Washingtonian's "75 Best Bars" Highlights 5 in Arlington

There's always somewhere new to explore in the Washington, D.C. area, and the March issue of the Washingtonian highlights some new ones. Of the 75 "Best Bars" in the area, 5 from Arlington were ranked. They are:

Eatbar (adjacent to Tallula) - 2761 Washington Blvd, Arlington - 703.778.9951

Liberty Tavern- 3195 wilson boulevard, arlington - 703.465.9360

Guarapo - 2039 Wilson Blvd. Arlington - (703) 528-6500

Carpool - 4000 Fairfax Drive, Arlington VA - (703) 532 7665

Galaxy Hut - 2711 Wilson Blvd, Arlington - (703) 525 - 8646

Jaleo was an honorable mention(they have 3 locations throughout the area) for having the
best sangria.

Cafe Asia was ranked as having the best happy-hour specials. (Their sushi isn't bad either!)

Spring Real Estate in Arlington, VA - A Price War!

As we near the end of March (where does the time go?) and great ready for April, I decided it was time to revisit some Arlington statistics. I pulled some stats on Single Family Homes in the zip code: 22207 (Country Club, Country Club Hills, Lee Heights, Berkshire Oakwood, and more of the neighborhoods around North Arlington). I only pulled these stats for 22207 because the numbers for all of Arlington vary. I'm happy to research and explain the different trends throughout the county.

2007 2008 2009
Contracts Ratified
January 3 14 10
February 34 27 9
March 47 23 21 (so far)
April 30 32 TBD

Average Sale Price $873,603 $877,244 $739,607

Average Days On Market 99 73 64

Total Sales 94 55 25 (so far with 33 more under contract)

So what do these numbers tell us? Prices are a little lower strictly based on statistics because fewer of the higher end priced homes (think over $1M) are selling. Because jumbo money is harder to come by these days, the lower priced homes are selling more frequently and faster. Sales this year are lower than in years past, but it's still a buyers market. Things are selling faster because prices are better and interested buyers are moving quicker.

Some observations on the local market that can't be captured by statistics. There are so many homebuyers out there looking right now. People looking to capitalize on the new tax credit, historically low interest rates, and lower prices. I've seen multiple offers on properties within days of coming onto the market. Now is the time to start looking and exploring your options for buying! April and May look to be busy times in the Northern Virginia and Washington, D.C. real estate markets.

For sellers, price is everything. There are people who want to buy your house!

2009 Cherry Blossom Festival - March 28 thru April 12

Every year in Washington, D.C. we welcome the beginning of Spring with the National Cherry Blossom Festival. The event commemorates the 1912 gift of the cherry blossom trees to the US from Japan, in recognition of the enduring friendship between the two countries.

2009 Dates will run beginning March 28th thru April 12th.
They predict peak bloom period to be April 1st thru the 4th.

Location Information:
401 F Street, NWTake Metro to Judiciary Sq Station, Red Line

Opening Ceremony:
Saturday, 3/28, 4 - 5:30pm

Event Scheduled:
Visit the NCBF Website for schedule details.

2009 Washington Nationals - Let's Go Nats!

"Take me out to the ball game,
Take me out with the crowd.
Buy me some peanuts and cracker jack,
I don't care if I never get back,
Let me root, root, root for the home team,
If they don't win it's a shame.
For it's one, two, three strikes, you're out,
At the old ball game."

It's that time of year again!!! Baseball season! The Washington Nationals are set for their Home Opener against Philly on April 13th at 3:05 pm

So far in Spring Training this year, the Nats are 9-12 (a better start than their 59-102 record last year!)

If you're looking to buy tickets, or check out their game lineup, check out their Schedule here.
If you didn't get a chance to check out the new stadium last year, make sure you make an effort to surpport the guys this year. It's very easy to get to from the Navy Yard (Green Line) Metro Stop (just be prepared for long lines to get on the metro).

Good luck in 2009 Nats!

Selling Stats for Arlington County, Virginia - Priced Well and Selling Fast!

