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5 Important Tips for Condo Buyers


If you are looking or even just thinking about buying a condominium home in or around Northern Virginia, it's perfectly natural to feel a little nervous. Buying a condo and owning your own home is a large, life changing purchase. Indeed, any individual thinking about buying a condo needs to know what to expect and how to prepare for those expectations. Below is a short list of 5 essential tips that any condo buyer would do well to consider throughout the process of finding a new condominium home. Happy hunting!       

1) Look at Everything in Person

First, remember to look in person at any condo unit you are interested in. It is very important that you make sure to actually see the amenities, parking space, and condo facilities personally. This simple but critical task will avoid any confusion and disappointment later on and will ensure that you are satisfied with your condo purchase. If you absolutely cannot look at the condo in person than ask the seller if you can send a friend you trust to look at the unit instead. In addition, if you are located in a different city than where you are condo shopping, be sure to ask the condo seller or realtor to send you as many pictures as possible of the condo and the condo building before you make a decision.  

2) Carefully review the Condo Association Fees First

Make sure that you know what exactly is included in your condo purchase. What amenities are included in the condo fees to make the condo right for the price? Or, on the other hand, are you going to end up paying for benefits you don't need? In addition, ask if there is any insurance included. Different condo associations may charge the same amount per month, but one may include some incidental insurance while others may require hefty fees for amenities you may not really need or want. Finally, check the condo association meetings and/or any printed bulletins that result from them. Look for any past or developing issues that you need to take into account.


3) Never Ignore the Documents that Accompany the Condo Purchase 

Always review the condominium documents very carefully before you buy. In laymen's terms, don't ignore the fine print. Here, you should check the total price and property documents to make sure that they are reasonable for the area. Be especially cautious if the price is very low because this could mean you will need a special assessment of the unit, which could cost you a lot of money, later in the future.


4) Always Review Comparable Units for Sale in the Same Building

While every condo building is unique and features different amenities, styles, policies, and location, it is important that you look into other condo units that are for sale or have sold in the same building. Here, do not simply rely on the recent sale price of another unit in the building. Consider what another units' floor plan was, what views it had, or if it had any special upgrades. Depending on the view and floor of the unit, the price of a one bedroom can vary within a condo building.

5) Work with a Specialist

The condominium marketplace is often a very specialized type of real estate and as such, you should always consider working with a qualified realtor, and particularly one who specializes in condos. With the help of a realtor, you will have access to a greater condominium market which will enable you to find the best condo unit to fit your needs at a price that you can live with.  



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Serving real estate needs of Northern VA · in Alexandria · in Arlington · in Fairfax County ·



Get Out and Do Something! Five Fun and Frugal Upcoming Events in Arlington, Virginia


Get out and do something! Even though it's cold outside, there is always something to do in Arlington, Virginia. Below is a list of five fun, local, and free or low-cost events in Arlington that anyone can enjoy!   

1) Children's Theatre Festival

Event: Children's Theatre Festival

Date/Time: Saturday, January 16, 11 am-5 pm

Location: Rosslyn Spectrum, 1611 N. Kent Street, Arlington, VA 22209

Event Description:
The Children's Theatre Festival is a full day theatre event including exciting live performances, workshops, theatre activities and more. The theatre lobby will be filled with activities for children such as painting, drawing, and storytelling beginning at 11 am. There will be a performance of The Cat and the Seagull at 12 pm and again at 4pm. This theatre performance is based on The Story of the Seagull and the Cat Who Taught Her How to Fly, by Luis Sepulveda. At 1 pm there will be additional performances by Los Quetzalitos, the Children's Mexican Dance Group, and Las Lunitas.

Contact and Other Info:
Admission to The Cat and the Seagull is $10.00. All other activities are free. Free Parking in the building garage. Food and drink will be available for sale throughout the festival. Call 703-548-3092 for more information or visit http://www.teatrodelaluna.org.


