Three Stones Residential agents pride ourselves on our consultative service approach, local expertise and real estate market knowledge. With over 26 years of business experience in the DMV, we have consistently performed in the top 2% of local Realtors and are currently the #1 group at Keller Williams Metro Center.
The following properties were recently listed in the Tysons, McLean, Vienna and Falls Church areas.
- 8878 Ashgrove House Lane, Vienna — $799,900
- 104 Moore Avenue SW, Vienna — $1,625,000
- 621 Pine Street SE, Vienna — $1,425,000
- 3106 Valley Lane, Falls Church — $899,950
- 304 Great Falls Street, Falls Church — $950,000
- 1100 Pine Hill Road, McLean — $865,000
- 1150 Old Gate Court, McLean — $1,499,900
- 8350 Greensboro Drive #218, McLean — $339,900
Our role is to offer sound advice and guidance to our clients in order for them to achieve their goals in either buying, selling, leasing or managing real estate. We are truly “Your Home… for Everything Real Estate.” To schedule a private showing of these or any other properties of interest please do not hesitate to contact us here or email us at [email protected].
This is a sponsored column by 3Summit Investment Management, LLC based in Vienna, VA. 3Summit designs custom, modern investment portfolios and has unique expertise in managing investment risk.
By Dan Irvine | Principal, 3Summit Investment Management
U.S. stocks are generally the highest returning assets in a portfolio and therefore often make up the largest percentage of an investment portfolio.
The problem U.S. stocks present investors is that while historically they generate high returns, they are also very risky and are usually the primary contributor to portfolio losses. Many investors are not comfortable losing 30%, 50% or more of their total assets during market downturns, therefore some level of risk management is required to prevent such large losses.
Conventional diversification seeks to mitigate the risk of U.S. stock ownership by investing in other asset classes including foreign stocks, U.S. and international bonds, commodities, real estate and many others. The investment theory behind this risk management technique is that historically the value of different asset classes rarely move in perfect tandem with the value of U.S. stocks, in some cases, the value of other asset classes move in the opposite direction to the value of U.S. stocks.
The varying degrees of independence in the value of different asset classes helps to reduce the risk of loss because when U.S. stocks are suffering large losses, it becomes likely that other asset classes are losing less or possibly even generating positive returns.
In either case, the size of the total portfolio loss is reduced through conventional diversification because the portion of the portfolio not invested in U.S. stocks is likely to be generating either smaller losses or offsetting U.S. stock losses through positive returns. Conventional diversification is the investing equivalent to the old saying, “don’t put all your eggs in one basket”, which sounds good but does it always work for investors?
Why Conventional Diversification Fails When You Need It Most
Conventional diversification is not the risk management panacea that the investment management industry would have you believe.
Unfortunately, during periods the U.S. stock market is suffering its worst losses, conventional diversification does little to protect a portfolio from capturing larger than expected losses. It gets worse, when U.S. stocks are experiencing their largest gains, conventional diversification works against portfolios by limiting the gains captured.
To summarize, conventional diversification tends to fail when you need it most and drags down your gains when you need it least. Almost all investors use conventional diversification as the only risk management technique to help lower their risk of loss. The ubiquity of conventional diversification makes it very important that investors understand why it often fails to protect from large losses while at the same time lowering returns during large U.S. stock market rallies.
Below is a brief explanation of why conventional diversification often fails investors, but to get a full explanation, I recommend listening to our podcast episode that dives much deeper into this very important investing topic.
PODCAST: Conventional Diversification Fails Again
Conventional diversification fails during extreme market events because the normal relationship in how the values of each asset class move relative to U.S. stocks breaks.
Asset classes that usually do not move strongly in the same direction as U.S. stocks, suddenly begin to move in near lockstep and in the same direction as U.S. stocks. When this occurs, conventional diversification fails to reduce portfolio losses and instead increases losses beyond what an investor would expect.
