Bethesda's Tastee Diner

After a 30 year hiatus I am beginning to feel my way around the Woodmont area of Bethesda where my new Keller Williams office  is located. As it happens my office window overlooks the Tastee Diner, a B-town fixture for all of my life. Long, long ago, I used to live in a group house of young singles on Madison St. behind Suburban Hospital. Bethesda was a simpler place then as it has not undergone the massive redevelopment that the metro station brought. Although there were plenty of decent places to eat in Bethesda, most were not the upscale trendy eateries that you find today. Prices were a lot more reasonable too. Most of the time the Tastee Diner was our eatery of choice. It was gritty and cheap with a lot of local flavor. Usually after our regular weekly all night poker game the winner would treat the less fortunate to breakfast at the diner. I think every American should spend some time in an old fashioned diner at three AM in the morning.

Yesterday I took a walk, mainly to check out restaurants in the area and to get a bite to eat. There really are a lot of decent places to choose from and the variety of food is greater than you would find when I lived in Bethesda. I ended up back at my office and saw that they were advertising beef stew as a special at the diner. So, I went in and had lunch there. I had not been inside the dinner in three decades.  Amazingly, it has not really changed. In today's dinning world of tapis bars and  sleek chrome, the dinner is a throwback to the 1940s. I expected it to have been modernized at some time but it still the same. The floor is the same arts and crafts colored tile that was there in the 1970 and there is an amazing amount of lovely wood trim. I felt right at home and enjoyed a cup of  coffee and some good stew.

Well, what do you know. I have rediscovered an old friend and it is only steps away from my office door. Go to Bethesda and eat at the Tastee Diner. Have a cup of coffee and some pie. Soak it up, and for those of you who remember what Bethesda looked like 40 years ago, savor the moment and get a little nostalgic.

Some Important Changes for GLBT Homeowners

A reminder to the gay community in Maryland that when marriage for GLBT partners becomes legal as of January 1, 2013 there are important considerations for  homeowners. Before January 1, 2013 gay couples could only take title to real property in Maryland as "joint tenants" or "tenants in common."   Prior to the new legislation only legally married couples (heterosexual) could take title to property as "tenants by the entirety." When the new law comes into effect, all legally married gay couples (no matter in which state they were legally married) can now take title to property in Maryland as "tenants by the entirety."  I will not discuss the ramifications as I am not an attorney, but in general tenants by the entirety tends to offer more legal protection to married couples than either other form of ownership. So, if you own property as a couple in Maryland, I advise you to contact an attorney who has knowledge of real estate law for advice. The easiest choice is for you to contact the attorney that conducted your closing. If you choose to proceed, the attorney can usually make application to change the type of ownership on your title for a reasonable fee.

This right also exists for property owners in the District since gay marriage is legal there as well. Many GLBT couples that are married are unaware of this right, and still hold title to their homes as joint tenants in the District. I advise District homeowners to place a call to their attorney as well.

Unfortunately, these changes do not apply in Virginia as gay marriage is not yet legal there.

Round House-Ruined House?

Last year I posted a photo of one of my favorite homes in the Brookland neighborhood of DC. Although in poor condition, the home has always been a total charmer. Built in 1901 and designed by architect Edward Woltz, this home was bought last year by a local developer after it's long term owner passed away. A few weekends ago it was featured in the Washington Post and one has to admire the slick new home that they created out of it which is now on the market for $899,000.  Of course, this does not sit too well with me as the original charming historic home has been totally erased and will no longer be there for people to enjoy. I wonder what the DC government was thinking or doing when they allowed this remodeling to go on. It is a prime example of a developer taking a fantastic historical property and significantly alter the character of the home in order to monetize the property. Well, there you have it. The home is still mostly round but everything that was original about the property is gone. The original layout, interior, windows-you name it, is no longer there.

In order to make the home larger and  more palatable to the high end buyers now relocating to the District the developers put a hideous addition on the rear of the home that has destroyed the ascetic beauty of what was a totally round home. Don't get me wrong, this is a nice modern home and somebody is bound to jump on it. The Brookland neighborhood just like most of the District is a very hot market. However, whoever buys this home will never have the satisfaction of owning a real historic property. That home is gone forever and it just make me sad.

