Sun Gazette Fairfax, Summer Real Estate Guide, June 29, 2017

2017

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

REAL ESTATE GUIDE

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$872,500

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$775,000

$858,000

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4081 Ridgeview Circle McLean

$1,275,000

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6627 Weatheford Court

$1,049,000

McLean

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6814 Weaver Avenue

206 Falcon Ridge Road

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11293 Landy Lane

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$700,000

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6653 Madison McLean Drive

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1115 Randolph Road

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1444 Highwood Drive McLean

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Jenny McClintock

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Cathy Peck

Bill Detty

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Amy Dilley-Davis

Inventory Issues Boost Sales Prices Across Va. Despite some easing in inventory constraints in recent weeks, the lack of homes on the market continues to put upward pressure on prices in the Virginia real-estate market.

A total of 12,383 properties went to closing across the commonwealth in May, according to figures reported June 22 by Virginia Realtors, up 5.1 percent from a year before and the highest sales total in 11 months.

May’s year-over-year increase was slightly below the average of the first five months of the year, which saw transactions up 6.3 percent from 2016 figures, but represents “sustained market strengthening,” the real-estate trade group said.

“We are continuing to see high demand across Virginia’s housing market,” said Claire Forcier-Rowe, president of Virginia Realtors. With inventory loosening in May, “eager buyers drove sales up significantly with quick purchases,” she said.

The median sales price of all homes that went to closing during the month across the Old Dominion was $285,000, up nearly 3 percent from a year before – below the year-to-date average of 11.8 percent, but the highest figure since June 2016. (Figures count all three sectors of the homes market: single-family, attached and condominium.)

Adding up the increased sales and

higher prices, the total sales volume for the month of $4.36 billion was up just over 10 percent from May 2016.

The dearth of inventory in some parts of the commonwealth, and perhaps the fear that interest rates might spike in coming months, has led to some purchasers being less finicky than they have in the past. The average number of days between listing and ratified sales contract for homes that went to closing in May was 52, an improvement from the 62 days required for homes that closed in May 2016.

All the trends – more sales, higher prices, fewer average days on the market – are conforming to traditional cyclical Virginia norms, which see the market grow in strength from late winter to mid-summer, then slowly dissipate the energy and move into a slower period from August to January.

In May, the average national interest rate for a 30-year, fixed-rate mortgage was 4.01 percent, down slightly from April and the lowest rate of the year, according to Freddie Mac. Going forward, mortgage-interest rates could be impacted by a hike in the Federal Reserve’s key rate announced June 14.

Figures represent most, but not all, homes on the market. All figures are preliminary, and are subject to revision.

– A Staff Report

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Property Owners Urged to Heed Fair-Housing Laws BRIAN TROMPETER Staff Writer If you rent or sell housing, think twice before discriminating against protected groups, enacting rules targeting children and pets, or steering clients to certain neighborhoods, experts advised at a fair-housing forum April 27.

Hurdles still remain, despite passage of the Fair Housing Act 49 years ago, presenters said.

“Equity in housing provides the foundation for aspirations to be achieved,” said Marvin Turner, Washington, D.C., field-office director with the U.S. Department of Housing and Urban Development (HUD). When access to housing is unfairly limited, it harms people’s ability to find quality jobs, schools and economic opportunity, he said.

“If you’re discriminated against, you remember that,” Turner said. “It has a destabilizing effect.”

The event, presented by the Fairfax County Office of Human Rights and Equity Programs in conjunction with the Equal Rights Center and Northern Virginia Association of Realtors (NVAR), was held at The Waterford in Fair Oaks.

The Equal Rights Center is “doubling down on its fair-housing marker,” said

deputy director Kate Scott.

The organization had sent 60 testers – half of them black, half white and all claiming to have criminal histories – into the field to see if they would be discriminated against when trying to rent housing. In 47 percent of the cases, white testers received more favorable treatment, she said.

“This is an area of huge concern,” she said.

Housing officials see all kinds of outlandish behavior. In one case in Miami, a landlord improperly required tenants to submit their children’s report cards, Scott said.

Brian McKenzie, the Equal Rights Center’s senior coordinator for fairhousing education, noted that federal law prohibits housing discrimination based on race, religion, national origin, familial and marital status, disability and skin color. Virginia also prohibits discrimination on the basis of “elderliness,” – 55 or older.

If asking about tenants’ criminal histories, landlords should consider convictions only, not arrests, and keep in mind how long ago the offenses occurred, said HUD director Steven Paikin.

People also may not be discriminated against if they have service or emotional-support pets, Paikin said.

Such pets need not be dogs or of a

kin said.

Michael Allen, a lawyer who has handled many fair-housing cases, said it’s possible to predict people’s life successes based upon the ZIP code where they live. Concentrating minorities in certain areas dooms them to poor health and living in high-crime arMichael Allen is a lawyer who has taken on housing-discrimination cases. eas, he said.

“We concertain breed, Paikin said. Their owners do not need to obtain special cer- sign generations of people of color to tifications for the animals, make them bad life outcomes,” Allen said. “Predawear special harnesses or vests, or pay tors will prey.”

The body of U.S. law is moving in special fees or deposits, he said.

If the animals damage property be- the right direction, he said, but even yond the amount covered by the se- affluent areas such as Fairfax County curity deposit, the landlord can seek must do more than the minimum refurther compensation in court, Paikin quired to ensure a better mix of minorities in its communities. said.

“Integration is the primary objecLandlords must be careful not to discriminate by race when asking for tive,” Allen said. “We should be able to tenants’ immigration documents, Pai- live together.”

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Realtor Q&A: Are Good Sales Skills Transferable?

DAVE FACINOLI Staff Writer Would real estate agents do well other types of sales? The Sun Gazette asked some local agents that question. Here are their answers: Billy Buck, Buck & Associates: “Good listening is the key for any kind of sales job. If you believe in and are convincing about your product, then it doesn’t matter if you are selling ice or yo-yos.”

Dawn Wilson, Keller Williams: “Being a good real estate salesperson takes some of the same skills that are required for other types of sales. Most importantly, you need to be a good listener and to understand your clients’ needs and what they want to achieve, and be able to help them get to the end result they want. Being good at communication, being positive, being professional, being responsive, being determined, being good at followthrough and not being easily discouraged are skills that good real estate salespeople have and are also transferable to other types of sales.”

Jane Price, Weichert: “Real-estate sales skills are transferable, particularly having in-depth product knowledge, identifying client goals and needs, building a client base, knowing marHBM SUN GAZETTE AD 1-5-2016f.pdf keting and maintaining professional1 standards.”

Karen Close, Century 21: “I’m not sure it’s really about selling. It’s more of a human touch and building relationships with people. It’s a knowledge of the whole process, sharing that knowledge and building trust are the most important things in any types of sales.”

Stacy Hennessey, McEnearney Associates: “If you’re passionate about your product, whether it be selling a home or fund-raising for a charity, you’ll be successful. People recognize honesty and passion.”

Renee Fisher, McEnearney Associates: “Being a successful real-estate professional, like being successful in any other sales profession, is about creating relationships. And the foundation of any relationship is trust.

Realtors can learn new skills that are required for other types of sales, but the ability to create a relationship is the common thread.”

Lori Shafran, Yeonas and Shafran Real Estate: “The short answer is yes.

To be successful in sales you have to have a strong sense of empathy and have a sincere desire to serve others.

You have to be a very specific listener to what they need and deliver what they want. The customer-satisfaction side is huge.”

Craig Mastrangelo, Re/Max Al1/5/16 8:40“Regardless AM legiance: of the product (i.e. real estate, software, staffing,

etc.), a salesperson must first use their knowledge of their market/discipline to attract clients and then create an environment in which they sell themselves and create a professional relationship in which the client feels they are getting value for the sales services being provided. These inherent sales skills exist in many different types of sales. It is up to the salesperson to successfully implement them so they create a stream of steady business to be successful.”

John Mentis, Long and Foster: “I think good sales people are good sales people, if they can match up clients’ need with the products they need.”

Betsy Twigg, Washington Fine Properties: “Yes, because good selling involves relationships with people, gaining their confidence and trust and being very honest and forthcoming.

Then, they will trust you are selling a good product.”

Casey Margenau, Casey Margenau Fine Homes & Estates: “Yes, of course. Sales is sales, but when you are talking about real estate, that is a much longer process. Other things, like automobiles and shoes, is a much faster process. The skills you learn in sales help you to be able to cross-sell.

But if you sell real estate the way you sell other products, you can be successful in the short term, but not the long term.”

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Dean Yeonas, Yeonas and Shafran Real Estate: “It could be. Selling real estate is more of a consultation and advising process than selling. If you are a successful real estate agent that skill set is transferable because of your attention to details and your social skills and how to relate to people.”

Karen Briscoe, Huckaby Briscoe Group: “Like the Frank Sinatra song, ‘New York, New York.’ If you can make it there, you can make it anywhere. I think it is the same in sales. If you can make it in real estate, those tend to stay in real estate, but you would be able to sell other products.”

Ann Wilson, Keller Williams: “You are kind of born to be a salesperson and it takes a certain personality. It would be fun to own a small boutique.

If you have a gift for gab, you can sell.”

Gloria Adams, TTR Sothebys International Realty: “Yes. It’s all about the basic concepts of customer service and personal relationships 101. You meet people, have patience and understanding with them, and find out what they want.”

Mark Middendorf, Long & Foster: “I definitely think sales is a people business that is transferable. It’s a matter of learning the product. Also, what it boils down to the most is people-skills and being efficient, organized, a good listener, knowing what you are doing, and knowing the next step before it gets there.”

Jack Shafran, Yeonas and Shafran Real Estate: “Servicing people is a skill set that leads to success. If you are selling cars, tires or fish at a fish market, if you are servicing people right, they will come back to you.”

Casey Samson, Samson Properties: “Being a Realtor requires a diverse skill set, and it either clicks or it doesn’t. Realtors are basically hunters and problem-solvers. We hunt for listings, purchasers, homes and solutions.

We combine state-of-the-art tools on the Net with old-school, tried-andtested techniques. We take a huge responsibility when a seller trusts us with their home.”

Rob Ferguson, Re/Max Allegiance: “So much of what we do is relationship-building and fulfilling a need.

If you believe in the product you are selling that fills a need for someone, than you can sell it.”

Steve Wydler, Wydler Brothers Real Estate: “That’s an emphatic yes.

Being in real estate sales requires incredible discipline and motivation, and that would transfer to other sales skills, as well as other types of work.

If you don’t have ambition and selfmotivation, you will not achieve anything.”

Carol Ellickson, TTR Sotheby’s International: “Negotiating the large and little things in everyday life requires that we first communicate – and Continued on Page 38

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European-Style Luxury in Grand Locale

Sumptuous Estate Is Surrounded by Trees in Bucolic, Close-In Setting

I

s it possible to enjoy the lifestyle of grand European élan while finding yourself close to the booming Tysons corridor? Can such a property combine the features of a close-in location with a sense of upscale serenity more often found in Hunt Country estates?

