|
Fall Real Estate 101
A group of us were talking yesterday about how the fall real estate market always catches us by surprise. Always.
We had, I think, about 100 years of experience between us. (And the room wasn't crowded, but that's another article.) You'd think we would have learned by now.
It starts the day after Labor Day like someone threw a switch. Not the gradual build up we get as late winter turns to spring. It's like getting in a time machine and suddenly it's the middle of April, only we're tan and sort of sluggish. The phones light up (thank you.) Our email boxes fill with notifications of new listings. Signs pop up all over town. And we go from the arguably slowest weeks of the year (late August) to just about the busiest. Overnight.
The hardest part for us is helping buyers and sellers understand what a very short window of opportunity we're talking here. Two months - maybe ten weeks depending on the weather and how early Labor Day fell - and then we slow down for the holidays and for the winter.
For sellers, that's ten weeks to get you ready to show, on the market and negotiate a contract. Fortunately, low inventory and rising interest rates are creating such high demand that marketing times are short, prices are rising and negotiations fairly straightforward. It's the beautifully presented homes which are leading the market though so as much as ever, it pays to stage! Putting the effort into being sure that every last detail of your property really, really shines before we order that sign up in your front yard will come back to you tenfold. For my scrambling sellers out there this week (you know who you are) - keep going! You're doing a great job!
For buyers, this means no dawdling, as my mother used to say. If we're just beginning your search we need to get you pre-approved with a good lender and need to get out there to see a bunch of houses now so you'll know it when IT comes. Even houses you don't especially fancy or want to buy - as long as they are in the area and price range, we need to do the leg work. And when a good one does come along, we should try to see it the same day it comes on the market. That way you'll have time for a second look if necessary. Then we'll want to get an offer in right away because waiting for the open house these days just isn't realistic.Some agents wait a few days to give all interested parties a chance to come forward, but not always. Plenty of good properties are selling 'first come first served" and even a day can mean disappointment. Even when they wait, a good agent will often note who showed the first interest, an advantage that can tip the balance if your offer is essentially tied with another. In short, evenings, lunch time, whatever works.
If you're thinking about a move, give us a call! We're here to help whatever the time of year - but the more lead time we have the better we can help you plan.
Everyone enjoy this lovely cool weather!
Barbara, Tom, and Susan
Nalls Home Partners
The Nalls Home Partners
|
Client Of The Month
Our Clients of the Month are Arun and Vidhya Arunkumar shown here with their delightful son, Vishwa, at the closing on their new home. Arun and Vidhya bought a unit in the Westbard Condominiums, right off River Road in the heart of Bethesda. Savvy buyers, they chose their new home based on it's location within the Walt Whitman High School cluster and it's convenience to shopping and transportation, all with an eye toward investment and long term appreciation. For now, the family is just happy to have a place to call their own, with lots of green space where Vishwa can play. We wish them lots of happiness in their new home!
|
A First-Ever Flip in Mortgage Affordability
For the first time ever, interest rates for jumbo mortgages have dropped below the average rates for conforming mortgages, lenders say.
The average interest rate for a 30-year fixed-rate conforming mortgage last week was 4.73 percent while the average for a jumbo 30-year fixed-rate mortgage was 4.71 percent, according to the Mortgage Bankers Association.
"In my 30-year career, I've never seen nonconforming loans priced below conforming loans," says Brad Blackwell, executive vice president of Wells Fargo Home Mortgage. Typically, rates for jumbo mortgages run at least 0.25 percentage points above rates for conforming loans. In 2008, jumbo mortgage rates peaked at 1.8 percentage points above conforming rates, according to HSH.com data.
"I've had situations where I've told clients, 'You don't need to borrow within the [conforming] limit. I can get you a lower rate if you borrow a little more,'" said Rolan Shnayder, director of new-development lending at H.O.M.E. Mortgage Bankers in New York.
Jumbo mortgages are those that exceed the $417,000 limit to qualify for backing by mortgage giants Freddie Mac and Fannie Mae. The limit may be lifted to $625,000 in some high-cost markets, such as New York and Washington.
