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Archive for the 'Wednesday’s Blog – Buying a Home' Category

Coming Soon in Alexandria, VA, in Stonegate – Stunning Townhome

Coming Soon in Alexandria, VA, in Stonegate – Stunning Townhome

Hi! Next week, we will be placing our client’s stunning and completely renovated home on the market for sale.
It’s simply stunning. From the soothing paint palette to the new open kitchen to the spa master bath, you will be wrapped in luxury each day as the new owner of this home. Pricing it now. A few quick non-professional pics to whet your appetite!

Stately colonial townhome

Stately colonial townhome

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Convenient to commute to Arlington, other areas of NOVA and to MD. Right by 395.

Please contact us to see it at a convenient time for you!

Cheers,
Ken

The Top 2 Costs of Homeownership in Arlington, VA, and Elsewhere – Part Two of Two

The Top 2 Costs of Homeownership in Arlington, VA, and Elsewhere – Part Two of Two

HI! Ready for the second part of last week Wednesday’s post of the top 2 cost categories of homeownership?

The second cost category is ongoing expenses. Here are my top 5.
1. Exterior maintenance – If you have other than a condo that has no exterior maintenance done by the owner, you will have maintenance costs on the outside of your home. Big ticket items are roof, driveway, windows, painting and septic and well maintenance, if your home does not have public sewer and water.

"Exterior maintenance is crucial to your home's health." Ken Courtade

“Exterior maintenance is crucial to your home’s health.” Ken Courtade

2. Interior maintenance – You will need to maintain in great working order all appliances, flooring, walls, and electrical and plumbing systems, to name a few items. The latter two are the most costly. Keeping up on their ongoing care, by-the-way, is less costly than an eventual repair or replacement! So, my advice is to put the care in your calendar – one item is to simply replace the HVAC filter regularly.

3. Utilities – If you are buying a house, ask your agent to acquire from the seller their ongoing utility costs. This will give you a good idea of what yours might be, for budgeting purposes.

4. Homeowner (HOA) association or condo association fees – These may be due monthly, quarterly or yearly. Condo fees are typically monthly and HOA fee schedules vary by association. When preparing to buy, ask what the fees cover – some cover little; others cover even water, etc.

5. And the BIG one: Principal, interest, taxes and insurance – known, affectionately, as PITI – If you have a fixed rate mortgage, your payment will remain the same each month, while taxes and insurance may increase. When your property value is assessed by the jurisdiction you live in, as it is in Arlington County, if your tax assessment increases and your lender is escrowing taxes to pay them for you and the full yearly amount is spread over each month, your monthly outlay increases.

I hope this was helpful. Especially if you are a first time home buyer, please look to an expert who will help you to forsee and plan for your costs. A little bit of planning can even help you to reduce some of the costs. Please call on me with questions, or post them here.

Have a great day!

Cheers,
Ken

The 2 Top Costs of Home Ownership in Arlington, VA, and Elsewhere – Part One of Two

The 2 Top Costs of Home Ownership in Arlington, VA, and Elsewhere – Part One of Two

HI! I hope this finds you well, and staying warm and dry in the weather we have been getting.

I am the excited recipient of great questions from my buyers and I help educate them in the costs of homeownership. This is especially important for first time home buyers, whose specific needs are a specialty of mine to care for. When one has not experienced owning a home, there is just more of a learning curve to knowing a home’s care.

Here are two top categories of costs associated with owning a home: one-time or updating expenses and ongoing expenses. In this post, we will talk about the one-time or updating expenses, and in my post next week, we will talk about the ongoing expense category.

One-time or updating expenses
1. Remodeling / updating. This may be as simple as painting or as in-depth as a front elevation / facade (exterior) of the house re-do. Homeowners can sometime underestimate costs themselves, so it is best to get an estimate from several contractors. Enlist the experts! I recommend that when my clients are thinking of buying a house that needs updating, they talk with a minimum of three contractors and get pricing prior to their purchasing the home. Get something from a professional that is a more solid number than your or someone else’s guesstimate.

Kitchen Appliances can add up in cost

Kitchen Appliances can add up in cost

2. Appliances. They add up in cost quickly. Pay particular attention to two appliances that the general public is usually not aware are considered appliances – the H2O heater and the HVAC. These are the two most costly in the home.

3. Furniture. When you are trading up into more space or perhaps a “nicer” home, you may need more furniture. Depending on the level / quality of the furniture, this can add a lot of cost to your move.

I hope that you found this helpful. I look forward to my post next week to cover the second category – ongoing expenses!

Cheers,
Ken

Arlington’s Luxury Home Market Update

Arlington’s Luxury Home Market Update

Hi! I hope this finds you well and staying warm. I just returned from an incredible seminar focused on luxury homes’ best practices for marketing and sales. Based on the up-to-date information and tools available to serve the luxury homes market segment, our team is implementing more steps to serve you at an even higher level. Our concierge level of service will be expanded to include some very exciting items. Stay tuned to hear more about that in the coming months!

Arlington’s luxury home market continues to move. Here is a recap of the luxury homes market as it pertains to Arlington, VA. For specification, we will call the luxury homes in Arlington ones that list and/or list and sell (because not all homes that list sell) at or above $900,000.

Currently, we have for sale an inventory of 126 homes up to $3.875, with an average price of $1.579M. The average days on market is a very respectable 135DOM. For comparison, in all price categories, we have 434 homes for sale with an average 82DOM. Of the 115 total luxury homes for sale, 98 are detached. The remainder are in the categories of townhomes, townhome condos and condos.

Our last six month’s luxury home sales has 74 sold at an average price of $1.386M. A fun fact: The highest listed price was $2.995M and sold for $2.860M (located in the Country Club Hills neighborhood). The average days on market for luxury homes was only 27DOM. That is a very good number considering that the average days on market of the total homes sold in Arlington during this period – 699 homes – was 32DOM.

Ask us questions here or contact us for more information. We are always delighted to help in any way. Just a note that what you see online, on whatever website you use to research homes, is only a portion of what you can consider purchasing soon. I always know of homes that are not yet listed. I can share information with you based on what you are looking for.

Have a great day!

Cheers,
Ken

Open House this Sunday, January 18th, 1-4pm. Stunning condo. Walk to Shirlington!!

Open House this Sunday, January 18th, 1-4pm. Stunning condo. Walk to Shirlington!

Hi!

Come join us at our client’s new listing.

4500 S. Four Mile Run Drive, #1132

This stunning home is almost 1,200 square feet and enjoys an open living space on a upper floor getting lots of natural sunlight!

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With two bedrooms, two baths and even a den, covered parking, storage, in-unit laundry, and a pool and other incredible amenities in the building, this condo is a great value. Asking price is $324,000.

For a preview, please click on the home as it scrolls by to the left of this post. We hope to see you this Sunday!

Cheers,

Ken

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