Sun Gazette Arlington, Summer Real Estate Guide, June 28, 2018

2018 ARLINGTON

SUMMER REAL ESTATE GUIDE

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Right here in Northern Virginia helping you with one of your largest investments. Whether you are buying or selling, call Mark Middendorf to ensure a smooth and stress-free transaction. A real estate transaction should be a wonderful and pleasant experience and I can help you achieve that.

MARK MIDDENDORF 703.928.3915 mark.middendorf@longandfoster.com

Voted Best Realtor by Washingtonian Magazine

4600 Lee Hwy., Arlington, VA 22207 | 703.522.0500

‘Neighborhood College’: New Class Is Celebrated

PHOTO BY DAVID HATHCOX PHOTOGRAPHY

Arlington County Board members on June 19 honored a new crop of graduates from the Neighborhood College initiative.

The 24 participants in the 19th class of the program (which traces its roots to 2000) participated in eight courses and learned about civic leadership in the community. They also committed to doing at least 10 hours of volunteer service in coming months.

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The class represents “an amazingly diverse group of people,” said County Board Chairman Katie Cristol, who herself is a graduate of the program.

“We are really proud of our tradition and long history of civic participation,” Cristol said.

Graduates of the most recent program included Alison Acker, Columbia Forest; Sneha Barot, East Falls Church; Maura Danehey, Virginia Square; Nich-

SUMMER REAL ESTATE GUIDE | JUNE 2018

olas (Cole) Deines, Ashton Heights; Rob Dvorak, Radnor-Fort Myer Heights; Jane Green, Arlington Ridge; Andrew Greenwood, Penrose; Bruce Hightower, Columbia Forest; Daniel Howard, Long Branch Creek; Mary Humphreys, Aurora Highlands; Bohdan Kantor, Clarendon Court House; Maria Ignacia Klopf, Virginia Square; and Samira Mansouri, North Highlands.

Also, Amanda Moore, Barcroft; Mi-

chele Peters, Barcroft; Emily Pfister, Buckingham; Ryoko Reed, Arlington Forest; Rafael Sampayo, Arlington View; Alyson Jordan Tomaszewski, Douglas Park; Dayana Torrez, Alcova Heights; Alejandra Underwood, Foxcroft Heights; Melia Ungson, Lyon Park; Manuel Vicens, Barcroft; and Miranda Zengue, Douglas Park.

– A Staff Report

GLEBEWOOD 2120 Brandywine Street N Arlington, VA

OLD TOWN 230 N Saint Asaph Street Alexandria, VA

$524,900

$869,000

Debran McClean +1 202 494 8202

Christine Morgan +1 202 549 3001

VILLA FIRENZE 1105 Waverly Way McLean, VA

POTOMAC CLIFFS 187 Chain Bridge Road Arlington, VA

$4,795,000 $3,295,000 Matt Allen +1 202 256 6819 Mark Lowham +1 703 966 6949

Jonathan Taylor +1 202 276 3344

CHERRYDALE 1805 N Monroe Street Arlington, VA

GEORGETOWN 3338 Dent Place NW Washington, DC

Price Upon Request $1,975,000 Ruth Boyer O’Dea +1 703 338 2277 Sheri Grant +1 703 405 1016

Michael Rankin +1 202 271 3344

BROYHILL FOREST 2522 N Upland Street Arlington, VA

GREAT FALLS 10411 New Ascot Drive Great Falls, VA

$2,425,000 $7,995,000 Ruth Boyer O’Dea +1 703 338 2277 Sheri Grant +1 703 405 1016

Mark Lowham +1 703 966 6949

LYON VILLAGE 3140 Key Boulevard Arlington, VA

McLEAN 720 Potomac Knolls Drive McLean, VA

$2,195,000 $2,495,000 Sheri Grant +1 703 405 1016 Ruth Boyer O’Dea +1 703 338 2277

Heather Corey +1 703 989 1183

A R L I N G TO N , VA B R O K E R AG E 2 3 0 0 C L A R E N D O N B LV D, S U I T E 2 0 0 | + 1 7 0 3 74 5 1 2 1 2

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©2018 TTR Sotheby’s International Realty, licensed real estate broker. Sotheby’s International Realty and the Sotheby’s International Realty logo are registered service marks used with permission.

Each Office Is Independently Owned And Operated. Equal housing opportunity. All information deemed reliable but not guaranteed. Price and availability subject to change.

JUNE 2018 | SUMMER REAL ESTATE GUIDE

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Q&A: What Improvements Get Bang for the Buck?

DAVE FACINOLI Staff Writer

If a homeowner has $1,000, $10,000 or $50,000 to spend, how would top real-estate professionals advise them to spend the various amounts to maximize the sales price for the home?

Some local Realtors and experts were asked that question. Here are their answers: Casey Margenau, Casey Margenau Fine Homes & Estates: “Put a dumpster in your driveway and, anything you haven’t touched in a year, throw it away. Buyers want clean and well-taken-care of homes. Do all of the little things – paint inside and out, have rotted wood fixed, clean the return vents, fix holes in the driveway, have the bathroom tile looking good.

Repair and replace to have the property on par with others that have sold.

I would not renovate a house to sell it, because 99 percent of the time you lose money on those renovations.”

Karen Briscoe, Huckaby, Briscoe, Conroy Realty Group, Keller Williams: “The biggest bang for the buck is decluttering and freshening up. Giving a face lift like that can be done for $1,000. For $10,000 – Paint, freshen up the kitchen and improve the frontdoor presentation and that area. For $50,000 – Improve the kitchen and bathrooms, improve and update the

lighting fixtures in the dining room, and work with a professional stager to figure out which things about the property can make the biggest impressions.”

Lilian Jorgenson, Long & Foster: “Of course, it depends on the amount.

I would advise fresh paint, light fixtures, door handles and knobs for the lower amount. After that, it would be renovate kitchen and baths and also landscaping; cut down, trim and plant. Freshly painted front door and new hardware.”

Casey Samson, Samson Properties: “For $1,000 – Paint key rooms with 2018 colors. For $10,000 – Paint more rooms, repair any items that need repair. For $50,000 – Take it off the price. Any additions or upgrades in that range only return 50 cents on the dollar. Parties don’t sell homes.

Pricing, condition and marketing sell homes. “ Dee Murphy, Long & Foster: “For $1,000 – Landscaping and house cleaning. For $10,000 – Paint and carpet. For $50,000 – Kitchen and master bath. The most important thing is making the home feel clean and fresh, even if everything in it is 50 years old.”

Dave Adams, Coldwell Banker: “For $1,000 – That would be used for a neighbors’-only open house. For $10,000 – That could be used for either upgrading the outside landscaping or

updating a one-half bath. For $50,000 – That could be used to update the kitchen, which is a great return on your investment.”

Natalie Roy, Keller Williams: “For 1,000 – Basic minor repairs, paint touch ups and yard clean up. For $10,000 – Refinishing floors, replacing carpet, painting, staging, making basic repairs and landscaping. For $50,000 – Consider putting the rest into bigger-ticket items such as HVACs, hotwater heaters or electrical panels. You will get a bigger bang for your buck with improving systems than, for example, if you remodeled a bathroom or put in new kitchen granite counter tops where you run the risk of imposing your tastes on an upgrade a new homeowner might not want. If you do not need a new HVAC or hot-water heater, than put the rest in the bank.”

Lori Shafran, Yeonas and Shafran Real Estate: “Decluttering and cleaning is the least expensive thing that can be done with a little elbow grease.

Mulch the front beds outside, caulk the bathroom areas, make the front door and that area look good and change the switch and electrical plates. For $10,000 – Paint and change the lighting fixtures. For $50,000 – The kitchen is alway the hot-button of the house, so check on what that looks like.”

Susan Joy, Long & Foster: “Update kitchens and baths. Change out light-

ing for new fixtures. Repaint interior in neutral colors. Stage the house. Landscaping is important – are the shrubs overgrown and sad? Put in new front landscaping so the house presents well from the street.”

John Mentis, Long & Foster: “For $1,000 – Focus on the easiest things with the great impact: having the home professionally cleaned including the windows; putting down your own mulch in the garden beds and planting annuals. For $10,000 – Repaint as needed, refinishing wood floors as needed, and replacing carpeting. Take a look at replacing the water heater and kitchen appliances if/as needed.

For $50,000 – Look into remodeling bathrooms and/or the kitchen.”

Jane Price, Weichert: “For $1,000 – Spruce up the curb appeal (entrance to home, front door, cleaning up landscaping). For $10,000 – Fresh interior paint and flooring. For $50,000 – Updates to kitchen appliances and countertops and baths.”

Robert Hryniewicki, Washington Fine Properties: “For $1,000 – Hire professional cleaners, hire professionals to wash the windows, organize and declutter, clean up landscaping. For, $10,000 – Paint the property a neutral color and possibly hire furniture stagers. For $50,000 – Typically, a seller Continued on Page 5

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SUMMER REAL ESTATE GUIDE | JUNE 2018

Q&A: Spend Smartly to Get Biggest Bang at Sales Time Continued from Page 4 should never spend this amount. If the seller does have $50,000, then possibly invest in additional landscaping, updating a couple of baths. Once you start spending more than $10,000, you tend not to recapture the dollarfor-dollar investment.”

Diane Lewis, Washington Fine Properties: “For $1,000 – Paint touchup, windows cleaned, landscaping. For $10,000 – Staging, painting, update light fixtures. For $50,000 – Update kitchen and bathrooms and staging.”

Eli Tucker, Eli Residential Group: “My approach is always to bucket presale investments in groups where it only makes sense to do everything in the group or nothing.”

Debbie McGuire, Keller Williams: “If everyone else has granite or quartz counters and updated baths at the price point, then they need to bring their home up to market value. Also, the outside amenities and conditions are just as important. So money spent on a deck or to stage the outside is very important. All the other incentives – parties, etc. – don’t matter if the condition and price are not in alignment.”

Rob Ferguson, ReMax Allegiance: “For $1,000 – Straight painting and cleaning. For $10,000 – Refinishing hardwood floors, carpeting and freshening up. For $50,000 – Kitchen and bathroom renovations; replacing an old roof, windows, water heater, furnace and a modern facelift.”

Gloria Adams, TTR Sotheby’s International Realty: “For $1,000 – Take care of key things like having the front door work and look nice, fresh paint inside, working and fresh light fixtures, paint the inside brick of the fireplace.

For more, have a digital thermostat, update the bathrooms with high-level vanities and update the windows.

Younger buyers like all of that.”

Steve Wydler, Wydler Brothers Real Estate: “For $1,000 – Fix handyman items (i.e. toilets that flush funky, doors that don’t latch properly). For $10,000 – Paint, replace carpets, put in new light fixtures and staging. Tip: use the latest paint colors and light fixtures you’d see in new-construction homes. For $50,000 – Any improvements beyond the budget should be discussed with a Realtor. You want the house to be internally consistent when you hit the market.”

Mark Middendorf, Long & Foster: “Often you have sellers with no money or $25,000. Decluttering, fresh painting, update flooring and carpeting and landscaping. It will take a couple of thousand to do that.”

Dawn Wilson, TTR Sotheby’s International Realty: “In general, for $1,000, the money is probably best spent on fresh paint. For $10,000

– New carpet and/or refinishing hardwood floors, some updates in the kitchen and bathrooms, and annual flowers for the yard if it is the right season. For $50,000 – Remodel of kitchen and/or bathrooms as needed, and landscaping.”

Dean Yeonas, Yeonas and Shafran Real Estate: “For $1,000 – Clean as much as you can. Make sure the front door knob looks nice and works, and mulch outside. For $10,000, – Repair the cosmetic items inside the home, like refinishing floors and updating the carpets. Do a home inspection to identify problems not seen.

For $50,000 – Renovate kitchens and baths, replace an old water heater and the HVAC system.”

Ann Wilson, Keller Williams: “Curb appeal gets people in the door, so that can be for $1,000. For more, spend on freshening up the kitchen and painting the whole house. For $50,000 – Remodel the kitchen. No one wants to buy a house and have to redo the kitchen.”

Jack Shafran, Yeonas and Shafran Real Estate: “For $1,000 – Mulch, do touch-up painting, plant flowers and spruce up in the right places. For $10,000 – Work with a stager to best complement the home. For $50,000 – The best place to put the money first is in the kitchen, then the bathrooms.”

Tom Hanton, Keller Williams: “The answer depends on the specific property. Is your house a tear-down possibility? Sometimes $300 for a pressure washing of the exterior and a dozen bags of mulch will make the house ‘pop.’ Sometimes replacing that royal blue shag carpet is the best answer. If the house has recently updated baths and the kitchen looks a million, you might want to go the extra mile and replace the old windows or refinish the floors.”

