|
  Realty Digest
A Quirky Collection of News and Information
From The Service You Can Trust Team
**** June
17, 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
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
ONLINE VOLUME OF
EXISTING HOMES FOR SALE IS BOOMING: The number of previously owned homes listed
online for sale in the largest 100 metro areas in the nation
grew 60 percent from May 2005 to May 2006, according to an
analysis of homes listed online at the Realtor.com
property-search site, says Inman News. A survey, conducted by
Corzen, a real estate research firm based in New York City,
found that the inventory of homes listed in these metro areas
grew from 1.3 million 2.3 million. Median list prices were up
8.4 percent, while "in some parts of the country. . . median
asking prices showed steep declines, a clear sign of softening
with the real estate market," Corzen said. Asking prices for
existing homes dropped most in Florida, California,
Massachusetts and in Northern Virginia. The company's monthly
survey is based on a ZIP-code-by-ZIP-code analysis of homes
listed on Realtor.com - but, caveat emptor, only there.
IT'S NO LONGER A RENTER'S MARKET: So proclaims the Wall Street Journal in a piece
that finds landlords liberated in many markets to raise rents at
the fastest pace in years. They're also cutting back on the
goodies that previously helped lure tenants such as a free
month's rent or a free DVD player. Average effective rents - or
what tenants pay after taking concessions into account - are
expected to rise 3 percent this year, according to Reis Inc., a
real-estate research firm. Rents began picking up last year
after several years of softness. As recently as 2002, rents fell
1 percent. The pace of change varies greatly from market to
market. In its survey of 69 metro areas, Reis found 60 markets
with rising rents, with Florida's Fort Lauderdale, Palm Beach,
Miami and Tampa-St. Petersburg and California's San Jose topping
the list. It also found nine markets in which rents are flat or
falling, including Buffalo, N.Y.; Charlotte, N.C.; Denver, and
Omaha, Neb. It's partly a supply-and-demand issue. Years of
soaring house prices (and recent increases in mortgage rates)
have simply priced many people out of the home-buying market.
Indeed, the portion of U.S. households owning their own home
slipped to 68.5 percent in the first quarter from 69.1 percent a
year earlier, according to the Census Bureau. The higher costs
for rentals come as strong job growth in recent years has
boosted demand for apartments. At the same time, many apartments
have been converted to condos, reducing the availability of
rentals. Tenants forced out of units being converted to condos
often have trouble finding another apartment with a similar
rent. The squeeze comes as average vacancy rates dropped to 6
percent in the first quarter from as much as 7.4 percent at the
end of 2003, according to Property & Portfolio Research Inc.,
giving landlords more power to boost rents than they've had
since the beginning of the decade.
SENIORS SAY THE DARNDEST THINGS: If you're old enough to remember what Art
Linkletter used to say, then you'll appreciate the misstep by
San Diego's Downtown Residential Marketing Alliance, which found
that 56 percent of downtown's 30,000 resident were 50 or older.
Hoping to boost the population there, billboards emerged urging
folks to "simplify your life . . . live downtown," reports the
AARP Bulletin. No more big yard, three-car garage or other
trappings of suburban life, went the implied message. "We didn't
come downtown to simplify our lives," respondents told Lake
Research Partners. "We came downtown to enliven our lives, to be
where the action is." Said Bob Meadow, the firm's partner: "The
things people are interested in at 30 to 35 aren't really much
different from what they're interested in from 60 to 65." Well,
gee.
THE HOUSING BOOM IS COMING UNDER PRESSURE: That is the unsurprising conclusion of this
year's State of the Nation's Housing report by Harvard's Joint
Center for Housing Studies. As long as the economy continues to
create jobs and builders trim production to match slowing
demand, house prices will keep climbing and the housing sector
will likely achieve a soft landing, according to the report.
Although house price growth will likely moderate in many areas,
sharp drops in house prices are unlikely anytime soon. Major
house price declines seldom occur in the absence of severe
overbuilding, major job loss, or a combination of heavy
overbuilding and modest job loss. "Fortunately, these
preconditions are nowhere in evidence across the nation's
metropolitan areas," say the report's authors. One in 10
homeowners faces higher mortgage payments this year, said
Nicolas P. Retsinas, director of Harvard's Joint Center for
Housing Studies, adding that eight in 10 owners have no mortgage
or have a fixed-rate mortgage. And most owners with adjustable
loans have an initial fixed-rate period of three or more years.
Similarly, most interest-only loans extend for at least five
years, leaving ample time to move, refinance, or incomes to grow
before principal payments start coming due. Still, from 2001 to
2004 alone, the number of households spending more than half
their incomes on housing increased by 14-15.8 million. "The
paradox of today's housing market is that while more people are
building home equity than ever before, slow growth in wages for
households in the bottom three-quarters of the income
distribution is not keeping pace with escalating housing costs,"
the report maintained. "Amidst a housing boom, it is now
impossible to build housing at prices anywhere near what
low-income households can afford without subsidies." This year's
report also highlights the significant contribution that the
foreign-born and minorities will make to overall household
growth. New household projections incorporating higher but more
realistic immigrant assumptions suggest household growth will
accelerate to 14.6 million over the next 10 years from 12.6
million over the last 10. "Strong household growth, combined
with record incomes and wealth, will lift housing investments to
new highs next decade," allowed Eric Belsky, executive director
of the Joint Center. "Each generation is achieving higher
homeownership rates, incomes, and wealth than the one ahead of
it, with the leading edge of the echo baby boom now in their 20s
and the baby bust now in their 30s starting off on especially
high paths. This is despite the fact that each younger
generation has successively higher shares of foreign-born and
minority household heads with lower average incomes than
same-age native-born whites."
POOR HILARY (SWANK): The Greenwich Village town house of the actress
Hilary Swank and her husband, the actor-director Chad Lowe, has
come on the market with an asking price of $8.25 million,
according to the New York Times. The couple bought the
four-story, 17-foot-wide town house on Charles Street for $3.9
million in 2002. The house, which they renovated, has six
fireplaces, two full bathrooms and two half baths, in about
4,000 square feet. The listing comes after the couple announced
plans to divorce.
LENDERS ARE MODIFYING OPTION MORTGAGES: In a bid to lessen the impact of higher interest
rates, mortgage lenders are starting to tweak the features of
popular "option adjustable-rate" mortgages, which allow
borrowers to lower their monthly payments in the early years of
the loan, according to the Wall Street Journal. The retooled
mortgages such as those rolled out recently by IndyMac Bancorp
and American Home Mortgage Investment feature an extended
fixed-rate period before interest charges reset and, in some
cases, an option to defer repayment of principal for a longer
period of time. Lenders say the new products allow borrowers
more breathing room before the bigger payments come due. Some
analysts, however, doubt that the new bells and whistles can
actually help lenders reduce potential defaults among consumers
pinched by rising interest rates and softening home prices.
