Will Nesbitt in the consultation room
I'm going to buy a home, what's the process?
Go to your bank or lending institution to obtain pre-approval. As part of this you will discover what amount it is willing to lend. This is important both to know your budget and to ensure that your offers are accepted. Failure to pre-approve can ruin your chances for success later.
Sit down with a Realtor to see what's available, what meets your needs, and to discover the hidden dangers in home buying.
Once you have found a property you wish to buy you can proceed with an offer. Your Realtor will provide invaluable assistance by performing a competitive market analysis, a snapshot of recent home sales and their amounts, to determine what will make an offer that gets you the best possible price, without having the seller walk away.
The seller reviews the offer; if it is rejected, the seller may make a counteroffer. This process can continue back and forth until both parties ratify and accept the offer making the offer a ratified contract.
A ratified contract then puts into motion a host of background tasks that proceed invisibly to ensure your new home is in good order:
Home inspected for condition, damage and hidden surprises
Appraisal to ensure the banks investment is covered by the value of the home
Loan approval to secure funds for the purchase of your home
Title Search to ensure the seller really has full right to sell your home
Walk-through inspection to ensure nothing changes at the last minute with the property
At settlement the lender's money and the title transfer come together to deliver you ownership of your new home.
Now it's time to move in!
For more information or to set up an appointment call Julie at (703)765-0300.
Selling A House As Is: What Does It Mean To You As The Buyer?
What goes through your mind when you see the term "as-is" in a property listing in Arlington? While some people may see this as a warning, others like real estate investors may see it as an opportunity. But what exactly does "as-is" mean?
5 Questions to Ask a Home Inspector in Northern VA
Home buyers in Northern Virginia are well advised to interview a home inspector before hiring that inspector. What should you ask if you're going to hire a home inspector in Arlington, Alexandria or Fairfax County? Here are a few ideas for questions.
Title insurance protects the policy owner against loss in the event that the property’s title or legal ownership is something other than insured. It helps ensure that the property owner is assuming clear title for the real estate being purchased. Title insurance is different than other types of insurance in that it offers protection against…
Today we're featuring this property for sale at River Towers in Alexandria Virginia. We highlight properties that are interesting, unique or just good deals. This 1 bedroom property is listed for $168,000. We like to keep our eyes open for home buying opportunities for our clients.
Get pre-approved. Pre-approvals inform the seller that you can afford to purchase their home and that you've met with a lender who has agreed to finance your purchase. You will also know how much you are qualified to borrow. No sense in looking at $500,000 homes when you only qualify for a $400,000 home.
Find the right Agent. Buying a property is one of the biggest undertakings you will face in your life so it pays to have a professional who will be with you every step of the way. It makes sense to work with someone who has more education and experience than you. At the end of it all, hiring a real estate agent will save you time and money.
Educate yourself on the cost. There is more to buying a home than just the purchase price. Closing costs, inspections, appraisal, moving fees, homeowners association, homeowners insurance, and other fees are often a surprise to unprepared buyers.
Stuart Nesbitt with Spring attire
According to National Association of Realtors' 2008 Profile of Home Buyers and Sellers, now over 80% of people use the Internet as a primary tool in their search for a new home. Sites like NesbittRealty.com are used by more and more people every day. Some claim that, "Internet condo buyers devote more time to research before working with a real estate agent. But after that, they move quickly, spending just two weeks looking for a new condo, new home, pre-construction condo, townhome, or loft with an agent."
Although some of our clients know exactly what they want and view only a few homes or condos, many of our clients relentlessly research and analyze neighborhoods and homes before taking time to tour properties listed for sale. We find that our site and our Guide have complemented--not diminished--the role played by our real estate agents and realtors. Most Internet condo, townhome, loft, or single family home buyers use an agent in the home buying process.
Our site provides a convenient method to do research about Northern Virginia home listings. NesbittRealty.com provides resources for home buyers and investors looking for new real estate opportunities. If you're reading this now then you have a clue just how big our Internet presence is. Contact us to sell your home on Condos and Homes today!
