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by Bridget Reed Morawski April 10, 2018 at 4:45 pm 0

The average sale price of homes in Arlington dipped in February compared to one year prior, the first such dip for the month since 2014.

That’s according to data from the Northern Virginia Association of Realtors, which releases historical monthly data for the region and for localities including Arlington.

The general trend for February home sales has been up, however, since February 2010.

Despite the decrease in the average sale price, the number of homes — including condos, townhomes and single-family detached houses — sold in February 2018 was up 3.6 percent year over year, with a total of 175 homes sold. Selling prices were 1.48 percent less than the asking prices.

The median home selling price in Arlington in February, meanwhile, was up 0.44 percent to $532,353.

Average sale prices can be affected by changes in the mix of the types of homes sold. For instance, a higher percentage of condos — which typically sell for less than single-family homes — sold may cause a dip in the average. In February 2018, 62% of the homes sold in Arlington were condos, compared to 58% in February 2017.

Update at 5 p.m. — Another source of local real estate data, Bright MLS, is reporting a jump in Arlington’s median home selling price in March.

“Arlington County led the region for price, with a median selling price in March of $564,250,” WTOP reported Tuesday afternoon. “That’s up 11 percent from a year ago and topped D.C.’s median price of $555,451, which was up 3.8 percent.”

by ARLnow.com Sponsor April 5, 2018 at 12:45 pm 0

Free Home Buying Workshop to be held in Rosslyn — Multiple Dates.

The first 3 to register and attend the class get a FREE Google Chromecast!

Attend the free Home Buyer Class hosted by Orange Line Living and learn all of our tips and get $1,500 towards your next home purchase.

Benefits of Attending

  • $1,500 credit towards your new home or towards early lease termination
  • 12-month home buy-back guarantee
  • Wine and cheese provided
  • AND the first 3 to attend will receive a Google Chromecast

Space is limited, register by clicking here.

Details

  • When: Monday, April 9 and Monday, April 23 at 6:00 p.m.
  • Where: Orange Line Living, 1600 Wilson Blvd, Suite 101
  • Cost: Free
  • Parking: Validated Parking or Free Street Parking
  • Food: Wine and Cheese
  • Contact: [email protected] or call 571-969-7653

Learn More About Home Buying Essentials at Arlington’s Free Home Buying Workshop

You will get a comprehensive explanation of the home purchasing process — there’s more to know than you’d think.

The Orange Line Living Team and Keri Shull Team will be teaching all of the acronyms and definitions you will need, what happens at each stage of your transaction, real strategies on how to negotiate a lower purchase price, the different type of loans available and much more. There will be local specialists from multiple industries in attendance, so come with questions.

Space is limited, register by clicking here.

by Anna Merod April 3, 2018 at 3:55 pm 0

(Updated at 4:20 p.m.) Arlington’s millennials have mixed reactions about buying a house in the county some day.

About 36 percent of current U.S. home buyers across the nation are millennials, or those who are under 37 years old, according to a National Association of Realtors survey.

But Eli Tucker, an Arlington-based realtor who also writes an ARLnow column, doesn’t think that home buying trend studies are accurate, because of the different life changes that people aged 20 through 37 face. Two-thirds of Tucker’s clientele is considered millennial-aged and those ages 20-34 make up about a third of Arlington’s population.

“Absolutely, those millennials that are in their thirties and have children and are starting a family have zero interest in a condo,” Tucker said. “But you talk to somebody who is 25 or 26, they have zero interest in being in anything other than a condo — but they’re both millennials.”

The cost of housing in Arlington doesn’t help.

The average cost of an Arlington single-family home is $950,000, while a townhouse costs $650,000 on average, and a condo will, on average, take a $425,000 bite out of your wallet, according to numbers cited by Tucker.

Courthouse resident, Elvin Lee, 25, already owns a condo in Arlington, something he says he couldn’t have done if he didn’t live with his parents for the first two years out of college.

Lee said he could see himself purchasing a house one day, but not until much later when he wants to start a family.

Another Arlington millennial, Adam DeSanctis, 31, and his wife want to buy a home in Arlington, but he says that the county’s pricy real estate market it too difficult to jump into.

