Welcome to Luxury For Less, a weekly column highlighting the best deals in luxury real estate. Written by Brandy Schantz of TTR Sotheby’s International Realty, Luxury For Less offers tips and tricks navigating the competitive real estate market and securing the home of your dreams. To learn more, visit ttrsir.com.
The question I am asked most often right now is, “How will COVID-19 affect the real estate market?”.
If this weekend’s sales volume and open house attendance is any indication, it won’t affect it at all. The stock market and the 10-year treasury yield have reacted negatively but I don’t expect that to affect our low inventory market too soon. While the virus has affected retail and industrial real estate in both China and the U.S., we haven’t seen the effects on residential yet. Inventory is still low and demand is still quite high.
This week’s featured home is a beauty in Great Falls. The landscape and pool is beautiful and the Waterworks of Georgetown bathrooms are spectacular. Situated on nearly 2 acres, High Hill has plenty privacy and serenity. The custom wine bar and walk-in wine cellar shouldn’t be missed. Now priced at $1,649,000 for nearly 7,000 sq. ft., this home is a lot of luxury for your money.
To see this beautiful home or any of the other homes on the market in the D.C. area, please contact Brandy at [email protected] or 571-263-0206.
10112 High Hill Court Great Falls (Reduced $50,000)
Check out the rest of this week’s Luxury for Less listings:
- 1750 Gilson Street Falls Church (Reduced $100,000)
- 1302 Calder Road McLean (Reduced $60,000)
- 9998 Blackberry Lane Great Falls (Reduced $250,000)
- 406 Plum Street SW Vienna (Reduced $98,000)
The properties listed are a small selection of properties available in the Tyson’s Corner area. For a full list of properties listed on MLS and private exclusives, please contact Brandy Schantz.
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
The large stock market losses over the last few weeks are a great opportunity to better understand the impact losses have on your investment portfolio and your long-term wealth.
Improving your knowledge of how investment losses work can help you safely navigate the dangerous and uncertain markets we are facing with greater confidence.
When investors are asked why they choose to invest their money, a common answer is they want their money to work for them and grow over time by benefiting from the powers of compounding. Regrettably, most investors fail to realize that compounding works in both directions and compounded losses can permanently reduce the wealth you accumulate from investing.
Being successful at anything in life usually comes down to the fine details, profitable investing is no different. As you watch the markets from day-to-day it is easy to make critical miscalculations. For example, if your portfolio losses 1% today, thanks to compounding you must earn more than 1% tomorrow to recover from your loss. Simply stated, whenever your portfolio takes a step back, it must take more than a step forward to get back to where it started.
Unfortunately, the news about compounded losses gets worse. The larger the loss your portfolio suffers, the exponentially larger your gains must be in the future to recover and get back to even. This means that the returns you need to earn to recover from losses grow faster than the losses themselves. The table below shows the returns you must generate (right column) to recover from different size investment losses (left column).
Returns Required to Recover from Investment Losses
Source: 3Summit Investment Management
The impact losses have on a portfolio is a detail commonly ignored because of a misunderstanding of the math behind how investment returns work. Sometimes a short video is worth a thousand words. View the quick video below to learn why you must earn higher returns than what you lost to get your portfolio back to even.
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 have an update on The Boro? How is it as a neighborhood and what housing options are available?
Answer: The Boro is the largest mixed use project in the heart of Tysons with many dining and entertaining options. I spent some time there this past weekend enjoying the spring like weather and checking the new businesses that have already opened. It’s really coming along at a fast pace and there’s a lot coming soon (this year for sure).
With the construction of the Boro, Tysons will be transformed into a walkable, sustainable, urban center that will be home to up to 100,000 residents and 200,000 jobs. Tysons is envisioned to become a 24-hour urban center where people live, work and play; where people are engaged with their surroundings; and, where people want to be.
Here are the top reasons that make The Boro an awesome neighborhood:
1. Location
D.C. is a 30 minute drive away; Fairfax, Arlington and Dulles Airport are roughly 20 minutes each. There are 3 Metro stations nearby (Tysons Corner, Greensboro, and Spring Hill) with the Orange and the new and expanding Silver line. Tysons is located off of 495, just a few minutes away from I-66, Route 7 and Dulles Toll Road.
