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Happy New Year 2017!

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Happy New Year!

It is with gratitude that we wish our clients, Bethesda neighbors and friends a very Happy 2017 and offer our sincere thanks for your referrals and friendship!

May this new year bring wonderful surprises and much joy, peace and prosperity!

Cheers!

Brian & Amy Maury and the Maury Real Estate Team

 

 

 

Bethesda is the Best in October

Capital Crescent Trail between mile marker 6.0 and 6.5

Capital Crescent Trail between mile marker 6.0 and 6.5

Bethesda is truly a wonderful place to be in the fall and there is no better time than the month of October.  The leaves begin to change color and the air cools off but remains warm enough to sport a light sweater or jacket and a comfy light scarf.  Take a walk on the ever-popular Capital Crescent Trail and perhaps you’ll spot a deer, a fox or an owl hovering in the trees.  Oh, and there’s always pumpkin this-and-that to grab at one of the 180+ area restaurants.  C’mon, you know you want that taste of fall no matter how cliche!

Looking for something to do besides eating and drinking in Bethesda?  For you more adventurous types, check out our concerts, classes, exhibits and events around town at the non-profit Bethesda Urban Partnership or “BUP”.  Established in 1994, the organization creates and promotes a variety of  events and festivals for the community.

Sculptures on Woodmont Ave.

Sculptures on Woodmont Ave.

One of our favorite events is the upcoming Bethesda Row Arts Festival scheduled this year for Saturday, October 15th, 2016 from 11 AM -6 PM and Sunday, October 16th, 2016 from 10 AM – 5 PM.  The event is FREE…. What’s not to love?!

Oh right, you won’t love the parking!  Perhaps try parking just outside of town at the Bethesda Pool and walking into town on the Capital Crescent Trail (about 1/2 mile).  At this time of year, it’s a perfect stroll and you’ll pop right out onto Bethesda Ave in the heart of the festival.  Enjoy!

 

Sold! Charming Colonial with Room to Play!

5810 Augusta Lane, Bethesda located in Glen Mar Park

5810 Augusta Lane, Bethesda located in Glen Mar Park

5810 Augusta Lane, Bethesda, MD 20816

List Price: $819,000 – SOLD!  Call for sale price.

Click Home Tour to see the additional photos and floorplan tour.

Ideally located in Glen Mar Park off Massachusetts Ave, this classic brick colonial features a renovated kitchen with stainless steel appliances, new cabinetry, granite countertops and tile flooring.  Formal living room with wood-burning fireplace & mantle opens to a screened porch with a ceiling fan.  Spacious family room off the kitchen and a convenient bathroom and laundry area on the main floor. Upstairs you will find an en-suite master bedroom plus a hall bath and two additional bedrooms with hardwood floors.  The finished basement includes a recreation room and a fully renovated bathroom.

Back yard with deck and trellis with mature vines.

Back yard with deck and trellis with mature vines.

Main Level-Kitchen-_DSC3123

Fully renovated kitchen!

Main Level-Living Room-_DSC3192

Elegant traditional floorplan

There is room to play in the generous fenced backyard!  The spacious deck is perfect for entertaining with built-in seating and a trellis for shade.  Plenty of room to expand the home on this property, if desired.

The Glen Mar Park community offers a playground just steps from the home and annual parties and events.  Convenient shopping is available nearby including Whole Foods, Starbucks, CVS & Rite Aid, Giant Foods, Safeway, and several restaurants including the popular Praline Bakery and Bistro.

The Capital Crescent Trail is close by.  Enjoy an easy commute to DC with access to the Metro bus to Friendship Heights at Massachusetts Ave or catch the D5 commuter bus direct to DC.

Enjoy some of the finest schools in the nation including Woodacres Elementary, Pyle Middle School and Walt Whitman High School.

Popular Capital Crescent Trail nearby

Popular Capital Crescent Trail nearby

Just steps to the community playground!

Just steps to the community playground!

Please contact Brian and Amy Maury for information on this truly special home.

