Realty Digest A Quirky Collection of News and Information From The Service You Can Trust Team **** July 22, 2006 **** Thanks for thinking of us when friends, relatives or colleagues may be moving. We treasure referrals, which are the foundation of our growing business, and we prize anyone who makes them. IN THIS ISSUE: Items of Interest Out and About Montgomery Market Update The Week's New Listings Items of Interest ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ FED CHAIRMAN NOTES COOLING OF HOUSING MARKET: In congressional testimony, Ben Bernanke observed that the market for residential real estate has been cooling, as can be seen in the slowing of new and existing home sales and housing starts. "The downturn in the housing market so far appears to be orderly," the chairman said during a hearing before the House Financial Services Committee. Some of the recent softening in housing starts may have resulted from the unusually favorable weather during the first quarter of the year, which pulled forward construction activity, he said, adding that the slowing of the housing market appears to be more broad-based than can be explained by that factor alone. "Home prices, which have climbed at double-digit rates in recent years, still appear to be rising for the nation as a whole, though significantly less rapidly than before," Bernanke declared. "These developments in the housing market are not particularly surprising, as the sustained run-up in housing prices, together with some increase in mortgage rates, has reduced affordability and thus the demand for new homes." FANNIE MAE ECONOMISTS PROJECT 10 PERCENT DROP IN SALES: The number of homes changing hands in 2006 could decline by up to 10 percent next year, the top economists at Fannie Mae project, according to Inman News. Economists David Berson and Molly Boesel said in a report that a weakening investor demand and a lack of affordability could bring sales volume down 8-10 percent next year, to 7.61 million units. That would still be the third-best year ever for home sales, the report noted. "The surge in the number of immigrants over the past 25 years, the age-structure of the population and continued job and income growth as the overall economy grows around trend rates should partially offset the drop in sales related to affordability and investors," the report said. The falloff in sales will be most pronounced in areas with weak economies and where the decline in investor demand creates a large increase in the supply of homes for sale. Home prices could fall in those areas, slowing overall home-price gains to 3 percent in 2006, ending two years of double-digit growth. "Even though new sales have increased, the level of unsold inventories has continued to climb to record highs - clearly a warning sign for home prices should sales slip in coming months," the Fannie Mae report said. "We think that sales will decline over the rest of the year, as leading indicators of sales continue to weaken." HOUSING STARTS TAKE A DIVE: Total housing starts dropped 5.3 percent in June to a seasonally adjusted annual rate of 1.850 million units, according to figures released by the Commerce Department. That number was 11.0 percent below the pace of a year ago. Single-family starts were down 6.5 percent for the month, a 13.8 percent drop from June 2005. Multifamily housing construction was up 0.3 percent for the month. "The June declines in single-family starts and permits clearly show that the housing downswing still is under way, a pattern consistent with our signals from the field," said Chief Economist David Seiders of National Association of Home Builders (NAHB). "Builders are reporting not only systematic declines in home sales, but also increases in sales cancellations and inventories - due to eroding affordability conditions as well as a withdrawal of investors/speculators from the market." Issuance of total building permits decreased 4.3 percent from May to June, 14.9 percent below a year ago. Single-family permit issuance was down 6.3 percent on a national basis to a pace of 1.395 million units for the month, reflecting declines in all regions of the country. YOU CAN TELL A HOUSE BY ITS COVERS: Stone and brick are marvelous means of sprucing up the appearance of a home, notes the Associated Press in the Washington Post in a piece about improving the appearance of dwellings. An essential part of any facelift plan, lighting not only is a decorative element but can improve safety and security. Replacing an old, worn-out three-tab shingle roof with an architectural-grade laminated roof can have a tremendous impact on a home's appearance. Plus, replacing a leaking roof can prevent water damage and rot that could threaten the safety and integrity of the home. A fresh coat of paint can do wonders, with the right combination of colors dramatically transforming a home by accenting certain elements such as shutters, the entry door, trim or other architectural elements. Where the exterior cladding has been neglected and is too far gone, new siding presents the opportunity to tweak the architectural appearance, add insulation and install a more maintenance-free finish such as a vinyl, fiber-cement or a composite material. And trim around windows and doors, window shutters, or shingle mold at barge rafters are subtle elements of that much-needed touch that may have been missing. A new entry door can do wonders in improving the curb appeal of a home. Add decorative glass, one or more sidelights with decorative glass, a decorative glass transom, energy-efficient and maintenance-free fiberglass construction, and a new decorative lockset. A garage door can account for up to 40 percent of the exterior appearance of your home. If your garage door is one of the old one-piece, tilt-up-style doors or if it is a "sagging sectional," consider replacing it with a new sectional door constructed of steel or fiberglass. If your entry path, porch or driveway is cracked, discolored or otherwise unsightly, there are several "fixes" that you can consider, including a self-leveling concrete caulk or a vinyl concrete patch, penetrating concrete stains, paint and architectural coatings that consist of polymers offering a "stamped" finish in a host of colors that can transform virtually any concrete finish into a thing of beauty. Finally, when it comes to curb appeal, not enough can be said about the importance of a well-manicured yard. READING, 'RITING AND REAL ESTATE: Student scores on state proficiency tests can drive up housing prices, a new study suggests, according to Realtor magazine. A study of Ohio school districts showed that an increase of about 20 percentage points in the proficiency test "pass rate" increased home values in a school district by about 7 percent - even after considering other factors that can have an impact on home values. "In Ohio, there are districts with 20 percent pass rates and some with 85 percent pass rates, so based on our findings that would result in about a 23 percent difference in house values solely because of the schools. It is not [a] trivial amount," said Donald Haurin, co-author of the study and professor of economics at Ohio State University. More complex measures such as how much proficiency test pass rates improved between the 4th and the 9th grades didn't have much impact on home values. TENANTS, DON'T OMIT INSURANCE: Renter's insurance is a protection against losses suffered by the tenant caused by his or her negligence or by factors beyond the control of the tenant but for which the tenant could be blamed, says the Washington Post. Landlords like the protection because, without the insurance, they cannot rely on the tenant to cover significant damage. Instead, they or their own insurance would be forced to pay. Tenants should like renter's insurance since it not only covers damage to property but also pays them for losses occurring from theft or other incidents (for example, fire or water leaks). The downside, of course, is the cost of the policy, which just increases the monthly cost of living. The good news is that this cost is pretty low and is for a service and protection that can be of great value to the tenant. PULL UP A ROCKING CHAIR: A city council member in Tampa, Fla., feels so strongly about front porches that he wants to change the city's zoning code to encourage home owners to add the feature, says the St. Petersburg Times in Realtor magazine. Councilman John Dingfelder says the city would benefit from the sense of community that porches encourage. Life is better, he says, "when you sit on the front porch and watch your kids play and wave at your neighbors." Dingfelder's plan would change the city's zoning code to allow for an open porch that could extend up to 8 feet into required setback space. Tampa currently requires a 20- to 30-foot setback in front of homes. The Tampa Bay Builders Association doesn't think it's such a good idea because it could increase home costs and there is no indication that buyers are eager for porches. But Tampa police spokesperson Laura McElroy says the department is in favor of passage. "We love front porches," McElroy says. That's because porches encourage people to watch for suspicious cars and people in the neighborhood. ARE DEVELOPERS BRIBING MUNICIPALITIES: In the frenzy to build subdivisions in Northern Virginia's exurbs, one of the nation's largest housing developers has offered to write the small Fauquier County town of Warrenton a $22 million check, an unprecedented cash donation, according to Virginia real estate specialists, the Washington Post reports. In exchange, Centex Homes of Dallas would get permission from county and town leaders to build a subdivision just outside Warrenton with nearly 300 luxury homes for seniors starting at $850,000. Town and county leaders have given their initial approval to Centex's proposal, which involves asking Warrenton to annex property so the builder can connect to the town's sewer system. Development specialists say the unusually large promise of cash highlights a disturbing trend in Virginia's booming housing market. Developers eager to plant new homes in exurban locales are building roads, establishing parks and offering money - all in an effort to appease increasingly resistant communities. The result, the specialists say, is more expensive homes. In Loudoun County, the developer Greenvest has offered to spend $192 million on road improvements in exchange for permission to build 15,000 homes near Dulles International Airport. Toll Brothers, another developer, plans to contribute 233 acres of parkland to Prince William County so it will rezone rural land to build 420 houses near Silver Lake. BUILDER CONFIDENCE SINKS AGAIN: Increased concerns about interest rates and housing affordability caused builder confidence in the market for new single-family homes to slip three more notches to 39, a 15-year-low, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) for July. "The HMI is down from its most recent cyclical high of 72 in June of last year and reflects growing builder uncertainly on the heels of reduced sales and increased cancellations related to eroding affordability as well as an ongoing withdrawal of investors/speculators from the marketplace," commented Chief Economist David Seiders of the National Association of Home Builders (NAHB). "But just as concerning to many builders is the potential for more monetary tightening by the Federal Reserve that could drive interest rates, and thereby homeownership costs, even higher. Ironically, the Fed's inflation-fighting moves have helped firm up the rental market and raise the 'owners' equivalent rent' components of the core inflation measures that the Fed is seeking to contain." With the seasonally adjusted index, any number over 50 indicates that more builders view sales conditions as good than poor. "In terms of historical comparison, the HMI's movement is essentially in line with readings from the 1994-95 period, when the Federal Reserve tightened monetary policy and a fairly orderly cooling-down process occurred in the nation's housing markets," Seiders continued. "That is what our forecasts anticipate happening in the current period, provided the downside risks of rising interest rates and a bail-out by investors/speculators do not become too pronounced. With respect to interest rates, we expect the Federal Reserve to maintain the current 5.25 percent target for the federal funds rate for some time, and we're projecting only modest increases in long-term interest rates from current levels." FAIRFAX SUPERVISORS END HIATUS FOR ZONING CHANGE: The Board of Supervisors approved new rules last week to satisfy the court and homeowners that will allow the limited approval of variances to resume after a two-year hiatus, according to the Washington Post. The new system, approved unanimously, allows homeowners to seek a special permit or exception from the Board of Zoning Appeals. The size of a house can grow up to 150 percent if the expansion cannot be completed within the neighborhood's limits on setbacks and lot lines. The renovation cannot, however, raze more than half of the existing house. Rules on setbacks and lot lines vary among neighborhoods and depend on the density allowed. Planning and zoning officials devised the new system after 18 months of community meetings. BASH-AND-BUILD IS WHAT THEY CALL THEM IN NEW