Victorian Perfection, Down to a T

1509 T Street NW, Washington, DC 20009

Offered at $1,395,000

First Open House:  Sunday, September 2 from 1-4pm

Situated in the Greater U-Street Historic District (and simultaneously located within the boundaries of Dupont), this stately Victorian home resides in a thriving, ever-dynamic neighborhood on a tree-lined street within blocks of “everything”!

Feel the substance and grace of life in the 19th century while enjoying the ease and comforts of the 21st. The U-Street and 14th Street corridors offer everything from superb dining and night life, stylish shopping & health clubs to supermarkets, caffeine and other every-day needs.

In the home itself, a tiled foyer leads to a deep reception hall, offering a traditional yet semi-open floor plan with a bay-front living room, large dining room, coat closet, powder room and eat-in kitchen on the first floor. Access to the backyard and patio provide lovely flow for entertaining.

On the upper two floors, find a total of five gracious bedrooms and two full, renovated baths with ample closet space. The master bathroom features a jetted tub, dual vanities, a separate toilet enclosure and a separate shower. Gallery lighting on the third floor showcases your art work, and green vistas in all directions make for a tranquil atmosphere.

Radiator heat and two-zone central air conditioning guarantee comfort in all seasons. The unfinished basement offers ample storage along with a laundry room, a separate exit and lots of future potential. And with a parking space in back–secured by remote-controlled gate–you’ll never have to worry about coming home late.

For more information contact:

Catarina Bannier 202-487-7177 or Catarina@Compass.com
or
Marcie Sandalow 301-758-4894 or Marcie@Compass.com

Baby Boomer Bust?

One item that has been on our mind as of late is whether or not the looming exodus from the housing market (as baby boomers age) will create an over-supply of inventory that lowers home prices and stalls sales. Fannie Mae warns that demand from younger generations is insufficient to fill the void left by older departing owners. The result may be gluts in some marketplaces. A Fuller Institute study, which focuses on the DC region, concurs.

Demographic data makes the case. Baby boomers, born between 1946-1964 own 32-million homes, or 2 of every 5 in the country. These homeowners face some key choices: sell, stay put and age-in-place, downsize or rent.

Fannie Mae estimates that between 2016-2026 between 10.5 million and 11.9 million older homeowners will end their ownership status. Between 2026 and 2036 that group will add another 13.1 to 14.6 million. The implications of this massive unloading remain to be seen.

Not surprisingly, there are some detractors. Lawrence Yun, the chief economist for the NAR (National Association of Realtors) sees some positive developments underway which might offset the “sell-off”: strong population growth within the US and the rise of over-seas buyers.

But don’t panic, the sell-off hasn’t happened yet. A recent study from Harvard’s Joint Center for Housing Studies says that we’ve got at least 10 years before the glut kicks in. Many boomers are expecting to age-in-place which may well result in a robust remodeling boom.

Millennials (those born between 1985-2004) have recently surpassed Boomers as the largest generation (both around 74 million), though they’ve been slow to jump on the home buying bandwagon, largely due to affordability. They tend to prefer smaller homes closer to city centers. The areas most likely to be affected by the sell-off are the exurbs and rural areas, where demand will be slight.

Where is all of this going? Who the hell knows. But it’s good to be aware of the issue and consider strategies for your future self.

Articles of interest:

Washington Post

Realtor Magazine  

And another Realtor Magazine article

CityLab

 

The one that got away…

heart

There’s a saying in real estate: “The house you fell in love with today, thought about tonight, and decided to write an offer on tomorrow… someone else saw yesterday.” 

Finding the right house can be challenging. Really! Keeping track of the market, fine-tuning your wishlist, zeroing in on the pricing, etc. And while everything is slowly coming together, the perfect house might slip through your fingers. You’ll be okay.

Here’s what you can do:

  • Fine tune your wish list.  Figure out what is going to work for you, and what might be a deal killer.  Allow yourself a little flexibility. Nothing is going to be absolutely perfect.
  • Don’t assume sellers are going to be happy with a home sale contingency.  If the bank advises you to sell your current home before buying a new one, consider putting your current place on the market before shopping around.
  • Get your financial house in order.  Make sure you are approved for a bank loan before looking for a new house. Check in with your bank on a regular basis to see if they have made any changes. Maybe there’s a new loan program they’ve just introduced that will allow you to buy something otherwise out of your reach. Also, that new car you just bought on a whim? Might make it difficult to stretch. Keep a copy of your pre-approval letter on hand, and be sure to get an updated letter after 90 days.
  • Consider an Escalation Clause or a Pre-inspection. These important factors in multiple-bid situations. An escalation clause allows you to top the best offer up to a specific cap, which you determine. Pre-inspections allow you to eliminate a home inspection contingency and head into a competitive situation with your eyes wide open. Sellers love this.
  • Know the market. Your real estate agent will provide you with up-to-date info on comparable sales in the area. This will help you arrive at the right price and help set boundaries.
  • The most important advice is this: Be prepared to jump in and make an offer, especially if you like it! Good houses don’t stick around, at least not in this market.

