R EA L E STATE
FALLS CHURCH NEWS-PRESS | FCNP.COM
FALL 2020 | PAGE 11
R���F���E����� 2020
Cram House’s High Price Makes Subdivision Sale Option Possible
BY MATT DELANEY
FALLS CHURCH NEWS-PRESS
The Victorian-style home once occupied by beloved City of Falls Church resident Barb Cram is on the market just four months after her passing, but its lofty price tag has made the option of purchasing a parcel of its land a bit more appetizing — especially to home construction companies. “There’s been a great deal of builder interest in the lot,” listing agent Tori McKinney, of Rock Star Realty, said. The possibility of buying a chunk of the lot was brought
into the equation by Steve Cram, Barb’s husband. He submitted a request to the City’s planning commission — which has subsequently been approved — for the lot to be subdivided, shaving off about a quarter of an acre in the rear of the home, where its driveway, detached garage and the rear of its garden is situated. “There aren’t many lots available in this neighborhood. That’s the reality. The market reality,” Cram said. As it stands now, the home and all 0.7 acres of land it sits on is going for $2.7 million. After two open houses in late September that, according to
McKinney, welcomed in about 200 people, there has yet to be any significant bites so far. If someone were to purchase the lot for $750,000, then it would knock down the price of the home and the remaining half acre to $1.95 million. Outside of land alone, the price would be reduced since the added solarium, or sunroom, of the home that houses its multi-purpose pool would have to be demolished to create more space for the other home to be built. The listing prices are well above City averages. According to Redfin, the median sales price in Falls Church is $972,000. And
A VIEW FROM THE GARDENS that serve as the entrance to the Cram’s Victorian era home along Jefferson Street. The garden and home were featured in Virginia’s Historic Garden Week in April 2016 after the garden had fully matured after 30 years. (P����: N���-P����.)
the average days on market is 25, per Redfin, which the Cram house recently eclipsed. McKinney wouldn’t go as far as to say selling the home is a challenge, but it is an acquired taste. Historic homes usually
have to appeal to people who would rather a home with some patina over one that’s recently constructed. And she said the pool of historic homes is differ-
Continued on Page 12
INSIDE: F.C. Housing Market Bounces Back, But Overall Sales Prices Down ���� 15 | F.C. Real Estate Market #s (insert) ����� 16
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R EA L E STATE
PAGE 12 | FALL 2020
FALLS CHURCH NEWS-PRESS | FCNP.COM
Builders Showing Interest in Quarter-Acre Lot for Potential New Home Site Continued from Page 11
ent to choose from locally as opposed to where she started out in the Boston metropolitan area, with the Washington, D.C. region having more row homes in it. Despite this Beech-Lester house originally being built in 1906, the 6,200 square foot residence feels anything but. Cram talked about a four year labor of necessity in renovating the home top-to-bottom, removing everything but a couple of interior walls, a few floor joints and the flooring that forms the wraparound back patio. The family completely remodeled the kitchen, living and dining area by knocking down the walls separating it. They even added what they call a “ballroom” behind the common area where they would host parties, and when no one was around, put their couch and TV. In the furthest part of the house is where the solarium is located. Elements of the original structure exist as well. The parlor and library to the immediate left and right, respec-
tively, of the foyer remain mostly unchanged. The five bedrooms on the second level have all been updated, though the eagle’s nest that sits on the third level had been converted into the master bedroom, and the two additions of the ballroom and solarium doubled as a private back deck for the third level. Meanwhile, Cram described the home’s lavish garden as his wife’s labor of love. Barb, as Steve put it, said a garden takes 30 years to mature. “And so, she spent the first couple of years preparing the soil and preparing the site for her plan. Then she began to execute the plan literally 30 years ago,” Cram said. Everything from Guillermo’s Walk in the front with its hedges serving as archways to a bench with Devonian Age stone from 375 million years ago were a part of Barb’s vision. The dedication from her and Steve landed them as a featured home during the Historic Garden Week in Spring 2016; nearly 30 years exactly from when the couple purchased the home in 1986. But for now, McKinney and
THE SOLARIUM would be the one addition of the Cram’s house that would be lost if the subdivided lot is sold separately from the entire package. (Photo: Courtesy Rock Star Realty) Cram wait. And as the home hopes to attract the right buyer, Cram isn’t rushing to any kind of judgment about what’s next
for him. “I’m taking everything a day at a time — literally,” Cram said. “It’s been only four months
since my wife died, and it’s been a very busy four months getting everything ready, so I take tomorrow when it comes.”
