Arlington, VA

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:

4503 32nd Road N.
5 BD/6 BA, 2 half bath single-family home
Agent: Long & Foster Real Estate, Inc
Listed: $3,675,000
Open: Virtual Tour/Sunday 10 a.m.-4 p.m.

 

5413 5th Street S.
4 BD/3 BA, 1 half bath single-family home
Agent: Compass
Listed: $950,000
Open: Virtual Tour

 

1024 N. Utah Street #224
2 BD/2 BA condo
Agent: Weichert Realtors
Listed: $570,000
Open: Saturday 3-4 p.m.

 

1200 Crystal Drive #514
2 BD/1 BA condo
Agent: Optime Realty
Listed: $499,900
Open: Sunday 2-4 p.m.

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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 Arlington Realty, Inc. Maximize your real estate investment with the team by visiting www.arlingtonrealtyinc.com or calling 703-836-6000 today!

Please note: While Arlington Realty, Inc. provides this information for the community, it may not be the listing company of these homes.

This certainly isn’t the average April Fool’s Day.

If only we could all wake up and this whole COVID-19 be a form of a really, really bad joke.

But unfortunately, it isn’t at all, and our complete gratitude and thoughts remain with those on the frontlines as well as those affected by this pandemic. We are seeing heroism in so many forms on a daily basis, spanning our doctors, nurses, grocery store attendants, bankers and so many more folks.

During these times, it’s important to maintain some semblances of normalcy, whether it’s finding a moment to share a laugh with loved ones or listening to your favorite tunes.

Amid the crisis, Arlington Realty Inc. will be here for you, just as in times of elation and crises past throughout the decades. And, for now and showing no signs of slowing down, we’re continuing to see a regular rhythm of Just Reduced properties to share with you.

Stay safe out there, friends, and here’s the latest scoop:

As of March 30, there are 146 detached homes, 26 townhouses and 79 condos for sale throughout Arlington County. In total, 9 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 Arlington Realty, Inc.

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Address: 1515 S Arlington Ridge Rd Unit 506
Neighborhood: Pentagon City
Listed: $424,900

Light-filled 900 sq. ft. corner unit with views of the Washington Monument. Walking distance to Metro, Amazon HQ2 and the Pentagon.

A huge, updated kitchen with tons of counter space and plentiful storage. The bedroom offers two walk-in closets each with custom shelving, a dual vanity in the bathroom,and an unobstructed view of the Washington Monument! Other highlights include concrete floors/ceilings between units (limits sound), in-unit washer/dryer, and added sound insulation in the walls.

Walk to Metro, Amazon HQ2, the Pentagon, Pentagon City Mall, parks, restaurants, Whole Foods and Costco, coffee shops, fitness studios, library, bike paths and so much more! Metro Bus pick-up in front of the building goes directly to the Pentagon Metro. Minutes by car to Washington D.C., National Airport, Rosslyn-Ballston Corridor, Tysons, Old Town Alexandria and most major Northern Virginia roadways.

Building amenities include an outdoor swimming pool, gym with sauna, gas and charcoal grills, party room and a community garden. One assigned garage parking space and one private storage unit convey. Pet friendly!

For the history buff, this building and the land it sits on is steeped in US History, from the Civil War through the Cold War. Personal virtual showings available upon request. More details at NationalLandingCondos.com!

Listed by:
Eli Tucker
RLAH Real Estate
(703) 539-2529
[email protected]
EliResidential.com

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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: What has been the impact of the Coronavirus/COVID-19 on the real estate market?

Answer: I hope you and your families are healthy and finding some productive ways to remain safely at home. It’s been great to see so much carryout and delivery activity at local restaurants, I hope we can keep our favorite establishments in business.

I want to shout out the Sunday evening manager at the South Arlington Ledo Pizza for the way he was expressing constant, sincere appreciation to every employee hard at work and each customer who came in. It was refreshing to hear such positivity.

