Arlington, VA

Welcome to New Homes, a biweekly column highlighting the new construction real estate market, written by Conor Sullivan and Dave Moya of Three Stones Residential at Keller Williams Realty. We are here to share our experience and expertise in lot acquisition, financing and construction of custom homes. 

Quick Ways To Make Your Home “Smart”

New construction homes are popping up everywhere in Arlington County.

These homes are beautiful and updated with all the bells and whistles of “smart-home” technology, but may not be the perfect fit for everyone. To help your home compete against the new construction in the marketplace, there are a few simple upgrades to make your home smarter, safer and more efficient.

  • Ring Doorbell: This motion activated video doorbell system allows you to view your front doorstep while you are away, or even speak to visitors remotely, all through the app. Keep an eye on packages that have been delivered, or who comes to your front doorstep while you’re not home.
  • Smart Light Bulbs: These Wi-Fi enabled LED light bulbs allow you to access the lighting in your home from anywhere using an electronic device or smart speakers. Forgot to turn that kitchen light off before leaving? No problem — turn it off from your phone!
  • Smart Speakers: Smart devices like Google Home or Amazon Echo can sync to your smart electronics via Wi-Fi letting you control them with your voice. Turn off your lights or the heat up hands free!
  • Nest Thermostat: Installing this sleek new thermostat in your home is not only visually appealing, it’s convenient! Control the thermostat remotely from your smartphone using all the Nest technology features. The device will eventually learn the climate of your home and automatically adjust the temperature when conditions change.
  • TP-Link Smart Plug: If your appliances don’t have Wi-Fi, you can use this adapter to easily control them from an app. Turn on your coffee maker before you even get out of bed!

Having these tech-savvy upgrades will not only bring your home to the 21st century and boost it’s value, it will give you peace of mind knowing you have security in place for when you’re out of town.

It could also help save money, if you forgot to turn off your lights or turn down the heat, it is now just an easy click away from your smartphone. If you have any questions about these upgrades or your home’s market value, please contact us at [email protected] or 571-429-7670.

Below is a list of new homes currently on the market in Arlington.

Want to learn more about financing a New Home build? McLean Mortgage (NMLS ID: 99665) can handle all of your construction financing needs. You can build your new home with as little as 5% down. Contact construction loan expert Troy Toureau (NMLS ID: 5618) at 301-440-4261 or AnyHomeLoans.com to learn more.

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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:

705 N. Barton Street
6 BD/5 BA single-family home
Agent: Compass
Listed: $1,795,000
Open: Sunday 2-4 p.m.

 

3228 N. Pershing Drive
4 BD/3 BA single-family home
Agent: Long & Foster Real Estate, Inc
Listed: $1,150,000
Open: Saturday 2-4 p.m.

 

1418 N. Rhodes Street, B102
2 BD/2 BA, 1 half bath condo
Agent: Kw Metro Center
Listed: $949,949
Open: Sunday 2-4 p.m.

 

5209 16th Street N.
4 BD/3 BA single-family home
Agent: Kw Metro Center
Listed: $849,900
Open: Sunday 1-3 p.m.

 

3919 7th Street S.
3 BD/2 BA single-family home
Agent: Kw Metro Center
Listed: $650,000
Open: Saturday 10 a.m.-1 p.m.

 

820 N. Pollard Street #405
1 BD/1 BA condo
Agent: Kw Metro Center
Listed: $524,900
Open: Saturday 1-4 p.m.

 

1024 N. Utah Street #325
1 BD/1 BA condo
Agent: Long & Foster Real Estate, Inc
Listed: $395,000
Open: Sunday 2-4 p.m.

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Just Listed in Arlington

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.”

Arlington’s fall real estate market appears to be getting off to a slow start.

It’s not bad. But it’s not great either.  It’s just sort of okay, which indicates something may be going on that’s not clear yet.

Sellers listed 71 homes this week, which is good. But buyers seem to be dragging their feet with only 51 ratified contracts. Of those, some 30 homes sold within seven days on the market.

Compared to last year, these numbers are ho hum. In the last three weeks of last September, buyers ratified 55, 65 and 54 contracts each week. And sellers really did their part by listing 96, 95 and 65 homes each week. Numbers tell a story.

Perhaps it has something to do with consumer confidence. The Fed on Wednesday dropped its overnight rate by .25% as a measure to bolster signs of a slowing economy. It cited concerns of a slowing global economy influenced by the US-China trade war and Britain’s exit from the European Union. The Fed wants consumers and businesses to maintain their level of spending while keeping inflation at its current rate of 1.6%

If you read this blog regularly, you may recall us telling you to grab the low mortgage rates to buy or refinance several weeks ago. Hope you followed the advice. Mortgage rates, which are NOT directly linked to the Fed rate, jumped this week with quotes varying from 3.73% to 4.01%. And they’re likely to rise more.

