Friday, December 5, 2014

My listing at 700 Hermleigh Road in Silver Spring, MD Just sold!

Call:  (301)943-4370

A short while ago, I walked out of settlement for 700 Hermleigh Road, a colonial home in Kemp Mill, a subdivision in Silver Spring, MD.  The sellers were referred to me by another client, who sold one home and bought another home with me in the last year or so.  The best compliment I can get is a referral from satisified clients, customers, family and friends.

This is a very unique home on just under a half an acre of land, with 5 bedrooms upstairs; a main level bedroom/au pair suite; featuring a kitchenette and private bath; a main level living room, dining room and kitchen; plus a lower level play area and a private office. 

The buyers are moving into the neighborhood from the Woodside area, another part of Silver Spring.  They live in a town home and with their growing family, it was time to find them to move.  Their best friends, live just a few houses away from 700 Hermleigh Road.  It's a very social block and subdivision, so I wish the buyers many new friends and memories at 700 Hermleigh Road.

Whenever you or someone  you know of is thinking of moving, selling and/or buying, has a real estate question, and/or is curious about the market, have them contact me today:  (301)943-4370 or adambashein@mris.com.  I always have time for and appreciate your referrals.

Life is good!

Adam Bashein
Licensed in MD &DC
Long & Foster Real Estate, Inc.

adambashein@mris.com
www.basheinhomes.info
Cell:  (301)943-4370
Office:  (301)469-4700 - ask for Adam
information deemed to be accurate but not guaranteed


Thursday, November 20, 2014

Another Silver Spring, MD home sale by Adam: 11718 Kemp Mill Road in Kemp Mill. Great value for my buyers.

Call:  (301)943-4370
 
It was a pleasure helping my buyers get a fantastic deal on their home purchase at 11718 Kemp Mill Road, in Silver Spring, MD.  They needed a bigger home, in a very specific part of the neighborhood and everything worked out perectly.  When we came to an agreement on terms with the seller, I thought it was a great value for my buyers and this was confirmed by the home appraisal coming in significantly above the sales price. 
 
These were strong buyers, which helped in the negotiations.  They were able to get approved for a loan for the sales price without having to sell their current home.  Many buyers who are moving from one home to another home want their home purchase to be contigent on selling their current home.  Fortunately, my buyers made their offer more attractive by not having a home sale contingency. 
 
This would be a great home both for a first time home buyer, who has the resources to get in the price range and a perfect home for a move up buyers.  Featuers inside the home include 3 main level living spaces; a main level laundry area; 4 bedrooms upstairs and a large basement with a rough in for a bathroom.  Outside is a large level back yard and a storage shed.  There is plenty of parking with this long two car wide driveway plus carport.  My buyers should be blessed with many memories at 11718 Kemp Mill Road.
 
 
 
 
When it comes time for you, a friend or family member to move, please call.  I am here to represent your interests and get you the best value possible, for buying and selling in MD and Washington, DC.
 
Even if you aren't thinking of moving but have a real estate question, please contact me. I would love to speak with you and always have time for your referrals. The best way to reach me is by
cell:  (301)943-4370 or by email:  adambashein@mris.com
 
Life is good!
 
Adam Bashein
Licensed in MD & DC
Cell:  (301)943-4370
office:  (301)469 -4700 - ask for adam
Long & Foster Real Estate, Inc.
information deemed to be accurate but not guaranteed


Tuesday, November 4, 2014

Buy while the asking price for rental properties is going down!

Call:  (301)943-4370
 
 
 
 
 
 
 
An interesting observation and discussion at this morning's office meeting. 

Agents have been noticing more price reductions lately in rental properties.  It could be that the properties are overpriced; it could be a property condition issue; it could be that it isn't prime rental season though people move all the time for a variety of reasons and it could have something to do with the low interest rates.  Have you seen the rates lately, over the last couple of years compared with the early to mid 2000's?!  Some investors are worried that would-be renters are tempted and/or able to buy homes with the great interest rates. 

Have you ever noticed that the higher interest rates are, the higher the asking prices tend to be for rentals? 
While there are situations when one cannot buy, shouldn't you get ahead of the game and buy now with low rates?