Listed by: Maury Real Estate, 301-229-3652.

Chase Away the Winter Blues in Bethesda

Lemon Almond Cake at Praline Bakery

Lemon Almond Cake at Praline Bakery

After the epic blizzard, Snowzilla, last weekend many Bethesda residents are experiencing cabin fever!  We found today that a delectable dessert like Lemon Almond Cake at Praline Bakery in Bethesda chased the blues away!

Sick of the melting snow everywhere?  There’s nothing like a sunny slice of heaven melting in your mouth to make your day a little brighter.  We highly recommend a slice…or maybe the whole cake!

 

Praline Bakery is located at 4611 Sangamore Rd, Bethesda, MD 20816 in The Shops at Sumner Place.

2015 Real Estate Year in Review

It was a solid year of price performance for homes in our Bethesda area in 2015. The average price of detached home in Bethesda (zip codes 20814, 20816 and 20817) climbed to $1,117,073, an increase of 2% over 2014. The median price of a detached home was $945,000, an increase of 2.6% over 2014. That may not seem like much but by way of comparison, the S&P 500 index finished a choppy year just under where it started.

Screen Shot 2016-01-04 at 6.10.42 PMIt took a little longer to sell a detached home in Bethesda last year. The average days to secure a contract climbed from 36 days to 40 days.

The big story this past year was the increase in the number of homes sold in our area. There were 813 detached homes sold in Bethesda this past year, an increase of 12% over 2014.  By way of comparison, the high-water mark of detached home sales in Bethesda occurred in 2003 (four years before the financial crisis began) with 1,030 homes being sold that year.

Low interest rates, combined with a steadily growing economy, have helped consumers feel more confident in their jobs and financial future. Lynn Franco, Director of Economic Indicators at The Conference Board, summed it up this way,

“As 2015 draws to a close, consumers’ assessment of the current state of the economy remains positive, particularly their assessment of the job market. Expectations regarding their financial outlook are mixed, but the optimists continue to outweigh the pessimists.”

There has been much hype recently about the Federal Reserve’s hike in the discount rate (the first rate-hike in nearly a decade) and the impact on interest rates. The 0.25% Fed rate hike won’t have an immediate effect on mortgage rates. However, 30-year fixed rate mortgage rates have risen over the past year, from 3.75% at the beginning of the year to 4.0% at the end of December, and will likely go higher.  The Office of the Chief Economist at Freddie Mac recently gave these insights, “We don’t expect tighter monetary policy to generate a spike in longer-term interest rates in the foreseeable future…While mortgage rates will rise modestly, they will remain at historically low levels.”

InterestRateMost economist are predicting that mortgage interest rates will gradually rise into the 4.25% to 4.5% range over the coming year. This is bad news for first-time and trade-up buyers but overall still very attractive and considered “affordable” interest rates. In contrast, interest rates were hovering around 6.5% just before the financial crisis began in 2007.

Looking ahead….
We predict 2016 will be another solid year for real estate in Bethesda with price appreciation expected again to be around 2%. Our area receives a multiplier effect locally as the national economy continues to improve and bring more people to the area for employment. As you can see by the number of cranes hovering over the downtown Bethesda skyline, our area is experiencing significant growth and development. It’s a bittersweet experience as we transition from a small town to a small city.

If you are considering the sale of your home in the future please call us! We’re here to help. We live in Bethesda and are never too busy to answer any question you may have.

~Brian & Amy

Top 3 Impacts to Home Ownership in 2015

The Year 2015 brought with it some important changes for homeowners and would-be home buyers in Montgomery County and nationwide. Here are the top 3 changes this past year:

  1. Federal Reserve Rate Hike

    Fed Implements 0.25% Rate Hike in 2015

    Fed Implements 0.25% Rate Hike in 2015

On December 16th, 2015, the Fed raised interest rates by 0.25% for the first time since June 2006. While mortgage rates will not drastically increase quite yet, you can certainly expect to a see a gradual and continuous rise in mortgage interest rates in the year ahead. If you’re thinking about buying, act sooner rather than later.