Post Election Notes

I am not really going to write about real estate today but just wanted to comment on the election and what I saw in Silver Spring this past Tuesday. Last year we went downtown to have dinner and noticed that you could vote early there. Since there were no lines, we just jumped in and voted. It was such a breeze that we decided we would go back downtown this year and vote early. To our surprise, the early voting line was very large and we decided to skip early voting since our own polling station in Hillandale has never had very large lines in the past. We had a nice dinner at Thai Derm and never gave early voting another thought.

However, on Tuesday when we went to vote, the line was incredibly long. Longer than any line I have ever seen at a polling place. (That covers a lot of elections) Well the wait was not too long and most people were in a very good mood so it was not much of a bother. It was nice to see everyone there. Apparently a lot of folks in our area thought that the issues were important enough for them to get out and vote this year. I was also pleased to see the amazing diversity of the people standing in line to vote. It seems like every ethnic and age group was well represented this year. Sometimes in the past our polling places was very quite and it seemed like the only people voting were elderly-but not this time. Anyways, it was great to see and made me feel a whole lot better about our political process.

As for real estate. With the elections behind us, look for a steadily improving market in 2013. There, you heard it here first.

Sitting the fence?

Let's admit it. We Realtors are the eternal optimists and it would seem that by reading our marketing material that it is "always" a good time to buy a home. Well here is the honest truth, it is sometimes not a good time to buy a home and  Realtors are not necessarily the most reliable source about this subject. However, I can say that most of the time it is a good time to buy a home and as a long term investment owning your own home is usually the best investment you will make over the course of your life. Right now is really a fine time to think about getting off the fence and buying a home. Here are my reasons.

• We have seen home values bottom out and they are now back on the rise. This especially holds true in Montgomery County and the District.
• Interest rates are not going to "ever" go lower. They just can't go lower and in my almost three decades as a Realtor, I have never seen rates this low. Low rates mean monthly payment that are as cheap or lower than  paying rent.
• We are already seeing a shift from a buyers market to a sellers market. There is currently a shortage of inventory in many areas. Expect that to get worse after the elections are over.
• Rents are steadily going up. Does it really make sense to help pay off someone else's mortgage. That is what tenants do.
• Be the master of your own domain. Surely you must be getting tired of moving. The average tenant stays in a place about two years. The average homeowner in this area stays put for about seven years.

 So now you have it. Probably not for the first time either. If you want to buy a home, now is the time. Wait if you want but I assure you that the costs for you will be higher if you delay. Drop me a line if you have some questions about this. I am always willing to talk.

Salvation comes to Colesville

When you think of fine dining, Colesville does not come to mind that often. The whole New Hampshire Avenue strip from the beltway out to Cloverly leaves much to be desired as far as good eats go. When we moved to Hillandale 25 years ago it was so bad that we were unable to get pizza delivery to our home. With the passing of time and the addition of the FDA White Oak campus the availability of eating choices has improved but that does not mean that the situation is that great. Your choices seem to range from the good, the bad and the ugly and most recent additions tend to be franchises and fast food restaurants. There are a few exceptions-usually ethnic restaurants. Most of the better new restaurants are located close-in, around the White Oak and Hillandale shopping centers. However, there is a great new Mexican Restaurant located in the lowly Colesville Shopping Center at the intersection of Randolph Rd. and New Hampshire Ave.

I discovered Pollo Mex about four months ago although they have been in their location for about a year. They are in a store front that has seen a few failed eateries come and go over the past decade but I think this one is a keeper and will be there to stay for a while. There are plenty of Hispanic restaurants in the area but not so many in Colesville. But it is not just the Hispanic menu that is drawing crowds but the excellent quality of the food and service to be found there. The place is a notch about the competition both in ambiance and taste. The staff is incredibly friendly and helpful-mostly because it is the new owners waiting tables. Service is slower than you would expect but that is fine when you are getting the right service and food.