To make matters worse, when the U.S. stock market is generating abnormally high returns, conventional diversification also fails by reducing the size of portfolio returns. During normal markets asset classes that usually move more strongly in the same direction as U.S. stocks begin to move in a less coordinated fashion and sometime in the opposite direction, therefore dragging down portfolio returns.
Learn More
If you would like professional assistance in evaluating your investment portfolio and strategy, we happily provide free consultations and analysis. Also, consider gaining more unique investing insights by listening to our popular podcast or viewing our investing video series.
3Summit Investment Management is a fiduciary, fee only investment advisor providing clients with an alternative to outdated, conventional investment portfolios. We design custom, modern portfolios capable of delivering greater wealth accumulation with much lower levels of risk. To learn more about how we can help you improve your long-term investing results call (571) 565-2161, email ([email protected]) or visit 3Summit.com.
This regularly-scheduled sponsored Q&A column is written by Val Sotillo, Northern Virginia-based Realtor and Falls Church resident. Please submit your questions to her via email for response in future columns. Enjoy!
Question: We’re considering buying a house and we’ve been attending a few virtual open houses. There is one property we really liked, and the agent mentioned the seller needs to do a rent-back for 4 weeks after selling. How does a rent-back work?
Answer: A Seller’s Post-Settlement Occupancy, more commonly referred to as a rent-back, allows a home owner to sell their home, collect the proceeds and continue living in the home for a pre-determined period of time after closing.
The most common scenarios for a rent-back are:
- The seller has a need for the sale proceeds quickly; such as applying them towards the purchase of their next home. A word of caution on this strategy for sellers — they have to make sure that they’ll be able to find and close on their next home before the rent-back period ends.
- Moving out is burdensome and/or highly disruptive to the seller’s family and/or job that they don’t want to start the process until they’re under contract and all buyer contingencies have expired.
- Sellers need to remain in their home until the school year is finished.
- Sellers want to avoid a double move, first to interim housing and then to a new home. It can be costly to store belongings, and moving twice can be a huge inconvenience.
- Buyers are flexible with their move-in date, or their current lease doesn’t end until weeks after settlement.
How Rent-Backs Work
The Northern Virginia Association of Realtors contracts (as well as other regional contracts) provide a standard form for a Seller’s Post-Settlement Occupancy Agreement so you don’t need to worry about hiring an attorney. It functions as a short-term lease including how much the seller will pay the buyer for the rent-back, how long the rent-back lasts, a security deposit and a penalty for staying past the rent-back period.
Buyers will conduct a pre-closing walk-through before they purchase the home where they have all the rights provided to them in a normal sale. At the end of the rent-back, the new owners will conduct another walk-through once the previous owners move out, which is similar to that of a walk-through at the end of a normal rental period.
If the buyers are financing the home as a primary residence, the rent-back has a limit of 60 days per the buyer’s loan regulations.
If the previous owners caused damage during the move-out, the new owners can make a claim against the security deposit, generally held by the Title Company who handled the sale.
Laura Schwartz is a licensed Realtor in VA, D.C. and MD with McEnearney Associates in McLean. Reach the office at 703-790-9090.
It’s finally time for the return of the farmers market!
The Vienna one opened this Saturday, while Falls Church is still on Saturday, McLean is on Friday and the Mosaic District is the host for Sundays.
Each market will have their own vendors, some overlap, but all will generally follow the same rules:
- Wear a mask
- Go early to avoid a line — they’re limiting the number of people inside the market at a time
- You can’t pick your own produce — we found fruit to be pre-packaged, and the veggies were taped off so the vendors will pick for you what you order
- There are plenty of spaces to step aside and eat/drink whatever you buy in comfort
- Bring a credit card instead of cash
I know for my family, we partly go for the ambiance — beautiful weather, sometimes live music and someone cooking break fast for you. We were still able to feel that way this past Saturday at the Vienna market, and again at the Sunday one in Mosaic.