In addition, if you have an adjustable rate mortgage (ARM) or home equity line of credit (HELOC), it will likely adjust upward upon your next anniversary date especially if the Fed continues to raise rates incrementally in 2016.  Most economist are predicting that mortgage interest rates will remain at historically low levels but gradually rise into the 4.25% to 4.5% range over the coming year. 

2.  Mandatory Radon Testing Required to Sell Your Home

In November 2015, the County Council approved a new regulation requiring home sellers in Montgomery County to perform radon testing before the sale of any single-family home – the first such regulation in the entire country. There are a few exceptions to this testing rule – estate sales and tear-down properties are among them. The new regulation goes into effect in October 2016.  While there is no requirement for the installation of a remediation system based on testing results, a buyer will be permitted to cancel a home sale contract if the seller should refuse to do so. The cost of installing a radon remediation system is usually around $1,000.

Radon testing required as of Oct. 2016

Radon testing required as of Oct. 2016

There has been a great deal of controversy surrounding this new legislation. While proponents assert that buyers need to be informed about radon and the impacts of this odorless, colorless carcinogenic gas that may be present in homes, opponents challenge that the testing requirement is ridiculous for a number of reasons including flawed test results (home kits can be purchased from stores for around $40 for a 2-day test; however, the World Health Organization and the EPA state that 90-day testing is much more accurate). Opponents have also suggested that buyer educational requirements should suffice versus mandatory testing.

  1. Massive Overhaul in Home Sale Closing Process Nationwide

    Consumer Financial Protection Bureau is now in charge

    Consumer Financial Protection Bureau is now in charge

Thinking of buying or selling a home in 2016? As of October 2015, MASSIVE changes occurred in mortgage lending laws across the country. Thanks to the Dodd-Frank Act of 2010, the Consumer Financial Protection Bureau (CFPB) has taken over the administration of RESPA (Real Estate Settlement Procedures Act) from HUD (Housing and Urban Development). With this new government agency comes sweeping changes including new forms, new rules and new time frames for a typical home sale. These changes are nationwide affecting home sellers, home buyers, settlement attorneys, mortgage lenders and real estate agents alike.

The goal of this reform was to simplify the information provided to buyers and make mortgages more transparent and easier for the consumer to understand. As with most any government agency created to “simplify” things, complaints run rampant that these new changes are more confusing, more time consuming and more expensive for everyone.

If you are planning to buy or sell a home in 2016, expect longer settlement times (45-60 days versus 30 days), new procedures and new forms you have never seen before. Contact Brian and Amy Maury or your mortgage lending professional to discuss these changes in more detail.

SOLD! 5823 Osceola Road in Bethesda, MD

Subdivision: High Point

List Price:  $835,000 (Call for sold price)

5823 Osceola Road, Bethesda, MD 20816

We helped a local family find a home that would be ideal for a large scale renovation/expansion.  We assisted our clients in a competition for the property with another well qualified buyer and helped them prevail in a multiple offer situation.  We further assisted the clients by providing guidance on renovation ideas in terms of floorplan development and general cost estimates.

What can Brian and Amy help you do?

For questions, please contact Brian and Amy Maury.

SOLD! Sumner Court in Bethesda

Newly refinished hardwood floors!

Newly refinished hardwood floors!

Property Tour Link: 5007 Sentinel Dr. #43, Bethesda, MD 20816

Subdivision: Sumner Court

List Price: $305,000 – Call for sale price.

Sold Sept. 2015

This renovated two-bedroom condo is located in one of the most popular areas in Bethesda just off MacArthur Blvd and Sangamore Road and near Massachusetts Ave.  Situated just steps over the DC line and within walking distance to the Capital Crescent Trail, shopping, restaurants, METRO bus (D5) and RideOn Bus, you just can’t beat the location!  Easy commute to DC or Virginia.