The answer to each of those questions is “yes” – and our featured property is ready and willing to fulfill desires and exceed expectations.

Set back from the hubbub yet just north of Leesburg Pike (and an easy two miles to all the emerging Tysons corridor has to offer), the property was built to exacting standards with classic grandeur at the start of the 21st century, helping to usher in a new era in upscale properties.

Attention to detail can be found around every corner of this home, best described as a manor house in the finest tradition. The exuberant curb appeal bids welcome to all who approach, while the classic fence offers a sense of security and serenity.

And in the rear yard? Enjoy the summer months luxuriating among surroundings that include a free-form pool, pergola, chef’s area, spa and some lovely, mature trees providing needed shade.

The property currently is on the market, listed at $1,950,000 by Lilian Jorgenson of Long & Foster Real Estate.

First and foremost, the home was designed to provide a fitting backdrop for elegant soirées and functions throughout the year. An interior fountain set within a skylit winter garden is sure to be a crowd-pleaser.

Room sizes are large, traffic flow is lovely, floors throughout the main level are marble and, as we tour the three levels of exceptionality, you will come across six fireplaces (gas and woodburning). Decks and patios allow the party to run inside and out.

But the fact that the home was designed as an elegant showstopper does not mean it isn’t equally at home celebrating the comforts of daily living. The overall ambiance is one of warm-hearted delight, with spaces across all three levels that will become family favorites.

Our welcome in the elegant foyer, with its floating curved staircase, sets the tone for all that will follow, and as

Facts for buyers Address: 9400 Vernon Drive, Great Falls (22206).

Listed at: $1,950,000 by Lilian Jorgenson, Long & Foster Real Estate (703) 790-1990.

Schools: Colvin Run Elementary, Cooper Middle, Langley High School.

noted, the formal rooms – such as the living room and dining room – are ex-

pansive in their size without giving up a feeling of ambiance.

The kitchen is a stunner, which combines everything a serious chef would wish with an appeal that will delight everyone who comes to it.

The Great Room, a home library and bonus room are all part of the main-level package.

Luxuriate in your upper-level master retreat (one of five bedrooms in the home), while downstairs, there is a glorious club level with home theater.

All this, and you’ll have easy commuting times to everywhere in the region, which is yet another special bonus of this extraordinary home.

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)738-2520.

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

Sold more than 1,900 homes for a dollar volume more than $1.30 Billion dollars!

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Over 30 years of real estate experience.

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703-407-0766

www.Lilian.com

Magnificent Colonial in McLean 9,900+ Total Sqft of Luxury, Pool, Game Court

6533 Gilliams Rd., McLean, VA 22101 $2,995,000

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TENNIS COURT, PRIVATE McLean $2,799,500 GREAT FALLS $1,800,000

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Pool, Tennis Court, Gym

CALL ME TODAY TO DISCUSS SELLING YOUR HOME, THE SUMMER MARKET IS NOW!

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

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Sales of Existing Homes May Reach Decade High The multi-year stretch of robust job gains along with improving household confidence are expected to guide existing-home sales to a decade high in 2017, but supply and affordability headwinds and modest economic growth are holding back sales and threatening to keep the nation’s low home-ownership rate subdued.

That’s according to speakers at a residential real estate forum at the recent 2017 Realtors Legislative Meetings & Trade Expo.

Lawrence Yun, chief economist of the National Association of Realtors, presented his 2017 midyear forecast

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pects activity to stay on track and finish around 5.64 million – the best since 2006 (6.47 million) and 3.5 percent above 2016. With several metro areas seeing hefty price growth, the national median existing-home price is expected to rise around 5 percent this year.

“The housing market has exceeded expectations ever since the election, despite depressed inventory and higher mortgage rates,” said Yun. “The combination of the stock market being at record highs, 16 million new jobs created since 2010, pent-up household formation and rising con-

and was joined onstage by Jonathan Spader, senior research associate at the Joint Center for Housing Studies at Harvard University, and Mark Calabria, chief economist and assistant to Vice President Mike Pence.

Spader’s presentation addressed past and projected movements in the home-ownership rate, and Calabria dove into why reversing weak productivity and the low labor force participation rate are necessary to boost the economy.

The first quarter was the best quarterly existing sales pace in exactly a decade (5.62 million), and Yun ex-

$365,000

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$1,299,000

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Great Falls

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sumer confidence are giving more households the assurance and ability to purchase a home.”

Although sales are currently running at a decade high, Yun believes the healthy labor market should be generating even more activity. However, listings in the lower- and mid-market price range are scant and selling fast, and home-buyers are discovering they can afford less of what’s on the market based on their income.

“We have been under the 50-year average of single-family housing starts for 10 years now,” said Yun. “Limited lots, labor shortages, tight construction lending and higher lumber costs are impeding the building industry’s ability to produce more single-family homes. There’s little doubt first-time buyer participation would improve and the home-ownership rate would rise if there was simply more inventory.”

Housing construction has been uneven so far this year, but Yun does anticipate starts to jump 8.4 percent to 1.27 million. However, this is still under the 1.5 million new homes needed to make up for the insufficient building in recent years.

New single-family home sales are likely to total 620,000 this year, up 8.4 percent from 2016.

Addressing the nation’s low homeownership rate, Spader said substantial uncertainty exists about its future direction.

Spader cited foreclosure-related housing exits from older adults and delayed buying from younger households as the primary causes in the downward trend since the downturn.

He said the good news is that while there was growth in homeowner households in 2016, an aging population, changes in family type and increasing diversity by race and ethnicity all pose as headwinds going forward. Spader’s 2025 projection puts the home-ownership rate in a range of 61 to 65 percent.

“Stagnant household incomes, rising rental costs, student loan debt and limited supply have all contributed to slower purchasing activity,” said Spader. “Young and minority households’ ability to reach the market will play a big role in how much the actual rate can rise in coming years.”

Calabria’s presentation focused on his thoughts of what can be done to jump-start economic growth. He attributed prolonged weak productivity and the low labor participation rate as the primary reasons why the current economic expansion is the slowest since World War II. “A strong labor market will drive a strong housing market, but you can’t have a strong housing market without a strong economic foundation,” said Calabria. “The recovery has been uneven, with roughly 70 counties making up roughly half of all job growth.”

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Washington Region Is More Affordable Than Some Rising wages and moderating home prices offset a rise in mortgage interest rates to give housing affordability a slight boost in the first quarter of 2017, according to the National Association of Home Builders (NAHB)/ Wells Fargo Housing Opportunity Index (HOI) released today.

And there was some good news for Washington-area residents, too, where more homes were affordable to residents with typical incomes than was the case nationally.

“Builders are reporting confidence and solid traffic in many markets across the nation even as they continue to grapple with nagging headwinds,” said NAHB chairman Granger MacDonald, a home builder and developer from Kerrville, Texas. “Regulatory constraints, trade barriers on Canadian softwood lumber, and persistent shortages of lots and labor are slowing the pace of the housing recovery.”

“Ongoing job growth continues to fuel demand for housing, while wage growth is helping to offset the effects of rising mortgage rates and keep home prices affordable,” said NAHB chief economist Robert Dietz. “NAHB anticipates that housing will continue on a gradual, upward path throughout the year.”

In all, 60.3 percent of new and existing homes sold between the begin-

ning of January and end of March were affordable to families earning the U.S. median income of $68,000. This is up from the 59.9 percent of homes sold that were affordable to median-income earners in the fourth quarter.

The national median home price fell to $245,000 in the first quarter from $250,000 in the final quarter of 2016. Meanwhile, average mortgage rates rose nearly half a point from 3.84 percent in the fourth quarter to 4.33 percent in the first quarter.

For the second straight quarter, Youngstown-Warren-Boardman, Ohio-Pa., was rated the nation’s most affordable major housing market.

There, 92.7 percent of all new and existing homes sold in the first quarter were affordable to families earning the area’s median income of $54,600.

Meanwhile, Kokomo, Ind., was rated the nation’s most affordable smaller market, with 96.3 percent of homes sold in the first quarter being affordable to families earning the median income of $62,500.

Rounding out the top five affordable major housing markets in respective order were Elgin, Ill.; Scranton-Wilkes Barre-Hazleton, Pa.; Buffalo-Cheektowaga-Niagara Falls, N.Y.; and Syracuse, N.Y. Smaller markets joining Kokomo at the top of the list included Glen Falls, N.Y.; East Stroudsburg, Pa.; Bingham-

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of the affordability chart were located in California. In descending order, they included Los Angeles-Long BeachGlendale; Anaheim-Santa Ana-Irvine; San Diego-Carlsbad; and San JoseSunnyvale-Santa Clara (tied with San Diego).

All five least affordable small housing markets were also in California. At the very bottom of the affordability chart was Salinas, where 13.8 percent of all new and existing homes sold were affordable to families earning the area’s median income of $63,100.

In descending order, other small markets at the lowest end of the affordability scale included Santa CruzWatsonville; Napa; San Luis ObispoPaso Robles-Arroyo Grande; and San Rafael.

‘Hidden Costs’ Have an Impact

Do You Want to Get Organized?

12

ton, N.Y.; and Lansing-East Lansing, Mich.

The Washington region may not be known for low-cost real estate, but higher-than-average incomes help to offset the costs. In the quarterly report, 69.2 percent of homes were financially accessible to typical Washington residents, placing the D.C. region 41st nationally – its best ranking on the survey.

For the 18th consecutive quarter, San Francisco-Redwood City-South San Francisco, Calif., was the nation’s least affordable major housing market. There, just 11.8 percent of homes sold in the first quarter were affordable to families earning the area’s median income of $108,400.

Other major metros at the bottom

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(PRNewswire) – Nationally, U.S. homeowners spend $15,190 on average in extra or hidden costs associated with selling their home, according to a new analysis from Zillow and Thumbtack. Since most (63 percent) of today’s sellers have never sold a home before, some of these costs could come as a surprise.

To help with budgeting, Zillow and Thumbtack calculated several common, but often overlooked, seller expenses including sales taxes and agent commissions, as well as five optional home prep projects.

More than eight out of 10 home sellers make improvements before listing. While some sellers prefer to complete these projects themselves, those who outsource can expect to spend more than $2,650 nationally to cover staging, carpet cleaning, interior painting, lawn care and house cleaning – five of the most popular seller home prep projects. Labor costs vary significantly by region, so sellers in Los Angeles pay an average of $4,000 for the same projects, compared to sellers in Columbus, Ohio, who pay $1,500.

The two largest closing costs are agent commissions and in most states, sales or transfer taxes. Nationally, sellers spend $12,532 for both closing costs on the median home. Since they are percentages of the home’s sale price, sellers in hot coastal markets SUN GAZETTE

like San Francisco pay $51,520 on the median home, the highest of the metros analyzed. Sellers in Indianapolis pay the least ($8,238) as home values are lower and the state has no transfer tax.

