Potomac, MD Real Estate News

By Anthony Dashtizadeh, (Dash-T-Za-Day)
(Garcia Realty Group, Luxury Sales Group)
Greetings All!        I am A realtor / real estate agent in Potomac, Maryland. I work with Luxury Sales Group & Fairfax Realty. I am writing all buyers and sellers of property in Potomac, Chevy Chase, Bethesda, Great Falls, Cabin John, Maryland, Etc.        The real estate market has been picking up tremendously lately. As prices are becoming more and more attractive people are slowly starting to jump in. Is this the sign of stability to come? Possibly. Homes, which were on the market for 200+ days are starting to sell. I even see a lot of properties selling in around 3 weeks or so. Now when I speak of Sold this is either Under Contract or Sold. So for the luxury market in general, things are looking up.     If you have any questions regarding the information I am provide, I welcome it....
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By Lenn Harley, Real Estate Broker - Virginia & Maryland
(Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate)
HOMES FOR SALE IN POTOMAC, MARYLAND, WHO CAN RESIST?  Just look at this fabulous Potomac real estate .  When you're ready to tour, contact Homefinders.com for a personal tour of the best homes in Potomac, MD in your price range.   Homefinders.com experinced agents and broker partners will help you with valuation, inspections and all the way to settlement.  The homes shown below are all in the Churchill High School Cluster.  Property Details for listing # MC6799250 Price:  $2,298,500 City:  POTOMAC Bedrooms:  5 Bathrooms:  4 full  1 half Type of Home:  Detached Style:  Colonial Year Built:  2004 Lot Acreage:  2.160009 Subdivision:  ESWORTHY PARK  County:  MONTGOMERY, MD  State, Zip:  MD, 20854  Status:  ACTIVE  Listing Office: WC & AN Miller Realtors, A Long & Foster Company  Property De...
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By Anthony Dashtizadeh, (Dash-T-Za-Day)
(Garcia Realty Group, Luxury Sales Group)
      If you are not an investor buying a home now is and most likely will always be a great investment. Considering you are earning a return on the value of the home not the most spent, like most investments. If you buy a home now with a low interest rate you can capitalize on VERY low payments and at worst lose somewhere around10% equity. Long-term you will be fine, for sure.           Certain areas may go down a lot further in price soon and you will still be able to take advantage of a low rate at near bottom pricing. Like most speculation you usually only want to be partly right. Waiting to the best possible time increases risk tremendous so being a little behind the curve is the Conservative sure bet. Good though.
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By Roy Kelley
(Realty Group Referrals)
The residential real estate conditions in Potomac, Maryland are better than in some of the other areas of Montgomery County.  The average of 74 days a home is on the market is actually lower than last year.  However, the total sold dollar volume is down 48.78% from last year.  The number of units sold is down 30.77% from last year. The average sales price as a percentage of the average list price is now 92.31% and many sellers are findings that buyers are making offers and demanding lower prices.  Move up buyers are doing fine since they are making greal deals on higher priced homes. Retirement sellers that are moving south to lower cost areas are leaving with less equity than they hoped to have for their relocations.   Buyers and sellers should be aware of the new Maryland restrictions...
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A Potomac, Maryland home is advertised for a trustee sale on June 19, 2008 at 8:30 AM by Futrovsky, Nitkin & Scheer, Chartered. The required deposit is $50,000 by Bank Cashier's Check. Trustee sales are held at the courthouse door in Rockville and any qualified bidder may participate in the auctions.   11713 CENTURION WAY, POTOMAC, MD 20854  6 BR/6 BA      PALATINE   Tax Fiscal Year  2008  Estimated property tax and non-tax charges in first full fiscal year of ownership.   TOTAL EST. CHARGES:  $20,736  City Tax:  Tax Year:  2008   State/County Tax:  $13,694  Refuse:  Base Tax Rate:  0.74   Special Tax:  $5,559 Homestd/Exempt Status:    Exempt Class:  000   Front Foot Fee:  $1,284 Tax Class:  53   Mult Class:   In the current market, most of the homes that are sold at trustee sales are p...
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By Anthony Dashtizadeh, (Dash-T-Za-Day)
(Garcia Realty Group, Luxury Sales Group)
With home prices edging down and in some areas going up slightly, Now is the time to buy. This is why. The Federal Reserve has signaled, that with inflation on the rise, that they will start to raise interest rates. what does that mean to you?   Based on a 30 year 20 percent down mortgage if you buy a home now and pay $500,000 with a 5.5 percent mortgage rate thats  $2838.95   Now if rates go up to 7.5 percent, which is stilla historically low rate and the home price falls 10 percent your payments would be $3146.47   If you are not selling the home soon, which do you prefer? Call me if you have any question, I welcome them. Anthony Dashtizadeh 240.353.3163
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By Anthony Dashtizadeh, (Dash-T-Za-Day)
(Garcia Realty Group, Luxury Sales Group)
With the rise in oil, up 11...11 bucks on friday and inflation in general; we will have tough times ahead of us. I think real estate is slowly stepping away from the spotlight and other issues are popping up as priorities. Inflation is really hurting most Americans and due to this the Fed has hinted to us that their concerns will be to fight inflation rather than rescue the housing slump, hence get ready for higher interest rates. The bottom may not be as close as we think! For Consumers their will be a balancing act. Do you choose to buy while interest rates or low OR do you wait a bit for the prices to go down slighty and pay higher interest rates. If you are in it for thelong term it will pay off to by now with lower interest rate. You will save more in the long run.