JERSEY: In Colorado they're called "scrape offs." Here, they're "teardowns." An "orgy of irrational destruction" is how Richard Moe, president of the National Trust for Historic Preservation, characterized the trend in a speech before the Commonwealth Club of California, says Realtor magazine. The practice of demolishing an existing home to make way for a much larger one on the same lot is the "biggest threat to America's older neighborhoods since the heyday of urban renewal and interstate highway construction," Moe declared. "From 19th-century Victorians to 1920s bungalows and 1950s Eichlers, the older houses that grace our communities are valuable historical documents in brick and wood, steel and glass. Without proper safeguards, historic neighborhoods will lose the identities that drew residents to put down roots in the first place." In the Chicago suburb of Kenilworth, Ill., 50 of the town's early 20th-century homes, many designed by notable architects such as D. H. Burnham, have been demolished. In the Dallas communities of Highland Park and University Park, more than 1,000 historic homes have been replaced, and in Palo Alto and Menlo Park, Calif., more than 450 older homes were torn down. Even classic Modernist homes, many the work of prominent architects, have been under siege in New Canaan, Conn. For communities, effective strategies to slow the teardown trend include set back requirements, open space standards, and local ordinances requiring owners to get permission before demolishing or altering older or historic builders. Cities as diverse as Atlanta, Chevy Chase, Md., and Palo Alto, Calif., have adopted moratorium measures to give civic leaders time to assess their land-use and zoning practices. AFFORDABLE HOUSING FACILITATED IN MONTGOMERY COUNTRY: Officials took steps to address the scarcity of affordable housing by trying to make it easier for middle-class workers to buy and rent homes in Maryland's largest jurisdiction, reports the Washington Post. Unlike past programs that have targeted the county's poorest residents, the latest initiative is aimed at helping workers such as teachers, firefighters and county employees who are increasingly being priced out of the housing market in one of the nation's wealthiest suburbs. The measure, passed unanimously by the County Council, would lead to the construction of as many as 2,500 units over 20-30 years in urban areas surrounding Metro stations, officials said. MONTHLY PAYMENTS WORRY MANY AMERICANS: One out of three worries that rising monthly payments - especially property taxes and energy costs - will force them to sell their home and buy a less expensive one, according to a study by the National Association of Realtors (NAR). According to the study, high real estate taxes are most prevalent in states with high home prices and also in states such as New Hampshire that don't have a state income tax. New Jersey, with an average real estate tax deduction of $6,000, was the highest, followed by New York ($5,181), New Hampshire ($4,830), Connecticut ($4,769) and Texas ($4,501). Soaring energy costs affect an even wider swath of home owners. According to estimates by the Energy Information Administration, from February 2005 to February 2006, the cost of electricity was up 12 percent; natural gas, up 28 percent; and home heating oil, up 25 percent. Six in 10 of the survey's respondents said that high property taxes and rising energy costs could cause them to sell their home. Nearly four in 10 were worried about rising home interest rates. Three in 10 were worried that they or members of their family may have their home repossessed because they are unable to pay rising monthly mortgage payments. More than 20 percent of respondents reported not seeing friends and family, not being involved in neighborhood, missing out on promotions, lack of productivity and missing out on vacations because they have to work too much to pay for their home or they don't have the money because of high home costs. THERE'S NO CONCEALING THE STEADINESS OF THIS MARKET: Much of the real estate near St. Petersburg, Fla., has been selling slowly, but there's one niche hasn't been hit by the slowdown: nudist resort housing, according to the St. Petersburg Times in Realtor magazine. Paradise Lakes nudist resort put 39 new 1,167-square-foot condominiums up for sale late last year for $200,000 each. The units aren't scheduled for completion until October, but all 36 are sold. Property at the Oasis, a 28-home gated community for those who prefer life in the buff, doesn't turn over often. In the last 12 months only one home has changed hands - an 1,800-SF property sold for $360,000. "The slowdown really didn't worry us," said Joe Lettelleir, Paradise Lakes' owner. "We are fortunate that we are somewhat insulated from the mainstream market." Insulated by what, he didn't say. FORT COLLINS TOPS THE LIST, COLUMBIA/ELLICOTT CITY ARE 4TH: On its annual "Best Places to Live " list, Money magazine awarded the No. 1 ranking to Fort Collins, Colo. for its city offerings but suburban feel, good schools, plenty of parks and open space and a solid economic base with large employers like Colorado State University and Hewlett-Packard, observes the Wall Street Journal. However, this town made the news in 1997 when a flash flood derailed a train, ravaged two trailer parks and killed five people. Other towns making the top 10 (Nos. 2 to 10, in order) are: Naperville, Ill.; Sugar Land, Texas; Columbia/Ellicott City, Md.; Cary, N.C.; Overland Park, Kan.; Scottsdale, Ariz.; Boise, Idaho; Fairfield, Conn.; and Eden, Prairie, Minn. MORTGAGE VOLUME DECLINES FOR THE WEEK ENDED JULY 14: It decreased by 4.6 percent on a seasonally adjusted basis from one week earlier, says the Mortgage Bankers Association. On an unadjusted basis, volume increased 36.4 percent compared with the previous week, which included Independence Day, but fell 31.3 percent compared with the same week one year earlier. Seasonally adjusted, purchase applications dipped 6.2 percent from the previous week, and refinancings went down by 1.6 percent. The refinance share of mortgage activity increased to 35.0 percent of total applications from 34.0 percent the previous week, while the adjustable-rate mortgage (ARM) share edged up to 29.0 percent from 28.7. NEW ENGLAND EXPERIENCES DISTINCT CHILL IN HOUSING MARKET: A persistent exodus of residents and a stagnant economy across the region are depressing home sales, the Wall Street Journal reports. The real-estate landscape in New England is diverse, of course. Even so, sales volume across New England fell sharply in the first five months of the year, with the region's biggest states posting broad declines. In