Top “Lifestyle” Factors When House Shopping
July 25th, 2011 Categories: Real Estate News
We’ve been away for a few days and thought we would kick off our return with this article from Melissa Tracey at Realtor® Magazine.
Melissa makes the point that home buyers today are not just looking for the “least expensive house in the best neighborhood” but they are looking at an entire lifestyle.
Urban loft, Cape Cod cottage, classic center hall colonial – yes, those things are important but so are these top life style priorities as reported by survey by Better Homes and Gardens Real Estate:
- Ease of commuting by car – 30%
- Access to health and safety services - 34%
- Family friendly neighborhood - 33%
- Availability of retail stores - 32%
- Access to cultural activities - 21%
- Public transportation access – 19%
- Nightlife and restaurant access – 18%
- Golf friendly area-access to golf courses – 6%
Now I can’t honestly say that Alexandria or Northern Virginia falls into the “ease of commuting by car” category but we do really well with all those other areas!
Let me tell you about some of the great neighborhoods where you’ll find some great lifestyle choices and a great house.
Give me a call at 703.927.4554 . . .
Michael
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Ceiling Fans – What You Need to Know
July 13th, 2011 Categories: Real Estate News
We bought into the ceiling fan craze years ago. First it was high ceilings in a vintage Old Town apartment and then the fans moved with us to our three story townhouse in Del Ray.
Like many town homes, the lower, basement level, is an ice box but the third floor bedrooms suffer in the summer heat. Sound familiar?
But hey, don’t take our word for it. Check out what you need to know in this article from the Washington Post about buying and installing ceiling fans.
Two big take ways?
- You can feel up to 8 degrees cooler sitting under a ceiling fan
- Fans cool people, not rooms, so don’t leave the fan on if you’re not present
Michael
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Real Estate Word of the Day – Imperative Necessity
July 10th, 2011 Categories: Real Estate News
Imperative Necessity - the ability of an (real estate) agent to take initiative in times of emergency, including disregarding instructions from the principal, when it is clearly in the interest of that principal.
Example: When one of John’s listings was damaged by flooding, he quickly employed a crew to fix the damage and get the home ready for showing. Although there was nothing in the listing contract that authorized this, the owner was not available, so he employed the doctrine of imperative necessity to justify his actions.
Michael
*Dictionary of Real Estate Terms
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City of Alexandria Celebrates 262nd Birthday on Saturday, June 9
July 8th, 2011 Categories: Alexandria, Old Town, Things to Do
In a long standing tradition, the City of Alexandria will celebrate it’s own birthday (262 years) and the nation’s birthday (235 years) this Saturday, June 9th.
We’re not exactly sure how this post Fourth of July celebration got started (or why) but it’s been going on for as long as we have lived in the area,
So, if you missed the Fourth or just didn’t want to fight the crowds downtown, make your way to Oronoco Bay Park along Alexandria’s waterfront between 4:00 and 10:00pm. The celebration includes children’s activities, community exhibits and birthday cake.
The highlight of the evening is a concert by the Alexandria Symphony Orchestra, topped off with Tchaikovsky’s “1812 Overture” and fireworks. “Cannon support” will be supplied by the United States Marine Corps, Basic Training School, Quantico, VA at 9:30 p.m.
In the event of inclement weather, fireworks only will be rescheduled for Sunday, July 10 at 9:30 p.m.
Oronoco Bay Park has lawn seating, and visitors are encouraged to bring chairs and blankets. Ice cream, hot dogs, hamburgers, shaved ice and kettle corn will be available for purchase or bring your own. (No is grilling allowed however.)
Visitors to the historic district are encouraged bike, walk or take the Metrorail Yellow or Blue lines to the King Street Station and take King Street Trolley to the unit block of King St., a short walk to Oronoco Bay Park. The King Street Trolley will operate until midnight for individuals wishing to return to the King Street Metro following the celebration.
Michael
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Real Estate Market Report for Alexandria and Northern Virginia June 2011
July 6th, 2011 Categories: Market Reports
With the traditional spring selling season behind us and vacations well underway, what is really happening in the Alexandria real estate market? Don’t believe all the doom and gloom reports on the national news. The reports aren’t necessarily inaccurate, they’re just not telling the whole story.
Remember that real estate is a VERY local business. Most recently, positive activity has been report in multiple Coldwell Banker Residential Brokerage offices, and there are signs of unit growth in almost every market.
