Bethesda Chevy Chase Real Estate Information

Around Montgomery County, MD

Estridge Group — Fri, 30 Jul 2010 11:34:43 -0400

Upcoming Events

Looking for a night out at the movies? How about pizza and a 3D movie? "Journey to the Center of the Earth" will be screened at the Silver Spring Library on Monday, August 2nd. Pizza & popcorn will be available, and 3D glasses are available to the first 50 people.

It's Almost Back to School Time

Calendars for the 2010-2011 school year is available on the Montgomery County Schools website. The school year starts August 30, 2010.

Latest Bethesda & Chevy Chase Real Estate Market Conditions

Stay informed about Montgomery County real estate with these market conditions reports updated every week: Bethesda and Chevy Chase. If you have any questions about the current market, give us a call at 301-215-6837.

2010 Client Party

Estridge Group — Fri, 16 Jul 2010 07:38:02 -0400

We held our annual client party this past Sunday at the Nationals Ballpark. It was a great day out with many of the home buyers and sellers we had the privledge to work with this past year. Stop by our Facebook Fan Page to view the entire album. If you joined us at the game, make sure to tag the photos or upload your own ballpark pictures!

Report: Washington Home Prices Jump 7%

Estridge Group — Fri, 09 Jul 2010 07:52:46 -0400

The Washington Business Journal is reporting a 7% jump in Washington home prices for second-quarter 2010. This increase contributes to ...

Fourth of July Fireworks in Chevy Chase

Estridge Group — Fri, 02 Jul 2010 08:10:43 -0400

Indepedence Day festivities started early in Chevy Chase this year! Watch the fireworks finale from Columbia Country Club's display.

Bethesda Real Estate Market Report

Estridge Group — Thu, 17 Jun 2010 14:35:03 -0400

Looking for recent Bethesda real estate activity including new listings and recent sales? The Estridge Group has launched a new ...

Chevy Chase Dumpster Day

Estridge Group — Fri, 04 Jun 2010 15:57:44 -0400

Our 8th Annual Dump & Donate day is tomorrow - Saturday, June 5th from 9 to 11 AM! Bring your dumpster items to the parking lot of The French International School (3200 Woodbine Street at the corner of Beach & Woodbine) to our giant dumpster. Complete event details can be found on our ChevyChaseLiving.com blog!

Sneak Peek at Our New ChevyChaseLiving.com

Just in time for Dumpster Day, we have relaunched our ChevyChaseLiving.com website. This sneak peek at our fresh redesign offers site visitors information about Chevy Chase real estate market conditions, community events, detailed neighborhood & town information, quick searches for everything on the market in Chevy Chase, neighborhood videos & blog, and much more.

2010 Bethesda Painting Awards Exhibit

Estridge Group — Thu, 27 May 2010 17:47:01 -0400

From June 1st through 26th, the Fraser Gallery will be displaying the works of finalists from the Bethesda Painting Awards. The annual awards exclusively honors painters with $14,000 in prizes monies, and this year nine finalists will be featured in the exhibit. A public opening will be held during the Bethesda Art Walk on Friday, June 11th from 6 to 9 PM. Additional event details can be found on the Bethesda Urban Partnership website.

Chevy Chase - Partners in Health Event

Estridge Group — Fri, 21 May 2010 08:16:43 -0400

Tonight from 6 to 8 PM, a wine & cheese reception kicks off Chevy Chase's first art sale for charity event at Town Hall. Proceeds from the artwork, priced at $100, will go to Partners in Health for their relief efforts in Haiti. The art sale continues over the weekend - complete event details on the town's website.

April Sees DC Metro Area Home Sales Jump

Estridge Group — Fri, 14 May 2010 08:27:08 -0400

If you've been considering selling your DC Metro area home or condo, now may be a great time to do so.

The Washington Business Journal and Metropolitan Regional Information Systems, Inc. (MRIS) are reporting a 25% increase in mid-Atlantic residential real estate sales for April 2010 versus the same month last year. Home sales in the mid-Atlantic region for the month also saw an average sales price increase of 4% from a year ago. The number of days houses stayed on the market dropped 26%.

Home sales in Prince George's County experienced a significant sales increase of 85.6% from last April. The fastest selling homes were in Falls Church with an average of just 19 days on the market - a 73% percent drop from a 71 day average in April 2009. And Washington DC home sales in April were up 50% with average days on market dropping to 64 from 92 (30%).