R EA L E STATE
FALLS CHURCH NEWS-PRESS | FCNP.COM
FALL 2020 | PAGE 13
Over 3 Billion Sold
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Memory House, Circa 1890 Victorian Home. Original owners , Mr. Fellows who served as the 1st chair of Arl. Board & Mayor of Falls Curch.
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PAGE 14 | FALL 2020
R EA L E STATE
FALLS CHURCH NEWS-PRESS | FCNP.COM
A Falls Church News-Press Advertorial
M e e t Fa l l s C h u rc h’ s Re a l E s t a t e E x p e r t s Bethany Ellis
Bethany Ellis owns and operates a highly successful real estate business in Northern Virginia and Washington, DC. She is an experienced Realtor® whose goal is to exceed your expectations. Her knowledge of the local market, attention to every detail, excellent negotiating ability, and effective communication ensures that your real estate transaction will go smoothly from start to finish. Bethany has direct access to lenders, home inspectors, new home developers, settlement groups, and local service providers (painters, plumbers, carpet suppliers, handymen, electricians, plumbers, and more). If you’re looking to find a new home, build your dream home, get market statistics for your home or neighborhood, sell your existing home, make improvements to your current home, buy or sell an investment property or need answers to any real estate questions, make Bethany Ellis your real estate resource. Bethany Ellis, Long & Foster 1355 Beverly Road, Suite 109 McLean, VA 22101 703-307-7003 • BuyandSellWithBethany.com
Tori McKinney Being a Realtor® perfectly blends Tori’s passion for Falls Church and finding clients their dream homes in her beloved community. After moving to Falls Church in 1998, she immediately immersed herself in community advocacy as a 10-year Housing Commissioner and a 20-year ongoing public school volunteer. While maintaining her NVAR Lifetime Diamond status, she is a Top Producing Realtor in the Washingtonian and Arlington Magazine. Named Pillar of the Community by Falls Church Chamber of Commerce, she is annually voted Best Realtor by Falls Church News-Press readers. McKinney is Falls Church’s expert, eager to provide home buyers and sellers ROCK STAR service. Her participation with Tinner Hill Heritage Foundation led to becoming Executive Producer of Tinner Hill Music Festival, the Foundation’s premier fundraiser taking place next year on June 12, 2021. This philanthropic work in the arts combines her prior music industry career with her ongoing dedication to LIVE music and the musicians who are the creative fabric of our community. Tori is ever so grateful for all of her ROCK STAR clients and the community that she serves. Call Tori to help you find the home you LOVE! Tori McKinney | CEO & Realtor® | ROCK STAR Realty Group 2101 Wilson Boulevard, Arlington, VA 22201 703-867-8674 • ROCKSTARRealtyGroup.com
Louise Molton
For over three decades I have been fortunate to call Falls Church home, sending my children to the amazing school system and making deep friendships with the people I’ve met along the way. With extensive local knowledge and a heart for the community,helping people find homes has been my passion for the past 15 years . Five years ago marked a milestone in my real estate career as I opened a brand new Brokerage, RE/MAX West End in downtown Falls Church City, with the mission to provide the highest level of client service
and expertise to our community. Our 26 exceptional agents assist clients at every turn, from first time home buyers to experienced investors, from downsizing to relocating.We serve DC , MD and Virginia and have expanded to Delaware and the Williamsburg area. Even during Covid, we have been busier than ever, our client’s health and safety always our top priority. Every situation is unique, but the one constant is our commitment to excellence and exceeding your expectations! We are all committed to supporting local organizations like Children’s Miracle Network, Homestretch and Bridges to Independence and love to host events to support the community. If you have any real estate needs or questions,please don’t hesitate to reach out and let us know how we can help you! Louise Molton,Remax 710 W. Broad Street, Falls Church, VA 22046 703-596-5303 • LouiseMolton.com
Casey Margenau With more than 40 years in sales, $3 billion in real estate sold, over 30 years as a Top Producer in Northern Virginia, Casey Margenau uses his wealth of experience to ensure the financial success of his clients. In 2013 Casey saw a need for a boutique real estate company for the higher end market and he established Casey Margenau Fine Homes & Estates. His in-depth market knowledge allows him to ensure the financial success of his clients. By custom tailoring a marketing strategy for each property, Casey provides the greatest exposure to achieve the goal of the highest offers possible in the shortest period of time. Many area builders rely on his expertise when making development plans. As a Certified Relocation Professional, Casey is able to access the corporate relocation purchaser and a vast worldwide referral network. His professionalism and attention to detail have led him to the very top of his field. Casey Margenau, Fine Homes and Estates 8478A Tyco Road, Vienna, VA 703-442-8600 • Margenau.com
