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Dear Nalls Home Partners Clients, Friends and Family:
Chief cook and bottle washer come to mind this week as we personally hand stuffed thousands of gift magnets into envelopes to send to our clients, customers and friends. Rather than calendars, this year we made a list of important phone numbers, like utilities and county services, that should be useful to have handy. A few people called asking about their 2010 calendar magnets though, so we had some of those printed as well. If you are not on our Snail Mail list and would like to receive either 2010 magnet, please give us a call and we'll be happy to send you one or both.
While we stuffed, our assistant Becky kept reminding us to get the articles written for this electronic newsletter. And of course, business went on with Tom taking three new listings and receiving a number of contracts. It is that kind of broad based business model - one that mixes traditional, time tested real estate practices with new technologies and ideas - that makes our group work so well. So we talk about ways to further improve our website while we still stuff envelopes ourselves once a year. When it is time to list your home, we post high resolution color photographs to literally dozens of websites but we still pick up the phone and call prospective buyers too. It's the best of both worlds.
In addition to the commonly used numbers on our magnet this year, we are continuing to add to the referral resources listed on our website. These are businesses of all sorts, but mostly those associated with houses and real estate, that we can personally recommend. If you have or know of a business that you would like us to include, please pass their information on to us. We are always happy to expand the list.
Finally, a shameless plug to our friend and client Andrew Berman's business, Spectrum Printing and Graphics in Rockville, that stepped up heroically and turned letterhead and envelopes around for us in about 48 hours when we realized that we had run short for this big mailing. Also to Herman and Malka Stopak at Creative-Potentials for their patience with all the last minute additions to the magnets. Our business is truly a team effort and we are so grateful for all the great businesses that support us!
All the best -
Barbara, Tom, Susan and Harrison
Long and Foster Real Estate, Inc
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PROPERTY INSURANCE
Recently we heard from a client who unfortunately had pipes freeze and break in the bitter cold last week. It started a conversation about homeowner's insurance claims and property resale. This has become a problem in the past few years as insurance companies are increasingly reluctant to insure both properties that have had claims or homeowners that have made claims. Yes, that's right, they get you twice. Say for example you make a claim for damage caused by a sewer backup and then decide to move two years later. Your purchaser may have trouble insuring the property even if they go to another company because the address is "tagged" in a national database. If they can get insurance, they may ask you to pay the difference in the premium, which can be as much as 200% higher than it would normally cost. You can always say no, but it certainly complicates the deal. To make matters worse, YOU may have similar issues getting insurance for the house you are trying to buy because the same national database tagged your personal information. And because part of the insurance application requires listing previous residences, having a spouse apply for the insurance doesn't work. We've tried. The "penalty period" for a claim is usually about 5 years.
The Maryland Association of Realtors has a helpful pamphlet on the subject Click HERE for a copy of the pamphlet . Of course the best advice you can get will be from your insurance agent. We refer Al Fuentes and Curt Sumpter at State Farm Insurance in Bethesda 301 657 2323 if you need a name.
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Another Big Gain in Existing-Home Sales as Buyers Respond
to Tax Credit
Washington, December 22, 2009
Existing-home sales rose again in November as first-time buyers rushed to close sales before the original November 30 deadline for the recently extended and expanded tax credit, according to the National Association of Realtors®.
Existing Home Sales- including single-family, townhomes, condominiums and co-ops - rose 7.4 percent to a seasonally adjusted annual rate1 of 6.54 million units in November from 6.09 million in October, and are 44.1 percent higher than the 4.54 million-unit pace in November 2008. Current sales remain at the highest level since February 2007 when they hit 6.55 million.
Lawrence Yun, NAR chief economist, said the rise was expected. "This clearly is a rush of first-time buyers not wanting to miss out on the tax credit, but there are many more potential buyers who can enter the market in the months ahead," he said. "We expect a temporary sales drop while buying activity ramps up for another surge in the spring when buyers take advantage of the expanded tax credit, which hopefully will take us into a self-sustaining market in the second half of 2010. In all, 4.4 million households are expected to claim the tax credit before it expires and balance should be restored to the housing sector with inventories continuing to decline."
