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 real estate market is leaping into the new year with confidence. In the first week of the new year, 44 homes in the Tysons Corner region came on market either for the first time or after a holiday break.

As a matter of fact, the holidays did not stop the real estate market at all. In the month of December, 264 homes closed and 68 went under contract. This is within 1% of the closed homes in December of 2017 proving that in this area, there is always a market for sales.

The winter months can be a challenging time to buy or sell real estate with unpredictable weather, holiday celebrations and the focus on resolutions not real estate. It can also be a great time to move quickly and act strategically.

The spring market is well known for it’s bidding wars, abundance of open houses and buyers and sellers alike dipping their toes in the water to see how it feels. The winter market, in contrast, has buyers and sellers who are serious and ready to move.

For sellers, this means fewer people just checking out their home in case they decide to make a leap in the future and more people who are ready to write a contract. For buyers, there are fewer bidding wars and a better opportunity to buy a home without competition. Sellers who put their home on the market in winter are also more likely to be ready to sell, meaning they aren’t testing the market to see how high they can price. They price to sell! Fewer homes on the market mean less choice but a great opportunity to get a great home before the market heats up.

This week has quite a few great homes on the market at a great new price. Check out the homes recently reduced this week:

• 9222 Dellwood Drive Vienna (Reduced $50,000)
• 402 Spring Street S Falls Church (Reduced $30,000)
• 10150 Akhtamar Drive Great Falls (Reduced $40,000)
• 2722 Snowberry Court Vienna (Reduced $75,000)
• 105 Elmar Drive SE Vienna (Reduced $44,000)
• 11327 Corobon Lane Great Falls (Reduced $100,000)

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: What are the differences between buying a new house versus an existing home? Should you still have a realtor if you’ve already picked out the new construction? Do you need to be pre-approved for a loan if you are using the home builder’s partnered lender? Are there still closing costs?

Answer: The decision to buy a newly built or resale home is ultimately best made by each home buyer. There are a number of key differences you should be aware of when buying new construction that may help you decide what’s best. Here’s what to expect:

Builder Contracts

Most builders use their own contracts, not the normal Northern VA Association of Realtors (NVAR) contracts. As such, the language tends to favor the developer and it’s very important to read their contract a few times, understand what you’re agreeing to and don’t be afraid to ask questions or contest specific language you’re not comfortable with.

Higher Earnest Money Deposit (EMD)

2-3% EMD is appropriate, but most developers usually require additional security of 5-10% EMD which makes sense when they’re doing a custom build because they want you to be more invested in the finishes you’re choosing.

Negotiations

In a normal re-sale negotiation, each counter is delivered in writing with the signature(s) of the seller. Most developers will only make verbal/email counters, but the buyer is expected to put their (counter) offers in writing with signature(s). Once all terms are agreed to, the developer will finally sign.

Custom Design

Being able to select your own finishes and design a custom home is one of the most appealing reasons to buy new construction (note: not all projects allow for customization), but it’s a blessing and curse.

For some, going to a showroom to select appliances, flooring, cabinets and countertops is thrilling. However, builders are on a tight schedule and require selections to be made on time, so indecisive buyers can get overwhelmed by these choices and end up disliking the process. This is particularly true if there isn’t a model unit or it’s not modeled after your tastes.

Determining Value

In many cases, developers deliver a community that’s the first of its kind in the neighborhood. Without true comps, it’s much more difficult to gauge value and the chances of the developer significantly over or under pricing a project increases.

Given that uncertainty, some of the best deals can be had in new construction, especially at the beginning of the sales period. When there are fewer comps, you should negotiate more aggressively.

Brand New

Of course, buying new construction means you’re buying brand-new everything, with fully intact warranties. In addition to the manufacturer warranties on the systems (water heater, stove, etc.), most developers also guarantee their work for years to come. You also have the benefit of the latest codes to maximize your home’s energy efficiency.

Do You Need A Realtor? Read More

Every week the Eli Residential Group scours our network for off-market and pre-market homes to give home buyers and investors access to properties they can’t find anywhere else online. If you are interested in a property you see here or have specific needs you cannot find on the market, please reach out to us at [email protected] to talk to a real person, not an automated response system.

If you are a homeowner, investor, builder or agent who would like your off-market or pre-market property featured for a half million local readers on PoPville, ARLnow or Tysons Reporter, please email us at [email protected].

