Bethesda... and beyond!

Real estate prices are on the rise: does this mean a 2013 bubble?

Sat, 16 Mar 2013 14:06:49 -0700

Real estate prices are on the rise: does this mean a 2013 bubble?

By now you have heard the stories about historically low rates of housing inventory and bidding wars in areas where prices have reached rock bottom. You've also heard stories about crazy bidding wars locally, in places like Bethesda, MD. where prices are far from rock bottom!

It's all true, and I have the bags under my eyes to prove it. It’s not uncommon to write 3 or 4 offers for every property I can get under contract for a buyer. And I mean good offers, often above list price. Eleventh hour offer-writing has become the new normal, as listing agents announce that all offers will be considered the next day, and that's often 4 days after a house has been on the market. I’ve been on both sides of the multiple bid wars: listing and buyer agent, and believe me when I say it’s not fun.

Propelled by the lowest interest rates in US history and the realization that buying can be considerably cheaper than renting, buyers are out in advance of the traditional spring buying season looking for homes, and in some cases driving up the prices 10 or more percent above list price.

This has provoked some frustrated buyers to wonder whether we are in the midst of a run up, a new bubble, like we saw in the 2000-2006 period.

Here are the four main reasons why I think this is not the case.

One: buyers are putting money or “skin” into the game, a lot more than during the boom and bubble years. Ten years ago, if you had a pulse and a more or less vertical posture, you could get a mortgage. It didn’t matter whether you could demonstrate adequate income, there were liar loans to take care of that. No money to put down, no problem. Zero percent down-payment loans took care of that.

This is far from the case today. Underwriting standards are tight, too tight probably, as the pendulum has swung to the other extreme. Buyers must put more money down. FHA loans have increased their costs and requirements. Higher credit scores are needed. Many buyers who really can afford a home are being squeezed out of home buying.

Two: interest rates are at rock bottom. Buyers are able to get a fixed rate for 30 years at under 4%. Gone are the teaser rates of 10 years ago, which then exploded into 10-15% year interest. Buyers are locking in affordability.

Three: prices are still well below their peak, and well below where they would be if prices had just maintained a steady norm, or the historic rate of 4% price appreciation yearly.

At the close of 2012 the US national average price for a home was $177,000. At the peak, it was $222,000. If normal price appreciation of 4% a year had taken place instead of the boom-bust cycle, the US price average would be at $231,000. Locally, as we shall see further on, prices in Bethesda MD and nearby jurisdictions remain more or less at their 2008 level.

Four: housing affordability is at an all time high, and this means more people can truly afford to purchase. Here is a comparison that puts the issue of “affordability” in perspective.

Historically, households in the U.S. spend about 21 % of their income on housing. Currently the average is just 13 %. Here is how that translates into dollars and cents.

In1989, the median home price was $94,000. Due to double-digit interest rates, the monthly principal and interest payment on that home was $825.

Today, the median is $176,000, but the monthly cost to own is only $626. So even at double the price compared with 24 years ago, the monthly carrying cost (not including property taxes) is about 25% less.

Rising Tide

The result of the low inventory and low interest rates spurring more buying, is that home price indexes like the S&P Case-Schiller index, which covers 20 major metropolitan areas, closed out 2012 at 6.9% higher than the previous year. That’s the highest increase since 2006.

New home sales also surged 15.6% last year, though the number of new homes being built is still quite low. While we welcome the new jobs that home building creates, a slow pace of new home construction allows the excess inventory of existing homes to be drawn down.

Another encouraging sign: Zillow’s analysts report that during 2012, about 2 million home owners who were "under water", ie who owed more on their mortgages than their homes were worth, were brought above water by the rising tide. Another one million are expected to follow suit in 2013.

Now let’s have a look at our local and regional real estate markets:

In February 2013, the median home price in the greater Washington DC metro area was $355,000, up almost 12% from the year before. Active listings were only 6092, down 38% from February 2012, at 9823. Pending sales were down very slightly from last year, not because of a decrease in demand, but because of the shortage of properties on the market

The number of bank-owned active listings (foreclosures) has dropped from its peak of 2,272 in March 2009, to only 194 last month in our region.

Overall inventory is trending into strong "sellers market " territory. A balanced market is generally defined as a six month supply of properties on the market at any given time. Above that is a buyers' market, and below, a sellers market. What's unusual about the DC area is that even as the market approached its worst moments in 2006, inventory was never strongly favoring the buyer, except in some pockets.

In Washington DC we went from a 4 month supply in 2006, to 1.8 months now. Montgomery County went from a 6.5 month supply to 1.9. Arlington from 3 months to 1.2.

The greater DC market encompasses a wide range of districts ranging from pricey and very small districts like Falls Church, to large counties with depressed prices such as Prince Georges' County.

Here are some of February 2013's median home sales prices:

Arlington $484,500 up 0.9% from the year before

DC $432,500 up 8.5%

Montgomery County $347,000 up 10.2%

Prince George's County $165,000 up 8.6%

Montgomery County encompasses some of the area’s highest priced and most stable real estate districts.

The average home price in Bethesda zip code 20814 in 2012 was $767,000.

Bethesda zip 20816 $832,000.

Bethesda zip 20817 $921,000.

Chevy Chase zip 20815 $925,000.

