Historical Wargames: Just For Fun

One of my interests has always been history and military history. As a part of that interest, I enjoy playing wargames to better understand why commanders made the decisions they made. I also enjoy the camaraderie of good friends and folks who share similar interests. For more information or to set up an appointment call Nesbitt Realty at (703)765-0300.

A trip to the White House Rose Garden

A friend gave us ticket to a visit to the White House Rose Garden this weekend, so Julie and I took the Metro into DC. Despite having been born and raised here, I'd never gone to the White House before. We took this opportunity to enjoy a nice Spring day and enjoy some of the sites of DC. If you're thinking of buying or selling real estate in Northern Virginia, we hop you consider Nesbitt Realty. Call us at 703 765 0300.

Alexandria’s Best Real Estate Deal … EVER

Art Festival
Art Festival in Old Town
In 1669 John Alexander bought the land that became Old Town from an English ship captain. John Alexander paid the tidy sum of 6,000 pounds of tobacco. Almost twenty years later, the town of Alexandria was formally established in 1749. Today, visitors, tourists and travelers alike come to Alexandria VA to taste the quaint colonial and historical feel of this city not far from Washington DC. It's a place frequented by historical figures like George Washington and Robert E. Lee. Even for those like me, who were born in Fairfax and who have lived for many years in Alexandria, one never tires of the rich heritage of Alexandria. Maybe that's because there's always something to do in Alexandria. A bike ride or a stroll along the Potomac Waterfront is pleasant, or perhaps a boat ride on the river. There are more than a hundred restaurants in Old Town
cherry blossom
Cherry Blossom sternwheeler
alone. Standard favorites such as seafood, steak or Italian are here, as well as ethnic cuisine from around the world. For a taste of the colonial try Gadsby's Tavern, where George ate. Alexandria is easily accessed by Metro and free trolley. The King St. trolley passes antiques shops, art galleries, boutiques and shops.  Take a walking tour of Alexandria, or visit the Ramsay House to get a feel of Old Town. With the new US Patent & Trademark Office, Alexandria's proximity to the Pentagon and DC and it's easy access to Fort Belvoir and Bowling AFB, every day more people discover why this is such a great place to live and work. I work, play and live in and around Alexandria VA. I'd love to help you find a place but doubt I can top the deal that John Alexander got when he paid 6,000 pounds of tobacco for his homestead. Today, that much tobacco might set you back $9000!
Patent & Trademark Office
USPTO in Autumn
The good news is that 6,000 pounds of tobacco will cover your closing costs for most condos in Alexandria!

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For more information or to set up an appointment call Nesbitt Realty at (703)765-0300.  

Oronoco Bay Park

Oronoco Bay Park is a 4.5 acre Alexandria City park is located on the Potomac River at 701 North Lee Street. It has many entry points, the most obvious of which are at either the Madison or Pendleton Street entries or from the Wythe Street Plaza. The plaza entry is approximately in the center of the park, and there is also a sidewalk entry with trees and turf area between the Sheet Metal Workers of America building and the United Way building.

Oronoco Bay Park
Oronoco Bay Park
The park was once known as "Texaco Bay" and before that it was owned by Standard Oil Company which was owned by John D. Rockefeller; however, the City acquired the property (and changed it to Oronoco Bay Park) in the early 1980's. Historically, the Alexandria area was inhabited by Indians when Captain John Smith sailed up the Potomac in the mid 17th Century. The park hosts several festivals and events including the annual "Red Cross Waterfront Festival"---the largest Red Cross fund raiser in the United States. Private concerns may reserve and rent the park for their events as well.
Oronoco Bay Park
walking path along the Potomac Oronoco Bay
This park is part of the linear park system along the Potomac. People can walk, jog or bike along the river path and enjoy the many sitting and picnic areas. There are wooden sun decks out into the river and a wooden boardwalk path that connects the path to the point where the bay and river meet near the Rowing Facility building.
Old Town Alexandria waterfront
Old Town Alexandria waterfront at Oronoco Bay
For more information or to set up an appointment call Stuart at (703)765-0300.  

I-395 / Roadway to the Heart of DC

highway
I-395 in Arlington VA near the Pentagon and Crystal City.
Interstate 395Interstate 395 doesn't have Metro train service but it carries a massive load of traffic none-the-less. In addition to its 8 to 10 lanes of traffic, 395 has an extra 3 lanes of HOV that switch direction depending on the hour of the day. 395 leaves DC between the Pentagon and Crystal City (both in Arlington) and on the way out to I-95 and the Beltway at Springfield, I 395 passes Shirlington, Landmark, East Falls Church and other neighborhoods. Traffic on 395 is nearly always heavy but only slows during rush hour. Along the I-395 Corridor:

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Sunrise over the Potomac

Here's a great picture and story from a client who purchased a home near the Belle Haven Marina in Fairfax County VA.
Sunrise over the Potomac
Sunrise in Early Spring near New Alexandria along the GW Parkway in Fairfax County VA
The sunrise over the Potomac this morning! If I could tell myself a year ago, or even a few months ago that I would be running 3 miles every day at sunrise, I probably would have laughed at the idea, eaten a cookie and then taken a nap. But here I am! One week from Saturday doing my first 5k! --- Holly L.
Would you like to live here too?

