Wednesday, July 31, 2013
Open 1-4 July 28th! 7701 MARBURY RD, BETHESDA - Hot New Price $1,999,000!
Thoughtful design & breathtaking details combine to make this 4 level, 6BR, 5.5BA Craftsman the home of your dreams. Well cited on a very large lot, the distinctive residence offers substantial living, dining & family rooms, a magnificent chef's kitchen, mudroom, library, porch, a beautiful deck & spacious 2 car garage. Large bright bedrooms & a decadent owner’s suite upstairs and perfectly finished LL open to the fenced rear yard (& sportcourt!) complete the picture. Ideally located near schools and vibrant downtown Bethesda, this is the one you've been waiting for!
Click Here for the Virtual Tour
The Market Is Moving....You Could Be Too!
I
recently saw a post card from another Realtor with that wonderful
tagline. It's not so terribly unique that I feel awkward re-using it,
but a tip of the hat to friend and colleague Sharon Buchanan with Remax
just in case...
Regardless,
the sentiment is perfect. After so many years of down markets and
depressing real estate news, folks finally feel like moving is an
option. Sure, interest rates are up a tiny bit, but they are still very,
very low. Heck, we would have all been tripping over each other to get
4.25% back at the peak of the market. And it's a nice, balanced market
out there. Listings selling reasonably quickly and easily; buyers
getting nice houses in one or two tries; lenders being sort of halfway
rational about loaning mortgage money...pretty good stuff.
So
now, instead of a marketplace full only of people who absolutely HAVE
to move, we are seeing discretionary moves and lots of folks who just
WANT to move house, for all sorts of reasons. And that could be you.
Dream a little. Maybe you've always wanted a bit of elbow room from the
neighbors, or a pool, or a guest room or a contemporary rather than
traditional home. Whatever the reason - and there are as many as there
are people and families - we're here to help.
If you need a little inspiration, try looking at my favorite web-addiction, Houzz. It's pure house-porn. Love it!
Enjoy the rest of the summer, stay cool, have fun and we'll see you in September!
Barbara, Tom, Susan and Emily,
Nalls Home Partners
Our monthly E-Newsletter
Monday, July 22, 2013
Foreign Home Buyers Continue to Identify U.S. as Profitable Investment, Realtors® Report
Foreign Home Buyers Continue to Identify U.S. as Profitable Investment, Realtors® Report
Article from The National Association of Realtors®
WASHINGTON (June 24, 2013) – International home sales in the U.S. declined in the past year, but are at their second highest level in recent years and are over six percent of total existing-home sales in value. According to the National Association of Realtors® 2013 Profile of International Home Buying Activity, interest in U.S. properties continues to grow, signaling that America continues to be regarded by international buyers as a great place to own property.
The survey, which asked Realtors® to report their international business activity within the U.S. for the 12 months ending March 2013, showed that total international sales were $68.2 billion, down approximately $14 billion from the previous year. The decline is attributed to a number of temporary factors, including economic slowdowns in a number of major foreign economies, tighter U.S. credit standards and unfavorable exchange rates. Of total international transactions, $34.8 billion (51 percent) were attributed to foreign buyers with permanent residences outside the U.S. and $33.4 billion (49 percent) were attributed to buyers who are recent immigrants or temporary visa holders residing for more than six months in the U.S.
“Foreign buyers are experiencing hurdles not only abroad, but also here in the U.S. when it comes to purchasing property,” said NAR President Gary Thomas, broker-owner of Evergreen Realty in Villa Park, Calif. “Difficult economic conditions, particularly in Europe, have impacted foreign buyers, but several factors in the U.S. have also affected their purchasing power here. Tight credit standards have made financing challenging for immigrants, and low housing inventories have made finding a house difficult. However, none of these factors appear to be permanent.”
Foreign buyers continue to have a substantial interest in U.S. properties. Over a five year time frame more than 70 percent of Realtors® reported a constant or increasing level in the number of international clients contacting them.
“Realtors® provide international buyers with a significant advantage when purchasing property in the U.S. Realtors® who have earned NAR’s Certified International Property Specialist designation have received specialized training and are well prepared to service the international market,” said Thomas.
