Buying a new home checklist

Are you thinking of buying a new home?

There are several key steps that your Virginia Licensed Real Estate Agent will help you through. Knowing what these are in advance can help you not be surprised later on:
your lender
Nesbitt Realty never makes any money from your loan. This frees us to make the most objective recommendation possible.
  • Know your budget, consult with a financial institution about what you can be pre-approved for.
  • Know your needs, including:
    • Number of bedrooms
    • Location
    • Walking distance to a bus stop
    • Walking distance to a metro stop
    • Price
    • Property condition
    • Age of the property
    • Garage Parking
    • Schools
  • Amenities (for condos)homes with a garage
    • Indoor/Outdoor pool
    • Putting Greens
    • Tennis courts
    • In unit washer/dryer
    • Utilities included in condo fees
    • Basketball courts
    • Bowling
    • Concierge service
    • Controlled access
  • Realize that something will have to give to get what you want, prioritize your needs so that you can get the most important features. Use our school search to find homes for sale in a particular school district
  • Budget time and money:
    • Finding any home is easy. Finding the right home requires time invested in looking at properties.
    • Money for down-payments and closing costs can vary from a couple percentage points to a cash purchase where you provide the entire amount up front.
There are five basic ground rules when it comes to buying real estate in {Location_Name} and shopping smart, and they are: #1 – Get your financing before comparing for a home in {Location_Name} There are few things in life as disappointing as losing out on the home of your dreams due to not being able to secure funding. While the desire to get out there and search for that great home is understandable, it is vital to line up the financing you will need before you start shopping for a home. Getting the financing ahead of time has a number of important advantages, including knowing how much you can buy and gain more respect from the listing agents. By knowing how much home you can afford before you shop you will avoid wasting your time looking at unaffordable properties, and the listing agent will be more than willing to show you the homes in your price range. It is also important to take a good look at the various types of mortgage on the market before getting started in the home buying process. These days, mortgages come in far more choices than the typical 15 or 30 year. For that reason, potential home buyers need to understand how each type of mortgage works, and to gauge which mortgage is the best choice for their needs. #2 – Look at the community in {Location_Name}, not just the home It is a good idea to look at the entire community, instead of focusing on a single home. This can be a particularly important thing to consider for those moving to a new metropolitan area, as these buyers will be unfamiliar with the local climate and lifestyle. It is crucial to determine the areas of town that are most desirable, and to consider things like distance from work and local shopping opportunities. We have all heard that location is the key consideration when it comes to real estate, and that is certainly the case. Buying a house in the wrong area can be a big mistake, and it is important to choose the location as well as the home. Potential buyers can learn a great deal about the nature of the various neighborhoods simply by driving around town, as well as by talking to other residents. #3 – Be fair with your first offer Trying to lowball a seller on the first offer can backfire, as can paying too much. It is important to carefully evaluate the local market, and to compare the asking price of the home with what similar houses in the neighborhood have sold for. Comparing the sales of comparable homes, what are known as "comps" in the industry, is one of the best ways to determine what is fair, and to make sure that you neither overpay or underbid on the property. #4 – Always get a home inspection Always investigate the home for any possible defects before making an offer. Compared to the cost of the average home, the price of a quality home inspection is virtually negligible. Hence, get a good home inspection done before you buy. To find the best home inspector, it is a good idea to seek out word of mouth referrals as many of the best home inspectors rely on word of mouth advertising. #5 – Do not alienate the sellers of the home Many real estate deals have fallen apart due to the personal animosity of the buyer and the seller. It is important to avoid alienating the seller of the home during the process, and to avoid nitpicking every little detail during the sale. Keeping the goodwill of the seller will help the transaction go smoothly, and it will provide the best environment for seller and buyer alike. [learn more about the home buying process]

Properties in Focus

For more information or to set up an appointment call Stuart at (703)765-0300.
Call Nesbitt Realty if you need help buying a home in Northern VA.
Call Nesbitt Realty if you need help buying a home in Northern VA.

