Mar15

Safe Lead Removal Practices

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Homes built in Bethesda before 1978 may contain lead paint. In the intervening years many coats of paint may have been layered over the original but the risk of dust particles remains, especially when you begin renovation projects.

Common renovation activities like sanding, cutting, and demolition can create hazardous lead dust and chips by disturbing lead-based paint, which can be harmful to adults and children. 

To protect against this risk, on April 22, 2008, EPA issued a rule requiring the use of lead-safe practices and other actions aimed at preventing lead poisoning. Under the rule, beginning in April 2010, contractors performing renovation, repair and painting projects that disturb lead-based paint in homes, child care facilities, and schools built before 1978 must be certified and must follow specific work practices to prevent lead contamination.

If you are beginning a project for any real estate in Bethesda or the surronding area ensure your contractor is aware of the laws requiring safe lead removal.

 

For full story:  http://www.epa.gov/lead/pubs/renovation.htm

Posted in Buying A Home, Inspections
Mar7

How to Sell Your Home in a Short Sale

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Navigating Short Sales: What to Do When the Sale Price Leaves You Short

1. Consider loan modification first. If you are thinking of selling your home because of financial difficulties and you anticipate a short sale, first contact your lender to see if it has any programs to help you stay in your home. Your lender may agree to a modification such as: 
 
  • Refinancing your loan at a lower interest rate
  • Providing a different payment plan to help you get caught up
  • Providing a forbearance period if your situation is temporary
 When a loan modification still isn’t enough to relieve your financial problems, a short sale could be your best option if 
 
  • Your property is worth less than the total mortgage you owe on it.
  •  You have a financial hardship, such as a job loss or major medical bills.
  • You have contacted your lender and it is willing to entertain a short sale. Read more…
Posted in Selling Your Home, Short Sales
Mar6

4432 Brandywine Street, NW, Washington, DC 20016

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Open Sunday 3/7/10 from 1-4!

This adorable home is beautifully presented and is already attracting a lot of attention.  Make sure to stop by the open house to see the renovated gourmet kitchen and terrific finished lower level.  Click on the tour below to see what the buzz is all about…  As you can see by the search map below, the inventory is very scarce right now so homes are going quickly in AU Park.

 

Play VisualTour

  Read more…

Posted in Buying A Home
Feb18

What can you buy for over $2M in Bethesda zip code 20816?

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Bethesda Real Estate and Bethesda Homes for Sale

Bethesda real estate and Bethesda homes for saleBethesda is home to a wide variety of housing styles and single family homes in this price range are available in many but all of the neighborhoods.    In this price range there will  be significant upgrades and renovations to the basic space, the kitchen and bathrooms or it was likely a tear down of the original.  the sales in 2009 were completely new homes with the exception of the >$4M sale on MacArthur, which is an exceptional lot with killer views of the river!

2009:

For zip code 20816 in Bethesda the total sales in this price range accounted for only 2% of the market in 2009 (out of 173 sales) and accounted for 5% of the total sales volume (out of $167,122,628). 

The sellers got to keep 87% of their asking price on average.  But that is a little deceptive:  one of the homes was a new build from a custom builder so it never hit the market.  One was a contemporary that had been overpriced from the beginning but a very cool house.  And the last was a lot.  Still all in all there is room for negotation at this price range.  Read more…
Posted in Bethesda 20816, Buying A Home, Market Reports, Selling Your Home
Feb18

What can you buy for 1.5M- $2M in Bethesda zip code 20816?

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Bethesda Real Estate and Bethesda Homes for Sale

Bethesda real estate and Bethesda homes for saleBethesda is home to a wide variety of housing styles and single family homes in this price range are available in many but all of the neighborhoods.    In this price range there will  be significant upgrades and renovations to the basic space, the kitchen and bathrooms.  Many were tear downs from the original home.

2009:

For zip code 20816 in Bethesda the total sales in this price range accounted for only 6% of the market in 2009 (out of 173 sales) and accounted for 10% of the total sales volume (out of $167,122,628). 

The sellers got to keep 89% of their asking price on average.  No homes sold for 100% of their asking price and 5 had at least one price reductions and fairly significant days on market.  Financing is much more difficult in this price range and will delay the sale.  There are only so many buyers who can afford this pricing so the buyer pool shrinks significantly. Read more…
Posted in Bethesda 20816, Buying A Home, Market Reports, Selling Your Home
Feb18

What can you buy for $1.25M – $1.5M in Bethesda zip code 20816?

