New Listing in North Cleveland Park - Totally Renovated duplex Wardman with 4/5 bedrooms and 3.5 renovaed baths!

4219 38th Street, NW Washington, DC  20016

List Price: $1,195,000

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The Best of Everything!

Barbara Nalls and Long and Foster Real Estate are very pleased to welcome you to this wonderful opportunity to own a completely “done” duplex Wardman - an early 20th century Washington DC classic known for their gracious proportions and remarkable building quality -  on one of the prettiest streets in popular North Cleveland Park. This special home, fully renovated by the current owner,  features 4/5 bedrooms and 3.5 baths on four beautifully finished daylight levels, an inviting front porch entrance, large flexible main floor rooms including a foyer area, formal living and dining rooms, a den / playroom / office, an open, totally renovated chef’s kitchen with high end fixtures and appliances, a powder room, and a cleverly designed mud room that opens to an pleasant expanded deck. Upstairs are three bedrooms as well as a sunroom and two completely renovated full baths. There’s a bright third floor that is accessed using a remarkable ‘ship’s ladder” stair and houses one of two laundries and is a perfect guest room nest. The lower level features a large open recreation room designed to accommodate separate living areas, a full wet bar / kitchenette, a renovated full bath, and a lovely sunny guest room that walks out to the patio (and outdoor shower!) lovely fenced yard with gated alley access and a detached garage. 

 

All this in beautiful North Cleveland Park with it’s shops, restaurants and other conveniences, and four blocks to the Tenley Metro station….Welcome home!

  

Additional Features

·  Natural gas hydronic heat and hot water / electric CAC 

·  Bedroom / 3rd floor closets fully built out with Elfa System storage organizers

·  Renovations completed 2011 -13

Lot: 13

Block:1893

Year Built: 1927

Lot Square Feet: 3,745

Approximate Square Feet - Total: 2,500 (per Truplace)

 

Live in North Cleveland Park!

Part of the original tract of land on which President Grover Cleveland built his summer estate in the 1880s, North Cleveland Park is best known today for it's gracious homes on quiet tree lined streets, so close to fun and convenience of modern DC living. Enjoy the shopping, restaurants and Metro access just right around the corner, and then come home to a real neighborhood, passing friends on their porches as you stroll by. 

Welcome Home!

 

Our E-News Letter February 2015 Edition

 

 

Click Here to View the Full E-News Letter

One of my favorite parts of my job is getting to know all of you and hearing about YOUR jobs. The variety of ways you all make a living is just fascinating; and it often comes in handy...

Brian Lacey is a client who has become a good friend over the years. His company, Electric Advisors, brokers energy supply, mostly to commercial entities but to residential customers too. I reached out to him recently for advice on the transfer of "GATS," which are essentially green energy credits that in this case were being generated by our seller's solar panels and needed to be transferred with the sale. I was a bit baffled by the whole thing and very glad to have Brian's number in my phone. He quickly and clearly explained both the premise and the process. 

While we were talking, he mentioned a change that all of us who are PEPCO customers will see with this month's bill: a new account number, and possibly, a longer billing cycle. It seems like good information all of us to have, so I asked him for more information to pass along. He kindly obliged me with this link to  Electrical Advisor's blog containing all the details.  

It's a great joy to me to see the community of people who have grown up around Nalls Home Partners. Please remember that we are always here to happily make a referral or put you in touch with an expert when you have questions  pertaining to your home. 

All the best, 

Barbara, Tom, Marc and Susan

Nalls Home Partners

Bright, beautiful, 3 bedroom, 2 full bath colonial charmer with a large main floor sun room addition in popular Rock Creek Forest.

2719 Colston Drive Chevy Chase, MD 20815

Click Here to View the Virtual Tour

Open Sunday February 22nd 1-4 PM!

$734,000

Barbara Nalls and Long and Foster are pleased to welcome you to this exciting opportunity to own a bright, beautiful colonial home in one of Chevy Chase Maryland's very most popular neighborhoods, Rock Creek Forest. 

