Real Estate and Rental Information About Eclipse Condos and Nearby Properties

What Should You Expect If You're Putting Up $239,000 In 22305?

Photo of 17 Auburn Ct #B Alan Clerinx is a local real estate professional and works hard everyday in and around homes in 22305 in Alexandria. I like 17 Auburn Ct #B. This condominium at Auburn Village in Alexandria, Virginia looks like a good value for several reasons. However, Alan Clerinx is not recommending you buy this property in particular. That's because, until I know your goals there is no way for me to know if this is the right home for you.
Nesbitt Realty
Nesbitt Realty
I'd like to chat about your desires so that you can realistically figure out whether buying a $239,000 condo in Alexandria, Virginia is for you. There are an almost unlimited number of variables in play.
Nesbitt Realty
Nesbitt Realty
There are a lot of things to consider. For example:
  • How important is it that you stay in 22305? Have you considered neighboring areas?
  • Maybe you should rent? Do you like to live in a neighborhood with a lot rentals? Do you prefer to live in a neighborhood with few rentals? Currently for rent at Auburn Village
  • Is the transportation network important to you? We'd be happy to tell you more about the Metro and transportation options not far from Auburn Village.
  • Do you have specific paint colors? Or, do you want to paint and pick your own colors?
Nesbitt Realty
Nesbitt Realty
I'm as excited about your next home as you are. 

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Nesbitt Realty
Nesbitt Realty
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.
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