Jean Reid I love Real Estate. I have 25 years of experience as a international mover. I have moved 19 times in 25 years! My worldwide travels have made me an expert on moving and I am ready to help you find your dream home. I am an expert in helping clients with relocation from a global to a local perspective. I am happy to help you with any questions about your upcoming move. No one will work harder to help you find or sell a home. My business acumen enables me to see houses objectively for you. Throughout my career, I have gathered insights that are invaluable for my clients, from listing, selling and moving perspectives. I continuously strive to build a positive and professional real estate business experience by providing my clients with more than they expect. I will work with you to uncover your needs, wants and goals to help you achieve overall real estate happiness. I am a member of BrightMLS, the National Association of Realtors (NAR) and the Northern Virginia Association of Realtors (NVAR). I am also rental certified. I have been married for 25 years and have two children and a Labrador Retriever. I am a breast cancer survivor. I love the Washington Nationals! I attended the University of North Carolina at Chapel Hill. Jean Reid, Weichert 1313 Dolley Madison Blvd, McLean, VA 22101 703-336-3808 • jean-reid.weichert.com
FALLS CHURCH NEWS-PRESS | FCNP.COM
R EA L E STATE
FALL 2020 | PAGE 15
F.C. Housing Market On Upswing, But Cheaper Family Homes Staying Put
BY PATRICIA LESLIE
FALLS CHURCH NEWS-PRESS
It only took about ten days for the Falls Church housing market to spring back from its Covid-19 winter lull, though the lack of midtier homes available has revealed a year-over-year decrease in sales price. That’s the time Thai Hung Nguyen, Falls Church veteran agent and Better Homes and Garden broker, estimates the market paused after Governor Ralph Northam called for a shutdown and people stayed home. “Buyers took a step back. Sellers took their properties off the market, but near the end of March, we started to receive inquiries.” Since then, the pace has only quickened. Another longtime Falls Church and Northern Virginia agent, Jeff Wu with Keller Williams Capital Properties, said, “After they stopped binging on Netflix, people went to Zillow and other places on the Internet and started looking.” The two agents said vacant homes sold fastest because no one had to worry about germs
THOSE LIVING IN condos have been part of the group wanting to move up ever since the pandemic with tenants wanting to reduce the amount of common surfaces they touch. (P����:P������� L�����) too much, and those homes were move-in ready. Most industry specialists predict the “spring thaw” will con-
tinue well into next year and maybe beyond. Chris Finnegan is the chief marketing and communications officer
for Bright Multiple Listing Service and its 95,000 real estate professionals in the Mid-Atlantic region. He said, “Falls Church is the
really hot area benefitting from the halo effect” of Amazon’s move to Northern Virginia. Combine Amazon with the federal government and its relative insulation from Covid-19’s economic effects in “a market that’s on fire to begin with” and you get “Northern Virginia, one of the hottest and widely examined markets in the U.S. — and this is not hyperbole,” Finnegan said. Lisa Sturtevant, the chief economist for Virginia Realtors, said that in addition to Falls Church’s attractiveness, other prime reasons for the area’s continuing momentum was the commonwealth’s strong housing market before coronavirus. “Some markets were already seeing a slowdown. Our peak occurred later and more slowly.” Plus, Virginia was better prepared than the northeastern U.S., particularly New York City. “A lot was in place to help mitigate some of the slowdown,” including the governor’s stay-at-home order. “Northern Virginia and Falls Church did dip a little bit more than the U.S. and Virginia statewide,”
Continued on Page 16
Falls Church City Premier Homes 212 E Jefferson Street
Treasured Cram Estate ~ Historic Home, Historic Gardens ~ This remarkable 5 Bedroom, 3 Full & 2 Half Bath Victorian, c. 1904 is perfect for both the garden enthusiast and entertainer. As you stroll up the front brick and stone walkway, you become immersed in the inviting English-style gardens. With carefully selected foliage, each corner has a garden within a garden. The home's interior is equally impressive and features a stately marble and mahogany foyer, parlor and library, grand ballroom, and a tree-top Owner's Oasis. Timeless touches from the past blend perfectly with the comforts of today. ~ Victorian beauty and celebrated gardens ~
308 Poplar Drive