 

The home, which has been fully and lovingly renovated by the current owners, features three bedrooms and two full baths, a main floor sunroom addition flooded with sunshine from a huge skylight, formal living and dining rooms, a modern kitchen with breakfast nook, fully finished lower level family room with another full bath, a deck, an attached garage and a large level lot - there's even a white picket fence!

 

Best of all, the work is done. From large items like a new roof, driveway, HVAC, and appliances, to details like restored and reworked door and cabinet hardware, the house is 100% ready for you to move right in and start enjoying all that the area has to offer - pretty houses nestled into tree lined streets, a great community pool and tennis club, and a short walk to transportation, schools, shopping, Rock Creek Park and Candy Cane City, as well as easy proximity to both Bethesda and Silver Spring's lively downtown centers. Welcome Home!!

 

Main Floor:

·  Front Porch, Entry Area with guest's closet

·  Formal Living Room with hardwood floors, large windows, and a fireplace with built in screen and lovely federal mantlepiece

·  Separate Dining Room with hardwood floors and a pretty chandelier

·  Sun Room / Play Room with walls of modern windows, a skylight, ceiling fans, wall to wall carpeting and a door to rear and side yards

·  Updated Eat-In Kitchen with stylish new flooring, re-crafted cabinetry, new appliances and countertops, coordinating glass tile backsplash, a breakfast nook with room for family snacks and meals, two exposures and exit to the back yard and deck. 

Upper Level:

·  Master Bedroom with double closets, hardwood floors, ceiling fan and switched lighting, multiple windows on two exposures

·  Bedroom #2 with a good closet, hardwood floors, ceiling fan, switched overhead lighting and two exposures. 

·  Bedroom #3 with three exposures, built in shelving, double closets, hardwood floors, and a switched ceiling fan

·  Renovated Full Bath with a new modern vanity and storage, new fixtures, refinished tub with shower bath and new tile

·  Hall linen closet, and pull down stair to floored attic storage. 

Lower Level:

·  Wonderful, fully finished family Recreation Room with switched ceiling lighting, awning windows, new wall to wall carpeting and good storage. 

·  Office or Exercise Area

·  Separate Laundry Area with new washer and dryer, dedicated lighting. 

·  2nd Full Bath with modern fixtures, lighting, shower. 

Additional Information:

·  Natural gas forced air heat and electric central air cooling (2014) 

·  New roof, new skylights (2014)

·  New appliances, washer dryer, laundry sink (2012)

·  New radon system (2012)

·  Monitored security system (2013) 

·  Rebuilt, relined chimney, new damper, new fireplace doors (2013) 

·  Landscaping, tree removal, new fence, new driveway and front walk, reconfigured drainage, new gutters and downspouts, re-built front porch (2014, 2015) 

·  New exterior doors, replacement windows (2011-2014) 

·  Fresh paint, new carpet, refurbished door hardware, kitchen counters and backsplash, flooring, window treatments, light fixtures and ceiling fans, (2012 - 2015) 

·  An electrical heavy up, recommended by PEPCO, is scheduled. 

 

Schools:

Rock Creek Forest Elementary School

Westland Middle School

Bethesda Chevy Chase High School

 

Legal Subdivision: Rock Creek Forest

Lot: 6,240 sq ft (per tax record)
Interior size: 2,050 sq ft per Truplace
Block: G Lot: 18
Year Built: 1941

Estimated property tax and non-tax charges in the first full fiscal year of ownership is $5,942.30

 

Home-Price Growth Slightly Accelerates in Fourth Quarter of 2014

 

* Information from National Association of Realtors^®

 

WASHINGTON (February 11, 2015) – The majority of metropolitan areas experienced steady but slightly stronger price growth in the fourth quarter of 2014, behind a decline in housing supply and an uptick in demand fueled by lower interest rates and a stronger job market, according to the latest quarterly report by the National Association of Realtors^®.