Curious if now is the time to place your Washington DC, Montgomery County or Northern Virginia home on the market? Or are you ready to buy a home or condo in the DC Metro area? The Estridge Group can help you with that decision - call us at 301-215-6837 today.

A Trio of Open Houses in Arlington, Bethesda & Washington DC

Estridge Group — Thu, 06 May 2010 09:32:40 -0400

Looking for that perfect place to call home? One of our open houses this weekend may fit the bill! Join us this Sunday, May 09th from 1 to 3 PM at these sensational properties:

614 George Mason Drive
Arlington
3 Bed - 2 Bath

9412 Kingsley Avenue
Bethesda
4 Bed - 3 Bath

1833 California Street NW #301
Washington, DC
1 Bed - 1 Bath

We hope to see you there!

Audubon Nature Fair This Sunday in Chevy Chase

Estridge Group — Wed, 28 Apr 2010 15:17:56 -0400

Bring the family and enjoy hands-on nature activities, native plants, Green Marketplace, the Washington Revels & more this Sunday, May 2, 2010 from

Renovating Your Montgomery County Home? New EPA Regulations May Affect Your Project

Estridge Group — Thu, 22 Apr 2010 09:27:58 -0400

New Lead-Based Paint Law Goes into Effect April 22, 2010

With the goal of reducing children’s exposure to dust ...

Upcoming Literary & Arts Events in Bethesda

Estridge Group — Sun, 21 Mar 2010 10:37:53 -0400

Two great festivals are scheduled for April & May in Bethesda! Featuring authors, improv theater, children's events and more, the 11th Annual Bethesda Literary Festival will be held April 16-18.

Repeat Buyers Need to Act Fast to Capitalize on Expanded Tax Credit

Estridge Group — Mon, 25 Jan 2010 17:25:51 -0500

RISMEDIA, January 23, 2010—By now it is well documented that today’s affordable housing prices, historically low interest rates and federal home buyer tax credit have combined to create one of the most attractive first-time buyer markets in recent memory. What many Americans might not realize is that a recent expansion of the buyer tax credit has created an equally desirable opportunity for existing homeowners.

This past November, Congress elected to expand the home buyer tax credit to repeat buyers after seeing the success the temporary financial incentive had on the housing market and overall economy. As a result, current homeowners who will have lived in their home for 5 consecutive years out of the last 8 may now be eligible to receive a $6,500 tax credit.

“The expanded tax credit offers a great financial opportunity for existing homeowners, particularly those looking to trade up,” said James M. Weichert, president and founder of Weichert, Realtors, one of the nation’s largest independent real estate companies. “Not only can you receive a large sum of money from the government, you’ll also likely purchase your next home for less money and at a lower interest rate than you could have in years past or years to come.”

To qualify for the tax credit, the repeat buyer must have signed a binding contract by April 30, 2010 and close on the home by June 30, 2010. Tax credit eligibility is subject to income limits, $125,000 for single buyers and $225,000 for couples. In addition, the sale price of the home being purchased can not exceed $800,000.

There is no requirement that existing homeowners must have sold their home to be eligible for the $6,500 tax credit. However, Weichert encourages existing homeowners who want to benefit from this incentive to move quickly, particularly those who prefer to first sell their current home before purchasing a new one.

“Typically, it takes three months or longer to sell a home. That’s why it is critical repeat buyers put their home on the market right away. Otherwise they might not leave themselves enough time to both secure a buyer for their current house and find a new home by the April 30 deadline,” added Weichert.

TAKING THE MYSTERY OUT OF APPRAISALS!

Estridge Group — Tue, 19 Jan 2010 13:35:27 -0500

The appraisal process often baffles consumers. They may feel that their home is worth a higher dollar amount, and so the appraised value doesn't always make sense to them. It is important to know that the appraiser is completely independent from lenders, buyers, sellers, and real estate agents, and that the guidelines to which they adhere are dictated by the Uniform Standards of Professional Appraisal Practice (USPAP) and Fannie Mae. In most states, the mortgage lenders must also disclose the purpose of the appraisal, as each transaction carries its own set of rules.

In essence, these important guidelines help appraisers put a fair market value on homes based on comparable sales in the same area, and the home must be bracketed in size and value.