Kensington zip 20895 $519,000.

All these numbers remain almost unchanged from 2008. (Data provided by MRIS as published in Bethesda Magazine March/April 2013.)

Moral of the story: if you have been hesitating to put a property on the market because you are unsure of its value, call me or another Realtor for an evaluation. If you have been hesitating to buy, do the math, and see if it makes sense to buy rather than continue paying someone else’s mortgage.

This is adapted from a presentation given by Dana Scanlon on March 13, 2013 to an audience at the Goethe Institute in Washington D.C.

Real Estate Results with "savoir faire". Subscribe to my Bethesda and Beyond blog to receive regular market information and other updates on real estate & happenings in Bethesda, Kensington and the DC Metro area. Feel free to contact me for a confidential consultation on buying or selling in Bethesda MD.

Dana Scanlon - Local Expertise ~ Global Advantage - in MD, DC & VA - 301-575-4915

Voted One of the Best Realtors by the Readers of Bethesda Magazine 2012

Stunning Sun-Drenched Contemporary w/ Upgrades in Kensington!

Mon, 11 Mar 2013 14:15:52 -0700

Dana Scanlon - Local Expertise ~ Global Advantage - in MD, DC & VA - 301-575-4915

Voted One of the Best Realtors by the Readers of Bethesda Magazine 2012

Townhouse with Upgrades In An Idyllic Location in Rockville, MD

Tue, 26 Feb 2013 12:22:40 -0800

Dana Scanlon - Local Expertise ~ Global Advantage - in MD, DC & VA - 301-575-4915

Voted One of the Best Realtors by the Readers of Bethesda Magazine 2012

Big Opportunities On a "Small" Budget NOW In Bethesda MD

Thu, 24 Jan 2013 06:45:02 -0800

Big Opportunities On a Small Budget now In Bethesda MD

As we head into 2013 you may find yourself more ready than ever to say “YES to Homeownership! There are some Big Opportunities on a "Small" Budget available now in Bethesda MD. "Small" is a relative term, but for those seeking the security of a time-tested and highly desirable location in the Washington DC metro area, your time could be now.

There are currently 5 detached single family homes listed as standard sales (not short sales or foreclosures) priced under $620K. These properties are listed for sale in neighborhoods including Ashburton in North Bethesda, Alta Vista Gardens, Rosedale Park, and Parkview.

For smaller families or investors looking for good rental opportunities, there are currently 41 properties listed for sale, of which 8 are potential short sales, foreclosures, or reo/bank owned. These properties are scattered throughout Bethesda and depending on your wish list there may be a few in the location that is just right for you!

You may have just begun the browsing around or you could be looking to move as soon as possible either way you will benefit from having an award winning professional to guide you through this very important event in your life. Regardless of where you are in the homeownership process now is a great time to take action and call me! I can facilitate viewings of any of these properties, and keeping your needs in mind help you to find the right one. If none of these properties are right for you I can also keep you up to date on any future opportunities that come available.

Bethesda is one of the hottest markets in the country, so don’t waste time looking at websites that are not kept up to date: the good deals are here today, gone tomorrow. As a seasoned buyer agent, I can make sure you don’t miss out. Did you know that your buyer agent’s commission is included in the list price?

Many of these properties feature a minimum of 4 bedrooms and 2+ baths. Most have additional living space in the basement and a few even have garages. Other benefits of neighborhoods in the area can include family friendly parks tucked away under the canopy of beautiful trees, short travel time to the metro, other public transportation, and beltway. Additionally, most of these properties are within a 10 minute drive to downtown Bethesda and shopping off Rockville Pike.

I keep a close eye on Bethesda home inventory on daily basis. With your best interestes in mind I can help you find the home you are looking for. Whether you are a first time homebuyer or a real estate investor, I welcome the opportunity to show you some Big Opportunities on a "Small" Budget available now in Bethesda MD.

Dana Scanlon - Local Expertise ~ Global Advantage - in MD, DC & VA - 301-575-4915

Voted One of the Best Realtors by the Readers of Bethesda Magazine 2012

Should you appeal your Bethesda Property Tax Assessment?

Thu, 17 Jan 2013 06:32:12 -0800

Should you appeal your Bethesda Property Tax Assessment? For many of you, the answer to that question is a definite yes!

If you have just received your Maryland property tax assessment in the mail, and are surprised to see a higher than expected valuation of your Bethesda, MD or area home, it may be worth your time to appeal. If you have just received a “new market value” assessment (this is done every 3 years in Maryland), dated Jan. 1 2013, the deadline to appeal is February 11, 2013. So there is no time to waste.

The tax assessors take into account a variety of recent neighborhood sale factors. Perhaps your home is not as updated or upgraded as several homes nearby that recently sold at premium prices. The tax assessor doesn’t knock on your door to see if you just installed new kitchen cabinets, stainless steel appliances and granite counter tops.

There is no reason to pay more taxes than necessary. So if you feel the valuation is off, plan to make a written appeal, and if successful, that could save you some bucks over the next 3 years.
The first step in appealing is to prove that the true market value of your property is below the assessed value. I can help you in that process because I can access comparable property sales figures from the last few months which will show the current market value of your property, which is to say actual sales price of similar properties in the same neighborhood. That’s where I come in, with my offer of a complementary Comparable Market Analysis. Over the years, many Bethesda and area homeowners have been successful in appealing their property taxes with the information I have provided them.