Tysons-Area Four-Bedroom Townhouse
Sawtooth Oak Court
Vienna, Virginia 22182

Description: Over 2,600 sq. ft. with 4 bedrooms, 3 full baths and 2 half baths, 2-car garage and fenced in backyard. Built in 2000 and located in a quiet HOA community. Walking distance to Dunn Loring Metro, downtown Tysons and multiple parks. Photos available upon request.
Price: Upper $800s

To view all of our off-market or pre-market properties, visit the off-market section of our website. We add new properties every week.

The Eli Residential Group is a real estate team with RLAH Real Estate, (703) 390-9460, operating in Virginia, Washington, D.C. and Maryland. Contact the team directly at [email protected].

Every week the Eli Residential Group scours our network for off-market and pre-market homes to give home buyers and investors access to properties they can’t find anywhere else online. If you are interested in a property you see here or have specific needs you cannot find on the market, please reach out to us at [email protected] to talk to a real person, not an automated response system.

If you are a homeowner, investor, builder or agent who would like your off-market or pre-market property featured for a half million local readers on PoPville, ARLnow or Tysons Reporter, please email us at [email protected].

Below is one of our favorite off-market properties from 2018.

Newer Townhouse in Mosaic District
2900 Block Penny Lane
Fairfax, VA 22031

Description: 4 BR/3.5 BA four-level 1,600 sq. ft. townhouse with beautiful finishes in Mosaic District. Built in 2014 and includes large rooftop deck, garage parking, open floor plan and ample guest parking. Situated on quiet street and surrounded by open space for tons of natural light. Available 2019.
Price: Upper $700’s

To view all of our off-market or pre-market properties, visit the off-market section of our website. We add new properties every week.

The Eli Residential Group is a real estate team with RLAH Real Estate, (703) 390-9460, operating in Virginia, Washington D.C., and Maryland. Contact the team directly 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!

On this Christmas Eve, I want to take just a quick moment to wish you a happy, safe and memorable holiday season.

I hope this season ends on a joyful note and continues into a positive and prosperous New Year for you and your family. Thank you for visiting this column and for submitting your questions. I am excited to be back in the New Year, bringing you more creative, informative and exciting posts!

Above are some of my favorite Christmas light displays. How did your neighborhood do?

I would love to see what other homes around Tysons did so feel free to send me photos of the best lights in your neighborhood to [email protected].

Merry Christmas and happy holidays to you all from the team at Eli Residential! Cheers to a cold season as you cozy up in the comfort of your warm home.

If you would like to discuss your Real Estate plans for 2019, or you’d like a question answered in my weekly column, please send an email 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, 2420 Wilson Blvd #101 Arlington, VA 22201, 703-390-9460.

Every week the Eli Residential Group scours our network for off-market and pre-market homes to give home buyers and investors access to properties they can’t find anywhere else online. If you are interested in a property you see here or have specific needs you cannot find on the market, please reach out to us at [email protected] to talk to a real person, not an automated response system.

If you are a homeowner, investor, builder or agent who would like your off-market or pre-market property featured for a half million local readers on PoPville, ARLnow or Tysons Reporter, please email us at [email protected].

Tysons-Area/Merrifield 1 BR Newer Condo
Halstead at the Metro: 2655 Prosperity Avenue
Fairfax, Virginia 22031

Description: 700+ sq. ft. 1 BR/1 BA condo in 2005 building with tons of amenities including outdoor pool, indoor basketball court, fitness center and daily on-site staff. Blocks to Dunn-Loring Metro, walkable to restaurants & bars and minutes to Mosaic District & Tysons. Low condo fees, one parking spot.
Price: Low $300s
Courtesy of RLAH Real Estate

To view all of our off-market or pre-market properties, visit the off-market section of our website. We add new properties every week.

The Eli Residential Group is a real estate team with RLAH Real Estate, (703) 390-9460, operating in Virginia, Washington, D.C. and Maryland. Contact the team directly 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: We just bought our first home a couple of weeks ago. How can we tough out our first winter as homeowners and avoid weather related problems?

Answer: Winter is coming and you’re not too late to get your home ready for it. Hopefully you had a home inspection before buying your house and all the systems are working properly or you’re aware of any issues that need attention.

Whether you’re a new homeowner or have been one for a while, there’s always something you can do to avoid home maintenance issues and save some money.