Lender Checklist: What You Need for a Mortgage

  • W-2 forms --- or business tax return forms if you're self-employed --- for the last two or three years for every person signing the loan. Check
  • Copies of at least one pay stub for each person signing the loan.
  • Account numbers of all your credit cards and the amounts for any outstanding balances.
  • Copies of two to four months of bank or credit union statements for both checking and savings accounts.
  • Lender, loan number, and amount owed on other installment loans, such as student loans and car loans.
  • Addresses where you've lived for the last five to seven years, with names of landlords if appropriate.
  • Copies of brokerage account statements for two to four months, as well as a list of any other major assets of value, such as a boat, RV, or stocks or bonds not held in a brokerage account.
  • Copies of your most recent 401(k) or other retirement account statement.
  • Documentation to verify additional income, such as child support or a pension.
  • Copies of personal tax forms for the last two to three years.
For more information or to set up an appointment call Stuart at (703)765-0300.

Tips for Condo Buyers

Condos real estate agents
Nesbitt Realty can help you buy and sell real estate in Condos
If you are looking or even just thinking about buying a condominium home, it's perfectly natural to feel a little nervous. Buying a condo and owning your own home is a large, life changing purchase. Indeed, any individual thinking about buying a condo needs to know what to expect and how to prepare for those expectations. Below is a short list of 5 essential tips that any potential condo buyer would do well to consider throughout the process of finding a new condominium home. Happy hunting! 1) Look at Everything in Person First, remember to look in person at any condo unit you are interested in. It is very important that you make sure to actually see the amenities, parking space, and condo facilities personally. This simple but critical task will avoid any confusion and disappointment later on and will ensure that you are satisfied with your condo purchase. If you absolutely cannot look at the condo in person than ask the seller if you can send a friend you trust to look at the unit instead. In addition, if you are located in a different city than where you are condo shopping, be sure to ask the condo seller or realtor to send you as many pictures as possible of the condo and the condo building before you make a decision. 2) Carefully review the Condo Association Fees First Make sure that you know what exactly is included in your condo purchase. What amenities are included in the condo fees to make the condo right for the price? Or, on the other hand, are you going to end up paying for benefits you don't need? In addition, ask if there is any insurance included. Different condo associations may charge the same amount per month, but one may include some incidental insurance while others may require hefty fees for amenities you may not really need or want. Finally, check the condo association meetings and/or any printed bulletins that result from them. Look for any past or developing issues that you need to take into account. 3) Never Ignore the Documents that Accompany the Condo Purchase Always review the condominium documents very carefully before you buy. In laymen's terms, don't ignore the fine print. Here, you should check the total price and property documents to make sure that they are reasonable for the area. Be especially cautious if the price is very low because this could mean you will need a special assessment of the unit, which could cost you a lot of money, later in the future. 4) Always Review Comparable Units for Sale in the Same Building While every condo building is unique and features different amenities, styles, policies, and location, it is important that you look into other condo units that are for sale or have sold in the same building. Here, do not simply rely on the recent sale price of another unit in the building. Consider what another units' floor plan was, what views it had, or if it had any special upgrades. Depending on the view and floor of the unit, the price of a one bedroom can vary within a condo building. 5) Work with a Specialist The condominium marketplace is often a very specialized type of real estate and as such, you should always consider working with a qualified realtor, and particularly one who specializes in condos. With the help of a realtor, you will have access to a greater condominium market which will enable you to find the best condo unit to fit your needs at a price that you can live with. For more information or to set up an appointment call Julie at (703)765-0300.
  • Prices And Pics Of Condos In 22206

    Will and Julie Nesbitt cross the street in Shirlington
    22206 is a great place to consider buying a home in Northern Virginia. Believe it or not you can find an affordable nice condo in Arlington.  For example this condo near Shirlington is at the Arlington 2 beds, 1 full baths Home size: 755 sq.ft. Added: 02/08/17, Last Updated: 02/08/2017 Property Type: Residential Garden 1-4…

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  • What’s so special about the condos at The Jamieson?

