(703)765-0300

Author: National Association of Realtors

Home » Archives for National Association of Realtors » Page 2

More Americans Optimistic About Housing Recovery

More than half of Americans — 51 percent — now say they expect home prices to increase within the next year, according to a survey by mortgage giant Fannie Mae of about 1,000 Americans’ attitudes toward housing. “For the first time in the survey’s three-year history, the majority of Americans surveyed now expect home prices to increase,” says Doug Duncan, senior vice president and chief economist at Fannie Mae. “Crossing the 50 percent threshold marks a significant milestone as most Americans believe a housing recovery is truly occurring throughout the country.” Last year at this time, only 32 percent said they expected home prices to increase. More Americans in April also said now is a good time to sell, climbing four percentage points to 30 percent last month compared to 15 percent one year ago. The number of respondents who expect mortgage rates to rise dropped 3 percentage points to 43 percent in April, while 7 percent said they expect rates to drop fell slightly to 7 percent, according to the survey. Source: “Survey: Over 50% of Americans Expect Home Prices to Rise,” The Wall Street Journal (May 7, 2013)

Properties in

$address
See Homes in Alexandria
Explore homes in Alexandria
$address
See Homes in Arlington
Explore homes in Arlington
$address
See Homes in Fairfax County
Explore homes in Fairfax County

  • Julie Nesbitt

    Julie Nesbitt
    Julie Nesbitt knows the back trails and by-ways of Northern Virginia real estate.

    Read More

  • Enjoying Winkler Botanical Preserve

    We had a great time walking the trails. 

    Read More

  • Don’t take chances with real estate.

  • REDUCED: 7202 Churchill Rd, McLean

    Open House, Sunday, 1-4 BIG PRICE DROP! 7202 CHURCHILL ROADMcLean, VA 221016 Bedrooms5.5 Bathrooms6,752 SF $1,695,000

    Read More

  • Good Shepherd Housing and Family Services

    Fairfax County
    Established in 1974 with a mission to reduce homelessness, increase community support and promote self sufficiency, the Good Shepherd Housing and Family Services is operated by a multi-denominational board of directors and staff managing over 70 housing units. Good Shepherd Housing and Family Services is located in the Mount Zephyr Business Center at 8305 Richmond…

    Read More

4 Threats That Remain in Housing Recovery

The housing recovery appears to be on track and growing stronger. Home sales and prices are up after reaching bottom in 2010, foreclosures and mortgage delinquencies are dropping, yet housing affordability still remains high. So why are some analysts and economists concerned? At a recent Milken Institute Global Conference in Beverly Hills, Calif., panelists said that threats to the housing recovery still remain. The biggest threats they pointed to included:
  1. Land scarcity: Real estate developers are struggling to find desirable land to start new projects, which is limiting the supply of new homes. A few years ago, banks took ownership of land after developers had foreclosed on some projects. The land is worth less than its original price so banks are reluctant to write off additional losses by selling it too cheaply. Plus, lenders remain cautious about issuing loans for new land purchases.
  2. House flippers should be cautious: Housing affordability is high mostly due to super low mortgage rates, and investors are taking advantage with intentions of flipping homes for profit. "No doubt you can buy a house today and get a really good price and a low-interest loan,” says Jeff Greene, president of Florida Sunshine Investments. “But if you want to sell that house to somebody two or three years later and rates go up to 5 or 6 percent, how much is he going to pay for that house?"
  3. Foreign buyers potentially inflating prices: In some markets, strong demand by foreign buyers has helped home prices recover, which has made homes more expensive for Americans in some areas. Some analysts fear that it could even lead to another housing bubble if interest rates started rising quickly as well. Markets like Miami, Los Angeles, and New York are seeing strong demand among foreign buyers. Some say this is a good thing, because it reflects a strong faith in the U.S. market.
  4. A ‘patchy’ recovery: Some markets are seeing rapid increases with bidding wars, rising prices, and low inventories, while other markets are still at a standstill. For example, Miami’s housing market is “on fire” while 80 miles north in Palm Beach County there’s a “huge glut of housing,” says Greene.
Source: “5 Reasons the Housing Recovery Remains Wobbly,” U.S. News & World Report (May 3, 2013)

  • Home Prices In Arlington Continue To Hike

    Glendale
    The housing market in Arlington County is getting more and more expensive as potential buyers continue to have fewer homes and condos to choose from.

