condominiums, houses and townhouses in Alexandria, Kingstowne, Crystal City and Arlington VA
Wednesday, December 09, 2009

contractsWhen buying a condo or, realistically, almost any other large financial purchase, you can count on the fact that at least one (if not several) contracts will be involved in the process. However, many people may not know what a contract actually is.

Even if you do know what constitutes the basic elements of a contract, it helps to have a working knowledge of the legal terminology that is typically associated with general contracts in order to fully understand their rudimentary function. And while condo owners and those who maintain rental lease agreements may have more experience with contracts than those who don’t, contracts are nonetheless very much a part of every day life for most people (think: contracts with your cell phone company or signing a credit card slip after making a small purchase). What follows is intended to serve as an introduction to contract principals and, hopefully, provide some helpful information to individuals who want to know a little more about basic contract law.

What is a contract?

It's a deal.At its fundamental core, a contract is a legally binding agreement between two parties where a valid offer made by one party is accepted by the other, which is indicated by some mutual exchange of value. Under common contract law, this mutual exchange of value is called "consideration", which must be reasonably relied upon by both parties who agree to contract. Therefore, the three most fundamental elements of all legally valid contracts are offer, acceptance, and consideration.

What types of contracts are there?

There are a variety of legally viable contracts under current common law standards, not all of which must necessarily be in writing. A contract can be written, oral, or implied depending on the parties' actions at the time of the original contract formation. For example, a written document that claims to be a contract is often no more than evidence of the details of the contract, and not the contract itself. A valid contract offer must indicate a desire to enter into a contract (and thereby invite acceptance); should indicate a time period for acceptance; and must reasonably indicate that upon acceptance the contract will form without further approval from offeror. Here, it is the traditional practice in most situations to determine the details to which both parties agree and to transcribe the specifications into writing. This is particularly important if either party wishes to modify the contract at a later time.

In addition, signing a written document is not necessarily an act of acceptance that therefore creates a contract. If the parties have already reached an agreement the written document and signatures may be introduced to the courts as parole evidence of an already existing agreement, but may not determine the validity of the contract on its own. If, for example, the court determines that the original offer was in fact rejected or, if there was a counteroffer which was accepted but without any new consideration, the written and signed contract may prove not to be a contract at all.

Alternatively, if there is nothing in writing or if parts of a written contract are missing, a court may hold that there was an implied contract that existed between the parties and in this instance, a list of the complete terms is not always required. In real estate transactions, for example, an incomplete description of a property may still validate the terms of the contract where the intent of the parties would be used to clarify the specific obligations or missing information that was otherwise implied. On the other hand, to be enforceable, a property sales contract must be written in some form (even if it is incomplete) and oral agreements to sell real estate are not legally binding. In real property contracts, the contract must identify the buyer, the seller and the property itself, even if some details are omitted. Lastly, a real estate contract must establish a purchase price and the terms of the sale in order to validate the agreement.

Finally, a contract can be either unilateral or bilateral in nature. A unilateral contract is a promise for an act where acceptance of the offer is synonymous with the performance of the act and thus, a contract is only created when the act itself is done. Until then, the offeror reserves the right to withdraw the offer. For example, if I offer to pay you $20.00 to jump into the mud, you can either accept my offer by jumping into the mud and I would owe you $20.00 or, if I decide that I would rather keep the money, I can choose to withdrawal my offer so long as you have yet to jump in.

A bilateral contract, in contrast, is a promise for a promise where, as soon as promises are exchanged, both parties are instantly bound by each promise respectively. The vast majority of contracts are bilateral. Here, if I promise to give you $20.00 and you promise to jump into the mud, the contract is accepted by this exchange of promises and not by the performance of the promises themselves.  

So...what did we learn?

While there are many, many other legal constructs that are fundamental to basic contract law (all of which are best left to a legal or other certified professional who can advise you of your rights and responsibilities), the golden principals of all contract law include an offer, acceptance, and some consideration that can be reasonably relied upon by both parties in order to make the contract legally enforceable. While there are different kinds of contracts which include oral, written and implied contracts, all jurisdictions within the United States require that certain kinds of contracts, such as those involving real estate transactions, must be in writing and, in such cases, must identify the buyer, the seller, and the property itself, as well as the purchase price for the property.

Lastly, a contract can be either unilateral or bilateral and knowing the distinction between the two outlines the liability and responsibility that each party may or may not assume. One of the many benefits of living in a free market is that anyone who is legally competent to contract (save for juveniles and those who are legally defined as mentally incompetent) has the right to do so. This is a powerful right and one which must be used responsibly and knowledgeably. The more you know about these kinds of the contractual agreements, the more prepared you will be to make educated decisions when, and if, you decide to sign on the dotted line.

Wednesday, December 09, 2009 1:59:45 PM (Eastern Standard Time, UTC-05:00) | Comments [0] | condo comments | Featured | general | real estate anecdotes | real estate law#
Wednesday, December 02, 2009

We can all agree that there are two things we all want: a little more money and a little better environment. With that in mind many communities, especially condominium complexes, are working harder than ever to--- literally--- make money grow on trees.

Better than a hybrid ...

Mother EarthA mass study of recent recycling and envori-friendly residential communities found that people who move into compact areas have a lower carbon footprint than folks living in outlying areas. The study refers to metropolitan residents as “green living" because folks who walk to the metro, to shops and to work have a much reduced impact on the environment. Common sense tells us that condo residents in compact areas will use less fossil fuels than outliers who buy even the most efficient hybrid vehicles.

Market research and personal experience indicates that the majority of future housing demand will be found in houses, townhouses and condos where jobs and activities are close by. People need and want homes where public transportation is easily accessible. Simply by living in highly compact neighborhoods such as Rosslyn, Courthouse, and Clarendon residents contribute greatly to the cause of protecting our natural environment through reduced fossil fuel emissions. .That's right, even in extremely urban areas such as metropolitan Northern Virginia, you can do your part to keep our environment clean and green.

Recycle!

recycle!In Arlington, Virginia local ordinances require condominium properties and business to recycle. The goals of the Arlington County are basic but important and their aim is to:

  • Make it easy in Arlington to recycle at home, work and play.
  • Reduce waste and greenhouse gas emissions.
  • Exceed Virginia's mandatory recycling rate.

Outside of Arlington, it's rare to find condominium communities in Northern Virginia that don't offer recycle bins. The economic benefits of recycling programs within a condominium community can really help our environment and our bottom line. Recycling:

Arlington County recycles
  • Keeps condo fees down;
  • Reduces trash disposal;
  • Rebates some trash fees to those who haul the recycled material;
  • Reduces manufacturing costs;
  • Fuels the U.S. economy --- both jobs and sales are created by recycling.

Want to help our environment? Get involved.

So for all you concerned condo owners who would like to get involved and make a difference in your community, here some basic information for residents of condos regarding what you can do right now:

  • Get involved and begin by telling others who live in your condo or any multi-family property how easy it is to set up recycling systems for newspapers, glass bottles and jars, and metal food and beverage containers. Knowledge is power!
  • When preparing materials for recycling, residents should follow property manager instructions or use a guide such as the one available on the Arlington county website.
  • Establish and maintain a recycling program for residents to recycle and reuse all required recyclable materials. Here, the recycling collection system must be separate from trash/ refuse collection. Properties are encouraged to include additional recyclable materials such as plastic bottles and jugs, magazines, mixed paper, and corrugated cardboard.

By demonstrating environmental leadership you can publicly show your commitment to the environment by raising the recycling bar to your condo communities' recyclable goods facility by adding mixed paper, cardboard, and yard waste to your recycling program. Your personal conviction to save to environment will increase community interest in recycling participation and because going green is the new black, you don't even have to be a tree-hugging hippie to make both your social status and the planet a little cleaner.