From title insurance to escrow fees, sellers are responsible for a variety of other smaller closing costs. Even though selling a home costs money, most (73 percent) sellers are still satisfied with the transaction.

“One of the biggest regrets sellers have is not starting the process early enough,” says Jeremy Wacksman, Zillow Group’s chief marketing officer.

“For those planning to sell this year, take your time to research all the costs you could be responsible for and how they may affect your profit, or even budget for your next home. Partner with a great agent who can help you understand the nuances in your market – from what taxes or closing costs you should expect, to which home renovation projects can help attract the right buyer.”

“Sellers need to consider these additional, often necessary costs when planning to put their home on the market,” says Lucas Puente, Thumbtack economist. “While it’s clear these costs vary widely, often times the easiest way to ensure a home is fully prepared to be sold is to hire local, skilled professionals to help.”

6622 Madison McLean Drive, McLean 6622 Madison McLean Drive, McLean

6663 Madison McLean Drive, McLean 6663 Madison McLean Drive, McLean

6322 Linway Terrace, McLean 6322 Linway Terrace, McLean

$875,000 New price! Lovely well kept townhouse in move-in $875,000 condition. walkability to New price!Terrific Lovely location well keptand townhouse in move-in shopping, 3 bedrooms, condition. Three Terrificfinished locationlevels, and walkability to 3.5 baths, twoThree car spacious charming shopping, finishedgarage, levels, private 3 bedrooms, 3.5 back windows,garage, updated kitchen baths,yard, two new car spacious private charming (white), door.updated kitchen back yard,new newgarage windows, Small enclave of all brick (white), new garage door.townhomes. Motivated Sellers!

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$1,300,000 Private exclusive listing. Chic, contemporary and designed $1,300,000

DD L O L SSO

1101 Mill Ridge, McLean 1101 Mill Ridge, McLean

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12314 Delevan Dr, Herndon 12314 Delevan Dr, Herndon

$1,799,000 New Price! Beautiful property, fantastic location! $1,799,000

D SSOOLLD

Large, custom home in great condition.

New Price!

Beautiful property, fantastic Original location! owners say Sell!home So many amenities, second Large, custom in great condition.

Original kitchen in lower level, sunamenities, room, deck, large owners say Sell! So many second Master fantastic walkroom, out lower kitchen suite, in lower level, sun deck,level, large spacious rooms, circle drive, great office/library.

Master suite, fantastic walk out lower level, Don't Miss! spacious rooms, circle drive, great office/library.

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1450 Emerson Avenue, Unit 417, McLean 1450 Emerson Avenue, Unit 417, McLean

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8350 Greensboro Drive, Unit 204/206, McLean 8350 Greensboro Drive, Unit 204/206, McLean

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1025 Douglass Drive, McLean 1025 Douglass Drive, McLean

$650,000 Beautiful renovation of this spacious condo. $650,000

1228 Perry William Drive, McLean 1228 Perry William Drive, McLean

DD L O SSOL

$2,600,000 Elegant, friendly beautiful home... Many classy $2,600,000

$778,500 BROUGHT THE BUYER $778,500

$5,500/Monthly Spacious and classic split level on lovely lot in $5,500/Monthly

$5000/Monthly Great house! Great Location! Minutes to $5000/Monthly

DC/Tysons/MD/GW Parkway! Minutes All brick,to Great house! Great Location! spacious rooms, easyParkway! to live in... freshly painted, DC/Tysons/MD/GW All brick, floors refinished, newto live in... freshly painted, spacious rooms, easy washer/dryer/microwave/storm floors refinished, new doors/community tennis courts Rent price washer/dryer/microwave/storm includes all lawn maintenance. doors/community tennis courts Rent price includes all lawn maintenance.

(1021/1023), kitchen (Cambria Excellent valuewood herefloors, in thisnew pristine, large Unit Counters), sparkling baths,new freshly painted, two (1021/1023), wood floors, kitchen (Cambria balconies, indoorbaths, car parking neartwo Counters), one sparkling freshlyspace painted, elevators, laundry/storage area... balconies, spacious one indoor car parking space near unique floor plan. Don't miss all thatarea...

The elevators, spacious laundry/storage Rotonda has plan. to offer, youmiss won't disappointed! unique floor Don't allbe that The Minutes Rotonda to hasMetro. to offer, you won't be disappointed!

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$4500/Monthly Charming and gracious Colonial on beautiful lot $4500/Monthly

in close-inand McLean.

EasyColonial access toonBeltway, Charming gracious beautifulGW lot Parkway.

3 level property in close-inLarge McLean.

Easywell-maintained access to Beltway, GW with wonderful Parkway.

Large 3screened level well-maintained property porch, deck, updated kitchen and baths. One car with wonderful screened garage, lovelyupdated grounds! porch, deck, kitchen and baths. One car garage, lovely grounds!

Gourmet withofwine Beautiful kitchen renovation this cooler, spaciouselegant condo. powder wood balconies Gourmetroom, kitchen withfloors, wine two cooler, elegant(one enclosed with glass) with open one(one powder room, wood floors, two views, balconies garage in the enclosedspace. with Wonderful glass) withamenities open views, one Rotonda with shops in thisamenities building.inSellers garage space.

Wonderful the will look at offers... don’tinmiss!

Rotonda with shops this building. Sellers will look at offers... don’t miss!

8403 Brookewood Court, McLean 8403 Brookewood Court, McLean

Charming, well-kept, BROUGHT THE BUYER all-brick town home in community of Madisonwell-kept, of McLeanall-brick (63 towntown homes) in in a great Charming, home community location.

Property fronts of the of Madison of McLean (63onto townpark-like homes) setting in a great community.

Country French fireplace location. Property fronts ontokitchen, park-like settinginofmaster the and family room, party roomkitchen, in the lower levelinwith community.

Country French fireplace master nice bar, detached two-car Georgetown and family room, party roomgarage in theand lower level withStyle courtyard. nice bar, detached two-car garage and Georgetown Style courtyard.

Evermay.

No through street, owner maintains Spacious and classic split level on lovely lot in lawn/mowing, etc., renovated in 2007, Kitchen, Evermay. No through street, owner maintains baths updated, etc., cheerful and bright Sun Kitchen, Room off lawn/mowing, renovated in 2007, Family Room, gorgeous NeutralSun fresh baths updated, cheerful yard. and bright Room off decor.

Family Room, gorgeous yard. Neutral fresh decor.

1105 Dunaway Drive, McLean 1105 Dunaway Drive, McLean

$699,900 Excellent value here in this pristine, large Unit $699,900

$872,000 BROUGHT THE BUYER $872,000

Charming Colonial on idyllic lot, 4 bedrooms and BROUGHT THE BUYER 3.5 baths, Colonial updated on kitchen and and Charming idyllicwith lot, granite 4 bedrooms stainless, private deckwith overlooking 3.5 baths,large updated kitchen granite and community barn. stainless, large private deck overlooking community barn.

6307 Evermay Drive, McLean 6307 Evermay Drive, McLean

$1,290,000 Absolutely beautiful large condo in move-in $1,290,000

condition luxuriouslarge and condo convenient Palladium Absolutelyinbeautiful in move-in At McLean!in2410 sq ft on level. TwoPalladium car condition luxurious andone convenient parking in garage.

Clubroom, Library, At McLean!

2410 sqConcierge, ft on one level.

Two car Fitness Court Yard, Security, Balcony parkingCenter, in garage.

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8340 Greensboro Drive, Unit 1021/1023, McLean 8340 Greensboro Drive, Unit 1021/1023, McLean

bedrooms, 3.5 baths, lower level is Five walk out, Lovely Colonial in superb location. second kitchen, storage, upper has four bedrooms, 3.5 baths, lower levellevel is walk out, bedrooms (master has large walk in has four second kitchen, storage, upper level closet), hardwoods on both bedrooms (master has largemain walk and in upper levels, lot withonrock playupper set, closet),great hardwoods bothgarden, main and updates. levels, great lot with rock garden, play set, updates.

6653 Madison McLean Drive, McLean 6653 Madison McLean Drive, McLean

for functional easylisting. living,Chic, this contemporary all brick 3 leveland townhome Private exclusive designed is a superb location for everyone.

New hardwood forinfunctional easy living, this all brick 3 level townhome floors 3 levels, new for kitchen with new is in a on superb location everyone.

New hardwood appliances/marble, newkitchen plumbing/wiring, floors on 3 levels, new with new private custom designed courtyard, beautiful and private appliances/marble, new plumbing/wiring, unique.

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$863,000 Lovely Colonial in superb location. Five $863,000

8340 Greensboro Drive, Unit 1021/1023, McLean 8340 Greensboro Drive, Unit 1021/1023, McLean

$3500/Monthly Excellent value here in this pristine, large Unit $3500/Monthly

(1021/1023), kitchen(Cambria Excellent valuewood herefloors, in thisnew pristine, large Unit Counters), sparkling baths,new freshly painted, two (1021/1023), wood floors, kitchen(Cambria balconies, indoorbaths, car parking neartwo Counters), one sparkling freshlyspace painted, elevators, laundry/storage area... balconies, spacious one indoor car parking space near unique floor plan. Don't miss all thatarea...

The elevators, spacious laundry/storage Rotonda has plan. to offer, youmiss won’t disappointed! unique floor Don't allbe that The Minutes Rotonda to hasMetro. to offer, you won’t be disappointed!

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updates... move-in condition.

Fabulous Elegant, friendly beautiful home...

Manyroom classy sizes, hardwood floors, spacious groundsroom with updates... move-in condition.

Fabulous pool, floor Master with newgrounds luxury bath. sizes, Main hardwood floors, spacious with Wine cellar floor with Master tastingwith room,new three car garage. pool, Main luxury bath.

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$1,250,000 Spacious Evermay two level Rambler. Great $1,250,000

location neighborhood.

Kitchen, SpaciousinEvermay two levelNewer Rambler.

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Newer Kitchen, new commute to DC/Tysons/Maryland/Metro, baths, neutral decor, quality construction,walk easyto The Potomac School. Five bedrooms, commute to DC/Tysons/Maryland/Metro, walk to bonus/study, laundryFive on main level, fantastic The Potomac School. bedrooms, recreation room with bar, gas fireplace, bonus/study, laundry on main level, fantastic walk out lower heater. recreation roomlevel, with gas bar,water gas fireplace, walk out lower level, gas water heater.

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Fetneh Schacht, CRB Broker/Vice President Licensed in VA, MD, DC

309 Maple Avenue West, Vienna VA 22180

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VIENNA • $1,345,000

Grand colonial with an open design & custom finishes in quiet, private setting next to parkland.

Westbriar-Kilmer-Marshall pyramid. Cul-de-sac has a trail to the Silver Line Metro.