Click on Below Resource Article from the Wall Street Journal:
'Jumbo' Mortgage Rates Fall Below Traditional Ones
Information From the National Association of Realtors
|
|
Regional
Sales Trends
Sales Trends for
Single Family Homes
Contracts Ratified Per Month
Montgomery County
(information from GCAAR)
Washington DC
(information from GCAAR) 
|
|
7701 Marbury Road
Bethesda, MD 20817
$1,999,000
Gorgeous new-build in 2007 beautifully improved by meticulous owners. Six bedrooms, five and a half baths, 7500+ sq ft on four full daylight levels, gorgeous finishes, fantastic room proportions, very large, open lot. Sumptuous master w/the bath and closet of your dreams, Viking/subzero kitchen with an island that goes on for days, mud room, porches, the works! Great sports court, deck & fenced backyard!
|
|
5513 Westbard Ave.
Bethesda, MD 20816
$1,074,000
Come see the fantastic interior of this 5 level, 5 bedroom, 4.5 bath home in sought after Westwood. Gourmet kitchen with skylights and breakfast room, oversized dining room, butlers pantry are ideal for entertaining. Ample living space with huge family room with fireplace, recreation room, media room, formal living room with fireplace. Great location, less than 2 miles to DC or downtown Bethesda.
Please Click Here to View the Virtual Tour
Estimated Tax and Non-Tax Charges in the First Fiscal Year of Ownership $10,788.40
|
|
Under Contract
8722 MANCHESTER RD #8
SILVER SPRING,
$119,000
Bright, renovated, convenient - and at a price you can afford! Large sunny top floor 2 BR unit. Spacious living room, dining area + renovated kitchen w/ stainless steel appliances and Silestone Counters! 2nd BR w/ custom built-ins. Great closet space. + extra storage. Fee inc: taxes & all utilities- it's a great deal!
Monthly Coop Fee: $492.31
Estimated Tax and Non-Tax Charges in the First Fiscal Year of Ownership $1,025.00
|
|
5101 River Road #1502
Bethesda, MD 20816
$379,000
Amazing Location - Steps to Crescent Trail, Whole Food & Metro Bus in Front of Building! Spacious two bedroom, two full bath corner unit corner unit with awesome views from 15th floor balcony! Huge living room opens to gracious dining room, both rooms have crown molding & scenic views. Lots of closet space- 3 HUGE walk-in closets. Building includes: 24 hr Front Desk, Pool, Fitness Room, & Party Room. Garage Parking space included.
Condo Fee: $1013.00 Condo fee includes: Air Conditioning, Cable TV, Electricity, Heat, Management, Master Insurance, Trash Removal, Water, Pool, and Exercise Room
Estimated Tax and Non-Tax Charges in the First Fiscal Year of Ownership $3,369
|
|
Sold
911 Davis Ave.
Takoma Park, MD 20912
$649,000
Original Farm Home in highly sought-after Takoma Park. This rarely available special property, built circa 1900, boasts an enchanting covered front porch, original wood floors, intricate wood trim, period moldings, and custom built-ins, and sits on a lovely corner lot with a fish pond, a fully fenced in yard, mature espaliered apple tree, and blooming flowers. Huge rear deck & great front porch!
Please Click Here to View the Virtual Tour
Estimated Tax and Non-Tax Charges in the First Fiscal Year of Ownership $7,502.26
|
|
Sold
1622 Cody Drive
Silver Spring, MD 20902
$488,000
Renovated & expanded cape cod in Forest Estates, .52 miles to Forest Glen Metro. Four bedrooms, two and a half baths. Granite & stainless steel kitchen, opens to sun-filled family room. Stylish new kitchen, sleek new baths, magnificent Bamboo flooring, replacement windows & new high-end appliances! Finished lower level. Covered front porch, rear shed, built-in brick BBQ pit, patio, rear basketball court & fenced in level backyard!.
� Please Click Here to View the Virtual Tour� � � �
Estimated Tax and Non-Tax Charges in the First Fiscal Year of Ownership $4,235
|
|
Sold
4216 Gelding Lane
Olney MD 20832
$525,000
Immaculate four bedroom, two and a half bath colonial. Updated throughout, three finished levels, two car garage, great lot, across from park. Kitchen with granite, stainless steel and custom cabinets. Renovated baths. Large bedrooms. Screen porch and deck. Gleaming hardwood floors, two story foyer, built ins, crown molding, to much to list. Priced to sell!
Please Click Here to View the Virtual Tour
Estimated Tax and Non-Tax Charges in the First Fiscal Year of Ownership $4,804.27
|
|
Sold
2708 Blaine Drive
Chevy Chase, MD 20815
$710,000
Picture perfect, classic colonial in sought after Rock Creek Forest. GREAT room sizes, updated kitchen, dining room with 2 built-in China cabinets, main level family room addition, 3 sun filled bedrooms on upper level, + finished walk-out lower level with full bath & 4th bedroom! Exterior with side screened in porch, deck, driveway & garage! Near park, school, shops, swim/tennis - a great value!
