MoCoRealEstate

Archive for December, 2009

Understand How Home Search Sites Work

December 22nd, 2009 Categories: Buying

Home search sites on the web are not the same

The internet has revolutionized the home buying process.  In the past, real estate agents were gatekeepers of critical real estate data:  homes available for sale, past sales in a neighborhood and more.  No more.  Consumers can access information from a countless number of sites without the need of an agent.  This is definitely good for buyers, sellers and the real estate industry.  Unfortunately, consumers now have a new challenge when navigating a tidal wave of home sites — there’s a lot of bad information out there.  To help find the good and avoid the bad, I’ll explain the basics of web home searches and review some of the popular home search sites for Montgomery County and the Metro Washington D.C. area. Read the rest of this entry »

Posted by Bruce Lemieux | 1 Comment »

Snowed In

December 20th, 2009 Categories: In General

We don’t get a lot of snow here, but this weekend is clearly the exception — over two feet from Friday to Saturday.  We’ll be digging out for a couple days.

Posted by Bruce Lemieux | 1 Comment »

Montgomery County Real Estate Market Update for December 2009

December 17th, 2009 Categories: Market Updates

Overall inventory of available homes in Montgomery County continues to dissolve dropping over 7% from mid November; down 39% for the year.  The very small pool of available homes is really making it tough for buyers to find homes that meet their needs.

The total number of distress sales inched up a bit, but has been flat for the last several months.  Transaction volume was still high in November compare to last year, but it’s trending down as we expect this time of year.

Buyers and sellers are anticipating the coming Spring market.  Low interest rates and low inventory set the stage for a healthy — dare I say “normal” — market in early 2010.  If you are planning a move, contact us so we can help you get ready.

Posted by Bruce Lemieux | Leave A Comment

This Poolesville Townhome Sparkles

December 16th, 2009 Categories: Poolesville

This Poolesville townhome would be ideal for a first-time home buyer or investor.  Everything’s been updated: windows, roof, siding, systems and more.  New baths, carpet and paint make it move-in ready.  What a great value!

Posted by Bruce Lemieux | Leave A Comment

Past Sales for Potomac, North Potomac and Darnestown

December 9th, 2009 Categories: Market Updates

Detailed past sales for 2009 have been posted for the following areas and neighborhoods.  Past sales are updated here periodically.  Contact us if you would like to see current past sales for your areas of interest.

Posted by Bruce Lemieux | 2 Comments »

Home Tour in Bethesda

December 2nd, 2009 Categories: Bethesda

What can you get for $1 million dollars in Bethesda?  How much would one pay for a nice, new construction in Bethesda?  OK, how about something cheap.  What will $700,000 buy?

These are common questions that we get from home buyers interested in a great Bethesda location.  With this in mind, I toured three homes that answer these basic questions. Read the rest of this entry »

Posted by Bruce Lemieux | Leave A Comment

Top 5 Myths About Home Inspections in Montgomery County

December 1st, 2009 Categories: Buying, Selling

A buyer can only void a contract if a home inspection reveals serious/legitimate issues

The typical home inspection contingency allows a buyer to either negotiate home inspection items or void the contract and have his escrow deposit returned within a negotiated time frame (usually 7 to 14 days).  Absolutely no reason has to be given for voiding the contract:  none, nada, zip.  Is that fair to buyer and seller?  Absolutely.  Ultimately, only the buyer’s opinion of the property matters.  Imagine what would happen if the buyer had to provide a “legitimate” reason to void the contract.  A buyer’s and seller’s definition of “legitimate” would rarely line-up.  Since the buyer is the one taking possession, his opinion is the only one that matters.  Is this a way for a buyer to back out of a contract for no reason?  Yes, it is.  It does happen, but not that often.

A buyer has only one opportunity to inspect a home

Typically a buyer will have only one inspection from a licensed home inspector, but a buyer could have several at his discretion provided they are completed within the agreed-to time limit.  The best strategy is Read the rest of this entry »

Posted by Bruce Lemieux | 1 Comment »