This regularly scheduled sponsored 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 Eli@EliResidential.com.
Eli and his team believe that your real estate needs should be managed by advisors, not salespeople. Their mission is to guide, educate, and advocate for their clients through real advice, hands-on support, and personalized service.
It’s always fun taking a look back at the most expensive homes sold in the D.C., Maryland, and Virginia (DMV) region each year (see 2023, 2022, 2021, and 2020) so let’s jump right into some amazing real estate that changed hands in 2024 (Note: this includes what is entered into the MLS, it’s certainly possible (likely) that expensive homes have traded hands privately outside of the MLS).
The most expensive home sold in 2024 was a $25,500,000 McLean home built in 2022, perched above the Potomac River. It edged out, this incredible home in Washington, D.C., along Foxhall Road, that sold for an even $25,000,000.
Listed by Mark Lowham, TTR Sothebys International Realty (700 Bulls Neck Road, McLean, VA 22102)
This regularly scheduled sponsored 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 Eli@EliResidential.com.
Eli and his team believe that your real estate needs should be managed by advisors, not salespeople. Their mission is to guide, educate, and advocate for their clients through real advice, hands-on support, and personalized service.
On Tuesday, January 14, I’ll be hosting another Ask Eli Home Buyer Workshop with my business partner Jean Ropp and local Loan Officer, Matt Ropp, with Atlantic Coast Mortgage. Food and drinks will be provided!
The workshop is a free and will cover:
New laws affecting buyer agent representation and commission
How to use data and strategy to maximize your home purchase
How to use market trends to your advantage
The latest on interest rates and mortgage programs/products
Common mistakes to avoid and some tips for success
Who is it for?
Any buyer type from first-time buyer to experienced buyers
Ready to purchase now or planning 12+ months out
Home buyers in Northern Virginia, D.C., or the Maryland Suburbs
You or anybody you know who would benefit
Where and When?
Tuesday, January 14 from 6-7:30 p.m.
Arlington Central Library (1015 N. Quincy Street), Bluemont Room
Registration is now open and space is limited. Click the graphic below to RSVP.
Bring your appetite and your home buying questions! I’d love to see you there. Feel free to email me at [email protected] with any questions about the event.
Ask Eli’s Buyer Workshop Jan. 14
If you’d like to discuss buying, selling, investing, or renting, don’t hesitate to reach out to me at [email protected].
If you’d like a question answered in my weekly column or to discuss buying, selling, renting, or investing, please send an email to [email protected]. To read any of my older posts, visit the blog section of my website at EliResidential.com. Call me directly at (703) 539-2529.
Eli Tucker is a licensed Realtor in Virginia, Washington DC, and Maryland with RLAH Real Estate, 4040 N Fairfax Dr #10C Arlington VA 22203. (703) 390-9460.
This regularly scheduled sponsored 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 Eli@EliResidential.com.
Eli and his team believe that your real estate needs should be managed by advisors, not salespeople. Their mission is to guide, educate, and advocate for their clients through real advice, hands-on support, and personalized service.
Merry Christmas and Hanukkah Eve! I’m grateful for another year with the opportunity to connect with you each week about real estate. The ARLnow community is wonderful and unique — thank you to Scott and the ARLnow team for building and supporting a platform that is a true community benefit.
Every year I like to reflect on what I’m most grateful for about living and working in Arlington. I also love to hear from you on the same. Here’s my list:
Diversity of Great Food
Arlington itself offers wonderfully diverse cuisines and when you add neighboring jurisdictions of Washington, D.C., Annandale, Alexandria, and Falls Church to the mix we have access to delicious international cuisine from every corner of the world within 20-30 minutes.
Passionate Neighbors
While we lack agreement on topics like Missing Middle, we do not lack passion. I appreciate how passionate both sides of the Missing Middle policy are and trust that in the long run, that passion will result in a great next generation housing policy for Arlington.
Airports
I don’t travel often, but when I do I’m grateful for our nearby national and international airports that are easily accessible by multiple modes of public and private transportation.
