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:
Editor’s Note: This biweekly column is sponsored by Dominion Wine and Beer (107 Rowell Court, Falls Church). It is written by Garrett Cruce, a Cicerone Program Certified Beer Server.
Visiting Southern California puts you right in the heart of one of the richest brewing communities in the United States.
This regularly scheduled column is written by Eli Tucker, Arlington-based Realtor and Arlington resident. If you would like to work with Eli and his team in Northern Virginia and the greater D.C. Metro area, you can reach him directly at [email protected].
Fannie Mae sets the rules for (most) residential lending and just released new requirements for condo loans. Here’s a link to the full release and I’ll highlight a few changes that have the biggest implications for Arlington/Northern VA condos.
Thanks to the always-on it, Trey Reed of Cross Country Mortgage ([email protected], 703.297.9382), for the notice and helpful explanation on these changes.
Elimination of 50% Investor-Owned (rental) Unit Limits
This rule caused mass confusion for years for condo boards/owners and is now eliminated.
- The actual rule: No second-home or investment loans in buildings with 50%+ units owned by investors (rented), loans for primary residences were always permitted
- What people thought the rule was: No loan of any type in buildings with 50%+ units owned by investors (rented)
Effective Immediately: The 50%+ investor-owned limit is eliminated for ALL loan types.
Why it Matters: This should increase the buyer pool for investor-heavy buildings which is good for values, but may push rental percentages even higher, which most owner-occupants consider a negative.
What to Watch: Many condo buildings with rental caps set them at, or just below, 50% because of this rule (I’m generally opposed to rental caps) so it makes sense that some buildings will drop their rental caps. On the other hand, the elimination of this rule may increase the number of investor purchases and owner-occupants may play defense by adding a rental cap. It’ll be interesting to see how this plays out over the next 2-3 years.
Increased Reserve Allocation to 15%
What Changed: For loan applications dated after Jan 4 2027, condos must budget at least 15% of their total income from assessments (condo fees) toward Reserve contributions.
Background Context: Previously, the requirement was 10%. Reserves are a building’s savings account for the maintenance and replacement of common elements (e.g. HVAC, roof, carpet, paint, parking garage, etc).
Between the Lines: Underfunded Reserves are the biggest financial risks for a condo association; and thus for the banks that lend to its owners. The minimum contribution requirement is an effort by Fannie Mae to reduce this risk exposure.
Why it Matters: This is a nationwide rule, but Arlington/Northern VA condos tend to be in a better financial position, with stronger reserve balances, than many others across the country and do not need 15%+ annual reserve contribution to properly maintain their Reserves. As a result, this rule will force these buildings, that have been financially responsible for years/decades, to increase condo fees unnecessarily to meet the new requirement. This will result in an unnecessarily overfunded Reserve account and put downward pressure on market values because monthly fees are higher. (more…)
Williamsburg frozen yogurt shop Zinga is now under new management, though loyal customers shouldn’t expect to see too many changes.
The store, located in the Williamsburg Shopping Center at 2914 N. Sycamore Street, will now be operated by Yobe, a Louisiana-based frozen yogurt chain. One of its new managers, Brittany Uribe, told ARLnow that the Williamsburg location will retain the Zinga name, however.
|
The Drafthouse (2903 Columbia Pike) has confirmed performances from a variety of well-known stand-ups over the coming months.
Darrell Hammond, a staple of “Saturday Night Live” with a famous impression of President Donald Trump, will swing by from Dec. 7-8.
Due to the extended period of extreme heat forecasted for the next several days in our area, the Civic Jam event originally scheduled for Friday, July 3, 2026, has been postponed to Friday, July 24, 2026.
Commemorate the country’s 250th anniversary of the United States of America at Civic Jam! Celebrate the City of Falls Church’s diverse community, civic engagement, and classic summer fun. Jam out to live, local music, sip on local brews, enjoy tasty treats and eats, and a full evening of festivities for all ages on Friday, July 3, 2026, from 6 to 10 p.m.
|
Full Arlington Memorial Bridge Shutdown Planned — One of the main links from the county into D.C. will close entirely for the weekend of Sept. 15-17, as workers get ready to start major repair efforts. Officials are warning of rolling lane closures after that, with another full shutdown sometime this fall. [Washington Post]
County Police See a String of Wheel Thefts — Since June 1, Arlington police say they’ve seen thieves make off with the tires and rims of five different cars. Many of the thefts have been concentrated in the Pentagon City and Crystal City area, where airbags have also started vanishing. [WTOP]
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.”
With only one week left of summer, Arlington’s real estate market chugged steadily along with 59 new listings and 49 ratified contracts. The slower pace showed up with only 12 of those new listings selling within a week.
While most ribbon cuttings for new businesses around Arlington tend to be full of pomp and circumstance, SyLearn’s grand opening in a modest Virginia Square office building Wednesday was a family affair.
CEO Jay Chandok, who helped found the new IT training company, busily urged guests to help themselves to a full buffet, as the daughters of Chandok and other staff members snapped pictures of new arrivals with iPhones. One made sure to introduce each visitor to one of her dolls, which she’d given a Hawaiian name: Leilani.
Pass rates for standardized tests held steady or dipped slightly among Arlington students last year, though the county still boasts success rates well above state averages across all subjects.
According to test results released yesterday (Wednesday), county students exceeded state pass rates on 25 of the 29 subjects included on the Standards of Learning tests for the 2017-18 school year. Arlington Public Schools expects the results will mean all of its schools earn state accreditation for the fourth straight year.
After two years of working without a contract, a recent arbitration decision set the terms of employment for nearly two-thirds of all Metro employees through 2020. Union members get a small raise retroactive to 2017. In exchange, they will have to pay a higher percentage of their health care costs moving forward. On net, that means labor costs will go up over $60 million through 2020 and WMATA will look to Arlington, among other jurisdictions, to fill in that gap.
The issue that will have the biggest impact on the long term health of the transit agency is pensions. The second largest union has agreed to move to a defined contribution plan for new hires. The largest union refuses to do so.