If you don't, you could be somebody who keeps investors happy because when rates hit a certain point, the monthly payments might not be where you are comfortable and/or able to make a purchase.  The only good renter is mine :-).

If you or someone you know is thinking about relocating, whether it is buying or selling, he/she wants to talk about the market and/or has a real estate question, contact me today. I always have time for and really appreciate support, interest and referrals.

Life is good!

Adam Bashein
Licensed in MD & DC
adambashein@mris.com
Cell:  (301)943-4370
Office:  (301)469-4700 - ask for Adam
Long & Foster Real Estate, Inc.
information deemed to be accurate but not guaranteed


 

Tuesday, September 30, 2014

Another Silver Spring, MD Sale by Adam Bashein - 628 Kenbrook Drive in Kemp Mill.

Call:  (301)943-4370
 
 
It was my pleasure helping my buyers secure this beautiful split foyer in Kemp Mill, a subdivision in Silver Spring, MD.  This is one of the larger split foyer models in the neighborhood with both a main level dining room and living room (which also makes a good main level recreation space).  In addition, this home features a large walkout basement.
 
This home is in a fantastic location, very close to the local Kemp Mill Shopping Center as well as other nearby supermarkets and malls.  As far as recreation, there are parks nearby.  This also makes for a great commuter home, being near a local public bus stop, a few minutes away from the Wheaton Red Line Metro Stop and close to Route 495 - easy to commute within MD, to Washington, DC and Virginia. 
 
The buyers had specific wants and needs, and I was fortunately able to negotiate a good deal for them.  The home was on the market for just over 2 weeks and had a pretty active open house.
 

 
Whenever you are thinking of moving or know of someone who is thinking of moving, I would love to meet, discuss wants and needs and take them through a smooth buying/selling process. It would be my pleasure to hear from you any time you or your family, friends have a real estate question or you want to know about the market activity in your neighborhood, other areas. 
Call me:  (301)943-4370 or Email me:  adambashein@mris.com
 
Thank you!
 
Adam Bashein
Licensed in MD & DC
Cell:  (301)943-4370
Office:  (301)469-4700 - ask for Adam
Long & Foster Real Estate, Inc.
Information deemed to be accurate but not guaranteed


 
 
 

Tuesday, August 19, 2014

The importance of being on a united front, even in an "unpleasant situation" when selling

Call:  (301)943-4370
 
A little over a year ago, one of my buyers put a contract on a home that was a short sale. Regretfully, it was a divorce--the sellers were getting divorced. Only the husband was on the title. He wanted to sell and listed the home for sale with a realtor. His soon to be ex wife was in the house and didn't want to move. Apparently she didn't want to the sale.   She must have found some amazing lawyer and/or there was a sympathic judge, because she went to court and successfully blocked the sale.  The contract was voided.  I am curious how she won, considering she wasn't on the title.
 
This home is now back on the market... as a foreclosure.  The question that begs to be asked is if  the seller's soon to be ex really thought the seller would keep up with mortgage payments, so she could continue living in the home and not be forced to move?  If she wanted to/intended to stay in the home, didn't she realize she would probably have to take over the mortgage payments and have a legal document drafted, addressing the ownership of the home, payment so the woman could live there as long as she wanted (if she was responsible in taking care of the mortgage) and the seller could go on with his life, with this house off of his books?  I am sure there are other possible ways that the situation could have been handled but I don't know many of the facts and I am not an attorney.
Divorce is sad and can be ugly. I mean, even if both owners were on the title, it could have been complex selling the house, if 1 of them didn't want to sell, they didn't agree to a price, didn't agree how to divide proceeds if the home sold, etc.
Easier said than done, but you have to sometimes take the emotions out of it and deal with the task at hand, find a solution.
Otherwise it is a lose lose. The man now has a foreclosure on his record losing his house for nothing and the woman had to find a new place to live.
We have to be ready for all twists and turns in life.  My biggest hope is that all parties hear talked to real estate attorneys who discussed with them in advance the implications for cooperating and not cooperating in the sale of the home. 
 
