Thursday, March 31, 2011

Successful Foreclosure Sale in Downtown Silver Spring - Park Sutton Condominium - that my client bought for less than $100k!

Whatever your real estate goals and whatever price range you are working in,I always have time for you. You will get 110% effort and dedication from me whether the home is $100k- or $1,000,000+ and whether it is a "traditional sale", "short sale" or "foreclosure",like this home.

This 1 bath, 1 bath condominium unit that I just sold in Park Sutton Condominium is located in Downtown Silver Spring, just outside of Washington,DC. Great location. Park Sutton has some awesome amenities including being a pet friendly building,having a swimming pool and sauna.

Thank you for your business and I greatly appreciate your referrals.
I'm anywhere you want to be in Metro DC.


Adam Bashein
Licensed in MD & DC
Cell: (301)943-4370
Weichert Realtors

Tuesday, March 29, 2011

Buying homes with cash

What's in your wallet? According to a study by the National Association of Realtors (NAR), 33% of home sales in February were CASH DEALS. A number of these homes were foreclosures bought by investors to renovate and resell. Cash deals are due to a combination of factors in "traditional sales", short sales and foreclosures:

(1) Homes being priced at a point where some buyers can make more attractive all cash offer instead of contingent on loan approval. When all offers are equal,cash wins out over contingent on loan approval.

Real estate transactions can settle quicker with cash deals than with buyers getting mortgages. This is particularly important for short sales, when the owner is trying to sell his/her home before it forecloses. There are lenders who can close loans quickly to avoid home going into foreclosure. In short sales there are also some deals where a "professional negotiator" is involved and/or the seller's lender seems more cooperative/understanding of what it takes in time for a new buyer's loan to close. So they work better with buyers' loans in trying to avoid their clients (the sellers)foreclosing.

(2)Depending on the property condition of a home,some lenders won't fund a buyer's loan, which is a seperate issue from buyers being approved for loans. In such a case,only all cash deals will work.

Often investors who can do home improvements themselves and/or with their own work crews, look for homes at certain price points that they can renovate and either resell or rent. To this point over 23% of sales in February were purchases by investors(NAR).

If you or someone you know is thinking of selling and/or buying a home,has a real estate question or wants to know about their "local market" in Metro, DC, give me a call or send me a message with their contact information

I am hear to help.

Life is good!

Licensed in MD & DC
CELL: 301-943-4370
Weichert Realtors
301-718-4100 ext. 132

Thursday, March 10, 2011

Updated 4 bedroom colonial with garage on side street in Washington, DC

Welcome home to 1515 Underwood, NW. This cozy colonial home was built in 1939 in Brightwood, a subdivision in upper Washington, DC. The home has 4 bedrooms, 3.5 baths and a detached garage.

The current asking price is $635k. The MLS number of the home is DC7533407.

The home, a ReMax listing, is located just off of 16th Street, NW, between 16th and Luzon Streets, NW. 16th Street is one of the main streets. If you drive south and it take it to the end, you will be just a few blocks from the White House. It is near Rock Creek Park. If you go north on 16th Street, you cross the state line, entering Maryland. If you turn right on Colesville Road you a pass shopping area and the Red Line Metro (Downtown Silver Spring Stop). If you take 16th Street to the end, you intersect Georgia Avenue in Silver Spring and are very near I-495. It is also located near Walter Reed Hospital. So, the home is in a very central location.

The home has really nice bricking on the front outside of home complimented by black shutters. Good curb appeal. Inside you feel charm with wood floors, some wood doors and wood moldings.

Main level of home has hardwood floors. To the front left of main level is a family room with 3 windows and a fireplace. This leads to nice dining room area.

Off of the dining room is what looks like an addition. The room is ideal for an office with built-ins, a ceiling fan and door exiting to back yard. There is a flagstone patio and fenced back yard. Good size yard.

Back to dining room that leads to kitchen with granite counters...almost a cream/tan color as base for the counters with speckles. Stainless appliances and cherry cabinetry...cabinetry has knobs that compliment appliances well. There ceramic flooring to compliment counters. Kitchen also has a door leading to the back yard.

Upstairs also has hardwood floors. Once nice feature as you walk up the steps are 2 windows on the side wall of the home. 2 bedrooms have ceiling fans, closets with double hungs (2 levels for hanging clothes like suits, shirts, skirts and pants) and built in shelving. The hall bath has a high ceiling and contemporary sink.

The Master bedroom is across the hall from other 2 bedrooms to create some privacy. Good size room. The room gets natural lighting from the 3 windows. It has a closet with double hungs, as well as 2 built-in shelving units. The master bathroom is deep, has a shower, and a contemporary sink that was likely recently installed (at the same time the hall bath's sink was installed). The bathroom also has a high ceiling.

Both baths themselves are in pretty good shape, not to say they couldn't use updating or a little touch up.

Across from master bedroom are steps leading to 4th style. Walk in closet, good size room. Ceiling is a good height...I didn't have to crouch to be in there as you do in some lofts because of the roof. If it lacks anything, it would be nice if the owners put in a private bath. Perhaps the next owner of this lovely home will make that home improvement. But the stairs are relatively easy to go up and down (not spiral staircases or a fold down ladder), I think, to the next level. The room does otherwise feel like a private space, which one might enjoy.

The basement is carpeted in a medium purple color. As you go down the steps there is a window on the side wall to provide more light. In the basement there is a 2nd fireplace in basement + 2 windows. The back of basement is unfinished. The washer/dryer is there as is powder room...toilet and sink, second refrigerator, plus exit to the back--walkout basement. You could finish the area and/or use it for storage.

I think the house has a warm feel and has been well kept. If I did anything to the home, it might be buffing the wood floors and if you want to update the bathrooms, which are perfectly usable and in good condition. Finally, I would consider adding a bathroom in the loft bedroom.
As I said before, the home is in a central location, in good condition and a good value, I think.
If you or someone you know is interested in knowing more information about this home, getting a private tour and/or talking about the neighborhood, please let me know. I am here to help.

Office Top Producer for December 2010, January 2011

Cell: (301)943-4370

Adam Bashein

Licensed in MD & DC

Weichert Realtors

301-718-4100 ext. 132

Thank you for your kind referrals

Information deemed to be accurate but not guaranteed.