Gail Beth, Keller Williams: “A budget of $1,000 is a challenge. The best use would be to concentrate on curb appeal. An investment in colorful flowers and upgraded landscaping offers a great first impression. With $10,000, the kitchen and master bath will benefit. In most cases I’d not encourage spending $50,000. There’s a risk of return on investment not happening quickly enough. Last but by no means least, money spent for professional staging of the home will absolutely ensure a quicker sale at a higher price.”

Betsy Twigg, Washington Fine Properties: “I have a saying ‘Remove the ick factor.” You don’t want anyone coming into a home and saying ‘ick.’ For $1,000 – Clean, declutter and paint where necessary. For $10,000 – Get new carpet, refinish hard-wood flooring and do the obvious handyContinued on Page 22

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Contact a sales manager for more information – 202.570.6003 or 703.955.1187.

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• Under a mile to Ballston Metro and new mall • 5 BR, 4.5 BA, 4,050 sq. ft.

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Each office is independently owned and operated.

JUNE 2018 | SUMMER REAL ESTATE GUIDE

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Updated Pre-War Charmer Standing Tall

Cherrydale Property Has Flexible Layout – and a Private Courtyard Area

C

herrydale long has been one of Arlington’s most sought-after communities, for a host of reasons – from the central location to the neighborliness of the surroundings and, yes, to some of the trees that gave the neighborhood its iconic name.

Our featured property offers a marvelous opportunity to own an updated and expanded pre-war colonial with a versatile layout that works for many different living situations. You can walk to the amenities of Ballston yet still come home to the enjoyment of a glorious and private courtyard area. And bonuses proliferate, from the whole-house generator to the in-ground sprinkler system.

The property currently is on the market, listed at $799,000 by Mark Middendorf of Long & Foster Real Estate.

Who would enjoy this home? How about a young-professional couple seeking a single-family abode in a great locale? Or those in the more seasoned-citizen category, seeking to downsize and enjoy urban-village living but without having a condo as a base of operations?

Or perhaps two independent-minded folks who find the home’s floor plan (with two master bedrooms) to be just

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up their alley?

As we enter the home, note the gleaming hardwoods and the visually appealing colors. Natural sunlight streams in.

Room sizes are comfortable, and updates are everywhere – the expanded kitchen is a delight, and provides walkout access to the aforementioned private yard. A sun room is an added bonus.

Each of the three bedrooms (two on the main level, one on the upper) is ensuite. Currently, the third bedroom does double duty as a home office, showcasing the versatility of the layout.

Lovely and filled with TLC, the home

SUMMER REAL ESTATE GUIDE | JUNE 2018

Facts for buyers

is ready to exceed expectations for those lucky enough to next call it home. And why not make that you?

Articles are prepared by the Sun Gazette’s real estate advertising department on behalf of clients.

For information on the home, contact

Address: 1812 North Quincy Street, Arlington (22207).

Listed at: $799,000 by Mark Middendorf, Long & Foster Real Estate (703) 928-3915.

Schools: Glebe Elementary, Swanson Middle, Washington-Lee High School. the listing agent.

For information on having a house reviewed, contact the Sun Gazette’s real estate advertising department at (571)333-6272.

Mortgage Burden: West-Coasters Feeling It Most Acutely The combination of rising interest rates and strong home value appreciation led to one of the largest recorded quarterly increases in the mortgage burden for home-buyers in a decade.

And the Washington region was not immune.

In the first quarter of 2018, the share of median income needed for monthly mortgage payments on the median U.S. home increased to 17.1 percent, up from 15.9 percent in the fourth quarter of 2017, according to Zillow’s latest affordability report.

This was the second biggest quarterly increase in the mortgage burden since the housing market collapsed in 2007.

In the Washington area, the share of median income needed was 19.4

percent.

Throughout the housing-market recovery, low mortgage rates helped sustain housing affordability even as home values climbed to new peaks.

But mortgage rates increased sharply to start the year, rising nearly 50 basis points in the first three months, and affordability is waning as a result.

Mortgage payments haven’t taken up such a large share of the median income since the second quarter of 2009, when monthly housing costs for the typical U.S. home required 17.5 percent of the median income, and mortgage rates were well above 5 percent.

As home values recovered following the recession, wages rose much more slowly. The price-to-income ra-

tio has stayed the same or increased each quarter since the first quarter of 2012, a sign of home-price increases outpacing income growth.

In the first quarter of 2018, the median U.S. home was worth 3.54 times the typical household income. From 1985 to 2000, the average home was worth 2.78 times the median income.

“For the past few years, historically low mortgage rates provided the silver lining for buyers as prices rose higher and higher,” said Zillow senior economist Aaron Terrazas. “If you were able to come up with a down payment, the low rates kept monthly housing costs relatively affordable in most parts of the country. Now, though, as rates are on the rise and home values are climbing at their fastest pace in 12

years, that affordability edge is getting thinner.”

In nine of the 35 largest housing markets, mortgage payments are already a bigger financial burden than they were historically. Seven are along the West Coast, led by San Jose, Calif., where mortgage payments for the median home increased from their historic average of 35.8 percent to 51.2 percent of the median income, the highest required in any of the top metros.

If average mortgage-interest rates reach 5 percent next year, as many economists expect, home shoppers in an additional seven markets would face greater burdens than buyers did historically, including Sacramento, Orlando and Tampa.

Credit: Lower Scores Are Proving Costly in the Long Run Homebuyers with a lower credit score pay thousands of dollars more for the same home than a buyer with an excellent credit score.

A Zillow analysis conducted in May finds that nationally, a borrower with an “excellent” credit score could get a mortgage with a 4.5-percent annual percentage rate.

A similar borrower with a “fair” credit score could get a 5.1-percent rate. Over the lifetime of a 30-year mortgage, this means a buyer with a

fair credit score can end up spending $21,000 more than a buyer with an excellent credit score for the typical U.S. home.

That difference is magnified in expensive markets. In addition to high home prices, the penalty for a lower credit score tends to be higher in more expensive areas.

In San Jose, where the median home value is $1.3 million, a buyer with a lower credit score can end up paying $129,000 more than a buyer

with an excellent credit score over the full life of the loan.

Even if a homeowner doesn’t pay out the full 30-year term on a loan, the annual costs of a fair credit score can add up. A buyer with a fair credit score could pay $700 more every year on the typical U.S. home than someone with an excellent score.

A third of all buyers said determining how much home they could afford was a challenge, making it the most frequently named financing concern

during the home buying process. Beyond the list price of a home, other costs like mortgage interest, property taxes and homeowners insurance can add up, impacting the overall affordability for buyers.

“When you buy a home, your financial history determines your financial future,” said Zillow senior economist Aaron Terrazas. “Homebuyers with weaker credit end up paying substantially higher costs over the lifetime of a home loan.

We appreciate our clients and referral partners who have helped us achieve producing in the top 5% of our office.

To see what we are up to visit us at www.wesellarlington.com Call US for all YOUR Real Estate Needs

Jane Joy Morrison 703-405-9959

Geva Lester 571-249-4382

6820 Elm St McLean, VA 22101 • 703-636-7300 JUNE 2018 | SUMMER REAL ESTATE GUIDE

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Affordability: Median Sales Prices Post Increases Inventory levels hovering at alltime lows weighed down home sales and fueled faster price appreciation during the first three months of the year, according to the latest quarterly report by the National Association of Realtors.

The national median price for an existing single-family home in the first quarter was $245,500, up 5.7 percent from the first quarter of 2017 ($232,200). The median sales price during the fourth quarter of 2017 climbed 5.3 percent from the fourth quarter of 2016.

Single-family home prices last quarter increased in 91 percent of measured markets, with 162 out of 178 metropolitan areas showing sales price gains in the first quarter compared to a year ago.

Fifty-three metro areas (30 percent) experienced double-digit increases, up from 15 percent in the fourth quarter of 2017.

Lawrence Yun, NAR’s chief economist, says record low inventory levels caused the housing market to get off to a slow start in 2018.

“The worsening inventory crunch through the first three months of the year inflicted even more upward pressure on home prices in a majority of markets,” he said. “Following the same trend over the last couple of years, a strengthening job market and income

gains are not being met by meaningful sales gains because of unrelenting supply and affordability headwinds.”

Added Yun, “Realtors in areas with strong job markets report that consumer frustration is rising. Home shoppers are increasingly struggling to find an affordable property to buy, and the prevalence of multiple bids is pushing prices further out of reach.”

Total existing-home sales, including single family and condos, decreased 1.5 percent to a seasonally adjusted annual rate of 5.51 million in the first quarter from 5.59 million in the fourth quarter of 2017, and are 1.7 percent lower than the 5.60 million pace during the first quarter of 2017.

At the end of the first quarter, there were 1.67 million existing homes available for sale, which was 7.2 percent below the 1.8 million homes for sale at the end of the first quarter in 2017. The average supply during the first quarter was 3.5 months – down from 3.7 months in the first quarter of last year.

The national family median income rose to $74,779 in the first quarter, but overall affordability decreased from a year ago because of rising mortgage rates and home prices. To purchase a single-family home at the national median price, a buyer making a 5 percent down payment would need an income of $55,732, a 10 percent down

tional median existing-condo price was $231,700 in the first quarter, up 5.9 percent from the first quarter of 2017 ($218,800). Eighty-five percent of metro areas showed gains in their median condo price from a year ago.

Regionally: • Total existing-home sales in the Northeast slipped 8.5 percent in the first quarter and are 8.1 percent below the first quarter of 2017. The median existing single-family home price in the Northeast was $267,400 in the first quarter, up 4.6 percent from a year ago.

• In the Midwest, existing-home sales fell 6.9 percent in the first quarter and are 1.8 percent below a year ago. The median existing single-family home price in the Midwest grew 5.9 percent to $187,100 in the first quarter from the same quarter a year ago.

• Existing-home sales in the South increased 3.7 percent in the first quarter and are 0.7 percent higher than the first quarter of 2017. The median existing single-family home price in the South was $220,400 in the first quarter, 5.5 percent above a year earlier.

• In the West, existing-home sales in the first quarter declined 1.1 percent and are 2.2 percent below a year ago.

The median existing single-family home price in the West increased 8.2 percent to $371,300 in the first quarter from the first quarter of 2017.

payment would require an income of $52,779, and $46,932 would be needed for a 20 percent down payment.

“Prospective buyers in many markets are realizing that buying a home is becoming more expensive in 2018,” said Yun. “Rapid price gains and the quick hike in mortgage rates are essentially eliminating any meaningful gains buyers may be seeing from the combination of improving wage growth and larger paychecks following this year’s tax cuts. It’s simple: home-builders need to start constructing more single-family homes and condominiums to overcome the rampant supply shortages that are hampering affordability.”

The five most expensive housing markets in the first quarter were the San Jose, Calif., metro area, where the median existing single-family price was $1,373,000; San FranciscoOakland-Hayward, Calif., $917,000; Anaheim-Santa Ana-Irvine, Calif., $810,000; urban Honolulu, $775,500; and San Diego-Carlsbad, $610,000.

The five lowest-cost metro areas in the first quarter were Decatur, Ill., $73,000; Cumberland, Md., $86,200; Youngstown-Warren-Boardman, Ohio, $91,300; Elmira, N.Y., $100,800; and Binghamton, N.Y., $103,000.

Metro area condominium and cooperative prices – covering changes in 61 metro areas - showed the na-

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N.Va.: Cost Per Square Foot Up in 2018 From Year Before Home-buyers across Northern Virginia have been spending more, on a per-square-foot-basis, for properties this year than in 2017, according to new data.

Nearly every jurisdiction in the inner and outer suburbs posted yearover-year increases in square-footage costs for the first five months of the year, according to figures reported

by RealEstate Business Intelligence, based on data from Bright MLS. Among all Northern Virginia localities during the reporting period, the highest per-square-foot cost for existing homes was in Arlington at $475, an increase of 1.3 percent from the same period a year before.

The only other jurisdiction topping $400 per square foot across Northern Virginia was the city of Falls Church at $424, a figure up 2.7 percent from a year before.

Among other localities, the rule of thumb tended to be the closer-in a community, the higher the persquare-foot cost, with the city of Alexandria at $390 (up 2.9 percent), Fairfax County at $314 (up 1 percent) and the city of Fairfax, the lone locality to report a year-over-year drop, down 1 percent to $310.

Further out, average per-squarefoot costs were $279 in Rappahannock County (up 21 percent); $229 in Fauquier County (up 13.4 percent); $224 in Loudoun County (up 4.7 percent); $211 in Prince William County (up 4.5 percent); $207 in Manassas Park (up 8.4 percent); $194 percent in Manassas (up 3.2 percent); and Stafford County ($172, up 3.6 percent).