For properties located in Bethesda, Chevy Chase, Kensington, Rockville or Silver Spring, just send me an email, with your property address. Be sure to include a description of the home, its condition, list of improvements or upgrades you have made, if any, and I will email back with the Comparable Market Analysis in a form that you can use for the appeal. Use the back of your new Tax Assessment Notice to file the appeal along with my CMA report.

For general information on the appeals process, check out the following web site:
http://www.dat.state.md.us/sdatweb/appeal.html

I am here to help, so give me a call or email me today!

Dana Scanlon - Local Expertise ~ Global Advantage - in MD, DC & VA - 301-575-4915

Voted One of the Best Realtors by the Readers of Bethesda Magazine 2012

9702 Parkwood Drive – Bethesda MD 20814

Mon, 14 Jan 2013 16:36:30 -0800

A luxury home perfectly proportioned for today's lifestyle

5 bedrooms, 3 ½ baths with office and recreation room

SOLD BY DANA !

This extraordinary home is the result of a painstaking expansion and renovation conceived by award-winning GTM Architects, in collaboration with interior designers. The result: a soothing oasis perfectly proportioned for the way we live today, yet including high tech touches.

Ideally situated just steps away from a path leading into the trails of Rock Creek Park, the home is also close to major transportation arteries and all the activities and buzz that Bethesda has to offer. From the mahogany front porch, to the home's soft palette of paint colors and the chef's kitchen, this home will wow you. The very large yard lends itself to all occasions from a casual barbeque and game of football to a wedding.

Features and amenities

•· 10,500 square foot lot

•· exterior of brick & Hardie Plank; 25-five year architectural shingles; metal roof over porch.

•· Custom cabinetry in kitchen and bathrooms

•· Exotic granite in kitchen

•· Hardwood flooring on 2 levels; bamboo on lower level

•· All new electrical & new plumbing throughout

•· Central vacuum system with kitchen toe-kick

•· Two-zone heat and A/C with programmable thermostats

•· Storage under rear addition

•· Fisher Paykel kitchen appliances - 2 year warranties including parts & labor

•· Whole house wired for internet, telephone, cable

•· Recessed lights throughout main and lower levels, and in areas of upper level

•· Jeld-Wen energy star windows, both sashes tilt in for easy cleaning

•· All new heating and air conditioning systems

•· Pull down steps to attic storage area

Dana Scanlon - Local Expertise ~ Global Advantage - in MD, DC & VA - 301-575-4915

Voted One of the Best Realtors by the Readers of Bethesda Magazine 2012

Maryland Homeowners: Don't Let the Tax Grinch Steal Your Holiday!

Fri, 14 Dec 2012 17:52:55 -0800

Maryland Homeowners: Don’t Let The Grinch Steal Your Tax Holiday!

December 31st is the deadline for filing an application for the Maryland Homestead Tax Credit. Recent legislation requires all homeowners to submit a one time application to continue their homestead tax credit eligibility. Even those who in the past have received the credit must file the form if they haven’t already done so. For more info please visit the Maryland State Department of Assessments and Taxation.

This credit is not eligible on rental or investment properties. If you are unsure if you have filled out this application please visit the Maryland State Department of Assessments and Taxation and enter your property information on the search page. At the bottom of your property data you should see the homestead application status.

If you are eligible and have not yet submitted your application. . . . don’t wait any longer! This does not take much time.

How can Dana help you?

Dana buys and sells homes in your neighborhood. Even if you aren’t planning on buying or selling right now Dana is never too busy to answer any of your real estate questions.

Don’t forget Maryland Homeowners: Don’t Let the Grinch Steal Your Tax Holiday!!!

Dana Scanlon - Local Expertise ~ Global Advantage - in MD, DC & VA - 301-575-4915

Voted One of the Best Realtors by the Readers of Bethesda Magazine 2012

WANTED . . . Buyers looking for a 5BR 3 BA Colonial in Wildwood Manor!

Sun, 11 Nov 2012 06:51:11 -0800

WANTED . . . Buyers looking for a 5BR 3 BA Colonial in Wildwood Manor!

This home in Wildood Manor is tucked between Grosvenor Lane and Old Georgetown Road in the city of Bethesda Maryland. Buyers looking for space, upgrades, and location must see this handsome brick colonial.

This spacious home invites you in with a large welcoming porch. The light hardwood floors playfully bounce light off the neutral colored walls creating a fresh and warm feeling throughout. The main level flows nicely through the living area which features a cozy fireplace and an attractive exposed brick wall.

For the chef in the family the dining and kitchen area are connected and open to a fabulous back porch great for entertaining year round. The kitchen features upgraded stainless appliances, over-sized double tub sink, and a built in wine cooler.

Regardless the size of your family this home has up to 6 rooms that can be used as bedrooms, office space, or hobby spaces. The master bedroom is spacious and pleasantly lit with windows on multiple walls allowing light to pour in. There is an en suite bath in the master featuring granite countertops and a large walk in shower.

Positioned on a ¼ acre lot the outside of this home is just as fabulous! This low maintenance yard has a full sprinkler system and is fenced for privacy and safety.