    Read More

  • Inlet Cove is near Fort Belvoir and Potomac Mills

    Inlet Cove outside Belvoir
    Inlet Cove is alongside Route 1 This neighborhood of townhouses is near grocers and eateries Inlet Cove is close to Fort Belvoir, Alexandria, and Potomac Mills shops, in the city of Woodbridge Interior to these properties are multilevel Inlet Cove is serene

    Read More

  • Pending Home Sales on an Upswing

    home inspector
    Pending home sales increased again in March, affirming that a surge of home sales is unfolding for the spring home buying season, according to the National Association of REALTORS®. The Pending Home Sales Index, a forward-looking indicator based on contracts signed in March, rose 5.3 percent to 102.9 from 97.7 in February, and is 21.1…

    Read More

  • A Good Time to Buy a High-End Home

    Station Square
    Some of the best housing deals are on high-end homes, many over $1 million. Some of them need TLC or they aren’t in the most-coveted locations. But there are plenty of desirable properties and lots of sellers who are getting impatient. Buyers with cash have the best opportunities. Buyers who need a mortgage should move…

    Read More

  • Who is today’s homebuyer and why are they buying?

    Nesbitt Realty 703 765 0300
    The National Association of Realtors recently did a study about the characteristics of home buyers. Some of the findings might surprise you. Thirteen percent of buyers purchased a home with one or more parents and grandparents together with adult children. There were several reasons given for purchasing a multi-generational home. Cost savings; Children over the…

    Read More

Homes Near Open Spaces Command Big Bucks

A Colorado State University (CSU) study looked into home prices in conservation developments, where residential real estate is limited and usually 50 percent to 70 percent of the land is set aside as open space.
ducks
Ducks walk on the land off the George Washington Parkway next to the Potomac RIver
The research shows that home buyers are willing to pay a premium to live near such open, undeveloped tracts. Sarah Reed, co-author of the study, and her colleagues compared 2,222 home sales in five counties throughout Colorado between 1998 to 2011. The conservation developments designated an average 64 percent of land as open space, while traditional rural subdivisions allocated just 4.9 percent. The study found that homes in conservation developments sold for 29 percent more than properties located in conventional residential projects. Furthermore, increasing lot size in an undesignated conservation development hiked the market price by 38 cents per square foot, the report found. In nonconservation developments, a larger lot size translated to just 9 cents per square foot. The study was funded by the National Association of REALTORS® and CSU's School of Global Environmental Sustainability. Source: “Why Homes With Open Space Command Big Bucks,” The Wall Street Journal (May 3, 2013)
$address
See Homes in Alexandria
Explore homes in Alexandria
$address
See Homes in Arlington
Explore homes in Arlington
$address
See Homes in Fairfax County
Explore homes in Fairfax County

  • Are You Seeking A 5 Bedroom Detached Home For Approximately $1,450,000?

    If you need more details, Will Nesbitt can show you exactly what $1,450,000 can buy you in 22207 today. If you are seeking a mid 20th-century 5 bedroom detached home for approximately $1,450,000, your choices might be limited right now. 2407 N Rockingham St might be the best selection for you, but we have various…

    Read More

  • 2407 N Rockingham St Is A 5 BR Home In The Neighborhood Of A Metro

    I am a veritable sage on luxury homes around East Falls Church Metro Station in 22207 . This slate of homes starts with a 1,900 sqft. detached home with 3 full baths and 0 half baths.

    Read More

  • Have you visited Fort Ward Museum and Historic Site?

    Fort Ward Park
    Fort Ward is the best preserved of the system of Union forts and batteries built to protect Washington, DC during the American Civil War (1861-1865).

    Read More

  • FROGS: History of Green Spring Gardens

    FROGS (Friends of Green Spring) is dedicated solely to the support of Green Spring Gardens, a unique Fairfax County (Virginia) Park Authority site.  A gem of a public garden and historic site, the garden's 31 acres offer a multitude of settings, features, and programs to inspire and educate gardeners, provide a place for quiet contemplation for…

    Read More

  • Residents Protest Fairfax County Gun Ban

    A group of Fairfax County residents gathered Sept. 19 at the Dyke Marsh Wildlife Preserve for what was billed as an open carry hike along the Mount Vernon Trail in protest of the recent Board of Supervisors vote to ban guns on public property.

    Read More

Home Ownership Rate Drops to Lowest Point in 18 Years

The U.S. home ownership rate has fallen to its lowest point since 1995, the Census Bureau reports. US Census Bureau The home ownership rate dropped to 65 percent in the first quarter, down slightly from 65.4 percent a year earlier. Housing analysts say tight credit conditions, constrained inventories of for-sale homes, and an increase in single-family rental homes have caused the home ownership rate to fall. Paul Diggle, a property economist for Capital Economics, says he predicts the home ownership rate will likely fall for the remainder of the year. The home ownership rate peaked in June 2004 when it stood at 69.2 percent. Source: “U.S. Homeownership Rate Falls to Lowest Since 1995,” Bloomberg News (April 30, 2013)  

