End the summer strong with our Fitness Series at Carlyle Crossing on Saturday, September 9.
Get your blood pumping with a bootcamp-style BASH Boxing workout or wind down with an invigorating yoga sesh by YogaSix. Your instructor-led class is complete with snacks + drinks to keep your energy up + muscles hydrated.
Space is limited, so sign up before it’s too late!
Explore Alexandria living in this bi-weekly column sponsored and written by Sandy McMaster of McEnearney Associates. Got a question or comment? Contact Sandy at [email protected].
Warm hospitality, urban beach food, and the ONLY place you can order the freak’n Catalina wine mixer!
We were lucky enough to be joined by Corporate Chef Terri Cutrino, who supervises all three of Hank’s Washington, D.C., and Virginia spots. However, the Alexandria venue is the only location with a fantastic three-season rooftop bar. Enjoy the hustle and bustle of North Alexandria while dining on delicious and creative options. And if you want a burger? They’ve got you covered!
Nobody gets left out of this menu!
If you’re craving a little “sea-in-the-city,” drop into Hank’s Oyster Bar located at the corner of Montgomery and N. St. Asaph Street.
To get to know more about me and how I help people build lives they want in homes they love, follow me @SandyMcMaster on IG or visit www.
Just Listed highlights Alexandria City properties that came on the market within the past week. This feature is sponsored by the Jen Walker Team (Licensed in VA) of McEnearney Associates REALTORS®.
Welcome Back!
Jen Walker here with The Jen Walker Team! We are a real estate group based out of Alexandria, Virginia. I, along with my rock-star team members, Sue Kovalsky, Micki MacNaughton, Adrianna Vallario and Nancy Lacey, have more than 35 years of experience in real estate and sold over $150 million in 2022.
Gorgeous light-filled 2 bedroom, 2 bath row house located in the SE quadrant of Old Town, Alexandria. Built in 1941, this lovely Yates Gardens home features original hardwood floors in pristine condition.
The formal living room includes a wood-burning fireplace and large south-facing window with plantation shutters. The separate dining area and adjoining sunroom overlook the private brick-walled backyard. An updated galley kitchen offers stainless steel appliances, a gas range and charming bay window perfect for herbs and houseplants. On the upper level you will find 2 bedrooms with spacious closets, a full bath with a linen closet, and access to a floored attic offering plenty of additional storage space.
The finished lower level consists of a recreation room, the second full bath, laundry and additional storage. This home includes its own dedicated parking space, a rare and invaluable find in Old Town! Nestled on a quiet portion of Jefferson Street, you are just steps from the Mt. Vernon Trail, Jones Point Park, shops and restaurants on King Street and have easy access to National Airport, Metro, HQ2 and major commuter routes.
403 Jefferson Street, Alexandria 22314 — Listed by Lauren Bishop, McEnearney Associates
Click here for Just Listed properties in Alexandria and call The Jen Walker Team to schedule a home tour at 703-675-1566 or email [email protected].
- 1023 N Royal Street #305, Alexandria 22314 — $750,000
- 910 Powhatan Street #104S, Alexandria 22314 -0 $739,900
Happy House Hunting!
In our highly competitive Alexandria market, the Jen Walker Team has the insider knowledge to connect you with homes that are not even public yet. With more than 35 years of experience, the Jen Walker Team has the expertise to answer questions, calm fears, and streamline your transaction. Want to see other homes not featured in this article? Contact our team today!
Please note: While The Jen Walker Team provides this information for the community, they may not be the listing agents of these homes. Equal Housing Opportunity.
McEnearney Associates Realtors®, 109 S. Pitt Street, Alexandria, VA 22314 #WeAreAlexandria
This week’s Q&A column, sponsored and written by McEnearney Associates Realtors®, the leading real estate firm in Alexandria, is a bit of a departure from our usual format. To learn more about this article and relevant Alexandria market news, contact us at 703-549-9292. You may also submit your questions to McEnearney Associates via email for response in future columns.
Question: A reader recently asked us a question about the resale value for homes with solar panels. Did it help, hurt or have no impact at all?
Answer: We know solar panels are increasingly being added to properties to cut down on energy costs and reduce emissions from other heating sources, but does that translate into value for homeowners?
It wasn’t as easy a question to answer as we thought.