2. Things To Do
With the construction of The Boro, Tysons will become a more walkable neighborhood. Their signature park, Boro Park, will be over an acre of green space and will host different events, such as outdoor concerts, movies on the green, markets and festivals. Surrounded by retail, office, restaurants and a movie theater, the park is activated day and night.
Some of the businesses that are now open at the Boro are Flower Child (healthy food offering amazing bowls!), Fish Taco, North Italia (great pizza and wine selection), Icon Theatre, F45 Functional Training, Ethan Allen furniture, My Eye Dr and my favorite, Whole Foods.
The Whole Foods has a trendy food court that includes Rappahanock Oyster Bar, Sushi, Donuts, Officina (Italian Food) and the High Point Club. It also has self-serve wine and draft beer so you can sip and shop. Also, they have an outdoor sports bar with great views. Here’s a link to all their eateries.
A few businesses opening soon are: Bluestone Lane Coffee, Caliburger, El Bebe Tacos, Jeni’s Splendid Ice Creams, Poki DC, Boro Cleaners and Colour Bar.
There are many dog park options, and if you’re outdoorsy you are just minutes away from Wolf Trap Foundation for the Performing Arts, Great Falls Park for hiking and amazing views and a 45 minute drive to the mountains.
They also host outdoor events open to the general public.
Laura Schwartz is a licensed Realtor in VA, D.C. and MD with McEnearney Associates in McLean. Reach the office at 703-790-9090.
The 2020 National Cherry Blossom Festival opens on March 20 and runs until April 12.
Although they haven’t officially forecasted the peak bloom dates, they hint that it should be around the end of March/1st April. During the Festival, there are events almost everyday — popular ones include the Kit Festival on the 28th, the parade on the 4th, Cherry Blossom Ten Miler Run and 5k Run-Walk on the 5th, and Petalpalooza on the 11th that ends with a fireworks show on the river.
If you’re planning on visiting the Cherry Blossom Festival this year, I have some tips to help you make the visit a little less stressful.
- The event takes places in the Tidal Basin, which is a short walk from the following Metro Stations: Archives-Navy Memorial-Penn Quarter, Federal Triangle, Foggy Bottom, L’Enfant and Smithsonian stops.
- You can reserve a parking spot ahead of time through SpotHero to get 50% off parking. I highly recommend doing this ahead of time to guarantee a spot. If you park at the Mandarin Oriental Hotel, there’s a back staircase that leads right to the Tidal Basin.
- You can bike to the event. They’ll be offering extra bike parking at the Jefferson Memorial.
- It’s always easier to bring your own food than brave the lines, or look for a food vendor. That said, there are a bunch of restaurants along the Wharf that are easy to get to by walking from the Tidal Basin.
Want to skip the crowds but still want to check out the trees? Meadowlark Botanical Gardens in Vienna has their own peak bloom you can find on their Facebook page.
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.
104 Moore Avenue SW, Vienna
6 BD/5.5 BA
Agent: Kw Metro Center
Listed: $1,645,000
Open: Sunday 1-4 p.m.
2905 Westcott Street, Falls Church
3 BD/3 BA
Agent: Keller Williams Realty Falls Church
Listed: $699,000
Open: Sunday 1-4 p.m.
1944 Burfoot Street, Falls Church
6 BD/5.5 BA
Agent: McMullin Real Estate, Llc
Listed: $1,350,000
Open: Sunday 2-4 p.m.
614 Beachway Drive, Falls Church
3 BD/2.5 BA
Agent: Realty Connection
Listed: $695,000
Open: Sunday 1-4 p.m.
1110 Cottage Street, Vienna
3 BD/3 BA
Agent: Long & Foster Real Estate, Inc
Listed: $719,000
Open: Saturday 1-4 p.m.
10206 Woodrow Street, Vienna
4 BD/3 BA
Agent: Re/Max Allegiance
Listed: $785,000
Open: Sunday 1-3 p.m.
912 Peacock Station Road, McLean
5 BD/5.5 BA
Agent:Long & Foster Real Estate, Inc
Listed: $2,269,000
Open: Sunday 2-4 p.m.
7206 Thrasher Road, McLean
5 BD/6 BA
Agent: NetRealyNow.com, Llc
Listed: $1,925,000
Open: Sunday 1-3 p.m.
1648 Birch Road, McLean
4 BD/3.5 BA
Agent: Keller Williams Realty
Listed: $1,100,000
Open: Saturday & Sunday 2-4 p.m.
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].
ShowPlace ICON Theatre at The Boro is officially open!