Parks and Recreation
No matter where you live in Arlington, you have access to an incredible network of trails, parks, and rec centers for endless outdoor enjoyment that costs nothing. Arlington’s trails and parks have given me so much joy over the years with family and friends.
Schools
Being an educator has become extraordinarily difficult and complex and I’m grateful for all the hardworking teachers, staff, and administrators who work hard, oftentimes thankless, hours keeping the Arlington Public Schools among the best in the country for our kids.
Jobs and Small Businesses
The robust and diverse job market in Arlington keeps unemployment low and the economy thriving. I’m especially thankful for all the entrepreneurs and risk-takers who fill every nook and cranny of Arlington with small businesses despite the daily challenges.
Tonya Nelson (Director of Everything): Where would I be without Tonya? She allows me to be a father, husband, and friend and keeps the ship straight every day of the week. Thanks and gratitude will never be enough.
Val Connolly (Agent): We’ve worked as colleagues and partners for a decade and she’s now building a great business around her new home in Loudoun County.
Jean Ropp (Agent): Amazing mother of two beautiful little boys and still works her tail off for clients with endless smiles and positivity.
Carolanne Korolowicz (Agent): A new mother and 6t generation Arlingtonian, I learn something interesting from her about Arlington and its history every time we talk.
Brian Wyatt (Retired): Brian and I got to spend seven years working together from the very earliest days of ERG. It was a great journey together, enjoy retirement!
From left to right: Jean, Val, Tonya and Carolanne
If you’d like to discuss buying, selling, investing, or renting, don’t hesitate to reach out to me at [email protected].
If you’d like a question answered in my weekly column or to discuss buying, selling, renting, or investing, please send an email to [email protected]. To read any of my older posts, visit the blog section of my website at EliResidential.com. Call me directly at (703) 539-2529.
Eli Tucker is a licensed Realtor in Virginia, Washington DC, and Maryland with RLAH Real Estate, 4040 N Fairfax Dr #10C Arlington VA 22203. (703) 390-9460.
This regularly scheduled sponsored 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 Eli@EliResidential.com.
Eli and his team believe that your real estate needs should be managed by advisors, not salespeople. Their mission is to guide, educate, and advocate for their clients through real advice, hands-on support, and personalized service.
On Tuesday, January 14, I’ll be hosting another Ask Eli Home Buyer Workshop with my business partner Jean Ropp and local Loan Officer, Matt Ropp, with Atlantic Coast Mortgage. Food and drinks will be provided!
The workshop is a free and will cover:
New laws affecting buyer agent representation and commission
How to use data and strategy to maximize your home purchase
How to use market trends to your advantage
The latest on interest rates and mortgage programs/products
Common mistakes to avoid and some tips for success
Who is it for?
Any buyer type from first-time buyer to experienced buyers
Ready to purchase now or planning 12+ months out
Home buyers in Northern Virginia, D.C., or the Maryland Suburbs
You or anybody you know who would benefit
Where and When?
Tuesday, January 14 from 6-7:30 p.m.
Arlington Central Library (1015 N. Quincy Street), Bluemont Room
Registration is now open and space is limited. Click the graphic below to RSVP.
Bring your appetite and your home buying questions! I’d love to see you there. Feel free to email me at [email protected] with any questions about the event.
Ask Eli’s Buyer Workshop Jan. 14
If you’d like to discuss buying, selling, investing, or renting, don’t hesitate to reach out to me at [email protected].
If you’d like a question answered in my weekly column or to discuss buying, selling, renting, or investing, please send an email to [email protected]. To read any of my older posts, visit the blog section of my website at EliResidential.com. Call me directly at (703) 539-2529.
Eli Tucker is a licensed Realtor in Virginia, Washington DC, and Maryland with RLAH Real Estate, 4040 N Fairfax Dr #10C Arlington VA 22203. (703) 390-9460.
This regularly scheduled sponsored 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 Eli@EliResidential.com.
Eli and his team believe that your real estate needs should be managed by advisors, not salespeople. Their mission is to guide, educate, and advocate for their clients through real advice, hands-on support, and personalized service.
Question: If somebody slips and gets hurt on the icy sidewalk outside of my home, will my homeowner’s insurance cover medical bills?