The median existing single-family home price increased in 86 percent of measured markets, with 150 out of 175¹ metropolitan statistical areas² (MSAs) showing gains based on closings in the fourth quarter compared with the fourth quarter of 2013. Twenty-four areas (14 percent) recorded lower median prices from a year earlier.

There were more rising markets in the fourth quarter compared to the third quarter, when price increases were recorded in 73 percent of metro areas. Twenty-four areas in the fourth quarter (14 percent) had double-digit increases – a rise from 16 metro areas in the third quarter of 2014. Forty-two metro areas (26 percent) experienced double-digit increases in the fourth quarter of 2013.
Lawrence Yun, NAR chief economist, says improved sales activity compared to a year ago and tightening supply contributed to faster price appreciation in the final quarter of 2014. “Home prices in metro areas throughout the country continue to show solid price growth, up 25 percent over the past three years on average,” he said. “This is good news for current homeowners but remains a challenge for buyers who are seeing home prices continue to outpace their wages. Low interest rates helped preserve affordability last quarter, but it’ll take stronger income gains and more housing supply to help meet the pent-up demand for buying.”

The national median existing single-family home price in the fourth quarter was $208,700, up 6.0 percent from the fourth quarter of 2013 ($196,900). For all of 2014, the median price increased 4.8 percent in the third quarter from a year earlier; 4.2 percent in the second quarter from a year earlier; and 8.3 percent in the first quarter from a year earlier.

Total existing-home sales², including single family and condo, declined 1.0 percent to a seasonally adjusted annual rate of 5.07 million in the fourth quarter from 5.12 million in the third quarter, but are 2.6 percent higher than the 4.94 million pace during the fourth quarter of 2013.

At the end of the fourth quarter, there were 1.85 million existing homes available for sale⁴, slightly below the 2.01 million homes for sale during the fourth quarter of 2013. The average supply during the fourth quarter was 4.9 months – unchanged from a year ago. A supply of 6 to 7 months represents a healthy balance of supply between buyers and sellers.

“Despite affordable housing conditions in most of the country, an upward pressure on home prices still persists in some metro areas – particularly in the West – where the current supply of new and existing-homes for sale is failing to keep pace with overall demand and growing populations,” says Yun. “Unless homebuilders significantly boost construction, housing supply shortages could develop and lead to further price acceleration this spring.”

Metro area condominium and cooperative prices – covering changes in 61 metro areas – showed the national median existing-condo price was $203,300 in the fourth quarter, up 3.3 percent from the fourth quarter of 2013 ($196,900). Forty-six metro areas (75 percent) showed increases in their median condo price from a year ago; 14 areas had declines.

The five most expensive housing markets in the fourth quarter were the San Jose, Calif., metro area, where the median existing single-family price was $855,000; San Francisco, $742,900; Honolulu, $701,300; Anaheim-Santa Ana, Calif., $688,500; and San Diego, $493,100.
The five lowest-cost metro areas in the fourth quarter were Youngstown-Warren-Boardman, Ohio, where the median single-family home price was $78,000; Rockford, Ill., $86,800; Toledo, Ohio, $87,100; Decatur, Ill., $90,400; and Cumberland, Md., $90,500.

According to Freddie Mac, the national average commitment rate on a 30-year conventional fixed-rate mortgage fell below 4 percent during the fourth quarter to an overall average rate of 3.97 percent, down from 4.14 percent during the third quarter of 2014. They were 4.30 percent in the fourth quarter of 2013.

NAR President Chris Polychron, executive broker with 1st Choice Realty in Hot Springs, Ark., says sparked by an improving economy, Realtors^® throughout the country are reporting slightly improved buyer demand compared to a year ago. “Interest rates below 4 percent, rising rents and healthier local job markets are convincing more consumers to consider homeownership,” he said. “For those entering the market in the months ahead, working with a Realtor^® will make the complex buying process easier to navigate as buyers review their options, secure financing and ultimately close on a home.”