The good news for buyers this week is that the housing inventory level is at its highest in a year at 1.3 months. That gives buyers more to choose from, and strengthens their negotiating power

Click to see all the fresh new inventory in MRIS and call Team Cathell (703-975-2500) when you find a home you like.

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Every week the Eli Residential Group scours our network for pre-market or off-market homes to give home buyers and investors access to properties they can’t find anywhere else online.

If you are interested in a property you see here, have specific needs you cannot find on the market or would like your pre-market or off-market property featured for a half million local readers on PoPville or ARLnow, please click here to contact us.

Falls Church Special Edition for Anybody Looking for Great Value!

2015 Build
Address: Arthur Drive, Falls Church
Description: Over 4,100 sq. ft. 5 BR/4.5 BA with finished third story loft and two-car attached garage built in 2015. Main level includes a full bedroom and bathroom, with a huge living room and open kitchen. Upper level has four bedrooms, three full bathrooms and an office. Third level finished loft with a half bath. Beautiful 1/4 acre fenced, flat lot with a new shed and playground equipment.
Price: Upper $1.3M
Listed: RLAH Real Estate

Falls Church City Gem
Address: South Cherry Street, Falls Church
Description: Fantastic opportunity to buy this 4 bedroom, 3.5 bath home in Falls Church City. Built in 2000, with a low maintenance yard, private patio, attached rear-entry 2 car garage and first floor master suite, this lovely home is 3 blocks from Broad Street and about a half mile from the heart of Falls Church City, with all its convenience and home-town charm. Plus, about 1 mile to the East Falls Church Metro station and I-66 for an easy commute.
Price: ~$975,000.
Listed: RLAH Real Estate

***Contact us for property photos and additional details***

The Eli Residential Group is a real estate team with RLAH Real Estate, 2420 Wilson Blvd #101 Arlington VA 22201 (703) 390-9460. Office locations also include Dupont Circle, Georgetown, H Street and Chevy Chase. Contact the team directly at [email protected].

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There’s precious little open, developable land left in Arlington, but one of the bigger privately-owned properties is now for sale.

A 1.72 acre property at 1722 N. Glebe Road, adjacent to Glebe Elementary School and Capital Life Church, is listed for sale at $8,820,117. Previously home to Hill’s Nursery and Camellia Garden, the property includes a boarded-up house built in 1941 but is otherwise mostly trees and empty land across three connected lots.

“It’s the largest property on the market in Arlington right now, even though it’s listed online as 1.32 acres, across all three lots it’s actually 1.72,” said the listing agent, Jeena Ingraham of Samson Properties.

The asking price has been marked down from $9.9 million when it was first listed on July 23.

“Rarely available, tear-down and build in North Arlington, very close to D.C. Previously the Hill Nursery, the property is being sold as is,” the listing says, adding that it’s “7 miles from Amazon’s HQ2.”

Though the property is adjacent to Glebe Elementary, an Arlington Public Schools spokesman said the school system has no plans to purchase it.

There are also no plans for Arlington County to acquire the lots, a spokeswoman for the Arlington Dept. of Environmental Services said, even though the county has been actively trying to acquire properties for public use.

The minimum lot requirement for a single-family home in Arlington’s R-6 zoning district is 6,000 square feet, so 12 homes could potentially fit in 1.72 acres. However, it would require a lengthy subdivision process with the County, which Ingraham said she has not begun.

“We’ve had plenty of interest from investors and developers looking to build their family-home portfolio, but nothing confirmed yet,” she said.

Nearby homes listed on real estate website Redfin average in the $1 million range, suggesting that whoever purchases it will likely need to build several properties to turn a profit.

As for the owner and the nearly $9 million listing price?

“He’s a native to Arlington, and it’s his vision,” Ingraham said.

Image 1, 3 via Google Maps, Image 2 via Samson Properties

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Address: 1300 4th Street, SE, Unit 310
Neighborhood: The Yards (Navy Yard)
Listed: $729,900 for Unit 310
Open: Sunday, September 22 from 12-4 p.m.

Discover the world of possibilities waiting at The Bower, now 90% sold with only 14 units remaining.

Explore Unit 310, a 1,020 square feet, 2 bedroom 2 bath with floor-to-ceiling windows and wide-plank hardwood floors. Living at The Bower the possibilities are endless from artisan dining to nights at the ballpark, it’s all in reach at the only condos for sale at The Yards.

Listed by:
Hoffman Realty
202-869-5233
[email protected]
www.thebowerdc.com

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Each week, “Just Reduced” spotlights properties in Arlington County whose price have been cut over the previous week. The market summary is crafted by licensed broker Aaron Seekford of Arlington Realty, Inc. GET MORE out of your real estate investment with Aaron and his team by visiting www.arlingtonrealtyinc.com or calling 703-836-6116 today!