2) Painting Class for Beginners

Event:  Painting Class for Beginners

Date/Time:  Wednesday, January 20, 10 am – 12 pm 

Location: Walter Reed Senior Center, 2909 16th Street South, Arlington, VA 22204 

Event Description:
Learning how to paint is easier and more fun than ever! Longtime art teacher Blanche Kirchner is opening her painting class on Wednesday morning to help people who are new to the wonderful world of art creation and painting. Blanche will consult new artists on what materials they should bring and discuss the options of different media. This event will get anyone interested in art on the road to their own creative expression!

Contact and Other Info:
Cost is $24 for 4 sessions. Call Nelly Urbach at 703-228-0955 for more information. Sessions run Jan. 20 - Feb. 10 and Feb. 17 - March 10. Event website can be located at:  http://www.arlingtonva.us/departments/parksrecreation/scripts/comm_center/parksrecreationscriptscomm_centerwalterreed.aspx.


3) Comedy Club

Event:  Comedy Club

Date/Time:  Friday, January 22, 10:30 am - 11:30 am 

Location: Aurora Hills Senior Center, 735 18th Street South, Arlington, VA 22202

Event Description:
Come to laugh and relive the classic comedy of times past at Aurora Hills. Guests will enjoy video and audio selections of The Honeymooners, I Love Lucy, Sid Caesar, Milton Berle, Bill Dana, and Burns and Allen. Later, guests can take a stab at sharing their own funny stories together. The event will be led by Mike Bloom, comedy book author and former write for Walt Disney pictures.

Contact and Other Info:
Cost is free. Contact Julie Albers at 703-228-5722 to register. The Comedy Club meets monthly on Fridays. The event website can be found at: http://www.arlingtonva.us/departments/parksrecreation/scripts/comm_center/parksrecreationscriptscomm_centeraurorahills.aspx.

4) Under the Ice 

Event:  Under the Ice 

Date/Time:  Saturday, January 23, 2 pm-3 pm 

Location: Gulf Branch Nature Center, 3608 N. Military Road, Arlington, VA 22207

Event Description:
Bring children ages 6 and up to a winter wonderland in the Gulf Branch Nature Center pond. Children will learn what's lurking in that cold dark water and then go outside and discover what can be hauled up from its depths. The nature centers is nestled in lovely park setting and the event will be staffed with friendly and knowledgeable people who are there to help you and your family learn more about the great outdoors. This interactive event is an environmental education programs for both children and adults. Registration is required.

Contact and Other Info:
A fee of $3 will be due upon registration. Event is for children ages 6 and up, registered children only. Call 703-228-3403 or 703-228-4747 for more information or visit the event website located at: http://www.arlingtonva.us/departments/parksrecreation/scripts/nature/parksrecreationscriptsnaturegulfbranch.aspx.


5) Sudoku Mental Exercise Class

Event:  Sudoku Mental Exercise Class

Date/Time:  Wednesday, January 27, 1 pm – 3 pm 

Location: Langston-Brown Senior Center, 2121 Culpeper Street. Arlington, VA 22207

Event Description:
Challenge yourself and learn to work Sudoku puzzles in your head using the systematic approach developed by instructor Nort Beckerman. This two-hour class will build brain function and cognitive abilities, including memory, while teaching strategies for solving Sudoku puzzles. The class is fun and stimulating. Guests must be registered for the event.

Contact and Other Info:
Cost is free. Contact Eva Mayor at 703-228-5321 to register for the event. Event website is located at:
http://www.arlingtonva.us/departments/parksrecreation/scripts/comm_center/parksrecreationscriptscomm_centerlangstonbrown.aspx.



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Serving real estate needs of Northern VA · in Alexandria · in Arlington · in Fairfax County ·



Builders Moving Toward Better Times


Lots of signs point to a recovery in the construction industry.

With help from a federal tax break, both Lennar Corp. and KB Home posted fourth-quarter profits – the first time since 2007 that either has been in the black.

KB Home CEO Jeffrey Mezger said in a statement: "There are indications that housing market conditions may be stabilizing in some regions, reflecting, among other things, relatively high levels of affordability.”