This week I’ll cover some real-time market updates and take a look at how past recessions have impacted real estate.

March 30 Stay At Home Order — Executive Order 55

Yesterday afternoon, Governor Northam announced EO 55, at Temporary Stay At Home Order due to COVID-19 to further discourage gatherings and personal contact.

There was an immediate concern across the real estate community that the new order effectively shut down all real estate operations, but soon after Northam’s announcement, the Northern Virginia Association of Realtors (NVAR) and the Virginia Association of Realtors (VAR) announced that under EO 55, real estate business may continue to operate using best practices for social distancing and other measures recommended by the CDC, as well as avoiding any gatherings of 10+ people. Here is a link to the official NVAR comments.

That means that as of this morning showings, inspections, appraisals, closings, lending and other activities critical to a real estate transaction are all still allowed in Virginia/Northern Virginia. Public Open Houses are strongly discouraged and many companies have suspended them.

Personally, I think showings are the most questionable activity because you can make a strong case in both directions. If somebody needs to find a home, it’s fair to say that they need to see the home in person before making an offer. On the flip side, somebody seeing five properties on a Saturday afternoon to prepare for a purchase 6 months from now should not be out on showings. There’s certainly a level of personal responsibility required here.

Arlington Market Update

It seems that much of the Arlington and Northern Virginia market has softened in the past week. This is based on further decreases in showing activity and the negotiations I’ve been directly involved in or aware of via colleagues. We won’t have actual price data available for another 3-4+ weeks when homes start closing that were placed under contract during the COVD-19 lockdown period.

New inventory continued to flow into the market, but was down from the previous week. A healthy 63 homes went under contract, showing that there are still buyers out there, but many of them are likely securing better terms than they would have a month ago, and facing much less competition.

Showing activity is unsurprisingly very low, with the average showings per listing dropping to 2.25 over the past week. With an average of about 15 showings before a ratified contract, expect average days on market to start increasing. However, the showings that are taking place tend to be to ready-buyers so it should take fewer showings than it used to for the right buyer to surface.

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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:

4925 Old Dominion Drive
6 BD/5 BA, 1 half bath single-family home
Agent: Optime Realty
Listed: $1,600,000
Open: Sunday 2-4 p.m.

 

421 N. Upton Court
4 BD/4 BA, 1 half bath villa/townhouse
Agent: Optime Realty
Listed: $1,035,000
Open: Virtual Tour/Sunday 2-4 p.m.

 

3625 10th Street N. #401
2 BD/2 BA, 1 half bath condo
Agent: Re/Max Allegiance
Listed: $890,000
Open: Sunday 11 a.m.-1:30 p.m.

 

2819-D S. Woodrow Street #4
2 BD/2 BA, 1 half bath condo
Agent: Redfin Corporation
Listed: $449,900
Open: Virtual Tour/Sunday 1-1:45 p.m., 2-2:45 p.m.

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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.

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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 Arlington Realty, Inc. Maximize your real estate investment with the team by visiting www.arlingtonrealtyinc.com or calling 703-836-6000 today!

Please note: While Arlington Realty, Inc. provides this information for the community, it may not be the listing company of these homes.

We’ve seen quite an uptick of Just Reduced homes in recent weeks.

Riding an incredible wave of news, with Amazon’s local HQ2 announcement leading the charge, the Just Reduced options were few and far between in 2019.

Here in 2020, amid the COVID-19 crisis, the numbers are telling us that more folks are willing to budge in terms of preliminary pricing to get their homes officially sold.

You’re living the daily headlines and it likely goes without saying: These are incredibly volatile times.

It’s never been more important to fully understand the value of the property you possess or, perhaps, the investment you’re about to make.

That’s where we, Arlington Realty, Inc., can step in and provide professional guidance. We’ve weathered some storms throughout the decades, and we have no doubt that we’ll weather this one and come out stronger. But, for the time being, we’re here to help you make an informed decision.

