Arlington, Va Real Estate Market Statistics for August 2016

Below are the most recent available monthly real estate statistics for Arlington County. In general year of year numbers are positive. Inventory continues to fall short of last years numbers. This along with continuing low interest rates is bolstering the average sold price. Higher priced Arlington homes are also contributing to higher total volume. 66 homes (64 detached and 2 attached) with 4 or more bedrooms closed in August. This is up from the 55 in the same period last year. The average sale price for the detached homes was $1,088,396, up almost 3% from last year. The softest spot seems to be in the lower end detached which saw small decrease in the average sales price and the condo/townhome 1-2 bedroom market which saw the average sales price fall to $481,800 from last years $550,422 for the 6 units sold. This is a snapshot of all inventory in Arlington real estate that was listed in the MLS. To get a true market analysis for your property, it’s important to look at zip codes, neighborhoods, commutes, metro access etc. When purchasing or selling a home, the only important numbers are those that a true comparables to that specific property. For other Northern Virginia Statistics or questions about your community or home, contact me at janejensen@comcast.net. 571-228-5656august2016marketstats


Gardening in Arlington, Va

I am an avid gardener. I will post some photos of some of the plants I have in my yard shortly. In the mean time, I will be checking out this native plant sale.  You should too. This news is courtesy of Arlington Parks and Recreation.

 

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AUGUST 30, 2016

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Want to make your yard welcoming to local birds, bees and butterflies? Plant native and they will come! You can view the order form online at here. Order today and pick up your plants at Long Branch Nature Center on Sat. Sept. 17, 1-4 p.m. Rain date is Sun., Sept. 18, 1-4 p.m. Questions, call 703-228-6535.

Why Plant Native?  Native plants are local to our area so tolerate our crazy weather, they don’t need a lot of care once establish and they provide food and habitat for our local species.

Why Plant in the Fall? Fall is the best time of year for planting. It’s when most plants are focusing on growing and expanding their roots, which in turn helps them to come back strong in the spring. Plus, fall’s wet, mild weather means less watering is needed on your part to keep plants alive and thriving.

Habitat Restoration – Volunteer!                            

Help increase native species diversity right here in Arlington at Gulf Branch Nature Center Sat., Sept. 10, 2-4 p.m. Work parties are held monthly and are making a real difference, with the return of ferns and wildflowers, and the animals that depend on them, in areas once covered in destructive invasive plants. No registration required. Call  703-228-3403 for more information.

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Animal Senses

Eagle eyes, rabbit ears, catfish whiskers…how do animals use their senses differently or the same as humans? Join us on Sat., Sept. 10, 1-2 p.m. at Long Branch Nature Center. We’ll do experiments and games to examine how animals use their senses in nature hike challenges. Details hereRegister online or call 703-228-4747Select activity #612926-D. Only $5 per person.

What’s a Teen to Do?

There are lots of fun and rewarding things for teens after school this year.  Teens will have fun, make new friends and develop skills.  Consider afterschool clubs at HB Woodlawn, Williamsburg and Kenmore and drop-in programs at Arlington MillGunstonLubber Run and Thomas Jefferson Community Centers.  Learn more here or contact OFT@arlingtonva.usQuestions? Call 703-228-0945.

Cricket Music

Join us on Tues., Sept. 6, 1–2 p.m. at Gulf Branch Nature Center to learn about crickets, the masters of autumn music. We will explore the cricket life cycle, habitats and listen to an orchestra of six-legged musicians. Details here.  Register online or call 703-228-4747. Only $5 per person.

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Northern Virginia Bird Club Walk

Join members of the Northern Virginia Bird Club on Wed., Sept. 7, 8:30–11 a.m. for an informal walk through Long Branch Nature Center at Glencarlyn Park in search of resident and migratory birds. Experienced and beginning birders welcome. Bring binoculars and field guides if you have them. Details here.Register online or call 703-228-4747Use activity #612946-A. This event is free.

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Free Peeps! And..a great N. Arlington Open House

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3205 N. Pershing Dr. Arlington, Va. Just .7 from the Clarendon Metro. Come see this terrific home on Sunday March 20th from 1-4. This classic 1929 Bungalow has been updated with all of today’s modern conveniences. The home features large rooms, big windows and all of that beautiful moulding that we love in these classic homes.

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The home features 2 bedrooms on the main level, 3 upstairs and and a fifth room downstairs (window is too small to call it a bedroom).