Twenty-seven percent of Realtors® reported having worked with international clients this year. The most important factors influencing international clients’ purchases reported by Realtors® were that the U.S. is viewed as a desirable location and that the real estate market is regarded as a profitable investment.
Realtors® reported purchases from 68 countries, but five have historically accounted for the bulk of purchases; Canada (23 percent), China (12 percent), Mexico (8 percent), India (5 percent) and the United Kingdom (5 percent). These five countries accounted for approximately 53 percent of transactions, with Canada and China the fastest growing sources over the years.
Canadian buyers were reported to purchase properties with a median price of $183,000, with the majority purchased in Florida, Arizona and California. Chinese buyers tended to purchase property in the upper price ranges with a median price of $425,000 and typically in California. Sixty-two percent of Mexican buyers purchased property in California and Texas, with a median price of $156,250.
International buyers tend to cluster in specific locations based on countries of origin, as well as several other factors. “Many factors influence foreign buyers’ decisions on where to purchase in the U.S., but the most important are proximity to home country, presence of relatives and friends, availability of job and education opportunities, and the climate,” said Thomas. “International buyers also differ on the type of desired property. Some are looking for trophy properties while others are interested in modest vacation homes.”
Five states made up 61 percent of reported purchases; Florida (23 percent), California (17 percent), Arizona (9 percent), Texas (9 percent) and New York (3 percent). About half of foreign buyers preferred to purchase in a suburban area, while a quarter preferred a more central city/urban area. A majority purchased a detached single-family home and 63 percent used all-cash. Based on the reported international transactions, the mean and median prices of purchases were higher when compared to purchase prices of domestic buyers. For the 12 months ending March 2013 the median international home price was $275,862 and for domestic buyers it was $179,867. The types of homes purchased by international buyers frequently tended to be different from the types of homes purchased by domestic U.S. buyers. International buyers are more likely to be substantially wealthier and looking for a property in a specialized niche.
Article from The National Association of Realtors®
WASHINGTON (June 24, 2013) – International home sales in the U.S. declined in the past year, but are at their second highest level in recent years and are over six percent of total existing-home sales in value. According to the National Association of Realtors® 2013 Profile of International Home Buying Activity, interest in U.S. properties continues to grow, signaling that America continues to be regarded by international buyers as a great place to own property.
The survey, which asked Realtors® to report their international business activity within the U.S. for the 12 months ending March 2013, showed that total international sales were $68.2 billion, down approximately $14 billion from the previous year. The decline is attributed to a number of temporary factors, including economic slowdowns in a number of major foreign economies, tighter U.S. credit standards and unfavorable exchange rates. Of total international transactions, $34.8 billion (51 percent) were attributed to foreign buyers with permanent residences outside the U.S. and $33.4 billion (49 percent) were attributed to buyers who are recent immigrants or temporary visa holders residing for more than six months in the U.S.
“Foreign buyers are experiencing hurdles not only abroad, but also here in the U.S. when it comes to purchasing property,” said NAR President Gary Thomas, broker-owner of Evergreen Realty in Villa Park, Calif. “Difficult economic conditions, particularly in Europe, have impacted foreign buyers, but several factors in the U.S. have also affected their purchasing power here. Tight credit standards have made financing challenging for immigrants, and low housing inventories have made finding a house difficult. However, none of these factors appear to be permanent.”
Foreign buyers continue to have a substantial interest in U.S. properties. Over a five year time frame more than 70 percent of Realtors® reported a constant or increasing level in the number of international clients contacting them.
“Realtors® provide international buyers with a significant advantage when purchasing property in the U.S. Realtors® who have earned NAR’s Certified International Property Specialist designation have received specialized training and are well prepared to service the international market,” said Thomas.
Twenty-seven percent of Realtors® reported having worked with international clients this year. The most important factors influencing international clients’ purchases reported by Realtors® were that the U.S. is viewed as a desirable location and that the real estate market is regarded as a profitable investment.
Realtors® reported purchases from 68 countries, but five have historically accounted for the bulk of purchases; Canada (23 percent), China (12 percent), Mexico (8 percent), India (5 percent) and the United Kingdom (5 percent). These five countries accounted for approximately 53 percent of transactions, with Canada and China the fastest growing sources over the years.
