Silver Spring, MD Real Estate News

By Barbara Michaluk, Leisure World Specialist / Full Service REALTOR
(Weichert Realtors | Silver Spring, MD Phone Direct 240-506-2434)
Will Surging Unemployment Crush Leisure World of Maryland Home Sales? Ten million Americans lost their jobs over the last two weeks. The next announced unemployment rate on May 8th is expected to be in the double digits. Because the health crisis brought the economy to a screeching halt, many are feeling a personal financial crisis. James Bullard, President of the Federal Reserve Bank of St. Louis, explained that the government is trying to find ways to assist those who have lost their jobs and the companies which were forced to close (think: your neighborhood restaurant). In a recent interview he said: “This is a planned, organized partial shutdown of the U.S. economy in the second quarter. The overall goal is to keep everyone, households and businesses, whole.”  That’s promising, but ...
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By Barbara Michaluk, Leisure World Specialist / Full Service REALTOR
(Weichert Realtors | Silver Spring, MD Phone Direct 240-506-2434)
Leisure World of MD Looking to the Future: What the Experts Are Saying As our lives, our businesses, and the world we live in change day by day, we’re all left wondering how long this will last. How long will we feel the effects of the coronavirus? How deep will the impact go? The human toll may forever change families, but the economic impact will rebound with a cycle of downturn followed by economic expansion like we’ve seen play out in the U.S. economy many times over. Here’s a look at what leading experts and current research indicate about the economic impact we’ll likely see as a result of the coronavirus. It starts with a forecast of U.S. Gross Domestic Product (GDP). According to Investopedia: “Gross Domestic Product (GDP) is the total monetary or market value of all the finishe...
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By Barbara Michaluk, Leisure World Specialist / Full Service REALTOR
(Weichert Realtors | Silver Spring, MD Phone Direct 240-506-2434)
Stock Market Correction Probably Won’t Impact Leisure World Home Value With the housing crash of 2006-2008 still visible in the rear-view mirror, many are concerned the current correction in the stock market is a sign that home values are also about to tumble. What’s taking place today, however, is nothing like what happened the last time. The S&P 500 did fall by over fifty percent from October 2007 to March 2009, and home values did depreciate in 2007, 2008, and 2009 – but that was because that economic slowdown was mainly caused by a collapsing real estate market and a meltdown in the mortgage market. This time, the stock market correction is being caused by an outside event (the coronavirus) with no connection to the housing industry. Many experts are saying the current situation is ...
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By Barbara Michaluk, Leisure World Specialist / Full Service REALTOR
(Weichert Realtors | Silver Spring, MD Phone Direct 240-506-2434)
Leisure World Housing Inventory Vanishing: What Is the Impact on You? The real estate market is expected to do very well this year as mortgage rates remain at historic lows. One challenge to the housing industry is the lack of homes available for sale. Last week, move.com released a report showing that 2020 is beginning with the lowest available housing inventory in two years. The report explains: “Last month saw the largest year-over-year decline of housing inventory in almost three years with a dramatic 12 percent decline, pushing the number of homes for sale in the U.S. to the lowest level since January 2018.” The report also revealed that the decline in inventory stretches across all price points, as shown in the following graph:George Ratiu, Senior Economist at realtor.com, explain...
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By Andrea Bedard, Fluent in German and Real Estate * M.A. ABR ASP
(Thompson Company, REALTORS® 240.593.2860)
I would love to tell you all about our Coming Soon listings in Silver Spring, MD and beyond, while our wonderful sellers are getting their homes perfect for the market. But, I can't just yet, my hands are virtually tied.You see, we now have a new(ish) MLS rule (in effect since Nov. 2019) that is enforceable and tied to hefty fines if we are found in violation. It requires that we (REALTOR® members of the BrightMLS) enter our listings into the system within one day of advertising them publicly. That includes, but is not limited to, flyers, For Sale signs, postcards, social media announcements, and, yep, blog posts. At its core, it is a beneficial policy designed to promote and protect the best interest of our clients. But in practice, it is also twisting my arms to not tell you all about...
