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| FALL REAL ESTATE GUIDE | SUN GAZETTE | OCTOBER 2017 R E A L T O R S

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Fast-Growing Communities Have Challenges, Too Frisco, Texas, and Kent, Wash., qualify as the two fastest growing cities in the nation, based on a comprehensive analysis of 15 key metrics by the online site Wallethub.com. More than 500 U.S. cities were analyzed not just for population growth, but also data points ranging from education level to employment. Rounding out the top five fastest growing were Lehigh Acres, Fla.; Meridian, Idaho; and Midland, Texas. Also in the top 10 were McKinney, Texas; Fort Myers, Fla.; Bend, Ore; Austin, Texas; and Pleasanton, Calif. Frisco was not only tops overall, but saw the highest job growth over the seven years surveyed, rising 5.8 percent, while Midland, Texas, experienced the highest growth in gross domestic product per capita over that stretch. San Marcos, Calif., had the highest increase in household income during the period, while Kent saw the highest population growth. While nearly all communities would like to see growth, there are some challenges that come along with it, said several experts. “Housing is key,” said Thomas Barrie, a professor of architecture and director of the Affordable Housing and Sustainable Communities Initiative at North Carolina State University.

“Maintaining and/or advancing a diversity of housing options is essential,” said Barrie, who also pointed to the need to develop and maintain a comprehensive, multi-modal transportation system. Stephen Conroy, a professor of economics at the University of San Diego, said communities experiencing a growth spurt must not only plan for the future, but ensure the present is covered, as well. “Demands on existing infrastructure – such as streets, sewers and electricity – can cause rapid degradation,” he cautioned. “Strains on fire/rescue and police services can result in more dangerous and volatile living conditions.” Communities have varying types of growth, said Noli Brazil, an assistant professor in the Department of Human Ecology at the University of California-Davis. “Population growth comes in different flavors,” he said. In cities like Phoenix, Las Vegas and San Antonio, housing prices were able to remain stable because there was plenty of open space on which to build, Brazil said, while in very dense areas, land is scarce and housing costs swell. And, he said, the types of new arrivals to a community will have an impact,

pointing to the highly skilled, highly paid immigrants who have started to call places like San Jose (Calif.) and Austin (Texas) home – changing hous-

ing landscape as they arrived. For full data and commentary on the report, see the Web site at www. wallethub.com.

OCTOBER 2017 | SUN GAZETTE | FALL REAL ESTATE GUIDE |

Panel: N.Va. Economy Strong, But Is Facing Challenges BRIAN TROMPETER Staff Writer

CMY

Anxiety increased among some shortly after President Trump was elected last November, but so far the national and regional economies are faring well, even if not soaring as high as Trump promised. That was the conclusion of Lawrence Yun, chief economist and senior vice president of research for the National Association of Realtors, who spoke Sept. 18 at the Northern VirPanelists Martin Nohe, Gerald Gordon, Terry Clower and Lawrence Yun talk about regional economic and transportation issues Sept. 18 during ginia Association of Realtors’ annual the Northern Virginia Association of Realtors’ annual economic summit, held at the Fairview Park Marriott. PHOTO BY BRIAN TROMPETER economic summit. Regional governments are issuing Consumer confidence, employ- press avid interest in home owner- nected with the federal workforce, about 10,000 building permits annualsaid Terry Clower, director of George ship, but that rate is at a half-century ment opportunities, the stock market ly, but housing needs are significantly Mason University’s Center for Regionlow, spurred by changing consumer and home sales (except for July) have greater. Suburbs draw young people al Analysis. preferences and student debt that has been up since the election, Yun said, once they decide to settle down and Part of that was due to President tripled in the last decade, he said. Trump’s election also spurred a brief form families, he said. The nation has about 6.9 million Trump’s freezing of federal hiring, jump in mortgage-interest rates from “Living upstairs from the bar is not 3.5 to 4.5 percent. Yun said this could fewer homeowners than ordinarily which amounted to more of a “coolbe attributed to the new president’s would be expected, and about 16 per- down” given the high number of ex- as much fun when you have a 4-yearold in tow,” Clower said. desire to stimulate the economy or cent of people between the ages of 25 ceptions made, he said. Gerald Gordon, president and CEO The region’s economy continues to fears of a budget-deficit increase. and 34 still live with their parents. “I don’t think anyone would say this to chug along well, but challenges of the Fairfax County Economic DevelRates since have dropped back to are on the horizon, Clower said. Pres- opment Authority (EDA), made a push is the American Dream,” Yun said. about 3.8 percent, Yun added. The economic summit, held at the sure to “drain the swamp” – clear out for increased recruitment of compaHome construction continues to lag behind the 50-year average need Fairfview Park Marriott in the Falls entrenched governmental interests – nies to the region. Businesses tend to for units, as it has done for the past de- Church area, also featured views from could change the area’s employment pay more in taxes than they absorb in public services, unlike residential taxcade, and has been hampered some- local economic and transportation ex- dynamics, he said. Local leaders should focus on the payers, he noted. what by Trump’s decision to increase perts. About 18 million square feet of FairThe Washington region has added region’s high cost of living and doing the tariff on Canadian lumber, Yun fax County’s 120 million square feet of business, and understand the work83,000 net new jobs in the past year, said. HBM SUN GAZETTE AD Flattened 7-11-2017.pdf 1 7/11/17 1:02 PM office space is vacant and the EDA is force’s changing nature, he said. but many of those have not been conThe U.S. public continues to extrying to remedy the situation. That task has become more difficult because companies decades ago needed about 265 square feet of space per employee, but now often need only 80 to 100 square feet, he said. Normal economic laws of supply and demand apparently do not apply to Tysons office space. Rental rates there are staying high because companies are moving in a “flight to quality” from older office space to newly constructed buildings with modern amenities, Gordon said. As a result, about 800,000 square feet of obsolete office space has been demolished and will be replaced with better offerings, he added. Fairfax County’s demographics are shifting significantly, the EDA president said. While the county was only 4 percent non-white in 1960, it now has 48-percent minority population base and soon will become a majority-minority jurisdiction, he said. “Residents come here because they want their children to grow up in a diverse community,” Gordon said. Martin Nohe, a Prince William Board of County Supervisors member who also serves as president of the Northern Virginia Transportation Authority, briefed local Realtors about the region’s transportation challenges. While the NVTA can allot $300 million per year worth of tax revenues toward vital transportation projects, officials have identified 358 projects costing $44.1 billion to be completed. 4

| FALL REAL ESTATE GUIDE | SUN GAZETTE | OCTOBER 2017

Nixon’s Western White House Is on the Market He won Virginia (including Northern Virginia, even Arlington!) three times, but Richard Nixon and his family were Californians who moved back and forth from Washington, D. C., depending on whether or not he was holding a political office such as senator, vice president to Dwight D. Eisenhower or as the 37th President of the United States. Nixon grew up dirt poor, but as he said, wasn’t aware of their poverty at the time, assuming everyone lived that way. During his political career, especially in his 1952 “Checkers” speech (which he gave to dispel allegations that he received gifts or used campaign money illegally), he emphasized his family’s modest lifestyle; that wife Pat owned no furs but instead wore a Republican cloth coat. However, he admitted to being given one gift which he would never return to the sender: a cocker spaniel puppy that his daughters had named Checkers and was by then a member of the family. The speech tugged at the heartstrings of at least some Americans, and Nixon retained his place on the Republican ticket. After becoming President, Nixon did buy a rather expensive waterfront house on Key Biscayne in Miami, which was to become his Southern

White House Other homes he owned after returning to public life were a Manhattan townhouse and their last home, located in New Jersey. But the most important property the Nixons owned in their lifetime was La Casa Pacifica in San Clemente, Calif. Referred to as Nixon’s Western White House, it was designed by Carl Lindbom and built in 1926 by financier Hamilton Cotton, who spared no expense in creating the stunning residence on one of the best locations on the California coastline known as Cotton’s Point. Cotton entertained often and lavContinued on Page 22

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OCTOBER 2017 | SUN GAZETTE | FALL REAL ESTATE GUIDE |

Va. Real Estate Market Takes Bit of a Summer Breather

The commonwealth’s real estate market took something of a mid-summer pause, with sales essentially flat and prices up slightly in August from a year before, according to new data. “Moving off the summer peak, we typically see the number and speed of transactions cool off. This year’s market has illustrated that buyers in every season are eager to get into homes with historically advantageous financing,” said Clare Forcier-Rowe, president of Virginia Realtors, which compiles sales data from around the state.