In the Mid-Atlantic region as a whole, the average per-square-foot cost of $238 for the first five months

of 2018 was up 3.9 percent from $229 during the same period in 2017.

Among all jurisdictions covered in the data, the District of Columbia had the highest cost, $528 per square foot, up 2.7 percent.

Homes Selling Faster Than in 2017: Looking to find a home-buyer quickly?

Falls Church and Loudoun and Fairfax counties have been the place to be so far this year.

In all three jurisdictions, more than half the homes listed for sale found a buyer in less than 10 days during the January-to-May period, according to figures reported by RealEstate Business Intelligence, based on data from Bright MLS. The median days on the market for the period stood at six days for Falls Church, eight for Loudoun and nine for Fairfax.

Among other Northern Virginia localities, the median number of days on the market was 10 in Arlington; 11 in Prince William County; 12 in the city of Fairfax; 13 in Alexandria and in Manassas Park; 19 in Winchester; 20 in Manassas; and 21 in Stafford.

Median is the point at which half of homes receive a ratified sales contract in less time, half for more. In general, the median number of days required to find a buyer across the region was lower the first five months of this year than in the same period in 2017.

When it comes to average days on the market between listing and sales contract, Loudoun and Prince William counties and the cities of Fairfax Church and Manassas shared top honors at 37 days, followed by Fairfax County (39) Arlington, Alexandria and the city of Fairfax (44); Manassas and Winchester (48); and Stafford (55).

Favorite Home Styles Vary Americans’ favorite home styles are craftsman (43 percent), ranch (41 percent) and colonial (36 percent), according to a survey by Trulia, although the favorites can vary depending of age group.

Millennials, aged 18-34 years old, were more likely to favor craftsmanstyle homes (52% vs. 36% of those aged 55+), while older adults were more likely favor ranch-style homes (52% vs. 28% of Millennials), according to the survey, conducted for Trulia

by Harris Poll.

A total of 2,000 Americans were surveyed.

While these styles may be favorites among Americans, they may be hard to find. To help people discover where they can find their dream architectural style, Trulia dove into its listing data to find out how common various architectural styles really are.

Turns out, a Craftsman home will be hard to come by despite its popular-

ity. Among all home listings on Trulia, the most common architectural styles nationally that are called out as selling points in listing descriptions are colonial, ranch, Cape Cod, Victorian and mid-century. Though state-by-state and even city-by-city, it varies: • Although brownstones are practically synonymous with New York City, colonial houses are actually more common in the city.

• Art Deco may be Miami’s bestknown architectural feature, but midcentury homes are by far the most common throughout the city.

• If you’re looking for a ranch-style home, Colorado Springs, Colo., has the highest proportion of them in the country.

“Each architectural style across the country adds character and charm to a neighborhood, making each one unique, said Lynnette Bruno, Trulia’s vice president of communications and research.

ARLINGTON’S REALTOR® What Others Say...

“My hard-to-sell property not only sold in 14 days but Carol’s help at a difficult and complex closing, due to the buyer’s agent’s inexperience, was invaluable.”

_ L. Gordon

#1 Agent

in Arlington Office Life Member, NVAR Million Dollar Club NVAR Top Producers Club Certified Residential Specialist

703-568-1100 2015 2016 2017

Operated by a Subsidiary of NRT, LLC.

703-524-2100

www.ArlingtonHouses.com carol@ArlingtonHouses.com

Not intended as a solicitation if your property is already listed by another broker. Real estate agents affiliated with Coldwell Banker are independent contractor agents and are not employees of the Company. ©2018 Coldwell Banker Residential Brokerage. All Rights Reserved. Coldwell Banker Residential Brokerage fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Operated by a subsidiary of NRT LLC. Coldwell Banker and the Coldwell Banker logo are registered service marks owned by Coldwell Banker Real Estate LLC.

SELLING YOUR HOME? CALL US. And join the many clients whose expectations MAGNIFICENT M A N O R S were surpassed by the Magnificent Manors Team!

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Exquisite 4 BR/3.5 BA townhome in sought after Cameron Station. You will be living in luxury with beautiful Brazilian cherry hardwood floors and full wet bar with wine fridge, beautiful granite counters in your living area. Call to find out how to rent this magnificent manor.

For Rent at $4,300/month.

5135 BRAWNER PL | ALEXANDRIA, VA 22304

UNDER CONTRACT WITH MULTIPLE OFFERS

Nestled on a tree-lined street in Ashton Heights just blocks to Virginia Square Metro, this charming 3 BR/2 BA Cape Cod is under contract in a week! Call us to find out our specialized systems to selling this home so quickly.

Listed at $839,000.

510 N NELSON ST | ARLINGTON, VA 22203

UNDER CONTRACT WITH MULTIPLE OFFERS

This stunning, spacious 4 BR/2.5 BA home in Aurora Hills is under contract in a week’s time. Our remodeling plan that we designed and executed provided our clients with an astounding return on investment. Call us if you would like to find out how to maximize your return with highly targeted, smart, but minimal upgrades. Listed at $849,900.

2815 FT SCOTT DR | ARLINGTON, VA 22202

Like us on Facebook & Follow Us on Social Media! #magnificentmanors MARYBETH G. FRASER , TEAM LEADER, MBA & REALTOR® 703.798.1803 | marybeth@magnificentmanors.com Magnificent Manors Team of KW Metro Center Certified Luxury Home Marketing Specialist® Accredited Staging Professional®, Licensed in VA & DC NVAR Residential Top Producer Award 2013-2017 Each office is independently owned and operated. If you are currently under a brokerage agreement with another firm do not consider this a solicitation.

JUNE 2018 | SUMMER REAL ESTATE GUIDE

9

New Home Showcases Elegance and Style One-of-a-Kind Staircase, Shiplap Among the Property’s Special Amenities

D

esigned to be a dream for those who entertain in style, our featured property offers new construction with hints of the classic design elements of the past.

Featuring large windows that permit an abundance of natural sunlight to flow in, the home offers great sight-lines inside and out, and a gloriously open floor plan where everything flows with precision detail.

No detail has been overlooked, from the sweeping architectural details to the small touches. The result is a home that pays homage to the past while striding securely into the future.

The property, located in the alwaysin-fashion Country Club Hills community, currently is on the market, listed at $2,949,999 by Chamberlin Real Estate of McEnearney Associates.

This stop on our perpetual quest for the best in local real estate begins as we amble up the welcoming portico to receive a gracious hello and start our exploration of the home.

To our immediate left is a versatile space designed as a home library but flexible for a host of uses. Built-in cabinetry and windows facing the front and side yards are featured here.

The creative dining room flanks the other side of the foyer, with more natural sunlight and access to the adjacent butler’s pantry.

Featuring top-quality appliances and a center island, the large kitchen is sure to be the central focalpoint of daily living. An adjacent breakfast area provides access to the terrace space.

The family room is a lovely space with coffered ceiling shiplap and gas fireplace. It’s a standout attraction of the tour.

Tucked away off the main traffic flow is a guest suite, featuring a large bedroom area, full bath and walk-in closet. It showcases the versatility of the layout.

To the second level we go – take the optional elevator or stairs, as is your choice – where our first stop is the sumptuous owner’s suite. Featuring a large master bedroom area with views over the rear yard, this retreat also proffers a glorious bath and large walk-in closet with dressing table, plus a café area for those lazy mornings (or evenings ) when a respite is the order

Sun Gazette Local News & So Much More!

10

SUMMER REAL ESTATE GUIDE | JUNE 2018

of the day.

Three additional en-suite bedrooms are found on the upper level, along with large laundry facilities.

Downstairs, there is a large recreation room with gas fireplace, plus a wine cellar and bar area, along with pantry space.

The home’s sixth bedroom is located down on the lower level, along with a second laundry center for added convenience.

Visually arresting, the home makes an architectural statement while also serving as a wonderful backdrop for daily living. It’s a marvelous addition to the local real-estate scene, one well worthy of consideration.

Articles are prepared by the Sun Gazette’s real estate advertising department on behalf of clients.

For information on the home, contact the listing agent. For information on having a house reviewed, contact the Sun Gazette’s real estate advertising department at (571)333-6272.

Facts for buyers Address: 3411 North Woodrow Street, Arlington (22207).

Listed at: $2,949,999 by Chamberlin Real Estate of McEnearney Associates (703) 646-0278.

Schools: Jamestown Elementary, Williamsburg Middle, Yorktown High School.

• REAL ESTATE • EVENTS • SHOPPING • COMMUNITY & MORE

Go to the local source to advertise your business!

571-333-6272

The Name Game: Some First Names Equal Pricier Homes “Stuart” and “Alison” are among the top names of homeowners with the most valuable homes in the country, worth a median of more than $330,000 – 66 percent more than the median home value in the U.S. last year, while the most common first name of a U.S. homeowner is “John,” according to an analysis by Zillow.

The firm analyzed the first names of homeowners on 70 million property records and found that “Peter,” “Alexandra” and “Geoffrey” are also among the top 10 names of homeowners with the most valuable homes in the country.

All names on the list own homes that are more than 1,550 square feet, with a median value that is more than the U.S. median.

In Washington, D.C., homeowners named “Jane” own the most valuable homes, worth almost $900,000 – about 134 percent more than the median home value in the area. Homeowners named “Anne” own the most valuable homes in California, worth about 30 percent more than the median home value in the state.

Zillow’s analysis of homeowner names reveals demographic trends across the country as U.S. homeowners grow increasingly diverse.

Historically, men were more likely than women to own homes, but that trend is starting to shift. According to the Zillow Group Consumer Housing Trends Report, 49 percent of hom-

eowners are female and 51 percent are male.

In 30 of the 46 states Zillow analyzed, homeowners with the most valuable homes have traditionally female names, with “Anne” the name that reoccurs the most.

About 64 percent of all Americans are homeowners. The home-ownership rate is the highest in the Midwest.

“John” is the most common U.S. homeowner name, followed by “Robert” and “James.” Other common U.S. homeowners’ names include “Mary,” “Richard” and “Thomas.”

In California, “Salvador” is a more popular homeowner name than it is nationally, but in the small state of Rhode Island, “Claire” is more popular. In the Pacific Northwest, the name “Heidi” is a more popular homeowner name than it is nationally, whereas “Willie” is much more likely to be the name of a homeowner in the Southeastern states of Alabama, Louisiana and Georgia.

“This analysis reveals a lot of interesting – and fun – differences between homeowner names and the relative popularity of less common or non-traditional homeowner names from region to region,” Zillow said in announcing results of the survey. “U.S. homeowners are an incredibly diverse bunch, with a variety of names reflective of many cultural and familial backgrounds.”

Homeowners in Pricier Areas Appear to Have Fewer Babies The rate of babies being born is dropping the most in counties where home values are appreciating the fastest, according to a new Zillow analysis, which concludes that an extra 10-percentage-point rise in home values is associated with an extra 1.5-percentage-point drop in birth rates for 25-to29-year-old women.

The trend is most pronounced in pricey California markets, as well as in Austin, Brooklyn and Seattle.

In Los Angeles County – the nation’s largest – the birth rate among women aged 25 to 29 fell 17 percent from 2010 to 2016, while home values rose 31 percent.

Zillow found that 2,588 fewer babies were born to women in this age group in Los Angeles County in 2016 than otherwise would be expected, the greatest drop in births among all counties analyzed.

In San Diego County, the birth rate fell 19 percent while home values rose 34 percent, which is associated with 1,148 fewer babies than would be expected.

The birth rate in Travis County (home to Austin) fell 22 percent, while

home values rose 33 percent – this is associated with 585 fewer babies than expected.

At the onset of the recession in 2008, the birth rate began falling, dropping from a high of 2.12 babies per woman in 2007 to 1.93 by 2010.

Based on historic norms, it’s common for birth rates to tick up as the economy improves, but the birth rate continues to fall even as the economy has recovered, declining to just 1.82 by the end of 2016.

Raising a child is an expensive proposition, and many couples may be questioning whether now is the right time to have kids or may be choosing to move to more affordable communities before starting a family, Zillow analysts said.

Many young adults aim for financial stability before having children, but with rising housing costs, financial stability may be increasingly out of reach, they said.

Home values across the U.S. are appreciating at their fastest pace in 12 years, and are projected to rise another 6.5 percent over ensuing 12 months.

$1,999,999

2500 N Nottingham St. • Arlington, VA 22207 NORTH ARLINGTON Newly Constructed 2018! Classic Four-Square “Plus” in North Arlington with no detail overlooked. Enjoy the neighborhood from your perch on the wrap around porch facing a traffic free cul-de-sac on a tree lined corner lot! 10 ft. ceilings, Emtek Hardware, Unrivaled Quality. Only 15 Min to DC!