CENTREVILLE • $1,689,000

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MCLEAN • $1,649,000

VIENNA • $799,900

Price improvement - don’t miss out!

Great location near Tysons & Metro.

Stunning NV townhome, 4BR/3.5BA w/ 2-car garage, gourmet kitchen w/ center island, hdwds, luxe master suite w/ huge closet. Fin LL w/ bath & new RR floor.

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Rarely available all brick TH in treed enclave.

Hdwd floors on main levels, walkout to patio, backs up to trees. Beautifully updated in 2010, attached garage with plenty of parking. McLean High School!

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HERNDON • $704,900

Lynne Jones 703-615-2880 lynne_jones@prodigy.net www.lynne-jones.com

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Stately 3-level colonial w/4BR/3.5BA & den/office, perfect for entertaining & everyday living. Ideal Vienna/Tysons location, convenient to dining & shopping.

Easy access to major commuter routes, minutes to 2 Silver Line Metro stations.

Contact me for details!

JUNE 2017

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Elegant TH in desirable gated neighborhood.

Spacious end unit w/ close to 6000 fin sq ft on 4 levels. Lg gourmet kitchen w/ FR. Huge master suite w/ sitting rm, FP, 2 walk-in closets. Upper level perfect as guest suite. Private patio.

VIENNA • $1,500,000

This beautifully appointed and maintained Craftsman home has it all! Study/computer room in upper hallway - spacious bright rooms LL has a media room, wet bar & walk out! Too many upgrades to mention!

Debbie Earman & Tana Keeffe Specializing in residential real estate for 40 years

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ING M CO OON S

Helping my clients to sell or buy their homes Minoo is my passion.

Rouhi I am ready to help you 703-509-2553 with your minoo.rouhi real estate needs. @longandfoster.com

Summer R E A L E S T A T E G U I D E

4BR/3.5BA home in family-oriented neighborhood on cul-de-sac. Schools are Crossfield, Carson and Oakton. Lg FR w/ FP, SS appliances, finished basement w/ walk out, office on main level. New roof & windows in 2015, newer HVAC system.

VIENNA/TYSONS WEST

I LOVE REAL ESTATE!

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MCLEAN/EVANS FARM • $1,624,000

Priced to sell! Magnificent all brick estate w/ close to 8300 fin sf on main & upper levels.

5BR/6FB/2HB; main & upper level Master Suites! Large playroom on upper level.

Extensive hardscaping.

703-967-8873

MCLEAN • $774,900

14

Gorgeous home with view of 202-669-5115 mountains! 11,000 finished square feet. Close to everything. Backyard dee@deemurphy.com is resort-like with pool, spa, outdoor kitchen, bath house and sport court.

Allie Chamberlain 703-861-7229 Allie.Chamberlain@lnf.com

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Megann Yaqub, REALTOR 703-915-2508 megann.yaqub@longandfoster.com www.megannyaqub.lnf.com

Autumn Could Be a Solid Time for Potential Buyers (PRNewswire) – Patience pays off, for home buyers. The best time to buy a home is late summer, when there are the most options and frequent price cuts, according to new data As summer approaches, overall inventory of homes for sale is down 5.3 percent from a year ago, signaling another competitive home shopping season for buyers this year. Even in markets that have seen a recent uptick in the number of homes for sale, inventory is still well below the levels of five years ago.

A new Zillow analysis shows that there are more homes for sale at the end of summer than at any other time of year, giving buyers the greatest selection. In most major metros, August had more for-sale listings than any other month.

In Los Angeles, for example, there were about 8,000 more homes for sale in August than in April. In Seattle, the difference was about 5,000 listings.

At the same time, price cuts are more common as home sellers start to worry about not selling their homes.

Across the country, 15 percent of listings in August have had price reductions. In most large markets, buyers are most likely to find a home with a reduced price tag in either August or September.

The home-shopping process can be stressful for buyers. On average,

buyers spend more than four months shopping for a home, and put in at least two offers before buying, according to the 2016 Zillow Group Report on Consumer Housing Trends.

Buyers who have been unsuccessful so far may find better luck in the later months of the summer.

“In such a competitive housing market, it’s easy for buyers to get frustrated when they are putting in multiple offers without success,” said Zillow chief economist Dr. Svenja Gudell.

“Buyers who start their home search in the spring may still be looking months later – but for those who can wait it out, the end of summer will bring more favorable conditions. Homes that may have been overpriced earlier in the year are more likely to have a price reduction, and those listings passed over in earlier months may look better with a fresh perspective.”

Spring traditionally kicks off the home shopping season; most new listings hit the market during these months. April in particular had more new listings than any other month in 2016.

However, shopping in spring can be competitive, and these homes are more likely to sell for a premium.

Homes listed in late spring sell faster and for a $1,500 premium on average, according to Zillow’s Best Time to List analysis.

(PRNewswire) – A fresh coat of paint in the right color may help sell a home for more money: According to a Zillow analysis, homes with walls painted in shades of blue or light gray may sell for as much as a $5,400 premium.

Zillow’s 2017 Paint Color Analysis looked at more than 32,000 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 blue bathrooms, often found in hues of powder blue or light periwinkle, sold for $5,440 more than expected, the highest sales premium of all colors analyzed. Walls painted in other cool, natural tones like pale gray or oatmeal were also present in topperforming listings.

A home’s exterior color may also have an impact on its sale price.

Homes painted in “greige,” a mix of light gray and beige, sold for $3,496 more than similar homes painted in a medium brown or with tan stucco. For a pop of color, homes with front doors painted in shades of dark navy blue to slate gray sold for $1,514 more.

Some colors may actually deter buyers. Homes with darker, more style-specific walls like terra-cotta dining rooms sold for $2,031 less than expected. However, a lack of color may have the biggest negative impact as homes with white bathrooms sold for an average of $4,035 below similar homes.

“Color can be a powerful tool for attracting buyers to a home, especially in listing photos and videos,” says Svenja Gudell, Zillow’s chief economist. “Painting walls in fresh, naturallooking colors, particularly in shades of blue and pale gray not only make a home feel larger, but also are neutral enough to help future buyers envision themselves living in the space.

Incorporating light blue in kitchens and bathrooms may pay off especially well as the color complements white countertops and cabinets, a growing trend in both rooms.”

Selecting the right paint color is one of many factors that may affect why a home sells faster or for more money.

Walls in cool neutrals like blue or gray have broad appeal and may be signals that the home is well cared for.

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CONTACT LORI SHAFRAN, 703-967-0909 YEONAS & SHAFRAN REAL ESTATE www.LoriShafran.com

"

MAGNIFICENT MCLEAN

Right Coat of Paint Could Help to Boost Sales Prices

SUN GAZETTE

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Vacation living at it's best! From an indoor sauna, to a wine cellar to your own private tennis/sports court to a beautifully landscaped pool, there is no reason to leave home when you have it all!! Super convenient location within McLean and offering over 7000sq.ft! This amazing French Provincial home is a true Offered classic and offers the most amazing features throughout! at: $1,995,000.

THE COLONIES • MCLEAN

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This beautiful, Sun-Filled home has been fully renovated and is located in one of the most convenient buildings within The Colonies, Just steps to all the wonderful community amenities; Tennis Courts, Swimming Pool, Fitness Center, Clubhouse, Tot Lot and unique Par Course. The location can’t be beat and is offered fully furnished with high end designer furnishings.

Walk to the new MCLEAN METRO STATION. A true commuter’s dream location!

Offered at: $375,000 fully furnished!

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Timber-and-Post Property Exudes Style

Expansive Interior Spaces Sit Amid a Large, Verdant Lot in Great Falls

O

ur eternal quest for the best in local real estate takes us now to Great Falls, where something extra-special awaits our inspection – a true timber post-andbeam home, one exuding exceptionality inside and out, providing a unique twist for both daily living and entertaining in grand style.

Visually arresting at first sight, the exterior is complement by three levels (plus copious loft space) of creative design inside, adding up to a one-of-a-kind property that sets itself apart.

Meanwhile, in the rear, you can spend your summer enjoying the showstopper pool, spa and gazebo.

The property currently is on the market, listed at $2,000,000 by Casey Margenau of Casey Margenau Fine Homes & Estates.

Easily accessible to Tysons and the rest of the region, but set back in a sea of serenity amid nearly 4.5 acres of lush grounds, the home is a testament to marvelous creativity. From the covered front porch (with southern exposure) that bids us welcome to the property, to the functional touches such as newer HVAC units and radiant heat on all floors, the property has pleasant surprises around every turn.

The uniqueness of design is apparently from our entry into the welcoming foyer, the first stop on a journey that will feature more than 8,700 square feet of interior space.

In the center of all the action on the main level is the kitchen area, occupying a strategic position and showcasing top-quality appliances and a large center island. It is flanked by a breakfast room on one side and the dining room on the other.

The dining room is open to the living room, located at the rear of the home and offering access to the deck, as well as a fireplace.

A separate, bonus room (also with walk-out access) is located on the other side of the rear of the home, and between it and the kitchen is glass-walled sunroom. The entire package is bathed in natural sunlight and serves up a cheerful disposition.

Onward to the upper level we go, where the master retreat is a slice of serenity in a topsy-turvy world. In addition to the large bedroom area overlooking

Facts for buyers Address: 990 Millwood Lane, Great Falls (22066).

Listed at: $2,000,000 by Casey Margenau, Casey Margenau Fine Homes and Estates (703) 827-5777.

Schools: Colvin Run Elementary, Cooper Middle, Langley High School.

the rear domains (and featuring a large, private balcony adjacent), it also is home to a sitting room, two large walk-in closets and a sumptuous bath.

Five additional bedrooms are found on the upper level, providing flexibility and versatility no matter what your particular needs. Laundry facilities are here, as well.

The second upper level is home to bonus loft space, adding an extra dimension to the home’s layout.

Were this the end of the tour, we’d have come away amply satisfied. But this is the week of the summer real estate guide, so you can imagine we have a trick or two up our sleeves. Voilà!

There’s more awaiting us on the lower level.

Here, you will spy a recreation room that is as large as many of the apartments we started out in, with a kitchenette area, stone fireplace and walk-out access.

An additional en-suite bedroom, several bonus rooms, a second laundry room and storage space are found on the lower level, too, further proclaiming the versatile nature of the design.

It’s been much to take in, so a recap is in order. The home features seven bedrooms, five full and two half baths.

And, shame on us, we have yet to mention the oversized four-car garage.

We turn our attention once again to the rear of the home, where the large poolside area is sure to be a hit with all ages. It simply makes the workday

go faster these hot summer months to know the opportunity awaits for an early-evening swim or time in the spa.

Creative in nearly every way, this is a home that marches to its own drummer and sets a standard of unique elegance and warmhearted living. Well worthy of consideration for those who want to break out of the mold and enjoy something extra-special.

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)738-2520.

