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.
Inventory continues to decline in Arlington, bolstered by strong buyer demand through the second week of January. With just 397 total available properties, we haven’t been this strapped for homes since early August 2020. Ninety of these are single family, 37 are townhouses/semi-detached and 270 are condos. Condo inventory is down 100 from the week of November 22, when it peaked at 370 available units.
Arlington sellers listed some 55 homes this past week, up from 49 the week prior. Buyers really did their part, virtually keeping pace with 54 contracts ratified, 22 of which were homes on the market seven days or less. Last week we had 42 ratified contracts.
Mortgage rates just ticked up about one-eighth of a point in the past week — still historically low but perhaps indicative of a trend upward. We haven’t seen this large of a move in a one-week increment since last March, when Covid-19 and associated lockdown measures were threatening the liquidity of capital. It’s still an amazing time to refinance an existing loan, invest in more real estate to lock in a low fixed payment, or buy a new home for your family.
Currently available homes across all property types have an average list price of $754,824 and median of $544,500.
Pick of the Week: 1745 S. Hayes Street #2, Arlington, VA 22202 — $635,000
Southampton is one of the most conveniently located townhome developments in Arlington. Walk across the street to Pentagon City and Metro or to Costco, or take a short stroll to Amazon’s HQ2. This 3 BD/2.5 BA two-level townhome has assigned parking at the front door and is 1,400 square feet plus has a large covered balcony. Find me here on Sunday, from 1-4 p.m. for the in-person open house, or call me at 703-203-1117 to make arrangements to tour privately.
Click here to search currently available Arlington real estate. If you see a home you’re interested in purchasing, give us a call.
Call the Andors Real Estate Group today at 703-203-1117 to talk more about buying or selling Arlington real estate. Below are eight new listings I think you might like to check out:
- 4623 28th Road S. #D, Arlington, VA 22206 — $354,900
- 2700 16th Street S. #653, Arlington, VA 22204 — $419,900
- 1515 S. Arlington Ridge Road #202, Arlington, VA 22202 — $519,900
- 1300 Army Navy Drive #623, Arlington, VA 22202 — $525,000
- 1745 S. Hayes Street #2, Arlington, VA 22202 — $635,000
- 3145 14th Street S., Arlington, VA 22204 — $815,000
- 5512 7th Street S., Arlington, VA 22204 — $935,000
- 3008 N. Rochester Street, Arlington, VA 22213 — $2,095,000
Title insurance is boring, but Allied Title & Escrow is here to decode the jargon and make it (somewhat) more interesting. This biweekly feature will explore the mundane (but very necessary!) world of title insurance while sharing interesting stories of two friends’ entrepreneurial careers.
For this week’s edition of Boring Title, we give three reasons why you should consider refinancing your mortgage now.
The first, and most obvious reason, is so you can lower your monthly payment. Depending on when you purchased the property — or even when you last refinanced in the past — you could potentially save hundreds of dollars on your mortgage payment each month.
The second reason you should consider refinancing your property is if you would like to shorten the length of your mortgage. You may pay a slightly higher monthly payment, but your interest will go way down and you can pay off your mortgage sooner.
The third reason why you should consider refinancing is to pull cash out of your equity with a cash-out refinance. With a cash-out refinance, you refinance your mortgage and borrow money at the same time. There are no restrictions on how you use the proceeds, and during these tough times, many people may be able to benefit from freeing up some extra cash.
Are you interested in refinancing but don’t know where to start? We know a ton of the top mortgage lenders around the DMV. Reach out to us at the email below to get connected to a great lender!
Have questions related to title insurance? Email Latane and Matt at [email protected]. Want to use Allied Title & Escrow when you buy a home? Tell your agent when you buy a house to write in Allied Title & Escrow as your settlement company!
As we ease into 2021, Arlington’s real estate market continues to look strong. This past week, 31 properties were reported sold across the county, up slightly from last week.
As of last month, there were 622 homes listed for sale in Arlington, according to Homesnap. This includes 427 condos, 146 detached homes and 49 townhomes.
