Alexandria, VA

Virginia Tech Launches Online MBA

Virginia Tech is launching its newest MBA program option, the Online MBA, in response to the changing needs of students and the workplace in the wake of the COVID-19 pandemic.

“The new format allowed us to combine some of the tried and true features of our established in-person MBA formats and online master of information technology to craft the best possible educational experience for students who value consistent interaction with their classmates and also want the flexibility of an online program,” said Parviz Ghandforoush, associate dean for graduate programs.

“We’ve sought to include the best aspects of our top-ranked Evening MBA, experiential-focused Executive MBA and hybrid Professional MBA, both in curriculum development and online delivery,” said Dana Hansson, director of MBA programs. “We’ve integrated feedback from students in all formats to determine how we can offer the best educational experience online.”

It’s this feedback that informed some of the unique features of the 22-month Online MBA that distinguish it from other online MBA offerings in the marketplace.

While fully online, delivery of the new program will be evenly split between synchronous and asynchronous experiences. “While students appreciate the flexibility of asynchronous learning, many shared with us that meeting synchronously best mirrors an on-campus experience. It allows students to participate actively in class discussions and study teams, develop working relationships with their peers and engage with Virginia Tech’s top-notch faculty,” Hansson said.

The program is cohort-based, which means that students complete their studies in lockstep and have the opportunity to build meaningful professional relationships with their classmates.

Students can choose to specialize their MBA in areas where Virginia Tech has significant expertise, such as cybersecurity, entrepreneurism, health information technology and business data analytics. The program also includes an option to study abroad through the international business specialization.

Online MBA students will also share the support and resources available to all Virginia Tech MBA students. Hansson said this includes access to an established MBA alumni mentoring program, personalized academic advising and membership in Virginia Tech’s vast alumni network.

“We’re excited to provide this new opportunity to professionals across the globe who want to further their careers and join our talented group of students and alumni who are proud to call themselves Hokies.”

Applications for the inaugural cohort are due May 1, with classes starting in July and graduation expected in May 2023.

Learn more at mba.vt.edu/online.

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Just Listed in Alexandria

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. I, along with my two rock-star team members, Sue Kovalsky and Micki MacNaughton, have more than 35 years of experience in real estate and sold over $103 million in 2019.

Join us this Sunday, Feb. 7, at 2-4 p.m. in person for an Open House featuring this soon-to-be Just Listed townhome in Stonegate. Fabulously updated and ready for move-in! From the shutters and windows to the updated kitchen and beautiful paint — you don’t want to miss this gorgeous townhouse in the heart of Alexandria.

Park in the rear of the home in the large two-car garage. The entry-level features a laundry room, closet and half bathroom. Head upstairs, where the living room’s soaring ceilings greet you. This spacious and light-filled room features recessed lighting, beautiful high ceilings, gorgeous windows and a gas fireplace. Great for entertaining, a dining room is found just off the living room. Head to the kitchen where crisp cabinetry, updated counters and stainless appliances await — truly a chef’s dream!

Upstairs you will find two bedrooms and a full bath. And finally, on the top floor, you will find a true retreat. With vaulted ceilings, a double vanity, a walk-in closet and a large bedroom area, you will love relaxing in this space. Located close to the pool, you will love living in Stonegate. A commuter’s dream located just minutes to D.C., Old Town, Amazon HQ2, Reagan National Airport, the Pentagon and more. Welcome home!

4657 Lambert Drive, Alexandria, VA 22311The Jen Walker Team

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].

In this midst of COVID-19, we will not be hosting any in-person open houses. We will, however, be going live on our Instagram every weekend for our virtual tours. Stay updated with our virtual tours by following us on our Instagram page for updates.

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

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®.

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This week’s Q&A column is written by Sallie Seiy of McEnearney Associates Realtors®, the leading real estate firm in Alexandria. To learn more about this article and relevant Alexandria market news, contact Sallie at 703-798-4666 or email [email protected]. You may also submit your questions to McEnearney Associates via email for response in future columns.

Question: What does a millennial buyer look for?

Answer: Tell me what you want, what you millennials really want!

