Westover in Arlington
Many houses and apartments built before 1978 have paint that contains lead (called lead-based paint). Lead-based paint is perfectly safe when treated properly, but lead from paint, chips, and dust can pose serious health hazards if not taken care of properly. Lead is especially dangerous when ingested. Lead poses a greater risk to small children who might ingest paint chips.
Recognizing that families have a right to know about lead-based paint and potential lead hazards in their homes, Congress directed EPA and HUD to work together to develop disclosure requirements for sales and leases of older housing. These requirements became effective in 1996.
Federal law requires that individuals receive certain information before renting or buying a pre-1978 housing:
LANDLORDS have to disclose known information on lead-based paint and lead-based paint hazards before leases take effect. Leases must include a disclosure form about lead-based paint.
SELLERS have to disclose known information on lead-based paint and lead-based paint hazards before selling a house. Sales contracts must include a disclosure form about lead-based paint. Buyers have up to ten days to check for lead hazards.
Renovating, repairing or painting a home, child care facility or school containing lead-based paint
River Towers in Alexandria
Beginning in April 2010, federal law will require that contractors performing renovation, repair and painting projects that disturb lead-based paint in homes, child care facilities, and schools built before 1978 must be certified and follow specific work practices to prevent lead contamination.
Until that time, EPA recommends that anyone performing renovation, repair, and painting projects that disturb lead-based paint in pre-1978 homes, child care facilities and schools follow lead-safe work practices. The contractor should follow these three simple procedures:
Contain the work area
Minimize dust
Clean up throughly
To learn more check out the following EPA pamphlets on renovation, repair and painting:
Renovate Right: Important Lead Hazard Information for Families, Child Care Providers and Schools (PDF) (20 pp, 3.7MB)
Arlington Heights in Arlington
Contractors: Lead Safety During Renovation (PDF) (2 pp, 1.5MB) HTML version
Old growth neighborhood
The economic theory of "Progression and Regression" states that building a home that is valued substantially above other properties in the same neighborhood will most likely cause the newly built home to value downward toward the other properties. This is sometimes called "overbuilding" because sometimes a homeowner will put additions or improvements on his home that are substantially better than his neighbors.
But the theory is called progression and regression because a home that is in a diminished condition in a better neighborhood will command a higher value. Additionally it is possible for a neighborhood to reach a tipping point. In other words, if enough of your neighbors "overbuild" your house could increase in value due to the increase in value of the neighborhood.
In Northern Virginia, we see this in many neighborhoods in and close to Alexandria and Arlington. For example, in Del Ray, older working-class homes have been replaced by or improved to become pricier and much more luxurious. Lyon Park and the area surrounding Belle Haven is not the same neighborhood that I remember as a child. Both of these areas have become much more exclusive.
Are you looking for new construction in Northern VA?
There are many types of condominiums. Some condos look like houses or townhouses; most look like high-rises or garden-style apartments. Even though a condo can look look like a townhouse or house, owning a condo differs from owing a fee simple property in many ways. There are aspects of condo living that some may view as advantages or disadvantages, and you should be aware of these before you buy.
Nothern Virginia Condo Experts
Here are a few basic benefits and considerations of condo living to help you make your decision.
The City
Busy folk who love being close to the action often choose a condominium because condo developments most often occur in the city. In the Carlyle District, in Arlington and places like Skyline Square, land is at a premium. But in all these examples, your condo is well served by public transportation. These condos are also close to the culture and opportunities of the city.
Of course the downside to being in town is that you're in the city---that means traffic, hustle and bustle and other disadvantages of living downtown. For example, the USPTO is crawling with people during rush hour. Crystal City
is a pass-thru for many many commuters. Most homes and townhomes have a lawn or yard of some kind, but few condo owners have a yard or personal green space.
Community Living
A condominium owner is part of a community. The community lifestyle has many advantages. For example, the owner of a condo can leave things on a whim. There is no yard to worry about, and the building is secure. Neighbors and condo staff will watch the property while you're on travel or vacation. Most condos in Alexandria, Arlington, Crystal City and Falls Church have security features such as buzzers, a concierge or a guard service. If you travel often for business or pleasure (or if this is a second home), there are no worries while you're out of pocket. Many condos have clubs, activities and the opportunity to socialize with neighbors.
But, shared walls and common areas mean that you are more likely to hear your neighbors. If you need your home to be a hideaway where you can escape from people, you have to deal with the fact that you might encounter neighbors in the hallway. Nosy neighbors are found everywhere, but it's a lot easier for them to keep tabs on you as you come and go in a condo. The community will set standards and make decisions about common areas. For example, many condo association have rules about pets so that the common areas are not over-run with pets and pet debris.
The Association
You can take part in the decision making (by voting or by being a board member), but you must abide by the rules of the community. As you may know, condos are governed by a set of rules called Covenants, Conditions and Restrictions (CC&Rs). This can include restrictions on noise levels, pet ownership, renovations, and even what kind of curtains you can put in your windows.
