Condo Shortage on the Horizon?

Palomar
Hotel Palomar occupies the same building as the Waterview.
According to Tom Meyer of Condo 1, "Arlington is a boom town. Just look at the cranes in Courthouse, Clarendon, Ballston. New office buildings, new rental projects, new restaurants and retail. BUT .... New condos? Nope!" Real estate data seems indicate that condo and home prices in Arlington are about to rise.  Tom says, "We are about to enter a phase of economic recovery in which thousands of new Arlington residents will be paying lots of $$$ for rental apartments. Of course, they move in and immediately realize that they would be better off converting that money into home equity in their own condo. But there has been virtually no new supply built in the past five years. This bodes very well for future condo prices in the R-B Corridor."  

Buy Near the Friendly Rails

Metro car in Northern VA"Transit-oriented development" sounds like a solution to a variety of urban problems. If people could live and work within walking distance of a train or bus stop, people could save money on gas, people without cars could commute more easily, neighborhoods could reduce congestion and pollution, and economic growth could follow. Generally, it makes sense for cities to invest in the hubs that connect people and the places they need to go. However, not every rail stop is equally primed for a new apartment complex or retail development, and determining why is a significant challenge. For example, there is little sense in pushing transit-oriented development in a community where every household already has multiple cars, and likewise there is little sense in developing stops in areas divided by highways and mega blocks where people are unlikely to walk to a train. In early February, the Center for Transit-Oriented Development released a study of more than 100 transit stops in the Pittsburgh area, assessing the suitability for transit-oriented development. A quarter to half of the station areas in the system could benefit from a small infrastructure investment, such as a pedestrian bridge or tunnel, signage showing where the station is, or paved pathways or sidewalks. The assessment uses pentagonal graphs to illustrate ways that density, land use, care dependency and distance all shape communities differently. "It’s a very simplistic way of measuring what you need," says CTOD director Abigail Thorne-Lyman. "But if you don’t have the resources to even know where to begin, it’s very powerful to say ‘I’m just going to look at these five things, and what do I need to improve to push myself into a more transit-oriented urban form?'" Source: "The Geometry of Transit-Friendly Neighborhoods," The Atlantic Cities (02/11/13)
Find homes and condos for sale near the Blue Line

Find homes and condos for sale near the Yellow Line

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The Recession Changes Americans’ Moving Patterns

Brick sidewalk
Brick sidewalks are common in the 22314 zipcode
Moves across county and state lines are falling, with the 2007-2009 recession blamed for changing Americans’ moving patterns, according to an analysis of census data through 2010. The Great Recession caused more Americans to move because they could no longer afford to remain where they were. That's a big change in what traditionally motivates Americans to move -- a bigger home or higher paying job, USA Today reports about the analysis. Nine percent of Americans stayed local with their moves during 2007-2009 period -- the highest in a decade. "Typically, over the last couple of decades, when Americans moved, they moved to improve their lives," says Michael Stoll, author of the research and chairman of UCLA's public policy department. "This is the shock: For the first time, Americans are moving for downward economic mobility. Either they lost their house or can't afford where they're renting currently or needed to save money.” More than 23 percent moved for more affordable housing during the recession. Prior to the recession, that percentage stood at 20.8 percent. Also, prior to the recession, 41.3 percent of Americans moved in order to own a home or settle into a better neighborhood. However, during the recession, that percentage dropped to 30.4 percent. Source: “Americans on the Move Start Moving Down, Not Up; Setback in Upward Mobility Hits Blacks, Sun Belt Spots Hardest,” USA Today (Feb. 20, 2013)
  • Home Prices In Arlington Continue To Hike

    Glendale
    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.

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  • Inlet Cove is near Fort Belvoir and Potomac Mills

    Inlet Cove outside Belvoir
    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

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  • Pending Home Sales on an Upswing

    home inspector
    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…

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  • A Good Time to Buy a High-End Home

    Station Square
    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…

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  • Who is today’s homebuyer and why are they buying?

