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Gaithersburg, MD Real Estate News

Wells/Robertson House Seeking New Board Members   Friends of Wells/Robertson House, Inc. is a non-profit organization dedicated to the reduction of chronic addiction and homelessness in the Gaithersburg, Maryland community. They are currently seeking new board members. They are hoping to attract board members with expertise in finance, accounting, social media and communications. If you are willing to assist as a board member, please contact Jim Savitz at 301-590-9300 or email jesavitz@VillageSettlements.com.      Chrysanthemum, Brookside Gardens IMG_7891 Photograph by Roy Kelley using a Canon PowerShot G11 camera Roy and Dolores Kelley Photographs
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Book Recommendation:  Winter of the World by Ken Follett   The book that I am currently reading is Winter of the World (2012) by Ken Follett. This is Book Two of The Century Trilogy.  As I recommend this book, I also have to recommend that you first read Book One of the Century Trilogy, Fall of Giants (2010). These books should be available at your local library. In these books, five linked families live out their destinies as the world is shaken by tyranny and war. The books provide a historical perspective with the use of very interesting characters. See Ken Follett’s website for more information. http://ken-follett.com/bibliography/ This is a list of books by Ken Follett:  Apples Carstairs series (as Simon Myles) The Big Needle (1974) (apa The Big Apple – U.S.) The Big Black (1974) T...
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New FHA Short Sale Guidelines Effective October 1, 2013   Lending Rules Update:  Effective October 1, 2013, FHA will not approve short sales where the buyer and seller are working with the same brokerage firm. HUD refers to short sales as Pre-foreclosure Sales (PFS). Real estate professionals need to be alert for changes in the guidelines.  Any PFS must be an arm’s length transaction between the mortgagor (the borrower) and the “would-be” purchaser in order to obtain approval be the mortgagee (the lender). The following are the updated participation requirements “HUD defines an “arm’s length” transaction as a PFS between two unrelated parties that is characterized by a selling price and other conditions that would prevail in an open market environment. Also, no hidden terms or special u...
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Meals on Wheels needs volunteer drivers in Gaithersburg   If you can spare a little time each week or two, Meals on Wheels can use your assistance as a volunteer driver in the Gaithersburg area. Volunteers deliver hot lunches to seniors. The lunches as well as cold suppers are prepared at Asbury Methodist Village in Gaithersburg at 333 Russell Avenue. Volunteer drivers pick up the meals between 10:45 and 11:30 a.m. Monday through Friday. There are usually about 12 clients on each route and delivery takes about an hour. Meals on Wheels volunteer drivers are asked to make deliveries once every week or every other week. Training is provided. Please call Mary Casamento at 301-253-4626 to volunteer.  Seniors will appreciate the deliveries and will be delighted to see you.     Chrysanthemum, ...
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Kentlands Happy Hour, Friday, September 27   The Kentlands Citizens Assembly has announced the date of the September Happy Hour for residents of Kentlands on Friday, September 27, 2013 at the Kentlands Clubhouse, from 5:30 to 7:30 p.m. This is the first community Happy Hour for the fall season. Residents should make their reservation before Thursday, September 26 for this adults only event. Wine, beer, soft drinks and light hors d'oeuvres will be provided. This is a good time to meet with old friends and to make new friends from the neighborhood. Plan to stop by before going out for your Friday night dinner. Call 301-948-2071 to sign up for the event.     Dahlia, Best Bett, Longwood Gardens IMG_7446 Photograph by Roy Kelley using a Canon PowerShot G11 camera.  Roy and Dolores Kelley Pho...
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Is it too late to take advantage of low mortgage interest rates?   If you are still waiting for the lowest level of mortgage interest rates, you timing may be off.  According to The Wall Street Journal, mortgage interest rates reached a 16 year low in 2011. Rates jumped to a five year high last year. Regardless of the recent history of mortgage interest rates, those that need to refinance their mortgage or those that are ready to purchase a new home may still have a once in a lifetime opportunity to take advantage of the current low rates. All of the projections anticipate higher interest rates in future months. If you have waited, now is the time to take action. If you need a name of a recommended mortgage loan officer, talk with your real estate agent. We are always willing to suggest...