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Sink and fridge on lower level too. The lower level has a separate entrance as well. Expansive….and I mean expansive back yard. This home features a fenced lot that is almost 16000 Sq. Ft….and it’s a flat lot. Imagine the possibilities.

This home is listed at $1,199,000 and is only .7 miles to the Clarendon Metro.  Call me to see it before Sunday (You’ll get a Peep advance as well) 571-228-5656 or email me at Janejensen@comcast.net. Click Subscribe above to stay up to date on all the local real estate news and free Peep (and other things) giveaways.

 


Coming Soon: Arlington Bungalow near Clarendon

Love Craftsman style homes? I do.  Large windows, beautiful molding?  Me too. If you’re like me you’re going to love this classic Arlington, Va. home originally built in 1922. Long time owners raised their family here.  It’s being freshly painted, highlighting all that beautiful 1922 molding.  This home has been updated but all the things you love about the classic bungalow are there. Welcoming front porch, large living room with wood burning fireplace, spacious dining room with gorgeous windows. 5+ bedrooms. The 3 upstairs bedrooms include a master with large sitting room (maybe a future luxury bath or walk in closet?). 2 bedrooms plus a full bath on the main level. Lower level has a family room, a room used as a bedroom and a kitchenette (sink and refrigerator).

All of this and the home sits on a 15,777 square ft flat lot. If you don’t know how big this is you haven’t been looking at Arlington, Va real estate for long. In a neighborhood of 5000-10,000 sq. ft lots, this is an incredible find. Imagine what you could do with that.

All of this within .7miles of the Clarendon metro and all of the shopping, restaurants and other activities that the area has to offer.

The home will be coming on the market the first week of March. It will be priced between $1.2M-$1.3M.  Be on the look out…or call me to see 571-228-5656. janejensen@comcast.net. Your Arlington, Va real estate specialist.

3205 N. Pershing Dr. Arlington, Va. 

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What makes Arlington a world class community?

This video about Arlington, Va. was created a few years ago but is still exceptionally relevant today. I’ve lived here for 25 years and the reasons people cite in this video for loving this community, are the reasons I stay.

Arlington is exceptionally welcoming, diverse and friendly. It’s committed to providing residents with a safe, comfortable environment. Some other things I’ve personally noted is the commitment to the environment, making Arlington, Va. walker and biker friendly, community space, education, art and culture.

As an Arlington, Va. realtor I’ve long noted the different flavors different neighborhoods within our small geography have. And..it’s been interesting to watch various neighborhoods change and evolve over the years. When I moved here the Shirlington neighborhood did not even exist as a town center and Clarendon was a few bars (Remember when Bardos had a car going through their front window?), a Sears and a bike store. Times have changed and almost without exception (I do miss Queen Bee…that fabulous Vietnamese Restaurant) the changes have been well managed and great for the community. I continue to love living here and you will too. What is it that you think makes Arlington great? I would love to hear your comments.

 


Arlington, Va property values increase modestly

Arlington County issued the following press release on January 15, 2016. Most of us can expect to see a slight uptick in our assessments and hence a slight increase in our taxes. No one likes taxes, but everyone likes their home value to increase so try to smile when you pay up.

Arlington 2016 Property Values Increase Modestly

  • Overall increase of 2.8%
  • Average residential property up 2.8%, to $603,500
  • Commercial values slightly positive
  • Assessments available online 11 p.m. tonight

Arlington County real estate assessments for 2016 show an overall increase in property values of 2.8 percent over 2015. Residential and commercial property values increased slightly.

The value of the average Arlington residence (existing single-family properties, including condominiums, townhouses and detached homes), increased 2.8 percent from $587,100 in Calendar Year (CY) 2015 to $603,500 in CY 2016. New construction value was up 0.7 percent, and existing real estate value was up 2.1 percent.

“Arlington’s real estate market remains solid,” said Arlington County Manager Mark Schwartz. “We see strength in both our residential market and commercial properties, particularly new construction. This is the best evidence that Arlington remains a very desirable place to live and do business.”

Real estate assessments will be mailed today to all Arlington property owners. Calendar Year (CY) 2016 assessment information also will be available online at 11 p.m. tonight. Look up your property assessment.

The commercial tax base, which includes office buildings, apartments, hotels, and retail, increased 1.3 percent over CY 2015 for existing properties.