Please note: While Aaron Seekford provides this information for the community, he may not be the listing agent of these homes.

In case you haven’t heard, we have a big, new neighbor: Amazon.

Yesterday (Tuesday, September 17), the company held a career day in Crystal City. Currently, according to the Washington Post, there are currently 170 Amazon jobs open in Arlington and the company has a goal of hiring 400 folks in the county by year’s end.

Surely, there will be more career fairs and more employment openings as construction begins on its HQ2 in the first quarter of 2020. We’ll certainly keep an eye on it and keep you in the loop.

In the meantime, the “Amazon Effect” in our area remains strong, with Arlington and Alexandria recently topping Redfin’s list of the most competitive real estate markets in the nation.

To navigate these interesting (and exciting!) times, you’ll need a reliable team advocating for you. When you’re ready to roll, Arlington Realty has been the area’s family-owned, trusted choice since 1984. Let’s make your real estate dreams a reality, regardless of what end of a transaction you may be on.

As of September 16, there are 149 detached homes, 29 townhouses and 105 condos for sale throughout Arlington County. In total, 22 homes experienced a price reduction in the past week:

Please note that this is solely a selection of Just Reduced properties available in Arlington County. For a complete list of properties within your target budget and specifications, contact Aaron Seekford.

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This regularly-scheduled sponsored Q&A column is written by Eli Tucker, Arlington-based Realtor and Arlington resident. Please submit your questions to him via email for response in future columns. Enjoy!

Question: How fast are homes selling in Arlington this year and how does that compare to previous years?

Answer: Days on Market measures the number of days between a home being listed for sale and when it goes under contract. Low days on market is one of the leading indicators of a hot market and signals future price appreciation.

The most common way to measure this is average or median Days on Market, currently 33 days and 9 days over the last six months in Arlington, but I also like to track the percentage of homes that go under contract within the first ten days. I generally find that this metric gives buyers and sellers a better feel of the market.

Fast & Furious 2019

The percentage of homes that go under contract within ten days has skyrocketed in 2019, doubling the rate seen in 2015 and 2016. Below, you can see how demand for South Arlington homes has been increasing relative to North Arlington over the last three years, not just since the Amazon HQ2 announcement in November 2018.

The table below breaks the market down a bit further by number of bedrooms within each market. Note the incredible demand of one and two bedroom homes (mostly condos) in South Arlington, with well over 80% going under contract within ten days. Even more impressive is that only about 25% of one bedroom South Arlington properties were selling within ten days as recently as 2015 and 2016. If you bought one before the madness, congratulations!

Prepare To Pay

Sellers control the negotiations during the first ten days of a sale and the price paid on homes going under contract within the first ten days reflect that, with an average purchase price well above the asking price.

The table below breaks the market down a bit further by number of bedrooms within each market. It is based on net sold price (sold price less any seller credits). In South Arlington, homes that go under contract within the first ten days on market are averaging a net sold price nearly 2% higher than the seller’s asking price.

One important takeaway from this data is that in 2019 buyers making an offer on a property that has recently hit the market have become accustomed to including escalations, which is why you see average prices well above the asking price.

What Does It Mean?

Unsurprisingly, some national studies have determined that Arlington and Alexandria are the country’s hottest real estate markets. That’s great news for home owners, especially those looking to make a move into a less expensive market, renting, or downsizing. The frustration for buyers comes from all sides as well. There’s very little inventory to choose from and, as detailed above, good inventory moves quickly and for a premium.

If you’re considering selling, it’s important to understand just how high you can price your home without overpricing and missing the market, which can lead poor results.

If you’re hoping to buy a home, planning and preparation are critical. Despite the market conditions, I have worked with a lot of buyers this year who have found success in Arlington, but it requires the right approach.

I am available every day of the week to meet or schedule a call if you’d like to discuss your options to buy, sell, or rent in Arlington or the surrounding Northern Virginia, D.C., and Maryland Suburb communities. Just send me an email at [email protected] to schedule some time to talk.

If you’d like a question answered in my weekly column or to set-up an in-person meeting to discuss local real estate, please send an email to [email protected]. To read any of my older posts, visit the blog section of my website at www.EliResidential.com. Call me directly at (703) 539-2529.

Eli Tucker is a licensed Realtor in Virginia, Washington D.C., and Maryland with Real Living At Home, 2420 Wilson Blvd #101 Arlington, VA 22201, (202) 518-8781.

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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:

2815 N. Lexington Street
6 BD/ 5 BA, 2 half bath single-family home
Agent: Coldwell Banker Residential Brokerage
Listed: $1,999,000
Open: Sunday 2-4 p.m.

