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.
Our local real estate market is adapting to the COVID-19 pandemic.
The Virginia housing market exhaled a huge sigh of relief on Monday when Governor Ralph Northam issued Executive Order 53. This allowed all aspects of the real estate industry to continue working to assist buyers and sellers with their housing needs.
Appraisers, home inspectors, title companies, real estate photographers and other closely aligned businesses that real estate agents rely on to help buyers and sellers can continue operating, and mortgage lenders are still funding loans.
Fannie Mae and Freddie Mac adopted new guidelines for appraisers, allowing “exterior only” reports, and also adopted electronic recording, something most states already use but which had not yet been fully embraced at the federal level. Title/settlement companies are able to conduct settlements remotely via eNotary software.
Lender concerns over liquidity to keep lending have mostly been alleviated as a result of moves by the Fed to buy an unlimited amount of mortgage-backed securities. Mortgage rates are higher (around 3.65%), moving away from the low bond yields that they typically move in line with. This difference is known as a “risk premium” for nervous investors, and it is likely to narrow in coming weeks as things presumably settle out more.
The Arlington housing market is still rocking and rolling as we conclude a busy, fast-paced March despite social distancing, coronavirus fears and stock market volatility. While many open houses are canceled, you can absolutely call me or my team to get you in to see any listing you are interested in. Additionally, we’re putting plenty of listings on the market as we head into the busiest buying and selling season of the year, spring!
We’re taking many steps to minimize risk and are prepared to conduct listing appointments virtually if desired. Additionally, we use electronic signature software to execute agreements and contracts, can use Zoom or FaceTime for things like inspections, walkthroughs and even showings. Rest assured, we’re fully prepared to market your home and get it sold for top dollar, even during social distancing requirements and virus fears.
There are currently 211 homes for sale in Arlington. 113 are detached homes, 25 are townhouses/semi-detached, and 73 are condos.
Median list price of available properties is $1,009,950, while the average is $1,163,017. Sellers listed some 79 properties for sale this week. Buyers ratified 58 contracts, 39 of which were homes that had been on the market one week or less.
PICKS OF THE WEEK — The Andors Real Estate Group is proud to have Just Listed two lovely Arlington properties this week!
The first is a fantastic end unit town home located at 3322 2nd Street S., Arlington 22204. This 3 bed/3 bath town home has a large rear patio, spacious bedrooms and a completely open main floor with an inviting and functional kitchen boasting stainless appliances, abundant cabinetry and granite countertops.
The second is a stunning Crystal City/National Landing condo located in the Waterford House, 1200 Crystal Drive #213, Arlington 22202. This 3 bed/3 bath 1,772 sq. ft. condo comes with a garage parking space, floor-to-ceiling windows and a 51-foot balcony to watch the comings and goings, including planes landing at DCA.
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.
- 2901-F S. Woodley Street #6, Arlington, VA 22206 — $390,000
- 2001 15th Street N. #805, Arlington, VA 22201 — $517,000
- 3322 2nd Street S., Arlington, VA 22204 — $645,000
- 1107 S. Walter Reed Drive #304, Arlington, VA 22204 — $699,900
- 137 S. Garfield Street, Arlington, VA 22204 — $819,900
- 1200 Crystal Drive #213, Arlington, VA 22202 — $825,000
- 1900 S. Hayes Street, Arlington, VA 22202 — $899,000
- 2330 N. Vermont Street, Arlington, VA 22207 — $2,100,000