Clearly my millennial mind was fueled by Spice Girls while writing this article…

Homeownership has been a cornerstone of the American dream for centuries. Despite the ever-changing landscape of urban and suburban lifestyles, it still rings true today. According to a 2019 Bankrate survey,  79% of Americans “still believe that owning a home is a vital component of achieving the American dream.”

Those Americans wanting to own a home are now from a different generation. It is the millennial generation that has surpassed baby boomers, reports the Pew Research Center. Not only have millennials taken the top spot in adult population size, but they make up the largest share of homebuyers. And, man, are they showing up in droves to the settlement table.

Over the past two years, millennials have held the top spot as homebuyers in the nation. According to the 2020 National Association of Realtors Home Buyers and Sellers Generational Trends Report, about 38% of buyers are born in the millennial generation (1981-1996) and roughly 69% are doing so for the first time. The majority of sellers are not in this generation. With a majority generation flooding the market as homebuyers, you start to see trend commonalities. Understanding what a typical homebuyer wants in their home can better position you as a seller to make your home desirable, thus making a larger profit.

Our area is in an inventory drought. Properties rarely stay on the market long enough to even make your scheduled showing the next day. With that being said, I still highly encourage sellers to envision their home through the buyer’s eyes. And, most often, that’s a millennial. I’ve listed a few of the hottest millennial buyer must-haves for sellers to consider in making their home stand out even more. Major renovations certainly are desired, but even minor tweaks can go a long way to get top value for your home.

Outdoor Space

As Mark Twain said, “Buy land — they’re not making it anymore.”

Although lot size can vary, it’s what you do with the space you have that matters. Many millennials are moving from a rental apartment that comes with none or very little outdoor space. They are seeking space and its versatility — a place for the dog to run, a space for small social gatherings, a patio to take work calls, etc. Some ideas to spruce up an outdoor space regardless of size are:

  • Refresh your landscaping to the correct season and make your curb appeal pop.
  • Power-wash your siding, windows, walkways, etc. to brighten your space and make it appear larger.
  • Replace window screens if your outdoor space is limited so you can bring the outdoors in.
  • Stage the outdoors! People want to see how a space could function.

Open Concept

The first option, of course, is to tear down the walls. However, that can be a huge expense for your budget and time. If that’s not in the cards for you, seller, the right staging can go a long way. Believe it or not, many millennials actually want space for a dining room table. To play up the space you have:

  • Draw the eyes up to make the space feel big by adding open-air shelving all the way to the ceiling or installing curtains rods higher on the wall above the windows.
  • Know that mirrors are your friend.
  • Brighten up the room with a fresh, light color of paint or simply replace all your light bulbs to a brighter, cohesive voltage.

Upgrade the Heart of the Home

The kitchen is a room you go in every day. I’d argue it’s the most used room in the house and, also, usually the room with the most wear and tear. Without breaking the bank, try the following:

  • Hire a professional to paint your cabinets — buyers can tell the difference!
  • Replace your faucets and/or hardware for a more contemporary style. (Matte black is very popular!)
  • Freshen up the backsplash.
  • Revitalize island lighting fixtures.
  • Meet a buyer halfway by installing modern appliances.

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Address: 1011 N. Washington Street
Neighborhood: Liberty Row
Listed: $2,750,000

Presenting a rare opportunity to enjoy an incomparable lifestyle in a desirable location in the newly revitalized North End of Old Town. This architecturally stylish custom home has been curated for the most discerning palate.

The gracious entry opens to an elegant living room with tray ceilings, a gas fireplace and French doors to a private patio. The kitchen is a dream with Viking appliances, an expansive center island and a cozy breakfast area with a gas fireplace. The formal dining room, study and sun-drenched garden room open from the kitchen for a seamless flow.

The upper level offers a sumptuous master suite with walk-in closet and three additional bedrooms, one with en suite bath plus a shared hall bath. The lower level is simply stunning with a fabulous media room, a family room with a generous wet bar, a wine cellar, and a guest bedroom and bath.

Imagine parking your cars in the two-car garage and walking to nearby shops and restaurants and soon, MetroStage and the Arts Center!

Listed by:
Kate Patterson
McEnearney Associates Realtors
703-627-2166
[email protected]
KatePattersonHomes.com

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Just Listed in Alexandria

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. I, along with my two rock-star team members, Sue Kovalsky and Micki MacNaughton, have more than 35 years of experience in real estate and sold over $103 million in 2019.

