Who Is Responsible for Main Supply Lines?

Question: We bought an older home with original water and sewer lines. Who is responsible for the maintenance and replacement of these lines and how do I know if there’s a problem?

Answer: You are responsible for the main plumbing lines for water and sewage running between your home and the public lines. In most cases, the gas company is responsible for everything to and including the meter (attached to your home) and you’re responsible for the lines after the meter.

The main lines are usually buried under your front yard and replacement costs (water and sewage) often start at a couple thousand dollars and can easily exceed $10,000. Costs vary based on some key factors including:

  • Distance from the public line to your home
  • Pipe material
  • Type of excavation/installation (difficulty in digging up old plumbing, # of turns in new pipe)
  • Cost to return landscaping to original state (this is on you, not the County)

In most cases, Washington Gas will return your property/landscaping to its original condition, including hardscape and your lawn (even your driveway), after excavating for repair or replacement. It’s not a bad idea to find out where your gas supply line is and plan landscaping with that in mind.

Identifying Problems

The life expectancy on many of the most common materials used for main plumbing lines range from 50-100 years, but tree root growth, unnatural disturbances like new landscaping, corrosion, and pressure build-ups can cause leaks, blockages, and other damage that you should monitor.

The most effective and most expensive way to look for problems is to hire a plumber to scope the lines with a camera to see if there are any issues. The cost of doing this often exceeds $500 per line, but can give you piece of mind or early warnings of a problem.

If you don’t want to pay a plumber to scope your lines, you can monitor for signs of a problem:

  • Water Line: higher water bills, lower water pressure, flooding in yard when there isn’t rain
  • Sewer Line: slow drainage/clogs in multiple areas of the house, foul smell inside or outside, odd behavior from plumbing like bubbling sounds
  • Gas Line: if you smell a gas/rotten egg odor, hissing sound from a gas line/meter, hazy/cloudy near gas line, plants dying, issues with gas-powered appliances

Good To Know

Here are some other helpful tips regarding the main lines for water, sewage, and gas:

  • HomeServce USA, through Dominion Energy, offers insurance protection for the water supply line, sewer line, and in-home gas lines
  • In most cases, you can expect the gas company to have a utility easement on your property which allows them the right to access your property for repairs or replacement as needed. Check your survey/plat to verify this right of access.
  • Polybutylene pipes (grey plastic) were used from the 70s-90s and prone to breakage. If your sewer lines is Polybutylene, consider replacing them now.
  • Lead pipes (dull grey) were used in the early 1900s for water supply lines and risk leaching lead into your drinking water and should be tested or replaced
  • CSST (Corrugated Stainless Steel Tubing) became popular for gas lines in the early 90s and is often not property bonded which means a lightning strike can blow a hole in your gas line. Bonding your gas line is simple enough that most home owners do it themselves, although I must recommend you use a qualified Electrician.
  • These days, PVC/CPVC are the most common piping for the main water and sewer lines instead of the heavier cast iron/galvanized steel options that used to be the standard. Copper is still a popular choice for water lines, but more expensive and more difficult to install.

If you’d like to discuss buying, selling, investing, or renting, don’t hesitate to reach out to me at Eli@EliResidential.com.

Financing a Major Remodel or New Construction

Question: We are deciding between buying a lot to build a new house on or expanding and remodeling our current home. Do you have a recommendation for a lender who can finance these projects?

Answer: Over the years, I’ve found that one of the best banks for construction or major remodeling loans, and a favorite amongst local builders, is Sandy Spring Bank. They are large enough to offer some excellent, customized products with great rates and local enough that relationships with builders and homeowners matter to the success of their business. That’s usually a good combination for a business, especially lenders.

I have worked with Skip Clasper (sclasper@sandyspringbank.com), a loan officer at Sandy Spring Bank, for years so I reached out to him to gather up some details on their popular construction and remodel loan products.

Remodel Loans

Sandy Spring Bank will give you a loan to finance the cost of your remodeling project based on the expected post-construction value of your home. Given how high market values are now, that means you can get a significant amount of financing to expand and remodel your home.

