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New Listing! 4892 Chevy Chase Boulevard Chevy Chase, MD 20815

by Phyllis Wiesenfelder

                                                   

4892 Chevy Chase Boulevard
Chevy Chase, MD 20815
 
Offered at: $825,000
 
 
Welcome to this picturesque colonial overlooking Norwood Park in sought-after Chevy Chase West.  Southern charm and a sweeping veranda combine with elegant rooms, beautiful architectural details and colorful fairy tale gardens. This distinctive residence boasts an enchanting front porch, welcoming living room with fireplace, formal dining room with glorious park views and light-filled kitchen. There are three bedrooms, a glass enclosed sleeping porch and full bath on the second level. The lower level includes a recreation room, laundry, half bath and storage room. A serene and tranquil setting with mature trees and lush garden beds surrounds this delightful home.  
 
Open your back gate and enjoy all the amenities of Norwood Park with its tennis courts, playgrounds and tot lots. Bike, walk or jog on the Capital Crescent Trail.  Stroll to the Bethesda Pool, Somerset Elementary School, the Bethesda and Friendship Heights Metro Stations and the vibrant social life and restaurant scene of downtown Bethesda and Chevy Chase.
4892 Chevy Chase Boulevard
Chevy Chase, MD 20815
 
Offered at: $825,000

New Listing! 4806 Chevy Chase Boulevard Chevy Chase, MD

by Phyllis Wiesenfelder
 
4806 Chevy Chase Boulevard
Chevy Chase MD 20815
Offered at: $1,100,000
Welcome to this picture perfect colonial on a tree-lined street in sought-after Chevy Chase West. Built in 1935, this charming home has been extensively updated and expanded over the years while retaining its original architectural details and gracious appointments. This distinctive residence offers a welcoming living room with fireplace, formal dining room with two built-in corner china cabinets, granite and stainless steel kitchen, full bath and sun-drenched family room with beautiful backyard views. There are four bedrooms and two stylishly renovated baths on the second level. The lower level includes a recreation room, office with natural light, half bath, and large laundry room. The generous private yard features a stone patio that is perfect for outdoor entertaining and wonderful play space.
 
This superbly located home is a hop, skip and a jump to Norwood Park with its tennis courts, playgrounds and tot lots, the Capital Crescent Trail and the Bethesda pool. It is a short stroll to Somerset Elementary School, the Bethesda and Friendship Heights Metro stations and the vibrant social life and restaurant scene of downtown Bethesda and Chevy Chase.

New Listing! 4809 Drummond Avenue Chevy Chase, MD

by Phyllis Wiesenfelder


4809 Drummond Avenue
Chevy Chase MD 20815
 
Offered at: $1,450,000

Welcome to this stately Georgian colonial located in the heart of one of Bethesda Magazine’s “10 Great Streets to Live On”. This pre-war beauty has been thoughtfully expanded while retaining its original architectural details and gracious appointments. This distinctive residence offers an elegant living room with bay window and fireplace, formal dining room, handsome high ceilinged family room with picture window, sun-drenched den, powder room and expansive kitchen complete with breakfast room. There are three bedrooms and two full baths, including a master suite with a versatile office or nursery on the second level. The lower level includes a recreation room with custom built-ins, half bath, and outside entrance. The generous private yard features a multi-leveled deck and wonderful play space – perfect for soccer or baseball practice.

This superbly located property is a hop, skip and a jump to Somerset Elementary School and just half a block to the path leading to the Capital Crescent Trail, the Bethesda Pool and the tennis courts and playgrounds of Norwood Park. It is a short stroll to both the Bethesda and Friendship Heights Metro stations and the vibrant social life and restaurant scene of downtown Bethesda and Chevy Chase.

New Tax Season

by Phyllis Wiesenfelder
I hope your 2018 is off to a great start.
 
With a new year comes a new tax season and, this year, a new tax law, which went into effect on January 1. While the tax changes will not affect your 2017 filing, it is advisable to be aware of what is in store for next year.   Hopefully, this letter will help you on that front as it relates to your real estate holdings/investments.
 
The number of income tax brackets remains the same, but they include lower tax rates. The new tax bill also eliminates or reduces several itemized deductions, including moving expenses except with military households, interest on home equity loans unless used for home improvements, and more. 
 
Here are a few important real estate-related results of the new tax bill to keep in mind.
 
