Will is the principal broker of Nesbitt Realty and Condo Alexandria. He is licensed in anywhere in the Commonwealth of Virginia, but focuses on those communities found in and around Alexandria, Arlington, Mount Vernon and Springfield/Franconia.
Will has been involved in real estate management, sales and investment for more than twenty years. He is a veteran of the U.S. Army. While in the army, he studied Russian at Monterey's Defense Language Institute. He is also a "veteran of the dotcom wars" and built most of the sites associated with NesbittRealty.com
Will currently resides in Belle Haven Estates just outside Old Town, overlooking New Alexandria. He is a former president of the Mount Vernon Youth Athletic Association and founded the Alexandria Fun with Friends Group. Will is the author of BattlestorM, a tabletop fantasy game, which was published by Ral Partha Publishing in the late '90's, and Arthur's Realm, a boardgame available at the Gamecrafter.
Northern Virginia has several independent cities and the City of Alexandria is one such independent city. The City of Alexandria borders Fairfax County, but the City of Alexandria is not in Fairfax County. Fairfax County is not in the City of Alexandria. However, there are large parts of Fairfax County that have an Alexandria postal address. The Alexandria area which is outside of the City of Alexandria can be roughly categorized into the following areas:
For real estate in Alexandria VA contact Nesbitt Realty
Lower Alexandria — so-called because the area south of Old Town Alexandria is downriver from Alexandria. (Lower Alexandria is sometimes called “South Alexandria”.) Lower Alexandria includes the Fairfax County Districts of Mount Vernon and Lee.
Franconia — Franconia is mostly in Lee District. Some residents of Franconia have a Franconia address but many homes in Franconia have an Alexandria address. Rose Hill is one of many communities in and around Franconia
Alexandria West — Not to be confused with West End Alexandria (which is in the City of Alexandria), Alexandria West includes many inside the Beltway but outside the City of Alexandria residences such as the homes of Bryn Mar.
Here's an interest local tidbit for newcomers. Fairfax County surrounds the City of Fairfax. Locals generally refer to the county as “Fairfax County” and the city as “Fairfax”, but Alexandria uses the opposite nomenclature. “Alexandria” generally refers to whole of the Alexandria area, while “City of Alexandria” refers to the jurisdiction of the City of Alexandria.
With home values falling over the past few years, some buyers are seeing a great opportunity to buy their retirement home now instead of waiting until they retire years later.
For example, in one of the largest retirement areas in the nation — Century Village in Boca Raton, Fla. — the average age of a new home buyer has dropped from the mid-70s to the low 60s in the last year. Charlie Rocque, 56, may not be ready for retirement but he already bought his retirement apartment there for $20,000 (though it was valued at around $75,000).
"People are looking at this in terms of their long term future," Ben Schachter with Century Village Real Estate Inc. told CNBC. "They recognize that with the time value of money they are better off investing now, taking advantage of 20, 40, $60,000 price points, because if they look back just a half a decade ago, prices were 3-4 times what they are now. They're looking at the market as it increases, as the economy is strengthening, and they want to buy now while it's the best opportunity to do so."
Younger investors also may even rent out the property until they need it years later for their own retirement.
Source: “Younger Buyers Jumping Into Retirement Real Estate,” CNBC (March 25, 2013)
Julie Nesbitt
Julie Nesbitt knows the back trails and by-ways of Northern Virginia real estate.
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…
Some would-be move-up home sellers are eying home prices carefully. They’re waiting to see how much home prices appreciate more before they consider selling their home. But they may be missing their perfect opportunity, some housing experts say.
The best time to move may depend on when the home owner purchased their current residence, says Daren Blomquist, vice president of RealtyTrac. Blomquist says that home owners who purchased their home during the sluggish market the last two to three years may find moving up in 2013 may be their prime opportunity.
"Because they bought near the bottom, these home owners should have built up some good equity that can go toward the purchase of a new home, and waiting longer to build more equity likely won’t provide much advantage given that other homes that they might want to move up to will also be appreciating at roughly the same pace," Blomquist told HousingWire.
Home owners who wait much longer to sell their home may miss out.
"If you're selling one house just to move up to another, it does you no good to wait for prices to rise — the price of the move-up home will increase faster than the price of the place you're leaving behind," says Redfin CEO Glenn Kelman.
Plus, mortgage rates are expected to come off the 3.5 percent range and reach 4.4 percent in the next year, according to the Mortgage Bankers Association. That will increase the costs of financing your next home.
Source: “The Time to Sell Is a Waiting Game for Some,” HousingWire (March 21, 2013)
5 Sure Signs That Its Time To Sell Your Home
When should I sell my home? This is not always the easiest question to answer. A lot of people don't plan on living in their first, second, or even third home forever, but still knowing when to let go and move on can be tricky. It can feel like ending a long term relationship, it's…
6 Budget Tips For Staging A House To Sell In Arlington
If you are trying to land a great deal for your property in Arlington, then you can't afford to overlook home staging. You'll want to hold a terrific open house- one that leaves the attendees entranced. And the good thing is, you can do that without having to break the bank.