A total of 11,787 properties went to closing during the month, down slightly from the 11,795 in August 2016, according to figures reported Sept. 25 by Virginia Realtors. The flat market “reflects continued inventory challenges,” said the trade group. A tight inventory is pushing prices higher, with the median sales price of $280,000 for the month up 2.6 percent from $273,000 a year before. “Buyers are willing to tolerate premiums, illustrating strong demand,” the statewide Realtors said.

Another indicator of solid demand: The number of days between listing and ratified sales contract for homes that sold in August was 58, up from the May-JuneJuly period (a normal occurrence) but improved from the 60 days required for homes to sell in August 2016 and better than the average 69 days in August 2015 and 73 days in August 2014. Adding up the sales and prices, the overall sales volume for August of just over $4 billion was up 2.6 percent from a year ago. Prospective purchasers continue to

benefit from mortgage-interest rates that are on the low end of the historic spectrum. Though not as low as the under-3.5percent rates of mid-2016, the average 30-year mortgage rate of 3.88 percent in August was the lowest it has been all year, according to Freddie Mac. Year-to-date sales of 83,901 for the first eight months of 2017 were up 5 percent from a year before. Figures represent most, but not all, sales during the period. Figures from August 2017 are preliminary, and are subject to revision.

“Green” construction is rapidly gaining traction among both single-family and multi-family home builders, according to new research published in the “Green Multifamily and Single Family Homes 2017 SmartMarket Brief.” The latest in a series of studies conducted by Dodge Data & Analytics in partnership with the National Association of Home Builders (NAHB), the study shows that green homes are continuing to gain market share. At least one-third of single-family and multi-family builders who were surveyed said that green building is a significant portion of their overall activity (more than 60 percent of their portfolio). By 2022, this number

should increase to nearly one half in both the single-family and multifamily sectors. Within this group, nearly 30 percent of multifamily builders fall into the category of “dedicated‚“ green builders (more than 90 percent of their portfolio). On the single family side, the percentage of dedicated green builders is nearly 20 percent, but that share is expected to grow sizably by 2022. “These findings show that green building has become an established part of the residential construction landscape,” said NAHB chairman Granger MacDonald, a home builder and developer from Kerrville, Texas. ‚“It is no longer a niche business; our members recognize the value of build-

ing green and are incorporating these elements into their standard business practices.” Increasing energy efficiency continues to be the most common method of improving the performance of a green home, followed by creating a healthy indoor-living environment. “As consumers become more familiar with the impact that their homes can have on their health and well-being, we wouldn’t be surprised to see the influence of this factor continue to grow,” said Steve Jones, Dodge’s senior director of industry insights research. “Homes are following the larger trend that Dodge has been tracking across commercial and institutional sectors for healthier buildings to become an

increasingly important part of being sustainable.” A considerable number of builders are developing net-zero homes or plan to build net-zero homes in the near future. Among those surveyed, 29 percent of single family home builders have built a net-zero home in the past two years, and 44 percent expect to do so in the next two years. Another reason for the rise in netzero homes is the increasing use of renewable technologies, especially solar photovoltaic panels. In two years, the percentage of builders who used these panels increased from 19 to 23 percent. Nearly half (43 percent) of the builders surveyed expect to use this technology in the future.

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| FALL REAL ESTATE GUIDE | SUN GAZETTE | OCTOBER 2017

BEFORE

Want to Live Like a Rockefeller? It Can Be Done!

David Rockefeller died in March at the age of 101. He and his late wife, Peggy, who died in 1996, had been married 56 years and raised six children. David was the youngest and last surviving of the six children of John D. Rockefeller Jr. and grandson of the oil magnate John D. Rockefeller. During the years when he and Peggy were raising their family they spent their time between their 1924 Georgian-style townhouse on East 65th Street in East Side Manhattan and this stunning country home they called Hudson Pines in Pocantico Hills, in Westchester County, New York. At the beginning of summer, his Manhat-

tan home was put on the market for $32.5 million – and now, the 75-acre Hudson Pines farm is now also on the market, according to www.toptenrealestatedeals.com. The farm has been a family retreat and a breeding operation for Simmental cattle for decades and has been managed by their daughter. An important part of the family history, the farm abuts the Rockefeller State Park Preserve with its many walking and riding trails. Perfectly positioned to take in a long view of the Hudson River, the mansion was designed in 1938 by architect Mott B. Schmidt.

At 11,000 square feet, it includes 11 bedrooms and 15 baths. The entry is adorned with a floating staircase and formal rooms are large with high ceilings and tall windows that feature river, woodland and distant mountain views. Fireplaces and hardwood floors can be seen throughout the house. The Hudson Pines grounds include extensive gardens with orchards, Jeffersonian-style kitchen vegetables, greenhouses with rolling lawns, lush

pastures, barns and outbuildings, and a large garage that has housed Rockefeller’s extensive collection of horsedrawn carriages. David and Peggy Rockefeller’s beloved Hudson Pines farm on the Hudson River is for sale at $22 million. The listing agent is David Turner of Houlihan Lawrence in Bedford, New York. – Article courtesy www.toptenrealestateguide.com. Photos courtesy houlihanlawrence.com.

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OCTOBER 2017 | SUN GAZETTE | FALL REAL ESTATE GUIDE |

Realtor Q&A: Getting Homes to Sell in the Slower Times DAVE FACINOLI Staff Writer If a house is not selling, what are the best tips for getting that property sold during slower times of the year? A number of top local Realtors provided some answers and advice, like proper photography, advertising and staging, and even getting advice from another agent or two. Here are their full answers: Casey Margenau, Casey Margenau Fine Homes and Estates: “One thing you have to find out is if you are accidentally invisible because you have miscued a database factor of some kind. Make sure you have goodquality pictures to entice buyers, change your pictures and have a good Internet presence. Price, though, is the greatest equalizer. For higher-priced homes, it may just be a timing thing that you have to wait out, and you have to make sellers understand that.” Jack Shafran, Yeonas and Shafran Real Estate: “Staging and pricing are real important, but so is keeping the house clean inside and out. That means, in the fall, keep the walkways and decks free of leaves, keep the gutters clean and keep the grass cut. Also, make sure the home is easy to show and available for showing at a moment’s notice.” Vivian Lyons, Lyons McGuire

Homes and Estates: “At certain times of the year, such as during the holidays, there may be fewer buyers looking, but those buyers tend to be very serious about finding a home. As a result, the best tip for getting your home sold during slower periods are the same as always: You want to be the shiniest apple on the tree. At a minimum, your home should be updated to the level of your competition. It should sparkle; it should be easy to show; and, most important, it should be priced appropriately.” Casey Samson, Samson Properties: “Price it right, boost the heck out of it on social media, do open houses, review comments and traffic and reprice if necessary. It takes seven showings per week to generate a contract. If you are not getting that kind of traffic, chances are you are overpriced. Right now it is not an inventory issue, it is a pricing issue.” Lilian Jorgenson, Long & Foster: “Price is essential, and making sure sellers have the house in as perfect condition as can be to get it sold.” Archie Harders, Long & Foster: “The best way to get your home sold in an otherwise slow market is to make sure your listing agent markets the property to Realtors who do business in the area.” Karen Briscoe, Huckaby Briscoe Group: “It’s always a function of the

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price relative to the conditions of the market. There are buyers every time of the year, even holidays, because that’s when they might have more time. In 2009, we put our house on the market the day before Thanksgiving and it sold in a week.” Steve Wydler, Wydler Brothers Real Estate: “Make sure photos are seasonably appropriate and not stale. Pay attention to the wording in advertising and coordinate those words with the time of the year. Have a multipronged, aggressive marketing strategy.” Gail Belt, The Belt Team, Keller Williams: “Sellers in a market that is slower than peak times have an advantage, but also need to be savvy. Fewer active buyers means it’s as important as ever to implement the “three C’s”: Correctly priced, correctly staged and cooperate. Correctly priced and correctly staged means when they walk in the door they can envision it as their home. A cooperative seller is one willing to accommodate a buyer’s schedule, and a cooperative fellow agent understands the importance of working toward a win-win outcome.” John Mentis, Long & Foster: “Tips for slower times are the same as for hotter times, only amplified: show as well as you reasonably can and price accordingly. Try all the tools in your toolbox, including excellent and thor-