Imagine awakening in Tuscany without stepping on a plane! This magnificent custom home with the finest of architectural features resembles a European villa and offers the perfect space for seamless indoor and outdoor entertaining and living. Multiple French doors lead you to the stately stone terrace overlooking the nearly 1/2 acre of manicured grounds. The verandas allow for relaxing with a glass of wine while imagining your Italian lifestyle. The 2-Story library with floor-to-ceiling bookshelves and an impressive stone fireplace to cozy up with a vacation novel. The open floor plan in this over 6,500 sq ft home presents a substantial family room and chef's kitchen with coffee bar, ice machine, and everything needed for prepping those sumptuous delicacies to be served outside or inside in your informal dining room. The epicenter for entertainment includes your 1,000-bottle glass-enclosed wine cellar & tasting room is the beginning of the spectacular lower level A dramatic Owner's Oasis in its own wing upstairs awaits you with a wet bar and private tree-top balcony - perfect for sunrise coffee. ~ One of a kind Architectural masterpiece ~
R EA L E STATE
PAGE 16 | FALL 2020
FALLS CHURCH NEWS-PRESS | FCNP.COM
Tenants From Condos, Townhomes Moving Out Quicker Due to Virus
Continued from Page 15
but that was mainly because “there was nothing to buy.” A smaller inventory helps explain why spring and summer prices in Falls Church fell below last year’s, explained Nguyen. Because there was little available in the $700,000 to $900,000 range this year, cheaper townhomes and condos which sell faster brought down averages. “We had a lot of people who got out of condos and moved up,” he said. “It usually takes 30 to 60 days to close, and only in May and June did we start to get more inventory, but not much.” Inventory continues to be a major problem for buyers. Anthony Fields, Bright’s lead market researcher and data analyst, estimated Falls Church’s inventory is a month (14 homes) or less. (Nguyen says two weeks.) “Buyer demand won’t be satiated anytime soon,” Fields said. August 2020 figures reveal the median sold price for a Falls
Church City home was $642,500, down 13 percent from a year ago, but just five percent year-to-date ($800,000). This compares with the area’s August, 2020 median price of $515,000, and nationally, $315,000, for existing homes and $312,800 for new ones. Nguyen tells of one house in Falls Church City listed at $700,000 which received 18 offers and sold for $780,000. Multiple offers are not uncommon. “The sweet spot in Falls Church is between $700,000 and $900,000,” and those homes are on the market for a week or less. “Homes at a million dollars are in a different category and they may stay on the market slightly longer, but if you see any property for longer than 10 days, it’s a chance to negotiate.” Condos, long the bane of any type of residential housing, have lost some cache, according to Wu, because no one wants to share elevators, hallways, or be close to neighbors. Nguyen said condos are still selling in Falls Church, espe-
cially to first-time buyers who can almost find “free money.” Finnegan called the low interest rates “through the floor.” Wu said: “It’s almost like they are giving it [money] away.” Most predict low rates will last another year, at least. Many homeowners have begun re-evaluating their lifestyles and retrofitting their homes to meet 2020 needs. “Once people realized what the new reality looked like, they began thinking and wanting outdoor features, a yard, a deck, a screened-in porch,” said Wu. And if it can’t be redesigned, well, there are always cheaper properties not too far distant, like in Winchester, Fredericksburg and even Charlottesville, which Sturtevant says are luring Northern Virginians away. “Working from home may become permanent,” she said. “Residents may realize ‘I don’t need to be in Northern Virginia and as good as Falls Church is, we can have a quality of life that’s more affordable in a rural market.’”
FALLS CHURCH REAL ESTATE BY THE NUMBERS Falls Church Area Housing Market — September 2020 Report Zip Code Area
MODEST, SINGLE FAMILY HOMES have been harder to come by for buyers, with inventory issues in Falls Church being more pronounced this spring and summer. (Photo: Patricia leslie)
More at FCNP.com Oakwood Reinvented as Falls Green (Monday) What was formerly the Oakwood Apartments along Roosevelt Boulevard in the City of Falls Church has undergone an extensive renovation and rebranding as the Falls Green apartments. Read all about the complex’s new look from developer Insight Property Group and residents when this story goes online on Monday, Oct. 12 at noon.
Under Contract in 2 Days!
Median Price Number of Homes Sold Average Days on Market
22046
City of Falls Church $928,384
21
6
22041
Bailey’s Crossroads $433,212
27
6
22042
Sleepy Hollow
$628,565
50
5
22043
Pimmit Hills
$634,250
35
7
22044
Lake Barcroft
$663,250
12
5
Condo For Sale in Heart of Falls Church City Beautiful 1018 square ft top floor 2 BR 1 BA condo with newly renovated kitchen and bath. Walking distance to many Falls Church destinations Harris Teeter, State Theatre, Farmer's Market, WO&D bike trail. Easy access to Routes 7, 50, 66, 495, Metro and two airports. $364,500.
For appointment Call: Steve/Debbie 703-866-8199 OR 703-298-6653
Jean Reid REALTOR®
Weichert Realtors, McLean 1313 Dolley Madison Blvd. McLean VA 22101
703- 760-8880 office 703-336-3808 Mobile