    Located in the Carlyle neighborhood of Alexandria, condos at The Jamieson are the only development to offer amenity services by the Westin Hotel. Residents have access to the following services: Valet parking Room service Maid service A la carte catering  

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  • Floorplans of Cardinal Forest Condos

    5935 MINUTEMEN RD, Unit 253, Springfield VA, 22152
    Situated on a rolling forest terrain in West Springfield, Cardinal Forest is a condominium development that was constructed in 1968 and converted into a condominium community in 1978. Below are the available floorplans at Cardinal Forest: Cardinal Forest highlights 130 acres of landscaping with trails and pools near Lake Accotink offering tranquil living near nature.…

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5 Important Tips for Condo Buyers

Condos at 1200 Nash St N #535 Arlington VA 22209
Prospect House is in Arlington 22209
If you are looking or even just thinking about buying a condominium home in or around Northern Virginia, it's perfectly natural to feel a little nervous. Buying a condo and owning your own home is a large, life changing purchase. Indeed, any individual thinking about buying a condo needs to know what to expect and how to prepare for those expectations. Below is a short list of 5 essential tips that any condo buyer would do well to consider throughout the process of finding a new condominium home. Happy hunting! 1) Look at Everything in Person First, remember to look in person at any condo unit you are interested in. It is very important that you make sure to actually see the amenities, parking space, and condo facilities personally. This simple but critical task will avoid any confusion and disappointment later on and will ensure that you are satisfied with your condo purchase. If you absolutely cannot look at the condo in person than ask the seller if you can send a friend you trust to look at the unit instead. In addition, if you are located in a different city than where you are condo shopping, be sure to ask the condo seller or Realtor to send you as many pictures as possible of the condo and the condo building before you make a decision. 2) Carefully review the Condo Association Fees First
Condos at 501 Slaters Ln Ne #220 Alexandria VA 22314
Marina Towers is in Alexandria 22314
Make sure that you know what exactly is included in your condo purchase. What amenities are included in the condo fees to make the condo right for the price? Or, on the other hand, are you going to end up paying for benefits you don't need? In addition, ask if there is any insurance included. Different condo associations may charge the same amount per month, but one may include some incidental insurance while others may require hefty fees for amenities you may not really need or want. Finally, check the condo association meetings and/or any printed bulletins that result from them. Look for any past or developing issues that you need to take into account. 3) Never Ignore the Documents that Accompany the Condo Purchase Always review the condominium documents very carefully before you buy. In layman's terms, don't ignore the fine print. Here, you should check the total price and property documents to make sure that they are reasonable for the area. Be especially cautious if the price is very low because this could mean you will need a special assessment of the unit, which could cost you a lot of money, later in the future. 4) Always Review Comparable Units for Sale in the Same Building
Condo in Eton Square
Eton Square in Alexandria
While every condo building is unique and features different amenities, styles, policies, and location, it is important that you look into other condo units that are for sale or have sold in the same building. Here, do not simply rely on the recent sale price of another unit in the building. Consider what another units' floor plan was, what views it had, or if it had any special upgrades. Depending on the view and floor of the unit, the price of a one bedroom can vary within a condo building. 5) Work with a Specialist The condominium marketplace is often a very specialized type of real estate and as such, you should always consider working with a qualified realtor, and particularly one who specializes in condos. With the help of a realtor, you will have access to a greater condominium market which will enable you to find the best condo unit to fit your needs at a price that you can live with. For more information or to set up an appointment call Julie at (703)765-0300.
  • 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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5 Common First Time Home Buyer Mistakes

