Auctions in Arlington do not happen too often. And when they do, there’s usually a bunch of strings attached. The most common type of auction is one that takes place on the Courthouse steps that is full of cash buyers who are all looking to turn some dilapidated War-era colonial into their next flip.
That’s what makes the auction at 2015 S Arlington Ridge Road unique. There’s no reserve. And there’s no minimum bid. Oh, and the house is stunning.
The new construction home was built in 2016 and first listed for $3,975,000 in October 2016. After sitting on the market for almost 10 months and going through three different brokerages, the owner will be holding the auction on Saturday, July 26.
The story of how we got here is interesting. We do not know all the details, but here’s what we do know:
The land that the property sits on was originally bought in 2013 and was vacant of any homes or structures. For all you tree lovers out there, it’s best not to look at the archived Google Maps view of this property.
One week after the lot sold for $675,000, the owner then put the lot back on the market for $850,000. Want to guess how that turned out?
The property sat for over 300 days on the market, eventually dropping in price to $799,900 before being taken off the market in 2014. It was most likely at that point that the owner decided that her best course of action was to build the new home.
Sarakinis Construction has done many new construction homes throughout the Arlington area and ‘The Constantine’ will be their final project.
The home offers 6 beds, 7 baths, 7,900 square feet of living space, and room for seven cars throughout the two garages and driveway area.
The rooftop deck boasts views of Pentagon City and July 4th fireworks, although realistically you’d be looking through a large tree to get a glimpse of the fireworks. Nonetheless, the four-level home also has an elevator, a basement that is pretty much all above-ground, a sauna, and impressive ceilings.
I wanted to hate this house. I wanted to unsympathetically turn my nose up at this place. But I could not. It’s just too dang nice. Okay, there’s no yard or no pool. And other homes on Arlington Ridge Road have significantly better views. Oh, and you’re situated on the busy Arlington Ridge Road.
But what’s not to love? And don’t tell me you don’t like the exterior. Those who don’t like stucco are the same people that will point to Craftsman control-copy-paste homes in north Arlington and marvel at the architecture and originality. Never trust anyone that loves Craftsman homes. Craftsman homes are decent, but they are nothing special.
This home will go up for auction at 11 am on Saturday, July 26th. Someone is going to get a deal on this house. The property is tax assessed for just over $2.2 million, and even though most homes in Arlington sell for more than the tax assessed value, one has got to believe that because of the nature of the auction, the home will sell for much less than the assessed value. As a side note, don’t rely on the assessed value to price a home. That amount does not matter.
So what is the home worth? The highest price that a home has fetched in 22202 is $2,250,000 for 2765 Fort Scott Drive. That address not ringing a bell? The exterior will. You’ve seen this house before. This home is located on your favorite cut-through street to get to Potomac Yards.
I’m on the record saying I think it will sell for $1,990,000. After saying that number out loud a few times, that sales price still seems on the high end, but I am sticking with it. I think there are a handful of buyers that have been eyeing this property and waiting to put in an offer at the right time.
That time has come. Good luck.