Nall Home Partners E-News Letter for December 2013

Happy Holidays and Happy New Year  

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The real estate market has been terrific this year and thanks to your referrals it looks like one for the record books. We try to make it look easy but of course it rarely is, and heaven knows we couldn't do it alone. So as we wrap up the year and head into the holiday break, here's a big shout out and happy holidays to some of the many folks associated with our real estate team - with a big THANK YOU for a fantastic 2013! 

• Our terrific assistants: office manager and processor Marc Hershkowitz, marketing and internet assistant Becky Smith-Vogel, and Emily Bowers.  
• All of our dependable lenders but especially Deb Levy with Eagle Bank, Joe Nalls and Karen Van Zandt with Prosperity Mortgage, and Brian Farasy with 1st Place Bank
• Our tireless settlement attorneys John Nalls at Counselors Title, Bobby Lee at Sage Title, Tony Duvol at RGS - and all the their processors and staff too! 
• All the trades associated with getting our listings ready to show and attending to home inspection punch lists including Irshad and Nanda at Alliance Home Improvement, Casey Spears at Preston Landscaping, Nick  Sage at Smartbox, Rick Neumann, Neumann & Associates (floors), Alan Ruprecht at Benware Termite Control.  
• The folks who help us market your homes - all the photographers at Mouse on House (now TruPlace) but especially Sean and Bobby, L&F's own marketing Maven Julie Molster,  the great staff at Marketing Matters, and the unsung - but much appreciated - staff in our wonderful Long and Foster Bethesda office - Belinda, Tammy, Maureen and Pritesh

The list is woefully incomplete, but the point is the same - we are blessed to be associated with so many wonderful, dependable professionals and we truly couldn't do it all without them.

Now for a peek at 2014, check out this link for ideas about the real estate design trends and colors coming our way....

Click here to read about whats hot for home decor in 2014 Click here to read about whats hot for home decor in 2014

    

Barbara, Tom, Marc and Susan

Nalls Home Partners

The Perfect Location - Steps to Bethesda and the Crescent Trail! Updated 2 BR TH with Granite Kitchen!

Convenient Chevy Chase!

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4826 Bradley Blvd Chevy Chase, MD 20815

Subdivision: KENWOOD FOREST II

Barbara Nalls and Long & Foster Real Estate Inc. are pleased to welcome you to an extraordinary opportunity to live in real style while enjoying a location second to none. This bright, renovated end unit townhouse sits in a quiet courtyard and provides fantastic space and light along with sought after high end features like built-in cabinetry and solid wood Plantation shutters, granite kitchen and updated baths. The main level offers an inviting entry foyer, living room with custom mill-work, a table space granite kitchen, powder room, coat closet,  clever additional storage space under the stairs and a large deck overlooking the private community green-space. Upstairs are two en-suite bedrooms with private full baths and double hung closets as well as a custom laundry closet with a stackable washer and dryer.   You cannot beat this location – steps to shopping, coffee shops, Metro, the Crescent Trail, Bethesda Pool and vibrant downtown Bethesda. This is the one you've been waiting for - Welcome Home!

MAIN LEVEL............................

• Inviting entry FOYER with coat closet

• Sun-filled LIVING ROOM with custom built-ins, Plantation shutters, gleaming wood floors and access to rear deck

• Granite table space KITCHEN with ample cabinet space, breakfast bar, pendulum lighting, and wood flooring

• Updated POWDER ROOM

UPPER LEVEL..........................

• Upper level LANDING AREA with LAUNDRY CLOSET (washer and dryer installed in 2012)

• MASTER SUITE with double hung closet, wall to wall carpeting and two exposures

• Renovated, reconfigured MASTER BATH featuring custom tile work,  a large marble vanity and spacious shower

• Second BEDROOM with double hung closet, separate vanity area, and PRIVATE BATH with new shower

*Pull down stair to floored ATTIC and additional storage

This property has a “Walk Score” of 92 out of 100. This location is a Walker’s Paradise so daily errands do not require a car. Red Line Metro is just 0.4 miles away from this location. 

