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Author: Will Nesbitt

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.
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Alexandria Waterfront

Foxy in the boat at Fountainhead
Foxy likes fishing!
I love living near the Potomac River in the Northern VA Area. There are lots of ways to enjoy the water here and I've experienced most all of them.  This is one of the reasons I love Belle View, Bucknell, New Alexandria, Old Town, Belle Haven and many other communities here that have easy access to the River. From Waynewood to Stratford on the Potomac there are quaint neighborhoods with great homes.

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Board of Supervisors Recommends Names for Dulles Metrorail Stations

Last month, the Fairfax County Board of Supervisors recommended names for the eight Metrorail stations that are part of the Dulles Metrorail Project. The names, which must be approved by the Washington Metro Transit Authority board of directors, are as follows:
  • Tysons-McLean
  • Tysons I & II
  • Tysons Central
  • Tysons-Spring Hill Rd
  • Reston-Wiehle Ave
  • Reston Town Center
  • Herndon-Reston West
  • Herndon-Dulles East
Each proposed station name connotes a community: Tysons, Reston, Herndon, or McLean. Some include street names while others include the name of shopping malls and a town center. The 23-mile transit line will run from Tysons to Dulles International Airport to the rest of the region, and the project comprises a total of 11 Metrorail stations, eight of which are located in Fairfax County. The stations from Tysons-McLean to Reston-Wiehle Ave are scheduled to be operational in mid-2013.

Avoid Sellers’ Worst Mistakes

Homes in Belmont Bay
Homes in Belmont Bay
In a buyer’s market, sellers have little room for error when putting their home on the market or they risk having their property linger. Sellers should take caution to avoid the following common traps, according to a recent article at MSNBC.com.
  1. Overpricing the home. Home values have dropped considerably since its peak in 2006, but sellers still are often tempted to list a home based on what they paid for it. Eventually they realize their error and have to reduce their price, sometimes several times. In the past month, 23 percent of homes listed for sale on Zillow have reduced their price.
  2. Relying too much on just comps. Size up your competition currently on the market, not just the homes that have already sold. Evaluate homes with a listing price similar to yours to see how well yours stacks up against the competitions and how you can differentiate.
  3. Failing to take into account the home’s web appeal. Photos are key when marketing a home online. Be sure to include lots of high-resolution photos of the interior, including of the areas in a home that buyers most care about, such as kitchen, living spaces, and bathrooms, experts say.
  4. Hovering during showings. Sellers certainly shouldn’t be home for showings, but as a seller’s agent, either should you. Lurking sellers or seller agents may make buyers nervous. Other real estate agents often want privacy with their buyers so they can gather true feedback about the house.
Source: “Six Common Mistakes That Home Sellers Make,” MSNBC.com (April 11, 2011)

Survey: Americans Still Optimistic About Housing

A sluggish real estate market hasn’t shaken the confidence of the public in how it views home ownership, according to a new study by the Pew Research Center. Eight in 10 adults (or 81 percent) say owning a home is the best long-term investment a person can make, according to the Pew study of about 2,000 adults conducted in March. “Home owners are not blind to what has happened to home prices, nor are they expecting a speedy recovery,” according to the Pew study. In fact, of the home owners surveyed, about half said their home is worth less now than before the recession, while 31 percent said their home’s value has stayed the same. Nevertheless, 82 percent of home owners who say their home is worth less now than before the recession either strongly or somewhat agree that home ownership is the best long-term investment a person can make, according to the survey. The value of home ownership even continues to emerge on top when home owners were surveyed and asked to rate the importance of four long-term financial goals. Home ownership and "being able to live comfortably in retirement" rated the highest--viewed as either extremely or very important by 80 percent of respondents. Yet, their optimism about home ownership doesn’t mean they're completely happy with their current home. Nearly a quarter of all home owners surveyed said that if they had it to do all over again, they would not buy their current home. Most of the “buyer’s remorse” complaints were about the home itself or its location. Only 31 percent of those surveyed cited financial factors, such as the home losing value or their own changing financial situation. Source: “Home Sweet Home. Still.” Pew Research Center (April 12, 2011)