And, now on to this week’s facts and figures:

As of March 16, there are 144 detached homes, 27 townhouses and 75 condos for sale throughout Arlington County. In total, 16 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 Arlington Realty, Inc.

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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: What has been the impact of the Coronavirus/COVID-19 on the real estate market?

Answer: I hope you are all staying healthy and sane(ish). My wife and I are trying to wrap our heads around school being canceled through the end of the academic year… yay!

Over the last two weeks, my Coronavirus columns (one and two) have included mostly anecdotal evidence on the impact of COVID-19 on the real estate market, but now we’ve been in this for long enough that I can start using market data to measure the true effects. It will be at least a few more weeks before we can measure the effect on prices, but we can look at things like supply, showing activity and contract activity now.

What I’m Seeing/Hearing

This past weekend, most Open Houses were canceled and over the last week showing activity has dropped off dramatically. However, there are still plenty of active, motivated buyers making offers. What I’m seeing/hearing right now in the D.C. Metro market is that competition is down, prices haven’t taken much of a hit (yet), and new listings are still coming onto the market.

Mortgage rates had their most volatile week ever last week as investors basically stopped buying mortgages on the secondary market, but the Fed stepped in and has promised to stabilize the market until our economy (hopefully) returns to normal. Here are two (one and two) good reads on what happened last week to mortgages.

Impact On The D.C. Area Economy

While not real estate specific, I want to share the excellent work of Jeannette Chapman, Director of the Stephen S. Fuller Institute at our very own George Mason University, which takes an in-depth look at how Coronavirus is likely going to impact the D.C. area economy, based on current projections. Notably, they determine that the D.C. area will not be as insulated from this recession as the 2008 financial crisis. Be smart, be careful with your money folks.

While I’m slightly off the topic of real estate, I wanted to share a great website for tracking global and domestic COVID-19 data in real time, with helpful visuals. This website was shared with me by Arlington resident/Mom Elissa David, who owns the Unbroken Body to help Moms heal their bodies after pregnancy. She has temporarily turned her website into a resource for all of us parents who have suddenly become home school teachers!

Now let’s jump into some relevant real estate market data.

Market Data

SUPPLY

The number of new listings this past week in Arlington jumped 27% over the same week last year and 6% over two weeks ago. The D.C. Metro experienced less dramatic increases in new listings, but increases nonetheless.

Anecdotally, it seems many homeowners who were planning to sell in the next 4-8 weeks are accelerating their timeline, fearing the uncertainty of the future economy. A boost in inventory from motivated sellers while demand continues to fall (see below) could lead to a drop in prices in the near future.

Nationwide, the number of listings pulled off the market spiked over the past week.

Nationwide Data

SHOWINGS

The average number of showings per listing in Arlington (first chart) have dropped each of the last four weeks from 10.44 showings four weeks ago to 2.91 showings this past week.

Showings in Washington, D.C. have dropped by 41.4% compared to this time last year. The tool I have to generate this data only offers statewide info, so I chose to use Washington, D.C. (yes, I know it’s not a state) instead of Virginia because the Washington, D.C. market is much more reflective of Northern Virginia than the Virginia market. Showings are down 32.9% across North America.

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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:

3616 N. Upland Street
7 BD/7 BA, 1 half bath single-family home
Agent: Keller Williams Realty
Listed: $2,499,00
Open: Virtual Tour/Sunday 2-4 p.m.

 

1732 N. Veitch Street
6 BD/5 BA, 1 half bath single-family home
Agent: Keller Williams Realty Falls Church
Listed: $1,599,00
Open: Virtual Tour/Sunday 2-4 p.m.

 

872 N. Frederick Street
4 BD/4 BA single-family home
Agent: Keller Williams Capital Properties
Listed: $1,199,000
Open: Saturday 1-3 p.m.

