There'll soon be a row of new townhomes in the Buckingham neighborhood, south of Ballston in Arlington, Va.
Rendering of Trenton Square townhomes in BallstonContinue reading
Finally, Ballston Quarter is open for business in the old Ballston Mall area. We have waited through several years of road delays, detours and construction, so I'm excited for to finally have this completed. But how will this affect your real estate?
Glebe Road near the old Ballston Common Mall and Ballston MetroContinue reading
Amazon is leasing more space in Crystal City as it continues to grow its second headquarters in Arlington.
According to a recent article by Patch.com, Amazon has leased more than 47,000 square feet of space at National Landing -- an area that encompasses Crystal City as well as parts of Pentagon City and Potomac Yard in Alexandria -- from developer JBG Smith Properties, which owns most of the buildings in the area.
Streetside in Crystal CityContinue reading
Are you thinking about spending $1,265,000 on waterfront real estate in Alexandria VA? Robinson Landing is now in pre-construction. Nesbitt Realty represents buyers (at no extra cost) who want an advocate when dealing with a builder.
Continue reading
Nothern Virginia Condo Experts
If you're thinking of buying a newly-built condo or new house, you probably already know that every new development will have its own sales staff. These people are often friendly, helpful and very knowledgeable about the new development. However, these folks work to sell this property only, because the sale staff works for the builder. The on-site staff of a new condominium knows the property as-well-as or better than anyone around and they are there to assist you but they work for the builder. The staff at a new home development probably knows the property very well, but they will tell you want the builder wants you to know.
When in the market for a new construction, it's a good idea to work with a Realtor who is there to protect your interests. A Nesbitt Realty agent knows the entire area, not just one development. If you have your own Realtor you can trust that you'll understand the pitfalls and benefits of buying new. Best of all it doesn't cost you one dime more than if you use the onsite staff. You have a right to representation: exercise that right today!
The Henry is a brand new condominium community located in Old Town Alexandria---sort of . . .
The builder will tell you that the Henry is in Old Town Alexandria and this is almost completely true. But the truth of that statement that really comes down to how you define Old Town.
If you define Old Town as the 22314 Zip Code then the Henry is in Old Town without question. Addresses in 22314 run from Slaters Lane in the North, along the Potomac and down to the Beltway. The western boundary of this zip code runs along the train tracks over toward Telegraph Road. That means that 22314 includes the Carlyle District (which is anything but "old"), Potomac Greens (a fairly new subdivision), and other parts of the city which are not really historic Old Town Alexandria. Please reference the map provided by Yahoo to get an idea of the subtle differences in the Old Town area.
This map is provided by Yahoo! Please click the image to see the map on Yahoo.
If you look close at the map, you'll see that Yahoo divides the 22314 Zip code into these neighborhoods:
Northeast Alexandria -- This is an area of tightly-packed colonial-style townhomes that were built in the 1980's in developments like Nethergate. There are also newer communities straddling Slaters Lane like Potomac Greens and Old Town Crescent.
Braddock Road Metro --- This is the neighborhood where the Henry is located. More below.
Old Town --- This is the heart of Old Town. It's where you'll find the shops homes and restaurants that make Old Town such a desirable place to live.
Southwest Quadrant --- This is a neighborhood composed mostly of modest brick rowhouses and townhouses that were constructed in the middle of the last century. These well-built, conveniently situated homes have little cachè that you'll find in the waterfront homes and stately villas in Old Town.
Eisenhower East --- The Carlyle area is mostly newly built high-rises surrounding the campus of the USPTO.
I don't know if these neighborhood names are constructs of some data provider for Yahoo or if they are from some census-related information, but these little neighborhoods are fairly accurately defined even if they don't exactly match-up to what people call them here on the ground. The Henry is in Braddock Road Metro in an area that included some of the least desirable addresses in this Zip code. This neighborhood is well-served by the Braddock Road Metro Station and that's always a big plus to real estate values in Northern Virginia. Many homes here are just a few blocks from King Street and a pick-up point for the King Street Trolley, so the question is what made this neighborhood less desirable?
Firstly the big obvious difference is the waterfront. One of the elements of life that makes Old Town living special is proximity to the Potomac River. Ford's Landing, Cameron Mews and the Torpedo Factory offer homes that are at or near the water's edge and the Mount Vernon Trail. The Henry is not close to the waterfront and you'll have to cross a couple of busy streets to get to the Potomac.