Answer: Winter introduced a slew of risks for homeowners, many of which can be managed through proper insurance coverage and planning (don’t forget to winterize your exterior plumbing!). I talked to my go-to insurance contact, Seth Kutner of ACO Insurance ([email protected]) about common winter claims and how they are handled by homeowners insurance.
Homeowners insurance can cover most winter-related claims if the policy is set up properly. Considering the high cost of the average insurance claim, it’s important to know what is and isn’t covered.
Trip & Fall Lawsuits
Make sure to properly clear your sidewalk area of snow and ice because you may be liable for someone tripping and falling on the sidewalk outside of your house in hazardous conditions. The liability coverage on your homeowners insurance will cover this and Seth recommends that everyone have a minimum of $500,000 in liability coverage.
Burst Pipes Due to Freezing
During the winter months, freezing pipes are a common issue that can lead to major problems. When the temperature drops, water inside your pipes can freeze, causing the pipes to expand and potentially burst. This can lead to significant water damage, expensive repairs, and the inconvenience of being without running water. To prevent freezing pipes, make sure to insulate any exposed pipes, especially those in unheated areas.
If you do experience freezing pipes, it is important to call a plumber right away to help clear the pipe. In most cases, damage caused by a burst pipe from freezing is covered by insurance, a common exception is to a vacant home with the heat off.
Wind Damage
Whether wind directly damages your home or causes a tree to fall on your home, most policies cover the resulting damage. The deductible that you pay for this type of claim may be different than your normal deductible. Depending on your policy, this could be 2-5 times larger than your normal deductible. Some insurance companies have raised these deductibles and unless you have read your declaration pages (not common), you may not be aware of the changes.
Water Backup
After snow melts, it can create a large amount of water around the house. If you have a sump-pump, make sure that your insurance policy covers “Water/Sewer Backup” or the damage caused if your sump pump fails might not be covered. This is one of the most common home insurance gaps that catches homeowners off-guard with expensive uncovered repairs.
Chimney Inspections
As the weather gets cold, many homeowners will be firing up their chimney (literally). Regular chimney inspections are essential. Over time, chimneys accumulate debris, soot, and creosote, which are not only fire hazards but can also obstruct proper airflow, leading to dangerous carbon monoxide indoors.
Regular inspections and chimney cleaning will help minimize risk, so you don’t find yourself with a fire-related insurance claim (covered) or breathing hazardous carbon monoxide.
I find that homeowners insurance is often an afterthought for many homeowners. It’s a box they check when buying a home and they choose the path of least resistance to get a policy. It’s this approach that can leave you exposed and surprised by costly uncovered insurance events.
Having a real person review and design a policy for you based on where you live, what you own, and the type of home you’re in can be extraordinarily valuable. If you need a great resource for this, reach out to Seth at [email protected].
Shoveling Snow (credit: Adobe Stock)
If you’d like to discuss buying, selling, investing, or renting, don’t hesitate to reach out to me at [email protected].
If you’d like a question answered in my weekly column or to discuss buying, selling, renting, or investing, please send an email to [email protected]. To read any of my older posts, visit the blog section of my website at EliResidential.com. Call me directly at (703) 539-2529.
Eli Tucker is a licensed Realtor in Virginia, Washington DC, and Maryland with RLAH Real Estate, 4040 N Fairfax Dr #10C Arlington VA 22203. (703) 390-9460.
This regularly scheduled sponsored 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 Eli@EliResidential.com.
Eli and his team believe that your real estate needs should be managed by advisors, not salespeople. Their mission is to guide, educate, and advocate for their clients through real advice, hands-on support, and personalized service.
Question: I’ve noticed that the market has slowed down quite a bit the last few months. Is that a sign that the market is finally turning?
Answer: I hope everybody had a wonderful Thanksgiving. Last week, I asked everybody to vote on whether you should start eating your Thanksgiving meal before 5 p.m. or 5 p.m. or later. With 825 total votes, 77% of you said the meal should start before 5 p.m. and 23% voted for 5 p.m. or later. We aimed to start our meal at 4 p.m., but ended up starting at 5 p.m.