Mortgage interest deductions are now limited to a combined $750,000 of debt for both primary residences and second homes for any loans taken out after Dec. 14, 2017. Current homeowners with loans made before that date, however, are grandfathered into the previous deduction, which allowed a combined debt limit up to $1 million.  
 
State and local tax deductions are now capped at a combined $10,000 – this includes state and local property, income and sales taxes. This will largely affect taxpayers in higher-tax states.
 
Capital gains tax exclusions remain the same when you sell your house. Married couples filing jointly can still exclude up to $500,000 when selling their primary home, as long as they’ve lived there two of the past five years.
 
Investment properties were largely unaffected by the new tax bill.  As such, you will continue to enjoy the same financial benefits for any investment property you currently own or those you may buy in the future.
 
While the inventory shortage will likely continue through 2018, this is a great time to invest in real estate. Homes are appreciating, interest rates on mortgage loans are still around historical lows and there are tax advantages for property and business owners. 
 
As always, if you have any real estate-related questions, please feel free to contact me. I look forward to helping you (and anyone you know) with your future real estate needs. 
 
 
 
*The information contained in this letter is not intended to be and does not constitute financial or investment advice.

Our Annual Home Sale Wrap-Up in The Town of Somerset

by Phyllis Wiesenfelder

Dear Neighbors,

It is a privilege to share with you our annual home sale wrap-up.

We experienced a year of impressive home sale prices.  Nearly 80% of the homes sold were over $1 million.

Our community, with its premium close-in location, award–winning schools, diverse architectural styles, proximity to Metro and convenience to fine dining, shopping and entertainment, is the neighborhood of choice for a multitude of buyers.

If you would like complementary information, such as help with a property tax appeal, or if you are thinking about a home sale or purchase, please give us a call.

We are longtime neighborhood residents and at all times put our knowledge and professionalism acquired by three decades of experience to work for you.

We wish you a happy and healthy New Year!

Home Sales in 2017

Town of Somerset

       
       

Address

Style

List Price

Sold Price

4915 Cumberland Avenue                

Colonial

$2,699,900

$2,600,000

5511 Uppingham Street                    

Craftsman

 $2,295,000

  $2,265,000

5415 Surrey Street                             

Contemporary

  $1,895,000

  $1,840,000

5710 Surrey Street                             

Colonial

  $2,049,000

  $1,699,000

4721 Essex Avenue                            

Victorian

  $1,650,000

  $1,550,000

5800 Deal Place                                  

Contemporary

  $1,625,000

  $1,500,000

5813 Surrey Street                             

Colonial

  $1,349,000

  $1,365,000

5502 Greystone Street                      

Split Level

  $1,325,000

 $1,315,000

4807 Grantham Avenue                    

Split Foyer

  $1,225,000

  $1,225,000

5510 Greystone Street                      

Split Level

  $1,109,700

  $1,109,700

4701 Cumberland Avenue                

Victorian

  $1,275,000

  $1,100,000

5415 Trent Street                               

Rambler

  $1,200,000

  $1,100,000

4511 Cumberland Avenue                

Victorian

  $1,095,000

  $1,050,000

4608 Dorset Avenue                          

Rambler

  $1,050,000

  $1,050,000

5522 Greystone Street                      

Contemporary

     $924,900

    $950,000

4509 Cumberland Avenue                

Farm House

     $925,000

     $925,000

 

Chevy Chase West

 

4822 DeRussey Parkway                    

Contemporary

$2,295,000

$2,250,000

4800 Morgan Drive                             

Arts & Crafts

  $1,899,900

  $1,850,000

4816 Drummond Avenue                   

Colonial

  $1,649,000

  $1,625,000

4624 Nottingham Drive                      

Colonial

  $1,489,000

  $1,480,000

4604 Chevy Chase Blvd                       

Colonial

  $1,200,000

  $1,317,000

4600 Chevy Chase Blvd                       

Colonial

  $1,299,000

  $1,270,000

4612 Langdrum Lane                           

Colonial

  $1,249,000

  $1,250,000

4823 Chevy Chase Blvd                       

Colonial

  $1,219,000

  $1,220,000

4832 Langdrum Lane                           

Colonial

  $1,249,000

  $1,203,000

4606 Davidson Drive                           

Cape Cod                              

 $1,175,000

  $1,165,000

4703 Morgan Drive                              

Colonial

 $1,095,000

  $1,150,000

4812 DeRussey Parkway                     

Rambler

     $995,000

  $1,049,000

4611 Davidson Drive                           

Colonial

  $1,000,000

  $1,000,000

4805 Morgan Drive                             

Rambler

     $998,000

     $998,000

4712 DeRussey Parkway                    

Colonial

     $999,999

     $982,000

4826 DeRussey Parkway                     

Rambler

  $1,075,000

    $950,000

6304 Wisconsin Avenue                     

Colonial

     $799,000

     $855,100

6411 Offutt Road                                 

Colonial

     $749,000

     $815,000


The above information is based on data provided by the Metropolitan Regional Information Systems.

