maryland: Get Ready — This is Not Your Usual Spring Market!
- 03/23/12 12:30 AM
It’s Going To Be More Active Spring is officially here. Buyers and sellers are ready once again to participate in the most active home market period of the year. Sellers have painted everything inside and out and finished mulching their garden beds. Buyers have drafted their wish lists, review their favorite real estate websites daily (or more frequently) for new listings, and are armed with their lender pre-approval letters. Here is a great window of opportunity. Know that this not your normal Spring Market. Things are different: Buyers have been out for weeks in the warmer-than-usual weather. Interest rates are … (3 comments)
maryland: House Prices: Where They Will Be in the Spring
- 11/30/11 04:07 AM
(Reprinted from The KCM Blog, October 2011. Disclaimer: This blog covers the national housing market as a whole. Please check with a local real estate professional to discover how the following information will impact your region. – The KCM Crew.) Hill's Comment: While the recent S&P/Case-Shiller Index data reflect an overall slight increase in Washington area house prices, this goes against the nationwide trends, in which residential real estate prices dropped more than forecast in the year ended September. Prices rose and sales volume is highest in price ranges that meet the broadest market, the lower ranges. Upper bracket properties prices are … (0 comments)
maryland: "The Waterford" Limited Edition Luxury Residence
- 05/23/11 05:04 AM
A Private Estate Home in Bethesda, MD (SOLD!) "The Waterford" 7220 Armat Drive, Bethesda, Maryland 20817 Offered for $1,855,000 This luxury estate residence blends classic materials in a traditionally elegant yet very practical and comfortable home. Key features include paneled library/study, elevator, in-ground heated pool with sub-meter, and five fireplaces. Multiple French doors lead to sunlit patios and mature gardens, which enjoy a warm Southern exposure for outdoor living and social events. The highlights of the finished ground level are a wine cellar and reception hall, bar and family room, and a large area suitable for home theater or casual entertaining. The … (1 comments)
Market Summary The Washington, DC real estate market had an exceptional first half of 2010 with combined sales of single-family homes, condominiums, and cooperatives up 36% at the end of the second quarter. That pace did not continue and the increase dwindled to 3% by the end of December. The single-family market ended the year in much stronger position than the condo/co-op market with an 11% increase sales and just over 4 months worth of inventory. Condo/co-op sales ended with a 6% loss and over 6 months of … (0 comments)
maryland: Winter Preparations Checklist for Homes on the Market
- 12/20/10 01:20 AM
Owners' Continuing Responsibility for Snow/Ice Removal With the arrival of Winter this coming week and the surprise snowfall we had last week, it is time to complete your winter preparations, if you have not done so already. These are particularly important if you have a home listed for sale that is vacant or you are going to be away for part of the holidays. A Quick Checklist: If your listed property is vacant: Have someone lined up to shovel snow promptly: Clear snow and ice for access from the street - driveways, paths, and walks Snow-covered and icy walks may present … (3 comments)
maryland: Washington DC: Sellers Experiencing Both Competition and Frustration
- 11/09/10 03:14 AM
Third Quarter 2010 Report: Stable Prices and Lower Inventories Market Summary This has been a frustrating market for many buyers, sellers, and real estate professionals. Buyers in certain price ranges and neighborhoods are finding heavy competition and multiple offers on well-priced homes, while certain sellers are suffering through months on the market without an offer or serious interest. The third quarter statistics show a 21% decline from Q3 2009; but with the strong first half of the year, year-to-date sales are still up by 14% over 2009. Initially it was unclear whether the expiration of the Federal Tax Credit for … (0 comments)
Clients are asking, "Should I put my house on the market now, or should I wait?" and "Should I buy now, or should I wait?" What about Thanksgiving, the Holiday season, or New Year's? What about buyer interest and showings and open houses? Why not wait? It's November. Prices have stabilized. Inventories have come down in many areas. Interest rates are at historic lows. Financing has become more readily available. Sellers planning to also buy can get more house for their money now than before. Sellers who price not only competitively but also compellingly are successfully setting … (5 comments)
10209 Gary Road, Potomac, Maryland 20854 Offered for: $849,000 MRIS #MC7428778 This very well-cared for home is conveniently located in a close-in an established Potomac Village neighborhood which also includes several large upper-bracket properties. It is a beautifully refinished four-bedroom, two full bath and one-half bath split-level home on five levels. The large lot (27,000 sq. ft.) has an open rear lawn area which backs to a wooded lot for added privacy and room to expand! This home is less than ½ mile of Potomac Village, with shops, drug stores, banks, restaurants, markets, and other … (1 comments)
maryland: THE Single Most Important Piece of Information to both Sellers and Buyers
- 09/19/10 03:42 PM
Price - For a Listing and for a Contract of Sale. Sellers and buyers both rely on their agent's expertise and research to help them understand today's market and what are reasonable price expectations. A wrong price can kill a listing or a deal. This single factor is so important. An agent who tries to "buy" a listing by providing or acceding to a seller's unreasonably high price expectations is not helping his client. Pricing high can negatively impact the house's real value, and can damage the agent's standing in the community.
