Following in the footsteps of his Fairfax County counterpart, Falls Church City Manager Wyatt Shields is proposing a one-cent reduction in the real estate tax rate as part of the city’s advertised fiscal year 2022 budget.
However, because of rising assessed values, the average homeowner will still experience a $291 increase in their tax bill next year.
Presented to the city council on Monday (March 8), the advertised budget increases city government operating expenses by 2.3% (or $946,567) and public schools funding by 2.5% (or just over $1 million).
“With vaccines rolling out, and springtime in the air, we need to maintain vigilance but certainly have optimism toward the future — and hopefully, this budget reflects that as well,” Shields said.
Falls Church City School Board Chair Shannon Litton called the proposed $1 million funding increase for FCCPS “a bit better than we expected, given COVID-19.” The school division will also be receiving an additional $20,000 from the state and $31,000 from the federal government, she said.
Shields said the budget keeps revenues in line with forecasts from December without proposing a larger increase on residential real estate taxpayers. The city saw year-over-year increases in taxes on groceries and online sales, but a large decrease in revenue from hospitality taxes.
Highlights of the budget include funding for:
- $145,000 for body-worn cameras and civilian positions to support the department, which is a first step in addressing recommendations from the Use of Force Review Committee
- $200,000 in coronavirus contingency funds to address uncertainties, either revenue shortfalls or increased demand for services and assistance
- $150,000 to develop a Parks Master Plan
- $100,000 for the Affordable Housing Fund to supplement the $3.75 million Amazon REACH grant funds and leverage future developer contributions.
Shields has also proposed increasing stormwater management rates by 2%, or $4, for a median homeowner to pay for projects intended to address smaller-scale nuisance flooding. He anticipates that the city will need to increase rates by 10 to 15% for the next five years to fund six larger-scale stormwater management projects.
The advertised budget gives Falls Church City employees a 3% merit compensation increase, and a 3.5% step increase to uniformed police staff, but Shields told the city council on Monday that this small-scale growth is not sustainable in the long-term.
“My budget guidance for six years in a row was to keep non-personnel expenses flat,” he said. “So, it is really important to emphasize that after six years in a row of doing that — in addition to cuts made last year due to COVID-19 — our budgets are extremely lean.”
The city has about $3.94 million in unfunded needs across all departments, he said. These range from adding positions, including police officers, IT staff, and economic development staff, to maintaining public amenities, such as basketball and tennis courts and athletic fields.
Other highlights include:
- A $500,000 decrease in debt service, as due to the cancellation of planned debt issuance during the current fiscal year and refunding prior bonds from 2013 and 2011 at lower interest rates.
- A $4.5 million transfer from the 10-acre land at the George Mason High School campus to capital reserves.
- Anticipated concessions from Founders Row for $1.8 million, which will also be placed in capital reserves.
In addition to flood mitigation, other public safety spending includes investments in sidewalks, paving — which Shields said has been underfunded since the Great Recession — and neighborhood traffic calming activities. State grants will pay for improvements to the Park Avenue “Great Streets” project, the Oak Street Bridge and the Washington and Columbia intersection.
The city will also receive funding through the Biden administration’s American Recovery Act.
“That congressional aid [is] needed and necessary, and we will use it very well for infrastructure and capital needs,” Shields said.
Community members will get a chance to learn about the budget and share their comments at a town hall from noon to 1:30 p.m. on Thursday (March 11). Budget meetings will be held on March 22 and April 12, and there will be a second town hall on April 15 before the city council is slated to adopt the budget on April 26.
Photo via City of Falls Church Government/Facebook, charts via City of Falls Church
Ever been to an open house on a Tuesday? Me neither… until last week.
My client and I walked into a single-family home in Reston priced in the golden $700,000s for (what I thought) was a private showing. The cul-de-sac was packed with cars, and I counted at least five other groups touring the home at the same time.
When I noticed the listing agent sitting at the kitchen table, I asked her if I had my time wrong. She replied, “No, we just had so much interest we decided to open it up today and tomorrow from 10 a.m. to 6 p.m.” She also informed me that six offers had already come in on this listing before it went on the market officially. By Wednesday evening, the house was under contract.
Is this a true depiction of today’s market? Not exactly, but in some areas and particularly with detached single-family homes, this is our new reality.
The average sales price is up more than $50,000 compared to last year. Despite interest rates starting to creep back up, this will continue to be a seller’s market for the foreseeable future. If you are looking to buy a home (especially a detached single-family home) be prepared to bid well above asking.
