This is an old post first put up before 2009. I got a chuckle out of it and thought I'd share with you.
When I come home exhausted it's tough to remember (much less explain) what the heck I did all day.
A lot of times, I answer calls. I get calls from renters who want to rent condos and townhouses. I get calls from buyers who want to make appointments or who just have questions. I talk to landlords who use our property management services.
Sometimes I really don't know the answer. But when I don't know the answer, I don't make it up. I do my research and then I get back to my client.
Sometimes I get the call that lets me know that the contract went through. We got it! But sometimes I find out there's a hitch or a catch. That's when my Priceline Negotiator comes out.
That means it's time for some tough negotiating. It's never fun to do that part.
Yes, there are some bumps in the road, but it always works out the way it's supposed to. When I call back my clients and tell them that every thing is going to be great, I feel proud and satisfied.
My wife snapped this series of pictures while I was working this morning.
"I care about my clients and enjoy making their dreams come true."
One of the greatest skills that a Realtor can bring to the table for you is a knowledge of property values across a wide range of areas. For a seller or landlord, this means you strike the right balance between getting the most value from your home and selling or renting it in a time frame that allows you to either move or capitalize on your investment.
Simply looking at a neighbor's property and assessing yours based on their sale is fraught with dangers. Realtors factor in not only differences in construction, floor plans, and location, but also have their finger on the pulse of the market. The same stands true equally well for buyers and renters. As a buyer looking for a bargain is key, but setting standards to high for a price range can result in wasted time, or worse yet buying an apparent steal in an area that is an investment nightmare. Renting places you in similar straights. Year long leases can be just as binding as buying a new home, forcing you to suffer through details that a trained Realtor will notice in your new home.
For more information or to set up an appointment call Stuart at (703)765-0300.
Nesbitt Realty never makes any money from your loan. This frees us to make the most objective recommendation possible.
To be eligible for the FHA 203k mortgage loan, the property must be a one- to four-family dwelling that has been completed for at least one year. The number of units on the site must be acceptable according to local zoning requirements. All newly constructed units must be attached to the existing dwelling. Cooperative units are not eligible.
Homes that have been demolished, or will be razed as part of the rehabilitation work, are eligible provided some of the existing foundation system remains in place.
In addition to typical home improvement loan projects, the FHA 203-k mortgage loan program can be used to convert a one-family dwelling to a two-, three-, or four-family dwelling. An existing multi-unit dwelling could be decreased to a one- to four-family unit.
An existing house (or modular unit) on another site can be moved onto the mortgaged property; however, release of loan proceeds for the existing structure on the non-mortgaged property is not allowed until the new foundation has been properly inspected and the dwelling has been properly placed and secured to the new foundation.
health and safety of the occupants of the residential property; and (3) the rehabilitation funds will only be used for the residential functions of the dwelling and areas used to access the residential part of the property.
What is the minimum amount of repairs required on a FHA 203k home improvement loan?
Huntington is in Alexandria 22303
There is a minimum $5,000 requirement of eligible home improvement loan projects on the existing structure of the property. Minor or cosmetic repairs may be included after meeting the first $5,000 worth of repairs.
What are some of the repairs that qualify for the first $5,000?
Structural alterations and reconstruction: (Repair or replacement of structural damage, chimney repair, additions to the structure, installation of additional bath(s), skylights, finished attics and/or basements, repair of termite damage and the treatment against termites);
Elimination of health and safety hazards;
Changes for aesthetic appeal:
(New siding, adding a dormer, covered porch, attached garage);
Air Conditioning or replacement:
(plumbing, heating, air conditioning and electrical systems);
Installation of well, septic system or connection to public utilities;
Roofing, Gutter Downspouts, Flooring, Tiling and carpeting;
Major landscape and site improvement;
Improvements to improve accessibility and functions for the disabled.
What are the qualifications to be able to obtain a FHA 203-k loan?
Columbia Terr is in Arlington 22204
The qualifications requirements are the same as a typical FHA mortgage loan. The only additional item that the borrower needs is either enough cash reserved to pay for materials and labor until they are reimbursed through a draw, or a credit card with an adequate available balance. If there is to be a contractor involved, the contractor may choose to cover these costs.
The interest rate on a typical FHA 203k mortgage loan is a little higher than a standard FHA or conventional 30/15-year fixed-rate loan. The cash requirements are the same as an FHA loan, 3 percent to 5 percent, which is less than a typical conventional loan. There are a couple of additional fees which pertain to the construction aspects of the FHA 203k loan.
Can I pick my own contractor to do the work?
Amin & Will in Lowes
You may decide on your own contractor, and they should be brought into the process in the beginning stage of the loan process. Check out the credentials of the contractor thoroughly, making sure he is knowledgeable in all aspects of rehabilitation work.
The home improvements or repairs need not be made before moving into the property, depending on how extensive the repairs are and whether the house is habitable while the repairs are being made. The home improvement loan provides the ability to include up to 6 months of mortgage payments in the improvement escrow, should you not be able to occupy the property and have to pay rent during rehabilitation.
Can the FHA 203k loan be used to improve a condominium unit?
Templeton Of Alexandria is in Alexandria 22304
Yes, however, condominium rehabilitation is subject to the following conditions:
Owner/occupant and qualified non-profit borrowers only;
Rehabilitation is limited only to the interior of the unit. Mortgage proceeds are not to be used for the rehabilitation of exteriors or other areas which are the responsibility of the condominium association, except for the installation of firewalls in the attic for the unit;
Only the lesser of five units per condominium association, or 25 percent of the total number of units, can be undergoing rehabilitation at any one time;
The maximum mortgage amount cannot exceed 100 percent of after-improved value. After rehabilitation is complete, the individual buildings within the condominium must not contain more than four units.