“The median list price is $549,450 and the median sales price is $615,000,” Homesnap reports. “There have been 136 new listings in the last 4 weeks and 239 sales.”
Here are a few of the properties sold in the past seven days:
- 2309 N. Tuckahoe Street — 5 BD/4.5 BA — $1,543,627
- 1504 N. Highland Street — 3 BD/2.5 BA — $1,220,000
- 3311 20th Street N. — 4 BD/3 BA — $1,072,000
- 4605 24th Street N. — 3 BD/2 BA — $922,879
- 3303 S. Kemper Road — 3 BD/3.5 BA — $799,000
- 4422 36th Street S. — 2 BD/2 BA — $579,900
- 1736 N. Rhodes Street, #5291 — 1 BD/1 BA — $271,000
- 900 N. Taylor Street, #1811 — 1 BD/1 BA — $118,000
BizLaunch is pleased to officially announce its latest initiative to help small businesses during the health pandemic, ReLaunch, which kicks off this month with a webinar on Jan. 27. As part of the ReLaunch efforts, local businesses will have the opportunity to apply for a complimentary suite of business services and technology assistance to help their business in the upcoming months.
If you’d like to be sent a notification about the upcoming initiative or to learn more about what’s happening in the small business community in Arlington, please sign up for our BizLaunch newsletter. We hope you apply!
Paycheck Protection Program Update
On Monday Jan. 11, the U.S. Small Business Administration (SBA) reopened its Paycheck Protection Program (PPP) for new PPP borrowers. Starting today, small businesses that have received PPP funding previously are able to apply for additional PPP funding accessing what is called a Second Draw PPP Loan.
In order to promote access to capital, only community financial institutions are able to make First Draw and Second Draw PPP loans this week. Community financial institutions include Community Development Financial Institutions (CDFIs), Minority Depository Institutions (MDIs), Certified Development Companies (CDCs) and Microloan Intermediaries. To help borrowers prepare, sample applications for both the First Draw and Second Draw PPP loans are available on the SBA’s website.
In Arlington, two of our CDFI partners, Latino Economic Development Center and ECDC Enterprise Development Group, are both participating in the program, and businesses that don’t currently have a relationship with a 7(a) lender are able to apply. Shortly thereafter, the program will open to all participating PPP lenders, and all eligible businesses will be able to apply for the program. Businesses should consult with their financial institution, and visit the SBA’s website to learn more about the Paycheck Protection Program in order to take advantage of this resource.
Meet Riley Finn, Arlington’s newest Pet of the Week. He’s a friendly 12-year-old Labrador-Rottweiler mix.
Here’s what Riley Finn had to say about his life in Arlington Highlands:
Hi. My name is Riley Finn. Yes, mom named me after a character in “Buffy the Vampire Slayer.” I am a 12-year-old three-quarters Labrador and one-quarter Rottweiler mix. I have lived in Arlington Highlands since I was 12 weeks old. I was adopted from A Forever Home rescue. Mom couldn’t resist my “dinner plate” sized paws.
My most favorite pastimes are anything having to do with a tennis ball (catching, carrying, retrieving). I also enjoy hanging out on my front porch watching the world go by and scaring the heck out of delivery people.
I am super friendly and really well behaved. I like going to restaurants with mom and dad. One time I was so quiet and good that the waiter didn’t even notice I was there until the end of the meal. (Did I mention I’m 90 pounds and hard to miss?) Everyone comments on how handsome I am and that makes me happy.
My sister, Molly, taught me how to tell time before she went to doggy heaven. Now I know exactly when it’s time for dinner or my 9 p.m. treat, and I make sure everyone knows I am starving.
Want your pet to be considered for the Arlington Pet of the Week? Email arlingt[email protected] with a 2-3 paragraph bio and at least 3-4 horizontally-oriented photos of your pet. Please don’t send vertical photos — they don’t fit in our photo galleries!
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 made it through one of the slower times of the year.