Staging Hints For Sellers With A Place At Stratford On The Potomac In 22308
Are you planning to list your residence? A home that isn’t staged may sell if properly prices. On the other hand, a staged place of residence will sell faster and for more money. What steps can you take now to sell your split foyers-style house in a Split Foyer-style community?
If you're thinking of hiring a builder for custom work, here are some points to consider:
Hire a good real estate attorney who has experience with new-construction contracts, knows state law, and is familiar with the issues unique to the area in which the property will be built.
Talk to other customers. Ask how satisfied they are with the builder and how his projects have held up over time.
Investigate. Search the builder’s name and company online and make sure that there aren’t lots of complaints about him.
Expect him to negotiate. In this market, a potential customer should be able to expect that a builder will be flexible.
Are you looking for new construction in Northern VA?
Owner financing can help sell a property in this challenging market.
Banks generally are willing to accept rent credits for an option to buy as an acceptable down payment, but both buyers and sellers must follow these guidelines for Fannie Mae and Freddie Mac to sanction the transaction.
The rental amount must be determined by a property appraisal with the credit for the down payment clearly calculated as the difference between market rent and actual rent paid for 12 months. For instance, if market rent is $1,000 and rent paid is $1,200, $200 could be credited monthly toward the down payment.
The rent/purchase agreement must be for a minimum of 12 months. The contract must clearly specify a rental amount as well as the portion to be credited toward the purchase.
The buyer will need copies of canceled checks or money order receipts for 12 months, proving rental payments to persuade the bank to credit the funds toward the down payment.
For more information or to set up an appointment call Nesbitt Realty at (703)765-0300.
Stuart Nesbitt, a chip off the old block
The recent rises in asking prices has been outpacing the increases in rents, but home buying still may make more financial sense, a new study shows. Owning a house was found to be 44 percent cheaper than renting, according to the latest study from Trulia that compared the costs of the two.
The study found that owning is less than half the cost of renting in 46 of the 100 largest metros. “Buying a home is cheaper than renting in all of the 100 largest metro areas,” according to Trulia.
Falling mortgage rates are helping to keep home buying more affordable. But depending on where you live, the difference between owning versus renting can be big or small. For example, in San Francisco, home ownership was found to be 19 percent cheaper than renting, whereas in Detroit owning a house is 70 percent cheaper than renting.
Source: Trulia Trends
King Street Metro Station
“Location, location, location near public transportation” may be the new real-estate mantra according to a new study released today by the American Public Transportation Association and the National Association of REALTORS®. Data in the study reveals that during the last recession, residential property values performed 42 percent better on average if they were located near public transportation with high-frequency service.
“When homes are located near public transportation, it is the equivalent of creating housing as desirable as beachfront property,” APTA President and CEO Michael Melaniphy said. “This study shows that consumers are choosing neighborhoods with high-frequency public transportation because it provides access to up to five times as many jobs per square mile as compared to other areas in a given region. Other attractive amenities in these neighborhoods include lower transportation costs, walkable areas, and robust transportation choices.”
“Higher home values reflect greater market demand for areas near public transportation,” said NAR Chief Economist Lawrence Yun. “Transportation plays an important role in real estate and housing decisions, and the data suggests that residential real-estate near public transit will remain attractive to buyers going forward. A sound transportation system not only benefits individual property owners, but also creates the foundation for a community’s long-term economic wellbeing.”
The study, The New Real-Estate Mantra: Location near Public Transportation, investigates how well residential properties located in a half-mile proximity to high-frequency public transportation or in the “public transit shed” have performed in holding their value during the recession compared to other properties in a given region.
While residential property values declined substantially between 2006 to 2011, properties close to public transit showed significantly stronger resiliency. In Boston, residential property in the rapid-transit area outperformed other properties in the region by 129 percent. In the Chicago public transit-area, home values performed 30 percent higher than other homes the region; in San Francisco, 37 percent higher; Minneapolis-St Paul, 48 percent; and in Phoenix, 37 percent.
“Stable property values in areas with public transit access have a number of policy implications,” Melaniphy said. “As Congress and state and local governments look for ways to accelerate economic growth, this study shows that investing in public transportation is a boon to revitalizing our economy.”
“When consumers choose a home, they also choose a lifestyle. Shorter commutes and more walkable neighborhoods matter to a growing number of people, especially those living in congested metro areas,” Yun said.
Source: NAR
Julie Nesbitt
Julie Nesbitt knows the back trails and by-ways of Northern Virginia real estate.
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…
With inventories at 13-year lows, real estate professionals are getting creative in trying to convince home owners to sell.
Julie sold another!
“There’s such little inventory that my joke is it’s like the last shrimp at the buffet at a cocktail party and everyone’s jumping on it to try and get to it,” Boston-area real estate pro Ken Snyder told American Public Media.