Join us this Saturday, Jan. 23, at 11 a.m. on our Instagram for a virtual open house featuring this Just Listed townhome in Warwick Village. This 3 BD/2 BA home features an updated kitchen, beautiful hardwood flooring and a renovated basement with egress — making it a fourth legal bedroom!

Enter into the hall, where you will find the kitchen to your left and the living/dining rooms ahead. The kitchen features ample cabinetry, stainless appliances with a brand new gas range, upgraded countertops, a large cut-through to the living and dining rooms, and plenty of space for food preparation or a cafe table. The living and dining rooms are spacious and flow to the private rear yard. The yard features a newer fence and gated area with a patio — great for outside entertaining!

The upper level of the home has three bedrooms and a full bathroom. On the lower level, you will find a recreation room or a bedroom. Large windows and recessed lighting allow for plenty of light. The laundry room — complete with cabinetry and utility sink — is found on this level as well. Rounding out the lower level is a full bathroom and large storage area. Located in Del Ray, shopping and restaurants are just a short walk away! An easy commute into D.C. and close to Old Town, this townhouse is just what you’ve been waiting for — welcome home!

2924 Landover Street, Alexandria, VA 22305The Jen Walker Team

We’re not trying to get ahead of ourselves, but we couldn’t wait to share this sneak peek with you. This is an amazing opportunity to get your sights on before anyone else! COMING SOON is this fabulous Beverley Hills beauty, 4 BD/2 BA and just a short walk to “The Pit” park.

The main level has a spacious living room with a wood-burning fireplace, a separate dining room, a light-filled sunroom/office, kitchen and a main level bedroom/bathroom. Access to the rear deck and stairs to the yard can be found off the sunroom. The upper level features three bedrooms and a full bathroom. Gorgeous hardwood flooring is found on the main and upper levels.

The lower level includes a recreation room with recessed lighting and new carpet, a laundry/utility room with tons of storage, and access to a garage — which is located at the rear of the home. The lower level walks out to the ground level and takes you straight to the large, flat, private yard. A newly installed patio is perfect for outdoor entertaining and summer barbecue! You will love relaxing in the yard, surrounded by gorgeous trees and beautiful landscaping — all installed within the past year. An additional storage area (or even a music room/clubhouse) is located on the lower level, accessible from the rear.

Enjoy all that Beverley Hills has to offer. This community is known for its tree canopy and rolling hills. The neighborhood has a suburban feel, yet is close to 395, Old Town, Del Ray and Metro — a commuter’s dream! North Overlook is one of the only streets with a sidewalk and crosswalks to Beverly Park, known as “The Pit.”

801 N. Overlook Drive, Alexandria, VA 22305The Jen Walker Team

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].

Additional Just Listed properties include:

In this midst of COVID-19, we will not be hosting any in-person open houses. We will, however, be going live on our Instagram every weekend for our virtual tours. Stay updated with our virtual tours by following us on our Instagram page for updates.

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

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®.

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This week’s Q&A column is written by Rebecca McCullough of McEnearney Associates Realtors®, the leading real estate firm in Alexandria. To learn more about this article and relevant Alexandria market news, contact Rebecca at 571-384-0941 or email [email protected]. You may also submit your questions to McEnearney Associates via email for response in future columns.

Question: What’s the 20/20 on 2020?

Answer: A year ago, all indications were that 2020 was going to be a good year for the real estate market in Northern Virginia. We started off strong, then COVID-19 hit, massive shutdowns followed and the market fizzled. For a few weeks in late March and early April, no one knew what to expect. Then, rather quickly, the market began to rebound, and by the beginning of June 2020 amidst so much strife and uncertainty, Northern Virginia experienced a full-fledged “spring market effect.” That active market continued to the end of the year.

Why so strong, and for so long? There are several reasons.