If you're looking for a green condo in Northern Virginia, some new developments like 900 N. Washington have a environmental conscience. Contact me for details.

Wednesday, December 02, 2009 10:38:14 AM (Eastern Standard Time, UTC-05:00) | Comments [0] | about condos | Arlington | Arlington County News | condo comments | condo ownership | Featured | The Spectrum | walk to metro#

Although there are numerous benefits to owning a condo which include the lifestyle that such ownership entails; individuals living as single, young professionals who are just starting out, are arguably the most notable beneficiaries. The economic benefits that condo ownership provides for this particular demographic are two-fold. First, owning a condo is certainly less expensive than owning residential property insofar as the material upkeep and residual costs that homeownership necessitates. Second, most contemporary condo buildings offer a host of wide-ranging amenities that would command a considerable cost to an individual homeowner but which can be enjoyed instead at a significantly reduced rate to condo-owners who share jointly in the overall expense. These otherwise high-priced features and amenities usually include guarded and/or private, enclosed parking; 24-hour security and front desk staff; indoor and outdoor swimming pools; clubhouses; gated recreational facilities; etc., etc. (the list goes on and on!!). To that extent, condo ownership is therefore an ideal middle ground for the single, young professional who may very well aspire towards homeownership someday but who still remains a far cry away from white picket fences, two-car garages and 2.5 children.

In addition to the economically sound benefits that condo ownership provides, there are other elemental and lifestyle benefits that are associated with condominium ownership as well. Today, there are as many types of condominiums out there as there are types of people. Plainly put, the condominium marketplace has progressed with such rapidity that the variety and availability of choice in condo options is as original and unique as individual homes. Thusly, each type can satisfy the different needs of different individuals and therefore enhance and accommodate every kind of lifestyle. For example, there are distinctions between what are popularly thought of as 'condominium apartments' versus those that are known as 'condominium townhouses', which might have small differences from one another save for their structure regulations. There are also condominiums known as freeholds whereby a condo owner owns the plot of land as well as any structure on the land such as a house or townhouse.

Finally, for single or young professionals who are still growing into their grownup-ness, condo ownership signifies an increase in responsibility and a commitment to ownership. To be clear, condo living isn't like renting a single dwelling home or apartment and this is due to the dual nature that comes with owning any condo unit. Condominium owners hold ownership over their respective units but, additionally, each owner is also responsible for the operating costs and maintenance of the all of the shared elements on the property such as lobbies, passageways, and elevators. Here, owning a condo is effectively choosing to live within a community of other condo unit owners and thus, your neighbors. Each condominium complex is a unique community and each owner accepts the rules and regulations that are equally unique to condo living.

In a condominium complex, you also become part of a distinctive community where you as an individual become an integral part in the community as a whole; and this includes being an essential part of the decision making process. However, the advantages that come with shared communal facilities like the pool, clubhouse, and state-of-the-art gym are collectively a strong incentive to watch your neighbors' back.

In summation, owning a condo can provide both economically sensible and personally enjoyable benefits to any owner looking to buy but especially for individuals who are single, working and fairly young professionals who are new to the game but ready for more. In addition, because of the multiplicity and vast assortment of condominium units and styles that are available, condo ownership includes something for everyone. Lastly, although buying a condo certainly signifies a new level of maturation and grownup responsibility; the advantages to living in a shared community and to be able to engage as an honest and responsible neighbor will hopefully serve you both by keeping your pocketbook and your sense of self a little more full.

Wednesday, December 02, 2009 7:52:07 AM (Eastern Standard Time, UTC-05:00) | Comments [0] | about condos | buying a home | condo buying | condo comments | condo ownership | Condominium Communities | Featured | general | new condos | townhouses | Virginia#
Thursday, November 12, 2009

Recent studies suggest that single women currently make up approximately 47 percent of the condominium buying market in the United States. The reason is pretty obvious, if you think about it. Condominiums are an increasingly popularly housing choice for single women because of the various benefits that condos offer including convenience, security, and often virtually maintenance-free living.    

For starters, security matters. For single women living alone in large, urban areas, one of the many benefits of living in a condominium are 24-hour concierge and security desks, video and security cameras in hallways and stairwells, and gated or enclosed parking areas. So if you're thinking about buying a condo, carefully consider first the kinds of security features and amenities that are available in the unit; very often peace of mind is worth its weight in condo fees. Additionally, it's important to know your potential new neighborhood. Condominiums tend to be located in urban areas where there are other young, working professionals as well as families. Make sure you know your neighborhood inside and out before you make an offer on a condominium and check the local county website for crime rates, local community news, and other annual statistics and reports.

Next, convenience is the key. Another factor that is crucially important when considering buying a condo if you are living as a single professional woman. In many condominium communities and developments there are office personnel to receive packages as well as other day-to-day business services such as dry cleaning, tailoring, and spa and fitness facilities. Some of the larger condominium developments also feature even more advanced amenities such as a grocers, bank branches and ATM's, and many other services that make a single working woman's life just a little easier.

Finally, consider maintenance in relation to time and money. Many single family homes require lengthy, time consuming and ongoing maintenance such as painting every three to five years, worrying about pipes freezing during the winter or getting the rain gutters cleaned. While it's true that you as a condo owner must be financially responsible for the upkeep and maintenance of your condo's common area, typically condo associations oversee the day-to-day management of the property itself. What does this mean for the busy single woman? Well, if the doors stick and the roof springs a leak, you can bet that your sassy self won't be called upon to find someone to fix it. But be sure to check your condo buildings' rules and regulations first. Most condo associations have a list of rules and regulations that you will have to agree to before you purchase a unit in the building. These rules may limit the number and weight of pets; how many visitors you can have at a time including how often and for how long; if you can rent out your unit; and when you can have work done in your unit. Ask the listing broker for the complete set of building rules and regulations.

Before you make an offer on a condo you want to be sure to consider what matters to you most as a busy single woman and those major concerns include safety and security, convenience and location, and matters of maintenance compared to other home ownerships costs. Happy Hunting Miss Independent!

Thursday, November 12, 2009 7:16:15 PM (Eastern Standard Time, UTC-05:00) | Comments [0] | amenities | condo buying | condo comments | condo ownership | Condominium Communities | Featured | general | new condos | renting a condo#
Thursday, July 30, 2009

Four Winds of Oakton

In an area crisscrossed with high volume commuter routes and heavily-trafficked Interstates, it's inevitable that some folks are going to live in close proximity to a highway. It's great to be near the Beltway or Route 66 because this can take a serious bite out of your commute. But the downside is that the highways can generate a lot of noise. In most areas, there are towering concrete walls to dampen sound in the neighborhoods in close proximity to the Beltway, I-66, I-395 and other highways.

In the picture above the wall has been taken down as work crews expand the road. Once the expansion is completed, they'll reassemble the wall. There's not much you can do about construction, but once the wall is back up, the neighborhood should be relatively quiet. In the homes and condos closest to the walls, I find that the noise sounds a bit like a waterfall---a wooshing white noise that is not particularly offensive. The noise is perhaps worst near an exit. Exit ramps create noise because every so often a trucker exiting the highway will use his "jakebrake". That is to say, the truck will gear down and emit a loud, low growling noise not unlike a Harley Davidson's loud pipes.

Here's a thought to consider if you are purchasing a condominium near the highway. In my travels I've found that the condos at the ground floor are much quieter. This is because the condos on the top floor are often just above the sound-break and therefore get the full brunt of the highway noise. Some folks like the noise ... it sounds like busy and they like being in the city. Some folks can't stand the noise and find out the hard way ... after they've purchased ... that they could have gotten a first or second floor unit.