Year Built: 1981

Block: 4

Subdivision: Kenwood Forest II

Square Feet: 944

Condo fee: $215.00

Estimated Tax and Non-Tax Charges in the first fiscal year of ownership $ 5,518.00

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

OCTOBER STATISTICS CONFIRM STABLE HOME SALES MARKET

October data released by the Maryland Association of REALTORS® (MAR) reveal
continued strength in the state’s real estate market. The number of homes sold in October increased a robust 18.9 percent from the same time period in 2012, from 4,313 in 2012 to 5,128 in 2013.  Average and median prices increased 6.7 percent and 7.0 percent, respectively, with average price climbing $18,851 and median price up by $16,819.

“We are extremely pleased at the solid increase in home sales,” said MAR President Russ Boyce. “Increases in average and median prices also continue strong, and higher levels of homes under contract and active inventory indicate a healthy real estate market,“ he noted. Boyce went on to add, “The current inventory stands at 5.3 months, which is yet another sign that this is a strong market.”

Information From Maryland Association of REALTORS®

HUD ANNOUNCES NEW FHA LOAN LIMITS TO TAKE EFFECT JANUARY 1ST

Loan limits for highest cost areas of the country to be reduced

WASHINGTON – Today the Department of Housing and Urban Development (HUD) announced that it will implement new FHA single-family loan limits on January 1, 2014, as specified by the Housing and Economic Recovery Act of 2008 (HERA). Read FHA’s mortgagee letter detailing the agency’s new loan limits.
“As the housing market continues its recovery, it is important for FHA to evaluate the role we need to play,” said FHA Commissioner Carol Galante. “Implementing lower loan limits is an important and appropriate step as private capital returns to portions of the market and enables FHA to concentrate on those borrowers that are still underserved.”

The current standard loan limit for areas where housing costs are relatively low will remain unchanged at $271,050. The new national-ceiling loan limit for the very highest cost areas will be reduced from $729,750 to $625,500. Areas are eligible for FHA loan limits above the national standard limit, and up to the national ceiling level, based on median area home prices. Additional information and loan limit adjustments for two-, three-, and four-unit properties, and in Special Exception Areas, are noted in FHA’s mortgagee letter. An attachment to the Mortgagee Letter provides information on which counties are eligible for loan limits above the national standard. Borrowers with existing FHA insured mortgages may continue to utilize FHA’s Streamline refinance program regardless of their loan balance. The changes announced today are effective for case number assignments between January 1, 2014, and December 31, 2014.

This will be the first full implementation of loan-limit calculations under HERA. Approximately 650 counties will have lower limits as a result of this change in the governing law. The higher limits that have been in place for six years were established by the Economic Stimulus Act of 2008 as emergency measures to assure that mortgage credit was widely available during a time when private lending options were severely constrained. The lower loan limits under HERA were originally scheduled to take effect in January of 2009, however, due to continuing strains in credit markets, Congress delayed implementation several times.

The mortgage loan limits for FHA-insured reverse mortgages will remain unchanged. The FHA reverse-mortgage product, known as the Home Equity Conversion Mortgage (HECM), will continue to have a maximum claim amount of $625,500, with actual loan limits based on property value, borrower age, and current interest rates. Reverse mortgages allow homeowners age 62 and older to age in place by borrowing against the value of their homes without any requirements for monthly payments; no repayment is required as long as a homeowner lives in the home. The reverse mortgage is repaid, with interest, when the homeowner leaves the home.

Information from HUD.GOV website

New Posting on The Heart of Bethesda! Just Steps to Downtown Bethesda!

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5119 Manning Drive Bethesda, MD 20814

Price: $1,425,000

Beautifully appointed and expanded Cape Cod located just steps from downtown Bethesda. Built in 1938, a recent major addition and full renovation create the perfect combination of old world charm and luxurious modern family living spaces with exquisite finishes, delightful archways, handsome moldings, built-in mill-work, high ceilings, gleaming wood floors and other superb architectural details throughout.  The new layout offers a formal living room, elegant dining room with chair rail molding, and a sun-drenched family room addition that opens to the kitchen with coffered ceilings and inviting views. The renovated top-of-the-line chef’s kitchen features high end stainless steel appliances (Viking range, Sub Zero refrigerator and separate full Sub Zero freezer, Bosch dishwasher), granite counter-tops, large island and built-in desk area.  The main level also includes a playroom / 4^th bedroom, renovated full bath, mudroom area with expansive walk-in closet, and a rear deck and screened in porch overlooking the beautiful English garden. There are three bedrooms and two full baths on the upper level, including a luxurious master bedroom suite with decadent master bath, plus a bedroom level laundry room. The captivating grounds of this home have been meticulously cared for; the yard has stone walkways, colorful purple Beautyberry plants, remarkable Crape Myrtles and many more exquisite mature plantings. The home is complete with an deep private driveway and detached garage.  Ideally located near schools, library, shopping, coffee shops, Metro, the Crescent Trail and vibrant downtown Bethesda, this is the one you've been waiting for - Welcome Home!