For everyone in the family this home in Wildwood Manor is walking distance to the tree lined space of Fleming Park, the Wildwood Shopping Center, and Ride-On Metro!

So Buyers looking for a 5BR 3BA Colonial in Wildwood Manor . . . you must see this handsome brick colonial!!

Dana Scanlon - Local Expertise ~ Global Advantage - in MD, DC & VA - 301-575-4915

Voted One of the Best Realtors by the Readers of Bethesda Magazine 2012

What can you buy for $650,000 or less In Bethesda MD?

Thu, 01 Nov 2012 04:46:23 -0700

What can you buy for $650,000 or less In Bethesda MD?

If your goal is to find a home pricedunder $650K in the highly desirable

city of

Bethesda MD

then you have

buying power RIGHT NOW! There are some exciting buying opportunities for $650K or less on the market now. There are currently 12 properties listed as standard sales (not short sales or foreclosures) priced under $650K. These properties are listed for sale in neighborhoods including Ashburton in North Bethesda, Sonoma, and Wyngate.

Whether you are looking to move as soon as possible or just starting your search now is a great time to take action and call me! I’ll facilitate viewings of these properties, and keeping your needs in mind help you to find the right one. If none of these properties is right for you I can also keep you up to date on any future good deals that make it on the market.

Many of these properties feature a minimum of 4 bedrooms and 2+ baths. Most have additional living space in the basement. Other benefits of neighborhoods in the area can include family friendly parks tucked away under the canopy of beautiful trees, short travel time to public transportation and/or the beltway, and most of these properties are within a 10 minute drive to downtown Bethesda.

I keep a close eye on Bethesda home inventory on daily basis. I can help you find the home you are looking for. Whether you are a first time homebuyer or a seasoned real estate investor, I welcome the opportunity to show you what you can buy for $650,000 or less in Bethesda MD.

Dana Scanlon - Local Expertise ~ Global Advantage - in MD, DC & VA - 301-575-4915

Voted One of the Best Realtors by the Readers of Bethesda Magazine 2012

PREPARING YOUR HOME FOR “FRANKENSTORM”

Fri, 26 Oct 2012 13:31:12 -0700

PREPARING YOUR HOME FOR “FRANKENSTORM”

If the storm makes a direct hit on the greater Washington DC area by Halloween, as weather reports suggest, it is possible many of us could be without power for a while, and feel the effects of strong winds driving lots of rain.

Here is a quick tip sheet to prepare for the storm.

If you live in a single family home or townhouse, check all your gutters and downspouts to make sure they are clean and free of debris. Downspouts should be pointing away from the house so your basement doesn’t get flooded.
Rake leaves now from driveways, walkways etc, it’s a lot easier to do before they get wet. Wet leaves will also quickly stain your concrete with leaf mold.
Fill your car with gas, and get a small container filled with gas if you are lucky enough to have a portable generator.
Do have some flashlights and batteries on hand.
Have a plan for basic meals that doesn’t involve power supply. For example, you can use your BBQ, even in the rain! So make sure you have propane.
Set up WIFI tethering with your mobile phone so that you can create an internet hotspot in the event of power loss at home.
Back up your phone and computer contents.
Get a little extra cash, some businesses might lose their credit card processing capabilities
For more thorough preparedness tips go to : www.nhc.noaa.gov/prepare/ready.php

Dana Scanlon - Local Expertise ~ Global Advantage - in MD, DC & VA - 301-575-4915

Voted One of the Best Realtors by the Readers of Bethesda Magazine 2012

Property Values Bethesda MD 20814 September 2012 vs. September 2011

Wed, 17 Oct 2012 07:20:51 -0700

Property Values Bethesda MD 20814 September 2012 vs. September 2011

Property values in Bethesda MD 20814 zip code are on the rise compared with 2 years ago. Here is a market overview and update.

GENERAL

There were 81 new listings this month in 20814. The median home sale price was $647,500, this is a 3.21% decrease from last year’s $669,000. Average price condos sold for increased 4.09% to $352,038.

SELLERS

Closed sales are up almost 20% from last September. However, September 2012 continues the trend of fewer active listings entering the market in 20814. September of last year had 25% more inventory than this September and of these homes the average listing sold 20 days faster than this September.
At first glance . . . Mixed News for Sellers BUT wait . . . of the 32 homes sold in September 9 sold within the first 10 Days on the market at an average of 94.8% of list price!

FINAL SALES PRICE as a % of ORIGINAL LIST PRICE is up 2.05%!

BUYERS

The average price of homes sold is down 21.37% from September 2011. This may be an indicator that homebuyers looking to purchase homes in 20814 on a smaller budget may be able to do so NOW! As a buyer looking at neighborhoods in 20814 now may be a good time to start exploring condos, attached homes, and detached homes on the market.

That's it for this months look at property values in Bethesda MD 20814 property values for September 2012 vs. September 2011.

Dana Scanlon - Local Expertise ~ Global Advantage - in MD, DC & VA - 301-575-4915

Voted One of the Best Realtors by the Readers of Bethesda Magazine 2012

Kensington MD is a great community to live in in Montgomery County!

Sun, 07 Oct 2012 06:17:13 -0700

The town of Kensington, MD is a highly sought after Montgomery County community located just north of Washington D.C. and minutes from Bethesda and Rockville!

