Open House on Sunday - One Bedroom NoMa/Mt. Vernon Rental

66 New York Ave, NW #206
Offered at $1,495/month

Main Entrance

Spacious 1-bed/1-bath with huge eat-in kitchen, open floor plan, wood floors, CAC, & 9 southern-facing windows in the heart of the city. Just a 5 min walk to NoMa Metro and only 5-15 min walk to everywhere - Union Market, Convention Cntr, Mt. Vernon Sq, Union Station, Harris Teeter, Safeway. You won't find a better deal in NW...and did we mention it comes w/ parking access!! Open House Sunday 1-3PM!

As you enter this quiet condo, you’ll be greeted with a welcoming foyer that has enough space (12’ x 10’) to set-up that home office you’ve always wanted. Head into the spacious living room and you’ll find 8’+ ceilings, a wall of windows with southern exposure, and hardwood floors that provide that “home sweet home” touch.  

Living Room

Like to cook or entertain?  You can do both in this roomy apartment, as you’ll find one of the largest kitchen/dining rooms (22’ x 14’) in town, as well as the openness you will need to still chat with your guests in the living room. You’ll also have plenty of fresh sunlight, as the kitchen/dining room has three large windows with southeastern exposure.  When it’s time to clean-up, just toss those dishes into the dishwasher and take a short 15 minute stroll to Union Market for a sweet treat at Dolcezza Gelato.

Dining Room

When it’s time to wake up and get the day started, you’ll have plenty of options when it comes to commuting.  The community has a gated parking lot, with parking on a first come, first served basis. There’s plenty of space for your bike or scooter, with a recently expanded bike rack on the secured property grounds.

Secure Parking Available for Residents

If you’re walking to the Metro, it’s 5 minutes to the Red Line (NoMa-Gallaudet U) and just 10 minutes to the Yellow and Green Lines (Mt. Vernon Square – Convention Center). The Metrobus is even closer, with the P6 Line just a block away to take you downtown.  Union Station is a 15-minute walk and a five minute Uber, so the Megabus/BoltBus trip to New York City is a breeze.    

Metro is 5 Minute Walk

With the convenience and space needed to live comfortably in the city, make 66 New York Avenue, NW #206 your next home.

 

Ever heard of TRID?

...or maybe you've heard about the Consumer Protection Financial Bureau's (CFPB) "Know Before You Owe" campaign.  I wrote about mortgage docs being simplified a few months ago, and as expected, things have changed. The rulemaking is a good thing overall, but as with all regulatory changes, there may be a few kinks to work out during the implementation period.  

History

Back in the day borrowers had no idea how much cash they would have to bring to settlement? Folks were really walking into the room to sign their final loan docs, and not knowing whether they'd receive a $1500 check or have to write a $10,000 check...pretty ridiculous. Then we had the financial crisis, thus the passage of Wall Street Reform in 2010, which created this new government consumer watchdog called the CFPB. The CFPB is implementing the "Know Before You Owe"  or TILA-RESPA Integrated Disclosures Rule (TRID), which will soon give borrowers three days to review their final loan docs before going to settlement.  This will take away the uncertainty of the past. The CFPB also revamped the forms you'll receive, so loan information will be simple and easy to understand. 

Unfortunately, this change kind of caught the lending industry by surprise, and the logistical changes for many lenders will take some time to perfect. The good news is that the CFPB is now allowing a grace period for lenders to work out the kinks, particularly since they had originally planned to fine lenders for violations (even minor clerical errors) from day one of implementation.

What does this mean to me?

Some lenders have been preparing for these changes for years, and some lenders are just now implementing the changes. Therefore, if you're going to purchase or sell a home after October 3, 2015, your settlement dates may bump from 30 days to 45 days. Therefore, working with a lender who is prepared for TRID can make the difference between getting your dream home or losing it because the seller needs to be out of the place in 30 days. Be sure to work with the right lender, and an agent who can help you ask the right questions during the lending process.   

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Georgetown

Ever wonder how much one of those charming Georgetown rowhomes are worth?  We've all seen the neighborhood's pristine blocks encompassed with history and character. After listing a 2-bedroom, 1-bathroom rowhome in Georgetown a few months back, I thought I'd take a look at What's it cost to live in Georgetown?

Below is a summary of the market analysis of sold rowhomes and single-family homes to date (condos and co-ops were excluded) 

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1333 28th St., NW
Washington, DC 20007

The Breakdown

Criteria

• Homes in Georgetown (condos and co-ops excluded) 
• Sold between January 1, 2015 and July 2015

The Numbers

• 63 total homes have been sold since January 2015, ranging from $550k to $5.7 million
• The average home sold for about $1.8 million
• The median home sold for about 1.625 million

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Stachowski's at 28th and P St.

What's it cost?