Existing office property values increased 2.2 percent, due in part to a stabilizing office vacancy rate. Apartments, which represent just over 40 percent of the commercial tax base, increased in value almost 5 percent, with half of this growth from new construction. Values of general commercial property (which includes various types of retail) declined 3.5 percent, due in large part to redevelopment and to general commercial properties becoming commercial office space.

Budget outlook

 

As the County develops its Fiscal Year (FY) 2017 Budget, the challenge is to balance investment needs – including strategic investments necessary to enhance Arlington’s economic competitiveness, respond to growth in school enrollment, and meet other core service demands — with the need to minimize the burden on County taxpayers.

The Board gave the County Manager budget guidance in November 2015 for the FY 2017 Budget. At that time, tax revenues were projected to increase from 1.9 percent to 2.4 percent, and there was a projected combined County and School gap of approximately $15 million. With slightly higher real estate assessments, additional funding can be considered by the County Board during the FY 2017 budget process to address County and School needs.

The County’s single largest cost is funding the Arlington Public School (APS) system. For FY 2016, the County’s funding of Schools is 46.5 percent of all local tax revenue and an investment of more than $18,000 per student. Continued year-over-year growth in school enrollment has led to the need to expand some School facilities and build new ones. Educational costs also have risen.

Both the County and Schools have prioritized needs and made funding decisions over the last several years during lean financial times. The County and Schools will work with the community to balance their priorities within this year’s fiscal constraints. The County Manager and School Superintendent will present their proposed budgets to the County Board and School Board in late February. The County Board will set the real estate tax rate in April.

For more information on the budget process, visit the County’s Budget web page.

About real estate assessments

 

Real estate assessments are appraisals — the County’s opinions of value for each parcel of real property in Arlington. Assessments are made according to accepted methods, techniques, and standards of the real estate appraisal and assessment profession. The 2016 assessment is an estimate of the fair market value as of January 1, 2016.

Residential assessments were based primarily on neighborhood sales occurring July 1, 2014 through August 31, 2015. The real estate tax rate determines the amount of tax that is levied on the property. A uniform tax rate for all real property is set by the Arlington County Board. State code requires the County Board to use a uniform tax rate. In addition, Arlington levies additional taxes on commercial and industrial properties dedicated to transportation investments, as well as taxes for business improvement and sanitary sewer needs.

For more information, visit the County website and search “real estate assessment.”

 

Media Contact: Richard Stephenson, 703-228-3412.


Get your Real Estate Statistics for Arlington, Va

December Statistics are in. Here they are:

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The average Arlington, Va sold prices barely changed dropping to $641,971 from $645,962 in 2014. The median sold price dropped just a bit from $571,000 to $559,000. The average list price for colds dropped a small amount from $658,627 to $651,786 and the average list sales price to list price ratio was 96.3%

It could be tempting to say that the Arlington, Va real estate market has been mostly flat year over year but if we go a little deeper we can see that the average price for detached homes went up fairly significantly from $880,991 to $945,824. The drop in average sales prices came from attached homes (condos/townhomes etc) which dropped from an average of $471,803 to $441,653. The general takeaway is that you “may” expect to pay less for an Arlington, Va townhouse or condo this year then you would have last year and you “may” expect to pay more for a single family home.

This is important information when you are pricing your home or making an offer. Information is your ammunition. These statistics are general and county wide so if you are getting ready to list or thinking of buying you need to have your agent look closely at your neighborhood statistics. That’s why I put “may” in quotes above. When it comes to the amount you offer or list your home for, location is everything, even in a geography as small as Arlington. Some condo complexes may have gone up in popularity and price, while others may have seen a decline. The same is true for various neighborhoods around Arlington.  Make sure you do you your homework.



Arlington Board to Review Affordable Housing

Press Release from Arlington county:

County Board to Discuss Affordable Housing Master Plan, Implementation Framework in Work Session

Board to hold public hearing, vote on plan in September
Plan addresses affordable housing distribution
The Arlington County Board tonight will discuss recent staff updates to the Affordable Housing Master Plan and Implementation Framework. The purpose of the work session is to address remaining Board member questions in advance of the County Board’s September 19 meeting to consider adoption of the Plan.

The County is seeking a 25-year Plan that will guide the next generation of affordable housing investment in Arlington because providing a range of housing options affordable to persons of all income levels and needs throughout the County supports our people, improves our neighborhoods and strengthens our economy.