Home Contractor Scams a Growing Concern

Home contractor scams are often on the rise in the spring, and home owners should take steps to make sure they aren’t duped. The scams often target the elderly, with scammers offering to complete yard or household work for money up-front and then never completing the work after the payment is collected. Or, contractors may complete the work but then attach a higher price than was originally agreed upon. Several reports of home contractor scams across the country have surfaced in recent weeks. For example, a 77-year-old man in the Philadelphia area was reportedly scammed into paying for a roof repair, which he later discovered was completed using a useless, tar-like substance. In another case, an 83-year-old woman paid a contractor $4,300 and then never saw him again. "In many cases, we see a person posing as a licensed or reputable contractor, and all checks out until the first payment is made to begin the job, and then the subject disappears,” says Tom Burnett, a spokesman for Wymoo International, a detective agency based in Jacksonville, Fla. “We see fake business cards and web sites being used, and criminals can assume the identity of a real contractor, register a company or use an alias. The goal is always the first payment." Burnett recommends contacting the Better Business Bureau to check for any complaints against the company or contractor, asking for references and then actually contacting those references, and asking for the contractor’s license number to verify with your state’s Department of Professional Regulation or the contractor’s state license board. "If someone offers to do a really quick job on your house for a really low price, and it sounds too sound to be true, it probably is,” says Amy Matthews, a spokesperson for Home Advisor, an online site that matches home owners with licensed home contractors. Source: “How to Spot a Home-Contractor Scam,” U.S. News & World Reports (April 24, 2013)

  • Julie Nesbitt

    Julie Nesbitt
    Julie Nesbitt knows the back trails and by-ways of Northern Virginia real estate.

    Read More

  • Enjoying Winkler Botanical Preserve

    We had a great time walking the trails. 

    Read More

  • Don’t take chances with real estate.

  • REDUCED: 7202 Churchill Rd, McLean

    Open House, Sunday, 1-4 BIG PRICE DROP! 7202 CHURCHILL ROADMcLean, VA 221016 Bedrooms5.5 Bathrooms6,752 SF $1,695,000

    Read More

  • Good Shepherd Housing and Family Services

    Fairfax County
    Established in 1974 with a mission to reduce homelessness, increase community support and promote self sufficiency, the Good Shepherd Housing and Family Services is operated by a multi-denominational board of directors and staff managing over 70 housing units. Good Shepherd Housing and Family Services is located in the Mount Zephyr Business Center at 8305 Richmond…

    Read More

 

House Flipping Staging a Comeback?

More Americans are once again on the hunt to snag a home at bargain prices, fix it up, and then try to resell it for a quick profit. Home flippers mostly vanished from the market during the housing downturn a few years ago. But with home values inching up, flipping is coming back. RealtyTrac says flipping increased for the second year in row, rising a slight 0.33 percent in 2012 from 12 percent in 2011. The company defines flipping as buying and selling a property within six months. RealtyTrac reports the average gross profits for these types of transactions was $37,375 in 2012. According to the company, some of the best places to flip homes in 2012 were Orlando, Fla.; Richmond, Va.; Tucson, Ariz.; and Charlotte, N.C. For example, homes flipped in Orlando were purchased for $100,397, on average, and then for $174,895 — earning a gross profit, on average, of nearly $75,000, RealtyTrac reports. Investors are showing signs of being more cautious with flipping than they were during the housing boom. More investors are coming in with all-cash deals to purchase the homes. They also are holding onto the properties longer than they once did. On average, the flipping time from purchase to resale stands at about 106 days today, according to RealtyTrac. "That seems to be the sweet spot for a profitable deal," says Daren Blomquist, vice president at RealtyTrac. "Back in the housing bubble, many flippers were solely relying on price appreciation, sitting back and selling for big profits within a month or two." Source: “The New Rules of House Flipping,” Reuters (April 18, 2013)

Properties in

$address
See Homes in Alexandria
Explore homes in Alexandria
$address
See Homes in Arlington
Explore homes in Arlington
$address
See Homes in Fairfax County
Explore homes in Fairfax County

  • Julie Nesbitt

    Julie Nesbitt
    Julie Nesbitt knows the back trails and by-ways of Northern Virginia real estate.

    Read More

  • Enjoying Winkler Botanical Preserve

    We had a great time walking the trails. 

    Read More

  • Don’t take chances with real estate.

