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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

Hunting Crest 1635 ADMIRALS HILL COURT, VIENNA

INTERNATIONAL LLC

703.459.4141

4,500,000

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Reston

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11615 Quail Ridge Court

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10248 Brittenford Drive $1,100,000

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10202 Bushman Drive #211 Oakton

Experience and Service - Helping Home Buyers and Sellers for Over 40 Years!

Jenny McClintock

Bill Detty

Colleen Stoltz

SUMMER REAL ESTATE GUIDE | JUNE 2018

$750,000

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McLean

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Herndon

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1630 Maddux Lane

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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

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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

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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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Evermay Bradfi eld

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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.

Court McLean, McLean, VA VA22101 22101 1557 6303 22101 461841st 41st Street Street N. 6302Westmoreland Evermay Drive McLean, Street, McLean,VAVA22101 22101 5056Evermay KenersonDrive DriveMcLean, Fairfax, VAVA22032 4618 N. Arlington, Arlington,VA VA22207 22207 6802 6802Langley Langley Springs Springs Court Price- $1,885,000.00 Monthly Rent $4995.00 Price $1,380,000.00 Monthly Rent $5,400.00 Price - $899,000.00 Monthly Rent - $2,950.00 Price - $1,250,000.00 Price-in$1,885,000.00 Lovely Colonial great location of Langley Location, Lovely Colonial in convenient Evermay New Price!! Two traffic lights to DC, On a quiet location! Large, lovely three level to Split Great location..Great property. Walking distance Refreshed and just right! Lovely property in very Lovely Colonial in great McLean location. Elegant Springs. Elegant Great Room, library, open minutes to DC/Tysons/MD. Beautifully neighborhood largetoyard shows off in choice area of Evermay. Great storage area, New Price!! TwoStreet. traffic A lights DC, On a quiet shops, schools, Racquet club. Spacious well built two convenient area. New two car garage, new kitchen, Great Room, library, open kitchen, main level master, kitchen, main level master, large lower level, large maintained onbath, levelbiglotdeck, withculcircular this 5 bedrooms, bath home with off great room sizes, light/2016 bright. traditional style neighborhood Street.4.5 A large yard shows this level Rambler with large addition on back. New updated master de sac. drive. Metro, large lowerwith level,patio backyard two andwith pool,patio twoand carpool, garage. Soaring two story Family Room, new kitchen, and with no HOA! but has contemporary flair. 5 bedroom, 4.5schools bath home great schools and backyard kitchen, updated baths, nice hardwoods. House is airports,pentagon, shops, schools all close by...don’t car garage.Charming Charming gated entrance. Convenient to gated entrance. new baths, hardwoods, light and bright, roof no HOA! Extensive renovations. Must see! charming and well cared for. You will like this! miss! Call with any questions. LD restaurants. Tysons, Metro, airports, DC, shopping, is faux slate. O S

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JUNE 2018 | SUMMER REAL ESTATE GUIDE

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 4

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 lighting 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 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 dollar-

SUMMER REAL ESTATE GUIDE | JUNE 2018

for-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 handyman 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 Continued on Page 24

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

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

N.Va.: Cost Per Square Foot The Name Game: Some First Up in 2018 From Year Before Names Equal Pricier Homes 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 popular6

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.

SUMMER REAL ESTATE GUIDE | JUNE 2018

“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.

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.

740 Potomac River Rd, McLean, VA

3404 Waples Glen Court, Oakton, Va

Stunning 4BR, 3.5 BA brick colonial is nestled on a private wooded acre, near walking paths to the Great Falls National Park. The custom open floor plan features a stunning gourmet kitchen with stainless steel Wolf appliances, granite countertops and a built-in Miele coffee maker. Entertain in the separate dining room with an exquisite wet bar and wine cooler. Special details include hardwood floors, crown molding, gas and wood burning fireplaces and a large deck off the back of a bright sunroom, with a wall of windows overlooking trees. Au Paire suite over the garage with a private entrance. Minutes from 495.

Stately 4BR, 4.5 BA brick colonial conveniently located is a prime Oakton location, ideal for commuters. So many upgrades: roof, siding, gutters, fence, septic pump and french drains all installed in 2015. HVAC, dishwasher and refrigerator in 2016. Special details include hardwood floors, double crown molding, and a soaring 2-story family room with a gas fireplace. Enjoy the beautifully landscaped, fenced backyard on the expansive back deck or 3 season living in the fantastic screened-in porch. Great Oakton school pyramid.

Dave and JoAnne Adams Group

Dave & JoAnne Adams

REALTOR®, CDPE, SRES®, SRS.MRP

Cell: +1 (703) 963-4491 Dave@joanneadams.com www.JoAnneAdams.com Real Estate agents affiliated with Coldwell Banker are independent contractor agents and are not employees of the company. (c) 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. Owned by a subsidiary of NRT LLC. Coldwell Banker, the Coldwell Banker Logo, Coldwell Banker Global Luxury, and the Coldwell Banker Global Luxury Logo service marks registered or pending registration are owned by Coldwell Banker Real Estate LLC. ®

Information is deemed reliable but is not guaranteed. Equal housing opportunity.

11911 Freedom Dr. Ste 520, Reston, VA 20190 | office: 703-471-7220

JUNE 2018 | SUMMER REAL ESTATE GUIDE

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. 8

SUMMER REAL ESTATE GUIDE | JUNE 2018

Before you make your next move.™

“Dedicated, hard working, adaptable, honest and dependable are just a few of Susan’s attributes.” “Susan is the consummate real estate professional … She truly has the best interests of her clients in mind.”

Susan Wisely (703) 927-3126

www.ChooseWiselyGroup.com

V TI

R DE ACT N U TR ys! N a COin 4 D

1 ACRE LOT FOR SALE Listed by Susan Wisely 7843 Langley Ridge Road, McLean, VA

1 Acre Lot/Home Sold “As Is”: $1,197,000

LD s! SO0 Day

Listed by Susan Wisely 1226 Wild Hawthorn Way, Reston, VA 20194

Sold for: $535,500

www.6541PlacidSt.com Listed by Susan Wisely 6541 Placid Street, Falls Church, VA

Priced at: $1,675,000

LD SO

LD ! SO Days

Listed by Susan Wisely 3106 N. Taylor Street, Arlington, VA

Sold for: $2,400,000

LD SO

Listed by Susan Wisely 1289 Golden Eagle Drive, McLean, VA

Sold for: $849,750

Listed by Susan Wisely 11603 Auburn Grove Drive, Reston, VA

Sold for: $843,000

Choose Wisely Group, LLC, Owner Luxury Specialist REALTOR®, NVAR Lifetime Top Producer | Licensed in VA & DC | Relocation Certified Susan@ChooseWiselyGroup.com

Over $150 Million in Sales!

A member of the franchise system of BHH Affiliates, LLC. 8075 Leesburg Pike #720, McLean, VA 22182 • Office: 703-281-8500

JUNE 2018 | SUMMER REAL ESTATE GUIDE

Enjoy Sumptuousness Both Inside and Out

Hunting Crest Property Offers Exceptionality Inside ... Plus a Pool Area

eaturing more than 11,000 square feet of high-end interior space complemented by 2-plus acres of manicured grounds in the prestigious community of Hunting Crest, our featured property is a standout of elegant design with attention to detail throughout. Exceptional formal spaces are augmented by lovely family areas, while special architectural and design touches are found around every corner. Meanwhile, the exterior – envisioned by McHale Landscape Design – plays host to additional showplace amenities, from the pool and two-story poolhouse to the pavilion to the covered lanai. The result is a superb, dramatic home that is both elegant and warmhearted, ready to serve as the backdrop to a lavish soirée one day and for family fun and games the next. The property currently is on the market, listed at $4,500,000 by Lilian Jorgenson and Tom & Cindy and Associates of Long & Foster Real Estate. Our tour begins on the grand portico, reminiscent of estates from eras gone by, and we are then ushered inside the custom cut-glass double doors to begin our exploration. To our immediate right is the salon area, with intricate mouldings and access to the music room. To our left off the foyer is the formal dining room, which can accommodate a crowd but retains its intimacy. The kitchen area is a standout, both versatile and visually appealing, with a large center island and the right accoutrements to delight the serious chefs among us. An adjacent morning-dining area overlooks the pool, while the adjoining sun room is a delight. The two-story Great Room lives up to its name with an architectural window wall and stunning fireplace, and there is access to the terrace deck. Tucked away in a sea of tranquility is the Admiral’s Library, richly detailed with special paneling, moulding and wainscoting. Whether you’re writing the Great American Novel or reading one, this is the space for you. Up the stunning staircase we go (the landing provides another glorious view over the pool area), and our first stop on the second level is the sumptuous mas-

ter retreat, occupying an entire wing of the home. In addition to the bedroom area with tray ceiling, there is a turreted sitting room which provides access to a private terrace. The master bath is a study in sumptuousness, and there are two walk-in closets, including one an astounding 24 feet deep. Three additional bedrooms suites are found here, and there are wonderful overlooks with vistas of the foyer and Great Room. Many more features await in the walk-out lower level, starting with a club room that features a card lounge, bar area and access to the covered lanai for indoor-outdoor living. This level also is home a tiered theater, gym, sauna, wine cellar, fifth bedroom, bonus room and plentiful stor-

age. The glorious rear yard, as mentioned earlier, features a lovely pool, spa and expansive poolhouse. There also is a formal garden (with sculpture niches) and outdoor-dining area. Two garages provide space for five vehicles plus storage. Lively and lush inside and out, our featured estate is a visual showstopper ready for you to make it your own. The time is right! 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: 1635 Admirals Hill Court, Vienna (22182). Listed at: $4,500,000 by Lilian Jorgenson and Tom & Cindy and Associates, Long & Foster Real Estate (703) 759-1990. Schools: Sunrise Valley Elementary, Langston Hughes Middle, South Lakes High School.