 


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.
Thursday, July 30, 2009 5:58:31 AM (Eastern Standard Time, UTC-05:00) | Comments [0] | buying tips | condo comments | City of Fairfax#
Monday, July 27, 2009

The answer depends upon what you want.  Aside from the obvious differences of having more green space with most single family homes, such as those in Belle View versus the tighter nit community potential in a hi-rise condominium or town-houses there are other, harder to see, but no less profound differences.

Single Family Home Benefits

  • Absence of monthly homeowners or condo fees
  • Less stringent rules and regulations
  • No homeowners or condo association that can impose restrictions without your consent
  • Fewer parking restrictions and fees

Condo and Town House Benefits

  1. No need to save money to cover what condo fees will cover:
    1. Roof repairs/replacement
    2. Common area repairs
    3. Yard Maintenance
    4. Maintenance, paving, and plowing of the driveway, sidewalks, and curbs.
    5. Siding and gutter maintenance or repair
  2. Some have controlled access
  3. On site community amenities from club rooms to pools and exercise rooms
  4. Many have improved public transit service, shuttles to metro service, etc

 


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.

 

 

Monday, July 27, 2009 7:16:43 PM (Eastern Standard Time, UTC-05:00) | Comments [0] | Ben Fornshell | buying a home | condo comments#
Wednesday, July 22, 2009

Some folks like to imagine that buying a condo is like buying a house without yard work. In some ways this is true, but it many ways it does not tell the full story. There are real differences between buying a condo, whether you are a first time buyer seeking affordability, or if you are a long-time homeowner down-sizing. 

Legal

Consider the legal limitations of condominium ownership. For example, the title of a single family home provides to the owner near total control of any legal use of the property. That means total control of the landscaping, the colors of the house and the types of windows and doors you have.

But condos are titled differently.  The governing documents in a condominium complex describe common areas and shared resources. The common area and shared portions of the property are controlled by a---sometimes burdensome---democratic apparatus of owners in the complex. The association might restrict the color you can paint your door. It is not uncommon for the association to decide what plants are planted and what types of windows you may install.

On the other hand, some homeowners associations make similar restrictions. A cynic might note that a homeowner does not have control over the street or "common area" that is controlled by the county. In a real sense we all have an association with the community at large. It's just a matter of where the community starts and what responsibilities we cede to the community.

In a single family home, community control begins at the curb, but in a condo, community control begins somewhere just beyond the paint on your walls.

Lifestyle

Because the community has shared elements, condo owners don't just have neighbors. Instead, condominium owners actually live next door to their investment partners. Condominiums force a relationship with your neighbors that goes beyond what the owner of a single family home might find. If your neighbor ruins the carpet outside his door, he ruins your carpet too.  

Life is simpler in a condominium: you don't need to worry about maintenance. Many times some or all of the utilities are managed by the association.  Often the building insurance is managed by the condo association.  Freedom from responsibility means less control and less choices about the community: but do you really care who cleans the gutters?  Do you really want to spend your life picking the insurance company?  If not then, a condo might be for you.

Condo Benefits

Condos are a lifestyle choice. In Northern Virginia, where prices are high and choices are limited, condo ownership makes a lot of sense. However, condo ownership has unique challenges and aspects that you should fully understand before buying. 

If you choose a condo specialist like us, you'll know that we have answers to important questions.


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.
Wednesday, July 22, 2009 6:13:16 AM (Eastern Standard Time, UTC-05:00) | Comments [0] | condo buying | condo comments | general#
Monday, July 20, 2009
The Sycamores at Van Dorn offers garden-style condos in close proximity to the metro. The setting is quiet and pleasant despite being remarkably close to the Beltway.

Like many of the garden-style condos built in Northern Virginia area after about 1990, the Sycamores has a breezeway with broad wooden stairs in the common area. This design greatly reduces condo fees for several reasons. Firstly and mostly, maintaining and operating a safe elevator can be a big part of your condo fee especially in a smaller community. Older condos with stairs on the outside of the structure need more maintenance than stairs in a roof. The breezeway at the Sycamores is the best option for keeping condo fees low because there is no carpeting to maintain on the stairs and there is no bill to heat and cool the common areas.

 


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.

 

Monday, July 20, 2009 7:20:34 AM (Eastern Standard Time, UTC-05:00) | Comments [0] | condo comments | condo ownership | garden-style  | Surrey | Sycamores at Van Dorn#

For some people one of the benefits of condo living is that everything is on one level. Many there are no stairs inside the unit of some condominiums. For those in wheelchairs, for the elderly, or for those who just like life without stairs, this is a big advantage. But for some people, life on one level is just not enough.

Lofts and bilevel condominiums offer condo-style living, but doesn't limit life to just one level. One of my favorite examples of this is found in the top floor units at the Tiers of Manchester.

chalet-style condominium in Northern VA

The Tiers are "swiss-style" condominiums. Their roof lines echo the high-pitched roofs favored in Alpine cottages. In Switzerland these roof provide the pitch needed to get excess snow off the roof. But in Manchester Lakes, these roofs provide opportunities for dramatic overlooks in the condo itself.

loft at the Tiers

The pitch of the roof allows for high angled ceilings and the placement of a loft over-looking the living area.

It's difficult in a photograph to show how this brings a real feeling of spaciousness to the condo. The lofts here also provide bonus space for storage and closets under the eaves of the roof. The loft is easily accessed by way of a spiral staircase that only adds to the dramatic feel of these condos.

In Kingstowne has a good many condominiums with lofts and the Tiers of Manchester and Eton Square are just two of my favorites. To check pricing and availability on these go to Tiers or Eton Square.

fireplace at the Sycamores of Van Dorn

Lofts are dramatic and very appealing but they aren't for everyone. Another alternative in you're looking for a multi-level condo is the townhouse style layout found at the Sycamores at Van Dorn.

The Sycamores is one of many garden-style condos in this area that offer townhouse-style floorplans in a garden-style condo. This give you all the benefits of condo life (low maintenance, amenities) with the homey feel of a townhouse. In condos such as these, the bedrooms are upstairs but the kitchen and living room are downstairs. In some condos like the Sycamores and Old Town Village, most or all units have a townhouse style unit. In other condos, such as Eton Square in Kingstowne or Worldgate near Reston, on the the top floor units have the townhouse-style unit.

But there is yet one more way to get a multi-floor condo.

The Fountains of Alexandria

Some high-rises offer units with multiple floors. For example the Fountains in the West End of Alexandria VA, have units that occupy two floors. The Fountains is also one of the most affordable condominiums in Northern Virginia and features a convenient location that is easily accessible via I-395 or public transportation. The Atrium in Arlington VA is a high-end condominium in Rosslyn that has dramatic two-level units with two-story windows.

There are plenty of choices these days. Contact us to find a property that will fit your tastes, budget, commute!

 


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.

 

Monday, July 20, 2009 6:07:27 AM (Eastern Standard Time, UTC-05:00) | Comments [0] | Atrium | condo comments | Condominium Communities | Eton Square | garden-style  | general | Manchester Lakes | Sycamores at Van Dorn | The Fountains | Tiers of Manchester#
Thursday, July 02, 2009

http://www.condo1mortgage.com/One of the greatest skills that a Realtor can bring to the table for you is a knowledge of property values across a wide range of areas.  For a seller or landlord, this means you strike the right balance between getting the most value from your home and selling or renting it in a time frame that allows you to either move or capitalize on your investment.

