Shut Down Low Down 
Absolutely no way am I wading into the morass of the "Partial Government Shutdown" with an opinion or even a scholarly report. But as it is, quite obviously, the most important single issue impacting our local real estate market this fall, I'll address it today - but lightly, and around the edges.
It's not all bad news. The market was pretty strong going into this business so there was some momentum. If it doesn't last too long, we should be able to bounce right through it. There was great fear that lending would freeze because of difficulty getting income verification for some Federal workers and IRS income verification, but many lenders have told me that their institutions are going ahead and manually processing the loans based on old fashioned pay stubs and tax documents. Many lenders are also continuing to process government loans - VA and FHA - with fingers crossed that there won't be any problems sending the loans on when the government re-opens. Good for them! So lending hasn't gotten any easier but with a little good ole American ingenuity, they're getting the job done.
What this will do to consumer confidence in our area's housing market remains to be seen. Obviously, with the largest concentration of Federal workers in the country, there are lots of folks who are sitting home with time on their hands, but somehow I doubt that their first thought is to get online and look at houses. Whether existing buyers will jump right back into the market and / or new buyers enter the market when this is over is hard to say. Assuming it doesn't go too much longer, we'll still have a few weeks of our fall market left. If it goes on into November, buyers might just decide to wait until spring. Some agents I've spoken with think we'll have a super busy late fall season to catch up with the demand; others suspect we won't see the buyers again until February. I tend a bit to the latter, but am hopeful for the former. We'll see.
Enough from me. Call if you'd like to discuss further. In the mean time, here are two good articles on the subject
Barbara, Tom, and Susan
Nalls Home Partners
The Nalls Home Partners
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By NAR 2013 President Gary Thomas
If you're considering how nice it would be to own a larger home, this may be the time to buy.
For the first time in history, interest rates on jumbo mortgages actually fell below the interest rate of conforming 30-year fixed-rate loans.
As REALTORS® well know, jumbo loans are those over the local limit that can vary from $417,000 to $729,750, depending on the county.
Traditionally, consumers who needed a home loan bigger than a conforming mortgage would pay a higher rate of interest for the privilege of borrowing more money-often a quarter of a percent or greater, and for a brief period it was nearly two percentage points.
But with mortgage rates much higher than a year ago and declining profits from refinances, banks have become more aggressive in pricing mortgages. As a result, it is now cheaper to borrow in the jumbo market which is currently dominated by private lenders.
With interest rates at historic lows, more buyers are willing to stretch to buy bigger properties and more buyers are able to qualify for a jumbo loan. But even non-jumbo home buyers should look into the competitive rates at banks and credit unions.
There's no telling how long it will continue, but this unusual circumstance may offer an opportunity for REALTORS®. Think big!
Information From the National Association of Realtors
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Regional
Sales Trends
Sales Trends for
Single Family Homes
Contracts Ratified Per Month
Montgomery County
(information from GCAAR)
Washington DC
(information from GCAAR) 
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4020 17th Street, NW
Washington, DC 20011
$825,000
The best of EVERYTHING!! Beautiful original owner colonial, new kitchen, fresh paint, gleaming hardwood floors, renovated baths & newly finished LL - the works! 3/4 bedrooms, 2 full baths + 2 half baths, including possible 1st floor master bedroom. Sun room, family room. Fantastic over sized lot w plenty of room for expansion and/or garage,Fantastic Crestwood location just minutes to downtown, Rock Creek Park, vibrant Silver Spring.
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2709 Blaine Drive Chevy Chase, MD 20815 $749,500
This is it! Expanded, updated, colonial on one of Rock Creek Forest's prettiest streets! Versatile floor plan, Large bright rooms, updated eat in kitchen, real 1st floor family room, beautiful sun room open to patio, generous bedrooms with good closets, large, charming lower level with multiple rooms, great private lot. Very well maintained & cared for, new windows, recent systems, excellent opportunity in very popular neighborhood!
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511 Goodland Place
Rockville, MD 20850
$699,000
Super popular Lakewood Model on beautiful Goodland Place with ALL the builder upgrades: finished third floor with bath, finished garage loft with half bath, an inviting front porch, gorgeous finishes, hardwood floors, the works! 3/4/5 bedrooms (including loft and 3rd floor), three full and two half baths, kitchen open to family room with fireplace, courtyard patio, great garage, loads of storage. No disappointments - this one shines!
Estimated Tax and Non-Tax Charges in the First Fiscal Year of Ownership $7,804.62
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Under Contract
7701 Marbury Road
Bethesda, MD 20817
Thoughtful design & breathtaking details combine to make this 4 level, 6BR, 5.5BA Craftsman the home of your dreams. Well cited on a very large lot, the distinctive residence offers substantial living, dining & family rooms, a magnificent chef's kitchen, mudroom, library, porch, a beautiful deck & spacious 2 car garage. Large bright bedrooms & a decadent owner's suite upstairs and perfectly finished LL open to the fenced rear yard (& sportcourt!) complete the picture. Ideally located near schools and vibrant downtown Bethesda, this is the one you've been waiting for!
Estimated Tax and Non-Tax Charges in the First Fiscal Year of Ownership $22,714.140
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Under Contract
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
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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 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
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Sold
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
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 Today's Interest Rates
30 Year Fixed 4.57%
15 Year Fixed 3.59%
5 Year Arm 3.22%
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Fun Event
Bethesda Row Arts Festival 2013 Festival Dates and Times October 19-20, 2013
Saturday, - 11 am to 6 p.m.
Sunday - 10 am to 5 p.m.
The Bethesda Row Arts Festival is featuring the works of more than 180 of the nation's finest artists. The family friendly event also includes some of the area's best street performers, musical acts, food and dining plus hands-on children's art activities. Arts and crafts include photography, jewelry, glass, ceramics, drawings and pastels, oil painting, watercolor, wood, metalwork, fiber, printmaking, sculpture, digital art, and mixed media. The Bethesda Row Arts Festival is a community event that benefits NIH Children's Charities, which include The Children's Inn, Camp Fantastic/Special Love, Inc., and Friends of the Clinical Center.
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Fun Event
Fall Frolic at Glen Echo Saturday October 26th
1-4PM
Fall Frolic is the Glen Echo Park Partnership's annual Halloween-themed family event. It's open to the public, and visitors of all ages are invited to the Park to explore the arts through hands-on crafts, Halloween activities, and performances. It's a safe and fun Halloween event with something for everyone!
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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.
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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
deblevy@eaglebankcorp.com
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Counselor Title, LLC
John G. Nalls
4400 Jenifer Street, NW Suite 200
240-498-8290
240-498-8290
240-498-8290
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Chip Castell
301-593-7964
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Brian T. FarasyVice President/Mortgage Banker
NMLS# 728159
15400 Calhoun Drive Suite 170
Rockville, MD 20855
Phone: (301) 279-5145
Mobile: (240) 277-4422
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Alliance Home Improvement
301-260-7695 Main
240-223-7733 Direct
301-260-7693 Fax
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RTS Environmental
Services, Inc.
www.rtsenvironmental.com 301-607-6276 1-800-722-5589 rtsenviro@comcast.net 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.
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James Scott, Jr.
6001 Montrose Road Suite 805
Rockville, MD 20852
301-881-3220
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Contact Us
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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
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All information in this e-newsletter is deemed reliable but not guaranteed.
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