In the heart of Hanukkah, Christmas, New Year activities and everything in between, folks typically aren’t pushing the gas on their real estate aspirations. Now, nearly two weeks into 2021, we are starting to see things rev up again.
After a few weeks of steady declines on the listings front, we’ve seen our first uptick on detached home, townhouse and condo listings. Additionally, the number of Just Reduced properties has skyrocketed more than 200% over last week (from 12 to 36).
What’s between the numbers, you ask?
With the holidays in the books, folks are resetting and kicking things into high-gear to get properties sold. So, if you are in the market for buying, now is a wonderful time for you.
When you’re ready to embark on your real estate journey, the time-tested team at Arlington Realty, Inc. is ready to advocate and negotiate on your behalf.
And now on to this week’s Just Reduced figures…
As of January 11, there are 104 detached homes, 42 townhouses and 280 condos for sale throughout Arlington County. In total, 37 homes experienced a price reduction in the past week, including:
- 1881 N. Nash Street #1411, 22209 — NOW: $1,875,000 (Reduced: $75,000 on 1/10)
- 5840 18th Street N., 22205 — NOW: $1,475,000 (Reduced: $25,000 on 1/8)
- 3636 N. Monroe Street, 22207 — NOW: $1,250,000 (Reduced: $50,000 on 1/8)
- 3650 S. Glebe Road #639, 22202 — NOW: $649,000 (Reduced: $30,000 on 1/9)
- 5725 7th Street N., 22205 — NOW: $625,000 (Reduced: $25,000 on 1/11)
- 880 N. Pollard Street #601, 22203 — NOW: $585,000 (Reduced: $5,000 on 1/8)
- 1020 S. Barton Street #262, 22204 — NOW: $440,000 (Reduced: $10,000 on 1/8)
Please note 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.
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: When should I expect more homes to be put on the market for sale?
Answer: 2020 was an unusual year for housing inventory because we saw so little inventory come out during the spring, when the pace of new listings peaks, and an explosion of listings, especially condos, from late summer through the holidays. You can check out column I wrote that visualizes how unusual 2020 was for housing inventory in Arlington. Even though my analysis in this column and previous columns focuses on Arlington, similar patterns show up and can be applied across the D.C. metro.
It is much more likely that the pace of new listings will follow a more traditional pattern this year, with the number of homes listed for sale increasing steadily from now to the spring, peaking for about mid-March to mid-May, and then dropping steadily through the rest of the year, with a brief post-Labor Day spike.
Weekly Pace of Listings, by Housing Type
I’ve always shared and seen monthly breakdowns of listing inventory, so I thought it would be interesting to break it down a bit further into a weekly chart and see if there’s a noticeable difference in the seasonal pace of new listings of single-family homes/townhouses and condos.
The following chart does just that and pulls data from the five years spanning 2015 to 2019. (I threw out 2020 because it’s an anomaly.) The weekly percentages represent that week’s share of total annual listings. Note that the data for the first and last weeks of the year aren’t always full weeks because of how Excel calculates weeks.
As it turns out, the pace of listing inventory for single-family homes/townhouses and condos is nearly identical throughout the year, aside from a slightly higher pace for single-family homes and townhomes in the middle of the spring and a slightly lower pace for single-family homes and townhomes during the dog days of summer.
What can buyers looking for a home in 2021 take away from this chart? You can expect a significant increase in listings beginning around mid-February, buckle up for the most options in April and May, plan your vacations in July and August, look-out for the post-Labor Day surge, and hopefully you’ve found your dream home by the holidays!
Weekly Pace of Listings, by Year
The pace of new listings remains pretty consistent year-after-year, as shown by the chart below. There were only a handful of weeks with unusually low listing activity, compared to previous years. I’m guessing there was major weather activity during those weeks that caused some homeowners to delay or accelerate their listings by a week or two to avoid the drag of bad weather.
The consistency you see in the five-year chart below is also reflected in longer (10- and 15-year) charts, but those get a little too messy for display.