 

4207 7th Road S.
4 BD/2 BA, 2 half bath single-family home
Agent: Compass
Listed: $875,000
Open: Virtual Tour/Sunday 1-4 p.m.

 

5245 5th Street N.
4 BD/2 BA single-family home
Agent: Keller Williams Realty
Listed: $735,00
Open: Virtual Tour/Sunday 1-4 p.m.

 

1927 N. Edison Street
3 BD/1 BA single-family home
Agent: Century 21 New Millennium
Listed: $650,000
Open: Virtual Tour/Sunday 12-2 p.m.

 

4863 28th Street S.
2 BD/2 BA condo
Agent: Re/Max Allegiance
Listed: $524,900
Open: Virtual Tour/Sunday 2-4 p.m.

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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.

The impacts of this pandemic are apparent in many ways — walking through Home Depot and an Arlington grocery store yesterday, the feelings of fear, uncertainty and distrust were palpable.

With that said, it’s been great to see so many people enjoying their time off from work — I have seen more bikers, walkers and runners than ever before! Silver lining of this pandemic? Spring is here!

The impacts to the real estate market are starting to emerge, but first signs are not what I expected. We’re seeing lots of special instructions for house listings including limiting the number of people accompanying on a home tour, requests of everyone to wash hands as soon as they arrive and limited showing hours. Some brokerages are canceling open houses until further notice, but others are going on as planned.

This is of course uncharted territory and things are changing daily. With that said, one thing remains very true about housing in general, and that is that people need housing.

Many things are grinding to a halt-school is out, the stock market is tanking, restaurants are closing-but many things don’t stop. Many leases will still be coming to an end this spring and families will need to keep a roof over their head. Mortgage interest rates are phenomenal, and buyers would love to lock in a low monthly payment on a great Arlington residence for the next 30 years.

Fundamental drivers of the housing market — major life events such as job changes (or, around here, military orders), births and deaths, marriage or divorce, and growing kids will necessitate buying and selling real estate.

At some point in the hopefully not-too-distant future, COVID-19 will be in the past and we’ll resume life as normal.

There are currently 202 homes for sale in Arlington. 115 are detached homes, 19 are townhouses/semi-detached, and 68 are condos. Median list price of available properties is $999,450, while the average is $1,193,867.

Sellers listed some 84 properties for sale this week. Buyers ratified 52 contracts, 33 of which were homes that had been on the market one week or less.

PICK OF THE WEEK — The Andors Real Estate Group is proud to have Just Listed a charming 1940’s all-brick Colonial in historic Bon Air! This south-facing 4 bedroom, 2 bathroom home sits on a flat 6,000 sq. ft. lot and is packed with character — $735,000.

You can find me hosting this property open on Sunday, March 22 from 1-4 p.m. I may remind you to wash your hands.

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.

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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 Arlington Realty, Inc. Maximize your real estate investment with the team by visiting www.arlingtonrealtyinc.com or calling 703-836-6000 today!

Please note: While Arlington Realty, Inc. provides this information for the community, it may not be the listing company of these homes.

Needless to say, these are certainly interesting times.

On behalf of the Arlington Realty, Inc. team, we’re continuing to keep our community, state and nation at the top of our thoughts.

We encourage our neighbors to be safe out there and adhere to the latest recommendations as made by the Centers of Disease Control and Prevention (CDC) as well as local authorities.

Amid the COVID-19 crisis, we will continue to keep our pulse on the local real estate market, just as we have throughout our decades in Arlington County.

We know that these are stressful times with many, many questions and concerns. And, just as we’ve ridden the highs together, we’ll certainly be there when the times are tougher.

When you’re ready to chat about one of your most valuable current or future assets, we are too. And, in the meantime, here are this week’s Just Reduced figures:

As of March 16, there are 136 detached homes, 22 townhouses and 83 condos for sale throughout Arlington County. In total, 16 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 Arlington Realty, Inc.

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