Owners Optimistic About Home Values

More than 16 percent of home owners say their houses increased in value during the past year, the highest percentage in nearly two years, according to a Thomson Reuters/University of Michigan survey.

While 75 percent of home owners viewed current home-buying conditions as good, citing attractive prices and low mortgage rates, about 89 percent thought market conditions for selling a home were poor. While still an overwhelmingly negative number, it was still better than the results of the May 2009 survey when almost 100 percent of home owners panned the climate for sales.

Some 43 percent of home owners said their home decreased in value during the past year. Nevertheless, home owners believe their homes will ultimately rise in value, with the average annual anticipated gain over the next five years at 2.1 percent.

Source: Reuters News, Julie Haviv (05/21/2010)

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Now is the Time to Buy, Investment Firm Says

When you compare the real estate downturn to the real estate market in the 1980s, Blumberg Capital Partners, which provides real estate investment management, finds similarities that lead the company to think now is an optimal time to buy.

Its analysts point out that the recession of the 1980s lasted 16 months, running from July 1981 to November 1982. Unemployment peaked in November of 1982 at 10.8 percent. From that point it took 38 months for the economy to recover fully and for unemployment to fall below 7 percent. It was another 10 months before unemployment was consistently below 7 percent.

Philip Blumberg, CEO of Blumberg Capital Partners, said in a note to investors that the real estate cycle is still three or four years from an optimal selling period, so now is the time for investors to buy.

Source: Blumberg Capital Partners (05/19/2010)

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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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  • Learn more about living in Alexandria VA.

    a chilly day in Old Town
    If you are considering buying or selling property, planning to relocate, looking for Alexandria homes for sale, Alexandria condos for sale or looking for any other information about real estate in Alexandria, or the surrounding areas, you have come to the right place.This complete Alexandria real estate resource for offers everything you will need: access…

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National Musuem of Natural History

Smithsonian Institution
Museum of Natural History in Washington DC

The National Museum of Natural History (NMNH) is part of the Smithsonian Institution, the world’s preeminent museum and research complex.

The Museum is dedicated to inspiring curiosity, discovery, and learning about the natural world through its unparalleled research, collections, exhibitions, and education outreach programs. Opened in 1910, the green-domed museum on the National Mall was among the first Smithsonian building constructed exclusively to house the national collections and research facilities.

Julie at Natural History Museum
Julie at Natural History Museum
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Kayaking the Dyke Marsh

Julie and I rented a tandem kayak at Belle Haven Marina and tooled around in the Dyke Marsh and in the Potomac.

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Arlington Price per Sqft. Show Minimal Decline

Arlington average price per square foot

The chart above plots the price per square foot of 1 Bedroom condos in 22201 vs. all Arlington over the past year. While there has been some decline, the change is almost statistically insignificant. The chart below shows little change in 2 BR’s in the same area.

Arlington average price per square foot

Properties in 22201

$1,300,000 : 604 N Garfield St, Arlington 22201

photo

4 beds, 3 full baths

Living area: 2,310 sq. ft.

Lot size:

Year built: 1965

Days on Market: 3

$540,000 : 1021 N Garfield St #530, Arlington 22201

photo

1 beds, 1 full baths

Living area: 873 sq. ft.

Lot size:

Year built: 2005

Days on Market: 3

$464,999 : 1001 N Vermont St #813, Arlington 22201

photo

2 beds, 1 full baths

Living area: 814 sq. ft.

Lot size:

Year built: 2005

Days on Market: 3

$949,900 : 3125 1st Pl N, Arlington 22201

photo

3 beds, 2 full, 1 half baths

Living area: 1,915 sq. ft.

Lot size:

Year built: 1951

Days on Market: 3

$387,000 : 1001 N Vermont St #907, Arlington 22201

photo

1 beds, 1 full baths

Living area: 689 sq. ft.

Lot size:

Year built: 2005

Days on Market: 3

See more in 22201

Will Nesbitt
Will Nesbitt
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Crystal City condo market in transition

The Market Activity Index in Crystal City continues show sawtooth pattern. This pattern often indicates tension between sellers who want to move property but who are not willing to dump property at lower prices.  At the same time buyers are moving swiftly to snag deals, indicating we are near the bottom, or at least in a period of transition.  The days on market fell dramatically, and this means that real estate is selling again.

The chart was drawn from the past 180 days of condo activity in 22202 zip code.

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Census: More People on the Move in 2009

Americans stayed put for about a year after the housing bust, but now they are back on the move, according to U.S. Census figures. US Census Bureau

About 12.5 percent of the population, or 37.1 million people moved to a new home in 2009, up from 11.9 percent or 35.2 million in 2008, the census found.

About 25 percent of adults ages 25 to 34 moved in 2009. That’s up slightly compared to 2008, but down substantially from 32 percent in 2000. Older Americans also stayed where they were with long-distance migration falling to below 2 percent for people older than 60.

“Overall, there is nothing here that suggests a light at the end of the tunnel in the continued slowdown of long distance migration in the U.S.,” said William H. Frey, a demographer at Brookings Institution who analyzed the numbers. “States and communities hoping to see renewed migration gains in college graduates, retirees and families as a spark to their economic growth will continue to be disappointed.”

Source: The Associated Press, Hope Yen (05/10/2010)

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    Read More

  • 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…

    Read More

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    Read More

  • 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…

    Read More

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Riverside Camping at Riverbend Park

Families can enjoy camping and night hiking at Riverbend Park. Riverbend Park has over 400 acres of forest, meadows, and ponds. Trails include a 2.5 mile portion of the Potomac Heritage Trail linking national and regional parkland. Kayakers and canoeists can enjoy exploring many islands in the Potomac River. Serious anglers and families can bring a boat or fish from the shady riverbank. Nature highlights include spectacular river views, beautiful wildflowers and birds.

Facilities include a visitor center with snack bar, gift shop, exhibits and riverside picnic area. The park also has a nature center which is available for rent.

Camping will began at 6 p.m. Friday to 9 a.m. Saturday on May 15th. Bring your camping gear, toasting sticks and a dinner to cook on toasting sticks. S’mores and a light breakfast are provided. The cost is $45 per family. To register, call 703-759-9018.

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  • Enjoying Winkler Botanical Preserve

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  • [FWD: The Empire Strikes Back Pictures]

    We played a game at the office this Sunday. Lots of fun. Sincerely, Will Nesbitt Principal Broker   Nesbitt RealtyAlexandria VA licensed in the Commonwealth of Virginia and the State of Maryland 703 765 0300 (main) 571 237 7902 (direct)888 783 6391 (fax) ——– Original Message ——– Subject: The Empire Strikes Back Pictures From: [email protected]…

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Biking the Mount Vernon Trail

Julie and I rented bikes in Old Town last week. We then biked the Mount Vernon Trail to Mount Vernon and back.  The trail here is pleasant with some ups and downs that can be a little challenging, but not too tough.  The views along the river and through the forest are great. Along the way the trail passes through the Dyke Marsh. We stopped there to take some pictures and drink some water.

 

Will Nesbitt is the principal broker of Condo Alexandria.

Will Nesbitt is the principal broker of Condo Alexandria.
Will Nesbitt is the principal broker of Condo Alexandria.
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