Massachusetts, single-family-home sales fell 9.3 percent through May compared with the same period a year earlier, according to figures from Warren Group, a Boston real-estate news publisher that compiles housing statistics. Sales in the Cape Cod and Worcester areas saw steep drop-offs, 17.8 percent and 12.5 percent respectively. In Connecticut, sales volume fell 11 percent in the first five months of the year compared with the same period a year earlier, Warren Group reports. Fairfield County - home to pricey towns such as Greenwich, New Canaan and Westport - saw a 17 percent sales drop compared with the same 2005 period. The factors behind New England's slowdown are complicated. For starters, its economy appears to be stalling, researchers say, at a time when the country as a whole maintains a relatively strong economic outlook. A recent report issued by the New England Economic Partnership cites continued weakening in the manufacturing, leisure and hospitality industries, three of the region's important economic engines, through 2010, resulting in slightly higher unemployment numbers. Growth in total employment is expected to average 0.9 percent per year, as opposed to the national average of 1.3 percent over the forecast period. Meanwhile, the pool of potential home-buyers in the region is "falling like a stone," says New Hampshire-based demographer Peter Francese. He cites U.S. Census Bureau data showing almost 200,000 residents between 25 and 44 years of age left the region between 2000 and 2004. All six New England states show declines in that category, with Maine, Vermont and Connecticut far outpacing the national average. No wonder the real-estate scene in New England - where home prices climbed at least twice as fast as household income during the run-up - is frosty. The population flight "weighs on the region's economy and housing market," says Mark Zandi, an economist with Moody's Economy.com. The collapse in housing affordability, he says, has driven out first-time home-buyers. WHILE DOWN SINCE MAY, FORECLOSURES ARE UP OVER 2005: The number of U.S. properties entering the foreclosure process dipped in June from the previous month but were considerably higher than a year ago, according to an industry report, notes Inman News. A total of 88,195 properties entered some stage of foreclosure in June, down 5 percent from one month earlier, but the sum was 17 percent above the June 2005 level, according to RealtyTrac's June foreclosure market report. The report shows a June national foreclosure rate of one foreclosure filing for every 1,311 U.S. households. "New U.S. foreclosures dropped to their lowest level of the year in June, despite some of the sensational and misleading figures that we've seen reported recently," said James J. Saccacio, chief executive officer of RealtyTrac. "We think it's irresponsible to present falsely inflated numbers to the media for commercial gain as we've seen happen recently. The fact is that most states, with the notable exception of California, Ohio and Nevada, reported decreased numbers of foreclosure filings in June." SOME BABY-BOOMERS WEARY OF BEING LANDLORDS: As investors in apartments, some are plain tired of the hassle of fixing leaky faucets and responding to other tenant complaints. The Wall Street Journal says they are starting to sell these investments as they get closer to retirement. In a survey conducted for the newspaper, Marrcus & Millichap found that its apartment-investor clients who have recently sold their assets plan to move 59 percent of that equity to other properties, investments and cash. The results are based on an analysis of 700 apartment transactions ranging from $1 million to $10 million in the 12 months ended May 31. Harvey Green, chief executive officer of the Encino, Calif., real-estate investment brokerage firm, says the overwhelming majority of its private investor base is 50 and older. Many bought their properties between 1990 and 2000. It took awhile to build up equity because of the real-estate downturn of 1991 to 1993 and the slow recovery in the following years. As a result, many held on to their properties longer than they originally expected, Green adds. In recent years, however, apartment investors began to experience tremendous equity growth. The median price per unit of apartments in the U.S. rose 87 percent to $112,000 from 2000 to 2006. "A number of them found that they were 10 years older and had a much larger tax liability because of the tremendous amount of appreciation," Green says. "Now, they are thinking of the tax impact and coming up with exit strategies." They are also just looking for less-intensive investments. In addition to myriad tenants' service complaints, frequent apartment turnover requires repeated and expensive painting, cleaning and carpeting. Some investors who are cashing out "are more passive in terms of management," Green says. They are seeking stable, long-term cash flow and not necessarily as much equity buildup. MORTGAGE RATES TURN UP AGAIN: The 30-year fixed-rate mortgage (FRM) averaged 6.80 percent for the week, up from last week's 6.74 percent and last year's 5.73 percent, according to Freddie Mac. The last time the 30-year FRM was higher was the week ending May 24, 2002, when it was 6.81 percent. The 15-year FRM this week was 6.41 percent, up from 6.37 percent the previous week and 5.32 percent a year ago. Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 6.36 percent, up from last week, when the average was 6.33 percent. A year ago, the five-year ARM was 5.26 percent. One-year Treasury-indexed ARMs were 5.80 percent this week, up from 5.75 percent. At this time last year, they were 4.42 percent. "Financial markets were a bit jittery after core Consumer Price Index (CPI) figures for June were released that indicated inflation might still be a potential threat," said Frank Nothaft, Freddie Mac vice president and chief economist. "If this were the case, the Fed would be more inclined to continue to raise rates this year. Mortgage rates reflected that thinking and rose accordingly. However, Fed Chief Bernanke, in his semi-annual speech to Congress, hinted that another rise in overnight lending rates might not be imminent and financial markets breathed a collective sigh of relief, which should be reflected in the results of next week's survey." RESTON BUILDER REPORTS DECLINING SALES: NVR, the Reston home building company, said that its profit rose in the second quarter, according to the Washington Post. The company, parent of Ryan Homes and NVHomes, said orders for new homes in its 23 major markets were down 13 percent in the quarter compared with a year ago and declined even more markedly in the