The condo offers newly refinished hardwood floors and a renovated kitchen with new wood cabinets, appliances and granite counters. The unit is located on the ground floor corner of the building offering extra light.  It is in a quiet spot in the community away from the road. Conveniently park right outside the door!  Parking is plentiful at Sumner Court.

Patio outside front door at Sumner Court

Patio outside front door at Sumner Court

 

Sumner Court Pool

Sumner Court Pool

The condo fee of $590 per month includes ALL UTILITIES – heating, air conditioning, electricity, water and sewer.  It also covers snow removal in the winter plus management of an abundance of community amenities.  Some of those amenities include an outdoor community swimming pool with lifeguard services, a newly renovated playground, picnic area, bike storage, laundry facilities and storage cages are available too.

The condo offers an excellent investment opportunity or rental alternative.  Turn-key condition!

Listed by Brian and Amy Maury, Maury Real Estate, 301-229-3652.

SOLD! 8811 Ridge Road in Bethesda, MD

Subdivision: Hillmead

List Price:  $889,000 (Call for sold price)

8811 Ridge Road, Bethesda, MD 20817

8811 Ridge Road, Bethesda, MD 20817

We helped a couple who were relocating from California find a great home in the sought after Hillmead neighborhood.  With multiple offers potentially swirling around the house we helped them present an attractive offer to the seller and secure a contract.  After the sale we helped the couple find several contractors to make the home just right for them.

What can Brian and Amy help you do?

For questions, please contact Brian and Amy Maury.

SOLD! 4960 Sentinel Drive, #205 in Bethesda, MD

Subdivision: Sumner Village

List Price:  $518,000 (Call for sold price)

4960 Sentinel Drive, #205, Bethesda, MD 20816

4960 Sentinel Drive, #205, Bethesda, MD 20816

We helped a couple sell their condominium in Sumner Village.  The property featured wooded views Brazilian cherry wood floors and an updated table space kitchen w/designer lighting. Gorgeous master suite w/ walk-in closet w/ELFA shelving & full renovated bath. The hall bath had also been renovated. The popular Sumner Village community features a large swimming pool, sauna, tennis & gym and is near the Crescent Trail & the shops and amenities of Sumner Place Shopping center. 

What can Brian and Amy help you do?

For questions, please contact Brian and Amy Maury.

SOLD! 5000 Battery Lane, #902, in Bethesda

Subdivision: Madison Park Condominium

List Price:  $479,900 (Call for sold price)

5000 Battery Lane, #902, Bethesda, MD 20814

5000 Battery Lane, #902, Bethesda, MD 20814

We helped a couple who live abroad purchase a second home within walking distance of downtown Bethesda.  Of course purchasing a home when you live out to the country can be a little tricky but we helped them coordinate all the details with the title company so the transaction went very smoothly. Voilà!

What can Brian and Amy help you do?

For questions, please contact Brian and Amy Maury.

SOLD! 206 Whitmoor Terrace, Silver Spring

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206 Whitmoor Terrace, Silver Spring, MD Listed by: Maury Real Estate

Property Tour Link:  206 Whitmoor Terrace, Silver Spring, MD

Subdivision: Woodmoor

List Price: $499,000 (Call for Sold Price)

Nestled beneath a canopy of mature trees and overlooking the Northwest Branch Park, this remodeled colonial features a family room addition, extensively updated kitchen, renovated baths, thermal pane windows, new roof and upgraded utilities. It offers three bedrooms upstairs and a guest suite with full bath on the lower level.  The back yard borders park land and is very private, surrounded by trees.  The home is wonderful for outdoor entertaining with a large deck and patios in the fenced yard.

Back Yard Deck and Patio at 206 Whitmoor Terr

Back Yard Deck and Patio at 206 Whitmoor Terr

Located in the highly-coveted Woodmoor community this home is convenient to the nearby Forest Glen Red-Line Metro stop as well as the Four Corners, Woodmoor and Burnt Mills shopping areas. Woodmoor is a great place to live where neighbors really know each other and actively participate in the civic association, annual yard sale, Halloween and Garden parades, book clubs, baby-sitting coop, and community events.

