Pictures of the Nesbitts
Kings Park, in 1962
To Condo or Not to Condo?
Why choose to buy a condominium?
Condo life is a simplified way of living for those with active and busy lifestyles.
There are a lot of reasons that people prefer to live in condos than in houses. Some condos do cost less than a traditional single family house, while offering many of the amenities/facilities that a person may not be able to afford on his own. And there are single family houses that cost the same as a condo, but of course do not have the amenities that the same costing condo can offer.
A simple condo would offer its residents a pool, a gym and a party room, but a similar priced house would not have these benefits. Condo owners share the cost of maintenance. Exterior maintenance and even lawn care is handled by the condo association, while the expenses to provide that care is already a part every condo unit owner’s monthly fee. There are certain condos that include the utilities included in the condo fee and other condos that share the cost of water but pay their own utilities. Basically, a condo owner can just step out of his room and enjoy a dip in the pool or a good workout at the gym, while the latter would be on the roof cleaning out gutters or frowning down on his bills and writing checks for pay all his utilities.
Therefore the question still remains to be “To Condo or Not to Condo?”
Condominiums are found in all shapes, sizes, prices and types. Are you looking for a high-rise condo, a mid-rise or a garden-style condo? Maybe you'd prefer a townhouse?
The term "garden-style" condo usually refers to a condominium residence in a building that has less than three stories. Most garden-style condos have balconies or patios for each residence. Many garden-style condos have a main entrance that opens to a common-area hallway. Additional common areas include the green space and "gardens" surrounding the structures. If you're interested in garden-style condos you'll have a lot of options in Northern Virginia.
From the suburban feel of Kingstowne to the central location of Bolling Brook from the vintage charm of Belle View to the chic feel of Carlyle Square, are just some of the many Northern Virginia condominium communities we feature.
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Mid-rise condos are taller than garden-style condos, but smaller than high-rise condos. Mid-rise condos in Northern Virginia are 5 to 8 stories tall and are generally found close to or inside the Beltway.
[read more about mid-rise condos]
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High-rise condos have more than 9 floors. They are generally found inside the Beltway and are often located near Metro stations, public transportation, or major commuter traffic arteries like I-395.
[read more about high-rise condos]
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Commercial Real Estate Yields Spur Investors
Yields on U.S. commercial real estate are nearing a record high compared to Treasury bonds. Many investors take that as a signal to buy property.
Capitalization rates, a measure of real estate yields, averaged 7.22 percent in the second quarter, as calculated by the National Council of Real Estate Investment Fiduciaries. That was 4.29 percentage points higher than the yield on 10-year government bonds as of June 30 and 4.75 percentage points higher than Treasury yields as of Aug. 31.
These returns are near the record 5.39 percentage points in the first quarter of 2009, when the U.S. was dealing with the worst economic downturn since the Great Depression. The spread shrank to less than 80 basis points when commercial real estate prices peaked in 2007.
“The data indicate that real estate is poised for a rebound,” says Gerardo Lietz, who advises pension funds on property investments.
Source: Bloomberg, Hui-yong Yu (09/01/2010)