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

April 16, 2008

Chevy Chase Up or Down?

Here is something about the trickiness of real estate statistics: last month I looked at the MRIS data for Chevy Chase (zip 20815) and the market seemed to be holding strong compared to neighboring areas. This is also what others seem to be saying. Looking at the March overall stats, it is harder to tell.

At first blush it looks like the area took a nosedive compared to one year ago, with dramatically lower average list and sold prices (more than 30%). Yet the average days on the market for all properties has dropped from 91 a year ago to 75. Also, there has been a noticeable absence of price reductions in this area over the past couple of months compared to Bethesda or Silver Spring. This could mean that real estate agents in Chevy Chase are just better at pricing - but somehow I don’t think that is the explanation! My conjecture on the stats is, and I welcome other interpretations, that all the new condos on the market in the last year have had an impact on averages where expensive single family homes have always reigned supreme.

The only reduction in the last week that I found was for a condo in The Willoughby at 4515 WILLARD AVE #1716S, now listed at $329,000 instead of $340,000. It is a 1-bed, 1-bath unit of 869 sqft, in a 25-year-old building . That puts it at $379/sqft, which is in the range for a few comparable buildings in that area (it is much higher for the new luxury condos). It includes garage space, pool and rooftop deck, and requires a monthly fee of $519 - not out of line for the area but you’d have to look at the details. At least 5 units have sold in the Willoughby in the last 6 months for an average of $348/sqft. It is a couple of blocks from all the new development at Wisconsin Place (Bloomie’s, new Whole Foods, luxury rentals, community center, restaurants) which in my view makes it more desireable for urbanites than it was a few years ago.  And of course, it is close to the Metro.

You can look up more condos in this zip code on Redfin by filtering out the houses. For all Chevy Chase searches I recommend you search by zip code and not by the name “Chevy Chase” which brings up all sorts of little sub-areas and you have to look at them separately. I have notified Redfin about this and they have promised to look into it. Chevy Chase has lots of funky little incorporated towns which matter when it comes to where you send the check for monthly refuse fees but it doesn’t help in the general house search! 

Cheers,
Allison

April 13, 2008

A Bunch of Clowns on Bradley

Do you ever go to Bradley Shopping Center? It is a retro-looking (read 70’s ugly) but loveable little strip mall on the corner of Bradley Blvd and Arlington Rd, just steps from Bethesda downtown and on the edge of Chevy Chase. This is where I take my kids to the barber and get craft supplies at Bruce Variety or hammer and nails at Strosneider’s. Yesterday the strip hosted an annual celebration, with clowns, free ice cream, live music and popcorn - reminding us that it still has neighborhood heart. There are a few open houses today that are close to the action, and relatively affordable for the area ($520-850k), so check them out below.       

The house pictured here is very close, at 5108 FAIRGLEN LN, listed at $848,000.  It is on a quiet, pretty street, also pictured here. With bed/4 Bath. Quiet street just steps from Bradley Shopping Center. Open 1:00-4:00. There is also another house for sale on that street.

Two townhouse condos are also open nearby in the Kenwood Forest area. I have mentioned these before as a great option for familes and others who love the Chevy Chase/Bethesda area but are put off by the high prices of single family homes. I have been in one of these units and they feel very much like regular houses, basement and all. And you can’t beat the location. Check for other units on the market. Prices seem to have come down slightly from a few months ago.

-  4800 BRADLEY BLVD #198 (townhouse condo) - $520,000. This end unit house has 2 bedrooms and 2.5 baths. Condo fees are $197/mo. Its on a busy road but close to the park and amenities. Open 1:00-4:30.

- 6704 KENWOOD FOREST LN #54 (townhouse condo) - $549,990. This 3 bedroom, 2.5 bath home has reduced in price. Condo fees are $295.12. Open 1:00-4:00

If you’re out today - take a drive through the actual Kenwood neighborhood, entering off of River Rd. or Little Falls Parkway at Dorset. The best blossoms in the DC area are here and still on the trees!