If you want to sell your home, Nesbitt Realty can sell the property in {Location_Name} fast and at the best price. Our Realtors are experienced and familiar with the real estate market in Northern Virginia. A Realtor can help you determine the best listing price for your property. We know how to market your home to get the best price as quickly as possibly. Nesbitt Realty knows how the home selling process in {Location_Name} works, so we are ready to assist you every step of the way. Nesbitt Realty has access to the MRIS (our local multiple listing service). MRIS is the MLS database that agents use to find homes for sale in the area. Our agent will add your property to it. Working with a Realtor will make the home selling process run smoothly and much simpler than if you attempt to do it on your own. We're a local family-run business and we appreciate the opportunity to serve your needs.
Learn more about selling your home
Julie Nesbitt
Two ratios are calculated by mortgage lenders to determine a buyer's maximum loan amount:1) the front ratio and, 2) the back ratio.
Front Ratio: The total mortgage payment including principal, interest, taxes and insurance (PITI) as well as any condominium or homeowner association fees divided by your total GROSS income. Traditionally, this ratio must be below 30% Example: With a gross income of $5000 per month, a total mortgage payment (PITI) of $1350, the front ratio would be 27%.
Back Ratio: The total mortgage payment PLUS any car payments, credit card and any other loan payments including student loans divided by your total GROSS income. Traditionally this must be below 40%. Example: With a gross income of $5000 per month, a total mortgage payment of $1350, a car payment of $325, 1 credit card payment of $60 and 1 student loan payment of $150 for a total of $1885 with a back ratio of 38%.
For more information or to set up an appointment call Julie at (703)765-0300.
If you need help calculating your ratios, please contact Julie Nesbitt at 703 765 0300.
Nesbitt Realty can help you buy a home in {Location_Name}.
Nesbitt Realty is a tiny 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}.
Nesbitt Realty helps first-time home-buyers realize their home-buying dreams.
Here are seven of the most common mistakes that first-time home-buyers make in Northern VA.
First-time home buyers contact Nesbitt Realty!
Some first-time home-buyers don't do enough to make their offer look appealing to a seller. [Read more about Writing the Offer
Some first-time home-buyers don't think about resale before they buy. The average first-time buyer only stays in a home for four years.
Some first-time home-buyers don't understand how a buyer's rebate can actually hurt their chances of buying a home.
Some first-time home-buyers avoid getting a Realtor® because they wrongly believe they have to pay for a Realtor's advice.
Some first-time home-buyers don't ask enough questions of their lender and end up missing out on the best deal.
Some first-time home-buyers don't act quickly enough to make a decision and someone else buys the house.
Some first-time home-buyers don't find the right agent who's willing to help them through the homebuying process. [Read more about Buyer's Representation]
Nesbitt Realty can help you buy and sell real estate in Fort Hunt.
For more information or to set up an appointment call Nesbitt Realty at (703)765-0300.
Fort Hunt
homes and condos for sale in Fort Hunt area of Fairfax County VA
The best deals on homes these days are often on properties that aren’t perfect. But that doesn't mean that home shoppers looking for a great deal can't find a place with potential.
Location, location, location. You can always fix a property, but you can't always fix the neighborhood. In the long run, home buyers often get a better deal with the worst house in a great neighborhood than with a fancy house in a not-so terrific neighborhood.
Less than 50 years old. Properties older than a half decade are likely to have more fundamental problems — like aging wiring, inadequate plumbing and sagging foundations. In and around Old Town and historic areas, that's not always possible, so shoppers also look for homes that have been completely renovated as opposed to homes with a facelift and fresh coat of paint.
Livable floor plan. It's a good idea to buy a home with a basic design that makes you happy from the start. This is because moving walls can cost a lot of money.
Light. Houses with the most potential have plenty of natural light. Southern facing homes often have the best light.
Good storage. Adding storage isn’t cheap, so it’s smart to choose a property that already has it.
Do you know what "HOA Fees" are?
HOA stands for Homeowners Association, which is an organization that sets by-laws and restrictions in some neighborhoods. The fees associated with this, called homeowners fees, are usually paid annually and cover certain services and amenities associated with a neighborhood. These fees may include services such as landscaping, maintenance, and water and sewer; or amenities such as pools, fitness centers, neighborhood recreational areas, and valet parking. HOA fees usually range from $100-$1000, depending on the location of the home, and can be changed yearly.
