The Arlington County Board is considering whether to authorize county-run firearm buyback events.
Buybacks would provide residents with cash, gift cards, vouchers or other payment in exchange for guns, according to a proposed ordinance. The voluntary events would be open to residents of Arlington and Falls Church.
For Five Coffee Roasters’ Rosslyn location was already bustling with activity just hours after opening its doors for the first time on Friday.
“I’m so excited!” customer Laura Durie exclaimed to a companion as she looked at the coffee shop’s menu. “Look, they have an omelet!”
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].
Question: Does the cost of renting a home in Arlington increase at a similar rate as the cost of buying a home in Arlington?
Answer: The cost of renting and buying a detached home increases at a similar rate, but the cost of renting a condo has outpaced the cost of buying a condo.
Condo Rents Rising Faster than Condo Prices
Since 2020, the cost of renting a detached home in Arlington increased at a similar rate as the cost of buying a detached home; 26% and 28%, respectively.
However, the cost of renting a condo increased significantly faster than the cost of buying a condo; 21% and 6%, respectively.
Sale Price to Rental Rate Multiple Shifts with Interest Rates
The table below shows the average price and $/SF of buying a detached home or condo relative to the average annual rent for a detached home or condo, in Arlington. Higher multiples show that buying is becoming more expensive relative to renting.
Takeaway: Condo buyers are more rate sensitive than detached home buyers and are more likely to rent (higher rental demand = strong condo rent appreciation) than buy (weakened purchase demand = low condo value appreciation) when interest rates increase. Notice how quickly the sale price to rental rate multiple drops from 2020/2021 to 2022/2023 (rates skyrocketed spring/summer 2022). (more…)
CoStar May Sell New HQ — “Andy Florance, the real estate data giant’s CEO, told analysts Tuesday that CoStar is likely to sell Rosslyn’s Central Place tower, but to remain there — like it did with its D.C. headquarters 13 years ago. CoStar acquired the 550,000-square-foot office portion of Central Place, 1201 Wilson Blvd., from JBG Smith Properties last week for roughly $325 million.” [Washington Business Journal]
Stolen Car Bust on Video — From Dave Statter: “This was the scene at S. 23rd St. & Crystal Dr. at 8:15 p.m. It appears @ArlingtonVaPD officers were sitting on a parked stolen car and moved in with guns drawn after four people got into the vehicle. While some bystanders ran to get out of the way others got closer to get video.” [Twitter]
The League of Women Voters of Arlington and Alexandria City, in partnership with Arlington County Public Library, invites you to an open discussion on managing local government in a changing environment.
Join Arlington County Manager Mark Schwartz and Alexandria City Manager Jim Parajon for a conversation about how local governments are adapting to shifts in federal funding and changes at the state level. The discussion will explore how these evolving conditions may impact local priorities, services, and decision-making in our communities.
Many standout high-school swimmers eventually settle on a favorite type of stroke they prefer in competition.Not Eli Martin.
As his Washington-Liberty High School coach Kristina Dorville explains, the senior is more of a “Mr. Everything.”
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Good Friday evening, Arlington. Let’s take a look back at today’s stories and a look forward to tomorrow’s event calendar.
The following articles were published earlier today — Feb 23, 2024.
The Arlington County Board and the Human Rights Commission are at odds over whether commissioners had the right to request an investigation into possible human and civil rights violations at the county jail.
Earlier this month, the commission sent a letter to the U.S. Department of Justice, voicing concerns over reports that inmates at the jail lack adequate healthcare, a situation they argue could put them “at risk of death and severe harm.” This follows up on letters to the County Sheriff’s Office and the DOJ from the Arlington branch of the NAACP and its national organization, asking for an investigation after hearing from former and current inmates.
Rep. Don Beyer is taking a leading role in Congress to address what he says is one of the most pressing issues this century: the regulation of artificial intelligence.
This year, Beyer (D-Va.) and a bipartisan group of colleagues intend to tackle a variety of AI-related issues, including the creation of deep fakes, copyright infringement and enhancing privacy protections.
The Arlington County Board could approve a new sewer plan for the first time in 22 years tomorrow (Saturday).
The proposed Sanitary Sewer Collection System Plan is designed to prepare the county for continued growth through 2045. Despite the surge in development planned for the county over the next two decades, the plan does not call for expanding Arlington’s current sewer infrastructure.
A custom stone cross was lifted into place on the Cathedral of St. Thomas More along Arlington Blvd this week.
To celebrate the placement of this feature, the highest point of the structure, the Diocese of Arlington held a “capping ceremony.”
