Owning an investment property continues to be one of the best decisions I ever made.

Cell: (301)943-4370

adambashein@gmail.com

www.basheinhomes.info

Awesome day already.

Big personal real estate news and success.

Right before Easter I sent my renters a happy holiday note and let them know I was going to be out of communication a few days.

My renters responded saying thank you, we wish you a happy Passover and they plan to send me some happy news.

They emailed me last Wednesday. Opens up with 1 of them recently getting a great new job and them recently getting engaged, how much they love my condo and it has been a special place.

I am waiting for the next paragraph about moving but...

They continue that with the new job they will be in DC at least a few more years, would love to stay and even extend with a multi year lease, as I had present to them when they considered the condo last summer.

I'm thinking, "HECK YEAH", and after a short time period of analyzing the situation and the market, replied saying let's extend the currently lease by 2 years through and including the the end of July 2020 with proposed rent of $X that will be kept in place during that time.

And....this morning we are fully signed off on the lease extension!!!

This is so fabulous. Our lease was set to end July 30 and they had to give me 60 days notice of their intentions (the end of May) and now a lease is extended roughly a month and a half ahead of the game. I can now relax on Memorial Day Weekend, lol.

If it had been signed off yesterday, then it would have literally been de ja vu all over again! A few years ago on April 10, my previous tenant and I also agreed to a 2 year lease extension.

Two of the best moves I have ever made were buying a condo, even while a single guy and keeping the condo as an investment property when I got married. It has really paid off and I burned the mortgage a little back. I treat the condo like a business and have been mostly blessed with good renters and income.

Have you ever thought about buying an investment property? We should talk.

Top of the morning to you!

Have your colleagues, family or friends ever talked about buying an investment property, whether as a place they would first live in and keep as a rental when they move or buy a place to rent out right away?

I would be happy to meet and discuss the topic with them. Even if they aren't in the market to buy or sell but have a real estate question and want to talk about the market, have them contact me: (301)943-4370, adambashein@gmail.com for high service and low pressure. I always gave time for and appreciate your referrals.

Life is good!

Adam

adambashein@gmail.com

www.basheinhomes.info

Cell/Direct: (301)943-4370

Office: (301)921-4500 - ask for Adam

Licensed in MD & DC

RE/MAX Realty Group

information deemed to be accurate but not guaranteed

#leaseextensionfortwomoreyears

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#whatsbrewinginthehousingmarketaskadambashein

#realestatechatwithadam

Testimonial and Gesture from home seller

I have blessed with many kind words and testimonials from past clients but nothing like this.

Below is an email from my 11106 Bybee Street Seller.

So amazing and special.

I would love it if they buy a vacation home here. We really connected.

---------

Dear Adam,

Chag Pesach Sameach to you and Iris during this holy time of year.

Gee, it's been almost two weeks since I was last in Maryland. Seems I should (be) heading back there again now. But, thanks to all your outstanding work on my behalf, the work's all done and so I don't need to keep coming back.

Please accept these four Alaska Airlines Guest Passes as but a small token of my appreciation for all you did for me

Hopefully, you can use them to enjoy some fun R&R somewhere in the coming year.

Spring Break and high Summer can be difficult for flying standby, since DC is such tourist destination, but autumn and other off-season times can see flights with many open seats. I can gladly help you look at "Flight Loads", as needed.

Happy travels!

Fondly,

Paul & Beth Ann

Call:  (301)943-4370

Email:  adambashein@gmail.com

www,basheinhomes.info

Who do you know that is this thinking of relocating and wants a smooth move?  Even if they aren't ready to sell or buy and have real estate questions or want to talk with me about the market, it would be great to connect.  They can reach me at:  (301)943-4370 or adambashein@gmail.com.

Alternatively, I can initiate the contact; whatever they are more comfortable with.  I always have time and am thankful for your referrals.

Life is good!

Adam

adambashein@gmail.com

www,basheinhomes.info

Cell/Direct:  (301)943-4370

Office:  (301)921-4500 - ask for Adam

Licensed in MD & DC

RE/MAX Realty Group

information deemed to be accurate but not guaranteed

#daysIlovebeingarealtor
#Ilovenicepeople
#beyondappreciation
#amazingtestimonialandappreciationfromhomeseller
#forallyourrealestateneedsadambashein
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#MarylandRealEstate

I just sold 3132 Hillside Ave in Cheverly, MD. with instant equity for my clients! The awesome story is how with a language barrier we effectively communicated through the entire process.