A Single family house at 5428 Grist Mill Woods Way Alexandria VA 22309
Grist Mill Woods is in Alexandria 22309
1. Decide what you can afford. Generally, you can afford a home equal in value to between two and three times your gross income. 2. Develop your home wish list. Then, prioritize the features on your list. 3. Select where you want to live. Compile a list of three or four neighborhoods you'd like to live in, taking into account items such as schools, recreational facilities, area expansion plans, and safety. 4. Start saving.Do you have enough money saved to qualify for a mortgage and cover your down payment? Ideally, you should have 20 percent of the purchase price saved as a down payment. Also, don't forget to factor in closing costs. Closing costs --- including taxes, attorney's fee, and transfer fees --- average between 2 and 7 percent of the home price. 5. Get your credit in order.Obtain a copy of your credit report to make sure it is accurate and to correct any errors immediately. A credit report provides a history of your credit, bad debts, and any late payments. 6. Determine your mortgage qualifications.How large of mortgage do you qualify for? Also, explore different loan options --- such as 30-year or 15-year fixed mortgages or ARMs --- and decide what's best for you.
Condos at 2001 15th St N #615 Arlington VA 22201
Odyssey is in Arlington 22201
7. Get preapproved. Organize all the documentation a lender will need to preapprove you for a loan. You might need W-2 forms, copies of at least one pay stub, account numbers, and copies of two to four months of bank or credit union statements. 8. Weigh other sources of help with a down payment. Do you qualify for any special mortgage or down payment assistance programs? Check with your state and local government on down payment assistance programs for first-time buyers. Or, if you have an IRA account, you can use the money you've saved to buy your fist home without paying a penalty for early withdrawal. 9. Calculate the costs of home ownership. This should include property taxes, insurance, maintenance and utilities, and association fees, if applicable. 10. Contact a REALTOR®. Find an experienced REALTOR® who can help guide you through the process. For more information or to set up an appointment call Julie at (703)765-0300.

Finding the right condo

I met a potential client who told me that she had been looking for two years for a condo.  She called me because she wanted to see a particular property in Belle View.  After establishing that she didn't have an agent, I showed her Belle View.   I practically had to drag her to see a property I thought she would like based upon her input. That property was Montebello, and she absolutely loved it and was amazed because she wouldn't have had a clue that Montebello existed if it wasn't for me.
exterior with shuttle
Shuttle bus
A few days later, she wanted me to tag along to another property that she had found at my property search site.  That prompted me to "set the record straight" with some frank talk. Obviously, I would love the opportunity to be of service to her. I appreciate and value each client and always need one more client. But there are limits to what I can and will do and this is for the protection of both the client and myself. When I take on a client it is because I know I can add value to my client's end of the transaction.  I add value by finding right property at the right price. As I have demonstrated to her and others, I know the condos of Northern Virginia very well. Additionally, I can be a pretty tough negotiator when the time calls. Thus, if a client allows me to represent him or her, I think it's important that I go with the client whenever the client views properties (with the possible exception of open houses).  So, to answer her first question, of course I want to go with a client when a client has interest in a property.  But, when I see someone who has been looking for two years, three years, and has probably burned through a couple of agents who threw their hands up in frustration, I think it is important establish a few facts. There are two primary reasons why a buyer takes a long time to select a property:
  1. The buyer either has unrealistic expectations; or
  2. The buyer does not have clearly defined goals.
When expectations are unrealistic, the best thing that I can do as an agent is to apprise buyers of reality and wish them well in their search. This is not because I'm a tough guy, but rather because it would ruin me a professional to chase the impossible. To use a metaphor, maybe bigfoot exists.  I've heard that people saw him.  But if I made my living as a game hunter, I'm not going to spend my time (the only thing I really have) trying to catch bigfoot.  I'll wish you well if you are looking for bigfoot, but I'll stick to game that I pull from the forest every single day. In this case, the buyer had a reasonable assessment of reality but she didn't really know what she was looking for. In other words, she didn't have clearly defined goals. The client's method for finding a condo was simple: she randomly searched the Internet and other media to identify prospects. She then visited the potential location and then moved on to something else. That method will use up a lot of time and energy.  I'm not saying the random selection method NEVER works, but in this case the client had already spent two years and hadn't found the right property. Obviously, a buyer needs to see some properties to get an idea of what is available.  But what doesn't make sense is to randomly shop units to find what you want.  Northern Virginia (Arlington, Alexandria, Fairfax County) is a huge metropolitan market. There are so many condominiums in Northern Virginia that a person won't be able to see them all. (Unless like me, the only thing you do is look at condos all day.) I told this client gently but firmly, what I thought made the most sense. I told her the truth.  That is, instead of the client leading me around and letting me open doors so she could find a condo, I would play the part of the expert. As an expert, I would asked pointed questions and listen carefully to her replies. In this way, we can define exactly what it is that the buyer is looking for.  Then, after we have established the goals, then it makes sense to begin touring the selections that I recommend. With each condominium we visit, I'll learn more about her needs and we'll get closer to the property that this client will eventually buy.
  1. Define goals.
  2. Refine goals.
  3. Buy.
Simple, effective and good for the client and the agent.