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By Barbara Michaluk, Leisure World Specialist / Full Service REALTOR
(Weichert Realtors | Silver Spring, MD Phone Direct 240-506-2434)
Leisure World of Maryland Homeownership Matters Now More Than Ever Study after study shows that no matter what generation Americans belong to, the vast majority believe that homeownership is an important part of their American Dream. The benefits of homeownership can be broken into two main categories: financial and non-financial (often referred to as emotional or social reasons.) For Americans approaching retirement age, one of the greatest benefits to homeownership is the added net worth they have been able to achieve simply by paying their mortgage! The Joint Center for Housing Studies at Harvard University focused on homeowners and renters over the age of 65. Their study revealed that the difference in net worth between homeowners and renters at this age group was actually 47.5 time...
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By Barbara Michaluk, Leisure World Specialist / Full Service REALTOR
(Weichert Realtors | Silver Spring, MD Phone Direct 240-506-2434)
Great Price on this 2 BR Leisure World MD Condo in Vantage E #5143200 N Leisure World Blvd #514 Condo for Salein Leisure World MD 55+ Active Adult Community – Lovely condo with 2 bedrooms and 2 bathrooms 1,035 sq. ft. Located in the desirable Vantage East Building. Living room features 9’ ceilings and a slider to a glass-enclosed sunroom with a lovely view. Separate dining area has space to entertain friends and family. The table-space kitchen has lots of cabinets, a large pass-through window and ceramic flooring. Master bedroom includes a walk-in closet with shelving plus an additional closet. Master bathroom with a large vanity and step-in shower. Washer/dryer is located in a laundry closet. New carpet in 2nd bedroom. Second bathroom with tub/shower. The Leisure World community includ...
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By Barbara Michaluk, Leisure World Specialist / Full Service REALTOR
(Weichert Realtors | Silver Spring, MD Phone Direct 240-506-2434)
How Your Tax Refund Can Move You Toward Leisure World Homeownership  If you’re looking to buy a home in 2020, have you thought about putting your tax refund toward a down payment? Homeownership may be one step closer than you think if you spend your dollars wisely this year. Based on data released by the Internal Revenue Service (IRS), Americans can expect an estimated average refund of $2,962 when filing their taxes this year. The map below shows the average tax refund Americans received last year by state:According to programs from the Federal Housing Authority, Freddie Mac, and Fannie Mae, many first-time buyers can purchase a home with as little as 3% down. Truth be told, a 20% down payment is not always required to buy a home, even though that’s a common misconception about homebuy...
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By Andrea Bedard, Fluent in German and Real Estate * M.A. ABR ASP
(Thompson Company, REALTORS® 240.593.2860)
I just switched service providers and transferred my cell phone number to a new carrier. It was on my radar for quite some time for 2 reasons: 1. customer service (I don't do rude)2. fees. What is it with all the extra fees (I'm looking at you Verizon!)? I much prefer to have one amount, and to know exactly what to expect each and every month. That's not what I was dealing with for the last few years however.. it was one "base" amount plus service fees plus regulatory fees plus account fees plus what-not fees. Sure, some of them amounted to just a few cents. And sure, I got a handy reference each month telling me what to expect the next and how my bill could possibly change. Still, I prefer one amount without add-ons. Clean. Uncomplicated. Predictable. That's the way I like it. And that...
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By Peggy Yee, Search Vienna Homes For Sale - Northern Virginia
(NoVa House and Home)
This is a snapshot of recent sales in the Arcola neighborhood of Silver Spring, MD. Real estate market data and analysis is provided by Peggy Yee, Realtor. Click here to sign up for my free monthly real estate market update.Highest and Lowest Sold Arcola Home ValuesIn the past 6 months, 3 properties have sold in Arcola ranging from a 3-bed, 2-bath Detached for $436,000 to a 5-bed, 4-bath, and 1-half bath Detached for $675,000.Arcola Neighborhood Real Estate Market ActivityThese market activity gauges show the market trends for the previous month as compared to the 5-year average of the current month. In December 1 homes sold in Arcola. The average sold price was $675,000 and the average days on market was 26 days.  Sell Your Home in 72 Hours for Thousands More Than Traditional Real Esta...
