Jumbo Mortgage Comeback Helps Lift Luxury Sales

The revival in the luxury real estate market is being fueled by growth in jumbo mortgages, Reuters reports. Jumbo loans typically are more than $417,000. “Jumbo loans are returning to the mortgage market after almost disappearing entirely in the wake of the credit crisis of 2008 and the real estate meltdown,” Reuters reports. “Most lenders stopped making new jumbo loans when the private secondary market dried up in the credit crunch.” But now jumbo loans are coming back. Lenders are reserving jumbo loan approvals to qualified borrowers, and some reportedly are even offering these “once-pricey jumbo loans at interest rates that are barely higher than conventional mortgages,” Reuters reports. "The jumbo market may fare better than the overall mortgage market in 2013," says Guy Cecala, publisher of Inside Mortgage Finance. But while jumbo loan volume was about $200 billion last year, it’s still far below the $348 billion in jumbo loans issued in 2007. Cecala predicts that 2013 volume of jumbo loans will reach about $220 billion. Source: “Jumbo Home Loans Are Back, But Far Below 2007 Levels,” Reuters (Feb. 26, 2013)
  • 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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Get Out of the House and Go to the Local Water Park

Cameron Run is located at 4001 Eisenhower Avenue Alexandria, VA 22304. The phone number for Cameron Run is 703-960-0767. Cameron run is situated in Eisenhower Valley. There are several neighborhoods and condominium communities near this park. Cameron Run features a wave pool, water-slides, and kiddy pools. Also there are batting cages and a putt putt golf coarse at Cameron Run. The water park is a great activity for the whole family during the hot summer months. Cameron Run is a fun hangout for the NOVA area.  

Reasonably priced single family homes near Alexandria

White Oaks is a small subdivision of homes located west of Fort Hunt Road in Fairfax County near Groveton and Beacon Hill. This community is served by Hollin Meadows Elementary, Sandburg Middle and West Potomac High schools.
  • 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.

  • 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

    Read More

  • 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…

    Read More

Plymouth Haven is a quiet neighborhood along Fort Hunt Road

Potomac River
Plymouth Haven is near the terminus of Fort Hunt Road at the Potomac River.
Plymouth Road starts and ends on Fort Hunt Road. This is because it cuts the corner where Fort Hunt Road turns from Vernon View toward the GW Parkway at Fort Hunt Park. Plymouth Road defines the Fairfax County neighborhood of Plymouth Haven. Although many Plymouth Haven homes sport extensive refurbishments and renovations, the original homes of Plymouth Haven are generally modest upper-middle-class homes from the middle of the last century. The desirability of the Plymouth Haven neighborhood and the large lots found there have encouraged builders to knock-down many homes and to build large luxury homes.

Consider Clermont — a quiet neighborhood with a convenient location

Clermont is a subdivision of single-family residences located between Franconia Road and the Capital Beltway. Despite being wedged between these two busy roads homes in Clermont have a wooded suburban feel. Trees here are mature hardwoods and the homes are a mix of older brick homes and newly built homes on a grander scale. The large lots at Clermont invite stately knock-down and rebuilds, but original homes have a lot of charm.

The Many Faces of Penderbrook in Fairfax County

Located just off Route 50 in Fairfax County lies Penderbrook. A quiet community Penderbrook’s faces include: The Fairways -- Town Homes, The Greens -- Executive Style Single Family Homes, The Heights -- Garden Style Condominiums, Inverness -- Town Homes, The Mews -- Town Homes, Oxford House -- Garden Style Condominiums, and Penderbrook Apartments -- Rental Apartments
Although there are many parts to the Penderbrook community, this article will focus on ‘The Greens’.
The Greens -- Executive Style Single Family Homes
One such ‘face’is ‘The Greens’.  A collection of single family homes built by Pulte and by Hooker. Combined they provide about seven (7) different floor plans. Generally all have are 3 levels.  One Pulte floor plan offers a spacious eat in kitchen, separate dining room, step down living room, and a half bath.  Just off the foyer is a den, and a curved staircase to the upper level. Upstairs contains 3 bedrooms, and three full baths. Most of the homes on ‘The Greens’ have 2 car garages. Access to the house from the garage is available in many of the homes.
The community of Pernderbrook is on the north side of U.S. 50, across form Fair Oaks mall.  Penderbrook has easy access to and from interstate 66.  West Ox road, that borders the western edge of Penderbrook, provides access to office buildings and Fairfax Towne shopping center. Fairfax Towne features grocery, banking, a 10 screen theater and many other shops and restaurants. Fair Oaks hospital is also close to Penderbrook.

