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Benefits Of House-Hunting During The Holiday Season

When you're writing out the holiday shopping list, maybe it's time to put your name on it and a home as the gift.
  • Rates are typically lower because demand is lower.
  • End of year sellers are typically very serious and may have tax reasons to want to sell before year end.
  • Less competition can mean lower prices.
If you've been considering buying a home,read more here: Real Estate News
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For more information or to set up an appointment call Nesbitt Realty at (703)765-0300.

How Men, Women Differ on Home Buying

Men are from Mars, women are from Venus — and that couldn't be more true when it comes to home buying. According to Prudential Real Estate's third-quarter Consumer Outlook Survey, men and women are quite different when it comes to what they value most about home ownership and the process of buying and selling. Women enjoy the home search more than men, with 87 percent of women versus 77 percent of men saying they like looking at homes, the survey finds. More women associate home ownership with "pride," "accomplishment," or "independence," while men tend to associate it with "control over living space" and "more space for my family." "As the real estate market strengthens and household formation grows, men and women approach the buying-selling process from different angles," says Earl Lee, president of Prudential Real Estate. "What's most interesting is the dynamic that exists among couples and the role that agents play in balancing couples' real estate objectives." Agents may often find themselves stuck in the middle, but both sexes say they trust their agent to be the voice of reason and settle any disagreements among couples. Eighty-three percent of survey respondents say their real estate agent was helpful in moderating an agreement, and 86 percent value the agent's point of view as much as — or more than — their partner's, according to the survey. Both sexes cited "honesty" and "knowledgeable" as the most important traits in a real estate agent. Men and women tend to take on different responsibilities when it comes to home buying, the survey finds. Men take on more of the financial aspects, while women tended to take the lead on planning aspects, such as neighborhood research. Nearly 40 percent of men said they researched banks and secured the mortgage; 42 percent of women said it was their responsibility to manage appointments, and 34 percent took the lead in researching neighborhoods. When it comes to the most important home features, men and women are mostly in agreement. Both genders ranked "safe neighborhood," "overall condition of home," and "number of bedrooms" the highest. Source: Prudential Real Estate

Ronald Reagan National Airport in Crystal City / Arlington

National Airport
Main concourse of Reagan National Airport
Ronald Reagan Washington National Airport, formerly Washington National Airport, is on the Potomac River across from Washington DC. Along with Baltimore Washington International and Dulles International, Reagan National is one of three major airports serving the Washington Metro area. Reagan National is easily my favorite of the three airports for a number of reasons. Dulles and BWI are massive sprawling airports with shuttle buses and mobile lounges. Reagan National barely has enough room for the runway. I always like smaller airports. They feel like they are scaled to human beings. There is plenty of security at National, but it seems to move along more smoothly than Dulles or BWI. Dulles and BWI are outside the Beltway at the periphery of the Washington Capitol Area.  Reagan National is at the heart of everything, wedged at the confluence of DC, Alexandria and Arlington.  For me, it's a long drive just to get to BWI or Dulles, but Reagan National is here, and it's accessible by Metro. Reagan National is a station on both the Yellow and Blue lines. Extended parking is available at Dulles or BWI, but on the shuttle bus, the ride from the parking lot to the terminal seems like a mile or more.  At Reagan National, extended parking is at my house.  Because instead of taking a shuttle, I can take the Metro to the airport. The runway is short at Reagan National, and it launches planes up over GW Parkway and at the Washington Monument, requiring a steep climb and a hard left on take off. Some folks find this terrifying, but I have to admit I love it.  I know it's a safe path, because planes take off here day and night, so I sit back and enjoy the abrupt take-off and turn. Reagan National is open 24 hours a day 7 days a week, although many ticket counters and restaurants in the airport close during off-hours. Reagan National is located within the Commonwealth of Virginia, but it has a Washington DC address to identify the airport's location more easily for travelers. The Perimeter Rule and the High Density Rule affect flights at Reagan National. Under the Perimeter Rule, nonstop aircraft flights are limited to a range of 1,250 miles or less. In 2000, Congress permitted the FAA toNational Airport allow six round-trip flights to points outside the perimeter. The High Density Rule (or "Slot" rule) limits the number of landings or takeoffs allowed in an hour. The rule affects Reagan National because of the Airport's limited airfield capacity. Reagan National is located in Arlington County near/in Crystal City. It is most easily accessed from the George Washington Parkway. There are a good many condos and homes in the Crystal City area and they're all just a metro stop away from Reagan National.  The take-off and approach to Reagan National is down the Potomac, so that area residents get very little noise or fly-over from the jets at Reagan National.
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For more information or to set up an appointment call Stuart at (703)765-0300.

Why buying a condo is not like buying a house.