There are a few things that stand-out about the way Sandy Spring Bank handles these loans:

  • They offer 90% loan-to-value (LTV), meaning you can get financing for 90% of the future value of your completed home. Most banks limit their loans to an 80% LTV.
  • They accommodate a flexible draw schedule. Banks give borrowers/builders draws to pay for construction incrementally as the project progresses. Many banks offer their draws on a fixed schedule, but given the unexpected twists and turns construction can take, a flexible draw schedule makes for a better process for everybody.
  • You only pay interest on the money you have drawn from the loan so you only pay interest on the money you’ve used, not the money you will use
  • Interest rates are competitive with rates you will find on standard, non-construction loans. This is noteworthy because oftentimes specialized loan products require paying higher interest rates.

Construction Loans

A construction loan allows buyers more control over building a new home because it allows you to finance the purchase of the lot and construction yourself. That means you can purchase the lot you want (easier said than done) and choose the builder you work with, as opposed to hoping that the builder who acquires a lot you like is also a builder you want to work with.

Here are some highlights and key pieces of information about the Sandy Spring Bank construction loans:

  • You can purchase a tear-down/lot and finance the construction of your home with a single closing. After closing on the tear-down/lot, they will finance the construction, and then the loan will automatically convert into a permanent 30-year loan after the construction is completed.
  • The loan is interest-only until construction is completed, making your payments during the construction phase much lower
  • Sandy Spring allows cross-collateralization on construction loans, meaning they will include equity in your current home towards your future down payment when considering your loan application/qualifications for your construction loan
  • It will take 6-8+ weeks to finalize the loan on your tear-down/lot purchase, which may put you at a disadvantage in some cases if you are competing against buyers or builders who are paying cash or using a standard loan product that can close faster
  • All construction loans are Adjustable Rate Mortgages (ARMs), but can be refinanced into a fixed rate mortgage with a second closing
  • Interest rates are competitive with rates you will find on standard, non-construction loans. This is noteworthy because oftentimes specialized loan products require paying higher interest rates.

If you’d like to talk with Skip Clasper about Sandy Spring’s remodel, construction, or other loan products the best way to reach him is by email at sclasper@sandyspringbank.com or phone at 301-928-7523.

Expect Short-Term Increase in Listing, Contract Activity

Question: Will I see more homes being listed for sale in the fall or is there a stead drop in sales activity until next year?

Answer: It is completely normal for the market to slow down (pace of listing activity and contract activity)  during the summer, but it was discussed much more this year because the preceding months were so crazy, locally and nationally, and everybody is on high alert to a potential bubble.

Nothing I have seen so far has suggested that the change in market conditions over the last couple months is anything more than normal seasonal behavior, so I expect the next couple months to lead to similar seasonal patterns as in years past (except for 2020).

This means a quick bump in post-Labor Day listing activity and contract activity, followed by a steady drop in both measures through the end of the year.

The chart below shows monthly listing and contract activity as a percentage of total annual activity for Arlington from 2015-2019, broken out by single-family homes (SFH)/townhouses (TH) and apartment-style condos/coops. The following bullets are some highlights I pulled from the data:

  • The September bump in listing activity only lasts for a couple of weeks before starting a steady decline through the end of the year
  • The SFH/TH and condo markets behave similarly, but the changes in condo activity aren’t as extreme as the SFH/TH market. The spring peaks and summer lull are closer to average for condos, meaning seasonality plays less of a role in the condo market than the SFH/TH market.
  • The bump in post-Labor Day SFH/TH contract activity outlasts the short, but more extreme, burst in listing activity
  • From October-December, contract activity actually exceeds new listing volume, but this generally does not lead to better sales results during this time of year
  • The four months from March-June account for nearly 46% and 43% of annual SFH/TH and condo listing volume, respectively, and almost 44% and 40% of annual SFH/TH and condo contract activity, respectively.

If you’d like to discuss buying, selling, investing, or renting, don’t hesitate to reach out to me at Eli@EliResidential.com.

Should You Stage Your Home?

Question: Do you recommend staging for vacant homes?

Answer: When you stage a home, you are placing temporary furniture and accessories in a home while it is being marketed for sale. In most cases, I strongly encourage staging a home instead of leaving it empty.

The value of staging shows up in two critical parts of the selling/marketing process. It improves the quality of the photos by helping people understand the scale and purpose of a room. Better photos lead to more showings. Good staging also improves the way Buyers experience the home in-person during a showing. Better showings lead to better/more offers.

