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Archive for November, 2008

And the most popular price for a Montgomery County home is…

November 26th, 2008 Categories: Market Updates

For people relocating to Montgomery County, buyers can get mixed messages about our true home values. Most entry level housing is priced from $300,000 to $500,000. Looking at total sales volume, the volume of homes sold up to $500,000 is about the same has homes selling from $500,000 to $1,000,000. Of course, we also have multi-million dollar sales Read the rest of this entry »

Posted by Bruce Lemieux | Currently No Comments »

Chasing turkeys in Bethesda – a great Thanksgiving tradition

November 26th, 2008 Categories: Bethesda, Things to Do

In Bethesda’s earliest days in the 1800s, the swiftest Bethesdians would leave their homes before dawn on Thanksgiving day, enter the ancient and remote forests of Rockville and search for the largest and fiercest turkeys of the woodlands. Once found, the runners would surround and chase the birds through down-town Bethesda. Much like the running of the bulls in Pamplona, the entire town would come out to run with the noble birds on a 6 mile loop through town. After the turkeys escaped back into the forest, residents would hitch-up their German-engineered wagons and drive to Read the rest of this entry »

Posted by Bruce Lemieux | Currently No Comments »

Top 5 things NOT to do when making a low offer

November 24th, 2008 Categories: Buying

Every purchase offer is a good offer — definitely better than the offer that was never made. “Low ball” offers have their special challenges. As a buyer, you increase your odds of success by following some basic guidelines.

Don’t talk-down the house. “We would offer more, but the wallpaper is horrible, the kitchen is a disaster and the lot is not very nice”. How do you think the seller will react to this message? The potential buyer just trashed the seller’s home, so the seller doesn’t like the buyer already. “If they hate house so much, Read the rest of this entry »

Posted by Bruce Lemieux | Currently 1 Comment »

All-brick rambler on luscious acreage

November 21st, 2008 Categories: Darnestown

This custom, all brick home has soaring interior spaces and is surrounded by lush specimen and mature hardwood trees. With Rhodesian teak hardwood flooring, Andersen windows and a stone fireplace, this home offers the best in one-level living. See tons of big pics, then visit this home’s private web site at www.13948Esworthy.com for all the details.

Posted by Bruce Lemieux | Currently No Comments »

Three-times the sales compared to last year? Isn’t this a slow market?

November 20th, 2008 Categories: Foreclosures, Germantown, Market Updates, Silver Spring

Entry-level housing in Montgomery County is heating-up. Looking at the last four weeks, the number of contracts in many parts of Montgomery County is more than tripled compared to this time last year for homes priced under $300,000. As inventory has climbed, foreclosures and distress sales have applied downward pressure on prices in this segment.

So is this a harbinger that we’re reaching the illusive “bottom” of the Read the rest of this entry »

Posted by Bruce Lemieux | Currently No Comments »

Montgomery County weekly market update

November 18th, 2008 Categories: Market Updates

Here’s the first weekly snapshot the current real estate market for Montgomery County, Maryland. There are some trends that stand out:

For the four weeks from October 20th through November 16th, 668 homes went under contract. This is a healthy 15% higher than the 579 sales during the same period in 2007.

Read the rest of this entry »

Posted by Bruce Lemieux | Currently No Comments »

The spigot may be closing for Bethesda new construction

November 3rd, 2008 Categories: Bethesda

I’ve recently been working with a couple clients interested in new construction “infill” homes in Bethesda. We’ve seen quite a few homes, but notice fewer homes are coming to the market. This is an interesting segment of our market in which older homes have been demolished and replaced with new construction. The average quality of these homes is very good with extensive use of hardwood flooring, fantastic kitchens, custom mouldings and premium bathroom amenities. Add a great ‘close-in’ location, and you have product that area home buyers love. A few trends are working to reduce the introduction of new homes Read the rest of this entry »

Posted by Bruce Lemieux | Currently No Comments »

Montgomery County foreclosure hotspots

November 3rd, 2008 Categories: Clarksburg, Foreclosures, Gaithersburg, Germantown, Silver Spring

With foreclosures and declining home prices, news on the real estate market isn’t good. True, our local real estate market is under pressure; but Montgomery County is much healthier than markets in California, Las Vegas and Florida that we always hear about. Foreclosures in our area are mostly concentrated in two areas: entry-level housing, and areas that experienced a lot of new construction in the early 2000s.