Mid-rise condos have 4 to 8 floors. High-rise condos are 9 stories or more. Most high-rise condos are located near the center of the city, which may provide a better commute to work. Most condos also include a variety of amenities, including laundry services, pools, convenience stores. Some condos even small grocery stores located within the building itself.
Are you considering renting in Northern Virginia? With remarkably low interest rates, perhaps you should consider buying? Here are 5 solid reasons that buying is better than renting.
Be your own landlord. The landlord picks the paint colors. The landlord decides whether pets or smoking is allowed. If you are the landlord, you make the decisions. And you decide whether to extend your lease or not.
Paying the principal is forced savings. Everyone knows that paying off a mortgage is better than paying rent forever.
Fixed-rate mortgages never rise – and eventually you pay them off. With mortgage rates at record lows, people who buy now are locking in real bargains.
Good schools. Family-sized rentals are harder to come by in areas with excellent public schools.
Spacious properties in pleasant neighborhoods. Sizable homes in attractive communities are almost always owned – not rented.
Nesbitt Realty can help you purchase a home in {Location_Name}.
Nesbitt Realty is a local business thriving in one of the largest and most competitive real estate markets in the world. Find out why our clients love us.
If this is your first home purchase or if you're an old hand, we're happy to help in {Location_Name}.
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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)
The Washington, D.C. area has emerged from the recent recession with Northern Virginia leading the way, a George Mason University economist recently told local Realtors.
George Mason University economist Stephen Fuller said the economic recovery has been underway for about 17 months and is stronger than analysts expected.
He pointed to bright spots for the No. Virginia economy:
1) Employment: Fuller said the manufacturing segment has led the economy out of the downturn with increased hiring for 17 months in a row. Gross domestic product is higher now than when the recession started in November 2007.
2) Housing Shortage: He also predicted a future housing shortage for the region.
According to Fuller, the area likely will absorb about 700,000 more people in coming decades and needs to build about 35,000 housing units per year to keep up with demand.
While some apartment developers may err on the side of overbuilding, Fuller said more condominiums and smaller townhouses and single-family house are being built. The number of larger single-family developments is declining
But don’t uncork the champagne just yet. He also said consumer confidence remains low, despite the good economic news.
Sellers have a better chance at getting their house sold by using a REALTOR® than opting for the do-it-yourself approach, according to a survey of 1,000 home owners by HomeGain.com, an online real estate resource. Nearly 60 percent of home owners who used a REALTOR® to sell their home were successful compared to 39 percent of FSBOs, the survey found.
In the survey, 83 percent of home owners said they used a REALTOR® to sell their home, whereas 17 percent said they tried to sell it themselves. This corresponds to results from NAR's 2010 Profile of Buyers & Sellers, which found 88 percent of sellers were assisted by a real estate agent. (Additionally, 83 percent of buyers bought their home through an agent.)
“It is especially striking that home owners fare significantly better in selling their homes using a REALTOR® than selling on their own,” says Louis Cammarosano, general manager at HomeGain. “Due to that relative success, the level of satisfaction in the home selling process is also higher for home sellers utilizing the services of a REALTOR® than those who try to sell their homes on their own.”
Among the findings in its For Sale by Owner vs. REALTOR® survey:
88 percent of home owners who sold their homes using a REALTOR® said they would use a REALTOR® again.
24 percent of FSBOs eventually contacted a REALTOR® to help sell their home.
Source: “HomeGain Survey Finds Home Sellers Fare 50% Better in Getting Their Homes Sold Using a REALTOR® Than Selling on Their Own,” HomeGain.com (Feb. 24, 2011)
Duke Street is a popular and vivacious street in Alexandria. It is lined with offices, high-rises, shops, and restaurants. It is quite the eclectic mix of old and new. Alexandria is rich with history and full of new life as it has grown to be one of Northern Virginia’s top places to settle. Local delicacies are easy to find and the adventurer never gets bored.
Landmark Mall caters to traditional shoppers with stores such as Sears, Macy’s, and Victoria Secret. There is plenty to do to pass the time. Walking down the street you can explore various international cuisines such as Mayur Indian Restaurant. This is fine Indian dining that any palate could enjoy. You have a number of choices if you prefer Asian, Italian, or American cuisine. Whatever your taste buds desire, you will not be disappointed.
There is no shortage of history with civil war reenactments, 200 year old buildings, and monuments. Tourists are amazed at the amount of historic richness that the city itself has managed to preserve and pass on from generation to generation. Walking down Duke can almost transport you back in time but you are quickly reminded that it is 2011 by all of the modern hot spots available.
Located in the heart of one of 2011 Dozen Distinctive Destination winners, this street is sure to leave a memorable impression. Its year round draw has kept visitors swarming in year after year.