Selling * Buying * Renting Ranked in the Top 250 NATIONWIDE in REAL Trends

Sold more than 2,100 homes for a dollar volume more than $1.50 Billion dollars!

Over 30 years of real estate experience. McLean 703-790-1990

SUMMER REAL ESTATE GUIDE | JUNE 2018

703-407-0766

www.Lilian.com

Coming Soon in Hunting Crest 1678 Hunting Crest Way, Oakton, VA - $3,300,000 GREAT FALLS

$1,429,000

GREAT FALLS

JUST LISTED! MCLEAN

$2,500,000

COMING SOON! GREAT FALLS

$1,650,000

$1,350,000

RENTAL

$7,500

COMING SOON! VIENNA

$1,549,000

$1,399,000

MCLEAN

$2,790,000

PRIVATE 2 ACRE LOT! OAKTON

$1,549,000

OAKTON

$969,000

INCREDIBLE NEW PRICE! VIENNA

$2,495,000

IN MAYMONT! OAKTON

$1,439,000

IN HANNAH HILLS

ALMOST 2 ACRE LOT! ALEXANDRIA

$1,149,000

JUST LISTED!

JUST LISTED! VIENNA

OAKTON

VIENNA

$1,385,000

VIENNA

$1,299,000

GREAT FALLS

$1,125,000

NEW CONSTRUCTION!

McLean Sales Office, 1355 Beverly Road, Suite 109 * 703-790-1990

JUNE 2018 | SUMMER REAL ESTATE GUIDE

Haru Wladyka Joyce Becker Life Member NVAR 703.855.4498 Ann Multi-Million Dollar Multi-Million Dollar THE placeRomer to be. With the new Fairfax Hospital complex in development, harurealtor@gmail.com

Haru Wladyka 703.855.4498 703.855.4498 Claire Driscoll harurealtor@gmail.com

harurealtor@gmail.com Life Member, www.harurealtor.com www.harurealtor.com NVAR Top Producer 703.447.3555 Claire@clairedriscoll.com

703.597.4289 Sales Club

Sales Club www.harurealtor.com continued growth is almost a guarantee. Rltrann@aol.com 571.217.3814 571.217.3814 TheRomerTeam.com joyce@beckerj.com joyce@beckerj.com

COMING COMING SOON SOON

The $729,000 The Palladium Palladium Condo, Condo, McLean McLean $729,000 Welcome Welcome to to the the convenience convenience of of living living the the condo condo lifestyle lifestyle inin the the heart heart of of Arlington Lee2.5BA Heights, Land $1,195,000 Mclean && Den Mclean •• 22 BR, BR, 2.5BA Den •• Balcony Balcony •• 22 Garage Garage Spaces Spaces with with easy easy

8047 Drive, Warrenton $685,000 The Palladium Condo, McLean 8047 Side Side Hill Hill Drive, Warrenton $685,000 $729,000 Spectacular Style -- 44 BRs, 33of½ BAs, Sides Brick Welcome toHome the convenience living the33condo Spectacular Executive Executive Style Home BRs, ½ BAs, Sides lifestyle Brick in the heart of Haru Wladyka Fairfax Station $799,900 Over levels. Dramatic Entrance Foyer. Mclean on •on233BR, 2.5BA & Den 2-story •2-story Balcony • 2 Garage Spaces with easy Over 5,000 5,000 sfsf finished finished levels. Dramatic Entrance Foyer. This all brick custom cape offers a circular drive and overlooks 6 gorgeous Build Your Dream 703.855.4498 access to unit Enjoy Sun-filled towering ceilings, granite and access to the unit • Enjoy Luxurious Story Lobby W/Concierge, Fitness access to the the unit ••Home. Enjoy Luxurious Luxurious 22 Story Story Lobby LobbyW/Concierge, W/Concierge,Fitness Fitness Sun-filledrooms, rooms,hardwoods, hardwoods, towering ceilings, granite2counters counters andlarge large acres zoned for horses. A 4 car • garage, 5 BR’s, 4 BA’s, 4 fpls and 3 • onSelling •kitchen, Title Insurance Rarely level&&14,890 Lot quietMusic side street popular close Room, Party Room Library Series Cozy Unit W/ island”. Chef’s Morning Rm, Great Rm, Theater Rm and so much Room, Party Room & Library • Summertime Music Series • Cozy Unit W/ Room,available PartyBuying Room Library •SF • Summertime Summertime Music Seriesin••• CozyMortgage Unit W/ island”. Chef’s kitchen, Morning Rm, Great Rm, Theater Rm and so much harurealtor@gmail.com lvls of hardwood enhance this well-built home. The charming breakfast inLower areaTax feeding to Taylor/Yorktown Lower &&Condo Fee, more. Abbey Home ininJAMISON’S FARM. Lower Tax & Condo Fee,plus Must Seeis!!a main level master Tax Condo Fee,Must MustSee See!!!!schools. Pictured home is a 4 BR more.AADownton Downton Abbey Home JAMISON’S FARM. area/family room has exposed brick walls there 2Ba Tudor Cape Cod in need of repairs but could be remodelled and www.harurealtor.com bedroom. The walkout lower level exits to the pool & heated spa. Minutes expanded. Marianne to George Mason inRomer the mostAnn bucolic setting!! Ann Ann Barb Bubel Driscoll • Claire Dris Romer Buying • SellingClaire Mo • • • • Buying Selling Mortgage Title Insurance

#1 Companywide for Total Dollar Volume

Barbara Farmer 703.597.4289 Barbara Farmer Romer 703.597.4289 Rltrann@aol.com 571.213.7500 CRS, GRI, ABR 703.597.4289 571.213.7500

Sipple

Life Member, 703.827.BARB NVAR Top Producer NVAR Mult-Million Dollar Club 703.200.2681 LIfe Member/Top Producer Marianne@SippleRealEstate.com 703.447.3555 703.774.5010 Top 5% ofClaire@clairedriscoll.com Realtors Nationwide www.SippleRealEstate.com 703-966-8675 info@spollengroup.com Life Member, houses@bubel.com SOLD SOLD

Barb Spollen Claire Driscoll

Arlington Lee Heights,NVAR Land Top Producer

Life Member NVAR Top Prod 703.447.355 Claire@clairedrisco

The Palladium Condo, McLean Claire Driscoll

RltrAnn@aol.com TheRomerTeam.com CRS, GRI, ABR barbcleo@aol.com barbcleo@aol.com TheRomerTeam.com RltrAnn@aol.com TheRomerTeam.com Welcome to the convenience of living Life Member,

Ann Romer

$1,195,000

703.597.4289

$729,000

the condo lifestyle in the heart of

JUST LISTED NVAR Arlington Leewith Heights, Fairfax Mclean Station $799,90 • 2 Rltrann@aol.com BR, 2.5BA & Top Den Producer • Balcony • 2 Garage Spaces easy L

