Showing properties 1 - 8 of 8. See more Bethesda/Chevy Chase - Single Family Homes Under $500K.
(all data current as of 9/2/2010)

1. $475,000 : 6414 Camrose Ter, Bethesda
   
   3 beds, 2 full baths

   Size: n/a

   Lot size: 6,118 sq ft

   Year built: 1954

   Parking spots: n/a

   Walk Score™: 57
2. $510,000 : 9335 Parkhill Dr, Bethesda
   
   6 beds, 3 full baths

   Size: n/a

   Lot size: 9,500 sq ft

   Year built: 1953

   Parking spots: n/a

   Walk Score™: 17
3. $499,900 : 6040 Bradley Blvd, Bethesda
   
   3 beds, 1 full, 1 part baths

   Size: n/a

   Lot size: 9,935 sq ft

   Year built: 1951

   Parking spots: 1

   Walk Score™: 25
4. $499,000 : 6002 Ryland Dr, Bethesda
   
   4 beds, 2 full, 1 part baths

   Size: n/a

   Lot size: 6,110 sq ft

   Year built: 1949

   Parking spots: n/a

   Walk Score™: 32
5. $499,999 : 9802 Raleigh Tavern Ct, Bethesda
   
   4 beds, 3 full baths

   Size: n/a

   Lot size: 10,143 sq ft

   Year built: 1971

   Parking spots: n/a

   Walk Score™: 43
6. $509,900 : 2806 East West Hwy, Chevy Chase
   
   4 beds, 2 full, 1 part baths

   Size: n/a

   Lot size: 5,400 sq ft

   Year built: 1942

   Parking spots: 1

   Walk Score™: 54
7. $525,000 : 2709 East West Hwy Hwy, Chevy Chase
   
   3 beds, 1 full bath

   Size: n/a

   Lot size: 6,600 sq ft

   Year built: 1948

   Parking spots: n/a

   Walk Score™: n/a
8. $484,999 : 2611 East West Hwy, Chevy Chase
   
   3 beds, 2 full baths

   Size: 2,020 sq ft

   Lot size: 6,600 sq ft

   Year built: 1948

   Parking spots: n/a

   Walk Score™: 48

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Our industry received some good news yesterday when the Federal Reserve’s policy making arm said that they have decided to keep short-term interest rates near zero for an “extended period”.  This should help stabilize 30 year fixed rates and keep them at reasonably low levels.    This is great news for all of us because low interest rates will bring new buyers into the market.  It is always nice to hear good news! 

Community Banking Specials (First Place Bank):

- 80/10/10’s available with fixed rate seconds

- Best in the industry group of local appraisers (No 3^rd Party system like the “big banks”)

- In-office underwriting, processing, and closing (The file never leaves Rockville….. closing papers to the settlement table a few days before closing)

- Discounted 30 year fixed rates (upper 4’s / up to $729,750)

***About First Place Bank

First Place Bank is an established community bank new to the MD/ DC/ VA market.  With all the struggles of the “large banks” the community banking model has proven to be much more efficient.  We still offer 80/10/10’s, in-house operations, and have a group of local approved appraisers (no 3^rd party appraisal system).  My entire group made the move to First Place Bank after thirteen years at a large bank mainly because we believe in a higher level of service.  We work with some of the best Realtors in the area and our goal is to create a new, higher standard in the mortgage business.  We think all top Realtors should have a community bank option to rely on.  We are changing the way people think about the mortgage business.  

Call us for the best Bethesda home mortgage rates!

Chad Loube

First Place Bank
Sr. Vice President / Regional Manager
15400 Calhoun Drive Suite 170
Rockville, MD 20855
Phone: (301) 279-5125  Efax: 301-560-6571
Mobile: (301) 452-7399
Email:  CLoube@fpfc.net
Web:    www.FirstPlaceBank.com/ChadLoube

Enter havoc. About 10 days before settlement the lender, a Credit Union, sent a note that sent chills down my spine. Unwarrantable condo. Investor ratios are off, self managed and not enough in reserves. We had already asked these questions to ensure that the investor ratios would work for the lender! The buyer's first choice of lender would only go to a 30% investor ratio and I already knew they were under 50%, but just… So before even going down that route, I had asked the condo association if they had any unpaid condo fees, if their reserves were in line and their exact investor ratio.