This month instead of highlighting active or coming soon listings, I want to share with you some homes sold in the past few weeks that went tens (or hundreds) of thousands of dollars over list price.
4508 45th Street NW, Washington, DC 20016
Sold $212,000 over list price
2502 Duxbury Place, Alexandria, VA 22308
Sold $86,189 over list price
10664 John Ayres Drive, Fairfax, VA 22032
Sold $81,000 over list price
10433 Heritage Landing Road, Burke, VA 22015
Sold $65,000 over list price
46492 Hollymead Place, Sterling, VA 20165
Sold $54,000 over list price
Even an hour-plus commute from D.C…
Can’t find your perfect home? Then it might be time to build it. Purposefully building your next home might be the remedy to today’s low inventory. Whether it is new construction, renovations or additions, you have options to consider. But there are pitfalls that require caution as well as fantastic benefits to keep in mind.
Want to explore some of the options available in Northern Virginia? Here are some active listings to check out with your hard hat on…
New Construction
Arden — New Toll Brothers development off Route 7, 1.3 miles from Tysons Corner and in the Langley Triangle. Priced from $2.207 million, new single-family homes on ¾- to 1+-acre home sites.
Walker Bend Estates — 950 Walker Road, Great Falls is a completed move-in ready $2.79 million GE Custom Home with 6 bedrooms, 8700+ square feet, and open Sundays 1-3 p.m. An adjoining homesite accessible by a private paved road is a 5 acre lot listed for $1.15 million — 954 Walker Road, Great Falls is ready to build with an approved well and 6-bedroom perc.
2000 Clarendon Boulevard, Arlington — 82 new construction condos located in the heart of Court House, 10-foot ceilings and views of D.C. Two units remain, including a 1 bedroom, 1 bathroom unit for $679,900.
The Townhomes at Reston Station — EYA’s newest neighborhood with easy access to the Wiehle-Reston East Metro station boasts new construction townhomes that start in the upper $700k and elevator townhomes like 1831 Wiehle Ave #THE BAKER MODEL, Reston that start in the upper $900k.
Renovations
425 N. Alfred Street, Alexandria is currently listed as Coming Soon for $1.095 million. This could be the perfect solution for buyers looking to choose the finishes but not direct the work themselves. You can help determine some details in the renovation of this 1880 detached Old Town rowhome with close to 2000 square feet, two parking spots, a spacious backyard and only a few blocks from King Street.
Laura Schwartz is a licensed Realtor in VA, D.C. and MD with McEnearney Associates in Vienna. You can follow Laura on Instagram at @LauraSchwartzRealtor or her Facebook page. Laura can be reached at 703-283-6120 or [email protected].
Based on my predictions for 2021, you now know that we’re in a fast-moving real estate market that’s very seller friendly. With low inventory, our marketplace is fast and furious with new properties that hit the market.
What you don’t see is the months of work that go into getting a seller ready to sell or a buyer ready to buy. In this market, if you’re not prepared, you’re immediately at a disadvantage. So to help you prepare if buying or selling a house is on your 2021 goals list, here are my top five things to do now:
1. Speak to a lender.
This is critical. Rates are really low — below 3% — but knowing how much you can afford is critical. Even more important: If you have a house to sell, you MUST know if you need to sell that house first before you can buy, or if you can buy without selling. Knowing the order those must happen in will drive your entire process. A good real estate agent will lay out options for both scenarios, based on your risk aversion, and come up with a plan on how to move forward.
2. Ask colleagues, friends, and neighbors for referrals for a real estate agent.
Talk to a real estate agent earlier than you think you need to. Some of my clients have been shocked by how little they really need to do to get a house ready to sell or what small items will make a bigger impact than they expect. Going room by room with a plan and prepping early will have big returns. Maybe you want to explore staging your home — find out how much that is. Information is power — power for you to make decisions that are right for you. Remember when picking a Realtor® you’ll be working closely with that person for months, so make sure you trust them!
3. Prep your home to sell using trusted contractors.
Changing lighting fixtures, painting some walls, deep cleaning, etc. Whatever your agent suggests (and you’re comfortable doing!) to prep your home, make sure you have trusted contractors to help get the projects done. You can always download my vendor guide for free.