This all brick custom cape offers a circular drive and overlooks 6 gorgeo

Build Your Dream Home. Build Your Dream Home. 703.447.3555 TheRomerTeam.com FALLS HILLBhavin 703.447.3555 Bo-Yeon Downsizing? Walney Village, Chantilly $4$434,500 4car 3Downsizing? 4,5garage, 00 2 Story5$799,900 access to the unit •AEnjoy Luxurious Lobby W/Concierge, Fitness Bo-Yeon Bhavin Bo-Yeon Downsizing? Bhavin Walney Village, Chantilly acres zoned for horses. BR’s, 4 BA’s, fpls SF and ........... Picture Perfect ....... SF Lot Fairfax Rarely available level 14,890 on quiet side street in popular close Station Rarely available level414,890 L Fountains of McLean $255,000 Claire@clairedriscoll.com Vienna/Tysons $874,900 lvls of hardwood enhance this well-built home. The charming breakf Splendid 3 bedroom, 2 1/2 bath end-unit townhouse Claire@clairedriscoll.com Splendid 3 bedroom, 2 E. 1/2 bath end-unit townhouse We can Help! Get your FREE Templer Shah 404 Jefferson, Falls Church City Get your We can Help! FREE We can Help! Get your FREE Room, Party Room & Library • Summertime Music Series • Cozy Unit W/ Templer Shah in area feeding to Taylor/Yorktown schools. Pictured home is a 4 BR in area feeding to Taylor/Yorktow Templer Shah Merrifield & the Mosaic District Joan Susie New Price!! area/family room has exposed brick walls plus there is a main level mas surrounded by open common land with huge trees. This home is certainly SPECIAL! Not only was it METICULOUSLY cared by its surrounded open common landtowith huge trees. 1504 Lincoln Way #205. Sun drenched bedroom/1bath in Report the heart offor Tysons. Thisand colonial split featuresbya family room open an updated kitchen and NEW 2Ba Tudor Cape Cod in1need ofProperty repairs but could be 2Ba Cape Cod in need of Before you Property Report Before you Tudor 703.405.7480 Property Report Before you remodelled $1,495,000 bedroom. The walkout lower exits the pool & heated spa. Minu 703.405.7480 202.568.0355 703.405.7480 202.568.0355 Large open flexible main level floor plan with lightLower Tax &custom, Condo Fee, Must See !! to Large open flexible main level floor plan withThe lightLet me help you more about this area!202.568.0355 We$1,195,000 specialize Arlington Lee Heights, Land A circular drive welcomes guests to this all level brick beauty on Larcamp 6suite acres. owners,expanded. but it is located on almost a 3/4 acre cullearn de sac landscaped lotdeveloping ~ Glass Updated kitchen with stainless steel and granite counters. Newly redone hardwood Sellers wide-plank hardwood in the living rm, library &most family rm. master includes$799,900 a $1,195,00 Arlington Lee Heights, Land to George Mason in the bucolic setting!! Fairfax Station 4 Bedroom, 4.5 Bath, with plantation shutters, Speak with a Builder. Speak with a Builder.expanded. filled living/great room & dining area. Kitchen has oak Speak with a Builder.

filled living/great room &5dining area. Kitchen has& porch. oak in the “most happening” area inPark Northern Virginia Near Hardwood 3Member, lvls, updated BA’s, BR’s, 4 car gar, pool spa enhance enclosedand three season porch overlooks outdoor lover’s gates. paradise ~ Top the line – Merrifield VA. flooring fresh paint. Garage parking with security likeofsetting! Build Your Dream Home. Life NVAR sitting area,on walk-in closet updated bath. FAB screened Call forthis details! hardwoods, stainless steel 703.848.5441 This alland brick custom cape offers awith circular drive and overlooks Build Your Dream Home. cabinetry, S/S appliances && adjoining family gas fireplace. Master cabinetry, S/S appliances adjoining familytop-of-the-line with gaslog log fireplace. Master 6 gorgeous the Dunn Loring Metro, Tysons Corner and major commuter routes it is home. charming Zoned for horses too!! appliances, skylights, silk4chandelier. Pristine updates & renovations throughout ~ Huge detached two car garage. HAPPY BUYERS! ShahAndTempler@gmail.com EXCELLENT LOCATION! Top Producer ShahAndTempler@gmail.com ShahAndTempler@gmail.com acres zoned for horses. A car garage, 5 BR’s, 4 side BA’s, 4 fpls and 3 clos Rarely available level 14,890 SF Lot on quiet street in popular slarcamp@ bedroom suite features a sky-lit luxury master bath. And much more! bedroom suite features a sky-lit luxury master bath. And much more! Rarely available level 14,890 SF Lot on quiet side street in popular close setting on beautiful cul-de-sac, with almost THE place toSpollen be. With the new Fairfax Hospital complex in development, Barb Barb 703.862.5626 lvls of hardwood enhance this well-built home. The charming breakfast in area feeding to Taylor/Yorktown schools. Pictured home is aSpol 4 B weichert.com 1/3 acre, in the heart of Falls Church City. in continued area703.774.5010 feeding growthtois Taylor/Yorktown almost a guarantee.schools. Pictured home is a 4 BR area/family room has exposed brick therebut is acould main be level master 703.774.501 sellerstwo@aol.com New roof, HVAC, sprinkler system in walls 2013 of . plus 2Ba Tudor Cape Cod in need repairs remodelled an 2Ba Tudor Cape Cod in need of repairs but could be remodelled and bedroom. The walkout lower level exits to the pool & heated spa. info@spollengroup Minutes info@spollengroup.com Claire Pat Derwinski Barbara Ann Barbara Ann expanded. expanded. • •to George Mason in the most bucolic • setting!! •

Buying Selling Mortgage McLean || 703.760.8880 McLean Office Office 703.760.8880 Farmer Farmer

Driscoll

Chairman of the Board #2 Producer, Company-Wide FALLS HILL 703.447.3555 703-615-0116 703.855.4498 GRI, CRS (C) patderwinski@hotmail.com Merrifield &1313 theDolley Mosaic District Blvd Life Member NVAR Madison

Haru Wladyka Barb Spollen 1313 Dolley Madison Blvd Driscoll harurealtor@gmail.com Claire 703.774.5010 Dollar Club about help Multi youMillion learn more this developing area!

Title McLeanInsuran Office | 7

Joyce ABR, GRI Becker 571.213.7500 Life Member NVAR 571-213-7500 Barb Spollen barbcleo@aol.com 404 E. Jefferson, Falls Church City BarbCleo@aol.com Joan Merrifield & theSusie Mosaic Multi-Million Dollar 703.774.5010 ABR, SRES, GRI Madison 1313 Dolley Blvd Romer $1,495,000 Ann MyMy Personalized Service is the Personalized Service is Let me help you learn more abou Sales Club OPEN HOUSE

Let me We specialize Larcam McLean, RR EE AA L L T T OOR RSSellers info@spollengroup.com McLean, VA 22101 R E A L T McLean, VA VA 22101 22101 www.harurealtor.com S 4 Bedroom, 4.5 Bath, with plantation 703.597.4289 shutters, Life Member, Keystone to Your Your Satisfaction Satisfaction the Key to FEB 18TH 1-4 PM in the “mostClaire@Clairedriscoll.com happening” areainfo@spollengroup.com in Northern Virginia – Merrifield VA. Near in the “most happening” area in Life Member, NVAR 571.217.3814 hardwoods, stainless steel top-of-the-line 703.848.54 COMING SOON Rltrann@aol.com NVAR Top Producer the Dunn Loring Metro, Tysons Corner and major commuter routes it is thePristine Dunn Loring Metro, Tysons C appliances, skylights, silk chandelier. Top Producer slarcamp@ joyce@beckerj.com setting on beautiful cul-de-sac, with almost TheRomerTeam.com THE place to be. With the new Fairfax Hospital THE place toHILL be. With the new Fa COMINGcomplex SOON in development, 703.447.3555 703.862.5626 FALLS weichert.com acre, in the heart of Falls Church City. continued growthThe is almost a guarantee. continued growth is almost a guar Palladium Condo, McLean FALLS HILL $729,000 8047 Side Hill Drive, 1/3 Warrenton $685,000 sellerstwo@aol.com New roof, HVAC, sprinkler system in 2013 .

Falls Church City McLean

For Rent $3300

Stonehurst -- Fairfax $$269,500 489,500 Bhavin PRICE REDUCED—North ArlingtonDownsizing? Bo-Yeon