Over 2.5 Billion Sold

KNOWLEDGE 16

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EXPERIENCE JUNE 2017

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Arizona County Takes Crown as Fastest-Growing Maricopa County, Ariz., has supplanted Harris County, Texas, as the county with the nation’s highest annual population growth, according to new U.S. Census Bureau population estimates.

Harris County was the largest numeric gainer for eight years in a row, but Maricopa County gained 81,360 people between July 1, 2015 and July 1, 2016 – or about 222 people per day – while Harris County fell to second with a gain of 56,587 people, or about 155 people per day on average.

Maricopa County, home to Phoenix, primarily grew through the addition of 43,189 residents from net domestic migration, a measure of how many people move to or from an area versus other parts of the United States.

The county also added 25,428 people from natural increase (more births than deaths) and 10,188 people from net international migration.

“In the early 2000s, Maricopa County was in the top one or two counties by numeric growth. From 2009-2011, Maricopa County saw much lower net migration than in the years before or after, which caused the county to drop out of the top population-gaining counties,” said Peter Borsella, a demographer in the Census Bureau’s population division.

Harris County, home to Houston, saw changes in net domestic migration, going from a net gain of more than 17,000 to a net loss of more than 16,000. Despite this, Harris County had the second largest gain in population due to high natural increase (46,412) and net international migration (27,922).

In terms of overall population, Harris County remained the third-largest county with 4.6 million people, and Maricopa County remained the fourth-

largest county with 4.2 million people.

Los Angeles County (Calif.) and Cook County (Ill.) remained the largest and second-largest counties.

The statistics released by the Census Bureau provide population estimates and components of change for the nation’s 382 metropolitan statisti-

cal areas, 551 micropolitan statistical areas, and 3,142 counties, as well as Puerto Rico’s metropolitan statistical areas.

Growing consumer interest and demand for greener, more sustainable properties is driving a dialogue between Realtors and homebuyers and sellers.

Over half of Realtors find that consumers have interest in real estate sustainability issues and practices, according to a new National Association of Realtors report.

The report, stemming from NAR’s new Sustainability Program, surveyed Realtors about sustainability issues facing consumers in the real estate market and ways Realtors are setting their own goals to reduce energy usage.

“As consumers’ interest in sustainability grows, Realtors understand the necessity of promoting sustainability in their real estate practice, such as marketing energy efficiency in property listings to homebuyers,” said NAR president William Brown, a Realtor from Alamo, Calif., and founder of In-

vestment Properties. “The goal of the NAR Sustainability Program is to provide leadership and strategies on topics of sustainability to benefit members, consumers and communities.”

To meet growing consumer interest, more Multiple Listing Services are incorporating data entry fields to identify a property’s green features; 43 percent of respondents report their MLS has green data fields, and only 19 percent do not.

Realtors see great value in promoting energy efficiency in listings with seven out of 10 feeling strongly about the benefits in promoting those features to clients.

The survey asked respondents about renewable energy and its impact on the real estate market.

A majority of agents and brokers (80 percent) said that solar panels are available in their market; forty-two percent said solar panels increased the perceived property value.

Twenty-four percent of brokers said that tiny homes were available in their market, compared to 61 percent that reported tiny homes were not yet available.

When asked about involvement with clients and green properties, 27 percent of agents and brokers were involved with 1 to 5 properties that had green features in the last 12 months.

Seventy percent of members worked with no properties that had green features, leaving a great deal of room for future growth.

The home features that Realtors said clients consider as very or somewhat important include a home’s efficient use of lighting (50 percent), a smart/connected home (40 percent), green community features such as bike lanes and green spaces (37 percent), landscaping for water conservation (32 percent), and renewable energy systems such as solar and geothermal (23 percent).

When it comes to the sustainable neighborhood features for which clients are looking, 60 percent of Realtors listed parks and outdoor recreation, 37 percent listed access to local food and nine percent listed recycling.

The transportation and commuting features of a community that Realtors® listed as very or somewhat important to their clients included walkability (51 percent), public transportation (31 percent) and bike lanes/paths (39 percent).

NAR initiated the Sustainability Program as a platform for dialogue on sustainability for Realtors, brokers, allied trade associations, and consumers.

The program’s efforts focus on coordination and articulation of NAR’s existing sustainability resources, while also supporting a growing area of interest for consumers, helping members to assist home buyers and sellers.

On the Move Net Domestic Migration for U.S. Counties: 2015-2016

Net domestic migration by county 5,000 or greater 1,000 to 4,999 0 to 999 -100 to -1 -5,000 to -101 Less than -5,000

Source: Vintage 2016 Population Estimates www.census.gov/programs-surveys/popest.html

Realtors: Consumers See Growing Interest in Sustainability

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South Is Home to Most Fast-Growing Localities Ten of the 15 fastest-growing large cities in the nation were located across the South in 2016, with four of the top five in Texas, according to new population estimates released by the U.S. Census Bureau.

Conroe, Texas (near Houston), was the fastest-growing large city (population of 50,000 or more) between 2015 and 2016 at 7.8 percent, making its growth rate more than 11 times the nation’s growth rate of 0.7 percent.

Some of the other fastest-growing cities were Frisco, Texas (6.2 percent); McKinney, Texas (5.9 percent); Greenville, S.C. (5.8 percent); and Georgetown, Texas (5.5 percent).

“Overall, cities in the South continue to grow at a faster rate than any other U.S region,” said Amel Toukabri, a demographer in the Census Bureau’s population division. “Since the 2010 Census, the population in large southern cities grew by an average of 9.4 percent. In comparison, cities in the West grew 7.3 percent, while cities in the Northeast and Midwest had much lower growth rates at 1.8 percent and 3.0 percent respectively.”

Four cities in the West – Bend, Ore.; Buckeye, Ariz.; Lehi, Utah; and Meridian, Idaho – were among the top 15 fastest growing. Only one city in the Midwest (Ankeny, Iowa) topped the list, while no cities in the Northeast

were among the nation’s fastest growing.

The statistics cover all local governmental units, including incorporated places (such as cities and towns), minor civil divisions (such as townships) and consolidated cities (government units for which the functions of an incorporated place and its parent county have merged).

While the overall list of the 15 largest U.S. cities did not change since 2015, Columbus (Ohio) surpassed Indianapolis, becoming the 14th largest city in the United States with a population of 860,090. Indianapolis has a population of 855,164.

New York remains America’s largest city by a wide margin. Its July 1, 2016, population of 8.5 million makes it more than twice as large as the next largest city, Los Angeles.

Los Angeles remains the secondlargest city, with a population of about 4 million. Despite a population loss of 8,638, Chicago remains the third-largest city, with a population of 2.7 million.

Phoenix, Ariz., had the largest numeric increase of any city, by adding 32,113 (about 88 people per day on average) between 2015 and 2016.

Of the 19,510 incorporated places in the United States, around 76 percent (14,801) had fewer than 5,000

people in 2015, whereas only 3.9 percent (752) of cities had a population of 50,000 or more. Since 2015, on average, these small towns have seen uneven growth across U.S. regions: • Northeast small towns declined

by 0.5 percent.

• Midwest small towns declined by 0.3 percent.

• Small towns in the South grew by Continued on Page 38

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Average Square Footage of New Homes Dips a Tad The average and median square footage of new homes constructed across the nation in 2016 declined slightly but remained among the highest ever, according to new federal figures.

The median square footage of new single-family homes completed during the year stood at 2,422, down from 2,467 in 2015, according to the U.S. Census Bureau. The average square footage of 2,640 was down from 2,687 a year before.

Each figure represented the thirdhighest square footage since record-keeping began in 1973. When the survey started, the average square footage stood at 1,660.

While there were occasional yearover-year declines, the trajectory toward more interior space moved generally upward, passing 2,000 square feet in 1990 and hitting 2,500 square feet in 2007.

The recession of the late 2000s caused average and median sizes to fall, but the return to larger homes began by 2010.

In 2016, the largest average square footage was reported in the Northeast, at 2,796, followed by the South (2,671), West (2,632) and Midwest (2,474).

The average lot size of new homes was 43,348 square feet, or just over an

acre, down slightly from a year before.

The median lot size of 9,076 square feet also was down slightly. The largest average and median lot sizes were found in the Northeast and Midwest, with the smallest in the West and South.

Figures come from the 2016 Characteristics of new housing, funded by the Census Bureau and U.S. Department of Housing and Urban Development.

Also from the report: • Ten percent of new single-family homes completed nationally in 2016 had one or two bedrooms; 45 percent had three bedrooms; and 46 percent had three or more bedrooms. The figures were roughly on par with the previous year.

• Thirty-seven percent of new homes completed in 2016 had three or more baths; 60 percent had 2 or 2.5 baths; and 3 percent had 1 or 1.5

baths.

• Ninety-three percent of new homes were completed with air-conditioning systems, unchanged from a year before. Until the mid-1970s, most new homes did not have central air, but the figure accelerated in the 1980s and 1990s.

• Just over half (52 percent) of new homes came without a fireplace, while 43 percent had one and 5 percent had two or more.

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International Buyers Can Have Impact at High End (PRNewswire) – International buyers of residential real estate in the U.S. don’t have a significant impact on the overall housing market, but they are more influential at the top end of the market, according to the 2017 Q2 Zillow Home Price Expectations Survey.

The quarterly survey, sponsored by Zillow and conducted by Pulsenomics LLC, asked more than 100 housing experts and economists about the impact of international buyers on the U.S. real estate market.

Overall, international buyers have a modest effect on inventory and home values, according to the panelists. At the high end of the market, though, the respondents said international buyers have a major impact on home values.

Since the housing crash, housing affordability has been a significant issue for many Americans. Rapidly in-

creasing rents had the dual effect of financially incentivizing home-ownership and making it harder to save for a down payment.

At the same time, lagging new construction and high negative equity rates have kept inventory low, pushing up home values and making it harder to find an affordable home.

Increased activity from international buyers of U.S. real estate has also fueled concerns about affordability.

Most of the panelists surveyed expect that international buying activity will decrease or stay at the same level in the coming year, signaling that outside influences aren’t likely to be the most significant driver of the U.S. housing market over the next year.

Expectations for overall home price growth are stronger now than they were a year ago. A year ago, panelists predicted that home prices would

rise 3.4 percent in 2017. Now, they expect to see a 4.8 percent increase.

Their forecasts for home price growth in 2018 are also more optimistic now compared to last year.

“International buyers are popular scapegoats for rising real estate prices and shrinking inventory, but domestic factors have had a bigger influence on the housing market, much more so than demand from overseas,” said Zillow chief economist Dr. Svenja Gudell. “Older Millennials are reaching prime home-buying age, increasing demand for housing, but we are still well behind historical norms when it comes to building new homes. The fact that economists and experts are revising their expectations upward for future home value growth is a sign that these trends will continue to exert upward pressure on prices.

