Real estate investors worldwide are convinced the market is at or near bottom and about to shoot up, according the Colliers International’s first survey of global investor sentiment.
Luxury residences at Rosslyn in Arlington VA
Investors from Asia, Canada, Latin America, and Western European say financing is increasingly available, while investors in the Middle East and Eastern Europe make the opposite observation.
While there was considerable disagreement about what “normal” is, the majority of respondents say their respective markets will return to “normal” within 18 months.
Globally, rents are anticipated to hit bottom this year – the first quarter of 2010 for the office sector was the most frequently offered response, followed by the second quarter of 2010 for industrial, and the third or fourth quarter of 2010 for retail.
Source: Colliers International (04/14/2010)
Julie Nesbitt
Julie Nesbitt knows the back trails and by-ways of Northern Virginia real estate.
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…
According to research economist Jessica Lautz, "More than one-third of all home buyers buy a home for the desire to own. This has been the most cited reason consistently for the last several years, but it is even more true of single female buyers. Nearly half of single female buyers purchase a home because they have a desire to own a home. The second most cited reason for single female buyers in choosing to purchase a home is a change in family situation—13 percent of single female buyers purchase for this reason, compared to 9 percent of all buyers.
Court House Neighborhood in Arlington VA
"In comparison to other household types, single female buyers are more likely to have lived with parents, relatives or friends before buying their own residence, 20 percent compared to 12 percent of all buyers. Single female buyers are also more likely to rent an apartment or house before buying their own place compared to all buyers. Both previous living situations are related to the large share of single female buyers being first-time buyers."
Her research indicates: "The median age of all home buyers was 39 years old, compared to 41 for single female buyers. Among single-female buyers, 58 percent were first-time home buyers in 2009, compared to 47 percent of all home buyers. The median household income for single-women home buyers was lower than that of all other homebuyer household types. Single females reported a median household income of $47,900 in 2008 compared to $73,100 among all home buying households. This difference in household income should not be completely surprising as 68 percent of home buying households are couples – and so perhaps likely to have two income earners. The difference in median income for single women households compared to those for single men is less striking—single men typically made $53,700 in 2008. Additionally, single women households are less likely to have children living at home than couples. Results from the survey show that 22 percent of single women home buyers have children at home, while 38 percent of all home buyers have children at home."
Source NAR
The Arlington Urban Village Market at Courthouse is an open air market that has been going on since December 2002.
SATURDAYS:
9 am - 4 pm
Located on North 15th Street,
next to Courthouse parking lot.
Free Parking is available at 2100 Clarendon Blvd. (County office garage).
Enter on Clarendon Blvd. or 15th Street
The market features furniture, Art, China,Silver, Jewelry, Books, Photographs, Vintage Clothing, Linens, Lamps, Chandeliers, Antique Tools and Other Treasures...
Julie and I rode bikes from Old Town up to Washington DC to take a look at the cherry blossoms. We rode along the GW Parkway on the Mount Vernon Trail to Theodore Roosevelt Island and then we turned back crossing the river into the city. It was a pleasant morning and a good time.
Washington Monument as seen from Virginia during cherry blossom
Cherry Blossoms
Jefferson Memorial at Cherry Blossom
The cherry trees bloom every Spring along the Potomac River
Washington Monument surrounded by cherry blossoms
Will Nesbitt is the principal broker of Condo Alexandria.
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.
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.
Will Nesbitt of Condo AlexandriaWill Nesbitt is the Principal Broker of Condo Alexandria / Nesbitt Realty.
The federal government is driving demand for office space, according to Jones Lang LaSalle’s annual report on federal real estate procurement.
US Capitol Dome
In Washington, D.C., the federal government will require more than 5 million square feet of new office space by the end of 2010. That is more than both public and private entities combined will require elsewhere in the United States.
"I’d say it would make sense for brokers to be targeting federal agencies rather than private agencies," says Scott Homa, senior market research analyst at Jones Lang LaSalle.
Source: GlobeSt.com, Robert Carr (03/31/2010)
Alexandria Residents To Benefit From Emergency Rental Assistance Program
Residents in Alexandria who are facing financial hardship due to the coronavirus crisis can benefit from the COVID-19 Emergency Rent Relief Assistance Program recently launched by the City.
Alexandria Opens Temporary Drop Off Site For Collection Of Yard Waste
Reisdents of Alexandria will now be required to drop off their yard waste at a temporary drop off site set up by the City. Due to concerns of the coronavirus the City was forced to suspend the collection of garbage as it seeks to protect employees from the risk of the virus.
Amazon Makes Donation To Alexandria And Greater Washington In Fight Against COVID-19
Amazon has provided assistance to the City of Alexandria and the Greater Washington area through a monetary donation of $1mil. The $1 million donation will aid in the emergency COVID-19 response funds which will benefit four local community foundations.
Increase in Real Estate Tax To Be Approved By Alexandria City Council
The Alexandria City Council has voted for a real estate tax rate increase to $1.155 per $100 of assessed value from the current $1.13 which would represent an increase of 2.5 cent.
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