!!CLICK HERE FOR VIDEO TOUR!!

Tucked away in a quiet neighborhood of Kensington this spacious 3 Bedroom 3.5 Bathroom home with family room, features a single car attached garage, a rare treat in this area!

The main living level is open and inviting with its beautiful light oak hardwood floors. A few steps up, the upper level has a generously sized master with an upgraded en suite. There are 2 additional bedrooms, another full bath, and lots of closet storage space.

Just a few steps down from the main level this home features additional family living space complete with a fireplace or a private guest retreat with an en suite bath. There is a large office area with natural light pouring in. This walk-out lower level also has a half-bath just off the rear entrance next to the laundry room.

The home is situated on a large corner lot, leading into a private cul de sac. The back yard has a stone patio and a newer spacious storage shed. The side yard has a full size swing set and both the front and side lawn is framed by tall well manicured shrubs giving a sense of seclusion.

The home is within walking distance to Newport Mills Park and the elementary, middle, and high schools. This neighborhood is located just minutes from public transportation (Metro and Marc train), shopping mall, Historic Antique Row, and many other conveniences.

Dana Scanlon - Local Expertise ~ Global Advantage - in MD, DC & VA - 301-575-4915

Voted One of the Best Realtors by the Readers of Bethesda Magazine 2012

Dana's Fall 2012 Calendar of Free Events in DC

Mon, 01 Oct 2012 09:02:50 -0700

Dana's Fall 2012 Calendar of Free Events highlights some of the best events that are free to the public in the Washington DC metropolitan area!

Taste of Bethesda – Oct 6 10-4 - enjoy five stages of live entertainment and visit the kids’ corner for arts & crafts, face painting and balloons, all free. Many Restaurants offer samplers of their enticing menus (tickets for food at 4 for $5). Woodmont Triangle in Bethesda.www.bethesda.org/bethesda/taste-bethesda

Country Steppers Dance Team – Oct 27 2-4pm – watch the official demonstration dance team of N. Virginia Country Western Dance Assoc. The Steppers take country-western dance into the community by demonstrating all aspects of the dance and by teaching the dance basics. National Harbor Plaza, MDnationalharbor.com/event/country-steppers-dance-team/

Orchid Show -Oct 6-7th (10-5), Oct 8th (10-3) - Thousands of orchid plants in bloom, striking displays, expert advice, informative presentations, walk-through tours. US National Arboretum 3501 New York Ave NE , Washington DC http://www.ncos.us/ncos/fallshow.htm

Kids Euro Festival - Oct.17-Nov.13: one of the largest performing arts festivals for children, more than 150 free events around the city. The month-long event will feature artists in every performing genre, ranging from bubble-blowers to a virtual orchestra to storytelling and acrobats:www.kidseurofestival.org

Scary Perry - Every Halloween, the houses on Perry Ave. in Kensington morph into an extravaganza of spider webs, crypts and haunted houses. A spine-chilling, family-oriented block party that attracts thousands each year. Starts on the corner of Perry & Lexington.

U.S. Air Force Band - Oct 12, Oct 26 and Nov 9 Jazz Heritage Series,Lisner Auditorium , GW University, 730 21st St NW - www.USAFBand.af.mil

U.S. Army Band Nov 30 - Dec 2- American Holiday Festival concerts, at DAR Constitution Hall, 1776 D St NW,www.usarmyband.com

Stay tuned for my next calendar of free events in DC!
Dana Scanlon– 301-575-4915 – dana4homes@yahoo.com

Dana Scanlon - Local Expertise ~ Global Advantage - in MD, DC & VA - 301-575-4915

Voted One of the Best Realtors by the Readers of Bethesda Magazine 2012

Looking for Bargain Homes in Bethesda, MD?

Sat, 22 Sep 2012 06:32:28 -0700

Looking for bargain homes in Bethesda, MD? Inventory is limited but there are currently 8 properties listed as Short Sales, and 3 foreclosures this month. Don’t let someone else come in and swoop up these potential deals . . . call me, I’ll facilitate viewings of these properties, and keeping your needs in mind help you to find the right one. I can also keep you up to date on any future good deals that make it on the market. Whether you are a first time homebuyer or a seasoned real estate investor, I can help stretch your dollars to get you the best value.

Why do you need me? Having me as the area expert on your team is invaluable, especially when it comes to non-standard sales! I can save you time, money, and I can keep you informed by sending you a concise list of only bargains that comply with your needs. Anyone can get a good deal when they optimize their resources and recruit a seasoned veteran for their team. Navigating through a short sale or foreclosure takes experience, so contact me today.

Do you want more info on the bargain homes in Bethesda? Affordability and value are not one and the same. A wise homebuyer will proceed with caution. Many of the short sale properties currently on the market in Bethesda are priced below $500K. A handful of these properties are 2 bed and 1-2 bath homes that would be great for small families or as rentals.

Need more space? then check out this one: 9825 Tiffany Hill Ct. #73. This property is listed for $530K and has 4 bedrooms and 3.5 baths, located in the neighborhood of Whitley Park, could this be a bargain in Bethesda worth seeing?