Some folks like to imagine that buying a condo is like buying a house without yard work. In some ways this is true, but it many ways it does not tell the full story. There are real differences between buying a condo, whether you are a first time buyer seeking affordability, or if you are a long-time homeowner down-sizing.

Legal

Consider the legal limitations of condominium ownership. For example, the title of a single family home provides to the owner near total control of any legal use of the property. That means total control of the landscaping, the colors of the house and the types of windows and doors you have. But condos are titled differently.  The governing documents in a condominium complex describe common areas and shared resources. The common area and shared portions of the property are controlled by a---sometimes burdensome---democratic apparatus of owners in the complex. The association might restrict the color you can paint your door. It is not uncommon for the association to decide what plants are planted and what types of windows you may install. On the other hand, some homeowners associations make similar restrictions. A cynic might note that a homeowner does not have control over the street or "common area" that is controlled by the county. In a real sense we all have an association with the community at large. It's just a matter of where the community starts and what responsibilities we cede to the community. In a single family home, community control begins at the curb, but in a condo, community control begins somewhere just beyond the paint on your walls.

Lifestyle

Because the community has shared elements, condo owners don't just have neighbors. Instead, condominium owners actually live next door to their investment partners. Condominiums force a relationship with your neighbors that goes beyond what the owner of a single family home might find. If your neighbor ruins the carpet outside his door, he ruins your carpet too. Life is simpler in a condominium: you don't need to worry about maintenance. Many times some or all of the utilities are managed by the association.  Often the building insurance is managed by the condo association.  Freedom from responsibility means less control and fewer choices about the community: but do you really care who cleans the gutters?  Do you really want to spend your life picking the insurance company?  If not then, a condo might be for you.

Condo Benefits

Condos are a lifestyle choice. In Northern Virginia, where prices are high and choices are limited, condo ownership makes a lot of sense. However, condo ownership has unique challenges and aspects that you should fully understand before buying. If you choose a condo specialist like us, you'll know that we have answers to important questions.
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For more information or to set up an appointment call Stuart at (703)765-0300.

Why do I need a realtor?

When you are looking to buy or rent a home, a licensed real estate agent provides a variety of unique skills and connections to ensure you get a much better home.
  1. First and foremost a Realtor brings security.  People know what they want in a home, but very few people realize the litany of potential pitfalls that can ruin your new nest.
  2. Second, a Realtor brings diversity.  Unless you're going to limit your selection to public listings, and kiss good-bye some of the best homes in the market, then you need a Realtor to grant you access.
  3. Third, a Realtor brings you economy.  Whether buying or selling, no-one has access to market information to the degree a Realtor does.  This ensures that you're not overspending on your new home, or underselling your old one.
  4. Finally, a Realtor brings you peace of mind.  The process of finding a new home, or someone to buy or rent your existing home can be daunting.  Challenges from financing, to proper title transfer, to negotiating your price require attention to detail, and can be very stressful, and time consuming if not handled properly.
To learn more about how a licensed real estate agent can assist you contact us.

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

Comparing condos and townhouses to single family homes?

The answer depends upon what you want.  Aside from the obvious differences of having more green space with most single family homes, such as those in Belle View versus the tighter knit community potential in a high-rise condominium or townhouses there are other, harder to see, but no less profound differences. Single Family Home Benefits
  • Absence of monthly homeowners or condo fees
  • Less stringent rules and regulations
  • No homeowners or condo association that can impose restrictions without your consent
  • Fewer parking restrictions and fees
Condo and Town House Benefits
  1. No need to save money to cover what condo fees will cover:
    1. Roof repairs/replacement
    2. Common area repairs
    3. Yard Maintenance
    4. Maintenance, paving, and plowing of the driveway, sidewalks, and curbs.
    5. Siding and gutter maintenance or repair
  2. Some have controlled access
  3. On site community amenities from club rooms to pools and exercise rooms
  4. Many have improved public transit service, shuttles to metro service, etc

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Why do I need a pre-approval to shop for homes?

Buying your new house or condo involves a multitude of steps.  Having a real estate agent ensures that these steps go smoothly for you.  Having said that, one of the most important aspects of your new home purchase is getting a loan secured.  Doing so in advance ensures benefits you in three ways:
  1. You are searching for properties that will be within budget
  2. Your offer carries extra weight because of your ready to buy status
  3. The home buying process will go smoother and quicker through its final stages.
The value of these three together is quite great, and can make the difference between getting the home of your dreams and that one that "just got away".

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

What is a home inspector?

home inspector Bob I like experts who speak in plain English that's easy for a layman to understand. That's why Bob Murphy of Camelot Inspections is one of my favorite home inspectors and I've recommended him to many home buyers.

What is a Home Inspector?