Some cities with expensive hous-

ing markets – including Vancouver, Canada, Paris, and Sydney - have introduced policies in attempts to limit international home-buying activity, However, most panelists agreed these measures are unlikely to affect housing affordability, or may even be counterproductive. Only about 20 percent of respondents think these policies are an effective response to improve housing affordability.

“On the heels of last year’s nearly seven percent national home value appreciation rate, the prospect that prices will increase less than five percent overall this year might be dispiriting to some,” said Pulsenomics founder Terry Loebs. “Yet, 4.8 percent is not only well above the historical average annual gain, it’s the most optimistic projection for 2017 that we’ve seen from our expert panel over the past five years.”

New-Home Sales Take Slight Tumble in Latest Report Sales of newly built, single-family homes in April dropped for the first time in 2017, falling 11.4 percent to a seasonally adjusted annual rate of 569,000 units, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.

Sales numbers for the first three

months of the year were all upwardly revised, and the March sales pace was the highest since October 2007.

“Despite some slowness this month, total new home sales in 2017 are up more than 11 percent from this time last year and builders are optimistic about future market conditions,” said Granger MacDonald, chairman of the

National Association of Home Builders (NAHB) and a home builder and developer from Kerrville, Texas. “We should see further gains in the months ahead as more prospective home buyers enter the market.”

The inventory of new home sales for sale was 268,000 in April, which is a 5.7-month supply at the current sales

pace. The median sales price of new houses sold was $309,200.

Regionally, new home sales decreased 4.0 percent in the South, 7.5 percent in the Northeast, 13.1 percent in the Midwest and 26.3 percent in the West, according to the monthly report of the trade group.

– A Staff Report

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1808 Old Meadow Road #1407, McLean $295,000

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921 Mackall Ave, McLean $5,250,000

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1219 Mottrom Drive, McLean $2,390,000

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1103 Towlston Road, McLean $4,200,000

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6349 Georgetown Pike, McLean $3,679,000

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Custom Colonial Exudes Graciousness A Suburban Builders Standout Sits on a Bucolic, Well-Landscaped Lot

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magine having the opportunity to enjoy the warm-weather months luxuriating in your expansive, verdant, meticulously-maintained rear yard, enjoying the shade or playing a game of touch football.

Set on a one-third-acre lot, our featured property showcases incredible landscaping on the outside, with a back deck that will surely become a central hub for both daily living and entertaining.

Combine this with an exceptional custom home, designed by Suburban Builders, and the perfect location in the The formal spaces are delights, with heart of North Arlington, and you’ve the living room open to the dining room found a showplace ready to welcome its (with its marvelous bay window). The next owners with open arms. grand kitchen features a center island The property currently is on the and a wet bar connecting it to the fammarket, listed at $1,725,000 by Theresa ily room. The family room features SurValencic of Long & Foster Real Estate/ round Sound for movie nights, while the Christie’s International. gracious library includes built-ins.

With about 5,100 square feet spread Two staircases connect to the upper across three levels, the overall ambiance level, where all four bedrooms feature is one of relaxed elegance. The well- hardwood flooring and crown mouldconceived floorplan ensures wonderful ing. The focalpoint master retreat is a traffic flow even when there is a crowd beacon of style. on hand, and attention to detail shows Downstairs, the light-filled, walk-out throughout – from pocket-sized. the front porch to the space provides a media room with full INSIDENOVA screened porch that overlooks the rear bar, plus an exercise room that would Now no matter where you are, domains. work equally well as a bedroom. you can get all your local news, INSIDENOVA pocket-sized. sports, and traffic.

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A verdant retreat in a sought-after locale – truly magical, it’s a home just waiting for you to call it your own.

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

For information on the home, contact the listing agent.

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

Download the InsideNoVa app, then follow all the news in Northern Virginia anywhere you go.

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Address: 6614 32nd Street North (22213).

Listed at: $1,725,000 by Theresa Valencic, Long & Foster Real Estate (703) 638-8425.

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

Now no matter where you are, you can get all your local news, sports, and traffic.

go.

DOWNLOAD YOUR FREE INSIDENOVA APP AT THE ITUNES INSIDENOVA APP AT THE ITUNES STORE STORE OR GOOGLEOR PLAY.GOOGLE PLAY.

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Facts for buyers

DOWNLOAD YOUR FREE INSIDENOVA APP AT THE ITUNES STORE OR GOOGLE PLAY.

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SUN GAZETTE

Save The Date!

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703.406.9009 lyonsmcguire.com Each office independently owned and operated. This is not intended as a solicitation if your home is currently listed with another broker.

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For the love of home. ™ HERNDON

$1,500,000

GREAT FALLS

$810,000

DONNA USCINSKI

571-437-5704

$1,

$

$ G IN

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Barbara Rohde

Dan Laytham, Jan Laytham, Dianne Van Volkenburg

G R EAT FALL S

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

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• www.

.com

#1 REALTOR AND HOME SALES IN GREAT FALLS

Call Us Today to Help You Buy or Sell Your Home! www.GreatFallsGreatHomes.com

1207 Tottenham Ct Reston $1,199,000

Updated brick home within the Langley pyramid. Large gourmet kitchen and an Ultra-luxurious main level master suite with travertine bath. 1900 sq.ft. Walk-out lower level.

Great Falls

$1,299,000

Great Falls

$939,000

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$895,000

Great Falls

$1,199,000

Great Falls

$2,699,000

Great Falls

$1,149,000

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$1,999,000

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$1,399,000

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Lush 6 Acre Retreat

Outdoor terrace with stone fireplace

Multi-generational compound

2.5 Acre lot with pool and gazeebo

12,000 sq.ft, Viking Kitchen

Masterfully designed Craftsman

Minutes from the center of town

Bright floorplan with stunning views

Great Falls living and walkability!

Jan Dan Laytham • Dianne Van Volkenburg Susan Canis Sally Marvin

Associate Realtor Associate Realtor

Office: 703-757-3222 9841Georgetown Pike

Great Falls VA 22066 • 703-759-9190 SUN GAZETTE

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Imaginative Colonial Is Ready for You

Refreshed Interior Spaces Combine with Perfect Urban-Village Locale

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he combination of classic styles, upscale amenities and always-in-fashion location is guaranteed to set certain homes apart from the pack. And in our featured presentation, everything comes together in an extra-special package.

Set in the magical land between Westover Village and the Lee-Harrison Center, you find yourself within walking distances of multiple parks, have easy access to the W&OD Regional Trail, and are a quick bike or ART ride to connect to the Ballston Metro station.

All this, and you can luxuriate in a home that has been a beacon of architectural strength since its construction in 2004, and recently has been updated and refreshed, providing turnkey living opportunities.

The property currently is on the market, listed at $1,374,900 by Betsy Twigg of Washington Fine Properties.

A verdant front yard and a strong, vertical-focused curb appeal harks back to some of the classic pre-war construction, paying homage to the past but with its feet planted distinctly in the “now.”

Our first-floor exploration shows a

layout that is conducive both to daily living and entertaining in style. The traditional living and dining rooms proffer plentiful space, and flow into the family room (with fireplace) and access to the deck and patio. Perfect for hosting gatherings during the spring-summer-fall months.

The kitchen is a standout, ready to exceed the expectations of serious chefs while also providing a delightful ambiance for gatherings of family and friends. The professional Viking gas range, multiple pantries and attractive wood cabinetry add to the ambiance, and there is a breakfast area opening to the deck, beckoning you to enjoy casual dining overlooking the domains.

Tucked into a quiet spot off the living room, and accessed via French doors, the den is a showplace of creative tranquility, with built-ins adding to the versatility.

Upstairs we go; our first stop is the engaging and expansive master retreat, which beyond a sumptuous bedding space offers a sumptuous sitting area (with built-ins and a coffee bar). There is copious closet space, and the master

Start Your Career

bath offers an oversized shower, soaking tub, double vanities and more.

Two additional en-suite bedrooms are found on this level, along with both a laundry room and linen storage.

The daylight lower level provides more amenities, including the large recreation room with fireplace, plus bonus spaces for a media room, play area and exercise room.

The home’s fourth bedroom can be found on this level, with a full bath, and there is plentiful storage space, as well.

Out-of-doors, the visual appeal of the plantings adds to the overall appeal, and as mentioned earlier, many opportunities will present themselves for outdoor entertaining.

It’s a standout property, ready for you to make it your own.

Try Real-Time Job MatchingTM and get hired fast on

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Facts for buyers Address: 5225 17th Street North, Arlington (22205).

Listed at: $1,374,900 by Betsy Twigg, Washington Fine Properties (703) 967-4391.

Schools: McKinley Elementary, Swanson Middle, Yorktown High School.

Fresh out of college, I wasn’t sure which job was right for me. Real-Time Job Matching helped me identify my best job options and start a bright new career.

with a Job that is Right for You!

32

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

For information on the home, contact the listing agent.

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

TM

Jobs.insidenova.com

SUN GAZETTE

“Changing peoples’ lives one client at a time.”

www.chrisfraleyhomes.com SOLD

REDUCED

10105 Sanders Court • Great Falls $950,000.00

1215 Stuart Robeson Drive • McLean $1,899,900.00

414 Walker Road • Great Falls, Virginia

UNDER CONTRACT

SOLD

COMING SOON

1232 Aldebaran Drive • McLean $1,499,000.00

1964 Upper Lake Drive • Reston Brought the Buyer

789 Stephanie Circle • Great Falls $1,450,000.00

RENOVATION ALMOST COMPLETE!

$1,399,000.00

FOR SALE

Chris Fraley

LUXURY HOME SPECIALIST

Direct: 703.217.7600 chrisfraleyhomes@gmail.com

9710 Fringe Tree Rd • Great Falls 2 Acres/ Water Views $775,000.00

6820 Elm Street. McLean, Virginia 22101 Each office is independently owned and operated.

Evan H. Dockser ASSOCIATE AGENT

LICENSED IN DC/VA

Phone: 301.332.8300 evandockser@gmail.com SUN GAZETTE

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Buying FALLS CHURCH / MCLEAN

Selling

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Mortgage

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Mclean

BaRB BuBel

703-827-BARB 703-966-8675 houses@bubel.com

$1,899,950

ARLINGTON

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

703-447-3555

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2 Blocks to Rosslyn Metro..Shuttle to Georgetown Shops All utilities included in a very low monthly dues. claudette 24 Hour gated community,Fantastic Gym,Hair Salon, SchwaRtz, aBR,GRI Convenience Store,Pool,etc.

Life Member, NVAR Top Producer New fresh paint ,New stove,Dishwasher,Microwave.