“The Plan our community has worked on for nearly three years is a great step forward from where we are today,” said Arlington County Board Chair Mary Hynes. “We all share the same goals for Arlington: we all want high-quality neighborhoods and schools, we all want housing to be accessible and fairly distributed, and we all want a sustainable, strong economy. To support these goals, the Board is considering and addressing a wide range of factors related to our mix of housing. When all is said and done, following the Board’s final consideration in September, this Plan will be an important road map for preserving and expanding the supply of affordable housing across Arlington.”

In June, the County Board voted to set September public hearings and requested the County Manager to collect more community feedback on key issues such as geographic distribution of affordable housing. As a result, a number of changes have been made to the draft plan.

Affordable Housing Master Plan clearly addresses distribution

The plan addresses geographic distribution with a three-tiered solution grounded in Arlington’s long-held transit-oriented development policies.

Preserving existing affordable units. Preservation of committed affordable housing units and market rate affordable housing unites means that existing housing, such as Arlington’s historic garden apartments, will be preserved.
Locating affordable housing close to transit corridors, including bus routes. Pairing housing units with reliable transportation options is a sustainable way to reduce traffic, allow easy access to jobs and services and promote a walkable community.
Flexible land use and zoning policies. Adjusting land use and zoning policies to allow a variety of housing types beyond urban corridors. High housing costs and changing family structures can mean that existing homes don’t always meet the needs of Arlington residents. This would allow single-family neighborhoods to provide quality, affordable choices for multi-generational households, older individuals living on their own, young working people and others. Further study will investigate what changes could maintain neighborhood character while allowing housing choices to evolve.
Building off of – and moving beyond – existing sector plans, specific transportation corridors are identified and goals for the number of affordable housing units for those corridors are proposed. The Plan, when implemented, would strive to ensure that about 17.7% of Arlington’s housing stock (down from 25% in 2000) is affordable to those making 60% of area median income.

Implementation Framework includes existing and potential tools

Arlington has a track record of successfully investing in affordable housing development and tools. The proposed Implementation Framework is a tool kit of new and existing strategies that could be used separately or in combination to achieve the goals of the plan. Tools outlined in the framework include:
Financial assistance to support the construction, acquisition and rehabilitation of affordable housing
Land use regulations and incentives that leverage private development activities to increase the supply of affordable housing
Programs designed to help low-income and at-risk populations find and maintain safe and affordable housing.
Some new tools would require additional Board action or could involve working with the General Assembly.

Near-term priorities in the implementation plan are budget-conscious, and focus on revisiting planning and zoning tools before financing tools.

Staff will develop a monitoring and evaluation plan that annually reports and tracks the County’s progress toward goals and objectives. Staff anticipates this report to be ready by the end of 2016.

About the Affordable Housing Study

The County Board initiated the Affordable Housing Study in 2012 to evaluate existing policies; assess current programs and resources; and identify needs and gaps in provisions for affordable housing.

The County Manager appointed a 19-member Affordable Housing Study Working Group to shape the community’s affordable housing vision. Together with County staff, the group drafted the Affordable Housing Master Plan, to be included as an element of the County’s Comprehensive Plan.

By 2040, 17.7 percent of Arlington’s households are projected to be low-income — at or below 60 percent of the Area Median Income (AMI). Sixty percent of AMI today is $64,480 for a household of four.

Recommendations in the proposed Affordable Housing Master Plan were based on research, athorough needs analysis, in-depth forecasting, surveys, working group meetings and community workshops. The plan proposes three goals that focus on housing supply, access and sustainability. The Implementation Framework proposes modifications to existing tools and potential new tools in the areas of financing, land use and services.

View the Draft Affordable Housing Master Plan.

View the Draft Implementation Framework.

To learn more about the Affordable Housing Study, visit the County website.

Media Contact: Jessica Margarit, 703-228-3551.


Coming Soon, new townhome listing in Fairfax $375,000

Great townhome in sought after Glen Cove. 3 bedrooms and 2.5 baths with 1771 finished square feet. This home has been well maintained with a four year old HVAC, new water heater and disposal. Long time owner is leaving area and selling this home as is for an incredible price of $375,000. Check the comps and you will see what a great deal this home is. Call me to see it.
571-228-5656. janejensen@comcast.netIMG_5459