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Realtor profile: Michele Wiltse

DC Area Home & Living - Fri, 05/07/2010 - 08:00
Name: Michele Wiltse Company: Lindsay Reishman Real Estate Address: 1514 P St. NW, Rear Carriage House, Suite A, Washington, DC 20005 Phone: 202/510-2955 Fax: 202/560-5543 E-mail: Michele@reishmanrealestate.com Website: www.reishmanrealestate.com and www.WestEndDC.com Year started: 2009 How did you get started in real estate? I started working for a national residential mortgage lender when I was at university. I followed that with a 16-year career in residential home lending, and here I am in the District and still loving the real estate field. I've always been interested in real estate and collect real estate publications when I'm traveling domestically as well as ...

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New in Virginia: Brambleton

DC Area Home & Living - Fri, 05/07/2010 - 08:00
Miller & Smith is building 74 town homes in the Grand Vista Collection at Brambleton in Loudoun County, a planned community with clubhouses, a summer concert series, family activities, a sport and health club, parks, playgrounds, swimming pools, sports fields, tennis courts and a town center. Each home has a stucco front with brick accents, vinyl siding, professional landscaping and a two-car garage. Inside, both models feature four bedrooms; 2 1/2 baths; hardwood flooring in the foyer, powder room and kitchen; 10-foot ceilings on the main level and 9-foot ceilings on the upper and lower levels; 42-inch beech flat-panel cabinets ...

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New in Maryland: Vistas at Browns Bridge

DC Area Home & Living - Fri, 05/07/2010 - 08:00
Winchester Homes and Camberley Homes are building six single-family homes on 2- or 3-acre homesites at the Vistas at Browns Bridge in Highland, located near the Mall in Columbia, historic Ellicott City and golf courses at Hobbits Glen and Fairway Hills. Each home in this Howard County community will include a brick, stone or cement siding front; a water table of brick or stone; a tumbled-finish brick paver front walk; a brick or flagstone front-porch stoop; professional landscaping; and a three-car garage. Inside, all 12 models feature four bedrooms; three or four full baths and one or two half baths; ...

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Mortgage Q&A: Equity-line holders in good shape

DC Area Home & Living - Fri, 05/07/2010 - 08:00
Last week, the Federal Reserve Board of Governors wrapped up a two-day meeting, declaring it would leave interest rates at historically low levels for an "extended period" to help rejuvenate the economy. The Fed controls the federal funds rate, the rate banks charge each other for overnight funds. Contrary to what many folks think, when the Fed "raises" or "lowers" interest rates, it doesn't necessarily translate into higher or lower mortgage rates. On the other hand, homeowners who have a home-equity line of credit will be glad to hear this news because most HELOCs are tied to the prime rate, ...

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Luxury home: Brand-new in historic Lyon Village

DC Area Home & Living - Fri, 05/07/2010 - 08:00
Lyon Village in Arlington, Va., a historic neighborhood tucked between Lee Highway, Wilson Boulevard, Veitch Street and Kirkwood Road, offers an eclectic mix of homes and an ideal location near both the Courthouse and Clarendon Metro stations. Residents enjoy their community of tree-lined streets, parks and multiple communitywide events and activities. Easy access to restaurants, shops and nightlife in Clarendon and nearby in Georgetown and downtown Washington make Lyon Village appealing to individuals and families who want the best of both worlds: a single-family home on a quiet street along with urban amenities on demand. Homes in Lyon Village run ...

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Charting the market: Good bets in Maryland

DC Area Home & Living - Fri, 05/07/2010 - 08:00
If you're willing to drive a little way from the District and its nearest suburbs, three counties in Maryland are offering homebuyers affordable prices and an easier shopping experience than they'll find closer to the Beltway. The counties are Frederick in the north, Anne Arundel to the east, and Charles down south. Although they have numerous differences as communities, homebuyers will find that each offers a similar level of competition and affordability. Generally speaking, this means buyers will find more available homes at lower prices. Sure, you can drive farther and pay less, but if you want to be in ...

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Cover story: Home-equity spigot opens slightly

DC Area Home & Living - Fri, 05/07/2010 - 08:00
In 2008 and 2009, many homeowners were shocked when their lenders canceled their home-equity line of credit or reduced the amount of credit available. The combination of plummeting home values and the credit crunch made this particular loan product almost impossible for many borrowers to find. A recent Bloomberg article reported that economists anticipate a modest rebound in home-equity lending in 2010, with lenders expected to approve about $36 billion in new home-equity loans this year nationwide. The key elements in obtaining approval for a home-equity loan or home-equity line of credit are the equity in the home and the ...

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Mortgage Q&A: How much to borrow?