But now I realize it's not enough. Now we have to know how many second home owners there are and more importantly, how any particular lender is going to interpret that info. Because our problem stemmed from 8 second home owners who were counted as investors by that lender. Yikes. There went our 50% investor ratios. 

The credit unions do vanilla. They do vanilla fine but if there are any issues beyond that they simply cannot adjust since it's not what they are set up for.

Hence, we quickly had to go to the third lender to see if they had an exception process we could use. Between BB&T and Prosperity they both felt they could get the loan through but since the rate was great and Prosperity could close on the day we originally scheduled (only 10 days in the future) we were dancing! And we danced up until 5:00 pm on the night before settlement, scheduled for 8 am the next morning, when the condo exception dude in CA said, "nope." He didn't like the reserves which were not as much as he wanted to see for a building of this age. The underwriter had been fine with the reserves since I'd been insistent on asking before we progressed to spinning money. OMG.

The sellers had bought another house with a coinciding settlements contingency, which was very smart. The seller of the house they bought didn't seem to understand that risk and had already moved out to their new house!  Imagine their utter shock when they were told their home wasn't going to settle.  So we had lots at stake with this first leg in the chain. And our buyers and sellers were all calling us to figure out what to do. At that point we were ready to admit defeat and had my buyers sign a release since it just wasn't going to go through. Sellers were out of town and didn't sign right away. And then yet another miracle…. the lender here went back to the condo association and got more data on their budget which allowed her to put it back through the exception process and it got approved!

The condo in Bethesda at the Crescent Plaza is in fabulous shape and the building is one of the best managed I've seen. Their reserve drama stemmed from how they had spent some money on upgrades that saved energy and were wise choices but didn't put the right numbers on the books. Had it been they were not so well managed, my buyers rightly should have taken this as a sign to bail, but there were not any other condos they liked so well as this one. Condo fees are low, location is to die for, condition is superb and renters just love the Metro access. And who wouldn't love walking out to shops and restaurants any night of the week!

So lesson learned: even more questions up front!

1) How many investors exactly are in the building?

2) Does any one person own multiple units?

3) How many second home owners are there?

4) Anyone not up to date on their condo fees?

5) What is the % amount of reserves?

6) What is the $$ of reserves?

7) How much distress in the building?

 - FHA approved building?

The problem with getting the answers to these questions is it's very difficult. They condos don't want to answer questionnaires until they are sent from a bank with a fee. At this point, I think it's a wise investment to pay the money they want, get the answers and then make sure the lender can lend based on the answers BEFORE starting the process. Whether listing or helping buyers we need to know the info before hand to avoid the disastrous unraveling of real estate that could have happened but for the tenacity of two agents and Karen Van Zandt from Prosperity in Bethesda!

So when you happen upon my newest listing that will be coming up at The Iowa in DC or perhaps another condo in Bethesda, don't be surprised if before we take your contract we want to know if your buyer's lender will have any heartburn over any of the provided answers!  And if you are thinking about buying a condo in Bethesda, I'm happy to help…

I heard a friend say recently that she didn't understand why her neighbor's house had not sold. After all, they went with the Realtor who gave them the highest price.  Said just like that.  Never once crossed  her mind how inconsistent with success that was and she had no understanding whatsoever that her neighbor was likely "bought" with a too high price that the agent knew he couldn't bring in.

Thus the head banging.  How do I counter the assumption that people have that we as agents are going to get you more than your house is worth?  The market dynamics are what they are and the true competence any seller should be seeking is to find someone who understands that market with a keen sense of buyer urgency, has a marketing plan that includes many creative ways to get your house in front of buyers and a good grasp of  the current financial climate. 

You are not selling your house to the highest bidding real estate agent.  I'm going to repeat that.  You are not in a bidding war with real estate agents.

But you are in a war with other sellers to compete for the same pool of buyers.  And that is the critical role of a really good listing agent:  to bring the market to you.  The most market possible so a probable buyer will surface and buy your house. That buyer is going to set the final price for your house if you decide to take it.  Not the listing agent!!

I experienced this recently with sellers who interviewed me to sell their home but wouldn't tell me what they thought it was worth or what they were considering selling it for.  They said they really liked me and wanted to go with me "based on the price I gave them."

That head banging thing again…

No matter how many times I said it was like playing Pin the Tail on the Donkey to find the right price at which they'd hire me, they never saw the error of their ways.  Or maybe they did and just thought that if they kept up the search they'd find someone who would do a CMA and come up with the elusive price they were looking for.