Often, the minimum payment remains fixed for 12 months, and each
year thereafter it changes to reflect the prevailing rate to
which the loans are pegged. With the new option mortgage offered
by IndyMac, a borrower can opt to have the minimum monthly
payment fixed for three years, five years or seven years, or
until the principal due reaches 110 percent of the original
balance. Once that "negative amortization" balance cap is
reached, the monthly payment has to be adjusted higher. The new
option mortgage from American Home Mortgage offers a fixed rate
for five years, enabling borrowers to defer repayment of
principal for as many as 10 years, even after the loan balance
hits the 110 percent trigger for recasting.
JOYCE KILMER WOULD NO DOUBT AGREE: Money spent sprucing up the yard with trees,
shrubs, lighting and patios is well spent - especially when it
comes time to sell the home, a new study says, according to
Realtor magazine. The report by Arbor National Mortgage found
that 84 percent of real estate professionals believe a house on
a treed lot would fetch at least 20 percent more than one on a
lot without trees. Another of the company's surveys suggested
that shelling out for top-of-the line landscaping may bring a
4-5 percent higher sale price and that below-average
expenditures will cost the home seller. The magazine offers
these tips: If you can't afford to hire a landscape architect,
check out the services offered by nurseries and big-box home
improvement retailers such as Home Depot; you can save about
half the cost of landscaping if you do the work yourself, but
keep in mind that large trees are often killed when carried
uncovered in the back of the buyer's SUV from the nursery to the
house, not because they are planted poorly; remember that a few
larger plants will have a greater visual impact than many small
ones; before planting trees, determine how large they will
become, what leaf pattern will develop, and what room damage
could occur if placed too close to a house foundation, sidewalk
or driveway.
MEGAN'S LAW AFFECTS PROPERTY VALUES: Federal law requires states to register
convicted sex offenders and make their names and addresses
publicly available, notes the Washington Post. At Columbia
University, economists Leight L. Linden and Jonah E. Rockoff
used the list of registered offenders in Mecklenburg County,
N.C. to study home values before and after an offender moved in.
"Houses within a one-tenth-mile area around the home of a sex
offender fall by 4 percent on average (about $5,500), while
those farther away show no decline," they reported in a working
paper published by the National Bureau of Economic Research.
GOLIATH, LOOK OUT FOR DAVID: Here come microhomes - typically, houses
spanning from a few hundred to a little more than a thousand
square feet, reports the Wall Street Journal. These houses, far
smaller than the average 2,400 square-foot home built in the
U.S. last year, contain most of the amenities of larger
dwellings, including kitchens and bathrooms. Many occupy just
two rooms, or sometimes two rooms plus a living area. Some
microhomes compensate for the small layout by capitalizing on
vertical space, custom-designing cabinets and furniture, raising
ceilings to build in sleeping lofts, or even using flat-roof
space as a deck or patio area. While the market for tiny houses
is still tiny itself, architects say they have seen interest
from buyers jump significantly in the past five years. In 2002,
Greg Johnson, an information-technology consultant in Iowa City,
co-founded the Small House Society, a group that champions
extra-small homes. He says he initially sent his newsletter to
seven people; today, he has about 260 individuals and
architectural firms on the list. For architects who are weary of
designing large-scale or cookie-cutter houses, building a
minihome offers the challenge of figuring out how to make every
nook and cranny count. Rocio Romero, who heads an architectural
firm in Perryville, Missouri, says she finds it rewarding to
make every space purposeful. A recent design for a
625-square-foot guest house uses a loft sleeping area and
built-in beds to create more room below. She added windows in
the loft and alcoves at the head of each bed with recessed
lighting fixtures to facilitate reading in bed. Architects and
buyers say two of their biggest challenges they face with tiny
houses are creating enough storage space and finding furniture
small enough to be squeezed into compact rooms. Sleeping lofts,
raised beds and underbed storage are staples. V2World uses small
European appliances, including a Miele 24-inch convection oven
and combination washer-dryer units, in its 450-square-foot,
one-room units. In-house designers at V2World build cabinets to
fit the units. Large windows make a little house seem less boxy.
Living in a tiny home, as opposed to doing yoga in it or using
it for vacations, often appeals to people who want simpler lives
that leave less of an ecological "footprint." Small houses
require less fuel for heating and cooling, fewer building
resources and are much easier to clean.
LOAN APPLICATION VOLUME GROWS: For the week ended June 9, mortgage activity
increased 7 percent on a seasonally adjusted basis from one week
earlier, reports the Mortgage Bankers Association. On an
unadjusted basis, the rise was 17.9 percent compared with the
previous week but was down 34.3 percent compared with the same
week of 2005. Seasonally-adjusted, purchase mortgage
applications grew by 4.8 percent from the prior week, and
refinancings increased by 10.6 percent. The refinance share of
mortgage activity increased to 35.7 percent of total
applications from 34.2 percent, and the adjustable-rate mortgage
(ARM) share went up to 30.7 percent from 29.4 percent.
WHY CAN'T EVERYBODY JUST GET ALONG: When Kimberly-Clark financed a couple of surveys
by Opinion Research to try to gauge what contractors and
consumers really think about one another, the picture that
emerged was not pretty, notes Realty Times. For homeowners who
have used a contractor in the last few years, the worst fear is
shoddy workmanship. Four of 10 respondents who had work done in
their homes in the last few years chose this issue over other
unpleasant possibilities such as contractors who make romantic
advances, break things, talk all day or even use the bathroom
without flushing. By contrast, a contractor's worst nightmare
was the customer who continually asks for work to be changed or
redone. This situation was followed by customers who don't pay
on time. Lower down on the contractor's nightmare meter were
customers who talk too much, who ask for work that doesn't
conform to building codes and even who threaten to sue. What
were the top three complaints that contractors and customers had
about each other? For customers: Work isn't started on time,
when the price of the job is increased after it's been started
or completed, and contractors who leave a mess and don't clean
up. For contractors: Customers who try to get them to do more
work without additional compensation, customers who don't pay on
time, and customers who try to renegotiate the price after the
job is completed.
IF YOU WANT TO SAVE ON HOUSING COSTS, TRY
ILLINOIS: Factory closures, a loss of industrial jobs and
falling incomes have resulted in dramatic home-price reductions
in Illinois's Vermilion County, 100 miles south of Chicago, says
the Chicago Tribune, according to the Wall Street Journal. While
bad news for area homeowners, the market's weakness is seen as a
boon by Chicagoans, some of whom have been purchasing vacation
or retirement homes there, the Tribune says. Among the buyers
are retired Chicago police officers and Ameritech (a telephone
firm) retirees, the article says. One of the most affordable
locations in the county is the Hoopeston/Danville area, which in
2005 had a drop in housing prices of 12 percent, the biggest
decline for any U.S. metro area. In the first quarter of 2006,
the median home price in Hoopeston/Danville was $52,500, the
lowest in the country, according to the Tribune.