Simply looking at a neighbor's property and assessing yours based on their sale is fraught with dangers.  Realtors factor in not only differences in construction, floor plans, and location, but also have their finger on the pulse of the market.  The same stands true equally well for buyers and renters.  As a buyer looking for a bargain is key, but setting standards to high for a price range can result in wasted time, or worse yet buying an apparent steal in an area that is an investment nightmare.  Renting places you in similar straights.  Year long leases can be just as binding as buying a new home, forcing you to suffer through details that a trained Realtor will notice in your new home.



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

 

Thursday, July 02, 2009 10:11:56 AM (Eastern Standard Time, UTC-05:00) | Comments [0] | Ben Fornshell | condo comments | condo selling | general#
Wednesday, April 22, 2009
Condominiums are found all over Northern Virginia. From quiet communities along Fort Hunt Road at River Towers and Belle View to glamorous high-rises like Carlyle Towers or the Eclipse to urban luxury in Rosslyn, there are plenty of choices in Arlington, Alexandria and Fairfax County.

A condominium is usually a housing unit or apartment in a multi-unit building in which each unit is individually owned, while common areas and the property in general is jointly owned by the residents and the owner of the building, or all of the residents together. Some people choose to purchase and live in a condominium because some condos are less expensive than a traditional single-family house. Additionally, many condo's have added amenities and facilities.

Before deciding to purchase a condominium, it is important to do your research into both the legal and practical aspects of owning a condominium. As with any home purchase, location, size and price are important. With a condominium you'll also want to understand the ownership scheme. This type of information is found in the "condo docs" or condominium documents. Most states, and the Commonwealth of Virginia, require condo doc disclosure before any purchase contract is finalized. The condo docs will contain detailed information on the ownership and property rights of the condo and its owners. The rules of the homeowners association are generally explained in the condo docs in plain English (and not in legal jargon)? It's important to read the condo documents to understand the annual maintenance and upkeep fees, as well as to obtain a full understanding of exactly how much control the association have over the regulation of the property?

Condominiums can be found all over the country, with more being developed each year. Condominiums are quite common in Northern Virginia and the National Capitol area. Some condo's are new construction and a few are apartment buildings that were rental apartments before making the switch.

In newly constructed condos, it's common to find a sales office on-site at the condominium. And whether your buying from a condominium owner or a condo office, it's a good idea to take a guided tour of facilities and the units that are available for purchase. Of course, many new condominium offices have staff that act as sales agents. Potential condominium owners can make an appointment to meet with a staff sales agent to discuss interest in condo ownership. However, when you're in the market for a condo, it's a good idea to employ your own real estate agent rather than rely on the services of the condominium staff. Your real estate agent will have an understanding of the condominium ownership structure and the condominium documents and the real estate agent can explain what this means to you.

Although there are various types of condominiums, the most common legal arrangements involve individual ownership of each unit, with joint ownership of the communal or common areas by all of the residents in the building. You might be surprised to learn the variety of sizes found in condominiums. Condos range from studios and one bedroom apartment, to a four bedroom penthouse apartment. Even condominiums with the same number of bedrooms can have different floor plans and different numbers of bathrooms and half-baths.

While some condominiums are located in large multi-unit buildings, others may be detached form each other and be located in a gated or planned community. Some condominiums may be located in resort or vacation destinations. Besides total cost of the property, you should also inquire as to the annual homeowners association costs. These fees are usually charged in order to pay for the upkeep and maintenance of the common areas. Owning a condominium can be one of the largest investments you make, so make sure that the one you choose can accommodate your specific needs. Purchasing a condominium can be a great way to buy a property in the location you really want with all the amenities you seek.

Wednesday, April 22, 2009 6:57:01 PM (Eastern Standard Time, UTC-05:00) | Comments [0] | Belle View | Carlyle Towers | condo comments | Condominium Communities | River Towers#
Wednesday, February 25, 2009

People choose condominium life for a number of reasons. Some condos are less expensive than a traditional single-family house. Additionally, many condos have added amenities and facilities which an individual cannot afford on his own. Most condominiums have amenities you won't find on a similarly priced single family residence.

For example, a typical condo has (at minimum) a pool, a work-out room, and party room. A similarly priced house would not enjoy these amenities. Another benefit of condo living is that owners share in the burden of maintenance and lawn care. This means that some of the exterior maintenance and lawn care is provided by the condo association and the expense of that care is part of your monthly condo fee.

Many older condos have utilities included in the price of the condo fee. In new condos it is more typical to share the cost of water, but individually pay for other utilities.

Condo life in some ways is simpler for active lifestyles. Many condo owners choose condo life because they love life and they don't want to be bogged down with maintaining a lawn or cleaning gutters. A condo owner can walk out the back door and enjoy a dip in the pool while the other guy is spending time writing checks to pay his utilities.


Wednesday, February 25, 2009 3:18:32 PM (Eastern Standard Time, UTC-05:00) | Comments [0] | about condos | Condo 1 Alexandria | condo comments#

A condominium is real estate with certain specific properties. Although there are various types of condominiums, the most common legal arrangements involve individual ownership of each unit, with joint ownership of the communal or common areas by all of the residents in the building. Condominium developments can be commercial or residential.

In the case of residential property, a condo can be composed of one or more a high-rise buildings, garden-style buildings, townhouses and---in special causes--even consist of individual houses. While some condominiums are located in large multi-unit buildings, others may be detached form each other and be located in a gated or planned community. Some condominiums may be located in resort or vacation destinations.floorplan at Montebello

Most usually, a condominium is a housing unit or apartment in a multi-unit building in which each unit is individually owned, with common areas and the property in general jointly owned by the residents and the owners of the building, or all of the residents together. So the structures that make up a condominium complex are divided into living units, which are each owned by individuals. Jointly, these unit owners all have an interest in the rights and duties of the common areas, such as the parking lot, lobby, roof, etc.

Wednesday, February 25, 2009 3:15:38 PM (Eastern Standard Time, UTC-05:00) | Comments [0] | about condos | Condo 1 Alexandria | condo comments#

This article is reprinted by permission from CondoBenefits.com

Advantages

  1. Condos on average are more affordable then other types of housing.
  2. Maintenance of the exterior of the building will be take care of.
  3. The peace of mind living next to neighbors if help is needed.
  4. Condos can be located in major cities surrounded by restaurants, night clubs, and local bars.
  5. Many condos offer a pool, gym, and basketball/tennis court for those who are active.

*Bonus*

Condos are often located in high rise building making for spectacular views.

Disadvantages

  1. 1. There are condo rules by the condo corporation that would have to be followed.
  2. Condos can have additional fees such as corporation fees.
  3. Only your interior walls inward are own by you (depending on which type of condo you own.)
  4. You will have to share the pool, gym, and basketball/tennis courts will your other neighbors.

Self Search of Real Estate in Northern Virginia

To search properties on your own, please select the city or county closest to your destination and the type of property you seek.

If you have questions, we're here to help. Click here if you'd prefer for us to do the search.

Wednesday, February 25, 2009 2:19:46 PM (Eastern Standard Time, UTC-05:00) | Comments [0] | condo comments#
Tuesday, February 24, 2009

The best part about owning a condo is that your condominium sets you on the path to financial freedom. The worst part about buying your first condo is that buying a condo usually costs more monthly cash flow than renting an apartment. 

While it often costs more per month to buy than to rent, in most cases, all that extra money comes back to you at the end of the year in the form of tax refunds. Best of all, next year your mortgage will be the same amount and your debt will be reduced. With an apartment your money is gone and your rent will surely have a rent increase. Before deciding to purchase a condominium, it is important to do your research into both the legal and practical aspects of owning a condominium.


Tuesday, February 24, 2009 3:11:53 PM (Eastern Standard Time, UTC-05:00) | Comments [0] | Condo 1 Alexandria | condo comments | general | about condos#
Monday, February 23, 2009

Potential condominium owners can make an appointment to meet with on-site staff sales agent to discuss interest in condo ownership. However, when you're in the market for a condo, it's a good idea to employ your own Condo 1 Alexandria real estate agent rather than rely on the services of the condominium staff. There is a difference!