Here are some of my favorite vendors:
Vienna
- Green Heart Juice — Liquid Gold for adults, Summer Crush for kids
- Call Your Mother Bagels — Amazing everything bagels
- Mama’s Donut Bites — Apple Cider Donuts: they didn’t have the truck, but they did have a stand
- Savagely Good — Cinnamon Rolls
- Almond Croissant at the Falls Church City Market (there are several baked good vendors, but there’s one in particular that has the best croissants, also sold at Mom & Pop at Mosaic)
- McCleaf’s Orchard — Fruits and veggies
- Crepe Shop at the Vienna Market — My kids LOVE this place for breakfast. They have egg crepes, as well as savory or dessert crepes.
- Swirly Girl Creamery — Cheese
Photo by Jakub Kapusnak/Unsplash
Laura Schwartz is a licensed Realtor in VA, D.C. and MD with McEnearney Associates in McLean. Reach the office at 703-790-9090.
No babysitter? No problem! When Clarity opened their “a lot of clarity” concept with individually, socially distanced tables outside, my husband and I jumped on the idea (in fact, we have a reservation tonight) since we haven’t had a “date night” in over 3 months.
We plan to bring our reliable, charged babysitter — the iPad — and have our kids sit in the back of our SUV and properly ignore them for the duration of our dinner (let’s be honest, with the iPad, they’ll be happy to ignore us too). But this got me thinking to what else we could do to get a break from pandemic life.
Mosaic District — they have their green space blocked off from traffic with tables outside. Perfect for getting take out from Alta Strada, Jinya, Bar Taco, Matchbox or one of your other favorites and sitting outside for a meal.
Picnic — there are a lot of open green spaces around Vienna, Oakton and McLean where you can pack a lunch, get take out, and bring a blanket to sit outside for a quiet picnic. Break up the norm of your kitchen table, try getting take out from one of the spots who doesn’t have outdoor seating and may as a result not get as much traffic. Think Mo:Mo House, Social Burger, or McLean Family Restaurant.
Outside patio at Bazin’s or Blend 111 — call for reservations!
Neighborhood dinner date — one night a bunch of the mom’s in my neighborhood each brought our own chair and beverage and we set up shop on a neighbor’s driveway for a socially distanced “Mom’s Night Out.” It was a fun change of pace, and much needed break from the every day. One idea could be to have all of your neighbors bring their own drinks/dinner and have everyone sit outside on their lawns and have a neighborhood dinner. Social interaction, socially distanced.
Make sure you call your favorite restaurant and see if they’ve set up outdoor seating. I know a lot of places that didn’t have it before have found ways to create space now.
This is a sponsored column by attorneys John Berry and Kimberly Berry of Berry & Berry, PLLC, an employment and labor law firm located in Northern Virginia that specializes in federal employee, security clearance, retirement and private sector employee matters.
By John V. Berry, Esq.
The Commonwealth of Virginia enacted a number of new employment laws this year, completely transforming employee rights as never before.
One of these new employment laws in Virginia involves providing Whistleblower rights for employees. In the past, employees had to rely on a very weak system of whistleblower protection that was developed through the courts and case law. Essentially, there was little protection for those terminated for blowing the whistle on an employer’s illegal conduct. That has now changed and this article discusses the new Virginia Whistleblower legislation.
Virginia’s New Whistleblower Law
Virginia’s new whistleblower law, enacted in House Bill 798, was sponsored by State Delegate Karrie Delaney, was signed into law on April 11, 2020, by Governor Ralph Northam and becomes effective on July 1, 2020.
The new law prohibits employers from discharging, disciplining, threatening, discriminating against, or penalizing an employee or from taking other retaliatory action with respect to the employee’s compensation, terms, conditions, location or privileges of employment.
How an Employee May Be Protected Under the Whistleblower Protection Law
An employee may be protected by Virginia’s new Whistleblower Protection Law if they:
(1) Report in good faith (or cause another employee to report in good faith) a violation of state law, federal law, or regulation to a supervisor, law enforcement or to any governmental body (e.g., Fairfax/Arlington County, City of Alexandria, federal government authorities).