More NEWS from the Chestnut Team!

4409 chestnut

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UNDER CONTRACT

If “Chestnut Street” rings a bell, or if you have a vague feeling you might have seen this before, that would be because this is our fifth (5th!!) listing on the same street this year. They all couldn’t be more different from one another, though. If not a coincidence, perhaps it’s serendipity (but we’re totally open to new streets!). This weekend, we’re presenting 4409 Chestnut St.

 Things we LOVE about this new listing near Downtown Bethesda:

  • The shady front porch with room for plants.
  • Wide living room, perfect for nights in with family and friends. (And a center fireplace that has a cast iron wood stove insert for extra cozy gatherings.)
  • Renovated kitchen!
  • Plenty of natural light in the dining room attached to the kitchen.
  • Den/TV room next to the dining room. And right next to that, a second bathroom with dual vanities and a jetted tub enclosure, with lots of light. 
  • Green views in all directions. The deck off the dining room is ideal for grilling, reading or watching fireflies.
  • Versatile basement: Tons of storage space, a laundry room and a bright in-law suite with full bath and second kitchen.
  • A workshop across the entire back of the house. Drywalled and insulated and ready to be turned into living space if needed. The possibilities are endless: a teenagers’ hangout, a hobby zone, a home office–or even just a garage!

East Bethesda combines the best of the suburbs with the amenities of big city living.  Medical Center and Bethesda metro stations are each about 0.8 miles away. The new Harris Teeter and hundreds of restaurants and shops are all within walking distance. East Bethesda has an active citizens association that plans events throughout the year, including the ever famous Halloween Parade.  Just a few short blocks away, Lynbrook Park is the neighborhood anchor with tennis courts, a playground, a baseball diamond and a gathering spot for dogs (and their people).

$799,000

3+ bedrooms, 3 full baths. 

California Dreaming in Bethesda

It doesn’t get much better! Come check out our favorite new listing:

UNDER CONTRACT

4304 Chestnut Street

Bethesda, MD 20814

Offered at $949,000

First Open House:  Sunday, July 15 from 1-4pm. 

Beautifully remodeled and expanded with an attention to detail throughout, this lovely home offers bright and inviting spaces for every aspect of modern living. The open floor plan allows in light and creates great flow for entertaining. Understated Arts & Crafts features make for a unified and distinctive charm. 

True one-floor living makes this home the perfect condo alternative for those that prefer to be surrounded by lush green gardens yet want to be close to the many urban amenities of downtown Bethesda. NIH Medical Center and Bethesda Metros are each within a mile. Lynbrook Park with a playground, tennis courts, baseball diamond and leafy splendor is just around the corner.  A plethora of dining and shopping options are all within walking distance. 

3 Bedrooms/2.5 Baths. 

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For more information, get in touch!

Marcie Sandalow 301-758-4894 or Marcie@Compass.com

Cati Bannier 202-487-7177 or Catarina@Compass.com

Rarely available 2BR/2FB at City Vista

SOLD FOR $832,500

Multiple offers

475 K Street NW, Unit 716, Washington, DC 20001

Offered at $799,000

First Open House- – Sunday, June 24 from 1-4pm. 

Here’s your rare opportunity to own one of the brightest flats in this landmark luxury “it” building.  At City Vista, sleek city style meets great amenities in a vibrant and convenient historic neighborhood. 

Walls of windows offer spectacular city views from the spacious 2-bedroom, 2-bath 7th floor corner unit. 

An open-concept living area with stainless/granite kitchen at the heart of the condo is framed by bedrooms on opposite sides for extra privacy. Brand new carpet in the bedrooms complements the freshly painted walls. Enjoy in-unit laundry, deeded garage parking and extra storage.  Step down for a coffee at Busboys and Poets in the morning, walk to your downtown office, come home for a swim in the rooftop pool at lunchtime, or watch the sunset from your west-facing balcony – this place truly has it all. A communal grill area and tables for rooftop dining against a spectacular setting, the beautifully designed party and community lounge, the residents’ library and private 1-acre interior park-like gardens make City Vista a truly exceptional place to call home. 

 

 

For more information, contact

Marcie Sandalow at 301-758-4894 or Marcie@Compass.com

or

Catarina Bannier at 202-487-7177 or Catarina@Compass.com

Wet Basement Blues?