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Pre-approval for financing is the first step for a home purchase   “When you are buying a home it is important that you are prepared to buy and you have received PRE-APPROVAL. This will tell you how much loan for which you qualify and the amount of your monthly payments including taxes and insurance.” Barbara Hensley, Rockwall, Texas real estate professional Home buyers that need to use mortgage financing should ask their buyer agent for the name of a recommended mortgage loan officer. Getting pre-approved for the needed financing is a mandatory requirement before a home purchase. Home buyers need to be well prepared for the current market conditions and should be fully aware of the best mortgage products for their personal needs and the cost of the selected product. Home sellers and th...
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Carpet allowances are not a good way to go   “I always suggest that my sellers REPLACE the carpet when listing their home if it is in bad condition.  The home shows so much better and the seller is likely to receive higher offers and get their home sold much quicker.  Simply pick a neutral color and get it done.”  - Belinda Spillman, Aurora, Colorado real estate professional Many of us have known home sellers that generously offered to provide a carpet allowance for home buyers. This sounds good but is not the best strategy for effective home marketing. It is always a good idea to show homes that look their best. When allowances are being considered, home sellers and their agents should check with a mortgage lender for details on the underwriting requirements relating to allowances.    ...
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By Roy Kelley
(Retired)
Seeking balance in our lives   “Life moves by SWIFTLY. It is not meant for you to be looking at a glowing screen all the time. Think about that!” – Gary Woltal Flower Mound, Texas real estate professional Gary Woltal constantly reminds us that we should seek balance in our lives. Too many real estate professionals focus their entire lives on business activities and end up missing the better options in life. Gary recommends that we spend less time on documenting our lives and more time on living our lives. One of the activities that helps me maintain balance is photography. Those that follow my blogs know that I enjoy photographing flowers. This interest demands quality time in our home neighborhood or in our travels to visit beautiful gardens. It is easy to set aside the problems of the...
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Enjoy the colors of the season with your camera in hand   As we approach the beginning of the autumn season, we miss the flowers and the colors of nature that were so common during the summer. Capture the colors of the season with your camera in hand. The lilies in this photograph were blooming in June in Kentlands, our home neighborhood in Gaithersburg, Maryland. When you do not have a good blog topic in mind, post some flower pictures that everybody will enjoy.     Lilies, Kentlands IMG_6175 Roy and Dolores Kelley Photographs
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Searching for a retirement home, Bethany Beach, Delaware   Dolores and I are searching for the perfect retirement home. During this process, I have become much more aware of the elusive search process that is faced by seniors as they seek a more suitable retirement residence for their retirement years. For us, the search is more difficult because our present home in Kentlands is in a wonderful location. It is difficult to match the convenience and the quality of life in Gaithersburg, Maryland. This week, we visited the Delaware beach area which is about a three hour drive from our present home. Delaware attracts many retirees because of the very low real estate taxes and the benefit of no sales tax for daily purchases. We revisited one of the communities that we like, Bay Forest, in Oce...
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Ice Cream Social for Real Estate Industry, Gaithersburg, MD   Real estate professionals and mortgage loan officers know that the third Wednesday of each month from May through September is the standing date to visit with Victor Muzzatti at Confidence Title & Escrow’s Free Ice Cream Social.  The next Ice Cream Social will be on Wednesday, September 18, 2013 from 2 to 4 p.m. at Bruster’s Ice Cream in Gaithersburg. The ice cream at Bruster’s is excellent and this is a good opportunity to discover a new favorite flavor. Dolores and I enjoy this event and the chance to meet with local representatives of the real estate industry. Bruster’s is located at 18519 N. Frederick Road, Gaithersburg, Maryland. Thanks to the sponsor: Confidence Title & Escrow 600 Jefferson Plaza, Suite 204 Rockville, M...
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Maryland Health Connection Targeting 800,000 Uninsured Residents   All of us are aware of the 2010 Affordable Health Care Act, called Obamacare, but many do not understand the details of the programs.  The initial open enrollment runs from October 1 through March 31 an most Americans are required to have health insurance by January 1, 2014. In Maryland, the insurance marketplace is called the Maryland Health Connection. About 800,000 Maryland residents are uninsured. About 222,000 of them live in Montgomery County and Prince George’s counties. According to a report in The Washington Post, about four dozen medical plans, sold by six carriers, will be available in Maryland. Maryland is now training several thousand workers to help with outreach and enrollment. People that need help can go...
