Solid brick home with light bright family room addition off the kitchen. This N. Arlington home in the Discovery school district is listed for $785,000 and appraised in August for $800,000. Just over 1 mile to the EFC metro. Open house 1-3 on Sunday. For a private showing, call Jane Jensen 571-228-5656, email firstname.lastname@example.org
Here are your December 2017 Arlington Va Real Estate Statistics. Inventory continues to lag. There were 351 active listings in Dec. 2017 as opposed to 399 in 2016. New listings, new contingent contracts, new pending sales all lagged behind 2016. Buyers are waiting out new inventory. They have shown a reluctance to pay more just because inventory is low. The detached average sold price dropped 3.43% year over year, while the attached average sold priced crept up 1.40%. Attached and Detached number of units sold but dropped year over year. If you are buying in Arlington, Va or selling or thinking of selling in Arlington it’s important to note that these are county wide numbers. There will be differences when looking at specific zip codes or even neighborhoods within those zip codes. When pricing an Arlington property it’s important to understand what’s happening to real estate prices in the specific neighborhood you are in. If you would like additional information about zip codes or neighborhoods, ask a specialist. Jane Jensen 571-228-5656 or email@example.com
The 2018 Arlington county real estate assessments are in. The following is a press release from the county, including a link to find your current assessment. Yes, your assessment probably went up, yes, you’ll pay more in taxes, yes your home is now worth more and that’s a good thing.
Arlington Property Values Rise at Slower Rate in 2018
Arlington County property values grew at an overall slower rate in 2018 compared to the previous year, as the County completed its annual assessment process. Declines in office property values were the main driver of the slowdown.
Overall, the combined value of all residential and commercial property rose by 1.9 percent over the past year, compared to 3.0 percent the previous year.
Residential properties recorded a solid 3.9 percent increase, up from 2.5 percent last year. The value of the average Arlington home, 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.”
Most commercial property values rose in 2018, too, with hotels, retail and apartments all posting gains. Existing apartment values increased 4.1 percent, reflecting increasing rents, while general commercial increased 2.7 percent and hotels increased 1.0 percent.
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. This decrease was driven primarily by office vacancies as well as rent concessions.
Real estate assessments will be mailed on Saturday, Jan. 20, to all Arlington property owners. Calendar year (CY) 2018 assessment information will be available online Friday, Jan. 19, at 11 p.m. The CY 2018 assessment is an estimate of the fair market value as of Jan. 1, 2018. Look up your 2018 property assessment.
Slower growth in assessments will impact County budget
Arlington, like all local governments in Virginia, relies heavily on revenue generated from real estate property taxes to fund vital services for residents, visitors, businesses and workers.
This past fall, County officials projected a 3.2 percent increase in the value of all residential and commercial real estate—and a comparable increase in tax revenues. With actual growth of 1.9 percent, the County will face a greater shortfall as it works to develop a balanced budget for the upcoming 2019 fiscal year, which begins July 1.
Expenditures are rising at a greater rate than revenue, due to normal inflationary cost increases and other pressures, including rising costs for social services for residents, significant increases in enrollment in Arlington Public Schools, and increasing debt service costs.
The County and Schools will work with the community to determine how best to balance these and other competing demands, including making strategic investments to enhance the County’s economic competitiveness and minimizing the burden on County taxpayers.
The County Manager and Arlington Public Schools Superintendent will present their budgets to the County Board and School Board in late February.
For more information on the budget process, visit the County Budget webpage.
About real estate assessments
Real estate assessments are not appraisals. They are the County’s opinions of value for each parcel of real property in Arlington. The assessments are made using accepted methods, standards and techniques of the real estate appraisal and assessment profession. For more information, visit the County webpages on real estate assessments.
Ben Hampton, 703-228-3225
Look past the green carpet and you’ll see an incredible real estate opportunity in N. Arlington. Priced at $785,000, this lovely brick home located in the new Discovery School district of N. Arlington. This home is larger than it looks and features a family addition off a sizable kitchen. Large deck off the family room for barbecues and entertaining. Near shopping and restaurants including CVS, Peking Pavillion, Backyard Barbecue and more. Easy access to bus service and near the East Falls Metro too. 3 bedrooms with a potential 4th in finished room in basement. Storage in Large finished lower rec room and extra storage too. Lots of space for the money in this neighborhood of $1M-$2M homes. Visit the Open house from 1-4 on January 14, 2017 or call or email me for a private showing. 571-228-5656 firstname.lastname@example.org.
Just listed. This well maintained, well loved home in N. Arlington. Located at the corner of Williamsburg Blvd. and Potomac St. Location provides easy access to the shops and restaurants at the Williamsburg Circle and the East Falls Church Metro. The Arlington schools are Discovery, Williamsburg and Yorktown. This home is larger than it looks and features a nice family room addition off the open kitchen as well as a finished sun room. The addition is light and bright and includes skylights. There is a large deck off the family for summer entertaining and BBQs.The snow and cold won’t last forever.The lower level features a large recreation room and a separate room that could have various uses. The addition of a larger window could make this a 4th bedroom. This is an attractive Arlington real estate investment. It’s located in a neighborhood full of $1M-$2M homes so you can feel free to use your imagination to do whatever updates you choose. The HVAC system and roof are newer. It’s listed at $785,000 and appraised in August 2017 for $800,000.
Contact me at 571-228-5656 or email Jane Jensen at email@example.com to see it. Open house will be Sunday January 7 from 1-4.