4. Write a must-have versus nice-to-have list.
This is for the buyers, especially when there’s more than one buyer. Make sure you’re on the same page with what you’re looking for. I can’t tell you how many times I’ve seen people argue over a house. It’s TOTALLY NORMAL. It happens all the time. But that doesn’t make it better. House hunting is stressful, so anything you can do to minimize the additional stress is key!
5. Scout the areas.
Figuring out where you want to live is hard when you’re not familiar with the neighborhoods. Do you want Metro access? Do you want an HOA with a pool? Do you want land and no neighbors for miles? This goes hand-in-hand with the must-have list. Drive around. Ask your real estate agent for suggestions on where to start. If you have specific needs (e.g. one-mile radius of a Metro), those are very easy searches for us to run online for you. It gives you a place to start. Realtors are bound by fair housing rules, so we can’t always tell you if the neighborhood is family friendly etc. I recommend stopping to chat with neighbors out walking. They’ll be the best able to answer questions on the neighborhood.
BONUS: If you’re thinking of building, this is a bonus for you.
You MUST talk to a construction lender to understand the process, and you MUST start interviewing builders. Are you going with a design/build company, which is a one-stop shop? Are you going to hire an architect and then a builder? Do you know what lot size you need and elevation? All of that is SO critical in looking for lots. Often times lots don’t always hit the open market, so knowing which way you plan to go with a builder must be in place.
Vienna Police Move into New Temporary Home — With construction on a new station set to begin soon, the Vienna Police Department relocated to the former Faith Baptist Church at 301 Center Street on Jan. 7. Operations and responses haven’t been affected by the move, but the department is taking non-emergency calls at 703-255-6366. [Vienna Happenings]
Mosaic District to Add Dutch Snack Outlet — Poffy will serve traditional Dutch mini pancakes called poffertjes that are often prepared by street vendors. Owner Lilian Wanandy-Perez hopes to open the store in May or June, depending on the permitting process. [Northern Virginia Magazine]
Golf Training Center Opens in Tysons — “GOLFTEC Tysons Corner, a golf instruction and club fitting center, has opened in Tysons. Located at 1430 Spring Hill Road, Suite 102, McLean, the 2,500 -square-foot facility offers golf lessons for a variety of individual needs.” [Patch]
Tysons IT Company Receives Acquisition Proposal — DXC Technology confirmed on Jan. 7 that it received an unsolicited, preliminary and non-binding proposal from Atos SE to acquire all DXC shares. The company’s board of directors will be evaluating the proposal. [Business Wire]
Home Sales in McLean Were Up in 2020 — “Year over year, there has been marginal improvement in the number of home sales with a total count of 1,249 in 2020 compared to 1,219 in 2019. Compared to one decade ago in 2010, there is significantly better news as sales are up 39 percent over that time frame.” [Connection Newspapers]
Staff photo by Jay Westcott
Are you working from home? Or is it really living at work?
Fasten your seatbelts… or, should I say tighten those drawstring pants… we are in this for the long-haul, D.C. According to a recent study of more than 400 local employers, 45% of D.C. metro-area employers with 20-plus employees plan to shift some of their workforce to a permanent telework schedule.
The implications of such a major demographic shift will be felt well after the COVID-19 pandemic is behind us. How will the dramatic acceleration of telecommuting impact the way you live and work at home?
Here are six key questions we must ask about our current spaces:
1. Do you need more space?
The office you used to go to likely had conference space, break rooms and dedicated workstations. Does your home have that now, too?
Your current space may not have been designed for working and living. With home prices continuing to post gains (Northern Virginia’s average sales price in November 2020 was $675,290, up 7.7% from the November 2019 average price of $627,088), it might be the right time to sell and seek out more space.
7820 Frances Drive Alexandria, VA 22306 — $675,000 charming and expanded 5-bedroom Cape Cod sits on a generous 0.77-acre lot
2. Is open concept working for you?
Having dedicated office space does not mean perching up on the kitchen table and angling your Zoom camera to hide the family room behind you. While open concept has enhanced sight lines and brought families together, a post-COVID world ushers back the ‘closed-concept’ and single-use rooms.
1411 Key Blvd #311 Arlington, VA 22209 — $1,065,000 sun-filled 2-bedroom plus den in the heart of Rosslyn
3. Would the suburbs or a small town make sense now that you don’t have to go into an office?
Compared to last year, we have seen a 105% increase in demand for small towns (defined as populations ranging from 10,000 to 50,000 people). If going into the office is only required by your employer one to two days per month, what would be your tolerance for a one-hour commute?