For example, there is no set dollar figure associated with a great view, pool, spa, bathroom upgrades, etc. If a homeowner installs a custom pool that cost them $30,000, but the local marketplace supports the value of a pool at $15,000, then that item will be bracketed as [$15,000] on the appraisal.

Upgrades can usually be expressed at a higher percentage of their value in newer homes because the only way to obtain those upgrades was to put more money into the cost of building the home. On the other hand, the upgrading or remodeling of an older home is rarely reflected in full in the final appraisal. This is because typically 25-40% of the project involves demolition and the fixing of issues that aren't uncovered until the project has already begun, such as plumbing or wiring that may need updating.

Ultimately, the value of the upgrades must be supported by comparable examples within the same marketplace. These comparisons must be drawn from current market activity within the last six months. This is a safeguard to prevent appraisers from attaching too high a value to the home in question, and opening up the appraisal for review. This guideline further states that appraisers can only base their opinion on the value of home sales that have actually closed.

PUBLIC HEARING COMING FOR ELIMINATION OF RIDE ON ROUTES

Estridge Group — Mon, 18 Jan 2010 12:07:03 -0500

Published on: Friday, January 15, 2010 By Joe Slaninka

Cut!

In the midst of a looming $608 million budget shortfall in fiscal year 2011, Montgomery County Executive Isiah Leggett proposed $70 million in midyear budget cuts last week that include layoffs, reductions in education spending and the elimination of some Ride On bus routes.

“It is important to understand … I will not recommend exceeding the charter limit on property taxes in the [fiscal year 2011] budget,” Leggett said. “The county’s taxpayers continue to face their own unprecedented fiscal challenges.”

To avoid raising taxes, Leggett proposed eradicating a total of 70 county positions, 44 of which are currently filled. He said the county “will make every effort to appropriately place any affected individuals into vacant positions” and will follow all personnel regulations and labor agreements in the process.

“I think this is the first time we ever had to discuss cuts that involved positions with people actually in them,” County Council President Nancy Floreen said Monday, about potential layoffs. “We’ve never had this discussion before.”

In addition to layoffs, Leggett proposed slashing 39 Ride On bus routes. The routes that face potential elimination would be those that would least affect county residents, officials said. The removal of these routes would save the county a total of $2 million.

The first public hearing at which residents can voice their opinions on the budget is scheduled for Feb. 1 at 6:30 p.m. in the county executive office building, at 101 Monroe St., in Rockville.

Since becoming county executive, Leggett has trimmed a total of more than $1 billion from three county budgets. The fiscal year 2010 budget totals about $4.4 billion.

Last November, the Montgomery County Council made about $30 million in midyear cuts to the fiscal year 2010 budget. If Leggett’s proposal is fully passed, total midyear budget cuts would exceed $100 million.

“This is just a precursor to the fiscal [2011] budget,” Floreen said. “It’s going to be pretty tough.”

Floreen said residents will handle issues they have never had to deal with before so the council will make the budget much more accessible to them by providing budget plans in their entirety on the county Web site, www.montgomerycountymd.gov.

“We get a lot of comment on what we should preserve, but we never get feed back on what not to spend on, and this year should be no different,” she said. “Communication is a huge issue, and we will make ourselves as accessible as possible.”

Bethesda Literary Festival Coming in February!

Estridge Group — Fri, 15 Jan 2010 15:08:18 -0500

Bethesda Literary FestivalAdult & Young Adult Writing ContestDeadline: February 26, 2010The Bethesda Literary Festival, scheduled for April ...

Dance Bethesda Coming up in February!

Estridge Group — Fri, 15 Jan 2010 15:01:38 -0500
6th Annual Dance BethesdaDance Concert, Master Classes & Dance PartiesFebruary 26-27, 2010Dance Bethesda, a weekend celebrating dance, ...

The Countdown Is On - Buyer's & Seller's Utilizing Tax Credits!

Estridge Group — Wed, 13 Jan 2010 11:13:24 -0500

As we begin 2010, both real estate professionals and home buyers have something to look forward to and more importantly, take advantage of—the extended and expanded home buyer tax credit.

Originally created in 2008, the home-buyer tax credit has evolved from a $7,500 credit, which had to be repaid by the home buyer over the course of 15 years, to an $8,000 tax credit with no repayment required in 2009. Now, for a limited time in 2010, the $8,000 home buyer tax credit will still be available to first-time home buyers and certain current homeowners will also be eligible for a $6,500 credit.

