Archive for the 'Reston Real Estate' Category

Eve Thompson

New Year’s Resolution: All Reston Real Estate all the time.  I’ve always loved the New Year. I love clearing out the old and making way for the new. This year feels especially important because it’s the end of a decade. I’m making some changes. Most of them will be transparent to you but for me they represent all that is near and dear to my heart.

On the business front I’ve decided that I’m no longer taking listings outside of Reston, VA. For years I’ve tried to be a lot of things to a lot of people and I’ve finally decided…ENOUGH! Reston is what I know, it’s what I love and it’s where I add the most value to my clients. (If you were just getting ready to call me to have me list your Arlington bungalow give me a call and I will put you in touch with the absolute best agent in Arlington!)

For my buyers of course it’s knowing the neighborhoods; from the quiet stately homes of south Reston to the urban feel of Reston Town Center or the sleek contemporaries of North Reston knowing where to find what the buyer is looking for is all about really knowing the neighborhoods.

For my sellers…well I’d like to think that really loving Reston makes me better at selling Reston.

So for the New Year I have a new look and a new website address. www.AllRestonRealEstate.com You’ll be getting the same great service, including this blog which will continue to have all kinds of interesting neighborhood news and information throughout the year.

If you live in a condo where the fees haven’t gone up for years, or if you are looking to buy a condo where they are advertising a low condo fee as a “feature” take a closer look. It’s likely that the costs of goods and services have not gone down. Try to determine if something isn’t happening that should be happening?

When evaluating the financial position of a condominium there are some cost-of-ownership items that don’t apply in single-family home ownership. One glaring item is the cost of delinquencies. In today’s world of upside down mortgages and foreclosures many condominiums are struggling with a loss of operating revenue (monthly condo fees), due to delinquent condo fee accounts.

Well-managed condos will actually provide an allowance for some percentage of delinquent accounts to insure that they have adequate operating cushion. When looking at a condominium’s resale package be sure to look at the dollar amount of delinquent accounts and ask what that number represents as a percentage of the whole.

So what’s the upside of condo ownership? In a well-run, well-managed condominium where the Board of Directors takes its responsibility seriously, property values are protected through active maintenance and enhancement of the property. You not only get to enjoy a well maintained property while you live there and you can feel confident about the condition of your property when you go to sell.