Archive for the 'Homebuyer' Category
Homebuyers Tax Credit Extended and Expanded!
November 19th, 2009 Categories: Home Sellers, Homebuyer, silver spring real estate
The U.S. government recently extended and expanded the homebuyer tax credit. The $8,000 first-time homebuyer tax credit that was scheduled to expire December 1, 2009, will continue in effect until April 30, 2010.
In addition, beginning December 1, 2009, many current homeowners will qualify for a $6,500 tax credit if they’ve lived in their current home for a least 5 years and are seeking to relocate. Plus, the income limits for single buyers and married couples were also raised.
There has never been a better time for you or someone you know to take advantage of this tax credit because hundreds of homes are now priced below market value. Also, because this program is a tax credit – it does not have to be repaid.
For a detailed comparison of the 2009 tax credit versus the extension, click here.
For FAQ on the tax credit changes, click here.
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The Silver Spring Real Estate Market’s Crystal Ball
June 17th, 2009 Categories: Home Sellers, Homebuyer, Silver Spring Neighborhoods, Takoma Park Real Estate, silver spring real estate
The Real Estate Market in Silver Spring and Takoma Park continues to pick up momentum. The question is, have we hit bottom and are we heading out of this or is this just a short upswing before the bottom really falls out?
I wish I had a Crystal Ball but . . . . . “Those that live by the Crystal Ball eat glass”!
My suggestion right now would be that if you are wanting to buy, jump in now. You can’t go wrong. If you are selling or need to sell, sell now and price your home to move fast. If this is a short upswing then you don’t want to miss your chance to sell now during an upswing. How long of a window might we have? This is another question that is begging for a Crystal Ball. I would guess that we might see a better market for at least the next 60 days. The problem longer term could be interest rate increases or the increase in inventory of foreclosed homes. Either of these could have a negative impact. My suggestion is NOT to watch national trends, but focus mostly on what you see taking place in our community. This will certainly give you the best perspective on our market.
To get your own “Real Time” Market Trend Statistics for any zip code or property type in Silver Spring and or Takoma Park Check out: www.SilverSpringStats.com
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South Silver Spring – Cool, Hip, Urban and Green
March 30th, 2009 Categories: Homebuyer, Silver Spring Condos, Silver Spring Neighborhoods, silver spring real estate
South Silver Spring is triangular shaped and is bounded by Newell Street and Blair Mill Road on the northwest, the B&O Railroad right-of-way on the east and the District of Columbia line on the southwest. The South Silver Spring area is a part of the Silver Spring Central Business District (CBD). It is a combination of small scale commercial buildings and a scattering of high rise office buildings. After years of decay, South Silver Spring is being transformed into an exciting mixed use neighborhood with high tech businesses, arts oriented enterprises, new restaurants and over 1,000 new housing units. The new housing is the result of several large, adaptive re-use projects and several new residential development.
South Silver Spring is the Ultimate Walkable Neighborhood - You can live practically car-free!
Run errands in no time, including a Giant, CVS, dry cleaners. Shop Organic at nearby Whole Foods Market and a weekly Farmer’s Market (May to October). Explore more than 100 restaurants, from fine dining to cheap eats – including highly rated favorites Ray’s the Classics, Jackie’s Restaurant, and Ceviche. Take in a movie at the American Film Institute’s Silver Theatre and cultural center.
Bike and hike on the Capital Crescent Trail, the Metropolitan Branch Trail, and the Silver Spring Green Trail. Work out at Gold’s Gym, Washington Sports Club, LA Fitness, or Curves.
Condominums in South Silver Spring are prized for there accessibility to Metro and their lower price tag as compared to DC.
Check out real estate market reports for condominiums in South Silver Spring:
The Aurora 8045 at Silver Spring Metro
The Silverton The Mica
Search all Condos for Sale in Silver Spring zip code 20910
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Silver Spring Real Estate – $8000 Homebuyer Tax Credit
February 19th, 2009 Categories: Homebuyer, silver spring real estate
If you are a first time home buyer or have not owned a residence in the past 3 years, now would be a good time to consider buying your first home and there is no better place to buy it than Silver Spring or Takoma Park, Md
- Prices have never been lower in Silver Spring and Takoma Park.
- The interest rates are low hanging around 5%
- You get to deduct the $8000.00 to purchase your new home.
Here is a quick guide to how you can apply the tax credit and how it compares to the $7500.00 credit in 2008.