  • A strong economy: Even in the face of the pandemic, the U.S. economy was strong. The stock market reached record highs, and savings account balances actually increased as many individual expenses declined — such as daycare, transportation costs and entertainment expenses.
  • Changes to the way we live: In the past several decades, many people who chose to live within walking distance to work, restaurants, fitness places and entertainment found that during the pandemic those benefits were no longer available. Instead, they started searching for more space in which to live, cook and exercise — all at home, of course. To this effect, we saw a 211% increase in condo listings from December 2019 compared to December 2020!
  • Low interest rates: The drop in the average interest rate for a 30-year fixed-rate mortgage from December 2019 to December 2020 was over 1% (from 3.72% to 2.67%), translating to an increase of 14% in buying power. This allowed more buyers to enter the market, and their dollars went further.

In light of these factors, our market became a seller’s market quickly, as inventory was limited. It became the norm to see an “offer deadline” when listings were launched. The “new normal” scenario looked a bit like this: A listing goes active on Thursday, showings are scheduled and open houses are held throughout the weekend. A pre-offer inspection or two might occur in the same first weekend, and there was often a Monday 6 p.m. offer deadline. It was busy and interesting if you were the listing agent and sometimes torture for the potential five to eight buyer agents hoping their clients had the successful bid. Price escalations, contingency waivers and pre-offer home inspections became standard. This was true even through the last days of 2020 and has thus far continued into 2021.

As we compare December 2019 to December 2020, we see a 44.9% increase in the number of contracts in Northern Virginia. Fully available listings have increased by 22.2% over last year, largely due to the significant increase in condos under $500,000 coming on the market. The inventory for detached and attached homes is well below what it was at the end of last year, which will drive an increase in competition for these properties.

You can see by the graph below that at the end of December 2020 the months’ supply was significantly below the end of 2019. Months’ Supply is calculated by dividing the available inventory by the number of contracts for that month. A monthly supply number for normal markets is around 5 or 6, so with the current number being between 0.5 and 2.0, inventory is scarce!

What can we expect in 2021?

If 2020 taught us anything, it’s not to make predictions. However, we can make a few observations. The market is still strong, and while interest rates crept up a bit toward the end of the year, many believe that they will remain around the 3% mark for many months to come. Finally, with the pandemic still very much impacting the global outlook and our way of life, there are still many people hoping to make the jump to homes with additional space and home offices. We don’t anticipate the market cooling off in this area any time soon.

In conclusion, if you’ve been thinking about selling, please reach out. I can help you determine what the market value of your home could be and if selling in 2021 is right for you.

Rebecca McCullough has built a successful real estate business in Alexandria and Northern Virginia by providing excellent service to her clients. If you would like more information on selling or buying in today’s complex market, contact Rebecca today at 571-384-0941 or visit her website RebeccaMcCullough.com.

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

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Just Listed in Alexandria

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. I, along with my two rock-star team members, Sue Kovalsky and Micki MacNaughton, have more than 35 years of experience in real estate and sold over $103 million in 2019.

Join us this Saturday, Jan. 23, at 11:45 a.m. on our Instagram for a Virtual Open House featuring this Just Listed beauty in Del Ray.

Expert craftsmanship, fine details and top-of-the-line finishes are evident in every room of the beautiful Del Ray gem. Southern-style porch welcomes you to six spacious bedrooms, four full baths and three levels of grand living space. The gourmet kitchen overlooks the large living room with a gas fireplace. Take advantage of this excellent location, walkable to “The Avenue” in Del Ray and easy access to the Metro.

14 Caton Avenue W., Alexandria, VA 22301The Jen Walker Team

Another Just Listed home is available for your viewing pleasure Saturday, Jan. 23, at 11 a.m. on our Instagram!

This is a 3 BD/1.5 BA brick semi-detached home just blocks to “The Avenue.” An open floor plan on the main level boasts an updated kitchen with granite countertops and stainless appliances. Fine three large bedrooms upstairs with ample closet space, and beautiful hardwood floors throughout the home. Enjoy COVID-safe entertaining outside on the fabulous, large patio. Park in the driveway and walk to Braddock or King Street Metro, Del Ray and Old Town.

1316 Commonwealth Avenue, Alexandria, VA 22301The Jen Walker Team

Lastly, but certainly not least, is this newly listed condominium on Eisenhower Avenue with amenities galore! See it yourself this Sunday, Jan. 24, at 11 a.m. on our Instagram!