The following article was penned (and used with permission) by Daniel Blum of Integrity Home Inspection Services  at 202-829-9099 or www.DanielGBlum.com. Most home inspectors offer professional diagnosis of a wet basement problem for a reduced fee, including Daniel. 

“Ground Water” vs. “Surface Water”: How To Tell Them Apart
-by Daniel Blum

Sometimes you notice an unmistakeable musty odor when you walk in the front door of a house. Maybe you’ll see white or black stains on the cinderblock walls of the basement. Or you’ll respond to a call from a desperate homeowner, whom you later find in the basement wearing boots ad holding a mop or wet-vac, trying to find a place to put all the storage boxes that used to be piled in the corner. In any case, you need an accurate diagnosis and a cure for a wet basement. 

If a house has a basement, cellar or crawl space below ground, chances are that sometime during the life of the house, water will seep in to these areas. If this happens rarely, it can be ignored or treated as an occasional nuisance. When water seeps into a basement frequently, it can cause tremendous cosmetic damage and ruin air quality by promoting mildew growth. In severe cases persistent water seepage may be associated with structural problems with the foundation or wood framing. Water in a crawlspace underneath a house can do a lot of damage to the structure above it, especially if the space is poorly ventilated. Unfortunately, underground water problems are one of the most misunderstood areas of home maintenance. The purpose of this article is to enable a non-expert to quickly distinguish the likely source of water seeping into a home, and to understand the appropriate remedies.

Virtually all water seepage problems are the result of “soil saturation”. Normally, underground soil is capable of absorbing water like a sponge. The soil is able to absorb more water until all its voids are filled up. At that point, any added water will build up in height and increase in pressure. This “hydrostatic pressure” then pushes the water through small cracks and pores in a wall surface. This is the mechanism for water seepage in any basement or crawlspace.

Most basement waterproofing companies promote one particular remedy in their sales pitch. The contractor will propose to break open the concrete and dig a trench around the perimeter of the basement floor. Water entering the basement is intercepted by gravel in the trench and carried to a trash-can size “sump crock” under the basement floor. A sump pump is installed in the crock to discharge the accumulating water to a safe location in the yard. New concrete is then added to conceal the trench. The resulting system is sometimes called an interior dewatering system, a perimeter drain, or a french drain.

The problem with this “one size fits all” approach to waterproofing is that it may result in a homeowner paying several thousand dollars more than they need to for unneccesary equipment, or for a solution that does not remedy their specific problem. A dewatering system is most suitable for correcting “ground water” problems, but according to local authorities, the majority of basement water problems in this area are due to “surface water.” To make matters worse, an uninformed homeowner may be persuaded sign a contract charging two or three times the going rate for this type of installation.

Ground water refers to clear water contained in underground lakes or streams, the same water that is tapped for wells. Surface water is rain and melting snow which falls in the yard near a house or which lands on the roof. While the distinction between the two is somewhat artificial, it is very practical to separate water problems into one of these two categories.

What normally happens to roof and yard runoff? When a house is built, the architect is supposed to locate the house higher than the surrounding street and yard. The builder is then supposed to create a combination of gentle hills and valleys which cause water to flow away from the house to the street or to a remote area. This is what is meant by “grading”. When it is done properly, only a small fraction of the little rain and snow will enter the soil next to the house. The ideal grading job will result in a tightly compacted clay-soil surface sloping consistently downhill away from the house for at least six feet in all directions. If roof gutters and downspouts are functioning properly and are extended far enough from the house, the roof water will run off safely as well. This combination of gutters and grading is essential to prevent excess water from soaking the soil around basements and crawl spaces.

Since most houses have gutters and grading, why are water problems so common? Usually because one or more of these surface water controls has been neglected or disrupted. Builders routinely do not compact their graded soil surfaces tightly enough. Then when landscapers plant shrubs next to a foundation, they reverse the slope of the ground around a house and deliberately loosen the soil, which totally defeats the grading. Gutters and downspouts routinely become clogged with leaves and debris from nearby trees, and downspouts discharge their water too close to the house. In these situations, a large concentration of water enters the soil very close to the foundation, promoting soil saturation.

When poor surface water controls are identified as the cause of a water problem, improving the grading and extending the downspouts will almost always eliminate or greatly reduce the problem. The cost for this type of remedy is usually much less than for a dewatering system, and it can be successfully accomplished by an able-bodied homeowner or yard work assistant.

By contrast, ground water is a semi-permanent flowing reservoir of water contained by rock layers. The top surface of this body of water is called the “water table.” If ground water rises all the way to the surface and spills onto the ground, we call it a spring. When it spills into a basement, we call it flooding. A dewatering system is the only practical remedy for this situation.

So how can you tell whether the water problem you are seeing is the result of surface water or ground water? The following is a diagnostic guide which will allow you to quickly distinguish between the two in most cases.