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By Anthony Dashtizadeh, (Dash-T-Za-Day)
(Garcia Realty Group, Luxury Sales Group)
With the rise in oil, up 11...11 bucks on friday and inflation, in general; we will have tough times ahead of us. I think real estate is slowly stepping away from the spotlight and other issues are popping up as priorities. Inflation is really hurting most Americans and due to this the Fed has hinted to us that their concerns will be to fight inflation rather than rescue the housing slump, hence get ready for higher interest rates. The bottom may not be as close as we think! FOr Consumers their will be a balancing act. Do you choose to buy while interest rates or low OR do you wait a bit for the prices to go down slighty and pay higher interest rates. If you are in it for thelong term it will pay off to by now with lower interest rate. You will save more in the long run.
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By Colleen Barlow
(W.C. & A.N. Miller Realtors, a Long & Foster Co.)
The average home sale price in Potomac, MD's 20854 zip code in April of 2008 was $1,346,380.  That's up 33.17% from April of 2007.  With 47 homes sold in April of 2008, compared to 44 homes which were sold in April of 2007; this statistic doesn't exactly mean that everyone in Potomac can jump for joy, thinking that their home increased in value 33.17% since last year.  However, this is certainly a positive sign that our local real estate market is coming around.  The chart below shows that latest statistics available from our regional MLS system (MRIS).  Average days on market are down from 122 days in 2007 to 81 days in 2008.  That's a huge relief for Sellers.  Imagine trying to live your life and keep your home in "showcase condition" for 3 to 4 months straight!  Not an easy thing to ...
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By Roy Kelley
(Realty Group Referrals)
Investor Alert This home is advertised by Harvey West Auctioneers for a trustee sale on May 30, 2009 at 10:35 am.  Always check for cancellations before attending a trustee sale. 10901 LAMPLIGHTER LN, POTOMAC, MD 20854 Residential       In the current market, most of the homes that are sold at trustee sales are purchased by the mortgage lenders. Contact us if you wish to receive information on lender owned homes in Montgomery County.
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By Roy Kelley
(Realty Group Referrals)
The Potomac, Maryland 20854 residential market is much stronger than the Upcounty market. The average days on the market before a sale is 81.  The average sales price as a percentage of the average list price is 90.78%.  The average sales price is up 33.17% from last year to $1,346,380.  The large number of lender owned homes in the county has not impacted the Potomac area as badly as it has lower cost areas.     Metropolitan Regional Information Systems, Inc.   ZIP Code Statistics - $5M Format ZIP Code: 20854 Potomac, MD Roy Kelley, Associate Broker, RE/MAX Realty Group, roykelley@mris.com  From: 04/01/2008 to 04/30/2008                Statistics generated on: 05/07/2008   ResidentialUnit SalesNumber of Bedrooms Active Listings   Time on Market Price Class 2 Or Less   3 4 or More   Con...
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By Lenn Harley, Real Estate Broker - Virginia & Maryland
(Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate)
AVENEL, A POTOMAC LUXURY COMMUNITY WITH BEAUTIFUL HOMES, MATICULOUS LANDSCAPING AND GOLF. THE AVENEL STORY                      MAP OF POTOMAC MARYLAND Potomac, Maryland real estate is the most popular location for luxury homes, luxury communities and luxury home buyers in the state. One of the more popular communities for luxury home buyers is AVENEL. Avenel homes are quality built by some of the most prominent luxury home builders in Maryland. Several builders of luxury homes have their personal residence in Avenel. Prices are from the $1,000,000 range for golf course town homes to approx. $4,800,000 for the spectacular luxury single family in Avenel.       COMMUNITY AMENITIES AT AVENEL  Avenel was developed beginning in 1988 and has been improving since. Amenities include a country c...
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By BJ Matson
(The Choice Group)
There are currently no foreclosures listed in Potomac, Maryland area code 20854.  You won't find any condos listed in Potomac either...  but there are currently 33 Potomac townhomes listed on the MRIS and 194 single family detached Potomac houses for sale.  Believe it or not, the lowest priced detached home currently listed is for $550,000... MC6709423 Potomac is in Montgomery County, Maryland where the new FHA loan limit went up to $729,750.  With FHA you can get into a home with a 3% investment.  There's also a great program that will get you in with NO down payment, NO closing costs, and NO money needed at settlement.  The interest rate is currently in the low 6's, and is a fixed rate.  Check out more on this better than 100% financing loan program. Potomac's latest big development i...