To help everyone better understand the extended and expanded home buyer tax credit, here are some highlights of the changes.

Who can claim the credit?

“First-time home buyers” who purchase homes between November 7, 2009 and April 30, 2010 are eligible for the credit. To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.

For current homeowners purchasing a home during the same time frame, they are also eligible for a tax credit, so long as the home being sold or vacated was their principal residence for five consecutive years within the last eight. To elaborate, it must be the same home; it is not enough that they have been homeowners for five consecutive years, they must have been in the same home for five consecutive years.

Another key point is that the existing home does not need to be sold. One must, however, occupy the new home as a principal residence and do so for three years or risk recapture of the credit. Also, the new home does not need to cost more than the old home despite the concept that it is directed at “move up” buyers.

How much is the credit and what are the income limits?

The maximum allowable credit for first-time home buyers is $8,000 or 10% of the sales price, whichever is less. For current homeowners, it is $6,500 or 10% of the sale price, whichever is less. Under the extended home buyer tax credit, single buyers with incomes up to $125,000 and married couples with incomes up to $225,000 may receive the maximum credit.

The credit decreases for single buyers who earn between $125,000 and $145,000 and between $225,000 and $245,000 for home buyers filing jointly. The amount of the tax credit deceases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income – over $145,000 for singles and over $245,000 for couples – are not eligible for the credit.

What are the deadlines for qualifying for the credit?

Under the extended home buyer tax credit, as long as a written binding contract to purchase a home is in effect on April 30, 2010, and the deal is closed by July 1, 2010, one can claim the credit.

Will the tax credit need to be repaid?

No, the buyer does not need to repay the tax credit if he/she occupies the home for three years or more. However, if the property is sold during this three-year period, the full amount of the credit will be recouped on the sale. Another provision of the law waives the recapture provisions for service members who receive orders that require them to move.

Are there any other critical provisions?

-There are three provisions people should be aware of:
-There is an $800,000 limitation on the cost of the home
-The purchaser must be at least 18 years old on the date of purchase
-For a married couple, only one spouse must meet this age requirement and dependents are not eligible to claim the credit

Finally, as an anti-fraud measure, purchasers must attach documentation of purchase to his/her tax return claiming the credit. Normally this would be a copy of the HUD-1, but could include other documents memorializing the settlement.

As with all tax matters, responsibility for complying with the tax code belongs to the taxpayer. Real estate professionals should recommend that their buyers consult their tax professionals to ensure eligibility for the credit and the proper way to claim the credit. For more information including the required IRS forms please contact the Internal Revenue Service at 800-829-1040.

Stay Warm & Safety Tips During Our Cold Wave!

Estridge Group — Fri, 08 Jan 2010 11:22:57 -0500

Bone chilling temperatures have gripped much of the country recently and the American Red Cross urges everyone to be safe ...

Resources Available for Homebuyers/Sellers in the Bethesda-Chevy Chase, MD and Washington, D.C. Area

Estridge Group — Wed, 30 Dec 2009 09:21:47 -0500

As part of our ever-evolving marketing strategy, we offer various real estate tools and resources for buyers and sellers looking for the right home or property in the Bethesda-Chevy Chase, MD and Washington, D.C. corridor. For sellers, we now have detailed descriptions of our listings with custom-made searches to show properties in specific communities throughout the Bethesda-Chevy Chase, MD and Washington, D.C. corridor. Buyers can familiarize themselves with what homes are available, where properties are located, and what are accurate prices. Our website, www.TheEstridgeGroup.com, has these high-level property search tools and other resources that make us the REALTOR® of choice in our market.

Click here to browse our featured listings or click here to sign up for free listings updates.

Visit The Estridge Group website to take advantage of these wonderful resources! We look forward to helping you buy or sell your home.

Melinda Estridge
Long and Foster Realtors Bethesda
4650 East West Highway
Bethesda, MD 20814
Phone: 301-215-6837
Fax: 301-951-7668
Email: melinda@theestridgegroup.com

PUT YOUR HOME ON AN ENERGY DIET!

