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Home Buying in 20814 : Real Estate Advice

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  • Local Info1
  • Home Buying10
  • Home Selling1
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Activity 10
Tue Sep 27, 2016
Amelia Robinette answered:
are you asking after the fact? if you're under contract, it's too late to ask for this info.

Your agent should have gathered the information for you during your negotiations.
0 votes 1 answer Share Flag
Tue Sep 27, 2016
Amelia Robinette answered:
Read your agreement with the home inspection, it will tell you if expecting them to identify mold is in their scope.

You should have had a separate mold inspection if mold is important to you. ... more
0 votes 1 answer Share Flag
Fri Dec 4, 2015
Dan Tabit answered:
SJ,
In a competitive situation, if everything else is equal, the buyer with the larger down payment may be preferred by a seller due to greater security in getting the loan approved. VA may also require the seller to complete any issues discovered in the inspection that might be health or safety related before they would fund the loan.
When you are one of 2 or more bids, this puts you at a competitive disadvantage. How you decide to proceed is up to you, but that has been my experience.
Now, as to the inspector. I know that I've been on hundreds of inspections and like many professions there are some that are much better than others. I suggest my recommended inspector to my clients because I know they do a very comprehensive job, provide a quality report, use state of the art technology and are trained in it's operation.
I also tell my inspectors to tell the truth, the whole truth and nothing but the truth. If it's a bad house, I'm the first one to want to kill the deal and find a better one, or to suggest we make the demands required to protect my buyer if we do proceed.
I don't know who your agent is, what their morals or ethics are, but a good one will put your interests above their own in finding the right house, using the right loan to be competitive and using the best vendors to ensure all goes well.
... more
1 vote 1 answer Share Flag
Sat Aug 3, 2013
Barak Sky answered:
I have sold a good amount of terrace level units in building ranging in size from row house conversions to high rises. Something to keep in mind is you will usually buy them at a lower price per sq ft and sell them for a lower price per sq ft however they sill still appreciate and depreciate with the market. There are some terrace level units depending on the building that will actually demand a higher price due its great and sometimes unique/rare outdoor space. Just make sure that if you chose to move forward that you have a home inspection and in some cases radon inspection. When it comes to having your windows on the ground level that is for sure a aspect that you need to think about. However, that is one of the reasons that usually make a unit more affordable. So its give and take.

Barak Sky - Realtor
Selected as one of REALTOR® Magazine's "30 under 30"
Licensed in DC, MD, and VA
Cell: (301) 742-5759
Office: (240) 497-1700
Fax: (240) 497-0350
Sky Group
www.SkyGroupRealEstate.com
facebook: www.facebook.com/barakskyrealtor
Zillow: http://www.zillow.com/profile/Barak-Sky/
Trulia: http://www.trulia.com/profile/baraksky

Long & Foster Realtors
7700 Old Georgetown Road
Bethesda, MD 20814
... more
1 vote 9 answers Share Flag
Sun Jul 14, 2013
Sandie Goldstein answered:
Hi,
A 2BR 2BA rental in the Promenade would be approximately $2,200. - $2,400 month. This would include an assigned garage space, unlimited parking in 1 of 3 lots, all utilities and basic cable, plus the amenities (pools, tennis & huge state of the art health club). If you are looking to purchase, prices range from $220,000 to $275,000. It depends completely on the view and renovations.
Sandie Goldstein
Weichert Realtors
301-367-1331
www.goldengirlrealestate.com
www.sandiegoldstein.com
... more
0 votes 5 answers Share Flag
Thu Dec 13, 2012
Dana Hollish Hill answered:
As an exclusive buyer's agent, I work with and recommend home inspectors all the time. It is important to find one that is very thorough, and will teach you about your new home and the regular maintenance that will be part home ownership. The inspectors I respect most are very straight forward. Sometimes they have to stop the inspection and say that the home is not worth buying. Some inpsectors are very thorough, but are not great teachers. Some agents are closely affiliated with listing agents so I question their objectivity.

I have a long list of great inspectors, but there are two excellent inspectors who I use most often. I feel very comfortable recommending them to all of my buyer clients. They are:

Bobby Mayberry, RPM Home Inspect, LLC
O: 703.554.3906

Larry Wasson, of Affiliated Inspectors
O: 301.986.8866

Let me konw if you have any other questions about home inspectors.

Dana Hollish Hill
Vice President, Buyer’s Edge Company, Inc.
Representing People, Not Properties
301-657-1475 cell 202.271.5301 web Hollish.com
... more
0 votes 5 answers Share Flag
Wed May 30, 2012
Touchdown answered:
I have lived in the same unit for 32 years. In 1981 I rented a 981 square foot for
$595 a month. I finally bought in 1989 for $95,000. Prices have gone as high as $289,000 and currently in May 2012, they just skirt $200,000. Best place in Bethesda. You are buying a lifestyle! Country Club lifestyle. Nestled on 22 acres, inside pool and great health club open from 5 a.m. to 10 pm. Spacious closets, halls, lovely balcony views. We currently have too many renters as heirs don't want to sell at a lower price. My apartment would rent for $1600 minimum. I have no mortgage and pay $900 a month which includes, utilities, cable, real estate taxes...you pay nothing more but private phone line and upgraded cable or Verizon services (we have both). Well managed, secure, beautiful grounds and a park-like setting with fantastic tennis courts, great restaurant, doctor offices, and a super Beauty Salon -- the New
Wave. It's a lifestyle and it's in Bethesda. Two buses serve the area for those wanting not to drive. Underground parking is available - free. No pets allowed and preferably no smokers!
... more
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Thu Feb 24, 2011
Jill Chodorov answered:
Hi- Have you found a loft to rent or purchase yet? There is a fabulous loft in Silver Spring not far from downtown and it is near Rock Creek Park, which would be excellent for your son. Please let me know if you would like further information.

www.dcdwell.com
... more
0 votes 5 answers Share Flag
Fri Jan 28, 2011
answered:
Jason answered this question well. I do want to add a couple of points that I don't think many are aware of. Bank of America and Wells Fargo have their own appraisal management firms. These management firms have a set rotation of appraisers and they are a profit center for the respective banks. If a client is charged four hundred dollars for an appraisal, in most cases less than half of that goes to the appraiser putting together the report. On top of that, the appraisers have no reason to work harder to put together a quality report because most times the appraiser is judged on speed and the sentiment these days is for appraisers to error on the side of being conservative with values.

So what would you do if you were an appraiser given these conditions? You are getting paid half your normal fee and you are placed in higher regard based on stealth rather than skill. Why would you go the extra mile when nothing good can be gained for the extra work?

Smaller banks like ours manage our rotation through an independent firewall and we get no profit from any appraisal that is assigned. Our appraisers get full fee and are at times paid more based on turn times, difficulty and distance (price determined BEFORE job begins and disclosed). Our appraisers are all LOCAL and if they were to hand in sloppy work, they would get taken off of the rotation.

Appraisal shenanigans are next to impossible to get away with these days if anyone were silly enough to try them. Each appraisal is audited at least THREE times before it gets to the end investor. Online fraud detection systems like Corelogic give underwriters and auditors information that doesn't allow appraisers to conveniently leave out lower comparables that might bring in a lesser value. At the same time, there is information such as upgrades, view, condition that comps can't take into account.

Appraisers that get paid what they are worth go the extra mile to bring in the REAL value. At times, that value can come in lower than the original sales price. At the same time, it can come in much higher than the original contract price as well. We know whatever they come back with in terms of value is based on a thorough report.
... more
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