On-site are employed by the builder. As such they are motivated to show you why their development is a fine development. On the other hand, a Condo 1 Alexandria agent works for you and has no reason to drive you toward a particular site or building. I want to find the best property for you.

Whether you're buying a used condominium from a condominium owner or a new condo from a condo office, it's a good idea let Condo 1 Alexandria take you on a guided tour of facilities and the units that are available for purchase. Your real estate agent will have an understanding of the condominium ownership structure and the condominium documents and the real estate agent can explain what this means to you.

Monday, February 23, 2009 3:21:29 PM (Eastern Standard Time, UTC-05:00) | Comments [0] | Condo 1 Alexandria | condo buying | condo comments | Jamieson | Turnberry Towers | Waterview#
Friday, January 02, 2009

Here's a hypothetical question to ponder.

chalk outlineA salesperson named Roscoe has a client named Zane. Zane is a long time friend of the family and he listed his luxury condo for sale with Roscoe. Zane's condo is beautiful, immaculately clean and in a nice part of town.

But things get a little complicated from here.

Zane's condo was the site of a widely publicized and grizzly murder of a celebrity who lived in Zane's building. The celebrity's body was found in Zane's second bedroom. As a result of the murder, Zane had weeks of bad dreams until finally he moved to a hotel and enlisted Roscoe's services. Roscoe put the condo on the market and shortly there after it sold at open house to Deanna. Deanna thought it was sort of cool to be connected to the celebrity.

Roscoe kept in touch with Deanna through annual calendars and then a few years later when Deanna was ready to move she asked Roscoe to list the property. Roscoe listed the property for sale but he neglected to either disclaim or disclose the murder.

Sally bought the condo and then one night while reading Wikipedia, she finds out that her home was the site of the celebrity's final moments on this earth.  Sally uses that room for her nursery.

Since Deanna and Roscoe did not disclose the murder, does Sally have an action against Roscoe, Deanna or for that matter Zane?

In the Commonwealth of Virginia, there is no requirement to disclose (or disclaim) "stigmatizing events".

Stigmatizing events are events which have no physical affect on the property. So, whether the property was the site of a homicide, felony, or suicide, the seller and agent are not required to disclose the event.

Friday, January 02, 2009 5:14:09 PM (Eastern Standard Time, UTC-05:00) | Comments [0] | condo comments | real estate law | Virginia#
Friday, December 19, 2008

Many people picture a high-rise building filled with apartments when they think of a condominium. But, not all condos are high-rises. In fact, not all condos are buildings, much less hi-rises! For example, a bare land condo  is a condominium in which the owner owns land only.

Even horses are getting into the act! Some stables have gone condo. In a stable condo, the owner purchases a single stall for his horse in a stable, but shares the stable and grounds with other horses and owners. At a marina, it is possible to condo a single slip from a dock. In both cases, the owners pay a fee to the association for maintenance, but in both cases, the owner is solely responsible for his interest in the condo.

A more common type of condominium is the garden-style condo. Garden-style condos are one to five floors of condominiums and usually don't have an elevator. From the exterior, townhouse condos look exactly like regular condominiums.

It is even possible to have a single family residence titled as a condo. This can happen in a vaction community where the association maintains the exterior and grounds of the house, while the owners have possession of the interior of the house.

This article was reprinted by permission from CondoBenefits.com. If you are a condo expert or if you would like a link from CondoBenefits.com just drop me a line. I'm building a directory of condo experts from around the country at that site and would love your input!

Friday, December 19, 2008 4:01:25 PM (Eastern Standard Time, UTC-05:00) | Comments [0] | about condos | condo comments#
Friday, November 28, 2008

If you're thinking of buying a new condo, you probably already know that every new condo development will have its own sales staff. These people are often friendly, helpful and very knowledgeable about the new condominium. However, these folks work to sell this property only. The on-site staff of a new condominium knows the property as-well-as or better than anyone around and they are there to assist you but they work for the builder.

When in the market for a new condo, it's a good idea to employ a condo expert such as Will Nesbitt of Condo 1 Alexandria to protect your interests. A condominium agent knows the entire area, not just one property. An expert knows the pitfalls and benefits of buying new, and best of all it won't cost you one dime more than if you use the onsite staff. You have a right to representation: exercise that right today!

 

This article was reprinted by permission from CondoBenefits.com. If you are a condo expert or if you would like a link from CondoBenefits.com just drop me a line. I'm building a directory of condo experts from around the country at that site and would love your input!

Friday, November 28, 2008 4:02:38 PM (Eastern Standard Time, UTC-05:00) | Comments [0] | 900 N. Washington | Condo 1 Alexandria | condo buying | condo comments | new condos#
Thursday, November 06, 2008

Old Town over Whole FoodsThe goal is to find the rental that suits all of your needs, most of your wants and fits your budget. What's the most effective choice to realize that goal? You can:

Do it yourself; or

Enlist the services of a rental agent.

If do it yourself, then you are in effect your own rental agent. That means you must rely on your own personal knowledge of the area and your own contacts to find your perfect rental. Of course, you could change your own oil, put in your own stitches and you could cut your own hair, too. The only difference is that you have pay for these services and a rental agent's services are totally free to the renter!

A rental agent's job is to listen to your needs and then help you identify rentals that meet your needs. rental agents typically have in depth knowledge of the community and they are often aware of market rates. It's not uncommon for a "connected" rental agent to know of rental opportunities that are quietly listed and generally unknown to the public. A rental agent's fees are paid by the landlord, so there is no expense to the renter.

It really is in the renter's best interests to employ the services of a trustworthy rental agent.

The problem is many rental agents really only work for one landlord and thus only support their employer's building(s). Any agent at an apartment complex will only show properties at that complex or at another complex owned by the same landlord.

Many realtors and real estate agents won't deal with renters. Here's why.

After all the fees are paid, a rental agent generally makes about one eighth of a single month's rent for a rental. For a typical one bedroom apartment in the DC area the rental agent is often paid a paltry $160. (No withholding and no benefits.) So it's tough to find a rental agent who cares about your needs. Additionally, many renters are oblivious to the benefits of professional assistance and don't really take best advantage of the rental agent's expertise.

Thursday, November 06, 2008 7:47:39 AM (Eastern Standard Time, UTC-05:00) | Comments [0] | condo comments | renting a condo#
Thursday, October 09, 2008

A buyer recently asked me to do a comparison of condos that are at and around the Huntington Metro. For those who don't know the Huntington Metro is the last stop on the Yellow Line, in Fairfax County Virginia, just outside Alexandria. The Yellow Line is my favorite Metro line because it doesn't have many stops and the ride from Virginia to DC is generally pleasant with nice views of Alexandria and the Potomac. The Huntington Metro has plenty of parking, but it is surrounded by condos and townhouses that have easy access to Huntington's upper and lower levels. The upper level of the Huntington Station exits onto North King's Highway. The lower level of Huntington Station exits onto Huntington Ave. Both exits have plenty of support from buses, but the lower level has better support from taxis.

The condos that I selected for this comparison are Huntingon Club, Hunting Creek Club, the Midtowns of Alexandria and Montebello Condos. I selected these condos because they are within walking distance of the metro. Each of these condos offer different values for different folks. I'm going to break down some of the features of condos in general and then speak to the differentiators between these condos.