Seriously, how can anyone expect a professional to work like this?  And how easy do you think it would have been for me to say  because I have such a good marketing plan, I'm sure I'll be able to get you $1.2M for your home, when I knew it would likely sell for no more than $1M.   They would have signed an exclusive listing agreement with me so fast, but before the ink was dry we'd be talking about how the market wasn't responding and they'd have to think about a price reduction to get sold.

There was an agent in this particular market who very likely would do exactly what they thought they wanted.   They have no way to connect the dots and know the postcard they received from the agent touting her success at selling another home in their neighborhood, did so with 485 days on market and a 20% reduction from the original price to the sold price.  That was a painful process for the seller and one that could have been avoided if they had listened and chosen the agent who could help them:

1) Get the home in the best condition and get excellent photography in place

2) Understand the market pricing and help them price with their motivation and needs in mind but with the fundamental reality that the buyers would set the final pricing

3) Market the house with more than just the local MLS in mind.  The house needs to be marketed all over the Internet so there is widespread coverage that brings in the buyers who are relocating as well as any local buyers.

4) Help them get out of their own way so they can successfully sell their home and get on with the next phase of their lives

I fully understand the lure of that high price someone gives you.  It's like the siren song that reels you into the rocks…  As a seller you need to remember that your focus is on hiring someone who can back up the recommended pricing and get your house sold.  Just because you can throw a rock and find someone who will tell you what you want to hear is not reason enough to hire them for one of the most important transactions in your life.

Showing properties 1 - 28 of 28. See more Bethesda - Under $700K.
(all data current as of 9/2/2010)