Washington area, where they dropped 27 percent. Share prices for home building stocks as a group have fallen 50 percent in the past 12 months, according to the Dow Jones U.S. Home Construction Index. Also acknowledging fewer home orders was D.R. Horton Inc., one of the nation's largest home builders, which said they had fallen 4.4 percent in its fiscal third quarter, less sharply than at NVR. M.D.C. Holdings Inc. of Denver, which operates in the Washington area and elsewhere under the name Richmond American Homes, reported that home orders were off 43 percent. Out and About ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ On goes the search Assignment: find a single family house west of Rock Creek Park or close-in Montgomery County with three or more bedrooms and two or more baths in decent shape for around $750,000. A well-priced ($749,000) 1940 colonial in Chevy Chase, D.C. With curved walk and welcoming front porch and four finished levels, this home has three decent- size bedrooms and two full baths. The nicely finished attic could be a fourth bedroom, playroom or office. The first floor has smallish living and eating areas, but the kitchen offers an eat-in/sunroom nook and begs for you to walk out into its huge back yard. The basement has a cozy family room and separate utility area. Other nice features include well-preserved wood floors and new (2003-2006) furnace, AC, hot water heater, dishwasher and storm windows. With a two-car garage, on a quiet street, but still on the market after almost a month, this one demonstrates the market slowdown. An AU Park colonial, built in 1952 and listed at $799,000. Compared with the house in Chevy Chase/D.C., this one has three smaller bedrooms with two run-of-the- mill but clean bathrooms. The basement boasts decent spaces for both family lounging and doing the laundry. There is no real attic – at least not one that can be used for anything but boxes. There is no sunroom, but this house also has a two-car garage and a large and inviting backyard. A smaller house but priced at $50,000 more, apparently due to its reasonable proximity to Metro. Just five days on the market. For a whopping $759,000 in Glover Park you can buy a two-bedroom and two-and-half-bath home. This light-filled house features hardwood, oversized windows and high ceilings throughout. The already small living room is an awkwardly shaped rectangle. It is unfortunate. The dining room flows nicely into a quaint and welcoming sunroom opening onto a lovely deck. Perfect for entertaining. There is parking for two cars. The large master suite and second bedroom would be perfect for a couple or a family of three. But overnight guests will be staying at a local hotel. On the market less than a week. A second rowhouse in Glover Park - this one with three bedrooms and one bath plus an inlaw suite – is priced at $749,000. The main house is attractive, wider than the single family homes in Chevy Chase and AU Park, and has hardwood floors, an updated kitchen with black appliances and light- colored (almost pinkish) wood cabinets. The standard sunroom has access to a porch with small, grassy backyard. The upper level bedrooms are small but functional. The makeshift rental unit in the basement has a cozy living space with bedroom and kitchen separated by the fridge – not ideal but not unusual for the neighborhood. Also in Chevy Chase/D.C., just off Connecticut Avenue and a quick walk to Politics and Prose, a 1939 rowhouse with three (small, smaller, smallest) bedrooms and two original baths upstairs, carefully preserved moldings, and a bad kitchen renovation, all for $739,000. This one has location and some possibilities but not at this price! On the market nearly 50 days. Slightly off the track, a surprisingly good find in Adams Morgan. Listed at $749,000 and right around the corner from all the nightlife and restaurants, this wicked wide 1920s rowhome with high ceilings and hardwood floors feels larger than the three bedroom, two-and-a-half-bath home that it is; a little loving care would make it into something amazing. With precious off-street parking, a front porch that begs for rocking chairs and potted plants, a second porch off the master bedroom and tons of space throughout the house, it's hard to believe there isn't someone out there for this gem! Also off the track, but worth a thought, a gorgeous renovation in Ledroit Park, listed at $749,900. This home, six blocks from the Metro, has light pouring in all of its many windows. Everything is new. All the ceilings are high and all the wood floors, shining. The three large bedrooms and two and a half baths in the upper part of the home are complemented by a huge one bedroom/one bath rental unit in the basement. It is all done and done well. AB/AM   Montgomery Market Update ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Reality rears its welcome head Condos and co-ops The growth of new supply slowed noticeably in June, but the inventory of unsold apartments continued to swell at the price levels where most units are offered. An average 7.8 percent increase, to 496 new listings, was concentrated in condos and co-ops offered between $200,000 and $400,000, where 357 apartments were put on the market. By the end of the month, supply grew from 272 one year earlier to 1,025, a 276.8 percent gain. At price levels below $700,000, inventory shot up in the triple digits ranging from 183 percent ($400,000-500,000) to 430 percent ($500,000-600,000). There were 525 condos and co-ops languishing on the market between $200,000 and $500,000, the remainder sprinkled elsewhere. The steady climb of supply over at least the last 12 months was unchecked, reaching yet another peak. Sales volume during June slumped by 17 percent from June of 2005, with persistent declines at the most active levels - $200,000-500,000. Of the 292 contracts ratified, 253 were in that range versus 286 a year earlier. Year-to-date sales of 1,705 apartments represented a 15.2 percent decrease, but there was an 11.8 percent increase, to 463, of those listed at $300,000-400,000. Otherwise, inventory tended to fall above $200,000 by as little as 2 percent ($500,000-600,000) and as much as 33.3 percent ($600,000-700,000). The market absorbed only 22 percent of the available units as opposed to 21.9 percent in May. That rate compares with 28.7 percent in the normally slow February and 48 percent in September. One year earlier, the absorption rate was 61 percent, and it reached a plateau of around 52 percent most of last summer. Yet prices continue to hesitate above last year’s highs. This year, the average is $310,764; last year, it was $306,544. The median is $283,900 in 2006 and was $275,000 in 