Properties in Focus

For more information or to set up an appointment call Nesbitt Realty at (703)765-0300.

Get Ready for Big Bidding Wars This Spring

With tighter inventories of homes for sale, buyers are finding increased competition through bidding wars. But the bidding may not be between only one or two other buyers -- more bidding wars are popping up where dozens or even hundreds of other buyers are all competing for the same property. "The only question is not whether a new listing will get multiple bids but how many it will get," Kris Vogt, who manages Coldwell Banker offices in the Sacramento area, told CNNMoney. For example, a home in Elk Grove, Calif., reportedly received 62 separate bids, with the final sales price more than $150,000 above its $129,000 asking price. In Cambridge, Mass., real estate brokers stopped accepting bids after the tally reached 250 bids for two condos listed at $800,000 each. The two condos ended up selling together for $2 million. Seventy-five percent of real estate agents with the brokerage Redfin surveyed in March say their clients have faced multiple bid situations for properties -- up from 56 percent in late 2011. Bidding wars appear to be most prevalent in California. Ninety percent of homes sold in San Francisco, Sacramento, and throughout Southern California saw multiple bids during the month, CNNMoney reports. What’s more, at least two-thirds of listings in Boston, Washington, D.C., Seattle, and New York had bidding wars for homes too. Meanwhile, inventories of for-sale homes continues to be low. The National Association of REALTORS® reported a 19.2 percent drop in inventories year-over-year in February. Source: “The home bidding wars are back!” CNNMoney (April 4, 2013)

Properties in Focus

  • Home Prices In Arlington Continue To Hike

    Glendale
    The housing market in Arlington County is getting more and more expensive as potential buyers continue to have fewer homes and condos to choose from.

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  • Inlet Cove is near Fort Belvoir and Potomac Mills

    Inlet Cove outside Belvoir
    Inlet Cove is alongside Route 1 This neighborhood of townhouses is near grocers and eateries Inlet Cove is close to Fort Belvoir, Alexandria, and Potomac Mills shops, in the city of Woodbridge Interior to these properties are multilevel Inlet Cove is serene

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  • Pending Home Sales on an Upswing

    home inspector
    Pending home sales increased again in March, affirming that a surge of home sales is unfolding for the spring home buying season, according to the National Association of REALTORS®. The Pending Home Sales Index, a forward-looking indicator based on contracts signed in March, rose 5.3 percent to 102.9 from 97.7 in February, and is 21.1…

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  • A Good Time to Buy a High-End Home

    Station Square
    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…

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  • Who is today’s homebuyer and why are they buying?