703 309 HOME (4663) 1 Bedroom & Bath & Bright Living room homeccs@aol.com www.claudetteschwartz.com

Claire@Clairedriscoll.com

Rare opportunity$1,384,000 to build your dream home a Spectacular homeonbuilt in 2014over , 4 br1+acre den,lot 4.5in beautiful bath. The open Forest. floor plan coveted Langley features ft ceiling Enjoy this 10 serene and on private the main level, gorgeous setting, just minutes away hardwood floors. from Tysonskitchen Corner,with the Gourmet Capital Beltway, and granite counters,DC, 6-burner Washington’s cooktop andairports. butler’s Public pantry to spacious sewer andopens gas are available.

2-

Insurance

RIVER PLACE WEST BUILDING $159,900

Land in Langley Forest

McLean

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END townhome.

Ann Romer Walk to to express CRS, GRI, ABR Metro bus, grocery (703)597-4289 stores, restauRltrAnn@aol.com rants, library & TheRomerTeam.com MORE! Recent kitchen with maple cabinets, slate appls, granite, and tile floor. Spacious master has a vaulted ceiling and new finish-in-place wide plank hardwood. The master bath offers a sep jetted tub and shower. Walkout rec rm with fpl & new flooring.Awesome!!

NVAR Mult-Million Dollar Club LIfe Member/Top Producer Top 5% of Realtors Nationwide

Idyllic Setting This stately 5 BR,4 ½+ BA Williamsburg Colonial is set on a picturesque .95 acre lot with lush landscaping, multiple patios and private pool.

Interior offers high ceilings, custom wood detailing, updated kitchen and baths, balconies overlooking the pool and private paneled office w/fp.

Close in location with easy access to DC and Tysons corridor.

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Town of Vienna Coming Soon! $699,900 The Romer Team

$875,000

MY CLIENTS HAVE JUST BECOME THE NEW OWNERS OF A WONDERFUL HOME!!!

This handsome 5 Bedroom ~ 3 1/2 Colonial is sited on a D L .44 acre lot on a culSO de-sac not far from all the amenities of both downtown Falls Church and McLean ~ Beautifully maintained ~, Custom Screened Porch with cathedral ceiling and mood lighting overlooks awesome backyard ~ McLean High School Pyramid ~ TRULY A VACATION AT HOME KIND OF HOUSE...

•

sun-filled family room with gas fireplace and built-in shelves. Expansive For additional information and to make an appointment call Trex deck. Luxury master suite with walk-in closet. Finished walk-up Margaret Gilboa lower level, at 9 ft703-629-0828. ceiling and au-pair suite, rec room, ample storage, garage.

FALLS CHURCH CITY STUNNING PENTHOUSE WITH WALL OF WINDOWS! SPACIOUS AND GRACIOUS CITY LIVING.. GOURMET KITCHEN.. 2 MASTER BDR + DEN..HIGH CEILINGS..APPROX. 2200 SQ. FEET!

MARGARET Margaret Gilboa GRI, CRS, ABR GILBOA

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

PAT DERWINSKI

Chairman of the Board #2 Producer, Company-Wide

703-615-0116 (C)

502 W. Broad Street, Unit #505 $1,050,000

Top 1% Nationwide > 28 yrs margaret.gilboa@gmail.com

Walking distance to Ballston metro, restaurants, and shops.

Realto

patderwinski@hotmail.com

617 Lincoln Ave | Falls Church City

Chris Earman

New Construction — Beautiful Farmhouse w/ 5 Bedrooms, 4.5 Baths in the Heart of Falls Church City backing to the W&OD Trail — Private screened porch off of Great room and 2nd Floor Master Bedroom. Open floor plan with overall 4,000+ sq ft. Offered at $1,399,900.

Member NVAR Multi-Million Dollar Sales Club Residential Top Producer

(703) 628-4541 Chris@EarmanRealEstate.com

CEDAR CHASE OF GREAT FALLS

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MIDDLEBURG PERFECT LOT $475,000 Build your dream home on this gorgeous 9+ ac. lot. Rt. 50 road frontage insures easy access in all weather conditions. Gently rolling terrain provides ideal building site. Percs for 4 BR.

If you are looking to buy, sell, or rent in 2017, call Chris for a no obligation consultation.

OWNER FINANCING POSSIBLE.

Blanche Raff Certified Buyer’s Agent Licensed MD, DC, & VA

202-365-1575 C 703-760-8880 O

www.raffrealestate.com blaraff@aol.com

At Our Recent Shred Event, We Helped The Community Destroy 1.7 Tons Of Old Documents & Records!

$1,249,000

Stay Tuned For Info On Our Next Community Shred JOAN SELLERS GRI Maintain width of dot/marks with base of i

Lifetime Top Producer Top 5% National Sales

Cap Height

1/32 cap height gap

Luxurious & impeccably detailed with smart-home technology. 5 BR, 5.5 It’s Always A Sellers Market!

BA. Sun-filled rooms, hardwoods, towering ceilings, plantation shutters, sellerstwo@aol.com chef’s kitchen, Morning Rm, Music Rm, gorgeous lower level with bar & 703-862-JOAN game area. 3 car gar. Minutes to Metro & Reston Towne Center.

703-862-5626 X Height

1/4 Cap Height

7/64 cap height even with top arm of t

R E A L T O R S

®

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

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Updated Outdoor-Living Experiences Can Pay Off (Statepoint) – Ready to step up your outdoor living experience this season? You’re not alone. Nearly 70 percent of design and build firms report an increased demand for outdoor living space, according to the American Institute of Architects.

When updating your outdoor living areas, focus on additions that stylishly and seamlessly blend your spaces together.

Consider elements that accent your home décor, enhance comfort, create beauty and offer low-maintenance upkeep so you can kick back, relax and enjoy the space.

Here are two ideas for achieving these goals.

Fireplace: Fire features are the most popular outdoor design element, according to the American Society of Landscape Architects. This is understandable; outdoor fireplaces offer privacy, warmth and create a distinct focal point around which to gather when spending time outdoors. Outdoor fireplaces also offer a great return on investment: 90 percent of real estate agents say an outdoor fireplace increases a home’s value, according to a Houzz.com study.

One major consideration to keep in mind is the type of entertaining you want to do. Those who want the convenience of a gas fireplace may wish I

to consider clean, modern lines. Others may be looking for something a bit more nostalgic – like the scent and crackle of smoldering pine to bring back great memories and set the tone for outdoor gatherings.

(Learn more about outdoor fireplace options at Fireplaces.com/outdoor.)

Kitchen: Add ease and charm to dining al fresco by creating an outdoor kitchen.

can withstand local weather.

Outdoor friendly lighting can help you keep up the culinary adventures, even after nightfall. And don’t forget, you’ll also want to make space for a bar. Frozen daiquiris, anyone?

A patio is no longer “just a patio” these days. Elevate your outdoor living and entertaining experiences with a few stylish, functional upgrades, and add comfort and elegance to your home’s exterior spaces.

These days, it’s possible to include many of the same amenities you would find in a traditional indoor kitchen – from a working faucet and stovetop to even a dishwasher.

If space or budget are limited, think about what features matter most to you and consider working with an architect to plan the most efficient and attractive layout. Architects also can serve as a great resource when it comes to building with materials that

The Belt Team’s Mission Statement is “Changing Lives For The Better” Top 20 Realtor in the State of VA (out of 30,000 agents) Every client treated like our ONLY client. Google The Belt Team. You’ll see the difference!

Great Falls ~ $1,149,000

Build Dream Home

Call NOW FREE REPORT “42 Questions To Ask Your Realtor”

Vienna ~ $1,744,000

See how our listings sell FASTER & for MORE than average

NEW Home

(703) 242-3975 Dunn Loring ~ $499,000

Vienna ~ $1,625,000

Dedicated Seller Site & Blog: TheBeltTeam.com

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State-of-the-Art Search Site: BeltTeamRealEstate.com

Listed in Best of Washingtonian & Northern VA Magazines PROUD SPONSORS OF: Vienna Little League, Madison Baseball, Madison Boys & Girls Lacrosse, Madison Softball

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Reston Town Center | 2/2 | $549,900 Ratan Kumar / 703.757.4510 12001 Market Street #453 MLS# FX9979195

Oakton | 4/2.5 | $755,000 2 Jones Sell Homes / 703.609.7071 11003 Langton Arms Court MLS# FX9967553

Fairfax | 3/3 | $675,000 Michael Huling / 703.409.8296 3825 Hill Street MLS# FC9982742

Vienna | 5/4.5 | $1,999,990 ANNIE GREENE / 850.758.5164 1401 Wynhurst Lane MLS# FX9882270

McLean | 5/4/1 | $1,675,000 Rachel Rhi / 917.270.4989 & Lisa Moffett / 703.517.6708 7430 Old Maple Square MLS# FX9957064

Chantilly | 3/2/1 | $390,000 Nesha Khargie / 703.867.0259 43972 Vaira Terrace MLS# LO9968974

Oakton | 5/4/1 | $1,300,000 2 Jones Sell Homes / 703.609.7071 11005 Sweetmeadow Drive MLS# FX9969778

McLean | 1/1 | $230,000 Frank Lattanzi / 703.855.7630 1524 Lincoln Way #120 MLS# FX9961077

Alexandria | 5/4 | $675,000 Michael Huling / 703.409.8296 1605 Fort Hunt Court MLS# FX9910622

Oakton | 5/4/1 | $974,000 Lisa Moffett / 703.517.6708 10115 Tate Court MLS# FX9942519

McLean | 3/3/1 | $899,000 Poppy Cole / 703.304.1420 1630 Colonial Hills Drive MLS# FX9936951

Fairfax | 4/3/1 | $658,000 2 Jones Sell Homes / 703.609.7071 5100 Firethorne Court MLS# FX9967718

McLean | 4/3/1 | $1,189,000 Nesha Khargie / 703.867.0259 8218 Hunting Hill Lane MLS# FX9959927

Springfield | 4/4/1 | $869,000 Lisa Moffett / 703.517.6708 6251 Rolling Spring Court MLS# FX9961152

Fairfax | 3/2/2 | $524,900 Laura Yi / 703.244.3444 4060 Glostonbury Way MLS# FX9978872

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Centreville | 6/5 | $974,999 Michael Huling / 703.409.8296 5436 Chandley Farm Circle MLS# FX9880938

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2016 Home Purchases: Millennials Post Decline, Gen X Rises An improving economy, multiple years of strong job growth and the notable increase in home values in most markets fueled a greater share of purchases from Generation X households over the past year.

This is according to the National Association of Realtors 2017 Home Buyer and Seller Generational Trends study, which evaluates the generational differences of recent buyers and sellers.

The survey additionally found that a growing number of Millennials and younger Boomer buyers have children living at home; student debt is common among Gen X and boomer households; more Millennials are buying outside the city; and younger generations are more likely to use a real estate agent.

Much of the spotlight in recent years has focused on the several challenges Millennials are enduring on their journey to homeownership. According to Lawrence Yun, NAR’s chief economist, lost in this discussion are the numerous Generation X households who bought their first home, started a family and entered the middle part of their careers only to be rattled by job losses, falling home values and overall economic uncertainty during and after the Great Recession.