Will The Slow Market Continue into 2025?
Like clockwork, the second half of the year is slower than the first half (except when COVID flipped 2020 upside down) and it gets especially slow in the 4th quarter as focus shifts to holidays, family/friend time, and travel. This period of seasonal slowness consistently succeeds in lulling the market to sleep, resulting in predictions that whatever economic/housing headwinds exist at the time (high rates, rattled economy, affordability crisis, etc) will result in a down housing market the following year.
These predictions are consistently wrong, and the market usually proves that within the first few weeks of the new year.
The Data Says Prepare for a Rapid Increase in Demand
The data in the chart below is collected from Arlington sales going back to 2019, sans 2020 data and new construction. It shows market performance based on the week that properties go under contract based on the percentage of properties selling over the original ask, percentage of properties selling at or over the original ask, and the percentage of properties selling within ten days on market (my preferred measure of market speed).
The highlight of the chart is how rapidly the market shifts in January, relative to the previous 1-2 months. By the third week of January, the market is moving faster than it has in over three months and by the fourth week of the year, the market is experiencing stronger performance than it has in nearly every week over the past six months.
Only 27% of properties that go under contract in the second half of the year are over the asking price, but from the fourth week of January through May, an average of 45% of homes sell for over the asking price.
For buyers in the market, it’s important to also prepare for just how quickly homes will start selling. In the last seven weeks of the year, only 33% of homes were going under contract in the first ten days, but that jumps to over 46% by the third week of January and by early February over 50% of homes sell within the first ten days on market and the pace hovers around 60%-70% through May.
These percentages will vary based on the market conditions of a given year, but the important takeaway is how quickly demand shifts in the new year relative to the end of the prior year. As a reminder, Q4 ’22 to Q1 ’23, a period many predicted would result in a continuation of a slow/down market, delivered us the most significant whiplash effect through a new calendar year we have seen.
Contract Week Performance
You can see a similar shift in market conditions in this chart from Altos Research showing the percentage of properties in Arlington on market that have had a price decrease. The steep drops you see start when the calendar turns to January.
Properties With Price Decrease
If you’d like to discuss buying, selling, investing, or renting, don’t hesitate to reach out to me at [email protected].
If you’d like a question answered in my weekly column or to discuss buying, selling, renting, or investing, please send an email to [email protected]. To read any of my older posts, visit the blog section of my website at EliResidential.com. Call me directly at (703) 539-2529.
Eli Tucker is a licensed Realtor in Virginia, Washington DC, and Maryland with RLAH Real Estate, 4040 N Fairfax Dr #10C Arlington VA 22203. (703) 390-9460.
This regularly scheduled sponsored 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 Eli@EliResidential.com.
Eli and his team believe that your real estate needs should be managed by advisors, not salespeople. Their mission is to guide, educate, and advocate for their clients through real advice, hands-on support, and personalized service.
Happy Thanksgiving ARLnow!
Eli Residential Group has donated $500 to Arlington Food Assistance Center (AFAC) on behalf of ARLnow readers to support their mission to feed our neighbors. I’m grateful for you all.
Every Thanksgiving I ask the hard questions and poll ARLnow readers on Thanksgiving preferences:
In 2022, votes came in 291 for Dark Meat and 290 for White Meat — amazing (that 290 people are wrong)!
In 2023, 470 voted for Pumpkin Pie, 310 voted for Apple Pie, and 280 voted for Pecan Pie
This year, I’m back with another critical poll question:
Two Awesome, Local Businesses
I would like to shoutout two awesome local businesses that supported our annual client event. Acme Pie Co handmade 182 incredible pies for our clients. Interestingly enough, they chose pies in the exact opposite order of preference as ARLnow readers voted in 2023 — our clients ordered 75 pecan, 71 apple, and 36 pumpkin. Get yourself an Acme pie, you will thank me. They also do slices and other treats at their bar.
Thanksgiving pies (photo via Acme Pie Co.)