My favorite menu item is the Mexican Tacos made with pork, and fresh red onions. Marinated in lime juice and coming with three types of sauce, these things are just heaven. It is not on the menu but if you ask they will make you fresh lemonade or limeade, served without ice. Don't be bashful about asking them to make it for you. It is worth it. You had better give this place a try soon. It is getting noticed and the crowds are starting to get large.

Sears Catalog Homes

This home is located in my old neighborhood of North Woodside. I always admired this cedar sided home and was surprised to find out that it was a Sear's Kit Home. Usually, Sear's homes in Silver Spring look more like bungalows and this is one of the only examples of this type that I know of in this area. When I lived in North Woodside over 25 years ago the home was run down and in need of repairs. But it has since been lovingly restored and shines like a jewel.

There are quite a few Sears homes in this neighborhood. Sears catalog homes are found in many neighborhood in our area. The homes were usually ordered directly from Sears and the home plans and all of the parts were shipped by rail. For this reason most Sears homes are found near a railroad line. You can find them in towns such as Takoma Park, Hyattsville and Rockville as well as Silver Spring and the District of Columbia. It was not unusual for the buyer to construct the home on their own but most purchasers hired a local contractor to put the home up for them. The homes are unusually well built and durable. Most are all wood construction but Sears did sell a variety of homes including some high end homes that featured brick and stone.

Is your home a Sears home? You can go the the Sears Archives and check out the various models and years that they were offered for sale. However, you have to be careful as there were other stores offering catalog homes in competition to Sears. JC Penny and Montgomery Wards also sold home but not as many and not for as many years as Sears. Many of these homes were very similar to those sold by Sears.

Oh, almost forgot. In the catalog this home was called The Cedars and sold for $2236.00

Silver Spring's 4th Annual Zombie Walk

This past Saturday night (October 27) we went to downtown Silver Spring to visit our favorite restaurant Thai Derm and to check out the annual Zombie Walk. It really is a blast and the event has grown exponentially over the past four years. It is a grass root event but a lot of the local merchants are beginning to buy into it. Even the AFI Silver hosted some great spooky films. Well, we had a great time checking out the multitude of zombies parading around the downtown area. Some of the costumes were just brilliant-including a few interesting pet zombies. If you have never been there you should put this event on your calendar for next year. It is a kid friendly event until 9 PM and there were lots of kids there in costume. After 9 PM it becomes an adult only event and kid zombies have to be put back in their cages for the rest of the evening.

This great event put me in a mind to compare downtown Bethesda to downtown Silver Spring. Both downtown areas are great and exciting places to spend time these days but it just seems to me that the crowds in Silver Spring are more relaxed and like to have more fun. One need only to walk past the fountain on Saturday night to see the incredibly diverse crowd of kids and adults dancing  together to some great hip hop/cha cha music. Well, I have said if before, downtown Silver Spring Rocks. I am glad that we can be a part of it.

What Buyers Want

It is hard to say where the market is going these days in this area. One thing I know, is that we currently have a shortage of good listings. There are still plenty of short sales and distressed homes coming on the market but what is missing is an inventory of homes that show well. Buyers are out there in droves. There has been a lot of pent up demand built up over the past few years. The strong local economy combined with  mortgage interest rates that are so low that it is obscene has generated a large pool of folks wanting to buy a home. However, with the recent recession under their belt many young buyers are choosing to be very picky about the homes they look at. We are not seeing the rush to plop down good money on just anything that comes on the market. Most buyers who are not investors want more bang for their buck when considering a home purchase. I would have to say that one of the biggest factors is the age of the kitchen. New or refurbished kitchens are in high demand with new bathrooms being a close second. If you are selling a home with a 20-30 year old kitchen  then you are going to have to be patient and price it correctly. There are two factors driving home sales these days- product and price. Exposure is not necessarily the issue. Any good Real Estate Company is going to get your home exposed on the Internet. But if your product (home) is not in top shape then your only choice is to consider the asking price. You must measure what the competition has to offer and act accordingly. I realize that this is not rocket science. But many sellers are having a hard time adjusting to the realities of the market. Yes, we are in a competitive market with hungry buyers. However, the buyers out there are looking for value and passing up on the average or the overpriced. They are limiting their choices to homes that are in exceptional condition and/or have an attractive low price.