Real estate is also very cyclical and ever changing. The spring selling season started off strong and then suddenly dipped as a spike in gas prices, rising unemployment claims, and severe weather hit the nation.
Essentially, home sellers shouldn’t be disheartened by the late spring reports. The Federal Reserve Bank of Philadelphia just released the Livingstone Survey which summarizes the forecasts of economists from industry, government, banking, and academia. According to the 35 participants, they raised their estimates of output growth for the second half of 2011 and revised the unemployment rate downward throughout 2011, which is very positive news.
It is also anticipated that reluctant buyers will finally jump into the market before FHA loan limits are decreased on October 1, making it difficult for some to secure a loan. Loan limits determine what types of mortgages may be FHA secured or insured. Loans that fall outside of the limits face tighter credit requirements, higher interest rates and larger down payments.
With home prices at their most affordable, and mortgage rates still at historic lows, a serious buyer would be very wise to make their move now.
If you want to understand what is happening in the real estate industry as it directly impacts your buying and selling decisions, look to the linked graphs below and then call me at 703.927.4554.
Alexandria
Arlington
Fairfax Country
Faquier County
Loudoun County
Prince William
Washington, DC
I will provide you with facts and the current market conditions that are relevant to you, in your local area. It’s my job to dissect those national headlines and give you the right kind of information you need to make the right decisions.
Let’s do this together,
Michael
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Alexandria and Northern Virginia in Top Ten Highest Rental Markets in the US
July 5th, 2011 Categories: Real Estate News
In a article published today by MSN Real Estate, Alexandria and Northern Virginia were cited as being in the top ten highest rental markets in the US.
The government and a higher than average employment rate in the greater Washington area puts landlords firmly in the drivers seat when it comes to rents.
Just a year and a half ago, the national rental-vacancy rate sat at a peak of 8%, its highest level in nearly a decade, with economic conditions driving tenants to move in with family or friends.
“The apartment market really turned around though in 2010,” says Axiometrics* President Ron Johnsey, who expects rents to continue to rise through 2013 at a national average of 5% to 7% a year. “In some markets, you’re seeing double-digit increases in rent.”
What does this mean for you? If you are looking to invest in rental property the signs point to excellent opportunities for solid rental income.
If, on the other hand, you are tired of paying as much for a rental as you could be paying on a mortgage then this is a perfect time to start looking. In particular, the condominium market in Northern Virginia is where you might want to start.
In either case, I’m here to help you find the perfect solution for your pocket book. Give me a call at 703.927.4554 and let’s make it happen.
Michael
*Axiometrics is an apartment research firm
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Family Memories Come Together in The Fourth of July, Iceland and the Chesapeake Bay
July 3rd, 2011 Categories: Real Estate News
The Fourth of July, Iceland and the Chesapeake Bay may seem like disparate elements for family memories so let me give you a bit of background.
1 – After my father retired from the military he and my mother moved to Scientist’s Cliffs, a small private community on the Chesapeake Bay. The community is composed of some 300 cabins and sits on 276 acres of the Calvert Cliffs, which rim 25 miles of the Bay’s western shore.
2 – My mother was from Iceland. She and my father met and married when he was stationed in Reykjavik and my brother and I were born there. (Yes, I have dual citizenship.) My sister, who came a bit later, was born in Richmond, VA.
3 – My mother was born on the Fourth of July!
Now, put those three things together – plus my mother’s unabashed love of this country – and you have the beginning of a long, wonderful family memory.
For as many years as I can remember, the entire family gathered at Scientist’s Cliffs every Fourth of July to celebrate my mother’s birthday and the official birthday of the United States of America. The day started early with games – sack races, an egg toss, turtle races, softball – and ended with the all important scavenger hunt. It should be noted that the Bergin family took first place in the hunt at least 6 years in a row.
After lunch it was off to the beach or, if the jelly fish were too bad, straight to the swimming pool. But the main event, and the one everyone waited for, was dinner that night.
Sitting on the back deck overlooking a glen filled with azaleas, rhododendrons and towering trees, the picnic table spread with newspaper, we tucked into bushels and bushels of steamed blue crabs. It didn’t matter what else we had, the crabs were all anyone cared about. It didn’t matter how hot it was or how annoying the mosquitoes, the crabs were irresistible and we picked until the last one was gone.
By then it was dark and it was time for sparklers, birthday cake, tucking little ones into bed and talking long into the night. Even today, with family scattered to California, North and South Carolina and even Europe, the memory of our very special Fourth of July celebration lives on.