 
Whenever you or someone you know is thinking of moving, I would love to speak.  I would love for you all to also feel free to call/email whenever you have a real estate question or want to talk about the market. I appreciate and always have time for your referrals.
 
Thanks!
 
Adam Bashein
Long & Foster Real Estate, Inc.
Licensed in MD & DC
Cell:  (301)943-4370
Office:  (301)469-4700 - ask for Adam
information deeemed to be accurate but not guaranteed
 
 
 
 
 
 



Thursday, August 7, 2014

Thanks to you, I was just recognized as One of the Top Office Producers for the 2nd Quarter of 2014!

Cell:  (301)943-4370

 


I want to thank each and every one of you very much for thinking of me for your own real estate needs and referring me to friends, family and colleagues who are looking to make a move.  It was very humbling to be named a top office producer for the 2nd quarter of 2014 and I couldn't have done it with out you!

Most sincerely,

Adam Bashein
Long & Foster Real Estate, Inc.
Cell:  (301)943-4370
Office:  (301)469-4700 - ask for Adam
adambashein@mris.com
www.basheinhomes.info
Licensed in MD & DC
information deemed to be accurate but not guaranteed






 


Sold and I found the buyer...Beautiful townhome in Olney, MD - James Creek

Cell:  (301)943-4370
 
 
One of the most rewarded compliments a realtor can get is when a colleague refers him or her to buyers/sellers.  These buyers were referred to me last summer and they recently settled on their first home...this beautiful townhome in an Olney subdivision called James Creek.  This townhome was built in the 1990s and is in wonderful condition.  The entire home is updated, included a wonderful kitchen. 
 
 
I hope these buyers will enjoy many years in their new home.
 
 


Anytime you or someone you know is thinking of moving, think of me. I serve all of Maryland and Washington, DC.  Even if you aren't in the market, but have a real estate question, I would love to talk.
 
Thanks!
 
Adam Bashein
Long & Foster Real Estate, Inc.
Cell:  (301)943-4370
Office:  (301)469-4700 - ask for Adam
Licensed in MD & DC
information deemed to be accurate but not guaranteed


 


Another Silver Spring (Kemp Mill Farms), MD Sale by Adam

 Call:  (301)943-4370

Some home searches involve very specific types of needs in both model and location.  And, by location, I don't just mean city or subdivision.  This home is a rare, with 4 main level bedrooms and was also in very close proximatey to a destination that the buyers wanted/needed to be in.  The home search took years and I am so happy for the buyers that we came across a home that was a great match for their wants and needs.







 



Whenever you, your family or friends or thinking of moving, think of me.  I will guide you every step of the way, whether the buying/selling process takes a few weeks, a few months or even a few years.  As long as you are a ready, willing and able buyer, motivated to move with focussed wants and needs, I am here for you.  Even if you aren't in the market but have a real estate question, let's talk.

Thanks!

Adam Bashein
Long & Foster Real Estate, Inc.
Cell:  (301)943-4370
Office:  (301)469-4700
adambashein@mris.com
www.basheinhomes.info
Licensed in MD & DC
information deemed to be accurate but not guaranteed










Thursday, July 17, 2014

An analysis of the June 2014 Silver Spring, Maryland Real Estate Market

Call:  (301)943-4370

 
How is the Silver Spring Market?  Let's first look a general look at the Montgomery County, MD Housing Report for Single Family Homes, courtesy of GCAAR.


 Yes, neighborhoods vary, but this trend is important to look at as well to get a feel for the local market of single family homes. Listings were up by 14.4% in June compared to June 2013 and listings are up year to date 44.1% from last year. Everyone is hearing it is a good time to sell, good interest rates. The percent of contracts was down compared to last June and comparing last year to this year, year to date. It looks like more homes were put on the market in June than went under contract, so there is a net of more inventory. Settlements were also down compared to last June and overall last year.