Need a bargain with even more space? There are a few “distress sale” Bethesda single family homes featuring 4-5 bedrooms and 2.5+ baths. These properties range from $656-975K.
I keep a close eye on Bethesda home inventory on daily basis. If you prefer a standard sale, not a distressed property, there are currently 7 single family homes on the market priced under $650,000 and a good selection of townhomes and condos available as well.

Dana Scanlon - Local Expertise ~ Global Advantage - in MD, DC & VA - 301-575-4915

Voted One of the Best Realtors by the Readers of Bethesda Magazine 2012

Bethesda home-owners: Do NOT Let Property Taxes Weigh You Down!

Sat, 22 Sep 2012 06:10:50 -0700

Bethesda home-owners: Do NOT Let Property Taxes Weigh You Down! If you recently received your property tax assessment in the mail and are surprised to see a high increase in valuation, it may be time to appeal your property taxes. There is no reason to pay more taxes than necessary. The tax assessment may be analyzing values in a manner that is not consistent with true neighborhood comparables. So if you make a written appeal, and are successful, that could save you some bucks.

To do so, you will need to prove that the market value of your property is significantly below the assessed value. I can help you determine market value because I can access comparable property sales figures from the last few months which will show the current market value of your property, which is to say recent sales price of similar properties in the same neighborhood. A house near yours may have sold with all new windows, upgraded kitchen and bathrooms, and if yours doesn’t have these features, this may be why the assessment is not accurate.

If you would like a Comparable Market Analysis, I can providethis to you on a complimentary basis. For properties located in Bethesda, Chevy Chase, Kensington, Rockville or Silver Spring, just send me an email, with your property address and your complete contact information. Be sure to include a description of the home's size (number of bedrooms, bathrooms etc), current condition, improvements or upgrades you have made, and I will send you the CMA in a form that you can use for the appeal.

To obtain more information on the appeals process, check out the following web site:
Click here for more information on the appeals process
Click here to obtain a Petition form
I am here to help, so email me today!

Dana Scanlon - Local Expertise ~ Global Advantage - in MD, DC & VA - 301-575-4915

Voted One of the Best Realtors by the Readers of Bethesda Magazine 2012

The 10 major steps to selling your Bethesda home with Dana Scanlon

Sun, 12 Aug 2012 17:00:28 -0700

The 10 major steps to selling your Bethesda home with Dana Scanlon

Its actually more like 100 steps,but in the interest of expediency, I have broken down all the miriad of steps into 10 major categories.And if you don't live in Bethesda, I can do that too!

1. Define your goals, wants, needs and expectations. The consultation: A good place to begin is by exploring your short and long term goals and how selling your home fits in. In other words, we start with listening. During the consultation, we tour your home and make note of its top selling points, features and condition.

2. Determine the best price for what’s going on in the market right now. We assess the current state of the local market and what comparable homes are actually selling for by reviewing a Comparative Market Analysis (CMA) on your home. That way, we can objectively determine its fair market value and price it right.

3. Prepare your property so that it is in top-selling condition. Most of us don’t keep our homes in top-selling condition. I will work with you to help you see things from a buyer’s point of view. I will consult with you on what to repair, replace or remove so that your home makes a great first impression. I can even coordinate the repair work. If necessary, we will bring in a certified home stager. We will make sure your home has maximum curb appeal.

4. Implement time-proven, research-based marketing strategies. Your home will be marketed with a multi-layered marketing plan (signs, quality flyers and virtual tour, open house plan, mortgage calculator, and most importantly syndication on hundreds of web sites) that has the highest potential for bringing not only the most buyers, but also the most qualified buyers to your doorstep.

5. Showing your property. From putting an electronical lock box on your door, to individual showings and the open house plan, I coordinate it all with you. I will advise you on always keep your home in top-selling condition. When you leave for work, make sure that your home remains spic and span with everything in its place.

6. Receive an offer. When a buyer decides to buy your home, an offer will be presented. I will advise you on the offer, the pros and cons and whether the buyer is qualified to purchase your home.

7. Negotiate to sell. Most offers require some level of negotiation. We will work together to decide your parameters and I will negotiate on your behalf.

8. Appraisal and inspection process. Once you have accepted an offer, I will work with the buyer’s agent to coordinate an appraisal, inspections and a survey (if required). Appraisals have become a tricky business, and I work hard to make sure an out of town appraiser understands the singularities of your local market. If the buyer requires that certain repairs be made on your home, following the inspection, I will continue to negotiate on your behalf and recommend vendors so we move successfully from contract to closing.

9. Prepare for closing. A few days before closing (also known as settlement), I will contact the title company and the buyer’s agent to ensure that all the necessary forms and documents have been prepared. I will review the closing documents and let you know what additional forms and information you need to bring to the closing meeting.

10.Close! At the closing meeting, ownership of your property is legally transferred to the buyer. I will be present to double check the Hud-1, advise you and ensure that everything goes according to plan.

Dana Scanlon - Local Expertise ~ Global Advantage - in MD, DC & VA - 301-575-4915

Voted One of the Best Realtors by the Readers of Bethesda Magazine 2012

Enjoy Free Jazz in downtown Bethesda June 30

Tue, 19 Jun 2012 13:39:03 -0700

Enjoy Free Jazz in downtown Bethesda June 30

The Lagond Honors Band, with their eclectic array of songs stemming from the traditions of Cannonball Adderley, Antonio Carlos Jobim, Dr. John, and Outkast, will be entertaining downtown Bethesda shoppers on June 30 with a live concert at Veterans Park, from 11am to 1pm.