Every unit owner is a member of the condo association, which also has an elected board. The association serves to enforce bylaws, handles maintenance and repair issues, etc.Because the condo association is made up of homeowners rather than property-management professionals, the association may be weak and inefficient. Most associations oversee a paid management firm.
Also, if you want to make renovations to your unit or rent your unit out, you may have to get approval from the condo association.This purpose of this oversight is most usually designed to make sure that you don't remove any load bearing walls or short circuit community electricity.
Maintenance
Homeowners have a lot to worry about, but condo owners on the other hand ...
Think of Nesbitt Realty for condos and condominiums in Northern VA
Condo owners generally don't mow lawns. They don't clean gutters. They don't even have to hire or pay landscapers. In a condominium someone else takes care of the exterior, the common areas, the snow removal and more. For example, someone else makes sure there's money enough to pay for the new roof.
Of course, that service comes at a price: the monthly condo fees. The association collects these fees to pay for maintenance and repair of the common areas. All homeowners pay for maintenance, but the owner of a single family residence can save money by mowing his own lawn. The owner of a single family home can defer payment a little longer if money is tight. Of course, by aggregating the fees of maintenance, condominium owners often have enough money to pay for amenities that are not common in a single family residence. For example, a swimming pool is pretty standard in a condo.
Affordability
Some condos in Northern Virginia list are every bit as expensive as single family houses elsewhere. Condos in Crystal City, condos in Arlington and condos in Alexandria (especially in the Carlyle District) can be quite pricey. But some condos are surprisingly affordable. This makes a great option for first-time buyers and singles who may find single-family houses unaffordable. Condominiums are more sensitive to trends in the real estate market than single-family homes. Now that the prices have dropped there are some tremendous bargains for shoppers.
Amenities.
Most condominium developments offer a range of amenities in the common areas. It's pretty standard in Northern Virginia to have access to a swimming pool, gym or tennis courts in most condo complexes.
Condominiums are found in all shapes, sizes, prices and types. Are you looking for a high-rise condo, a mid-rise or a garden-style condo? Maybe you'd prefer a townhouse?
The term "garden-style" condo usually refers to a condominium residence in a building that has less than three stories. Most garden-style condos have balconies or patios for each residence. Many garden-style condos have a main entrance that opens to a common-area hallway. Additional common areas include the green space and "gardens" surrounding the structures. If you're interested in garden-style condos you'll have a lot of options in Northern Virginia.
From the suburban feel of Kingstowne to the central location of Bolling Brook from the vintage charm of Belle View to the chic feel of Carlyle Square, are just some of the many Northern Virginia condominium communities we feature.
Mid-rise condos are taller than garden-style condos, but smaller than high-rise condos. Mid-rise condos in Northern Virginia are 5 to 8 stories tall and are generally found close to or inside the Beltway.
High-rise condos have more than 9 floors. They are generally found inside the Beltway and are often located near Metro stations, public transportation, or major commuter traffic arteries like I-395.
Contact Nesbitt Realty to buy or sell real estate in Northern VA
Obtaining pre-approval from a bank is a daunting process. It is time consuming both due to the delay and because of the amount of paperwork required to satisfy a lender of your credit status.
It is, without a doubt, the most pressing matter before beginning your home search. Proceeding without this step can lead to angst and lost time, energy and opportunities. Without pre-approval you'll be facing the following pitfalls very quickly:
Offers will be rejected in favor of lower offers by pre-approved buyers.
Delays can result as you await approval by your bank.
Too late you may find the home you are looking at is beyond your budget
or
A better home could have been yours if you'd known what you could afford
Time can disappear into looking at homes that disappear from the market before you're ready to make an offer and
Effort invested into your search can be wasted as you await pre-approval to have an effective offer.
While condition of the unit is critical, a common mistake is to confuse the age of the building with the current state. There can be no substitute for an on-site examination.
Condominiums are found in all shapes, sizes, prices and types. Are you looking for a high-rise condo, a mid-rise or a garden-style condo? Maybe you'd prefer a townhouse?
The term "garden-style" condo usually refers to a condominium residence in a building that has less than three stories. Most garden-style condos have balconies or patios for each residence. Many garden-style condos have a main entrance that opens to a common-area hallway. Additional common areas include the green space and "gardens" surrounding the structures. If you're interested in garden-style condos you'll have a lot of options in Northern Virginia.
From the suburban feel of Kingstowne to the central location of Bolling Brook from the vintage charm of Belle View to the chic feel of Carlyle Square, are just some of the many Northern Virginia condominium communities we feature.
Mid-rise condos are taller than garden-style condos, but smaller than high-rise condos. Mid-rise condos in Northern Virginia are 5 to 8 stories tall and are generally found close to or inside the Beltway.
High-rise condos have more than 9 floors. They are generally found inside the Beltway and are often located near Metro stations, public transportation, or major commuter traffic arteries like I-395.
Rules and regulations vary depending on whether you are in Belle View, Montebello, the Royalton, etc.