Exterior

• Clean up the remnants of fall and check for any signs of wear to the exterior of your home.
• Check your rain gutter downspouts. When gutters backup, they overflow and water runs down your home. Keep the gutters clean and make sure water is getting moved away from the home. Add downspout extenders if necessary.
• Make sure the soil around your foundation hasn’t settled, creating areas for water to pool at your foundation. If you find a low spot, simply fill it in with some soil. Saturated soil around a foundation can create a problem when it freezes and thaws throughout the winter months.
• Always disconnect garden hoses before winter arrives. Drain garden hoses or freezing water will split them open and you’ll have to replace them every year.
• Keeping your home’s pipes warm and insulated is key to avoiding the expensive mess of a frozen and burst pipe. Treat any existing water leaks and cover any exposed pipes with insulation. Winterize your outdoor faucets to prevent them from freezing, which can lead to a burst pipe and spray hundreds of gallons inside the house.

Interior

• A high-tech thermostat (Nest is ideal and it makes a great gift for homeowners!) can do wonders for managing your energy bills, but even a regular programmable thermostat can lower your bills significantly. While you might prefer your home to be a toasty 72 degrees, it costs money to keep the temperature that high throughout the day. So while you’re at work, set it to something like 65 degrees and push it back up when you get home. While the savings might not seem like much in one bill, you’ll definitely notice at the end of the season.
• Change your filters and have the system inspected by a reputable HVAC contractor.
• If you have a few rooms you rarely use, just close those vents and shut the doors so that you’re only heating the rooms you do use.
• Did you know if you replace your old water heater with a new Energy Star-qualified heater, you could save up to 50% on your heating bills? That huge savings can help your new water heater pay for itself. Hot water heaters typically are set at 140 degrees. Lower the temperature on yours to 120 for fuel savings. You’ll reduce the chance of accidental burns and the water still will be plenty hot for bathing, washing clothes and doing dishes.
• Set fan blades to move clockwise in winter, and run fans slowly. This will lift cool air to the ceiling and push heated air down where you can enjoy it. Now set the thermostat a bit lower and enjoy the warmth.
• By properly insulating your home and sealing up your basement and attic, you can save up to 10% on your annual energy bills.
• Look for air leaks. Things like winter-weather stripping and draft stoppers are easy to install and even easier to remove when warmer weather rolls around. Only use your kitchen and bathroom exhaust fans when you absolutely have to — they pull hot air out of your home and can represent a small increase in your heating bill.

Don’t Forget The Attic Read More

The following article excerpt is from our content sharing partner, FairfaxNews.com.

Amazon’s pick of Crystal City for part of its HQ2 expansion put a jolt of caffeine in November real estate activity, the Northern Virginia Association of Realtors reports.

“The pleasant surprise from November’s housing market data was a significant pop in new contracts,” said Derrick Swaak, managing broker of TTR Sotheby’s International Realty in McLean. “New under-contract sales jumped nearly 90 percent in the NVAR footprint, which means that a buyer’s offer has been accepted by the seller. Some of that increase was a reaction to an unexpected, but welcome, retreat of mortgage rates in the second half of the month, plus a frenzy of condo buying activity in the areas surrounding Amazon’s new HQ2 location in Crystal City.” […]

“While there is speculation about the real estate market showing signs of softening nationwide, our Northern Virginia data still reflects a promising direction,” said NVAR CEO Ryan Conrad.

Read more at FairfaxNews.com

Every week the Eli Residential Group scours our network for off-market and pre-market homes to give home buyers and investors access to properties they can’t find anywhere else online. If you are interested in a property you see here or have specific needs you cannot find on the market, please reach out to us at [email protected] to talk to a real person, not an automated response system.

If you are a homeowner, investor, builder or agent who would like your off-market or pre-market property featured for a half million local readers on PoPville, ARLnow or Tysons Reporter, please email us at [email protected].

Belle Haven Renovation with $5,000/Month Income
6000 Block Arkendale Road
Alexandria, Va 22307

Description: Unique investment or future owner-occupant opportunity in one of Alexandria’s top neighborhoods, Belle Haven. High-end gut renovation in 2017 with existing two-year lease for $5,000/month in place. Investors can collect great rent and sell in two years with excellent appreciation driven by Amazon HQ2. Owner-occupant can secure today’s pricing and pay down mortgage through remainder of lease. 4 BR/3 BA, open floor plan, massive 2+ car attached garage in this open floor plan home.
Price: $1,050,000
Courtesy of RLAH Real Estate

To view all of our off-market or pre-market properties, visit the off-market section of our website. We add new properties every week.

The Eli Residential Group is a real estate team with RLAH Real Estate, (703) 390-9460, operating in Virginia, Washington, D.C. and Maryland. Contact the team directly at [email protected].