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| FALL REAL ESTATE GUIDE | SUN GAZETTE | OCTOBER 2017

ough photography, online advertising and public open houses.” Gloria Adams, TTR Sotheby’s International Realty: “Pricing is always important. Also, advertise on social media and maybe in different newspapers or media. Give a bonus or incentive to a selling agent, maybe, and give a decorative allowance. All of that can make a difference.” Dean Yeonas, Yeonas and Shafran Real Estate: “At the end of the day, the standard answer is you need to have it priced appropriately. The market is not stupid and reflects what the value of a home is supposed to be. Sometimes minor fix-ups cosmetically are helpful, like painting or finishing the floors. Staging is important and pays for itself.” Dawn Wilson, TTR Sotheby’s International Realty: “Price it right for the market. Then make it beautiful and move-in-ready to make it easy for buyers. That may include a fresh coat of paint, new carpeting, refinishing the hardwood floors and making sure nothing is broken. You also want to choose colors and fixtures that will appeal to a majority of buyers.” Terry Belt, The Belt Team, Keller Williams: “Tips for selling a home during slower times of the year are the same as any other time. Consult with and hire a hyperlocal Realtor expert and follow their advice to properly prepare, stage, price and market your home so your home stands out from the competition as a unique value and opportunity. Sellers who follow this strategy will have the ultimate success in good times as well as slow times.” Laura Fall, McEnearney Associates: “Know your competition and market value. Compare square footage, upgrades and curb appeal. Have an outstanding online presence. Include professional photography, exposure on multiple Web sites and have easy access to open-house details. Deep-clean each room, groom the yard and pay special attention to the front door. Consult a professional stager. Don’t restrict showing days/ times. Have exterior lights on for safety and appeal.” Rob Ferguson, Re/Max Allegiance: “The biggest thing is price, of course. You might need to clean up the presentation or make it a little bit different. Take away any objections potential buyers might have, whether its painting or carpeting.” Lori Shafran, Yeonas and Shafran Real Estate: “Re-evaluate the property to be in conjunction with where the market is, and get property in the condition that fits the market. Sometimes it might be appropriate to make a price reduction. Look at alternative sources of advertising, and expose the property to people who otherwise wouldn’t look at it. Maybe get a Continued on Page 9

Realtor Q&A: How to Ensure Homes Sell in Fall and Winter Continued from Page 8

second opinion about how to present the property.” Ann Wilson, Keller Williams: “The No. 1 thing is staging. Hire a professional photographer to take great photos to put online. The prettier the house, the better chance it will sell. Have open houses and package the house perfectly to make it most attractive.” Craig Mastrangelo, Re/Max Allegiance: “I am a firm believer in stressing to sellers the importance of putting in the proper thought on preparing a home for market and how a seller presents their home to the buying public. To that end, I believe strongly in doing whatever routine contracting work that will make a house look fresh: new interior paint, new carpets and/or flooring and professionally staging. As my partner, Kristin Kelly, has said: “Buyers buy what they can see, not what they believe can be.” Barbara Lewis, Washington Fine Properties: “During slower times, it is especially important to have the best house on the market in your price range. That means the house needs to be in excellent condition so, when buyers come, they will be excited. Fresh paint, bright light bulbs, fresh flowers are just a few of the things that will attract a buyer. The right price and the right condition will cause a home to sell in any market. For older homes, especially, condition is extremely important.” Jennifer Harper Thornett, Washington Fine Properties: “When it comes to selling a home during the slower times of the year, or specifically the late fall and winter season, most see it as a challenge – but it can also be an opportunity. Add extra lighting with brighter bulbs or more lamps, as the days are shorter and homes naturally feel darker. Refresh your exterior pictures as the seasons change. Skip all holiday decor, if possible.” Natalie Roy, Keller Williams: “Respond to the market quickly, be creative and ensure everyone has realistic expectations. Creative marketing could include open houses with holiday themes, since the market tends to be slower around the holidays and winter months, fun riders that grab prospective buyers’ attention.” Adam Gallegos, Arbour Realty: “The best thing you can do to sell your home during a slower time of year is make it stand out. Make sure it shows better than the competing properties and is priced reasonably.” Karen Close, Century 21: “Every house has a buyer, but you can’t manufacture them as much as you might want to. If you put the right price on a house and present it properly, and have the right handler, you may not

need any tips to help it sell. In a slow market, sometimes you just have to wait.” Mark Middendorf, Long and Foster: “Sometimes you have to assess the whole picture. Maybe take the bull by the horns, think way outside the box and start over, or look what you can do differently. Any attention to a house is good attention. Sometimes you need to do things to get people talking about a property.” Carol Temple, Coldwell Banker: “Don’t handicap the process. Don’t be misled by the chatter about low inventory making this a seller’s market, as it definitely is not a seller’s market in some price ranges and some products. Do establish the right asking price from day one. Do everything possible to show the property at its very best. Do listen to your agent that you are trusting to manage the process for you.” Mike Highman, Acquest Realty: “Know your neighborhood market by having hard data. With this, one can estimate an analytical price versus a seller’s myopic wishful sales price. Property presentation: This means sellers have another part-time job of keeping the exterior and interior constantly neat and clutter-free. Accommodating: Availability to have the property shown at buyer’s reasonable time.” Carol Ellickson, TTR Sotheby’s International: “Pricing is the key. It overcomes all objections. There are pockets that are stubborn, but overall I think the fall is not a bad time to list.” Betsy Twigg, Washington Fine Properties: “It always comes down to pricing, and some clients are resistant to lowering the price. Sellers have expectations. If a house is not selling and the client doesn’t want to lower the price, they should considering renting, putting it back on the market at a later time, or offer to pay some of the closing costs.” Billy Buck, Buck & Associates: “If a seller wants to put a house on the market in the winter, suggest they do a photo shoot now.” David Howell, McEnearney Associates “It really is a matter of doing the same things for what is perceived as a faster time of the year: price it right and put it in the best possible condition. For detached homes and townhomes, spruce up the exterior with attractive fall plantings and making sure the yard is in top shape. The single most important consideration is price.” Diane Lewis, Washington Fine Properties: “Homes that are move-inready and priced correctly will still sell. Fresh paint, landscaping and staging really make a difference, along with great photography and a good marketing plan.”

ARLINGTON’S REALTOR® What Others Say...

When we hit a snag, Carol kept us informed and calm. She knows what she is doing and we reaped the benefits. Not only does she have vast experience, Carol has a valuable, trust-worthy network of the most professional and responsible people in their respective fields.

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#1 Agent

in Arlington Office Life Member, NVAR Million Dollar Club NVAR Top Producers Club Certified Residential Specialist

703-568-1100 Owned and Operated by NRT Incorporated

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OCTOBER 2017 | SUN GAZETTE | FALL REAL ESTATE GUIDE |

Millennials Finding Both Challenges and Opportunities as They Begin to Move Into the Real-Estate Marketplace Millennials poured some $514 billion into the U.S. housing market over the last year as the largest generation of home buyers. But new survey data shows their home-ownership aspirations are stymied by affordability issues, frustration with the buying and selling process, and a cutthroat housing market. More than half of young buyers (53 percent) make multiple offers to buy their first home, and only two in five Millennials (39 percent) are able to make the recommended 20 percent or more down payment. The results of the Zillow Group Report on Consumer Housing Trends 2017 show how the nation’s highly competitive housing market is changing the way a new generation approaches buying a home. The second annual report is the largest and most comprehensive survey of real estate consumers ever conducted. More than half of Millennials (62 percent) shop for a rental while they’re looking to buy a home, indicating they accept the fact that buying a home is not a sure thing. They are more likely to say they struggled to find a home in their price range and on their time frame, and over one-third (37 percent) of Millennial buyers say they went

over their budget, compared to 29 percent of all buyers. Coming up with a down payment is one of the biggest hurdles young buyers face, and the Zillow Group Report sheds light on previously unknown statistics about how Millennials are pulling together enough cash. Less than half (39 percent) of Millennials put down the recommended 20 percent or more on their home purchase, while one in four (21 percent) put down the bare minimum – 5 percent or less – in order to secure a home loan. One in three (29 percent) Millennial buyers now gets financial help from friends or family to make a down payment, and one in three (31 percent) Millennial buyers cobbles together a down payment from multiple sources. “In many cities across the U.S., the housing market is extremely competitive, especially for first-time buyers who are looking to purchase a starter home,” said Zillow chief economist Dr. Svenja Gudell. “Young buyers often start their careers in fast-growing cities in which the market is particularly tough – and they’re trying to save for a down payment while making recordhigh rent payments.”

