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.”
The consensus is in on the outlook for our housing market in 2020.
Here are the views from the top economists from the National Association of Realtors, Fannie Mae, Realtor.com, Zillow, Redfin, the National Association of Home Builders and more.
Buyers beware and get ready. 2020 will be more agonizing than last year as a scarcity of inventory will get even worse. “2020 will prove to be the most challenging year for buyers not because of what they can afford, but rather what they can find,” says George Ratiu, senior economist with Realtor.com.
Mortgage interest rates will stay about the same, currently at 3.75% for a 30-yr fixed rate, through 2020 rising no more than 4%. That’s some good news for buyers.
Home values will increase in 80% of major metro areas across the U.S., rising by 1.8% to 6%. In 2019, Arlington values rose 6% for single family homes. With less inventory and greater demand, we should see home values rise 6% to 8% in 2020.
Because of inventory scarcity nationwide, some 25% of all transactions will be involved in bidding wars. In my opinion, you can double that for Arlington in 2020.
Home builder confidence is the highest in 20 years as contractors race to keep up with demand. They expect to deliver 4% more homes to the market than last year. But still the U.S. faces a cumulative housing shortage of 1 million homes based on population growth and household formation.
In other words, buckle up.
This week in Arlington some 41 sellers listed their homes, and 32 buyers ratified contracts. The spring market has sprung.
Click to see all the fresh new inventory in MRIS and call Team Cathell (703-975-2500) when you find a home you like.
- 1001 N. Vermont Street #705, Arlington, VA 22201 — $405,000
- 2400 N. Clarendon Boulevard #1001, Arlington, VA 22201 — $475,000
- 3722 N. Pershing Drive, Arlington, VA 22203 — $985,000
- 2137 N. Pierce Court, Arlington, VA 22209 — $1,000,000
- 2250 N. Quincy Street, Arlington, VA 22207 — $1,050,000
- 2712 N. Pollard Street, Arlington, VA 22207 — $1,250,000
- 4817 24th Street N., Arlington, VA 22207 — $1,374,900
- 232 N. Fillmore Street, Arlington, VA 22201 — $1,995,000
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The Arlington-Aachen High School exchange is returning this summer and currently accepting applicants.
The sister-city partnership started in 1993 by the Arlington Sister Cities Association, which seeks to promote Arlington’s international profile through a variety of exchanges in education, commerce, culture and the arts. The exchange, scheduled June 17th to July 4th, includes a two-week homestay in Aachen plus three days in Berlin. Knowledge of the German language is not required for the trip.
Former participants have this to say:
_”The Aachen exchange was an eye-opening experience where I was fully immersed in the life of a German student. I loved biking through the countryside to Belgium, having gelato and picnics in the town square, and hanging out with my German host student’s friends. My first time out of the country, the Aachen exchange taught me to keep an open mind, because you never know what could be a life changing experience.” – Kelly M._
Learn about the new assessment of Arlington’s urban tree canopy and the many ecological and social benefits trees provide. Staff from the Green Infrastructure Center (GIC) will share study results and compare canopy cover for different areas of Arlington.The webinar will include assessments of ecosystem services such as stormwater mitigation, air quality, carbon uptake, and urban heat islands. For background on Arlington trees see the “Tree Benefits: Growing Arlington’s Urban Forest” presentation at http://www.gicinc.org/PDFs/Presentation_TreeBenefits_Arlington.pdf.
Please register in advance to assure your place at the webinar, https://attendee.gotowebinar.com/register/29543206508863839.
About the Arlington County Civic Federation: The Arlington County Civic Federation (“ACCF”) is a not-for-profit corporation which provides a forum for civic groups to discuss, debate, inform, advocate and provide oversight on important community issues, on a non-partisan basis. Its members include over ninety civic groups representing a broad cross-section of the community. Communications, resolutions and feedback are regularly provided to the Arlington County Government.
The next meeting is on Tuesday, February 21,2023 at 7 pm. This meeting is open to the public and will be hybrid, in-person and virtually through Zoom. Part of the agenda will be a discussion and vote on a resolution “To Restore Public Confidence in Arlington County’s Governance”. For more information on ACCF and this meeting, go to https://www.civfed.org/.
Valentine gifts for someone special or for yourself are here at George Mason University from noon -4pm on February 14, 2023. Satisfy your sweet tooth with Kingsbury Chocolates, find a handmade bag from Karina Gaull, pick up treats from Village