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Archive for July, 2009
Bethesda Beauty
July 29th, 2009 Categories: Bethesda
Home buyers love Bethesda. Homes here are minutes to D.C., the Beltway, employment centers and a restaurant mecca. The challenge is finding an affordable home on a spacious lot. This home has it all. Priced well under $700,000, a buyer can make updates needed to really make it sparkle.
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Notes from Tuesday Home Tour
July 28th, 2009 Categories: Darnestown, Foreclosures, Potomac
Tuesdays are traditionally a day for real estate agents in the area to preview homes and hold Broker’s Opens. I took a look at a few homes with acreage in Potomac and Darnestown. Here’s my impression of the most interesting ones I saw today.
Bank Owned in Potomac
I get a lot of questions about foreclosures in Potomac. Normally, there isn’t much to report. Today’s the exception. 19 Pettit Court came on the market on July 26th, is priced at $964,900 and is listed by Long and Foster. This home has 3,900 sq feet of living space on the main two levels, sits on 2 acres and has a nice pool in back. All the kitchen appliances and some light fixtures have been removed, but it’s in good showing condition. The master suite and another bedroom is on the main level, and the upper level has 3 bedrooms. A buyer would likely update bathrooms, replace some carpet and paint. The cedar shake roof looks like it might be original (the home was built in 1978), but it’s hard to tell with cedar shake. No funky smells and no obvious abuse. Overall, I liked it. It’s definitely priced to sell. The previous owners paid $1,404,000 in 2005.
A Trip Back to the 1970s
13500 Deakins Lane in Darnestown sits on a jaw-droppingly beautiful lot of 13.5 acres. One could mistake the manicured back yard for a country club. This home really gives off a strong vibe. I’ve never met the owners, but I would bet this home has seen a lot of good times. There’s definitely a lot of love here — sounds corny, but that’s how it feels. The interior decor is a time capsule of the 1970s — the shag carpet, the bold wall paper, the wood paneling — its all here. I’m guessing that the buyer will fall in love with the lot and won’t mind bringing the home up to date. It’s currently priced at $1,395,000. Andrea Alderdice with W.C. & A.N. Miller/Long & Foster is the listing agent.
One Level Living with Nice Acreage
13520 Deakins Lane in Darnestown is listed for $1,199,000. It sits on over 8 acres and has quite a regal approach. The rooms are big and the hardwood floors are very nice. The kitchen has been upgraded and every view outside is fantastic. Built in 1964, it has some quirks. The super low ceilings in the basement reduce the utility of the lower level. I think the buyer on this home will place a high value on the main level layout and the privacy of the lot. Andrea Alderdice with W.C. & A.N. Miller/Long & Foster also the listing agent on this property.
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Classic All-Brick Colonial on Leafy Lot
July 23rd, 2009 Categories: Darnestown
This classic, all-brick colonial oozes elegance. With three finished levels, this regal home features hardwood floors throughout the main levels, three wood-burning fireplaces, a side-load three car garage, bright walk-out lower level and a sumptuous inground pool surrounded by serene woodlands. Check out all the pics for this great home.
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Montgomery County Inventory Melting Away
July 18th, 2009 Categories: Market Updates
As a kid, the Wicked Witch of the West and her troop of flying monkeys terrified me. I thought of Ms. West when looking at this month’s stats. For a home seller, excessive inventory of available homes is pure evil that results in lower sale prices and longer days on the market. I find that high inventory also erodes buyer confidence. Motivated buyers can stay on the sidelines when they continue to see lots of homes that aren’t selling. “Once I buy, would I ever be able to sell?” they think. As homes start selling, more buyers get in the market. I think we’re seeing that happen here.
Every month this year we’ve seen inventory melt away. From mid June to mid July, total inventory went down Read the rest of this entry »
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True Story: My Realtor Gave My Home Away
July 16th, 2009 Categories: Selling
Less than two years ago we listed our home for sale with an area “Top Producer”. Just 13 months earlier, they sold a home in our neighborhood that was very similar to ours’ — same floor plan, same builder, 2 acres, 3 car side-load garage, 2 fireplaces, big bright basement, etc. They implemented a great marketing plan and were able to sell “Home A” for $1,125,000 in only 67 days. So for us, having these guys sell our home – “Home B” – was a no brainer. We soon discovered that our experience would be quite a bit different. Did we make the right choice? Read the rest of this entry »
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Metro D.C. Unemployment Up in 2009
July 7th, 2009 Categories: Market Updates
A strong job market is essential for a healthy real estate market. The metro D.C. area continues to have the lowest unemployment of the largest 15 metropolitan areas in the U.S. Compared to unemployment in November, however, the stats show that we’re not immune to job losses experienced throughout the country.
A higher jobless rate can drive up the rate of foreclosures. And, with fewer jobs we see fewer job relocations which reduce the number of new home buyers coming into the area .
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