Cheers,
Allison

April 4, 2008

Civil War in Westmoreland Hills

Children’s paradise? Yes. But you might want to brush up on your Civil War history if you are interested in the latest three listings in Westmoreland Hills. Besides being lovely, this area was home to Battery Kemble, part of the capital city defence system and protector of the urban water supply.

Westmoreland Hills Park is built on the old battery location. You can read about it and see photographs while your kids practice their monkey-moves on the playground or search for toads in the woods. If you are in an adult-only crowd, then take the opportunity to stroll down to the stream behind the park. Watch out for deer poop!

Below are the new listings, plus one house that reduced in price this week. A couple of them are actually “affordable” compared to the going rates, and may allow you to get into an increasingly exclusive setting.

New on the market:

- 5304 Ellliot Rd: 5 bed, 3.5 baths colonial at $1,460,000. This house is fully renovated and just down the street from the park. This is convenient for walking but you should know that park traffic is slow but refular on weekends.

- 4717 Jamestown Rd, 3 bed, 2 bath ranch-style home for $895,000. A good way to get into this neighborhood. Assets, from my point of view, are a flat yard and not too far from Massachussets Avenue where you can catch a bus! Also, walking distance to the park.

- 5408 Spangler Ave: 4 bed, 3.5 baths going for $1,395,000. This home is not as close to the park but it is on a very quiet street. It will be open on April 6 from 1-4.

Price reduced:

5218 Albemarle St: 3 bed, 2.5 bath now going for $895,000, down by $100,000. Much better price compared to what I am seeing lately.

Cheers,

Allison

March 31, 2008

Recent Sales - Silver Spring

If you were too distracted by the spring blossoms to notice the Washington Post’s real estate section this weekend then be sure to check out the very detailed maps and zip code information they showed for home value trands in each area of the DC region.

The Post compared prices in 2006 and 2007, and confirmed once again that this market is very different from one spot to the next. Silver Spring as a whole was up slightly over that time period.But, since any price trend review has to take a snapshot of a moment in time, the trend for the last few months might not be the same as for the year-to-year ending in December. I will look at the March-March trend for Silver Spring next week.

Also, I recommend two good articles on Saturday and Sunday on the process of pricing a house. They are informative for both buyers and sellers even if they don’t cite many of the online resources available to people to do some of their own research!

There are currently 250 single family homes for sale in Silver Spring, with an average of more than 90 days on the market. We are still seeing price reductions every week. Here are some recent sales and median sold prices by zip code. By the way, the blossoms our out in full force in Silver Spring too, so take a drive and enjoy.

March 27, 2008

Takoma Park Past Sales

Takoma Park has over 80 single family homes for sale at the moment. February’s closed contracts were slower by half compared to the same month last year (in terms of units sold), according to the MRIS. But January was not so bad. Perhaps things have started picking up again with more options on the market. We’ll see when the March stats come out.    

In the meantime, below is a list of sales in the 20912 zip code are over the last three months. I got it from MLS data listed on Redfin. Taking out the properties that listed “zero” as the sale price (I guess because they were transfers), I calculated the median sold price to be $435,000. The median square footage was 1,238 — but if Takoma Park is anything like the District of Columbia, the square footage listed in the property records can be, let me say, not quite reliable!

ADDRESS                       SQFT          SOLD         PRICE     YR BUILT
     
7537 CARROLL AVE      1676      1/25/2008     $807,500    1920
7315 FLOWER AVE        1176      1/18/2008     $725,000     1925
525 ALBANY AVE           1620      1/15/2008     $695,000    1923
7112 SYCAMORE AVE   1299        2/6/2008     $650,000    1921
7403 BUFFALO AVE       943        2/5/2008     $589,000    1981
12 VALLEY VIEW AVE  1346    12/31/2007      $529,900    1933
8101 FLOWER AVE       3534      1/11/2008      $525,000    1941
8000 CARROLL AVE     1714      1/25/2008      $520,000   1938
53 PHILADELPHIA AV  936         1/7/2008      $489,000   1923
707 BOSTON AVE          1259        2/7/2008      $445,000   1951
209 SPRING AVE            986      1/28/2008      $437,000    1921
6621 EASTERN AVE      1270        2/4/2008      $435,000   1923
6916 PR. GEORGES      1568         1/4/2008      $406,000   1957
6845 EASTERN AVE    1404         2/8/2008      $397,060    1930
212 MANOR CIR           1238       1/22/2008      $389,000    1937
8610 GREENWOOD     888        1/15/2008      $380,000    1934
8106 LOCKNEY AVE    1216          1/7/2008      $375,000    1950
1105 LANCASTER RD  1008       1/10/2008      $360,000    1940
7310 NEW HAMPSH.  1288          2/1/2008      $354,000    1946
6809 PR. GEORGES    1364        1/25/2008      $350,000    1942
6910 NEW HAMPSH.   1176      12/31/2007      $346,254     1941
8504 FLOWER AVE   1488         2/15/2008      $270,000    1927
7716 MAPLE AVE        2260         2/13/2008     $138,080    1951