The Lagond Honors Band is a group of serious minded, young musicians who bring events to life with Latin, Jazz, and Funk rhythms. From June 30 through July 6, the Lagond Honors Band will be touring the Mid-Atlantic.

The band-leader, Charlie Lagond, is a world-traveled musician who has performed with bands and artists such as Chet Baker, The Temptations, Buddy Rich, Kid Creole and the Coconuts, The Jackson 5 and more. Mr. Lagond co-founded Lagond Music School with his wife ten years ago. Lagond Music is a not-for-profit organization dedicated to music education and live music performance. (Full disclosure: my daughter dates the band’s music instructor, Steven Salcedo, a very accomplished saxophonist, Jazz composer and musician in his own right.)

You can catch the Lagond Honors Band at :

Bethesda FreshFarm Market (Norfolk Ave at Veterans Park, Bethesda, MD) – Saturday, June 30 11:00 am–1:00 pm

http://freshfarmmarkets.org/farmers_markets/markets/bethesda.php

Should you miss their Bethesda performance, head up to Baltimore for the evening

Joe Squared Station North (Baltimore, MD) – Saturday, June 30 7:00-9:00 pm

http://www.joesquared.com/music/station-north/

or find the band playing at any of these venues:

Cape May Convention Hall (Cape May, NJ) – Sunday, July 1 7:30-9:00 pm

http://www.capemaycity.com/Cit-e-Access/webpage.cfm?TID=103&TPID=12613

Somerset Plaza (Ocean City, MD) – Monday & Tuesday, July 2-3 1:00-3:30 pm

http://www.octhebeach.com/Somerset-Street-OC-Boardwalk.html

Wawa Welcome America Festival Multi-Cultural Stage (Philadelphia, PA) – Wed. July 4 4:30-5:30 pm

http://www.welcomeamerica.com/

Independence Visitors Center (Philadelphia, PA) – Thurs. July 5 2:00-4:00 pm

http://www.independencevisitorcenter.com/

The Haven (Elmsford, NY) – Fri. July 6, time TBD

http://www.lagondmusic.org/

Dana Scanlon - Local Expertise ~ Global Advantage - in MD, DC & VA - 301-575-4915

Voted One of the Best Realtors by the Readers of Bethesda Magazine 2012

Free in DC: Summer events in the Metro DC area

Tue, 29 May 2012 12:45:31 -0700

FREE IN D.C.

Free in DC: Summer events in the Metro DC area

A list of some of the best seasonal events that are free to the public in the Washington DC metropolitan area. For a copy of my calendar of year-round free concerts & other cultural events, send me an email.

Youth Art Fair- June 15-8pm 50 artist and over 100 pieces of art and jewelry 22 preformances by 131 performers! Silver Spring Civic Center and Veterans Plaza, One Veteran Place Silver Springs.http://www.nccf-cares.org/events/upcoming-events/

Smithsonian Film Screenings – Korean Film Festival now- June 13 FreerGallery of Art, Independence Ave & 12th St SW Washington, DC http://www.asia.si.edu/events/koreanfilm/default.asp

Strathmore Free Outdoor Summer Concerts – Wednesdays 7pm June-August, all music genres, bluegrass, Irish, Jazz, folk music & morewww.strathmore.org/eventstickets/calendar.asp

Summer Twilight Concert Series at Brookside Gardens –Every Tuesday 6:30-8pm throughout June, come to the Gude Garden for a series of performances set in the beauty of the gardens1800 Glenallan Ave, Wheaton, MD www.brooksidegardens.org

Smithsonian Folklife festival-international exposition of living cultural heritage outdoors on the National Mall, June 27 – July 1 and July 4-8 2012, program commemorating the 150th anniversary of the founding of land-grant universities and the USDAhttp://www.festival.si.edu/visitor/general.aspx

Fourth of July on the NationalMall – 11:45 parade on Constitution Ave NW, 11-5 Smithsonian Folklife Festival, 6:00 p.m. the U.S. Army Concert Band, 8-9:30 National Symphony Orchestra and several pop artists, followed by the fireworks. Note:practice fireworks and concerts take placeJuly 3rd, and are a lot less crowded dc.about.com/od/specialevents/a/4thofJuly.htm

Live military band concerts June-August: the Army, Navy, Marine Corps, and Air Force bands perform on alternating days throughout the summer. Various venues from the U.S. Capitol, Washington Monument Sylvan Theater, to the Navy Memorial dc.about.com/od/concerts/a/militarybandcon.htm

National Philharmonic in Residence at Strathmore Hall - Free for kids age 7-17, tickets must be obtained in person at the ticket office or over the phone 301-581-5100 - 5301 Tuckerman Lane North Bethesda, MD –www.nationalphilharmonic.org

Kenilworth Aquatic Gardens Lotus and Lily Festival – July 21, go early in the day before the heat or you will find the flowers closed. All year around the gardens offer beautiful landscapes. Enter at 1550 Anacostia Avenue, NE, Washington, DC.www.nps.gov/keaq/index.htm

Strathmore Music Hall Lawn outdoor movies series – Mid-August, Bring a blanket and enjoy the show beginning at 8:10 each evening. Gates open at 6:30 p.m., sponsored by Comcast.www.strathmore.org

Dana Scanlon - Local Expertise ~ Global Advantage - in MD, DC & VA - 301-575-4915

Voted One of the Best Realtors by the Readers of Bethesda Magazine 2012

Foreclosures in Bethesda, Short Sales and Bargains!

