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.

Sponsored by Condo 1 Alexandria / Will Nesbitt Realty LLC

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

The Vista on Courthouse Condos

Located at 12th North Court and Courthouse Road in Arlington Virginia, the Vista on Courthouse are townhouse condos stacked in a duplex-style that feature 213 condo units in a building that was originally known as Abingdon Heights. The condo units feature 2, 3 and 4 bedroom floor plans, as well as a host of specialized amenities such as spacious outdoor private terraces, hardwood floors, 9 foot ceilings, stainless steel appliances, and ultra-luxurious soaking tubs in the bathrooms. In addition, the units feature granite vanity countertops in the bathrooms, two-toned interior paint, recessed, energy-efficient lighting and pendant bar lighting, as well as granite kitchen countertops and other high-end advancements. The Vista on Courthouse condos also host a private fitness center, a theater ad game room, a ground-level pool with sun deck, a grand courtyard plaza entrance, as well as beautifully landscaped grounds and park-like recreational green spaces rowed by community sidewalks. Some of the townhouses are as large as 3,200 square feet and offer private terraces. The duplex-style homes are just over 1,700 square feet in size.

The Vista on Courthouse is perfectly suited for the busy professional because of the buildings convenient location, just two blocks from the Arlington Courthouse Metro, and because there is a wide-array of businesses, restaurants, and shopping centers easily accessible within a one mile radius of these fantastic homes. This pet-friendly and community centered residence brings the best of Arlington to your front door and serves as the ideal for contemporary condo living in Arlington's urban Courthouse neighborhood.

Sponsored by Condo 1 Alexandria / Will Nesbitt Realty LLC

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

The Spectrum at Falls Church

The Spectrum at Falls Church is a "green condo" development in Falls Church, Virginia. An affordable and eco-friendly condo building that features a "green roof" which saves residents money on utilities such as electricity, the Spectrum is one of several condo communities in Northern Virginia that has gotten on board with the environmentally-friendly bandwagon. The Spectrum at Falls Church is located at 444 West Broad Street just off of Route 7 in Falls Church, Virginia, and is approximately a ten-minute drive to the East Falls Church Metro on the Orange Line. The Spectrum at Falls Church houses 189 condo units throughout the development and offers 15 different floor-plans for the one and two bedroom condos. The Spectrum also features two-story lofts that vary in size from 800 to 1,600 square feet. The Spectrum Condominium building had numerous environmentally-friendly features and is therefore known as what is currently understood as a "green condo". Every unit features bamboo or cork flooring, both of which are sustainable materials, and the hot water, central air, and natural gas utility components within the units offer energy saving and energy efficient elements.

The roof of the Spectrum is a "green roof" that was designed to improve air quality and filter storm water. The plants that grow on the roof are intended to provide thermal insulation, which in turn help to reduce energy consumption throughout the building and thus increase insulation for the community residents. Because the roof helps residents conserve energy, it is also notable that the roof, therefore, saves residents money.

The Spectrum community features include a large clubroom with a pool table, lounge, and fireplace, as well as a business center, conference room, catering kitchen, and a movie screening or theater room. Other amenities include a fitness center, a garden area, and a rooftop observation deck overlooking the "green roof".

In today's current market, saving money and the environment are two important but often wholly separate matters. The benefit of the Spectrum Condominiums at Falls Church is that the building provides residents the opportunity for both, setting the standard for a harmonious relationship between urban society and the natural world.  Check the Spectrum for a map of the location and a list of what's for sale at the Spectrum.

Sponsored by Condo 1 Alexandria / Will Nesbitt Realty LLC

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

The Byron in Falls Church

The Byron is an elegant, newly built condominium community located at 450 West Broad Street in Falls Church, Virginia. Developed by JPI and Nova Habitat, the Byron is a mid-rise building that includes 1, 2, and 3 bedroom units. The spacious and open floor plans feature hardwood floors, individual balconies, granite countertops, stainless steel appliances, large gourmet kitchens that include a breakfast bar, walk-in closets and fireplaces. Other amenities include a fitness center, clubroom, a shuttle to the Metro, and a secured 2 car underground garage. The Byron is also an easy commute to Washington D.C. and the greater Metropolitan area via quick access to I-66 and I-495. The Byron houses 90 condo units that vary in size but all of which are considerably larger than other condos units in the surrounding areas.

The 1 bedroom units that include a den are approximately 1,032 square feet; the 2 bedroom units begin at 1,661 square feet with the largest unit spanning 1,825 square feet in total; and finally, the 3 bedroom/3 bathroom units are a whopping 1,998 square feet. Because the Byron does not have a swimming pool, the condo fees for the building are considerably less than those that do. The Byron is therefore both an affordable and attractive condo community particularly when one considers the size of the units, the location of the condos, and the modern host of amenities included in each. The Byron is a new building and has already received top reviews from all around the greater Northern Virginia area, making it a smart buy for 2010.  

Sponsored by Condo 1 Alexandria / Will Nesbitt Realty LLC

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

The Odyssey Condominiums of Arlington

Yet another one of Arlington's premier and ultra-luxurious condo properties featuring generous amenities and the epitome in location, the Odyssey Condominium is located at 2001 North 15th Street in Arlington, Virginia. Developed by Monument Realty and Lehman Brothers, the Odyssey Condominium features units ranging from studios to three-bedroom floor plans. The condominium is set in the heart of Arlington, within two blocks of the Courthouse Metro Station, as well as an outstanding proximity to numerous shops, restaurants, and theaters. The architecture is stark but striking, with a high-end and polished look, and includes on-site amenities and services both. The prime location to both entertainment and the Courthouse Metro community combine to make the Odyssey one of the most attractive condo developments in Northern Virginia.

The Odyssey is a 274-unit property which also features a limited series of Platinum Penthouse Suites that offer expansive floor plans, premium finishes and appliances, and exceptional views of the Potomac River. Building amenities include a rooftop swimming pool, fitness center, resident club room, landscaped plaza, underground parking, and 6,586 square feet of street-level retail.

Sponsored by Condo 1 Alexandria / Will Nesbitt Realty LLC

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

The Young Professionals Survival Guide to Condo Ownership and Growing-Up

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.

Sponsored by Condo 1 Alexandria / Will Nesbitt Realty LLC

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

Single Women, Condo Living and Everything In-Between

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!

Sponsored by Condo 1 Alexandria / Will Nesbitt Realty LLC

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