Sold and settled!

Successful bank/foreclosure sale for my first time home buyers in sought after Cheverly, MD on a small street, 3132 Hillside Ave.

It is a split level home with 3 bedrooms upstairs with  a good size kitchen and a nice deck off of the dining room.

The lower level features a family/t.v. room and side entrance to the yard, as well as the 4th bedroom and full bath.  A few steps down, the open basement features the laundry room and a good size play area.

And, the buyers already have instant equity in the home as it appraised above sales price!

Call:  (301)943-4370

Email:  adambashein@gmail.com

www.basheinhomes,info

I am very thankful that the buyers were referred to me be a past client.  Other than buying or selling another home with me, the best compliment is referring me to your family, friends and relatives who are thinking of moving.

In addition the lender and the home owner's insurance person were excellent and I would never hesitate to refer them.

In any sort of working relationship, communication is a big key.  The buyers and I had very effective communication, which is particularly important for me to stress as there was a language barrier. We connected, understood each other and I was able to work hard to ensure they secured the purchase of this new home.

We had a full service settlement with a language interpreter...if you have friends and family where there may be a language barrier, we can work to have someone at settlement.   The inspector offered for a fee to have a language interpreter at the inspector, but the buyers passed on it.

As a realtor, I found this client's home buying process to be particularly rewarding and am so happy to have secured for them their new home at 3132 Hillside Ave in Cheverly, MD.

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An interesting note:  sometimes the land records and tax records show a home being located in different cities.  In this case, the home was listed as being in Cheverly, while the land records showed it being in Landover.  Neither is wrong.  If you ever notice this with a home you are in the process of buying, selling or already own, you should not be alarmed, and, at the same time, feel comfortable asking the settlement attorney about this to make sure it isn't an error.

I am here for them and will do whatever I can for customers to literally understand what is going on during their purchase or sale. In fact, the home inspector offered to include in fee an interpreter as well.  This is a real important service and value when people are signing papers for a massive purchase like a house.

I consider it my job to make sure my sellers and buyers understand the entire  home selling/buying process and work to meet whatever needs their may be, whether it is what times work and don't work for showing/seeing homes, what kind of loan(s) and home owner's insurance policy will work best for them, work through commuting issues to the best possible solution and working to have a language interpreter when necessary.

Who do you know that is looking to make a smooth move and needs a hard working, efficient realtor who will do whatever he can to make the selling/buying experience easiest and most pleasant for clients?  Even if they aren't looking to move now but have real estate questions or want to talk about the real estate market, I would be delighted to either reach out to them or them reach out to me...whatever is easier for them.

Call/Text/Whatsapp:  (301)943-4370, Email:  adambashein@gmail.com.

 I am thankful for and always have time for your referrals.

Life is good!

Adam

adambashein@gmail.com

www.basheinhomes.info

Cell/Direct:  (301)943-4370

Office:  (301)921-4500 - ask for Adam

Licensed in MD & DC

RE/MAX Realty Group

information deemed to be accurate but not guaranteed

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#CheverlyMDrealestate

#Adamsoldahomeincheverly

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#fullseeviceabdlanguageinterpreter

#effectivecommunication

#solutionstolanguagebarriers

#Ilovenicepeople

#peoplerefertheirfamilyandfriendstome

#whatsbrewinginthemarketaskAdamBashein

#RealestatechatwithAdam

Strategic marketing of my listing at 11106 Bybee Street and complete seller confidence resulted in the home going under contract with 10 plus bids over sales price!

My listing at 11106 Bybee Street in Silver Spring, MD

received 10 plus offers, including 2 with no contingencies!

Under contract in 8 days over list price with no contingencies!

If you are thinking of moving, list with me for sold results!

I have a fresh list of buyers who may love your home!

Call:  (301)943-4370

Email:  adambashein@gmail.com

www.basheinhomes.info

Unfortunately the owner of the home passed away in the fall.  His son regularly came to the area to, of course visit his father and to check on the house.  As the son checked on the house and leafed through the mail he saw my marketing pieces and invited me to meet him toward the end of January.  We talked about the house, the local market, what I suggested should be done to the home and whether we would be a good fit for each other.

Two days later he gave me the key to the house as well as to the car in the driveway---in case it needed to be moved for any reason and I managed the agreed upon home repairs over the next weeks.  It was tricky because we were having 1 contractor take care of interior and exterior work while there was uneven weather, and understandably the contractor wanted to make the most efficient use of his time and come to the house when work could be done simultaneously inside and outside of the home.  At the same time, the contractor knew I wanted the house to go on the market right after President's Day Weekend and I needed to give the photographer enough lead time to take pictures without falling behind schedule.  Thank goodness the contractor did a great job and we were ready to go to market by our target date.