I recently asked Bob to describe a home inspector to me. He said, "A home inspector is generalist with a trained eye. They are required to have some knowledge of every system in your home. Those systems include structure, plumbing, electrical, Heating and A/C, etc. The term 'house detective' is a very fitting description. We look for little clues that add up to a big picture called 'whole house phenomenon'." People hire home inspectors because, "A buyer needs a home inspection to give them some knowledge of what they are buying before it becomes theirs. This includes knowledge of defects, upgrades, and maintenance cost." As you might expect, Bob is pretty passionate about home inspection. He says, "The home inspection should be a required part of the transaction.  The appraisal,title search, and even termite inspection are required. Why?? To protect the lender!   So who is there to  protect the interest of the buyer?"

Alana, meet Bob

Lana LadyRecently, Alana H. was referred to me by a prior client and frankly she was one of the nicest clients I've ever had the honor of serving. After her purchase was negotiated she requested a home inspector so I recommended Bob's services. Alana was a first-time home buyer, so she wanted Bob to give her new home the once-over. Bob told her, "Food for thought....You cannot buy a car and register it without an inspection. That is a matter of public safety. "So why then is the public permitted to make the biggest purchase of their lives without an inspection?"

Bob meets the house

bob w/flashlightBob has seen many immediate safety issues in all types of houses. Bob met Alana and I at her new townhouse in Reston VA. He immediately unpacked his gear and began to go to work. Like any good home inspector, Bob started with the exterior and checked out the house from the foundation to the roof. He checks downspouts, guttering and any potential problem or maintenance issues. After getting inspecting the home's interior Bob goes to work on the interior. He pulls out the flashlight and pokes around in dark corners, in the attic and in the crawl space. As he works Bob shows the homeowner what he's doing and where potential problems can hide. electrical home inspection As part of his general practice Bob pulls the electrical box, checks the plumbing and applicances. He checks out major systems like the heating and air conditioning. home inspection Bob is especially helpful with the first-time home buyer. As a first-time buyer, you'll find out what systems need attention. If you have and questions, ask Bob, he's there to help. home inspection When all is said and done, Bob will prepare a report tailored to your home, so you'll know exactly where you stand. He supplies a helpful book with tips and answers to some of the questions you might not even remember to ask. home inspection It's always good to learn that the home is in good shape! Bob is available to inspect houses, townhouses or single family homes in Maryland or Northern Virginia.

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Will Nesbitt About the Author --- Will Nesbitt is the principal broker of Nesbitt Realty and maintains Condo Alexandria. Will specializes in condos, townhouses and single family residences in Alexandria, Arlington, Fairfax County, Crystal City, and Kingstowne. Will resides in Belle Haven Estates just outside Alexandria VA in Fairfax County.

What to Expect From a Real Estate Agent

Your real estate agent is there to represent your best interests. Make sure you read any contracts before you sign them so you know exactly what to expect but the following tips should give you a general idea of what to expect. Sellers agents should be aggressively marketing your property, including running advertising and holding open house events. Nesbitt Realty and Condo Alexandria place a special emphasis on Internet marketing because we believe that's the future of real estate sales and the most effective way to find your home's buyer. As a home buyer, you should expect your realtor to listen to your needs and your budget, and show you properties that fit your criteria. For busy buyers who don't want to worry with the details we offer additional services such as helping to set up utilities, recommending services such as carpet cleaners, and other extras. Most agents will ask you to sign an exclusivity contract for a set period of time, but if you are uncomfortable with the terms don't hesitate to ask the agent for a shorter period of exclusivity.

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

What is a short-sale?

A short-sale occurs when the individual selling the property is selling the property for less than what they owe for the property. This means that after the seller agrees to the price, the lender must also agree to the price. Despite what anyone might try to tell you, that's the only difference between a short-sale and a normal sale. Unfortunately, there are many selling agents who work with the notion that there is a different set of rules for short-sales. These misguided agents are souring the market for everyone. (See Pitfalls of a Short Sale for more  information.) In Northern Virginia, below a certain price-point nearly half of the properties for sale are short-sales. In some neighborhoods, more than a third of the properties for sale are short-sales. So, short-sales are almost unavoidable. If you are considering purchasing a short-sale, you should learn more about the pitfalls and drama associated with short-sales and deal with an agent who has experience sorting through these complicated matters. Check here for tips for buying a short-sale.
Will Nesbitt is the principal broker of Condo Alexandria. About the Author --- Will Nesbitt is the principal broker of Nesbitt Realty and maintains Condo Alexandria. Will specializes in condos, townhouses and single family residences in Alexandria, Arlington, Fairfax County, Crystal City, and Kingstowne. Will resides in Belle Haven Estates just outside Alexandria VA in Fairfax County.