You can now access all of the latest releases, highest-quality visuals and sounds, and luxurious accommodations 7 days a week. This state-of-the-art facility brings you all of the newest technology for premium movie-watching experiences, including wall-to-wall screens, Dolby Atmos sound and all-laser projection. Centrally located in the heart of Tysons, the theatre is just a short walk from the nearby Metro Station and Whole Foods location.
Plus, guests can customize their experiences according to individual preferences. Take advantage of the plush, heated recliners, adjustable headrests and extensive legroom. Select your reserved spot from an array of viewing experiences, ranging from standard, 226-seat auditoriums to more intimate, 45-seat auditoriums.
Choose from our vast menu of light bites, fresh appetizers and gourmet entrees, which can be enjoyed during the movie or in one of our charming restaurants.
During a family outing or casual bite with friends, visit the ICON Bistro for a tasty American cuisine that’s sure to have something for everyone. Guests over 21 can also join us in the Lobby Lounge, which provides a more comfortable and mature environment. Here you can find crave-worthy bites and gourmet entrees to pair with locally sourced craft beer, wine and a curated list of cocktails.
This theatre is completely redefining the moviegoing experience. ICON Tysons is pairing its industry-leading customer service and innovative app/website to ensure that nearly any request can be met. Auditorium doors close upon a film’s start, a unique policy meant to ensure that screenings are not interrupted.
Guests can get even more benefits by joining one of ICON’s monthly membership programs, which include free online booking, special pricing on select titles, free small popcorn and other exclusive offers. And all guests over 21 can enjoy Happy Hour deals in the Lobby Lounge Monday through Friday.
Experience the latest and greatest in moviegoing now by checking out screening times on the ShowPlace ICON website.
Welcome to Luxury For Less, a weekly column highlighting the best deals in luxury real estate. Written by Brandy Schantz of TTR Sotheby’s International Realty, Luxury For Less offers tips and tricks navigating the competitive real estate market and securing the home of your dreams. To learn more, visit ttrsir.com.
Spring market is really kicking it to gear and we’ve seen many more homes come on the market.
This week’s feature home is in a hot neighborhood in Vienna. Homes in this neighborhood tend to be larger, on larger lots and sell for considerably more than homes in other areas of Vienna. This southeast section of Vienna is just across the street from Westwood Country Club, next to the W&OD Trail, easily walkable to downtown Vienna and just minutes from Tysons Corner.
You know that point when traffic starts to really back up on Maple Ave? Don’t worry about it, you turn left just before the traffic and in just seconds, you’re home! This neighborhood is seeing a lot of large, luxurious homes being built. Homes in this neighborhood range from just under $2M to around $3.5M. This 4-year young home has a great backyard with a fire pit, an amazing bar in the basement, and a wine cellar to die for. Why buy new for hundreds of thousands of dollars more when you can buy this recently built gem?!
To see this beautiful home or any of the other homes on the market in the D.C. area, please contact Brandy at [email protected] or 571-263-0206.
301 Niblick Drive SE Vienna (Reduced $50,000)
Check out the rest of this week’s Luxury for Less listings:
- 2770 Winchester Way Vienna (Reduced $100,000)
- 9901 Woodrow Street Vienna (Reduced $25,000)
- 2144 Pimmit Drive Falls Church (Reduced $26,000)
- 8220 Crestwood Heights Drive #1818 McLean (Reduced $299,500)
The properties listed are a small selection of properties available in the Tyson’s Corner area. For a full list of properties listed on MLS and private exclusives, please contact Brandy Schantz.
Virginia Tech’s forthcoming Innovation Campus continues to develop as the university works to deliver 750 master’s degree graduates annually by the end of the decade.
While the new campus will help cement the university’s regional footprint, Virginia Tech has been quietly providing graduate education opportunities in the greater Washington, D.C., metro area since 1969.
Virginia Tech’s Pamplin College of Business has offered its MBA programs in this region for decades and more recently made the decision to narrow its focus to working professionals in urban centers across the commonwealth.
“What we did at Virginia Tech a few years ago was to say that we really want to focus on the working professional — someone who wants to enhance their career or make a change in the direction of their career, but not at the expense of continuing to be a business professional,” says Pamplin Dean Robert Sumichrast. That allows those students to come into the classroom, he adds, “and use what they’ve learned as part of the experience of the MBA program.”