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“Gen Z” – those born between 1995 and 2010 – already makes up more than 21 percent of the U.S. population, and is the most ethnically and racially diverse generation in U.S. history. They are beginning to enter the housing market as renters. The Zillow Group Report reveals that those in Gen Z are just as likely as those in older generations to say owning a home is a key component of the American Dream; 57 percent say they considered buying a home when they

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looked for their last rental. Generation Z renters work hard to win a home and end up submitting more rental applications than any other generation (3.1 applications compared to 2.5 for all renters), yet they also move quickly through the process, spending the least amount of time searching (less than one month, compared to 26 percent of all renters). “It’s encouraging to see that Generation Z is inheriting the same notion of what home means as their parents and Millennial siblings,” said Jeremy Wacksman, Zillow Group chief marketing officer. “These tech-savvy yet risk-averse renters . . . prefer living with others to living alone, and they put their vast social networks to work during every step of the rental-search process. As they mature and look toward home-ownership, it will be interesting to see how their aspirations and preferences will shape the housing market.” The 2017 Zillow Group Report is the 2nd annual largest-ever survey of U.S. home buyers, sellers, owners and renters, and surveyed more than 13,000 U.S. residents aged 18 to 75. The full report is available for free to the public at www.zillow.com/report.

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| FALL REAL ESTATE GUIDE | SUN GAZETTE | OCTOBER 2017

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).

ACTIVE

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.

ACTIVE

www.ShepardFong.com

2220 Fairfax Dr. #310, Arlington, VA 22201

1128 S. Frederick St., Arlington VA 22204

UNDER T CONTRAC

Matt Shepard | Kathy Fong 703-596-2368 Sold@ShepardFong.com

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4277 38th Street North, Arlington VA 22207

OCTOBER 2017 | SUN GAZETTE | FALL REAL ESTATE GUIDE |

CHRISTINE RICH

Crystal Park

703.362.7764 Christine.Rich@LNF.com

2901 22nd St N, Arlington, VA 22201

FALLS CHURCH

$689,000

Gorgeous 3BR+Guest space 2.5.5 BA townhome on 3 finished levels in great location ,close to WFC Metro. Built in book cases in LR & FR. Granite kitchen, separate DR. Hardwood floors throughout. Renovated baths, large patio off den or mn level Family room. 2 wood burning fireplaces. LL w/ guest space and walkout to fully fenced brick patio. Must see. Tons of parking.

Garage Townhome This spacious 1-car garage townhome in Runnymeade subdivision has 3 levels, 3 bedrooms, 2 full and 2 half baths, a remodeled kitchen with granite counters and stainless appliances, new carpet, freshly painted, a fireplace, deck and walkout to private patio. Move in ready! Great location with easy access to Van Dorn metro, the Beltway and Old Town Alexandria. 6051 Knights Ridge Way

CHRISTINE RICH

SOLD

760.310.9509 Maribeth@Lnf.com Maribethclissa.com

Platinum Level

Absolutely gorgeous & totally renovated 1 BR + Den or possibly 2 BR w/ 1.5 baths, Designer stone tiles & stainless appliances in kitchen. Beautiful hardwood floors in LR and DR area. Beautiful fixtures in the bathrooms & huge walk-in closet in the Master Bedroom w/built-ins, Located on the Plaza level w/a large Balcony. Concierge, Pool & shops...Walk to Ballston Metro and Harris Teeter. Garage parking for $150 per year. Call for a private showing at 703-283-7509

703.522.0500 Office 703.283.7509 Cell

BOBM@LNF.COM www.bobmathew.com

Looking for a top agent? Hard work is not enough. You deserve an agent who is active in the market, has top-notch skills, and cares about you!

3645 38th ST N, Arlington, VA 22207

4141 Henderson Rd. #126 $2,200 monthly, includes all utilities

JIM McGARITY

BOB MATHEW

1.800.495.8470

Call or e-mail me when you‘re ready to move!

$1,074,900

5 BEDROOM/3 BATHS

FOR RENT

4141 Henderson Rd. #126

The one you have been waiting for! Remodeled with thought and care, this spacious home on a 20,000 SF lot in Rivercrest is move-in ready. From the refinished hardwood floors and new tile flooring on the lower level, to the windows, fully remodeled baths and updated kitchen opened up to the living areas, the home embraces JIM MCGARITY homebuyers’ current lifestyle preferences. The home features a screened porch for enjoyment of the very private back yard, a 2-car garage and views over its neighbors into Gulf Branch Park.

SUSAN JOY

$2,200 monthly, includes all utilities

www.jimmcgarity.com 703.201.6219 Jim.Mcgarity@LNF.com Absolutely gorgeous & totally renovated 1 BR + Den or possibly 2 BR w/ 1.5 baths, Susan.Joy@LNF.com Designer stone tiles & stainless appliances in kitchen. Beautiful hardwood floors in LR and DR area. Beautiful fixtures in the bathrooms & huge walk-in closet in the Master Bedroom w/built-ins, Located on the Plaza level w/a large

Fantastic condition // New roof and HVAC // 3,675 sf. // Renovated Kitchen // Renovated upstairs Baths with skylights // Deck with great view! dick.nathan@LNF.com // 703-284-9318

$4,100,000

Prestigious Ballantrae Farms residence in McLean. 6 BR, 7 BA, outdoor pool. Exquisite luxury. Elevator, handsome library w/ music alcove, grand bar and separate his/her offices. Formal living and dining rooms, elegant great room, outdoor deck. Perfect for entertainment. Marble and hardwood floors, hand-crafted plaster millwork, spectacular owner suite, and catering kitchen.

SOLD

Seminary Park Alexandria 22311

This immaculate home is a must-see! In complete move-in condition, with many updates and renovations.

STUNNING LUXURY RESIDENCE

Boulevard Manor neighborhood in North Arlington. Great curb appeal with beautiful gardens, stunning renovated open kitchen and lux bathrooms, spacious rooms, wonderful natural light, lots of storage room. 3 bedrooms/3 full bathrooms. 500 N. Lombardy Street, Arlington VA. Asking price $775,000. Call 703-362-7764 for details!

UNDER CONTRAC T

Coming Soon! 6004 2nd St. N.

McLean – Ballantrae Farms

703.362.7764 Christine.Rich@LNF.com

Dick Nathan

No one will work harder for you.

703.284.9337 www.libbyross.com Libby.Ross@LNF.com

“I sell more because I do more”

FOR RENT

associate broker, crs, abr, sres

LIBBY ROSS

703-244-7474 dnnysells@gmail www.dennykaydouh.LNF.com

Buying or Selling a home in the DC Metro Area? I can help with every stage of the process.

$1350.00

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DENNY KAYDOUH

703.284.9348 Office tom.anderson@longandfoster.com www.tomanderson.LNF.com

MARIBETH CLISSA

North Arlington Beautiful updated efficiency in prime location of Rosslyn! Available Nov. 1st. Totally renovated 2 years ago, appliances, granite counter, carpet, paint, lighting fixtures!!! Rent includes utilities, electricity, water, heating and air conditioning. Call for an appointment today!!

2038 HOPEWOOD DR FALLS CHURCH, VA 22043

TOM ANDERSON

Bloomingdale Washington DC 20002

JOHN MENTIS

JIM McCOWAN

$459,000

$1600/mo.

703.284.9457 202.549.0081 ® www.JohnMentis.com Your Life is Changing — I Can Help!

703.395.0166 www.jimmccowan.com

Alexandria

ARLINGTON/Park Glen condo. 2 BED/1 BATH/REMODELED MLS #AR10068254*Charming, private oasis location*Remodeled white kitchen & bath*Laminate floors*W&OD, Four Mile Run trails next door*EZ to Arl Comm Center, Columbia Pike bus, Shirlington *Common laundry, bike room, extra storage in bldg basement*Hot water incl. in rent*No smoking*No more than 2 incomes to qualify ($64k gross min.)*Sorry, no pets*Professionally managed*Move-in fee $150*If you’re not already working with an agent, please contact me for a private showing.

Call for details!

Looking for a top agent? Hard work is not enough. You deserve an agent who is active in the market, has top-notch skills, and cares about you!

Life Member, NVAR Top Producers Club Life Member, NVAR Million Dollar Club Certified Residential Specialist (CRS) Graduate Realtors Institute (GRI) 30 Years Real Estate Experience

$649,000

This stunning 3 bedroom corner unit on the 10th floor in Crystal City offers views of National Airport, The Capitol, and DC from its 20’ balcony and every window. Large rooms provide the perfect entertaining space. The remodeled kitchen has granite counters and stainless appliances. The unit includes two side-by-side garage parking spaces close to the elevators, extra storage, and new HVAC. Priced below the tax assessment!