Jeremy Browne Realtor

2300 Clarendon Boulevard • Arlington, Virginia 22203

703.593.4139

571 217 0939 m

Jeremy.browne@ttrsir.com

Lee Cronin • 703-328-6722 (Cell)

GRI, Top 5% Nationwide Realtor • NVAR Top Producer • Licensed in VA, DC & MD Lee.Sold@KW.com• www.LeeSold.com OPEN SUN, 1-4

ACTIVE

1716 ESQUIRE LANE, MCLEAN • $1,598,000

600 PARK ST SE, VIENNA • $1,025,000

Grand dame of mclean on cul-de-sac**! hdwd on main & upper level, library w/full wall built-ins, main level in-law suite, 2-story family room w/gas FP & designer kit. w/S.S. appls, granite ctrs & ctr island. Master w/sitting rm, 2 walk-ins, prvt deck & upgraded bath w/sep. vanities, whirlpool tub & oversized shower. finished walk-out lower. remarkable backyard w/custom paver terrace!!

Best location**! Beautiful home in heart of vienna with wonderful wraparound sundeck! Convenient to rt 66 & metro. Brazilian cherry floors, two fp’s, well-proportioned rooms, main-level library/bedroom & upgraded kit w/quartz counters, angular center island, 42” cabs & S.S. Appls. Master suite w/walk-in closet, upscale bath & adjoining artist’s studio w/15’ high ceiling & light-capturing windows.

JUST SOLD

OPEN SUN, 1-4

4336 HENDERSON RD. N. ARLINGTON • $945,000 Gorgeous former model! Original owner! Hot location-metro, shops, harris teeter & restaurants! 4-Lvls th w/2-car gar & balcony!! Hdwds on all lvls, plantation shutters, gas fp, gourmet kitchen w/granite, 42” cabs, ctr island & S.S. Appls! Master w/walk-in organizer closet & lavish bath, whirlpool tub & sep. Shower. Top flr w 4th br & fb open to rooftop terrace!

1238 PROVIDENCE TERR, MCLEAN •$1,225,000 Beautifully updated home! All large bedrooms w/walk-in closet! Hdwd on main & ul, fresh paint, 2 gas fp’s & chef’s kit w/newer S.S. Appls., Granite ctrs, adj. Brkfst area. Huge master w/2-walk-ins & upscale ba. Walk-up ll w/ game rm, rec rm & large den. Gorgeous backyard w/custom slate terrace! *Near metro*top rated langley hs pyramid!

6820 Elm St, McLean, VA 22101

Each Keller William Office is Independently Owned & Operated

(703) 636-7300 JUNE 2018 | SUMMER REAL ESTATE GUIDE

11

ded in 1968. ess since Long & Foster was first foun uch has changed in the real estate busin 703.362.7764 is the feeling of being home.

But one thing that remains the same Christine.Rich@LNF.com to find the ght about real estate, but we all want GREAT NEW PRICE. Growing up you probably never thou generations to come. right home to create memories Deceptive from the front, once inside the expansive living N for

CHRISTINE RICH N

E OP

SU

space, open kitchen/family room layout, and beautiful main level master suite with vaulted ceiling and 2 walk-in closets all grab your attention. Each of the 5 bedrooms is spacious, each of the 5.5 bathrooms nicely renovated.

2 car garage * Expansive backyard deck * Large 1/3 acre private setting * Hardwood floors newly refinished and new carpet. Additional au-pair suite on main level or downstairs. Finished rec room with built-ins.

LOGO LF RE CIRE Box Gray OPPORTUNITY TIME! OPEN SUNDAY 1-4.

5125 37th St N, Arlington, VA 22207 Asking Price $1,149,900

Platinum Level

SARA RUBIDA LOGO LF RE CIRE Box

703.568.7272 Sara@LongandFoster.com Call me – I can help you pull ahead this market. www.SaraRubida.com

Looking for a top agent? Hard work is not enough. You deserve an agent who is active in the market, has top-notch skills, and cares about you!

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Representing buyers, sellers and

$1,200,000

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Contact me today for a free home value Your Full-Service Somersville estimateGroup or homebuyer consultation!

Realty

Every improvement and addition has been Custom with only the finest materials. Fabulous location!!! Close to bike path and Lyon Village Shopping Center. Colonial with 3 finished levels. Kitchen and baths completely remodeled. 3/4/5 bedrooms (all UPPER), 3 and ½ baths, two fireplaces, gorgeous recreation room with wet bar and kitchenette. Work from home in architecturally designed STUDIO/HOME OFFICE, oversized 2 car garage.

Stay in shape with your own private pool. Newer professional landscaping and fencing.

LOGO LF RE CIRE Box White (rev on blue)

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1234 Washington Street Somersville Heights

e. buyers, sellers andjourneys hom their 000-000-0000 ple on helping peo s ofRepresenting Celebrating 50 yearinvestors www.namewebsite.com with experience and integrity. e.™ You Are! Ready When love of hom For the Long & Foster.I’m

“I SELL MORE BECAUSE I DO MORE”

Horz

LIBBY ROSS

Denny Kaydouh DNNYSELLS@GMAIL.COM

LO

118 N. Park Dr.

SOLD BY SUSAN over List Price!

2309Long N Glebe Foster.com andRoad $919,000.00

2501 NORTH NELSON STREET, ARLINGTON, VIRGINIA 22207

703.284.9337 www.libbyross.com Libby.Ross@LNF.com

703.244.7474

OPEN SUNDAY 7-1 FROM 1:00 TO 4:00

$895,000

Williamsburg style Colonial with 4 bedrooms, 4 full bathrooms, renovated kitchen with Cherry custom cabinets, family room with gas fireplace, Master bedroom and bath, Andersen windows, beautiful hardwood floors, enclosed side porch, fenced rear yard with detached work shop with electricity, and much more.

The Birches

GORGEOUS 4 BEDROOMS/3.5 BATHS Beautifully renovated top to bottom and located within walking distance of shopping, banking, dining and more, this town home is without a match. Unique features include a Master Suite level with new Master bath, new Laundry, an updated Coffee Bar and gorgeous Office with fireplace overlooking the garden and treed park.

SOLD

Contact me today to manage the sale of your property at top dollar.

CIRE Black Horz — BROUGHT TO YOU BYLOGO LONGLF&RE FOSTER | CHRISTI JIM McGARITY

.

SUSAN JOY

703.201.6219

Susan.Joy@LNF.com

703.522.0500 Office 703.283.7509 Cell

Delivering Excellence, Experience and Success.

www.jimmcgarity.com Jim.Mcgarity@LNF.com

PIMMIT HILLS 2002 NORDLIE PLACE FALLS CHURCH Charming 2-story home with maximum curb appeal.

Expanded living room, 2 BRs and hall BA on main level; master suite upstairs: BR, sitting area and large BA, lots of closet space. Family room in rear opens to spacious patio. Interior basement with washer/dryer and more than enough storage space. This home is in the center of it all..minutes to Tysons Corner Center and to City of Falls Church, downtown McLean. EZ access to I-495, Dulles Toll Rd, I-66 and Rte 7. Less than 10 minutes to Tysons and WFC Metros (Orange & Silver Lines). Large landscaped yard.

Serving Northern VA Home Buyers &

Sellers since 1986

nY LONG & FOSTER | CHRISTIE’S (must accompany LF Falls Church 22042

SOLD

MEGAN MCMORROW

703.403.5543

Megan@lnf.com

Addressing Real Estate™

New Price / New Look! $649,000

Tenant has vacated. Price reduced $20K. This spacious, light-filled 3 BR/3.5 Bath End Unit TH in Cherrywood community is also newly staged. Its close-in location borders Falls Church City on the east. Walk to parks, Farmer’s market, eateries and shopping, while living in a peaceful mews setting.

2817 Flagmaker Drive

A R LI NG TON

Information deemed reliable, but not guaranteed. If your propety is listed with another broker, this is not intended as a solicitation of that listing.

SUMMER 28, 2018 REAL ESTATE GUIDE | JUNE 2018 www.insidenova.com 161 2June

703.795.0099

Standard LF CO Sun Gazette

Gray ™ For the love of home.

PMS 282 N. Arlington

$849,000 Renovate or Build New?

Gray

This 1902 farmhouse sits on a very nice 13,600 sq. ft. lot.

The house has 4 bedrooms, 1.5 baths, 2 staircases to the upper level, a fireplace, large rooms, and high ceilings.

House needs updating/renovation and is being sold “as is”. OR... this oversized lot would be great for new construction. AND... your choice of Arlington or Fairfax schools.

UNDER CONTRACT

6817 N 31st Street, Arlington, VA 22213

x White (rev on blue) PMS 425

ARLINGTON/Ballston-Buckingham

PMS 425

TOM ANDERSON

Life Member, NVAR Top Producers Club Life Member, NVAR Million Dollar Club Certified Residential Specialist (CRS) Graduate Realtors Institute (GRI) 30 Years Real Estate Experience

Barcroft Arlington, VA

UNDER CONTRACT

MARIBETH CLISSA

760.310.9509 Maribeth@Lnf.com Maribethclissa.com

SOLD

NEW PRICE

JOHN MENTIS

703.284.9457 202.549.0081 ® www.JohnMentis.com Your Life is Changing — I Can Help!

703.284.9348 Office tom.anderson@longandfoster.com www.tomanderson.LNF.com

Buying or Selling a home in the DC Metro Area?

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$199,000

1 BED/1 BATH MLS #AR10257478*Ever popular Arlington Oaks! *2nd closest building to all that Ballston offers: metro, restaurants, new mall, retail, Harris Teeter, more!*Parking and Cap Bike Share right outside the building; super convenient to Metrobus; less than 1 mile to Ballston metro*Gas cooking*Check online for Arlington Oaks resident handbook*Green space, community club house, exercise room *More! *Offered “as is.”*If you are not already working with an agent, please contact me for a private showing.

Arlington Village Move-in ready! Charming 2-level, 1 bedroom/1bath townhouse in sought after park like Arlington Village! Lots of upgrades to include HVAC in 2015, Energy Star double pane windows and storm door in 2016 and updated bathroom in 2017. Kitchen has stainless steal appliances, granite counter tops & built-in granite table. Plus, hardwood floors on 2 levels and washer and dryer! Olympic size pool, tennis courts, bike storage, extra storage bin, water, trash and all outside maintenance included in the condo fee! Fabulous location in walking distance to the Columbia Pike corridor with shops, restaurants, coffee shops and movie theater. Commuter’s dream! Easy access to D.C., the Pentagon, Reagan National Airport and I-395.

Governors Grove Alexandria, VA Call or e-mail me when you‘re ready to move!

CAROLINA MAGNANELLI 703.400.7535

$305,000

OPEN SUNDAY 1-4 2700 13th Road, S #376 Arlington, VA 22204

carolina.magnanelli@lnf.com

Dick OGO LF Nathan RE CIRE Black Horz associate broker, crs, abr, sres

No one will work harder for you

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Come see this beautiful 926 sf. 1BR/1BA unit at Hyde Park with new wood floors, renovated Kitchen, renovated bath, and a huge 20’ balcony! Only 1 block to Ballston Quarter mall, and just 1/2 mile to Metro!

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SOLD BY SUSAN over List Price in one day!

5940 6th Street, Falls Church, VA 5 Bedrooms/3 Full Baths $740,000

Carefree living in this spacious Cape Cod on a level one-half acre lot where all the work has been done for you! Fully renovated top to bottom: roof, HWFs, baths, kitchen, electric service. Features a spacious screened porch overlooking the back yard and a large ML home office.

F CIRE logo) Contact me to handle your next property sale.

SUSAN JOY

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Delivering Excellence, Experience and Success.

Blue

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O Horz Color Blue Sun Gazette

PMS 282 GUIDE www.insidenova.com JUNE 2018 | SUMMER REAL ESTATE June 28, 20181 317

New Homes: More Are Coming Onto the Market decade, the largest drop of any industry. They also began laying people off a year before the recession began and did not start hiring again until much later than other industries,” said Simonson.

This has led to difficulty in bringing skilled laborers back to the industry.

“Construction companies are having to hire people with no experience and spend more time and money on training,” he said.

Materials have also contributed to the low rate of construction. The price of diesel fuel, which is used in earth moving vehicles and in transporting materials, has risen 42 percent.

The cost of lumber and plywood has increased 11 percent, copper and brass mill shapes have risen 10 percent and ready-mix concrete has risen 7 percent.