To me the listings and contracts sections are most relevant. If we look to the right of the page, 'Sales Trend', "contracts ratified per month", you can see the market was very hot last June, with about 1000 homes going under contract. The numbers dropped for a few months, increased in October and then dipped until January when the market got hot again....even with the bad weather coming contracts trended up in February, March and April before going down in May and June. My theory on the winter is that some sellers held back their homes until the weather was better and buyers so a lack of inventory. Going down to the pie chart, 12.2% of the contracts were in the $500k-$599999 range and 9.1% were in the $600k to $699999 range. 8.2% were in the $700k range to the $799999 range. Right below that is the average and median price of homes that have been going under contract. Average is literally taking the sales prices and dividing them out. Median ties to accounts for homes that were either a lot higher or lower than the other homes and impacted the average.   

The next 4 pages are from a June 2014 market report from Long & Foster, looking at the 20901,20902,20903,20904,20905,20906,20910 zipcodes...Silver Spring. More focussed on our market. 
 
 
 
 
 
 
 
Looking at page 1 above, compared to last year, units sold up, active inventory the same about, median sales iceup, days on marked up. The number of homes on the market in June was l5% less than the number of the homes on the market last June, so inventory is working in a seller's favor. 
 
The next page (below/ page 2)  gives a breakdown of condos/coops, attached and detached homes on the market.    The median sales price in June 2014 was up, $369k compared to $350,500 in 2013.
 
 
 
 
 
 
 
 
Page 3 (below) shows that compared to last year the Silver Spring market has more listings and more contracts than a year ago and the ratio of asking price to sold price stayed the same at 98.7%.
 
 
 
 
 
The box on the right corner estimates that if no other homes were listed, it would take 2.2 months for all Silver Spring homes on the market to sell, which is down by 3% compared to last June. 
 
 
 
 
 
Page 4 (above), the last page of the report (above) says that in June it took on average 34 days for a home to get under contract compared to 31 days last year. 
 
Generally speaking it is considered to be a "seller's market" when houses sell in 4/5 months or less and a "buyer's market when homes are the market beyond 4/5 months.  However, based on the above statistices, Between 1 and 2 months on the market is a relatively long time for a home to be active in the Silver Spring, MD. market.   Of course, there are variables which impact the days a home may be on the market, such as number of buyers looking in different price ranges.  That being said, the home probably needs to be repositioned in price and/or property condition if it hasn't gotten under contract within a month or so.  In fact, it is my suggestion that one's first price adjustment should be if a home has been on the market for 2 weeks and/or 15 bonified buyers (not neighbors who are just curious) have gone through the home and haven't made an offer, that the price be adjusted and adjust the price/property condition again if in a couple weeks it is still on the market.
 
You don't often get a second chance to make a first impression.  The most activity on a home tends to be the first 2 weeks on the market.  So it is important for a home to show well and be priced well up front.
 
Whenever you or someone you know is thinking about selling your home, I would be happy to come over to look it over, give suggestions on any work/staging you could do to make the home more appealing to buyers and also suggest a price range for listing your home.  I appreciate and always hae time for your referrals.
Thanks!
 
 
Life is good!
 
Adam Bashein
Long & Foster Real Estate, Inc.
Licensed in MD & DC
Cell:  (301)943-4370
Office:  (301)469-4700 - ask for Adam
www,basheinhomes.info
information deemed to be accurate but not guaranteed
 






Wednesday, July 16, 2014

Listed and sold in 19 Days in Tivoli, a Subdivision in Silver Spring, MD! How did the sellers find and choose me?


Call:  (301)943-4370






 
















A few months ago a person found me on Trulia and sent me a message with a few real estate questions and questions about the Tivoli real estate market.  Tivoli is a subivision in Silver Spring, MD, just off of Randolph Road, between Georgia Ave and New Hampshire Ave.  The gentleman told me that his friends are selling and would recommend me to them.  A few weeks later a gentleman calls me to come to his home in Tivoli and there was an instant connection between me the gentleman and his wife.

In real estate, one saying is that it only takes 1 buyer.  We got quality traffic but not a lot of traffic.  In fact the sellers were thinking about taking the home off of the market so the wife could go on vacation to see her family, who lives out of the county, and maybe put it back on after she returned.  They were nervous that a contract didn't come in the first two weeks.   Literally the day after we withdrew the home from the market, an interested buyer called to see the home and we put a contract together.  You never know.  It only takes an interesting buyer and we got a contract in under 3 weeks, which is wonderful.