MAIN LEVEL............................

• Inviting FORMAL LIVING ROOM includes crown molding, recessed lighting and hardwood floors

• Convenient MUDROOM area with side entrance, sports closet, and HUGE double hung walk-in closet with closet organizing system

• Sophisticated CHEF'S KITCHEN with Ivory Chiffon granite counters and custom cabinetry with retractable drawers, Sub Zero refrigerator, separate full Sub Zero freezer, stainless steel six burner Viking gas cook-top with double oven and grill, stainless steel Bosch dishwasher, recessed lighting, large island / prep area, wine cooler, built-in wine rack, desk area, generous pantry, decorative archways, 18 inch tile flooring, opens to family room and mudroom

• Outstanding FAMILY ROOM with coffered ceilings, custom built-in display shelving and cabinets, recessed lighting, handsome stone fireplace; this room opens to the kitchen, screened in porch, and the rear deck and yard via French doors

• Tasteful FORMAL DINING ROOM with chair rail molding, recessed lighting, pleasing archway, and hardwood flooring

• Renovated FULL BATH with glass enclosed shower, ceramic tile accents and wood vanity

• Comfortable PLAYROOM or FOURTH BEDROOM with crown molding, recessed lighting, ceiling fan, deep closet and hardwood flooring

UPPER LEVEL.........................

• OWNER’S SUITE: Extraordinary freshly painted MASTER BEDROOM with long hallway to ensure privacy, his and her cedar lined closets, recessed lighting, linen closet, hardwood flooring, and French doors overlooking beautiful English garden. Luxury MASTER BATH with Italian marble tile, double vanity, a jetted soaking tub, designer custom tile work, and a separate large glass enclosed steam shower with bench seating

• SECOND BEDROOM: Amazing bedroom with delightful alcove (currently being used as a desk area and closet), recessed lighting, pitched ceilings, tons of natural light and wood flooring  

• Renovated HALL BATH: with porcelain and glass tile accents, granite counter-top, bathtub / shower and window

THIRD BEDROOM: with two windows, crown molding, recessed lighting, and double door closet with built-in shelving

• Large LAUNDRY ROOM with energy efficient washer, dryer, built-in drawers and an additional storage closet

ADDITIONAL AMENITIES:

• Built-in speaker system

• Custom mill-work

• Built-in sprinkler system

• Side screened in porch

• Rear deck

• Natural gas forced air heating (three zoned)

• Natural gas central air conditioning

• Public water and sewer

• Detached garage with remote controlled garage door opener

SPECIFICS:

• Price: $1,425,000

• Lot Size: 7,773 square feet

• Living Area: 2800 Square Feet ( per Truplace)

• Legal Description: Lot 44 Block: 4

• Subdivision: Bradley Hills

• Year Built: 1938

Schools: Bethesda 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 $11,532.51.

Our November E-News Letter

Our November E-News Letter  Click on Link to Read the Full E-Newsletter

With the holidays fast approaching, we thought it would be appropriate to list some things we are thankful for:

  

We're thankful we live in the strongest real estate market in the country. Other areas are years away from a housing recovery, but our local market is very strong. In addition, the sharp fluctuations in market activity are leveling off. Our market is steady and stable.

We're thankful the government shutdown didn't greatly affect our market. With a large concentration of government workers and associated businesses, the shut down could have been disastrous to local real estate. It appears the shut down extended the Fall market, a good thing really. Houses are selling briskly, well past the time things normally "slow down". We're expecting high levels of activity right into the New Year.

We're thankful interest rates are still very low, and it appears they will stay there. The new appointee  for the Fed has said she wants to keep them there. Low rates mean more people can achieve their dream of home ownership, always a good thing.

Most of all, we are thankful for you, our clients. Without your trust, our business would be nonexistent. Your commitment to us, and the referrals you send us, are the reasons we are able to stay involved in this "cray business".  Without you, we are nothing. THANK YOU!