(Information from the National Association of Realtors®)
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Regional Sales Trends
Sales Trends for the Month of December Single Family Homes
Contracts Ratified Per Month
(information from GCAAR)
Montgomery County Statistics
DC Statistics
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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, three 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:$13,869.24
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5608 Jordan Road, Bethesda MD 20816
$1,999,999
Spectacular new home in convenient Springfield. Seven bedrooms and five and a half baths, with the highest quality finishes. Gourmet kitchen with granite, custom cabinets, stainless. Four finished levels, large deck, screened porch, covered front porch, patio, and two car garage. Hardwood on two full levels. Three fireplaces, slate mudroom, and more. Close to shopping, DC, Bethesda, and 495.
Click Here for a Virtual Tour
Estimated property taxes and non-tax charges in the first full fiscal year of ownership is: $23,545.52
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7204 Loch Lomond Drive, Bethesda MD
$1,449,000
An entertainers dream home with almost 9,000 sq. ft., seven bedrooms and five and a half baths, oversized rooms throughout. Spectacular two story marble foyer, four fireplaces, two car garage, huge lot, great location in Whitman district. Three full levels, two with hardwood. Huge master bedroom suite with marble fireplace and owner's deck. Oversized, eat-in kitchen adjacent to family room with stone fireplace. 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: $15,074.65
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Under Contract!
10903 Whiterim Drive, Potomac MD
$639,000
Gorgeously updated and decorated, flooded with light in Bethesda/Potomac's best kept secret - Woodrock. Live surrounded by nature but just minutes to DC, Whitman schools too! Three big bedrooms including stunning master, renovated baths & eat in kitchen with sitting area, beautiful living room and dining room, great lower level, very private deck backs the lawn and woods. Drapes, blinds and finishes to die for -promise you will be impressed.
Click Here for a Virtual Tour
Estimated property taxes and non-tax charges in the first full fiscal year of ownership is: $6,440.78
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Sold!
6689 Fairfax Road Chevy Chase, MD
$539,000
Bright, updated 3 bedroom, 2.5 bath townhouse in a pretty courtyard on the quiet side of popular Kenwood Forest! Generous room sizes, hall/foyer entrance, main floor powder room, spacious living room, separate dining room with French doors to huge new deck, table size kitchen, large master bedroom and two additional bedrooms, two renovated full baths upstairs. Hardwoods though-out, full attic with pull down stairs for storage. Easy condo living - all exterior maintenance and groundskeeping covered in one low fee - leaving you your weekends to enjoy the new farmer's market and all the rest that downtown Bethesda has to offer just two blocks away. That means Metro too! Welcome Home!
Click Here for a Virtual Tour
Estimated property taxes and non-tax charges in the first full fiscal year of ownership is:$5,957.93
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SOLD!
1909 Rhodes Street N #21, Arlington VA
Gorgeous extra large one bedroom in red hot Colonial Village! Bright renovated eat in kichent with new appliances, beautifully updated bath, new pergo & ceramic floors throughout, all new lighting. Unique floor plan larger than other 1brs, nice hall between bedroom and living room for privacy,extra closets & 2 expos, all windows 8 ft+ off grade facing lovely green space. Tons of storage, EZ parking, walk to Metro!
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Today's Rates |
- 30 year fixed rate 5.09%
- 15 year fixed rate 4.50%
- 5 year ARM 4.44%
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November's Home Sales Leap
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(Click on Image to Read an Interesting Article from CNN Money Regarding the November Home Sales Leap in Existing Home Sales)
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Freddie Mac: 30-yr mortgage rate rises to 5.14%
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(Click on Image to Read an Article from Market Watch about the 30-year fixed-rate mortgage)
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Washington, DC Restaurant Week 2010
Dates: January 11-17, 2010
During Washington, DC Restaurant Week, more than 180 of Washington, DC's finest restaurants offer 3-course lunches for $20.10 and 3-course dinners for $35.10. Washington, DC Restaurant Week is a great opportunity to experience Washington, DC's best restaurants at affordable prices. Cuisines include Contemporary American, Mexican, French, Mediterranean, Italian, Southern, Seafood, Spanish, California, Pan-Asian and more! A complete list of participating restaurants is posted at opentable.com. Washington, DC Restaurant Week is produced biannually by the Destination DC and the Restaurant Association Metropolitan Washington.
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Bank of America
Deb Levy - Mortgage Loan Officer
1801 K Street NW, Suite 440
Washington, DC
202-416-2898
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Prosperity Mortgage
Karen Van Zandt
Home Mortgage Consultant
4733 Bethesda Avenue #100
Bethesda, MD 20814
Office: 240-497-1772
Fax: 301-654-4259
Mobile: 301-613-5780
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