Condo 1 Alexandria serves Alexandria, Arlington, Falls Church and Fairfax County

  • For sale --- Live data on all condos for sale in 22303 zip code.
  • For rent --- Live data on rentals in 22303 zip code.
  • Homes for sale --- All homes for sale less than $500,000 in 22303 zip code.
  • Homes for sale --- All homes for sale from $300,000 to $700,000 in 22303 zip code.
  • Homes for sale --- All homes for sale over $650,000 in 22303 zip code.

Thursday, October 09, 2008 5:05:01 PM (Eastern Standard Time, UTC-05:00) | Comments [0] | condo comments | Huntington Club | Midtown Alexandria Station | Montebello | Near Huntington Metro#
Monday, October 06, 2008

As with any home purchase, location, size and price are important. With a condominium you'll also want to understand the ownership scheme. This type of information is found in the "condo docs" or condominium documents. Most states, and the Commonwealth of Virginia, require condo doc disclosure before any purchase contract is finalized. The condo docs will contain detailed information on the ownership and property rights of the condo and its owners. The rules of the homeowners association are generally explained in the condo docs in plain English and not in legal jargon. It's important to read the condo documents to understand the annual maintenance and upkeep fees, as well as to obtain a full understanding of exactly how much control the association have over the regulation of the property.

Condominiums can be found all over the country, with more being developed each year. Condominiums are quite common in Northern Virginia and the National Capitol area. Some condos are new construction and a few are apartment buildings that were rental apartments before making the switch. In newly constructed condos, it's common to find a sales office onsite at the condominium.

Monday, October 06, 2008 3:20:29 PM (Eastern Standard Time, UTC-05:00) | Comments [0] | about condos | condo comments | general#
Tuesday, September 09, 2008

for rent signI just found this posted on the Q&A section and thought it was an excellent lesson for renters who would prefer to act as their own rental agent.

Q. oh my goodness! what a mess! ok here it goes. My husband and I moved to Las Vegas from WI, and we were in contact with the landlord by email.Well she sent us pic and we looked at them it seemed good on "line" that is. Well in her emails she stated the house needed painting but she did not have the "money" as of yet " But she did say would paint "later" So my not so smart hubby, sent her $2600 and she faxed the lease .When we arrived 4 days later and she met us at the property @11pm! When we went in the house it was not at all what it was on line !!!!!!!!!!!!!!!!!!! I was so peeved! I TOLD HER I WANT THE $2600 BACK!She said she did not have it & I thought i was going to have a nervous breakdown! She had the nerve to say we were too picky at the moment I could have dropped kicked her!!! NO paint!, carpet coming up and dirty!holes in walls because of nails! dirty , and too top it off BIG ASS COCKROACHES!!!!!!!!!!!!!!!!!!!!! So my son & hubby took me aside to come me down!In the least we were to "maintain" the bug pest controll "Maintain" Not come into a house thats Infested! SO anyways to make a long story shorter... "LOL" we were mislead from the beggining , and she took off$700.00 and we painted only part of the interior... We did not look at the lease "date and she did not pro rate "She has march 1st -april 1st . and we got there march 27th .So we have had nothing but problems w/her and now our refrigerator does not work and we have told her time in and time out and she has never sprayed for bugs and she never has painted and she has done absolutely nothing!!! And since march we have been paying rent , its now aug and in july I got a hold of legal aid and explained to them our situation .That told us STOP PAYING RENT SEND HER A LETTER TELLING HER THIS NEEDS TO BE DONE!So we did and she came back with a nussinnce" letter of what we wanted done ! She said un authorized dogs which is a lie she knew about it!and refrigerator,and carpet. We went to court and the landlord started to talk about the rent &the judge said thats not what you have here! Nothing about the rent! The judge said if you want the money you need to sue! Then the judge said but it would be in your best interest not to ,because there are alot of things you did not do!!! Then the judge says to us why don't you just move.. And we said we are aug 21 2008. So thats what we are doing. But now we were served small claims court! I need to know what do i do now??

I won't attempt to answer this question in this blog, rather I submit the letter as a general lesson about what can happen when you choose to work without professionals. 

The questioner is well aware of the many mistakes the landlord made, but she is blind to the mistakes that she herself made. The landlord is convinced that the tenant is the problem.  The judge knows the truth: both parties are in a mess and both parties made serious mistakes.  The best thing would be for these two to part ways as quickly and unceremoniously as possible. Small claims court will sort out the left-overs to see what rent if any is due.

So what's the best/safest way to find a rental?

The goal is to find the rental that suits all of your needs, most of your wants and fits your budget. What's the most effective choice to realize that goal? You can: Do it yourself; or Enlist the services of a rental agent.

If do it yourself, then you are in effect your own rental agent. That means you must rely on your own personal knowledge of the area and your own contacts to find your perfect rental. Of course, you could change your own oil, put in your own stitches and you could cut your own hair, too. The only difference is that you have pay for these services and a rental agent's services are totally free to the renter! Worse still, if you don't have a professional doing the work you may have a botched hair-cut, engine problems or a tale like the lady with the rental question. 

What does a rental agent do?

A rental agent's job is to listen to your needs and then help you identify rentals that meet your needs. rental agents typically have in depth knowledge of the community and they are often aware of market rates. It's not uncommon for a "connected" rental agent to know of rental opportunities that are quietly listed and generally unknown to the public.

A rental agent's fees are paid by the landlord, so there is no expense to the renter. It really is in the renter's best interests to employ the services of a trustworthy rental agent.

Finding the right rental agent.

The problem is many rental agents really only work for one landlord and thus only support their employer's building(s). Any agent at an apartment complex will only show properties at that complex or at another complex owned by the same landlord.

Further, many realtors and real estate agents won't deal with renters. Here's why.

After all the fees are paid, a rental agent generally makes about one eighth of a single month's rent for a rental. For a typical one bedroom apartment in the DC area the rental agent is often paid a paltry $160. (No withholding and no benefits.) So it's tough to find a rental agent who cares about your needs. Additionally, many renters are oblivious to the benefits of professional assistance and don't really take best advantage of the rental agent's expertise.

No charge to you ... but not FREE!

When you find a quality agent who is willing to help with your search, it's a good idea to maximize your productivity before the agent loses interest in your problems. Most rental agents (like most people) are good people and they care about their client's needs. At the same time, there comes a point where the rental agent has to consider his/her own self-interests. Because the pay-off is so small for the agent, even the best rental agent loses interest very quickly if the renter has unrealistic expectations or if the renter isn't ready to make a decision. 

So, it's in the renter's best interest to take advantage of the rental agent's expertise, but it makes sense to budget your time with the rental agent. For example, rather than using the rental agent's gas or time to figure out what the renter wants, a smart renter approaches the rental agent with an idea of wants and needs, and then uses the rental agent's expertise to secure the best possible residence.

I personally have gotten to the point that I am very picky with accepting rental clients.  I make sure that I explain to them upfront what my service is and is not. If you're looking for a rental in Alexandria and parts of Arlington please give me a call.

Condo 1 Alexandria serves rentals in Alexandria

BTW, I have two great rental listings at the moment. Both are 1 BR's well under $1300 and the rents include all utilities. One is at River Towers and the other is at the Fountains.

Tuesday, September 09, 2008 3:32:02 PM (Eastern Standard Time, UTC-05:00) | Comments [0] | about condos | condo comments | renting a condo | property management#
Friday, July 18, 2008

Great PyramidsEverything built by man requires some maintenance at some point.

Even so-called maintenance-free homes require some attention. So when making the transition from renting to buying, one aspect of home ownership that must be considered carefully is maintenance.

Renters enjoy few advantages over buyers, but one benefit of renting is that in most cases renters needn't worry about the expense maintaining a property. Many first time buyers aren't ready to take on the hassles and expenses of yard work, gutter cleaning, painting and so on, and for this reason condos are a viable and interesting alternative.