The No. 14 nationally-ranked Evening MBA program is based in Falls Church and designed to provide maximum flexibility. Students can change their course load each semester to balance work and other commitments. They also have the option to focus their degree in one of 10 specialization areas, including traditional business topics like finance and management, and some more niche areas like healthcare information technology.
Arlington is home to the Executive MBA program, an 18-month, cohort-based option for mid-career professionals. The curriculum is centered around experiential learning modules that provide students with hands-on experience in topics like business analytics and leadership and governance.
The Professional MBA program is a 24-month hybrid option with once-per-month in-person classes that rotate between Richmond, Roanoke and Newport News.
Pamplin’s focus on working professionals extends beyond its MBA programs. The college also offers part-time formats for its Master of Science in Business Administration — Hospitality and Tourism Management and Ph.D. in Business — Executive Business Research at the Falls Church location.
A 100% online Master of Information Technology offered in collaboration with the College of Engineering is available to part-time students across the globe and can be earned as a dual degree with the Evening MBA program.
To learn more about Virginia Tech’s MBA programs, visit mba.vt.edu or register to attend an upcoming information session.
Laura Schwartz is a licensed Realtor in VA, D.C. and MD with McEnearney Associates in McLean. Reach the office at 703-790-9090.
Maybe you had a cold once and decided not to take the medicine, maybe you skipped that advisory to “finish all of these meds”, whatever the reason — your medicine cabinet is full of old prescriptions you don’t need and don’t know what to do with.
Or maybe it’s just me? I have a bag I’ve been looking to dispose of for a while, so I found a list of places to take old prescriptions to safely dispose of them.
There are national “take-back” days and the Town of Vienna usually has theirs in October and April. The National Take Back Day for 2020 is Saturday, April 25.
If you’re looking for something other than that day, try one of these locations:
- Spectrum Healthcare: 10580 Arrowhead Drive, Fairfax
- CVS in Merrifield: 8124 Arlington Boulevard, Falls Church (near the Five Guys and Elephant Jumps)
- INOVA Emergency Room Pharmacy: 3300 Gallows Road, Falls Church (green metal box in the Pharmacy of the ER)
- Fairfax County Policy Station in McLean: 1437 Balls Hill Road, McLean
- Fairfax County Police Station in Fairfax: 12300 Lee Jackson Memorial Highway, Fairfax
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 Melissa L. Watkins, Esq.
Failing to accommodate an employee based on their religious beliefs can be costly for an employer.
Recently, a hotel dishwasher in Miami was awarded $21.5 million in damages after her employer refused to grant a religious accommodation, requiring that she work on Sundays and eventually terminating her. While the employee will not likely be able to recover this amount due to a cap on punitive damages, the award demonstrates the courts and Equal Employment Opportunity Commission’s (EEOC’s) heightened attention to employers’ obligation to adequately respond to employees’ requests for religious accommodations.
Religious Discrimination and Title VII
Title VII of the U.S. Code protects workers from employment discrimination based on their religion. The law forbids discrimination in any aspect of employment, including hiring, firing, pay, job assignments, promotions, training, benefits and other terms and conditions of employment. Title VII requires reasonable accommodation of an employee’s sincerely held religious beliefs, observances, and practices when requested.
The need for religious accommodation most often arises where an individual’s religious beliefs, observances, or practices conflict with a specific task or requirement of the job or application process. Accommodation requests often relate to work schedules, dress, grooming, or religious expression or practice while at work.
The prohibition on religious discrimination and the requirement for reasonable accommodation apply whether an employee’s religious views are mainstream or non-traditional, and even if the views are not recognized by an organized religion. An employer cannot require that an employee provide documentation from an established religious congregation.
Under Title VII, employers are required to accommodate the religious practices of their employees unless a requested accommodation can be shown to be an undue hardship. An accommodation may cause undue hardship if it is costly, compromises workplace safety, decreases workplace efficiency, infringes on the rights of other employees, or requires other employees to do more than their share of potentially hazardous or burdensome work. However, customer preferences or even the anticipated loss of business are not considered undue hardships.
How Religious Discrimination Claims are Established
In order to establish a claim of discrimination for an employer’s failure to grant a religious accommodation, employees generally need to show that the following:
(1) he or she has a bona fide religious belief, the practice of which conflicted with their employment
(2) he or she informed the agency/employer of this belief and conflict
(3) the agency/employer nevertheless enforced its requirement against the employee
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