local real estate

This week's listings

Remax Town Center is a 1st class brokerage with offices in Montgomery County, Maryland.  Below is the current inventory of homes for sale, to hit over the last 7 days.  Give us a call with any questions or if you'd like to schedule to see them.

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14304 Round House Way 
Bowie, MD 20720

Offered at $455,000

Date Listed: April 4th, 2014
4 beds, 2-1/2 baths, 3,920 total sq. ft.

Click here to view ALL pictures

Virtual Tour AND online Floor Plans

Amazing stone-front, modern spacious home in Birchmere Landing, Whitehall school district. It offers wonderful privacy and peaceful surroundings. Sits on a huge half acre lot at end of dead-end street. Wide open space and premium playset in back. Enjoy company outdoors in this perfect setting, on your over-sized stone patio for cooking out.

3,920 total square feet. Gorgeous home includes maple “Mirage” hardwood floors throughout. Large sitting room off Master Bedroom. 1st class open kitchen with all the upgrades. Double oven, stainless steel

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933 Hillside Lake Terrace, Unit 110
Gaithersburg, MD 20878

Offered at $229,000

Date Listed: May 9th, 2014
2 beds, 2 baths, 896 total sq. ft.

Click here to view ALL pictures

Virtual Tour AND online Floor Plans

Gorgeous ground level condo in The Vistas at Washingtonian Woods. Enjoy the private patio or venture out into the wooded walking paths. Beautiful wood floors throughout, with large windows offering plenty of natural sunlight.  A wood burning fireplace is featured in the cozy living room, adjacent to the updated modern kitchen with granite counters and stainless steel appliances.  The master bedroom comes with a walk-in closet and updated bathroom.

Give us a call to schedule an appointment to view the property.

 


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Exciting Eckington in North East!
Bordered by Rhode Island Ave to the North, North Capitol St NW to the West, Florida Ave to the South and the Brentwood Metro Yard to the East you will find yourself in one of Washington Dc’s oldest neighborhoods, Eckington. Not to be confused with Bloomingdale, Eckington is a relatively quiet neighborhood in DC that was named after the village in which Joseph Gale Jr, the mayor in Washington DC from 1827 to 1830, was born.

Mr. Gale purchased a tract of land in what is now Eckington and built an estate on the land; later on in 1887 George Truesdell bought Eckington and began to develop the land into square blocks similar to what L’Enfant Plaza has planned. While Truesdell had ownership of Eckington he established a

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Bounded by Florida Ave to the south, West Virginia Ave to the West, Bladensburg Rd NE to the East and MT. Olive Rd NE to the North you will find yourself in Trinidad, no not the island, but the area in Northeast  Washington DC named after James Berry, a 19th century speculator.

Trinidad DC is considered one of the new up and coming area’s in Northeast Washington DC due to the fact that some people are priced out of H St which is a short distance from Trinidad. Like some places in Washington DC Trinidad is not without its stained pass however in the last couple of years Trinidad has seen a drastic change in the community. The area has become a magnet for young professionals looking to have nightlife close but not as close as it would in other places

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From 9th Street to the east to 18th Street to the west and Florida Ave to the north you will find one of the hottest and hippest areas of the nation’s capital, the U Street Corridor.

Revitalized and vibrant U St corridor home to some of the most recognizable DC land marks as well as new modern condo’s and updated rows homes. U Street has for a very long time been at the center of the Washington DC music scene. The Lincoln Theatre, Howard Theatre, Bohemian Caverns, just to name a few places are at the epicenter. The 9:30 Club, the Black Cat, DC9, U Street Music Hall, and the Velvet Lounge are all musical venues located within the corridor. U st. not only features fantastic musical venues, it’s also home to some of the trendiest restaurants in Washington

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2nd Seller to bail in last few months...

That's my headline.  It happened.  Again.
Both times in premier communities here in Rockville.  King Farm, and today the Fitz.

All was looking good.  My buyers put in a strong Offer.  With Escalation Clause, above asking price.
Significant deposit and downpayment.  We were 1 of 3 offers.

BJ I'm sorry, the sellers have decided to not sell their property.  They will continue to rent it out as an Investment.

There is a reason I'm seeing a lot of Investors and ALL cash buyers more & more.  The sellers also realized this.  It took going through all the motions and seeing the actual demand from other buyers, to realize they would have been letting go of a good investment. 

 

 

This business is tough.  Its

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Below are fees associated with your purchase on a $500,000 sales price
20% down= $100,000  *no mortgage insurance
$400,000 loan amount  *conforming loan amount

$750       -Title Company fees.  If Short Sale or Foreclosure, would be $1,250
$962        -Owner’s Title insurance (optional, but strongly suggested)
$1,023     -Lender’s Title insurance (required)

$120            -Govt. Recording Fees
$2,500          -*Montgomery County Transfer Tax (Split 50/50= $5,000 /2)
$1,250          -*State Transfer Tax (Split 50/50= $2,500/2)   $0 if First Time Buyer
$1552.50       -*Montgomery County Recordation Tax (Split 50/50= $3105 /2)
$195               -Survey. not done on condos
$35                 -Termite report.  Ask lender if required.
$75                

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I get asked all the time “What closing cost or down payment programs are available”?

On just about any sales price, a 20% down payment will do the trick.. along with good credit. The below programs are for those looking for low down payment options & assistance programs for closing costs and/or the down payment.

PROGRAMS

FHLB
–typically used with FHA financing, for 1st time home buyers only, this grant can be used towards your 3.5% FHA down payment requirement.
–For every $1 you put into the transaction, FHLB will match with $4 to a maximum grant of $7500.
–This allows an individual to purchase a property with as little at $1875 out of their pocket if their offer contract is negotiated with up to a 6% closing assistance credit as allowed with FHA from

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In this current real estate environment, more and more condo buildings have more Unit Owners who are 30 days or more late on their condo fees.

This is a problem for potential buyers of your condo.  Capiche??
I’m not referring to FHA approval for the development.
–FHA or Conventional or other programs require this Delinquency rate to be under 15%

We need to know this now.  Not 30 days into the process when our Lender sends the Condo Questionnaire to your Condo Management company, and our Buyer paid $150 to your Condo Mngmt co. just to fill out the questionnaire.

Pick up the phone.  OR have your Seller pick up the phone.  CALL the Condo Management company and find this information out.  While you’re at it, ask the Investor concentration as some Lenders

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