Issuu

2018

G R E AT FA L L S • M C L E A N • O A K T O N • T Y S O N S • V I E N N A

REAL ESTATE GUIDE

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2 | WINTER REAL ESTATE GUIDE | JANUARY 2018

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Celebrities: Homes of the Famous (Living or Not) Elvis, Johnny, Marilyn. The most iconic celebrities don’t need last names. But they do need places to live. The past year brought several homes once owned or occupied by Hollywood A-listers to market, or saw them find a buyer. The Web site www. toptenrealestatedeals.com has compiled some of the most interesting. The Audrey Hepburn and Eva Gabor Estate Since the 1920s after Douglas Fairbanks and Mary Pickford built their Pickfair Mansion in the new town of Beverly Hills, many of Hollywood’s top stars chose the area for their trophy homes. One home on Delfern Drive attracted more than its fair share of celebrity owners, including – at different times – actresses and fashion icons Audrey Hepburn and Eva Gabor. Located in the celebrity-infused neighborhood of Holmby Hills, the 7,000-square-foot traditional mansion is accessed through a gated entrance down a paved drive to the motor court. The private compound includes over an acre of lawns, tennis court, swimming pool, terraces, a 700-square-foot guest house and a detached 1,000square-foot staff quarters/office. The main house, built in 1938 and designed by architect-to-the-stars Paul Williams, includes a foyer with

Elvis Presley paid $21,000 for a one-year lease on this futuristic California home, where he spent his first year of matrimony with Priscilla. It can be yours; the listing price is $5.9 million. (Photo courtesy Rodeore.com)

focal curved stairwell, formal living room with fireplace and dedicated library nook, dining room, family room, kitchen, breakfast room and two staff bedrooms on the first floor. Upstairs are four bedrooms, including the master suite, totalling six bedrooms and four baths. Some rooms have glass walls overlooking mature gardens. Not surprisingly, the house also had a strong attraction to other stars of the era who lived there, including David Niven and Mia Farrow.

On the market and listed at $13.995 million, the listing agent is Jade Mills of Jade Mills Estates through Coldwell Banker Global Luxury, Beverly Hills. Marilyn Monroe’s Home Iconic Marilyn Monroe, starred in many of the most iconic films of 1950s and early ’60s, including “Some Like It Hot,” “Gentlemen Prefer Blondes” and “The Misfits.” Proceeds from her films, which grossed over $200 million, would have

afforded her the ability to buy almost any home her heart desired. However, she purchased only one house in her own name during her 36-year lifetime when she bought a home in the Brentwood neighborhood of Los Angeles in early 1962, just a few months before her death. She paid $75,000 for the partially furnished home; her mortgage payments were only $320 a month. Continued on Page 18

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JANUARY 2018 | WINTER REAL ESTATE GUIDE | 3

2017: Solid Year in the Region’s Real Estate A Staff Report Home sales and total sales volume across Northern Virginia in 2017 stood at their highest point since 2005, according to new data, while average sales prices hit an all-time high. A total of 22,555 properties went to closing last year, up 6.9 percent from the 21,097 transactions in 2016, according to preliminary data from the Northern Virginia Association of Realtors. The totals represent transactions in Arlington and Fairfax counties and the cities of Alexandria, Fairfax and Falls Church, and are based on each year’s preliminary report of sales in order to be an apples-to-apples comparison. (Therefore, figures may not directly correlate with those published elsewhere.) The annual sales were the highest since the 29,235 reported in 2005, which marked the end of a six-year boom in the local real estate market that would be followed by nearly as many years of declining sales before the market rebounded starting in 2012. 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. Last year’s average (and preliminary) sales price of $579,498 was up 4.1 percent from the $556,368 reported a year before, and surpassed the $558,988 of 2016 as the highest on record in the region. The average sales price represents all types of homes, including singlefamily, attached and condominiums. Looking back on more than 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 that has seen prices rise in seven of eight years and average prices grow 34 percent during that period. A complete year-by-year roundup of the local real estate market by the Sun Gazette staff, with sales data and anecdotes, from 1975 to 2017 can be found at www.insidenova.com/news/ real_estate/.

4 Decades of Home Sales Across Northern Virginia 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

AVERAGE SALES PRICE

TOTAL SALES

For year

Change

For year

Change

$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

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.

Survey Says: Home Prices Could Continue to Rise in 2018 Housing experts are increasing their expectations for home price appreciation as rising prices show no signs of slowing. Experts expect home prices to climb 4.1 percent in 2018, according to the 2017 Q4 Zillow Home Price Ex-

pectations Survey, an increase in their expectations for 2018. One year ago, experts predicted home prices would grow 3 percent in 2018. The quarterly survey, sponsored by Zillow and conducted by Pulsenomics LLC, asked more than 100 housing

4 | WINTER REAL ESTATE GUIDE | JANUARY 2018

experts, market strategists, and economists about their expectations for the U.S. housing market in 2018 and beyond. The United States is in the middle of a supply crisis – the number of homes for sale has fallen on an annual

basis for the past 33 straight months. Although building activity picked up slightly toward the end of the year, the biggest surprise of the 2017 housing market was the slow pace of singlefamily home building, according to the panelists.

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JANUARY 2018 | WINTER REAL ESTATE GUIDE | 5

Gracious Southern Living, a Prime Locale Glorious Estate-Quality Home Is Found in Fashionable Preserve at Scotts Run

he era when prospective home-buyers waited until the springtime thaw to begin their quest for a new property is long gone. These days, in the local area, when the calendar turns from one year to the next, a large cadre of buyers and their agents start the hunt. It pays to stay ahead of the curve, and at the Sun Gazette, we’re working to bring you some of the most creative, exciting and delightful homes on the market. And with this featured property, we’ve hit on all counts. A delightful Southern belle set in the sought-after Reserve at Scotts Run community of McLean, the home exudes confidence from the outside, where it is bracketed by mature trees for maximum visual impact on a lot that totals nearly a full acre. Inside, about 4,200 square feet of interior space is spread out for our inspection, with a contemporary flair featuring light-filled areas and extra delights around every corner. Meanwhile, in the rear yard you have a lovely deck that will be ready for al-fresco dining when Mother Nature starts sending warming sunshine our direction. The property currently is on the market, listed at $1,699,000 by Lilian Jorgenson of Long & Foster Real Estate. After a greeting on the charming porch, we are ushered inside to begin our exploration. The grand foyer proves this home is ready to entertain a crowd with flair as well as provide the comforts of daily living. To our right is the expansive living room and dining room combo, which runs the entire depth of the home and features a bay window overlooking the rear domains. The kitchen is a standout, with stateof-the-art accoutrements ready for the serious chefs among us, as well as a large island, a casual-dining area and access to the rear deck. The Great Room, with fireplace, occupies a strategic position, while set off the main traffic flow is a library with bay alcove, offering inspiration to every author. The grand master retreat is the showplace of the upper level, with a large bedroom area (with tray ceiling)

complemented by a lovely sitting area and augmented by a sumptuous bathroom and plentiful walk-in closet space. A second bedroom is en-suite, while two additional bedrooms share a large and inviting bath. There also is a convenient, upper-level laundry center. Now let us turn our attention to the “club level” lower part, which provides yet additional amenities. A large recreation room features a wet bar and recreation center, while there also is a lounge area and a flex space that works very well as the home’s fifth bedroom, a home office, an exercise space, an artist’s retreat . . . the list of options is pretty much limited only by your imagination.