Search for Silver Spring and Takoma Park Real Estate (no registration required – so search to your heart’s content!)
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South Silver Spring – The Silverton Real Estate Market Report
July 14th, 2008 Categories: Home Sellers, Homebuyer, Silver Spring Condos, Silver Spring Neighborhoods, silver spring real estate
The Silverton Condos (by JBG Group) on East West Highway was built around the vintage art deco facade of the former Canada Dry bottling plant and has 210 dwelling units.
The units were finished in 2006 – 2007
The Silverton has Beautifully Appointed Floor Plans, Glass Doors Leading to Private Balconies, Chef-Caliber Kitchens with Maple Cabinets and Granite Countertops, Granite Vanities in Bathrooms and Full-Size Washers and Dryers in the units!
There is a High-Tech Resident E-Lounge, Swimming Pool, Expansive Sundeck and a Cutting-Edge Fitness Center.
The Building is within Walking Distance to Metro and has Easy Access to Washington, DC & I-495 Close to Excellent Shopping, Fine Dining & Entertainment.
This market report encompasses All Sales Activity at the Silverton
Last 6 months ( Jan – July 2008)
3 Active (For Sale) Listings
1) 2 Bedroom 2 Bath – 3rd Floor Unit (1,307 sq ft)
Asking Price – $499,900 Days on Market – 117
2) 2 Bedroom 2 Bath – 2nd Floor Corner Unit
(1,084 sq ft) Asking Price – $395,000
Days on Market – 62
3) 1 Bedroom 1 Bath – 2nd Floor Unit (718 sq ft)
Asking Price – $290,000 Days on Market – 232
1 Listing Under Contract
1) 1 Bedroom 1 Bath – 1st Floor Unit (792 sq ft)
Asking Price – $290,000 Days on Market – 65
3 Sold Listings
1) 1 Bedroom 2 Bath Special Unit (955 sq ft)
Asking Price – $324,900 Sold Price – $324,900
Days on Market - 25
2) 1 Bedroom 2 Bath Special Unit (955 sq ft)
Asking Price – $324,900 Sold price - $324,900
Days on Market – 25
3) 1 Bedroom 1 Bath 2nd Floor Unit (776 sq ft)
Asking Price – $295,000 Sold Price – $290,000
Seller Subsidy $7,700 – Days on Market – 58
Thinking about Selling or Buying a South Silver Spring Condominium? -
Contact Debbie Cook (301) 587-3528 for your current, No Obligation Market Report on the Silver Spring Condominium Market.
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South Silver Spring – Newell Street Condos Market Report
July 11th, 2008 Categories: Home Sellers, Homebuyer, New Construction, Silver Spring Condos, Silver Spring Neighborhoods, silver spring real estate
8045 Newell Street (by Patriot Group) is a five story, 120 unit condominium building. This building was completed and already Sold out in 2006.
This Building offers a Fun, Funky, Hip and Laid Back Urban Lifestyle, in a Small Intimate “Pet Friendly” Building. Located by Historic Acorn Park in the South Silver Spring neighborhood, the Units have Open Floor Plans with High Ceilings, Washers and Dryers in the Units and either a balcony or sunroom.
SAVE your GAS! and Walk everywhere from this building that has a very high Walkabilty Score. Walking Distance to Silver Spring Metro/Red Line, Rock Creek Park hiking biking trails and all the ammenities of Downtown Silver Spring.
This market report is for the last 6 month period begining January 1, through July 6th 2008. All units are resales reported in the Metropolitan Regional Information Service (MRIS)
4 Active For Sale Listings
1) 1 Bedroom 1 Bath 2nd Floor
(820 sq ft) Asking -$285,000
Days on Market – 57
2) 1 Bedroom – 1 Bath 5th Floor
(820 sq ft) Asking – $315,000
Days on Market – 267
3) 1 Bedroom 1 Bath 2nd Floor
(900 sq ft)
Asking $347,500
Days on Market - 6
1 Listing Under Contract
1) 2 Bedroom – 2 Bath 3rd Floor (1,255 Sq ft) – Asking $410,000 Days on Market – 7
4 Sold Listings
1) 0 Bedroom 1 Bath Efficiency Unit 2nd Floor Unit (569 sq ft)
Asking Price – $108,746 Sold Price - $108,746 Seller Subsidy -$3,469
Days on Market – 5
2) 0 Bedroom 1 Bath Efficiency Unit (569 sq ft) 4th Floor
Asking Price – $109,658 Sold Price – $109,658 Seller Subsidy $3,498
Days on Market – 3
3) 1 Bedroom - 1 Bath 5th Floor (820 sq ft)
Asking Price – $285,000 Sold Price – $285,000 Days on Market – 21
4) 1 Bedroom – 1 Bath and Den (935 sq ft) 3rd Floor Unit
Asking – $320,000 Sold – $320,00 Seller Subsidy – $10,000 Days on Market – 85
Thinking about Selling or Buying a Silver Spring Condominium? – Contact Debbie Cook (301) 587-3528 for your current, No Obligation Market Report on the Silver Spring Condominium Market.