Reston Opportunity for Options

Reston has been an up and coming city in Fairfax county over the last few years.  The growth it has experienced has given buyers plenty of room to decided what kind of home best meets their need.  Whether you want a neighborhood or city experience.  Reston has definitely got whatever you need.  It has tried to meet he needs of their community by adding several shopping centers and has quickly become one of the premier places to shop, dine, and socialize amongst Northern Virginians. Reston Town Center is located in the hear of city and quite frankly you can drive for several blocks and find something to interest you or your family.  Right around the block from Reston Town Center is another shopping center that offers access to stores like Best Buy, Lane Bryant, Barne's & Nobles, and Men's Warehouse.  There are grocery stores integrated in these shopping centers as well like Harris Teeter.  What's nice is that all of this action is surrounded by quiet neighborhoods of condos, townhomes, or single family homes. Commuters will also be pleased by the ability to get to the metro quickly when trying to beat the morning rush.  Reston straddles the Dulles Toll Road so you never have to worry about getting in and out of the city.  In all honesty, I could go on and on about all that Reston has to offer.  It is one of those places you have to see and experience to understand.  Reston has a lot opportunity for a lot of buyers, it just depends on what your're looking for.

Properties in

Old Bridge Estates

Old Bridge Estates is located in Woodbridge, VA, in Prince William County. All together, there are 862 single-family and townhomes in the community. Its located very close to I-95, I-395, I-495, making it very convenient for any commuters. The community is pretty much surrounded by trees, and many streams and ponds. It seems like a very pleasant, and comfortable place to live. The houses are very beautiful and pretty large. The community is very well taken care of. It also seems to be a very child friendly environment.

Marumsco Village

Marumsco Village is located in Woodbridge, Va, right off of Route 1. Its only minutes away from I-95 which is very convienent to most. The houses are all pretty old. Their streets are very narrow and crowded with cars. The neighborhood seems to be pleasant, however the whole place is very old and possesses a "worn out" look to it. If you're looking for a larger house I wouldn't recommend it, but if you're looking for a smaller, cheaper home, then Marumsco Village may just be the neighborhood for you. There is an elementary school (Marumsco Hills) and a middle school within a mile from the neighborhood, so its convenient if you have younger children.    

Do you work with properties other than condos?

Because we do business as Condo Alexandria, I'm often asked: do you only work with condos? The answer is of course: no. Condo Alexandria works with all types of real estate in the Commonwealth of Virginia. But we do fill several niches and have expertise in a few specific areas that might be of interest to you.
home in Belle Haven
brick home in Belle Haven
Condo Alexandria serves the condo market in Alexandria (mainly in the West End and Old Town), Crystal City, Pentagon City, Arlington, Fairfax County, and Kingstowne. Our focus these days is on buyers and landlords. As a buyer's agent we are well equipped to find the property that suits you needs and make the sale proceed smoothly and quickly. As property manager we take the hassle out of being a landlord. We of course have listings for sale but if the time isn't right to sell, we'll let you know and advise you of your best options. Condo Alexandria also does business as Nesbitt Realty. In the capacity as Nesbitt Realty, we focus on homes and properties near our offices and homes. Our agents and I have particularly good insight in Alexandria especially around Bucknell and Belle Haven, but also in Kingstowne and Old Town. These neighborhoods have condos, but they also have single family homes and town houses. If you have questions or if I can be of service, please don't hesitate to contact me! If you need help finding properties please help yourself to our fast and free database of properties that are currently on the market. The number of listings that are available can sometimes be overwhelming, so feel free to contact me if you'd like for us to do the search.
Photo of Will Nesbitt of Condo Alexandria
Will Nesbitt of Condo Alexandria
Will Nesbitt is the Principal Broker of Condo Alexandria / Nesbitt Realty.