The lower level also features a friends-and-family vestibule for entry into a lovely lower foyer, again showcasing the attention to detail that was lavished on this home when it was constructed. Outside, you benefit from the large lot, the aforementioned deck and wonderful plantings. Though close to everything, you are set apart in a world of classic, refined elegance. There really is no “down time” in the local real estate market, and with the spring buying juggernaut soon to be upon us, it’s time to get ahead of the wave and find something special to call your own. This home might be it! 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 (703)738-2521.

Facts for buyers Address: 1297 Scotts Run Road, McLean (22102). Listed at: $1,699,000 by Lilian Jorgenson, Long & Foster Real Estate (703) 407-0766. Schools: Churchill Road Elementary, Cooper Middle, Langley High School.

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703-407-0766

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MCLEAN

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Location, Location, Location! 8,800+ Total Sqft on .50+ Acres 7 Bedrooms, 5 Full Baths, 1 Half Bath

OAKTON

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MCLEAN

$2,890,000

Unparalleled Luxury! 9,300+ Total Sqft on 2 Acres 5 Bedrooms, 6 Full Baths, 2 Half Baths

ALEXANDRIA

$1,490,000

New Construction! 6,100+ Total Sqft on .30+ Acres 4 Bedrooms, 4 Full Baths, 1 Half Bath JANUARY 2018 | WINTER REAL ESTATE GUIDE | 7

For the love of home. GREAT FALLS

GREAT FALLS G IN

EILEEN SUMMERS 703-244-3190

GREAT FALLS

$1,450,000

GREAT FALLS

$799,000

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GREAT FALLS NG

N OO

BILL PATTON

R PE

703-625-1581

GR EAT FALL S

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

8 | WINTER REAL ESTATE GUIDE | JANUARY 2018

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Located in Lockmeade Estates, this neighborhood is convenient to the center of town and major commuting arteries. It provides a warm, welcoming atmosphere with top-notch community common areas that include: paved walking paths, Nike & Lockmeade county parks and Turner Farm. The home is a tremendous value having been extensively updated and improvedâ€”boasting a new roof & siding, renovated kitchen & master bath, refinished hardwood floors, and interior paint. It is truly move-in ready, and has three finished levels, four bedrooms and three and half baths. The exterior provides an outdoor dining deck and mostly level backyard, that backs to trees and overlooks serene common ground.

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JANUARY 2018 | WINTER REAL ESTATE GUIDE | 9

Q&A: Managing the Expectations of Sellers DAVE FACINOLI Staff Writer

If a seller insists on a specific listing price, whether too high or low, what steps can (or should?) Realtors take to convince a seller to bring it in line with the market? Also, have agents ever turned down a listing because they thought it was a waste of time? A number of local region’s top Realtors provided their views: Casey Margenau, Fine Homes and Estates: “You have to quickly make

up your mind if you want to work for a client who insists on pricing their home

too high. Pricing too high causes multiple problems, and that plays out over and over and over again.” Carol Temple, Coldwell Banker:

“The first thing is to make certain you want to get on that train. I have turned down listing on multiple occasions because you can tell right from the start it will not end well. Some listing presentations can be very brief, then you wish them good luck getting the price they want. With no exception, a home will sell for less than the market value if it is priced wrong to begin with. You try to stress that to the seller and keep nudging them to adjust to the right price,

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and remind them that time is not their friend.”

Casey Samson, Samson Properties: “I make every effort to educate the

seller on pricing and the fact they will get the best price in the first 30 days. If they are unrealistic, I do not take the listing. I have seen that movie and know how it ends. They will lose and lose big. We all have a limited supply of time, energy and money and we need to spend it on our sellers who are realistic. I look at ‘not taking the problem listing’ as protecting my good sellers. Unfortunately, every once in a while, I list a home I love but struggle to get the seller where we need to be. They rarely do. I always regret it and promise I won’t do it again.” Debbie McGuire, Keller Williams: “We try to understand the seller’s expectations, but if it is unrealistic, we may have to say no to a listing. It is the partnership between the seller and the agent that gets results. We usually recommend a price range. We may take the listing if the seller wants to try the higher end of the range, especially if we see strong sales trends, but with the understanding that the price will be adjusted if needed to sell into the current market. If there is not this understanding, then both parties will be disappointed.” Steve Wydler, Wydler Brothers Real Estate: “Sometimes it’s hard for

homeowners to disassociate themselves and be objective. It’s a lot about dialogue. We try to be highly analytical and rely on as much data as we can get our hands on, then compare and narrow the price range. Yes, we will absolutely turn down a listing if someone’s expectations are so unrealistic. We don’t want them to be set up for disappointment. Some sellers fall in love with the agent who gives them the highest price.” Karen Briscoe, Huckaby Briscoe Group, Keller Williams Realty: “We

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10 | WINTER REAL ESTATE GUIDE | JANUARY 2018

always look at the comps and market study and point out what is comparable. We can try a higher price the seller wants, but the market will tell us pretty quickly if that price was too high. Then we have to respond. It’s pretty rare that we turn down a listing if the seller is open to listening about the market.” Dean Yeonas, Yeonas and Shafran Real Estate: “We present the data to

a seller and tell them why we think the property is worth X. If a seller is someone we have known and is reasonable, we can try it at a price the seller wants, but with the understanding that after a two-week period, we might need to make the proper market adjustments. You do your best to educate sellers, but if the relationship is not a fit, we will not take a listing.” Ann Wilson, Keller Williams: “I recommend to get an independent appraisal done, and it’s a 50-50 chance that they get that done. I also like to take sellers around to look at like homes so they can see the competition. That can put them back into reality. If the expectations are unrealistic, I will turn down a listing.”

Rob Ferguson, Re/Max Allegiance: “We like to show a seller what

might happen if the original listing is too high. If the price is at a fair-market value from the beginning, they will get more for their home than pricing it too high at the start. You don’t want to end up chasing the market down. Buyers are smart and do their research. If a seller continues to be unrealistic, then there is not a lot we can do.” Gloria Adams, TTR Sotheby’s International Realty: “You show them

comps. That seems to be helpful and they have different viewpoints after that. I will always take a listing, with the caveat that will we need to have a price reduction after so many days, weeks or months. You have to keep your sellers aware of the market adjustments.” Jack Shafran, Yeonas and Shafran Real Estate: “We deliver them the mar-

ket information and comps. If they don’t agree, we respect that and will give them the benefit of the doubt, with the agreement that if there is no action, and there usually isn’t, there will be a conversation about reducing the price. If the chemistry does not exist from the start, sometimes you recommend another agent.” Dawn Wilson, TTR Sotheby’s International Realty: “The only thing I

can do is give my best professional advice. I discuss the marketing strategy. Ultimately, it is the seller’s decision. If it is overpriced, the seller will likely be chasing the market and the final sales price will probably be lower than if the home had been priced correctly at the beginning, or the seller may not receive any offers. If the seller insists on a list price that is unrealistic for the market, I discuss that it is important to respond quickly to the feedback we receive from the market and make the necessary corrections as soon as possible.”

Mark Middendorf, Long and Foster: “You explain to your clients there

are two values – a personal value and a market value. You can always negotiate with a seller and try their price for two weeks. Then if there is no action, we try my price. Buyers in this market are too savvy. They know if a property is priced too high.”