My Falls Church Selling Statistics blog inspired me to run the same stats for Arlington County since the beginning of 2009. The stats below are for any listing in Arlington County (condo, townhome, or single family):

Since 1/1/09:
265 properties have sold
38 (14%) sold in 7 days or less101 (38%) sold in 30 days or less
287 properties are currently under contract and waiting to close

53 (19%) went under contract in 7 days or less
110 (38%) went under contract in 30 days or less

I am seeing activity pick up as many first-time buyers are looking to take advantage of the new $8,000 tax credit (FYI - if you haven't bought anything in 3 years, they look at you like a first-time buyer and are eligible for the credit). In this market, every buyer is looking for a good deal on their purchase....giving them a great price is a great way to solicit offers from buyers.

Falls Church, Virginia - Selling Fast and with Multiple Offers!

This weekend when I was out with some new buyers in Falls Church looking at homes, we had to opportunity to see a brand new listing, 1 day old, on a great house. The listing agent had under priced the property by about $30-$40k in order to sell the house quickly...and that he did.
The house, sold "as-is" by the current owners, had 6 contracts in 2 days (1 on the first day).

This inspired me to look at some of the neighborhood numbers for Falls Church:

Of the 187 Sold listings since January 1st:
25 (13%) sold in 7 days or less62 (33%) sold in 30 days or less

Of the 252 listings currently under contract:
44 (18%) sold in 7 days or less98 (39%) sold in 30 days or less

Those are HIGH! I heard a great analogy for this market, and since I didn't come up with it - I can't take credit for it. Selling in this market is like:

"A price war in a beauty market"

What does your house have to offer a buyer? How much value does that give them over the competition? How quickly do you need or want to sell your house? Those are all important questions when getting ready to sell...

Restaurant Spotlight: Mamma's Kitchen in Alexandria

I had the pleasure of trying out Alexandria's new Italian/Greek/American restaurant - Mamma's Kitchen. Open just 6 weeks now, the restaurant was busy, the service was great, and prices affordable. Here's a snippet of the menu:

Appetizers (Tzatziki w/pita, Hummus w/pita, Calamari, Fries, and more)

Gyros (Beef, Lamb, Chicken, Original)

Gourmet Pizzas with any topping you want: PEPPERONI, ITALIAN SAUSAGE, HAM, BACON, GROUND BEEF, GYROS MEAT, ANCHOVIES, Fresh MOZZARELLA, FETA CHEESE, PROVOLONE, RICOTTA, GREEN PEPPERS, ONIONS, BLACK OLIVES, MUSHROOMS, ROASTED RED PEPPERS, BROCCOLI, BABY SPINACH, FRESH GARLIC, SUN DRIED TOMATO, EGGPLANT

Paninis (I had the CHICKEN, SPINACH, PORTOBELLA & CHEESE - excellent!!)

Subs (Italian Sub, Chicken Cheesteak, Steak & Cheese, Chicken Parm...etc)

Sandwiches (Reuben, Club, Hamburger, Cheeseburger, and more)

Pastas (Moussaka, Lasagna, Chicken Parm, Chicken Florentine, and more)

Desserts (Baklava, Flogeres, Cheesecake, Tiramisu, and more)

Where: 7601 Fordson Rd off Rte 1
Alexandria, VA

Enjoy!!

What Was I Thinking? I Turned Down A Listing?

Much to my dismay, I still can not believe I walked away from a listing priced near $1M. Why did I walk away? Because that's about $130-$140k over what it's currently worth.

I just celebrated my 1 year anniversary as a licensed agent in Virginia. So needless to say I get excited at every opportunity I have to work with either a buyer or seller in this market. So this weekend when I was holding an open house in Arlington, I had a neighbor come through with a few questions about selling. Much to my surprise, I learned she was trying to sell her house herself - with no luck. She invited me to her house for a 2nd opinion of her price and techniques. Before going to the meeting, I pulled some comps to support my opinion of her pricing.

After Mrs. Seller showed me her wonderful house, which is in a prime location for Arlington.

