1. Research before you look. Decide what features you most want to have in a home, what neighborhoods you prefer, and how much you’d be willing to spend each month for housing.
entrance to Midtown Alexandria Station condos
2. Be realistic. It’s OK to be picky, but don’t be unrealistic with your expectations. There’s no such thing as a perfect home. Use your list of priorities as a guide to evaluate each property.
3. Get your finances in order. Review your credit report and be sure you have enough money to cover your down payment and closing costs. Then, talk to a lender and get prequalified for a mortgage. This will save you the heartache later of falling in love with a house you can’t afford.
4. Don’t ask too many people for opinions. It will drive you crazy. Select one or two people to turn to if you feel you need a second opinion, but be ready to make the final decision on your own.
5. Decide your moving timeline. When is your lease up? Are you allowed to sublet? How tight is the rental market in your area? All of these factors will help you determine when you should move.
6. Think long term. Are you looking for a starter house with plans to move up in a few years, or do you hope to stay in this home for a longer period? This decision may dictate what type of home you’ll buy as well as the type of mortgage terms that will best suit you.
7. Insist on a home inspection. If possible, get a warranty from the seller to cover defects for one year.
Julie Nesbitt
8. Get help from a REALTOR®. Hire a real estate professional who specializes in buyer representation. Unlike a listing agent, whose first duty is to the seller, a buyer’s representative is working only for you. Buyer’s reps are usually paid out of the seller’s commission payment.
9. Check out Nesbitt Realty. Our search tools and tips are among the best you'll find in Northern Virginia.
What is an ABR?
ABR is short for Accredited Buyer Representative. The Accredited Buyer’s Representative (ABR®) designation is designed for real estate buyer agents who focus on working directly with buyer-clients. When you work with an Accredited Buyer's Representative you know that your rights are represented by a professional agent who is trained and experienced in handling the needs of buyers. There are four requirements which a real estate agent must meet to attain and use the ABR® designation:
Previous and documented experience representing the needs of buyers and experience actually closing real estate sales.
Successful completion the Accredited Buyer’s Representative (ABR®) Designation Course.
Successful completion of one of the ABR® elective courses.
Membership in good standing in the Real Estate Buyer’s Agent Council (REBAC) and the National Association of REALTORS®.
Prices are rising and inventories are falling in markets throughout the United States, which has led financial reporting and forecasting firm Kiplinger to declare the housing recovery “firmly” in motion. Moreover, the company says housing will help carry the overall economy at a time when U.S. exports are decreasing, says Karen Mracek, a Kiplinger editor and real estate analyst.
Julie Nesbitt
“The biggest reason we think we’re on firm ground is that we’re seeing every indicator on the way up,” Mracek says. “As with the overall economy, it’s kind of hard to call the bottom or the pivot point. But we’re seeing a range of indicators that suggest pretty solid growth going forward.”
In addition to home values and supply, positive indicators include the number of multiple-bid situations, new-home construction, and credit availability, she says. Solid improvements in these fundamentals will lead to formation of more new households and will also help more borrowers come out from underwater — and trade up to a new home. They’ll also create new jobs in real estate and construction, Mracek explains.
The recent gains made in housing have some concerned that real estate could be entering another bubble market, but Mracek disagrees with that assessment. “There might be [a bubble] in some concentrated markets,” she says. “But I don’t think it will be a bubble that’s as widespread and disastrous as the one that happened in the last decade.”
Improvements have been — and will continue to be — uneven. The turnaround will probably be slower in metro areas in Florida and the Midwest.
Nationally, Mracek says the current housing recovery is real and sustainable, but she also acknowledges that the rise in home values and decline in inventories won’t maintain their current pace.
“We see prices leveling out a bit more [in the future] from the late jumps in 2012,” she says. “There are still foreclosures for the banks to work through. As prices improve, you’re going to see banks get rid of REOs.”
— Brian Summerfield, REALTOR® Magazine
Reviving A Stale Listing In 22314 In Alexandria In 22314
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Julie sold another!
Existing-home sales edged up in January, while a seller’s market is developing and home prices continue to rise steadily above year-ago levels, according to the National Association of REALTORS®. Sales rose in every region but the West, which is the region most constrained by limited inventory.
Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 0.4 percent to a seasonally adjusted annual rate of 4.92 million in January from a downwardly revised 4.90 million in December, and are 9.1 percent above the 4.51 million-unit pace in January 2012.