    Nesbitt Realty 703 765 0300
    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…

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Apothecary Museum is a Trip Back in Time at Old Town Alexandria VA

Stabler Leadbeater Apothecary Museum
Stabler Leadbeater Apothecary Museum
The Stabler-Leadbeater Apothecary Museum was opened by a Quaker pharmacist Edward Stabler in 1792 and is one of the oldest pharmacies in the country. Located on 105-107 South Fairfax Street Alexandria, Virginia in the heart of Old Town Alexandria. In addition to being a pharmacist, Stabler was dedicated to the abolition of slavery and the expansion of educational opportunities. Among other accomplishments, Stabler purchased many slaves for the express purpose of granting their freedom. Edward Stabler died in 1831, but his son continued to run the business for many years after. This particular building served and survived through many important events in United States history such as the War of 1812. The pharmacy was of great importance during the Yellow Fever Epidemic of 1821. During the Civil War the apothecary furnished medicines for the Union. The pharmacy also served during the Spanish-American War of 1898, and World War I. Finally, in 1933 the shop closed due to the Great Depression. At that time the contents of the shop were sold, and the money that was raised was used to preserve the property as a museum. In 1939 the shop re-opened as a museum and 43 years later Stabler Leadbeater Apothecary Museum was placed on the National Register of Historic Places. With over 8,000 objects-- gold-leaf labels, hand-blown medicine bottles, pill rollers, show-globes, mortars & pestles-- the museum provides visitors with a wide, fantastic collection. The first floor is in the Gothic Revival style from 1835. On the second floor names of herbs and medicine are in their original hand writing placed on the walls and shelving of the interior. The Apothecary is home to many important artifacts, journals, receipts, ledgers, and invoices, and also include many historical figures names in documents, Martha Washington, James Monroe, and Robert E. Lee.The purpose of the Stabler-Leadbeater Apothecary Museum is to promote the history and educate people about the values of Edward Stabler. More importantly, the museum promotes a better knowledge of historic public health issues of the past. It was a center of daily life in Old Town Alexandria, and as a museum the apothecary is still having an positive impact today. This museum is just one of the many features that make Old Town an attractive destination for tourists and a highly prized location for residents. Parking can be a hassle in Old Town, but the problem can be avoided by taking the Metro and the King St. Free Trolley, which stops near the museum.

10 Metros That Attract the Wealthy

Traditional Townhouses of Carlyle City Residences
Traditional Townhouses of Carlyle City Residences
According to new U.S. Census Bureau data as interpreted by CNNMoney, the suburbs have the highest concentration of wealthy people, more so than cities. The wealthy tend to stay near major population centers, according to the study. For example, the region with the highest concentration of wealthy households in the nation is Bridgeport-Stamford-Norwalk, Conn., which is just north of New York City. Nearly 18 percent of residents there make more than $191,469 per year. In the nation, only 5 percent make that income. The following are the 10 metros with the highest concentration of high-income households, as well as the percentage in each area where households are among the top 5 percent of U.S. incomes. (The study did not take into account the cost of living in these areas.)
  1. Bridgeport-Stamford-Norwalk, Conn.: 17.9%
  2. San Jose-Sunnyvalle-Santa Clara, Calif.: 15.9%
  3. Washington-Arlington-Alexandria, D.C.-Va.-Md.-W.Va.: 14.1%
  4. San Francisco-Oakland-Fremont, Calif.: 13%
  5. Trenton-Ewing, N.J.: 11.6%
  6. New York-Northern New Jersey-Long Island, N.Y.-N.J.-Pa.: 10%
  7. Oxnard-Thousand Oaks-Ventura, Calif.: 9.7%
  8. Boston-Cambridge-Quincy, Mass.-N.H.: 9.7%
  9. Boulder, Colo.: 9.4%
  10. Napa, Calif.: 9.3%
Source: “Where the Rich People Live,” CNNMoney (Feb. 12, 2013)