Very special opportunity in popular Maywood neighborhood of North Arlington. This original 1912 farmhouse has been completely updated to today’s modern standards, yet retains the original charm that makes this property so lovely. Period details include extensive woodwork and wood trim, a front room with walls of windows, a side room “sleeping porch” that is currently used as an office, gorgeous hardwood floors throughout, and the list goes on. Beautiful updates include a spacious eat-in kitchen, replete with plentiful cabinetry, stainless steel appliances, black granite countertops, and glass cupboards. Just outside the kitchen is the separate dining room, perfect for family dinners and holiday entertaining. There are a total of 3 bedrooms and 2.5 bathrooms, a hide-away finished attic and tons of storage space in the unfinished basement.

SOLD

Platinum Level

For the love of home.

™

Unique Investment Opportunity Great rental potential here! Spacious 2BR, 1BA with balcony in River Place, just 2 blocks to Rosslyn metro. Short distance to Georgetown and DC, too! “Fix-Up” Unit needs renovation, but can provide a serious income stream for many years to come!

OPEN HOUSE 10/15 2:00-4:00 PM

BILL GROOM

2016 Washingtonian Magazine Top Real Estate Agent.

(703)283-2596

Delivering Excellence, Experience and Success.

A R LI NG TON

SOLD 1173 Dolley Madison Boulevard McLean, VA 22101 http://1173.TheMathewGroup.com

$199,950

Arlington/Lee Heights

$1,825,000

THE DIFFERENCE IS IN THE DETAILS

Thoughtfully designed and meticulously appointed with designer fixtures and quality materials throughout! Open flow with spacious rooms and large windows with beautiful views of mature trees. Enjoy cooking in the breathtaking State-of-the art Chef’s kitchen with high-end appliances, breakfast nook, walk-in pantry, butler’s pantry with wine cooler, family room with coffered ceilings and fireplace. Elegant 17’x14’ dining room with tray ceilings, library, powder room and mudroom off the 2-car garage. The Owner’s suite features floor-to-ceiling windows overlooking park-like setting, 2 walk-in closets and fabulous Spa-like bath. Five en-suite bedrooms with walk-in closets! Lower level has a movie theater, wet bar, recreation room, wine cellar, powder room and bedroom with full bath. Discovery, Williamsburg and Yorktown Schools!

SOLANGE IZE

703.861.7706 Solange.Ize@Gmail.com

2311 N. Albemarle Street For a private showing, please call, text or email Solange Ize

Balcony. Concierge, Pool & shops...Walk to Ballston Metro and Harris Teeter. Garage parking for $150 per year. Call for a private showing at 703-283-7509

703.522.0500 • 4600 Lee Highway, Arlington, VA 22207 arlington.va@longandfoster.com • www.arlingtonvahomes.com

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

| FALL12, REAL 2017 www.insidenova.com 2017ESTATE GUIDE | SUN GAZETTE | OCTOBER 16 12October

Sun Gazette

OCTOBER 2017 | SUN GAZETTE | FALL REAL ESTATE GUIDE | 13 17 www.insidenova.com October 12, 2017

October is FREE WINDOWS MONTH at 1 Renewal by Andersen. Why is October one of the best times to replace your windows? Because if you call us now, you can get your more energy-efficient windows installed before the cold weather is here. Our exclusive High-Performance™ Low E-4® SmartSun™ glass is up to 70% more energy efficient†. It’s engineered to make your home more comfortable in the colder months.

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1 DETAILS OF OFFER – Offer expires 10/31/2017. Not valid with other offers or prior purchases. Get $325 off each window and $700 off each patio door and 12 months no payments, no interest when you purchase four (4) or more windows or patio doors between 10/1/2017 & 10/31/2017 with approved credit. APR of 16.68% as of 6/1/2015, subject to change. Interest accrues from date of purchase but is waived if paid in full within 12 months. Savings comparison based on purchase of a single unit at list price. Available only at participating locations. See your local Renewal by Andersen location for details. MHIC #121441. VA License #2705155684. DC License #420215000125. Some Renewal by Andersen locations are independently owned and operated. “Renewal by Andersen” and all other marks where denoted are trademarks of Andersen Corporation. ©2017 Andersen Corporation. All rights reserved. ©2017 Lead Surge LLC. All rights reserved. †Summer values are based on comparison of Renewal by Andersen Insert double-hung window SHGC to the SHGC for clear dual pane glass non-metal frame default values from the 2006, 2009 and 2012 International Energy Conservation Code “Glazed Fenestration” Default Tables. *See limited warranty for details.

| FALL REAL ESTATE GUIDE | SUN GAZETTE | OCTOBER 2017

It’s Time to Get Our Homes Ready for the Winter (StatePoint) – Autumn is the perfect time to complete those pesky home maintenance projects left on your to do list. If you’ve been putting off these chores, you’re not alone, but it could cost you. In fact, a national survey from Erie Insurance shows many Americans are putting themselves and their homes at financial risk by delaying important home maintenance tasks. Make sure you’re protected by focusing on these five areas: The Roof. Twenty-three percent of homeowners admit they never inspect their roof or have it inspected unless there is a problem, according to the Erie Insurance survey. Unfortunately, replacing a roof is also one of the biggest expenses a homeowner may have if not maintained properly. Nationally, the average homeowner spends about $6,600 to install a new roof, but prices can soar upwards of $20,000. Don’t be stuck with a hefty roof-repair bill. Have it inspected to see if any shingles are damaged and need to be replaced. The fall season is the optimal time to do so, since roofing is best installed when temperatures are cooler. Plus, you’ll catch any problems before winter weather kicks in. The Gutters. Make sure downspouts drain away from the foundation and are clear of debris. Clogged

gutters can lead to major issues like uneven floors, cracks in walls and interior water damage. This type of claim, also known as seepage, is a maintenance issue and often not covered under your home insurance policy. To prevent any major issues, clean gutters at least twice a year in fall and spring. The Dryer Exhaust Duct. Does it

take you two to three cycles to dry a load of laundry? If so, you may need to clean your dryer vent. One in five (21 percent) admit they never clean their clothes dryer ducts, unless they have a problem. But lint build-up can catch fire easily. Over 15,000 dryer fires occurred nationwide from 2010-14, with the majority being ignited by dust, fiber and lint,

according to the National Fire Protection Association. Avoid this disaster with a thorough cleaning at least once a year. The Fireplace Chimney. Erie Insurance found nearly half (46 percent) of people who own a home with a fireplace never have their chimneys cleaned. However, uncleaned chimneys are a leading cause of structure fires, reports the National Fire Protection Association. So, get the chimney cleaned before the cold weather hits and you find yourself tossing logs in the hearth to keep the house toasty, and then have it cleaned annually. The Sump Pump and Pit. Sump pumps remove excess water from homes that would otherwise cause property damage. It’s important to clean a sump pump and its pit annually to keep basements dry and help prevent mold growth and water damage. Do this maintenance project in fall to help protect against heavy rainfalls and accumulated melting snow and ice of winter. Now that you have your checklist, it’s time to roll up your sleeves while it’s still nice outside. Whether you’re a DIYer or prefer hiring a professional, crossing these projects off your to-do list will help ensure you’re safe and secure before temperatures drop.

If you are looking to buy or sell, give us a call! We are ready to assist you! G MIN

SOO

856 N Harrison Street Arlington, VA 22205 Listed for

day

Ope

1-3

Ope

1-3

2,380,000

Marvelous new custom built beauty with 6 bedrooms, 6 bathrooms, stunning attention to detail throughout! This home is more than 6500 finished square feet, sitting on a beautiful level lot just under an acre! To learn more, please visit www.856NHarrisonSt.com. un nS

d Sun

2908 S Dinwiddie Street Arlington, VA 22206 Listed for

439,000

202 Governors Court Falls Church, VA 22046

Listed for

749,900

Beautiful all brick Split Level home in the highly sought-after neighborhood of Spy Hill/Blvd Manor! 4 bedrooms, 3 full bathrooms, gorgeous hardwood floors, open and airy rooms with beautiful new windows! To learn more, please visit www.212NMadisonSt.com.

I DO IT ALL!

Classic Fairlington Clarendon model townhome, nestled in an alcove of trees that gives you lots of privacy! This adorable home offers a lower level walkout to a stunning landscaped yard.

212 N Madison Street Arlington, VA 22203

If you list with me

865,000

Stunning 3 bedrooms, 2 full, 2 half bathrooms, 3 finished levels, elevator ready, 1-car garage, minutes to EFC metro and farmer’s market. To learn more, please visit 202GovernorsCt.com.