(2) Are asked by law enforcement or a governmental body to participate in an investigation, hearing or inquiry.
(3) Refuse to commit a criminal act for the employer that would expose the employee to potential criminal liability.
(4) Refuse an employer’s order to perform an act that would violate any federal or state law or regulation (and explain to their employer that their refusal is based on potentially violating the law).
(5) Testify before law enforcement or a governmental body if it is connected to an investigation of an employer’s unlawful conduct.
Employee Remedies
If an employee is subject to whistleblower retaliation, then she/he may file a lawsuit within a year of the retaliation. Courts in Virginia may issue an injunction against the employer’s retaliation, reinstate a wrongfully terminated employee, provide appropriate backpay, attorneys fees and compensation and costs.
The law is new and more complex than provided in this article so it is important to obtain legal advice if a suspected case of retaliation develops.
Contact Us
If you are in need of employment law representation or advice, please contact our office at 703-668-0070 or through our contact page to schedule a consultation. Please also visit and like us on Facebook or Twitter.
Three Stones Residential agents pride ourselves on our consultative service approach, local expertise and real estate market knowledge. With over 26 years of business experience in the DMV, we have consistently performed in the top 2% of local Realtors and are currently the #1 group at Keller Williams Metro Center.
The following properties were recently listed in the Tysons, McLean, Vienna and Falls Church areas.
- 7422 Tillman Drive, Falls Church — $1,495,000
- 1570 Spring Gate Drive #7103, McLean — $424,900
- 1600 Great Falls Street, McLean — $1,475,000
- 1015 Salt Meadow Lane, McLean — $925,000
- 2606 Ogden Street, Falls Church — $975,000
- 3364 Annandale Road, Falls Church — $669,900
- 1677 Trap Road, Vienna — $824,900
- 10013 Murnane Street, Vienna — $789,900
- 1725 Fox Run Court, Vienna — $880,000
Our role is to offer sound advice and guidance to our clients in order for them to achieve their goals in either buying, selling, leasing or managing real estate. We are truly “Your Home… for Everything Real Estate.” To schedule a private showing of these or any other properties of interest please do not hesitate to contact us here or email us at [email protected].
This regularly-scheduled sponsored Q&A column is written by Val Sotillo, Northern Virginia-based Realtor and Falls Church resident. Please submit your questions to her via email for response in future columns. Enjoy!
Question: Do you foresee the real estate market going back to normal in the summer?
Answer: We made it to June! Can you believe it?! Spring has been full of uncertainty and we’ve all been adjusting to a whole “new normal”. Honestly, it’s impossible to predict the future but I’m very optimistic that we’re going in a positive direction now that coronavirus-related restrictions are easing and the economy is reopening.
Here’s why:
- While the number of transactions in the Tysons area is lower compared with last spring, they did not drop as much as many industry experts predicted. May has been more favorable, with increasing numbers of properties under contract and new listings, according to MLS data.
- Normally we see sales really ramp up in March and April, but amid the pandemic and widespread job losses, many buyers wanted to wait not only until they felt more secure in their jobs but also until they could physically step into the homes they were considering. As COVID-19 cases (hopefully) drop significantly and states are loosening restrictions, buyers are becoming more comfortable with the home buying process as they’ve gotten used to taking precautions such as wearing masks and keeping social distance.
- During these past months at home, homeowners had lots of time to figure what type of space is more valuable to them. Many people have found that they need a home with more space, while others have decided to downsize. What I’m seeing more often on my buyer clients must-have list, is a true home office and not just a desk area in the kitchen. The demand to work from home will remain strong motivating buyers to look for a separate space for that home office.
- Although home sales have declined due to social distancing and economic unpredictability, home prices are still strong in the Northern Virginia market. In the past couple of months, most of the buyers I represented were competing for properties with multiple offers and they either offered full asking price or above.