Shotgun Shack?

Many of you who regularly drive on Jones Bridge Rd. in Bethesda are familiar with this home. For thirty years I have driven by the home and wondered about it. It seems so out of place in Bethesda where so many of the homes are upscale. There is a history to this home and the neighboring community that I will perhaps write about at a later date. The question for today is exactly what style of home is it? I have been doing some research but have come up with a few style descriptions that this home might fall under. I kind of think it is a two level "shotgun" style home.  Shotgun homes are more typically found in the South and generally consist of one level only. However, I did find a few examples of two level shotgun homes. If you want to see some great examples do a search for images of  shotgun homes in New Orleans. You can get a good idea of what the style is like from the many examples found in that city. The most important thing in defining a shotgun home is that there are typically no hallways. The houses lead from front to back and one room (generally the living room first) leads directly into the next, usually through a single door.

I asked my friend Gordon Bock, the former editor of  "Old House Journal" and author of a few books on renovating historic properties, and he was not sure if it is a true shotgun house. However, Gordon admitted that he was not sure which style the home could be classified under as well. How about you? Want to take a stab at it. I would be interested to hear your comments and opinions about this home.

Move to Keller Williams Capital Properties

Hey all,

I have been away from this blog for a while. Primarily because I have made a move from my old company to Keller Williams Capital Properties in Bethesda. My new company is so appealing and exciting. The model is completely different from the old "brick and mortar" institution that I have work with for so many years, and I am convinced that the training and support  the company offers will help me move into the next age of real estate. As for you my clients and prospects the change will not be so dramatic in that the things that I have done and know to work over my 28 year career are moving with me. However, Keller William's culture will allow me to offer my customers and clients a more modern bent on their real estate transactions. There is a a lot for me to learn but I look forward to it with excitement.

Capitol View Park-Not sure about this one.

I was driving on Metropolitan Avenue in historic Capitol View Park the other day and noticed that somebody had built this contemporary home there in the past few months. I sort of like modern design in homes but this one just does not do it for me. I question whether it is just ugly or just out of place in Capitol View. To me, something is just not right about it. What do you think?

There are a number of Goodman contemporary homes in the area. My neighborhood (Hillandale) has some and you can find them sprinkled all over the region. Charles Goodman was a famous local architect who rejected the notion of the typical brick colonial and cape homes found in the area and built instead affordable cutting edges modernistic homes using a great deal of wood and glass. Two decades ago his style was not very popular and it was tough to sell his homes. Most were not very energy efficient. But now there has been a resurgence in appreciation for his homes and any Realtor worth his/her salt will make sure the Goodman name is very well publicized when selling a Goodman home.

Tough sell?

I really like old Hyattsville. That is the actual city of Hyattsville located on Route 1 just south of College Park.With its mix of lovely (and affordable) arts and crafts bungalows dating from the 1920's, I have always considered it a great place to own a home. I was showing homes there this spring when I ran across this particular home (with complementary cars) and did a double take. I had to go back and get some photos.

The home belongs to  Clarke Bedford, a local artist and curator at the Hirshorn Museum and this is actually where he lives. I wonder what his neighbors think of what he did to the place and I can't help but think of what I would do if I ever had to sell this home. It would be an interesting marketing exercise. Anyhow, if you want to see for yourself the home is located on Nicholson Street within the city limits and is very easy to find.

Barry's Magic Shop-RIP

I read in today's Washington Post that long time downtown Wheaton instution Barry's Magic Shop is closing its doors after 38 years. It is a bit anticlimatic as the store's long term location on Georgia Ave was taken by the county a few years back-forcing the shop to locate to Rockville. Still those who know and love Wheaton will remember the shop well. I have stopped in a few times over the years ant the place was quaint and friendly. I still have my "foolbox" which I pull out at family gatherings to mystify the current generation of nieces and nephews with. I bought my first box at Barrys over two decades ago.

It is great to see tired old Wheaton get a face lift but I worry that so many of the quirky old stores and fine family owned ethnic restaurants that I have known for years will be phased out in favor of franchise "fat palaces" and more upscale stores. It seems to be the cost of progress when an area goes upscale. Rents go up too and many old timers get priced out of the market.