Weekly Pace of Listings and Contracts
The pace of listing inventory and contract activity is highly correlated. The “chicken or the egg” question is whether more/less listing activity drives more/less contract activity (demand), or does demand dictate listing activity, or do buyers and sellers just have similar patterns of behavior and thus the pace of supply and demand naturally correlate?
I think that it’s mostly due to No. 3, a natural correlation of behavior patterns that cause the pace of supply and demand to move in tandem. This is also supported by data, like the new-listing-to-new-pending ratios not being very seasonal.
Using the chart below, one could even make the argument that the best time to list a property for sale is the last two to three months of the year, when the pace of contract activity (demand) consistently exceeds new listings (competition). However, I’ve analyzed “success metrics” like days on market and sale-to-ask-price ratio based on the month a property is listed and overwhelmingly found that February to May/June produce the most favorable results for sellers.
I hope these charts were interesting and helpful to you! If you’d like to discuss buying or selling strategies, don’t hesitate to reach out to me at [email protected].
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 DC, and Maryland with RLAH Real Estate, 4040 N Fairfax Dr #10C Arlington VA 22203. 703-390-9460.
Sponsored by Monday Properties and written by ARLnow, Startup Monday is a weekly column that profiles Arlington-based startups, founders, and other local technology news. Monday Properties is proudly featuring Shirlington Gateway. The new 2800 Shirlington recently delivered a brand-new lobby and upgraded fitness center, and is adding spec suites with bright open plans and modern finishes. Experience a prime location and enjoy being steps from Shirlington Village.
(Updated 9:30 p.m.) Ballston-based Fluence is ramping up its efforts to tackle climate change with energy storage systems for renewable energy.
The energy storage company was founded three years ago this month as the joint venture of Berlin-based Siemens and Arlington-based Fortune 500 company, AES Corp. It enjoyed torrid growth over the course of 2020: About 100 staff came on, including a new CEO, and it acquired a company in October.
This year is off to a great start, too, with a pledge of $125 million in investment from the Qatar Investment Authority.
“We have been experiencing an enormous growth since the inception of the company,” said Vice President of Strategy Marek Wolek.
Fluence develops batteries that store energy from wind and solar. Since 2018, Fluence had quadrupled the amount of energy storage it has deployed or is working on, from 600 megawatts to 2,400 megawatts. It has deployed or been awarded contracts for storage in 24 countries.
The work is “a little bit more complicated” than just batteries, however, Wolek said. It also makes sure the supply of natural, renewable energy can be converted into enough electricity to meet demands, without leading to surges in electricity or deficits for customers.
“That’s extremely valuable, and makes the whole energy grid stable,” Wolek said.
But to keep up in a rapidly innovating market, the company started seeking out investing partners about six months ago, he said.
“How we effectively create a grid of future requires investments,” he said. “The mark is moving very fast: We have to make sure the technology is easier and faster, and efficient to use, for our customers.”
With the $125 million from Qatar Investment Authority, a founding member of the One Planet Sovereign Wealth Fund Initiative, which invests government funds into climate change solutions. Fluence will be investing in hardware and software, as well as staff to further develop the battery technology, he said.
In a statement, CEO Manuel Perez Dubuc said tackling climate change requires both technology and investment worldwide.
“We see energy storage as the linchpin of a decarbonized grid and adding QIA to our international shareholder base will allow Fluence to innovate even faster and address the enormous global market for large-scale battery-based energy storage.”
Dubuc came on as CEO in May 2020, after serving on the company’s board. He switches roles with Stephen Coughlin, who now sits on the board, said Director of Communications Alison Mickey.
He and the newly hired 100 staff members grew the company’s workforce to more than 300 worldwide.
In October, the company bought Advanced Microgrid Solutions, which develops AI bidding software for batteries and other tech for storing and generating renewably sourced electricity. The merger will help to improve energy storage, grid reliability and efficiency, Wolek said.
Fluence is headquartered at 4601 N. Fairfax Drive, and has offices in San Francisco, suburban Atlanta, Germany and Australia.