 

Barbara, Tom, Marc and Susan

Nalls Home Partners

New Listing! Pristine Dutch Colonial in Glenfield Manor - Open Nov 17th 1-4PM!

1712 Billman Lane Silver Spring MD 20902

$429,000

Click Here for the Virtual Tour

Barbara Nalls and Long & Foster Realtors are proud to offer this beautifully appointed, move-in ready, 4 bedroom 2.5 bath Dutch colonial home in sought after Glenfield Manor! This spacious property is in pristine condition, having been thoughtfully renovated and updated over the years. The main floor features a bright oversized living room, generous formal dining room with chair rail molding, an adjacent screened in porch, a gorgeous renovated marble kitchen which opens to a warm family room with a brick fireplace and a powder room. Upstairs, the well proportioned master bedroom suite has a separate sitting room and updated master bath, with practical his / her double hung closets. There are three additional large bedrooms and a hall bath on the upper level. The fully finished walk-out lower level has a large open recreation room with a sliding glass door to the backyard, a den / guest room, and an expansive laundry / storage room. Outside there is a delightful screened in porch (perfect for entertaining or just relaxing), a shed, and a tranquil fenced in backyard. The captivating grounds of this home have been meticulously cared for; the yard has mature plantings, colorful Azaleas, a vibrant Red Maple, a handsome Magnolia tree, and many more exquisite plantings. This home has a superb location convenient to shops and restaurants, Brookside Nature Center, Brookside Gardens, Northwest Branch Trail, equestrian trails, and scenic Pine Lake.  A beautiful house in a wonderful neighborhood. WELCOME HOME!

BARBARA NALLS 240-602-9035

MAIN LEVEL....................................

• Welcoming FOYER with coat closet and 12 inch ceramic tile flooring

• Expansive LIVING ROOM with gleaming hardwood floor and two exposures

• Distinguished formal DINING ROOM with hardwood flooring, chair rail molding, brushed steel modern chandelier, ceiling medallion and access to screen porch

• Renovated marble KITCHEN with breakfast bar, tile back-splash, updated appliances, gas stove, access to side yard and opens to family room

• Outstanding FAMILY ROOM opens to kitchen, with brick fireplace and crown molding

• Main level POWDER ROOM

UPPER LEVEL.........................

• Generous MASTER SUITE with large sitting room, two double hung closets, ceiling fan and three exposures

• Luxurious MASTER BATH featuring double vanity, a jet soaking tub, and a linen closet

• Second BEDROOM with good sized closet, switched overhead light /ceiling fan, and charming nook ledge –the perfect place to read a book

• Pleasing FULL HALL BATH

• Third BEDROOM with large closet, switched overhead ceiling fan and wood floors

• Fourth BEDROOM with switched overhead ceiling fan, good closet space and wood floors

LOWER LEVEL.........................

• Huge walk-out RECREATION ROOM with gleaming floors, good natural overhead lighting, and access to backyard

• DEN / GUEST ROOM with laminate flooring and natural light

• Large LAUNDRY / STORAGE ROOM with GE energy efficient washer and dryer, utility sink and tons of storage space

ADDITIONAL FEATURES.........

• Picturesque screened in porch

• Private driveway and sidewalks

• Wood floors on main and upper level

• Carbon monoxide ventilation and monitoring system

• Public water and sewer

• Natural gas heat, electric central air conditioning and natural gas hot water (new unit installed in 2012)

GREAT LOCATION.........................

One cannot beat this location.....The Glenfield Manor community has much to offer including Brookside Nature Center, Brookside Gardens, Northwest Branch Trail, equestrian trails, scenic Pine Lake, Wheaton Regional Park and much more.. Easy access to Georgia Avenue, Connecticut Avenue and New Hampshire Avenue. It's a home that gives you everything you want for practical living and commuting with style.

Schools:

Glenallan Elementary School

Col. E. Brooke Lee Middle School

DCC (Kennedy) High School

Year Built: 1969

Subdivision: Glenfield Manor

Square Footage Per Truplace: 3, 251 Sq. Ft.

Lot: 2  Block: G

Lot Size: 8,864 Square Feet

Estimated Tax and Non-Tax Charges in the First Fiscal Year of Ownership $4,589.11