Cheers - and happy hunting.

Photo credit to my fellow blogger Kira. (ok - I admit, it does not look much like Takoma Park but its all I could find in a pinch!)

March 21, 2008

SQFT Deals for Condos in Bethesda

If you are looking for a quiet condo community that offers a good deal in terms price per square foot then you may want to check out Sumner Village, pictured below. There are now three apartments on sale there at less than $300 per square foot. True, this is not the most up-to-date set of buildings, but they offer large windows, a wooded setting and lots of amenities (e.g. pool and tennis). Sumner Village is also within walking distance of a large shopping area at Sumner Square. And hey, that 70s look is back in again - all you need is a bit of imagination to make it hip!

Cheers,

Allison

March 15, 2008

New Homes Open in Glen Echo Heights

There are a number of new homes in Glen Echo Heights and surrounding areas resulting from tear-down projects. I have to say, they are beautiful, large and luxurious. The area is woodsy, quiet, and only a few minutes by car to the DC borderline on Massachussetts Ave.

Let’s take a look at a few. Three of them are open for viewing this Sunday.

- The 5 bed, 5.5. bath house pictured above is at 5100 Wehawken Rd. Listed at $2,095,000, it is much prettier in real life than in the picture - offering a warm, welcoming feel. On the outside at least, it seems top, top quality, especially with the natural wood garage door. I have not seen the inside other than peeping through the windows. The property is 12,000 sqft, with a sloped yard at the back. It is at the end of a very quiet street/cul-de-sac, with lots of room out front for basketball enthusiasts or kids at play. Around back I saw a deck off the main floor, and walk-out access from the basement. At the back, the side view of the neighboring house is not great but could be covered with bushes. This house has only been listed in the MLS for 12 days, but it must have been on the market before because a large price reduction is mentioned in the ad. Not open this weekend.

- Closer to Massachussetts Ave there is a 6 bedroom arts and craft house at 5410 Wehawken Rd. Listed at $1,925,000, it has been on the market for 2 weeks and will be open this Sunday from 1-4. The house includes 4 bedrooms on the second floor, 1 on the third, and 1 in the basement. One of my favorite amenities (among many) is the screen porch, which is a bonus in this mosquito-infested city of ours! There is over 6,000 sqft of living space and a double garage for all your outdoor toys, all on a 10,000 sqft lot.

- For $1,749,000 there is a beautiful 5 bedroom, 4.5 bath colonial at 6004 Walhonding Rd. It is a great family house with a library, mud-room, porch, flat yard, detached 2-car garage and lots of play space. It has been on the market for 2 months without any price reduction thus far. And although the MLS only has a drawing rather than a photo, personally this looks like my favorite from the outside. It will be open on Sunday from 1-4.

- In nearby Del Mar Park there is a new house at 5206 Belvoir Dr. Priced at $1,595,000, it has great curb appeal, with a sunny yellow exterior (I always fall for yellow houses!) The yard is not big at all - only 6,302 sqft. I guess that means fewer bushes to cut. At almost 5,000 sqft, the house has 7 bedrooms and 4.5 bathrooms. It has dropped in price 4 times since it was first listed last year at $1,845,000. It will be open on Sunday from 1-4.