If your home is currently listed for sale, this is not intended as a solicitation of that listing.

December 2017 Washington, DC Market Trends Report

by Greater Capital Area Association of REALTORS®


December sales up 10.0 percent; median sales price at highest December level

December’s median sales price was $565,000, topping last year’s median by 2.7 percent and recording the highest December level on record. The 695 December sales represented a 10.0 percent increase versus last year and 3.3 percent above the December 5-year average of 673. Even with the median sales price at record highs, supply is scarce with only 1.4 months of supply on hand. There was a 3.2 percent bump in contract activity compared to last December. The 613 overall new pending sales topped the five-year December average by 11.2 percent. Closed sales increased compared to last December in every segment. Half the homes sold in December were on the market for 18 days or less and the competition among buyers kept the median percent of asking price at 99.1 percent.

  • Closed sales. The 695 December sales represented a 10.0 percent increase versus last year and 3.3 percent above the December 5-year average of 673. The 9,250 cumulative year-to-date sales are 8.6 percent more than the number sold through December of last year.
  • Contract activity. There was a 3.2 percent bump in contract activity compared to last December. The 613 overall new pending sales topped the five-year December average by 11.2 percent.
  • Listing activity. The number of new listings decreased 9.9 percent compared to last December. The 511 new listings is slightly above the five-year December average of 507.
  • Inventory. The 1,069 active listings at month’s end are 1.0 percent less than at the same point last year.
  • Months of Supply. Supply remains scarce relative to demand, continuing to drive a strong seller’s market in the District. The 1,069 active listings represent just 1.4 months of supply.
  • Prices. December’s median sales price was $565,000, topping last year’s median by 2.7 percent and recording the highest December level on record.
  • Days on Market (DOM). Half the homes sold in December were on the market 18 days or less prior to contract, 4 days longer than in December 2016.
  • Sales Price to Original List Price Ratios (SP to OLP). Half the sellers received 99.1 percent of original list priceor less, exactly the same as last December.

 
Washington, DC – (January 10, 2018) – The following analysis of the Washington, DC housing market has been prepared for the Greater Capital Area Association of REALTORS® based on analysis of Bright MLS multiple listing data by MarketStats by ShowingTime.

December 2017 Montgomery County Market Trends Report

by Greater Capital Area Association of REALTORS®


December closed sales dip 2.8 percent; median sales price up 2.5 percent YTD

December’s tally of 926 closed sales dipped below last year’s level by 2.8 percent and below the five-year December average by 1.4 percent. The 717 new pending sales marked a 12.1 percent dip from last December and fell below the five-year December average by 2.6 percent, or 19 contracts. There were 557 new listings added in December, 11.7 percent less than last December’s mark. The 1,569 active listings dip far below last December’s active listing total 1,799 (-12.8%). The 1,569 active listings heading into January represent 1.5 months of supply given the average sales pace over the last twelve months, favoring the seller slightly more than the 1.7 months of supply last December. Half of the homes sold in December were on the market 31 days or less, six days quicker than the
median DOM in December 2016. The $410,056 median in December was 1.0 percent lower than last December’s median of $414,000. The year-to-date median sales price was up 2.5 percent to $420,000 over the same time last year. Closed sales rose in the condo/co-op segment while dipping in the detached and townhouse segments.