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Bethesda Real Estate and Bethesda Homes for Sale

Bethesda real estate and Bethesda homes for saleBethesda is home to a wide variety of housing styles and single family homes in this price range are available in many but all of the neighborhoods.    In this price range there will likely be upgrades and renovations to the basic space, the kitchen and bathrooms.

2009:

For zip code 20816 in Bethesda the total sales in this price range accounted for 10% of the market in 2009 (out of 173 sales) and accounted for 14% of the total sales volume (out of $167,122,628). 

The sellers got to keep 92% of their asking price on average.  There were homes that sold for 100% of their asking price but the larger majority of them had price reductions and fairly significant days on market.  The fact that they were over $1M meant finance issues might be a factor for the buyer pool but even so when they were priced correctly they sold quickly and for 100%, or  very close to it of their asking price. Read more…
Posted in Bethesda 20816, Buying A Home, Market Reports, Selling Your Home
Feb18

What can you buy for $1M – $1.25M in Bethesda zip code 20816?

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Bethesda Real Estate and Bethesda Homes for Sale

Bethesda real estate and Bethesda homes for saleBethesda is home to a wide variety of housing styles and single family homes in this price range are available in many but all of the neighborhoods.    In this price range there will likely be upgrades and renovations to the basic space, the kitchen and bathrooms.

2009:

For zip code 20816 in Bethesda the total sales in this price range accounted for 16% of the market in 2009 (out of 173 sales) and accounted for 19% of the total sales volume (out of $167,122,628). 

The sellers got to keep 92% of their asking price on average.  There were homes that sold for 100% of their asking price but many of them had price reductions and fairly significant days on market.  The fact that they were over $1M meant finance issues might be a factor for the buyer pool but even so when they were priced correctly they sold quickly and for 100%, or  very close to it of their asking price. Read more…
Posted in Bethesda 20816, Buying A Home, Market Reports, Selling Your Home
Feb18

What can you buy for $750K-$1M in Bethesda zip code 20816?

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Bethesda Real Estate and Bethesda Homes for Sale

Bethesda real estate and Bethesda homes for saleBethesda is home to a wide variety of housing styles and single family homes in this price range are available in most  neighborhoods. 

2009:

For zip code 20816 in Bethesda the total sales in this price range accounted for 32% of the market in 2009 (out of 173 sales) and accounted for 29% of the total sales volume (out of $167,122,628).  This is a price range that is very competitive and if the condition is good these houses tend to get scooped up quickly. Read more…
Posted in Bethesda 20816, Buying A Home, Market Reports, Selling Your Home
Feb12

What can you buy for $500K-$750K in Bethesda zip code 20816?

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Bethesda Real Estate and Bethesda Homes for Sale

Bethesda real estate and Bethesda homes for saleBethesda is home to a wide variety of housing styles and single family homes in this price range are available in most  neighborhoods.  The homes won’t be large or new but many of them are typically 3 – 4 bed/2 bath houses.

2009:

For zip code 20816 in Bethesda the total sales in this price range accounted for 32% of the market in 2009 (out of 173 sales) and accounted for 22% of the total sales volume (out of $167,122,628).  This is a price range that is very competitive and if the condition is good these houses tend to get scooped up quickly. Read more…
Posted in Bethesda 20816, Buying A Home, Market Reports, Selling Your Home
Feb10

What can you buy for under $500,000 in Bethesda zip code 20816?

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Bethesda Real Estate and Bethesda Homes for Sale

Bethesda real estate and Bethesda homes for saleBethesda is home to a wide variety of housing styles, from modest 2 bedroom homes to multi-million dollar renovations or tear downs. Close in downtown living, with Metro access and lively shopping or urban, tree lined streets with neighborhood schools and older homes.  

But single family homes under $500,000 are difficult to find!  As you can see by the chart below they  only make up 1-2% of the total units sold and of the total sales volume for the year.  There are a few, and they tend to be clustered in either the neighborhoods close to Western Avenue or off Old Georgetown Road closer to the Beltway.  If you don’t mind a smaller home, you can still have the great schools and other fine amenities that Bethesda brings. If the lot will suport a bigger home, you might look at a tear down but at this price point the lot is not going to be very big and with the building restrictions governing how much of the lot a home can take up, it’s harder to build a large house on a 5000 sq ft lot. 

Many of these homes are perfectly sized for the move down buyer who doesn’t want the fees of a condo or still wants a bit of yard to mind.  For them a two bedroom home in a close in location is a little bit of heaven!  Read more…
Posted in Bethesda 20816, Buying A Home, Market Reports, Selling Your Home