ONLINE LENDING SITES ATTRACT FEW ACTUAL
APPLICANTS: Borrowers who applied online for home loans were
more likely to have used search and product select tools than
those who didn't ultimately apply, a recent study suggests,
according to Inman News. But very few online mortgage sites are
successful at getting visitors to apply online. Nearly one in
five online mortgage applicants used search, compared with only
7 percent of those who visited online mortgage-related sites but
did not apply, the study by Compete and Forrester Research
found. It observed navigational behavior from Compete's panel of
more than 2 million consumers between June and November 2005. Of
the three most successful sites at converting prospects to
applicants - LendingTree, Quicken Loans and Countrywide - only
10 percent of visitors to LendingTree, which had the most
success, filled out applications online. Consumers were found to
use Web sites to educate themselves on the process, but the
majority wants human assistance to complete the decision,
Forrester none too shockingly concluded. Also, online
fulfillment processes are "substandard," with discontented
consumers mentioning problems such as having difficulty getting
questions answered and confusion on how far along they were in
the process. Gen Xers, usually defined as those born in the
1960s to the early 1980s, and Baby Boomers are most likely to
research and apply for mortgages online, the study indicated.
For traditional lenders with a number of online prospects are
existing customers – 75 percent for Wells Fargo and 65 percent
for Bank of America.
THE GRASS CAN ALWAYS SEEM GREENER: Individual real-estate investors are seeking out
profits by snapping up rental properties far from their home
markets, observes the Wall Street Journal. Rents are rising in
metropolitan areas such as Orlando, Fla.; New York and Phoenix,
according to research firm Reis Inc., and vacancy rates are
falling in many cities. "These guys used to be local," says Dan
Fasulo, director of market analysis at Real Capital Analytics, a
research firm in New York. "They used to buy what they could
drive to. Now state lines don't matter anymore." Landlords in
California, for instance, are moving torrents of money into
Arizona, Nevada, Texas and other states. Many Californians
believe property values in their own market are peaking. So they
want to take profits there and invest in less-expensive areas
with better long-term prospects. Some of their favorite markets
are Phoenix, Dallas, Las Vegas, Atlanta and Seattle. Individual
investors and partnerships based in California acquired about
$7.6 billion of apartment buildings in other states in the first
quarter, up from $2.4 billion in the first quarter of 2004,
according to Real Capital Analytics. (The data include only
transactions of $5 million or more and exclude investments by
institutions, hedge funds and national real-estate companies.)
In New York State, the figure for out-of-state purchases rose to
$5.3 billion from $1.4 billion in the same period.
MORTGAGE RATES SUFFER A CASE OF FLUCTUATIONS: The 30-year fixed-rate mortgage (FRM) averaged
6.63 percent for the week, up a notch from last week's 6.62
percent and only one point above last year's 5.63 percent,
according to Freddie Mac. The average for the 15-year FRM was
6.25 percent, up slightly from 6.23 percent. A year ago, it was
5.22 percent. Five-year Treasury-indexed hybrid adjustable-rate
mortgages (ARMs) averaged 6.23 percent compared with 6.20
percent the prior week and 5.10 percent the previous year.
One-year Treasury-indexed ARMs were 5.66 percent this week, also
up from last week, when it averaged 5.63 percent. At this time
last year, it was 4.25 percent. "Mixed economic indicators are
causing some volatility in financial markets. This invariably
leads to the fluctuations in mortgage rates like what we have
seen recently," commented Frank Nothaft, Freddie Mac vice
president and chief economist. "Still, there has been no drastic
movement in mortgage rates and we see nothing on the horizon
that would bring about any extreme rise or fall in rates going
forward. Our economic forecast still indicates strongly that,
even with gradually rising rates, 2006 may well be the third
strongest year on record for housing."
Out and About
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Thirty-three
lockboxes say it all
For the uninitiated, lockboxes
are devices that real estate agents put outside of properties
for sale; they securely hold keys that only other agents can
obtain for access to apartments and single-family homes seeking
buyers. You can find 33 of them – lockboxes, not buyers -
arrayed on a chain-link fence outside a recently completed
condominium off Massachusetts Avenue a couple of blocks from the
Convention Center. The apartments to which they provide entry
have never been occupied; almost certainly without exception,
they went under contract months, even years ago, with investors
as purchasers. Now, they go begging.
The 33 lockboxes represent stark evidence that some folks
thought the enduring hot market would last forever. They are
proof that investing in real estate is not for amateurs seeking
to hop on a bandwagon that chugs ahead on a road bereft of
detours and potholes. Those lockboxes suggest that the investors
who were looking to make a killing by flipping are likely,
instead, to get killed by their losses.
To prospective buyers who held off in the belief that the market
would cool, the warm glow of vindication may color their cheeks.
But the persistent gusts of rising interest rates - which, after
all, have contributed perhaps more than anything else to the
return to a more balanced market – have chilled their passion
for purchase. Buyers are unlikely to experience much sympathy
for those investors now weighing whether to take their losses at
the closing table now or take them monthly with rents that fall
short of their expenses.
So it is that you can count on multiple open houses every
weekend, though not multiple offers, at that handsomely designed
condominium that is advertised, with unmitigated hyperbole, as
being in Logan Circle. Five of them were open last Saturday, and
they suffer from a blinding sameness. Think hardwood floors that
are dark or light, maple cabinets, granite countertops,
odd-shaped rooms, small bedrooms and curved halogen track
lighting. Imagine views that tend to be of other buildings
through tall windows; consider tiny balconies or, in one case, a
terrace atop the garage entrance; frown at kitchen cabinetry
that merely appears to be high end and at stainless appliances
that don't even pretend to be such; and guess where condos fees
ranging from the mid-$170s to the mid $270s will end up when the
developer departs.
Most important, ask yourself why, in this market, sellers
competing with each other would have the temerity to be offering
condos at around $500 per square foot. The answer is obvious:
They paid too much originally for those apartments, and they
can't stomach the pain of a loss. Thirty-three lockboxes speak
loud and clear. The owners of those units must be flipping out,
so long have their investments gone unsold.
Other properties that have been listed by various agents and
seen in past week:
- In Georgetown, a darkly decorated
two-bedroom, one-bath co-op with hardwood floors, high
ceilings, easy street parking and an older kitchen. Saddled
with an awkwardly shaped small living room in a cat-friendly
building, this 1,258-SF apartment does have a formal dining
room. The owners reduced the price from $675,000 to $649,000
after three weeks on the market, with a $698 monthly fee
that covers taxes, heat and assorted other expenses. The
owners are in no hurry to sell, according to the listing
agent, so they won't be disappointed when this unit
languishes for a much longer time.
- A pleasant one-bedroom Dupont Circle
co-op with hardwood floors, high ceilings and built-in
bookcases. Although the bath is cramped, the kitchen lacks
flash, the air conditioning comes from window units and a
parking space is not included, this 850-SF apartment in a
pet-friendly building is offered at a reasonable $369,900
with $625 monthly fee that covers utilities and taxes.
- In Chevy Chase, D.C., an immaculate
colonial with a beautifully landscaped rear yard,
well-proportioned rooms, detached garage, deck, walk-up
attic and powder room on the main floor. The three bedrooms
on the second floor share two baths, each of them with
period black-and-white tiles. Adjoining the reasonably
bright recreation room in the basement are a laundry,
quarter bath and a bedroom through which you must pass to
reach the walkout. It's a 70s kitchen with pantry,
serviceable enough but out of fashion. This home is listed
appropriately at $855,000.
- An attached rowhouse in the U Street
Corridor that needs a complete makeover. Including a dreary
and nearly unusable lower level that is imaginatively
described as an English basement, this home has four
bedrooms and two-and-a-quarter baths. Almost none of the
improvements over time were done right – e.g. that quarter
bath with a toilet on some sort of platform squeezed into
what may have been a hall closet, the SubZero in a laminate
kitchen, a washer that has to be rolled into place for use,
and the lime-green tiles in the single bath upstairs.
There's a skylight but no central air conditioning, and the
floors are in desperate need of refinishing. The one asset
this property has is the original woodwork everywhere. At
$749,999, this house is laughably overpriced – by around
$200,000.
- A colonial in American University Park
with three bedrooms and one and a half baths upstairs, a
finished attic now used an office, an unfinished basement
and a lovely added family room that is open to the kitchen,
which has been partially updated with granite but not new
cabinets or appliances. Sitting on a large level lot, this
home with detached garage has its charms, not counting the
pink clouds painted on the ceiling in the finished attic –
who could make this up? Still, the offering price of
$799,000 is in line with the market and bait for multiple
offers.
- In Columbia Heights, a newly completed
condominium with typical look-alike units. At least they
look nice, with good design that, for a change, does not
skimp on closet space. The apartments feature hardwood
floors, big windows (some with expensive glass bricks if
they are close to other buildings), attractive open kitchens
with Silestone countertops, stainless appliances and
excellent cabinetry, in-unit washer/dryers, airy spaces and
bedrooms that, as usual, are notably smaller than the living
areas. Ranging between 759 and 870 square feet, the
one-bedroom units are listed between $384,900 and $399,900
and have monthly fees around $200, with parking for sale.
The two-bedroom units are 900 to 1,141 square feet and have
fees between $220 and $276 but come with parking. Upgrades
such as tub glass and pendant lighting cost up to $1,200.
Per square foot, the one-bedroom condos are $460-507; the
two-bedroom units are $526-555/SF. For a transitional block,
that's a bit high.
- A Dupont Circle classic Victorian
rowhouse that seems to have tried the patience of the
owners, whose half-hearted attempts at renovation contribute
to an ambience of neglect and a sense that it will take lots
of money to make the place desirable. For example, the
poorly laid out L-shaped kitchen has new appliances that are
spaced far apart, cheap cabinets and the uncontestable need
for a smart center island. And between the second and third
levels is a staircase that has been partly finished.
Elsewhere in the house's more than 4,000 square feet, paint
has been slopped onto the walls. In all, there are four
bedrooms and three baths, including an English basement that
rents for $1,600 monthly. With a rear patio but no place to
park, the current owners rent a space next door for $150 a
month. All this would not be so bad if the price were not a
breathtaking $1.45 million.
- In Berkley, a breathtaking
six-bedroom, four-and-a-half-bath multi-level house with
heated pool, gazebo, soaring trees on a quiet street that
backs up to Battery Kemble Park, yet is a stone's throw from
numerous neighborhood amenities. There are walls of glass
looking into the verdant park, a movie screen that is hidden
in the ceiling of the master bedroom, enormous closets, an
expansive kitchen that is slightly out of date, five
fireplaces, a breakfast room, home office and marble in the
baths. This stunner is very well priced at $1.9 million.
- A completely renovated Logan Circle
condo that occupies the bottom two floors, as in English
basement, of an attached rowhouse that had collapsed on
itself. It is a nice apartment with three bedrooms, three
and a half stylish baths, an expensively equipped kitchen,
good light, even downstairs, and secure parking. The
hardwood floors are hickory, the ceilings are high, and
there is Bosch in the laundry room. But a master bedroom
behind the kitchen will not be to everyone's liking; and the
carpeted downstairs bedrooms, even if two are combined, do
not represent the height of fine living for buyers being
asked to shell out $1.135 million, or $600 per square foot.
This condo, which carries a $500 monthly fee that covers
only the master insurance policy and snow removal, first
went on the market while under construction half a year ago
and again at the end of April at $1.195 million. Now, after
three weeks at the new price, it is still too expensive.
- In Georgetown, a large colonial
overlooking Tudor Place – which must be the only explanation
for the exorbitant price. Yes, it has an outdoor swimming
pool in a gorgeously landscaped rear garden, a kitchen the
size of Minneapolis, five bedrooms, four and a half baths,
hardwood floors, a detached garage and a library. Built in
1980, this house, which seems to have been designed for
entertaining, also boasts a flawed layout, at least for one
that costs so much. For example, entry is into a spacious
hall flanked by two of the bedrooms, then up a flight of
stairs to the living area. Compared with the Berkley
property, in a decidedly less fashionable neighborhood, the
offering price of $3.45 million is ridiculous but apparently
aimed only at social climbers with seeking snob appeal and
snubbing sane judgment.
- A beautifully expanded red brick
Colonial in Wakefield on a large, level lot with fully
fenced patio and yard. Great features include an appealing
family room with cathedral ceiling, den, powder room, and
separate dining room on the first floor. On the second
floor, there is a master bedroom suite with full bath plus
two additional bedrooms and another full bath. The third
floor has a fourth bedroom, with sitting area and full bath.
The large lower level boasts a rec room plus laundry, half
bath and ample storage. At $924,900, this home is
attractively priced.
Alexandria Market Update
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Prices are
moderating
Condos and co-ops
The 293 condos added to the market last month represented a 47.2
percent increase over the previous May, with 208 of them massed
between $200,000 and $400,000. Increases ranging between 41
percent and 140 percent occurred at every level above $200,000.
Coupled with declining sales, the additional listings propelled
the supply curve to more than a 12-month high of 650 condos and
co-ops languishing on the market at month's end, 371 percent
versus 138 a year earlier. Except for an unchanged number of 17
new listings at $700,000-800,000, there was solid triple-digit
growth as high as 585.7 percent ($400,000-500,000) between
$150,000 and $1 million.
Sales plummeted by 46.7 percent to a level below March and April
and not even above most of last winter. The volume of ratified
contracts sank to 98 from 184, with the highest meaningful
decline at 68.1 percent, for apartments offered at
$300,000-400,000. The year-to-date numbers were little better,
falling 29 percent from the same time in 2005. Even with sales
of 215, the $200,000-300,000 price level was off 34.3 percent.
The market absorbed a paltry 13.1 percent of the available
condos and co-ops, yet prices remain above last year's, when the
average was $343,872 and the median, $325,000. This year, the
average is $360,877 and the median, $325,000.
Single-family homes
New listings of 253 homes during the month caused a 17.7 percent
increase over the previous May. The growth was uneven by price
level, from unchanged at $400,000-500,000 to double-digits as
high as 61.3 percent at $600,000-700,000. Below $400,000, there
were double-digit decreases, doubtless reflecting price
appreciation, and the number of homes put on the market between
$900,000 and $1.25 million went from 19 a year ago to 16. But
the level of $1.5 million or more soared 266.7 percent, from 3
to 11. By the end of the month, 483 homes were still in search
of buyers in comparison with 175 the previous year, a 176
percent increase. Between $400,000 and $1.5 million, supply
jumped in the triple digits - at $500,000-600,000, by 329.2
percent, to 103. There was a 93.3 percent increase at $1.5
million or more. Therefore, the inventory trend line has
continued its upward ascent since December.
A 24.8 percent decline in sales activity can be attributed to
change at various levels – some up and some down. Below
$600,000, sales volume went down in the double digits. At
$600,000-700,000, it climbed 9.5 percent, from 21 to 23. Then it
dropped at $700,000-800,000, by 40.9 percent, to 13. The next
level was unchanged at 12, but only three properties went to
contract at $900,000-$1 million in contrast to six a year
earlier. The six homes sold above $1 million produced triple the
sales of May 2005. Volume was roughly the same as it has been
since March and higher than every month since June with the
exception of October and, of course, March. Year-to-date sales
activity was off 18.8 percent. Every level posted negative
change except for weak increases at $700,000-800,000 and $1.25
million-$1.5 million as well as 26.3 percent growth, to 24 homes
sold, at $900,000-$1 million.
With an absorption rate of 20 percent, prices have now leveled
off from an average of $666,068 last year to $666,023 and a
median of $599,999 to $603,000.
What it all means
Too many properties that have come on the market seem overpriced
to prospective buyers. Some buyers are playing a waiting game.
Others are cherry-picking and finding themselves in a position
to conduct hard negotiations. They have shifted the balance
between buyer and seller. This year, for the first time, time is
on their side. But generally rising interest rates means that
they will face the same monthly payment for a property that cost
less today than it did yesterday.
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.
WASHINGTON
5406 CONNECTICUT AVE NW #604
$299900
Bedroom(s): 1
Full Bath(s): 1
As only an agent would write: "Large, Bright, Airy, & Clean. The
unit overlooks Conn. Ave from the 6th fl w/ views to the East,No,
& So. Kitchen has been completely updated."
MLS#: DC6082660
ALEXANDRIA
1339 VAN DORN ST N #1339
$319900
Bedroom(s): 1
Full Bath(s): 1
As only an agent would write: "EXCELLENT VALUE!!GREAT
LOCATION!!PRACTICALLY BRAND NEW...HARDLY LIVED IN**AWESOME CONDO
CONVERSION IN PARK-LIKE SETTING**LARGEST 1BR MODEL W/ALMOST 1100
SQFT**ENORMOUS KITCHEN W/MAPLE CABS, UPGRADED APPL PACKAGE,
LARGE B'FAST BAR**SEP LAUNDRY RM W/FULL-SIZED
WASHER/DRYER**EXPANSIVE WALK-IN CLOSET IN BIG OWNER'S
SUITE**PRIVATE PATIO IS PERFECT FOR BBQ-ING AMIDST COURTYARD
SETTING**SHUTTLE TO METRO"
MLS#: AX6081126
WASHINGTON
1934 CALVERT ST. NW ##2
$350000
Bedroom(s): 1
Full Bath(s): 1
As only an agent would write: "high end finishes, built-ins,
fireplace, jacuzzi tubs, stainless, granite, all units have
private outdoor space. Open sat. & Sun. 1-4"
MLS#: DC6089384
WASHINGTON
3701 CONNECTICUT AVE NW #618
$359900
Bedroom(s): 1
Full Bath(s): 1
As only an agent would write: "SPACE, LIGHT, AND LOCATION!
Lovely corner unit with city and tree views from 2 exposures.
Large (940 Sq Ft). Has wall of windows facing South, overlooking
lively Cleveland Park.Sep dining area, re-finished parquet
floors, fresh paint.Great building w/ extra storage, roof deck,
gym, front desk. Just one block to Metro! Fee includes all
utilities!"
MLS#: DC6081041
WASHINGTON
21 17TH ST SE
$369000
Bedroom(s): 2
Full Bath(s): 1
As only an agent would write: "You will truly enjoy this
beautiful end unit townhouse. HWF on the 1st flr & crown molding
thruout. The newly renovated kit. incl. granite, walnut cabinets
and new appliances. Private rear patio, deck off second bedroom
and CAC. Situated just a few blocks from the Metro, you have the
luxury of off street parking for 2. Close to downtown, shopping,
restaurants & The Washington Nats."
MLS#: DC6081548
TAKOMA PARK
7811 GARLAND AVE
$389000
Bedroom(s): 3
Full Bath(s): 1
As only an agent would write: "Sweet 2 BR 1 BA Bungalow
w/finished 3rd bedroom w/hardwood floor in lower level. CAC,
oversized (9,400 sq.ft.) tiered "secret garden" lot."
MLS#: MC6082841
WASHINGTON
2122 CALIFORNIA ST NW #156
$389999
Bedroom(s): 1
Full Bath(s): 1
As only an agent would write: "LARGE OPEN ELEGANT Priced to
SELL! Full-svc 24 hr doorman, elegant lobby. Large open plan
perfect for entertaining, 10ft ceilings, hardwood floors,
abundant natural light, cook's KIT, built-in bookshelves. All
appl included. Low co-op fees include ALL TAXES, utilities:
water, gas heat (radiator), electric, trash pick up at door,
building insurance, maintenance and custodial services. PETS
ALLOWED"
MLS#: DC6080475
WASHINGTON
1325 18TH ST NW #1011
$395000
Bedroom(s): 1
Full Bath(s): 1
As only an agent would write: "Renovated from top to bottom!
Bamboo hwd flrs, gorgeous kitch w/new stainless steel appli (incl
warr) & granite, upgraded bath, walk-in closet. 10th-flr city
views PLUS bldg has roof deck w/pool! All util incl in cc fee
(no pets). Guaranteed rental pking avail in bldg at discount.
Common area reno paid for & starting soon. 2 Blks to Metro."
MLS#: DC6082996
WASHINGTON
506 SEWARD SQUARE SE #B
$399000
Bedroom(s): 1
Full Bath(s): 1
As only an agent would write: "HISTORIC LOCATION! SPACIOUS FLAT
ONLY STEPS TO CAPITOL,SHOPPING,RESTAURANTS AND METRO ON CAPITOL
HILL! CHARMING OLD WORLD HOME RESTORED TO 4 UNIT CONDO BUILDING!
HARDWD FLRS, SOARING CEILINGS, OPEN FLOOR PLAN, PRIVATE BALCONY
AND MUCH MORE! THE BEST LOCATION AT GREAT PRICE AND LOW CONDO
FEE $175. LOW SQUARE FOOT PRICE!!"
MLS#: DC6084058
ALEXANDRIA
3802 KELLER AVE #148
$419000
Bedroom(s): 2
Full Bath(s): 1
As only an agent would write: "Beautiful well maintained
townhome set back in quiet Fairlington Towne. Warm hardwood
floors and neutral paint colors throughout.Light and bright
updated kithen. Unique and spacious first floor plan-kitchen
opens into dining area. Brick patio perfect for BBQ grilling and
relaxing!"
MLS#: AX6082617
SILVER SPRING
331 CRESCENDO WAY
$419000
Bedroom(s): 3
Full Bath(s): 2
As only an agent would write: "WELCOME HOME TO THIS AMAZING,
BRIGHT END UNIT TOWNHOUSE. LOOK AT THE VIRTUAL TOUR AND SEE HOW
SPACIOUS AND "MODEL LIKE" THIS HOUSE TRUELY IS. THIS HOME BOASTS
A DR THAT SEATS 6 +, FORMAL LR, KI IS LOCATED IN THE BACK OF THE
HOUSE AND IS OPEN TO THE FAMILY ROOM/EAT-IN AREA THAT LEADS TO A
DECK YOU WILL IMAGINE ENTERTAINING ON. FINISHED W/OUT BASEMENT
W/ F.P & ROUGH IN FOR TOILET, SEP LAUNDRY RM."
MLS#: MC6089193
WASHINGTON
506 SEWARD SQUARE SE #D
$429000
Bedroom(s): 1
Full Bath(s): 1
As only an agent would write: "HISTORIC LOCATION! TOP FLOOR 1BR
FLAT ONLY STEPS TO CAPITOL,SHOPPING,RESTAURANTS AND METRO ON
CAPITOL HILL! GRACIOUS OLD WORLD TOWNHOME RESTORED TO 4 UNIT
CONDO! HARDWD FLRS, SOARING CEILINGS, OPEN FLOOR PLAN PLUS HUGE
PRIVATE ROOF TOP DECK IN THE TREES. THE BEST LOCATION AT GREAT
PRICE AND LOW CONDO FEE $175. LOW SQUARE FOOT PRICE!!"
MLS#: DC6084192
WASHINGTON
1441 RHODE ISLAND AVE NW #405
$449000
Bedroom(s): 1
Full Bath(s): 1
As only an agent would write: "BETTER-THAN-NEW, Sun-Drenched
unit in SUPERB LOGAN CIRCLE LOC!3-yr young building w/FAB Lobby,
Daytime attended desk, GREAT GYM & Much More! Hdwd Flrs, Granite
& Maple Chef's KITCHEN w/42" Cabs & LOADS of space, Spacious LR
w/access to PRIV BALC, BIG BR w/WIC, 12" Cer Tiled BA, cust
lighting blinds, & Fixtures, X-Storage, bike room & GAR PKG!
Shows like a MODEL-show & SELL!!"
MLS#: DC6080571
WASHINGTON
614 LAMONT ST NW
$449000
Bedroom(s): 4
Full Bath(s): 1
As only an agent would write: ">>> 20K PRICE REDUCTION <<<
Fabulous home with 3 levels 3brs up and 1br down with gated
parking, beautiful architectural details, transom windows, wood
floors and exposed brick. Walk to the metro and the new 14th Str
shopping - new Giant, Tivoli Theater and coming Target...and
much more. Seller will provide a 1 year HMS Home Warranty."
MLS#: DC6090664
ARLINGTON
1921 QUINCY ST S
$449900
Bedroom(s): 2
Full Bath(s): 1
As only an agent would write: "Fabulous 2 br brick rambler with
renovated Eat-in Kitchen features Granite counters, Stainless
steel appliances, Maple cabinets, Ceramic tile floor & recessed
lighting. Walk out from kitchen to wood deck w/ built-in
benches. Fenced in rear yard with storage shed. Just minutes
from Shirlington shops and restaurants! EZ commute to DC."
MLS#: AR6088045
WASHINGTON
2630 ADAMS MILL RD NW #301
$479000
Bedroom(s): 2
Full Bath(s): 2
As only an agent would write: "This is what you have been
searching for. Spacious condo in Adams Morgan, wood floors,
renov. kit., W/D, 2 spacious full baths, Three exposures &
windows mean LIGHT! Top floor unit in charming, pet friendly
building. Approx. 914 s/f. Steps to nightlife, METRO, Rock
Creek. OPEN 6/17 2-4, 6/18 1-4"
MLS#: DC6091155
WASHINGTON
1621 T ST NW #101
$480000
Bedroom(s): 2
Full Bath(s): 2
As only an agent would write: "ABOVE GROUND LEVEL. Immaculate,
with designer paint, sparkling hardwood floors, open living
spaces, high ceilings. Central air, W/D in unit, good closets.
Great layout w 1br/1ba at each end: ideal for roommates.
Charming and pet friendly building in fab location. Sq Ft from
tax record. Handicap access. Security bars can be removed - no
others on this level have them. OPEN SAT/SUN 1-4."
MLS#: DC6087177
SILVER SPRING
1622 BRISBANE ST
$485000
Bedroom(s): 3
Full Bath(s): 2
As only an agent would write: "Wonderfully remodeled Brick
colonial walking distance from Downtown Silver Spring and metro.
Remodeled Kitchen, granite countertops, stainless steel
appliances and unique Brazilian Slate flooring. Beautifully
landscaped yard with large back deck and charming front porch.
Fully finished family room in basement with full bath. Quiet
sought after neighborhood. Open Sun 6/18 1-4pm"
MLS#: MC6089253
SILVER SPRING
13001 RHAPSODY LN
$499500
Bedroom(s): 3
Full Bath(s): 2
As only an agent would write: "This lovely colonial sits on the
most beautiful lot in Tanglewood. It backs to woods & feels like
a bird sanctuary. The deck has been newly treated & is totally
private & peaceful, away from traffic & other homes. The home
has been lovingly maintained w/ many recent upgrades such as a
roof, HWH, skylights,garage doors&openers, heat pump &
more.Truly a find"
MLS#: MC6081043
WASHINGTON
1840 CALIFORNIA ST NW #6A
$499900
Bedroom(s): 2
Full Bath(s): 2
As only an agent would write: "OPEN SUN, 6/18 1-4PM. Spacious &
Sunny 2BR/2BA unit at the Crescent. Fresh Paint, Refinished
Hardwood Floors, Balcony & Patio. Best of All GARAGE PARKING
SPACE CONVEY W/UNIT! Close to everything Adams Morgan & Dupont
Have to offer including Metro!!"
MLS#: DC6090479
WASHINGTON
1625 S ST NW #1
$519000
Bedroom(s): 2
Full Bath(s): 2
As only an agent would write: "Perfect location,Assigned parking
spot conveys,2 levels,Glass surround dining nook/office
space/south facing master bed/rm hardwd flrs,fireplc,en-suite
bath/2nd bd/rm w-ensuite ba.Powder room on living level.2
entrances to unit 1 through common area, 1 front door from S
street"
MLS#: DC6086281
ARLINGTON
1124 EDISON ST
$525000
Bedroom(s): 2
Full Bath(s): 1
As only an agent would write: "3 level, 2BR, 1.5BA brick/siding,
expanded & updated colonial.New windows, new brick-n-slate
walkway, new front door.New floor in kitchen and cherry cabs.
Updated electric.Spacious family rm off kitchen w/powder rm &
cozy woodburning stove.Refinished oak hardwoods on main & upper
levels.Freshly painted. Finished lower level rec. rm.Nicely
landscaped yard w/2 sheds. Rear, brick patio OPEN 6/18/06"
MLS#: AR6081809
BETHESDA
5101 RIVER RD #918
$549000
Bedroom(s): 2
Full Bath(s): 2
As only an agent would write: "A GRAND PRIZE AT THE
KENWOOD!!IMMACULATE SOPHISTICATED EUROPEAN STYLE 2BR CORNER
APARTMENT FACING GARDENS.GORGEOUS NEW KITCHEN INCL.GRANITE
COUNTERS AND CHERRYWOOD FLOOR.BATHROOMS HAVE BEEN UPDATED.DOUBLE
BALCONY WITH VIEW OF TREES.AMENITIES INCLUDE GAR.PKG.,POOL,GYM,SAUNA,24
HR.FRT.DSK.THIS IS A BEAUTIFUL APARMENT IN SUPERIOR CONDITION."
MLS#: MC6084909
POTOMAC
10921 DEBORAH DR
$554900
Bedroom(s): 3
Full Bath(s): 2
As only an agent would write: "This Carnation model, the largest
interior unit, has it all. Fabulous renovated kitchen! Beautiful
hardwoods! New termal windows & slides. Paneled doors. Fresh
paint. Large deck with stairs to fully fenced backyard with
extended patio. LL w/o Family Room with fireplace and great
built-ins. Close to shopping, schools, and all access roads.
Meticulously cared for and ready to move in!"
MLS#: MC6081430
BETHESDA
4813 EDGEFIELD RD
$569000
Bedroom(s): 3
Full Bath(s): 2
As only an agent would write: "Wonderfully located 3 BR, 2 Bath
SF in sought after Bethesda/Parkwood. Family room addition, FP,
eat-in Kitchen, replacement windows, HWD floors. Carport with 2
large storage closets. Patio and terrific, private back yard.
Walk to Metro, Rock Creek Park and elem. school."
MLS#: MC6084014
WASHINGTON
1522 FOXHALL RD NW
$575000
Bedroom(s): 3
Full Bath(s): 1
As only an agent would write: "Cute little rustic farm house
backing onto the Hardy Recreation field. An affordable price in
NW Washington DC. Great starter home or investor opportunity.
Very pretty perennial gardens with lots of pretty flowers."
MLS#: DC6084051
CHEVY CHASE
4840 CHEVY CHASE DR
$595000
Bedroom(s): 2
Full Bath(s): 2
As only an agent would write: "Open June 17th - and 18th.
Fabulous New Listing! Courtyard location in Kenwood Forest II on
the park side. Granite, Hardwoods, French Doors, Fireplace w/
Custom Mantle, Lovely Built-ins, Stainless Steel Appliances,
Bosch front load w/d..... too much to list. Don't miss it."
MLS#: MC6085897
ARLINGTON
230 GALVESTON ST N
$614000
Bedroom(s): 3
Full Bath(s): 2
As only an agent would write: "A classic brick 3 BR Colonial
which has been updated and remodeled to suit 21st century
homeowners. Office/den off living rm. Separate DR with chair &
crown molding. Kit just updated 06 w/granite, stainless appl.
Great screened porch overlooks spacious,level, private yard with
plenty of play & garden space. Bsmt finished 06 with bright rec
room and full bath. Less than 1 mile to Ballston"
MLS#: AR6090071
ARLINGTON
105 HIGHLAND ST
$650000
Bedroom(s): 3
Full Bath(s): 1
As only an agent would write: "Front porch character, a big lot,
& close-in neighborhood are a few of the sought-after features
of this vintage Bungalow w/8' ceilings/oak flrs/orig. bird's eye
moulding/ millwrk thru LR; separate DR; & ML BR. An updtd eat-in
Kitchen (w/SS appliances); a convenient .5 Bth/Laundry &
Office/Den complete the ML; UL MBR w/ charming nooks/crannies
(Sitting/Dressing Rm/Nursery)& equally large 3rd Bdrm"
MLS#: AR6089917
WASHINGTON
1247 35TH ST NW
$699000
Bedroom(s): 2
Full Bath(s): 1
As only an agent would write: "Just listed, circa 1886 renovated
in '04 from top to bottom, this bright 2 BR townhome features an
open floor plan with great kitchen (stainless appls. & gas
cooking), ventless gas fireplace, washer/dryer, wood floors,
attic, front and rear patio gardens. Cheerful abode in great
location; easy parking. Lovely tenants packing; please call.
Best priced 2 BR in G'Town!"
MLS#: DC6084165
WASHINGTON
3431 OAKWOOD TER NW
$719000
Bedroom(s): 3
Full Bath(s): 2
As only an agent would write: "Super charming and sunny 3
bedroom 2 bath Victorian on cute Oakwood Terrace! Fantastic
kitchen, big rooms, finished lower level with an unusual bath,
large rear deck and garden with potential for parking. Come fall
in love! Open Sun 6/18 1-4pm"
MLS#: DC6090869
BETHESDA
4604 JONES BRIDGE RD
$725000
Bedroom(s): 3
Full Bath(s): 2
As only an agent would write: "Brick colonial,full of charm &
character, in highly desirable Glenbrook Village. FANTASTIC
LOCATION! Steps to Metro, NIH, Naval Hospital, downtown Bethesda
with many fine restaurants, shops, theaters & more. Basement
completly renovated with new bath. Gorgeous fenced back yard
with deck, flagstone patio, fish pond and fountain. Open House
Sun. Jun. 18 from 1 - 4 pm."
MLS#: MC6085885
WASHINGTON
2705 RITTENHOUSE ST NW
$727500
Bedroom(s): 4
Full Bath(s): 2
As only an agent would write: "Terrific sidehall steps from Rock
Cr Pk, in fine cond w/all your buyers want: 4br, 2ba, sep dr,
gar, CAC, lovely level bkyd, deck, sunroom, bsmt has good ht
ceiling & 1/4 ba for future finishing. Move-in cond now and
ready for buyers' cosmetic touches. Open House Sun. 6/18 1-4."
MLS#: DC6089869
WASHINGTON
308 EAST CAPITOL ST NE #10
$749000
Bedroom(s): 2
Full Bath(s): 2
As only an agent would write: "STUNNINGLY SOPHISTICATED &
SPACIOUS 2BR, 2BA IN THE HEART OF CAPITOL HILL. ONLY THE FINEST
FINISHES GRACE THIS NEARLY 1800 SF GEM. LIVING ROOM W/ FP &
BUILT-INS, SPECTACULAR GRANITE KITCHEN W/ WINE COOLER & WET BAR,
SEP DINING ROOM, MBA W/ STEAM SHOWER, AMAZING CLOSETS, FULL SIZE
WASHER/DRYER, SLATE FLOORS, OUTDOOR PATIO, PARKING, BLOCKS TO
METRO/SHOPPING OPEN SATURDAY & SUNDAY 1-4"
MLS#: DC6082612
POTOMAC
10407 FLOWERFIELD WAY
$784900
Bedroom(s): 3
Full Bath(s): 3
As only an agent would write: "Beautiful, fully renovated
townhouse in highly sought after Potomac Glen! New HW floors &
all new carpet, granite countertops in kitchen & baths, custom
blinds throughout, all new stainless steel appliances, updated
bathrooms and completely repainted. Huge deck & fenced backyard.
Walk to pool, tennis courts & comm ctr. Great location! A must
see!"
MLS#: MC6081898
WASHINGTON
5506 UTAH AVE NW
$795000
Bedroom(s): 4
Full Bath(s): 3
As only an agent would write: "This lovely solid cape cod was
custom built for the orig. builder/owner. Light-filled w/lrg lr,
dr, w/built-ins, beautiful newer eat-in kit. w/granite counters
and Italian tiled floor, 2lrg BRs, 2full baths on the 1st flr, 2
br, 1 fb on 2nd. Finished rec.room. Screened porch, great
deck/yard. Attached two-car garage"
MLS#: DC6083452
POTOMAC
12412 WILLOW GREEN CT
$835000
Bedroom(s): 4
Full Bath(s): 2
As only an agent would write: "Welcome to this charming and
immaculate colonial in popular Copenhaver! This home is sited on
a fabulous large, level lot on a quiet, private cul-de-sac only
two blocks from the elementary school!! This wonderful home
features a 2-story Foyer; a step-down LR/DR w/hardwood floors; a
spacious FR w/hardwood floors, brick firepl and Office area,
eat-in kitchen and more! Truly lovely!"
MLS#: MC6089908
WASHINGTON
914 25TH ST NW
$880000
Bedroom(s): 2
Full Bath(s): 3
As only an agent would write: "WOW! New Price. Dramatic and
contemporary 3 level TH. Very open floor plan. Traditional
facade w/totally rebuilt interior. Inviting LR w/frpl., 1st flr
study. Spacious kit., separate DR. Owners' suite w/bath & ample
closets. Hwds, recessed lgtng, skylights. Superb storage thruout.
Private patio & garden. Walk to Waterfront,G'town, downtown &
Metro. Open 6/18, 1-4."
MLS#: DC6086565
ALEXANDRIA
1310 CLEVELAND ST
$885000
Bedroom(s): 3
Full Bath(s): 2
As only an agent would write: "Wrapped by lush landscaping, wide
deck & fenced yard, this 3-BR beauty offers a wide-open gourmet
kitchen, family room w/vaulted ceiling, 1st floor den & lower
level rec room, flowing floor plan, wonderful storage and slate
roof, all in a premier location walking distance to shops &
schools.Open House 6/18 1-4 PM."
MLS#: AX6090579
WASHINGTON
3544 BRANDYWINE ST NW
$924900
Bedroom(s): 4
Full Bath(s): 3
As only an agent would write: "Nicely expanded brick Col on a lg
lot w/ fully fenced patio + yard in Wakefield/NClPk/Tenley.
Great features incl FR w/ sensational cathedral ceiling/fp/wetbar/fridge,
den, half bath, + sep DR on 1; MB w/ FB + 3 other bedrooms and
two full baths up; lg lower level w/ fun 50s rec rm + laundry
and ample storage. CAC, hdwds. Fab location! Virtual Tour at
www.ServiceYouCanTrust.com Open 6/18 2-5"
MLS#: DC6089309
WASHINGTON
6314 28TH PL NW
$969000
Bedroom(s): 4
Full Bath(s): 3
As only an agent would write: "Spacious and exquisitely
renovated on more than 1/3 acre, secs to Rock Creek. Gorgeous
split level 4BR, 3 updated BA. Open spaces for entertaining,
elegant crown molding, incred. bonus room, WBFP, warm hdwd flrs,
and a brand new cooks kitchen with custom tile and cabinets are
just a few of the highlights. Stop and see this one or you will
miss something special.Open 6/11, 1-4"
MLS#: DC6084306
WASHINGTON
1400 CHURCH ST W #611
$995000
Bedroom(s): 2
Full Bath(s): 2
As only an agent would write: "DC Living at its best! This
beautiful new constr. PENTHOUSE loft in Logan/Dupont area
features: 2 bedroom/2 bath w/ private 450 sqft roof terrace w/
incredible views of the city!! Balcony on main & third levels.
Bamboo flooring. Deeded parking. Integrated alarm system. All
stainless steel appl. & Italian cabinetry by Scavolini in rich
Cherry wood. Half block to P st. retail, incl Whole Foods."
MLS#: DC6086604
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 bottom of the page, or "Listings" link in the left
navigation bar. 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
     
|