  • Contract activity. The 717 new pending sales marked a 12.1 percent dip from last December and fell below the five-year December average by 2.6 percent, or 19 contracts.
  • Closed sales. December’s tally of 926 closed sales dipped below last year’s level by 2.8 percent and below the five-year December average by 1.4 percent.
  • Listing activity. There were 557 new listings added in December, 11.7 percent less than last December’s mark. The 1,569 active listings dip far below last December’s active listing total 1,799 (-12.8%).
  • Prices. The $410,056 median in December was 1.0 percent lower than last December’s median of $414,000. The average sales price in December was $519,650, a .9 percent increase over the December 2016 average of $515,130. The year-to-date median sales price was up 2.5 percent to $420,000 over the same time last year.
  • Price per Square Foot. The average price per square foot for homes sold in December went up 5.4 percent year-over-year, from $277 to $292.
  • Days-on-Market (DOM). Half of the homes sold in December were on the market 31 days or less, six days quicker than the median DOM in December 2016. The average DOM was 1 day quicker at 60 days.
  • Sales Price to Original List Price Ratios (SP to OLP). Sellers received 96.9 percent of original list price on average, up slightly from last December (96.1%). Half of December sellers received at least 97.7 percent oftheir original asking price, nearly the same ratio as in December 2016 (97.4%).
  • Months of Supply. The 1,569 active listings heading into January represent 1.5 months of supply given the average sales pace over the last twelve months, favoring the seller slightly more than the 1.7 months of supply last December. 

Washington, DC – (January 10, 2018) – The following analysis of the Montgomery County, MD housing market has been prepared for the Greater Capital Area Association of REALTORS® based on analysis of Bright MLS multiple listing data by MarketStats by ShowingTime.

November 2017 Washington, DC Market Trends Report

by Greater Capital Area Association of REALTORS®


Median sales price ties last year for highest November level 
on record for Washington, DC

November’s median sales price was $549,000, matching last year’s median exactly and tying the highest November level on record. The 710 November sales represented a 5.8 percent increase versus last year and above the November 5-year average of 617. Even with the median sales price at record highs, supply is scarce with only 1.9 months of supply on hand. There was a 14.7 percent bump in contract activity compared to last November. The 755 overall new pending sales topped the five-year November average by 10.3 percent. Closed sales were down in detached, but up in the townhouse and condo segments compared to last November. Half the homes sold in November were on the market for 13 days or less and the competition among buyers kept the median percent of asking price at 100 percent.

  • Closed sales. The 710 November sales represented a 5.8 percent increase versus last year and above the November 5-year average of 617. The 8,507 cumulative year-to-date sales are 8.3 percent more than the number sold through November of last year.
  • Contract activity. There was a 14.7 percent bump in contract activity compared to last November. The 755 overall new pending sales topped the five-year November average by 10.3 percent.
  • Listing activity. The number of new listings increased 4.6 percent compared to last November. The 880 new listings is significantly above the five-year November average.
  • Inventory. The 1,433 active listings at month’s end are 7.5 percent more than at the same point last year.
  •  Months of Supply. Supply remains scarce relative to demand, continuing to drive a strong seller’s market in the District. The 1,433 active listings represent just 1.9 months of supply.
  • Prices. November’s median sales price was $549,000, matching last year’s median exactly and tying the highest November level on record.
  • Days on Market (DOM). Half the homes sold in November were on the market 13 days or less prior to contract, four days quicker than in November 2016.
  • Sales Price to Original List Price Ratios (SP to OLP). Half the sellers received 100.0 percent of original list price or less, virtually the same as last November (99.9 percent).


Washington, DC – (December 11, 2017) – The following analysis of the Washington, DC housing market has been prepared for the Greater Capital Area Association of REALTORS® based on analysis of Bright MLS multiple listing data by MarketStats by ShowingTime.

November 2017 Montgomery County Market Trends Report

by Greater Capital Area Association of REALTORS®


Median sales price up slightly as median days on 
market quickens in Montgomery County

November’s tally of 934 closed sales dipped below last year’s level by 1.8 percent and below the five-year November average by 11.4 percent. The 942 new pending sales marked a .8 percent dip from last November and fell below the five-year November average by 1.1 percent, or 11 contracts. There were 869 new listings added in November, 3.9 percent less than last November’s mark. The 2,052 active listings dip far below last November’s active listing total 2,314 (-11.3%). The 2,052 active listings heading into December represent 2.0 months of supply given the average sales pace over the last twelve months, favoring the seller slightly more than the 2.2 months of supply last November. Half of the homes sold in November were on the market 25 days or less, three days quicker than the
median DOM in November 2016. The $425,500 median in November was 7.2 percent higher than last November’s median of $397,000. Closed sales rose in the detached segment while dipping in the townhouse and condo/co-op segments.