Uber-rich Americans are spending again, on everything from fancy cars to second homes.
"Personal embracement of luxury is now back to (pre-recession) 2007 levels," marketing specialist Jim Taylor, author of “Selling to the New Elite,” told USA Today. "We're seeing that in cars, private jet usage and finally, in high-end real estate. There's a real change in the way people feel about money. They're making purchases they put off during the recession."
For example, second-home markets are on the rise: Vacation homes in Cape Cod, Mass., for example, increased 9 percent in 2010. In Palm Beach, Fla., home sales increased nearly 40 percent, and in Hilton Head, S.C., home sales were up nearly 14 percent. Luxury home sales in Southern California are also beginning to pick up, analysts say.
"We're starting to see movement," says Madison Hildebrand, a real estate professional who specializes in selling homes in Southern California, and also star of the Bravo's “Million Dollar Listing” reality show. "People are more confident."
Analysts also note that when the wealthy start buying, it often has a trickle down effect among middle and upper-income shoppers too.
Source: “For the Wealthy, Luxury is Back,” USA Today (Feb. 20, 2011)
$1,795,000 In Alexandria At Belle Haven // 6 Beds // 6 Full Baths – 1 Half Baths
houses at Belle Haven is in Alexandria 22307 New construction in Belle Haven. On track for spring delivery. Still have time to choose your granite tops, wood floor stain and carpet colors. Masterfully crafted and balancing architectural heritage with contemporary brilliance. Great floor … [Read more] 6 beds, 6 full, 1 part baths Home…
Featured From Villamay $889,000 : 7414 Burtonwood Dr, Alexandria 22307 4 beds, 3 full baths Living area: 2,768 sq. ft. Lot size: 12,956 sq. ft. Year built: 1963 Days on Market: 4 See more Featured From Villamay We like to show off our image library stocked with the latest trends in Alexandria's real estate market.
Nesbitt Realty can help you shop for your next home in 22124. Today's spotlight is on this house in Oakton, VA 22124. 6 beds, 3 full baths Lot Size: 60,275 sq.ft. Added: 02/11/17, Last Updated: 02/11/2017 Property Type: Residential Detached for Sale MLS Number: FX9860968 Subdivision: Vale Spring Woods houses at Vale Spring Woods is…
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…
Home warranties can be attractive to home owners or buyers who are looking at purchasing a property. These service contracts can cover all of a home’s major systems, such as the furnace or air conditioner, and will cover needed repairs if the appliance breaks or damaged.
Some sellers are offering a home warranty to try to lure buyers.
But not all home warranties are the same. Experts say you should carefully weigh costs, policy allowances, and customer feedback before making a decision so that you ensure you’re getting the best deal. Home warranties cost about $250 to $500 a year.
Here are some more tips from experts in shopping for a home warranty:
Find customer reviews. Web sites, such as homewarrantyreviews.com, provide reviews of home warranty companies. You also might check how each company is rated with your local Better Business Bureau.
typical home in Belle Haven Estates
Check for extra fees. Will you have to pay a fee for service calls?
Check the coverage allowance. Are there any exclusions to coverage? Will the allowance cover the entire cost of a broken appliance or just some of it? For example, if you have older appliances and mechanicals, will the policy cover the full cost of replacing it or just the depreciated value? If the policy only covers the depreciated value when a 20-year-old furnace dies, for example, the reimbursement may not be enough to buy a new one. Also, verify what appliances are all included in the coverage. Some companies will allow you to add coverage for swimming pools, while others won’t.
"The biggest thing is awareness of what the exclusions are," Greg McBride, a senior financial analyst at Bankrate.com, told the Chicago Tribune. "The mere presence of a warranty, by nature, tends to have exclusions. Being aware of that can aid in the decision-making process."
Source: “When Home Warranties Are Worth It,” Chicago Tribune (Feb. 8, 2011)
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)
Carlye Towers looking toward Masonic Memorial in Alexandria VA
Home prices are expected to rise in 40 percent of major metropolitan areas, according to Veros Real Estate Solutions, a research firm that provides information to the mortgage industry.
The markets Veros expects to be strongest are:
1. San Diego/Carlsbad/San Marcos, Calif.
2. Kennewick/Richland/Pasco, Wash.
3. Pittsburgh
4. Fargo, N.D.
5. Washington, D.C. metro area
The five markets Veros expects to be weakest are:
1. Reno/Sparks, Nev.
2. Orlando/Kissimmee, Fla.
3. Boise City/Nampa, Idaho
4. Deltona/Daytona Beach/Ormond Beach, Fla.
5. Port St. Lucie/Fort Pierce, Fla.
Source: HousingWire.com, Kerry Curry (12/22/2010)
Home Prices In Arlington Continue To Hike
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.
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
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…
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…
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…