Lower interest rates and an uptick in the national family median income ($65,782) slightly improved affordability in the fourth quarter compared to the third quarter⁵. To purchase a single-family home at the national median price, a buyer making a 5 percent downpayment would need an income of $45,863, a 10 percent downpayment would require an income of $43,449, and $38,621 would be needed for a 20 percent downpayment.

Regional Breakdown
Total existing-home sales in the Northeast rose 2.5 percent in the fourth quarter and are 4.1 percent below the fourth quarter of 2013. The median existing single-family home price in the Northeast was $246,300 in the fourth quarter, up 2.2 percent from a year ago.

In the Midwest, existing-home sales declined 4.7 percent in the fourth quarter and are 0.6 percent below a year ago. The median existing single-family home price in the Midwest increased 6.2 percent to $162,000 in the fourth quarter from the same quarter a year ago.

Existing-home sales in the South climbed 2.7 percent in the fourth quarter and are 5.8 percent above the fourth quarter of 2013. The median existing single-family home price in the South was $183,500 in the fourth quarter, 6.2 percent above a year earlier.

In the West, existing-home sales fell 6.0 percent in the fourth quarter and are 0.9 percent below a year ago. The median existing single-family home price in the West jumped 4.8 percent to $299,500 in the fourth quarter from the fourth quarter of 2013.

Strong Start for DC Home Prices

Information from GCAAR

 

County Sees Increase in Condo and Single-Family Settlements and Single-Family Contracts   

2015 began with DC condo and single-family home prices higher than last year, while Montgomery County prices did not fare as well, showing declines in both areas.  The County did experience an increase in condoand single-family settlements as well as single-family contracts compared to January 2014. Days on market was higher in both jurisdictions compared to January 2014.      Washington, DC The average days on market was up by two days (3.77%) compared to January 2014. The median price for condos rose 14.3%, with single-family homes increasing by 6.3%. Inventory dropped 5.6% for condos, and 1.6% for single-family homes. Contract activity dropped slightly for condos, 0.4%, but increased by 2.6% for single-family homes. Settlements rose for condos, 2.5%, but decreased 4.3% for single-family homes compared to January 2014.   Montgomery County The average number of days on market was up by 17 days (29.82%) compared to January 2014. Median condo prices dropped by 15.9%, and single-family homes dropped as well, 3.3% compared to the same time last year. The amount of available inventory increased in January, with a 21.6% increase for condos and a 26.5% increase for single-family homes. The number of contracts decreased for condos, 6%, but single-family homes saw a 16.6% increase. Settlements increased slightly for condos, 1.3%, and 4.8% for single-family homes compared to January 2014.

District of Columbia January 2015 January 2014 Change Average Days on Market: Condo &  Single-Family Homes 55 53 3.77%  Condo Median Price $440,000 $384,950 14.3% Condo Total Active Listings  502 532 -5.6% New Condo Contracts This Month 275 276 -0.4% Condo Settlements This Month 209 204 2.5% Condo Absorption Rate (Total Active Listings /New Contracts) 1.83 1.93 -5.2% Single-Family Median Price $595,000 $559,700 6.3% Single-Family Total Active Listings 488 496 -1.6% New Single-Family Contracts This Month 311 303 2.6% Single-Family Settlements This Month 245 256 -4.3% Single-Family Absorption Rate (Total Active Listings /New Contracts) 1.57 1.64 -4.3% Montgomery County January 2015 January 2014 Change Average Days on Market: Condo &  Single-Family Homes 74 57 29.82% Condo Median Price $199,200 $237,000 -15.9% Condo Total Active Listings 513 422 +21.6% New Condo Contracts This Month 204 217 -6.0% Condo Settlements This Month 162 160 1.3% Condo Absorption Rate (Total Active Listings /New Contracts) 2.51 1.94 +29.4% Single-Family Median Price $425,000 $439,592 -3.3% Single-Family Total Active Listings 1714 1355 +26.5% New Single-Family Contracts This Month 610 523 16.6% Single-Family Settlements This Month 438 418 4.8% Single-Family Absorption Rate (Total Active Listings /New Contracts) 2.81 2.59 +8.5%