Claire@clairedriscoll.com Wonderful 3 bedroom, 3 1/2 bath all brick townhome in sought-after Stonehurst community. 502 W. Broad St Penthouse Unit 404 Falls Church Cityarea. Welcome to the convenience ofthis living the condo lifestyle heart of 2 living Spectacular Executive Stylehas Home -Jefferson, 4 BRs, 3Help! ½ to BAs, Sides Brick Susie Merrifield & E. the Mosaic District Corner bedroom, 1/2 bath light-filled condo, with 1,000 sq. ft. of 3 living Stoneleigh Townhouse. Walk to shops and restaurants from conveniently locatedin the Spacious & the Mosaic District Joan room. 1Formal dining room French doors leading lovely landscaped We can Get your FREE Stunning Penthouse With 3Merrifield Bedrooms And 3.5 Baths. Third Bedroom Optional Mclean • 2 BR, 2.5BA & Den • Balcony • 2 Garage Spaces with easy Overpatio. 5,000 sf Let finished on 3 you levels. Dramatic 2-story Entrance Foyer. Renovated kitchen features maple cabinets, S/S appliances, granite countertops & area! We specializ me help learn more about this developing $1,495,000 3 BR 3 Rm/Den. ½ BA endUnit unit townhouse with over 2146 SF. Updated kitchen, recently Arlington Lee Heights, Land $1,195,000 Fairfax Station brick Georgetown Eat-in kitchen features oak cabinetry & silestone countertops. Oak Media Faces Landscaped Courtyard. Fireplace..High Ceilings.. Let me helpWladyka you learn more about this developing area! We specialize Haru Joyce Becker Haru Wlad Sellers Larcamp Property Report Before yoularge access tolandscaped theParking..Call unit • Enjoy Luxurious 2 Story Lobby Fitness Sun-filled hardwoods, towering ceilings, granite and lots more.floors. Baths alsorooms, renovated. Close to restaurants &NVAR within acounters mile of Metro. 4 Bedroom, 4.5 Bath, with shutters, 703.405.7480 in thebedroom “most happening” area inplantation Northern Virginia – 202.568.0355 Merrifield VA. Ne refinished floors, charming garden. August 1. W/Concierge, hardwood Flexibility for legal on lower level. Backs to several blocks of Light And hardwood Bright..Large Balcony..Garage PatAvailable Derwinski For Complete This all brick custom cape offers a 703.855.449 circular Build Your Dream Home. Life Member in the 703.855.4498 “most happening” area in Northern Virginia – Merrifield VA. Near Life Member, NVAR hardwoods, stainless steel top-of-the-line 703.848.5441 Room, Party Room & Library • Summertime Music Series • Cozy Unit W/ island”. Chef’s kitchen, Morning Rm, Great Rm, Theater Rm and so much Call me to arrange to see this wonderful Yorktown Condo! the Dunn Loring Metro, Tysons Corner and major commuter routes it acres zoned for horses. A 4 car garage grassy area. Walk to Vienna Metro. Call me for a showing or with questions Details--Cell: 703-615-0116. Multi-Million Dollar Speak a Builder. the Dunn Loring Metro, Tysons Corner and major commuter routes it is popular appliances, skylights, silk with chandelier. Pristine harurealtor@gmail.com harurealtor@gma Rarely available level 14,890 close Top Producer slarcamp@ Lower Tax & Condo Fee, Must SeeSF !! Lot on quiet side street in more. A Downton Abbey Home in JAMISON’S FARM. lvls hardwood enhance thisin well-built THE place tosetting be. With the new Fairfax Hospital developmen on of beautiful cul-de-sac, with almost complex Sales Club THE place to be. the new Fairfax Hospital complex Pictured in development, Claire Driscoll in area feeding toWith Taylor/Yorktown schools. home is a 4 BR www.harurealtor.com www.harurealtor Ann Romer 703.862.5626 weichert.com area/family room hasCity. exposed brick walls 1/3 acre, the heart of Falls Church continued growth is in almost a guarantee. 571.217.3814 703.597.4289 Life Member, continued growth Cod is almost guarantee. 2Ba Tudor Cape in aneed of repairs but could be remodelled and Raff ShahAndTempler@gmail.com COMING SOON sellerstwo@aol.com New roof, HVAC, sprinkler system in 2013 . lower bedroom. The walkout level exits to Dena Conrad Blanche Claudette Cecelia joyce@beckerj.com Rltrann@aol.com NVAR Top Producer expanded. to George Mason in the most bucolic sett MBA,CIPS Schwartz 703.447.3555 The Palladium Condo, McLean Licensed in VA & MD

Templer

$729,000

Shah

Barbara Farmer BUILD YOUR Lofton 8047 Side Hill Drive, Warrenton The Palladium $685,00 Condo,

TheRomerTeam.com Certified Buyer’s Agent

Licensed MD, DC,571.213.7500 & VA Haru Wladyka 703.309.HOME (4663) Claire@clairedriscoll.com 703.508.3968 Haru Joyce Becker Welcome to the of livingWladyka the condo lifestyle in the heart of Spectacular Executive Style Home - 4 BRs, Welcome 3 ½ BAs, 3 Sides ofBl to the convenience cell: convenience 703.438.1960 202-365-1575 C DREAM HOME ABR,GRI GRI, SRES barbcleo@aol.com Spollen Mclean •www.denaconradrealestate.com 2 BR, 2.5BA & Den Barb • Balcony • 2 Garage Spaces with easy Over 5,000 sf finished on 703.855.4498 3 NVAR levels. Dramatic 2-story Mclean • 2 BR,Entrance 2.5BA & DenFoy •B Life Member Fairfax Station $799,900 703.855.4498 703-760-8880 O Life Member, Lee Heights, Arlington Land $1,195,000

McLean Office |

HERE!

cecelialofton2@outlook.com access to the unit • Enjoy Luxurious 2 Story Lobby W/Concierge, This Fitness Sun-filled rooms, hardwoods, towering ceilings,access granite counters la to the unit • Enjoyand Luxuriou all brick custom cape offers a circular drive and overlooks 6 gorgeous harurealtor@gmail.com denahconrad@gmail.com www.raffrealestate.com 703.774.5010 Multi-Million Dollar NVARBuild Top Your Producer harurealtor@gmail.com Dream • Home. acres zoned A 4 car Chef’s garage, 5 kitchen, BR’s, 4 BA’s,Morning 4 fpls and 3Rm, Great Rm,Room, Room, Party Room & Library Summertime Music Series • Cozy Unit W/ for horses. island”. Theater Rm and so• mu Party Room & Library Sum blaraff@aol.com www.harurealtor.com UNDER CONTRACT info@spollengroup.com Sales Club homeccs@aol.com lvls of hardwood enhance this A well-built home. The charming breakfastin JAMISON’S FARM. Rarely available level 14,890 www.harurealtor.com Lower Tax & Condo Fee, Must See SF !! Lot on quiet side street in popular close more. Downton Abbey Home Lower Tax & Condo Fee, Must See area/family room has exposed brick walls plus there is a 571.217.3814 main level master www.claudetteschwartz.com in area feeding to Taylor/Yorktown schools. Pictured home is a 4 BR bedroom. The walkout lower level exits to the pool & heated spa. Minutes

COMING SOON

2Ba Tudor Cape Cod in need of repairs but could be remodelled andBhavin joyce@beckerj.com Bo-Yeon Walney Village, $434,500 3036 Cedarwood Lane, Falls ChurchDownsizing? $875,000 $450,000 toMiddleburg George Mason in the most bucolic setting!!Chantilly HILL expanded. Reston $634,900FALLS McLean **COMING SOON** Splendid 3 bedroom, 2 1/2 bath end-unitCondo, townhouse The Palladium McLean $729,00 Barbara Farmer We can Help! McLean Get your FREE Templer Shah Perfect Lot 1313 Dolley Madison Blvd The Palladium Condo, $729,000 8047 Side Hill Drive, Warrenton $685,000 surrounded by open common landconvenience with huge trees. Gorgeous designer touches backing to woods 404 E.lifestyle Jefferson, 571.213.7500 Welcome to the of living the condo in the Falls heart Property Report Before you Merrifield & the Mosaic District Joan 703.405.7480 202.568.0355 Welcome to the convenience of living themaster condosuites, lifestyle inBuild the heart of Spectacular Executive Style Home -road 4 BRs, 3 ½ BAs,easy 3 Sides Brick your dream on this gorgeous ac. lot. Rt. 50 lightfrontage insures Selling Soon? Largehome open flexible main level9+floor plan with From the black Morgan granite in the chef’s kitchen to the two fabulous Barb Spollen McLean, VA 22101 R E A L eas T $1,495,00 barbcleo@aol.com Mclean • 2 BR, 2.5BA & Den • Balcony • 2 Garage Spaces with 1/2 acre building lot *** on quiet street *** Speak with a Builder. Let me help you learn more about this developing area! We specialize filled living/great room & dining area. Kitchen has oak Mclean • 2 BR, 2.5BA & Den • Balcony • 2 Garage Spaces with easy Over 5,000 sf finished on 3 levels. Dramatic 2-story Entrance Foyer. access in all weather conditions. Gently rolling Sellers terrain provides ideal building site. you will fall in love with your new 3BR/3.5BA townhome. 703.774.5010 The multiple private decks, 4 Bedroom, 4.5 Bath, with pla access to the unit • Enjoy Luxurious 2 Story Lobby W/Concierge, Fitnes

Let’s Talk About Your Plans

just minutes to D. C.

cabinetry, S/S appliances &hardwoods, adjoining family with gas log fireplace. Master theaccess happening” area in Northern Virginia – for Merrifield VA. Near to coffee the unitand • Enjoy Luxurious 2 Story Lobby W/Concierge, Fitness Sun-filled rooms, POSSIBLE. towering ceilings, granite counters stainless and large steel front and back, arein perfect for“most a quiet croissant or a neighborhood party. Percs 4 BR. OWNER FINANCING info@spollengroup.com Life Member, NVAR hardwoods, ShahAndTempler@gmail.com Room, & Library •Great Summertime Music • Cozy UnitchW bedroom suite features sky-litRoom luxury master bath. And Rm, muchTheater more! SOLD the Dunn Loring Metro, Tysons Corner and major commuter routes it isaParty Too many upgrades to list, call now for info and plans. Room, Party Room &floor Library • Summertime Music Series • Cozy Unit W/ island”. Chef’s kitchen, Morning Rm, RmSeries and so muchsilk appliances, skylights, Top Producer Lower Tax & Condo Fee, Must See !! FALLS HILL setting on beautiful cul-de-s THE place to be. With the new Fairfax Hospital complex in development, Lower Tax & Condo Fee, Must See !! more. A Downton Abbey Home in JAMISON’S FARM. 703.862.5626 1/3 Bo-Yeon Downsizing? Bhavin Walney Village,sellerstwo@aol.com Chantilly $434 ,Bo-Yeon 5acre, 00 in the heart of Fa continued growth is almost a guarantee. New roof, HVAC, sprinkler sy Susie 404 E. Jefferson, Falls Church City “HARU” Wladyka Kim Sharifi Dawn & Mimi Splendid 3 Kim bedroom, 2 1/2 bath end-unit townhouse We can Get your FREE We can Help & theHelp! Mosaic District Templer Merrifield ShahJoan Templer surrounded trees. Larcampland with huge 703.405.7480 $1,495,000 Jones Lifetime by Top open Producercommon LetMember meProperty help you learn Report more about Before this developing area! We specialize you Property Re 703.405.7480 Life 202.568.0355 Sellers Sharifi Large open flexible main level floor plan with lightBarbara Farmer 4 Bedroom, 4.5 Bath, with plantation shutters, 703.848.5441 703.517.2800 NVAR 703-216-0454 inTop the Producer “mostSpeak happening” with area in a Northern Virginia – Merrifield VA. Near Life Member, NVAR hardwoods, Builder. stainless steel top-of-the-line filled living/great room & dining area. Kitchen has oak Haru Wladyka Joyce Becker 703.216.0454 slarcamp@ 571.213.7500 the Dunn Loring Metro, Tysons Corner and major commuter routes it is kimsharifi@hotmail.com appliances, skylights, silk chandelier. Pristine 703.268.0364 703-855-4498 Top Producer cabinetry, S/S appliances & adjoining family with gas log fireplace. Mas Lifetime Topwith Producer setting on beautiful cul-de-sac, almost Life Member NVAR weichert.com 703.855.4498 ShahAndTempler@gmail.com THE place to be. Madison With the new Fairfax Hospital complex in development, 703.862.5626 1313 Dolley Blvd dawnjonesteam@gmail.com harurealtor@gmail.com bedroom suite features abarbcleo@aol.com sky-lit luxury master bath. And much ShahAndTem more! 1/3 acre, in the heart of Falls Church City. kimsharifi@hotmail.com growth is harurealtor@gmail.com almost a guarantee. Multi-Million Dollar sellerstwo@aol.com Best Mothercontinued and Daughter-n-law New roof, HVAC, sprinkler system in 2013 . McLean, VA 22101 R E A L T O R S Team. Recommended by Sales Club www.harurealtor.com MOVE IN READY LIKE NEW! Washington Post Readership 571.217.3814 Haru Wladyka Joyce Becker Lifetime Top Producer joyce@beckerj.com Member NVARBo-Yeon McLean $729,000 703.855.4498 AURORALifeHILLS.....ARLINGTON Downsizing? Bhavin

McLean Office | 703.760.8880 ®

McLean Office | 703.760.8880

Bo-Yeonharurealtor@gmail.com Downsizing? $1,449,000 The Templer PalladiumWeCondo, McLean The Palladium Condo can Help! Get your FREE www.harurealtor.com 1313 Dolley Madison Blvd Gorgeous home w/nearly 6,000 sq. ft. Like new - Built in 2015. ML BR w/FBa. McLean

McLean $1,100,000 Bhavin Walney Village, Chantilly $434,500 Don’t let the modestMulti-Million exterior fool Dollar you! This charming mid-century modern home We can Help! Get your FREE Warrent $729,000 8047 Side Hill Drive, Templer Shah Splendid 3 bedroom, 2 1/2 bath end-unit townhouse has been completely remodeled! New kitchen, baths, hardwood floors, carpetClub Shah windows!Sales 1313 Fantastic home located minutes tocommon DC! 4 bedroom, 3 full baths. NicelyDolley Madison Blvd surrounded by huge trees. ing, AndersonMcLean Freshly painted with threeopen spacious bedrooms, 2land baths. with COMING SOON

Property Report Before Style you Welcome convenience of living condo lifestyle in571.217.3814 the heart of Spectacular Executive Home - 4 703.405.7480 202.568.0355 Welcome To The Condo Lifestyle Into Thethe Heart Of McLean * 2BR, 2.5BA & Denthe * Property Report Before you 703.405.7480 202.568.0355 Living has aT vaulted ceiling a full wallflexible of windows overlooking Crystal McLean, VA 22101 McLean, R updated E room A L Obaths, R with Swith Large open main levelnew floor plan with lightkitchen, gleaming hardwood floors, roof/gutters, light-filled Gourmet has breakfast space large w/coffered ceiling & fireplace. joyce@beckerj.com Mclean • &2opens BR,to2.5BA &* Den • Balcony Spaces easy Over 5,000 sf finished onVA322101 levels. Dra Balcony *Kit. 2 Garage Spaces W/ Easy Access To TheFR Unit Gorgeous Lobby W/ • 2 Garage Speak with a Builder. City! Private balcony off of filled living room. Lower levelroom has private rear entrance/ Speak with a Builder. living/great & dining area. Kitchen has oak W/o to patioGym, for BBQs. Luxurious Master Ste. Hdwds -2 lvls. 6BRs, 5.5 Bas. Easy sunroom, garage, carport, and loads of storage! Over 1/3 acre on cul-de-sac. Concierge, Party Room The &to Library Cozy Unit W/Lower Tax & Condo * access the* unit • Enjoy Luxurious 2Fee Story Lobby W/Concierge, Fitness Sun-filled access. GarageHill too! Drive, One mile Warrenton to either Pentagon City or Crystal City metro. rooms, hardwoods, towering ce Palladium Condo, McLean $729,000 8047 Side $685,000 cabinetry, S/S appliances & adjoining family with gas log fireplace. Master ShahAndTempler@gmail.com Commute! Langley HS. Priced ~ $850,000. House planned forW/ 2/18 3 2-4pm. 921 26th Place, S.Chef’s kitchen, Morning Rm, Grea Must See !! Room, Welcome PartytoRoom & ShahAndTempler@gmail.com Library Summertime Series •Open Cozy Unit island”. the convenience of living the•condo lifestyle in the heart Music of Spectacular Executive Style Home - 4suite BRs, ½ BAs, Sides Brick bedroom features a3 sky-lit luxury master bath. And much more! • 2 Condo BR, 2.5BA & Fee, Den • Balcony • 2See Garage !! Spaces with easy Over 5,000 sf finished on 3 levels. Dramatic 2-story more. Entrance Foyer. Lower Mclean Tax & Must A Downton Abbey Home in JAMISO ®

access to the unit • Enjoy Luxurious 2 Story Lobby W/Concierge, Fitness

Sun-filled rooms, hardwoods, towering ceilings, granite counters and large

DebbieDebbie Schweinhaut Room, Party Room & Library • Summertime Music Series • Cozy Unit W/ island”. Chef’s kitchen, Claudette Morning Rm, Great Rm, Theater Rm and so much Schwartz Lower Tax & Condo Fee, Must See !! A Downton Abbey Home in JAMISON’S FARM. GRI, ASP ABR,GRI Schweinhaut McLeanmore. Office | 703.760.8880 dschweinhaut@gmail.com 703.675.1253 Cell: 703.675.1253 GRI, ASP 1313 Dolley Madison dschweinhaut@gmail.com

Blvd



McLean, VA 22101

Life Member, NVAR Top Producer Barbara Farmer 7031313 309 HOME (4663) Madison Dolley 571.213.7500 homeccs@aol.com  barbcleo@aol.com VA 22101 R E A L T www.claudetteschwartz.com O R McLean, S 

Blvd

McLean Office Barbara Farm

571.213.7500 barbcleo@aol.co

R E A

UNDER CONTRACT IN 5 DAYS AND SOLD

SOLD



COMING SOON….MADISON LANE….FALLS CHURCH “COMING SOON IN STERLING” Under $500,000  Bo-Yeon Downsizing? Bhavin Walney Village, Chantilly $ Bo-Yeon Downsizing? Bhavin Walney Village, Chantilly $ 4 3 4 , 5 0 0 Colonial with large rooms on a townhouse Premium lot Splendid 3 bedroom, 2 1/2 bath end-unit We can Help!can Get your FREE Get Templer Shah We Help! your FREE Vienna Templer Shah Splendid 3 bedroom, 2 1/2 bath end-unit End unit TH with garage, deck and lower level patio. Best location in Madison Lane surrounded by open common land with Property Report Before you

surrounded by open common land with huge trees. 703.405.7480 202.568.0355 Property Report Before you 703.405.7480 202.568.0355 for privacy. 3 Bedroom, 2 full baths, 2 half baths, silestone, backsplash, SS appli* Garage * Cul-DeGreat Room * Family main Room * level floor plan Large Dining open flexible Large open flexible main Sac level *floor planLocation with light- * Separate Looking for an affordable home in Vienna? It is coming! 4 BR, 3 full baths, hardwood Speak with a Builder. Fireplace * Kitchen space forKitchen tablehas * Large room * Lots of Storage Speak with a Builder. ances, hardwoods main level, new HVAC and water heater. Call for more informafilled living/great room & dining area. oak living filled living/great room & dining area. Kitch floors, new carpet, freshly painted, great patio, ShahAndTempler@gmail.com sun room, 2 car garage and in a great cabinetry, S/S appliances adjoining family gas log fireplace. Master S/S appliances & adjoining fam Let Claudette Open&the Doors forwith You! cabinetry, tion location. bedroom suite features a sky-lit luxury master bath. And much more! ShahAndTempler@gmail.com bedroom suite features a sky-lit luxury ma