This is a sponsored column by attorneys John Berry and Kimberly Berry of Berry & Berry, PLLC, an employment and labor law firm located in Northern Virginia that specializes in federal employee, security clearance, retirement and private sector employee matters.
By John V. Berry, Esq.
We represent many employees in the workplace and individuals in administrative and civil forums. The unthinkable Capitol riot that took place on January 6, 2021, will lead to many serious consequences for the individuals who took part. While the full extent of what happened is still being investigated, there will be many consequences for those identified as being involved in the illegal riot in the Capitol.
These may include, but are not limited to the following:
1. Loss of Employment
Whether or not the individual involved is convicted, charged or just identified as being involved in the illegal activities in the Capitol on January 6, 2021, they can be fired from their employment. Private and public sector employees can be easily fired for their participation in the Capitol riots. There is no First Amendment protection for their actions.
2. Loss of Security Clearance
Aside from the issue of termination from employment, an individual that was involved and identified as being part of the Capitol riot on January 6, 2021, almost certainly will face the potential loss of their security clearance or a future inability to hold one. Whether the issue is criminal or just misconduct, individuals that hold or plan to hold a security clearance will likely have significant issues.
3. Criminal Charges
A number of the Capitol rioters have already been charged criminally for their actions on January 6, 2021. There is reason to suspect this list will grow significantly in the weeks to come as the FBI continues their work.
Depending on whether the individual is charged with (1) knowingly entering or remaining in a restricted building without law authority; (2) theft; (3) vandalism; (4) disorderly conduct; (5) violence (the murder of U.S. Capitol Police Officer Brian D. Sicknick) (or assault on a federal law enforcement officer or a member of Congress); or (6) seditious conspiracy, there are major criminal penalties that await many of the rioters.
This is just a sample of the potential criminal charges that could be filed by prosecutors against Capitol rioters.
4. Placement on the No Fly List
Another consequence that individuals participating in the Capitol riot likely did not consider is that some appear to now being placed on the “No Fly List.” The No Fly List is a list created and maintained by the United States Terrorist Screening Center (TSC) of individuals who are prohibited from boarding commercial aircraft for travel within, into or out of the United States.
Already it looks as if some individuals have had difficulties returning home from Washington, D.C. after their participation in the Capitol riot. It can be extremely difficult to ever be taken off this list after being placed on it.
For those Capitol rioters who engaged in violence or other actions that hurt others, they are likely to face civil lawsuits when they are identified. Insurers will be unlikely to defend them so rioters will face significant legal and liability costs. Others who did not participate in violence towards others but were present may also be called as witnesses and be dragged into multi-year litigation.
This is just an interim list of consequences for Capitol rioters as there are a number of other potential consequences they may face in the days and months to come as a result of their actions.
The Capitol riot was a horrific event that caused at least two police officers to tragically lose their lives, more than 50 other police officers to be injured, in addition to a number of rioters who lost their own lives. Those who participated in the Capitol riot are going to face a number of legal consequences as a result of their actions.
This regularly-scheduled sponsored column is written by the Arlington Initiative to Rethink Energy team (AIRE). This county program helps you make smart energy decisions that save you money and leaves a lighter footprint on the environment.
Late last year, the Arlington County Board adopted sweeping updates to the Community Energy Plan, setting ambitious targets for transforming the county’s energy sector.
Some highlights of Arlington’s Community Energy Plan (CEP) include:
- Set goal of a carbon-neutral Arlington by 2050
- Government operations to achieve 100% renewable electricity by 2025
- Community to achieve 100% renewable electricity by 2035
- Consider energy equity during implementation
County staff are working to finalize the Implementation Plan to reach CEP goals. We need your input on the draft Community Energy Plan Implementation Framework.
Visit the Implementation Framework engage page to provide your feedback. There, you’ll find background videos, additional information and a button at the bottom to provide input directly on the draft Implementation Framework.
Comments are being accepted until February 1, 2021.
Thank you for all of the community effort to update the Community Energy Plan.
We look forward to finalizing the Implementation Framework to help reach Arlington’s ambitious goals in the coming years.