, close to Pentagon, I-395 and more.

Must see!

Listed by:
Optime Realty / Keri Shull Team
[email protected]

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.

“Why would I care that a property is reduced by $3,000?”

It’s a solid and common question that I get, now three-plus years deep into the Just Reduced column.

Here are the reasons why you should keep your eye on these reduced properties, whether their prices ticked down by $3,000 or $500,000:

  • These reductions may only be the beginning. A proactive reduction of $3,000 by the seller may eventually segue into a negotiation that saves you thousands more.
  • A reduction may show the seller’s urgency. Each seller’s situation is unique. They may need to sell by a certain date and a price reduction is a small hint to get you enticed (and negotiating even further).
  • It may signify a price correction. Yes, some listings are truly overpriced, and this is a way of the seller and their team coming back to reality.

When you’re ready to get the full scoop on a property you’ve been eyeing — whether it’s been reduced yet or not — our team is ready to help you GET MORE out of your transaction!

As of February 18, there are 116 detached homes, 10 townhouses and 85 condos for sale throughout Arlington County. In total, 10 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: Does Virginia, Washington DC, or Maryland Have The Most Favorable Taxes?

By ARLnow.com Sponsor

This regularly-scheduled sponsored Q&A column is written by Eli Tucker, Arlington-based Realtor and Rosslyn resident. Please submit your questions to him via email for response in future columns. Enjoy!

Question: I recently got a job in the D.C. Metro area and will be moving to the area next year. I am open to living in Northern Virginia, Washington D.C., or Maryland and want to know which jurisdiction offers the most favorable taxation.

Answer: Congratulations on your new job (Amazon HQ2?)! There must be a lot going on in your mind right now like whether you’re still young enough to offer your friends pizza and beer to help you move.

For years I’ve looked for a good resource to send clients in response to this question and couldn’t ever find it, so I reached out to my CPA, Klausner & Company located in Arlington, Virginia, who I highly recommend, to come up with a detailed yet simple chart to compare taxation between Virginia, Maryland and Washington D.C. across different incomes.

So with that, I will turn this week’s column over to Chris Light and the tax experts at Klausner & Company, enjoy!

First thing’s first, Virginia, Washington D.C. and Maryland all have reciprocity with each other. This means that if you live in one state and work in the other, you only have to worry about paying taxes and filing a tax return in the state that you live in.

Let’s analyze the tax outlook of three different people who have just landed new jobs as employees in the D.C. Metro area:

  • Bobby’s AGI is $85,000. Bobby has a vehicle valued at $18,000 and a home valued at $450,000.
  • Sarah’s AGI is $150,000. Sarah has a vehicle valued at $35,000 and a home valued at $800,000.
  • Chris’s AGI is $300,000. Chris has a vehicle valued at $65,000 and a home valued at $1,200,000.

Important Notes

AGI, Adjusted Gross Income, is a term to describe a person’s income minus some specific deductions. Bobby, Sarah and Chris’ AGI are all based on salary earned by the end of 2018. AGI is used to determine taxable income, as seen in the ‘Math’ chart below. Taxable income determines which income tax brackets they fall in.

They are all taking the standard deduction. Virginia and Maryland property taxes vary by county and city/town, so the table below uses Arlington County rates for Virginia and the average Montgomery County rate for Maryland. Now let’s crunch some numbers:

For the full text of this column including summary of findings, how adjustments like renting and being married impact your tax position, and helpful reference tables please follow this link (don’t worry, I won’t ask for your email address, I just don’t have enough space here).

Thank you very much Klausner & Company for finally providing people with an easy to understand breakdown of taxation in the DMV. For those of you in need of CPA services for yourself or your business, I am a loyal, happy client and I can’t recommend them enough.

They provide specialize in tax services for individuals and small business and have over 40 years of experience in the Greater Washington area.

Once you’ve taken advantage of the provided tax information and would like to talk about the non-tax related questions you have about where to live, please reach out to me at [email protected]. Our team has worked with buyers from all over the country and the world to find the right neighborhood and we’re happy to help you too.

If you’d like a question answered in my weekly column, 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 Real Living At Home, 2420 Wilson Blvd #101 Arlington, VA 22201, (202) 518-8781.

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