Lawrence Yun, NAR chief economist, said tight inventory is a major factor in the market. “Buyer traffic is continuing to pick up, while seller traffic is holding steady,” he said. “In fact, buyer traffic is 40 percent above a year ago, so there is plenty of demand but insufficient inventory to improve sales more strongly. We’ve transitioned into a seller’s market in much of the country.”
Total housing inventory at the end of January fell 4.9 percent to 1.74 million existing homes available for sale, which represents a 4.2-month supply at the current sales pace, down from 4.5 months in December, and is the lowest housing supply since April 2005 when it was also 4.2 months.
Listed inventory is 25.3 percent below a year ago when there was a 6.2-month supply. Raw unsold inventory is at the lowest level since December 1999 when there were 1.71 million homes on the market.
“We expect a seasonal rise of inventory this spring, but it may be insufficient to avoid more frequent incidences of multiple bidding and faster-than-normal price growth,” Yun explained.
The national median existing-home price for all housing types was $173,600 in January, up 12.3 percent from January 2012, which is the 11thconsecutive month of year-over-year price increases; that last occurred from July 2005 to May 2006. The January gain is the strongest since November 2005 when it was 12.9 percent above a year earlier.
Distressed homes — foreclosures and short sales — accounted for 23 percent of January sales, down from 24 percent in December and 35 percent in January 2012. Fourteen percent of January sales were foreclosures and 9 percent were short sales. Foreclosures sold for an average discount of 20 percent below market value in January, while short sales were discounted 12 percent.
According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage rose to 3.41 percent in January from a record low 3.35 percent in December; it was 3.92 percent in January 2012.
Sales Trends
NAR President Gary Thomas said homes are selling faster. “The typical home is selling nearly four weeks faster than it did a year ago,” he said. “In this environment, REALTORS® can help buyers strike a balance between moving quickly and protecting their interests, such as making offers contingent upon a satisfactory home inspection and obtaining a loan; of course, a loan pre-qualification may help too.”
The median time on market for all homes was 71 days in January, down from 73 days in December and is 28.3 percent below 99 days in January 2012. Short sales were on the market for a median of 94 days, while foreclosures typically sold in 47 days and non-distressed homes took 75 days; 31 percent of all homes sold in January were on the market for less than a month.
First-time buyers accounted for 30 percent of purchases in January, unchanged from December; they were 33 percent in January 2012.
All-cash sales were at 28 percent of transactions in January, down from 29 percent in December and 31 percent in January 2012. Investors, who account for most cash sales, purchased 19 percent of homes in January, down from 21 percent in December and 23 percent in January 2012.
Single-family home sales increased 0.2 percent to a seasonally adjusted annual rate of 4.34 million in January from 4.33 million in December, and are 8.5 percent above the 4.00 million-unit level in January 2012. The median existing single-family home price was $174,100 in January, up 12.6 percent from a year ago.
Existing condominium and co-op sales rose 1.8 percent to an annualized pace of 580,000 in January from 570,000 in December, and are 13.7 percent higher than the 510,000-unit level a year ago. The median existing condo price was $169,600 inJanuary, up 9.4 percent from January 2012.
Performance by Region
Regionally, existing-home sales in the Northeast increased 4.8 percent to an annual rate of 650,000 in January and are 12.1 percent above January 2012. The median price in the Northeast was $230,500, up 2.4 percent from a year ago.
Existing-home sales in the Midwest rose 3.6 percent in January to a pace of 1.16 million and are 17.2 percent higher than a year ago. The median price in the Midwest was $131,800, which is 8.6 percent above January 2012.
In the South, existing-home sales increased 1.0 percent to an annual level of 1.96 million in January and are 14.0 percent above January 2012. The median price in the South was $152,100, up 13.4 percent from a year ago.
Existing-home sales in the West fell 5.7 percent to a pace of 1.15 million in January and are 5.7 percent below a year ago. The median price in the West was $239,800, which is 26.6 percent above January 2012.
Source: NAR
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…
$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…
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.
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…
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…
Sweet Frog Premium Frozen Yogurt is located at 3219 Duke Street, Alexandria, VA 22314. Their phone number is (703) 751-3764. Sweet Frog is set up as a serve yourself frozen yogurt shop. Sweet Frog has a lot of flavor choices and topping choices.