Lori Shafran, Yeonas and Shafran Real Estate: “It is a tightrope and a

dance, sometimes with sellers. It is a team approach and you [the agent] are invited to be the coach because of your skill level. You have to devise strategies where both can win. The agent is the expert and valued professional. You can try a few plays the seller’s way, then make adjustments if that becomes necessary.” Karen Close, Century 21: “I try not to turn down business but instead work toward an asking price that is supported by recent sales of like/kind homes, market atmosphere/condition and seller motivation.” Betsy Twigg, Washington Fine Properties: “I have a bit of a different

Continued on Page 20

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FLOOR SAMPLES • CLEARANCE • RUGS • SPECIAL BUYS • ONE-OF-A KINDS * Valid on Blue Tag clearance items only. See store for details. Featured items are not part of the Clearance/Blue Tag event.

JANUARY 2018 | WINTER REAL ESTATE GUIDE | 11

Buying

Selling

•

Mortgage

•

Title

•

Realtors

Insurance

Fairfax Station

$799,900

The Romer Team

Ann Romer CRS, GRI, ABR

(703)597-4289 RltrAnn@aol.com TheRomerTeam.com

Marianne Sipple,

Capitol Hill Towers

$399,500

1000 New Jersey Ave, SE Washington DC Spectacular 775 sq ft 1bed/ 1 bath unit one block to Navy Yard metro stop. Stylish building rich in amenities. Arlington Lee Heights

Realtor® 703-200-2681 Direct Marianne@SippleRealEstate.com www.SippleRealEstate.com

Land

WALNEY VILLAGE -- CHANTILLY

CLAIRE DRISCOLL GRI, CRS Life Member NVAR Multi Million Dollar Club

Build Your Dream Home Rarely available level 14,890 SF Lot on quiet side street in popular close in area feeding to Taylor/Yorktown schools. Pictured home is a 4 BR 2Ba Tudor Cape Cod in need of repairs but could be remodelled and expanded. $1,195,000

703-447-3555

Land in Langley Forest

McLean

Claire@Clairedriscoll.com

News From Your Neighborhood Specialist Rare opportunity to build MARGARET GILBOA Gets Results your dream home on a

$699,000 Defined to perfection this all-brick, + den, 3.5 For additional3 bedroom information andbath to make End townhome enjoys a wonderful Margaret Gilboa at and 703-629-0828. location serene setting

Enjoy the wonderful location & serene setting of this 3 level, all appointment call brick, end unit townhouse with 3 bedrooms + den & 3.5 baths

Barbara Ann Farmer ABR, GRI

571-213-7500 My Personalized Service is the Keystone to Your Satisfaction BarbCleo@aol.com

$3,150 MONTHLY Charming rambler, in Lee Heights, on two levels and a huge walk up attic too so close to Metro Bus, gourmet shops, and nature trails.

MARGARET Margaret Gilboa GILBOA GRI, CRS, ABR

Top 1%GRI, Nationwide CRS, ABR> 28 yrs margaret.gilboa@gmail.com 703-629-0828

THINKING OF SELLING, BUYING OR INVESTING CALL MARGARET 703-629-0828

$434,500

Splendid 3 bedroom, 2 1/2 bath end-unit townhome surrounded by open common land with huge trees. Large open flexible main level floor plan with lightfilled living/great room and dining area. Kitchen has oak cabinetry, S/S appliances and adjoining family room with gas log fireplace. MBR features two walk-in closets and a sky-lit luxury master bath. Extra large two- car garage.

FOR RENT

beautiful Cover 1 acre lot in T A coveted TRLangley Forest. N S CO AY serene and private Enjoy R Dthis DE IN 5 N setting, just minutes away U from Tysons Corner, the Capital Beltway, DC, and Washington’s airports. Public sewer and$675,000 gas are available.

C RA NT S CO DAY R DE 3 UN IN

NEW PRICE!!

A circular drive welcomes guests to this custom, all brick beauty on 6 acres. Hardwood on 3 lvls, updated BA’s, 4 fpls, 4 car gar, pool & spa enhance this charming home. Zoned for horses too!!

2347 N. Vermont Street Arlington

Top 1% Nationwide > 30 yrs margaret.gilboa@gmail.com

The Williamsburg

CECELIA LOFTON GRI, SRES

703 508-3968

cecelialofton2@outlook.com homesbycecelialofton.com

$440,000

Coming Soon – New Home! 3412 Annandale Road Falls Church, VA 22042

HAPPY NEW YEAR to all our clients and friends.

Dawn & MiMi Jones

“Let’s get a jump start with this beautiful new house!” Pre-construction price is $1,125,000 on one half acre lot inside beltway.

Arlington — The Eclipse CT RA T ON RC E D UN

703-517-2800 703-268-0364

KIM SHARIFI Lifetime Top Producer Top 5% National Sales Fantastic one bedroom, 9th floor condo with partial view of the Capital! Open and airy with 810 s/f living space. Balcony off living room. Secure building, with garage parking space, and on-site management. Quick kimsharifi@hotmail.com walk to Courthouse Metro, Farmers Market, Shops and Restaurants. www.myhomesdb.com/kimsharifi

703-216-0454

$540,00 A lifestyle of convenience and city living at its best! 2 bedroom, 2 bath condo with 2 parking spaces, 1242 sq ft, new hardwood floors, SS appliances, granite counters, completely painted, large walk-in closet in master and 24 hr. Harris Teeter downstairs.



  

  Maintain width of dot/marks with base of i

Cap Height

1/32 cap height gap

X Height

dschweinhaut@gmail.com

Cell: 703.675.1253

DEBBIE SCHWEINHAUT

7/64 cap height even with top arm of t

GRI, ASP

1/4 Cap Height

R E A L T O R S

McLean Office | 703-760-8880 R E A L T O R S

12 | WINTER REAL ESTATE GUIDE | JANUARY 2018

R E A L T O R S

Fairfax: County Sees Solid Year in 2017; Sales and Average Prices Had Growth The Fairfax County real estate market posted a solid, if not showstopper, year in 2017, with both total sales and average sales prices headed in positive territory. A total of 16,109 residential properties changed hands during the year, according to data provided by the Northern Virginia Association of Realtors, based on data from Bright MLS. That’s up 2.3 percent from 15,755 transactions in 2016. Sales of single-family homes rose 3.8 percent to 8,203, with sales of attached homes (such as townhouses) rising 0.7 percent to 7,906 and sales of condominiums up 5.7 percent to 3,348. Average sales prices also rose, climbing 4.3 percent to $587,829, with increases in all three segments of the market: • The average sales price of singlefamily homes was up 5.2 percent to $749,473. • The average sales price of attached homes was up 1.2 percent to $379,361. • The average sales price of condominiums was up 1.6 percent to $286,606.

The median sales price of all homes that sold was up 4.2 percent to $495,000, representing the point at which half of homes sold for more, half for less. A total of 1,177 properties changed hands for $1 million or more, including 65 for more than $2.5 million and seven for more than $5 million. Add up the sales and prices, and the Fairfax market saw a total sales volume of $9.15 billion in 2017, up 6.6 percent from $8.58 billion a year before. Of homes that went to closing in 2017, it took an average of 45 days between listing and ratified sales contract, an improvement from 52 days a year before. More than 6,700 homes – more than 40 percent of the total – were on the market for 10 days or less before finding a buyer. Conventional mortgages represented the method of transacting sales in 10,280 cases, followed by VAbacked loans (1,920) and cash (1,829). Sales represent most, but not all, homes on the market. Figures for 2017 are preliminary, and are subject to revision. – A Staff Report

ICE R P T GREA

S P E C I A L I N V I TAT I O N Simplifying Selling (or Downsizing?) You're invited to this FREE Community Event Wine & cheese will be served! Learn valuable tips & selling secrets from our DREAM TEAM Where do I begin? Can I buy & sell simultaneously? What updates, if any, do I need to make? Paint? Reno?

When: Where: Register:

ED T S I L JUST

Wednesday, Feb. 7th, 2018 – 7:00 to 8:30 PM Keller Williams Realty, McLean 6820 Elm Street, McLean, VA Call 703.636.3594 or Team@StansfieldSignature.com

Joan Stansfield, Realtor

Joan@StansfieldSignature.com www.StansfieldSignature.com Licensed in VA, MD, & DC

TED S I L JUST

9916 Chase Hill Ct, Vienna

1610 Great Falls St, McLean

8210 Madrillon Estates Dr, Vienna

Brick front center-hall Colonial in cul-de-sac in wonderful family neighborhood near Wolf Trap watershed. Enjoy views of undisturbed nature from kitchen and back deck. Hardwood floor on main level, new kitchen appliances. Rebuilt deck, new gutters and down spouts, walk-out basement plumbed for full bath. Top rated schools, trees, privacy, near Wiehle Ave. Metro and 15 mins to Dulles Airport.

Exquisite Mediterranean-style Residence: dramatic 2-story foyer, spectacular circular staircase to master suite. Open floorplan, expansive rooms, high ceilings, fabulous scale & volume. Linear "See-Thru" fireplaces in dining room, library, master bed & bath. Gourmet kitchen, Subzero, Bertazzoni 6-burner range, hood, granite, silestone. Theatre room, wet bar, wine cellar, and more!!

Open House Sunday, January 28 from 1:00-4:00 Immaculate 5,000 sq ft. home within walking distance to Tyson's Corner Center. This four bedroom, four and a half bath home offers a main level that flows like an executive single family. The upper level features a gracious master bedroom with fireplace and separate sitting room (or fifth bedroom), ceiling fan, and custom walk-in closet. Luxurious master bath has new split vanities, large soaking tub, and tiled shower. In the lower level, there is a large rec room, gym area, storage room, plus a full bath. The backyard is perfect for entertaining or relaxing, with a large patio area surrounding an in-ground pool.

Call Bron Davis

703-987-0656 COLDWELL BANKER • JANUARY 2018 | WINTER REAL ESTATE GUIDE | 13

CONGRATULATIONS to our TOP PR

John Jorgenson 703-352-3000 TOP AGENT

Eric Stewart 800-900-9104 TOP TEAM

Lilian Jorgenson 703-407-0766

FALLS CHURCH

$800,000

buyandsellwithBethany.com

BeauƟful 4BR/2FBA/1HBA home in Falls Hill subdivision of Falls Church. Great interior space too plus kitchen & baths are updated! Close to commuter routes and W&OD Trail! 1.3 miles to WFC Metro.

Bethany Ellis 703-307-7003 FALLS CHURCH $2,395,000

ARLINGTON

Bethany Ellis 703-307-7003 $670,000

buyandsellwithBethany.com

Jess Johnson 703-282-5055

ARLINGTON

FOR RENT $3,700

www.Lilian.com

Quaint and adorable home in N Arlington. Loved home in need of updaƟng. In great locaƟon. Close to Lyons Village, Spout Run Pkwy, and more!

Spectacular 4-lvl end TH with opƟon to rent furnished ($3,900/ mo) 2-car gar parking. FR w/ replace & screened-in deck. Master suite on 4th level w/glassed sun room & terrace. Eat-in kit. Walkout lower level to paƟo.

Bethany Ellis 703-307-7003

Lilian Jorgenson 703-407-0766

MCLEAN

WarrenKluth.LNF.com

$2,495,000

www.821ClintonPl.com

Incredibly private 2.3+ acre estate in Falls Church. 5/6 Bedrooms, 5 full & 2 half baths, 3-car garage, pool, stone pool house, gazebo with replace, cabana with full bath, outdoor kitchen and more!

Truly unique home in the heart of McLean. Situated on a private and quiet street, yet convenient to major roads, airports, downtown McLean & DC. Breathtaking views and oor plan. MulƟple decks & paƟos and outdoor replace.

Warren Kluth 703-244-1111

Laurie Mensing 703-965-8133

ALEXANDRIA

Victoria Kilcullen 703-915-8845

VIENNA

www.Lilia

FantasƟc colonial in a neighborhood surrounded land. Hardwd oors. Gorge large island & breakfast rm suite with 2 closets & triple Huge paƟo, perfect for out ing. Landscaping & lawn se covered and provided by th

Lilian Jorgenson 703-4 $929,000

www.VictoriaKilcullen.com BeauƟful open concept TH in Old Town’s presƟgious waterfront community. Chef's kitchen w/ stainless steel appliances & granite counters. French doors to paƟo. BeauƟful built-ins; 2 gas replaces. Soaring ceilings in Master BR and huge spa-like master bath.

Cassand 202-38

Warren Kluth 703-244-1111

MCLEAN

NancyJo.

WOW! All the work is nished hardwoods, fr brick paƟo, move in rea rooms, 4 Baths.

Nancy Jo Powers 703-

Averaging over a $BILLION in home sa

Thank you for y 14 | WINTER REAL ESTATE GUIDE | JANUARY 2018

MCLEAN SALES OFFICE 1355 Beverly Rd, Suite 109 McLean, Virginia 22101 703-790-1990 www.McLeanVAHomes.com

RODUCERS for DECEMBER 2017!

dra Welch 80-7120

Nancy Willson 703-899-7143

FOR RENT $4,500

wonderful by parkeous kit w/ m. Master e windows. tdoor dinervices are he owner!

407-0766

$735,000

.LNF.com

-862-9377

RESTON

Ilham ElAdlani 703-499-0558 $599,900

www.DebbieHouses.com

an.com

done. Reresh paint, ady! 3 Bed-

Deborah Larson 703-966-9474

Grace Wuthnow 949-232-6428

MCLEAN

Elegant condo close to shops. Adjacent to the interior courtyard, this 1560 sqŌ 2BR+den, 2.5Bath condo has large enclosed paƟo, private access elevator, open kitchen, 2 gar parking spaces! Perfect for downsizers!

Deborah Larson 703-966-9474

Deborah Larson 703-966-9474 $448,500

www.MarkGoedde.com BarbaraJohnson.LNF.com Stunning end-unit condo with loads of windows overlooking the Vienna/Fairfax Metro. Upgraded open gourmet kitchen w granite, large master bath with separate tub & shower, cozy gas replace. Garage parking. 2 BR, 2 baths w library/3rd bedroom.

Mark Goedde 703-850-8129

$899,900

OAKTON

Mark Goedde 703-850-8129

Langley Oaks

$1,500,000

This 4-bedroom, 4.5-bath luxurious colonial in Langley Oaks High School cluster is sure to inspire! With a stunning, state-of-the-art kitchen and an impressive 18-foot ceiling family room with two-story windows and raised brick-face replace, this home is one to remember.

Eric Stewart 800-900-9104

$898,500

www.MarkGoedde.com BarbaraJohnson.LNF.com Great expansive colonial with many updates. Gourmet kitchen & upgraded baths. Hardwood oors on upper lvls. Deck, yard backing to common area. Home also fronts to common area. Fin walkout LL. 2 gas FPs.

MCLEAN

Sharon Hayman 703-402-2955

www.EricStewartGroup.com

www.DebbieHouses.com

Pending: rarely available end unit townhome in North Point area w/detached 2-car garage. Thoughƞully updated kitchen. 3 Bedrooms, 3 full baths. New wood oors main level. Large rear deck overlooks wooded parkland.

FAIRFAX

Fouad Talout 703-459-4141

Washington, DC, NW

$399,999

MarjorieMeyers.LNF.com Great investment! BeauƟful Cleveland Park Condo. Metro at front door! Well run building, low condo fees and uƟliƟes. Fabulous neighborhood. Can be sold furnished.

Marjorie Meyers 703-967-0999

ales annually over the past five years

your business! JANUARY 2018 | WINTER REAL ESTATE GUIDE | 15

Creative Design Set in High-Appeal Area

Custom Features Provide Exceptional Opportunity for Entertaining in Style

et on more than two acres in a pristine, verdant part of Great Falls, our featured property offers the opportunity to own an immaculate home in a private setting that features refinement throughout. With an exceptional visual appeal from the outside, the home is complemented by an exceptionally well-crafted interior design, perfect for entertaining but also offering the opportunity for sublime daily living. From the enchanting master retreat on the upper level to the gloriously state-of-the-art home theater in the walk-out lower level, the home proffers exceptional opportunities for everyone. The property currently is on the market, listed at $3,499,000 by Casey Margenau of Casey Margenau Fine Homes & Estates. A gated driveway provides a sense of security and elegance, and as we drive up to the home, we have the opportunity to enjoy the landscaped courtyard with a water fountain. It makes a fittingly successful first impression. Custom mahogany entrance doors usher us into the copious foyer, and from here we are free to enjoy a flight of fancy as we explore the domains. The formal living room is to our right, with a charming fireplace ready for use on these cold winter nights. The embassy-sized dining room is to our left, with a custom butler’s pantry nearby. The light-filled kitchen is generous in its proportions and effective in its layout, with top-of-the-line appliances and two islands. A breakfast room nearby provides lovely vistas. Living up to its name, the Great Room is perhaps the showstopper of the first floor, with a fireplace and built-ins. A home office, with lovely bay window overlooking the rear yard, rounds out the main level. Taking either of two staircases, we arrive at the upper level, where the master retreat is a study in sumptuousness, featuring a plentiful bedroom area, stun-

out lower level, which features a recreation room with custom bar as well as the aforementioned home theater with fabric-covered walls for perfect acoustics. There also is an additional bedroom and home office. A three-car garage will provide all you need for vehicles and storage, while the large rear yard features a playground. And never fear: a home generator ensures you never go without modern necessities, even on those rare occasions when the power goes out. Equal parts warmhearted and elegant, the home is a testament to creative design with a heart. Located in a sought-after enclave in Great Falls, it’s like living in Hunt Country but retaining a close-in connection to all the amenities of the local area. 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 (703)738-2521.

Facts for buyers

ning bath with custom Robern medicine cabinets, copious closet space, and a balcony that overlooks your rear domains. Three additional en-suite bedrooms

are found on the upper level, as is a quite large bonus room perfectly at home as an exercise area. The amenities continue in the walk-

Address: 10603 Creamcup Lane, Great Falls (22066). Listed at: $3,499,000 by Casey Margenau, Casey Margenau Fine Homes & Estates (703) 827-5777. Schools: Great Falls Elementary, Cooper Middle, Langley High School.

Over 2.5 Billion Sold

KNOWLEDGE

16 | WINTER REAL ESTATE GUIDE | JANUARY 2018

EXPERIENCE

TRUST

DONNAMOSELEY & JOHNMCNAMARA COMMUNITY LEADERSHIP. WORLD CLASS SERVICE. John McNamara +1 703 395 2908 jmcnamara@ttrsir.com

Donna Moseley +1 703 623 5294 dmoseley@ttrsir.com

SEE OUR FILMS AT donnamoseley.ttrsir.com & johnmcnamara.ttrsir.com

Spring Into 2018 With A New Home

UNDER CONTRACT IN 5 DAYS 7849 Westmont Lane, McLean $2,799,000

COMING IN FEBRUARY 8270 Trailwood Court, Tysons, $1,450,000 Over 6800 sq ft, designer appointments

COMING SOON 8284 Spring Leaf Ct, Vienna $1,124,900 Beautifully Presented Tysons Home

COMING SOON 2826 Cedarest Rd, Fairfax $979,900 Stone Lodge on 1-3 Acres

FOR SALE 3409 Willow Tree, $724,900 Freshly Updated

SOLD 2633 Sledding Hill, Oakton List Price: $1,499,000

SOLD 1387 Northwyck Ct, McLean List Price: $1,325,000

UNDER CONTRACT 2128 Haney Lane, Tysons, $889,900 We brought the buyer!

TTR Sotheby’s International Realty +1 703 319 3344 6723 Whittier Avenue, Suite 101 McLean, VA ©2017 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.

JANUARY 2018 | WINTER REAL ESTATE GUIDE | 17

Celebrities: Homes of the Famous (Living or Not) Continued from Page 3 Situated on a private gated half acre, the 2,624-square-foot house, built in 1929, retains all the beautiful architectural details that made it feel like home to Monroe. Details include four bedrooms, three baths, cathedral ceilings with wood beams, a fireplace with Mexican-tile surround in the living room, casement windows, arched doorways, Saltillo tile floors, a citrus orchard and her famous kidney-shaped swimming pool. Outside is a tree-shaded, brick patio overlooking the pool and the original guest house. The home sold in 2017 for $7.25 million – $350,000 above the asking price. Jane Fonda’s Beverly Hills Contemporary From acclaimed Hollywood and Broadway actress and war protester to selling over 17 million exercise videos, Jane Fonda shows no signs of slowing down. She has owned and lived in many beautiful homes over the years from her New Mexico ranch, where she lived in jeans and cowboy boots, to her sleek and sophisticated home in Beverly Hills Trousdale Estates, which she put on the market in 2017. The 7,100-square-foot home’s glass walls, glass elevator and multiple covered and open terraces create indoor/ outdoor living spaces to enjoy sweeping canyon and ocean views. Though very sophisticated in design, the home is warm and inviting, with multiple spaces for entertaining. In addition to the outdoor viewing pavilion with fire pit, there is yet another special place: the meditation garden. The stunning contemporary home in Beverly Hills overlooking a canyon and Pacific Ocean originally was listed at $12.995 million then reduced to $9.995 million. Listing agents are Jade Mills and Valerie Fitzgerald of Coldwell Banker Previews International in Beverly Hills. Heeeeeeeere’s Johnny’s Home Johnny Carson, the king of latenight television, was a standout among entertainers, to which his 30year longevity on the “Tonight” show is testament. He sent Americans to bed each night with a smile on their face, and was instrumental in boosting the careers of many entertainers we still enjoy today, including Jerry Seinfeld, Ellen DeGeneres, Roseanne Barr, David Letterman and Jay Leno. After he moved his show from New York to Burbank in 1972, Carson loved to play golf, and for a number of years owned a home in Bel Air. In the mid1980s he bought a four-acre, cliff-top home above the celebrity-studded Point Dume community in Malibu overlooking the Pacific Ocean, where

