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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

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

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

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

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

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

Bethesda Market Update

Market Stats

Real estate will always be inherently LOCAL.  It's a fact that there can be a seller's market in one community and a buyer's market in a different nearby community!  One of the challenges of trying to analyze any market is to have access to the most RELEVANT and the most CURRENT data available.  When you read articles about the real estate market these days - most of it is about national averages and trends that have little to do with our market in the Bethesda area.  And when you do read about local market data, most of it is based on information that is 90 days old or more.  In order to provide my clients with the most relevant information, I have invested in real-time stats that analyze current real … [Read more...]

Filed Under: LO, Local Market News

Time to Buy Real Estate?

ROI Real Estate Web

Locally, we are coming off the most active August in 4 years (read article) where home sales finished with the highest number of signed contracts in four years.   Buyers are getting less reticent about getting back into the market.   A fascinating set of statistics was just released showing that an investment in real estate in 2000 returned 41.3% while dramatically outperforming the Dow, S&P and NASDAQ according to Case Shiller & MSN Money.  Investing in real estate for the long-term is becoming even more compelling especially with the historically low interest rates. … [Read more...]

Filed Under: LO, Local Market News

Mortgage Rate History

30 Year Fixed Rate Mortgages Yearly Avg History WEB

I have lived in Bethesda my entire life and cannot recall a crazier mix of extreme heat to a hurricane and earthquake then this past summer!  But I DO recall when I took out my first mortgage in the early ‘80’s and had a 16% interest rate!  While the Fed has assured us that the rate they offer banks will not go up for 2 years, that does not fully protect consumers from rising rates.  Look at this 30-year rate history ... this is why you should at least consider buying or selling in the near future. … [Read more...]

Filed Under: LO, Local Market News

Dining Room Decor

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Dining room decor can vary greatly from home to home ranging from both extremes of very traditional to ultra contemporary.   Factors that establish the overall design of a dining room include the formality of the space and how many people need to be accommodated. Many homes feature a casual eating spot or breakfast nook located near the kitchen along with a more formal dining room for entertaining family and friends. Making the Most of Dining Rooms When considering various dining room ideas, it's important to think about the size of the room compared to the size of the dining room furniture. Dining room tables and dining room chairs must be the right scale for the size of the floorplan or else no one … [Read more...]

Filed Under: Home Design Trends

Luxury Kitchen Design

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Here are some expert suggestions for in case you are thinking about building or remodeling a state-of-the-art luxury kitchen. 1. Style of Cabinetry. You will need to understand the difference between a cabinet with an overlay door versus a framed cabinet with an inset door. A framed cabinet with an inset door is considered to be the higher-end option while cabinetry with overlay doors are the more common type seen on the market today.  It is a little bit difficult to visualize, but essentially a framed cabinet with an inset door is  a cabinet box with a stationary frame mounted to the front of this box.  The cabinet door then sits inside (flush) the frame.  Traditional English cabinetry was bench made in … [Read more...]

Filed Under: Home Design Trends

Backyard Patio Spas

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When it comes to ideas for patio amenities, spas rank high in bringing pleasure to outdoor living, whether enjoyed as a private spot for relaxing or a gathering place for social events. Though often included as an integral component of a swimming pool design, a spa can also work well as a stand-alone feature that functions beautifully in a small space. In fact, part of a spa's attraction is its ability to tuck into a little corner off the master bedroom or to fit into a narrow side patio alongside the family room. Regardless of its location, though, any spa should have convenient access to the house with some kind of visual screening from the street and close neighbors. Architectural drama sets this … [Read more...]

Filed Under: Home Design Trends

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