Other signs that things are getting better:

  • Residential investment increased 18.9 percent in the third quarter on a seasonally adjusted basis compared with the second quarter, according to the U.S. Commerce Department"s Bureau of Economic Analysis. It was the first increase in residential investment since the fourth quarter of 2005, the government said.
  • Both KB Home and Lennar are buying land.
  • As sales increase, both have reduced incentives they have been offering buyers.
  • Mezger says KB is increasing prices.
If you're looking for a newer home or condo in the Northern Virginia/Washington Metro area, you'll want to check out this list of suggestions.

Source: The Los Angeles Times, Alejandro Lazo (01/13/2010)



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The Westerlies Condominiums


Located on Westwind Way at the corner of Magarity and Anderson street in McLean, Virginia, the Westerlies is a 200 unit condominium complex situated near Tyson's Corner Shopping Center. The Westerlies are known as a contemporary and fresh community of townhouses throughout the McLean neighborhood. The Westerlies condominiums feature a variety of floor plans including 2 to 3 bedrooms as well as 1 to 2 full bathrooms. The layout of these townhouses offer an abundance of natural lighting and in many units most of the rooms are flooded by daylight. 

At the Westerlies, all of the exterior maintenance is included in the owner's monthly condo fees which is a money and time saving bonus for buyers who may not want to deal with the upkeep of a house. Other features include quick and easy access to all major highways such as I-495, Route 7, and the Dulles Airport Toll Road; and the West Falls Church Metro is approximately a mile away. Condo units feature high windows, kitchens with granite countertops, soaking tubs in the bathrooms, private decks, and most units are 2 levels. Finally, the Westerlies property also includes an outdoor pool, a children's playground, and a basketball court. Between the size, features, and floor plans of the Westerlies condominiums, as well as the great neighborhood that surrounds them, this condo community is a highly desirable place to live in Northern Virginia


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Questions to Ask the Condo Board


In Northern VA, a condo is a great option for first-time home buyers, those who relish convenience and for empty-nesters looking to downsize. Buying a condo is very similar to buying any other real estate, but there are a few things you'll want to be mindful of. For example, before you buy, contact the condo board with the following questions. In the process, you'll learn how responsive --- and organized --- its members are. You'll also be alerted to potential problems with the property.

1. What percentage of units is owner-occupied? What percentage is tenant-occupied? Generally, the higher the percentage of owner-occupied units, the more marketable the units will be at resale.

2. What covenants, bylaws, and restrictions govern the property? What grandfather clauses are in place? You may find, for instance, that those who buy a property after a certain date can't rent out their units, but buyers who bought earlier can. Ask for a copy of the bylaws to determine if you can live within them. And have an attorney review property docs, including the master deed, for you.

3. How much does the association keep in reserve? Plus, find out how that money is being invested.

4. Are association assessments keeping pace with the annual rate of inflation? Smart boards raise assessments a certain percentage each year to build reserves to fund future repairs.To determine if the assessment is reasonable, compare the rate to others in the area.

5. What does and doesn't the assessment cover? Does the assessment include common-area maintenance, recreational facilities, trash collection, and snow removal?

6. What special assessments have been mandated in the past five years? How much was each owner responsible for? Some special assessments are unavoidable. But repeated, expensive assessments could be a red flag about the condition of the building or the board's fiscal policy.

7. How much turnover occurs in the building? This will tell you if residents are generally happy with the building. According to research by the NATIONAL ASSOCIATION OF REALTORS(r), owners of condos in two-to-four unit buildings stay for a median of five years, and owners of condos in a building with five or more units stay for a median of four years.

8. Is the condo building in litigation? This is never a good sign. If the builders or home owners are involved in a lawsuit, reserves can be depleted quickly. Sometimes the litigation is minor. Sometimes the litigation is a show-stoper.

9. Is the developer reputable? Find out what other projects the developer has built and visit one if you can. Ask residents about their perceptions. Request an engineer's report for developments that have been reconverted from other uses to determine what shape the building is in. If the roof, windows, and bricks aren't in good repair, they become your problem once you buy.