This is a fabulous 2 BD/2 BA updated condo. It has a great kitchen with granite countertops and lots of cabinetry. The living/dining room features wood flooring and fresh, neutral paint. There are two spacious bedrooms and en-suite bathrooms — great for everyday living. The patio off the living room is ideal for morning coffee or relaxing in the summer. Community amenities include a basketball court, community pool, clubhouse and more. There’s one garage space. Welcome home!

4850 Eisenhower Avenue, #105, Alexandria, VA 22304The Jen Walker Team

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].

Additional Just Listed properties include:

In this midst of COVID-19, we will not be hosting any in-person open houses. We will, however, be going live on our Instagram every weekend for our virtual tours. Stay updated with our virtual tours by following us on our Instagram page for updates.

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

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®.

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This week’s Q&A column is sponsored and written by Lisa Groover of McEnearney Associates Realtors®, the leading real estate firm in Alexandria. To learn more about this article and relevant Alexandria market news, contact Lisa at 703.919.4426 or email [email protected]. You may also submit your questions to McEnearney Associates via email for response in future columns.

Question: How did the challenges in 2020 affect the real estate market in Alexandria?

Answer: It is a good thing I had my two-week winter vacation in St. Martin right before the lockdown, because surprisingly enough it was extremely busy from the minute I got back in town.

Everyone, both in and outside of the industry, speculated about whether the market would take a nosedive, be similar to 2019 or increase over the year prior. With record breaking low interest rates as one of the motivating factors, it turned out to be an incredible year.

The year-end numbers in the City of Alexandria showed us that, for the most part, detached homes and townhouses were very much a seller’s market, with continued lack of inventory and more buyers in the mix. Multiple offers were not uncommon on properties under $1 million. Condo sales were more of a balanced market, with some price points dipping into a buyer’s market. Some say condo dwellers were motivated to move away from residences where they would need to share common spaces, especially elevators.

The concerns for the health and safety of buyers, sellers and agents required significant modifications in the sales process. Virtual and 3D tours and videos replaced the traditional Sunday afternoon live open houses. Social media, agent networking and alternative advertising became key components of a property’s marketing strategy. If a live open house was held, they were either by appointment or scheduled in a way to provide social distancing with everyone wearing masks, taking off their shoes and using wipes to open doors and cabinets.

For McEnearney, and for me personally, 2020 was an excellent year! The company as a whole exceeded the $2 billion mark in sales, while the Alexandria office was up 22.7% over 2019. Alexandria City increased by 15%, with ZIP code 22314 up 24%. Listings in the Alexandria office ranged from $137,000 to $4,825,000.

When I evaluated my numbers for 2020, I was thrilled to have achieved my best year yet by tripling my volume over 2019. Buyers made up 39%, sellers 61%,and townhouses made up 72.7% of my business. While in most years, referrals from past clients, friends and neighbors make up over 75% of my annual sales — my friends and neighbors themselves were the buyers and sellers of over 50% of the transactions in 2020.

Special thanks to McEnearney for providing the support, guidance and training needed for agents to modify their marketing plans as the months accumulated. Even with the offices closed for a good part of the year, we had access to the management team, marketing and support staff, and tools required to continue to exceed our clients’ expectations.

Lisa Groover is a licensed real estate agent with McEnearney Associates, Inc. in Old Town Alexandria. As an active member of the community since 1989, Lisa specializes in Alexandria and is thrilled to have the opportunity to work closely with her friends and neighbors in Old Town Village.

In addition to enjoying the Old Town lifestyle and the art-related events and activities, she is a member of a number of volunteer organizations. Having had eight golden retrievers, she is dedicated to helping other dog owners through the challenges of renting, buying and selling their home.

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 

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Just Listed in Alexandria

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. I, along with my two rock-star team members, Sue Kovalsky and Micki MacNaughton, have more than 35 years of experience in real estate and sold over $103 million in 2019.

Join us this Saturday, Jan. 16, at 11 a.m. on our Instagram for a virtual open house featuring this updated 3 BD/2 BA duplex in Del Ray only two blocks to “The Avenue.”

Open floor plan for today’s lifestyle — the main floor boasts a large living room that easily flows into the dining room. The updated kitchen with granite counters and breakfast bar opens to dining room and sun porch that leads to private backyard. There’s a lower-level family room and storage with gorgeous full bathroom. Upstairs are three generous sized bedrooms and a full bath. Southern exposure floods the home with light. Park in the driveway and enjoy Del Ray!