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By Peggy Yee, Search Vienna Homes For Sale - Northern Virginia
(NoVa House and Home)
This is a snapshot of recent sales in the Ballantrae neighborhood of Silver Spring, MD. Real estate market data and analysis is provided by Peggy Yee, Realtor. Click here to sign up for my free monthly real estate market update.Highest and Lowest Sold Ballantrae Home ValuesIn the past 6 months, 8 properties have sold in Ballantrae ranging from a 3-bed, 2-bath Detached for $330,000 to a 4-bed, 3-bath Detached for $479,900.Ballantrae Neighborhood Real Estate Market ActivityThese market activity gauges show the market trends for the previous month as compared to the 5-year average of the current month. In December 2 homes sold in Ballantrae. The average sold price was $469,500 and the average days on market was 19 days.  Sell Your Home in 72 Hours for Thousands More Than Traditional Real E...
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By Peggy Yee, Search Vienna Homes For Sale - Northern Virginia
(NoVa House and Home)
This is a snapshot of recent sales in the Blair neighborhood of Silver Spring, MD. Real estate market data and analysis is provided by Peggy Yee, Realtor. Click here to sign up for my free monthly real estate market update.Highest and Lowest Sold Blair Home ValuesIn the past 6 months, 9 properties have sold in Blair ranging from a 3-bed, 2-bath, and 1-half bath Townhome for $445,000 to a 5-bed, 4-bath Detached for $760,000.Blair Neighborhood Real Estate Market ActivityThese market activity gauges show the market trends for the previous month as compared to the 5-year average of the current month. In December 2 homes sold in Blair. The average sold price was $560,000 and the average days on market was 34 days.  Sell Your Home in 72 Hours for Thousands More Than Traditional Real Estate!We...
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By Peggy Yee, Search Vienna Homes For Sale - Northern Virginia
(NoVa House and Home)
This is a snapshot of recent sales in the Bonifant Woods neighborhood of Silver Spring, MD. Real estate market data and analysis is provided by Peggy Yee, Realtor. Click here to sign up for my free monthly real estate market update.Highest and Lowest Sold Bonifant Woods Home ValuesIn the past 6 months, 3 properties have sold in Bonifant Woods ranging from a 2-bed, 1-bath, and 1-half bath Townhome for $225,000 to a 3-bed, 2-bath, and 1-half bath Townhome for $320,900.Bonifant Woods Neighborhood Real Estate Market ActivityThese market activity gauges show the market trends for the previous month as compared to the 5-year average of the current month. In December 1 homes sold in Bonifant Woods. The average sold price was $254,500 and the average days on market was 25 days.  Sell Your Home ...
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By Peggy Yee, Search Vienna Homes For Sale - Northern Virginia
(NoVa House and Home)
This is a snapshot of recent sales in the Calverton neighborhood of Silver Spring, MD. Real estate market data and analysis is provided by Peggy Yee, Realtor. Click here to sign up for my free monthly real estate market update.Highest and Lowest Sold Calverton Home ValuesIn the past 6 months, 15 properties have sold in Calverton ranging from a 2-bed, 2-bath, and 1-half bath Townhome for $320,000 to a 3-bed, 3-bath Detached for $490,000.Calverton Neighborhood Real Estate Market ActivityThese market activity gauges show the market trends for the previous month as compared to the 5-year average of the current month. In December 3 homes sold in Calverton. The average sold price was $412,333 and the average days on market was 8 days.  Sell Your Home in 72 Hours for Thousands More Than Tradit...
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By Peggy Yee, Search Vienna Homes For Sale - Northern Virginia
(NoVa House and Home)
This is a snapshot of recent sales in the Carroll Knolls neighborhood of Silver Spring, MD. Real estate market data and analysis is provided by Peggy Yee, Realtor. Click here to sign up for my free monthly real estate market update.Highest and Lowest Sold Carroll Knolls Home ValuesIn the past 6 months, 14 properties have sold in Carroll Knolls ranging from a 3-bed, 1-bath, and 1-half bath Detached for $335,000 to a 5-bed, 2-bath, and 1-half bath Detached for $563,000.Carroll Knolls Neighborhood Real Estate Market ActivityThese market activity gauges show the market trends for the previous month as compared to the 5-year average of the current month. In December 3 homes sold in Carroll Knolls. The average sold price was $378,000 and the average days on market was 70 days.  Sell Your Home...