Today we settled and the sellers gave back to me this plant which I brought over when we first met.
They said the plant brought luck for the sale and they want it to bring luck to my business and my life. The sellers said that they chose to work with me because of the many testimonials people have written about me, how responsive I was to their questions and my understanding of the market.  

So, the next time one of your family members or friends is thinking about relocating, tell them that their first move should be contacting Adam to discuss the market.  Even if they aren't thinking of selling but have a real estate question, I would love to talk.

Life is good!

Long & Foster Real Estate, Inc.
Adam Bashein
Licensed in MD & DC
Cell:  (301)943-4370
Office:  (301)469-4700 - ask for Adam
Email:  adambashein@mris.com
www.basheinhomes.info
information deemed to be accurate but not guaranteed


HOME BUYERS: DON'T LEAVE MONEY ON THE TABLE AT SETTLEMENT!

Call:  (301)943-4370
 
 

Some home buyers are financially qualified and approved for mortgages by their lenders but either don't have the available cash for real estate settlement fees or they would rather use that cash available for home projects than for their closing costs and they wouldn't buy a home if they didn't have money available to personalize the home with some renovations.
In their buyer consultations, real estate agents and lenders explain to their clients that offers on homes can be structured so the seller pays the closing costs at settlement. Depending on jurisdiction and price range, buyers are told to structure their offers so that the sellers are give X% closing cost help at settlement.

Sometimes during negotiations between buyers and sellers, the sales price and seller credit numbers are moved around and the buyer(s) forget to confirm with their lender before signing off on the final terms that all the closing cost help they are due to receive from the sellers can be applied to their purchase. Did you know that any closing cost help from sellers that cannot be used by the buyers at settlement stays with sellers? That is right. You cannot ask/demand that the sellers reduce their sales price to account for the unused money.
When negotiating the home inspection contingency with sellers, it is important for buyers to ask their lender how much of a seller credit they can accept and be able to use either they prefer the money to making the repair(s) and/or the sellers prefer to give money instead of making the repair(s).
Although buyer agents aren't "responsible" if buyers cannot use the entire seller credit, they ought to ask the buyer's lender and/or settlement attorney about the dollar figure and if it will work because the buyers will likely ask their agents why they didn't check into this.

At a recent settlement on one of my listings, the seller credit couldn't completely be used. About $20 couldn't be used in the end, which isn't bad. But it took creativity. For example, the buyer's lender let the buyers pre-pay 12 months of their association fees with some of the seller credit. While it was a shame that the buyers couldn't use everything, I felt a relief that it was such a small amount of money that they seemed calm. It was a smooth transaction. There isn't anything like excitement at the settlement table. It is important for buyers and sellers to see the final closing costs in advance so they are not surprised and if something surprising comes up, it can possibly be resolved.
There is an old saying: measure twice and cut once. That is how I feel about seller credits. Check carefully up front if you are asking for it/negotiating for it in your offer and if you are asking/being offered it based on the home inspection.
Don't leave money on the table.
Whenever you or someone you know is thinking about moving or has a real estate question, I want you to call or email me. I am here to help and always have time for your referrals.
Life is good.
Long & Foster Real Estate, Inc..
Adam Bashein
Licensed in MD & DC
Cell: (301)943-4370
Office: (301)469-4700
adambashein@mris.com
www.basheinhomes.info
information deemed to be accurate but not guaranteed




Friday, June 27, 2014

My listing at 3327 Tidewater Court in Olney, MD just sold!


Call:  (301)943-4370
 

This sale was all about patience and fortitied on my seller's part.  One of the most difficult listings I have had because it was hard to find a lender who could underwrite in this community.  When lenders look to underwrite loans, they look at many things, particularly in a condominium community or H.O.A. community, including but not limited to the ratio of primary residents to investors; how current owners are on paying their monthly dues and pending litigation in the community. 