“The area desperately needs more entry-level new home construction (single-family and condos) to keep affordability in check — especially as mortgage rates rise,” DeSanctis said via email.

Though home purchases by millennials increased by two percent over the past year, the NAR study found that millennials’ overall activity was subdued due to higher housing costs causing some to continue staying in their family’s homes.

“Home prices have rapidly increased in many communities [nationwide]” said Jessica Lautz, NAR’s survey research and communications director. “The D.C. area is no exception to that.”

Massive amount of student loan debt nationwide is contributing to the problem, said Lautz. Though the study found that millennials were more likely to have higher household incomes than past generations their age, 46 percent had student debt. The median student loan debt is $27,000.

The concern is mitigated somewhat in Arlington as salaries are higher than other communities, Lautz added.

For Kelly Kuang, 22, who just moved into a Shirlington rental apartment, she probably won’t be buying in Arlington. Her parents want her to buy a townhouse with her brother in the near future and it will likely be in a less expensive community.

“Just to be honest, Arlington is a great area from what I’ve heard, but it’s crazy expensive,” Kuang said.

Patrick Muggil, 21, who currently plans to live with his family in Pentagon City after working for a year, said he plans to save up for a house over the course of five to 10 years.

“I love the county so much that I definitely to make it work somewhere,” said Muggil. “I want to stay a long time.”

File photo

by ARLnow.com Sponsor March 29, 2018 at 6:00 am 0

Interested in buying a new home or designing your own?  Get a glimpse of the best new construction homes that Northern Virginia has to offer — on Saturday April 7 at 12 p.m.!

Join the Keri Shull Team for an exclusive FREE luxury tour around the latest and greatest new construction communities of Loudoun County including Toll Brothers, Beazer Homes, and NVR Homes. Hosted by New Construction Specialists from the Keri Shull Team, this luxury tour around Loudoun will take you through these new communities, while going over the ins and outs of building or buying a brand new home.

Perfect opportunity to discover your new home, meet your future developer or find your next inspiration.

Ride in style with the Keri Shull Team — Saturday, April 7. Wine and hors d’oeurves included — absolutely free.

Attendees of New Construction Limo Tour will receive our exclusive guarantee: Move up to any of our new construction listings and we will sell your current home for free!

Event details

  • What: New Construction Limo Tour
  • When: Saturday April 7th, 12 p.m. – 3 p.m.
  • Where: Toll Brothers, Beazer Homes, and NVR Homes
  • Cost: FREE
  • Contact:  [email protected] or call 571-969-7653

Space is limited, so sign up today before it fills up! Register at: Loudouncountytour.com.

by ARLnow.com March 23, 2018 at 8:55 am 0

Arlington Revamps Engagement on Projects — “The County’s new ‘Six-Step Public Engagement Guide for Capital Projects’ aims to strengthen engagement and communication processes across County government – for hundreds of capital projects both large and small… The guide identifies four types of engagement that can occur with capital projects: Communicate… Consult… Involve… Collaborate.” [Arlington County]

Barre3 Opening ‘For Real’ — After construction, permitting, and inspection delays, Clarendon’s new Barre3 exercise studio has set a new opening date of March 22 — “for real.” An email to customers apologized to those who have been “waiting (and waiting and waiting)” for the studio to open in Clarendon’s Market Common shopping plaza at 2800 Clarendon Boulevard.

Millennials Buying Homes at Modest Pace — “Home purchases by Millennials ticked up over the past year, but inventory constraints and higher housing costs kept their overall activity subdued and prevented some from leaving the more affordable confines of their Gen X and Baby Boomer parents’ homes.” Meanwhile, Northern Virginia’s population continues to boom while many rural Virginia locales are shrinking. [InsideNova, InsideNova]

by ARLnow.com Sponsor March 13, 2018 at 12:45 pm 0

The first 3 to register and attend the class get a FREE Google Chromecast!

Attend the free Home Buyer Class hosted by Orange Line Living and learn all of our tips and get $1,500 towards your next home purchase.

How do I factor condo fees into my new home budget?

Learn More About Home Buying Essentials at Arlington’s Free Home Buying Workshop

You will get a comprehensive explanation of the home purchasing process — there’s more to know than you’d think.

The Orange Line Living Team and Keri Shull Team will be teaching all of the acronyms and definitions you will need, what happens at each stage of your transaction, real strategies on how to negotiate a lower purchase price, the different type of loans available and much more. There will be local specialists from multiple industries in attendance, so come with questions.

Benefits of Attending

  • $1,500 credit towards your new home or towards early lease termination
  • 12-month home buy-back guarantee
  • Wine and cheese provided
  • AND the first 3 to attend will receive a Google Chromecast!

Space is limited, register by clicking here.

The event is hosted by best-selling author and top nationally-ranked real estate agent Dan Lesniak, author of The HyperLocal HyperFast Real Estate Agent. Dan and his team have developed a special process that has allowed them to help over one thousand local families buy or sell their home.

Details

  • When: Monday, March 19 and Monday, March 26 at 6:00 p.m.
  • Where: Orange Line Living, 1600 Wilson Blvd, Suite 101, Arlington, VA 22209
  • Cost: Free
  • Parking: Validated Parking or Free Street Parking
  • Food: Wine and Cheese
  • Contact: [email protected] or call 571-969-7653

Space is limited so be sure to register at arlingtonhomebuyerclass.com.

by ARLnow.com March 6, 2018 at 1:45 pm 0

An HGTV show is looking for homes in Northern Virginia “that need a personality boost and remodel.”

The first episode of “Best House on the Block,” which stars a pair of Great Falls, Va.-based home renovation specialists, aired last year.

The pilot took a different turn from the usual house-flip shows that have dominated HGTV the past few years, featuring “underwhelming” houses.

The show is currently seeking D.C. area homeowners who want to “generic home from drab to the Best House on the Block” but are “overwhelmed by the design possibilities.”

More from the show’s casting website:

To Be Eligible You Must:

  • Currently own a home in the Northern Virginia/D.C./Maryland metro area
  • Have an existing design/renovation budget for your projects
  • Be willing to move out of the house during renovation

Send an email to [email protected] telling us your story and include: name, address, phone number, family photo, budget, as well as photos of the home exterior and interior areas that need Lauren and David’s help.

I am looking for families with boring homes that need a personality boost and remodel. Looking for fun, outgoing, families who are serious about a home redesign/remodel. Each episode focuses on roughly 3 living spaces to transform with the homeowners existing budget.

Compass Expands to Arlington

by ARLnow.com Sponsor February 22, 2018 at 6:00 am 0

Compass, America’s first modern real estate company, is now in Arlington!

Pairing the industry’s top agents with proprietary technology, Compass offers a smarter, more seamless solution to selling or finding your home. Since opening their doors in December 2017, Compass Arlington has quickly grown their team to 20 agents, representing $280,000,000+ in sales volume over the last twelve months.

Compass Arlington is one of six offices in the D.C. Metro area, with offices also in McLean, Logan Circle, Georgetown, Capitol Hill and Chevy Chase.

“We have quickly become the #1 brokerage in Washington, D.C, and our expansion to Northern Virginia represents an opportunity to bring Compass’ best-in-class marketing, support, and technology to Northern Virginia agents and their clients,” says Marc Pina, Managing Director of Sales for Compass Arlington.

As a technology-driven real estate company, Compass has launched a powerful end-to-end platform to support the entire buying and selling workflow. They deliver an incomparable experience to both agents and their clients all in service of the Compass mission: to help everyone find their place in the world.

Founded in 2012 by Ori Allon and Robert Reffkin, Compass operates in 14 regions across the United States: New York City, Los Angeles, San Francisco, Boston, Washington, D.C., Chicago, San Diego, Dallas, Miami, Orange County, The Hamptons, Santa Barbara and Montecito, and Aspen.

The 10,000 square foot Northern Virginia flagship office is located at 3001 Washington Blvd in Arlington. For more information please visit www.compass.com.

The preceding post was sponsored by Compass.

by ARLnow.com Sponsor February 15, 2018 at 11:45 am 0

The first 3 to register and attend the class get a FREE Google Chromecast!

Attend the free Home Buyer Class hosted by Orange Line Living and learn all of our tips and get $1,500 towards your next home purchase. Plus, another $500 towards appraisal from our friends at Pure Mortgage!

How much is a down payment on a house?

A lot of people think you still need 20% to put down on a house – that is not the case. Here are a few other options:

0% down: Veterans and active duty military are eligible for no down payment. Also, most cities and states have down payment assistance programs. Virginia’s VHDA and DC’s “DC Opens Doors” programs can allow you to get a 0% down payment without being in the military.

3% to 3.5% down: Conventional or FHDA loans

5% to 15% down: There are many options for putting this amount down, typically the more you put down the better your interest rate will be.

Learn More About Home Buying Essentials at Arlington’s Free Home Buying Workshop

You will get a comprehensive explanation of the home purchasing process – there’s more to know than you’d think.

The Orange Line Living Team and Keri Shull Team will be teaching all of the acronyms and definitions you will need, what happens at each stage of your transaction, real strategies on how to negotiate a lower purchase price, the different type of loans available and much more. There will be local specialists from multiple industries in attendance, so come with questions.

Benefits of Attending

  • $1,500 credit towards your new home or towards early lease termination
  • 12-month home buy-back guarantee
  • Wine and cheese provided
  • The first 3 to attend will receive a Google Chromecast!

Space is limited, register by clicking here.

The event is hosted by best-selling author and top nationally-ranked real estate agent Dan Lesniak, author of The HyperLocal HyperFast Real Estate Agent. Dan and his team have developed a special process that has allowed them to help over one thousand local families buy or sell their home.

Details

  • When: Monday, February 19 at 6 p.m.
  • Where: Orange Line Living, 1600 Wilson Blvd, Suite 101, Arlington, VA
  • Cost: Free
  • Parking: Validated Parking or Free Street Parking
  • Food: Wine and Cheese
  • Contact: [email protected] or call 571-969-7653

Space is limited so be sure to register at arlingtonhomebuyerclass.com.

by ARLnow.com Sponsor January 24, 2018 at 5:45 pm 0

Builders at Alair Homes and agents from The Keri Shull Team will be sharing everything you need to know about shopping for new construction homes — absolutely free!

New construction is a totally different ballgame, and with such a high investment threshold there are some particulars you need to be privy of.

Attendees Will Learn

  • The steps involved with mainstream new construction
  • Benefits of working with a professional
  • Builder selection — custom vs. track builder
  • RPAs and restrictions
  • How to find opportunities off-market
  • Estimating your timeframe
  • Financial obligations
  • Making the transition
  • FAQ

Attendees of the New Construction Workshop will receive our exclusive guarantee: Buy any of our new construction listings and we will sell your current home for free

Details:

The New Construction Workshop will take place on Monday, February 5 at 6 p.m. at 2513 11th St. N

  • When: Monday, February 5 at 6 p.m.
  • Where: The Keri Shull Team, 2513 11th St. N Arlington, VA 22201
  • Cost: Free
  • Parking: Validated parking or free street parking
  • Food: Wine and cheese
  • Contact: [email protected] or call (571)969-7653
  • If snow — We will reschedule for the next available day
  • Come with questions — we will answer them!

To Register:
Space is limited, sign up right now at homebuildingworkshop.com

by ARLnow.com January 24, 2018 at 9:30 am 0

Career Center Redevelopment Could Be Big for Pike — County and school officials are moving forward with a redevelopment of the Arlington Career Center site, which holds the possibility of helping to shape the future of Columbia Pike. “We see this as a huge opportunity to create a crown jewel of Columbia Pike. The only question is the amount of money that might be invested,” said Columbia Pike Revitalization Organization Executive Director Cecelia Cassidy. [InsideNova]

N. Va. Real Estate Continues Upward Trajectory — As illustrated by a table showing the past four decades of Northern Virginia real estate sales and average prices, the local real estate market has been on a long-term upward trend. Last year continued the trend, with a 4.1 percent increase in prices and a 6.9 percent increase in total sales. [InsideNova]