Mon, 14 May 2012 17:20:27 -0700

Are you looking for a real estate bargain in Bethesda? The search starts here, and with a phone call to me, so I can get you in to see some of these properties. If its a real bargain, it will go fast. But not all foreclosures are bargains. Some of them were just over-priced listings on a busy road, and they have some issue or defect which today's buyers are unwilling to overlook.

There are 2 Bethesda foreclosures listed for sale today (May 14, 2012). They are two Condos listed between 159,000 and 220,000.

In addition, there are 12 properties in Bethesda listed as "short sales" (when the seller is "under water" and doesn't have the cash to make up the difference to the lender). These include 2 luxury single family homes, including atruly unique home with 4 bedrooms and 4.5 bathrooms listed for $2,100,000, and another 6 bedroom 5.5 bath home listed at $1,195,000. There is also a single family home with 6 bedrooms and 5 bathrooms for $899,000. The Bethesda short sales include 7 condos priced from $160,000 to $475,000.

Also, there are a total of 7 single family homes priced under $600,000 currently on the market. In Bethesda, that could be a bargain!

Contact me to review available properties in Bethesda anytime. And stay tuned for updates in this column on future Bethesda foreclosures and possible bargains.

Dana Scanlon - Local Expertise ~ Global Advantage - in MD, DC & VA - 301-575-4915

Voted One of the Best Realtors by the Readers of Bethesda Magazine 2012

OPEN HOUSE BETHESDA MAY 13 1-4PM AN AMAZING HOME

Fri, 11 May 2012 14:42:51 -0700

5BR/3BA Single Family House - Bethesda

OPEN HOUSE 5/13 1-4pm! Rare opportunity to own a mid-century modern gem designed by Lethbridge, nestled in Glen Echo Hts. 5BR 3BA with 3 FPs, dramatic high ceilings & walls of windows overlooking tree tops & sunsets. Nature pours into the living room, den & bedrooms. Big Master w/en-suite BA. Large screened porch. Updates: bathrooms, roof, furnace ('08), HWs, paint in & out ('12). Pool membership conveys. Home warranty included!

Dana Scanlon - Local Expertise ~ Global Advantage - in MD, DC & VA - 301-575-4915

Voted One of the Best Realtors by the Readers of Bethesda Magazine 2012

4740 Connecticut Ave #1005 Washington DC 20008- PRICE DROP

Sat, 05 May 2012 09:21:31 -0700

Dana Scanlon - Local Expertise ~ Global Advantage - in MD, DC & VA - 301-575-4915

Voted One of the Best Realtors by the Readers of Bethesda Magazine 2012

TIME CHANGE - OPEN HOUSE BETHESDA MD APRIL 29 FROM 12-3PM

Fri, 27 Apr 2012 12:11:00 -0700

Dana Scanlon - Local Expertise ~ Global Advantage - in MD, DC & VA - 301-575-4915

Voted One of the Best Realtors by the Readers of Bethesda Magazine 2012

OPEN HOUSE BETHESDA MD APRIL 22 FROM 1-3PM

Sat, 21 Apr 2012 16:58:29 -0700

Dana Scanlon - Local Expertise ~ Global Advantage - in MD, DC & VA - 301-575-4915

Voted One of the Best Realtors by the Readers of Bethesda Magazine 2012

4740 Connecticut Ave #1005 Washington Dc 20008

Wed, 18 Apr 2012 16:52:44 -0700

Dana Scanlon - Local Expertise ~ Global Advantage - in MD, DC & VA - 301-575-4915

Voted One of the Best Realtors by the Readers of Bethesda Magazine 2012

RARE MID CENTURY MODERN GEM Bethesda MD

Wed, 11 Apr 2012 19:04:24 -0700

RARE MID CENTURY MODERN GEM

A rare opportunity to own a mid-century modern gem designed by Francis Lethbridge, in the Potomac Overlook enclave nestled in Glen Echo Heights. 5 bedroom, 3 full baths with 3 fireplaces, dramatic ceiling height, walls of windows overlooking the tree tops and winter sunsets. High cathedral ceilings add to the feeling of space. Amazing upper level living room and den. Master BR with en-suite bath fits king sized bed. Roof replaced in 2009, furnace in 2008, just painted inside and out, upper hardwoods refinished. Updates in bathrooms. Quiet Cul de sac. Membership to Mohican Hills Pool conveys. So close to DC, yet also convenient to 495 and VA.

Carport for 2 cars with storage area

Large screened porch for lazy summer meals

Roof, furnace and bathrooms renovated 2008-2009

Hardwoods refinished 2012

Interior and exterior paint 2012

Pool membership is a big bonus, there are long waiting lists and fees otherwise

Dana Scanlon - Local Expertise ~ Global Advantage - in MD, DC & VA - 301-575-4915

Voted One of the Best Realtors by the Readers of Bethesda Magazine 2012