Jane Fonda put her Trousdale Estates (Beverly Hills) contemporary on the market in 2017. Originally listed at just under $10 million, it’s since been reduced to just under $10 million. (Courtesy Coldwell Banker Previews International)

The only home Marilyn Monroe ever owned. She paid $75,000 in 1962 (and got some furnishings as part of the deal). It sold in 2017 for $7.25 million – above asking price. (Photo courtesy Lisa Optican/Mercer Vine)

he lived with fourth wife, Alexis, until his death in 2005. The house, designed by architect Ed Niles, is a study in wood beams, glass and indoor landscaping that blurs the line between indoors and out. On the grounds are championship tennis courts with a pavilion that has two bedrooms, kitchen, gym and locker room, a waterfall and koi pond, and another separate guest house. After Carson‘s death in 2005, his wife Alexis continued to live there for two more years before selling to film producer Sidney Kimmel and his wife, Caroline. The Kimmels restored it to its original plan and in 2017 put it on the market for $81.5 million. Chris Cortazzo of Coldwell Banker Malibu West, is the listing agent. The Honeymoon Home of Elvis and Priscilla Elvis Presley met Priscilla Beaulieu in Bad Nauheim, Germany, in 1959 during his service in the military; she was the daughter of an U.S. Army officer

18 | WINTER REAL ESTATE GUIDE | JANUARY 2018

and his wife. Their budding relationship turned into a marriage proposal just before Christmas in 1966, and the couple was married at the Aladdin Hotel in Las Vegas in May 1967. Presley obtained this Los Angeles property as their honeymoon house on a one-year lease for $21,000, and their child, Lisa Marie, was born exactly nine months later. The home was designed by modernist architect William Krisel and featured in a 1962 Look magazine article as “The House of Tomorrow.” Futuristic even for today, the midcentury-modern round house is on the market with walls of glass overlooking a secluded pool terrace and views of the Santa Rosa Mountains and the Coachella Valley. The 5,000-square-foot house has five bedrooms and five baths and comes with 1.16 acres of land with private garden, tennis court and orchard in addition to the swimming pool. Put on the market at $5.9 million in 2017, the listing agent is Mary Kay Nibley of Rodeo Realty, Beverly Hills.

Celine Dion’s Florida Water Park After going on the market almost four years before, the Florida waterpark home built by Celine Dion and her late husband, Rene Angelil, sold in 2017. Celine and Rene purchased the five-acre lot in Jupiter, Fla., in 2008 for $7 million and in 2010 began building the house, which includes 13 bedrooms, 14 bathrooms and golf simulator within its 20,000 square feet. The Bahamian-inspired mansion is open and airy with multiple glass walls for viewing the property and includes a tennis court and guest house. The lavish pool system requires 500,000 gallons of water and includes two swimming pools, two water slides, a lazy river, water cannons and a tree house. Gaining much notoriety over its massive water-park feature and more than 400 feet of Atlantic Ocean beachfront, the property was introduced to the market at $72 million in 2013 and went through several price cuts before selling in 2017 for $28 million.

Welcome home, Arlington. From this elegant Clarendon retreat to the picturesque bungalows of Lyon Village, discover the finest real estate Northern Virginia has to offer and the tenured agents to guide you there. compass.com

Q&A: Managing the Expectations of Sellers Continued from Page 10

perspective. A lot of the time it’s about a seller’s motivation. Do they really want to sell? They might want to price it too high on purpose because they really want to keep the home?” Mike Highman, Acquest Realty:

“First, we must remember as Realtors we have a fiduciary duty to our clients to meet their concerns and needs. I try to understand why the seller has that stratosphere number, then after a thorough and in-depth comprehensive market analysis that shows the property’s market value, we review a pricing strategy. One such plan is a step-down offering price schedule. After a mutually agreed upon time frame, we analyze the traffic interest and then move on to the next appropriate price offer if need be. Turning down a listing means you are not comfortable with going outside the envelope.” David Howell, McEnearney Associates: “Sometimes, we and the seller

ly – the client’s time. If there isn’t a mutual, trusting relationship up front, then there are likely to be problems ahead.”

were a waste of time, but because sellers refused to take my advice on pricing and marketing strategies.”

list price that the agent feels is unrealistic, the agent has a few options: negotiate in pre-determined price reductions; insist on a retainer fee to cover marketing costs if the listing ultimately fails to sell; or decline the listing. I love the quote, ‘No one has the ability to waste my time except for me.’ Turning down a listing should be an agent’s last resort, but it is a powerful thing to be in charge of our time.”

tell them: ‘I would prefer to disappoint you now [during a listing presentation] than let you down three to six months down the road if/when price becomes the main buyer objection. If the price they desire is closer to market absorption, I may agree to their higher price, but request that timelines be built into our listing agreement to ensure price reductions, at specific periods.” Dee Murphy, Long & Foster: “Luckily, the majority of sellers in this market are sophisticated enough to be reasonable. To prepare for an aggressive seller, it is critical to provide relevant data on recent sales, with pictures and stats. If the seller insists, I would negotiate a time period to test their price (two weeks), and if the feedback is that it is priced too high and we have no offers, we agree to adjust the price immediately. I have respectfully passed on a listing when the seller is insistent on an absolutely unreasonable asking price. It does not reflect well on an agent to have their for sale signs sitting in people’s yards for months on end.” William F.X. Moody, Washington Fine Properties: “We prepare a pricing chart showing the high, low, median and average for the seller. Often sellers want

Anslie Stokes Milligan, McEnearney Associates: “If the seller insists on a

Glenn Lewis, McEnearney Associates: “When a seller lists an unrealistic

price, I’d simply hit them head on by saying the comparable data didn’t support their desired price and wish them luck with the sale. All the marketing in the world won’t sell an overpriced listing. I have definitely turned down overpriced listings. They can be costly and a waste of time for all.”

agree to a pre-agreed price reduction Timur Loynap, McWilliams Balwritten into the listing agreement if the lard: “It all depends on my relationship property hasn’t gone under contract by a with the seller. If it’s long-standing, I defined time on the market. Or, we agree might bite the bullet and take on a listthat the seller can try their price, and if it ing that is overpriced. I would make it doesn’t work, we’ll sit down for a serious clear to my seller that the list price has conversation about changing the price. no basis in reality by providing a comYes, we have walked away from possible parative market analysis that puts the listings because we bthink it would be list price HBM AD flat 12-4-2017.pdf 1 a12/4/17 4:41into PM perspective. I have turned waste of our time and – more important- down listings not because I feel they

CMY

Craig Mastrangelo, Re/Max Allegiance: “I may not take the listing and

to choose a higher price, but having this written documentation is important as when an offer comes in, it is effective to show the seller what the pricing experts recommended from the beginning of the sales process. I have occasionally turned listings down when the seller didn’t take the time to focus on the educational process of the pricing and market conditions.” Natalie Roy, Keller Williams:

“When a seller is focused on an extremely high listing price, I suggest an appraisal. The benefit is the seller gets an impartial professional opinion on the value of their property. If the seller decides not to get an appraisal, or gets one and is still wedded to an unrealistic sales price, I decline the listing. To a seller who has unrealistic ideas of a listing price for their home, if you’re the highest bidder on the home you get to keep it.” Tania Hosmer, Keller Williams: “If a seller wants to list their home for a sales price that is too high, I provide them with the most relevant sales information comparable to their home and discuss how it affects price in their neighborhood. I also explain current trends occurring in the local real estate market and then outline the best pricing strategy. Sometimes, it turns out to be an ‘I told you so’ situation based on the realities of the market and reactions of potential buyers and other agents. Personally, I hope never to turn down a listing. No listing is a waste of time. Some take more time and patience.” Billy Buck, Buck & Associates: “It’s a seller’s choice to list a price how they want. We will not fight with them. We try to give them guidance and decide on a price that is appropriate and close to the market. There are some cases when sellers are not in a rush to sell their property. I don’t like the strategies of ‘testing the market’ with a home, so I have respectfully declined some listings.” Eli Tucker, Eli Residential Group: “Sales strategy is about probabilities. The probability of selling well above market value is very low and the probability of having to sell below market value after you’ve been on the market for too long is high. I provide my clients with a risk assessment, make a recommendation, and allow them to choose the strategy that works best for them.” Joan Stansfield, Keller Williams: “I provide and explain the data that does not lie. Or, I’ve agreed to list at their desired price so long as they understand the importance of adjusting the price and agree to periodically adjust. Yes, I have turned down a listing when I sensed the sellers were not going to listen to me and trust my judgment. One of my favorite lines I often share is: ‘In life, you want to be the first born, the second wife and the third Realtor.’ I’m often the second or third Realtor who finally is able to get the home sold.” Dianne Van Volkenburg, Long & Continued on Page 26

20 | WINTER REAL ESTATE GUIDE | JANUARY 2018

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Predictions: Where Is the Market Headed in ’18? Where is the national real-estate market headed in 2018? Trulia chief economist Ralph McLaughlin has a number of predictions for the housing market in 2018. “Home-ownership will continue its comeback story in 2018 as Gen Xers who were hard-hit during the Great Recession become homeowners again, and as more Millennials buy homes for the first time,” McLaughlin said. “But homebuyers won’t be without challenges, as they’ll still face low inventory, slow wage growth and expensive starter homes.” Among McLaughlin’s views, along with data from a Harris poll conducted in the fall for Trulia, are the following hot topics: Tax Plans May Help Cool Expensive Coastal Markets: As Washington has approved a tax overhaul that shifts some burdens for homeowners, the luxury market and housing markets in expensive, high-tax states in the Pacific West and Northeast might see cooling. This could include slowing home-price growth, new construction and existing home sales. Home-Ownership Rate Will Continue to Climb: 2017 saw the first significant increase in the home-ownership rate in over 10 years. Meanwhile, the number of owner-occupied households grew faster than renter

households for three consecutive quarters – a first in 12 years as the number of renter households fell for two consecutive quarters. As Gen Xers transition back from renting to owning and more Millennials become homeowners, the homeownership rate will continue to increase as it has trended in 2017, albeit slowly. Markets to Watch: Trulia identified 10 housing markets to watch in 2018 among the 100 biggest markets, based on five key metrics: strong job growth over the past year, low vacancy rates, high starter-home affordability, more inbound than outbound home searches on Trulia and a large share of people under age 35 in the population. Those markets: Grand Rapids, Mich.; Nashville; Raleigh, N.C.; El Paso, Texas; San Antonio, Texas; Fort Worth, Texas; Austin, Texas; Columbus, Ohio; Madison, Wis.; and Cincinnati. Some Will Wait to Buy: One in four Americans (25 percent) believe buying a home in 2018 will be better than in 2017 – the same as those who say it will be worse. One possible reason for the split sentiment: 40 percent of American renters who desire to buy a home say rising home prices is their biggest obstacle to home-ownership – the high-

est level reported since 2013. Perhaps as a result, only 10 percent of Americans plan to buy a home as their primary residence in the next 12 months while 41 percent plan to wait at least two years. Rising Optimism for Home Selling Unlikely to Ease Tight Inventory Immediately: Nearly one in three Americans (31 percent) think 2018 will be a better year for selling a home than 2017, versus 14 percent who think it will be worse – a 17-percentage-point differential, the highest since 2014. This spells good news for the current inventory crunch, but relief may not come for a few years, as only 6 percent of homeowners plan to sell their home in 2018. Most Millennials Aspire to be Homeowners, But Saving Money Remains Key Obstacle: Today, 73 percent of Americans aged 18-34 say home-ownership is part of their personal American Dream; however, this majority is below 2015’s level of 80 percent expressing this same sentiment. Yet for many Millennials, their home-buying plans aren’t happening soon: 65 percent who plan to buy a home one day said they don’t plan to do so until at least 2020. Why are they waiting? Perhaps lack of funds – saving for a down payment

is one of the greatest obstacles to home-ownership (66 percent), along with rising home prices (47 percent) and qualifying for a mortgage (37 percent) for Millennial renters who want to buy a home. Natural Disasters Causing Homeowners, Home-Buyers to Rethink Where They Live: After 2017’s array of floods, hurricanes, wildfires and other natural disasters, 39 percent of Americans say they are more concerned about the potential threat of such disasters affecting their homes, with a higher proportion of those in the hurricane- and flood-ravaged South expressing concerns (43 percent). Only 5 percent of Americans are less concerned about this potential threat. More tellingly, a majority of Americans said the potential for the aforementioned natural disasters – floods (72 percent), hurricanes (61 percent) and wildfires (58 percent) – would influence their home searches if they were looking to purchase a home. ••• This survey was conducted online within the United States between Nov. 9-13 among 2,188 adults by Harris Poll on behalf of Trulia. The online survey is not based on a probability sample, and therefore no estimate of theoretical sampling error can be calculated.

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Survey Says: Idaho Was Fastest Growing in 2017 Idaho was the nation’s fastest-growing state over the last year, according to new Census Bureau data, with its population increasing 2.2 percent to 1.7 million from July 1, 2016, to July 1, 2017. Following Idaho for the largest percentage increases in population were Nevada (2 percent), Utah (1.9 percent), Washington (1.7 percent) and Florida along with Arizona (1.6 percent). “Domestic migration drove change in the two fastest-growing states, Idaho and Nevada, while an excess of births over deaths played a major part in the growth of the third fastest-growing state, Utah,” said Luke Rogers, chief of the Census Bureau’s Population Estimates Branch. With an estimated population of 8.47 million, Virginia’s yearover-year population growth was 0.7 percent. The U.S. population grew by an estimated 2.3 million between July 1, 2016, and July 1, 2017, representing a 0.72-percent increase to 325.7 million. The population of voting-age residents (adults age 18 and over) grew to 252.1 million (77.4 percent of the 2017 total population), an increase of 0.93 percent from 2016