Estridge Group — Wed, 30 Dec 2009 09:19:54 -0500

RISMEDIA, December 30, 2009—We’ve all been there on making well-intentioned New Year’s resolutions, among them promising faithfully to go on a diet, exercise and eat healthier. And sometimes, we may even keep those resolutions for a little while before falling off the wagon.

As part of the yearly New Year’s resolution-making ritual, the Alliance to Save Energy encourages consumers to check out their home’s physical fitness and, depending on its overall state of health, put it on an ‘energy diet.’

How is your Home’s ‘Physical Fitness?’
The “physical fitness” of your home can make the difference between soaring energy bills or comfortable savings this winter. By cutting wasteful energy use, an energy-efficient home is a strong defense against winter winds, rain, sleet, snow, and chill, while also reducing air pollution and greenhouse gas emissions and increasing national security.

And Uncle Sam is offering another incentive for putting your home on an energy diet: A 30% tax credit—a dollar-for-dollar reduction in your income taxes owed—of up to $1,500 during the remainder of 2009 and throughout 2010 for specific energy efficiency home improvements. Details on qualifying products, including insulation and sealing products, highly efficient furnaces, heat pumps, and windows, are available at www.ase.org/taxcredits.

The Alliance offers the following physical fitness tips to help cut your home’s energy bills and increase comfort.

Is Your Home Leaking Energy Dollars?
First plug air leaks. Your heating and cooling dollars could be going out your windows, doors, and electrical outlets. Seal all those air leaks with sealant or caulking and weather stripping.

Then, “insulate” yourself from price shocks. Install appropriate insulation for your climate based on R-values. Start with attic insulation, followed by exterior and basement walls, floors, and crawl spaces. Insulate and seal attic air ducts. These first two steps will increase your comfort, make your home quieter, and reduce your heating and cooling costs by up to 20%.

Go “window shopping” at www.efficientwindows.org to discover how high-performance ENERGY STAR-labeled windows can cut heating costs by as much as 30% compared to single-pane windows, while increasing indoor comfort and lessening fading of home furnishings.

Improve How You Care for and Heat Your Home
Heating accounts for 31% of the typical home’s energy costs. Sealing and insulating your home, as well as the other energy efficiency measures below, will lower your heating bills, increase your comfort, and decrease your carbon footprint.

Properly maintain your HVAC system. Just as a tune-up for your car can improve your gas mileage, a semi-annual or yearly tune-up of your heating and cooling system can improve efficiency and comfort.

Keep furnace filters clean. Check your filter every month, especially during heavy use months (winter and summer), and change it if it looks dirty. At a minimum, change the filter every three months. A dirty filter will slow down air flow and make the system work harder to keep you warm–wasting energy. A clean filter will also prevent dust and dirt from building up in the system, which could require expensive maintenance and/or cause early system failure.

Seal your heating and cooling ducts. In a typical house with a forced air system, about 20% of the air that moves through the duct system is lost due to leaks, holes, and poorly connected ducts. Sealing and insulating ducts increases efficiency, lowers home energy bills, and can often pay for itself in energy savings. Insulate ducts in unheated areas such as attics, crawlspaces, and garages with duct insulation that carries an R-value of 6 or higher. Also, a well-designed and sealed duct system may make it possible to downsize to a smaller, less costly heating and cooling system that will provide better dehumidification.

Let a programmable thermostat “remember” to lower the heat while your home is empty and/or overnight to reduce heating costs by up to 10%–and allow you to come home and wake up to a toasty, comfortable house.

Have to replace your HVAC equipment? Consider installing ENERGY STAR-qualified heating and cooling equipment. Installed correctly, these high-efficiency units can save up to 20% on heating and cooling costs. And, certain highly-efficient models qualify for the current federal income tax credit.

Open curtains and other window treatments on your west- and south-facing windows during the day to allow sunlight to naturally heat your home, and close them at night.

Replacing or purchasing energy-using and energy-related products? Save up to 30% in related energy bills with products earning the ENERGY STAR label, the symbol of energy efficiency, on some 50 product categories, including appliances, electronics, windows, lighting, and home office equipment.

Buyers Respond to Tax Credit Existing Home Sales Jump 7.4% in Nov 2009

Estridge Group — Wed, 23 Dec 2009 10:31:29 -0500

RISMEDIA, December 23, 2009—Existing home sales rose again in November 2009 as first-time buyers rushed to close sales before the original November 30 deadline for the recently extended and expanded tax credit, according to the National Association of Realtors®.