A board of directors is usually voted in, and they decide the cost of the fees. Specific by-laws and restrictions are also associated with an HOA. These rules vary from neighborhood to neighborhood and are meant to keep your neighborhood safe and beautiful. Understanding all the by-laws and restrictions before purchasing a home is important so that you know that they are rules that you can live with.
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 {Location_Name}.
The mareket is heating up and now is a great time to buy. And, what's more, tomorrow will be a great time to own, because the fundamental strength of homeownership hasn't changed.
Julie can help you with all your real estate needs.
Here are 10 reasons:
You can get a good deal. Prices are as low as they are going to get for a while. And prices are at a level that makes sense for people's income.
Mortgages are cheap. At 3.75% on average for a 30-year fixed-rate mortgage, your costs to own are down.
You can save on taxes. When you add up the deductions for mortgage interest and others, the cost of owning can drop below renting for a comparable place.
Your money is not wasted on rent. The one benefit to owning that never changes is that you can paint your walls orange if you want (generally speaking; there might be some community restrictions). How many landlords will let you do that?
You can get a better home. In some markets, it's simply the case that the nicest places are for-sale homes and condos.
Home buying offers some inflation protection. Historically, appreciation over time outpaces inflation.
It's risk capital. If the economy picks up, you stand to benefit from that, even if you're goal is just to have a nice place to live.
It's forced savings. A part of your payment each month goes to equity.
Whether you are buying your first home, moving up to your dream home, or downsizing your home and your life after the kids have gone, purchasing a home in {Location_Name} carries considerable financial and psychological weight. For this reason, understanding the ground rules for success when buying a home is important.
When buying a home, making a wise decision can greatly enhance the overall value of the investment; however, making the wrong decision can have devastating and long lasting effects. Learning all you can about the world of of home buying and mortgages is necessary before you set out to purchase your dream home.
Plenty of web sites are available to help first time home buyers, but one-on-one learning is the best way to learn, and the Realtors here at Nesbitt Realty can provide you with that experience.
[learn more about buying real estate]
For more information or to set up an appointment call Julie at (703)765-0300.
Husband and wife discuss Real Estate at the officeNesbitt Realty can help you buy and sell real estate in Alexandria
For a first-time home buyer, one of the most difficult things to do is to just start the process? What does one actually do to buy a home? We've prepared this short list of links to help you begin your home buying quest.
Stuart Nesbitt is a real estate agent serving Northern Virginia.
Affordability Calculator -- How much home can you afford? The affordability will help you determine what your price range.
Buyers Tips -- Simple and effective tips for shopping homes.
The Torpedo Factory is located near the Waterfront and King Street in Old Town Alexandria.
If you are considering buying or selling property, planning to relocate, looking for Alexandria homes for sale, Alexandria condos for sale or looking for any other information about real estate in Alexandria, or the surrounding areas, you have come to the right place.
This complete Alexandria real estate resource for offers everything you will need: access to property listings with photographs and virtual tours, home valuation tools, and real estate articles to help guide you through the home buying or selling process. You can also find contact information for Condo Alexandria / Nesbitt Realty, your Alexandria real estate agent, REALTOR or real estate broker. We can help you with you buy or sell a home, and find information about Alexandria communities , schools, real estate market conditions, recreation and much more!
In addition to detailed listings of existing houses for sale in Alexandria, Condo-Alexandria.com also provides access to Alexandria new construction homes for sale. We also offer a comprehensive local real estate guide for Alexandria where you can find a wealth of community information about Alexandria and specific zip codes in Alexandria. Looking for a different city? We also provide a Northern Virginia real estate guide with a list of other cities and communities in Northern VA.
Those interested in residential real estate in Alexandria will find many types and styles of homes for sale in Alexandria, as well as community events of interest and local amenities unique to the Alexandria area. Others may enjoy outdoor activities and family friendly atmosphere of Alexandria.
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