California remained the most populous state in the nation in Idaho is Nation’s Fastest-Growing State July 2016, with an estimate of Population Change From July 1, 2016, to July 1, 2017 39,536,653 residents. Texas was second (28,304,596), followed Percent population change Percent change by region by Florida (20,984,400). RoundAK Northeast 0.2 Greater than 2.0 ing out the top 10 were New 0.5 to 2.0 Midwest 0.3 York, Pennsylvania, Illinois, Ohio, 0.0 to 0.4 South 1.0 George, North Carolina and Population loss 1.0 West Michigan. Texas had the largest growth in raw numbers, with its population growing an estimated 399,734 in the year ending July 1, 2016. Florida added 327,811, while California brought in 240,177. Eight states lost population between 2016 and 2017, with Illinois having the largest numeric decline, losing 33,703 people (a relatively small percentage change compared to its population of 12.8 million). Wyoming had the largest percentage decline (1 percent). Three states HI that had been losing population in the previous year, Pennsylvania, Connecticut and Vermont, Source: Vintage 2017 Population Estimates saw slight increases. www.census.gov/programs-surveys/popest States in the South and West continued to lead in population growth. In 2017, 38 percent of and 2017, making it the first drop (249.5 million). the nation’s population lived in Net international migration de- since 2012-13, but still added just over the South and 23.8 percent lived in creased 1.8 percent between 2016 1.1 million people. the West. WA

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2018: Convergence of Factors Will Impact Market Those hoping for relief from the ongoing inventory crisis won’t find it in 2018, although home-appreciation rates are expected to ease slightly in the new year, according to a compendium of predictions from Zillow. “We’re on the other side of the housing recovery, and the real-estate market looks quite different than it did 15 or even five years ago,” said Zillow chief economist Svenja Gudell. “We have a huge generation entering the market. They really want to be homeowners, and they’re faced with an inventory crisis that leaves them with few options.” Zillow’s 2018 housing predictions include: • Inventory shortages will continue to impact the housing market: The lack of homes for sale will remain a top concern in 2018, playing a signif-

icant role in rising home prices. Inventory has been falling since 2011, and there are 12 percent fewer homes for sale than there were a year ago. This will be particularly difficult for firsttime home-buyers who don’t have the capital from a previous home sale to help with the down payment, especially in hot markets. • Homeowners will choose to remodel instead of sell: Homeowners, wary of becoming buyers in such a limited market, will choose to remodel their homes instead of moving, worsening the inventory crisis. “In most markets around the country, housing has become a game of musical chairs, and nobody wants to be the last one without a seat,” Gudell said. “Homeowners who are looking for a change will turn to remodeling and redecorating instead of selling

their home and facing the challenges of being a buyer in a sellers’ market. • Baby Boomers and Millennials will drive home design: Livable design features that appeal to both Millennials and Baby Boomers will be a focus in new construction. Homes will be designed to make living simple and comfortable – for example, with wide hallways that can accommodate both strollers and wheelchairs. • More entry-level homes: Builders will respond to the demand created by more first-time buyers entering the market and increase new construction of entry-level homes. Builders won’t ignore this hungry market, and we’ll start to see a rise in new construction at the more affordable end, instead of all the luxury buildings we’ve seen lately,” Gudell

said. “However, builders are also facing high costs, so instead of adding density in cities where zoning laws and land costs often preclude affordable building, we’ll see the suburbs grow and expand outward.” • Suburban sprawl will return: The suburbs will expand as the cost of land and construction reaches a tipping point in urban areas. Urban living is popular among those looking for close access to job centers and cultural amenities, but building costs and regulations will lead to increased development in the suburbs. • Home price growth will slow: Home prices will grow 4.1 percent, according to more than 100 housing experts and economists surveyed in the latest ZillowHome Price Expectations Survey. Home values are currently growing at 6.9 percent annually.

Walkability: Desire Varies Among the Generations It is no longer just Millennials propelling interest in walkable communities. According to a new report from the National Association of Realtors, members of the Greatest (or “Silent”) Generation, those born before 1944, also prefer smaller homes in neighborhoods with easy walks to shops and restaurants. The 2017 National Community and Transportation Preference Survey, which polled adults from across the U.S. about what they are looking for in a community, found that 62 percent of Millennials and 55 percent of the Silent Generation prefer walkable communities and short commutes, even if it means living in an apartment or townhouse. Gen-Xers and Baby Boomers still show a strong preference toward suburban living, with 55 percent of both groups saying that they have no problem with a longer commute and driving to amenities if it means living in a single-family, detached home.

PUBLISHER’S NOTICE EHO

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.” 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

“Realtors understand that when people buy a home, they are not just looking at the house, they are looking at the neighborhood and the community,” said NAR president Elizabeth Mendenhall, a sixth-generation Realtor from Columbia, Mo., and CEO of RE/MAX Boone Realty. “While the idea of the ‘perfect neighborhood’ is different for every homeowner, more Americans are expressing a desire to live in communities with access to public transit, shorter commutes and greater walkability,” Mendenhall said. According to the survey, the majority of Americans, 53 percent, would prefer to live in communities containing houses with small yards but within easy walking distance of the community’s amenities, as opposed to living in communities with houses that have large yards but they have to drive to all amenities. This up from 48 percent in 2015. However, responders with schoolage kids in the home, regardless of their generation, show a greater preference for conventional suburban communities. Sixty percent of all responders with

kids in school said they prefer larger homes and yards that require driving, and that number jumps to 63 percent for Millennials with kids in school. The survey also found that a majority of Americans, 88 percent, are very or somewhat satisfied with the quality of life in their communities, and 51 percent of those people believe that the walkability of their neighborhood contributes to that quality of life. The report found that women, particularly young women, prioritize walkability and public transit more than older or younger men. Fifty-four percent of young women said that sidewalks and places to take walks is a very important factor in deciding where to live, and 39 percent said the same about having public transit nearby. However, when it comes to a short commute to work, youth was a greater indicator of preference than gender; 49 percent of young women and 48 percent of young men said being within a short commute to work was a very important factor in deciding where to live. While 60 percent of adults surveyed live in detached, single-family homes,

21 percent of those respondents said they would rather live in an attached home and have greater walkability. Sixty percent of those surveyed also said that they would be willing to pay a little or a lot more to live within walking distance of parks, shops and restaurants. When selecting a new home, respondents indicated that they would like choices when it comes to their community’s transportation options. Eighty-six percent of survey participants said that sidewalks are a positive factor when purchasing a home, and 80 percent place importance on being within easy walking distance of places. When it comes to respondents’ thoughts on transportation priorities for the government, 73 percent indicated that maintaining and repairing roads and bridges should be a high priority, with expanding roads to help alleviate or reduce congestion as the next highest priority, at 54 percent. The survey of 3,000 adult Americans living in the 50 largest metropolitan areas was conducted by American Strategies and Meyers Research in September 2017.

Q&A: Managing Expectations of Sellers Continued from Page 20 Foster: “I find it uncommon to encounter a seller who is unrealistic regarding pricing. However, every so often there is one who thinks the market in Great Falls has recovered. When this happens, I educate them on the current conditions and I let them make the final decision. I

have never turned down a listing. I have, though, told a very few owners that I could not list their home at their desired price. In those situations they have listed with other Realtors, and eventually came back to work with me at a valid asking price.” Donna Moseley, TTR Sotheby’s International Realty: “We try to get an up

front agreement to reduce pricing within a predetermined time frame to a predetermined price. It is rare, but we do turn down some listings, not many. We do everything we can to get the property the best and highest price, staging, Internet presence, showings.”

THE SUN GAZETTE IS THE COMMUNITY’S SOURCE FOR REAL-ESTATE NEWS

26 | WINTER REAL ESTATE GUIDE | JANUARY 2018

JANUARY 2018 | WINTER REAL ESTATE GUIDE | 27

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28 | WINTER REAL ESTATE GUIDE | JANUARY 2018