This week we take a look at a Cape Cod style home with four bedrooms and four bathrooms in over 2,700 feet of living space located just across the DC border in Bethesda, Maryland.
This house has a fireplace in the large living room plus a dining room that opens into a kitchen with stainless steel appliances. The house was built in 1951 and renovated in 2006. It recently dropped in price.
Assuming a homebuyer puts down 20 percent on a conventional loan, her cash to close number will be approximately $212,329.64. The monthly payments would then be around $4,535.03 per month. For a complete picture of the cash to close, or for a run-down of the seller's side of the deal, plug the numbers into the Web version of Close It™ or download the free iOS app.
Here's a look at what's happening in real estate around the District of Columbia.
Online listings breathe new life into open houses
The popularity of online home search sites over the past few years is positively impacting the effectiveness of open houses. With homes now listed online, buyers can learn everything about a house before they even step foot in it. — Washington Post
How to effortlessly use online reviews to grow your real estate business
Whether you’re new to the online review game, already have a few reviews or are dominating your niche with online testimonials, here are some tips to help you build your review portfolio and generate leads from the work you've already done. — Inman News
What Google searches reveal about the housing market
A Google survey showed 18–34-year-olds were twice as likely as 35–54-year-olds to say they were planning to buy a home in the next year, and real estate web usage by millennials grew by 30 percent between May 2013 and July 2014, according to ComScore. — DC Urban Turf
Gentrification on The Waterfront
Will the luxury mega-development on the Southwest waterfront unmoor the low-key way of life on DC's houseboats? These photos offer a look inside one of the largest "live-aboard" communities on the Eastern seaboard, just as the cranes rise. — Washingtonian
Eight Victorian pads for sale in DC
DC's got a slew of late 19th-to-early-20th-century properties on the market, so we've rounded up some of these turreted, bow-fronted gems. Too bad their asking prices aren't what they would've been 100 years ago. — Curbed DC
This week we head over to the Village of Martin's Additions in Chevy Chase, MD to run the numbers on a charming stone front colonial house with 4 bedrooms and 2.5 bathrooms.
This house is located on a quiet street within walking distance of the Brookville Market and the Friendship Heights metro stop. The house has a fireplace and 9-foot ceilings as well as a renovated kitchen and comes with a homeowner's warranty.
Assuming a homebuyer puts down 20 percent on a conventional loan, her cash to close number will be approximately $211,912.43. The monthly payments would then be around $4,588.20 per month. For a complete picture of the cash to close, or for a run-down of the seller's side of the deal, plug the numbers into the Web version of Close It™ or download the free iOS app.
After losing their homes in the foreclosure crisis, boomerang buyers are back
Boomerang buyers who lost a home to a foreclosure or short sale between 2007 and 2013 are projected to make about 10 percent of all U.S. home purchases in 2014. — Washington Post
Average profit for a DC Metro house flipper is $136,135
Flips made up 10.2 percent of all sales in DC proper in the second quarter, more than twice the national average for the quarter. Gross profits nationwide were $46,000; in DC proper they were much higher, at $222,106. — DC Urban Turf
DC tops list for first-time buyers
In DC, 68 percent of homebuyers were first-timers in 2013, while Maryland also ranked high for first-time homebuyers at 63 percent. In Virginia, the report showed that first-time buyers only made up 57 percent of those taking out home loans. — WJLA
Days to close a loan drops to new low
The average number of days to close a loan has dropped to 37 in July, compared to 41 days in June, the the lowest average since tracking began. — Realtor Magazine
Is the District affordable? Yes, relatively speaking, says new research
A new study that examines housing costs and transportation costs reveals DC is second to only San Fransisco as the most affordable city in the country. — Washington Post
All you tech-savvy real estate agents out there who wish to further distinguish yourselves online will be able to register a .realtor domain name by Halloween, says the National Association of Realtors.
If this is something that interests you, make sure to jump on the band wagon early since NAR is offering a year's worth of free hosting to the first 500,000 people who register. And if you have an existing profile at Realtor.com, you'll be able to transition it into a stand-alone site with your name on it.
The .realtor domain name, in the works since 2012, is NAR's latest attempt to close the gap between the number of buyers who find their real estate agent online (about 9 percent) and the number of buyers who search for homes online (about 89 percent). They've tried other approaches in the past that didn't pan out so well.
NAR initially applied for the .realtor domain name to help its Realtors® stand out from other real estate professionals and to help consumers distinguish between websites operated by industry professionals from sites maintained by third parties, according to an earlier report from Inman News.