About Hallmark Condominiums near Holmes Run

The Hallmark Condominium, with 220 spacious one-, two-, and three-bedroom condominium homes, enjoys a prime location in Alexandria, Virginia, with beautiful views over Holmes Run and James Marx All Veterans Park. The Hallmark is convenient to public transportation, the Beatley Central Library, shops, and a local farmers’ market. Hallmark is located at 200 North Pickett Street Alexandria, VA 22304 Hallmark amenities include:
  • attractive grounds,
  • a tennis court,
  • swimming pool,
  • fitness center, and
  • a party room with a fully equipped kitchen
  • Julie Nesbitt

    Julie Nesbitt
    Julie Nesbitt knows the back trails and by-ways of Northern Virginia real estate.

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  • Enjoying Winkler Botanical Preserve

    We had a great time walking the trails. 

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  • Don’t take chances with real estate.

  • REDUCED: 7202 Churchill Rd, McLean

    Open House, Sunday, 1-4 BIG PRICE DROP! 7202 CHURCHILL ROADMcLean, VA 221016 Bedrooms5.5 Bathrooms6,752 SF $1,695,000

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  • Good Shepherd Housing and Family Services

    Fairfax County
    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…

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Alexandria’s Most Expensive Homes for Sale

When nothing but the best will do, check out some of Alexandria's priciest residences.
  • $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…

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  • Property At Villamay For Less Than $933,450

    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.

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  • Latest Listings In 22124

    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…

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  • Searching Arlington Real Estate?

    Principal Broker Will Nesbitt driving his sports utility vehicle Lincoln via Arlington
    Contact Nesbitt Realty (703) 765 0300 http://nesbittrealty.com/about/contact/

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  • A Good Time to Buy a High-End Home

    Station Square
    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…

    Read More

Virginia ranks among states with highest credit scores.

Credit scores from online mortgage shoppers have risen four points since 2011, averaging 734, according to a study by MortgageMarvel.com, which analyzed nearly half a million online mortgage applicants.
Will and Julie Nesbitt
Will and Julie Nesbitt of Nesbitt Realty.
Some states are averaging even higher credit scores, particularly among those states known for having high household earnings. The following are the states with the highest median credit scores among mortgage applicants, according to Mortgage Marvel.com:
  1. California: 774
  2. Hawaii: 771 / Oregon: 771
  3. Wisconsin: 766
  4. Connecticut: 765
  5. Delaware: 764
  6. Washington: 764
  7. Colorado: 763
  8. Rhode Island: 763
  9. New Hampshire: 762 / Virginia: 762
  10. Maryland: 761
The states with the lowest median credit score among mortgage applicants are Arkansas (691) and Mississippi (698), according to MortgageMarvel.com. Source: “Link Between Credit and Mortgages: Not What You Think,” CNBC (Jan. 24, 2013)

Condos Near Reagan National Airport

Ronald Reagan National Airport
Ronald Reagan National Airport
Ronald Reagan Washington National Airport (also called Reagan National Airport) is located in Arlington County Virginia in close proximity to the neighborhoods of Crystal City and Aurora Heights. Reagan National is a metro rail stop on both the Yellow and Blue lines. The runway is a 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. 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.
Reagan National as seen from the Metro Station
Reagan National as seen from the Metro Station
The airport 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.

Crystal City Condos For Sale

Aurora Hills Homes for Sale

  • Julie Nesbitt

    Julie Nesbitt
    Julie Nesbitt knows the back trails and by-ways of Northern Virginia real estate.

    Read More

  • Enjoying Winkler Botanical Preserve

    We had a great time walking the trails. 

    Read More

  • Don’t take chances with real estate.

Take a look at garden-style condos at Old Town Gardens

Old Town Gardens is a garden-style condominium community at the southern end of Old Town Alexandria VA.  It is similar to condo communities like Belle View, Harborside, Auburn Village or Potomack Crossing.

For Sale