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Agency disclosure questions …

A couple of quick nuggets of trivia for those who are interested in real estate agency law in the Commonwealth of Virginia.
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Nesbitt Realty is licensed in Virginia.
Pat is a licensed agent in the Commonwealth of Virginia who sells, rents and manages real estate for others for a fee. Pat contacts a homeowner named Al in an attempt to obtain a listing for Al's property. When must agency disclosure be provided to the Al and his wife Jane? Agency disclosures must be made when there are substantive discussions about a specific property. In this case, agency disclosures must be made at the time the Al and Jane agree to list the property because there will be substantive discussions when or if the seller agrees to list. Tom is Pat's broker. A prospective buyer named Omar enters Tom's office.  Omar is directed into the conference room. Tom sits down and discusses finances with Omar to financially qualify the buyer. Tom then hands Omar off to Pat. Omar and Pat begin to review the available property that is within Omar's financial limitations and also meets the wants and needs of the buyer.

When is the agency relationship disclosed?

When Omar expresses an interest in a particular piece of property, agency disclosure is required. This is correct because Virginia regulations state that disclosure is required before substantive discussions about a specific property. For more information or to set up an appointment call Nesbitt Realty at (703)765-0300.

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Basic Condo Selling Tips

It should be obvious, but start by choosing a selling agent that cares about you and your condominium. The agent you choose should also understand the benefits and challenges of the condominium lifestyle.
Halstead
Halstead at the Meto
An agent who has never lived in a condo or owned property in a condo might not appreciate the benefits of life without guttering, lawn care or exterior maintenance issues. Your Condo Alexandria agent knows how a condo community functions and just how great it is to own a condominium. A Condo Alexandria agent understands why some units are more than others. A Condo Alexandria agent can help others understand what a great view you have or how nice it is to be close to the parking lot. Each condo has its own benefits. We find your unit's benefits and make them obvious so that the buyer who wants your condominium can find it.

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For more information or to set up an appointment call Nesbitt Realty at (703)765-0300.
Northern VA real estate agents
Nesbitt Realty sells real estate, fine homes & condominiums in Northern Virginia

Finding the right condo

I met a potential client who told me that she had been looking for two years for a condo.  She called me because she wanted to see a particular property in Belle View.  After establishing that she didn't have an agent, I showed her Belle View.   I practically had to drag her to see a property I thought she would like based upon her input. That property was Montebello, and she absolutely loved it and was amazed because she wouldn't have had a clue that Montebello existed if it wasn't for me.
exterior with shuttle
Shuttle bus
A few days later, she wanted me to tag along to another property that she had found at my property search site.  That prompted me to "set the record straight" with some frank talk. Obviously, I would love the opportunity to be of service to her. I appreciate and value each client and always need one more client. But there are limits to what I can and will do and this is for the protection of both the client and myself. When I take on a client it is because I know I can add value to my client's end of the transaction.  I add value by finding right property at the right price. As I have demonstrated to her and others, I know the condos of Northern Virginia very well. Additionally, I can be a pretty tough negotiator when the time calls. Thus, if a client allows me to represent him or her, I think it's important that I go with the client whenever the client views properties (with the possible exception of open houses).  So, to answer her first question, of course I want to go with a client when a client has interest in a property.  But, when I see someone who has been looking for two years, three years, and has probably burned through a couple of agents who threw their hands up in frustration, I think it is important establish a few facts. There are two primary reasons why a buyer takes a long time to select a property:
  1. The buyer either has unrealistic expectations; or
  2. The buyer does not have clearly defined goals.
When expectations are unrealistic, the best thing that I can do as an agent is to apprise buyers of reality and wish them well in their search. This is not because I'm a tough guy, but rather because it would ruin me a professional to chase the impossible. To use a metaphor, maybe bigfoot exists.  I've heard that people saw him.  But if I made my living as a game hunter, I'm not going to spend my time (the only thing I really have) trying to catch bigfoot.  I'll wish you well if you are looking for bigfoot, but I'll stick to game that I pull from the forest every single day. In this case, the buyer had a reasonable assessment of reality but she didn't really know what she was looking for. In other words, she didn't have clearly defined goals. The client's method for finding a condo was simple: she randomly searched the Internet and other media to identify prospects. She then visited the potential location and then moved on to something else. That method will use up a lot of time and energy.  I'm not saying the random selection method NEVER works, but in this case the client had already spent two years and hadn't found the right property. Obviously, a buyer needs to see some properties to get an idea of what is available.  But what doesn't make sense is to randomly shop units to find what you want.  Northern Virginia (Arlington, Alexandria, Fairfax County) is a huge metropolitan market. There are so many condominiums in Northern Virginia that a person won't be able to see them all. (Unless like me, the only thing you do is look at condos all day.) I told this client gently but firmly, what I thought made the most sense. I told her the truth.  That is, instead of the client leading me around and letting me open doors so she could find a condo, I would play the part of the expert. As an expert, I would asked pointed questions and listen carefully to her replies. In this way, we can define exactly what it is that the buyer is looking for.  Then, after we have established the goals, then it makes sense to begin touring the selections that I recommend. With each condominium we visit, I'll learn more about her needs and we'll get closer to the property that this client will eventually buy.
  1. Define goals.
  2. Refine goals.
  3. Buy.
Simple, effective and good for the client and the agent.