- Active sellers are key to a healthy market. We are seeing sellers getting their properties on the market as they are more confident with pricing than the last couple of months and they’re more comfortable as buyers and agents are taking health precautions when showing a property for sale.
- Another driver for a stronger third quarter is Millennials with families want to settle in new homes before the school year begins. Don’t expect an increase in sales to last into the fourth quarter though.
- The low mortgage rates, without a doubt, is helping to entice buyers back into the market.
While all these are signs of a market kicking into more of a recovery mode, there are still some challenges we’re still to overcome:
- Sellers haven’t come back as quickly to the market as buyers.
- Even if buyers can find a home, they may not be able to secure a loan. Mortgage rates are historic lows. But today’s reality is lenders are increasingly getting tougher on qualifying criteria.
Tysons Market Update
Here are some numbers for April and May’s real estate transactions within 5 miles from Tysons:
April
- 235 Properties sold
- 192 Properties went under contract
- 26 Average days on the market
May
- 219 Properties sold
- 272 Properties went under contract (considering they close within 30 days, we should expect higher numbers in June)
- 21 Average days on the market
Fairfax County in May
In the chart below you can see our current inventory is about half of what it was in June 2019. However, the number of properties under contract is pretty close which means buyers are very active in this market.
Final Thoughts
We’ve seen a quick bounce back due to record-low mortgage rates and virtual home shopping options and I’m positive that our market will remain strong throughout this year. I will keep you posted!
If you’d like more information, or would like a question answered in my column, please reach out to [email protected]. I hope to hear from you soon.
Val Sotillo is a licensed Realtor in Virginia, Washington D.C., and Maryland with Real Living At Home, 4040 N. Fairfax Drive, Suite #10C Arlington, VA 22203, 703-390-9460.
Laura Schwartz is a licensed Realtor in VA, D.C. and MD with McEnearney Associates in McLean. Reach the office at 703-790-9090.
Since quarantine hit, Facebook stalking has been my new (okay, fine, continued) source of entertainment research.
Anything “new” to make the day more exciting and something to look forward to. Recently I stumbled upon a feature where you can request these 2 dessert trucks to come to your neighborhood and deliver treats to you and your neighbors.
Scoops2U: Ice Cream
Follow their Facebook page for details on where the truck will be. You can visit their website for updates as well and see the flavors. There you can request a visit to your part of town.
Kona Ice: Shaved Ice
Follow this Facebook page (there are many as there are trucks all over NoVA). You can see where they’ll be and at what time. We placed an order online, paid online, and then my kids got to pick their flavor when the truck rolled up in front of my house. A great way to chat on our lawn with our neighbors.
It was a small treat that was affordable as well as exciting!
If you want other options, don’t forget that these places are all doing contact-less pick up:
Three Stones Residential agents pride ourselves on our consultative service approach, local expertise and real estate market knowledge. With over 26 years of business experience in the DMV, we have consistently performed in the top 2% of local Realtors and are currently the #1 group at Keller Williams Metro Center.
The following properties were recently listed in the Tysons, McLean, Vienna and Falls Church areas.
- 7422 Tillman Drive, Falls Church — $1,495,000
- 1570 Spring Gate Drive #7103, McLean — $424,900
- 1624 Hicks Drive, Vienna — $799,990
- 600 Tazewell Road NW, Vienna — $1,600,000
- 422 Dominion Road SE, Vienna — $788,888
- 6706 Haycock Road, Falls Church — $1,049,900
- 5979 Jan Mar Drive, Falls Church — $799,000
- 6900 Fleetwood Road #322M, McLean — $1,149,900
- 6368 Lynwood Hill Road, McLean — $1,200,000
Our role is to offer sound advice and guidance to our clients in order for them to achieve their goals in either buying, selling, leasing or managing real estate. We are truly “Your Home… for Everything Real Estate.” To schedule a private showing of these or any other properties of interest please do not hesitate to contact us here or email us at [email protected].