Thanks to my daughter Taite, who with a simple entry on her Facebook page, sparked the reminder of what we all shared. If I left anything out, or if any of you have spent time at Scientist’s Cliff, I’d love to hear from you.
Celebrate, enjoy and be thankful. Happy Fourth of July everyone!
Michael
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Celebrate the Fourth of July with a Dress Rehearsal
July 2nd, 2011 Categories: Real Estate News, Things to Do
New to the Washington, D.C. area?
By now you’ve probably heard all about the grand Fourth of July celebration on the Mall – you know, the one that is televised every year, the one they call a “Capitol Fourth“.
The one that ends with the William Tell Overture and fireworks to beat the band. The one that attracts hundreds of thousands of folks to the mall.
But have you heard about the dress rehearsal on the Third of July? Same time, same music, same performers*, same security checkpoints but with much smaller crowds. The only thing missing is the fireworks – that is a one night only event.
It’s a great way to experience Washington. Give it a try.
Michael
***A caveat – some of the performers choose not to be present at the rehearsal and a staffer lip synchs instead. Jimmy Smits is always there though and pokes gentle fun at those artists who pass on this fun tradition.
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The Fourth of July in Northern Virginia 2011 – Where to Go and What to Do
June 30th, 2011 Categories: Things to Do
With the Fourth of July rapidly approaching it’s time to start making plans for the weekend, especially if out-of-town guests are on hand.
Of course the concert and fireworks on the Mall is the big attraction but if you are looking for other venues in Northern Virginia, here is a check list of where to go and what to do:
Culpeper - A 5K race; historical reenactments; a battle of the bands; a parade and fireworks start at 9:15pm. (FREE)
McLean - Langley High School is the site for food, field games and blues/roots band “Last Train Home”. Fireworks at 9:15pm. (FREE)
Mount Vernon – Revolutionary War reenactments, a reading of the Declaration of Independence and daytime fireworks (12:45pm). Events run from 8am – 5pm. Admission $13, $6 for ages 6-11, free for ages 5 and under.
And now for the big one – the Fourth of July on the National Mall in Washington, D.C.
Start your day with the Independence Day Parade at 11:45am, then take in the Smithsonian Folk Life Festival, and special Fourth of July activities at the National Archives and the White House Visitors Center. Public access to the Mall begins at 10:00am with all visitors required to enter via a security checkpoint.
Choose one of two locations for your evening concert -
The U.S. Navy Band performs on the grounds of the Washington Monument starting at 6pm. The concert will feature the U.S. Navy Concert Band, the Sea Chanters chorus, and the Cruisers, a rock and top-40 ensemble. The Navy Band Commodores Jazz Ensemble takes the stage at 8pm and concludes at 9:10pm for the fireworks display.
The National Symphony Orchestra and several pop artists will perform patriotic music on the West Lawn of the U.S. Capitol Building starting at 8:00pm, (Admittance begins at 3:00pm)
Fireworks at approximately 9:15pm. Not sure you want to travel into the District for the fireworks?
Check out these local spots for viewing from the Virginia side:
- Roaches Run Waterfowl Sanctuary
- Gravelly Point Park
- the Air Force Memorial
- Columbia Island Marina
- Lady Bird Johnson Park
- the Monroe Street Bridge.
So there you have it, The Fourth of July in Northern Virginia 2011 – Where to Go and What to Do.
Michael
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Homeownership is Still a Priority According to New Poll
June 29th, 2011 Categories: Real Estate News
Despite continued bad news about foreclosures and the job market, homeownership is still a priority according to a new poll commissioned by the New York Times/CBS News.
Here are some of the highlights of the poll:
“Nearly nine in 10 Americans say homeownership is an important part of the American dream, according to the latest New York Times/CBS News poll. And they are keen on making sure it stays that way, for themselves and everyone else.
Support for helping people in financial distress over housing is higher than support for helping those without a job for many months.
Forty-five percent of the respondents say the government should be doing more to improve the housing market, while 16 percent say it should be doing less. On the politically contentious issue of direct financial assistance to those having trouble paying their mortgages, slightly more than half of those polled, 53 percent, say the government should help.
Happy homeowners
And almost no one favors discontinuing the mortgage tax deduction, a prized middle-class benefit that has been featured on some budget-cutting proposals.”
To read the complete article, click here.
To start looking for your new home, call me at 703.927.4554.
Michael
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