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Top 10 Homeowner Tax Deductions

Homeowner Tax Deductions

Since we are getting painfully close to tax day … I thought it might be useful to share with you the top 10 homeowner tax deductions that are allowable under certain circumstances.   This list is for informational purposes so make sure you consult a tax attorney or CPA with any questions you may have! 1. Mortgage Interest Deduction Homeowners who itemize their deductions can deduct the interest paid on a mortgage with a balance of up to $1 million. While there is some movement to limit the total itemized deductions for taxpayers with higher incomes (over $400,000), the current deductions holds for all tax brackets. Americans save around $100 million every year by deducting mortgage interest on their … [Read more...]

Filed Under: Home Tips, Local Market News

5010 Cedar Croft Lane, Bethesda MD

5010 Cedar Croft La Web

FOR SALE ... Finest Elevator Townhome in Bethesda!  A 5-STAR property in every regard!  The finest home on the best lot in Bethesda Crest will impress even the most discerning buyers!  Over 6,000s' with 5 bedrooms, 4.5 baths plus a 3-car garage, cherry-panelled elevator & dramatic circular staircase w/iron rails & Shoenbek chandelier. 10' ceilings on main, cherry-paneled library, stunning gourmet kitchen + 2 high-end wet bars w/SS Subzero & Viking appliances. Huge master suite w/enormous dressing room & dual bath. Less than 1 mi to 495, NIH, Walter Reed/Navy Med & downtown Bethesda! VIRTUAL TOUR      LISTING FACTS       REQUEST A SHOWING Beds 5 Full … [Read more...]

Filed Under: Featured Listings

Real Estate ROI Beats Dow, S&P and NASDAQ!

ROI 12 2012

What a great time to buy a Bethesda home whether you are a first-time home buyer or upgrading to a larger home!   This is my favorite statistic to track since it demonstrates dramatically how investing in real estate has greatly exceeded stock market returns during the same timeframe even through all the ups and downs we have all experienced over the last few years.   Not only are you making a great long-term investment when you buy a home, but you are improving the quality of your life.   The last time I published this real estate return on investment chart on my site was in September 2011 when the ROI was 41.3% so it has increased to 46.2% in just over a year!  We should see even stronger gains over the … [Read more...]

Filed Under: Local Market News, Real Estate News

Bethesda Market Update November 2012

Nov 12 market data web

The local Bethesda real estate market in November 2012 continues to heat up as extremely low inventory is driving prices higher.  As this Bethesda real estate market trends report shows,  the total sales were up 10% in November 2012 versus November 2011 with the median sales price up 14%.  In Chevy Chase, the total # of sales was equivalent to the prior year with prices up 15%.   As shown on the chart below, most of the local areas including Potomac and Washington DC had higher prices and sales.    Days on market in all areas including Bethesda, Chevy Chase, Kensington, Potomac, Rockville, Silver Spring and all of Washington DC were down from 21% to 56% while the active # of listings were down 15% to … [Read more...]

Filed Under: Blog, Local Market News, Real Estate News

Hazards of Fallen Trees

Fallen Tree Bethesda Crest

The recent storms throughout Bethesda, Chevy Chase, Potomac and the Washington DC metro area forced us to fret about the hazards of falling trees among many other concerns that now haunt homeowners. My own experience was pretty scary when this huge tree fell in our front yard. This photo shows me in front of the immense root ball!  Had it fallen in the other direction, it would have likely crashed through the roof of our bedroom where we were fast asleep. Fortunately, we were blessed that the winds took it in the other direction. Since the storm, I have received several questions from clients and through my website about the liability of fallen trees and who pays for the cleanup. Does the burden lie with the … [Read more...]

Filed Under: Home Care

5002 Cedar Croft Dr, Bethesda, MD 20814

EXTERIOR

  SOLD!  Amazing Elevator Townhome in Bethesda Crest! Spectacular Albemarle end-unit townhouse w/elevator! This Bethesda Crest townhome has a huge gorgeous gourmet kitchen, large patio off kit/fam room overlooking trees, 3-car garage, mahogany paneled library, fully equipped media room w/8 theater chairs & wet bar, huge master suite w/sitting room & 3 en-suite bedrooms, exercise room & much more! A 5-star MUST SEE property!!! Close-in Bethesda!  Less than 1 mi to 495, NIH, Walter Reed / Navy Med & downtown Bethesda! Bedrooms 4 Baths Full 5 Baths Half 1 Levels 4 Parking 3 Acres .08 Built 2006 Price $1,650,000 … [Read more...]