These days, if the unit does not already have a washer and dryer, then these appliances are most likely in the building. If you choose to install a washer and dryer then you will be facing additional insurance requirements at the least. Often, condo covenants do not allow owners to install a washer/dryer if the community has one or more laundry rooms. If you're buying, it's
important to check your condo documents to make sure that this will be
allowed.
Always keep in mind that living in a condo is a balance. Conveniences such as pools, gyms, in building stores and other amenities will balance with a need to protect your neighbors from, in this case, water damage.
For more information or to set up an appointment call Stuart at (703)765-0300.
Contact a Realtor to write your contract.
When you've finally picked out the condo, house or townhouse that interests you, it's time to write the offer. Together with proof of Earnest Money, and lender approval, I'll present the offer to the selling agent.
Presenting an offer is a little bit more involved than simply faxing paperwork to the listing agent and then waiting for a response. It is important to get the offer over as quickly as possible. Bargains (in any market) don't last long. Then I call the listing agent to let them know the offer has been sent.
When appropriate, I follow up in the conversation by sharing appropriate details with the listing agent. For example:
I can give the selling agent some personal background about my clients and what they are looking for. I can explain why they are qualified to buy or how many homes my client has looked at. In some cases, it's appropriate to tell seller what the buyers appreciate about the home.
I sometimes provide the sellers with a comparative market analysis to show the sellers the rationale behind the offer we are making.
Of course, it's my job to explain and review all of the major details of the offer;
Wooster Mercer Lofts
contingent or non-contingent,
inspections,
date of closing,etc.
and of course, price.
When necessary I discuss a brief timeline outlining the expected milestones between the offer and settlement.
What exactly Does a Realtor in {Location_Name} Do?
Law requires realtors to:
Perform certain mandatory and standard acts to help out with the purchase or sale of real estate.
Properly account for the money or alternative property placed in her or his attention.
Disclose untoward material facts that are, or should be, inside the broker’s knowledge.
Sellers can be assisted by Realtors in screening prospective buyers and preparing their homes. Realtors can demonstrate to investors the properties that meet their risk profiles and long-term investment strategies.
Nesbitt Realty can quickly locate the perfect home in {Location_Name} for you. Our Realtors can efficiently organize and coordinate meetings with sellers and potential buyers. A Nesbitt Realty Realtor is well acquainted with all the important things you'll want to learn about the area you may be considering:
the quality of schools,
association fees,
Metro availability,
community amenities such as shops, parks and restaurants.
Our brokers have immediate use of homes when they are put on the market, saving you hours of wasted drive-around time. When you’re prepared to make an offer on a house, our Realtor will help structure the deal to help you save money. She or he will clarify the pros and cons of different types of mortgages and guide you through the piles of paperwork.
For more information or to set up an appointment call Julie at (703)765-0300.
This is a bit tongue in cheek, but there is some wisdom in this little video.
For more information or to set up an appointment call Julie at (703)765-0300.
https://www.youtube.com/watch?v=zkQPvLDJovE
A lot of money goes into buying a home, more than just the purchase price. Be aware of some unexpected costs associated with the home buying process and there will be fewer surprises along the way.
“I’ll know it when I see it.” Buyers should come into the home buying process with a list of must-haves and wants. Buyers that want to be taken seriously get preapproved. This helps to expedite the process of making offers and also to pinpoint the price range of what the buyer can afford.
Stuart and Will Nesbitt discussing real estate related matters in the office
“I’m not in any hurry.” Realtors don’t expect to rush you through the home buying process. At the same time, they don’t want to waste their time with a client that doesn’t have any firm motivation to make offers or to buy.
“I’m not going to give it away,” or “it was good enough for me for 30 years, it ought to be good enough for a buyer.” Stiff prices based on feelings can result in a home with a price that will never sell. Realtors suggested prices factor in market value and current conditions.
“Let’s test the market at this price.” This usually means that the price is too high and that the house will set on the market until it gets stale. Because it the home sets in the market for too long, people start to think there’s something wrong with the home and as a result the home ends up selling for less. Realistic prices get realistic offers.
“My sister (brother, cousin, friend,) is a Realtor in another state and she told me that my house would be worth $XXXXXX.” This is a bad idea because no one, including another Realtor, can advise someone about real estate pricing in another state.
“Let’s toss this low-ball offer in to see how serious (or desperate) the seller really is.” A common effect of a low ball offer is rejection and no counter offer. Low-ball offers just offend sellers and result in the seller not taking the offer seriously. Realtors can help generate reasonable offers that will progress the home buying process.
“I’ve bought and sold lots of homes, so I know real estate.” Each real estate transaction stands alone because of several variables (e.g. property’s location, property’s condition, and market value.)
References:
Werner, N. (2013, November 19). Things your REALTOR doesn't want to hear.... Things your REALTOR doesn't want to hear.... Retrieved November 22, 2013, from http://normwerner.realtytimes.com/advicefromagents1/item/26647-things-your-realtor-doesn-t-want-to-hear