Updates to the home include: basement finished and installed bath with custom tile shower in 2016, new basement floor in 2019, new Trane furnace, hot water heater, washer and dryer in 2019, new Trane A/C in 2017, new patio in 2017, new refrigerator in 2020, reglazed tile in upstairs bathroom in 2016 and a new stone walkway at the side of house 2019.

9 E. Howell Avenue E., Alexandria, VA 22301The Jen Walker Team

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].

In this midst of COVID-19, we will not be hosting any in-person open houses. We will, however, be going live on our Instagram every weekend for our virtual tours. Stay updated with our virtual tours by following us on our Instagram page for updates.

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

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®.

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This week’s Q&A column is sponsored and written by Kim Peele and Hope Peele of The Peele Group and McEnearney Associates Realtors®, the leading real estate firm in Alexandria. To learn more about this article and relevant Alexandria market news, contact The Peele Group at 703-244-5852 or email [email protected]. You may also submit your questions to McEnearney Associates via email for response in future columns.

Question: Is this a good time to buy an investment property?

Answer: Happy 2021! We are all hopeful that it will be a very different year than 2020 and that the pandemic will be coming to a close. We are looking toward the future, and for many people interested in growing wealth that could mean buying a new home or investment property.

We have witnessed an extremely strong market for single family homes and townhomes in the D.C. metro area. Condos, on the other hand, have not sold quite as well this past year. While condos further out from D.C. are doing better, we currently have an excess of condos on the market closer in — probably due to people wanting more space. This translates into good news for investors.

For those who are looking for smart investments, owning a condo in the D.C. metro area is a dream investment, and this is the time to do it! David Howell, Chief Information Officer of McEnearney Associates, reports that while contract activity for condos is up in the entire D.C. metro area compared to this time last year, condo inventory in Alexandria is up 433% and condo inventory in Arlington is up 500%. Yes, those numbers are correct! There are a lot of condos on the market right now. We fully expect the condo market to come back strong at the end of this year; however, at the moment, this is a huge opportunity for cash buyers to take advantage of immediate rental income and long-term appreciation.

We have worked with many investor clients recently, and here is a recent example of how you can put your money to work for you: Buy a condo with cash for $175,000. The likely rent would be $1,550, less a condo fee of $421 a month, and 7% ($108.50) to a property manager. A property manager will manage your condo for you, reduce headaches and simplify your investment. This translates into an income of about $1,020 per month. Where else can you get that kind of return on your investment?

Another strategy that some investors are using is to buy a home outside of the metro area and rent it out with companies like Airbnb or VRBO for short-term periods. Some HOA and condo associations have rules against these types of rentals, but that is mostly closer to D.C. It is, of course, important to completely understand regulations before you make your decision to purchase. However, those who are willing and able to put in the effort have seen some amazing payoffs. Mountain and lake areas within 100 miles of D.C, are rising in popularity, and there are many great investment opportunities.

And for those still renting, this is the year to buy! Interest rates are still fantastic and down payments are much lower than most buyers realize. According to the 2021 Housing Forecast with Realtor.com, interest rates will remain low throughout the year but will rise toward the end of 2021. Why not put that rent money to work for you?

Buying real estate is an important part of building wealth. Whether it’s your first home or a long-term investment, real estate can be one of your most important purchases. For information on buying or selling investment properties or your own home and for making informed decisions, call The Peele Group today!

We will be hosting a Virtual Buyer Happy Hour on February 2, 2021. We will be joined by a lender and a home inspector and will answer all of your questions on the home-buying process. For an invitation, please send an email to [email protected].

For a professional, confidential evaluation of your home, please call or text us at 703-244-5852. We have a Dream Team of experts — contractors, staging advisors, photographers and more — to help make the right preparations, minimize stress and maximize profits!

Kim Peele is a licensed real estate agent with McEnearney Associates, Inc., lives in Old Town and works in Virginia, D.C. and Maryland. She and her daughter Hope Peele are The Peele Group. Kim is a second-generation Realtor and fourth-generation Washingtonian and is dedicated to helping owners through the challenges of selling their home.

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 

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