Figure 1: Great staging helped Buyers make sense of an otherwise large, open space at 3196 N Pollard St Arlington

In my opinion, the three main benefits to staging a home are:

  1. Add Life to Empty Homes: Walking into an empty house can be eerie and makes a home feel lifeless. Those are not feelings you want potential Buyers to have while walking through your home. Good staging can add energy and life to a vacant home.
  2. Help Rooms Feel Larger: This is counterintuitive, but most people perceive empty rooms as being smaller than they really are. I’ve experienced this on numerous occasions walking through empty rooms with Buyers who have trouble understanding how a bed or couch can fit into an empty room that is more than big enough for their furniture.
  3. Engage the Eye: Well staged properties keep Buyers engaged with room layout and functionality, but unstaged empty rooms allow Buyers to focus on flaws like paint scuffs, separating trim, poor lighting, and other things you’d prefer Buyers to overlook during their visit

You do not need to stage every room. In a larger townhouse or single-family home, that can get unnecessarily expensive. Prioritize the most important rooms like the living room, dining room, and primary bedrooms for the best return on investment. Accessorizing walls, countertops, and shelves also adds a lot of value.

Figure 2: Don’t forget about staging for outdoor spaces like this patio at 4645 4th Rd N Arlington

Good staging isn’t cheap, often ranging from ~$2,000-$10,00+ depending on the size of a home and type of staging furniture, but it should be looked at as an investment like anything else you do to prepare your home for sale like painting, cleaning, and landscaping. As a rule of thumb, I think that investing .25-.5% of the market value of a home generates a clear, strong return.

Cheap, thoughtless staging provides little or no value at all. Sticking a chair or two in the living room or simply laying a blow-up bed on the floor of a bedroom are not the same and provide little, if any, benefit.

If you intend on living in your home or leaving your existing furniture for the sale (photos and showings), consider “occupied” staging, whereby you hire a stager to help you maximize the use of your existing furniture and accessories. Just promise not to get offended if they recommend removing your favorite lime green shag carpet 

ies from the owner, with some add-ons from the Stager, in a great example of a successful Occupied Staging approach at 1276 N Wayne St #1230 Arlington

If you’d like to discuss buying, selling, investing, or renting, don’t hesitate to reach out to me at Eli@EliResidential.com.

Demand Drops Regionally, Remains Competitive

Question: Is the housing market slowing down?

Answer: Over the last 2-3 months I’ve experienced a noticeable slowdown in the single-family and townhouse market relative to what we’ve experienced most of the last 12+ months. While slower than it has been, the market is still very competitive, and prices are holding.

Properties that would have gotten 8-10+ offers a few months ago might get 2-3 now. Escalations over asking are still common, but less extreme. And in some cases, Buyers can secure modest contingencies (inspection, appraisal, financing). I believe the main factors in this change are:

  • Buyers have distractions they didn’t have for much of the lockdown (vacations, events, commute, etc)
  • Asking prices are more reflective of market values now that 6+ months of closed sales in 2021 are available for market pricing analysis
  • Some Buyers have given up after months of struggling to find/win a home
  • Normal seasonal behavior. Demand usually subsides in the summer, relative to the previous spring.

Home Demand Index Readings

To put the receding demand into perspective, I pulled out some charts from the most recent Bright MLS Home Demand Index, which tracks regional and local demand by analyzing data ranging from buyer showing activity to closed sales to feedback from local real estate agents.

Demand in the overall Washington DC Metro housing market dropped 17% from June to July and 13% year-over-year. The July 2021 Demand Index reading of 123 is lower than the Demand Index reading in 10 of the last 14 months, with the four months from November 2020-February 2021 being the only months with lower readings since May 2020. July 2021 is also the first month with a year-over-year decline in demand over the last 12+ months.

Home Demand Index

The Index uses the same price ranges to track demand across all Bright MLS market centers (DC, Baltimore, Philadelphia) so the price ranges aren’t the best for the DC Metro/Arlington, but still provide a good indication of regional and local demand trends.

The Demand Index for single-family homes $395k-$950k dropped 19% from June to July and 9% year-over-year. For single-family homes over $950k, the Demand Index dropped 29% from June to July and just 2% year-over-year.

While these reports show significant drops in demand recently, the actual demand is still very high and is enough to support recent price appreciation.

Single Family Home $395K-$950K
Single Family Home Above $950K

Listing Volume Still High

The number of condos listed for sale over the last 12 months is significantly higher than any other 12-month period we’ve seen in Arlington, but July listing volume settled down to finish closer to historical averages than we’ve been seeing. This is a sign that the surge in condo supply may be tapering off while we’re also seeing condo demand increase relative to the 2nd half of 2020 and early 2021.

