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Month: May 2010

Nesbitt Realty & Property Management > About Nesbitt Realty > Updates > 2010 > May

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)

  • How Much Does Home Staging Cost–And How Can You Save?

    Home staging (decorating your home to entice buyers) may seem counterintuitive at first blush, but evidence shows that it is usually well worth the effort.  On average, staged homes sell 88% faster and for 20% more than nonstaged homes, which is quite remarkable.

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  • Reviving A Stale Listing Like 5325 16th Rd N In Arlington

    Do you have a place in 22205 that won't sell? Did you know that in Tara:

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  • “Despite Recent Sales Of Homes At Pohick Estates In 22079, My Detached Home Hasn't Sold!”

    Do you have a residence that just isn't selling? Did you know that in Pohick Estates:

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  • What Has Recently Sold At Springfield?

    Are you a detached home seller with a detached home similar to 7311 Falmouth St in Fairfax County that won't sell? Did you know that in Springfield:

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  • Why Isn't My Home In 22066 Selling?

    Are you a homeowner with a abode similar to 9502 Arnon Chapel Rd in Fairfax County lingering on the market? Did you know that in Riverside Manor:

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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)

  • 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.

    Read More

  • 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…

    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

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

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.

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

$1,875,000 : 224 N Nelson St, Arlington 22201

photo

6 beds, 5 full, 1 half baths

Living area: 4,500 sqft

Lot size:

Year built: 2020

Days on Market: 6

$1,449,000 : 1837 N Hartford St, Arlington 22201

photo

4 beds, 4 full baths

Living area: 2,297 sqft

Lot size:

Year built: 1939

Days on Market: 12

$735,000 : 2001 15th St N #1210, Arlington 22201

photo

2 beds, 2 full baths

Living area: 1,080 sqft

Lot size:

Year built: 2006

Days on Market: 7

$2,350,000 : 31 N Jackson St, Arlington 22201

photo

5 beds, 4 full, 1 half baths

Living area: 6,325 sqft

Lot size:

Year built: 2020

Days on Market: 5

$265,000 : 2100 Lee #431, Arlington 22201

photo

0 beds, 1 full baths

Living area: 495 sqft

Lot size:

Year built: 1987

Days on Market: 47

See more in 22201

Will Nesbitt
Will Nesbitt

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.

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)

  • 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.

    Read More

  • 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

    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

  • 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…

    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

 

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.

  • 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 ROAD McLean, VA 22101 6 Bedrooms 5.5 Bathrooms 6,752 SF $1,695,000

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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.