Canadian buyers were reported to purchase properties with a median price of $183,000, with the majority purchased in Florida, Arizona and California. Chinese buyers tended to purchase property in the upper price ranges with a median price of $425,000 and typically in California. Sixty-two percent of Mexican buyers purchased property in California and Texas, with a median price of $156,250.
International buyers tend to cluster in specific locations based on countries of origin, as well as several other factors. “Many factors influence foreign buyers’ decisions on where to purchase in the U.S., but the most important are proximity to home country, presence of relatives and friends, availability of job and education opportunities, and the climate,” said Thomas. “International buyers also differ on the type of desired property. Some are looking for trophy properties while others are interested in modest vacation homes.”
Five states made up 61 percent of reported purchases; Florida (23 percent), California (17 percent), Arizona (9 percent), Texas (9 percent) and New York (3 percent). About half of foreign buyers preferred to purchase in a suburban area, while a quarter preferred a more central city/urban area. A majority purchased a detached single-family home and 63 percent used all-cash. Based on the reported international transactions, the mean and median prices of purchases were higher when compared to purchase prices of domestic buyers. For the 12 months ending March 2013 the median international home price was $275,862 and for domestic buyers it was $179,867. The types of homes purchased by international buyers frequently tended to be different from the types of homes purchased by domestic U.S. buyers. International buyers are more likely to be substantially wealthier and looking for a property in a specialized niche.
Wednesday, July 17, 2013
Suburban Maryland Housing Market Sees Increase in Sale Prices
Long &
Foster Market Minute reports show tightened inventory in May
6/19/2013 information from Long & Foster Real Estate, Inc.
In May, the entire
suburban Maryland region experienced year-over-year increases in median sale
price. Frederick County saw an increase of 20 percent. Prince George’s and
Montgomery counties recorded increases of 18 percent and 6 percent, respectively
in median sale price compared to a year ago. Charles County saw a slight 1
percent increase versus last May.
Active inventory
continued to decline across the entire suburban
Maryland region. Total active inventory decreased in Prince
George’s County by a significant 53 percent this year compared to May 2012.
Inventory levels decreased in Montgomery County by 30 percent and by 17 percent
in Frederick County. Charles County saw a decrease of 15 percent compared to a
year ago.
According to
market data, home sales increased or remained the same throughout much of the
suburban Maryland region compared to May 2012. Frederick County saw a healthy
increase of 16 percent, while Montgomery County experienced an increase in home
sales of 6 percent, compared to a year ago. Prince George’s County
sale prices remained the same this year compared to last year.
Homes continued to
sell quickly in the suburban Maryland region, with marketing periods now less
than two months, on average. Montgomery County days on market (DOM) remained low
at 33 days. Charles County’s DOM was 46 days, Prince George’s County’s was 54
days, and Frederick County’s was 55 days.
“In the suburban Maryland
region, the residential real estate market continues to improve. Job growth,
home affordability and consumer confidence, among other market conditions remain
on the upward trend. Many considering buying a home are researching what their
local markets have to offer,” said Jeffrey S. Detwiler, president and chief
operating officer of The Long & Foster Companies.
“The suburban Maryland
market continues to show many positive trends, such as appreciating home prices,
an increasing number of homes sold and decreasing average days on market,
although housing inventory remains low, limiting buyers’ options. The search for
a home might take longer than usual with the limited inventory in the suburban
Maryland region, but it’s still a great time to become a homeowner.”
Monday, July 8, 2013
Home Price Surge Will Accelerate Next Month - CoreLogic
Home Price Surge Will Accelerate Next Month - CoreLogic
Jul 2 2013, 10:19AM by Jann Swanson CoreLogic
There is a remarkable degree of agreement among prevalent purveyors of Home Price Indices that prices this spring have risen higher and faster than in any period since early 2006.
Click Here to Read More
Jul 2 2013, 10:19AM by Jann Swanson CoreLogic
There is a remarkable degree of agreement among prevalent purveyors of Home Price Indices that prices this spring have risen higher and faster than in any period since early 2006.
Click Here to Read More
Tuesday, July 2, 2013
Experts doubt surge in mortgage rates will derail housing recovey
Experts doubt surge in mortgage rates will derail housing recovery
From Inman News - Andrea V. Brambila June 24th
Surging mortgage rates may have little effect on the housing market, at least in the near term, housing experts say.Click here to Read Entire Article
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