Enjoy,
Allison

March 11, 2008

Renovated Chevy Chase, Past Sales

Ahhh - Spring is coming soon and this is the scene that will greet Chevy Chase residents as they cross the DC/MD border.  If that’s not good enough, yesterday I listed some stats showing that Chevy Chase (zip 20815) is still a strong market. Below are some home sale prices for the last three months through early February. But first, take a look at three premier new listings, all with enlarged floor plans.

- I love the charm of Victorian homes but they can also have small-ish rooms. The 5-bedroom house listed on quiet 3622 Raymond St has an amazing, large kitchen renovation and other new features. It is worth just looking at the picture, even if you have no intention of buying this $2.1 million house.  And best of all (for some of us) is the 10,000 sqft lot. It is open on Sunday, March 16.

- Walk to Metro from the 5-bedroom house at 112 Hesketh St listed yesterday. I don’t know how old the 2-story addition is, but it includes the kitchen, a family room and a fourth bedroom on the second floor. Open this Saturday and Sunday, it is listed at .

- In case you missed it this weekend, there is also a renovated home close to Norwood Park, the Crescent Trail, and downtown Bethesda, at 4872 Chevy Chase Blvd.  The 2006 updates include a beautiful kitchen with open plan family room, a master suite renovation, all new floors, etc. It is listed at $1,449,000.

Here are some past sales in the 20815 zip code:

3908 ROSEMARY ST        $2,200,000         12/31/2007
6205 KENNEDY DR          $2,000,000         12/21/2007
3703 WOODBINE ST        $2,000,000         12/17/2007
102 E MELROSE ST          $1,925,000             1/8/2008
6814 DELAWARE ST        $1,620,000          12/14/2007
6605 GLENBROOK RD    $1,600,000            2/6/2008
117 HESKETH ST               $1,500,000           2/11/2008
7303 MAPLE AVE              $1,267,000           1/30/2008
3707 UNDERWOOD ST    $1,265,000             1/9/2008
7006 DELAWARE ST        $1,250,000           1/14/2008
4103 STANFORD ST          $1,200,000          1/24/2008
33 QUINCY ST                    $1,200,000            1/2/2008
4829 LANGDRUM LN       $1,000,000        12/17/2007
4101 BLACKTHORN ST        $985,000          1/15/2008
4304 THORNAPPLE ST        $966,000        12/31/2007
6803 FLORIDA ST                 $900,000           1/8/2008
3525 WOODBINE ST             $889,900       12/17/2007
8910 CLIFFORD AVE             $870,000      12/27/2007
8304 DONNYBROOK DR      $851,000       12/11/2007
3701 BRADLEY LN                 $805,000       12/31/2007
4622 HUNT AVE                      $750,000       12/13/2007
4615 HUNT AVE                      $700,000          1/7/2008
7104 FLORIDA ST                   $699,000          1/8/2008
2620 SPENCER RD                 $650,000       12/17/2007
8501 FARRELL DR                  $630,000          1/3/2008
2803 BLAINE DR                     $625,000       12/14/2007
7602 LYNN DR                         $625,000         1/25/2008
2605 SPENCER RD                  $600,000       12/13/2007
2608 SPENCER RD                  $545,000          2/8/2008
8504 GRUBB RD                       $515,000       12/21/2007

Happy hunting,
Allison

Photo credit: Soulfull/cc

March 10, 2008

Chevy Chase Prices Hold Strong

When someone moves to Chevy Chase the question is often asked (by those in the know) “but, which Chevy Chase?” People who live there seem to be very keen on whether one is in “the Village” or “Section 5″ or some other area. Today I am going to treat everyone the same by looking at stats for single-family homes in the 20815 zip code as a whole.

This zip area is not yet the place for bargain shoppers. Average and median sale prices increased over the last year although the number of units sold shrank slightly. I suspect part of the increase in average sold prices is from the fact that so many homes have been made larger through renovation each year, adding to their value.

Take a look at the MRIS statistics below to see the February snapshot and trends compared to last year.

Source: Metropolitan Regional Information Systems, Inc. web site

Lets see how this micro-market holds up in the coming months. Tomorrow I have some past sales to list for this same zip code.

Cheers,
Allison