  • REDUCED: 7202 Churchill Rd, McLean

    Open House, Sunday, 1-4 BIG PRICE DROP! 7202 CHURCHILL ROADMcLean, VA 221016 Bedrooms5.5 Bathrooms6,752 SF $1,695,000

    Read More

  • Good Shepherd Housing and Family Services

    Fairfax County
    Established in 1974 with a mission to reduce homelessness, increase community support and promote self sufficiency, the Good Shepherd Housing and Family Services is operated by a multi-denominational board of directors and staff managing over 70 housing units. Good Shepherd Housing and Family Services is located in the Mount Zephyr Business Center at 8305 Richmond…

    Read More

 

For Housing Confidence, Millennials Lead the Way

Stuart, Aubrey and Kim
Millienials see a bright future.
They might be thought of as a nomadic generation unwilling to settle down, but a recent study by Prudential Real Estate reports millennials are more confident than any other age group that the real estate market will soon recover. “There was a lot of negativity when all the problems in real estate were happening,” says Earl Lee, president and CEO of Prudential, “but this generation was either too young or too preoccupied with school at the time to notice.” According to the study, real estate market confidence declines steadily for each successive age group. Eighty percent of 25-to-34 year olds have confidence in the market’s future, compared with 73 percent of 55-to-64 year olds who believe real estate is rebounding. “Gen X and Gen Y are not as clued in to some of the troubles their parents have gone through in exactly the same way,” Lee says. As these younger would-be home owners enter the workforce and interact with others who own property, their desire to purchase a house increases, he adds. This could translate into a significant spike in home sales among millennials, which would be good for themselves and the communities where they put down roots, Lee says. "All of the monumental events that happen in a young person's life start to focus them on real estate and what it has to offer," he says. "These young generations are now all about local involvement, and what better place to do that than in a community where you own a home?" — Melissa Kandel, REALTOR® Magazine

  • Help With Down-Payment For First-Time Buyers For A Residence In 22304 In Alexandria

    Are you planning to buy a modest nice condo like this condo at 4862 Eisenhower Ave #164? Considering purchasing a home? Okay. Please rely on a professional like Nesbitt Realty to help.

    Read More

  • First-Time Home Buyer Credit In The City Of Falls Church

    Do you want a little help to purchase a $1,250,000 5-bedroom home in 22046? Has the time come to buy a your first home? Good. Nesbitt Realty am a resource that can assist.

    Read More

  • Does Nesbitt Realty Offer A Down-Payment Assistance For First-Time Home Buyers Of $28,428 On 8417 Brookewood Ct McLean VA 22102?

    Attaining your first home is an exciting milestone, and it's likely the biggest purchase you'll ever make. So don’t jump into it without doing your homework. You can count on a personable ace like me to assist.

    Read More

  • Can A First-Time Buyer Get A Rebate On A Luxury Detached Home Like 2510 N Columbus St?

    Attaining your first home is an exciting milestone, and it's likely the biggest purchase you'll ever make. So don’t jump into it without doing your homework. It's Nesbitt Realty's job to help. Do you want a very large luxury place in 22207 in Arlington County?

    Read More

  • Help With Down-Payment For First-Time Buyers In 22015 In Fairfax County

    Has the time come to purchase a a home? Alright! Nesbitt Realty is available help. Are you planning to buy a sprawling mid-market interior row/townhouse like this striking interior row/townhouse at 9514 Draycott Ct?

    Read More

first-time buyer
Nesbitt Realty helps first-time home-buyers realize their home-buying dreams.

Home Owners Want More Color in Their Houses

Seventy-four percent of home owners say they want more pops of color in their houses, according to a nationwide survey conducted by Sherwin-Williams. Twenty-nine percent of home owners surveyed say the living room or family room are the areas of a home that they're most looking to spice up with color, according to the survey. Nineteen percent of respondents said they want a more colorful bedroom, and 10 percent said the kitchen. While grays and beiges are still the most popular choices, more home owners are reaching for colors like burnt orange and baked clay as well. They're also showing more willingness to incorporate pops of color in social areas of the home “because it’s an environment you want to feel energetic in,” says Jackie Jordan, director of color marketing for Sherwin-Williams. About 39 percent of home owners say the artwork is the most colorful element in their homes, not their walls. However, 23 percent of home owners polled cited the walls as the most colorful element in a home, making it the second most-popular response in the survey. Source: “Bright Ideas for Colorful Homes,” The Wall Street Journal (April 15, 2013)

  • Map Of New Constructions For Sale In Northern Virginia

    For a few purchasers, only brand new will do. If that's you, I know the local real estate market.

    Read More

  • Map Of New Constructions For Sale Around The Beltway

    For a few home buyers, only newly constructed will do. If you're trying to find a recently-built home, I'm your whiz on newly constructed homes in Northern Virginia.

    Read More

  • Map Of New Homes For Sale Around The Beltway

    For collected shoppers, only newly-built will do. If you want to acquire a new residence, I know the local real estate market.

    Read More

  • Are You Looking For A Local Agent To Help You Find A New Home?

    For a few purchasers, only new will do. If you want to purchase a brand new residence, I know the local real estate market.

    Read More

  • Map Of Newly Constructed Residences For Sale In Northern Virginia

    For some home shoppers, only new will do. If that's you, I know the local real estate market.

    Read More