  • Contract activity. The 942 new pending sales marked a .8 percent dip from last November and fell below the five-year November average by 1.1 percent, or 11 contracts.
  • Closed sales. November’s tally of 934 closed sales dipped below last year’s level by 1.8 percent and below the five-year November average by 11.4 percent.
  • Listing activity. There were 869 new listings added in November, 3.9 percent less than last November’s mark. The 2,052 active listings dip far below last November’s active listing total 2,314 (-11.3%).
  • Prices. The $425,500 median in November was 7.2 percent higher than last November’s median of $397,000. The average sales price in November was $539,771, a 10.8 percent increase over the November 2016 average of $487,387.
  • Price per Square Foot. The average price per square foot for homes sold in November went up 6.6 percent year-over-year, from $272 to $290.
  • Days-on-Market (DOM). Half of the homes sold in November were on the market 25 days or less, three days quicker than the median DOM in November 2016. The average DOM was 10 days quicker at 49 days.
  • Sales Price to Original List Price Ratios (SP to OLP). Sellers received 97.1 percent of original list price on average, up slightly from last November. Half of November sellers received at least 98.1 percent of their original asking price, a slight increase compared to November 2016.
  • Months of Supply. The 2,052 active listings heading into December represent 2.0 months of supply given the average sales pace over the last twelve months, favoring the seller slightly more than the 2.2 months of supply last November. 

Washington, DC – (December 11, 2017) – The following analysis of the Montgomery County, MD housing markethas been prepared for the Greater Capital Area Association of REALTORS® based on analysis of Bright MLS multiplelisting data by MarketStats by ShowingTime.

October 2017 Montgomery County Market Trends Report

by Greater Capital Area Association of REALTORS®



Closed sales dip below last year but beat five-year October average

October’s tally of 985 closed sales dipped below last year’s level (which was the ten-year high for October) by 1.7 percent but was 4.2 percent higher than the five-year October average. There were 1,287 new listings added in October, .5 percent more than last October’s mark. The 2,526 active listings dipped below last October’s active listing total 2,717 (-7.1%). The 1,133 new pending sales marked a .5 percent bump from last October and beat the five-year October average by 2.4 percent, or 27 contracts. The 2,526 active listings heading into August represent 2.4 months of supply given the average sales pace over the last twelve months, favoring the seller slightly more than the 2.6 months of supply last October. Half of the homes sold in October were on the market 20 days or less, eight days quicker than the median DOM in October 2016. The $398,000 median in October was 1.4 percent lower than
last October’s median of $403,488. Closed sales rose in the townhouse and condo segments while dipping in the detached segment.

  • Contract activity. The 1,133 new pending sales marked a .5 percent bump from last October and beat the five-year October average by 2.4 percent, or 27 contracts.
  • Closed sales. October’s tally of 985 closed sales dipped below last year’s level (which was the ten-year high for October) by 1.7 percent but was 4.2 percent higher than the five-year October average.
  • Listing activity. There were 1,287 new listings added in October, .5 percent more than last October’s mark. The 2,526 active listings dip below last October’s active listing total 2,717 (-7.1%).
  • Prices. The $398,000 median in October was 1.4 percent lower than last October’s median of $403,488. The average sales price in October was $492,354, a .3 percent increase over the October 2016 average of $490,665.
  • Price per Square Foot. The average price per square foot for homes sold in October went up .7 percent year-over-year, from $279 to $281.
  • Days-on-Market (DOM). Half of the homes sold in October were on the market 20 days or less, eight days quicker than the median DOM in October 2016. The average DOM was nine days quicker at 46 days.
  • Sales Price to Original List Price Ratios (SP to OLP). Sellers received 97.7 percent of original list price on average, nearly the same as last October. Half of October sellers received at least 98.3 percent of their original asking price, up from 97.8 percent in October 2016.
  • Months of Supply. The 2,526 active listings heading into November represent 2.4 months of supply given the average sales pace over the last 12 months, favoring the seller slightly more than the 2.6 months of supply last October. 

Washington, DC – (November 10, 2017) – The following analysis of the Montgomery County, MD housing market has been prepared for the Greater Capital Area Association of REALTORS® based on analysis of Bright MLS multiple listing data by MarketStats by ShowingTime.

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Photo of Phyllis Wiesenfelder Real Estate
Phyllis Wiesenfelder
Long & Foster Real Estate, Inc.
4650 East West Highway
Bethesda MD 20814
Direct: (301)215-6915
Mobile: (301)529-3896
Fax: Office: 301-907-7600