McLean Gardens is lovely - I showed property there just last week and my client was looking at 1 bedrooms - mostly priced in the $300-$400K range. Prices go up for additional bedrooms.... Vaughn Place (at the edge of McLean Gardens) has a concierge, elevator, pool and workout room and is also a terrific spot - especially if the buyer would rather not deal with stairs. Many of the units at McLean Gardens have 2 levels. Most units are going for close to asking price in that area... I'd be happy to show you current listed/sold data for whatever size unit interests you...... more
Give Jon Okun a call. He is a loan officer with Prosperity Mortgage, a joint venture of Long & Foster Real Estate and Wells Fargo -- I understand you had a deplorable experience with WF, but Jon provides exceptional service, explains all options and the process, and really stays on top of things to make sure there are no surprises. I used him for my own refi and have referred him to many clients who have been exceedingly pleased with his services.
office - 202-243-2931... more
Correct. Understand the legal difference between a condo and a coop. In a condo, you OWN your own unit. There will be some common area space that all unit owners pay for--the lobby, etc. And there's the roof over the entire building. Maybe elevators. Utilities in the common area (though you'll almost certainly pay your own utilities). But you'll still pay property tax on your own unit (and often, if it's a separate piece of property, a parking space).
In a coop, a corporation owns the entire building. You, as an owner in the coop, own shares in the building that give you the right to live in a designated unit. But the corporation is the building's owner. And you're responsible for your share of the payments to the corporation.
A coop isn't inherently more expensive than a condo. But in a condo, you're paying your own property taxes (usually included in your monthly mortgage payment). In a coop, there are still property taxes, but they're in the coop fee.
So you've got to be sure you're comparing apples with apples . . . and your question suggests that you are aware of some of those distinctions. So, one way or the other, the DC government is going to be sure to collect the property taxes. And, one way or the other, you'll be paying for utilities. It's just that, in a condo, you may be paying more of those directly and in a coop you may be paying more of those through the coop fee.
Hope that helps.... more
Actually the final walk through in most areas of the country are NOT a condition of the sale.
You might want to review your contract with a real estate attorney and ask the question. In my opinion, and I can not say for sure, I do not believe this is the case.
I can see arguments going both ways, however It is my opinion that it is an informal check up on the house.
Seller is to allow access. The seller did not make it snow. Just the same if the streets were flooded, I don't believe the seller has to clear the streets. Have to make access or allow access may be the key words to recognize here.
Just one opinion I am sure there will be more.
So Cal Homes Realty
This isn't an easy decision to make, so let's take it in parts:
-- selling is harder now, and you're right about taking any profit out of your unit after commissions today
-- however, the market is getting better every day, with much 'movement' expected with a new administration coming to town
-- owning your McLean unit for a few more years should serve you well
-- as a rental your place is very attractive, size and location wise
-- renting it furnished helps you as wel: (i) you don't have any place to take your furniture, so will save storage costs ($400/month?) and (ii) renting 'furnished' adds nicely to a rental rate say $500/month or more to a $2,500/month unfurnished number)
-- renting quite short term, say 'furnished' in 6-month increments could add even more to a per month rate
You may have other considerations, or course, but it sounds to me like renting, (furnished at that), may be your best option. Let me know if I can help, 301-801-2970. Cheers
It all depends on the home. In the DC area we really don't price property by square footage except for commercial space. There is such a variety of home styles, conditions, amenitites, access to transportation, that all come into play when pricing a home in our area. I would be happy to talk with you about what is available in a variety of price ranges in the 20016 zip code area or others close by. Give me a call at 301-518-2922 or email me at firstname.lastname@example.org.... more