At least according to one real estate broker, realtors looking to expand outside Tysons, Reston or Arlington County should be looking into commercial redevelopment in Vienna.

In an article published by the Northern Virginia Association of Realtors, Frank Dillow, a senior commercial broker in Long & Foster’s Commercial Division, pointed to 2014’s approval of Maple Avenue Commercial (MAC) zoning as a step towards flexible zoning to attract new developments.

“Vienna’s interest in rethinking its downtown comes as suburban communities throughout Northern Virginia react to residents and developers seeking to transform existing retail outlets into more modern lifestyle community centers featuring restaurants and entertainment,” Dillow said.

The approval of MAC zoning regulations are part of an effort by the Town of Vienna to combat rampant vacancies throughout the town. The new regulations allow buildings up to four stories tall and greater density than usual to be considered for Maple Avenue, a primary thoroughfare in Vienna.

But the MAC zoning has also come under fire, from the public and members of the Town Council, for what is seen as too quickly and too radically altering the character of downtown Vienna. Controversy over MAC zoning led to a moratorium on new proposed developments until a review process for the ordinance can be completed. That review is currently ongoing.

But Dillow said in his article that local residents are increasingly understanding the necessity of added density.

“Increasingly, people understand that to achieve their community goals and create a vibrant place to live, the community needs different types of development — different types of density,” Dillow said. “As Northern Virginia continues its rapid commercial transformation, realtors should be looking beyond the current well-publicized developments in Tysons, Reston or Arlington County, to expanded opportunities in the commercial redevelopment occurring in older, more established communities such as Vienna.”

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.

If you are searching for a home right now or know someone who is, you know how difficult this market is.

Homes are going under contract quickly and often with multiple offers. I’ve heard of as many as 30 offers on a single home. Inventory is very low and demand does not seem to be waning. I am advising all my buyers to be ready to see a home the day it goes on market or, if possible, before it goes on market.

Unfortunately, if you wait to view homes on the weekend, the homes you are interested in will probably be under contract. A well-priced home will sell quickly in this market so this week’s reduced listings largely give us a peek into how the other half lives.

There are fewer buyers in the higher price ranges so these homes tend to take longer to sell. This week, there are a lot of motivated sellers for some very luxurious listings with some very drastic price cuts.

In Vienna, 8518 Wedderburn Station Drive features a breathtaking backyard that must be seen. Spend your summer lounging by the pool during the day and sitting in the hot tub at night. This 6 bedroom, 5.5 bath home is meant for relaxing. The basement even has a sauna and wine cellar!

The home was originally listed for $2,600,000. This week, the home was reduced to $2,100,000. The home was built in 2013 but new builds of this size and quality sell for significantly higher prices.

In McLean, 906 Turkey Run Road has the most dramatic price cut of all of our featured listings. This home was just reduced by $1,400,000. It was originally listed for $11,400,000 and now is being sold for $9,500,000. This custom built Mediterranean home has its own gym, theater and state-of-the-art wine cellar.

The backyard is as magnificent as the home featuring a pool with jets and a fire pit. Turkey Run Road is a prestigious neighborhood in McLean and features some of the community’s most lavish homes.

Check out all of this week’s Luxury for Less listings:

• 8518 Wedderburn Station Drive Vienna (Reduced $129,000)
• 1707 James Payne Circle McLean (Reduced $34,000)
• 828 Springvale Rd Great Falls (Reduced $24,000)
• 11325 Fox Creek Farm Way Great Falls (Reduced $100,000)
• 11324 Fox Creek Farm Way Great Falls (Reduced $200,000)
• 906 Turkey Run Road McLean (Reduced $1,400,000)

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 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: Can you tell me about some of the walkable neighborhoods you suggest living in around Tysons?

Answer: Falls Church City is a charming community with a Downtown vibe. It’s a roughly 2-square-mile city with so much to offer. It is a walkable, bike friendly, vibrant downtown so that people don’t have to leave their community to get services, goods and entertainment.

