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.

Yesterday was quite a quirky holiday: Dictionary Day!

How many of you celebrated by opening up the ole dictionary, jotting down a few words and spreading your new vocabulary to the masses? (Okay, I’m hearing crickets.)

But, it’s not too late to boost your real estate lingo. In honor of Dictionary Day (and, well, we should be learning new words all the time) here are a few common real estate terms/words that are commonly misinterpreted:

Short sale — Simply put, it’s a property that sells for a price lower than what is owed to the lender(s) who may hold liens on it.

Escrow — When you place something “in escrow,” it’s essentially in the hands of a third-party until specific stipulations are met.

Earnest money — This is the dough a prospective buyer puts forward to show that he/she is serious about buying a home.

And, there’s a lot more real estate lingo out there. When you’re ready to roll on your transaction, my team is ready to help make sense of the process… and help you get more out of your investment.

Now on to this week’s figures…

As of October 15, there are 216 detached homes, 61 townhouses and 248 condos for sale throughout Arlington County. In total, 59 homes experienced a price reduction in the past week.

Here is this week’s selection of Just Reduced properties:

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: Investing Along Columbia Pike — Trafalgar Flats Update

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: How much interest has there been in Trafalgar Flats and do you think it’s a good investment?

Answer: Twelve months ago I introduced a new condo building off of Columbia Pike, Trafalgar Flats, by Pillars Development Group. Now that they’re near completion, I stopped by to take a look at the progress and talk to Rick Snider, Pillars’ VP of Planning & Design.

Impressive Design, Upgraded Finishes

Trafalgar Flats owners will be pleasantly surprised with the quality of the finishes; everything is upgraded well beyond what one expects at this price point.

It’s a modern design without being over-the-top and includes nice touches, like heavier interior doors, most builders skip. Instead of using standard bucket-style recessed lighting, they chose LED lights that lay flat against the ceiling (pictured below) for a minimalist look I expect will become a trend.

Strong Pre-Sales

Selling condos without a model isn’t easy so having 40% sold (33 of 78 units) already reinforces how starved Arlington is for new condos at a reasonable price (about half the cost of comparable units at Key & Nash).

To Pillars’ credit, their sales have been evenly distributed across each of the three types of units – Jr 1BR ($265k+), 1BR ($340k+), and 2BR/2BA ($475k+). I was particularly interested in how the Jr 1BR would sell because it’s a product that we don’t see much of around here; it turns out they made the right decision.

Trafalgar Flats will be complete, with a model unit, by the end of the year. Although that comes at the slowest time of the year for local real estate I expect the pace of sales to move quickly. I wouldn’t be surprised if they are sold out by March 2019, sooner if Amazon HQ2 announces their move to Arlington.

Investing Along Columbia Pike

Western Columbia Pike has a higher appreciation ceiling over the next 5-10 years than most Northern VA neighborhoods. It is primed for a shift in residential and commercial activity as the County’s Multimodal Street Improvement project reaches completion over the next few years, including improvements to underground utilities.

Just this year, major projects along western Columbia Pike have been announced or under construction including Trafalgar Flats, a new Pillars townhouse community, Centro Arlington (anchored by Harris Teeter), and Gilliam Place Apartments.

Thoughts From Pillars Development Executive

I spoke with Rick Snider, long-time Northern Virginia real estate Executive and VP of Planning & Design for Pillars, about Trafalgar Flats and his thoughts on development along Columbia Pike:

How did you choose this area over others to build TF? We were immediately attracted to this site when it came onto the market due to the ‘hole’ in the market relative to “For Sale” product versus “Rental”; we rightly anticipated that some nearby apartment renters would want to become new home owners, rather than purchase an older condo.

Are there other pockets of Northern Virginia or Arlington that you believe has similar appreciation potential? We like Columbia Pike and the market along it; we already have townhouse lots in planning nearby Trafalgar Flats to emphasize our interest in and commitment to this area, and are hopeful that our searches for additional land development opportunities in the area will be rewarded.

Where do you see Columbia Pike Development in three years and in seven years? When do you expect the biggest transition to take place along the Pike? The foundational change of course is found in the Multimodal Project which underscores Arlington County’s commitment to upgrade the infrastructure along this important corridor and to thereby not only improve existing residents’ quality of life, but also to attract additional developments like Trafalgar Flats, Centro Arlington and Gilliam Place.

Do you think Columbia Pike or Lee Highway will re-develop faster?  If you had asked me this a couple of years ago, I would have weighed in on Lee Highway without hesitation, but I think that with the new developments underway and with the infrastructure improvements going in now and in the future that it becomes much more of a horse race; and I think that the price of housing, both for sale and rental, may well be the deciding factor that pushes the Pike ahead.

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:

3910 N. Abingdon Street
5 bed/4 bath single-family home
Agent: Coldwell Banker Residential Brokerage
Listed: $1,195,000
Open: Sunday 2-4 p.m.

 

5642 20th Street N.
3 bed/3 bath single-family home
Agent: McEnearney Associates, Inc.
Listed: $825,000
Open: Sunday 1-4 p.m.