Condo Buyers Need to Beware

I am getting a lot of calls lately from first time buyers looking to buy condos. Primarily because so many people are priced out of the market for single family homes and townhouses. With the lower prices these days there seem to be a lot of good condo deals on the market these days. However, all is not as it seems and I caution  prospective condo purchasers to be careful. Right now, I can think of three problems associated with condos that are popping up and making it very hard to get loans to purchase or for sellers to sell.

Non owner occupancy. There has been a flood of investors snapping up condos for cheap. They are mostly all cash buyers looking for attractive short sales or bank owned properties. In the past many of these investors were rehabbing and flipping the homes-which is a good thing. However, with the low costs of units and cheap financing many are buying condos in order to hold and rent them out. Typically, rental properties get less care than owner occupied properties and if there are too many rental units in a condo development then it becomes very difficult to obtain financing for prospective buyers who are looking to use FHA or minimum down conforming loans. Currently FHA guidelines allow no more than 50% of the homes in a condo project to be non-owner occupied, and a lot of projects are failing to make the grade and losing FHA approval.

Delinquent condo association payments. FHA refused to approve a project where more than 15 per cent of the units are 30 days or more behind on the payment of condo fees to the association. With the state of the economy this is a growing problem as many condo projects are now falling above this level.

Condo projects that are entering a new maintenance cycle. During the last boom in the late 1980's many apartments were rehabbed and converted into condos. These units are now entering into a 25 year cycle where key upgrades and repairs are needed. Things such as expensive new window or roofs or parking lot repaving come at about this stage. These major repairs cost big money and a lot of condo projects have underfunded reserve funds and just do not have the money on hand to pay for this work. When this happens it usually means that special assessments are passed on to the current unit owners and these generally are added to the monthly condo fees. I am seeing some units in the area where the monthly fees are topping $1,000 per month. When faced with the reality of this tough market many sellers have to cough up the full balance for these assessment at settlement. Smart buyers are checking and passing up on projects have a history of passing large assessments to the owners.

This does not mean that all condos are a bad buy, and certainly there are some very nice condos in the area. However buyers need to be very careful when looking at that condo "deal' in today's market. The best bet are newer condos or units that have been recently rehabbed and converted. In this case, FHA financing is usually readily available and you are pretty sure that you will have at least two decades before serious physical upgrades are needed. I really like some of the condo conversions that I am seeing in the District these days. Some really fine older buildings with modern units inside. A nice mix in my opinion. 

Sailabration comes to Baltimore's harbor.

Over a decade ago, Baltimore hosted the "Tall Ships" exhibition in Baltimore Harbor. My wife and I went up to Baltimore and using the excellent water taxi service and an all day pass, spent a day visiting some just incredible old sailing ships. My only regret is that we did not get to see more than a half dozen of the many ships that were visiting Baltimore at that time. Well, another chance has come and I plan on making the most of it. As part of the three years of events commemorating the War of 1812 (Why they want to celebrate a war where we pretty much got kicked around a lot-I just don' know. But there you have it.) the tall ships are coming back. I highly suggest you put it down on your calendar and make a point of going up to "charm city:" for a visit. 

The event is scheduled to take place between June 13th and 19th of this year and so far there are about 30 various ships committed to the event. Some are modern naval vessels but there will be a lot of beautiful tall ships to see as well. And, it is all free. Yes, you will probably want to buy a water taxi pass and of course will blow some coin on food, however, there is no charge to go onto any of the ships. You just can't beat that. 

I am surprised how many Washingtonians do not spend much time in Baltimore. A wonderful town that is as different from DC as any city can be. It is worth a visit to the harbor and I for one will be at the Sailabration. Don't miss it. Check out the schedule as some ships will be in town longer and if you can't make the dates you still might want to check out Baltimore around that time.