2005. Single-family homes New listings in June were 3.4 percent lower than the previous June despite solid double-digit declines below $400,000 and smaller ones between $600,000 and $1 million. The total of homes added to the market was 1,936, of which 1,145 were clustered between $300,000 and $600,000. The high end is showing no restraint: Compared with 191 listed in June 2005, there were 225 this year. Although the month’s inventory of listings remaining active was higher than in any of the prior 12 months, the rate of ascent seems to have abated. The growth 162.4 percent more than the year earlier, from 1,461 to 3,834. Between $200,000 and $1.25 million, the gains were all in the triple digits up to 297 percent ($500,000-600,000) except for $800,000-900,000, which went up 99 percent. Above $1.25 million, the increases were in the robust double digits owing to a change from 278 in 2005 at the same time to 436 this year. One cause of the growth was a reduction in sales activity at every single price level from a low of 23.4 percent ($500,000-600,000) to a high of 54.2 percent ($700,000-800,000). June’s volume was below that of March, April and May and higher than the other months since November. For the year to date, the number of ratified contracts fell to 5,669 from 7,251 a year earlier, a 21.8 percent drop. The only gains in year-to-date sales occurred above $1.25 million, with 353 this year in contrast to 307 in 2005. The absorption rate in June was a mere 19 percent – fewer than one out of five homes on the market found buyers. In May, it was 23.9 percent. The month before, it was 23.4 percent, and it was 29.1 percent in February. Indeed, the rate hovered between 24 and 28.1 percent most of last fall. The price of homes this year averages $595,670 as opposed to $563,491 in 2005. The median also persists above last year’s levels, now at $486,173 versus $465,000. What it all means With prices still high, but their rate of appreciation starting to sag, the market is acting more rationally than ever before. It appears as though excess supply and poor rates of absorption are having their impact on sellers, whose rush to reap their rewards has slowed markedly. Buyers are straddling the fence with gusto, waiting to see whether prices will slide. With slackening growth of new supply, inventory will go down if sales can be sustained. If not, buyers, after years of going unheard, will continue to wait and see. Since mortgage rates show little signs of ballooning, prospective purchasers perceive little pressure to act quickly. They know very well that their monthly costs will be roughly the same if prices fall and rates rise. However, if rates rise and prices do not slip, buyers will be in a position of committing to the same monthly payment for a less valuable property. In that event, no one wins the waiting game.   This Week's New Listings ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Some of the Region's Latest Listings Below is a fraction of the newest listings by agents in the District of Columbia, Maryland and Virginia. They include, condominiums, cooperatives and other homes in the Multiple Listing Service since Realty Digest's last issue. SILVER SPRING 15115 INTERLACHEN DR #112 $325000 Bedroom(s): 2 Full Bath(s): 2 As only an agent would write: "SOUGHT AFTER FIRST FLOOR H UNIT IN RETIREMENT COMMUNITY!! RARE END UNIT!! TABLE SPACE KITCHEN WITH WINDOW VIEW!! LOVELY ENCLOSED PRIVATE SUNROOM WITH SCENIC VIEW!! NEW CARPET, NEW DW,NEW KITCHEN FLOOR!! FRESHLY PAINTED INTERIOR!! 2 MASTER BEDROOMS WITH 2 PRIVATE BATHROOMS!! SEP. DINING ROOM!! WASHER/DRYER IN UNIT!!EASY ENTRANCE AND EXIT ACCESS FROM UNIT!!" MLS#: MC6124028 WASHINGTON 317 10TH ST NE #12 $330000 Bedroom(s): 1 Full Bath(s): 1 As only an agent would write: "ADORABLE ONE BEDROOM CONDO IN THE HISTORIC HAWTHORNE BUILDING. PRIVATE BALCONY! EXPOSED BRICK"""FIREPLACE""BUILT IN BOOKCASES""NEW APPLICANCES""PLENTY OF CLOSETS AND EXTRA STORAGE TO BOOT! BIKE ROOM IN BASEMENT""SMALL PETS OK! AMAZING ROOF DECK WITH SWEEPING VIEWS OF THE CITY!!! BLOCKS TO LINCOLN PARK, UNION STATION AND EASTERN MARKET"LOW CONDO FEE! OPEN SUNDAY 7/23 12"2!!!" MLS#: DC6123249 SILVER SPRING 11326 KING GEORGE DR #7 $346000 Bedroom(s): 2 Full Bath(s): 2 As only an agent would write: "Location, location, location "here it is! Urban Delight!!Beautiful garage townhouse style condo.Tablespace kit w/french doors to the deck. MBR on main level has hugh walkin closet.Close to shops, eatery, entertainment and the Metro. " MLS#: MC6127397 WASHINGTON 226 CROMWELL TER NE $364900 Bedroom(s): 4 Full Bath(s): 2 As only an agent would write: " There is no other townhouse like this one in the area. Amenities include upgrd. windows, sitting area off the 2nd br., fin. porch area can be used as home office, basement has been dug out to full size w/sep. ent., new vinyl siding in the back, and parking space in rear." MLS#: DC6129522 WASHINGTON 224 S ST NE #1 $365000 Bedroom(s): 3 Full Bath(s): 3 As only an agent would write: "NEWLY RENOVATED 2 UNIT CONDOMINIUM BUILDING, 3 BEDROOM 3 BATH, 2 LEVELS, TASTEFULLY FINISHED, MOTIVATED SELLER AGENT, CLOSING HELP AVAILABLE. HARDWOOD, GRANITE, INTERCOM, JACUZZI AND LOTS MORE. PARKING IN REAR." MLS#: DC6127297 WASHINGTON 1725 LANIER PL NW #21A $379000 Bedroom(s): 2 Full Bath(s): 1 As only an agent would write: "Call, leave message with day/time and go. Beautiful 2BR/1BA with wood floors and wonderful light from three exposures. Unit has been freshly painted and features a big, bright eat"in kitchen, updated bath with brand new ceramic tile floor and stylish contemporary fixtures, and two generous bedrooms. Quiet street yet steps away from the heart of Adams Morgan and an easy walk to Woodley metro!" MLS#: DC6129180 WASHINGTON 440 12TH ST NE #301 $385000 Bedroom(s): 1 Full Bath(s): 1 As only an agent would write: "Historic school blding converted. Top of the line kitch w/granite, island & bar, Cherry cabs &upgraded appl's. Brick walls, vaulted ceilings w/skylites &exposed ductwork, polished concrete floors. 