Vienna Husband And Wife Juggle Work, Kids To Sell Real Estate In Strong NoVA Market

VIENNA, VA — Real estate is already a family-oriented business as agents live and work with families buying and selling homes in their communities. But Gizelle and Michael Gorkowski take it to the next level, working as wife and husband in their Vienna-based real estate team.

Gizelle Gorkowski has worked in real estate since 2001 and has been affiliated with Compass for the last few years. Her husband, Michael, had a 25-year career in sales outside real estate, including some early experience in mortgage banking. Then he lost his job during the COVID-19 pandemic and joined his wife and established their real estate team, Gizelle and Co, about two years ago. The third agent on the team is Becky Nayak.

"Gizelle and I had always spoken about working together," said Michael Gorkowski. "And that was the opportune time to say, 'OK, let's take the risk and kind of join up and put some more purpose behind what we're dealing with.'"

Gizelle brings her track record of working in real estate, while Michael brings experience in sales, marketing, and the operational side of the business.

"We are both, I would say, strong personalities that complement each other," said Michael Gorkowski. "But we also are very self-motivated, entrepreneurial. So we have to have ownership of certain things and marry that with the balance of work."

The two are Northern Virginia natives and specialize in the region. Early in her career, around 2002, Gizelle appeared on local TV to discuss the housing boom, which led people to camp out overnight to secure a contract on a new construction home.

Today, potential buyers aren't necessarily camping out, but Northern Virginia is still a competitive housing market. Prices tend to be higher than the national average in Northern Virginia, according to Gizelle.

"I would say that while you do have the ebbs and flows in the Northern Virginia area, it's very transient, and homes are still selling, people are still buying," said Gizelle. "Sometimes it's a little bit stronger than others. And there are factors like interest rates and the pandemic that have affected things, but overall, it's a very consistent market."

Property value increases have been noticeable in recent years. But Michael says that shouldn't come as a surprise, as property value increases were marginal following the Great Recession from 2008 to 2018.

"People tend to forget, especially now after the last three years of this robust expansion we've had in growth, looking back at that, it can be a little surprising to say, oh, 40 percent gain," he said. "But if you spread that over 13 years, it goes back to the norms historically, which are around 4 percent appreciation."

Michael has been tracking the increase of housing values over the last 40 years. In 1980, the median housing price in the U.S. was $63,700 with a 12.89 percent interest rate on a 30-year mortgage. By 1992, the median home value was $119,500 with an 8.88 percent interest rate.

The only time the median value fell was during the Great Recession from December 2007 to June 2009. Median values fell from $257,400 in 2007 to $238,400 in 2012.

As of 2022, the median home value was $433,100 with a 3.85 percent interest rate.

While interest rates have gone up since the start of 2022, Gizelle expects interest rates will come down a bit. That just adds more competition to the Northern Virginia market during spring, which is typically the busy season for real estate.

"Just in general, there's not as much inventory out there, because a lot of the baby boomers are aging in place," said Gizelle. "So there's less inventory, and because of that more demand. So I think that the market is going to continue to be robust. And I think when interest rates come down, it's going to be even stronger."

Even in the competitive market, there is a price limit that may make a property not attract as many buyers. Michael says $1 million is a competitive price. At $1.5 million, a property doesn't have as many buyers but still gets attention.

By $2.5 million, there aren't as many buyers, giving greater opportunities to buyers.

Even though Gizelle and Co sells properties around Northern Virginia, their greatest specialty is the Vienna/Oakton area, where they live with their three children.

"I think it's such a special town. It's a really close-knit community. It has amazing schools with fabulous people and wonderful restaurants," said Gizelle. "It's in a great location that's close to several metro stops, major highways, close to a lot of shopping, whether it's in the Tysons area, Reston area, and still close to DC."

The 1960s was a significant time for many communities around Vienna to be established, according to Michael. Within the Town of Vienna, some of the older homes were built in the 1950s and are now being replaced with larger new construction homes. Town code allows homes to be built on up to 25 percent of the lot, which seeks to avoid stormwater runoff issues.

Living and working in Vienna means the couple gets to stay involved in the community. Gizelle previously got involved in her church preschool board as well as the PTA and high school booster club, while Michael has coached youth sports.

One other community initiative is the new "Commitment to Community" campaign, which spotlights local business owners. The first profile is a conversation Gizelle has with Social Burger owner Denise Lee, who has provided meals to front-line workers and a daytime homeless shelter during the COVID-19 pandemic.

Spotlighting these businesses can show clients why places like Vienna can be a good community to buy a home.

"The video series is really about community stewardship, how small businesses are committed to the community outside of what you may otherwise know them for," said Michael.

Living and working in Vienna means the parents can juggle work with the lives of their boys, aged between 11 and 19.

"If one of my kids has a game on the weekend, I'll go to the game, and then from there, I'll go to an appointment," said Gizelle. "It's great because it gives us the flexibility of being able to do activities for our kids, but still being able to be successful at work."

With that, the Northern Virginia natives have no intention of ever leaving the area.

For more information on the real estate team, visit Gizelle and Co's website.

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