Snyder has been posting stories on his social networks about how he’s getting six or seven offers on properties from the high buyer demand, but then adds “Sellers, hello? Where are you?!” His messaging is working. Owners who had been renting a loft saw his Facebook post and decided to sell after all.
To try to get more listings, some real estate professionals are also holding first-time home-seller seminars. And real estate professional Gary Rogers says he’s been writing personal letters to sellers.
But real estate professionals say that many owners fear selling because they’re scared that once their home is sold they won’t then have any place to move to due to the low inventories.
Source: “Realtors Ask: ‘What can I do to get you OUT of that House?” American Public Media (March 20, 2013)
5 Sure Signs That Its Time To Sell Your Home
When should I sell my home? This is not always the easiest question to answer. A lot of people don't plan on living in their first, second, or even third home forever, but still knowing when to let go and move on can be tricky. It can feel like ending a long term relationship, it's…
6 Budget Tips For Staging A House To Sell In Arlington
If you are trying to land a great deal for your property in Arlington, then you can't afford to overlook home staging. You'll want to hold a terrific open house- one that leaves the attendees entranced. And the good thing is, you can do that without having to break the bank.
Staging Hints For Sellers With A Place At Stratford On The Potomac In 22308
Are you planning to list your residence? A home that isn’t staged may sell if properly prices. On the other hand, a staged place of residence will sell faster and for more money. What steps can you take now to sell your split foyers-style house in a Split Foyer-style community?
We can help you sell your property quickly and at the highest price possible.
Here are four things sellers should understand about today’s market to make their homes as saleable as possible:
Time and time again, we find that real estate pricing is very local. That means real estate professionals and homeowners need to closely examine comparables. We have to see what nearby properties have sold for in the past three months. We also look at the competition and what's under agreement. The bottom of the market is probably behind us, but it's hard to know how much your home will sell for today until we study trends in your home's "micro-market".
Online marketing works. Therefore it's important to get high-quality property pics online.
Don't wait for a home inspection. Fix what you can and disclose what you can't. Every home has problems, but disclosing quirks and problems builds trusts and makes selling a property go smoothly. When the buyer discovers defects, there are last-minute re-negotiations, cold feet and sometimes the deal explodes.
There is no more cost-effective marketing than cleaning your home. By "clean" we mean clean, clean, super-clean: A clean and clutter-free property makes potential buyers likely to pay more.
“Using a real estate agent is a very good idea,” says the U.S. Department of Housing and Urban Development (HUD). "All the details involved in home buying [and selling], particularly the financial ones, can be mind-boggling. A good professional can guide you through the entire process and make the experience much easier."
Selecting the right professional is the key to a successful real estate transaction. Better than working with a simple real estate agent, you’ll want the services of a Realtor®.
What’s the Difference Between a Real Estate Agent and a Realtor?
More than two million people have earned real estate licenses but only a small percentage of these are Realtors in {Location_Name}. Realtors are members in good standing of the National Association of Realtors, their state association of Realtors and a local real estate board. Realtors are held to high standards of ethical behavior and must undergo continuing education annually to remain accredited.
All agents of Nesbitt Realty are Realtors!Nesbitt Team
Julie Nesbitt
Julie Nesbitt knows the back trails and by-ways of Northern Virginia real estate.
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…
Buyer demand is rapidly rising, but the housing market is realizing they may not have the inventory to meet it.
“The housing turnaround seems to have caught almost everyone in the business by surprise,” The New York Times reports. “As desirable as the long-awaited improvement may be, the unusually low level of homes for sale is creating widespread problems for buyers and sellers alike, leading to bidding wars and bubble-like price jumps in places that not long ago were suffering from major declines.”
After years of not building, homebuilders are scrambling to ramp up production to meet demand, but they’re facing delays from the availability of lots, scarcity of qualified labor, and obtaining permits.
Meanwhile, investors have snagged foreclosures and short sales, limiting the availability of those on the market as well.
In addition, more home owners — once underwater — are seeing the return of equity again for the first time in years, but still may be reluctant to sell as they wait for home prices to rise even more. Or, they might be wary of being displaced themselves if they sell due to the sudden buying frenzy, The New York Times notes.
“You see a home go for sale and within a couple days there are three, four, six offers,” says home buyer Carrie Miskawi, who has been looking for a new home for the last six months.
Sacramento real estate agent Tom Phillips says he’s even resorted to knocking on doors of homes to see if the owners might consider selling to one of his clients.
The number of homes for sale is at its lowest level since 1999, according to the National Association of REALTORS®. But with mortgage rates still low and home prices off their peak, buyers are viewing it as an opportunity to jump in.
Source: “Sudden Rise in Home Demand Takes Builders by Surprise,” The New York Times (March 20, 2013)
Julie Nesbitt
Julie Nesbitt knows the back trails and by-ways of Northern Virginia real estate.
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…