We began some dialogue about pricing and how the market has been in North Arlington. It became very clear to me almost immediately that Mrs. Seller and I would not be coming to an agreement on price. Unfortunately, my analytical mind lets the market determine how much I think we should price the property - with influence on their motivation. So after much deliberation, I was very honest with her and said,

"I'm afraid I don't think I can sell your house for the value you're looking for. I fear that you will be unhappy with me when/if I can't sell it for that price, therefore, I think it would not be in our best interests to work with each other. However, if your situation changes, and you're willing to reconsider, I would love the opportunity to talk with you again."

I got into real estate to help people buy and sell their homes. In taking a listing I knew was overpriced, I believed I would be doing both of us a disservice. In this market, it's a "price war in a beauty pageant."

Luxury Living in Arlington, Virginia: The Dakota Condos

Built in 2002, this 14-unit luxury condo building is located at 1555 Colonial Terrace in Arlington, Virginia, near Rosslyn. The 7-floor building features 2 bedroom, 2.5 bath units with open floor plans, high-upgrades, and beautiful views of Georgetown. Units feature garage parking, balconies/decks, and so much more.

(map courtesy of maps.google.com)

The Dakota is surrounded by other condos and townhomes, and is ideally located near the Rosslyn Metro, and I-66 and Rt 29 into Georgetown and the District of Columbia.

Curious about prices? Penthouses range upwards of $1M, and lower levels are upwards of $600k.

At the end of January the numbers indicated that prices were about 20% lower than those of January 2008. If you're looking to broaden your investment portfolio to add some real estate, now is definitely the time to start looking! With changes on the horizon, some people will greatly benefit from the tax breaks and incentives the stimulus bill offers.

So why not work with an REO (Real Estate Owned, i.e. Bank Owned) Specialist? I recently received a certification from the Loss Mitigation Institute as a Certified REO Specialist. Over 50% of my buyer activity last year was focused on foreclosures in Arlington, Alexandria, Falls Church, and Woodbridge.

Looking to learn the difference between a Short Sale - Foreclosure Auction - Bank Owned Property? Let's talk about it!

Arlington Virginia Real Estate Sales 2009 Year to Date

I can't believe we're already into March! Nor can I believe it actually snowed on March 1st and 2nd!! Here the numbers for January and February 2009 (as of 3/2/09):

Total Arlington Sales: 209
22201 - 23
22202 - 15
22203 - 30
22204 - 58
22205 - 14
22206 - 28
22207 - 22
22209 - 15
22213 - 4

Did you know the even zip codes (22202, 22204, 22206) are the South Arlington Zip Codes? All of the other Zip codes are North Arlington.

22201 - Of the 23 sales, 4 were townhomes, 14 were condos, and 5 were single family homes.

22202 - Of the 15 sales, 5 were single family homes, 6 were condos, and 4 were townhomes.

22203 - Of the 30 sales, 8 were single family homes, 3 were townhomes, and 19 were condos.

22204 - Of the 58 sales, 15 were single family homes, 15 were townhomes, and 28 were townhomes.

22205 - Of the 14 sales, 12 were single family homes, 2 were towhnomes, and none were condos.

22206 - Of the 28 sales, 2 were single family homes, 19 were townhomes, and 7 were condos.

22207 - Of the 22 sales, 15 were single family homes, 4 were townhomes, and 3 were condos.

22209 - Of the 15 sales, none were single family homes, 2 were townhomes, and 13 were condos.

22213 - Of the 4 sales, 1 was a single family home, 1 was a townhome, 2 were condos.

Who had the most expensive sale? 22207 - in Lee Heights for just over $1.44M

Look for more specific market data by zip code to follow.

Some Monday Morning Inspiration! Art Williams on Winning in Business - "Do It"

This morning I woke up to a blizzard in Arlington, Virginia - you know the type of morning that makes you want to crawl back into bed and sleep? It's mornings like today that need extra motivation and inspiration. Below is a video of Art Williams, a billionaire and found A.L. Williams & Associates, known as Primerica Financial Services since 1991. This speech, titled "Do It," was delivered in 1987 to the National Religious Broadcaster Convention. It's interesting to hear him talk about the "current" economic situation back in 1987, compared to the similar times we're facing now. I hope you enjoy this little bit of motivation:

Watch Art's speech, here.