An increase in housing supply is crucial to the health and sustainability of the real estate market and the economy, according to speakers at a session organized by the REALTORUniversity Richard J. Rosenthal Center for Real Estate Studies during the 2018 REALTORS Legislative Meetings & Trade Expo, held in May. The session – “Outlook for Home Prices and Residential Construction” – focused on rapidly rising home prices, tight home inventories and whether or not the country is in the middle of a bubble.

All three of the panelists agreed that more new home construction is necessary to meet rising demand from increasing household formation and curtail the affordability crisis.

“Young adults of today are forming households at a much lower rate

than previous generations, and high housing costs contribute to that,” said Len Kiefer, deputy chief economist for Freddie Mac. According to Kiefer, one third to three quarters of U.S. markets have an elevated home price-to-income ratio and many major markets, such as Austin, Miami and Portland, are getting close to surpassing their 2008 ratio.

“Are we in a bubble? No, not currently,” said Kiefer. He outlined ways the current market is different from the one leading to the recession, such as no signs of over leveraging and the very low ratios of household income to debt.

The aggregate risk of mortgages in the U.S. is also comparatively low.

“Those risky loans that contribute to the last bubble have largely gone away in the current market,” Kiefer

said.

However, the panelists were quick to point out that just because we are not currently in a bubble does not mean we won’t enter one.

If supply and demand continues to become more and more out of balance, it could trigger a fast price growth, said NAR chief economist Lawrence Yun. “A best-case scenario is largely dependent on new home construction.

An increase in inventory will provide some much-needed release,” he said.

Ken Simonson, chief economist for Associated General Contractors of America, discussed how low employment in construction is also contributing to the lag in new home construction, despite high demand.

“Construction saw a 30 percent drop in employment in the previous

Bathrooms overtook kitchens as the most popular remodeling project, according to a new survey released recently by the National Association of Home Builders (NAHB).

NAHB released the survey results, which highlight the most common remodeling projects, to kick off National Home Remodeling Month in May. “Small-scale renovations are slowly becoming just as popular as large-

scale projects, as seen with bathroom remodeling becoming more common than kitchens,” said 2018 NAHB Remodelers Chair Joanne Theunissen, a remodeler from Mt. Pleasant, Mich.

“Homeowners are finding cost-effective and shorter timeframe upgrades can also add comfort and value to their homes. ” N ARLINGTON/WOODBURY HEIGHTS $319,000 In the survey, remodelers reported the most common projects in 2017:

• 81 percent bathroom remodel- the most common green building product installed by remodelers. ing.

Programmable thermostats and • 78 percent kitchen remodeling.

• 49 percent whole house remodel- high-efficiency HVAC systems also ranked highly among the most coming. mon green products used.

• 37 percent room additions.

• 30 percent window/door replace...invitingWhile youremodeling home! is most commonly associated with kitchens and baths, ments. can save home ownAdditionally, a separate by green upgrades NORTH ARLINGTON/BLUEMONT $749,000survey CITY/NEIGHBORHOOD $XXX,XXX NAHB showed that high-performing, ers on utilities, improve air quality and low-emissivity (Low-E) windows are increase the value of their homes.

Remodeling: Bathrooms Now Most Popular Projects

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CLOSE TO BALLSTON METRO! Picture perfect 4br/3ba cape in A+ location — seconds to Ballston Metro, shops & restaurants! Open spacious floor plan, 2 wood burning fps & hardwoods throughout! Huge storage/ laundry room, finished lower level rec room & large backyard!

1301 Courthouse Rd #816, Arlington, VA

872 Kensington Dr, Arlington, VA 22205

www.chrissyandlisa.com Lisa DuBois | 703.350.9595

www.chrissyandlisa.com Chrissy O’Donnell | 703.626.8374

FALLS CHURCH/LAKE BARCROFT

$774,000

CITY/NEIGHBORHOOD

Address St, City, ST, 22207 www.agent-or-listing-website.com Agent Name | 703.xxx.xxx

$XXX,XXX

FOR SALE!

FOR SALE!

$419,900

provided is too long. Max of 4 lines copy. Agents need to cut if what has been provided is too long. Max of 4 lines copy. Agents need to cut if what has been provided is too long.

CITY/NEIGHBORHOOD

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This beautiful home features 6 br’s 5.5 ba/ 1st floor office/6th br. Open floor plan w/extensive built ins & custom details. Walkout rec rm w/theater rm. 9’ ceilings & hardwoods. Eat in kit w/SS appliances, quartz counters & designer back splash. Family rm off kit w/ coffered ceilings, fireplace w/ custom mantle/built ins & doors to deck w/tree top views. Tray ceilings in MBR w/walk in closets.

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BANNER IF NECC 309 Fillmore Street N 3752 Keller Ave, Alexandria, VA 22302 HEADLINE SPACIOUS, UPDATED & GORGEOUS! HEADLINE www.2610NQuanticoSt.com Arlington VA 22201 www.3752KellerAve.com Max of 4 lines copy. Agents need to cut if what has been 3/4 br, 3ba. Open floor plan with main-level family room. Fully Max of 4 lines copy. Agents need to cut if what has been Chrissy O’Donnell cait.e.platt@gmail.com providedLisa is too DuBois long. Max of 4 lines copy. Agents need to cut if renovated kitchen with granite! En-suite master with walk-in provided is too long. Max of 4 lines copy. Agents need to cut if | 703.626.8374 what has been provided is too long.

Max of 4 lines copy. Agents Caitlin Platt | 202.577.5846 closet. 3 full baths — allchrissy@chrissyandlisa.com upgraded!Lower level rec room with 703.350.9595 | lisa@chrissyandlisa.com what has been provided is too long. Max of 4 lines copy. Agents

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need to cut if what has been provided is too long.

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need to cut if what has been provided is too long.

WOODBRIDGEAddress St, City, ST, 22207

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BANNER IF NECC BANNER IF NECC MOVE-IN READY! CUSTOM FRENCH COUNTRY HOME! MOVE RIGHT IN! BANNER IF NECC This stunning 6 bedroom, 5.5 bath is located on the sought after Juniper Loop in RavSpacious 4 BR/2 BA home on large lot with many updates! Fully renovated kitchen with SS Wonderfully renovated home! HEADLINE Kitchen with granite counters and stainless steel apHEADLINE HEADLINE enwood! Situated on a private, wooded beautifully landscaped 1.23 acre lot. Features a Max of 4appliances, granite counters & marble tile floor. Updated Huge screened in ifporch Max of 4baths. lines copy.

Agents need to cut what has been pliances. Renovated Max of 4 linesbathrooms. copy. Agents need to cutwindows. if what has Large, been bright family room off kitchen lines copy. Agents need to cut if what has been Newer state of the art kitchen, Brazillian hardwood fl oors, an expansive master en suite with providedwith bbqofpit & rock loweris too level features rec room, den/need to cut if provided long.

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495Max & 66.

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what has been provided is too long. Max of 4 lines copy. Agents need to cut if what has been provided is too long.

7302 Camp Alger Ave.Falls

www.chrissyandlisa.com

need to cut if what has been provided is too long.

Church, VA 22042

Address St, City, ST, 22207 Chrissy O’Donnell www.agent-or-listing-website.com

Address St, City, ST, 22207 www.agent-or-listing-website.com

chrissy@chrissyandlisa.com | 703.626.8374 Agent Name | 703.xxx.xxx

Agent Name | 703.xxx.xxx

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14

SUMMER REAL ESTATE GUIDE | JUNE 2018

need to cut if what has been provided is too long.

14311 Randall Dr. Woodbridge, VA 22191 www.juliaavent.com Address St, City, ST, 22207 www.agent-or-listing-website.com Julia Avent julia@juliaavent.com | 703.850.6606 Agent Name | 703.xxx.xxx

Chesterbrook

McLean

Patrick Chauvin 202.256.9595 patrick@compass.com

534 Utterback Store Road 6 Bed | 7 Full & 2 Half Bath $2,199,000

Stephanie White Homes 703.489.5045 stephanie.white@compass.com

2923 24th Rd N 6 Bed | 6 Full & 1 Half Bath Price Upon Request

John Eric 703.798.0097 johneric@compass.com

6020 Woodland Terrace 5 Bed | 5 Full & 2 Half Bath $2,750,000

Sherif Abdalla 703.624.5555 sherif@compass.com

6318 31 st St N 5 Bed | 4 Full & 1 Half Bath $1,695,000

Sherif Abdalla 703.624.5555 sherif@compass.com

2121 21st Road N 3 Bed | 3 Full & 2 Half Bath Price Upon Request

John Eric 703.798.0097 johneric@compass.com

Woodmont

Hillcrest

Williamsburg

Great Falls

8104 Spring Hill Farm Drive 5 Bed | 5 Full & 3 Half Bath $4,639,000

Trevor Moore 703.915.0869 trevor.moore@compass.com

Trevor Moore 703.915.0869 trevor.moore@compass.com

Compass is a licensed real estate brokerage that abides by Equal Housing Opportunity laws. Information is compiled from sources deemed reliable but is not guaranteed. All measurements and square footages are approximate. This is not intended to solicit property already listed. Compass is licensed as Compass Real Estate in DC and as Compass in Virginia and Maryland. Logan Circle: 1313 14th Street NW, Washington, DC 20005 | 202.386.6330 | Chevy Chase: 5471 Wisconsin Avenue, Suite 300, Chevy Chase, MD 20815 | 301.298.1001 Georgetown: 1232 31st Street NW, Washington, DC 20007 | 202.448.9002 Capitol Hill: 660 Pennsylvania Avenue SE, Suite 300, Washington, DC 20003 | 202.545.6900 McLean: 6849 Old Dominion Drive, Suite 360, McLean, VA 22101 | 703.310.6111

JUNE 2018 | SUMMER REAL ESTATE GUIDE

15

Year By Year: Charting Growth of N.Va. Market Looking back on 40 years of sales data from across the suburbs, the average price has grown from $58,739 in 1975, surpassing the $100,000 mark for the first time in 1981, the $200,000 mark in 1991, the $300,000 mark in 2002 and the $400,000 mark in 2004 before peaking at just above $538,000 in 2007.

It then dropped for two years, to $431,018 in 2009, before starting a rebound.

Over the long haul, average housing prices in the region have outstripped inflation – when taking it into account, average prices (in 2015 dollars) were $259,124 in 1975, $249,512 in 1985 and $328,748 in 1995, to pick three dates.

In the spirit of fun, here’s a trip down memory lane both at the state of the market and some of the local and national events that played a role in our lives: 1975: The average sales price is climbing close to the $60,000 mark, and more than 14,200 homes are sold in the local area. Interest rates, however, are on the rise, hovering at around 9 percent for a 30-year conventional loan. Nationally, Jerry Ford is in the White House, the Red Sox and Reds are in the World Series and NBC debuts “Saturday Night Live.”

1976: The nation’s bicentennial year is a good one for the local real estate market. Home sales increase 2.3 percent over a year before, and the average sales price is up 6.2 percent.

1977: Jimmy Carter takes the oath of office as president, Elvis “leaves the building” for the final time. The number of homes sold in Northern Virginia experiences 23-percent growth, and the average sales price is up 7 percent.

The total sales volume in Northern Virginia passes the $1 billion mark for the first time.

1978: The Washington Bullets have their best year ever. “The White Shadow” and “WKRP in Cincinnati” make their TV debuts. Despite a slightly frosty economic environment across Virginia and the nation, home sales locally are up 27 percent, and the aver-

age sales price is up 7.4 percent.

1979: The Iran hostage drama begins, and John Wayne breathes his last. Irish terrorists kill Lord Mountbatten. The federal government bails out Chrysler, and interest rates start heading upward in a hurry. Nelson Rockefeller dies, creatively. The number of homes sold increases just a bit, but the average sales price is up 11.4 percent.

1980: Ronald Reagan wins a landslide victory over Jimmy Carter, Mount St. Helens blows its top, and the U.S. skips the Summer Olympics. The spike in interest rates take a chunk out of the sales market (down 15.3 percent), but average sales prices are up nearly 12 percent.

1981: Assassinations and attempted assassinations make for an ugly year. “Dallas” and “Dukes of Hazzard” provide some relief on TV. Actor Jack Albertson dies. Home sales drop precipitously, down 22.4 percent, but average sales prices show double-digit increases. The average sales price rises to more than $100,000 for the first time.

1982: LeAnn Rimes makes her musical debut with a “waaaahhh” in the delivery room. The Equal Rights Amendment goes down to defeat.

“Gandhi” sweeps the Oscars and Toto is tops at the Grammys. After peaking at nearly 18.5 percent, interest rates are slowly declining, but total home sales are still down 18 percent.

Double-digit price increases are gone, too.