When we last addressed the topic of solar panels on our blog in 2020, it was a topic garnering a lot of discussion but not a lot of clarity about what impact it had in the housing market. And while there has been plenty of homeowner education about other popular green tech in properties — such as energy-efficient appliances, sustainable construction material, improved insulation — the insight on solar panels remains clouded as to what that means in actual dollars for home value.
Each year the National Association of Realtors® (NAR) releases a report on sustainability issues facing the real estate industry. The 2023 REALTORS® and Sustainability Report – Residential was released in May and showed that a majority (63%) of agents and brokers said promoting green technology in listings is “very” or “somewhat” important.
When it comes specifically to solar’s value to a home, 34% (a 2-point drop from 2022) said properties with solar panels increased the perceived property value, compared to 17% who said it decreased value and 29% that said they had no effect (19% said they didn’t know the impact on value).
Also, 38% of agents and brokers said that days on market were neither longer nor shorter for properties with solar panels and 37% believed the difference in time on the market due to the solar panels was unclear.
The green home features that Realtors® believed were most important to clients include windows, doors and siding (39%); proximity to frequently visited places (37%); a comfortable living space (37%); and a home’s utility bills and operating costs (25%). Solar panels don’t make the cut of top features cited.
However, of the top five (out of 12) sustainability issues facing their markets, four were questions about solar panels with most agents and brokers citing the need to understand how solar panels impact a transaction (35%), understanding lending options for energy upgrades or solar installations (33%) valuation of solar panels on homes (32%) and the lack of MLS data about home performance and/or solar installations (25%).
In short, there are still a lot of questions about how solar panels are impacting home values and for a feature that can cost anywhere from $16,000-$23,000 to install. So, we asked some of our McEnearney Associates to tell us about their experience with solar panels in the Virginia, Maryland and DC markets.
Christine Robinson works in Virginia and said consumer education will go a long way to having homeowners experiment with solar technology. When her clients finally found a home that fit their needs, it came with solar panels and also with a lien against the property for the solar panels. The buyers didn’t want to assume the loan for the panels so the sellers had to pay it off before closing. And the listing agent wasn’t knowledgeable about how the solar panels worked so it was up to the buyers to educate themselves about the pros & cons.
Several years ago, even Robinson’s client who is a LEED professional with a background in green technology found it difficult to get clarity on how to get solar installed with new construction, and even harder to get information about solar installations in existing homes.
“I feel strongly that consumers want this type of product but it’s more involved than just dropping panels onto the home,” Robinson adds, running through a list of considerations to keep in mind.
“What upgrades may I have to consider for my home installation? What are the rules in my state? How will it affect my insurance? What safety precautions regarding energy storage, battery back-up, fire suppression, and local utilities do I have to consider?”
Sometimes there are issues with solar panels that have nothing to do with energy supply. Jillian Keck Hogan works in all three jurisdictions and said most owners are indifferent as to whether the panels added value to their home, they installed them for personal reasons. However, the results aren’t always positive.
“We just listed a house for sale/rent in D.C. that had solar panels and during the listing process we discovered that the installation had caused damage to the roof and led to water damage during rain storms,” Hogan shared. “The company was good at coming out for repairs but it still doesn’t feel like it was contributing to the home in a positive way besides the advantage of a low electric bill and a potential positive environmental impact.”
And for some buyers, it’s simply a no-go. Bob Shaffer, an agent who works in D.C. and Maryland, has had buyer clients who were definitely “turned off” by solar panels (no pun intended!) “My clients do not take a liking to solar panels and avoid homes with them, even if there were other elements in a home that they liked,” he said.
Some other tips from agents:
- Pay for the upgrades on solar panel roof installation. Just like any home improvement project, there are upsells that will add extra costs but are worth it in the long run. For example, spring for the barriers that will prevent animals from nesting under or damaging solar connections.
- Be sure to check for tax incentives regarding solar or green technology, including those in your local jurisdiction
- Check out this recent segment on WAMU’s 1A radio program that discussed the Inflation Reduction Act and solar energy incentives.
If you would like a question answered in our weekly column or to set up an appointment with one of our Associates, please email: [email protected] or call 703-549-9292.
McEnearney Associates Realtors®, 109 S. Pitt Street, Alexandria, VA 22314. www.McEnearney.com Equal Housing Opportunity. #WeAreAlexandria
Explore Alexandria living in this bi-weekly column sponsored and written by Sandy McMaster of McEnearney Associates. Got a question or comment? Contact Sandy at [email protected].