Streamlined Short Sale Process

I read a good article recently in the Christian Science Monitor about how banks are doing a better job of working with homeowners to streamline the short sale process. This has been very noticeable in my office as some banks (did somebody say Bank of America) have really changed course in the past few months over this matter. It does depend on the bank but almost all of them have moved towards speeding up the process. Basically, a short sale is where the bank allows a property in distress to be sold for less than the note owned on the property. Usually, the bank just eats the loss (but not always). You might wonder why any bank would do this. The reason is simple. You might not believe it but it is cheaper for the bank to allow a short sale than it is for them to foreclose on a property. It seems like a lot of banks had trouble accepting this but now after five years into a poor real estate market most have now seen the light.

Don't be afraid or embarrassed to ask your lender to let you sell your home short. Millions of American homeowners have done it and it is not a bad way to get out from under a house payment that is wrecking your life. Remember, that you are going to have to prove that your are under a hardships, so you will have to be prepared to write some letters and provide financial information to back up your claim. But in the end, selling your home short is much better than ignoring the problem and allowing it to go to foreclosure.

Maryland homeowners beware! Homestead application deadline is coming.

If you own and occupy a home in Maryland, then you are probably eligible for a Maryland Homestead Exemption. This program designed for owner occupants and may cut your annual property taxes by 30% or more. The problem is that since 2007 what was once applied automatically is no longer the case. To get this exemption the homeowner has to make a one time application to tte Department of Taxation and the final deadline to do so is December 31st of this year. Most homeowners have already done so and you can check to see if you have the exemption by going to this site and pulling up your tax records by address. If you have already applied for the exemption then it will show up at the very bottom of you tax record. If it does not show up then you will need to make application before the deadline. If you own and live in a home in Maryland it is time to check...

One of the biggest shocks to home purchasers in the state of Maryland is the difference between the taxes currently being paid on the property and the increase in the new tax bill when the purchasers take title. This is usually due to the fact that the seller of the home has taken advantage of the tax credit. New homeowners may apply for the homestead exemption at the time of their settlement but will not be eligible for the homestead exemption until they have resided in the property for one calendar year, and will not see the credits appear on their tax bill until the following year.

Bear in mind the the homestead exemption is different from the Maryland Homeowners Property Tax Credit Program which is designed to give tax relief to households that meet certain low income requirements.

To Pad or not to Pad. That is the question.

I have been on the verge of taking the Pad plunge as of late but a very good article today in the Washington Post (Yes little Timmy, reading the newspaper is sill a good thing.) has made me rethink the issue. They have been pushing the new IPad and cell phones with the new 4G network hookup like crazy these days but apparently it may not be such a good deal for the average consumer. Apparently these super fast networks come at a cost in that they are monster bandwidth hogs. Many experts think that with the explosion of on line demand for streaming video and music that the existing system just will not be able to handle the load. As a result virtually no cell phone companies is offering unlimited data downloads anymore and the costs for watching high data content is rapidly going beyond the reach of the average consumer's checkbook. So, do I really need a new IPad with super 4G if I am not willing to lay out the dough to pay for the data?

One thing they noted, they do make an IPad that can only utilize local wireless access and does not use the 4G network at all. This is probably the best option for me. But that begs the question. What real value does the super high resolution then have if you can make use that screaming fast hookup? Dunno really, but I do know that I want one of those things.

This Just in, The Recession is over!

This past Sunday I took a new listing in Elkridge, Maryland. It is a nice house in great shape and is priced around $450,000. Within a half hour of entering the home in the computer, I got a call from a fellow agent to show the house and she delivered an offer to me that evening. In 25 years this may be the fastest that I have ever seen an offer come in on a listing of mine. And this seems to be happening on a lot of homes. The housing market in the Metro area is not just recovering but is "hot" and taking off. Purchasers have been flocking to open houses and I know for a fact that three new listings out of my office had multiple contracts presented this week after just going on the market. Only three months ago agents were crying about how nobody was showing their listings. Now, just a few months later my fellow agents are crying about the shortage of suitable houses to show their clients! It has been that way in Montgomery County for about a month now and I am seeing this market activity expand out to Howard, and Frederick Counties in the past two weeks or so. The DC market is a little different as it has been very hot since the middle of last year.