• 2 Bed / 1+ Bath - $550k to $2.195 million, with the average going for about $985k
• 3 Bed / 2+ Bath - $900k to $3 million, with the average going for about $1.5 million
• 4 Bed / 2+ Bath - $950k to $3.25 million, with the average going for about $2 million
• 5+ Bed / 3+ Bath - $1.25 million to $5.7 million, with the average going for about $3.2 million

Georgetown Average Home Sales

What does this mean to me?

Buyers: If you're thinking about purchasing a home in Georgetown, the average pad sold for about $1.8 million.  They also sat on the market 90 days on average, but the median home sold in 11 days, so many of the homes are being swept up quickly. As you're thinking about purchasing your next home, begin working with an agent early in the process, not just when you find the home you want on the internet. Being proactive in a competitive real estate market is critical to getting your next home.

Sellers:  In 2015, only 63 homes sold in Georgetown, and like many areas throughout the District, demand is high and supply is low. However, it's impossible to determine if and when this trend will end. If you're thinking about selling your home, take a few moments to answer a few questions about your place to receive a personalized analysis of your home.

Open House Saturday & Sunday - Rockville Cape Cod

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304 Reading Avenue
Rockville, MD 20850 

Open House Saturday & Sunday from 1-3pm

This charming Cape Cod seems modest, but a significant addition nearly doubled the size of the original house! Thanks to that clever renovation, the home offers all the space modern living demands, and yet is appropriately scaled for the neighborhood. 

Open House Saturday (6/11) and Sunday (6/12) from 1-3 pm at 304 Reading Avenue, Rockville, MD 20850. Additional info can be found here and here.

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Sun-filled living room w/ wood-burning fireplace

As you enter the home through its sun-filled living room, you're greeted by a charming wood-burning fireplace. The first floor boasts oak hard wood floors and a freshly painted interior throughout.

Venture down a hallway and you'll find a modern, open floor plan. A center island kitchen features gas cooking, natural wood cabinets and pendant lighting. The eating area conveniently doubles as both a kitchen table and informal dining area. 

Huge screened porch is an outside room!

An over-sized screened porch off the kitchen and family room is a gem! With ample space for grand entertaining, it can serve as both an outdoor dining room and family room. With two ceiling fans, carpeting and bead-board ceiling you'll want to spend all your time outside during the warmer months, safely screened away from the bugs.

Upper level is your fourth bedroom

Three bedrooms on the main floor feature oak hardwood floors, ample closets and lovely views. Rounding out the first floor are two bathrooms; one of which features a soaking tub, the other a separate shower and marble flooring. Upstairs the fourth bedroom touts newly installed carpeting and features ample space for a play area or office.

Large rear yard with driveway

Located on a quiet side-street it's hard to believe that it's just seven blocks to the Red Line Metro Rockville Stop and a MARC Station. Best of all it's just a short walk to the much heralded Rockville Town Square, where you'll find a multiplex movie theater, numerous restaurants, an eclectic array of shops, an organic market, the 100,000 square foot flagship Montgomery County Public Library and the VisArts center (offering educational art classes, galleries, camps, event spaces, meeting rental spaces and community events). 

Open House Saturday (6/11) and Sunday (6/12) from 1-3 pm at 304 Reading Avenue, Rockville, MD 20850. Additional info can be found here and here.

Snakes in a Home...Let's Talk Disclosures

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A Maryland couple purchased a home in Annapolis from a neighbor, but as it turns out, the home was infested with snakes...coming out of the walls, from under appliances, and even on their kids' backyard playground. Pretty scary, and definitely a deal-breaker for most buyers.

So who in their right mind would buy a snake-infested home?

Unfortunately, this can happen to anybody, particularly if you're negotiating with a seller who fails to disclose material facts about the property. Here, it's pretty obvious that the seller was aware of the little snake problem, as previous tenants had complained about the same issue...and his mother lived in the place before it was sold! While the buyers are suing the seller for $2 million (the case is ongoing as of blog posting), things would have been much easier for this couple had they never purchased the home.

So how can I protect myself as a buyer?

It's highly recommended that a home inspection be performed before purchasing a home. However, all home inspectors are not created equal, so be sure to hire an experienced inspector with a solid reputation. Your agent should be able to assist you with finding a quality home inspector, but be aware of any "referral fee" your agent might be receiving for sending the inspector a new client. It's worthwhile to hire an agent who has no affiliations to vendors/contractors, as you'll avoid any conflicts of interest. 

So what does this mean to me?

Buyers: Be sure to work with a quality home inspector, and check for references. In this case, a competent inspector might have recognized the signs of a snake-infested home, thus giving the buyer fair warning before purchasing. 

Sellers: Disclose. Disclose. Disclose. When it comes to selling your home, the last thing you want is a lawsuit headed your way from buyers who felt shafted. If you know your home has an issue that would make a buyer reconsider whether to purchase it, make it known. It'll pay off in the long-run.