We had a very limited pool of buyers to target and ended up selling this home as a cash deal.
The buyer got a great value for this 3 level condominium unit at 3327 Tidewater Court  in the Olney Towne  community.  Huge eat in kitchen with stainless appliances---2 dishwashers; eat in area, 3 pantries, re-faced cabinets.  Behind the kitchen is a dining room with sliders to a gated patio that backs to trails.  Main level powder room.  Upstairs are 3 bedrooms, including a master with private bath.  Downstairs has a great play/recreation area plus an awesome laundry, storage area...possible to ad a powder room downstairs.

I am grateful that my clients listed their home with me and how they stook with the sales price, despite some interesting turns the transaction took all the way to settlement.   The bottom line is that we got the desired result...the home sold.

Not every sale or purchase is easy or smooth, but I will be with you and yours every step of the way. When you or someone you know is thinking of relocating, your first move should be calling me.
Even if you aren't in the market, but have a real estate question, I would love to talk.

Life is good!

Adam Bashein
Licensed in MD & DC
adambashein@mris.com
www.basheinhomes.info
Call:  (301)943-4370
Office:  (301)469-4700 - ask for Adam
Long & Foster Real Estate, Inc.
information deemed to be accurate but not guaranteed







My buyers just purchased their first home in Kemp Mill, a subdivision in Silver Spring, MD!


Call:  (301)943-4370
 
 
 
Congratulations to my buyers on purchasing this extremely well kept home in Kemp Mill, a subdivision in Silver Spring, MD.  I must commend the sellers for taking very good care of the home.
It showed really well. 
 
Bybee is a wonderful quiet street nestled close in Kemp Mill.  Truly a destination street, convenient to public transporation and the Kemp Mill shopping center.  Easy commute to Washington, DC and Virginia.
 
 
May my clients enjoy many years in their new home at 11208 Bybee Street.
 
 

Whenever you or someone you know is considering getting in the market or has a real estate question, it would be a pleasure to connect.  I always have time for and really appreciate referrals.

Life is good!

Adam Bashein
Licensed in MD & DC
www.basheinhomes.info
adambashein@mris.com
Call:  (301)943-4370
Office:  (301)469-4700 - ask for Adam
Long & Foster Real Estate, Inc.
Information deemed to be accurate but not guaranteed.

 

Tuesday, June 10, 2014

A great renovation: creating another living space without building an addition and changing the look of a home

Call:  (301)943-4370
 
One of my clients decided to create an in-law suite because there was a strong possibility that one of their parents was going to move in with them.  So, a question that came into play was whether an addition would be necessary or if space in the home could be re-configured gracefully.

The owners decided that they didn't 'need' their former garage and so they turned into a fully equipped in-law suite.  The suite is just off of the family room. You enter into the kitchenette, which has a good number of cabinets and a sink.  The room to the right is a private bath with shower and the room to the left is a private bedroom.  It feels like a private living space. If they wanted to, they probably could have even created a private entrance into the home. But that could be done some time down the road by anyone.

When one creates an in-law suite/main level bedroom, he/she really appreciates having a powder room in the main living area of the home.  Not all model homes have a main level powder room.  This home does.  So, guests don't have to go through the in-law suite in order to wash up.  Real privacy.  The owners were also fortunate to have a garage space that could be converted into a full equipped in-law suite.  Many home owners would have to put an addition on their home to accomplish this. An addition was an option with this home as it is on a huge lot.  However,
re-purposing the space saved the owners a lot of money and from the outside, you can barely tell that their used to be a garage. The home kept its exterior integrity if you will.

Below are some pictures of the renovation:





 
 
 
Kitchenette in the in-law suite, with refridgerator, sink, cabinets, space for microwave
and window for daylight.



Private bedroom in the in-law suite, with closet space, room for desk and natural light.













































Fully equipped bathroom in the in-law suite























Any time you are thinking of doing a home renovation, I would love to come over and see your home, discuss options and provide any input.  Also, I have a rolodex of great contractors and would be happy to refer you to someone.




By the way, speaking of referrals, whenever you hear of someone who is thinking of relocating,
I am here to help.

Thank you!

Adam Bashein
Licensed in MD & DC
adambashein@mris.com
www.basheinhomes.info

Cell:  (301)943-4370
Office:  (301)469-4700 - ask for Adam
Long & Foster Real Estate, Inc.
information deemed to be accurate but not guaranteed