3 closets plus storage area/ hm office nook off foyer. W/D in sep rm, private gated parking. Walk to Eastern Mkt, Barracks Row & to Stanton/Lincoln Parks." MLS#: DC6123991 WASHINGTON 3301 17TH ST NE $395000 Bedroom(s): 3 Full Bath(s): 2 As only an agent would write: "Charming detached home in Brookland. Recent updates throughout. Seperate living room and dining room w/ small bedroom/ office on the main level w/ half bath and table space kitchen. Upstairs features two bedrooms and full bath. Full basement w/ full bath and side entrance leading to spacious corner lot and one car garage w/ off street parking. " MLS#: DC6124697 WASHINGTON 1718 CORCORAN NW #25 $399000 Bedroom(s): 2 Full Bath(s): 1 As only an agent would write: "EXTRA LIGHT bay front with SO much historical charm, exposed brick, wonderful wood floors, fireplace, so comfortable and just perfect! Excellent location, quiet one"way street, close to shops, metro, restaurants, in a pet friendly building...so much to offer! OPEN Sat 7/22 and Sun 7/23 1:00"4:00." MLS#: DC6125567 ALEXANDRIA 3706 KING ST #4 $410000 Bedroom(s): 2 Full Bath(s): 1 As only an agent would write: "This house shines with TLC. Located just off 395 this Townhouse has th in close location along with charm. New stainless Kitchen Appliances, serve"thru to dining room, new FULL SIZE w/d, plantation blinds, NEW HWH, and toilets. Steps to METRO bus, shopping, starbucks, and an easy commute to the city." MLS#: AX6126757 WASHINGTON 2630 ADAMS MILL RD NW #101"A $459000 Bedroom(s): 2 Full Bath(s): 2 As only an agent would write: " This open & bright 910 sqft.condo near the heart of Adams Morgan is elevated above street level with a tree"lined view of park.Its master bedroom has a full ba; 2nd bedroom w/large closet, full ba in hall. The kitchen has new stainless appls & lighting. 14 windows w/3 exposures of light, maple floors & fresh paint add to its chic charm. Open Sat.7/22 1"3, Sun.7/23 1"4." MLS#: DC6129033 WASHINGTON 2001 16TH ST NW #201 $465000 Bedroom(s): 2 Full Bath(s): 2 As only an agent would write: "More than 1,000 sqft at ultra hot 16th & U St location. Walk to everything including two Metros from this sunny 2 bed / 2 full bath home. Fireplace, w/d in unit, large bedrooms, exposed brick, lots of closet space. Storage locker included. This secure and well maintained bldg is pet friendly." MLS#: DC6122142 WASHINGTON 6746 EASTERN AVE NW $475000 Bedroom(s): 4 Full Bath(s): 3 As only an agent would write: "Buy far the best buy in Takoma Park! Beautiful 2 story brick addition on back, 2 zone HVAC, all new double pane windows, great hard wood floors on 1st and 2nd levels, gas FP in LR, updated kitchen w/creamic tile floor, side by side frig w/water & ice through door. Super master BR suite bright & light w/9 windows, sep dressing rm, 3 closets steam shower, his & hers sinks, cathedral ceiling in MBR." MLS#: DC6129219 WASHINGTON 2405 20TH ST NW #1104 $479900 Bedroom(s): 1 Full Bath(s): 1 As only an agent would write: "THIS DAZZELING DUPLEX INCLUDES ALL THE TRIMMINGS: A TERRACE LEVEL PATIO WITH FRENCH DOORS FROM THE LIVING ROOM, GAS FIREPLACE, WOOD FLOORS, DEN, BUILT_IN SOUND SYSTEM, SLATE IN THE FOYER, UPGRADE LIGHTING KOLAR FIXTURES, BOSH DISHWASHER, VIKING GAS STOVE AND CALIFORNIA CLOSET." MLS#: DC6128744 ALEXANDRIA 299 RAYMOND AVE E $499900 Bedroom(s): 3 Full Bath(s): 3 As only an agent would write: "Open 7/23 1"4 p.m.! Stunning Colonial Duplex in Del Ray. With inviting front porch & sun"filled main level, this 3BR, 3.5 BA home is loaded with updates " modern kitchen, new windows, ceiling fans, off"street parking, the list goes on! Combine its charming style with so many modern amenities and the everyday conveniences of Del Ray, and this is a winner! Steps to The Avenue, Minutes to DC!" MLS#: AX6129256 WASHINGTON 1130 PARK ST NE $525000 Bedroom(s): 2 Full Bath(s): 1 As only an agent would write: "Charming Federal TH w/2BR,1BA & upper level den. Located in the historic district among tall trees on an intimate one block street!Old fashioned front porch for summer sitting. Open floor plan that features new hdwoods, FP in LR,updated Kit. stunning bath, versitle den, large yard, and more. LB on left fence! Open Sun 7/23 1"3. Best location!Lin.Park,E.Mkt,Metro,RFK" MLS#: DC6122252 WASHINGTON 2750 14TH ST NW #PH5 $525000 Bedroom(s): 2 Full Bath(s): 2 As only an agent would write: "The Lofts of Columbia Heights, refined style & gracious loft like space. 2br 2ba w/parking available. Building w/roof deck, ground floor retail. Steps to Everything new in Columbia hts." MLS#: DC6123235 WASHINGTON 921 10TH ST NE $529900 Bedroom(s): 3 Full Bath(s): 1 As only an agent would write: "Exquisite porch front totally renovated to its former glory. Divine living room & dining room both with their own fireplaces,huge eat"in renovated kitchen w/exposed brick,new appliances.Check out the restored pocket doors. New baths! Huge fenced backyard big enough for entertaining and potential parking. Cellar perfect for storing your wine stash." MLS#: DC6123473 WASHINGTON 429 10TH ST NE $549000 Bedroom(s): 2 Full Bath(s): 1 As only an agent would write: "Chic sunny row w/ deep yard" deck + 2 car PARKING! Classic style w/ open floor plan " huge LR/DR area, eat"in kitchen w/ brkfst bar and SS appliances, 10+ ft clgs, wd flrs, clean bsmt w/ sep entrance"ripe for finishing. Formerly 3 BR's""now 2 big BR, bath and large walk"in closet. Convenient to Union station and Hill retail. " MLS#: DC6123399 WASHINGTON 6622 EASTERN AVE NW $570000 Bedroom(s): 6 Full Bath(s): 3 As only an agent would write: "Fully renovated with top quality details.Granite counters, Ikea Kit cabinets,SS appliances. Hardwood, slate & ceramic floors.Family room w/beamed ceiling. New HVAC & water heater. Fully finished basement and attic Walk to Metro, banks, shops and Farmers Market.2 rental units and off street parking for 4 cars & garage." MLS#: DC6128311 ROCKVILLE 11002 WICKSHIRE WAY #C"2 $594500 Bedroom(s): 3 Full Bath(s): 3 As only an agent would write: "WONDERFULLY KEPT/TASTEFULLY UPDATED BRICK TH! GRAND LR W/FRPLC, BUILT"INS, & CUST. MLDNGS,SEP DINING AREA W/WOOD FLRS & MLDNGS, T/S KITCHEN W/UPGRADED APPLIANCES, RECESSED LTS, ENDLESS CABINET SPACE, FIN LVL WK"OUT BSMNT! FAM RM W/2ND FRPLC, WET BAR, GLASS DRS TO REAR PATIO/GARDENS! FEE COVERS ALL EXT. & GRND MAINTENANCE & SO MUCH MORE! HDWD FLRS @ MOST OF 3 LVLS! MIN. TO METRO!" MLS#: MC6122172 WASHINGTON 1319 SOUTH CAROLINA AVE SE $599000 Bedroom(s): 2 Full Bath(s): 1 As only an agent would write: "Open Sunday 7/23 1"4pm. Inviting Victorian boasts open floor plan bathed in light.Cooks' Kitchen w/French Doors to Patio & Deep Secluded Garden. Fantastic 1st Flr Powder Room!Sun"filled Master Bedroom,guest room & Huge Bath w/laundry!Storage plus Garage! HWF,Fpl, Central AC. Close to Eastern Market,Safeway, Barracks Row & Metro." MLS#: DC6129416 WASHINGTON 5151 NEBRASKA AVE NW $619000 Bedroom(s): 3 Full Bath(s): 2 As only an agent would write: "Open Sunday, July 23 1"4. LIGHT AND BRIGHT, SPACIOUS CLASSIC BRICK AND STONE 3 LEVEL TOWNHOUSE.FEATURES INCLUDE GREAT FIREPLACE,WOOD FLOORS,BUILT"INS, LARGE KITCHEN AND BEDROOMS, ABOVE GROUND WALK OUT LOWER LEVEL(HOME OFFICE,REC ROOM,GUEST ROOM),LARGE DECK,LANDSCAPED YARD, AND REAR OFF STREET PARKING (2"3)CARS.STEPS TO METRO,SHOPS, PARKS AND,RESTAURANTS." MLS#: DC6130067 BETHESDA 6203 STONEHAM RD $625000 Bedroom(s): 3 Full Bath(s): 3 As only an agent would write: "TERRIFIC HOME""Beautifully cared for, some upgrades. Estate sale "as is" but shows very well. Seller believes HVAC and hot water heater are newer. Lovely hrdwds, French doors off DR to covered patio area, graceful floor plan, spacious rms, pull"dwn attic w. fan; LL club rm + den/office or poss. 4th BR. House has GREAT flow, wonderful feel, comfortable, attractive, well"located. OPEN SUN 7/23 1"4" MLS#: MC6125878 WASHINGTON 2853 ONTARIO RD NW #422 $625000 Bedroom(s): 2 Full Bath(s): 1 As only an agent would write: "GRAND CORNER 2BR AT HISTORIC ONTARIO IN BEAUTIFUL PARK"LIKE SETTING. HUGE OPEN LR & SEP DR. BIG SUNNY WINDOWS W/ REMARKABLY LOVELY VIEWS. GREAT BALCONY. 