ANN WILSON

Associate Broker GRI, CRS, ABR, EcoBroker, CLHMS 2101 Wilson Boulevard Suite 100 Arlington, VA 22201

703.328.0532

cell Washingtonian Best Realtors, 2015, 2016 Northern Virginia Magazine, Best Realtor, 2016,2017

Need staging, remodeling, painting, removal of items, cleaning? I arrange and monitor everything as part of my Real Estate Services! I sell more because I do more, and I’m ready when you are.

Denny Kaydouh

703.244.7474

dnnysells@gmail.com

www.AnnWilsonHomes.com OCTOBER 2017 | SUN GAZETTE | FALL REAL ESTATE GUIDE |

New Life for a Classic in Bellevue Forest

1950s Property Is Updated, Expanded to Meet Modern-Living Standards

he enchanting and alwaysin-fashion neighborhood of Bellevue Forest is where we stop for this featured property, which built on the classic, 1950s-era Cape Cod home and reimagined, reconstructed and expanded it expertly with top-quality materials, turning it into a better-than-new showplace. Built with integrity and quality by 4Square LLC and Paton & Miles Construction, the home features the amenities of urban-village living with a closein but still bucolic locale. From the solid doors to the oversized (and heated) two-car garage, this is a home that pays homage to the past while having its feet pointed squarely toward the future. The property currently is on the market, listed at $1,595,000 by Carole Schweitzer and Sarah Race of Weichert Realtors. The top-to-bottom effort focused both on structural improvements (the mechanical systems all have been replaced) as well as putting attention to detail on livability and style. The result is an abode where all are welcomed and made to truly feel at home. Classic curb appeal offers a wonderful first impression, and from the moment we are welcomed into the large foyer, the tone is set for understated elegance. Natural sunlight streams through win-

Facts for buyers

Address: 3114 North Pollard Street, Arlington (22207). Listed at: $1,595,000 by Carole Schweitzer (703) 475-8494 and Sarah Race (703) 732-1848, Weichert Realtors. Schools: Jamestown Elementary, Williamsburg Middle, Yorktown High School. dows that have been enlarged and filled with premium Andersen panes. Sizing of the formal rooms – living and dining – are ample, perfect both for entertaining and daily living. The kitchen (with skylight) is a visual delight, as well as awaiting duties as assigned by the serious chefs among us. There is copious eat-in space adjacent, as well. Two bedroom suites can be found on the main level, perfect for today’s on-the-go lifestyle and equally adept at handling aging-in-place issues. Additional bedrooms are located both on the upper and lower levels, totaling five throughout the home, while the sunlit lower level also plays host to a lovely family room. Mature trees out back work to complement the rear patio, a perfect spot for relaxation as the seasons change. Born in the era of “I Love Lucy” and “Ozzie and Harriet,” this is a home that

Sarah Race sarahrace703@gmail.com

703-732-1033 16

has retained all its classic provenance and character, while being readied for future generations to enjoy. Well worthy of consideration. Articles are prepared by the Sun Gazette’s real estate advertising depart-

We make it Easy! Weichert® Arlington 4701 Old Dominion Drive 703-527-3300

| FALL REAL ESTATE GUIDE | SUN GAZETTE | OCTOBER 2017

ment 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.

Carole Schweitzer carolesw@aol.com

caroleschweitzer.ismyreagent.com

703-525-7568

COUNTRY CLUB HILLS

2925 N Glebe Road Arlington, VA $2,995,000

WOLFTRAP MEADOWS 1607 Fremont Lane Vienna, VA $954,000

CathedralView2925.com WETHERLY BARKER +1 703 965 9613 KAREN BARKER +1 703 928 8384

CHRISTINE MORGAN +1 202 549 3001

ROSSLYN

ARLINGTON FOREST

1201 N Nash Street #604 Arlington, VA $2,245,000

4758 1st Street N Arlington VA $1,035,000

JOSEPH REEF +1 703 981 8980 PETER NGUYEN +1 202 476 9687

PATRICE ANGLE +1 202 360 8087

ROSSLYN

Turnberry Tower 1881 N Nash Street #TS04 Arlignton, VA $3,250,000

MONUMENT PLACE 1400 N Meade Street $4,250,000 MARC FLEISHER +1 202 438 4880

JONATHAN TAYLOR +1 202 276 3344

BROMPTONS/ ROSSLYN

LYON PARK/ CLARENDON

1335 14th Street N Arlington, VA $1,899,000

Under Contract 711 N Barton Street Arlington, VA

BOYER O’DEA & GRANT +1 703 338 2277

GEORGETOWN

BROMPTONS AT ROSSLYN

2735 Olive Street NW #2 Washington, DC $840,000

1662 Quinn Street Arlington, VA $1,099,000

JULIA DIAZ-ASPER +1 202 256 1887

MICHAEL RANKIN +1 202 271 3344

S AV E T H E D AT E

Virginia Fall Open House Tour Sunday, October 29 | 1 - 4 pm For more information, visit facebook.com/TTRSIR A R L I N G TO N , VA B R O K E R AG E 2 3 0 0 C L A R E N D O N B LV D, S U I T E 2 0 0 | + 1 7 0 3 74 5 1 2 1 2

t t r s i r. c o m

©2017 TTR Sotheby’s International Realty, licensed real estate broker. Sotheby’s International Realty and the Sotheby’s International Realty logo are registered service marks used with permission. Each Ofﬁce Is Independently Owned And Operated. Equal housing opportunity. All information deemed reliable but not guaranteed. Price and availability subject to change.

OCTOBER 2017 | SUN GAZETTE | FALL REAL ESTATE GUIDE |

National Real Estate Market Remains in Something of a ‘Funk’ Due to Challenges with Affordability and Availability Existing-home sales have retreated in four of the past five months, but new survey findings from the National Association of Realtors (NAR) indicate it is not because of a lack of confidence from consumers about buying and selling a home, or based on their views about the direction of the economy and their finances. That’s according to NAR’s third quarter Housing Opportunities and Market Experience (HOME) survey , which also found that two-thirds of households think saving for a down payment is challenging, and roughly half of renters expect to pay more in rent next year. This quarter, there appears to be a revival from renters that now is a good time to buy a home. After dipping to roughly half of renters last quarter (52 percent), the share who believe now is a good time climbed to 62 percent (60 percent a year ago). Overall, current homeowners (80 percent), households with higher incomes and those living in the more affordable Midwest and South regions are the most optimistic about buying right now. Amid the steady gains in home values seen in many parts of the country, the share of homeowners that believe

now is a good time to sell is also inching higher. Eighty percent of homeowners think now is a good time to list their home for sale (a new survey high), which is up from last quarter (75 percent) and even more so than a year ago (67 percent). Lawrence Yun, NAR’s chief economist, says it is great news that homebuyer and seller optimism is advancing, but it remains unclear if it will actually translate to more sales. “The housing market has been in a funk since early spring because of the ongoing scarcity of new and existing homes for sale,” Yun said. “The pace of new home construction has not meaningfully broken out this year, and not enough homeowners at this point have followed through with their belief that now is a good time to sell. As a result, home shoppers have seen limited options, stiff competition and weakening affordability conditions.“ More households this quarter (57 percent) believe the economy is improving compared to the second quarter (54 percent) and a year ago (48 percent). Continuing the complete reversal from a year ago, those living in rural and suburban areas were more optimistic about the economy than respondents residing in urban areas.

August Was Flat in D.C., Inner Core A slight upward tick in average prices helped to offset relatively flat year-over-year sales in the inner D.C. core in August, leading the real estate market to a very slight increase in total sales volume for the month. A total of 5,073 properties went to closing last month, down 0.3 percent from 5,089 a year before, according to RealEstate Business Intelligence, based on data from Bright MLS and reported Sept. 12. Figures represent sales in the District of Columbia; Arlington and Fairfax counties and the cities of Alexandria, Fairfax and Falls Church in Virginia; and Montgomery and Prince George’s counties in Maryland. The average sales price was up 0.4 percent to $520,954, but that was due largely to a bigger mix of single-family homes in the overall sales total. A majority of homeowners and those with incomes above $50,000 also had a positive outlook on the economy.

The rebound in economic confidence this quarter are also giving households increased assurances about their financial situation. Those expressing confidence that their financial situation will be better in six months jumped from 57.2 in June to 62.0 in September. A year ago, the index was 58.6. “Jobs are plentiful, wage growth is finally showing signs of life, home values are up considerably in the past five years and the stock market is at record highs,” Yun said. “The economy is not perfect, and growth overall is still sluggish, but the financial health of the typical household looks as healthy as it has since the recession.” Headwinds persist for those attempting to get into the market. Even though the typical down payment of a first-time buyer has been 6 percent for three straight years, two-thirds of respondents indicated that saving for one is difficult right now, and data suggest it could be getting worse, not better. “Heading into next year, higher home prices and limited inventory in the affordable price range will likely continue to hold back a share of renters who would prefer to be homeowners,” Yun said.