The next difference is access to King Street. People like living a few paces from King Street because there are so many restaurants and boutiques along King Street. This is even more true at thew waterfront. The Henry is only a few blocks from King Street so that is a plus. The Braddock Road neighborhood has almost nothing of commercial interest, whereas Old Town, Carlyle, and even Slater's Lane have some interesting options for shopping and dining. This may change as the neighborhood develops but for now, it is what it is.
The next big difference is public housing. The 22314 zip code has long had a cluster of public housing that straddled Route 1 (Patrick and Henry Streets) and much of that housing was/is located in close proximity to the Braddock Road Metro. About 10 years ago a large chunk of Alexandria's public housing was destroyed and redeveloped as Chatham Square. That development was so successful that the city is now pushing forward with Old Town Commons. To that end blocks of subsidized housing have been destroyed to make way for Old Town Commons. Until that construction is completed I expect that the appearance and value of the neighborhood will be diminished.
Lastly, this area was (like much of Old Town North and even Old Town) formerly a light-industrial neighborhood. For example the Torpedo Factory was at one time a place where actual torpedoes were built. Today the Torpedo Factory Art Center and the Torpedo Factory condos occupy the same space and some of Alexandria's priciest real estate. Time will tell if the transition is as remarkable at the Henry, but the odds are in favor of this becoming a successful and highly desirable neighborhood.
View Larger Map
The street view of the Henry looks almost surreal it's so pleasant, but turn the map to view across the street and you'll see the warehouses. The good news is that one day these will probably be gone. The bad news is that what replaces them will probably block the view.
Here are some of the basics about title insurance:
1. Every mortgage lender requires title insurance. Title insurance protects the lender and the secondary markets to which they sell the loans from defects in the title to your home and property. It ensures the validity and enforceability of the mortgage document. Title defects could include mistakes made in the local property office, forged documents and claims from unknown parties. The amount of the policy is equal to the amount of your mortgage at its inception. You pay a one-time fee as part of your closing costs. If you are purchasing a home, you should also purchase an owner’s policy which provides coverage up to the purchase price of the home you are buying. In some states it is customary for the seller to purchase the owner’s policy on your behalf.
2. You have the right to choose your title insurance provider! You can shop around for a lower insurance premium rate on line at sites, or you can also ask your lender or real estate professional for help in getting quotes.
3. Check the companies out before you select one. Make sure the title insurance company you choose has a favorable Financial Stability Rating® with Demotech, Inc., the leading title insurance rating company.
4. It’s easy to save money on title insurance. Request quotes from a few companies and then reach out and speak to them. Ask about hidden fees and charges which could make one quote seem more attractive than another. Ask about discounts. There are often discounts available if you are refinancing and sometimes even when you are purchasing if the current policy issued to the seller on the property isn’t too old.
5. Even new construction needs coverage. Even though the home is new, the land isn’t. There may be claims to the land or liens placed during the construction which could negatively impact your home.
For more information or to set up an appointment call Julie at (703)765-0300.
Housing starts surged in February as well as future permits for future construction to the highest levels since 2008 -- a sign that the new-home market is picking up steam just in time for the spring buying season, the Commerce Department reported Tuesday.
Overall housing starts rose 0.8 percent in February to a 917,000 annual rate. Single-family housing starts, which make up the biggest bulk of that total, reached their highest level since June 2008. Meanwhile, multifamily starts rose 1.4 percent in February to 299,000 units.
"Demand for new homes and apartments is definitely rising as the spring buying season approaches and more young people move out on their own," said Rick Judson, chairman of the National Association of Home Builders. "Builders are responding to this improved demand by putting more crews back to work and pulling more permits for future construction, though this positive activity is being constrained by continuing issues with appraisals and credit availability for both builders and buyers, and also by newly arising challenges such as lot shortages and increased costs for labor and materials."
While housing starts have shown a big improvement in the past year, economists say that homebuilding is still less than half of what it was during its prerecession peak and is near levels in the early 1990s.
Source: National Association of Home Builders and “Housing Starts at Highest Level Since 2008,” Reuters (March 19, 2013)
Are you looking for a new condo or a newly built home? The on-site staff works for the builder. Our brokerage represents the buyer's interests and doesn't work for the builder. Start your search here to see our suggestions.
Nesbitt Realty doesn't work for the builder. We work for you and we'll help you find the best new home for you. Best of all there is no charge to the buyer for our services!