A few days before going to market, the owner's son and I talked.  I told him the work was done, the home looked ready to go, I was ready to put it on the market and gave him a final suggestion on what price we should list the home at.  

The home went on the market the Thursday morning after President's Day Weekend and I we had 8 showing requests that first day!

We had amazing traffic on the home the entire weekend including...

AT LEAST 20 GROUPS WHO SIGNED IN AT THE SUNDAY OPEN HOUSE!!!

Three agents contacted me and asked if their buyers could have home inspections prior to writing offers to eliminate any inspection contingencies in their offers.

I went to bed that Wednesday night with 9 offers in hand and a very detailed spread sheet of the offers for my seller to review.  Overnight the terms of some offers changed, a few more offers were submitted and there were more more showing requests.

The seller's son and I met late Thursday morning and he had a very difficult decision.  We had a few really good offers over asking price and 2 offers had no contingencies at all ---no inspection, financing or appraisal contingencies!  Just a clear path to closing.  

He thought over the offers and by Thursday night we were under contract and I had a few happy seller.

I am so grateful that my marketing efforts worked as they resulted in an introduction that I might have never received.  I never met or was referred to the late owner or his son.  Upon meeting we immediately connected.  He had complete confidence, trust and faith with everything I planned to do to give him sold results.  He was there whenever a question needed to be asked, whenever I followed up and he never tried to "manage me".  

In addition to marketing, I attribute so much of the success to date on the listing on the owner's son being enthusiastic, trusting, confident in me and giving me the liberties to do what I thought was best and, again, I will say without him every trying to be on top of me or managing me.   We are under contract and hopefully will go to a smooth contract.  

Whether you, a family member, friend or colleague at work is thinking about moving, has a real estate question or wants to talk about the market, please pass my contact information to them.  The best way to reach me is by cell/text/whatsapp:  (301)943-4370 or adambashein@gmail.com.  I would love to meet them, appreciate your referrals.

Life is good!

Adam

adambashein@gmail.com

www.basheinhomes.info

Cell/Direct:  (301)943-4370

Office:  (301)921-4500 - ask for Adam

Licensed in MD & DC

RE/MAX Realty Group

information deemed to be accurate but not guaranteed

The possibility of First-Time Home Buyers receiving up to $5500 in assistance by using a certain loan product

Check out out the loan program  if you or someone you know who is a potential First-Time Home Buyer is interested in the possibility of receiving up to $5500 assistance with this loan product.

*The program works for first time home buyers in MD, DC, VA, NC, SC, Al,, and GA, so the program may work for your family, friends and colleagues who live in several areas!*

This piece is courtesy of one of my colleagues in the lending industry.  Contact him for more information and to see if the loan product is for you.

in VA, MD, DC, NC, SC, AL, FL, and GA

Cell:  (301)943-4370

Email:  adambashein@gmail.com

www.basheinhomes.info

And, if you,  family members, friends and/or colleagues are starting to think about buying a home, contact me for a free and confidential, no hassle home buying consultation.  Even if they aren't thinking about buying yet but are curious about the market, have them contact me at (301)943-4370 or adambashein@gmail.com to set up an appointment.  I am always appreciate and have time for your referrals.

Life is good!

Adam

adambashein@gmail.com

www.basheinhomes.info

Cell/Direct:  (301)943-4370

Office:  (301)921-4500 -ask for Adam

Licensed in MD & DC

RE/MAX Realty Group

information deemed to be accurate but not guaranteed

The magic price range in the December 2017 Housing Report for Single Family Homes in Montgomery County, MD, is $300k-$499,999

According to GCAAR's December 2017 monthly sales report for single family homes in Montgomery County, MD., more homes were listed for sale, went under contract and settled in the $300k-$499,999 price range than in any other price range.  There area lot of buyers in this price range.  

That being said, during December a good number of homes in other price ranges:  $200k-$299,999; $500k-$899,999.  

New listings, contracts and settlements in December were down significantly from December 2016.

With inventory down, the market continues to be solid.  Looking at the 'Average & Median Price' chart above, we see that prices went up significantly from 2016 to 2017, as the average sales price for 2017 was $594,820 while the median sales price was $480k.  "median price" adjusts and accounts for homes that sold significantly above or below most of the homes in the area.