This year’s survey reveals that debt and little or no equity in their home slowed many Gen X households from

buying sooner. Recent Gen X buyers delayed buying longer than Millennials because of debt, were the most likely generation to have previously sold a distressed property and were the generation most likely to want to sell earlier but couldn’t because their home was worth less than their mortgage. Furthermore, Gen X buyers indicated they had the most student loan debt ($30,000).

“Gen X sellers’ median tenure in their previous home was 10 years, which puts many of them selling a property they bought right around the time home values were on the precipice of declining,” said Yun. “Fortunately, the much stronger job market and 41 percent cumulative rise in home prices since 2011 have helped a growing number build enough equity to finally sell and trade up to a larger home. More Gen X sellers are expected this year and are definitely needed to ease the inventory shortages in much of the country.”

The uptick in purchases from Gen X buyers this year (28 percent) was the highest since 2014 and up from 26 percent in 2016. Millennials were the largest group of recent buyers for the fourth consecutive year (34 percent), but their overall share was down slightly from a year ago (35 percent). Baby Boomers were 30 percent of buyers, and the Silent Generation

made up 8 percent.

Younger Boomers increasingly consider adult children when buying: This year’s survey also brought to light how the soaring cost of rent in many areas is likely influencing the decision of middle-aged parents to buy a home with their young adult children in mind.

Younger Boomers were the most likely to purchase a multi-generational home (20 percent; 16 percent in 2016), and the top reason for doing so was that children over 18 years old either moved back home or never left (30 percent; 27 percent in 2016).

“The job market is very healthy for young adults with a college education, but repaying student debt and dealing with ever-increasing rents on an entry-level salary are forcing many to either shack-up with several roommates or move back home,” said Yun. “This growing trend of delayed household formation is one of the main contributors to the nation’s low homeownership rate.”

Student debt is not just a Millennial problem: Debt, particularly from student loans, appears to be a portion of the household budget of buyers in every generation.

While Millennials were the most likely to have student debt (46 percent), their typical balance ($25,000) was lower than Gen X buyers ($30,000).

A combined 16 percent of younger and older boomer buyers also had student debt, with a median balance of over $10,000 for each group.

Among the share of buyers who said saving for a down payment was the most difficult task, Millennials were most likely to cite student loans as the debt that delayed saving (55 percent), followed by Gen X (29 percent) and younger boomers (9 percent).

“Repaying student debt also appears to be slowing some current homeowners who went to graduate school and now can no longer afford to sell and trade up because of their loans,” added Yun. More Millennials moving to the suburbs . . . with their kids: Similar to previous years, roughly two-thirds of Millennial buyers are married. One aspect of their household that has changed is the number of children in them.

In this year’s survey, 49 percent of Millennial buyers had at least one child, which is up from 45 percent last year and 43 percent two years ago.

With more kids in tow, the need for more space at an affordable price is increasingly pushing Millennial buyers outside the city. Only 15 percent of Millennial buyers bought in an urban area, which is down from 17 percent last year and 21 percent two years ago.

Boyer O’Dea & Grant

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Bromptons at Monument Place 1335 14th St N $1,899,000 Cosmopolitan living made simple—unparalleled residence with breathtaking views of Potomac River, Monuments and DC Skyline. Luxurious features on six levels. Elevator.

Magnificent rooftop decks. 1 mile to DC.

Lyon Park | Clarendon 711 N Barton St Upon Request Stunning contemporary, with sleek finishes; 4-bedroom/ 3.5-bath, floor-to-ceiling windows; hardwood floors & radiant heat in baths. Master Suite w/spa bath. Finished bright lower level. Convenient to shops, dining and metro.

Virginia Square 901 N Monroe St, #913 $415,000 Sunny 1-bedroom/1-bath with 9-ft ceilings. Gas cooking, fireplace & heat. Spacious balcony. Marble floors in foyer, kitchen and bath. Large walk-in closet. Washer and dryer.

Fitness center, pool and 1 garage parking space.

A SUCCESS STORY We take pride in listening to our client’s needs.

Amy was searching for both a home AND a community.

Hearing her happily announce that her son “...has been roaming the

RUTH BOYER O’DEA & SHERI GRANT 703 338 2277 | 703 405 1016

neighborhood all day with his two new friends while I’ve been unpacking boxes,” was our greatest reward.

boyerodeagrant@ttrsir.com www.boyerodeagrant.com

HOME. It’s the story of your life. Where you work, play, think and dream. Have a story to tell us? We look forward to hearing it.

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2300 Clarendon Blvd, Suite 200, Arlington 703 745 1212

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Home Flipping Remains a Pastime for Some in U.S. Home flips in 2016 accounted for 5.7 percent of all single-family home and condos sales during the year, up from 5.5 percent in 2015 to a threeyear high but still well below the peak in 2005, when 338,207 single family homes and condos were flipped representing 8.2 percent of all sales.

ATTOM Data Solutions, curator of the nation’s largest fused property database, has released its 2016 Year-End U.S. Home Flipping Report, which shows that 193,009 single family homes and condos were flipped – sold in an arms-length transfer for the second time within a 12-month period.

Homes flipped in 2016 sold for a median price of $189,900, a gross flipping profit of $62,624 above the median purchase price of $127,276 and representing a gross flipping return on investment (ROI) of 49.2 percent.

Both the gross flipping dollar amount and ROI were the highest going back

to 2000.

“Home flipping was hot in 2016, fueled by low inventory of homes in sellable or rentable condition along with a flood of capital, both foreign and domestic, searching for the returns and stability available with U.S. real estate,” said Daren Blomquist, senior vice president at ATTOM Data Solutions.

“The combination of more home flips and a greater share of financing for flip purchases resulted in a 18 percent jump in the estimated dollar volume of financing for home flip purchases, up to $12.2 billion for the flips completed in 2016 – a nine-year high.”

The report also shows that 126,256 entities — including both individuals and institutions — flipped homes in 2016, up less than 1 percent from 2015 to the highest number since 2007, when 143,266 entities flipped properties.

Meanwhile, the share of flipped homes that were purchased by the

flipper with financing increased to an eight-year high of 31.5 percent in 2016 while the median age of homes flipped increased to 37 years, a new high going back to 2000, and the median square footage of homes flipped decreased to 1422 — a new record low going back to 2000.

“Investors in search of flipping returns are increasingly willing to move to secondary and tertiary housing markets and neighborhoods with older, smaller properties that are available at a deeper discount,” Blomquist said. “Given that many of these markets are more affordable, we are also seeing a higher share of the flipped homes sold to FHA buyers, with that share reaching a four-year high of 19.6 percent in 2016.”

Among 117 metropolitan statistical areas with at least 250 home flips in 2016, there were 11 with an average gross flipping profit of $100,000 or more in 2016.

“Our strong wage growth is still supporting rising home prices,” said Matthew Gardner, chief economist at Windermere Real Estate, covering the Seattle market. “I believe flipping serves as a negative for any housing market because it further erodes housing affordability, but if there’s a demand for it in the market, it’s a trend we will continue to see.”

In the Los Angeles metro area, which accounted for six of the 39 zip codes with a home flipping rate of at least 20 percent in 2016, the best opportunity for flipping is in lower-priced neighborhoods with properties that need significant repairs, according to Brett Chotkevys, co-founder of Helpful Home Solution, which flips properties in Los Angeles and other parts of Southern California.

“We do pretty much a full gut on the houses we buy. Most of those we buy are pretty nasty. They’re falling down,” said Chotkevys.

Realtor Q&A: Are Good Sales Skills Transferable?

Continued from Page 4 continue to sharpen our communication skills that are so important as the first step in any negotiation. Yet, we must always be mindful that the first rule of negotiation is to work on and protect our relationships with others.

These skills are transferable to other sales fields.”

Carol Temple, Coldwell Banker: “The ability to anticipate and work defensively for your client is a trait that top-performing Realtors should possess. A second important skill is a heightened ability to manage an overload of details. A third is the ability to defuse emotionally charged situa-

PUBLISHER’S NOTICE

EHO

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

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

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

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

tions. All of these should serve a salesperson well, regardless of what they are selling. The secret sauce, though, is passion about what you are doing.

Truth is that I would not be terribly passionate about selling printer toner.

It would show and I would get fired.”

Diane Lewis, Washington Fine Properties: “A background in real-estate sales is a great background for any sales position. It prepares you for long hours, a need for good time-management, attention to details and, most importantly, care and compassion to your clients.”

Joan Stansfield, Keller Williams: “Stripped down, sales skills are the same no matter the industry. Consistent service and communications based on relationship skills has been critical to my success. These people and service skills would transition well to positions like orchestrating and serving people and events where there are big emotions and lots of varying people with -different person-

alities and goals.”

Natalie Roy, Keller Williams: “Selling real estate is a great way to build and improve sales skills in any field.

These skills include being customerfocused, tracking the latest trends, adapting to a fast-paced environment, staying updated on the latest technologies and sales techniques and, of course, the ever important multi-tasking. Even in the 21st century with the wide range of technology available, the most effective sales technique is person-to-person interaction.”

Barbara Lewis, Washington Fine Properties: “Actually, everyone is in sales. Doctors sell themselves to patients and want them to return, lawyers sell themselves to attract clients, stores have employees greet customers so they will want to do business in the store, we are all in sales. Real estate is unique in that agents are independent contractors and therefore have a lot of flexibility in running their own businesses. Long hours, compassion

South Is Home to Fast-Growing Locales Continued from Page 3 0.2 percent.

• Western small towns saw the largest growth with an increase of 0.8 percent.

Mid-sized cities in the Northeast, places with populations between

5,000 and less than 10,000, experienced relative stability, seeing a small average decline of 0.1 percent since the 2010 Census. Mid-sized cities in the other regions experienced population growth, on average.

League City, Texas, was the only city to cross over the 100,000 population

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and attention to details are what it takes to succeed in every profession.”

Valerie Grange, McWilliams Ballard condo resales division: “Both an art and a science, success in any form of sales simply requires the perfect balance of people skills and the practical application of meeting a client’s top needs, goals and desires. Especially in real estate, if you can help someone with the most important purchase in their lives, you can most definitely assist them with any other endeavor.”

Timur Loynap, McWilliams Ballard condo resales division: “I absolutely believe that the skill set that one obtains as a real estate agent is transferable. The bedrock of a successful real estate career is the ability to build relationships and in the process earn the trust, confidence and loyalty of clients/customers. Successful sales people must be able to articulate and present themselves and their product thoughtfully, competently and compellingly.”

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mark in 2016, reaching 102,010.

Five cities crossed the 50,000 population mark between 2015 and 2016.

All five areas are in the West: Aliso Viejo, Calif. (51,424); Parker, Colo. (51,163); Logan, Utah (50,676); Cerritos, Calif.

(50,555); and Coeur d’Alene, Idaho (50,285);

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