    Nesbitt Realty 703 765 0300
    The National Association of Realtors recently did a study about the characteristics of home buyers. Some of the findings might surprise you. Thirteen percent of buyers purchased a home with one or more parents and grandparents together with adult children. There were several reasons given for purchasing a multi-generational home. Cost savings; Children over the…

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5 Important Tips for Condo Buyers

If you are looking or even just thinking about buying a condominium home, it's perfectly natural to feel a little nervous. Buying a condo and owning your own home is a large, life changing purchase. Indeed, any individual thinking about buying a condo needs to know what to expect and how to prepare for those expectations. Below is a short list of 5 essential tips that any potential condo buyer would do well to consider throughout the process of finding a new condominium home. Happy hunting!
exterior detail
Royalton penthouse
1) Look at Everything in Person First, remember to look in person at any condo unit you are interested in. It is very important that you make sure to actually see the amenities, parking space, and condo facilities personally. This simple but critical task will avoid any confusion and disappointment later on and will ensure that you are satisfied with your condo purchase. If you absolutely cannot look at the condo in person than ask the seller if you can send a friend you trust to look at the unit instead. In addition, if you are located in a different city than where you are condo shopping, be sure to ask the condo seller or realtor to send you as many pictures as possible of the condo and the condo building before you make a decision. 2) Carefully review the Condo Association Fees First Make sure that you know what exactly is included in your condo purchase. What amenities are included in the condo fees to make the condo right for the price? Or, on the other hand, are you going to end up paying for benefits you don't need? In addition, ask if there is any insurance included. Different condo associations may charge the same amount per month, but one may include some incidental insurance while others may require hefty fees for amenities you may not really need or want. Finally, check the condo association meetings and/or any printed bulletins that result from them. Look for any past or developing issues that you need to take into account.
Wooster Mercer
Wooster Mercer Lofts
3) Never Ignore the Documents that Accompany the Condo Purchase Always review the condominium documents very carefully before you buy. In laymen's terms, don't ignore the fine print. Here, you should check the total price and property documents to make sure that they are reasonable for the area. Be especially cautious if the price is very low because this could mean you will need a special assessment of the unit, which could cost you a lot of money, later in the future. 4) Always Review Comparable Units for Sale in the Same Building While every condo building is unique and features different amenities, styles, policies, and location, it is important that you look into other condo units that are for sale or have sold in the same building. Here, do not simply rely on the recent sale price of another unit in the building. Consider what another units' floor plan was, what views it had, or if it had any special upgrades. Depending on the view and floor of the unit, the price of a one bedroom can vary within a condo building. 5) Work with a Specialist The condominium marketplace is often a very specialized type of real estate and as such, you should always consider working with a qualified realtor, and particularly one who specializes in condos. With the help of a realtor, you will have access to a greater condominium market which will enable you to find the best condo unit to fit your needs at a price that you can live with. For more information or to set up an appointment call Nesbitt Realty at (703)765-0300.
  • Help With Down-Payment For First-Time Buyers For A Residence In 22304 In Alexandria

    Are you planning to buy a modest nice condo like this condo at 4862 Eisenhower Ave #164? Considering purchasing a home? Okay. Please rely on a professional like Nesbitt Realty to help.

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  • First-Time Home Buyer Credit In The City Of Falls Church

    Do you want a little help to purchase a $1,250,000 5-bedroom home in 22046? Has the time come to buy a your first home? Good. Nesbitt Realty am a resource that can assist.

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  • Does Nesbitt Realty Offer A Down-Payment Assistance For First-Time Home Buyers Of $28,428 On 8417 Brookewood Ct McLean VA 22102?

    Attaining your first home is an exciting milestone, and it's likely the biggest purchase you'll ever make. So don’t jump into it without doing your homework. You can count on a personable ace like me to assist.

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  • Can A First-Time Buyer Get A Rebate On A Luxury Detached Home Like 2510 N Columbus St?

    Attaining your first home is an exciting milestone, and it's likely the biggest purchase you'll ever make. So don’t jump into it without doing your homework. It's Nesbitt Realty's job to help. Do you want a very large luxury place in 22207 in Arlington County?

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  • Help With Down-Payment For First-Time Buyers In 22015 In Fairfax County

    Has the time come to purchase a a home? Alright! Nesbitt Realty is available help. Are you planning to buy a sprawling mid-market interior row/townhouse like this striking interior row/townhouse at 9514 Draycott Ct?

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