1983: “The Love Boat” is still bringing in the viewers, and Sally Ride makes history in space. The U.S. invades Grenada, surprising the British (who thought it was theirs), and Carolyn Jones of “The Addams Family” fame dies. Home sales are up a whopping 43.7 percent (biggest annual increase in our survey) and the average sales price increase slightly.

1984: Walter Mondale carries Massachusetts and D.C. in the presidential election, but Ronald Reagan wins everything else. “Amadeus” is boffo at the Academy Awards. And in the local

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SUMMER REAL ESTATE GUIDE | JUNE 2018

1/6/17 4:58 PM

real estate market, it is a quiet year, with sales up 1.2 percent and average prices up 2.5 percent.

1985: “Live Aid” brings music and humanitarianism together. Phil Collins can do no wrong in the music world, and Miss Utah is named Miss America.

Interest rates are still high, at more than 12 percent, but sales rise a solid 23.9 percent. Average sales prices are up modestly, too.

1986: William Rehnquist is nominated chief justice, and the nation celebrates the first Dr. Martin Luther King Jr. holiday. Actress Donna Reed ascends the staircase to heaven. Home sales increase more than 20 percent, and the average sales price is up a respectable 7.8 percent.

1987: The Iran-Contra scandal dominates the headlines, followed by a stock market crash. U2’s music is the rage, Cher wins an Oscar and Sonny becomes mayor of Palm Springs.

Mortgage interest rates drop to under 10 percent for the first time since 1979. But home sales plummet more than 11 percent, even as average sales prices are up 16.6 percent.

1988: Michael Dukakis tries but fails to win the presidency, but the effort provides a career boost to comedian Jon Lovitz. The federal government gives amnesty to 1.4 million illegal aliens. Roy Orbison and his shades go to the hippest corner of rock-and-roll heaven. Interest rates spike up briefly, but both home sales and average prices increase. The total sales volume surpasses $4 billion locally.

1989: The Exxon Valdez causes a mess in Alaska, and an earthquake strikes San Francisco. U.S. troops invade Panama and arrest Manuel Noriega.

Ronald Reagan returns to California after eight years in the White House.

Home sales drop 20 percent (totaling less than 20,000 for the first time since 1984), but average sales prices rise to nearly $175,000.

1990: Saddam Hussein invades Kuwait and provokes President Bush into sending troops to Saudi Arabia.

Joe Pesci wins an Oscar for “Goodfellas.” The Cincinnati Reds win the World Series. And while home sales are up 17.7 percent, the average sales price dropped for the first time in recent memory, down 0.2 percent.

1991: Coalition troops liberate Kuwait, and President Bush’s approval rating tops 90 percent. The Senate is busy debating the appointment of Clarence Thomas, while the House of Representatives is trying to explain why members bounced more than 8,000 checks at its bank. Home sales plummet more than 32 percent (worst drop in the survey), but sales prices rise 17.3 percent to more than $200,000.

1992: Bill Clinton wins the White House. Eric Clapton’s “Unplugged” is a massive hit. Notre Dame tops Florida in the Sugar Bowl, and Barry Bonds

is the National League’s MVP. Interest rates continue a slow decline. Home sales are up 6.7 percent, but average sales prices drop 1.1 percent.

1993: A bomb explodes under the World Trade Center. Janet Reno becomes the first female attorney general. “Don’t ask, don’t tell” becomes military policy. The world loses a classy lady with the death of Audrey Hepburn. Home sales drop 3.2 percent, but average sales prices rise 3.3 percent.

1994: NAFTA comes into being, baseball players go on strike, Aldrich Ames is arrested for spying, and Republicans take control of Congress.

“Cats” is the Broadway musical that just won’t die. Dull year in real estate - home sales down slightly, average sales prices up a bit.

1995: A total of 168 people die in the Oklahoma City terrorist bombing.

Congress repeals the 55-mph speed limit. The Dow Jones Industrial Average tops the 5,000 mark. Mortgage money is available for about 9 percent. Home sales drop 12.5 percent, while average sales prices are up a bit.

Total sales volume drops to $2.9 billion, lowest since 1985.

1996: Unabomber Ted Kaczynski is arrested, Cuba Gooding Jr. wins an Oscar and Atlanta hosts the Olympic Games. President Clinton wins 31 states and D.C. on the way to an easy re-election. Home sales are up 10.9 percent, and the average sales price are up 1.4 percent.

1997: Madeleine Albright is sworn in as the nation’s first female secretary of state. The Dow Jones average drops more than 550 points on Oct. 27, but rebounds the next day. Fashion mogul Gianni Versace is murdered. Home sales rise 9.8 percent, and average sales prices are up 3.2 percent to more than $220,000.

1998: “Titanic” sweeps the Oscars, and Americans learn of new uses for cigars as the Clinton-Lewinsky scandal takes some unpleasant turns. Jerry Seinfeld leaves TV, Mark McGwire sets a new home-run record, and actor Jack (“Hawaii Five-O”) Lord dies. The real estate market swells, with average sales up 32.6 percent, average sales prices up 3.7 percent, and total volume surpassing $5 billion.

1999: Cable television continued to play a greater and greater role in our daily lives. Home sales were up slightly, with average home sales prices rising to nearly $240,000. A home mortgage could be found with an average interest rate of 7.8 percent.

2000: The presidential election essentially ends in a tie, another Summer Olympic Games comes and goes, and the Washington Redskins continue to find success elusive. Home sales rise 14.7 percent, the average sales price tops the quarter-million-dollar mark Continued on Page 19

FOCUS ON SENIOR HOUSING

Seniors: Options are the Key to ‘Aging in Place’ With the number of older adults in the U.S. expected to grow tremendously over the next four decades – from 40 million (or 13 percent of the population) in 2010 to 89 million (or 20 percent of the estimated population) by 2050 – getting ahead of the issue of housing options for the senior population is vital.

That’s the view of AARP, whose policy guidebook lays out a host of details to ensure that seniors have the chance to live the lives they want, where they want, as much as possible.

Among the principles guiding the policies, efforts should be undertaken to: • Improve home design.

• Promote affordable housing options.

• Strengthen federal housing programs.

• Increase capacity for public-private partnerships.

• Promote financial security of housing assets.

• Foster home- and communitybased service delivery.

“Housing should meet the needs of all individuals, regardless of age and ability level,” AARP notes.

According to the AARP Public Policy Institute, individuals should have a wide range of housing options and types that support their changing needs as they age. That includes including the ability to stay in their homes or communities to move to an assisted-living facility.

“The availability of accessible, affordable, and integrated multi-generational housing options is critical to promoting and sustaining people’s independence and successful aging in communities,” AARP notes.

Among the efforts undertaken to ensure that is Universal design, an approach to ensure that people of all ages and ability levels can use buildings, products and the built environment without adaptation.

Universal-design features might include wide doorways, ample maneuvering space in kitchens and bathrooms and fixtures that are easy to reach and operate.

“These and other relatively simple features enable people to remain in their homes throughout their lifespan, even as their needs change over time,” AARP said.

For others, supportive housing may be the preferred option.

“Supportive housing” relates to a wide array of residential settings that provide options that increase an individual’s ability to age in place, but do not rise to institutional settings such as nursing homes and long-term-care facilities.

Supportive-housing settings could offer services such as group meals,

transportation, help with housekeeping and personal care.

“Definitions of supportive housing are continually shifting in response to the rapid pace of change within the supportive housing industry,” AARP notes, with no federal guidelines yet in place to standardize terms and reduce inconsistencies.

Among options: • Congregate housing is typically an apartment building for people who are living independently but want common services, such as one meal a day or light housekeeping.

• Continuing-care retirement communities (CCRCs) provide shelter, social activities, health care and supportive services under a variety of contractual arrangements that often include up-front fees. Typically they include guarantees of increasing levels of services, as needed.

• Assisted-living residences are residential group settings that provide personal care to residents who need assistance with daily activities, according to AARP. Such activities include bathing, dressing, taking medication and preparing meals. Amenities include central dining facilities and activity rooms. “Residents age in place in a home-like environment that maximizes dignity, privacy, independence and autonomy,” AARP notes.

A 2014 AARP survey of American seniors found that, without question, the vast majority of older adults want to remain in their homes and communities, if possible, as they age. Among the survey’s other key findings: • Access to nearby transportation, groceries and green spaces are important community features to people reaching and in their senioryears.

• The top services people 50-plus want implemented to improve their communities are (in order): an increased police presence; improved schools; pedestrian-friendlier streets; better transportation for older adults

PUBLISHER’S NOTICE

We are pledged to the letter and spirit of Virginia’s policy for achieving equal housing opportunity throughout the Commonwealth. We encourage and support advertising and marketing programs in which there are no barriers to obtaining housing because of race, color, religion, national origin, sex, elderliness, familial status or handicap.

All real estate advertised herein is subject to Virginia’s fair housing law which makes it illegal to advertise “any preference, limitation, or discrimination because of race, color, religion, national origin, sex, elderliness, familial status or handicap or intention to make any such preference, limitation, or discrimination.”

and people with disabilities; and new or improved parks.

Full results of the survey – “What is

Livable? Community Preferences of Older Adults” – can be found at www. aarp.com.

Live Local.

You shop local, so why not live local, too?

Unlike many communities that are part of a nationwide chain, Chesterbrook is a local, not-for-profit community sponsored by two area Presbyterian churches and a Jewish temple. Decisions are made with our residents in mind. There is only one Chesterbrook Residences.

Call 703-531-0781 today to schedule your tour.

EHO

This newspaper will not knowingly accept advertising for real estate that violates the fair housing law.

Our readers are hereby informed that all dwellings advertised in this newspaper are available on an equal opportunity basis. For more information or to file a housing complaint call the Virginia Fair Housing Office at (804) 367-9753. Email: fairhousing@dpor. virginia.gov. Web site: www.fairhousing.vipnet.org

Assisted Living Community

2030 Westmoreland Street | Falls Church 703-531-0781 | chesterbrookres.org Coordinated Services Management, Inc.—Professional Management of Retirement Communities since 1981.

JUNE 2018 | SUMMER REAL ESTATE GUIDE

17

Economics: Next Recession Could Hit in 2020 The U.S. will likely enter the next recession in 2020, according to the 2018 Q2 ZillowHome Price Expectations Survey, released in May. The quarterly survey, sponsored by Zillow and conducted by Pulsenomics LLC, asked more than 100 real-estate experts and economists about their predictions for the housing market, including when the next recession would begin and what could trigger it.

Overall, nearly half of all the experts surveyed expect the next recession to begin sometime in 2020, with Q1 being the most commonly selected quarter. More than half of the survey respondents pointed to monetary policy as the likeliest cause.

The current economic expansion is the second longest in American history, and will be the longest ever record-

ed if the panelists’ predictions hold true. The housing market collapse led to the Great Recession, but few experts – just nine of the respondents – think the housing market will be at the center of the next downturn.

The Federal Reserve’s decisions about U.S. monetary policy will be the main factor in the next recession, according to the surveyed experts.

By most measures, the economy is doing well; GDP is growing steadily, and unemployment is near historic lows.

This has prompted the Federal Reserve to raise short-term interest rates four times since the start of 2017, with two more rate hikes expected this year. There are roughly even odds for a third hike before the end of 2018, but raising rates too quickly could push the economy toward slower growth,

leading toward a recession.

“As we close in on the longest economic expansion this country has ever seen, meaningfully higher interest rates should eventually slow the frenetic pace of home value appreciation that we have seen over the past few years, a welcome respite for would-be buyers,” said Zillow senior economist Aaron Terrazas.

“Housing affordability is a critical issue in nearly every market across the country, and while much remains unknown about the precise path of the U.S. economy in the years ahead, another housing market crisis is unlikely to be a central protagonist in the next nationwide downturn,” he said.

Less than a year ago, panelists in this survey named geopolitical crisis as the most prominent likely cause of the next recession. Those concerns

have fallen below policy-related fears like trade policy, a correction in the stock market or an unexpectedly high inflation rate.

In the meantime, experts think the housing market will continue to experience strong appreciation. They predict U.S. home values will rise 5.5 percent in 2018 to a median of $220,800.

At this time last year, predictions were for home values to rise 3.7 percent in 2018.

“Constrained home supply, persistent demand, very low unemployment, and steady economic growth have given a jolt to the near-term outlook for U.S. home prices,” said Pulsenomics founder, Terry Loebs. “These conditions are overshadowing concerns that mortgage rate increases expected this year might quash the appetite of prospective home buyers.”

Strong wage growth more than offset an increase in mortgage interest rates to boost nationwide housing affordability in the first quarter of 2018, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI) released today.

In all, 61.6 percent of new and existing homes sold between the beginning of January and end of March were

affordable to families earning the U.S. median income of $71,900. This is up from the 59.6 percent of homes sold that were affordable to median-income earners in the fourth quarter.