 

4916 14th Street S.
5 bed/4 bath single-family home
Agent: Century 21 New Millenium
Listed: $759,000
Open: Sunday 1-4 p.m.

 

5860 14th Street N.
2 bed/1 bath, 1 half bath single-family home
Agent: Keller Williams Realty
Listed: $619,900
Open: Sunday 1-4 p.m.

 

2136 N. Brandywine Street
2 bed/2 bath villa/townhouse
Agent: Long & Foster Real Estate, Inc.
Listed: $549,900
Open: Saturday and Sunday 2-4 p.m.

 

3600 S. Glebe Road #219W
2 bed/2 bath condo
Agent: Weichert, Realtors
Listed: $512,000
Open: Sunday 2-4 p.m.

 

4121 S. Four Mile Run Drive #304
2 bed/2 bath condo
Agent: Keller Williams Realty
Listed: $405,000
Open: Saturday and Sunday 1-3 p.m.

Just Listed in Arlington

By ARLnow.com Sponsor

Just Listed highlights Arlington properties that just came on the market within the past week. This feature is written and sponsored by Team Cathell, “Your Orange Line Specialists.”

Sellers did their part this week to keep Arlington’s real estate market humming along by listing 69 homes. But buyers continued their mediocre trend of ratifying only 53 contracts, very similar to the last three weeks. In previous years, we would typically see 60 to 65 ratified contracts a week in the peak of the Fall market.

Mortgage interest rates shot up again this week with the 30-yr fixed rate climbing to 5%-5.125%, the highest rates in seven years. The stock market big drop this week didn’t yet influence mortgage rates to ease back. But that could happen next week if Wall Street continues a downturn. As capital flows from equities to bonds, it usually pushes down the bond yield which influences long term interest rates.

There was good news this week that unemployment is at a 60-yr low, and average wages across the US have increased 2.8%. But we are still waiting to see the average household income in the DMV increase for the first time in five years.

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.

Morning Notes

By Alex Koma

Arlington Gets a New Fire Chief — David Povlitz won the job as the county’s new fire department chief, after James Bonzano retired this summer. Povlitz currently works as an assistant chief in Alexandria, and spent 22 years in Anne Arundel, Maryland’s fire department. [Arlington County]

Arlington Home Values Dip Slightly — The median price of home sales in Arlington County dipped by about 1 percent last month compared to the same time period a year ago, according to new stats. Prices rose slightly in the D.C. region as a whole, though the pace of sales slowed and there were fewer homes on the market. [WTOP]

Civic Federation Backs Park Bond — It took a lengthy meeting and a bit of squabbling, but the Arlington COunty Civic Federation is supporting the $30.3 million bond for parks projects on the ballot this fall. The group did not offer its support for the other bonds on the ballot, however. [InsideNova]

Lee Highway-W&OD Trail Bridge Meeting Tonight — State transportation planners will unveil final designs for the new bridge at Yorktown High School tonight. The bridge is designed to replace the trail’s current crossing at the highway’s intersection with Fairfax Drive. [VDOT]

Rosslyn Cider Fest Delayed — Organizers of the annual celebration of cider are pushing back the event a week to Oct. 18, over fears of inclement weather. [Rosslyn BID]

Trick or Treat at the Pentagon City Mall — Kids can head to the Fashion Centre at Pentagon City on Halloween from 5-7 p.m. and snag goodies from select retailers. [Fashion Centre at Pentagon City]

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’re in the heart of Fire Prevention Week, which is October 7 through 13 this year.

The 2018 campaign’s motto is “Look. Listen. Learn. Be aware. Fire can happen anywhere.” So, what a perfect time for us to highlight a couple common fire safety rules.

First, it’s important — whether you’re in an apartment or a single-family home — to know your escape plan. How will you and your loved ones get out if and when a fire comes?

On the smoke alarm front, they should be installed in each bedroom, in each sleeping area and on every level of a home. Smoke alarm batteries should be tested once monthly and batteries changed at least once per year. So, if your smoke alarms haven’t had any love lately, there is no time like the present!

When you’re ready to embark on a search for your Arlington home, our team is ready to help you GET MORE out of your most important transaction. In the meantime, stay safe out there.

As of October 8, there are 204 detached homes, 65 townhouses and 256 condos for sale throughout Arlington County. In total, 49 homes experienced a price reduction in the past week.

Here is this week’s selection of Just Reduced properties:

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.

How to Negotiate Off List Price Home Buying Tips and Class

The longer a house sits on the market, the more opportunity you’ll have to negotiate the price down. The D.C. Metro area is currently what we call a “seller’s market,” meaning that homes generally sell quickly here. What this means for you is that any home that’s been listed for even 15 to 30 days begins to tip the price advantage in your direction; you could negotiate 3-4% off the home price.

Other factors that affect the particulars of negotiating off list price include:

  • The house’s location and neighborhood demand
  • The type and age of home
  • How long the home has been listed
  • How anxious or motivated the home seller is

To learn more about home buying and meet top realtors, attend The Keri Shull and Orange Line Living Team’s free First-Time Home Buying Seminar.