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More Silver Spring, Md Real Estate Market Reports – Seven Oaks Subdivision and South Silver Spring Condos
November 7th, 2007 Categories: Home Sellers, Homebuyer, Silver Spring Condos, Silver Spring Neighborhoods
New Real Estate Market Activity Reports
Single Family Homes
Seven Oaks Subdivision – 20910 & 20901
Condominiums in South Silver Spring – 20910
Aurora Condominiums
The Silverton
Luxury Town Houses Cameron Hill – 20910
If you are thinking about Selling Your Silver Spring House, Condo or Townhouse - Call on Debbie Cook and The Silver Spring Team for a No Obligation Market Report on Your Silver Spring Condominium. With our 21 years of Experience and our Enthusiasm for Silver Spring, we know how to get Silver Spring Homes Sold Fast and for Top Dollar in the Current Silver Spring Real Estate Market.
Click for an Over the Net Comparative Market Analysis (CMA) of your Silver Spring Home
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Silver Spring, New Construction, Estates at 4 Corners Finally Gets Going – Old House Razed Recently
July 31st, 2007 Categories: Homebuyer, New Construction, Silver Spring Neighborhoods, silver spring real estate
The Site
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Unrepresented Buyer and For Sale By Owner -The Ongoing Nightmare that’s too Close to Home!
July 17th, 2007 Categories: Home Sellers, Homebuyer, silver spring real estate
This real estate horror story popped up recently and is continuing to occur in Norfork, Virginia.
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What’s Up with Home Features for 2007?
December 18th, 2006 Categories: Homebuyer, silver spring real estate
December is when publications like to forecast upcoming trends for the new year. Mark Nash, author of a number of books on real estate, has come up with some good ones, based on a survey of more than 900 industry professionals.
Here’s some of the features homeowners should be looking to put in their dwellings in 2007: Upscale garages. “It’s no longer the out-of-sight-out-of-mind dumping ground. Today’s garage owners want them decked out with cabinet and storage systems, mini-refrigerators, insulation, heating and air conditioning and durable but residential-looking flooring.
” Man caves and Mom caves.”Personal dedicated space for one person in a household where they can go and work on projects or chill without being disturbed.”Two home offices. “Rising gas prices and commuting times have created more two-work-at-home families. Size matters, make sure each is at least ten-by- ten feet.” Rejuvenation rooms. “A one-stop space for exercising, meditation, yoga, sauna and fancy steam showers. Showers are going upscale too. Waterfall fixtures, programmable temperature.” Heated patios, walkways and driveways. “Northern baby-boomers are tired of shoveling and are looking for ways to decrease winter maintenance, plus many have discovered how also heating the patio can add an extra couple of weeks enjoyment in spring and fall.”
Snoring rooms. “Adjacent, second bedrooms to the master, offer relief from the buzz saw and an alternative to the couch. A godsend for millions of relationships nationwide.” Modular Housing. “Many think of the out-dated double wide as the typical modular, but modular options and quality have exploded from the top end 11,000 square foot home, with every whistle and bell, complex finishing details.” Sustainable Design. “Energy conservation, indoor air quality, and resource conservation. Natural forms of energy, such as wind, solar, and geo-thermal if available on-site, are maximized.”
Structured wiring. “Right up there with all the buzz about green homes is structured wiring, now entering the main stream must-have for technology based home buyers. Coaxial TV cable (RG-6), Category 5E voice and data lines, distributed radio, remote camera security are wired through out a home into multi-outlet boxes called in the trade, home network centers.” Mixing finishes on kitchen base and wall cabinets. “Matchy-matchy is out in kitchen design. The new look is to have stained-wood bases and painted wood upper cabinets. The old-Europe-look rules, but with today’s appliances.”
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