DC Area Home & Living - Fri, 04/30/2010 - 08:00
Q. I am under contract to purchase a new home being constructed in Maryland. I have been approved for 90 percent financing on a purchase price of $350,000. After I received the Good Faith Estimate from my lender, I realized my interest rate was significantly higher with a 10 percent down payment as compared to a 20 percent down payment. I have more than $500,000 in my company's 401(k) retirement account. My investment counselor suggested I take a 10 percent penalty and withdraw an additional $35,000 so I can increase my down payment to 20 percent and receive a lower ...

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Luxury home: Grand yet cozy in McLean

DC Area Home & Living - Fri, 04/30/2010 - 08:00
The quiet streets of McLean, Va., long have been a haven for Washington's elite, a place where they can escape the intensity of high-powered careers, spend time with friends and family and entertain. While many of McLean's homes fit the mold of grand Colonial estates, a few stand out from the crowd, including the custom-designed contemporary at 1803 Dominion Crest Lane in the Vinson Estates community. On the market for $1,600,000, this home has 5,800 finished square feet along with 2,400 square feet of unfinished space in an above-ground lower level that features a separate entrance and a second driveway. ...

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Realtor profile: Pam Milan

DC Area Home & Living - Fri, 04/30/2010 - 08:00
Name: Pam Milan Company: Coldwell Banker Previews International Address: 6932 Old Dominion Drive, McLean, VA 22101 Phone: 877/996-4526 Fax: 703/356-7000 E-mail: info@PamMilan.com Website: www.GetSOLDnotListed.com Year started: 1985 How did you get started in real estate? When I bought my first home in the early '80s, I thought, "This is the perfect job for me!" Licenses and designations: Licensed in Virginia, Maryland, the District and California; member of the Greater McLean Chamber of Commerce; previews international specialist; Top Producer, Great Falls-McLean Coldwell Banker Office; featured Washington Realtor team in many publications; accredited buyers representative; certified relocation specialist; International President's Club; Northern ...

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New in Maryland: White Flint Station

DC Area Home & Living - Fri, 04/30/2010 - 08:00
Toll Bros. is building 261 condominium homes at White Flint Station in North Bethesda, located within two blocks of the White Flint Metro station. Nearby are White Flint Mall, Rockville Town Center, the Music Center at Strathmore and shops and restaurants. This Montgomery County development includes a resort-style swimming pool, a fitness center, landscaped courtyards, a clubroom and a parking garage. Inside, all six models feature one to three bedrooms; one or two full baths; a patio or balcony; hardwood flooring throughout the living areas; 9-foot ceilings; crown moldings; 42-inch cabinets, stainless steel appliances, granite counters, a pantry and a ...

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New in Virginia: Reids Prospect

DC Area Home & Living - Fri, 04/30/2010 - 08:00
Ryan Homes is building 46 single-family homes on eighth-of-an-acre to quarter-acre homesites at Reids Prospect in Woodbridge, a community with planned amenities, including a town center with shops and restaurants, lakes, parks, a clubhouse and a swimming pool. Reids Prospect is near Occoquan, the Prince William Parkway and Interstate 95. Each home in this Prince William County community will include a brick water table, professional landscaping and a two-car garage. Inside, all three models feature four bedrooms; 2 1/2 baths; hardwood flooring in the foyer; an interior trim package; a fireplace; double wall ovens, a separate cooktop and recessed lighting ...

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Cover story: Borrower relief uneven, not easy

DC Area Home & Living - Fri, 04/30/2010 - 08:00
The numbers are startling. 43,248 foreclosure filings in Maryland alone in 2009, according to the state Department of Housing and Community Development, a 33.7 increase from 2008. Seven million households behind on their mortgage payments nationwide. Millions of homeowners underwater, owing more on their mortgages than their homes are worth. It has been called the "50-state Katrina" that threatens to swamp the American dream of homeownership. One facet of the solution? A mortgage modification plan that would stretch out payments, reduce interest rates and, in some cases, even cut the principal owed. But the federal government's loan modification program is ...

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Resale of the week: A sunny surprise inside

DC Area Home & Living - Fri, 04/30/2010 - 08:00
The winding lanes of Great Falls, Va., lead to an array of elegant homes set on lots of nearly one acre or larger. Residents relish their privacy, with forests and streams slipping between the homes and providing a paradise for homeowners to enjoy. While Great Falls homes run the gamut from traditional Colonial-style estates to contemporary wood, glass and stone residences, most share the distinction of blending into their natural surroundings. Nearby parks such as Riverbend Park and Great Falls Park offer more places for families to enjoy nature, while the community also has horse centers, country clubs and swimming ...

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Charting the market: Sellers smiling in March

DC Area Home & Living - Fri, 04/30/2010 - 08:00
March was very good to Washington-area home sellers. It was easier to sell a home in March than at any time in the past four years. As the chart at the bottom of the page shows, sales took off as the snow melted and buyers took advantage of low interest rates and the federal homebuyers tax credit, which expires today. The inventory of unsold homes rose along with sales because more folks put their properties on the market. About 14,000 homes were listed with area Realtors in March, up from 7,800 in February. That's a huge increase, which could have ...

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