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Summer Flowers, Longwood Gardens, Kennett Square, PA   Longwood Gardens, in Kennett Square, Pennsylvania, is one of the favorite day trip destinations for residents of Montgomery County, Maryland. One of the benefits of living in Gaithersburg is that we are within day trip distance of many very interesting places. Dolores and I are annual members of Longwood Gardens and we frequently visit. What is now Longwood Gardens was originally purchased from William Penn in 1700 by George Peirce. In 1798, the Peirce family began to plant an arboretum and by 1850, they had one of the largest tree collections in the country.  It was named Peirce’s Park and was open to the public. Pierre S. du Pont purchased the property in 1906 and it became his private estate that he opened to the public on schedu...
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By Roy Kelley
(Retired)
Library Trashes 250,000 Books   Those of us that love to read find it difficult to understand the decision to trash 20,000 books each month rather the selling or giving them to organizations that could put them to good use. This is what was done by the Fairfax County Library in northern Virginia. Dumpsters were loaded with 250,000 books to make more space available on library shelves. Maybe this can only happen in one of the wealthiest counties in the country. The Board of Trustees for the library had police officers standing by in body armor as area residents came to express their dissatisfaction with the library management.  They got the message and postponed plans to revamp the library system. In addition to trashing books while refusing to donate them, they planned to cut library st...
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Montgomery County, MD Real Estate Market Statistics, August, 2013   Currently, there are 2,314 active listings of homes for sale in Montgomery County, Maryland. 69 (2.98%) are lender owned foreclosures (REO). 179 (7.74%) of the available properties are short sale pre-foreclosures. Short sale transactions require the approval of the secured mortgage lenders since the proceeds from a sale will not fully satisfy the outstanding mortgage debt. Now, let’s compare the current inventory with the August, 2013, real estate market statistics for Montgomery County, MD. During August, the total sold dollar volume of residential properties was $572,479,555, up 29.86% from the same month last year. There were 1,108 closed sales, up 18.63%, at a median sold price of $417,500, up 11.41%. The average so...
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By Roy Kelley
(Retired)
Bump and Run Carjackers   Police are warning drivers to be alert for “bump and run” carjackers. This has become a serial tactic for carjacking in Washington, DC. The carjackers rear-end the targeted vehicle. When the driver gets out of the vehicle to check for damage and exchange information, one of the carjackers hops into the vehicle and drives away. In these situations, the driver of the rear-ended vehicle typically leaves the keys in the car and sometimes the engine is still running. If your car is rear-ended, be aware of the situation. Always turn off the engine and take the keys if you get out of the vehicle. Police are recommending that you do not get out of the vehicle after being rear-ended. Lock the doors and call 911. A dahlia in our Kentlands home garden...     Dahlia, Kentl...
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By Yvette Chisholm, Associate Broker - Rockville, MD 301-758-9500
(Long & Foster Real Estate, Inc.)
      This chart displays the latest data from MRIS (Metropoliant Regional Information System) for the Gaithersburg, Maryland 20877 zip code in Montgomery County, Maryland.  The slower Summer season is not the only reason pricing is meting resistence in the market, but the 25% + increase in interest rates is impacting affordability and people are making choices that don't stretch their budgets.
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Free Rabies Clinic for Gaithersburg Cats and Dogs, Sunday, Sept. 15th   The City of Gaithersburg will be participating in a Free Rabies Clinic for cats and dogs this Sunday, September 15, 2013, from 10 a.m. to noon at the Montgomery County Animal Shelter. There is no fee for the rabies vaccinations but a City license is required and may be purchased at the clinic. The Rabies Clinic is staffed by licensed veterinarians and experienced handlers. All pets must be leashed or in carriers. City of Gaithersburg residents are reminded that a City license and a rabies vaccination is required by law for each domestic pet. The Montgomery County Animal Shelter is located at: 14645 Rothgeb Drive Rockville, MD 20850240-773-5946www.mchumane.org     Dahlia, Kentlands  IMG_9370 Photograph by Roy Kelley ...
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Metropolitan Ballet Theatre to move to Gaithersburg After 25 years at its Rockville, Maryland location, Metropolitan Ballet Theatre has announced plans to move to a larger facility in Gaithersburg. The nonprofit dance organization will move this spring to the new studio location at 220 Perry Parkway near the fairgrounds. The new 7,700 square foot facility will better serve the needs of 300 students. The organization puts on two major productions each year.  Currently, “Nutcracker” auditions are underway. A $15,700 grant from the City of Gaithersburg is assisting the move. Dahlia in our Kentlands home garden...     Dahlia, Kentlands  IMG_9372 Photograph by Roy Kelley using a Canon PowerShot G11 Camera.  Roy and Dolores Kelley Photographs
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