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Potomac Crest: Montgomery's garden spot

Northern Virginia Home Guide - Fri, 02/25/2011 - 15:20
One of the first things you notice about Potomac Crest, a community of 131 townhouses and duplexes and 31 detached homes near Seven Locks Road and Tuckerman Lane, is the landscaping. "The overall community is beautifully landscaped and maintained by the owners and a very active homeowners associa...


As deficit looms larger, senators' eye cuts in mortgage interest deductions

Northern Virginia Home Guide - Fri, 02/25/2011 - 15:18
Just because President Obama's latest budget proposal calls for rollbacks in mortgage interest deductions solely for high-income taxpayers, should you assume that all of your write-offs as a homeowner are secure from attack?

New in Maryland: The Ridings at Upper Marlboro

DC Area Home & Living - Fri, 05/21/2010 - 08:00
K. Hovnanian Homes is building 139 single-family homes on quarter-acre to half-acre home sites at the Ridings at Upper Marlboro in Upper Marlboro, a planned community with walking trails located near equestrian and fitness trails, shopping, dining and entertainment. K. Hovnanian is offering $20,000 in closing-cost assistance to buyers who use the preferred mortgage and title companies. Each home in this Prince George's County community will include a stone front, low-maintenance vinyl siding, professional landscaping, a sodded lawn and a two-car garage. Inside, all six models feature four bedrooms, 2 1/2 baths, hardwood flooring in the foyer, 9-foot ceilings on ...

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Mortgage Q&A: 7/1 ARM can work

DC Area Home & Living - Fri, 05/21/2010 - 08:00
I had an interesting conversation with a potential refinance client last week. He has a 30-year fixed-rate jumbo loan in the amount of $745,000 with an interest rate of 5.75 percent. He told me he is making significant extra payments on the principal in hopes of paying off the loan early and is interested in refinancing to a lower rate. I told him that because of his loan balance, I couldn't provide him with a lower 30-year fixed rate. I suggested that he consider a 7/1 adjustable-rate mortgage (ARM) with a rate that would be fixed for the first seven ...

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Resale of the week: Sunny style in McLean

DC Area Home & Living - Fri, 05/21/2010 - 08:00
Residents of Bryn Mawr, a sought-after neighborhood in McLean, Va., enjoy the privilege of living in a quiet, tree-lined community within walking distance of shops, restaurants and parks. A mix of traditional Colonial-style homes, Cape Cod cottages and Craftsman-style homes can be found in this area, many of them renovated and expanded. Bryn Mawr attracts residents for the convenience not only of walking to local amenities, but also its proximity to major commuter routes. Less than a mile from Route 123, commuters can quickly reach Tysons Corner or downtown Washington or Georgetown along with the Beltway, Route 66 and Route ...

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New in Virginia: Avonlea Grand Town Residences

DC Area Home & Living - Fri, 05/21/2010 - 08:00
NV Homes is building 300 town homes on 3,000-square-foot home sites at the Avonlea Grand Town Residences in Chantilly, a community with a swimming pool, recreation center, tennis courts and walking trails. Avonlea is near the East Gate Market Place, Stone Ridge and South Riding. Each home in this Loudoun County community will include beaded vinyl siding, professional landscaping and a two-car garage. Brick and stone fronts are optional. Inside, each model features three finished levels with three bedrooms; two full baths; a powder room; hardwood flooring in the powder room and kitchen; 9-foot ceilings on all three levels; crown ...

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Realtor profile: Chris Upham

DC Area Home & Living - Fri, 05/21/2010 - 08:00
Name: Chris Upham Company: Coldwell Banker Residential Brokerage in Alexandria Address: 310 King St., Alexandria, VA 22314 Phone: 202/359-1308 Fax: 202/315-3361 E-mail: cupham@cbmove.com Website: www.UphamRealEstate.com Year started: 2003 How did you get started in real estate? I was really interested in real estate investing, but wanted to learn more. I decided to learn the business from the inside by becoming a licensed Realtor. How long with the current company? Since 2007 Licenses and designations: Licensed in the District, Maryland and Virginia; certified Energy Smart Real Estate Specialist (ESRES) Associations: Greater Capital Area Association of Realtors, National Association of Realtors Awards: ...