In the case of a condo, maintenance can be separated into two categories: owner's responsibilities and association responsibilities.

These exact nature of these duties and responsibilities will vary from condo to condo, but there are a few rules of thumb. For example, certain retirement communities provide maid service as part of the condo, but most often the condo owner is responsible for cleaning his own unit.

Belle View Condos

In most cases, the condo owner must clean the condo interior, including all windows which are reachable from the interior. The condo owner must clean of his or her private balcony or patio. Most renters are accustomed to this type of arrangement already.

Unlike renters, condo owners own the appliances in the unit. Thus, the condo owner cleans and maintains all the appliances, but the condo owner also pays for repairs and replacements as needed. A condo owner has the power to pick his own appliances, but with that benefit comes the duty of maintaining that unit.

In most older condos, the association supplies the heating and cooling to the unit, and the condo owner owns the convector or radiator (heat transfer appliance) in the unit. In new condos, the owner typically owns the HVAC (heat pump / air conditioner) that heats and cools his unit.

Plumbing and electrical concerns remain for owners of single family homes and townhouses, but in all but a few rare cases the condo owner need only worry about systems that are outside the walls. For example, the condo owner typically owns the bathroom vanity and the pipes supporting that vanity, but not the pipes which supply water and take sewage away from the bathroom. A condo owner owns his kitchen cabinets, but not the electrical wires inside the wall that bring power to his kitchen appliances.

In general, the condominium owner is responsible for his personal space, but the condo association is responsible for all common areas.  This includes maintaining and operating the elevators and outside doors.  In most cases this includes the windows. Most always, the association maintains the lawns, flowers and shrubs. The condo association maintains the roof.Roof at Porto Vecchio

While the owner of a single family home must maintain his own driveway, a condo parking lot is maintained by the condominium association. The parking garage can be private, common, or common with assignments.  If the parking garage is common, with or without assignments, the condo association will clean and maintain the parking. A private garage is the domain of the condominium owner. 

Review your docs

Ultimately, you'll want review your condo documents, charter and by-law to determine exactly how your condo association interprets its domain.  Rest assured, a condo owner will have more to maintain than a renter, but significantly less responsibility than the owner of a single family residence or townhouse.

Friday, July 18, 2008 5:15:57 PM (Eastern Standard Time, UTC-05:00) | Comments [0] | about condos | condo comments#
Tuesday, June 17, 2008

As the primary mover and shaker in Condo 1 Alexandria, I field calls every single day from renters who are interested in condominiums.  The names and locations change but there are a few fundamental misconceptions that are so common, I feel the need to write this note for the general benefit of the world at large.

It looks like an apartment, but it's not an apartment.

First of all, a renter needs to understand the difference between an apartment and a condominium.  An apartment, or any multi-family dwelling, is owned by a single entity. Most usually the owner is a company, but more rarely an individual owns the property. Employees of the apartment complex, or the owner himself, manages the property.apartment for rent

A condominium is different because there are many owners, meaning each unit is individually titled.  The owners of a given condominium complex make up something called a condominium association.  The association jointly owns the common areas such as the lobby and the lawns. The association oversees the management of the property.

There is no rental office: you need an agent.

When you rent at an apartment complex, you'll see a big sign that says "RENTAL OFFICE". That office is staffed by folks whose job it is to explain to you why that particular building is the greatest place to live in the world. They are generally helpful and pleasant and they will gladly show you a model apartment and give you an idea of what is "coming available". 

A condominium complex is completely different.  The condo office is filled with employees of the condominium association.  The employees at the condo office are concerned with the maintenance and security of the building. They could care less where you rent or where you live.  In most condominiums in Northern Virginia, staff won't allow you to enter the property and they won't show you any rentals here or anywhere else.  The staff has no idea what is available or what is "coming available".

A condominium complex looks like an apartment building on outside, but it's more like a neighborhood full of townhouses or houses.  In a neighborhood everyone lives in the same place with similar housing but each person owns their own house. If you want to rent in that neighborhood, you CAN'T do so by banging on people's doors and asking them to see their house. Nobody in the neighborhood knows "what's coming available".  If you want to tour a house in a neighborhood, you need a real estate agent. 

It's the same in a condo.  If you don't have an agent you can't see a condo, or any private residence.  Homeowners don't want strange people walking through their house and they don't want to make allowances unless a real estate agent knows their is a possibility that you can afford the rent.

There are always other options.

If you don't want a rental agent, you do have a choice. You can rent from an apartment complex---less hassles on the front end, more hassles on the back end. Or, you can take your chances on Craigslist.  My advice: Craigslist is great for room shares, but doesn't work so well for grown-ups.

The most important thing every renter should know about condos.

Then, the last and most important thing any renter should know about condos: in today's market purchasing a condo will cost you a few dollars more each month than a renting a condo.  But buying a condo will cost you less on an annual basis. 

How is this possible?  Condo owners pay association fees and mortgage. Taken together, a first time buyer with a low down payment will have payment slightly higher than a rental. But each year we all file taxes. Renters take a standard deduction. But, property owners can deduct real estate taxes, mortgage interest, depreciation and certain other expenses from their taxes. This can amount to thousands of real dollars in your pocket each year.

Don't forget, next year, the renter will get a rent increase.  Next year, the mortgage will be the same. 

It's your choice, but this is the best time to buy in the last 5 years. 

This article reprinted by permission of CondoBenefits.com. Condo Experts contact me to get your free listing at CondoBenefits.com

Tuesday, June 17, 2008 4:49:51 PM (Eastern Standard Time, UTC-05:00) | Comments [0] | condo comments | renting a condo#
Wednesday, June 11, 2008

There are many types of condominiums, some condos look like houses or townhouses, most look like high-rises or garden-style apartments. Even though a condo can look look like a townhouse or house, owning a condo differs from owing a fee simple property in many ways. There are aspects of condo living that some may view as advantages or disadvantages, and you should be aware of these before you buy.

Here are a few basic benefits and considerations of condo living to help you make your decision.

The City

Busy folk who love being close to the action often choose a condominium because condo developments most often occur in the city. In the Carlyle District, in Arlington and places like Skyline Square, land is at a premium. But in all these examples, your condo is well served by public transportation. These condos are also close to the culture and opportunities of the city.

Of course the downside to being in town is that you're in the city---that means traffic, hustle and bustle and other disadvantages of living downtown. For example, the USPTO is crawling with people during rush hour. Crystal City is a pass-thru for many many commuters. Most homes and townhomes have a lawn or yard of some kind, but few condo owners have a yard or personal green space.

Community Living

A condominium owner is part of a community. The community lifestyle has many advantages. For example, the owner of a condo can leave things on a whim. There is no yard to worry about and the building is secure. Neighbors and condo staff will watch the property while you're on travel or vacation. Most condos in Alexandria, Arlington, Crystal City and Falls Church have security features such as buzzers, a concierge or a guard service. If you travel often for business or pleasure (or if this is a second home), there are no worries while you're out of pocket. Many condos have clubs, activities and the opportunity to socialize with neighbors.

But, shared walls and common areas mean that you are more likely to hear your neighbors. If you need your home to be a hideaway where you can escape from people, you have to deal with the fact that you might encounter neighbors in the hallway. Nosy neighbors are found everywhere, but it's a lot easier for them to keep tabs on you as you come and go in a condo. The community will set standards and make decisions about common areas. For example, many condo association have rules about pets so that the common areas are not over-run with pets and pet debris.

The Association

You can take part in the decision making (by voting or by being a board member), but you must abide by the rules of the community. As you may know, condos are governed by a set of rules called Covenants, Conditions and Restrictions (CC&Rs). This can include restrictions on noise levels, pet ownership, renovations, and even what kind of curtains you can put in your windows.

