November 2014 E-News Letter

Happy Thanksgiving!

 

The real estate market in our area has slowed a bit. This is not at all unusual for this time of year and often portends a really robust spring market. As a reminder, the "spring" in this sense means anything from late January to very early April. As surprising as this seems, we are often actually slowing back down again by May 1. So don't wait for the Azaleas! If you are thinking about a move in 2015, call us this fall/winter to get a strategy in place for after the first of the year. 

To help make getting ready for any move easier, we've got some great resources to share with you. 

Fernando Principe, Royal Painting and Light Construction. Fernando and his team can handle everything necessary to get your home in tip top shape - whether for yourselves or to assure top dollar in a sale. 301 379 1638 or fernando@royalpaintinglc.com

 Alexandra Fry, Orchestrated Moves. Alexandra and her team are ready to help with every move but really excel in specialized situations: very large homes, seniors downsizing into new living opportunities, disabled / special needs folks, divorce and other complicated multi-house moves, and estates. 301 801 5044, orchestratedmoves@yahoo.com  

Giancarlo Dall'Orso, B B & D Moving GianCarlo has been part of our team for some time now but it always bears repeating that good movers can help before the sale with getting the house ready for the market by helping with the decluttering process - by moving extra items to other family members and/or second homes, and by arranging short term storage for the extra bits while we show the house. 571 233 7009, giancarlo@bbdmoving.com

Frank Coyne, Junk In The Trunk. Hands down, the best hauling company out there. For a very reasonable cost they will sort for donation, safely recycle electronics and generally make your unwanted "stuff" disappear. What's not to love? On top of that, as their website says, they smell better!877-548-8669 service@jitt.com

Nick Sage, SmartBox. Ahhh, the Pods. The harbingers of the spring market, they sprout like daffodils in driveways and on curbs, ready to temporarily hold your extras while we get the house sold. Nick / SmartBox are the best in the business and our clients even get a discount! 4102806013 nick.sage@smartboxusa.com 

Hope everyone has a very Happy Thanksgiving. Click Here to View the Entire E-News Letter

Barbara, Tom, Marc and Susan

Nalls Home Partners

 

DC Condo Settlements Strong in October - Prices Rise Slightly; Days on Market Up in the County

 

There were modest price increases for condos and single-family homes in the District of Columbia and Montgomery County in October as inventory continued to rise across the board, but more significantly in the County. The District saw an increase in condo settlements compared to October 2013.   

 

Washington, DC

The average days on market was down one day compared to October 2013. The median price for condos rose 2.5%, with single-family homes increasing by 3.3%. Inventory increased 2.2% for condos, and 3.5% for single-family homes. Contracts dropped 3.5% and 3.1% respectively for condos and single-family homes. Settlements increased 25.6% for condos, but saw no change for single-family homes compared to October 2013. 

 

Montgomery County

The average number of days on market was up 11 days compared to October 2013. Median condo prices saw a 0.7% increase, and the price of single-family homes rose by 0.6%. The amount of available inventory increased in October, with a 28.8% increase for condos and a 36.8% increase for single-family homes. The number of contracts decreased 6.4% for condos, and 0.3% for single-family homes. Settlements dropped for condos, 13.3%, but increased by 0.6% for single-family homes compared to October 2013.

 

* Information from GCAAR

Open This Sunday November 9th 1-4 PM! Expanded Colonial in Chevy Chase West!

Open This Sunday November 9th 1-4 PM!
List Price:  $1,299,000
4809 CHEVY CHASE BLVD, CHEVY CHASE, MD 20815

Wow! Sparkling true 5/6 BR 3 +2 BA colonial on one of Chevy Chase West's prettiest streets! Significant expansions including fantastic light drenched great room, adj new granite & stainless steel kitchen, shining wood floors, gorgeous details. Rare 2 car gar w/ fin loft above inc full bath & wet bar - great for home office or au pair. Great lot, perfect quiet location close to parks & downtown Bethesda or Chevy Chase / Friendship.

Click Here to View the Virtual Tour

Outlook for U.S. Economic Growth Still Solid Even as Global Growth Slows

October 23, 2014

Housing Faces Upward Grind in 2015

Published by Fannie Mae Katie Penote

 

WASHINGTON, DC – Real economic growth in the U.S. appears ready to exceed 3.0 percent for the second half of the year, providing a sound basis for growth in 2015, according to Fannie Mae's (FNMA/OTC) Economic & Strategic Research (ESR) Group. The Group’s macroeconomic theme for 2014, Private Forces Move to the Fore, materialized in the second quarter as reduced fiscal uncertainty and slowing monetary intervention helped private sector momentum to build. Although a variety of factors are slowing growth on a global scale, which may discourage the Federal Reserve Board from making any changes in interest rate policy until Q3 2015, the global economic slowdown has had little negative impact on the fundamentals of the U.S. economy so far.

"Given the expected strengthening economic activity in the U.S. in the second half of the year, we continue to expect to finish just above 2 percent growth for all of 2014," said Fannie Mae Chief Economist Doug Duncan. "The risks are tilted to the downside due to current geopolitical events in Russia, Ukraine, Hong Kong, and the Middle East, as well as the economic slowdown in the Eurozone, China, and Japan. However, recent data suggest these factors have not significantly swayed American consumers. Real consumer spending is poised to pick up in the second half of 2014 from the first half, due in large part to improving labor market conditions, continued declines in gasoline prices, and a subdued pace of inflation."