McLean Office | 703.760.8880

1313 Dolley Madison Blvd McLean, VA 22101

SUMMER REAL ESTATE GUIDE | JUNE 2018

R E A L

T O R S

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 24

AMAZING BACKYARD

VIENNA

$1,099,000 2 TIER STONE PATIO

VIENNA

$869,999

NEW CUSTOM HOME

VIENNA

$1,550,000 FRANKLIN FARM

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VIENNA

$1,300,000

JUNE 2018 | SUMMER REAL ESTATE GUIDE

Leaders in Northern Virginia Real IS THERE ANY BETTER REASON TO LET US HELP

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Timeless materials, beautiful design, endless Kentland pond views make this estate one of the finest in Great Falls. The floorplan is modern, inviting and perfect for large gatherings. Lutron programmable light design illuminates key rooms with depth and drama and the newly redesigned Gourmet Kitchen is breathtaking. The Master Suite features a redesigned Master Bath with a gas fireplace and two walk-in closets. Bedrooms each with their own bath and a finished fourth level complete the private quarters. Endless entertaining is possible in the walk-out lower level, with the bistro-style granite bar, casual living room with fireplace, full-size gym and massage room. A lower level patio, pool terrace with fireplace, spa, bar and Cabana pool house can be found outside.

10331 Carol St, Great Falls

$1,799,000

Gorgeous new construction stone and hardi-plank home by Suburban Builders, boasts an amazing screened porch overlooking an expansive level yard, while inside, a bright open floor plan suits todayâ€™s lifestyle! Known for their top quality workmanship, the details are evident throughout in the extensive millwork, 10 ft and coffered ceilings. The Main Level features a well-appointed designer Kitchen with beautiful lighted cabinetry, sunroom, and bedroom/office. The Upper Level features a lavish Ownerâ€™s Suite with custom closet and spa bath along with 3 additional En-suite Bedrooms. The fully finished Lower Level offers many recreational options with media and exercise rooms along with a 5th bedroom. 14

SUMMER REAL ESTATE GUIDE | JUNE 2018

Estate for over 25 years. BUY OR SELL YOUR HOME? OVERLOOKS POND

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JUNE 2018 | SUMMER REAL ESTATE GUIDE

Sales: Right Color Scheme Boosts Home Prices Painting a home in the right colors can have a significant impact on its sale price. According to a Zillow analysis, homes with black front doors, tuxedo kitchen cabinets and periwinkle-blue bathrooms sell for thousands more than otherwise would be the case. Zillow’s 2018 Paint Color Analysis looked at more than 135,000 photos from sold homes around the country to see how certain paint colors impacted their sale price on average, when compared to similar homes with white walls. Homes with black or charcoal-gray front doors sell for $6,271 more than expected, the highest sales premium of all the room and color combinations analyzed. Tuxedo kitchens, or kitchens where the upper and lower cabinets are painted in two different colors, sell for an average $1,547 premium. White cabinets contrasted by a dark navy blue or black kitchen island were some

of the most common tuxedo kitchens in top-performing listings. Homes with cool, neutral wall colors like blue bathrooms and lighttaupe living rooms also sold for more than expected. But beware: some paint colors might actually deter buyers. Homes with more style-specific colors, like brick or raspberry-red kitchens, sell for an average $2,310 less than expected. Homes with yellow exteriors also sell for less. “For a seller, painting a front door is one the least expensive home prep projects, but also one that can have a powerful impact on a home’s sale price,” said Kerrie Kelly, a Zillow homedesign expert. “While cool, neutral wall colors like tan and light blue are still popular, we’re seeing a notable shift in home design where pops of color – particularly in darker hues of blue and gray to even black – are becoming increasingly popular.”

Do Colors Really Affect Home Prices? Details from Zillow Survey Suggest a Direct Connection Does Really Exist ROOM TYPE

COLOR TAG

DESCRIPTION (What color looks like in homes)

IMPACT ON PRICE

BATHROOM

LIGHT BLUE

Periwinkle blue, often found with a gray-blue tint.

Adds $2,786

DINING ROOM

BROWN

Oat brown to medium sandy brown. A brown with yellowish overtones.

Takes away $1,684

KITCHEN

BLACK/NAVY

Tuxedo cabinets – white or light-colored cabinetry with dark navy or black lower cabinets or kitchen-island cabinets. Typically paired with lighter wall color for a pop of high-contrast color.

Adds $1,547

KITCHEN

RED

Brick or barn red to a lighter raspberry red.

Takes away $2,310

LIVING ROOM

LIGHT TAUPE

A warm tan with pink or peach undertones; darker peach undertones on accent walls.

Adds $2,793

EXTERIOR

YELLOW

Creamy bright yellow to a flax-yellow. A warm yellow with brown undertones.

Takes away $3,408

FRONT DOOR

BLACK

Charcoal, smoky black to a rich jet black.

Adds $6,271

“Contrasting colors, especially in kitchens and home exteriors, add interest and dimension to a room that plays very well in listing photos and videos,” Kelly said. Picking the perfect paint color is

one of multiple factors that may affect why a home sells for more money. Walls painted in neutral colors have broad appeal and may be a signal that the home is well cared for or has other desirable features.

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. “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 dif16

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 MITRE Corp. wishes to build a visually appealing pedestrian corridor at its secure campus in western McLean near survey participants said that Tysons. At one time, Tysons was a vehicle-centric, pedestrian-unfriendly locale, but that is changing – perhaps slowsidewalks are a positive factor ly, but definitely changing. (Photo by Brian Trompeter) when purchasing a home, and However, responders with their neighborhood contrib- 80 percent place importance ferent for every homeowner, more Americans are express- school-age kids in the home, utes to that quality of life. on being within easy walking The report found that distance of places. ing a desire to live in commu- regardless of their generation, nities with access to public show a greater preference for women, particularly young When it comes to respontransit, shorter commutes conventional suburban com- women, prioritize walkability dents’ thoughts on transand public transit more than portation priorities for the and greater walkability,” Men- munities. Sixty percent of all re- older or younger men. denhall said. government, 73 percent inFifty-four percent of young dicated that maintaining and According to the survey, sponders with kids in school the majority of Americans, 53 said they prefer larger homes women said that sidewalks repairing roads and bridges percent, would prefer to live and yards that require driving, and places to take walks is a should be a high priority, with in communities containing and that number jumps to 63 very important factor in de- expanding roads to help allehouses with small yards but percent for Millennials with ciding where to live, and 39 viate or reduce congestion as percent said the same about the next highest priority, at 54 within easy walking distance kids in school. The survey also found that having public transit nearby. of the community’s amenipercent. However, when it comes ties, as opposed to living in a majority of Americans, 88 The survey of 3,000 adult communities with houses percent, are very or somewhat to a short commute to work, Americans living in the 50 that have large yards but they satisfied with the quality of youth was a greater indicator largest metropolitan areas have to drive to all amenities. life in their communities, and of preference than gender; 49 was conducted by American This up from 48 percent in 51 percent of those people percent of young women and Strategies and Meyers Rebelieve that the walkability of 48 percent of young men said search in September 2017. 2015.

SUMMER REAL ESTATE GUIDE | JUNE 2018

Christés Properties is proud to present these new luxury home designs by ESA Luxury Living. ESA homes are specifically designed for their respective locations and each home is filled with the highest level of interior and exterior finishes, ESA homes homes are outfitted with the latest smart home technology, including lighting, sound, mechanical and security capabilities. We market and sell the ﬁnest quality homes in the Washington, DC area. Christés Properties advisors are members of the Board of Directors of the Harvard Business School, international construction companies, and banks throughout the Washington DC area.

AVAILABLE

5801 Chain Bridge Forest Court Arlington VA 22207 To be delivered late July 2018. A stunning transitional-style home in Chain Bridge Forest with an upgraded variance stucco exterior and an open, flowing interior with the highest level of finishes and fixtures. This home is over 6800 square feet of finished living space including 5 bedrooms, 5 full baths, 3 half baths, 4 fireplaces, and an elevator with access to all three floors. Buyer will have a choice of schools as this property is located in both Arlington AND McLean School District.