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For more information or to set up an appointment call Nesbitt Realty at (703)765-0300.

When is a condo a bad investment?

Marco:  Question for you--if you had a choice between investing in a small house, or investing in a condo, which one would you choose? Will Nesbitt: As a rental, I might do a condo, if it's a well-managed association, because there are few hassles. But it's more complicated than that. Feel free to call me if you want to download the full lecture. Marco: Here's the situation: My parents are retiring and need a place to live. They'd like to live in Northern Virginia. They have a sizable down payment but bad credit, so we have offered to buy them a little house. We're somewhat limited in what we can get because of Mom's health issues---they need a place that has at least 2 bedrooms, 2 baths, all on one level and wide hallways because she will eventually be in a wheelchair. I think they'd be happier in a house because they haven't lived in an apartment ever. But we're having a hard time finding the "right" house and they're on a deadline to move out of the parsonage they're in. They were looking at a condo in an outlying suburb, but Paul doesn't want to buy a condo. He doesn't feel like it will keep its value. Will: That's something that comes up from time to time when you talk about purchasing a condo.  There are no hard and fast rules that apply to all condos everywhere, but I'll share a few of the lessons of my experience.
MLS
Why are you buying a condo? The Location or tbe price?
Location. Yes, we've all heard "location, location, location" when it comes to real estate, and of course most of what you've heard is probably true.  But here's my take on it when it comes to valuing a condominium property: if the property is in a highly desirable location the property will hold its value.  There are only so many places to live within walking distance of a Metro in Northern Virginia.  Until the day people stop using the Metro those properties will retain a measure of demand.  Condos on the perimeter, condos at the periphery, condos that entice the buyer with a low price, won't keep pace with increases in other communities and worse yet, can lose value.  So ask yourself is, is the appeal of this condo that has a fantastic location or is the appeal that the condo is cheap? Lesson: If the price and not the location is the primary driver in the purchase, then this condo might not be a good investment. Management. Condos are managed by an all-volunteer board of directors elected by the community. Some boards are thoughtful, logical, practical and deliberate.  Some boards are incompetent, petty, well-intentioned or corrupt.  Take a hard look at the condominium documents before you buy your condominium. If you see that the board has repeatedly directed large amounts of funds to the same contractor you might want to dig a little deeper.  If you see that the board has repeatedly spent money on frivolous expenses, that might give you reason to pause.  If the board has just authorized a large contract for debt to pay for bills the association cannot afford, that might give you reason to move on to the next opportunity. Lesson: The condominium management can make or break the community. Condo Fee. Let's start with this premise: every property owner everywhere pays a condo fee.  This is true once you realize that utilities and building maintenance are condo fees. An owner of a single-family home might pay zero condo fees for 10 months and then pay a $15,000 condo fee for a roof repair.  But a well-managed condo association puts money in reserves to prepare for future problems when they arise.  A condo owner doesn't get bogged down in details of property management, but a home owner usually spends money more efficiently than a democratically elected board. Lesson: Condo fees are not a problem.  Poor management of maintenance and utilities is a problem no matter if you have 1 member or 1500 members in your association. Bottom Line. "Location. Location. Management." If your property is located in a less than desirable neighborhood, don't expect the property to appreciate. (That doesn't means the property is a bad-buy for you or for some people, it just means don't count on appreciation from this investment.) You can minimize your exposure by picking properties that are in highly desirable locations, even if they are smaller or more costly per square-foot. But when it comes to condos, property management is almost as important as location.  A poorly management property can deteriorates or can have high condo fees, or worst of all, a poorly managed property can have both a poor condition and high fees.  Nothing will kill your value faster than condo fees which are not justifiable. You can minimize your exposure to the risk of management incompetence by purchasing in condominiums with minimal amenites, no elevators, common areas that are open to the elements, etc. Northern Virginia is a part of the National Capital Region it is home to some of the most educated, affluent and particular buyers in the nation. Everyday we help folks relocate in and out of Northern Virginia as well as help locals advance their real estate goals. If you're shopping for a home in Northern Virginia, you will find our Buyer's Guide to Northern Virginia Real Estate is a great resource for understanding the area and for seeking out the perfect real estate match for your tastes and budget. If you need any help with a specific search please don't hesitate to call us at (703)765-0300. [What makes us different!] For more information or to set up an appointment call Nesbitt Realty at (703)765-0300.