We hosted the pie pick-up at the recently opened Parciti indoor/virtual golf. They’ve got seven high-end golf simulators, and our clients had a blast playing. If you haven’t visited and are looking for a fun activity with friends/family over the holidays, give them a visit. The simulators have about 1,000 different courses, including many of the world’s most famous tracks. And the best part — when you shank your drive into the trees, you don’t have to go searching for it.
Both businesses are along The Pike and have endured 12-18 months of non-stop road and utility work, along with all the other awesome, mostly local/family-owned businesses along The Pike that all deserve our patronage. If you like supporting small, local businesses in your community and Pike business and restaurants aren’t usually on your radar, consider adding them to your rotation this holiday season.
If you’d like to discuss buying, selling, investing, or renting, don’t hesitate to reach out to me at [email protected].
If you’d like a question answered in my weekly column or to discuss buying, selling, renting, or investing, please send an email to [email protected]. To read any of my older posts, visit the blog section of my website at EliResidential.com. Call me directly at (703) 539-2529.
Eli Tucker is a licensed Realtor in Virginia, Washington DC, and Maryland with RLAH Real Estate, 4040 N Fairfax Dr #10C Arlington VA 22203. (703) 390-9460.
This regularly scheduled sponsored 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 Eli@EliResidential.com.
Eli and his team believe that your real estate needs should be managed by advisors, not salespeople. Their mission is to guide, educate, and advocate for their clients through real advice, hands-on support, and personalized service.
Question: What are you currently seeing in the Northern Virginia housing market?
Answer: Before I jump into some trend comparisons of the Northern Virginia and Arlington housing markets, I want to remind you that it’s normal for the market to slow down this time of year and it’s easy to be lulled into thinking the seasonal slowdown is indicative of a larger market turn, but like clockwork the market usually snaps back into form by mid/late January (see this article for details).
With that said, this week I’d like to look at some multi-month trends that I’m watching in Northern Virginia and compare the overall Northern Virginia market to the much smaller Arlington market.
Northern Virginia Months of Supply Trending Up
Months of Supply (MoS) is a great measure of supply and demand. Lower MoS means a stronger market for sellers. Northern Virginia and Arlington had similar rock-bottom MoS in 2022, particularly for detached homes, but after interest rates spiked, Arlington quickly hit 1.5-2 MoS and has mostly stabilized in that range.
Northern Virginia has taken a more gradual path to increasing MoS, but has seen more rapid increases to MoS in recent months, which means buyers have gotten modest relief. Arlington and Northern Virginia are now seeing similar MoS levels, but Northern Virginia is trending up at a faster rate and I’ll be watching closely in early 2025 to see if Northern Virginia MoS starts to exceed Arlington’s (I think it will).
Months of Supply | Northern VirginiaMonths of Supply | Arlington County
Supply Up in Northern Virginia, Down in Arlington
Supply (homes listed for sale) is up for seven straight months in Northern Virginia, which is slightly good news for buyers, but still a long way to go before we get back to pre-pandemic levels (currently about half of where we were).
This regularly scheduled sponsored 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 Eli@EliResidential.com.
Eli and his team believe that your real estate needs should be managed by advisors, not salespeople. Their mission is to guide, educate, and advocate for their clients through real advice, hands-on support, and personalized service.
Thank you to all who have served and to their families who have sacrificed or lost loved ones for our freedom.
The Eli Residential Group will be donating $1 for each vote on the three Veterans charities in the poll below (up to $1,500). So vote and share!
If you’d like to discuss buying, selling, investing, or renting, don’t hesitate to reach out to me at [email protected].
If you’d like a question answered in my weekly column or to discuss buying, selling, renting, or investing, please send an email to [email protected]. To read any of my older posts, visit the blog section of my website at EliResidential.com. Call me directly at (703) 539-2529.
Eli Tucker is a licensed Realtor in Virginia, Washington DC, and Maryland with RLAH Real Estate, 4040 N Fairfax Dr #10C Arlington VA 22203. (703) 390-9460.
This regularly scheduled sponsored 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 Eli@EliResidential.com.
Eli and his team believe that your real estate needs should be managed by advisors, not salespeople. Their mission is to guide, educate, and advocate for their clients through real advice, hands-on support, and personalized service.