Please Click Here to View the Virtual Tour
Estimated Tax and Non-Tax Charges in the First Fiscal Year of Ownership $6,128.82
|
|
Sold
6506 79th Place
Cabin John, MD 20818
$1,389,000
Impressive Arts & Crafts home with 6 bedrooms, 5.5 baths, chef's kitchen w/granite counters & stainless steel appliances, 2 fireplaces, 1st floor bedroom suite with walk-in closet & full bath, master bedroom suite with dual walk-in closets, cathedral ceilings & lux bath. Finished lower level with recreation / media room, 6th bedroom, wine cellar / utility closet & full bath. Front & rear covered porches + 2-car garage & additional front driveway for extra parking! Rear hot tub! Easy commute to VA & DC. Whitman cluster.
Please Click Here to View the Virtual Tour
Estimated Tax and Non-Tax Charges in the First Fiscal Year of Ownership $13,494.51
|
 Coupon! 10% Off
for Nalls Home Partners Clients!  We Deliver - You Pack - We Pick Up - We Store and Move!410-353-5268
|
|
Click On Image to Visit
Our Blog
|
Today's Interest Rates
30 Year Fixed 4.57%
15 Year Fixed 3.59%
5 Year Arm 3.22%
|
|
Click On Image to Visit Our Website |
Know Your Stuff� - Home Inventory, the Insurance Information Institute's free online home inventory software. This application makes creating and updating your home inventory easy and efficient. And with our free, secure online storage you will have access to your inventory anywhere, any time. You never know when a disaster may strike, but you can be prepared with an up-to-date home inventory.
Click on Above Image to Enroll in this Free Online Program
|
|
H Street Festival 2013
 Date and Time:
September 21, 2013
Noon until 6 p.m. Location: H Street between 8th & 14th Streets, NE.
Washington, DC.
The H Street Festival is an annual street festival designed to showcase the unique qualities of this vibrant Washington, DC community. The event is a part of the revitalization strategy to bring attention to the developing arts and entertainment district at the eastern end of the H Street NE corridor.
|
Washington DC Home & Garden Shows 2013
September 20th-22th, 2013
Dulles Expo Center
Find fresh inspiration,
helpful tips, innovative
products and fantastic deals
in remodeling, home improvement, design and fall outdoor projects with hundreds of experts all under one roof. From windows and flooring to cabinets and decor plus so much more. Shop, compare and save for 3 days only!
|
|
Walk Score!
What is Your Home's Walk Score? Click on the Above Image to Find Out!
|
Check Out Our School Boundary Widget on Our Website!
Find School and District Boundaries
 What School is this Property Zoned to? Click on the Above Image or go to our Home Page www.nallshome.com to Find Out! (Look in the Middle of the Home Page)
|
|
|
|
Deb Levy Eagle Bank 1425 K Street, NW Washington, DC 20005 Office 202-292-1581 Mobile 301-332-7758 Fax 301-841-0282 NMLS ID: 481255
[email protected]
|
Counselor Title, LLC
John G. Nalls
4400 Jenifer Street, NW Suite 200
240-498-8290
240-498-8290
240-498-8290
|
Chip Castell
301-593-7964
| |
|
Brian T. FarasyVice President/Mortgage Banker
NMLS# 728159
15400 Calhoun Drive Suite 170
Rockville, MD 20855
Phone: (301) 279-5145
Mobile: (240) 277-4422
|
Alliance Home Improvement
301-260-7695 Main
240-223-7733 Direct
301-260-7693 Fax
| |
|
RTS Environmental
Services, Inc.
www.rtsenvironmental.com 301-607-6276 1-800-722-5589 RTS Environmental Services performs Pre-Purchase and discovery inspections for Mold and Asbestos building issues. RTS also provides solutions for issues which may require mold and asbestos removal according to industry methods, practices and standards.
|
|
|
James Scott, Jr.
6001 Montrose Road Suite 805
Rockville, MD 20852
301-881-3220
| |
|
Contact Us
|
Long & Foster Real Estate, Inc.
Nalls Home Partners, LLC.
Top 1% of Realtors Nationwide
7700 Old Georgetown Road, Suite 120
Bethesda, MD 20814
Tom's Cell: 301-237-5170
Barbara's Cell: 240-602-9035
Susan's Cell: 301-943-3851
Office: 240-497-1700
|
All information in this e-newsletter is deemed reliable but not guaranteed.
|
|
| |