High market values and changing housing needs have also led to an increase in the number of single-family homes listed for sale in Arlington lately, but that volume is much closer to the historical average than what we’ve witnessed in the condo market. It also does not seem like it to most Buyers because demand has quickly absorbed the extra supply.

New Listings In Arlington County

Looking Ahead

There’s usually an increase in demand and homes listed for sale after Labor Day and I expect to see similar seasonal behavior this year until we reach the winter/holiday market starting around early November when demand and listing supply both tend to retract.

Historically, it has taken until late February/mid March for demand and listing volume to ramp up towards their spring peaks, but the last few years we’ve seen the ramp-up period, especially for demand, start in January. I expect a similar pattern next year, but will be surprised to see anything like the double-digit price appreciation that we experienced in 2021 repeat in 2022.

If you’d like to discuss buying, selling, investing, or renting, don’t hesitate to reach out to me at Eli@EliResidential.com.

Arlington Condo Mid-Year Review

Question: How has Arlington’s condo market performed in the first half of 2021?

Answer: Given the tremendous appreciation we’ve seen locally and nationally on prices for single-family homes and townhouses, the mostly unchanged values of condos in Arlington highlights how much the condo market has struggled compared to the rest of the housing market. We did experience some periods of value loss in the last quarter of 2020 and early in 2021, but the first half data (and my experience in the market) suggests that prices have recovered and leveled out to about the same values we saw in 2019.

The biggest question I have is whether we will sustain these prices or see a slow decline as people adjust to new work arrangements and housing preferences in the wake of COVID. While it’s possible that we could see a delayed price surge due to sustained low interest rates and returns to offices, I think that scenario is unlikely.

This week we will take a look at Arlington’s condo market in the first half of 2021. Note that the data does not include Cooperatives (e.g. River Place) or age restricted housing (e.g. The Jefferson).

Prices Relatively Flat, Listing Volume and Inventory Up

I think the biggest story in the condo market for Arlington and the DC Metro area is the historically high number of condos being listed for sale since Q3 2020. There is clearly a flight out of condos by homeowners and investors and the demand is not high enough to absorb the extra supply, so inventory levels have returned to 2015-2016 levels when we were in the midst of a near zero-growth condo market (in Arlington).

The return to 2015-2016 inventory levels isn’t a bad thing, but the suddenness of that shift was difficult for sellers to manage after we experienced a red-hot condo market from late 2018 (Amazon HQ2 announcement) to early 2020 (pre-pandemic).

Demand Metrics Down, Disaster Avoided

Demand metrics like days on market, percentage of homes selling within a week, and the percentage of sold price to the original asking price are all down to 2017-2018 levels (pre-Amazon announcement) and prices are more reflective of what we saw in the first half of 2019.

During the pandemic, there were concerns of a fundamental shift in the condo market that would lead to a significant re-pricing of condo values but that’s clearly not the case. Sure, it’s tough for condo owners to take a step backward while the single-family/townhouse market surges ahead, but the condo market looks to be recovered and safe at this point.

If you’re interested in seeing last week’s mid-year analysis of the single-family housing market, you can check it out here.

If you’d like to discuss buying, selling, investing, or renting, don’t hesitate to reach out to me at Eli@EliResidential.com.

Question: Are there certain considerations to be aware of when re-listing your home in the spring/summer market if you listed and then pulled it during the fall/winter market? Are there things that you would need to fix up in a slow winter market that you could let slide in a hotter market?

Answer: You’ve been on the market for months, had a few interested buyers, but nothing has stuck. Now you’re in the midst of the holidays during the coldest and darkest days of the year so you’re asking yourself what every seller is asking… should you pull your listing and wait for the market to heat back up in the spring?

There are three scenarios that I’ll consider advising sellers to take their home off the market during the winter:

  1. You are living in the home, are under no pressure to sell, have been on the market for more than 60 days without an acceptable offer and have exhausted conversations with any buyers who have shown interest.
  2. You have received feedback from agents and potential buyers that the home needs work and you will take time over the winter to make the necessary improvements, providing that the cost of those improvements will net you better terms than an immediate price reduction and avoiding additional carry cost.
  3. A key selling point of your home is landscaping and/or a view that is difficult to recognize during the winter.