4108 N. Ridgeview Road, Arlington, VA 22207 To be delivered in early September 2018. Located on the peaceful tree-lined streets of Chain Bridge Forest minutes from GW Parkway, 4108 N. Ridgeview Road is a beautiful contemporary stucco home faced with real stone. The bright, transitional-style interior features over 6400 square feet of finished living space including 5 bedrooms (and one optional 6th bedroom), 6 full baths, 2 half baths, 4 fireplaces, and an optional elevator with access to all three floors.

Luxury Lot in Franklin Park: 1858 Massachusetts Ave McLean VA 22101

1430 Highwood Dr McLean VA 22101 To be built ESA Luxury Home on a half acre lot in the heart of Chesterbrook Woods. Transitional model with approximately 6,800 SqFt. Luxury living in the 6 Bedrooms, 6 Baths and 1 half bath home with a bedroom and full bath on the main floor. 3 car garage walking into the main floor with a walkout side basement.

Beautiful gently sloping lot in Franklin Park on a half acre lot, 25.900 SqFt. Perfect to build your luxury home in the heart of Franklin Park. Call now for details.

GO TO WWW.CHRISTESPROPERTIES.COM FOR ADDITIONAL INFORMATION, PICTURES, VIDEO'S AND FLOOR PLANS FOR THESE MODELS. CONTACT Christés Properties info@christesproperties.com or 571-295-8342 FOR ADDITIONAL LOTS AVAILABLE IN ARLINGTON & MCLEAN.

George Lodge Principal Broker Christés Properties 6639 Hawthorne St McLean VA 22101 571-295-8342 JUNE 2018 | SUMMER REAL ESTATE GUIDE

Home Sales: Millennials Tend to Go Over Budget Millennials poured some $514 billion into the U.S. housing market over the last year as the largest generation of home buyers. But new survey data shows their home-ownership aspirations are stymied by affordability issues, frustration with the buying and selling process, and a cutthroat housing market. More than half of young buyers (53 percent) make multiple offers to buy their first home, and only two in five Millennials (39 percent) are able to make the recommended 20 percent or more down payment. The results of the Zillow Group Report on Consumer Housing Trends 2017 show how the nation’s highly competitive housing market is changing the way a new generation approaches buying a home. The second annual report is the largest and most comprehensive survey of real estate consumers ever conducted. More than half of Millennials (62 percent) shop for a rental while they’re looking to buy a home, indicating they accept the fact that buying a home is

not a sure thing. They are more likely to say they struggled to find a home in their price range and on their time frame, and over one-third (37 percent) of Millennial buyers say they went over their budget, compared to 29 percent of all buyers. Coming up with a down payment is one of the biggest hurdles young buyers face, and the Zillow Group Report sheds light on previously unknown statistics about how Millennials are pulling together enough cash. Less than half (39 percent) of Millennials put down the recommended 20 percent or more on their home purchase, while one in four (21 percent) put down the bare minimum – 5 percent or less – in order to secure a home loan. One in three (29 percent) Millennial buyers now gets financial help from friends or family to make a down payment, and one in three (31 percent) Millennial buyers cobbles together a down payment from multiple sources. “In many cities across the U.S., the

housing market is extremely competitive, especially for first-time buyers who are looking to purchase a starter home,” said Zillow chief economist Dr. Svenja Gudell. “Young buyers often start their careers in fast-growing cities in which the market is particularly tough – and they’re trying to save for a down payment while making recordhigh rent payments.” “Gen Z” – those born between 1995 and 2010 – already makes up more than 21 percent of the U.S. population, and is the most ethnically and racially diverse generation in U.S. history. They are beginning to enter the housing market as renters. The Zillow Group Report reveals that those in Gen Z are just as likely as those in older generations to say owning a home is a key component of the American Dream; 57 percent say they considered buying a home when they looked for their last rental. Generation Z renters work hard to win a home and end up submitting more rental applications than any other generation (3.1 applications

compared to 2.5 for all renters), yet they also move quickly through the process, spending the least amount of time searching (less than one month, compared to 26 percent of all renters). “It’s encouraging to see that Generation Z is inheriting the same notion of what home means as their parents and Millennial siblings,” said Jeremy Wacksman, Zillow Group chief marketing officer. “These tech-savvy yet risk-averse renters . . . prefer living with others to living alone, and they put their vast social networks to work during every step of the rental-search process. As they mature and look toward home-ownership, it will be interesting to see how their aspirations and preferences will shape the housing market.” The 2017 Zillow Group Report is the 2nd annual largest-ever survey of U.S. home buyers, sellers, owners and renters, and surveyed more than 13,000 U.S. residents aged 18 to 75. The full report is available for free to the public at www.zillow.com/report.

“Green” construction is rapidly gaining traction among both single-family and multi-family home builders, according to new research published in the “Green Multifamily and Single Family

Homes 2017 SmartMarket Brief.” The latest in a series of studies conducted by Dodge Data & Analytics in partnership with the National Association of Home Builders (NAHB), the study shows that green homes are

continuing to gain market share. At least one-third of single-family and multi-family builders who were surveyed said that green building is a significant portion of their overall activity (more than 60 percent of their portfolio). By 2022, this number should increase to nearly one half in both the single family and multifamily sectors. Within this group, nearly 30 percent of multifamily builders fall into the category of “dedicated‚“ green builders (more than 90 percent of their portfolio). On the single family side, the percentage of dedicated green builders is nearly 20 percent, but that share is expected to grow sizably by 2022. “These findings show that green building has become an established part of the residential construction landscape,” said NAHB chairman Granger MacDonald, a home builder and developer from Kerrville, Texas. “It is no longer a niche business.” Increasing energy efficiency continues to be the most common method of improving the performance of a green home, followed by creating a healthy indoor-living environment. “As consumers become more familiar with the impact that their homes can have on their health and well-being, we wouldn‚‘t be surprised to see the influence of this factor continue to grow,” said Steve Jones, Dodge’s senior director of industry insights research. “Homes are following the larger trend that Dodge has been tracking across commercial and institutional sectors for healthier buildings to become an increasingly important part of being sustainable.” The report also found that a consid-

erable number of builders are developing net-zero homes or plan to build net-zero homes in the near future. Among those surveyed, 29 percent of single family home builders have built a net-zero home in the past two years, and 44 percent expect to do so in the next two years. Builders see increased customer demand and a competitive advantage as the top two drivers to develop netzero homes. Other SmartMarket findings suggest the single family green-home market is maturing. For one, the report found that home builders are less concerned about higher start-up costs than in previous studies. There was also a decline among people who think consumers will not pay additional costs for green building. Between one-half and two-thirds of respondents say seven different drivers are pushing them to build green, more than in the past. In fact, these top drivers, selected by between 64 and 57 percent of single family builders, include customer demand; greater availability and affordability of green products; the prospect of producing a higher quality home; appraisers recognizing greater value in green homes; government or utility incentives; and changes in codes, ordinances and regulations. Multi-family builders see government or utility incentives; customer demand; and changes in codes, ordinances, and regulations as the top drivers for future activity. With respect to green-building obstacles, multifamily builders are most concerned about the costs associated with green; and higher start-up costs.

‘Green’ Building: Homeowners Embracing Trend

T H E S H I V E LY T E A M P R E S E N T S

886 Chinquapin Road, McLean An almost 18,000 square foot palatial estate with all the amenities of a 5-start resort allows for both elaborate entertaining and comfortable living on 5 private acres backing to Great Falls National Park. Offered at $7,250,000. Call for private appointment. Put our Concierge service to work for you. Contact The Shively Team. Tracy Shively +1 703 930 0268 | Tracy.Shively@SothebysRealty.com Ruth Franke +1 703 598 8799 | Ruth.Franke@SothebysRealty.com TheShivelyTeam.com

Equal housing opportunity. Price and availability subject to change.