 

1511 N. Rolfe Street, A101
2 BD/2 BA, 1 half bath condo
Agent: Redfin Corporation
Listed: $1,050,000
Open: Sunday 1-3 p.m.

 

2310 S. Dinwiddie Street
4 BD/3 BA single-family home
Agent: Long & Foster Real Estate, Inc
Listed: $859,999
Open: Sunday 1-3 p.m.

 

1126 N. Randolph Street
3 BD/3 BA villa/townhouse
Agent: Redfin Corporation
Listed: $760,000
Open: Saturday 1-4 p.m.

 

744 S. Granada Street
3 BD/2 BA, 3 half bath villa/townhouse
Agent: Keller Williams Realty
Listed: $619,000
Open: Sunday 1-4 p.m.

 

2848 S. Abingdon Street
2 BD/2 BA condo
Agent: Kw Metro Center
Listed: $499,900
Open: Sunday 2-4 p.m.

 

2725 S. Walter Reed Drive, B
2 BD/1 BA condo
Agent: Redfin Corporation
Listed: $378,000
Open: Sunday 1-4 p.m.

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Morning Notes

GMU to Expand Va. Square Campus — “George Mason University wants to transform its Arlington campus into an ‘innovation district’ as it kicks off an Amazon-inspired overhaul… Mason expects to use the expansion to add 3,000 to 4,000 graduate students to the campus by 2024.” [Washington Business Journal]

Man Arrested For Assaulting Police in Ballston — “At approximately 8:32 p.m. on September 11, police were dispatched the report of a disorderly subject inside a restaurant who had allegedly been throwing items and threatening staff. Upon police arrival, the business staff requested the subject be banned from the property. While speaking with the subject, he threatened an officer and took a defensive stance. While placing him under arrest, the subject became combative, kicked and spit at the officers.” [Arlington County]

Home Inventory Tight in Arlington — “New listings in Arlington declined 16.5% in August compared with last year, said Chris Finnegan, vice president at Bright MLS. The median sale price for all home types in the 22202 ZIP code, where Amazon is building and staffing up HQ2, was $749,000 in August. It’s a 23% jump since the company made its HQ2 announcement in November 2018.” [Washington Business Journal, InsideNova]

Coffee Beanery Open in Va. Square — Coffee Beanery, a coffee chain with locations across the northeast, has opened a new location at 3444 Fairfax Drive in Virginia Square. [Facebook]

Tech Company Picks Arlington for U.S. HQ — ” Varjo, the technology leader in industrial-grade VR/XR headsets, today announced the opening of its U.S. headquarters… in Arlington, Virginia, located just outside of Washington D.C.” [Varjo via Potomac Tech Wire]

Potomac Kempo Now Open — Martial arts studio Potomac Kempo yesterday held a grand opening ceremony for its fifth location, at 3650 S. Glebe Road, in the Potomac Yard area. The studio started holding classes on Aug. 31, we’re told. [Facebook]

Video: USS Arlington Crew Welcomed at Fire Station — “Crew members from the USS Arlington were welcomed at Arlington’s Fire Station 5 before running in the The Arlington Police, Fire & Sheriff 9/11 Memorial Race. The USS Arlington honors the 184 victims and the thousands of emergency, fire and rescue personnel of Arlington County and localities in the National Capital Region who provided critical emergency assistance after the attack on 9/11.” [YouTube]

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Just Listed in Arlington

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.”

Arlington’s real estate market picked up some steam this week as we head into a typically strong fall market.

Sellers did their part by listing 72 homes, while buyers ratified 48 contracts. That’s an improvement over last week’s 45 ratified contracts, but I would have expected much more this week.

The week started with interest rates taking some leaps. The 30-yr fixed rate mortgage went from 3.5% last week to 3.625%-3.75% early this week. Despite the uptick, the number of mortgage purchase loan applications so far this month is up 9% over last year, according to Freddie Mac.

So far, all the media talk about a possible recession around the corner hasn’t hurt our housing market locally. One of the first indicators that our local market is slowing is the number of sales in luxury homes. Higher end sales are doing well. Last summer, there were 88 homes that sold for $1.2 million or more. This summer, there were 106 sales, and the days on market dropped from 92 to 45. However the average sales price also dropped a bit from $1,639,246 last summer to $1,609,176.

Buyers should be happy to hear that Arlington’s inventory has improved. Just a few months ago, there was less than 1 months supply, meaning at that pace of sales there would be no homes left to buy if nothing else was listed. This week the inventory is now 1.4 months, a big improvement.

Click to see all the fresh new inventory in MRIS and call Team Cathell (703-975-2500) when you find a home you like.

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