“Continued job growth, rising wages and strong consumer confidence are fueling housing demand. In turn, this should lead to more buyers entering the housing market in the coming months,” said NAHB chairman Randy

Noel, a custom-home builder from LaPlace, La. “However, builders continue to face headwinds that could impact affordability, including chronic labor and lot shortages, rising prices for building materials and excessive regulations.”

“At the national level, median family income rose an impressive 5.7 percent to $71,900 in 2018 from $68,000 last year, and this wage growth helped

to boost housing affordability,” said NAHB chief economist Robert Dietz.

“A growing economy, along with tight inventories and increasing household formations, will lift housing production in the year ahead. But we also expect mortgage rates to continue to rise, and this will place downward pressure on affordability.”

Affordability: Wage Growth Helps Boost Purchasers

Continued on Page 22

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Year By Year: Charting Growth of N.Va. Market

year see the real estate market at- brinksmanship than bipartisanship. ed, unemployment receded a bit and tempting to shake off the doldrums, The stock market teetered and tot- more people were questioning why for the first time, and sales volume with inventory not so high and prices tered, and threats of a double-dip the rich got richer while everyone else seeming to hold steady. Hopes in the recession have loomed. The local real didn’t during the economic rebound. grows to $6.5 billion.

President Obama’s approval ratings 2001: More than 3,000 people die real estate industry that the market estate market continues to show both declined, in part to a botched rollout signs of progress (higher average sales would sprout to life in spring prove in terrorist bombings on Sept. 11, and of his health-care package, but Repubprices) and areas of concern (anemic the nation mobilizes for a new kind unfounded, as the market continues licans didn’t benefit much. A partial of war. While the economy suffers, to meander generally downward. The sales figures). But the full story won’t the attacks don’t dampen Northern inner suburbs hold up the best, but be known until January rolls around shutdown of the federal government served to reinforce the view of many Virginia’s hot real estate market, with by mid-year, even they are flat or de- and the final figures are in.

2012: Presidential politics domi- that the nation’s leaders seemed to eitotal sales rising 6.4 percent and the clining. At the end of it all, home sales average sales price up 13 percent to are down 13.1 percent from the year nates the year, and voters in November ther not know, or not care, what they $285,000. Total sales volume tops $7.9 before, but – for the 15th year in a return Barack Obama with a decisive were doing.

The travails of the Washington Redrow – average home sales posted an but not overwhelming victory. Rebillion. publicans lose seats in Congress. Eco- skins took center stage for much of 2002: The Bush administration con- increase.

2008: Economic calamity strikes the nomic conditions remain soft, while the fall, with the team posting a lousy tinues its planning to disrupt the “Axis of Evil,” and focuses on Iraq. The stock nation late in the year, brought on in questions remain about the amount record and coach Mike Shanahan sent market begins to recover from its dol- large part by what had been the over- of U.S. debt. The Redskins rebound in packing with a going-away gift of mildrums, but unemployment remains a heated real estate market. Republican the second half of the year to reach lions of dollars.

Virginians reversed course, electing concern. While home sales are up only John McCain and Democrat Barack the playoffs, while the Nationals also Democrat Terry McAuliffe as governor slightly, the average sales price rises Obama battle it out for the presiden- have a good season.

Whitney Houston, Neil Armstrong, – but Republicans kept their tight grip over $300,000 for the first time, and cy, and while the military surge in Iraq produces some results, there are plen- Dick Clark and Andy Griffith were on control of the House of Delegates. total sales volume is $8.9 billion.

Nelson Mandela, Margaret Thatch2003: The war in Iraq seems to be ty of other challenges facing U.S. for- among those who died during the er, Tom Clancy, James Gandolfini and year, while Justin Bieber and Kim Kareign policy during the year.

The newsgoing well, but cleaning up after the Eydie Gorme were among those who dashian dominated gossip sites.

“Honpaper industry continues to struggle. military victory proves to be a thorny left us. ey Boo-Boo” became famous through and deadly task. Could it be: Red Sox Sir Edmund Hillary, Charlton Heston, The local real estate market continvs. Cubs in the World Series? (Alas, no.) Jim McKay and Suzanne Pleshette die. cable TV. ued its rebound, with average prices in The Northern Virginia real estate Home sales show no sign of slipping, Home sales across Northern Virginia with average prices also heading up are down about 4 percent, to the low- market showed a rebound both in to- the inner suburbs of Northern Virginconsiderably throughout the metro- est point since 1996, and average sales tal sales (up 11.6 percent from a year ia setting a record at $540,043 and the politan area. Sales volume tops $10 prices plunges more than 14 percent, before) and average sales price (up 4.4 number of sales surpassing the 20,000 perhaps the largest drop ever in the percent and again over the half-mil- mark for the first time since 2006. billion for the first time. lion-dollar mark).

2004: The insurgency in Iraq is all local area.

Continued on Page 22 2013: The stock market rebound2009: The economy remains the over the headlines, and becomes one of the focal points of the presidential big story; it continues to wobble but campaign. While the national econo- doesn’t collapse. Meanwhile, the new my continues to struggle toward re- Obama administration must decide Melinda L. Schnur Melinda L. Schnur covery, the local economy continues what to do in Afghanistan, the latest Realtor/Founder, Mosaic Residential Realtor/Founder, Mosaic Residential Keller Williams to roar along. Joe Gibbs gets off to a military flashpoint. Terrorism rears Direct: 571.437.8039Keller Williams shaky start in his return to the Red- its head at Christmastime, about the melinda@mymosaicagent.com Direct: 571.437.8039 MyMosaicAgent.com skins, and baseball is finally set to re- same time the local area is buried unmelinda@mymosaicagent.com Stunning custom built French Provincial turn to D.C. RIP Rodney Dangerfield, der a foot and a half of snow. Michael MyMosaicAgent.com home. Construction completed in late 2016.

Ronald Reagan, Julia Child and Isabel Jackson, Ed McMahon and Walter Just minutes from DC on a tranquil hilltop “Weezie” Sanford. The average home Cronkite die, and Redskins fans have 4 cul-de-sac. This stately residence features over Stunning cus , 21 Y value continues to rise (up 21.8 per- almost nothing to cheer about except JUL 6,035 square feet with 5 bedrooms, 5.5 baths AY D home. Constr cent), and sales are modestly up from the arrival of yet another new coach. and elevator. The main level offers endless SUN EN OP spaces to entertain and true chef's kitchen.

Just minutes Home sales rebound, increasing 9.3 a year before.

Spacious owner's suite features private deck 2005: All good things come to an percent, but average sales prices are cul-de-sac. Th and spa-like master bath. The lower level end: Actor Eddie Albert joins Eva Ga- at their lowest point since 2003. boasts custom indoor/outdoor walnut bar, square 6,035 2010: Republicans grab back conbor in a “Green Acres” heaven reunion. guest suite and entertainment size patio. and elevator. $2,499,000 Chicken King Frank Perdue and civil trol of the U.S. House of Representaspaces to ent rights icon Rosa Parks also die. The war tives, setting up a showdown with Office: 703.533.1500 in Iraq continues as the Bush adminis- President Obama over the nation’s Spacious own 105 W Broad St., Suite 200 Falls Church, VA 22046 tration enters its second term. On the priorities. Meanwhile, the economic and spa-like continues to wander along real estate scene, the bull market of situation Melinda L. Schnur Melinda L. Schnur boasts custom in the weeds, and while there is some the past six years is coming toRealtor/Founder, a close, Mosaic Realtor/Founder, Mosaic Residential Residential Keller Williams Keller Williams guest suite a although parts of the of local market- progress in extricating U.S. forces from Direct: 571.437.8039 Direct: 571.437.8039 place still showed spark. Salesmelinda@mymosaicagent.com volume Iraq, Afghanistan continues to be a $2,499,000 melinda@mymosaicagent.com MyMosaicAgent.com MyMosaicAgent.com tops $15 billion for the first time, but problem that seems to defy a soluestate market Stunning custom built French Provincial that will be the high-water mark for tion. The local realStunning custom can’t built French Provincial Office home. Construction completed in late 2016. home. Construction in late 2016. seem to find its footing, although completed it is the local market.

105 WB Just minutes from DC on a tranquil hilltop on a tranquil hilltop tax minutes creditsfrom thatDC help 2006: The war in Iraq drags on, the buoyed by federalJust cul-de-sac. This stately residence features over Falls Ch cul-de-sac. This stately residence features over Gary ColeRedskins continue to disappoint and a bit. Elizabeth Edwards, 6,035 square feet with 5 bedrooms, 5.5 baths 6,035 square feet with 5 bedrooms, 5.5 baths andelevator.

TeddyThe Penderthe local real estate market shows the man, Lena Horne and elevator. The main level offers endless main level offers endless Stunning custom built French Provincial home.and Construction completed in late spaces to entertain trueresichef's kitchen. to who entertain those leftand us.true chef's kitchen. effects of slowing sales and moder- grass were amongspaces 2016. Just minutes from DC on a tranquil hilltop cul-de-sac.

Thisand stately Spacious owner's suite Spacious owner's suite features private dence deck features over 6,035 square feet with 5 bedrooms, 5.5 baths andfeatures elevator.private deck area, home ating prices. Long-term, the market In the Northern Virginia and and spa-like masterkitchen. bath. The and spa-like master bath. The lower The levelmain level offers endless spaces to entertain true chef’s Spa-lower level 6.2 custom percentindoor/outdoor from has proven to be a success, but for sales were downboasts boasts custom indoor/outdoor walnut bar, walnut bar, cious owner’s suite features private deck and spa-like master bath. The lower theyand were up those who bought at the height of 2009 figures, although guest suite and entertainment size patio. guest suite entertainment size patio. level boasts custom indoor/outdoor walnut bar, guest suite and entertainment $2,499,000 $2,499,000 the boom, there will be challenges compared to 2008. And the average size patio. $2,499,000 if they need to sell their properties sales price saw a rebound, up 8.9 perOffice: 703.533.1500 Office: 703.533.1500 in the short term. Total sales volume cent to $469,018.

105 W Broad St., Suite 200 105 W Broad St., Suite 200 Office: 703.533.1500 105 W Broad St. • Suite 200Falls Falls Church, VA 22046 Church, VA 22046 Church, VA 22046 2011: The economyFalls continues to drops to $11.1 billion, the first decline stumble along, and the folks in Washreported since 1999.

2007: The first few months of the ington seemed more interested in Continued from Page 16

JUNE 2018 | SUMMER REAL ESTATE GUIDE

19

4 Decades of Home Sales Across Northern Virginia YEAR

AVERAGE SALES PRICE For year

1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

$58,739 $62,373 $66,722 $71,639 $79,389 $90,744 $100,050 $103,631 $105,388 $108,049 $113,120 $121,922 $142,163 $162,850 $174,975 $174,616 $204,886 $202,534 $209,381 $210,557 $211,098 $214,102 $220,932 $229,151 $238,496 $252,374 $285,159 $319,293 $364,684 $441,253 $537,116 $537,741 $538,463 $461,039 $431,018 $469,018 $483,160 $504,338 $540,034 $551,220 $558,988 $556,368 $579,694

TOTAL SALES

Change

For year

Change

N/A +6.2% +7.0% +7.4% +11.4% +11.7% +10.3% +3.6% +1.7% +2.5% +4.7% +7.8% +16.6% +14.6% +7.4% -0.2% +17.3% -1.1% +3.3% +0.6% +0.3% +1.4% +3.2% +3.7% +4.1% +5.8% +13.0% +12.0% +14.2% +21.8% +21.7% +0.1% +0.1% -14.4% -6.5% +8.9% +3.0% +4.4% +7.1% +2.1% +1.4% -0.5% +4.1%

14,260 14,593 17,953 22,802 23,043 19,527 15,155 12,435 17,877 18,093 22,422 27,052 24,128 24,879 19,780 23,278 15,761 16,818 16,287 15,747 13,783 15,289 16,795 22,264 22,715 26,062 27,741 27,936 30,580 32,735 29,235 20,753 18,042 17,400 19,035 17,858 16,704 18,623 20,355 18,696 20,309 21,097 22,555

N/A +2.3% +23.0% +27.0% +1.0% -15.3% -22.4% -18.0% +43.7% +1.2% +23.9% +20.6% -11.8% +3.1% -20.5% +17.7% -32.3% +6.7% -3.2% -3.3% -12.2% +10.9% +9.8% +32.6% +2.0% +14.7% +6.4% +0.8% +9.4% +6.6% -10.7% -29.0% -13.1% -3.5% +9.3% -6.2% -6.5% +11.6% +9.3% -8.2% +8.6% +3.7% +6.9%

VOLUME (Billions)