Click here to view the virtual tour and additional photos.

For a personal tour of the home, please contact Brian and Amy Maury

Listed by: Brian and Amy Maury, Maury Real Estate, 301-652-0400

SOLD! 6121 Ramsgate Road in Bethesda, MD

Subdivision: Wood Acres

List Price:  $880,000 (Call for sold price)

6121 Ramsgate Road, Bethesda, MD 20816

6121 Ramsgate Road, Bethesda, MD 20816

We helped a family relocate from out of state to the Bethesda area.  They wanted to be in the Whitman School district and we found just the perfect home for them in the popular Wood Acres community.

What can Brian and Amy help you do?

For questions, please contact Brian and Amy Maury.

SOLD! 11145 Willowbrook Drive in Potomac

11145 Willowbrook Drive, Potomac, MD 20854 - Listed by Maury Real Estate

11145 Willowbrook Drive, Potomac, MD 20854 – Listed by Maury Real Estate

Property Tour Link: 11145 Willowbrook Drive, Potomac, MD 20854

Subdivision: Fox Hills of Potomac

List Price:  $1,100,000 (Call for sold price)

This fantastic home is situated on a quiet cul-de-sac in a popular Potomac community.  Dramatic curved staircase in foyer opens to the formal living and dining room.  Hardwood floors have been installed throughout the main and upper levels.

Gorgeous family room

Gorgeous family room

Spacious family room with beamed ceiling and stone fireplace are just right!  Renovated kitchen and solarium-style breakfast room looks out to the beautiful, private fenced backyard. Entertaining is ideal with french doors to the deck.  The home also offers a main floor home office and renovated powder room.

Upstairs you will find four generously-sized bedrooms and three bathrooms including a master suite with a comfortable attached sitting room and master bath with a soaking jetted tub, separate shower and dual vanities.  Convenient upper level laundry room with front-loading washer and dryer.

The lower level offers a separate covered entrance from the driveway.  The spacious recreation room with extra refrigerator and full bath offers a great space for play, entertainment or for guests.  Large storage room and two-car garage with opener.  This house truly has it all and has been lovingly maintained and updated.  Excellent schools, including Winston Churchill High School.

11145 Willowbrook Drive deck and backyard

11145 Willowbrook Drive deck and backyard

Listed by Maury Real Estate.  Office: 301-229-3652

For questions, please contact Brian and Amy Maury.

SOLD! 5321 Allandale Rd in Bethesda, MD

5321 Allandale Rd, Bethesda  Listed by Maury Real Estate

5321 Allandale Rd, Bethesda
Listed by Maury Real Estate

Property Tour Link: 5321 Allandale Rd, Bethesda, MD 20816

Subdivision: Green Acres

List Price: $949,000 (Call for sold price)

This charming colonial is located in one of the most popular communities in Bethesda – Green Acres.  Green Acres is situated just steps over the DC line and is within walking distance to the Capital Crescent Trail, shopping, restaurants and the METRO bus to Friendship Heights.  The neighborhood is only about 1-mile to the METRO station (red line).

The home is much larger that it appears from the front view, with 4 bedrooms upstairs plus a 5th room ideal as an office or nursery and 2-1/2 baths.  The three-story addition added onto the home included a family room with wood-burning fireplace, breakfast room, powder room, master bedroom with walk-in closet and en suite bath (recently remodeled) and a second upper level bedroom plus a HUGE storage room in the basement.

Screened Porch with fan is ideal for warm summer evenings!

Screened Porch with fan is ideal for warm summer evenings!

The home also offers a screened porch and wrap-around deck, large dining room and a living room/den off the kitchen.  A newly finished recreation room with carpet and recessed lighting offers a great playroom or extra office space.  The Green Acres community has a trail to conveniently access Westbrook Elementary school.

This home is a rare find!

Listed by Brian and Amy Maury, Maury Real Estate, 301-229-3652