Filed Under: Featured Listings, Featured Properties

Short Sale Reality Check

Short Sales in DC

  There are very few short sales in the Washington DC and  Bethesda real estate market compared to other parts of the US but they do come along on occasion.  However, in the coming year, the market is expected to see increased short sale listings throughout the country.  In 2011, short sales were in short supply due to the robot-signing legal issues but now the banks have settled with the Federal government so they are finally loosening up their tight grip on the inventory and simplifying the process somewhat in order to encourage buyers and agents to make offers.  Understand, however, that if you are thinking about trying to purchase a short sale assuming you can find one, it is a very different … [Read more...]

Filed Under: Home Financing, Local Market News

The Path to Homeownership

Know your limits

For anyone who is considering the purchase of one of our wonderful homes for sale in Bethesda or anywhere else in the US, and even those  of you who own but have not bought a home recently ... it can be somewhat to very overwhelming trying to understand the entire process. The answers to questions about how to go about owning Bethesda real estate that were once easy to answer are more complex and convoluted these days given the various rate and financing plans, how credit scores affect your interest rates and eligibility, and so on.  Simply asking ... how much can I afford and how much down payment am I going to need results in a wide range of answers. These and other important questions are presented in … [Read more...]

Filed Under: Blog, Home Financing, Local Market News

4613 West Virginia Avenue, Bethesda, MD

4613 WEST VIRGINIA BETHESDA

SOLD! $1,099,000 Custom Colonial in Downtown Bethesda! One block from Wisconsin Ave in heart of Bethesda! Complete renovation & expansion of classic colonial w/white picket fence & large front porch! Gourmet granite kitchen, SS appliances & large island w/wine fridge open to huge family room w/vaulted ceiling. Hardwood on main level w/2 fireplaces & office or bedroom w/full bath. Lush landscaped lot, one-car garage & long driveway. By NIH/Walter Reed....   REQUEST A SHOWING Bedrooms 5 Baths Full 3 Baths Half 1 Levels 3 Parking 1+ Acres .14 Renovated 2005 Price $1,099,000 LISTING DETAILS VIRTUAL TOUR VIDEO … [Read more...]

Filed Under: Featured Listings

It’s a Fact .. the Market IS Recovering

DC-Real-Estate-Market-Statistics

How is the Bethesda real estate market and surrounding areas currently doing?  Just ask some of the leading economists about the current state of the real estate market and where it is heading.  According to the National Association of Realtors (NAR) Existing Sales Report released last week. sales were down 2.6% from the previous month. However, the monthly variations are not what determines where the market is going. In the same report, NAR also explained that sales WERE UP 5.2% over last March’s numbers. When assessing the direction of the markets, the experts consider the key underlying data that truly determines where the market will be heading over the course of the next several months. Here … [Read more...]

Filed Under: Blog, Local Market News

Economy and Real Estate Market Sprouts in Spring

  Investing in the housing market was once practically a no brainer. Through the downturn, however, many of the fixed  assumptions about housing — that property values would  always rise and equity would naturally grow — became variable, leaving many consumers questioning the extent to which the real estate market was a good investment option for them, or if now was the time to purchase that new home they have always wanted. It also opened the door to years of negative housing headlines in the media, some of which continue today.The reality, however, is that the indicators we examine to determine the health of the housing market are gaining  momentum. The employment picture is improving, … [Read more...]

Filed Under: Featured Properties

Local Spring Market Springs Back

Bethesda real estate market trends

The Bethesda real estate market is in full swing this Spring and homes are selling fast and furious in many areas.    More and more experts are weighing in with positive projections about the national real estate market for 2012.   Our local area continues to outpace the nation and median prices are starting to climb in certain neighborhoods.   Historic interest rates are attracting buyers as consumer confidence rises.   Read what some of the national experts have to say ... Jamie Dimon, JPMorgan Chase CEO “I believe we’re very close to the inflection point. People look at prices that are still coming down but all the other signs are flashing green… You could come up with a pretty bullish case … [Read more...]

Filed Under: Blog, Local Market News

Low Interest Rates Drive Affordability

Interest Rate Projections

March 24, 2012 - When considering a possible sale or purchase of Bethesda real estate, or anywhere for that matter ... one of the most critical factors of course is the amount of interest that will be charged on the loan.  You may have noticed in some recent headlines that mortgage rates may be embarking on their slow but steady climb upward that economists have been predicting for some time.   First, understand we should not necessarily be afraid of an uptick in rates. This will not cause the housing market to come to a grinding halt. In fact, upward-moving interest rates are indicative of a recovering economy and housing market—facts that we can see not only in interest rates, but in other economic … [Read more...]