Question: We are looking forward to buying a home next year. Do you have any recommendations on how we should start the home buying process?
Answer: If you Google “home buyer tips” or “what to know before buying a home” you’ll find plenty of advice on the topic, so I’ll include some suggestions I don’t usually see online and put my own spin on some of the more common advice.
Length of Ownership
How long you expect to live in your home is one of the most important factors in defining what you prioritize and how you use your budget. You should focus on the following:
Likely length of ownership
Difference in criteria for a 3-5 year house vs a 10-12+ year house
Difference in budget requirements for a 3-5 year house vs a 10-12+ year house
Appreciation is not guaranteed and difficult to predict, but the value of longer ownership periods is undisputed. One way longer ownership adds value is the potential for eliminating one or more real estate transactions over your lifetime, thus the associated costs (fees, taxes, moving expenses, new furniture, etc.) and stress that comes with moving.
If you have an opportunity to significantly increase your length of ownership by stretching your budget, you generally should. On the other hand, if your budget or future (e.g. job will move you in a few years) restrict you to housing that’s likely to be suitable for just 3-4 years, it’s generally better to stay under budget.
This regularly scheduled sponsored 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 Eli@EliResidential.com.
Eli and his team believe that your real estate needs should be managed by advisors, not salespeople. Their mission is to guide, educate, and advocate for their clients through real advice, hands-on support, and personalized service.
Question: Should Virginia pass a law that gives buyers a non-negotiable due diligence period?
Answer: The last few years have ushered in complex and difficult debates locally and nationally about housing and what the role of federal, state, and local government should be in private housing. Nationally, we are dealing with an affordability crisis and locally we’ve debated Missing Middle/EHO.
To me, the most critical and interesting questions center around what government’s role should be in private housing and what, if any, responsibility does government have to homebuyers and sellers. That applies to a wide range of housing-related issues including but certainly not limited to taxation, zoning, insurance, Realtor commissions, and affordability.
Don’t worry, I don’t have a death wish and am not about to open a conversation about government, free markets, and housing affordability a week before the election. This is (hopefully) a more subdued topic.
Buyers Are Foregoing All/Most Due Diligence
One of the unfortunate results of our highly competitive housing market over the last 5+ years is the amount of protection and due diligence buyers have given up purchasing a home. In many home purchases, especially single-family detached, buyers are foregoing inspections and financing/appraisal contingencies to compete. It often shocks me on my listings how many buyers choose not to do a home inspection, even in scenarios where a pre-inspection (inspection conducted prior to making an offer) is possible.
Buyers accepting the risk (sometimes significant risk) of no contingencies (contractual protections) is somewhat of a catch 22 — they do it because other buyers they’re competing against are doing it and they in turn become the buyers that cause other buyers to make similar decisions. When the market is at its most competitive (generally the first half of the year), I would estimate that at least 2/3 of homes (probably more) in Northern Virginia that go under contract within the first week on market (most homes) do not have any contingencies and many of those buyers never do a home inspection.
Should Due Diligence Laws Be Passed?
Until we move into a less competitive market, which seems a long way off due to systemic supply issues and robust demand in Northern Virginia/D.C. Metro, I don’t see this pattern of homebuyer risk changing in a meaningful way.
So, I wonder out loud (and via the poll below) — should Virginia pass a law that gives every homebuyer a non-negotiable due diligence period after they’re under contract? They can use this time, at their option/cost, to conduct a home inspection, confirm a property is insurable, and more.
To provide comfort to sellers and maintain an element of the free market negotiations to this, a required due diligence period can be coupled with a non-refundable due diligence deposit if a buyer voids within this period. In a competitive market, buyers can increase this deposit to increase the value/safety of their offer. For example, a highly motivated buyer can offer a $10,000 non-refundable deposit if they void.
There’s still time to register for tomorrow’s free workshop with ARLnow real estate columnist Eli Tucker.
The event runs from 6-7:30 p.m. at Arlington Central Library’s Bluemont Room, with Eli available starting at 5:30 p.m. for one-on-one questions. Food and drinks will be provided.