10. Are multiple associations involved in the property? In very large developments, umbrella associations, as well as the smaller association into which you're buying, may require separate assessments. For example, Stratford Place is a part of Kingstowne.



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Bon Air Memorial Rose Garden


The Bon Air Memorial Rose Garden is located at the corner of North Lexington and Wilson Boulevard, at 850 North Lexington Street in Arlington, Virginia. This scenic and serene rose and botanical garden occupies approximately one acre of land and features over 135 different rose varieties and houses 2,500 plant species as well. Featured roses include Hybrid Tea, Grandiflora, Floribunda, and miniature roses. The garden also hosts the latest All-American roses annually, showcasing the newest variety of roses at least one year before they become commercially available.

Bon Air Memorial Park also features an azalea garden, a shade garden, a sun garden, and an ornamental garden. Other amenities include picnic tables, charcoal grills, a babbling spring stream, a paved walking trail, tennis and basketball courts, an additional children's playground. Cultural advice and guidance for the rose garden is provided by the Arlington Rose Foundation. Call (703) 358-4747 for more information.

This beautiful and fascinating garden is a brilliant and colorful local resource that truly proves Virginia is for lovers! Whether you are a botanical aficionado or an individual who simply wants to stop and smell the roses, the Bon Air Memorial Rose Garden is a must see this spring in Northern Virginia. Park hours are from Sunrise until half an hour after Sunset throughout the year. 



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Serving real estate needs of Northern VA · in Alexandria · in Arlington · in Fairfax County ·



Fun for the Whole Family at Upton Hill Regional Park


Upton Hill Regional Park, located at 6060 Wilson Boulevard in Arlington, Virginia, offers local residents and visitors alike a versatile, wooded recreational commons in the heart of one of the most densely populated areas of Northern Virginia. The park features an outdoor swimming pool complex that includes a lap pool, a full-sized recreational pool, a separate kiddie pool, multiple water slides, and a children's water house with a huge bucket that fills up with water and empties out onto everyone in its path!! The park also features a deluxe miniature golf course as well as batting cages that include baseball and softball both.

Although the park facilities are presently closed for the winter season, the park itself remains open every day for hiking, picnicking, and playing on the playground. The batting cages and mini-golf facilities will reopen for the season in March of 2010. The water park and swimming pool complex will reopen Memorial Day weekend. In addition, Upton Hill Regional Park hosts and annual Easter Egg Hunt in early March and welcomes the whole family to come and join in the festivities. Children can enjoy hunting for eggs filled with candy as well as a moon bounce, coloring, and other games. The Easter Egg Hunt is recommended for children ages 2 through 10 and reservations are required. Call 703-534-3437 for more information or to make reservations.

Located between the Arlington and Fairfax County line at the intersection of Patrick Henry Drive and Wilson Boulevard, Upton Hill Regional Park is a great venue with a wide range of activities that provide fun for the whole family! In 2007, the Park's facilities underwent a $2 million renovation as part of the Northern Virginia Regional Park Authority's effort to attract local residents and visitors to an innovative, public facility representative of both the area and the local governments' commitment to its community.  


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Fannie Mae Launches Special Approval Designation to Support Florida Condo Market


WASHINGTON, DC — Fannie Mae (FNM/NYSE) announced today that it is undertaking a comprehensive review of hundreds of condominium projects in the state of Florida in an effort to allow additional projects to become Fannie Mae-eligible through a new "Special Approval" designation.

A dedicated team of six Fannie Mae professionals based in Florida is conducting a thorough examination of condominium projects across the state that may not currently meet Fannie Mae's standard eligibility criteria and assessing specific criteria more closely, including occupancy, homeownership association dues, financial stability of the project and property condition. Projects deemed to be sufficiently stable following the closer examination are granted a Special Approval designation, meaning lenders can originate and deliver mortgage loans secured by units in these projects to Fannie Mae.