A tour of 316 Prince St. / the Prince Street Club

Homes for sale at Prince Street Club

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Virginia Aims to Slow ‘Drive-by Foreclosures’

Virginia lawmakers are fighting against “drive-by foreclosures,” saying the foreclosure process in the state is one of the fastest in the nation and needs to be slower and have judicial review. Bills in the Virginia House and Senate will set out to slow the state’s fast foreclosure pace by increasing the time required for foreclosure notice from two weeks to 30 or 45 days. The goal is to give borrowers more time to challenge the foreclosure if needed. "We simply don't have enough time to stop a foreclosure because of the fact that it's in 10 days or seven days," Todd Condren, a title insurance lawyer from Vienna, Va., told the House Courts of Justice Committee. The bills also set out to require lenders to face court review before foreclosing on home owners. Lenders will also be subjected to fines if it's found that any foreclosure was based on fraudulent documents or documents that contained any errors. The proposed bills also will have a requirement that lenders maintain updated real estate loan records in county courthouses and give borrowers an opportunity to avert foreclosure by paying off any delinquency. Virginia’s banking lobby officials argue that slowing foreclosures and requiring updated county land record filings would just prolong the already four year housing slump. Source: “Bill Seek Judicial Review of Foreclosures in Va., Better Mortgage Ownership Records,” The Associated Press (Jan. 17, 2011)

Zipcodes of Northern VA

Sell my home now!

It's easy to sell property. The hard part is selling real estate now. When there are more sellers than buyers, properties still sell. Staging your home is important, but not so important as some might lead you to believe. Advertising your property is critical and brochures can be beneficial. Ultimately, the most important factor is to get the home in the MLS and to price the home properly. If a home is priced too high, few potential buyers will even see your house. After the home has sat on the market for a long time, buyers will expect a price drop even if the price has already dropped! For this reason it's important to price your home at a point where it will attract attention. In a tough market like the services of a good Realtor are needed more than ever. Your agent should be a hard worker who has the temperament to guide you through the process. You agent should be your advocate, actively negotiating your best deal. Sometimes this means getting top dollar. But sometimes this means know what to trade-off to get what you really want from a deal.

Selling your home quickly.

Here are a few quick tips to sell your house quickly.
  • Choose a selling agent that cares about you and your situation.
  • Price it right. Price is the biggest differentiator in a tight market. Set a price at the lower end of your property’s realistic price range.
  • Put your house in order. Your property should be ready for the market before you begin showing it.
  • Be flexible about showings. Home selling is often disruptive to daily life. And it's a lot of work to have your house ready to show on the spur of the moment. But prospects that can't see your house won't buy your house. The more often your home is shown the greater your chances of selling the property.
  • Be ready for all offers. Decide in advance what price and terms you’ll find acceptable. Don't take offense at a ludicrous offer. Respond with a counter-offer to keep the ball moving.
In addition, Will Nesbitt has devised unique strategies to overcome the buyer's market and to sell your home quickly. Ask him how he can save you money and sell your home quickly at the same time!

Net Proceeds

To find out how much money you’ll net from your house, add up your closing costs and subtract them from the sale price of the house.
Closing Costs for Sellers Mortgage payoff and outstanding interest Prorations for real estate taxes Prorations for utility bills, condo dues, and other items paid in arrears Closing fees charged by closing specialist Title policy fees Home inspections Attorney’s fees Survey charge Transfer tax or other government registration fees Brokerage commission Total

James K. Polk Elementary School District

James K. Polk Elementary School is located at 5000 Polk Avenue in Alexandria, Virginia 22304. The phone number is Tel: 703-461-4180 / Fax: 703-751-8614. James K. Polk Elementary School was built in 1965. It is located on the west side of the city and is situated on a 13 acre campus. Its most recent renovation occurred in 1994 and included a new library, office, computer lab, wired classrooms and a secured main entrance. Polk has its own school constitution, Polk student pledge, and student designed school flag. Check here to find homes by school district.