By law, FHA 203k loans can only be used to rehabilitate units in one-to-four unit structures. However, this does not mean that the condominium project, as a whole, can only have four units or that all individual structures must be detached. Example: A project might consist of six buildings each containing four units, for a total of 24 units in the project and, thus, be eligible for an FHA 203k loan. Likewise, a project could contain a row of more than four attached townhouses and be eligible for a FHA 203k loan because HUD considers each townhouse as one structure, provided each unit is separated by a 1 1/2 hour firewall (from foundation up to the roof). Similar to a project with a condominium unit with a mortgage insured under Section 234(c) of the National Housing Act, the condominium project must be approved by HUD prior to the closing of any individual mortgages on the condominium units.
For more information or to set up an appointment call Julie at (703)765-0300.
Four Winds of Oakton
In an area crisscrossed with high volume commuter routes and heavily-trafficked Interstates, it's inevitable that some folks are going to live in close proximity to a highway. It's great to be near the Beltway or Route 66 because this can take a serious bite out of your commute. But the downside is that the highways can generate a lot of noise. In most areas, there are towering concrete walls to dampen sound in the neighborhoods in close proximity to the Beltway, I-66, I-395 and other highways.
Beltway traffic at speed
In the picture above the wall has been taken down as work crews expand the road. Once the expansion is completed, they'll reassemble the wall. There's not much you can do about construction, but once the wall is back up, the neighborhood should be relatively quiet. In the homes and condos closest to the walls, I find that the noise sounds a bit like a waterfall---a wooshing white noise that is not particularly offensive. The noise is perhaps worst near an exit. Exit ramps create noise because every so often a trucker exiting the highway will use his "jakebrake". That is to say, the truck will gear down and emit a loud, low growling noise not unlike a Harley Davidson's loud pipes.
Here's a thought to consider if you are purchasing a condominium near the highway. In my travels I've found that the condos at the ground floor are much quieter. This is because the condos on the top floor are often just above the sound-break and therefore get the full brunt of the highway noise. Some folks like the noise ... it sounds like busy and they like being in the city. Some folks can't stand the noise and find out the hard way ... after they've purchased ... that they could have gotten a first or second floor unit.
The lower floors hear little traffic noise in this diagram but the upper floors hear traffic all day.
For more information or to set up an appointment call Nesbitt Realty at (703)765-0300.
There is seating at the front of the shop to take a cup of coffee.Grape and Bean is just another example of an Old Town artisan boutique. Shops like Grape and Bean, or as they call themselves Grape + Bean, are community assets and part of what makes Old Town so special. Long-time Alexandria residents David Gwathmey and Sheera Rosenfeld opened Grape & Bean in 2008. Together they have managed to create a place that is comfortable, warm and welcoming, while offering excellent service and high quality products.
Grape and Bean is a retail wine shop, coffee shop and a wine tasting bar. Along with wine by the glass and coffee by the cup, Grape and Bean offers a food menu with cheese plates and other items that are tailored for sharing. As a wine and coffee shop, Grape and Bean of course retails wine by the bottle and coffee by the pound. I find that they are an excellent resource for gift baskets, and they'll really put the time in to help you make your best selection.
Grape + Bean offers a well-stocked wine inventory.Nesbitt Realty can help you buy and sell real estate in Old Town South.
Bungalow drawing
These narrow, rectangular one and one-half story houses originated in California during the 1880s as a reaction to the elaborate decoration of Victorian homes. The style then moved eastward to the Midwest in the early 20th century, where it remained popular until the Great Depression.
Bungalows have low-pitched gabled or hipped roofs and small covered porches at the entry. The style became so popular that you could order a bungalow kit from Sears and Roebuck catalog. The name "bungalow" had its origins in India, where it indicated a small, thatched home.
There are several neighborhoods in Northern Virginia were bungalows are not uncommon. Burgundy Village is near the Huntington Metro and many homes there were originally bungalows. There are quite a few bungalows in Del Ray in Alexandria Virginia.
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.
Canadian Geese at River Towers
Winter in Northern Virginia can be a little bleak at times. The foliage is gone from the trees, and the grass is a little beat.
But River Towers is teaming with life. A flock of Canadian geese winters here at the creek which surrounds River Towers. One of the pleasures of living at River Towers is the sound of the geese when they take off together or come in for a landing. From the higher floors of the high-rise residents can watch the geese fly by at eye level and almost within arm's reach--a beautiful sight.
Winter berries add some color to the scenery.
Ducks are here year-round, as they like the gentle waters of the canal.
It's not a great time for a picnic, but it's always pleasant to walk through the natural areas surrounding River Towers. River Towers backs up against the Dyke Marsh, a national wildlife preserve that is home to a good many waterfowl and at least one pair of beavers that I've seen. Normally the geese stay close to the marsh and don't approach the buildings at River Towers, but I suppose this year, they've had enough of the snow.
Geese at River Towers
If you're seeking a home that is close to Old Town, close to the Potomac and you don't want to break the bank, River Towers is a great place to investigate any time of the year.
A lot of times, I answer calls. I get calls from renters who want to rent condos and townhouses. I get calls from buyers who want to make appointments or who just have questions. I talk to landlords who use our property management services.
Sometimes I really don't know the answer. But when I don't know the answer, I don't make it up. I do my research and then I get back to my client.
Sometimes I get the call that lets me know that the contract went through. We got it! But sometimes I find out there's a hitch or a catch. That's when my Priceline Negotiator comes out.
That means it's time for some tough negotiating. It's never fun to do that part.
Yes, there are some bumps in the road, but it always works out the way it's supposed to. When I call back my clients and tell them that every thing is going to be great, I feel proud and satisfied.
My wife snapped this series of pictures while I was working this morning.