Every market is different.

Call:  (301)943-4370

Email:  adambashein@gmail.com

www.basheinhomes.info

If family members, friends and/or colleague are thinking about buying and or selling in the Montgomery County, MD. area, please share this information with them and tell them that when we meet, I will do a custom market analysis of the area(s) they are looking to buy and/or sell in.  Some markets within Montgomery County, MD. are stronger or weaker than others.  Even if they aren't thinking about moving but have a real estate question or comment, I'd be happy to contact them or they can reach out to me if that is more comfortable by calling/texting/whatsapping me:  (301)943-4370 or emailing me:  adambashein@gmail.com.  I always appreciate and have time for your referrals.

Life is good!

Adam

adambashein@gmail.com

www.basheinhomes.info

Direct/Cell:  (301)943-4370

Office:  (301)921-4500 - ask for Adam

Licensed in MD & DC

RE/MAX Realty Group

information deemed to be accurate but not guaranteed

Some consequences and implications of waiving an appraisal contingency on your offer to purchase a home.

In a hot market and/or in situations where home sellers have multiple offers on a home that are very similar in terms, to make offers more attractive to sellers, either they ask or buyers offer to shorten if not outright eliminate some contingencies that are often in sales contracts.  In several recent multiple bid situations, the sellers via their realtors countered my buyers' offers, proposing among other things that my buyers remove the appraisal contingency.  I explained to them what the implications of waiving the appraisal contingency is and thought it would be beneficial to share this with you.

As part of the loan process on either a new purchase or a refinance, the appraisal report is a professional appraiser's opinion on the value of a home, which is forwarded to the lender, who bases the loan on the appraised value of the home.  The lender is looking to see if the appraised value is equal to or above the sales price.  When the appraisal comes in at a lower value than the sales price of a home, the lender adjusts the loan amount to match the appraised value.  

When a sales contract has an appraisal contingency and the appraisal comes in lower than the price in the sales contract, the buyer has the right to try and negotiate with the seller to see if the seller will lower the sales price to the appraised value or to an otherwise agreed upon sales price.   

When a home seller asks the home buyer to not have an appraisal contingency, it means that independent of what the home appraises at, the sales price will stay the same.  If the appraisal comes in at less than the agreed upon sales price, then the buyer must come up with extra cash at settlement to bridge the gap between the appraised value and sales price.  Without an appraisal contingency, a low appraisal cannot be negotiated.  A buyer with a low down payment and/or not extra financial resources may want and/or need the appraisal to come in at the sales price.  

On the other hand , a home buyer may offer such a large down payment that he or she may not need the home to appraise, as the loan is not for the full sales price.  So he or she may not care what the home appraises for and is confident that the appraisal will come in high enough to cover their loan amount.  That being said, some buyers feel better with an appraisal contingency, that they aren't paying above a professional appraiser's opinion on the value of the home.

When refinancing a home one owns, a home owner needs his/her current home to appraise at or above the price the owner purchased the home for.

Financially speaking a lender may approve a buyer for a loan that is at or higher than the sales price of a home, but when the appraised value comes in at lower than the sales price, the loan will be based on the appraised value, independent of the buyer's financial ability.

Call:  (301)943-4370

Email:  adambashein@gmail.com

www.basheinhomes.info

There are 3 situations where I might tell a buyer to perhaps consider waive the appraisal contingency:

1.  If the buyer is purchasing the home with cash.

2.  If the buyer intends to get a loan on the house, but has the financial ability to complete the purchase with cash and do a post settlement loan/refinance.

3.  If the buyer loves and need the home and/or its location, is planning on living in the home for such a long time that today's appraised value has little impact on the purchase, as the buyer has enough financial resources to complete the purchase just in case the appraisal comes in at a lower value than the contract price. 

Whenever a family member, friend or colleague tells you that he or she is thinking of moving, wants to talk about the real estate market or has a real estate question, please tell them that I would love to hear from them.  Either I can initiate the contact with them or they call/text/whatsapp me: (301)943-4370 or email me:  adambashein@gmail.com  - whatever is most comfortable for them..  I always have time for and appreciate your referrals, and am with my clients every step of the home buying/selling process.

Life is good!

Adam
adambashein@gmail.com
www.basheinhomes.info
Direct/Cell:  (301)943-4370
Office:  (301)921-4500 - ask for Adam
Licensed in MD & DC
RE/MAX Realty Group
information deemed to be accurate but not guaranteed