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By Peggy Yee, Search Vienna Homes For Sale - Northern Virginia
(NoVa House and Home)
This is a snapshot of recent sales in the Chestnut Hills neighborhood of Silver Spring, MD. Real estate market data and analysis is provided by Peggy Yee, Realtor. Click here to sign up for my free monthly real estate market update.Highest and Lowest Sold Chestnut Hills Home ValuesIn the past 6 months, 6 properties have sold in Chestnut Hills ranging from a 2-bed, 1-bath Townhome for $290,000 to a 3-bed, 3-bath, and 1-half bath Detached for $460,000.Chestnut Hills Neighborhood Real Estate Market ActivityThese market activity gauges show the market trends for the previous month as compared to the 5-year average of the current month. In December 1 homes sold in Chestnut Hills. The average sold price was $375,000 and the average days on market was 7 days.  Sell Your Home in 72 Hours for Th...
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By Peggy Yee, Search Vienna Homes For Sale - Northern Virginia
(NoVa House and Home)
This is a snapshot of recent sales in the Chestnut Ridge Manor neighborhood of Silver Spring, MD. Real estate market data and analysis is provided by Peggy Yee, Realtor. Click here to sign up for my free monthly real estate market update.Highest and Lowest Sold Chestnut Ridge Manor Home ValuesIn the past 6 months, 6 properties have sold in Chestnut Ridge Manor ranging from a 3-bed, 2-bath Detached for $349,000 to a 4-bed, 2-bath Detached for $489,000.Chestnut Ridge Manor Neighborhood Real Estate Market ActivityThese market activity gauges show the market trends for the previous month as compared to the 5-year average of the current month. In December 1 homes sold in Chestnut Ridge Manor. The average sold price was $385,000 and the average days on market was 27 days.  Sell Your Home in 7...
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By Peggy Yee, Search Vienna Homes For Sale - Northern Virginia
(NoVa House and Home)
This is a snapshot of recent sales in the Colesville Outside neighborhood of Silver Spring, MD. Real estate market data and analysis is provided by Peggy Yee, Realtor. Click here to sign up for my free monthly real estate market update.Highest and Lowest Sold Colesville Outside Home ValuesIn the past 6 months, 10 properties have sold in Colesville Outside ranging from a 3-bed, 2-bath, and 1-half bath Detached for $259,125 to a 4-bed, 5-bath, and 1-half bath Detached for $625,000.Colesville Outside Neighborhood Real Estate Market ActivityThese market activity gauges show the market trends for the previous month as compared to the 5-year average of the current month. In December 3 homes sold in Colesville Outside. The average sold price was $327,333 and the average days on market was 34 d...
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By Peggy Yee, Search Vienna Homes For Sale - Northern Virginia
(NoVa House and Home)
This is a snapshot of recent sales in the Columbia Towers neighborhood of Silver Spring, MD. Real estate market data and analysis is provided by Peggy Yee, Realtor. Click here to sign up for my free monthly real estate market update.Highest and Lowest Sold Columbia Towers Home ValuesIn the past 6 months, 3 properties have sold in Columbia Towers ranging from a 1-bed, 1-bath Condo for $105,000 to a 3-bed, 2-bath Condo for $175,000.Columbia Towers Neighborhood Real Estate Market ActivityThese market activity gauges show the market trends for the previous month as compared to the 5-year average of the current month. In December 1 homes sold in Columbia Towers. The average sold price was $90,000 and the average days on market was 118 days.  Sell Your Home in 72 Hours for Thousands More Than...
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By Peggy Yee, Search Vienna Homes For Sale - Northern Virginia
(NoVa House and Home)
This is a snapshot of recent sales in the Conn Ave Estates neighborhood of Silver Spring, MD. Real estate market data and analysis is provided by Peggy Yee, Realtor. Click here to sign up for my free monthly real estate market update.Highest and Lowest Sold Conn Ave Estates Home ValuesIn the past 6 months, 36 properties have sold in Conn Ave Estates ranging from a 3-bed, 1-bath Townhome for $280,000 to a 4-bed, 2-bath Detached for $419,000.Conn Ave Estates Neighborhood Real Estate Market ActivityThese market activity gauges show the market trends for the previous month as compared to the 5-year average of the current month. In December 9 homes sold in Conn Ave Estates. The average sold price was $353,805 and the average days on market was 18 days.  Sell Your Home in 72 Hours for Thousan...
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