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JUNE 2018 | SUMMER REAL ESTATE GUIDE

Glorious Villa Evokes French Countryside

Great Falls Home with Custom Pool Features Private Lake with Island

magine the opportunity of owning a classic chateau-inspired home in the French countryside, with a private lake to call your own and bucolic surroundings of exceptional woodlands coupled with the best in European-infused designed. You do not have to travel across the Atlantic to find such a place. In fact, there is a way to enjoy such a splendid showplace here in Northern Virginia. Our featured property is a glorious home reminiscent of an Old World hunting lodge, set on nearly 5.5 acres of prime Great Falls land close to the Grange. Rich in detailing, with special accoutrements throughout, the home showcases 14,000 square feet of interior space with about 364 feet of waterfront in Marmota Farms, located in the heart of Great Falls. Plus, you have a custom pool perfectly positioned to be a centerpiece of outdoor living. The property, constructed in 2005 by acclaimed BOWA Builders, currently is on the market, listed at $4,895,000 by Fouad Talout and Pasale Karam of Long & Foster Real Estate. The attention to detail lavished on this home is stunning, from the Gothic doors reclaimed from an Argentine castle to the hand-carved pine dado paneling from a church in England. From the Indo-Portuguese-inspired cigar room to the wine cellar, delights are found around every corner. Our inspection begins as we turn onto a private drive that sets the table

for all the exceptionality sure to unfold before us. Lushly landscaped conifer firs provide a fitting sense of elegant privacy. The light-filled, two-story foyer is our first stop, complete with a Tiffany stained-glass window and chandelier salvaged from an Anheuser-Busch collection. Vintage oak flooring is found throughout the main level. One opulent space is the gallery, a storied spot complete with hidden door,

repurposed 16th-century baptismal font and even a 500-gallon salt-water aquarium. It marks the perfect spot for entertaining in style. The dining room is a standout, ready to welcome a gathering. The kitchen area is a delight, with dual islands featuring vintage French castory and stained-glass pantry doors. It’s perfect both for the serious chef and those who enjoy classic elegance. The kitchen flows into the informal

Great Room, with a Renaissance-era limestone walk-in fireplace rescued from the Burgundy region of France serving as the centerpiece. From here, antique Chinese doors lead us to a receiving room, providing a wonderful spot to showcase rare pieces that are incorporated into the design. Also part of the main level, you’ll find a master retreat plus multiple terraces that overlook the custom pool, spa and landscaped grounds. Upstairs are three other en-suite bedrooms, while downstairs there is a gym, billiard area and access to the enclosed porch. Equal parts chic and whimsical, the home is designed to provide a backdrop for the adventurers among us. It’s the kind of unique home that serves the region so well. 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: 626 Philip Digges Drive, Great Falls (22066). Listed at: $4,895,000 by Fouad Talout (7030 459-4141 and Pacsale Karam (703) 472-3749), Long & Foster Real Estate. Schools: Great Falls Elementary, Cooper Middle, Langley High School.

EXPERIENCE you can trust... NEGOTIATING skills that work for YOU! CONTACT FOUAD TALOUT TODAY AT 703.459.4141

SUMMER REAL ESTATE GUIDE | JUNE 2018

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JUNE 2018 | SUMMER REAL ESTATE GUIDE

Experience a premiere senior living community One rich in tradition with the ideal independent lifestyle. Established in 1969, Vinson Hall Retirement Community is a vibrant senior living community: independent living serves commissioned uniformed service officers and their immediate families as well as federal government employees with a similar military background. No military or government affiliation required for assisted living and nursing care.

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SUMMER REAL ESTATE GUIDE | JUNE 2018

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

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JUNE 2018 | SUMMER REAL ESTATE GUIDE

Selling: Some Costs to Sellers Are Transparent, But Others Aren’t Easy to See ... and Can Add Up U.S. homeowners spend $18,342 on average to sell their home, according to Zillow and Thumbtack’s “2018 Hidden Costs of Selling” analysis. But for those in higher-cost markets, such as Northern Virginia, the total could go much higher than that national average. “Even in the hottest housing markets in the country, selling a home takes time and costs money,” says Jeremy Wacksman, Zillow’s chief marketing officer. “From decluttering and staging to pre-inspections, agents and homeowners often spend months behind the scenes prepping a home – well before it’s listed on the market.” Zillow and Thumbtack identified several common, but often overlooked, seller expenses and calculated what they would cost around the

country. Since most (61 percent) of today’s sellers have never sold a home before, many of these costs may come as a surprise. Home sellers spend more time getting their home ready to sell than it will spend on the market, with the majority (78 percent) of sellers making at least one home improvement. Sellers who hire professional help spend $4,985, on average, to cover many basic seller-prep projects like painting, staging, carpet cleaning, lawn care and gardening, and local moving costs. Labor costs can vary significantly by metro. Sellers in San Jose, Calif., pay $6,580 on average, whereas sellers in Dallas pay an average of $3,720 for the same projects. Home sellers are also responsible

for agent commissions and transfer or sales taxes, which are two of the largest closing costs. Nationally, sellers spend $13,357 on average for both costs. However, since they are percentages of a home’s sale price, sellers in pricey markets like San Jose pay much more – $74,927 on average for the median priced home, the highest of the metros analyzed in the survey. Sellers in Indianapolis, in contrast, pay the least ($8,604), as home values are lower and the state has no transfer tax. Despite low inventory in many parts of the country, sellers still encounter massive pain points. From unexpected costs to determining the right list price, three out of four sellers say it was stressful or challenging

to sell their home, according to the 2017 Zillow Group Consumer Housing Trend Report. More than three in four sellers say they made at least one concession during the process, with reducing the list price as the most-cited compromise. “While there could be some initial sticker shock associated with the costs of selling a home, investing in homeimprovement projects like painting and home staging often proves to be very valuable in the long-run,” said Lucas Puente, a Thumbtack economist. “Homeowners starting to think about selling should take time to research and budget for the projects that can ultimately help sell their home faster and at a higher value,” Puente said.

Affordability: California Is Not the Place to Find It Continued from Page 13 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 afford-

ability 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 ar-

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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.

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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!

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SUMMER REAL ESTATE GUIDE | JUNE 2018

ea’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 affordable 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 BeachGlendale; Anaheim-Santa Ana-Irvine; San Jose-Sunnyvale-Santa Clara; and San Diego-Carlsbad. All five least affordable small housing markets were also in the Golden State. At the very bottom of the affordability chart was Salinas, where 10.7 percent of all new and existing homes sold were affordable to families earning the area’s median income of $69,100. Other small markets at the lowest end of the affordability scale included Santa Cruz-Watsonville; San Luis Obispo-Paso Robles-Arroyo Grande; Napa; and San Rafael.

Q&A: What Improvements Get Best Bang for Buck? Continued from Page 4 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.” ••• Thanks to the real-estate professionals who participated!

New Homes: More Are Coming Onto the Market 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

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.

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.” In the survey, remodelers reported the most common projects in 2017:

• 81 percent bathroom remodeling. • 78 percent kitchen remodeling. • 49 percent whole house remodeling. • 37 percent room additions. • 30 percent window/door replacements. Additionally, a separate survey by NAHB showed that high-performing, low-emissivity (Low-E) windows are

the most common green building product installed by remodelers. Programmable thermostats and high-efficiency HVAC systems also ranked highly among the most common green products used. While remodeling is most commonly associated with kitchens and baths, green upgrades can save home owners on utilities, improve air quality and increase the value of their homes.

Remodeling: Bathrooms Now Most Popular Projects

SOLD

Large or Small I Sell Them All 9874 Palace Green Way Vienna List Price $1,250,000 Sold Price $1,220,000

1032 Dead Run Dr McLean Sold Price $900,000

SOLD

1744 Lockerbie Lane Vienna List Price $750,000 Sold Price $780,000

1000 N Randolph Arlington Sold Price: $414,000 Brought the Buyer

SOLD

10700 Sycamore Spring Great Falls List Price $899,000 Sold Price $870,000

SOLD

7207 Churchill Rd McLean Sold Price $775,000

SOLD

Please feel confident that you can call me and to talk about yourself and your real estate questions. I will be celebrating my 30th year in real estate this June. My goal is to provide you with the most information possible so that you have the best options available. Please call or email anytime.

Jim Nelson 703-861-8675 703-790-1990

James.Nelson@LNF.com

If you are thinking about buying or selling, call me for a free consultation. 7389 Hidden Knolls Ct Springfield List Price $415,000 Sold Price $410,000

1103 Balls Hill Rd McLean List Price $799,000 Sold Price $770,000

9700 Beach Mill Rd List Price $989,000 Sold Price $950,000 Brought the Buyer

If your property is already listed this is not intended as a solicitation of that listing.

JUNE 2018 | SUMMER REAL ESTATE GUIDE

Updated Pre-War Charmer Standing Tall

Cherrydale Property Has Flexible Layout – and a Private Courtyard Area

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

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

Sun Gazette Local News & So Much More!

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

• REAL ESTATE • EVENTS • SHOPPING • COMMUNITY & MORE

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.

Go to the local source to advertise your business!

571-333-6272

JUNE 2018 | SUMMER REAL ESTATE GUIDE

Over $2 Billion Over 2.8 Billion Sold Sold

Virginia’s Leader in Luxury and International Real Estate Marketing For Over 30 Years Tours of These & Other Homes at www.margenau.com

View Casey’s

Virginia’s Leader in Luxury and International Real Estate | Over $97 Million Sold in 2013

KNOWLEDGE

1039 Aziza Court, Great Falls, VA $4,450,000

10603 Creamcup Lane, Great Falls, VA $3,199,000

EXPERIENCE

TRUST

8401 Brookewood Court, McLean, VA $4,350,000

511 Seneca Road, Great Falls, VA $2,699,000

6903 Lupine Lane, McLean, VA $3,750,000

7325 Westerly Lane, McLean, VA $2,450,000

Guest House 356 Springvale Road, Great Falls, VA $2,000,000

316 River Bend Road, Great Falls, VA $1,799,900

Casey Margenau Fine Homes & Estates, Inc.

SUMMER REAL ESTATE GUIDE | JUNE 2018

10330 Hickory Forest Drive, Oakton, VA $1,125,000