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Charting the market: Incentives spur April purchases

DC Area Home & Living - Fri, 05/21/2010 - 08:00
Spring is always the busiest time for Washington-area home sales, and this has been the busiest spring we've seen in several years. During the spring market, March sometimes emerges with the highest sales, but in some years April and May take that title. This year, April beat March by a wide margin, and I don't think May has a chance. Nearly 12,000 existing homes were sold last month in the Washington region - an increase of 26 percent over last year. Sales were up 5 percent in Virginia and rose an amazing 52 percent in Maryland. • PDF: Charting the ...

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Luxury home: Getting away from it all in minutes

DC Area Home & Living - Fri, 05/21/2010 - 08:00
Northwest Washington's Spring Valley community offers a quiet oasis within minutes of downtown Washington, Georgetown and the nearby Maryland and Virginia suburbs. This prestigious neighborhood of elegant homes, located off Massachusetts Avenue between Ward Circle and Westmoreland Circle, is known for its stately architecture, gardens and mature trees. Shops and restaurants are within walking distance of most Spring Valley homes. One of Spring Valley's premier homes, located at 4717 Quebec St. NW, is on the market for $2,950,000. Built in 1949, this home has been extensively renovated and expanded with a seamless three-story addition by local architect Dale Overmeyer. The ...

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Cover story: Sales get sunny for vacation homes

DC Area Home & Living - Fri, 05/21/2010 - 08:00
Worries about a slumping economy might suggest that buying or renting a vacation home is the last thing on the minds of most consumers, yet 2009 was a good year for vacation home sales, according the National Association of Realtors. Perhaps recession fears led more families to invest in places where they could escape the news and relax a little. The National Association of Realtors 2010 Investment and Vacation Home Buyers Survey reports vacation-home sales rose by 7.9 percent in 2009, while primary residence sales rose by 7.1 percent. Statistics show vacation-home prices rose by 13 percent in 2009 after ...

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Charting the market: Resales surge past new homes

DC Area Home & Living - Fri, 05/14/2010 - 08:00
Sales of new homes are lagging behind existing-home sales in the Washington region. New-home sales were down 2 percent in the first quarter compared to 2009. Existing-home sales were up 10 percent in the first quarter. Why such a big difference? At least two things come to mind. First, there are a lot of existing homes (also known as resales) from which to choose. Buyers had 35,000 resales from which to choose at the end of March. More than 10,000 resales were sold in March, compared to just 1,078 new homes. So existing-homes sales are 10 times higher than new-homes ...

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Realtor profile: C.P. Subramanian

DC Area Home & Living - Fri, 05/14/2010 - 08:00
Name: C.P. Subramanian Company: Weichert, Realtors Address: 7821 Tuckerman Lane, Potomac, MD 20854 Phone: 301/806-1354 (cell), 301/718-4100 (office) Fax: 301/983-9389 E-mail: cpsub@aol.com Website: http://cpsubramanian.weichertagentpages.com Year started: 2004 How did you get started in real estate? After I retired from my finance/business career, I was looking for an opportunity to be in business for myself. I was attracted to real estate sales because they afforded the opportunity to start a new business without a major investment. How long have you been with the current company? Five years Licenses and designations: Licensed in Maryland, Virginia and the District; broker in Virginia Associations: ...

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New in Virginia: Raspberry Falls

DC Area Home & Living - Fri, 05/14/2010 - 08:00
Van Metre Homes is building 201 single-family homes on half-acre to 1-acre homesites at Raspberry Falls in Leesburg, a resort-style community with a golf course, swimming pool, clubhouse and tennis courts. Each home in this Loudoun County community will include a brick or stone-and-siding front, 6 1/2-inch beaded vinyl siding, a sodded yard, an asphalt drive and a three-car garage. Inside, all four models feature four bedrooms; 4 1/2 baths; oak stairs; hardwood flooring in the foyer, powder room and hall; 9-foot ceilings on all three levels; crown and chair-rail moldings; a gas fireplace; 42-inch flat-panel birch cabinets, granite counters ...