Pros & Cons Of Re-Listing

  • Pro: More Buyers… The number of homes that go under contract drops substantially from November-January and picks up quickly in February. On average, the number of new purchase contracts more than doubles by March compared to December and January.

 

  • Pro: Faster Sales… The increase is buyer activity (demand) results in homes selling a lot faster in the spring/summer

 

  • Con: Not Necessarily Higher Prices… The increased buyer activity impacts days on market a lot more than it does pricing. The amount somebody is willing to pay or qualified to pay for a home often does not change based on the season, rather larger economic factors.

 

 

  • Con: If you decide to re-list in the spring, you are probably planning to do so at a higher price. Be careful with this decision because agents and buyers have easy access to previous asking prices and if you have not made any substantial capital investments to your home to justify the increase, most buyers will base their negotiations on your previous asking price, not the new/higher one.
  • Pro: If you’re off-market for three months or more, your days on market count officially resets to zero when you re-list. This is a system rule for MRIS/BRIGHT (the database of record for agents), although most buyers use sites that show the full listing history and can easily see that something was withdrawn and re-listed.

The Spring Isn’t Easier

Don’t ease up on the marketing of your home in the spring just because there are more active buyers than the winter. You will be competing against 2-3 times more homes for sale so you could make a case that you need to do even more to stand out in the spring, not less. However, if you’re on a budget, you may want to allocate your repair, improvement and staging funds differently based on the season such as the warmth of the family room in the winter vs outdoor dining in the spring.

Happy holidays everybody!

Question: I came across an article you wrote about how buyers and sellers can avoid the most common problems encountered in a real estate transaction and it made me wonder what some of the most common mistakes are that home owners make when selling that have the biggest impact on their bottom line.

Answer: The biggest mistake a home owner can make when selling their home is not calling me first… kidding (but not really). Below are a handful of the biggest mistakes I see home owners make when selling their home, that have the most impact on their net bottom line. This is not exclusive to homes sold without an agent either. Unfortunately, I see many of the same mistakes on For Sale By Owner (FSBO) homes as I do on listings owners are paying an agent to manage.

Over-Investing In Updates

Choosing the right combination of updates to invest in (or not) to prepare your home for sale has the biggest impact on your net bottom line of any decision you’ll make. I cannot stress the importance of getting this decision right early in the process.

You should only invest in updates that will result in an ROI of greater than 100% or it’s a waste of money and time. Of course you will be able to sell your home for more money if you redo the kitchen and master bathroom, but in most cases, you’ll only get a fraction of your money back, generating a huge net loss for you.

Similarly, don’t spend $10,000 replacing floors, but ignore painting and leave your old brass doorknobs. Selecting the right “package” of updates that will generate the highest ROI is specific to your sub-market, budget, priorities and time of year.

Working with an agent on these decisions who works with both sellers and buyers is critical because they have a strong understanding of how buyers interact with homes during showings and the impact certain updates have on their buying decisions.

Stop Using Amateur Photography

My photographers are some of the most valuable assets I have because the quality of photos can make the difference between drawing heavy traffic and being passed over… Traffic = offers and heavy traffic = multiple offers. Buyers and agents are combing through a lot of homes to decide what is worth seeing in person and the quality of your photos influences that decision more than anything else. Do not take pictures with your cell phone. Do not use an amateur photographer. Do not use a photographer without real estate experience.

Listing On The Wrong Day

It’s Sunday evening… you’ve taken pictures, selected your asking price and spent all weekend cleaning so you’re finally ready to put your beautiful home on the market, make yourself a drink and watch the offers roll in. STOP. There is one day of the week that you should put your home on the market to maximize exposure while minimizing days on market (and two acceptable alternatives), but Sunday evening is not one of them. Feel free to email me to find out which day you should list your property and why.

Stage It… Vacant Or Not

I discussed this in detail earlier this year. It hasn’t changed. Yes, you should hire a staging professional.

Don’t Be Offended By The Home Inspection

You raised three amazing children in your home and kept up with regular maintenance for 25 years, so who is this buyer and their inspector to tell you there are 35 items that need to be repaired? It’s hard not to take the results of a home inspection and the resulting buyer requests (read: demands) personally, but you’ll be much better off keeping your emotions out of this final negotiation. Reference my advice to sellers for home inspections here.

Remember that this is likely just as emotional of a transaction for the buyers and the goal is to reach a equitable agreement, not start a fight to defend the pride you have in your home.

