Another example of runaway prices in Arlington

[Anonymous]

Bought for a little under $1.1M in 2024 and listed for $1.5M under 2 years later (with what looks like minimal work done). That's 36% appreciation in under 2 years. Wow!

https://www.homes.com/property/425-n-norwood-st-arlington-va/y817f3m4e71j2/

[Anonymous]

There was no arms-length sale in 2024. One person added someone to the title and for whatever reason, put in a sales price of $1.06 million. Arlington flagged that this was not a market sale.

[Anonymous]

Anonymous wrote:There was no arms-length sale in 2024. One person added someone to the title and for whatever reason, put in a sales price of $1.06 million. Arlington flagged that this was not a market sale.

Owners changed entirely when it sold in 2024 re: Arlington property records. Looks like may have been a pocket listing. You can put 2 and 2 together via the listing agent and owners.

[Anonymous]

Anonymous wrote:

Anonymous wrote:There was no arms-length sale in 2024. One person added someone to the title and for whatever reason, put in a sales price of $1.06 million. Arlington flagged that this was not a market sale.

Owners changed entirely when it sold in 2024 re: Arlington property records. Looks like may have been a pocket listing. You can put 2 and 2 together via the listing agent and owners.

what does that mean? a pocket listing would be unrelated buyers and sellers.

[Anonymous]

Anonymous wrote:

Anonymous wrote:There was no arms-length sale in 2024. One person added someone to the title and for whatever reason, put in a sales price of $1.06 million. Arlington flagged that this was not a market sale.

Owners changed entirely when it sold in 2024 re: Arlington property records. Looks like may have been a pocket listing. You can put 2 and 2 together via the listing agent and owners.

Incorrect. You're looking at 2023, which was another nonmarket sale that got marked with a $0 price. In 2024, that was the $1.06 million price that involved the property bring retitled from person A, to persons A+B. There has been no arms length sale of this property since 1995.

BTW, pocket listings are arms-length transactions, so they would not received the "not a market sale" designation from the county.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There was no arms-length sale in 2024. One person added someone to the title and for whatever reason, put in a sales price of $1.06 million. Arlington flagged that this was not a market sale.

Owners changed entirely when it sold in 2024 re: Arlington property records. Looks like may have been a pocket listing. You can put 2 and 2 together via the listing agent and owners.

Incorrect. You're looking at 2023, which was another nonmarket sale that got marked with a $0 price. In 2024, that was the $1.06 million price that involved the property bring retitled from person A, to persons A+B. There has been no arms length sale of this property since 1995.

BTW, pocket listings are arms-length transactions, so they would not received the "not a market sale" designation from the county.

Looks like the owner or listing agent popped in to clarify things since none of this is specified in county records.

[Anonymous]

I live nearby. that location is pretty close to perfect. That is a great house for someone with one kid - or two kids far apart enough in age that one can sleep on a different floor.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There was no arms-length sale in 2024. One person added someone to the title and for whatever reason, put in a sales price of $1.06 million. Arlington flagged that this was not a market sale.

Owners changed entirely when it sold in 2024 re: Arlington property records. Looks like may have been a pocket listing. You can put 2 and 2 together via the listing agent and owners.

Incorrect. You're looking at 2023, which was another nonmarket sale that got marked with a $0 price. In 2024, that was the $1.06 million price that involved the property bring retitled from person A, to persons A+B. There has been no arms length sale of this property since 1995.

BTW, pocket listings are arms-length transactions, so they would not received the "not a market sale" designation from the county.

Looks like the owner or listing agent popped in to clarify things since none of this is specified in county records.

It's all there. Just go to https://propertysearch.arlingtonva.us/. You shouldn't trust property history on homes.com, zillow, redfin, etc., because they'll often get it wrong or omit relevant details such as a transaction not being arms length, as was the case for this property in 2024.

[Anonymous]

Anonymous wrote:I live nearby. that location is pretty close to perfect. That is a great house for someone with one kid - or two kids far apart enough in age that one can sleep on a different floor.

Do you think having 1 bathroom upstairs will hold it back or is that price possible?

[Anonymous]

Good location walkable to lots of things. Great starter house.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There was no arms-length sale in 2024. One person added someone to the title and for whatever reason, put in a sales price of $1.06 million. Arlington flagged that this was not a market sale.

Owners changed entirely when it sold in 2024 re: Arlington property records. Looks like may have been a pocket listing. You can put 2 and 2 together via the listing agent and owners.

Incorrect. You're looking at 2023, which was another nonmarket sale that got marked with a $0 price. In 2024, that was the $1.06 million price that involved the property bring retitled from person A, to persons A+B. There has been no arms length sale of this property since 1995.

BTW, pocket listings are arms-length transactions, so they would not received the "not a market sale" designation from the county.

Looks like the owner or listing agent popped in to clarify things since none of this is specified in county records.

It's all there. Just go to https://propertysearch.arlingtonva.us/. You shouldn't trust property history on homes.com, zillow, redfin, etc., because they'll often get it wrong or omit relevant details such as a transaction not being arms length, as was the case for this property in 2024.

I started with the county portal, and again, the details shared above are not in the portal / supported by county records. One thing you said is correct and 2/3 are incorrect. I’m assuming you’re the owner(s) or agent since you’re doubling down when the records say otherwise.

Good luck with the sale, should still sell well given location.

[Anonymous]

Anonymous wrote:Good location walkable to lots of things. Great starter house.

A starter house for $1.5 million? How is this sustainable?

[Anonymous]

Anonymous wrote:Good location walkable to lots of things. Great starter house.

I love this house. Would love it even more at $1.1 million though.

[Anonymous]

Anonymous wrote:Bought for a little under $1.1M in 2024 and listed for $1.5M under 2 years later (with what looks like minimal work done). That's 36% appreciation in under 2 years. Wow!

https://www.homes.com/property/425-n-norwood-st-arlington-va/y817f3m4e71j2/

While the property sales prices/listing price shows a 36% increase, the investment returnshould be dramatically higher as the owner/investor would have invested only about one-third (33.3%) of the sales price of $1.1 million (includes down payment & Reno budget). So probably will generate closer to 100% rate of return to the seller.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Good location walkable to lots of things. Great starter house.

I love this house. Would love it even more at $1.1 million though.

Same. I love it. At $1.1 or even $1.2, I could manage it. Can't do $1.5.