My desire is to be the best real estate pro I can by serving the public with the highest integrity and with a fulsome work ethic. 6301 Edsall Rd #210 is a wonderful condo, but it's not for every buyer.
Let's pause to determine your preferences so that you can realistically think about whether
purchasing a $405,800 2-bedroom 2-baths condominium in Fairfax County is for you. You have a lot of options in Fairfax County even if you're only interested in 22312. There are a lot of things to consider. For example:
Do you like stone condominiums? Do you prefer brick or siding? What type of siding?
Does the hot-water heater matter to you? Do you prefer gas or electric? The most common hot-water heater at Isabella At Monticello Mews is tankless.
Do you need a handicap accessible condo? Do you like steps?
How much can you afford? Does your budget have any room to move up or down?
Do you prefer hardwood floors? Do you prefer carpet or ceramic? Maybe floors aren't a big concern for you.
Contact us today to discuss your needs and wants list. I'm in no hurry to get the job done. At the same time, I don't want you to wait a minute longer than needed to reach your real estate goals.
If you're seriously considering a condo there are some important questions to ask. Contact me for answers.
1. What percentage of units is owner-occupied? What percentage is tenant-occupied? Generally, the higher the percentage of owner-occupied units, the more marketable the units will be at resale.
2. What covenants, bylaws, and restrictions govern the property? What grandfather clauses are in place? You may find, for instance, that those who buy a property after a certain date can't rent out their units, but buyers who bought earlier can. Ask for a copy of the bylaws to determine if you can live within them. And have an attorney review property docs, including the master deed, for you.
3. How much does the association keep in reserve? Plus, find out how that money is being invested.
4. Are association assessments keeping pace with the annual rate of inflation? Smart boards raise assessments a certain percentage each year to build reserves to fund future repairs.To determine if the assessment is reasonable, compare the rate to others in the area.
5. What does and doesn't the assessment cover? Does the assessment include common-area maintenance, recreational facilities, trash collection, and snow removal?
6. What special assessments have been mandated in the past five years? How much was each owner responsible for? Some special assessments are unavoidable. But repeated, expensive assessments could be a red flag about the condition of the building or the board's fiscal policy.
7. How much turnover occurs in the building? This will tell you if residents are generally happy with the building. According to research by the NATIONAL ASSOCIATION OF REALTORS(r), owners of condos in two-to-four unit buildings stay for a median of five years, and owners of condos in a building with five or more units stay for a median of four years.
8. Is the condo building in litigation? This is never a good sign. If the builders or home owners are involved in a lawsuit, reserves can be depleted quickly. Sometimes the litigation is minor. Sometimes the litigation is a show-stopper.
9. Is the developer reputable? Find out what other projects the developer has built and visit one if you can. Ask residents about their perceptions. Request an engineer's report for developments that have been reconverted from other uses to determine what shape the building is in. If the roof, windows, and bricks aren't in good repair, they become your problem once you buy.
10. Are multiple associations involved in the property? In very large developments, umbrella associations, as well as the smaller association into which you're buying, may require separate assessments. For example, Stratford Place is a part of Kingstowne.