Well, I am a bit cautious as I know that there are still things that have to be sorted out in Europe and many parts of the US still have an oversupply of homes on the market. In addition, we still have good number of distressed homes that will come on the market both in the region and nationwide. However, the expanding market is to me a refection in a resurgence of consumer confidence. I firmly believe that where the housing market goes the economy will follow. Right now it looks pretty darn good to me and this is the first time in over four years that I can say that. Let's see how this plays out.

Underwater on your loan? Bank of American customers might get some help.

This kind of passed under the radar last week but if you have a underwater home loan mortgage with Bank of America. (including old Countrywide Mortgage loans) you may want to give them a call to see if you are eligible for some help. You could potentially have your loan balanced reduced by thousands of dollars. Bank of America is not doing this out of charity but in the hopes of reducing the penalties it owes to the government under the big settlement announced previously. So far, BOA is the only bank to be doing this but they hold a lot of loans in the Washington area and this could come as relief to some homeowners in the area who purchased their home at the height of the bubble. For more information on this see this article.

Speaking of mortgages, I think one of the key reasons that the economy is starting to work again is that consumer spending is up. One of the reasons is that many home owners are refinancing due to the amazingly low rates being offered today. I have been in real estate for over 25 years and never thought I would see interest rates so low. (I recall they were 17% when I bought my first home in 1982) The savings in monthly payments for the average five year old home loan can be quite a bonus, and this is freeing up extra money in households for people to spend on consumer items. Overall this is good for the economy as our economy is driven by consumer spending more than anything else.

If you are sitting on an older loan it might be a good idea to talk to your lender about refinancing. You may cut your monthly mortgage expense by hundreds of dollars by refinancing now. I can't imagine rates going any lower than they are now, so better look into it.

DC Renaissance

I was downtown showing properties this week. It has been a while but I like going into the district to show homes. I prefer the older homes and there is so much variety in DC. If you do not go downtown or have not been lately then you have to take a trip downtown and see what is happening. In a time of a nationwide weak housing market the DC market has to be one of the strongest in the nation. And it shows. Take a drive down 14th street and you won't believe your eyes. For all my life the 14th street corridor has been the poster child for urban decay. It was a scary place to go at anytime of the day. However, in the last half decade this corridor has become one of the hottest places to live and work in DC. It is great to see the change and a fun place to be.

Biggest surprise for me is the Brightwood and Shepherd Park area which has always been a nice place to live but just a little dog eared. I liked the area for its affordable homes and diverse community. But I would never have termed it as a "hot" place to buy. Now that is changing. Brightwood and Shepherd Park have a lot of great older homes-built between the wars. If you like craftsman style homes this is one place to look. But prices are going up. What I did not know about were the number of stunning art deco apartment houses that are in this area. Now there is a real push among developers to take these amazing small apartment buildings and convert them to condos. For the most part I like what I see as there is a real effort to maintain the lovely historical features of the buildings while offering state of the art living spaces.

I would not say that prices are cheap but compared to the rest of Washington, this is the place to look if you want a nice affordable condo in a great location. There in nothing more beautiful than Washington's deco and post deco style building and this is the place to see them.

The building pictured above is a small coop located on Kennedy Street near Carter Baron.

The Cowboy Junkies at Rams Head

I know this is supposed to be sort of a real estate blog but it "is" my blog and there should be some room for me to ramble about other subjects. So here I go again. Last night we went up to the Ram's Head Tavern in Annapolis to see one of my favorite bands "The Cowboy Junkies." TCB is from Canada (I won't hold that against them) and it is the first time that I have seen them live. I was pretty excited about the prospect. I just don't know why this under-loved band has not gotten a better following over the years. Their music has always been very highly regarded in musical circles. Anyway, I suppose that in this case it worked to my benefit as the Ram's Head only holds about 200 patrons and Elizabeth and I were only about 20 feet away from the action.

I have to admit that I really do not go to clubs much these days. Typically the food is average at best and small intimate clubs usually mean small uncomfortable chairs in very tight quarters. The Ram's Head did not disappoint us in this case and I found myself having to get up once in a while to give my aching back a break. However, the pain was worth it as clubs are where you have to go if you really want a up close and personal experience with the artists and the Junkies gave a warm and friendly show. The experience is so much richer than you would get if you saw them at a concert hall.