Top Reasons that Make Falls Church City an Awesome Neighborhood:

Great Location

Metro — The West Falls Church station and the East Falls Church station, both on the Orange Line, are about two miles and one mile away, respectively.

It’s located just a few minutes from I-66, 495, Dulles Access Toll Road and just 4 miles from Tysons.

For joggers and bikers, the W&OD Trail runs east/west through the northern part of the city with intersections at North Washington Street, Little Falls Street, Great Falls Street, North Oak Street, North Spring Street, North West Street, Grove Avenue and West Broad Street.

Many Things To Do Within The City Limits.

The area has many parks with climbing equipment, playgrounds, a public library and a Saturday morning farmers market. During holidays, the city sponsors events like a July 4th parade that runs along Broad Street, the area’s main street.

There’s also a range of ethnic restaurants. My favorite are Plaka Grill (Great Greek food. Try their beef souvlaki!), Northside Social (everything from great coffee and avocado toast, to amazing pizza and wine)and Lucky Thai. Plus a number of bars like Ireland’s Four Provinces, Mad Fox Brewing Company and Clare and Don’s Beach Shack (they have trivia on Wednesdays). There’s also the State Theater with great shows every week.

Many Housing Options

There are different options from detached homes, townhomes and condos. In Falls Church City, there are currently 22 properties for sale, ranging from a one bedroom condo for $397,000, to a $1.45M 6 bedroom home built in 2006. You can see all active listings here.

Twenty properties are currently under contract, ranging from a one bedroom condo condo at $385,000 to a 5 bedroom Craftman house at $1.6 million.

In the past 6 months, 15 condos were sold for a median price of $399,000, 10 townhouses were sold for a median price of $626,000, and 54 single family homes sold for a median price of $925,000.

One of my favorite buildings in Falls Church City is Spectrum, a Condominium built in 2008. It’s located in 444 W Broad Street and it features a “green” rooftop. The roof provides a great view and it is covered with sedum plants that provide a multitude of benefits including thermal insulation for reduced energy consumption, filtering storm water and increased sound insulation for residents. 

Great Quality Of Life.

This small city Ranked as No. 1 Healthiest Community in U.S. in 2018. Need I say more?

Changes on the Horizon

While the area has a timeless quality to it, things will change a bit in the next few years. Founder’s Row is a mixed use project located at the corner of W. Broad and N. West Streets.

It will include a 6-8 screen dine-in movie theater with 850 seats, 5,000 square feet of office and 60,000 square feet of retail-restaurant space and 72 senior and 322 market rate apartments. I’ll tour it for you as soon as possible!

If you’d like more information, or would like a question answered in my weekly column, please reach out to [email protected]. I hope to hear from you soon.

Val Sotillo is a licensed Realtor in Virginia, Washington DC, and Maryland with Real Living At Home, 2420 Wilson Blvd #101 Arlington, VA 22201, 703-390-9460.

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.

There is no denying that Vienna has changed a lot in recent years.

Where small ramblers once stood, there are now large custom built homes throughout the town. The Maple Ave Commercial (MAC) planning is controversial and there are plenty of neighborhood debates on how Vienna should proceed with development.

Keep Vienna Small has become a rallying cry as popular as Keep Portland Weird and everyone is passionate about their personal view on how Vienna should or should not change. The Capital One Headquarters, The Boro, and other development is bringing jobs, shopping and more congestion to the area.

Vienna is popular because despite being just 16 miles from Washington, D.C. and just outside of Tysons Corner, the town feels small and friendly. Everyone seems to know your name in Vienna and neighbors often meet on the trails to chat, walk the dogs, or stroll to their favorite restaurant for a drink.

New development and passion for this great, small town have driven prices to a peak and homes are now selling for as much as $2.5M in the town limits. These high prices also come with large spaces.