1. $630,000 : 6109 Melvern Dr, Bethesda
   
   4 beds, 1 full, 1 part baths

   Size: n/a

   Lot size: 8,970 sq ft

   Year built: 1952

   Parking spots: n/a

   Walk Score™: 31
2. $510,000 : 9335 Parkhill Dr, Bethesda
   
   6 beds, 3 full baths

   Size: n/a

   Lot size: 9,500 sq ft

   Year built: 1953

   Parking spots: n/a

   Walk Score™: 17
3. $589,000 : 9602 Page Ave, Bethesda
   
   4 beds, 2 full baths

   Size: n/a

   Lot size: 7,200 sq ft

   Year built: 1948

   Parking spots: n/a

   Walk Score™: 49
4. $689,900 : 9110 Bulls Run Pkwy, Bethesda
   
   4 beds, 2 full, 1 part baths

   Size: n/a

   Lot size: 8,555 sq ft

   Year built: 1957

   Parking spots: n/a

   Walk Score™: 25
5. $635,000 : 6609 Lone Oak Dr, Bethesda
   
   4 beds, 3 full baths

   Size: n/a

   Lot size: 10,860 sq ft

   Year built: 1962

   Parking spots: 1

   Walk Score™: 72
6. $699,000 : 8216 Stone Trail Dr, Bethesda
   
   4 beds, 3 full baths

   Size: n/a

   Lot size: 18,110 sq ft

   Year built: 1967

   Parking spots: n/a

   Walk Score™: 34
7. $659,000 : 4503 Traymore St, Bethesda
   
   4 beds, 3 full, 1 part baths

   Size: n/a

   Lot size: 8,282 sq ft

   Year built: 1955

   Parking spots: 1

   Walk Score™: 34
8. $499,000 : 6002 Ryland Dr, Bethesda
   
   4 beds, 2 full, 1 part baths

   Size: n/a

   Lot size: 6,110 sq ft

   Year built: 1949

   Parking spots: n/a

   Walk Score™: 32
9. $624,900 : 6021 Kingsford Rd, Bethesda
   
   4 beds, 2 full, 1 part baths

   Size: n/a

   Lot size: 9,941 sq ft

   Year built: 1957

   Parking spots: n/a

   Walk Score™: 35
10. $675,000 : 6208 Yorkshire Ter, Bethesda
    
    4 beds, 2 full, 1 part baths

    Size: 2,872 sq ft

    Lot size: 10,655 sq ft

    Year built: 1968

    Parking spots: 2

    Walk Score™: 71
11. $599,900 : 9803 Singleton Dr, Bethesda
    
    5 beds, 2 full, 2 part baths

    Size: n/a

    Lot size: 8,400 sq ft

    Year built: 1959

    Parking spots: 1

    Walk Score™: 37
12. $665,000 : 5603 Grosvenor Ln, Bethesda
    
    4 beds, 3 full baths

    Size: 2,250 sq ft

    Lot size: 8,538 sq ft

    Year built: 1955

    Parking spots: 1

    Walk Score™: 46
13. $499,999 : 9802 Raleigh Tavern Ct, Bethesda
    
    4 beds, 3 full baths

    Size: n/a

    Lot size: 10,143 sq ft

    Year built: 1971

    Parking spots: n/a

    Walk Score™: 43
14. $650,000 : 7716 Beech Tree Rd, Bethesda
    
    5 beds, 4 full baths

    Size: n/a

    Lot size: 10,144 sq ft

    Year built: 1958

    Parking spots: n/a

    Walk Score™: 26
15. $625,000 : 5813 Jarvis Ln, Bethesda
    
    5 beds, 3 full baths

    Size: n/a

    Lot size: 8,420 sq ft

    Year built: 1952

    Parking spots: n/a

    Walk Score™: 38
16. $680,000 : 9309 Parkhill E Dr, Bethesda
    
    5 beds, 3 full baths

    Size: n/a

    Lot size: 8,750 sq ft

    Year built: 1955

    Parking spots: n/a

    Walk Score™: 25
17. $699,000 : 9823 Singleton Dr, Bethesda
    
    5 beds, 3 full baths

    Size: 2,752 sq ft

    Lot size: 8,400 sq ft

    Year built: 1958

    Parking spots: 1

    Walk Score™: 35
18. $625,000 : 9508 Old Georgetown Rd, Bethesda
    
    4 beds, 2 full baths

    Size: n/a

    Lot size: 7,196 sq ft

    Year built: 1956

    Parking spots: n/a

    Walk Score™: 29
19. $695,000 : 9911 Old Georgetown Rd, Bethesda
    
    4 beds, 3 full, 1 part baths

    Size: n/a

    Lot size: 9,787 sq ft

    Year built: 1953

    Parking spots: n/a

    Walk Score™: 58
20. $699,000 : 9631 Alta Vista Ter, Bethesda
    
    4 beds, 3 full baths

    Size: n/a

    Lot size: 8,490 sq ft

    Year built: 1957

    Parking spots: 1

    Walk Score™: 34
21. $688,500 : 8000 Beech Tree Rd, Bethesda
    
    4 beds, 3 full baths

    Size: n/a

    Lot size: 10,699 sq ft

    Year built: 1959

    Parking spots: 1

    Walk Score™: 14
22. $625,000 : 9212 Ewing Dr, Bethesda
    
    4 beds, 2 full baths

    Size: n/a

    Lot size: 6,600 sq ft

    Year built: 1949

    Parking spots: n/a

    Walk Score™: 26
23. $619,900 : 9708 Bellevue Dr, Bethesda
    
    5 beds, 3 full baths

    Size: n/a

    Lot size: 9,083 sq ft

    Year built: 1950

    Parking spots: 1

    Walk Score™: 34
24. $659,000 : 8911 Ewing Dr, Bethesda
    
    4 beds, 2 full, 1 part baths

    Size: 2,075 sq ft

    Lot size: 10,369 sq ft

    Year built: 1948

    Parking spots: n/a

    Walk Score™: 25
25. $649,000 : 6202 Greentree Rd, Bethesda
    
    4 beds, 2 full baths

    Size: n/a

    Lot size: 6,972 sq ft

    Year built: 1947

    Parking spots: 1

    Walk Score™: 17
26. $699,000 : 6204 Hollins Dr, Bethesda
    
    4 beds, 2 full, 1 part baths

    Size: n/a

    Lot size: 8,275 sq ft

    Year built: 1959

    Parking spots: 1

    Walk Score™: 35
27. $699,000 : 7513 Nevis Rd, Bethesda
    
    4 beds, 3 full baths

    Size: n/a

    Lot size: 13,315 sq ft

    Year built: 1954

    Parking spots: 1

    Walk Score™: 14
28. $650,000 : 5920 Greentree Rd, Bethesda
    
    5 beds, 4 full, 1 part baths

    Size: n/a

    Lot size: 8,620 sq ft

    Year built: 1954

    Parking spots: n/a

    Walk Score™: 25

Listing information deemed reliable but not guaranteed. Read full disclaimer.