Filed Under: Blog, LO, Local Market News

5005 Cedar Croft Dr, Bethesda, MD 20814

5005_Cedar_Croft_Dr Web

  SOLD!  $1,299,000...  Spectacular Townhome in Bethesda! The ultimate in comfort, convenience and luxury!  Huge, gorgeous Bethesda Crest elevator townhome offers convenience & luxury! This home has 4 bedrooms (could use lower level den as 5th bedroom), 4 full baths plus one half bath, a gourmet granite kitchen w/ Subzero & Viking oven, attached family room with gas fireplace, 10' ceilings with exquisite moldings, 2-car main level garage, huge dining room, enormous master and sitting room, expansive recreation room level with billiard room & den!   Seller will install a beautiful cherry-panelled ELEVATOR for +$40,000. Less than 1 mi to 495, NIH, Walter Reed / Navy Med & downtown … [Read more...]

Filed Under: Featured Listings, LO

SOLD! 9118 Redwood Ave, Bethesda

Screen Shot 2012-03-05 at 1.04.06 PM

  SOLD!  Spectacular 'Oasis' with Beautiful Transitional Home! This property located at 9118 Redwood Avenue in Bethesda is a spectacular oasis set on a private 1.14 acre property featuring a beautiful transitional home that underwent a complete renovation in 2005, a large pool, separate pool house and a fabulous standalone screen porch. Striking & unique, this home is highlighted by light-filled spaces & custom built-ins.The 1st floor boasts formal living and dining rooms, gourmet kitchen w/island, family room & private guest suite.The 2nd flr has 4 BRs & 3 BA. The LL features a media rm,gym,wine cellar, 2nd family room.   Extremely rare! Bedrooms 5 Baths … [Read more...]

Filed Under: Featured Listings, LO

7840 Oracle Place Video Tour … [Read more...]

Filed Under: Featured Properties

SOLD! 7840 Oracle Place, Potomac

Oracle Place Kitchen

SOLD!  $687,500 ... Gorgeous Renovated End-Unit Townhome in Stone Crest! This beautiful brick end-unit townhome in Potomac boasts hardwood floors, 9’ & vaulted ceilings, chair and crown moldings and palladian windows.   The extensive $100,000 renovation includes a gourmet granite kitchen with stainless steel appliances and new backsplash, refinished hardwood floors, beautiful light fixtures, new wall to wall carpet plus fresh paint throughout.  A total high-end renovation of the master bath suite includes silestone counters, beautiful cabinetry, ceramic tile, Kohler fixtures and a Toto toilet.  New mechanicals include a gas heating system, new high efficiency ultra quiet AC, new 85 gallon hot water … [Read more...]

Filed Under: Featured Listings, LO

Somerset House Condos

Somerset House Condo Chevy Chase

The Somerset House condominium in Chevy Chase MD is the epitome of luxury condo living personified by elegance and convenience.   The Somerset House condos are located on the Maryland side of Chevy Chase and consist of three buildings situated on 17 acres of manicured parkland.  This magnificent community was designed for resort-like living with many luxurious amenities from gated 24-hour security, gracious doormen and complimentary valet parking for the convenience of residents and their guests, indoor and outdoor heated pools, a spa, tennis courts, exercise and state of the art gym facility along with a billiard and movie viewing room!  There are also many planned activities and wonderful spaces for … [Read more...]

Filed Under: Condominiums | Bethesda MD Condos | Chevy Chase MD Condos for Sale | Lynda O’Dea

Lionsgate Condo, Bethesda

Lionsgate Bethesda Condo

The Lionsgate Condos in downtown Bethesda are nothing less than spectacular!   One might momentarily get lost in the ambience of its award-winning architecture and believe you are on Park Avenue.   Lionsgate is undoubtedly the most majestic new condo in Bethesda MD, towering over a  courtyard of sculpted lions amidst the excitement of Bethesda's restaurant, theater and entertainment scene.  Inside, residents bask in a luxury lifestyle with attentive concierge service, a glistening lobby and fitness center, and high-tech security features. A uniformed doorman welcomes visitors as residents and guests gather to sip cocktails on the Lionsgate Condo's magnificent rooftop terrace.   The condo features large … [Read more...]

Filed Under: Condominiums | Bethesda MD Condos | Chevy Chase MD Condos for Sale | Lynda O’Dea

Bethesda Housing Affordability Trends

Housing Payment to Income Ratio

Bethesda, MD - Is Residential Housing Ready to Awaken? This article presents many layers and perspectives on the impending rebound of housing with many variables weighing on the recovery nationally and locally ... from the employment outlook to next year's election outcome, possible cuts in Federal and defense budgets, stable vs rising interest rates and how the banks manage the release of pent-up distressed properties. We are fortunate that the Bethesda real estate market is among the most stable housing markets in the country. See my monthly Bethesda Market Trends reports which are the most detailed market statistics available by zip code and town: Bethesda and Chevy Chase real estate plus Potomac, … [Read more...]

Filed Under: LO, Local Market News
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