Comfort aside, I would certainly recommend the Ram's Head for a musical evening out. Best to make reservations to dine there early as the tavern fare is much better than the "nacho" level crud that the serve during the performances. I am sort of surprised that I have never been there before. If you are not familiar with The Cowboy Junkies them I highly recommend you check them out on You Tube or Spotify. You won't regret it.


Check them out here

National Zoo

Went to the zoo last week. It has been a while and we took the opportunity of a beautiful, warm February day to sneak down for a few hours in the late afternoon. We thought we would have the whole place to ourselves but as it turns out it was, well, at total zoo. If you like strollers then this was the place to be. It is amazing the stroller culture in the US. Man, some people blow a wad of money on strollers these days. Most interesting to me is the number of older kids who really had no business being pushed around in strollers. These kids are big enough to be running around and really could use the exercise in my opinion. I really think it is a control issue. It is easier for parents to schlep their older kids around in strollers and keep tabs on them. But really now, five year old kids in strollers?

But I digress. The zoo as always is amazing. They have really been pumping some money into the place over the last few years. Biggest improvement is the new "Asia Trail" which is quite nice and fun. Lots of cool animals to see including my favorite, the "Maned Wolf" from Asia. The best kept secret and our favorite place of all is the Invertebrate House located behind and underneath the Small Mammal House. Never a crowd there and lot of cool things going on. Our favorite is the Octopus feeding and the cuttle fish-whenever they have live cuttlefish. Apparently these highly developed invertebrates actually do not live very long (two to three years) and there are periods where they do not have them. However, when they do it is well worth the time to visit the invertebrate house just to see them. Lots of spiders and cool bugs and things for kids to put their hands on.

If you have not been to the National Zoo in a while then put it on your list of places to go revisit. You will be glad you did.

Frank Lloyd Wright's Ennis House

I noticed this home for sale a few years ago and now see that it has sold. As a fan of everything FLW it pleases me to no end that this wonderful home has been purchased by someone who will restore it and act as a responsible custodian for years to come. See the full article from this past July in the Los Angeles Times

New Child Care Center comes to FDA White Oak

Employees at the FDA White Oak Campus will be pleased when the new child day care center operated by Children's Creative Learning Centers begins operation on January 30, 2012. CCLC is a private organization that runs over 100 centers nationwide. CCLC has an excellent reputation and the children's center at FDA/White Oak should be a good match and provide an attractive alternative for employees.

Where are the houses for sale?

A quick look at the listings for sale in the Silver Spring area shows a remarkable shortage of decent homes on the market. Interesting considering that this is considered a "buyers" market. A couple of reasons for this in my opinion. One is that rates are so low that the small amount of buyers out there are snapping up the small amount of decent homes on the market. And two, not only is there pent up demand these days but I think we are seeing a case of pent up supply. That is, with housing prices so depressed these days there simply a lot of potential home sellers who are delaying placing their homes on the market. This would include folks who have opted to retire a little later, thinking of buying up but are waiting for the market to improve, or who just refuse to sell and have placed their properties on the rental market for a year or two while waiting for some good news. There still are good deal of distressed properties on the market but a lot of folks are staying away from these homes because the sale can be problematical and very few of these homes are in what we call "market" condition.

What does this mean? Not really sure. However I think we might see home prices actually start to go up this spring. Not because of the booming economy but because the amazingly low rates combined with this shortage of decent homes might just create a supply problem and have buyers out there in competition with other buyers for a change. That generally means sellers will get better prices. We will just have to see how this plays out.

Montgomery County MD Rapid Transit Busways

Good news today in the Washington Post about the Rapid Transit Busway. This idea has been gaining momentum over the past two or three years as a solution to our traffic woes and alternative to the more expensive light rail systems that have been in play for some time now. After seeing a presentation on the advantages of busways, I personally think that there is very little reason to opt for light rail systems. The busways are cheaper to build and run and less disruptive to the communities that they run through in that they do not require as much construction time and lessen the need to condemn private property. These high speed bus lines will hopefully flow down the major arteries of the county and give commuters an alternative to driving. The attached photo is of the Busway located in Los Vegas so that you can get an idea of what it might look like.