Five Guys at DCA Closed for Renovations — The Five Guys burger restaurant in Terminal C of Reagan National Airport is reportedly closed, temporarily, for renovations. [PoPville]

TechShop Evicted in Crystal CityFinancially troubled makerspace chain TechShop has officially been evicted from its location in Crystal City. [Washington Business Journal]

Some Experts Say Prepaid Property Tax Will Be Deductible — Don’t ask for a refund of your prepaid property taxes, say some tax experts. Despite the IRS stating that taxes prepaid to jurisdictions like Arlington County will not be deductible on your taxes this year, before a cap on state and local tax deductions goes into effect, some experts believe that legal challenges to the IRS determination will prevail. [Washington Post]

Applications Accepted for ‘Neighborhood College’ — “Learn how to become a neighborhood advocate and effect change through Arlington County’s free Neighborhood College program, which meets on eight consecutive Thursday evenings, beginning April 12, 2018.” [Arlington County]

by Chris Teale January 19, 2018 at 1:45 pm 0

(Updated at 5:15 p.m.) Property values in Arlington County rose at a slower rate this year compared to last year, according to the latest tax assessments, and slower than projected by staff.

The value of all residential and commercial property rose by 1.9 percent over the past year, compared to 3 percent the previous year. Homes went up in value by 3.9 percent, compared to a rise of 2.5 percent last year.

It means the average home value in Arlington, including condominiums, townhouses and detached homes, is now $640,900, up from $617,200 last year.

“Year after year, we see through our rising residential property values that Arlington is a place people want to live,” said County Manager Mark Schwartz. “At the same time, we’ll have some challenging budget decisions in the months ahead, given that our overall property values did not grow as much as projected.”

While residential real estate continued to rise, the value of office buildings was down significantly.

“Office properties, which represent 17.6 percent of the County’s total property tax base, saw significant declines — down 6.9 percent since last year,” the county said in a press release. “This decrease was driven primarily by office vacancies as well as rent concessions.”

The slower growth overall will mean a budget shortfall for Fiscal Year 2019, with debate on county spending levels to continue this year. Staff initially projected a 3.2 percent increase in the value of all real estate, so with actual growth of 1.9 percent the county will need to find savings to balance the budget.

Schwartz and Arlington Public Schools Superintendent Patrick Murphy will present their respective budget proposal late next month.

The full county press release is after the jump.

(more…)

by ARLnow.com January 18, 2018 at 12:45 pm 0

Arlington Construction Management is now Alair Homes Arlington. While the company’s name is new, its values remain the same.

Alair Homes Arlington specializes in residential construction for people in the Washington, D.C. area, with a focus on Arlington. Home projects range from renovating a bathroom to building an entirely new abode.

For projects of all sizes, Alair follows a client control model, which emphasizes convenience, customization, service and transparency for the client. That helps to eliminate any unexpected surprises. Plus, before entering an agreement, projects are fully scoped, priced and validated.

The photos above are an example of one of Alair’s recent projects. Here’s what company owner Chad Hackmann said about how he totally transformed this Arlington home:

This home started out as a typical 1940’s Arlington Cape, brick and block construction with a center hall stair, upstairs had two bedrooms and one bath under a shed dormer off the back and two small dormers off the front. Clients were looking to add room without significantly expanding the footprint of the house in order to keep the budget reasonable and preserve the large back yard for the enjoyment of the growing family.

After getting into the design it was quickly decided that so much drywall and plaster were being removed that it made sense to gut the entire floor, completely updating everything including insulation, electrical, HVAC, all windows and creating a new thermal envelope. The new dormers were made as big as possible to raise the ceiling height in those rooms as high as possible to really open up the space. This allowed for plenty of space for a new custom bunk beds in the kids room. The master bedroom addition was built on the angle to take advantage of the side yard setbacks creating as much room as possible. A custom bureau was further cantilevered into the set back in the master bedroom. The front entrance was dressed up to blend properly with the addition. All this to maximize utility but keep to a value and budget goals of the owners.

In the end we transformed a home whose second floor could barely sleep 4 to one that could easily handle 6 and in addition the owners now have actual storage on that second floor including a walk-in closet! A major transformation indeed for the typical Arlington home.