TIMING: Surface water symptoms appear within minutes or hours after the onset of a rain. When the rain stops, the symptoms also diminish shortly afterward. Ground water problems may occur during a period of totally dry weather, and may appear and disappear without any relationship to the daily weather conditions. They may be seasonal.

ONSET AND DURATION: Surface water problems appear suddenly and do their damage during repeated short periods. Ground water tends to build up and recede gradually. It will have long duration or may be continuous.

LOCATION: Surface water symptoms tend to be localized in areas of the basement near concentrations of water on the outside of the house. Ground water will be more widespread than concentrated, and will probably not be associated with particular sources of water outside.

SYMMETRY: Water symptoms appearing in a vaguely triangular arrangement, often in the corners of a basement, are peculiar to surface water. Ground water tends to soak the bases of walls horizontally from the floor up to a certain height and no higher.

NEIGHBORHOOD: Surface water problems are usually associated with one particular house. Ground water problems often affect an area of more than one home. If neighbors surrounding a home are also experiencing serious water problems, or if there are springs nearby, there is more likely to be a ground water problem.

TYPE AND SEVERITY OF SYMPTOMS: Surface water is usually associated with whitish minerals appearing on the inside surface of walls, staining, silt, and sharply localized water damage to walls and baseboards. Ground water is associated with “flood marks,” faint, dried out water lines indicating a prior elevated water level. Flooding to a depth of more than one inch is most often caused by ground water.

COLORATION: Surface water tends to be muddy or to carry a fair amount of silt. Ground water is usually very clear, and rarely contains silt.

Big thanks to Daniel Blum for sharing! 

Bethesda Bungalow + Treehouse!

SOLD for $685,000

4417 Chestnut Street

Bethesda, MD 20814

Nestled in a tranquil setting, this lovely home offers a lot more space than you might imagine. On the main level, you will find a generous living room with south and west facing windows opening to a bright dining room. The kitchen is bright and cheery. Next to it is a family room/den whit a door leading to a raised deck. There are two bedrooms and a full bath on the main level. The lower level features a recreation room with built-in bookshelves, a spacious home office, full bath and a room currently serving as the third bedroom. There is also a laundry/utility room which leads to a storage room which opens to the backyard and lower deck. The treehouse is just about the cutest thing we’ve ever seen… perfect for evening cocktails, or, as was originally intended, a kid’s hideout (we still have the slide that goes with it!). 

The location is ideal as it has access to two metro stations (Bethesda and NIH Medical Center). Within easy walking distance are multiple restaurants, parks, downtown Bethesda, Metro, NIH, Walter Reed Medical Center, and award-winning Bethesda-Chevy Chase High School. East Bethesda is renowned for it’s easy going vibe and friendly residents. 

Offered at $685,000

First Open House this Sunday, May 6 from 1-4pm. 

For more information, contact:

Marcie Sandalow 301-758-4894/Marcie@compass.com or

Catarina Bannier at 202-487-7177/Catarina@compass.com

💸 How To Juggle Buying and Selling 💸

Are you wondering how to juggle a home purchase and the sale of your current property? You’re not alone. In fact, we so frequently hear these concerns from our clients that we thought it was time to offer a crash course on the topic. Please join us on Wednesday, April 18, 2018, at 8 pm at the Chevy Chase Compass office (details here).  Note: This is not a first-time buyer seminar.

The biggest challenge for most move-up (and some move-down) buyers is the issue of financing. Getting a second mortgage is often out of the question. We asked Seth Opert from First Savings Mortgage to be our special guest speaker and give a detailed overview of financing and bridging options for those moving from one home to the next.

We will take questions throughout and will add our own thoughts on coordinating your move, getting your home ready for the market, competitive bidding situations and on the differences between local submarkets.

You will find some of the questions we will cover  in the poster below (Should I sell first? Buy first? Make my offer contingent on the sale of the old house? Risk having two mortgages? Would I even qualify? Or should I risk having no house at all and having to rent for a while?). But there might be a whole lot more. Please email us here if you would like to attend, or use the form at the bottom of this post.

New In East Bethesda: Lots Of Light And Space

SOLD for $913,750

Multiple Offers

We’re proud to present this sunny and updated, 18-year old colonial this weekend (open Sunday 1-4 pm).

Find 4 large bedrooms and 2 baths on the second floor. A spacious kitchen and family room are leading to the level backyard.

There is a wood-burning fireplace in the living room, a great laundry room on the first floor, and extra storage can be found everywhere. Hardwood floors throughout. This one checks a lot of boxes! Offered at $899,000. 4510 Chestnut Street – WalkScore of 75, between two Metro stations. See you on Sunday!

(For more pictures and information, click here or see the “current listings” link in the menu. )