If you are priced out of the custom build market or feel that 6,000 sq. ft. is just too large for you or too much upkeep, living in Vienna may seem impossible. Cadence on Center is a new townhome development in the center of the town. This development features luxury homes without the big detached home prices or the required upkeep. Center Street is in the heart of Vienna and walkable to Church Street, the community center and the popular trails.

Buying a luxury townhome is a great way to enjoy the amenities of Vienna and live in a new, customized home without breaking the bank. There are only 5 homes left in this community. If you are interested in viewing these beautiful, luxury townhomes, call or email me for an appointment.

Below are the current listings for Cadence on Center:

• 147 Center Street S., Vienna
• 145 Center Street S., Vienna
• 149 Center Street S., Vienna

If you are looking for deals on other homes in the Tysons area, here are this week’s luxury for less properties:

• 10431 New Ascot Drive Great Falls (Reduced $100,000)
• 7112 Benjamin Street McLean (Reduced $155,000)
• 3301 Slade Run Drive Falls Church (Reduced $47,600)

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.

Fairfax County is planning to include McLean in a new targeted economic revitalization plan.

The proposed Economic Revitalization and Redevelopment Zones (ERRZs) would allow developers a 5-10 percent fee reduction for site plan reviews and a partial real estate tax abatement for properties consistent with the county’s Comprehensive Plan. A staff report noted that developments approved through the ERRZ pipeline could also see expedited processing.

The plan is the result of legislation passed by the Virginia General Assembly in 2017 that allowed regulatory flexibility and financial incentives to encourage private sector growth.

“An inter-departmental team developed and vetted with industry a proposal for a program in Fairfax County to provide an economic development opportunity to the private sector consistent with the legislation,” Fairfax County staff said in the report.

In order to qualify for the program, developments would need to have two parcels that collectively comprise at least two acres in size. Smaller acreages could be considered with Board of Supervisors review.

The ERRZs would be located in the Commercial Revitalization Districts first established in 2004.

In addition to McLean, new ERRZs would be established in:

• Annandale
• Baileys Crossroads
• Springfield
• Lake Anne Village Center
• Richmond Highway Business Centers
• The Huntington Transit Station Area
• The Lincolnia Community Business Center
• Franconia-Springfield Transit Station Area

At tomorrow’s (Tuesday) Board of Supervisors meeting, the scheduling of a public hearing for the ERRZ ordinance is included in the items scheduled for administrative approval. If approved, a public hearing would be scheduled for April 9. If adopted, the changes would take effect on Jan. 1, 2020 and would last until Dec. 31, 2029.

Photo via Fairfax County

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.

As a realtor at TTR Sotheby’s International Realty, I see plenty of beautiful and luxurious homes.

The D.C. Metro area real estate market may not be New York City or Los Angeles but we certainly have our fair share of beautiful homes and swanky addresses. TTR Sotheby’s private exclusive listings currently include a breathtaking home with unparalleled views of the Potomac in McLean priced at $62,950,000 and a stunning estate in Georgetown for $18,750,000.

I am often at awe with the beautiful architecture, interior design and stately elegance of these homes. McLean is well known for its large homes, prestigious addresses and powerful, wealthy residents. One of the swankiest neighborhoods in McLean is Ballantrae Farms.

Ballantrae Farms features prominent homes with even more prominent owners. If you are seeking a home where you can rub elbows with the elite; CEOs, politicians, leaders of industry, Ballantrae Farms is the prestigious address you are looking for.

1285 Ballantrae Farm Drive McLean is currently on the market for $2,700,000. This custom built home features approximately 7,720 finished sq. ft. and over 10,000 total sq.ft. This home features elegant details and large spaces for entertaining. The home was built by international builder and developer John Georgelas as his own personal home. Relax at the outdoor courtyard pool or entertain at the large wet bar. The home needs some modern touches but in Ballantrae Farms, under $3M, the possibilities are endless.