Sweet Frog is close to Duke St. skatepark. Also nearby is Oriental Star restaurant and Lone Star steak house. Sweet Frog is a short drive from Landmark Mall. Nearby condo's include the Royalton, the Plaza, the Jamieson and the Henry.
Welcome to Sweet Frog
Sweet Frog is close to Old Town Alexandria
Sweet Frog is close to Philadelphia Cheesesteak Factory
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…
Das Best Oktoberfest 2012 took place at National Harbor in Maryland. The Oktoberfest featured all you can drink tickets as well as designated driver tickets. The event had several tents with a variety of business vendors. Das Best Oktoberfest featured live music at three different stages.
The event lasted two days. The event attracted a large crowd on both days. National Harbor is a popular venue throughout the year. National Harbor is close to the Woodrow Wilson Bridge.
The National Harbor Oktoberfest was near Nando’s Perri Perri
Das Best Oktoberfest featured a variety of food vendors
A cover band kicks off another crowd pleaser
A tobacco vendor presents a variety of cigars
The Oktoberfest was a few blocks away from the Gaylord which is also at National Harbor
A vendor displays for sale furniture
Das Best Oktoberfest took place on September 22nd and 23rd
National Harbor features a trail that crosses the Woodrow Wilson bridge
Via Veneto is located at 1309 Shenandoah Rd. Alexandria, VA 22308 (Hollin Hall Shopping Center just off Ft. Hunt Rd). The phone number for Via Veneto is 703.765.6661. The restaurant is close to Safeway, the Variety Store, a gas station, a Chinese food restaurant, a 711, and various other shops and businesses. Via Veneto is open for lunch Monday through Friday and dinner all week.
Via Veneto serves authentic delicious Italian food. This area of Fort Hunt is near Walt Whitman middle school and Carl Sandburg middle school. The nearest library is Sherwood Hall library. Hollin Hall and Hollin Hills offer a very peaceful atmosphere.
Via Veneto is a short drive from Old Town Alexandria
The KORUS festival took place at the special event center at Bull Run Regional Park, Centreville Va. The event lasted 3 days. The KORUS Festival is organized by the Korean American Association of Washington Metropolitan Area (KAAW). The KAAW try to share their culture with the community.
The festival featured live music. Vendors sold authentic Asian dishes. The festival attracted a lot of people. At one time during the show the performers taught the audience how to dance to Gangnam Style.
The KORUS festival showcased Korean Pop music
Vendors preparing food for the KORUS festival
The festival lasted until 10pm each night
Bull Run Regional Park hosted the KORUS festival
A close up of a freshly served entre
The KORUS festival has taken place for the past 10 years
Bull Run Regional Park filled with people
Traditional dancers entertain at the KORUS festival
Foxchase shopping center is located on Duke St. in Alexandria VA. This shopping center has a variety of shops including: Authentically Amish, Harris Teeter, Chipotle, etc. This area of Alexandria is close to Landmark Mall. Foxchase Shopping Center is close to several condominiums including the the Plaza, Olympus, the Sentinel, and Watergate at Landmark.
Foxchase is close to Ben Brenman park. Also on Duke St. is Beatley library. Foxchase shopping center has ample parking. Foxchase Shopping Center has a martial arts facility.
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…
Ronald Reagan Airport is located at 1 Aviation Circle, Arlington, Virginia. The airport is close to Old Town Alexandria, inside of Arlington and near Washington DC. Ronald Reagan Airport is a primary transportation hub for Northern Virginia and DC. The next closest airport is BWI which is in Maryland.
Ronald Reagan Airport has a metro stop accessible by the blue and yellow line. Near the airport there are several trails. Further from Old Town and closer to DC there is a marina with boats. The marina waters are great for fishing.
Ronald Reagan Airport is a common segway for military
Ronald Reagan Airport services Northern Virginia and DC
Powtomack Crossing is a condominium near Ronald Reagan Airport
Ronald Reagan Airport is close to Old Town which has several parks
Ronald Reagan Airport is close to Old Town which has many bars on King St.
When you work with an Accredited Buyer's Representative you know that your rights are represented by a professional agent who is trained and experienced in handling the needs of buyers. There are four requirements which a real estate agent must meet to attain and use the ABR® designation:
