June 14, 2008

SFH: Charm and Metro for Under $450,000

A while back I did a blog entry called “Close to DC for under $500,000” about single family homes in Takoma Park. Today I decided to get choosier and focus on the same audience, but for Silver Spring. This is so close to DC that you urbanites should keep reading.

This is for people and families who like the Metro, and who want older, close-in, walkable neighborhoods but find DC prices to be impossible. Do you need your Whole Foods and Starbucks? Want to walk or bike to the Metro? You can do it in fast-developing Silver Spring. Watch out Arlington!

Using the Redfin search I found many houses for sale for under $450,000. Below are a few of them. My main criteria, besides location, were that they should have at least 3 bedrooms and some sense of charm jumping out at me from the MLS photographs. In fact, the choice is much wider. These examples are all on the more expensive end of my search.

608 Wayne Ave - $449,000 - REDUCED - 3 bed/2 bath brick Cape Cod in the downtown area. Built in 1950, with wood floors and fireplace. The word “storybook” is in the description. Walk to everything. $10,000 in closing credit. Open Sun, 6/15, 1-3.

626 Potomac Ave - $440,000 - 4 bed/2 bath Cape Cod in Blair. The word “storybook” is also in this description, I think mainly related to the veranda and HUGE yard. It came on the market a couple of weeks ago and is still having some painting done, according to the listing. I guess the open house might come after that, if necessary.  

205 Hartwell Rd - $419,000 - 3 bed/2.5 bath Cape Cod in Highland View. In addition to the 3 bedrooms there is a newly refinished basement with an extra room. Walk to shops from this quiet street. Open NEXT Sunday, 6/22, 1-4.  

8713 Geren Rd - $439,900 - 4 bed/2 bath Colonial built in 194o, also in Highland View. This has 4 finished levels and a large yard. New flagstone patio, porch. Walk to shops.  Open Sunday, 6/8, 1-5.

As an aside, if you go a few miles away and just past the Beltway in Silver Spring, you can find 4-5 bedroom houses for under $400,000 in friendly, quiet neighborhoods. Past the Beltway is off my personal radar, so I don’t really cover it in my blog. I think Redfin is looking for people to write about these areas, however …. 

Cheers,
Allison

Photo: matthewbradley, Creative Commons license

May 23, 2008

B-CC Reductions: Location, Luxury, or Fix-Me-Up?

What a gorgeous weekend to get out there and scout for housing possibilities! Below are some different types of properties that have reduced in price. Are you most interested in a close-in location, a large luxury home, or a fixer-upper opportunity? They’re all here. I have included this as a “DC” posting because two of my choices are so close to the line that you urbanites might actually like them. If you want to track your own reductions by neighborhood you can do so by signing up for Redfin alerts.

CLOSE TO DC :

4960 Western Ave - $779,000, 3 bed/2.5 bath detached house pictured above, down from $799,000. This is in Crestview, on the Maryland side of Western Ave. and just on the edge of expensive AU Park. From here you can easily walk to Fort Bayard Park, or grab a sandwich at Western Market just a few doors down. The Friendship Heights Metro and shopping area are within walking distance too. Westgate Elelmentary School (public) is in this neighborhood. 

5019 Westport Rd - $1,349,000, 4 bed/3 bath colonial on a large lot. Just reduced from $1,399,000, this house is on a quiet street just across River Rd. from the house mentioned above. It is a couple of blocks from Willard Park in one direction, or the same distance the opposite way you get to Bloomingdale’s, the Metro and general Friendship Heights action. Besides the stores and restaurants, a new community center is being built there too. Open Sunday May 25, 1-4.
NEAR DOWNTOWN BETHESDA

5900 Kirby Rd. - $899,000 down from $949,000. This is a ”pristine” 4 bed/3 bath rambler with large, landscaped lot, in Pineview/Landon. I used to prefer colonials but I now realize that ramblers can be really nice and are a good option if you are thinking about expanding one day. If you have not checked one out, take a look. Open Sunday May 25, 1-4.

FIXER-UPPER

9401 Linden Ave. - $549,000, down from $599,000. This 2 bed/1.5 bath fixer-upper is on a large lot that could accomodate expansion. The property is in the heart of Maplewood/Alta Vista, which is between Old Georgetown Rd. and Rockville Pike, just north of the NIH. It is a typical family suburb with easy car access to Bethesda, I-495, Rockville, etc. - and close to the BCC-YMCA. 

NEW LUXURY HOME

9517 Kentstone Dr. - $1,299,900 down from $1,349,000, in Wyngate. This is a new 6 bed/5.5 bath home with lots of bells and whistles. It has been on the market for various prices since September. The listing agent says it is now the best deal in a new Bethesda home. There is no square footage information so it’s hard to know, but the pictures are great. Also close to the BCC-YMCA, Beltway, etc. Open Sunday May 25, 1-4.

Cheers,
Allison

May 22, 2008

Upper Wisconsin Ave. Condos, Past Sales

There are quite a few condo buildings on or near upper Wisconsin Ave. traveling from the Friendship Heights area of D.C. up through Chevy Chase and Bethesda. I have been ogling this one at 4301 Military Rd., N.W. ever since it went up. I love the architecture, the green lawn and the location, right next to the Friendship Heights Metro and behind Chevy Chase Pavillion. 

At least two apartments are selling in this building at a good discount from the original prices, so I want to pass this news on to any lucky duck who can afford them! When it was first built I swear the developer was advertising units “starting at $990,000″ or something close to that.  The building is on the D.C. side of Western Ave. overlooking the canopied entrance to Friendship Heights/Chevy Chase.

More construction is underway across the street (kitty-corner) from this building, next to Bloomingdale’s, but I understand the housing component will be luxury rentals. Plans for a new condo building on Wisconsin Ave. next to the southern Metro exit seem to be stalled. I wonder if/when the GEICO parking lot area will go under the bulldozer, as it also seems to be prime real estate for more housing. 

Here’s some data on recent condo sales on the Maryland side of this corridor, since this is where most of them are for now. The average price per sqft is over $500 but condo fees vary (generally $500 - $900 a month).

May 7, 2008

What You Get: Under $800k in Bethesda

I hear about a lot of hand-wringing over the high median price of homes in Bethesda - somewhere up over $900,000. Remember, this is a median, meaning half of homes are higher in price, half are lower. Don’t get scared away before you’ve started looking. A scared buyer was the inspiration behind my recent blog entitled ”Close to DC for under $500k.” But since she was focused on Bethesda, let’s just take a look.

Yes, Bethesda is way more expensive than Silver Spring or Takoma Park. But what exactly do you get for, say under $800,000, when you’re inside the Beltway? Actually, you can get quite a lot depending on where you live. In many of the areas around the National Institutes of Health and Suburban Hospital, for example, there is usually a supply of houses in the $650-$800,000 range. These can be standard 3-bedroom colonials, ranchers, cape cod and a few townhouses. Some may even include some renovation. Many have great locations close to the Metro, downtown Bethesda, special schools (like the French school), or the YMCA. Further below are a few such homes that have recently reduced in price. I like the Alta Vista one in particular.

If these prices are pushing out of your range, or if the houses just seem too small compared to the McMansions popping up around them, try this: list all the reasons you want to live in Bethesda and then measure these reasons honestly in terms of the quality of life they will bring to you compared to other comparable areas (try Silver Spring or certain parts of Virginia).  Then, think about the pros and cons of living in a smaller home versus a larger one. Trust me, there are plenty of pros to a smaller house if you are willing to forgo the initial ego boost of a large one.

If you still want Bethesda, then get to know the neighborhoods first. Then take heart that we seem to be seeing more price reductions in the (relatively) lower ranges:

Selected Recent Reductions under $800,000

Alta Vista
5203 ELSMERE Ave - $699,000, 3 bed/2.5 bath Arts & Crafts-style house. The photos show it to be beautifully decorated and the listing says it is in “pristine condition.” Built in 1941. Price is down from $749,500.

Glenbrook Knoll
8314 NORTH BROOK Ln - $525,000, 3 bed/2.5 bath townhouse. Was $545,000 and trying to sell since December.

Glenbrook Village
4500 JONES BRIDGE Rd - $669,000, 4 bed/2 bath Colonial that is close enough to walk to B-CC High School. Corner lot, new kitchen. Was priced at $699,000. Open Sunday the 11th, 1-4. 

Hillmead
8811 LOWELL St - $775,000, 3-4 bed/2 bath Cape Cod. Nice family room addition (award-winning, apparently), nice kitchen and ground-level deck. Built in 1951. Was priced at $799,000. Open Sunday May 20th but I don’t know what time. Check the listing closer to the date.

Cheers,
Allison

May 1, 2008

Bank-listed Properties in our ‘Hoods

I have mixed feelings about covering foreclosed homes for sale. There have been several of them in Silver Spring over the last few months but fewer, it seems, than in NOVA. It is still rare in Bethesda and Chevy Chase. It must be very sad for the former owners. At the same time, someone is going to buy these houses and they can be great deals if you can wait out the long bank process.

The Bethesda house below is at 5810 AUGUSTA LN, just one block from Massachusetts Ave, in Glen Mar Park, close to the Glen Echo Fire Station. It is listed at $630,900. I found it through Redfin, which has just added a foreclosures filtering capability to its search engine (a sign of the times.)

The house has 3 bedrooms and 2 baths. In late 2005 it sold for $710,000. Today, a 3-bedroom house for less than $700,000 in this zip code (20816) is rare. In this particular neighborhood - just 2 minutes by car from the DC line - it is almost unseen. I have not visited the house inside. From the outside it looks like some general love and care is needed (like painting the trim) but nothing major appears out of order. It is on a very nice, quiet street filled with well-taken-care-of homes. 

If you are interested in buying foreclosed properties, I strongly suggest you do your homework first - both on the house and the process. I understand it can takes weeks for a bank to respond to offers, and I have heard about problems with title clearance. If you want to work with Redfin, they can only represent you if the bank has hired a real estate broker to sell the property and it is listed on a broker site as well as any foreclosure sites. Read more about why, if you are interested.  If you negotiate directly with the bank, Redfin has a few words of wisdom about that too. Finally, the Washington Post and many web sites have articles on the purchase of foreclosed homes. Don’t forget to check the online discussions too. Do your research with sources you trust. 

Some Foreclosure Sales in Silver Spring (Inside the Beltway)

133 KINSMAN CIRCLE - $324,900, 3 bed/3.5 bath colonial townhouse in Northwood Park View.

917 PATTON DR - $379,000, 3 bed/2.5 bath rambler in Montgomery Knolls.

7911 FENTON ST - $398,900, 3 bed/1 bath colonial needing work, in Blair close to downtown Silver Spring.

9940 MOSS AVE - $405,000, 5 bed/2.5 bath brick cape cod in popular Indian Spring Park. All bedrooms are on the main and upper floors.

Takoma Park

712 BAYFIELD ST  - $348,000.  5 bed/3 bath brick Cape Cod in the Rolling Terrace neighborhood. Only one of the bedrooms is in the basement, two are on the main floor, two upstairs.

Cheers,
Allison

April 28, 2008

Close to DC for under $500,000

I was reading a “Mom” blog yesterday and came across someone who was depressed because she faced a trade-off between getting a much-needed larger house or lengthening her husband’s already lengthy commute to DC from Gaithersburg.  She was outraged by the “average median house price in Montgomery County of over $900,000.”

Okay. I get the problem - in general. I am not sure about that median price. But mainly, I don’t get why people don’t do a bit of research on neighborhoods in their own city. Or, even better, just get in the car one day and drive around for fun so that you know what’s on the other side of the fence. Who knows? You might like it. OR, maybe our idea of what constitutes a large house these days has become totally out of whack with what is sustainable and then we can never be happy. I choose the former.

So, I emailed this virtual acquaintance and told her about Silver Spring and Takoma Park (assuming she did not want to make the cross-country move to Virginia). At the moment, there are about 60 single family homes for sale in Takoma Park (MD) for under $500,000, all with at least 3 bedrooms.  Some of them are well under $500,000.  If you don’t know where it is, look at the red-outlined area above. You can’t get closer to DC than that and still take advantage of the Montgomery County school system!

This is a sweet neighborhood in many ways, from historic homes, to Metro access, to the farmers’ market and more. It has a reputation as a place for hippies - but you could do worse than having neighbors who love peace, knitting, and the environment. And in reality, you don’t have to wear hemp to fit in and have a good life there. But you may have to give up ideas of 3+ bathrooms and gourmet kitchens (unless you want to spend a little more). THAT is the real trade-off: giving up stuff that we don’t really need, to in fact have a much better life without the stress and cost (time and money) of a huge commute.   

Here are some houses that I think stand out as interesting, but it’s a buyer’s market and there’s lots of choice, so get out there and look!

My favorites:  

7500 Flower Ave - $499,000 - 3 bed/2.5 bath truly pretty Victorian with porch, large yard and close to park

225 Manor Circle - $479,000 - beautifully updated 3 bed/2 bath bungalow built in 1925.

7313 Trescott Ave - $465,000 - light-filled 3 bed/3 bath cottage with brand new basment. Close to park.

7201 14th Ave - $439,000 - renovated 3 bed/3bath colonial. Close to park.

Also see:

504 Ethan Allen Ave - $379,000 - 3 bed/3bath colonial w/porch - go to picture #15 in the MLS to see the front of the house - clearly the realtor doesn’t care much about selling based on these photos, but the house could be quite good once cleaned up. 

7306 Trescott Ave - $470,000 - 3 bed/2bath Cape Cod.

1007 Heather Ave - $499,00 - 6 bed/3.5 bath Rancher. Three of the bedrooms are on the lower level but if that’s what you need, then here they are. Large yard.

Cheers, Allison

April 27, 2008

FSBO: Lovely Colonial in Woodacres

This may be your dream house. This is definitely a house I am telling my friends about. It is a traditional, solidly built, 3-bed/2.5 bath colonial, on a FLAT corner lot in wonderful Woodacres, Bethesda. If you know this area, you know how rare a flat lot is. You also know how sought-after Woodacres is, especially for families with elementary-school-age children. The house is for sale by the owner, who is asking $815,000. 

My impression is that it is a better-than-average house for the area (may need some decorative updates inside - not sure.) Here’s the skinny, based on what I saw outside and my conversation with the owner. It’s more info than you’ll get on the MLS listing. Unfortunately, there are no interior photos there. Details:

- close to Massachusetts Ave bus line to Metro/downtown
- a few blocks from large park, playground, tennis
-”largest family room in the neighborhood” with French doors to 900 sqft patio
- fireplace and built-ins in living room
- dining room access to screen porch (if you’re a newcomer to Washington, trust me, you need it)
- more closet space than is typical for an original Woodacres home - on main and upstairs
- standard Woodacres kitchen, with upgraded appliances (2 years old)
- pedestal sink in one bathroom
- 2-year-old washer/dryer
- unfinished basement but it is painted 
- small triangle green space/park in front of the house
- if you have small children, the sidewalk on Massachusetts Ave nearby provides a place to walk with a stroller or small tricycle. Most other parts of the neighborhood do not have sidewalks, which people there don’t seem to mind but it is my only pet peeve.
- immediate occupancy

Woodacres is a close-knit neighborhood full of families, many of whom send their children to the respected Woodacres public elementary school. The owner tells me that outside his front door is the start of all the local parades: 4th of July, Hallowe’en, Christmas. Sounds like a lot of fun.

The area is nestled between River Rd and Massachusetts Ave, east of Goldsboro Rd, with easy access to the shops at Westbard and Ridgefield Avenues (Giant, Rite-Aid, Starbucks, American Plant, Whole Foods, Ledo’s, International School of Music, Strike Bethesda (bowling), etc., etc., etc.)

Unfortunately the house is not open today, although a few others in the area are, listed below. There is a lock-box on the house if you have a realtor, or you can call the very congenial owner at 301-602-9820 to make an appointment.

Other open houses nearby, for today: 

6001 GLOSTER RD - 3 Bed/3.5 Bath Colonial - $875,000. Open 1-4 pm.

6103 CROMWELL DR - 3 Bed/2.5 Bath Colonial - $839,000. Open 1-4 pm. 

6309 MASSACHUSETTS AVE - 3 Bed/2.5 Bath Colonial- $735,000. Open 1-4. 

1 BUTTONWOOD LN - 4 Bed/4.5 Bath Contemporary - $880,000. Open 1-4 pm.

Cheers, Allison

April 24, 2008

Silver Spring Reductions - Ready to Sell

Below are some reductions on single family homes in Silver Spring that I think are worth a look. The large one in North Woodside is going for under $175/sqft. Some of these houses are open this Sunday.

But first - take note, there is a choice property back on the market at 8106 Park Crest Dr in Sligo Park Hills. It is now going for $799,000. Perhaps a contract fell through - but for whatever reason, don’t miss it again. It is a fully renovated old tudor home in green surroundings. There are 4 bedrooms, 3 baths.

REDUCTIONS:

Fairway
206 University Blvd West - $399,500, down from $419,000. This colonial has 3 bedrooms, 1.5 baths, and looks from the photos like you could move in with little work.

Four Corners
120 University Blvd E - $429,000, down from $449,000. It’s a very cute Cape Cod with 4 bedrooms and 2 baths. The basement is not really finished but has a fireplace and great potential. I’m not sure why anyone would need parking for 5 cars - but it’s there if you need it!

Oakview
9636 Cottrell Terrace - going for $345,500, down by 50k. It is a 4-bed, 2-bath Cape Cod, and the MLS ad makes all sorts of claims about the fact that it is worth more. Make your own assessment, but it does look nicely fixed up from the photos. Open Sunday from 1-4.

North Woodside
A beautifully renovated, large home is back on the market for $744,900. It has 6 bedrooms and 4.5 baths and a gorgeous kitchen. Check it out at 2303 Seminary Rd, open this Sunday from 1-3 pm. At $169 per square foot I wonder if you could build it for that price ….

Sligo Woods
726 Dennis Ave - now at $340,000 instead of $349,900. It is a charming 2 bedroom, 1 bath rancher on the edge of Sligo Woods. The seller is offering closing assistance.

Woodmoor
10304 Brookmoor Drive - now at $524,900, down from $549,000. This is a quiet street near parkland. The house is a pretty, 3-bed, 2.5 bath colonial. 

Cheers,
Allison

April 22, 2008

Woodside Park Past Sales

Are you looking for a house in or around Woodside Park, Silver Spring? Listed below are some sales from the area over the past 3 months. It may also be time to look at several houses that have been on the market for quite a while. A few are listed here. Kudos to anyone who can tell me the name and location of the statue pictured here.

Past Sales

Take a New Look at These - Sellers Have Reduced Again

8800 Woodland Drive - fully updated end unit townhouse on the market for more than 200 days. 3 bed/3 bath, with new kitchen, stainless steel appliances, etc.  Now at $699,000 and the seller says “make me an offer.”

9104 Louis Avenue - 3 bed/2 bath bungalow with remodeled kitchen and 2-story great room. Looks sweet from the outside.  It has been on the market for over 100 days. Now selling at $499,900.

410 Deerfield Ave - further east, this 3 bed/2.5 bath colonial is open all day today until 8:00 p.m., after more than 200 days on the market. Now offered at  $499,927. 

Some of my other postings on Silver Spring:

Urban Silver Spring

Know Your Zip: Silver Spring Price Trends

Cheers,
Allison

Photo credit: afagen 

April 19, 2008

Get Dirty: Landscaping Costs and Benefits

It’s Earth Day on the 22nd, so let’s talk about dirt. Sellers already know that landscaping matters a lot to a home’s curb appeal and eventual price. Buyers should also pay close attention to this. Good landscaping costs a lot more than you think and it is more than just a cosmetic issue. I am speaking from personal (and costly) experience!

Take a close look at the design and age of the landscaping on your potential new home. Make an assessment, with questions such as:

- Are the shrubs well maintained or are they woody and in need of replacement soon?
- How good is the grading against the house (to prevent moisture/water in the basement)?
- How good is the drainage across the yard - and can it support the type of outdoors you are hoping for?
- Is this kind of work something that you can do yourself or will you have to pay someone to do it?
- Are there retaining walls on the property? Are they in good shape and do they allow drainage? 
- Are there areas that are in need of annual mulching to prevent erosion (which, once it gets going, happens quickly.)
- Is the lush green grass resulting from new sod placement just for the sale, and is the yard actually a good place to grow a low maintenance (and chemical free) lawn that you like? Can you be happy with alternative shade garden options?

Some things are just cosmetic, of course, and if you can wait to make those improvements, then just be extra friendly to your neighbors after you buy the house. Costly improvements include retaining walls, drainage, shrub replacement and pretty much everything I listed. Mulching of large areas is heavy work and can be several hundred (or more) dollars a year. And if you have lots of shade, prepare for constant work and money to keep that grass, or prepare to give in to nature and plant other shade-loving (non-invasive) ground cover or plants. Grass and trees just don’t mix sometimes. Check out the newly landscaped shady slope under the tree pictured above. 

You can learn more about working with nature on The Mall on Sunday where there will be lots of exhibits about greening our world. Small changes in your garden can make a big difference - from the birds and the bees to the type and amount of run-off that ends up in our rivers. For a great resource on organic lawn care visit www.safelawns.org. I heard one of their people talking on NPR the other day and it was really helpful. Take their “One Million Acre Challenge” by committing your lawn to 100% organic care. When they reach the goal, they will show this to the EPA and other agencies to let them know that we individuals do care - and are willing to make changes. 

Other great places for learning and planning include your local garden center, and lots of online resources. Check out these blogs to start:

GardentRant an opinionated site on organic gardening.

Calendula organic gardening on the edge of Washington DC.

Have fun and get dirty!

Cheers,
Allison