"From a housing perspective, we anticipate that overall home sales will be weaker in 2014 than in 2013. For 2015, we expect only a moderate pickup in total home sales but enough to post the best performance since 2007," said Duncan. "We lowered our expectation for housing starts just slightly to 1 million units for 2014, but our view of mortgage originations has not changed. Our estimate for 2013 was in line with the recent release of 2013 data under the Home Mortgage Disclosure Act, and our projection of total production in 2014 is little changed at approximately $1.1 trillion. For 2015, we are cautiously optimistic that ongoing labor market improvements, low mortgage rates, rising inventories, and some easing of lending standards will boost home sales by roughly 5.0 percent. However, we still believe housing will continue along its upward grind rather than have the breakout year some are expecting."

For an audio synopsis of the October 2014 Economic Outlook, listen to the podcast on the Economic & Strategic Research site at www.fanniemae.com. Visit the site to read the full October 2014 Economic Outlook, including the Economic Developments Commentary, Economic Forecast, Housing Forecast, and Multifamily Market Commentary.

Opinions, analyses, estimates, forecasts, and other views of Fannie Mae's Economic & Strategic Research (ESR) Group included in these materials should not be construed as indicating Fannie Mae's business prospects or expected results, are based on a number of assumptions, and are subject to change without notice. How this information affects Fannie Mae will depend on many factors. Although the ESR Group bases its opinions, analyses, estimates, forecasts, and other views on information it considers reliable, it does not guarantee that the information provided in these materials is accurate, current, or suitable for any particular purpose. Changes in the assumptions or the information underlying these views could produce materially different results. The analyses, opinions, estimates, forecasts, and other views published by the ESR Group represent the views of that group as of the date indicated and do not necessarily represent the views of Fannie Mae or its management.

Fannie Mae enables people to buy, refinance, or rent a home.

Visit us at: http://www.fanniemae.com/progress.

Follow us on Twitter: http://twitter.com/FannieMae.

Open This Sunday October 26th 1-4 PM!

4809 CHEVY CHASE BLVD, CHEVY CHASE, MD 20815
Wow! Sparkling true 5/6 BR 3 +2 BA colonial on one of Chevy Chase West's prettiest streets! Significant expansions including fantastic light drenched great room, adj new granite & stainless steel kitchen, shining wood floors, gorgeous details. Rare 2 car garage w/ finished loft above including full bath & wet bar - great for home office or au pair. Great lot, perfect quiet location close to parks & downtown Bethesda or Chevy Chase / Friendship.
* WE'RE BACK ON THE MARKET - GREAT SECOND CHANCE!! They really did just get cold feet! Some small inspection items being done, all ready for the next owner.

Click Here to See the Virtual Tour

Single-Family Contracts and Settlements Rise in DC and Montgomery County

 

Information From GCAAR

 

Single-Family Contracts and Settlements Rise in DC and Montgomery County

Prices Rise Slightly; Days on Market Up in the County

There were modest price increases for condos and single-family homes in the District of Columbia and Montgomery County in September as inventory continued to rise. Both jurisdictions saw increases in single-family contracts and number of settlements.  

 

Washington, DC

The average days on market was down 17.5% compared to September 2013. The median price for condos rose 1%, with single-family homes increasing by 3.3%. Inventory increased 7.5% for condos, and 6.3% for single-family homes. Contracts rose 6.4% and 3.2% respectively for condos and single-family homes. Settlements decreased 5.8% for condos, but rose by 8.3% for single-family homes compared to September 2013. 

 

Montgomery County

The average number of days on market was up 20.45% from September 2013. Median condo prices saw a 3.2% increase, and the price of single-family homes rose by 1.5%. The amount of available inventory increased in September, with a 27.4% increase for condos and a 34% increase for single-family homes. The number of contracts decreased 17.5% for condos, but increased by 8.8% for single-family homes.Settlements dropped for condos, 5.4%, but increased by 5.2% for single-family homes compared to September 2013.   

Open This Sunday October 12th 1-4 PM! Sparkling true 5/6 BR 3 +2 BA col on one of Chevy Chase West's prettiest streets!

4809 CHEVY CHASE BLVD, CHEVY CHASE, MD 20815
List Price:  $1,299,000

Click Here to View the Virtual Tour

Beautifully appointed and expanded colonial located in Chevy Chase West. Originally built in 1947, with a major addition and recently completed full renovation, this property creates the perfect combination of old world charm and luxurious modern family living space. Exquisite finishes, handsome moldings, built-in millwork, gleaming refinished wood floors and other superb architectural details throughout.  This home offers a formal living room, elegant dining room with delightful moldings.  On the main floor this home offers a newly renovated granite kitchen, a large sun-drenched family room addition with inviting views, mudroom area with exterior entrance, huge closet and stone inlay, a powder room, and an office suite with private bath and view of front yard. There are five bedrooms and two full baths on the upper level, including a luxurious master bedroom suite with large master bath and oversized walk-in closet. The lower level features a playroom, a half bath, wonderful storage closets and a workout / yoga room with ample storage. The captivating grounds of this home have been meticulously cared for; the yard has mature flower beds with colorful plantings, a front brick pathway, stone accents and two patios. The home is complete with a deep private driveway, and detached two car garage.  The studio above the garage has a full bath, wet bar, washer and dryer, patio, and large closet.    Ideally located near schools, library, shopping, coffee shops, Metro, the Crescent Trail, Friendship Heights, and vibrant downtown Bethesda, this is the one you've been waiting for . . . Welcome Home!

SPECIFICS:

• Price: $1,299,000

• Lot: 55 Block: G

• Lot Size: 6,350 square feet

• Living Area: 3992 square feet (per Truplace)

• Subdivision: Chevy Chase West

• Year Built: 1947

Schools: Somerset Elementary, Westland Middle School, and Bethesda-Chevy Chase High School (International Baccalaureate Program)

 

Estimated tax and non-tax charges in the first fiscal year of ownership $12,532.15