Existing home sales–including single-family, townhomes, condominiums and co-ops– rose 7.4% to a seasonally adjusted annual rate of 6.54 million units in November from 6.09 million in October, and are 44.1% higher than the 4.54 million-unit pace in November 2008. Current sales remain at the highest level since February 2007 when they hit 6.55 million.

Lawrence Yun, NAR chief economist, said the rise was expected. “This clearly is a rush of first-time buyers not wanting to miss out on the tax credit, but there are many more potential buyers who can enter the market in the months ahead,” he said. “We expect a temporary sales drop while buying activity ramps up for another surge in the spring when buyers take advantage of the expanded tax credit, which hopefully will take us into a self-sustaining market in the second half of 2010. In all, 4.4 million households are expected to claim the tax credit before it expires and balance should be restored to the housing sector with inventories continuing to decline.”

An NAR practitioner survey shows first-time buyers purchased 51% of homes in November, compared with an upwardly revised 50% of transactions in October.

According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to 4.88% in November from 4.95% in October; the rate was 6.09% in November 2008. Last month’s mortgage interest rate was the second lowest on record after bottoming at 4.81% in April 2009.

NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz., said conditions are optimal for buyers in the current market. “Inventories have steadily declined and are closer to balanced levels, which indicate home prices in many areas are either stabilizing or could soon stabilize and return to normal appreciation patterns,” she said. “This means buyers still have good choices but are purchasing near the bottom of the price cycle with historically low mortgage interest rates. Throw a tax credit on top and it really doesn’t get any better for buyers with secure jobs and long-term ownership plans.”

Total housing inventory at the end of November declined 1.3% to 3.52 million existing homes available for sale, which represents a 6.5-month supply at the current sales pace, down from an 7.0-month supply in October.

Raw unsold inventory figures are 15.5% below a year ago. The last time there was a lower supply of homes on the market was April 2006 when it was at a 6.1-month supply.

“Nearly all markets experienced a solid sales gain from one year ago,” Yun said. “The only markets with measurably lower sales were in San Diego, Riverside, and Sacramento, where inventory shortages for lower priced homes are limiting sales.”

For the second month in a row, sales have risen in all price classes from a year earlier. Prior to October, the only consistent gains were in the lower price ranges.

The national median existing-home price for all housing types was $172,600 in November, which is 4.3% below November 2008. Distressed properties, which accounted for 33% of sales in November, continue to downwardly distort the median price because they generally sell at a discount relative to traditional homes in the same area.

Single-family home sales jumped 8.5% to a seasonally adjusted annual rate of 5.77 million in November from a level of 5.32 million in October, and are 42.1% above the pace of 4.06 million in November 2008. The median existing single-family home price was $171,900 in November, down 4.4% from a year ago.

Existing condominium and co-op sales in November were unchanged from a seasonally adjusted annual rate of 770,000 in October, but are 60.1% above the 481,000-unit pace a year ago. The median existing condo price was $178,000 in November, which is 3.1% below November 2008.

Northeast
Regionally, existing home sales in the Northeast rose 6.6% to an annual level of 1.13 million in November, and are 52.7% higher than November 2008. The median price in the Northeast was $223,400, down 13.1% from a year ago.

Midwest
Existing-home sales in the Midwest increased 8.4% in November to a pace of 1.55 million and are 53.5% above a year ago. The median price in the Midwest was $140,800, a decline of 0.4% from November 2008.

South
In the South, existing-home sales rose 4.8% to an annual level of 2.39 million in November and are 44.8% higher than a year ago. The median price in the South was $151,400, down 1.4% from November 2008.

West
Existing-home sales in the West increased 10.6% to an annual rate of 1.46 million in November and are 28.1% above November 2008. The median price in the West was $231,100, which is 4.1% below a year ago.

Protecting you Identity - Great Article, Good Information

Estridge Group — Mon, 21 Dec 2009 13:16:10 -0500

Do You Need Real-Time ID-Theft Protection?

Even as the effectiveness of credit monitoring services comes under fire, some of the same companies are pushing a new generation of personal data tracking: identity theft protection that involves real-time monitoring of your most important information.