I spend hours on research and data analysis … (0 comments)
maryland: Picking a Real Estate Agent?
- 09/19/10 03:18 PM
Seven Exceptional Attributes to Look For Finding an excellent real estate agent or Realtor® can be a challenge. There are many to choose from and they all appear eager to help you. But how do you know which will serve your interests and help you best? There are so many to choose from - but how do you narrow your choices? Refine your search. Among the many qualities you want to see, consider these too:: All Realtors® are agents; not all agents are Realtors®. There is a distinction. A Realtor® is a member of the National Association of Realtors (NAR), the … (1 comments)
maryland: Several Washington DC Areas Among “Best” Places
- 07/17/10 11:00 PM
Maryland and Virginia Among Highest for Technology, Business Friendliness CNN Money.com and CNBC.com just released their 2010 lists - Top Earning Towns, Best 100 Small Cities to Live,and CNBC for Top States for Business- and The Washington Post announced the area's education level. Bethesda, MD has the highest median family income in the US, according to CNN Money.com. Ellicott City/Columbia, Maryland is named by a CNN survey as #2 Best Small City to Live in the country, up from #8 in 2008, with its grand homes, a lovely 18th-century downtown, lots of restaurants, wide range of housing, tons of parkland, and a … (4 comments)
maryland: HVCC, HERA Disclosure Timeframes Slow Closing Process, Ensure Accuracy
- 07/28/09 07:58 AM
To Discourage Rush Closings, Reduce Last Minute Rescues, and Cut Down Closing Table Changes Both buyers and sellers need to be aware of the changes brought about by the HVCC (see article below) and the Housing and Economic Recovery Act (HERA), which goes into effect July 30, 2009. HERA is intended to better inform the consumer, slow down the settlement process, and ensure more accuracy and transparency in the lending terms. HERA requires that a lender must provide two initial disclosures to the customer -- the Truth in Lending (TIL) statement and the Good Faith Estimate -- before the lender can … (3 comments)
maryland: FHA 203K Renovation Loans: Buy AND Renovate with One Loan!
- 07/13/09 08:58 PM
Available for ANY Home at ALL Income Levels How do you buy a house in need of repair and finance the repairs all at the same time? Most mortgage financing plans provide only permanent financing. That is, the lender will not usually close the loan and release the mortgage proceeds unless the condition and value of the property provide adequate loan security. When rehabilitation is involved, this means that a lender typically requires the improvements to be finished before a long-term mortgage is made. A high cost interim loan is often used to finance repairs or renovations. Now there is an … (0 comments)
maryland: Smooth vs. Quick Settlements under HVCC
- 07/13/09 05:34 AM
What the Home Valuation Code of Conduct (HVCC) Means to You Both sellers and buyers must be aware of the Home Valuation Code of Conduct (HVCC) legislation recently enacted in response to the mortgage crisis brought on by lenders who took unacceptable risks. This is a legislative effort to create consistent business practices among lenders and to protect consumers. There are new timeframes regarding appraisals and underwriting, and my efforts are to ensure my clients a smooth settlement in a complex process, as we can no longer expect expedited settlement or appraisal processing. HVCC went into effect May 1, 2009. The … (0 comments)
We are two-thirds of the way through of the 2009 Spring Market, and we have had a roller-coaster of regional activity - some areas have popped up in sales, others suddenly are flat - on both sellers' and buyers' sides. The news on the economy swings daily from good to bad to good. Nevertheless, I have more successful sales transactions! The popular price ranges of interest have dropped some 20%, and sometimes more, depending on the location. Real estate is local. For my clients, the real bottom line has been … (0 comments)
maryland: Short Sales, Foreclosures, and REO properties
- 05/30/09 01:39 PM
Yes, we are handling more of these transactions in our office now than ever before. I am finding myself more frequently in conversations with clients regarding the matter of foreclosures in our area. They believe that the correction in the economy will necessarily generate more of these in the closer-in Washington Metropolitan region. I have access to a database that provides reliable information on foreclosure properties. This information is from a separate information source and not derived from the MLS listings. What does this mean to you? If you are planning to sell, I will check if any homes in your neighborhood are in … (0 comments)
General views on the real estate environment in the Greater Washington, DC Metropolitan area:
Bethesda
Chevy Chase
Potomac
Kensington
Spring Valley
Wesley Heights
American University Park
Glover Park
Cleveland Park
Washington
Alexandria
Arlington
McLean
Falls Church
Northern Virginia
Southern Maryland
www.HillSlowinski.com
It’s Going To Be More Active 
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