10' CEILINGS & HEART PINE FLRS. KITCH IS BLANK CANVAS! PETS OK. WOODLEY & COL HTS METRO. IMMED ON"SITE PARKING AVAIL $75/MO. OPEN SAT & SUN, 7/22"23, 1"4PM." MLS#: DC6126227 ALEXANDRIA 674 COLUMBUS ST #8 $649000 Bedroom(s): 3 Full Bath(s): 2 As only an agent would write: "Sparkling end unit with generous closets, numerous built"ins, wood floors throughout. Delightful patio, easy access to garage parking and within an easy walk of shopping, restaurants, river and parks." MLS#: AX6126279 SILVER SPRING 13207 OSTERPORT DR $660000 Bedroom(s): 5 Full Bath(s): 3 As only an agent would write: "Fabulous home on one of the best lots in Tivoli!Bright,2 story family room w/ palladium windows,fp,French doors to rear screened porch overlooking beautiful woods & common area.Full fin w/o basement w/5th BR & FB!Kit has ceramic tile,island w/cooktop dwndrft stove,& double ovens.Large master w/ cathedral ceiling.New roof still under warranty. Walk to metro!" MLS#: MC6124281 ALEXANDRIA 2121 JAMIESON AVE #1801 $675000 Bedroom(s): 2 Full Bath(s): 2 As only an agent would write: "The view is the ACTUAL view from the unit itself. Spctacular panoramic views of DC skyline, Potomac, and Masonic Temple from every room of this large 2 bedroom 2 bath condo with sunroom open to living space (not included in square feet). Extensive, high end renovation makes this the nicest unit this luxury high"rise has to offer! Open House Sat.& Sun. 7/22 & 7/23 1:00"4:00 P.M." MLS#: AX6129580 WASHINGTON 1039 7TH ST NE $679500 Bedroom(s): 3 Full Bath(s): 3 As only an agent would write: "Two houses for the price of one! Corner wide 3 br 3 bath Federal w seperate 2 story rear self contained guest house. Garden is enormous, maintanence free Wild Life Retreat, w 2 car parking. This beautiful landscaped rear is twice the size of most large yards. 2 blocks south of Historic Galludet College. Stunning Renovation! Must see!" MLS#: DC6127313 WASHINGTON 1425 RHODE ISLAND AVE NW #51 $699000 Bedroom(s): 2 Full Bath(s): 2 As only an agent would write: " This unit delivers all elements that make Abdo Development's work so notable in DC. Abundant closet space, finished in place hardwood floors, solid core doors, and pre"wiring for stereo systems make this unit a one"of"a"kind." MLS#: DC6123190 WASHINGTON 2628 MORELAND PL NW $725000 Bedroom(s): 3 Full Bath(s): 2 As only an agent would write: "Great buy in Chevy Chase on quiet cul"de"sac behind St. John's High School. Total renovation, all new appliances, new baths, 2 fireplaces, hwf, w/w carpet in full finished basement, new w/d, cedar closet, ceiling fans, patio, fenced rear yard and garage. A must see!! Call my cell, leave message and show. " MLS#: DC6129651 WASHINGTON 1307 T ST NW #3 $749000 Bedroom(s): 2 Full Bath(s): 2 As only an agent would write: "open 7/23 2:30"4:30. Spacious, two level. unique loft"style duplex. Bright southern exposure, 2BRSs (incl MBS with fireplace). Open granite,SS KI, soaring ceilings, oversized windows, hardwood floors lux BAs and exposed brick all leading to private deck, off"street gated parking" MLS#: DC6128679 CHEVY CHASE 4601 PARK AVE #1111"L $799000 Bedroom(s): 3 Full Bath(s): 2 As only an agent would write: "Rare opportunity " 3br or 2br+den, the space your buyers have been looking for at a reasonable price. Compare to Somerset prices or new construction, all in a very well established building with excellent management. Remodeled in 1998 and barely lived in since. Spacious kitchen, wood floors, marble floors in baths, walk"in closets, double north/south exposure, large balcony, indoor pool, much more" MLS#: MC6127954 WASHINGTON 307 D ST SE $850000 Bedroom(s): 3 Full Bath(s): 3 As only an agent would write: "LOCATION! 2"unit home 2.5 blocks from Metro. Main home= 2BR, 2.5BA, Hrdwd Flrs throughout, Lrge tblspc Kit, Sep DR, LR w/FP, 2 Master BRs, 2 Parking Spaces, New roof. 1"BR aprtmnt is all above ground & renovated. Lwr unit month"2"month lease w/exlnt rental history." MLS#: DC6126023 WASHINGTON 6408 UTAH AVE NW $860000 Bedroom(s): 4 Full Bath(s): 2 As only an agent would write: "Set on a hill against a glorious backdrop of Mature trees this 3/4 BR home features a Fabulous Backyard (Huge, Lush and Private!) New Stainless/Granite TSKit, 4 Fin Levels with great flow, LR w/FP, Form DR, Screened Porch, Big LL RecRm w/FP, Beaut Hardwood Floors, New (2004) 2 Zone CAC. 7/25 OPEN SUNDAY (7/23) 1"4" MLS#: DC6125879 WASHINGTON 926 WESTMINSTER ST NW $975000 Bedroom(s): 5 Full Bath(s): 3 As only an agent would write: "Elegant Victorian row house w/orig. hardwood details, solid presence and character. Picturesque block across from charming neighborhood playground. GRAND pocket"doors, mantles, high ceilings, large MBR & BA. Finished attic. OSP. 2 BR Engl. bsmt apt. w/C of O! Currently rented for $1100/mo. 1 1/2 blks from Metro & U Street! Add your finishing touches to make this your dream home!" MLS#: DC6124590 ARLINGTON 1202 DANVILLE ST N $1179000 Bedroom(s): 3 Full Bath(s): 3 As only an agent would write: " Best Location in Clarendon Park. End Unit, Rare Prescott model with DRIVEWAY. Loaded with upgrades. Beautiful curb appeal. 3 bedrooms/3 full and 2 half baths. 4 levels. 2 gas fireplaces. Gourmet Kitchen, Stunning master bath w Soaking Tub,. California Closets in Master Bedroom. 2 car garage with RARE storage room." MLS#: AR6124206 To see photos, more information and scores of other listings by all agents who are members of the Metropolitan Regional Information Systems, please visit our website at http://www.ServiceYouCanTrust.com, then use the quick search panel in the left navigation bar or click the "Search Properties" link at the top of the page. To view details on a particular home listed above please note the MLS number. Click Here to Sign Up For Your Free Issue of Realty Digest! Contact Information email: info@ServiceYouCanTrust.com phone: 202.537.6000 web: http://www.serviceyoucantrust.com © 2006 Service You Can Trust Long and Foster Real Estate, Inc® Chevy Chase Uptown Office | 202.364.1300