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*Thompson Creek is neither a broker nor a lender. Financing is provided by Synchrony Financial under terms and conditions arranged directly between the customer and Synchrony Financial, all subject to credit requirements and satisfactory completion of finance documents. Thompson Creek does not assist with, counsel or negotiate financing. No Monthly Interest if Paid in Full Within 18 Months (Deferred Interest). Offer applies only to purchases made with your Synchrony Bank Credit Card. No monthly interest will be charged on the promo purchase if you pay the promo purchase amount in full 18 Months. If you do not, monthly interest will be charged on the promo purchase from the purchase date. Fixed monthly payments are required equal to 2.50% of the highest balance applicable to this promo purchase until paid in full. The fixed monthly payment will be rounded to the next highest whole dollar and may be higher than the minimum payment that would be required if the purchase was a non-promotional purchase. Depending on purchase amount, promotion length and payment allocation the required minimum monthly payments may or may not pay off purchase by end of promotional period. Regular account terms apply to non-promotional purchases and, after promotion ends, to promotional purchases, except that the fixed monthly payment will continue to be required until the promo purchase is paid in full. For new accounts: Purchase APR is 26.99%; Minimum Monthly Interest Charge is $2. Account Activation Fee is $29. Existing cardholders should see their credit card agreement for their applicable terms. Subject to credit approval. Discount applied at time of contract execution. All purchase prices are to be calculated prior to application of discount. Excludes previous orders, and installations. Offer valid only on Premium and Ultimate windows. All products include professional installation. Window of equal of lesser value of the two being purchased qualifies for 50% off. An independent 3rd party testing firm assessed our Sound Shield glass using ASTM E90 standards. Actual sound dampening performance in the home is affected by a variety of factors including age and composition of building materials and the distance and severity of a noise source. All stated testing results presented were reached under replicable lab conditions, and Thompson Creek makes no explicit or implicit guarantees regarding a baseline or minimum sound-dampening performance in-home. Offer is not valid with any other advertised or unadvertised discounts or promotions. Limit of one discount per purchase contract. Void where prohibited by law or regulation. Offer may be cancelled without prior notice. Offer has no cash value and is open to new customers only. Offer only valid 10/31/17. MHIC #125294, VA # 2705-117858-A, DC Permanent # 8246

| FALL REAL ESTATE GUIDE | SUN GAZETTE | OCTOBER 2017

Some Remodeling Projects Will Pay Out Major Dividends Homeowners who take on remodeling projects gain not only equity and more resale value in their home, they are also more likely to find satisfaction and enjoyment from their home, according to a new report from the National Association of Realtors, with insights from the National Association of the Remodeling Industry. The 2017 Remodeling Impact Report, the second of its kind, surveyed Realtors, consumers who have completed remodeling projects and members of the National Association of the Remodeling Industry. The report reveals the top remodeling projects, as well as well as the increased value – both financially and emotionally – that specific projects bring to homeowners once completed. After completing a remodeling project, 75 percent of owners have a greater desire to be in their home, 65 percent say they have increased enjoyment in their home, and 77 percent feel a major sense of accomplishment when thinking of their completed project. Fifty-six percent felt happy when they see their completed projects, and 39 percent say they feel satisfied. “Realtors understand which remodeling projects and home upgrades will bring the most value to homeowners, whether they are remodeling with the hope of impressing potential buyers, bringing in higher offers or gaining more equity in the home,” said NAR president William Brown, a Realtor from Alamo, Calif. “Realtors also understand that many of these projects are undertaken solely to get more enjoyment from spending time at home. No matter the objectives, Realtors have unique and invaluable insights into how renovations and remodeling will bring the most benefit to homeowners.” Interior projects: For owners looking to sell their home, Realtors named complete kitchen renovations, kitchen upgrades, bathroom renovations and new wood flooring as the interior projects that most appeal to potential buyers. When asked which interior projects yield the largest financial return upon resale, Realtors named hardwoodfloor refinishing (recovers 100 percent of project costs upon resale), new wood flooring (91 percent of costs recovered) and insulation upgrades (76 percent of costs recovered). Bathroom renovations and adding a new bathroom yielded the smallest financial return upon resale, recouping approximately 50 percent of project costs. Exterior projects: When it comes to exterior projects, Realtors said new roofing will recover 109 percent of costs upon resale, more than any other project in the report. New roofing

alswas o named the exterior project that most appeals to buyers, followed by new vinyl windows, a new garage door and new vinyl siding. Brown noted that exterior projects are just as, if not more, important than interior projects when it comes time to sell. “A home’s exterior is its first impression to potential buyers, so any project that improves curb appeal will yield plenty of bang for the buck,” he said. Satisfaction from projects: When it comes to the enjoyment homeowners get from projects, several projects received a perfect Joy Score of 10; Joy Scores range from 1 and 10, and higher figures indicate greater joy from the project. Projects with a perfect Joy Score of 10 included both interior and exterior project of all price ranges, such as a new master/owner’s suite, with an estimated cost of $125,000 for a full makeover, and new steel front doors, with an estimated cost of $2,000. While Americans spent $340 billion on home remodeling in 20151, many homeowners find the idea of attempting a remodeling project too overwhelming to take on. Thirty-five percent of homeowners in the U.S. said they would rather move than remodel their current home. Owners in urban areas are the least likely to take on a project, with only 52 percent saying they would be willing to remodel their home, compared to 55 percent in suburban areas and 70 percent for owners in rural areas. “Even though a remodeling project may seem overwhelming at the onset, working with a professional, qualified remodeler who has the required experience and training can make a big difference,” said Tom Miller, president of the National Association of the Remodeling Industry. “I can’t emphasize enough how important it is to work with a contractor you can trust who adheres to a strict code of ethics and can help define a realistic budget,” he said.

EH)

PUBLISHER’S NOTICE

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

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

r ! TTeNeW e B N A TH

open house 10/15 from 1-4pm EvERYthing DonE FoR YoU!

$1,599,900

Stunning, light-filled and open floor plan includes 6 bedrooms, 6.5 baths a 10,070 square foot lot. This spectacular home is in the sought-after Nottingham, Williamsburg, Yorktown School District. The owners have taken great pride in their home and have invested over $100,000 in updates and improvements! 5 bedrooms and 4 baths are located on the upper level and other features include beautiful Brazilian cherry floors, two gas fireplaces, an open gourmet kitchen with an eat-in area, a finished lower level rec room with a wet bar, a workout room/guest suite, a media room, a two car garage, and more!

6506 n. 36th Street Arlington, vA 22213

Ferguson Real Estate Team RE/MAX Allegiance

703-926-6139

Rob.ferguson@remax.net

TOPSAIL Must Sell by Must Sale by Oct 21 21 October $40,000 $40,000

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3411 N. 3rd Street • $1,035,000

OPEN SUNDAY 1-4PM

• Just 0.6 miles to Virginia Square Metro • 4 BR, 2 BA + Home Office • Beautiful Open Plan Kitchen + Family Room • Formal Dining Room w/ classic box molding • Finished Basement • Hardwood Floors throughout • Detached 1-Car Garage

Original SearS BungalOw 114 N. Edgewood Street • $898,500

OPEN SUNDAY 1-4PM

• In Lyon Park, 0.9 miles to Clarendon Metro • 3 BR, 3 BA + Home Office • Fabulous Gourmet Chef’s Kitchen w/ Vaulted Ceiling, Granite Counters + SS Apps • Renovation design by Concepts & Contours • Grand Master Suite and Master Bath • Yesteryear Charm with all Modern Amenities

Call or text our direct line: 703-975-2500 Team.Cathell@gmail.com www.teamcathell.com Each office is independently owned and operated.