Want to see more? Come visit Alair at the Home + Remodeling Show at the Dulles Expo Center. Need tickets? Email [email protected] or call 202-409-1280 for a free ticket while supplies last.

The preceding was written by ARLnow and sponsored by Alair Homes Arlington.

by ARLnow.com Sponsor January 17, 2018 at 6:00 pm 0

The first 3 to register and attend the class get a FREE Google Chromecast!

Attend the free Home Buyer Class hosted by Orange Line Living and learn all of our tips and get $1,500 towards your next home purchase. Plus another $500 towards appraisal from our friends at Pure Mortgage.

Earnest Money Deposits (EMDs) Explained

Earnest money deposits or EMDs are deposits that the buyer makes at the time of ratifying a contract with sellers. It is held by a third party, usually a real estate brokerage or title company. It is a good faith testament from the buyers to the sellers that they are serious about the contract. EMDs typically range from 1 to 5 percent of the contract price based on the down payment amount.

Learn Other Home Buying Essentials at Arlington’s Free Home Buying Workshop

You will get a comprehensive explanation of the home purchasing process — there’s more to know than you’d think. The Orange Line Living Team and Keri Shull Team will be teaching all of the acronyms and definitions you will need, what happens at each stage of your transaction, real strategies on how to negotiate a lower purchase price, the different type of loans available and much more. There will be local specialists from multiple industries in attendance, so come with questions. 

Benefits of Attending

  • $1,500 credit towards your new home or towards early lease termination
  • 12-month home buy-back guarantee
  • Wine and cheese provided
  • $500 off your appraisal provided by Pure Mortgage
  • The first 3 to attend will receive a Google Chromecast

Space is limited, register by clicking here.

The event is hosted by best-selling author and top nationally-ranked real estate agent Dan Lesniak, author of The HyperLocal HyperFast Real Estate Agent. Dan and his team have developed a special process that has allowed them to help over one thousand local families buy or sell their home.

Details

Space is limited so be sure to register here or at arlingtonhomebuyerclass.com.

by ARLnow.com January 9, 2018 at 2:45 pm 0

Single-family home demolitions dropped in 2017, hitting the lowest point since 2012, according to statistics from the group Preservation Arlington.

A new report from Preservation Arlington says there were 158 single-family home demolition permits issued last year, making it the second year in a row with demolition permits falling from the year prior. Demolitions peaked in 2015 at 204, according to the data.

The downward trend may seem like a “mission accomplished” moment for Eric Dobson of Preservation Arlington, but instead he thinks it reflects changing market dynamics, not a new-found interest in preserving older homes.

“I was afraid someone would ask,” he joked after being contacted by ARLnow.com.

Dobson said that the number of homes in Arlington that are attractive candidates for demolition — those that have been poorly maintained, that sit on a lot that can be subdivided, or that are worth substantially less than the underlying property — is finite and shrinking.

But there’s another trend in play that may explain why demolition permits are falling: a trend towards gut renovations that keep just enough of the structure to not be classified as a demolition under county code.

“People are getting creative as supply dries up,” Dobson wrote. For example, “someone buys a house that is on a substandard lot — a lot that has a small side yard or something that would not be permitted today. So they cannot ‘tear it down’ because they would need to meet today’s code for setback. Instead [they] keep that exterior wall that gives them more building room and tear the rest of the house down.”

“The definition of teardown somewhat hides the fact that dozens of more houses are essentially torn down,” he added. “As lots become more scarce, people are becoming innovative/creative.”

Local realtor and ARLnow columnist Eli Tucker largely echoed Dobson’s analysis.

“The sale of single family marked as new construction increased slightly from 121 to 130 homes in 2017,” he said. “New construction can be considered a total demo or building on top of/expanding [an] existing foundation. I’m seeing more of this lately so it’s possible that we’re seeing fewer complete demolitions, but just as many or more new construction with higher numbers of new homes on existing structure.”

Meanwhile, it’s not uncommon for buyers to demolish million-dollar homes. There were a total of 12 demo permits issued in 2017 for homes purchased for more than $1 million, according to Preservation Arlington.

Image via Preservation Arlington

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