This fall, the city is launching its community engagement for plans to update the 2005 Mount Vernon Avenue Business Plan and the 2003 Long-Term Vision and Action Plan for the Arlandria Neighborhood. The city cites the nearby arrival of Amazon, the Virginia Tech Innovation Campus, and the North Potomac Yard Metro station as looming developments that could start to change the character of the residential and commercial communities to the west.
Neighbors and organizations in and around the area are invited to offer feedback to help identify the most important community issues and start to build a framework for the new plans — which will start taking shape next year.
At a joint meeting of Arlington and Alexandria, city officials recognized that there was frequent difficulty in getting responses from communities most prone to the effects of gentrification, so several of the outreach events are focused on going out into the community and interviewing residents rather than relying on those residents and business leaders to come to meetings.
The first event will be this Saturday, Nov. 9, from 8:30 a.m.-1 p.m. at Simpson Field (500 E. Monroe Avenue). City staff will be out at the field talking with local residents and will move up and down Mount Vernon Avenue to speak with people in stores and markets, according to the city’s website.
Additional outreach events are planned throughout November and December.
A community conversation for Arlandria is scheduled for Thursday, Nov. 21, from 6-8 p.m. at Cora Kelly Elementary School (3600 Commonwealth Avenue). The meeting will be held in Spanish with English translation available.
A similar meeting for Del Ray is scheduled for Dec. 12 from 6:30 p.m.-8 p.m. at Mount Vernon Community School (2601 Commonwealth Avenue), this one in English with Spanish translation available.
Staff photo by Jay Westcott
This week’s Q&A column is sponsored and written by Jillian Keck Hogan of Jillian Keck Hogan Real Estate Group and McEnearney Associates Realtors®, the leading real estate firm in Alexandria. To learn more about this article and relevant Alexandria market news, contact Jillian at 703-951-7655 or email [email protected]. You may also submit your questions to McEnearney Associates via email for response in future columns.
Question: We have been reading all the headlines, but what really is the “Amazon Effect”?
Answer: The buzz of Amazon is something we have all been hearing and there is some truth to the stories being published, BUT as it relates to real estate, the effects are very situational with price point, condition and location.
We have been reading all the same publications, and we completely understand if all the news is making you a bit nervous as to when the best time will be to purchase or sell your home. Home prices have been increasing, but that is true of every year since 2010. There is a good chance you might be competing on a listing against another buyer, but that has been a possibility over the last 9 years, as well.
Here is a bit of advice from our COO, David Howell, at McEnearney Associates, Inc.: “Sell when you are ready to sell, and buy when you are ready to buy.”
The Most Competitive Markets
Now, competing as a purchaser is always a possibility in any price point. This is driven by a seller’s strategy. Some sellers can choose to market their home under the going market price in order to move a home sooner versus later. This does not mean the sellers are in distress or the property is falling apart. Sellers do this at times just to make their move easier and faster.
The Amazon Effect — in this case, the comparatively low number of homes on the market — has been the most notable in Alexandria and Arlington in price points under $900,000.
What Does That Mean?
Virginia selling tactics and competition have been progressively picking up, following the trend we see with the D.C. market having grown hotter and hotter over the last 5-7 years with increased new construction. With many agents in our area being licensed in D.C. and Virginia, the strategies to win out on a competing situation used in Virginia began to mimic what D.C. licensed agents had been doing for years: Escalating in price, waiving inspections (or completing them before the offer was submitted), and taking on more risk during the appraisal contingencies.
Sellers have a bit more control in negotiations and receiving multiple bids on their home over list price. As a buyer, this could mean that you write a few more offers, but do know that this does not mean you have to “overpay” for a home.
The Amazon Effect is nothing that our DMV has not seen before. If you are looking to purchase under the $900,000 price point, be assured that it is very possible to buy a great home at a great price when going in with a strong strategic offer. And sellers in this same price point, be sure to still give your home all the best finishing touches to show well and review your neighborhood comparable sales before selecting your final price.
No, home prices have not doubled — but you are in a very fortunate position to be getting some of the highest prices ever in your neighborhood and you can receive offers with less contingencies which otherwise could have cost you more money.
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
In a rare joint meeting of top Alexandria and Arlington officials, the two communities laid the foundation for a closer collaboration on affordable housing.
Alexandria Mayor Justin Wilson and the City Council met with the Arlington County Board last night (Tuesday) at Arlington’s Gunston Community Center after Wilson’s proposal to meet on a flotilla of lashed-together kayaks in Four Mile Run was shot down. There was very little set in stone at the meeting, but the gathering allowed both organizations to set priorities for policy goals as they prepare for Amazon’s HQ2, the new Virginia Tech Innovation Campus, and a new George Mason University School of Computing.
“The work around Potomac Yard is different and groundbreaking,” Wilson said. “If we’re not intentional and deliberate, things will just happen to us. We have a chance to get ahead of things. I’m hoping to set a course that our staff can get to work on all of these policy areas.”
“I’m very excited for this step,” Wilson continued. “This is the start of a journey for us and there are a lot of folks rooting for us.”
There was some early discussion of new governing bodies being established to facilitate collaborative efforts across local boundaries. Arlington County Board Chair Christian Dorsey raised the possibility of establishing a community development corporation — a 501c3 with he described as being capable of a great deal of flexibility. The idea, however, was tabled for the time being.
“There are a few different concepts that have been tried elsewhere and have been put in place in our respective communities,” said Dorsey. “We can have a variety of governance models with a broad representation of stakeholders. There is an endless number of configurations we can use and get all the benefits of an independent nonprofit.”
For the most part, the two governing bodies mingled seamlessly — though frequent, joking barbs were traded back and forth, with Arlington at one point threatening to annex Del Ray. Both organizations shared almost identical concerns about the upcoming arrival of Amazon, particularly on the headquarters’ impact on local affordable housing.
Councilwoman Redella “Del” Pepper said many of Alexandria’s most vulnerable populations feel that the loss of affordable housing in the region is a foregone conclusion and some were starting to flee Alexandria before rising costs pushed them out.