A big part of building a life you love in Alexandria is finding the right home, but it’s also about having favorite faces and places. Just as your home is a place to relax and refuel, your favorite places are too. They’re like a haven.
The Haven is this week’s feature, and we couldn’t be happier to highlight this quintessential classic neighborhood gem.
The Haven is located in Belle Haven and used to be Pat’s Market (throwback for those of you who’ve been here as long as I have — lol!) The owners have done a magnificent renovation and turned the space into an inviting restaurant. Charming indoor and outdoor spaces provide ample space to enjoy tasty and terrific menu options.
As if The Haven wasn’t enough, you must step next door and visit The Custard Shack. It’s the perfect summertime treat and a sister shop to The Haven.
This terrific duo is one part Brady Bunch and one part Cheers. Warm, wholesome, and something for everyone!
Just don’t take my spot at the fire pit!
To get to know more about me and how I help people build lives they want in homes they love, follow me @SandyMcMaster on IG or visit www.
Just Listed highlights Alexandria City properties that came on the market within the past week. This feature is sponsored by the Jen Walker Team (Licensed in VA) of McEnearney Associates REALTORS®.
Welcome Back!
Jen Walker here with The Jen Walker Team! We are a real estate group based out of Alexandria, Virginia. I, along with my rock-star team members, Sue Kovalsky, Micki MacNaughton, Adrianna Vallario and Nancy Lacey, have more than 35 years of experience in real estate and sold over $150 million in 2022.
Light-filled two bedroom, two full bath condo in the heart of Old Town! Ideally located in revitalized North Old Town within walking distance to shopping, a variety of restaurants, the waterfront, GW Parkway, 910 Powhatan Street, 104S is the perfect place to call home!
Warm hardwood floors, vaulted ceilings, crown molding, and great natural light greet you as you walk into the spacious living room. The open layout provides plenty of room for a dining area and flows into a lovely galley kitchen featuring shaker style cabinetry with ample storage space and stainless appliances. The spacious primary bedroom offers a walk-in closet with shelving system, and a en suite bathroom with a soaking tub and a beautifully tiled glass shower. The second bedroom also offers plenty of closet/storage space. A second full bath rounds out this space.
The welcoming patio overlooks a quiet, manicured courtyard and is a perfect space for sipping your morning coffee! This building has the gym and roof top deck for community use! Also an additional storage space. Eat at home or dine out in all the restaurants within a few steps of this amazing location.
This move-in ready, freshly painted, home is just steps to Hank’s Oyster Bar, Sisters Thai, Wooboi Hot Chicken, St. Elmo’s coffee shop, Harris Teeter and much more. You are also a short walk away from the Potomac River, bike trails, and just 9 short blocks to all bars and restaurants of King Street. E
njoy Old Town living at its best! Welcome Home!
910 Powhatan Street #104S, Alexandria 22314 — The Jen Walker Team
Happy House Hunting!
In our highly competitive Alexandria market, the Jen Walker Team has the insider knowledge to connect you with homes that are not even public yet. With more than 35 years of experience, the Jen Walker Team has the expertise to answer questions, calm fears, and streamline your transaction. Want to see other homes not featured in this article? Contact our team today!
Please note: While The Jen Walker Team provides this information for the community, they may not be the listing agents of these homes. Equal Housing Opportunity.
McEnearney Associates Realtors®, 109 S. Pitt Street, Alexandria, VA 22314 #WeAreAlexandria
Don’t miss out on the region’s favorite social Bike Ride.
DC Bike Ride is back Saturday, September 9 closing 20 miles of roads for you to enjoy the most epic views, live music, and famous landmarks along the way.
Join now and get a $20 discount on your standard registration with code BIKEDC at register.bikeridetickets.com.
DC Bike Ride — September 9
This week’s Q&A column is written by David Howell, Executive Vice President and Chief Information Officer, of McEnearney Associates Realtors®, the leading real estate firm in Alexandria. To learn more about this article and relevant market news, contact David at 703-855-5089 or email [email protected]. You may also submit your questions to McEnearney Associates via email for response in future columns.
Question: Where can I find reliable information on local real estate market activity?