Here is the listing for 1285 Ballantrae Farm Drive:

1285 Ballantrae Farm Drive McLean

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 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: I’ve submitted two offers on homes in the past couple of weeks and both times lost to multiple offers. Is the inventory going to increase? What can I expect as spring is approaching?

Answer: Periods of low inventory and high demand, like what we’re currently experiencing, can be frustrating for buyers. If you’ve been looking for homes and are concerned about the lack of options you’ve seen in the market, do not give up because the inventory is already increasing and will continue to increase over the next few months.

What To Expect From The Spring Market

The spring market can be a great time for buyers because you’ll see a significant increase in inventory and a better chance of finding that perfect home.

You will also see a very similar increase in the amount of properties going under contract, which is an indicator of the not-so-good news (for buyers) that there will be a lot more competition. Be ready to make your best offer.

See the chart below for a month to month breakdown on New Listings in Fairfax County since 2014. This chart highlights how the lack of new inventory you’ve seen over the winter is going to increase significantly starting this month and will almost triple over the next few months.

See the chart below for New Pending Contracts (properties going under contract) in Fairfax County since 2014. Contract activity is seasonal, just like new inventory.

What Can You Do To Get Ready For This Market?

Spring can be a frustrating season because you may watch your dream home go to other buyers who have made smarter, but not necessarily higher offers. So be prepared to make a strong offer with these tips:

• Financing — Have a pre-approval letter from a reputable local lender who has reviewed all relevant documents and is able to close quickly. A strong lender letter gives the seller confidence you will close on the home on time, without complications.
• Don’t Play Games — We all want to negotiate a great deal, but when a seller has multiple similar offers, they often put more weight in who they think is most likely to close with the least complications. In that scenario it pays off to make it clear how much you want the home instead of acting like you could take it or leave in an attempt to negotiate a lower price. This is not a hagglers market so don’t expect a lot of negotiations.
• Contingencies — Understand how an Escalation Addendum works and consider giving up your right to negotiate repairs using a Pass/Fail contingency or doing a pre-inspection instead to make sure there are no major issues with the property. You can also offer to cover up to a certain dollar amount in the event of a low appraisal, if you are offering to pay above the asking price.

Good luck on your house hunting! If you’d like more information, or would like a question answered in my weekly column, please reach out to [email protected]. I hope to hear from you soon.

Val Sotillo is a licensed Realtor in Virginia, Washington DC, and Maryland with Real Living At Home, 2420 Wilson Blvd #101 Arlington, VA 22201, 703-390-9460.

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.

Unless you have gone off the grid, you’ve probably heard a lot of talk about Amazon HQ2.

The D.C. Metro area has been bracing for the impact of HQ2 and investors have been buying real estate near the National Landing site for months. In case you aren’t already sick of hearing about HQ2, this week brought us more to talk about. Amazon nixed plans to open their HQ2 site in New York.

This presented an opportunity for Prince George’s County. Prince George’s County officials reached out to Amazon to pitch their location again. Amazon has officially said they do not plan to search for a new location but that won’t stop the speculation in the D.C. Metro area. Google also has the area talking with the announcement that the company plans to double the size of their workforce in Northern Virginia.

Scotts Run in Tysons Corner had courted Apple and is still looking for a tenant but what is clear is that tech giants are viewing the D.C. Metro area as an attractive location to find talent and make a home. This is great news for residents who like living in the area but want new and diverse job opportunities.

What does that mean for our real estate market though? Real estate in the D.C. Metro area is already among some of the most expensive in the country. Last year, Metropolitan Washington Council of Governments (COG) released a report detailing the D.C. Metro area housing shortage. According to COG, the area needs 115,000 additional homes above current projections by 2045, or about 25,600 total new units per year.

Affordability is a growing problem and it doesn’t look to be going away any time soon. It’s not all bad news though. This area already experiences many moves each year, both from people moving to the area and people moving out. We experience this every year without the fanfare that came with the Amazon announcement.

