August 2009
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Nalls Home Partners
E-Newsletter
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August 2009 |
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Dear Nalls Home Partners Clients, Friends and Family:
Business is great - THANKS!
If our own business is any indication of the direction the market is heading, then the emerging reports of economic recovery are right on the mark. We are on track to have another excellent year with over 15 million in sales already on the books and lots of late summer and fall business lining up. Our inventory is down a bit from a high of 16 active listings in May (and lots of late nights at the office taking care of them) to 4 going into Labor Day. Four great listings coming soon too: a renovated one bedroom in Colonial Village, Arlington; a gorgeous three bedroom in Kenwood Forest, Bethesda; a horse farm on 6 acres in Upper Marlboro and a classic Sumner colonial in Bethesda.
We have had our share of buyers too - in nearly every price range and neighborhood from Northern Virginia, to Fredrick County throughout Montgomery County and into DC. Settling clients into a new home is always and still - after all these years - a real pleasure. It is one of the nicest parts about being a Realtor.
Of course every bit of it is thanks to all of you and your referrals. We appreciate your confidence in us and will always give every one you refer our very best personal service. It is a pleasure to work with all of you, your friends and family.
Barbara and Tom Nalls
Long and Foster Real Estate, Inc
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Strong Gain in Existing-Home Sales
Maintains Uptrend
Information provided by the National Association of Realtors
For the first time in five years, existing-home sales have increased for four months in a row, according to the National Association of Realtors®. The last time sales rose for four consecutive months was in June 2004, and the last time sales were higher than a year earlier was November 2005. Existing home sales including single-family, townhomes, condominiums and co-ops - rose 7.2 percent.
Lawrence Yun, NAR chief economist, said he is encouraged. "The housing market has decisively turned for the better. A combination of first-time buyers taking advantage of the housing stimulus tax credit and greatly improved affordability conditions are contributing to higher sales".
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Regional Sales Trends
Sales Trends for the Month of July
Contracts Ratified Per Month
(information from GCAAR)
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What's Your Home "Worth"?
With the upturn in the local real estate market - and it is BUSY out there, let me tell you - we are getting lot's of calls asking us "what's our house worth?" A variation on that theme are the buyers that, having seen a property that catches their fancy, will take a look at the list price and then ask us "what do you think it's really worth"
"Well," I say, "you're the one that lives there, you tell me!"
Of course, I know that what they are really asking for is a dollar figure of fair market value because they are thinking about putting theirhome on the market (or refiancing or fighting an assesment, and we are here for that too!) And buyers are always right to evaluate past sales when considering an offer. No one wants to pay more than they have to for a home.
But sometimes in their zeal to take advantage of market conditions, buyers and sellers miss the most important aspect of a home sale - how does the property fit your personal needs? So when a seller says "I think it is a good time to sell" we always do a needs assesment to make sure that they really have "outgrown" their home or that downsizing makes sense. And the first question we ask is 'do you like living here?' When a buyer tries to decide between potential properties, we always try to find the one that makes sense first, and look at the "deal" second. After all, actually living in a house that is too large/small or in an inconvenient location for your family doesn't feel like a very smart choice a year later, regardless of what a steal it might have been at the time.
So, just a reminder, as we head into what is sure to be a very brisk Fall market: we are here to help with both the dollars and the SENSE of your next home purchase or sale. Call us any time!
Barbara and Tom Nalls
Long and Foster Real Estate, Inc
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15105 Poplar Hill Road, Germantown MD
$1,299,000
ELEGANCE DEFINED! The original model for Spring Meadows featuring all that you would expect from Miller plus an enormous absolutely state of the art modern kitchen addition. Huge room sizes, 3 beautifully finished levels, glorious landscaping, fabulous flow for entertaining, truly too much to say.
Click Here for a Virtual Tour
Estimated property taxes and non-tax charges in the first full fiscal year of ownership is:$13,838.90
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7204 Loch Lomond Drive, Bethesda MD
$1,649,000
An entertainers dream home with almost 9,000 sq. ft., 7 BR, 5.5 BA, oversized rooms throughout. Spectacular 2 story marble foyer, 4 FP, 2 car garage, huge lot, great location in Whitman district. Three full levels, two with hardwood. Huge MBR suite w/ marble FP and owner's deck. Oversized, eat-in kitchen adjacent to family room with stone FP. Easy in to DC, easy out to 495/270.
Estimated property taxes and non-tax charges in the first full fiscal year of ownership is: $14,576.24
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5608 Jordan Road, Bethesda MD
$2,195,000
Spectacular new home in convenient Springfield. 7 bedrooms, 5.5 baths with the highest quality finishes. Gourmet kitchen with granite, custom cabinets, stainless.4 finished levels, large deck, screened porch, covered front porch, patio, and 2 car garage. Hardwood on 2 full levels. 3 fireplaces, flagstone mudroom, and more. Close to shopping, DC, Bethesda, and 495.
Estimated property taxes and non-tax charges in the first full fiscal year of ownership is: $20,897.60
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UNDER CONTRACT!
2811 35th Street, NW Washington, DC
$995,000
Very rare opportunity to make the most of an original four square on one of the best blocks in DC. Have your buyer call the architect & builder then bring them all: huge rooms, beautiful front & enormous 2 story rear porches, great trim & details, 6 BR's on 3 finished levels, unfinished walk-out lower level, detached garage, great lot in the shadow of the Cathedral.
Please Click Here for the Virtual Tour
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UNDER CONTRACT
9808 Oleander Ave., Vienna, VA 22181
$532,000
Very special home renovated from top to bottom! New kitchen with beautiful wood cabinets, granite counters, stainless steel appliances, wood floors and new windows. Great flow, large bedrooms, renovated baths and deck that overlooks treed backyard. Lower level features, a family room with tiled floors, French doors leading to rear stone patio, plus an in law suite with separate kitchen and entrance.
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UNDER CONTRACT
4952 Sentinel Drive #8-105,
Bethesda MD
$349,000
Beautiful, bright two bedroom two full bath condo, nestled in nature right in the heart of Bethesda! The very generous floor plan features a spacious open foyer, separate, large living and dining rooms, an updated eat in kitchen!
Estimated property taxes and non-tax charges in the first full fiscal year of ownership is: $4,482.00
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SOLD!
8 Leland Court, Chevy Chase, MD
$1,185,000
Absolutely enchanting colonial home on 10,000+ sf lot on a beautiful cul de sac in the heart of Chevy Chase! Great space & flow, perfect room sizes, charming renovated kitchen & sun drenched breakfast room, fabulous main bedroom suite in Case Design expansion, finished lower level with space for fourth bedroom, 2 car garage, lovely deck, patio & gardens. Really, just a delightful home.
Estimated property tax and non-tax charges in the first fiscal year of ownership $11,956.
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Today's Rates |
- 30 year fixed rate 5.12%
- 15 year fixed rate 4.56%
- 5 year ARM 4.57%
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