Here's how it works. Companies that track personally identifiable information, or PII, contract with third-party database providers and track any activity that involves a consumer's name, address, date of birth or Social Security number. Some services also scour web sites where such information is illegally traded. Providers say that these services -- which can cost between $9.95 to $29.95 a month -- have the potential to catch identity fraud before it has occurred, thanks to the ability to monitor PII activity in real time. Credit„monitoring, in contrast, alerts consumers after their information has already been misused -- one of the main reasons why the products have been criticized by consumer advocates.

While there is no hard data on exactly how many companies are offering real-time monitoring of personal data, two of the three large credit bureaus -- Equifax and Experian -- as well as at least one lender, Bank of America, and third-party vendors like LifeLock and IdentityGuard are already selling the service. "In the past year, there's really been an explosion among vendors offering PII monitoring," says Rachel Kim, an analyst with Javelin Strategy & Research and author of two comprehensive reports on identity protection services released in 2009 and 2007.

Providers hope that PII monitoring helps attract consumers who have been disenchanted with traditional credit-monitoring products. "These companies are struggling to keep their revenue up and to keep their customers because consumers realize credit-report monitoring is not all that effective," says Avivah Litan, a vice president and security analyst at technology-research firm Gartner.

But it is also adding to privacy advocates' concerns over the growing prevalence of personal-information dossiers: huge databases of consumers' personal information that can be used by lenders, marketers or any other service provider willing to pay the 50 cents to $2 charge per transaction to have it scored for the likelihood of fraud.

Most lenders already engage in such real-time monitoring of consumers' personal identity information by calculating identity scores that rate the likelihood that a specific credit transaction or application is fraudulent. (If you've ever had to answer seemingly random identity-verification questions, such as the house number where you lived 10 years ago or the issuer of the mortgage on your first home, chances are your credit„application was flagged as a potential fraud.)

PII monitoring services are making this technology available to consumers, as well. "We are using technology that has helped many of the Fortune„500„companies detect fraud activities in real time," says Todd Davis, the chief executive officer of LifeLock.

A big catalyst for the growth of PII monitoring was a lawsuit Experian filed against LifeLock in 2008, aiming to prevent LifeLock from placing or renewing fraud alerts on consumer credit files. (Experian claimed that consumers should not have to pay $10 a month for something they could do on their own.)

By the time the lawsuit was settled in October, LifeLock had already switched to monitoring its customers' personally identifying information. (As part of the settlement, it will no longer place fraud„alerts.) Many of its competitors have followed suit. "Now that fraud alerts have been deemed something that only consumers can do, the attention is going to be turning more towards information monitoring," says Kim.

But as with any new service, its effectiveness has yet to be tested -- or at least made public by the vendors who provide it. "What we'd like to see vendors do more of is publicly provide their testing and research to show us that it's working," Kim says.

For now, the only gauge of how well PII monitoring works may be in so-called brand-protection or cyber intelligence services used by large corporations, says Gartner's Litan. Large corporations often hire firms to monitor what is being said about them or their brand online, aiming to detect and prevent things like trademark misuse. Roughly 60% to 70% of the threats against companies are typically detected, Litan says.

Yet, so far consumer„response to PII monitoring has been warm, says Javelin's Kim. When asked to rate their satisfaction with these services on a scale of one to five (one being very dissatisfied and five, very satisfied), nearly half (45%) of the respondents to Javelin's survey gave PII monitoring top marks. (Credit„monitoring was also rated a "five" by 45%.) "Effectiveness is only one of the reasons consumers are purchasing [PII monitoring]," Kim says. "Apart from that is the feeling of security and getting alerts from the subscription provider. It's the interaction they're having with the vendor that gives them peace of mind."

By: Aleksandra Todorova, www.smartmoney.com

Walk Through Woes!

Estridge Group — Mon, 21 Dec 2009 13:14:19 -0500

Just a short tip:

Buyers can be a little cranky on closing day if things go wrong during the walk-through inspection. For example, the sellers' dependable old dishwasher might stop midway through its cycle and the bathroom sink might clog unexpectedly. These situations can create anxiety for the buyers and sellers, but such problems are quite common and usually simple to resolve.

Most purchase agreements require that the major mechanical systems and the appliances being conveyed are in working order at the time of the closing. Defects are often discovered during the structural inspection, allowing the sellers plenty of time to have the repairs made. Occasionally there are last-minute breakdowns or defects that are not spotted until the walk-through inspection. In that case, an agreement can be made with the sellers at the closing to escrow funds for the repair or replacement of the items in question.