38085 Homestead Farm Lane Middleburg, VA 20117 — $689,000 3-bedroom farmhouse buffered by woods and a creek
4. Is your internet up to speed?
Did you know your realtor can help you find a house with certain internet capabilities? The Bright MLS, only accessible by licensed agents, now has a new feature allowing us to search properties with broadband or fiber optics, ensuring the necessary work-from-home connectivity.
5. How is your outdoor space serving you?
Whether it is a pool, patio, deck or chaise lounge, these spaces can be key for stepping away from work or enhancing your Zoom backgrounds. Sometimes these views speak for themselves, pulling us to our next home…
612 Rivercrest Drive, Mclean, VA 22101 — $12.8 million 5-bedroom, 9-bathroom is a castle on the river and boasts 85 feet of water’s edge on the Potomac
6. Is it time to purchase a second home?
The third quarter of 2020 brought a 42% surge in luxury home sales. While some are looking for a larger home in the DMV, others may want to seek out a vacation home that provides a separate oasis. Whether it’s the Eastern Shore, Outer Banks, the Jersey Shore or Cape Cod, we can help you find your second home sanctuary.
4 Ministers Lane, Chatham, MA, 02650 — $5.95 million shingle-style waterfront with breathtaking Chatham Harbor and Atlantic Ocean views
Need a home office? Better view? Or perhaps a second home? Contact me today and let’s explore your options together.
Mackenzie Horne, MBA is a licensed REALTOR® in the Commonwealth of Virginia with McEnearney Associates in McLean. Send Mackenzie a message at 571-594-9136, [email protected] or @MackHorneRealtor.
Laura Schwartz is a licensed Realtor in VA, D.C. and MD with McEnearney Associates in Vienna. You can follow Laura on Instagram at @LauraSchwartzRealtor or her Facebook page. Laura can be reached at 703-283-6120 or [email protected].
As we wrap up the 2020 calendar year and a very strong real estate market, I want to share with you my predictions for how 2021 will go.
What makes me qualified to speak on the market? I’ve been selling real estate full-time since 2008, I have a master’s in applied economics from Hopkins, and I’m one of the top agents in the D.C. metro area according to every poll out there (Washingtonian, Northern Virginia Magazine, The Wall Street Journal America’s Top 100).
Here’s what I know to be true today:
The real estate market for detached homes has literally exploded all over the Northern Virginia area as people try to get more space. Fueled by low inventory and high demand, we naturally enter into a seller’s market, which favors competition, great contract terms and higher prices. In fact, in Fairfax County through Q3, the average house was only on the market for 23 days, which is down 16.5% from last year. The average sales price is up 10.9% from last year. Summary: higher prices, faster sales.
The same can’t be said about the condo market. The condo market is oversaturated with inventory, which is slowing sales and dropping prices. It’s a great time to buy a condo as an investor — except the rental market is also oversaturated and slow. My personal theory is that Covid is ever-present in a condo — wear a mask in the elevator, wear a mask in the hallway, wear a mask just to throw out your trash, etc. There’s nowhere to go and no way to escape it. Would-be buyers and/or renters moved home to mom and dad and took the opportunity to save money. I have no statistical proof of that — just my own theory.
Now how does that position us for a new presidential term, potential post-vaccine world as adults return to the workforce in person?
I expect the real estate market to continue to be strong. I expect sales to continue and inventory to still be low, but I’m hopeful the spring market will be very strong as maybe potential lost sales from 2020 who postponed, actually do sell their homes. I also expect prices to continue to climb.
Interest rates will remain low throughout the year. I had a client lock in a 2.5% interest rate last week. 2.5%! If you have a mortgage with anything over 3.25% right now, you should look into refinancing if you plan to stay for at least a year. With rates remaining low, buyer demand will continue to be strong. Don’t know who to call? Email me for lender referrals.
I expect condos to be slow for Q1 to Q2 in 2021, but I’m hopeful that once the virus is contained more, you’ll see sales start to pick up again.
I do think the demand for detached homes will continue to be the greatest, as it has been for years. But I also see there’s a potential for more work-from-home routines to be established as Covid changes behavior patterns, which changes a buyer’s needs, like the need for a dedicated home office space.
Do I think there will be foreclosures and short sales as a result of all the job loss? Not really. Perhaps in the price ranges under $400K, but even that market is strong, and those who are having trouble affording their homes can still sell at a profit and avoid the financial hit.