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By Lenn Harley, Real Estate Broker - Virginia & Maryland
(Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate)
POTOMAC MARYLAND real estate is the luxury community for Maryland located in Montgomery County.  Proximity to Washington, D.C. is one of the attractions, together with beautiful luxury communities, top ranked public schools and close-by luxury shopping.  As of April, 2008, Potomac is not a viable location in which to search for foreclosures.  However, there are about 3 short sale opportunities.  Contact Lenn to see, 800-711-7988.CityListPrice TypeLot Acres    BRBathsAll    Fpl# GarPotomac$550,000  Detached0.22430 Potomac$665,000  Detached0.2413401Potomac$724,999  Detached0.2245512                       Public Schools in Potomac are amount the highest ranked in the state:The high schools that serve students in Potomac Maryland are Winston Churchill, Wootton and some students attend Walte...
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By Colleen Barlow
(W.C. & A.N. Miller Realtors, a Long & Foster Co.)
As of today, April 3rd, 2008, we have a total of 230 homes for sale in Potomac, MD.  12 homes sold in Potomac in the last 7 days; and we have 75 homes "Under Contract" at this point in time. As of the end of February 2008, homes are selling, on average, for 90.48% of their list price.  Compared to February 2007 when the average sales price in 20854 was $1,064,028; we've seen an increase in the average sales price which was $1,229,832 in February of 2008.  That's a 15.58% increase in the average home price in Potomac over the last year.  These are real numbers.  I realize that the media keeps touting doom and gloom, but the statistics seem to indicate that Potomac is not a declining market, as much of the country is.  For that, I'm grateful.On the downside, however, in February of 2007 4...
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By Colleen Barlow
(W.C. & A.N. Miller Realtors, a Long & Foster Co.)
The Federal Housing Authority (FHA), Fannie Mae (FNMA) and Freddie Mac (Federal Home Loan Mortgage Corporation - FHLMC) have set a new loan limit for Montgomery County, Maryland of $729,750. This came about as part of the Economic Stimulus Package of 2008.So what does this mean to you?  If you're looking to buy a home and you want a loan for $729,750 or less to purchase that home; you're going to get a better deal than you would have up until now.  Lenders offer "conforming" and "non-conforming" loans.  Conforming loans are easier to sell in the Secondary Mortgage Market than non-conforming loans.  That's why conforming loans offer lower interest rates than non-conforming loans.  Also, if you're looking to refinance your current conforming mortgage (maybe you've got an ARM that's about ...
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By Colleen Barlow
(W.C. & A.N. Miller Realtors, a Long & Foster Co.)
It's amazing how many people (i.e. potential buyers) are out looking at homes now (2/11/2008).  This past weekend, I went to show one of my new listings at 802 Twin Oaks Drive in Potomac to a couple who called me from an internet ad.  When I got to the home, there were 2 agents in the home already with their groups of buyers.  My couple came, and then another agent came with his buyers.  It was like a party -- there were 16 people there seeing the home at the same time.  When I tried to leave, more people came.  The home for sale next door was open (it was Sunday).  People naturally tried my home next door to see if they could see that, too, since they were there.  My clients did not want me to hold their home open to the public, but since there were so many people already coming throug...
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By Colleen Barlow
(W.C. & A.N. Miller Realtors, a Long & Foster Co.)
Per the MRIS MLS (our regional MLS system), the average sales price of homes in Potomac, Maryland increased 3.49% from December 2006 to December 2007.  The media certainly is not focusing on this positive aspect of our local real estate scene.  With interest rates so low, it's truly a great time to buy a new home; but it's this is also good news for Sellers.
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By Lenn Harley, Real Estate Broker - Virginia & Maryland
(Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate)
MARKET UPDATE:  FHA HAS RAISED THE LOAN LIMIT TO #729,750.  While conventional loans are becoming more difficult, FHA LOANS with 5% down may help.  Think about it and call me for a tour of homes in Potomac Maryland.  The 20854 Zip Code.   Three homes in Potomac are offered for "Short Sale".  They are priced in the $550,000 to $729,000 price range and all in FHA range.  LUXURY HOMES IN POTOMAC MARYLAND - THE PREMIER LUXURY HOME COMMUNITY IN MARYLAND.                                             Lovely homes on beautiful natural lots are typical of Avenel, a luxury home community in Potomac, Maryland.  Luxury is only the beginning of THE AVENEL STORY.                                     Located in the town of luxury communities of Potomac,Avenel is the only community in the area with ameni...
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