Answer: Every month on our website we profile the most important market indicators — contract activity, interest rates, inventory, affordability, and the direction of the market — in an easy to read and digest summary followed by supporting charts and data. Then each quarter we take a look at submarkets in Northern Virginia and last month in this column we shared information on contract activity for the first half of the year in the City of Alexandria and South Alexandria.
This week, we are presenting our latest Market-in-a-Minute summary for Northern Virginia. Read the full StatPak report here.
Contracts
Contract activity in July 2023 was down 10.4% from July 2022 and was down for four price categories. Through the first seven months of the year, contract activity is down 23.2%. The average number of days on the market for homes receiving contracts was 21 days in July 2022, down slightly from 22 days last July.
Urgency Index
The Urgency Index, simply the percentage of homes going under contract that were on the market 30 days or less, was up in July compared to last July. During the past 19 years, the Index has been as high as 94.4% (April 2004) and as low as 22.9% (November 2006). In July 2023, the Urgency Index was 83.7%, up from 76.3% in July 2022.
Inventory
The number of homes on the market at the end of July (1,340) was down 46.1% compared to the end of July 2022 and was down for five out of six price categories. The number of new listings coming on the market decreased 26.7% compared to July 2022. The decrease in contract activity was offset by a bigger decrease in inventory, lowering overall supply to 0.9 months from 1.5 months the end of July 2022. To provide some context, during the “Great Recession” in July 2008, supply was 4.2 months, the average days on market was 85, and there were 8,600 homes on the market.
Interest Rates
30-year fixed mortgage interest rates at the end of July stood at 6.90%. Rates have remained frustratingly high this summer, but the Mortgage Bankers Association is forecasting rates to dip below 6% by the end of the year, and below 5% by the end of 2024. We hope they’re right.
Affordability
The payment on a no-money-down, 30-year fixed mortgage for a median-priced home is 85% higher than it was a decade ago in July 2013, and the median price is up 41%. The payment is also 26% higher than last July because of higher interest rates and higher prices. The mortgage payment for a median priced home ($4,544) was much higher in July than the median rented price ($2,950).
Direction Of The Market
In July 2021 there were 2,300 new contracts and 30-year mortgage interest rates were 2.8%; last July there were roughly 1,700 contracts and rates were 5.3%. Just last month there were only 1,500 contracts and mortgage rates were almost 7%. The Northern Virginia real estate market has seen a steady decline in contract activity over the last two years as interest rates have risen, yet it is a tighter sellers’ market now than during those heady days with sub-3% mortgage rates. And it’s simply because the number of homes on the market has contracted even more than buyer activity.
There were almost 3,000 homes for sale at the end of July 2021, and that has dropped to a little over 1,300 now. With overall supply at less than a month, and the supply of homes priced less than $750,000 at just over two weeks, buyers just don’t have a lot of choices. That is keeping modest upward pressure on home prices and presents an incredible opportunity for homeowners who are in a position to sell.
As we have noted before, we expect this deficit of listings to continue until mortgage rates drop below 5.5% — or perhaps even lower.
Note: Data derived from BrightMLS and is deemed reliable, but not guaranteed. “Northern Virginia” is defined as Arlington and Fairfax counties and the cities of Alexandria, Falls Church and Fairfax.
If you would like a question answered in our weekly column or to set up an appointment with one of our Associates, please email: [email protected] or call 703-549-9292.
McEnearney Associates Realtors®, 109 S. Pitt Street, Alexandria, VA 22314. www.McEnearney.com Equal Housing Opportunity. #WeAreAlexandria
Are you a lover of live music?
Join DC Fray and Carlyle Crossing for our free Happy Hour Concert Series, happening bi-weekly on Thursday nights in August and September.
Grab your concert buddies and stop by to enjoy some hot tunes from the local performers, plus cold drinks from the pop-up bar on the following dates.
Lineup:
- August 17: La Unica
- August 31: Jarreau Williams
- September 14: Trackside
- September 28: Todd Brooks and Pour Decisions
Fall into fun with DC Fray and register for an upcoming league offered at various locations, days and times before spots fill up 🎾.
We’re offering volleyball right in Alexandria as well as kickball, pickleball, basketball, softball, tennis, flag football, bocce AND much more across Northern Virginia and in D.C.
Take a swing at something new or slide into an old favorite pastime. Join as an individual, group of friends, or as a full team. Secure your spot as leagues fill up fast!