Still can’t find paper towels at your local Target? Me neither. The pandemic has caused many everyday items that we take for granted to literally fly off the shelves.
We saw it this summer with playsets and trampolines, but the craze for outdoor enjoyment extended beyond kids’ play equipment to the outdoor assets a residential property boasted, including pools and patios. What could possibly be the next must-have to make your stay-at-home experience more tolerable this winter?
Fire Pits
Those looking to continue using their outdoor spaces will need to seek out warmth in some form. As long as it is coming from the soothing crackle of a wood-burning fire pit or a gas-powered flame — not body heat less than 6 feet away — you will be in good company. These houses are ready for outdoor entertaining on any starry quarantine night:
2205 Windsor Road, Alexandria, VA 22307
1139 Crest Lane McLean, VA 22101
Spectacular Sunrooms
While it might be hard to find electric heaters or faux fireplaces this winter, now is the time to outfit your three-seasons sunroom in order to maximize its use. Take a look at these spectacular sunrooms that will bring some more light to your quarantine days:
929 Leigh Mill Road, Great Falls, VA 22066
1001 N. Vermont Street #904, Arlington, VA 22201
Access to Trails
Hiking in the winter is one of the DMV’s best kept secrets. The quiet and solitude is good any time of year, whether you are walking your dog or trying to tire out your kids in between virtual learning sessions. Check out this local home with easy access to local trails:
637 River Bend Road, Great Falls, VA 22066
Whether your must-haves include fire pits and sunrooms, or you would like a bigger kitchen and a home office, contact me today to explore your options.
Mackenzie Horne, MBA is a licensed REALTOR® in the Commonwealth of Virginia with McEnearney Associates in McLean. Send Mackenzie a message at 571-594-9136, [email protected] or @MackHorneRealtor.
Updated on 12/4/2020 — Five new luxury homes are about to hit the market in McLean.
Scheduled to go up for sale in mid-December, the houses belong to a new luxury neighborhood called Park Grove that is located along Inverness Park Lane near the intersection of Chain Bridge and Davidson Roads.
Park Grove occupies land that was previously owned by former U.S. National Park Service Director George Hartzog, who lived on the property for decades, according to Gulick Group, the Reston-based luxury home builder that constructed the new community.
The new neighborhood consists of eight custom houses and a centrally located private park space inspired by Hartzog’s efforts to expand the National Park System during the nine years when he served as director.
The park, which will be exclusively open to residents, will contain a sculpture designed by Washington, D.C., native artist Chris Tousimis.
“The history of the site inspired the theme for Park Grove,” Gulick Group Vice President of Sales and Marketing Jamie Gulick said. “The community is walkable, backs to a park, offers indoor-outdoor spaces, and we hope will encourage lifestyles connected to nature and broader McLean.”
Gulick Group held a soft opening for Park Grove this past spring, and three of the eight houses have already been purchased.
With price tags in the $2.2 million range, the houses feature open floor plans with tall windows that allow for natural light, up to five bedrooms with en-suite baths, high ceilings, and up to two offices. They can be custom-fitted with elevators and large sliding doors in the family rooms or upper-level terraces.
There are two different available floor plans.
The Parkline 60 model ranges from 5,640-6,400 square feet and costs approximately $2.26 million. It has a studio-style layout with a waterfall island that bridges the kitchen and living room as well as a sunlit breakfast room in the back.
The Parkline 80 model ranges from 5,600-7,270 square feet and costs around $2.33 million. It features a formal dining room and an optional three-car garage or second owner’s suite on the main level.
A furnished Parkline 80 model will be available to view by appointment in January 2021, Gulick Group says.
“We designed Park Grove to be distinctive and inviting,” Gulick said. “…Flatter rooflines with broad, downlit soffits create an urban streetscape, and the colors on the stone and siding evoke nature. Park Grove is exceptional in McLean.”
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.
- 2808 Schafflind Court, Vienna — $800,000
- 2700 Bowling Green Drive, Vienna — $700,000
- 906 Cottage Street SW, Vienna — $709,000
- 7632 Lisle Avenue, Falls Church — $1,625,000
- 6613 Midhill Place, Falls Church — $775,000
- 6801 Gouthier Road, Falls Church — $560,000
- 1611 Dunterry Place, McLean — $750,000
- 1721 Chesterbrook Vale Court, McLean — $1,299,000
- 1570 Spring Gate Drive #7208, McLean — $464,900
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, call 571-429-7670, or email at [email protected].
