real estate

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Morning Notes

By ARLnow.com

Free House in Arlington — The new owners of a 1926 Sears bungalow kit home in Lyon Park are offering the house for free to a caring owner. The only catch? The home’s recipient will have to have somewhere to move it. “The needs of the homeowner do not meet the constrictions of the current home,” according to the Preservation Arlington blog. “Rather than bulldoze this historic property, the homeowner is interested in giving it away for only the cost of moving the home.” [Preservation Arlington]

Big Year for Opower — Updated at 2:20 p.m. — Courthouse-based Opower doubled the number of people who use its energy-saving software in 2013, going from 10 million users to about 20 million users. The company also increased its workforce by 50 percent, from about 300 to 460 employees. [Washington Post]

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News

Morning Notes

By Katie Pyzyk

Home Prices Fall — Arlington was the only jurisdiction in the D.C. metro area to see a drop in home prices last month. The median Arlington sales price in November was $498,500, down 2.1 percent from last year. [Washington Business Journal]

Big Difference Between ‘Near’ and ‘Next To’ Metro Stations — It’s no surprise that real estate closer to Metro stations is more valuable, but what may be surprising is for how high a price such properties can be sold. Looking at the five stations along the Orange Line’s Rosslyn-Ballston corridor — which is deemed one of the hot areas for development — researchers found that properties one-twentieth of a mile from a station (264 feet) can fetch more than a 30 percent premium over those just a quarter mile away. [Washington Post]

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News

Avery Row Apartments Now Leasing

By Katie Pyzyk

Potential residents can now tour the four story, 67-unit building in the Radnor/Ft. Myer Heights neighborhood. The “boutique apartment community” features one and two bedroom apartments, balconies, rooftop terraces and an outdoor dining area.

“We give you a lot of opportunities to enjoy the outdoors, a lot of outdoor areas to appreciate nature,” said Shelley Brooks, Regional Portfolio Manager for Bozzuto Management Company. “It’s a very special community. It’s modern, yet elegant. I think they’ll go very quickly.”

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News

FBR, FDIC Find New Arlington Offices

By ARLnow.com

The Federal Deposit Insurance Corp. and FBR, an investment bank, will be moving into new offices in Arlington over the next year and a half. That’s good news for economic development officials in Arlington, who are still reeling from the impending loss of the National Science Foundation and its 2,237 jobs.

FBR will move from a “trophy” office building at 1001 19th Street N. in Rosslyn to a slightly less lofty accommodations, at 1300 17th Street N., also in Rosslyn. FBR’s new lease runs through the end of 2025. First-year rent for the space — on the building’s 2nd, 13th and 14th floors — is $41 per square foot for the lower floor and $51.50 per square foot for the higher floors, according to an SEC filing.

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News

Morning Notes

By ARLnow.com

Lyon Park Bat Turns Out to Be Something Else — A Lyon Park resident called animal control officers late last month after a startling discovery: a bat inside his or her home. There was only one problem — the responding animal control officer found that the “bat” was actually a sweatband. It’s not the first time something like this has happened. Previously, a balloon had been mistaken for a bat, a ski hat lying on the road was mistaken for a dead cat, and a “mangy, emaciated cat” turned out to be stuffed animal. [DCist]

GOP Trying to Find Candidate for Special Election — The upcoming County Board special election to replace the retiring Chris Zimmerman could give Arlington Republicans their best chance of winning a seat on the Board since the late 1990s, the last time any non-Democrat served as a Board member. “We could really pull a surprise,” said Arlington County Republican Committee chairman Charles Hokanson. [Sun Gazette]

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Feature

Ask Adam: Buyer Tips for a Seller’s Market

By ARLnow.com

This regularly-scheduled sponsored Q&A column is written by Adam Gallegos of Arlington-based real estate firm Arbour Realty, voted one of Arlington Magazine’s Best Realtors of 2013. Please submit follow-up questions in the comments section or via email.

Question: We are planning to buy a home in 2014 and are a little anxious about how much of a seller’s market it will be. Can you share some strategies that have worked well for you in a seller’s market? 

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News

Morning Notes

By ARLnow.com

Z-Burger to End Free Burger Promotion — Z-Burger is ending its free burger promotion for furloughed federal workers. The local burger chain says they’ve given away more than $60,000 worth of burgers to more than 15,000 federal workers. The company says it’s losing too much money to continue, so the giveaway will end tonight (Thursday). “In order for us to stay in business, we had to make the hard choice,” said owner Peter Tabibian.

New Townhouses Coming to Westover — A new townhouse development is coming to the Westover neighborhood. The Westover Place townhomes are replacing a series of aging but mixed-income low-rise apartment buildings on N. Kensington Street. Prices for new homes in the development start in the $800’s. [Arlington Housing Report]

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Fish and Wildlife Service Moving Out of Ballston

By ARLnow.com

(Updated at 1:30 p.m.) The headquarters of the U.S. Fish and Wildlife Service will be moving out of Ballston, employees are being told today.

The move is another blow to Arlington’s commercial real estate market, which is dealing with rising office vacancy rates (16.5 percent as of January) and the impending loss of the National Science Foundation.

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