In this class, you’ll learn:

  • The 8 stages of purchasing a home, and what to expect at each stage
  • How to qualify for the house you want
  • How to get out of your lease — you’re not stuck there!
  • The “4 C’s” affecting home price
  • How to negotiate a lower price for the home you want
  • How to avoid double-paying rent and a mortgage

Every attendee of our First-Time Homebuyers Class gets $1,500 toward their new home.

When: Monday, October 15, 6-7:30 p.m.
Where: 1600 Wilson Blvd. #101
Parking: Free parking, walkable to and from Metro
Cost: Free

We do have limited space, so register now at http://www.buyingseminar.house and follow the Keri Shull Team on Twitter.

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:

2619 N. Ohio Street
5 bed/4 bath, 1 half bath single-family home
Agent: Beacon Crest Real Estate
Listed: $1,425,900
Open: Sunday 1-3 p.m.

 

3601 N. Jefferson Street
5 bed/4 bath, 1 half bath single-family home
Agent: Century 21 New Millennium
Listed: $1,415,000
Open: Sunday 2:30-4:30 p.m.

 

604 N. Garfield Street
4 bed/3 bath single-family home
Agent: Samson Properties
Listed: $1,329,000
Open: Saturday and Sunday 1-4 p.m.

 

1204 N. Nelson Street
4 bed/3 bath, 1 half bath single family home
Agent: Wydler Brothers
Listed: $1,199,900
Open: Saturday and Sunday 1-3 p.m.

 

3807 36th Road N.
5 bed/3 bath single-family home
Agent: Long & Foster Real Estate
Listed: $1,104,000
Open: Sunday 2-4 p.m.

 

5400 N. Williamsburg Boulevard
4 bed/3 bath single-family home
Agent: City & Suburban Homes Company
Listed: $949,900
Open: Sunday 1-4 p.m.

 

436 S. Monroe Street
4 bed/3 bath single-family home
Agent: Century 21 New Millenium
Listed: $949,900
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 Team Cathell, “Your Orange Line Specialists.”

Arlington’s peak fall market is performing more like a summer doldrums market this week.  Sellers listed only 71 homes this week while buyers ratified only 55 contracts.  Those are numbers we would expect in July and August, but not the first week of October.

The days on market has also jumped up to 41. Arlington has 525 homes actively for sale. At the current rate of sales, there is 2.4 months of inventory. While this is way below the national average in a balanced market at 5.5 months of inventory, it shows a trend from the 1.9 months of inventory Arlington enjoyed this spring.

There are also reports this week that the national rate of home sale price growth has dropped significantly in the last few months.  Prices are not going down, they’re just no longer going up at the rate a few months ago.  Again, this is an important trend to watch.

But this week was huge in the mortgage industry.  Interest rates shot up 10 basis points, the most in one week in the last two years and now the highest rates since 2011.  The 30-yr fixed rate is now 4.875% – 5%.

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

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.

Enjoy those 80s while you can, folks… because next week we’re shaping to dip into the 60s and 70s.

What does this mean for you? Well, among a lot of things, it means you need to enjoy this grilling weather while you can! And, if you don’t own a grill, October is the best month of the year to get a bargain.

That’s right, this is historically the month to load up on your outdoor furniture and staples, as stores are trying to clear their inventories before winter comes and no one wants to hang around outside – well, unless you like the cold weather. Hopefully our winter won’t be too crazy, so you can put that grill and any new patio furniture to use all year long.

And, if you’re looking for a new home, let’s not put the grill before the house. Our team is ready to help you GET MORE out of your real estate transaction when you’re ready to roll.

As of October 2, there are 199 detached homes, 57 townhouses and 261 condos for sale throughout Arlington County. In total, 41 homes experienced a price reduction in the past week.

Here is this week’s selection of Just Reduced properties:

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: “Ask” Us About Tysons, McLean, Vienna and Falls Church!

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!

I am excited to announce that today marks our expansion of the “Ask Eli” real estate column further into Northern Virginia, with the introduction of “Ask Val” in the Tysons Reporter.

What Is Tysons Reporter?

Tysons Reporter is a new online local news publication brought to you by Scott and his team, who started and still oversee, ARLnow. It will cover local news in Tysons, McLean and Vienna (and probably Falls Church) the same way they canvass Arlington for great, hyper-local stories. If you work, live, have an interest in those communities or know anybody that does, I encourage you to follow along or sign-up for their daily newsletter.

Who Is Ask Val?

Val is one of the awesome agents in the Eli Residential Group and specializes in the neighborhoods surrounding Tysons (with a ton of experience in Maryland too!). She grew up in Peru and began her real estate career in the DMV in 2004.

Starting today, she will be writing a weekly Ask Val real estate column for Tysons Reporter. She will include some of the data-driven content that you’re used to seeing here, but plans to give the column her own twist by using videos and some fun local flavor to bring her own personality to readers.

I hope you find some time to follow along with Val’s column and the rest of the great local news at Tysons Reporter!

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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