There are a host of other mistakes I see including over-pricing, limited showing times and not including a floor plan but the above highlight the most common errors that have the biggest impact on a home owner’s net bottom line.

If you’re considering selling your home, even if you’re 12+ months out, don’t hesitate to reach out to me to discuss strategies that will maximize your sale. You can reach me any time by email at Eli@EliResidential.com or phone at (703) 539-2529.

Question: We are planning to sell our home and wondering if the cost of professional staging is worth it. What’s your opinion on staging and are there certain circumstances where you do or do not recommend it?

Answer: I recommend staging for almost every home I sell because it will increase your sale price by more than you spend and help your home sell faster. In fact, it makes such a difference that clients often joke after seeing their decluttered and staged home that they’re considering moving back in!

What Is Staging?

Professional staging is a service used to improve the marketability of a home by arranging rented furniture in certain rooms of a home to maximize the space and visual appeal. Most staging professionals have an interior design background and a large supply of furniture to work with.

Staging is mostly done when a home is vacant, but for sellers occupying the home they’re living in, stagers will also provide consultations on how to best utilize your existing furniture and make suggestions on small add-on items to enhance a space (area rugs, towels, flowers, wall art, etc).

How Much $$$?

Condos can usually be staged for $1,500-$2,500 and townhomes and single family homes generally cost $2,500-$4,000 depending on the number of rooms you stage and quality of furnishings. For high-end real estate, expect to spend $5,000-$10,000. You should plan on spending 0.5-1 percent of your asking price on staging a vacant home.

What Are The Advantages?

  • Better pictures = more interest online = more showing traffic
  • Significantly better showing experience for buyers
  • Empty space looks smaller, staging helps visually increase the size of a room
  • Buyers struggle to visualize how beds, couches, tables, etc will fit
  • Awkward spaces benefit from the design of a professional
  • Clean, organized look increases the sense of a well-maintained home
  • Play to the strengths of a room and distract from its flaws

When Should You Stage?

  • Move-in-ready condition (limited updates/investment required)
  • Vacant
  • Home has been thoroughly cleaned and freshened up as necessary (paint, replace damaged/ancient items, etc)
  • Using professional photography

Where’s The Proof?

You may see staging companies or agents make claims that staged properties return an “X” percent higher sale price or sell “X” days faster than unstaged properties, but the reality is these numbers are just convenient marketing figures with no real substance.

One of the challenges with statements like these in real estate is that you don’t have the ability to isolate something like staging and compare the success or failure of the same home sale with and without it. You have to rely on the experience of your agent to help with decisions like these.

My experience with staging comes from seeing the impact it has on homes I sell, but even more so, how buyers I work with react. There is a noticeable difference in how buyers react to staged homes versus empty or cluttered homes (lived in without regard for design) and this shows up in their preferences when they’re viewing properties online to decide what they want to see and then again when they’re actually in the property.

I generally take an opportunity to point this out to my clients so they understand how much of an impact staging has on their perception of a home, so they keep it in mind when it comes time for them to sell.

I’m Here To Help

If you’re considering selling and trying to decide which investments like staging, painting, and updated appliances will return more than they cost, feel free to reach out to set-up time for me to see your home and make some suggestions.

Question: How does the price range of the home for sale affect the speed of the sale?

Answer: Last week I published statistics showing how quickly homes in Arlington sell(20 percent in the first five days, 50 percent in the first 30 days) and received a follow-up question in the comments asking how price impacts days on market. Here’s your response!

Data Description

The following data represents more than 15,000 sales in Arlington since January 1, 2012, broken out by sold price within the three primary housing types in Arlington – apartments/condos, townhomes and single-family/detached homes.

Key Findings

  • The middle price ranges sell fastest, with the cheapest and most expensive inventory in each housing type taking the longest to sell
  • Townhomes are in the most demand and sell two and a half weeks faster than other housing types
  • If you’re selling an apartment or single family over $1 million, be patient with your pricing and don’t worry if you don’t get your asking price immediately. It usually takes some time for those buyers to materialize.
  • Yes, there were actually nine single-family homes that sold for under $300,000 in Arlington (eight in 22204 and one in 22206)

 

I always appreciate hearing from readers in the comments section and via email. If you have any questions about the Arlington real estate market, please do not hesitate to post them in the comments or send me an email to Eli@RealtyDCMetro.com.