$0.84 $0.91 $1.1 $1.6 $1.8 $1.7 $1.5 $1.2 $1.8 $1.9 $2.4 $3.3 $3.4 $4.0 $3.4 $4.0 $3.2 $3.4 $3.4 $3.3 $2.9 $3.2 $3.7 $5.1 $5.8 $6.5 $7.9 $8.9 $11.1 $14.4 $15.7 $11.1 $9.7 $8.0 $8.2 $8.4 $8.1 $9.4 $11.0 $10.3 $11.4 $11.7 $13.1

HISTORICAL/CULTURAL NOTES OF INTEREST

‘Saturday Night Live’ debuts Democrat Carter wins election R.I.P. Elvis Presley John Paul II becomes pope Incident at Three Mile Island GOP’s Reagan trounces Carter Egypt’s Sadat is assassinated It’s a boy for Charles, Diana Riggins is Super Bowl MVP ‘Cosby’ is nation’s top TV show Michael Jordan’s rookie year Shuttle ‘Challenger’ explodes Iran-Contra scandal tops the news Bush manhandles Dukakis Earthquake strikes Bay Area Americans With Disabilities Act First Gulf War starts ... and ends L.A. riots after Rodney King verdict Bill Clinton is inaugurated GOP takes control of Congress O.J. Simpson found not guilty Richard Nixon dies after stroke Tiger Woods wins the Masters Monica Lewinsky in the news Clinton acquitted by Senate Florida determines presidency Terror attacks strike on 9/11 New war in Iraq looms Joe Gibbs returns to Redskins Kerry falls to Bush in election Katrina swamps Gulf Coast Democrats win back Congress Oil prices through the roof Economy plunges; Obama wins Unemployment hits double digits GOP makes a comeback Economic malaise lingers ‘Derecho’ storm slams region Democrats win Va. statewide races U.S. Reps. Wolf, Moran retire Syrian civil war heats up Election stunner: Trump wins North Korea poses nuclear threat

Totals are based on sales figures for Fairfax, Arlington, Alexandria and Falls Church. Sales totals, average sales prices and volume come from data of RealEstate Business Intelligence, Bright MLS and the Northern Virginia Association of Realtors, as analyzed by the Sun Gazette, and may differ from other published figures. To be consistent, figures used are the preliminary ones reported each year, not the final totals reported later. Historical notes are compiled by the Sun Gazette staff.

20

SUMMER REAL ESTATE GUIDE | JUNE 2018

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McLean Office | 703.760.8880 ®

McLean Office | 703.760.8880

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McLean, VA 22101

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McLean Office | 703.760.8880

McLean Office | 703.760.8880

1313 Dolley Madison Blvd McLean, VA 22101

1313 Dolley Madison Blvd McLean, VA 22101

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Year By Year: Charting Growth of N.Va. Market Continued from Page 19 2014: The search for a missing Malaysian airliner captivated cable-TV viewers during the year, and ongoing tensions between Russia and Ukraine led to a Malaysian aircraft being shot out of the sky.

Racial tensions ranged from a police shooting in Ferguson, Mo., to the remarks that cost an NBA owner his franchise. The economy seemed to be in two-steps-forward-one-back mode, while the potential that the Ebola virus might impact the U.S. was on the minds of many. Republicans cleaned up in the midterm elections, and prospective candidates for the 2016 presidential election started their preparations.

Among those who left our midst during the year: Robin Williams, Joan Rivers, Marion Barry Jr., Shirley Temple Black and Mickey Rooney.

It was a relatively soft year for local real estate, with the Northern Virginia market posting year-over-year declines every month but December, when it rebounded with a doubledigit increase.

With 18,696 sales, the market was down 8.2 percent from a year before, but the average price rose to a record $551,220.

2015: The race to succeed President Obama was in full swing, and the economy continued its gradual, if not terribly exuberant, rebound from the depths of the recession. The U.S. Supreme Court weighed in on gay marriage, legalizing it across the land, while the public’s attention often found itself focused on terrorism at home and abroad.

Pope Francis came to the United States, where political battles raged on issues ranging from gun control to a nuclear deal with Iran. At the local level, the McAuliffe administration’s proposed to allow single-occupant vehicles to use Interstate 66 at rush hour, if they paid a toll, drew criticism from some quarters and support from others.

Bruce Jenner became Caitlyn Jenner – perhaps the nation’s first Republican-leaning celebrity TransgenderAmerican, while Adele came roaring back on the music scene after a break.

And the Redskins, after an iffy start and (what some would call mediamanufactured) complaints about the team’s name, found success with a new quarterback before falling in the first round of the playoffs.

We said goodbye to a host of notables in 2015, ranging from Julian Bond and E.L. Doctorow to Ernie Banks, Moses Malone, Yogi Berra and B.B. King; Jackie Collins, Leonard Nimoy and Natalie Cole; classic-TV icons Donna Douglas and Al Molinaro; and chef Paul Prudhomme.

The real estate market saw a boost in both sales (up 8.6 percent to 20,309) and average price (up 1.4 percent to $558,988), while the total sales volum of $11.4 billion was the highest since it had peaked in 2005 at $15.7 billion.

2016: The presidential election’s many twists and turns – not to mention its surprise ending and the lingering animosity over the race – dominated the news in 2016. The political establishment laughed at the possibility that Donald Trump would end up president, but the voters said otherwise, a decision that also muddied

the legacy of President Obama as he wrapped up two terms.

Yet there were other news stories throughout the year.

The death of Antonin Scalia set off a battle in the U.S. Senate over whether to even consider President Obama’s nominee for a successor. The Zika virus had a significant impact in other parts of the world and began to make inroads in the U.S. The relationship between the police and the public further came under scrutiny, while terrorist attacks in both the U.S. and abroad continued to raise worries.

In the Middle East, there was continued turmoil, and the Syrian civil war raged largely unabated. In Britain, voters narrowly opted to leave the European Union, again confounding the pollsters and pundits.

Among those who left us during the year: Muhammad Ali, Fidel Castro, Prince, the mother/daughter team of Debbie Reynolds and Carrie Fisher, Gordie Howe, Natalie Cole, Arnold Palmer, George Michael, John McLaughlin, Edward Albee, David Bowie, Zsa Zsa Gabor, John Glenn, Harper Lee, Abe Vigoda, Garry Shandling, Florence Henderson, George Kennedy, Morley Safer and Merle Haggard.

The real estate market showed a 3.7-percent increase in home sales to 21,097 (the highest total since 2006) but the average sales price was relatively flat, declining 0.5 percent to $556,368. Total sales volume bumped up to $11.7 billion, the highest since the market peak of $15.7 billion in 2005.

2017: The first year of the Trump

administration was a rocky road filled with highs and lows and a never-ending series of tweets.

On the positive side, the economy continued to do well, with the stock market seeing big gains and unemployment continuing its decline.

There were challenges, however, from racial strife at home to questions about Russian meddling with the 2016 election to increasing tensions with North Korea. Problems in familiar spaces, including the Middle East, remained.

In the local area, concerns about the direction of the economy remained, but for the most part unemployment stayed low.

It was a frustrating year for fans of local pro sports teams, which either seemed steeped in mediocrity or unable to pull themselves into the upper echelon of their leagues.

Among the famous names that went to the next life were Mary Tyler Moore, Chuck Berry, Jerry Lewis, Don Rickles, Glen Campbell, Adam West (“Batman”), David Rockefeller, Jim Vance, Dick Gregory, German leader Helmut Kohl and Zbigniew Brzezinski.

It was a solid year both for sales and prices across Northern Virginia, with a total of 22,555 properties going to closing last year, up 6.9 percent from 2017 – the highest sales total since 2005.

Total sales volume for 2017 – $13.1 billion – was up from $11.7 billion in 2016 and also was the highest since the all-time record ($15.7 billion) was set in 2005, according to preliminary data, while the average sales price of $579,694 was up 4.1 percent from a year before.

Affordability: Wage Growth Helps Boost Purchasers Continued from Page 18 Average mortgage rates jumped by nearly 30 basis points in the first quarter to 4.34 percent from 4.06 percent in the fourth quarter of 2017.

Of the 237 metropolitan areas recorded in the first quarter HOI, 167 markets registered a gain in affordability from the fourth quarter of 2017, 68 posted a loss and two were unchanged.

Youngstown-Warren-Boardman,

Ohio-Pa., was the nation’s most affordable major housing market. There, 90.9 percent of all new and existing homes sold in the first quarter were affordable to families earning the area’s median income of $60,100.

Meanwhile, Cumberland, Md.-W.Va., was rated the nation’s most affordable smaller market, with 98.5 percent of homes sold in the first quarter being affordable to families earning the median income of $55,500.

Rounding out the top five afford-

able major housing markets in respective order were Indianapolis-Carmel-Anderson, Ind.; Scranton-Wilkes Barre-Hazleton, Pa.; Toledo, Ohio; and Harrisburg-Carlisle, Pa. Smaller markets joining Cumberland at the top of the list included Springfield, Ohio; Elmira, N.Y.; Wheeling, W.Va.-Ohio; and Fairbanks, Alaska, which also posted a fifth place tie with Binghamton, N.Y. San Francisco, for the second straight quarter, was the nation’s least

affordable major market. There, just 9.2 percent of the homes sold in the first quarter of 2018 were affordable to families earning the area’s median income of $119,600.

Other major metros at the bottom of the affordability chart were located in California.

In descending order, they included Los Angeles,-Long Beach-Glendale; Anaheim-Santa Ana-Irvine; San JoseSunnyvale-Santa Clara; and San Diego-Carlsbad.

painting the entire interior, replacing old carpet and/or refinishing older worn hardwood floors. Others cost more, such as staging a home, updating kitchens and baths. Studies show however that homebuyers’ attentions are drawn to a home’s staging (how it presents visually) and to the condition of a kitchen and bathrooms.”

Marybeth Fraser, Keller Williams: “I recommend sellers start with the first thing buyers see and focus some

of their funds on curb appeal. Landscaping, replacing a front door, power washing and roof repair range from projects to more expensive overhauls.

Kitchens and bathrooms need to look their best. The more you can invest in updating these rooms, the more value will be added. Poor investment options that show little to no return on investment, and can actually lower a home’s value. These include bright paint colors, textured walls, too much

carpeting, and yard water-features.”

Bily Buck, Buck & Associates: “For a seller to have a budget to get a house ready to sell is music to my ears.

However, spending money is completely case-specific for each house.

Don’t put money into something that is not going to be necessary, like if a property is going to be a teardown.”

••• Our thanks to local real-estate pros for their comments!

Q&A: Spend Smartly to Get Biggest Bang at Sales Time

Continued from Page 5 man repairs. For $50,000 – A new roof, hot-water heater and HVAC system.

Then do the fun stuff, like the baths and the kitchen.”

Craig Mastrangelo, Re/Max Allegiance: “I outline areas of improvements/staging that can be made that will best prepare their homes for today’s market conditions. I think the best bang for your buck includes 22

SUMMER REAL ESTATE GUIDE | JUNE 2018

JUNE 2018 | SUMMER REAL ESTATE GUIDE

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CALL US TO LIST YOUR HOME

703.528.2288

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4656 North Dittmar Road

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3100 North Harrison Street

$1,500,00 · Country Club Hills 3 bed, 4 bath. Beautifully updated.

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2423 16th Street

3001 Franklin Road

2308 Vermont Street

$1,999,000 · Arlington New Construction.

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$1,429,900 · Charming Craftsman located just steps to Clarendon Metro, shops & dining in desirable Lyon Village.

$1,349,000 · Great 5 bed, 3.5 bath arts and crafts in Lee Heights.

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1609 Garfield Street

4607 North 40th Street

109 Brookside Drive

$2,075,000 · 5 bedroom, 5.5 bath. 2014 arts and crafts in Lyon Village.

$1,065,000 · Large 6 bedroom, 5 bath newly renovated home with private master suite.

Just 2 lights to D.C.

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3005 Franklin Road

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200 Little Falls Street #507

$1,710.000 · 5 bedroom, 4.5 bath.

Beautifully renovated Lyon Village foursquare home.

$1,060,000 · Fantastic 4 bedroom, 4.5 bath colonial style home with sunroom.

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Billy Buck & Co. · 709-524-9000

Ken Matzkin · 703-528-2288

703-528-2288 · www.buckrealtors.com · 2519 Wilson Blvd. Arlington, VA 22201 | A r l i n g t o n , V i r g i n i a 2 2 2 0 1 | ( 7 0 3 ) 5 2 8 - 2 2 8 8 | w w w. b u c k r e a l t o r s . c o m

2519 Wilson Boulevard

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SUMMER REAL ESTATE GUIDE | JUNE 2018