Fannie Mae has been granting exceptions to its condominium eligibility guidelines on a case-by-case basis when requested by lenders. The Special Approval designation streamlines the process for lenders and catalogues projects across the state that are Fannie Mae-eligible. Projects deemed eligible will be listed on www.eFannieMae.com as project reviews are completed, and qualified borrowers wishing to purchase units in these projects will be eligible for financing.

"This new initiative is geared toward providing maximum support for Florida's distressed condo market as we continue to provide liquidity to the housing market more broadly," said Karen Pallotta, Executive Vice President, Single Family Mortgage Business. "The state's condo market has been particularly hard hit by the housing downturn and we're working with the industry and our partners to do all we can to stabilize the market and help spur recovery."

"NAR applauds Fannie Mae for taking this important step to make condo loans more readily available in Florida," said Moe Veissi, National Association of Realtors® First Vice President and broker-owner of Veissi & Associates Inc. in Miami. "Our state is probably the hardest hit as far as the condo market is concerned, and Fannie Mae's new effort to take a closer look at project eligibility could go a long way to putting projects back on a healthy financial track."

Special Approval designations are effective for periods between 9 and 18 months, and lenders are required to confirm the project's Special Approval designation on the date of the loan application. The Special Approval initiative is for established condominium projects only.



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Serving real estate needs of Northern VA · in Alexandria · in Arlington · in Fairfax County ·



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Alexandria House in the snow



Click here to see condos for sale at Alexandria House.


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High-rise in Old Town Alexandria at the Alexandria House


Located near the corner of Madison and North Pitt the Alexandria House Condominiums are ideally situated for getting to the busy night life of King St. as well as easy access to Crystal City and Washington DC.  In addition to its superb location it also offers excellent amenities, including:

  • Concierge service
  • A rooftop pool
  • Community party room

  • Sauna and exercise room
  • Controlled access and video monitoring of the outside
  • Additional Storage
  • An underground garage

Interested in what's available now?

With a wide variety of layouts the units come in one to three bedroom styles with hardwood floors.

The building has heat pumps and central air conditioning.  Condo fees range typically from 450-650depending on unit size.

The Alexandria House was built in 1975,  and is beautifully situated near the Potomac River and GW Bike Path along which a multitude of parks can be found.


Ben Fornshell About the Author ---  Ben Fornshell is a licensed real estate agent with Condo 1 Alexandria.  To learn more about available rentals and purchases in the area check out our free search.

 

 



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Serving real estate needs of Northern VA · in Alexandria · in Arlington · in Fairfax County ·



United States Patent and Trademark Office in Alexandria VA


Every day new products are invented, new uses for old products are discovered, and employment opportunities created for millions of Americans. The United States Patent and Trademark Office (USPTO) is a federal agency in the Department of Commerce that strives to protect the economic interests of inventors and the welfare of the public. According to the USPTO, the purpose of these patents is to "promote the progress of science and the useful arts by securing for limited times to inventors the exclusive right to their respective discoveries (Article 1, Section 8 of the United States Constitution)."

The USPTO is one of the very few government services that actually completely fee funded. This is as compared to the US Postal Service and Amtrak, which are both fee funded but run deficits requiring federal money.

The USPTO occupies five interconnected buildings in the Carlyle District of Alexandria, Virginia. This office employs over 7,000 full time staff to support its major functions---the examination and issuance of patents and the examination and registration of trademarks.

Every day young and old patent examiners move to our fair city seeking residence. Many prefer the new and sparkling appeal of the Carlyle District, while some enjoy the colonial feel of Old Town. While Old Town and Carlyle District are both closest, these areas are pricey. For those who want to live close to the USPTO but who are seeking bargains Huntington, New Alexandria or the West End are excellent alternatives.


Will Nesbitt About the Author --- Will Nesbitt is the principal broker of Condo 1 Alexandria and Will Nesbitt Realty. Will specializes in condos, townhouses and single family residences in Alexandria, Arlington, Fairfax County, Crystal City, and Kingstowne. Will resides in Belle Haven Estates just outside Alexandria VA in Fairfax County.