Every unit owner is a member of the condo association, which also has an elected board. The association serves to enforce bylaws, handles maintenance and repair issues, etc.Because the condo association is made up of homeowners rather than property-management professionals, the association may be weak and inefficient. Most associations oversee a paid management firm.

Also, if you want to make renovations to your unit or rent your unit out, you may have to get approval from the condo association.This purpose of this oversight is most usually designed to make sure that you don't remove any load bearing walls or short circuit community electricity.

Maintenance

Homeowners have a lot to worry about, but condo owners on the other hand ...

Condo owners generally don't mow lawns. They don't clean gutters. They don't even have to hire or pay landscapers. In a condominium someone else takes care of the exterior, the common areas, the snow removal and moreSomeone else makes sure there's money enough to pay for the new roof.

Of course, that service comes at a price: the monthly condo fees. The association collects these fees to pay for maintenance and repair of the common areas. All homeowners pay for maintenance, but the owner of a single family residence can save money by mowing his own lawn. The owner of a single family home can defer payment a little longer if money is tight. Of course, by aggregating the fees of maintenance, condominium owners often have enough money to pay for amenities that are not common in a single family residence. For example, a swimming pool is pretty standard in a condo.

Affordability

Some condos in Northern Virginia list are every bit as expensive as single family houses elsewhere. Condos in Crystal City, condos in Arlington and condos in Alexandria (especially in the Carlyle District) can be quite pricey. But some condos are surprisingly affordable. This makes a great option for first-time buyers and singles who may find single-family houses unaffordable. Condominiums are more sensitive to trends in the real estate market than single-family homes. Now that the prices have dropped there are some tremendous bargains for shoppers.

Amenities

Most condominium developments offer a range of amenities in the common areas. It's pretty standard in Northern Virginia to have access to a swimming pool, gym or tennis courts in most condo complexes.

Wednesday, June 11, 2008 5:41:41 PM (Eastern Standard Time, UTC-05:00) | Comments [0] | about condos | condo comments#
Wednesday, April 02, 2008

1600 Prince Street Condominium

1600 Prince St.
Alexandria, Va, 22314

Alexandria House

400 Madison St.
Alexandria, VA, 22314
703-548-5002

Alexandria Knolls West Condominiums

6101 Edsall Rd., #1503
Alexandria, VA, 22301

Arch Hall Condominiums

CMS Services Inc.
6395 Little River Tpk.
Alexandria, VA, 22312
703-642-3246

Auburn Village Condominiums

101 E. Glebe Rd.
Alexandria, VA, 22305
703-548-7856

Beauregard Heights Condominiums

4600 Duke St., No. 331
c/o C.S.I. Management
Alexandria, VA, 22304
703-370-1600

Beauregard Manor

6002 Morgan Ct.
Alexandria, VA,

Bolling Brook Condominium

3240 S. 28th St.
Alexandria, VA, 22302
703-931-3660 Fax: 703-931-1629

Bolling Brook Towers Condominium

4520 King St.
Alexandria, VA, 22302
703-379-0808 

Braddock Place Condominiums

1200 Braddock Pl.
Alexandria, VA, 22314
703-548-5184 

Brighton Courts

3899 Brighton Ct.
Alexandria, VA, 22305

Brocketts Crossing Condos

330 N. Saint Asaph St.
Alexandria, VA, 22314
703-642-3246

Cameron Mews

110 Cameron Mews
Alexandria, VA, 22314

Canal Way

1186 N. Pitt St.
Alexandria, VA, 22314
703-684-0927

Canterbury Square Condos

5201 Duke St.
Alexandria, VA, 22304
703-751-2300

Carlyle Towers Condo

2151 Jamieson Ave.
Alexandria, VA, 22314
703-567-2151

Cascade at Landmark Condo

300 Yoakum Pkwy.
Alexandria, VA, 22304
703-461-3636

Colecroft

 

Colonial Heights

9 Carriage House Cir.
Alexandria, VA, 22304

Domain Condominiums

5038 Domain Pl.
Alexandria, VA, 22311

Edsall Terrace Condominiums

Fayette Court Condominiums

734 S. Fayette St. No. 11
Alexandria, VA, 22314

4600 Duke Condominiums

4600 Duke St.
Alexandria, VA, 22304
703-823-2311

Fort Ellsworth Condominiums

124 Roberts Lane
No. 401
Alexandria, Va, 22314

Fountains Condominiums

301 N. Beauregard St.
Alexandria, VA, 22312
703-354-1304

Greenhouse Condominiums

5300 Holmes Run Pkwy.
Alexandria, VA, 22304
703-370-0340 Fax: 703-370-4652

Hallmark Condominiums

200 N. Pickett St.
Alexandria, VA, 22304
703-751-0777

High Pointe Condominiums

5911 Edsall Rd.
Alexandria, VA, 22304
703-751-5225

Kingsgate Condominiums

Mayflower Square

Old Town Greens Condominiums

Olympus Condominiums

6301 Stevenson Ave.

Alexandria, VA, 22304
703-370-2122

www.theolympus.org

Parc East Condominiums

1225 Martha Custis Dr.
Alexandria, Va, 22302
703-671-9000

Park Place Condominiums

2500 N. Van Dorn St.
Alexandria, Va, 22302
703-578-4400

Parkfairfax Condominiums

3360 Gunston Rd.
Alexandria, VA, 22302
703-998-6315 Fax: 703-998-8764

www.parkfairfax.info

Pavilion on the Park Condominiums

5340 Holmes Run Pkwy., #104
Alexandria, VA, 22304

Place One Condominiums

5500 Holmes Run Pkwy.
Alexandria, VA, 22304
703-370-1776

www.placeonecondo.org

Port Royal Condominiums

801 N. Pitt St.
Alexandria, VA, 22314
703-836-1705

Porto Vecchio Condominiums

1250 S. Washington St.
Alexandria, VA, 22314
703-684-3800

Potowmack Crossing Condominiums

1600 W. Abingdon Dr.
Alexandria, VA, 22314
703-548-1414 Fax: 703-684-6834

www.potowmackcrossing.com

Saxony Square Condominiums

503 N. Armistead St.,
Alexandria, VA, 22312
703-354-2211

Seminary Walk Condominiums

Sentinel of Landmark

6300 Stevenson Ave.
Alexandria, VA, 22304
703-823-1951

www.sentinelcondos.org

Templeton

250 S. Reynolds St.
Alexandria, VA, 22304
703-370-3714

The Lofts Condominiums

301 S. Reynolds St.
Alexandria, Va, 22304

The Plaza Condominiums

801 N. Howard St.
Alexandria, VA, 22304
703-823-4881

Torpedo Factory Condominiums

Wapleton Condominiums

5250 Valley Forge Dr.
Alexandria, VA, 22304
703-750-3110 Fax: 703-914-9563

Watergate at Landmark Condominiums

211 Yoakum Pkwy.
Alexandria, VA, 22304
703-370-2755

Watergate of Alexandria Condominiums


Wednesday, April 02, 2008 9:37:55 PM (Eastern Standard Time, UTC-05:00) | Comments [0] | condo comments#
Tuesday, January 08, 2008

You might be surprised to learn the variety of sizes found in condominiums. Condos range from studios and one bedroom apartment on up. You may even find three or four bedroom condos. Of course, the penthouse suite is often quite nice on the top floor. Even condominiums with the same number of bedrooms can have different floor plans and different numbers of bathrooms and half-baths. For example, there are 2 bedroom 1 bath configurations; and 2 BR 2 BA configurations.

Tuesday, January 08, 2008 3:16:55 PM (Eastern Standard Time, UTC-05:00) | Comments [0] | about condos | condo comments#
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