It’s also important to remember those 25,000 jobs will not necessarily bring that many people, some of those new hires already live here. They also won’t all be hired or transferred here at one time. The same can be said for Google and other companies relocating to the area or expanding their workforce.

It remains to be seen if our housing market will reach San Francisco crisis levels. For now, check out the properties on the market that you can get a deal on.

Here are this week’s luxury for less properties:

• 10127 Nedra Drive Great Falls (Reduced $10,000) 
• 1450 Emerson Avenue #314 McLean (Reduced $100,000) 
• 833 Golden Arrow Street Great Falls (Reduced $50,900) 
• 2012 Wolftrap Oaks Court Vienna (Reduced $19,900)

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.

Tysons Company Tops Fortune List — Tysons-based Hilton is No. 1 on Fortune’s new 100 Best Companies to Work For list. The hotel operator was also joined by local companies Navy Federal (#29, Vienna), Capital One (#39, Tysons), CustomInk (#86, Merrifield) and Mars Inc. (#98, McLean) on the annual list. [Fortune, Twitter]

State of McLean: Under Construction — “McLean is poised to benefit from a raft of infrastructure and revitalization projects, Supervisor John Foust (D-Dranesville) told the Greater McLean Chamber of Commerce Feb. 14 [during] his annual ‘State of McLean’ speech.” [InsideNova]

Falls Church Property Assessments Rise — “Property values are on the rise in Falls Church, according to 2019 assessment data released by the city. Overall residential and commercial property values have increased from January 2018. Commercial property values rose by 4.3 percent and residential real estate values by 2.93 percent over the last year.” [Patch]

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.

Vienna is a popular place to live in the D.C. Metro area.

People love the small-town charm, the proximity to Tysons Corner and the trails that wind through our enchanting town. When the weather is nice, we all meet outdoors to enjoy a run, take a leisurely stroll to the Whole Foods, or walk our dogs. It’s a pretty idyllic life in the D.C. Metro area and no one who lives here is surprised that we consistently top lists of best places to live in the U.S.

The only problem, this town is becoming more and more expensive. Real estate prices are quite diverse in Vienna. The town is divided into 4 quadrants with each quadrant selling homes at different prices. Currently, the hot market in Vienna seems to be in Southeast.

Southeast is very desirable for its proximity to Tysons, great schools and walkability to Westwood Country Club. Living on Mashie or Niblick Drive has suddenly become very elite, in part thanks to the very large, high-end homes recently built on those two streets. In addition to paying top dollar to get in to Southeast Vienna, the town taxes can break the budget.

Recent sales in southeast include a $1,030,000 condo on Glyndon and $2,350,000 detached home on Niblick. Top that off with an additional real estate tax for living in the Town of Vienna of 22.5 cents per $100 of the property’s assessed value. It’s steep to live in this neighborhood.

What if you want to live in Vienna without the extra taxes or the price tag over $2M? Just east of the town and mere steps from this hot neighborhood are many great homes that sell for less and lack the extra taxes. This neighborhood is just west of Old Courthouse Road and east of Electric Avenue.

Most of the homes were built 10 years ago or more but have a lot of space and similar access to the trails, Tysons and the shops on Maple Avenue. In contrast to Southeast, the most expensive home sold in this neighborhood in the past six months was a detached home with over 7500 sq. ft. that sold for $1,695,000. Still too much? Most of the homes in this neighborhood sold for around $1M with many below that amount. Vienna addresses without the steep Vienna prices.

This week we have quite a few great homes featured and one just outside the town limits in Vienna to consider!

• 1838 Toyon Way Vienna (Reduced $30,000)
• 622 Tapawingo Road SW (Reduced $19,500)
• 7108 Penguin Place Falls Church (Reduced $260,000)
• 8601 Tebbs Lane McLean (Reduced $25,000)
• 901 Falls Bridge Lane Great Falls (Reduced $71,000)

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.