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New in Maryland: The Addison

DC Area Home & Living - Fri, 05/14/2010 - 08:00
Bozzuto Homes is building 122 condominium homes at the Addison in Capitol Heights, a gated community with controlled-access buildings near the Addison Road Metro station, National Harbor and the shops and restaurants of the Boulevard at the Capital Centre. The Addison, located in Prince George's County, has a stone-and-vinyl exterior; a tot lot; and a clubhouse with an exercise room, a conference room and a lounge. Garages and storage units are available. Inside, both models have two bedrooms, one or two full baths, wood-style laminate flooring in the foyer and kitchen, 9-foot ceilings, beech cabinets and granite counters in the ...

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Resale of the week: Colonial with a surprise

DC Area Home & Living - Fri, 05/14/2010 - 08:00
Chloethiel Woodard Smith, an architect and urban planner in the Washington area best known for her design work at Harbour Square in Southwest Washington, Waterview town houses in Reston, Va., and the National Airport Metro station, also designed individual homes throughout the city and its suburbs during her long career. Smith's innovative, contemporary style influenced both residential and commercial architecture, including the intersection of Connecticut Avenue and L Street Northwest, where she designed three of the four office buildings there. Local critics and other architects have referred to this intersection as "Chloethiel's Corner." On a smaller scale, Smith designed an ...

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New in D.C.: The Harrison

DC Area Home & Living - Fri, 05/14/2010 - 08:00
Friendship Heights may not have the hipness of the Penn Quarter or U Street neighborhoods, but this community in the District's Northwest quadrant has plenty of shops and restaurants to tempt local residents and visitors from around the city. Located along Wisconsin Avenue and straddling the border of Maryland, Friendship Heights rests next to Chevy Chase and surrounds the Friendship Heights Metro station. Upscale shops such as Neiman-Marcus, Saks Fifth Avenue and Tiffany mix easily with retail outlets such as Filene's Basement, Steinmart and Ann Taylor Loft in the shopping centers that flank Wisconsin Avenue. Bloomingdale's and Lord & Taylor ...

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Cover story: Laundry area climbs out of basement

DC Area Home & Living - Fri, 05/14/2010 - 08:00
Washing clothes has become less of a chore, thanks to today's well-designed, conveniently located laundry rooms. No longer relegated exclusively to the basement, newer laundry rooms have been applauded by homeowners. Statistics show the average person spends at least six hours a week doing laundry, so it makes perfect sense that homeowners crave a more stylish and functional space to do their "dirty work." "These rooms are becoming larger and more multifunctional, with organizers, a table for folding, ironing stations and windows with a view," says Stephen Melman, director of economic services for the National Association of Home Builders (NAHB). ...

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Mortgage Q&A: Rules squeeze small firms

DC Area Home & Living - Fri, 05/14/2010 - 08:00
I got into the mortgage business in 1988, working as a loan officer for a Virginia savings bank. After four years, I resigned, and in 1992, I opened my own mortgage broker company. Back in the day, a lot of folks in the business warned me my company would fail because mortgage brokers can't provide certain services, such as "in-house underwriting and closing." Those folks also argued that mortgage brokers are required to disclose all their fees to the borrower, while loan officers who work for banks need not disclose their commissions, no matter how excessive. These warnings didn't deter ...

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Fannie Mae seeks $8.4B in federal aid

DC Area Home & Living - Mon, 05/10/2010 - 16:44
WASHINGTON (AP) -- Mortgage giant Fannie Mae again has asked taxpayers for more money -- this time $8.4 billion -- after reporting another steep loss for the first quarter. The taxpayer bill for rescuing Fannie and its sibling, Freddie Mac, has grown to $145 billion, and the final tally could be much higher. The rescue of Fannie and Freddie is turning out to be one of the most expensive aftereffects of the financial meltdown. Late last year, the Obama administration pledged to cover unlimited losses through 2012 for the pair, lifting an earlier cap of $400 billion. And with the ...

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Resale of the week: Surrounded by beauty in Fort Washington

DC Area Home & Living - Fri, 05/07/2010 - 08:00
An amazing river view, two wood-burning fireplaces and historic features all are included in an expanded Cape Cod on the market in Fort Washington, Md. With the feel of a vacation resort, the three-bedroom, three-bath home blends in with the tall trees in a serene parklike setting. The original brick home was built in 1935, and an addition was constructed six years later. The home's three finished levels are filled with Old World-style custom craftsmanship. Located on a quiet street at 9811 Indian Queen Point Road, the house, on the market for the first time, is listed at $849,000. The ...

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