 



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Pool at Alexandria House


pool at Alexandria House

The Alexandria House is located on Pitt St. in Old Town Alexandria VA. Alexandria House offers spectacular views from enormous balconies in the heart of Old Town. Alexandria House is one of a very few high-rises in Old Town so it commands views north to Washington DC, south down the Potomac, west to Arlington and the Blue Ridge Mountains and east to Maryland.

The 23rd floor is home to the Drake Club---a community party room that residents can reserve for parties and get togethers. On the roof is a pool with sweeping views of the city. A great place to relax on a hot summer day. Click Alexandria House for a check of prices, map of the area and more detailed information about condos for sale at the Alexandria House.

From the Alexandria House toward Geo. Washington National Masonic Memorial



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Homes for sale near Braddock Road Metro in Alexandria VA


Braddock Rd. Metro Station bridges Old Town and Del Ray. There are several condos near the Braddock Station as well as other single family and townhouse communities.
If you're shopping for a home near a metro check out this page. It has loads of targeted searches for metro users on the Orange, Yellow and Blue Lines in Northern Virgina.



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The Alexandria House --- condos with a view in Old Town Alexandria


toward Woodrow Wilson Bridge

The Alexandria House is located a few blocks from King St. on Madison St. in Old Town Alexandria between the waterfront and the Washington St. This towering landmark of a building boasts broad wrap-around balconies with views of the Capitol, National Airport, Old Town and the Blue Ridge Mountains. This condo complex is in a spectacular neighborhood, but to me anyway, the real appeal of the Alexandria House is the balconies and the views.

Alexandria House condos

I have collected some snapshots to represent the views from these condominium balconies.

north view

This is a view from the northeastern side of the building about 20 floors up. The view is over the north end of Alexandria toward the Blue Ridge Mountains. The high-rises of Arlington are easily visible to the naked eye but in this picture Arlington is just a few bumps near the horizon on the right.

kitchen pass through at Alexandria House

In this unit the kitchen has a pass-through that allows the cook to look out to windows on three sides. In the distance one can see the Woodrow Wilson Bridge and the Potomac River.

bedroom view

The wrap-around balconies mean that even the bedrooms have balconies and tremendous views.

toward river and water taxi on Potomac

In this picture its obvious that Alexandria House is only a block or two from the waterfront. Down below one of Alexandria's many pleasure boats tools upriver toward Washington DC. Check these links for more views or information about the Alexandria House condos in Old Town Alexandria.

To search condo listings in Old Town Alexandria click here.



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Alexandria House -- condos with a view in Old Town


entrance to Alexandria House
With floor-to-ceiling windows and wrap-around balconies, the 23-story Alexandria House invites sunlight and star-gazing. Constructed of concrete and stucco in 1975, the building affords spectacular views of National Harbor, the Maryland shore, the Capitol and the landmark Masonic Memorial looming above Old Town.

Located at the corner of Madison Street and North Pitt Street, Alexandria House overlooks Oronoco Park just four blocks from the Potomac River. As if the delights of Old Town weren't enough, it boasts the following amenities:

  • Rooftop pool and observation deck
  • concierge
  • party room,
  • Sauna and exercise room
  • Security system featuring a locked main entrance and exterior cameras
  • Fire detection system
  • Storage
  • Underground garage

View of Potomac from Alexandria House

Condo 1 Alexandria 703 765 0300



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Neighbors & Friends

  • Carlyle District — All about the Carlyle District in Old Town Alexandria
  • Carlyle Info — Info for visitors, residents, buyers and sellers in and near Carlyle and the USPTO
  • Carlyle Towers — Search listings and check prices of condos for sale at Carlyle Towers
  • Carlyle Old Town --- Tools to shop and compare homes for sale in Old Town and the Carlyle District

Property Search

Fast and free search of MLS data, listings on everything available in 22314, Old Town's zip code.

  • For sale — Live data on all condos for sale in 22314 zip code.
  • Area Rentals — Live data on rentals in and near Alexandria VA

view toward Masonic Temple from Alexandria House