6820 Elm St, McLean VA 22101

OCTOBER 2017 | SUN GAZETTE | FALL REAL ESTATE GUIDE |

Act Now to Maximize Space Availability in Your Garage (StatePoint) – Most people are pressed for garage space, regardless of the size of their house, from DIYers overwhelmed with tools to moms searching for places to store holiday decorations. Toter, a leading manufacturer of carts, cans and containers for use in a wide range of home and work waste management and storage solutions, is offering the following tips for making more of precious garage space. Keep trash in its place: To keep trash and odors contained, select a mobile trash cart with a tight-fitting lid that’s compatible with your haulers’ pickup requirements and comes with a warranty. Some manufacturers also offer cart and can liners and deodorizers to keep your garage smelling fresh. Invest in a multi-purpose job box: Most people tend to have the wrong size toolbox for their needs. Consider the shape, capacity and compartments needed for your tools. Rolling options are great for work done only at home, while a job box may be better for those who do work elsewhere. If portability is important, look at lighter-weight options. Build up, not out: Ceiling-storage racks are an excellent way to use what would otherwise be dead space. Many racks are designed to fit directly above the area where an automatic

door goes up and down. Peg boards for tools and stackable totes are also good choices. Choose multipurpose storage: Needs can change over time, so invest in storage that can be used for a variety of items in multiple ways. For example, large, durable totes can hold lawn gear, tools or camping equipment. Think mobility: Being able to move containers within the garage is important. However, the ability to move them into your vehicle and hit the road quickly also makes life a lot easier. According to Jeniffer Coates, direc-

tor of product development and warranty for Toter, “heavy metal containers are difficult to move, and cheap plastic bins are often too flimsy to stand up to long-term or outdoor use. Consumers will get the most mileage from durable, impact-resistant plastic containers.” These can cost a bit more upfront, but will stand the test of time. Protect items: Moisture and pests cause problems in even the cleanest garage. Look for durable storage containers with tight-fitting, critter-resistant lids. Categorize: Assign and color-code dedicated areas for each type of item

-- tools, decorations, lawn equipment, etc. -- to avoid the hassle of searching. Allow room to grow: While it can be tempting to stuff every square inch, try to leave room for future additions. To ensure everything deserves the space it’s occupying, you can do a yearly purge of unneeded or unused items. Keeping the garage in order is a necessary evil, but with a solid game plan and the right equipment, it’s easier than you think. For more information on finding the right storage solutions for your needs, visit toter.com/storage-solutions.

645 S. Florida St, Arlington, VA 22204 Forest Glen Neighborhood/Washington-Lee High School For Sale $709,000 AR10070210 Solid brick home with a quiet, yet close to DC location that backs up to Glencarlyn Park, a forested natural area and one of Arlington’s best kept secrets Highlights include: • 4 Bedrooms, 2.5 bathrooms, 1 Car Garage, and 2000+ sq ft of finished interior living space • Updated kitchen and baths, and refinished hard wood floors • A bonus heated Florida room and deck • 1/3 acre, 12,000+ square foot lot is on a quiet street • Easy commutes: Just a few blocks to WMATA and ART buses that go directly to Pentagon City, the Pentagon, Ballston, VA Square, Shirlington and/or Rosslyn. Quick access to Rte 50, and Columbia Pike. • Located in the Arlington Public School pyramid with a choice of attending 1 of 5 elementary schools, Kenmore Middle School and Washington-Lee High School

www.beallrehill.com Jeff Beall

Cell: 703-772-0786 20

Alexandra Beall Cell: 703-772-0787

Kathy Rehill

Cell: 703-403-1064

| FALL REAL ESTATE GUIDE | SUN GAZETTE | OCTOBER 2017

Re/Max Distinctive

1340 Dolley Madison Blvd McLean VA 22101

Give Your Home Décor an Update This Fall Season (StatePoint) – With the shorter days and cooler nights of fall can come the urge to hibernate. But first prepare yourself and your home for the season with these cozy and warm accents that will make time spent indoors cozier. Incorporate metallic décor. While you’re breaking out the pumpkins, cornstalks and cornucopias, take a different approach this season and incorporate copper or brass accents. These metallic items will elevate décor, and the orange and yellow tones will complement the changing leaves outside. Try picking out a unique candelabra or vase or small decorative pieces to style the room. Makeover the fireplace. Fireplace season is on the horizon, so start thinking about new ways to make it the focal point of a room. Try painting it with a subtle whitewash for a look that will instantly revive brick and brighten the space. Before you get started, prep the fireplace by scrubbing brick with a wire brush to remove any residue. Layer, layer, layer. Bare floors can make your home feel chilly. Warm up a space by layering area rugs on hardwood floors or to an already carpeted area. Not only will this add color and texture to a room, the extra cushioning will ensure feet avoid the cold, so you can keep your slippers tucked

away. Update the guest bedroom. With the holidays on the horizon, there’s no better time to give your guest bedroom a cozy update. Surprise overnight guests by painting the room a moody green or blue that is on trend and sets a relaxing tone. Don’t forget to incorporate little touches like books or a plant on the nightstand to make them feel at home. Update window coverings. Heavy drapes keep out drafts and make a

room feel luxurious. Switch out summer sheers for curtains with a heavier weight, or layer drapes for an elegant look. Don’t underestimate the power of white paint. Vibrant doesn’t always have to mean using bold colors. Make a space feel brand new again by repainting wood trim a crisp white color. It may seem like a tedious task, but with a little effort, you can completely transform a room. Start by filling in any imperfections,

sanding and cleaning the surfaces to be painted. Then, you’ll want to tape off the wall next to the trim so your handiwork looks like that of a professional. When painting trim, opt for a semi-gloss paint to make elements stand out. Grab your pumpkin spice latte and start adding little touches like these to your home, for a cozy and stylish season. For different project inspirations, visit FrogTape.com.

Host the Holidays in your New Home! We are ready and able to make a full-time commitment to you! Because we work as a Team, we are able to provide you with the type of individual attention that you should expect from your real estate professional. We bring together diverse talents to better serve our clients and provide a stress-free experience, because you deserve the best! Let's get together and talk about your home buying and/or selling plans.

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OCTOBER 2017 | SUN GAZETTE | FALL REAL ESTATE GUIDE |

Richard Nixon’s Retreat in San Clemente Can Be Yours Continued from Page 5 ishly, but his most important guest was Franklin Roosevelt, who used the estate often as a retreat during his presidency in the 1930s. After Nixon purchased it in 1968, he and his family owned it for 12 years and also entertained heads of state and Hollywood stars. During his presidency he used it as his summer residence. After the Watergate scandal and his resignation, Nixon returned to La Casa Pacifica permanently until it was sold in 1980. Sited on a knoll of prime beachfront known for being a mecca for surfers, the estate is on 5.45 acres and is comprised of the main house of 9,000 square feet with four bedrooms and seven baths; a one-bedroom, onebath pool pavilion; a two-bedroom, one-bath guest house; and two guest apartments with an additional three bedrooms and three baths. The lushly landscaped grounds slope gently down to 450 feet of white-sand beach. Grounds also include formal and cutting gardens, vegetable gardens, exotic succulent gardens, a greenhouse, a catering facility with separate entrance, a lighted tennis court, pool and pool terrace, a gazebo on the bluff and great expanses of lawn. Listed for sale at $75 million two

years ago and again at $69 million a year back, Richard Nixon’s former Western White House is again on the market, priced at $63.5 million. Listing agents are Suzanne Perkins of Sotheby’s International (Montecito, California), Bill Fandel of Telluride Sotheby’s International (Telluride, Colo.) and Rob Giem of Compass Realty (Newport Beach, Calif.). – Article courtesy www.toptenrealestate.com. Photos courtesy Sotheby’s International.

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| FALL REAL ESTATE GUIDE | SUN GAZETTE | OCTOBER 2017

OCTOBER 2017 | SUN GAZETTE | FALL REAL ESTATE GUIDE |

INTRODUCING A MODERN EXPRESSION OF LUXURY The Coldwell BankerÂŽ brand has cultivated a tradition of leadership for more than a century. Our quest to continually redefine luxury real estate marketing has brought us to a new identity: Coldwell Banker Global LuxurySM. This modern expression of luxury provides our high-net-worth clients with an extraordinary advantage and real estate experience that is second to none: the prestige of the Coldwell

Banker name, combined with the reach of a global network spanning 49 countries and territories, and the expertise of todayâ€™s leading Property Specialists. The Coldwell Banker Global Luxury program is a leading force in luxury real estate. Contact me today, and together, we can unlock the power of this exceptional program for your home.

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Coldwell Banker Residential Brokerage (703) 524-2100, office (703) 269-2399, direct 4500 Old Dominion Drive Arlington, VA 22207

Coldwell Banker and the Coldwell Banker Logo are registered service marks of Coldwell Banker Real Estate LLC. Coldwell Banker Residential Brokerage is owned by a subsidiary of NRT LLC. If you have a brokerage relationship with another agency, this is not intended as a solicitation.

| FALL REAL ESTATE GUIDE | SUN GAZETTE | OCTOBER 2017