Do These Real Estate Tips Really Apply to YOU?

We've learned these tips through years of experience as top REALTORS®. But we know that YOUR situation might be different. That's why we're here.

It's our job to personally advise homebuyers and sellers.

Do any of these tips raise questions for you? Let us know! We are happy to answer ANY questions. It's our job!

Bethesda Art Walk December 11, 2009 - Last One This Year

Estridge Group — Thu, 10 Dec 2009 16:36:26 -0500

The Bethesda Art Walk features 10 galleries and studios that open their doors from 6-9pm on the second Friday of every month. Downtown Bethesda galleries showcase artwork created locally, nationally and internationally including painting, photography, sculpture and mixed media.

You can enjoy several galleries by walking throughout downtown Bethesda’s fun-filled streets. The free Bethesda Circulator stops within a few blocks of each Bethesda Art Walk gallery, and runs continuously throughout the duration of the Art Walk.
Free Bethesda Circulator Route.

Check out all the arts venues located in downtown
Bethesda's Arts & Entertainment District!

101 Energized Tips to make your home Sale Ready!

Estridge Group — Wed, 09 Dec 2009 13:50:13 -0500

The attached article is re-printed with permission but contains some great tips for preparing your house for sale! We hope you enjoy this article - feel free to pass it on to friends and family.

Tips for Buyers Who Would Like to Use The Home Buyer Credit!

Estridge Group — Fri, 04 Dec 2009 17:40:06 -0500

Tips for buyers
Interested in buying a home and claiming the home-buyer tax credit? Below are five tips:

1. Don’t procrastinate. Start searching for a home now. Getting an early start will give you a better chance of finding the right house before the credit deadline. Before you start house hunting, get preapproved for a mortgage, and do a realistic assessment of what you can afford. Buyers who have to sell an existing home should price it aggressively from the beginning to drum up interest and get a buyer as soon as possible.

2. Don’t count on another extension. The credit won’t be available forever. If you want to take advantage, be sure to make that spring deadline.

3. Mind the interest rates. Mortgage interest rates are low right now, but will likely rise next year. Higher rates will affect your monthly mortgage payments, thus the affordability of the house you are buying. Average rates on the 30-year fixed-rate mortgage have been hovering around 5%, but when the government stops buying large amounts of mortgage-backed securities, rates could rise.

4. Communicate with your lender. Throughout the process, make sure you’re communicating with your lender regularly; if there’s a piece of documentation you’re asked for, get it turned in as soon as possible. Good communication is important in making sure the loan closes on time. And think twice before pursuing a short sale if you want to make the credit deadline. That’s where someone sells a home for less than what he or she owes on a mortgage, with permission of the lender. The process can be lengthy and unpredictable because the homeowner’s lender has to approve any deal, and can be complicated when there is a second mortgage associated with the property.

5. Don’t take shortcuts. Don’t forgo any of the steps you would normally take just to make the tax credit deadline. Make sure the house is a good fit for your needs and get a home inspection. Skipping steps could cost you in the long run.

Holiday Plumbing Tips

Estridge Group — Fri, 04 Dec 2009 17:35:08 -0500

The holidays are coming, bringing together family, friends and a few plumbing emergencies. A majority of Americans take part in holiday parties with 11 or more guests around Thanksgiving and Christmas. These extra guests put a serious strain on a home's plumbing system, which results in more emergency calls to plumbers.

Big holiday meals require a busy kitchen. Too much grease and food finds its way into the kitchen drain or disposer. Holiday guests also equate to extra showers, bath and lots of extra toilet flushes. It all adds up to potential plumbing disasters.

Pipes clog because of a gradual buildup of grease, hair, soap or food particles. All it takes it one major overload, like a house full of guests, to exasperate the situation and create a clogged drain. Follow these tips to avoid a plumbing disaster.

In the kitchen:

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Avoid pouring fats or cooking oils down the drain because liquid fats solidify in the pipes and create clogs. Wipe congealed grease from pots.

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Never put hard-to-grind, stringy, fibrous waste into the garbage disposer (poultry skins, carrots, celery, pumpkin pulp or banana peels). The disposer can't sufficiently grind these items and they will clog your sink drain.

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Run cold water down the drain for about 15 seconds before and after using the garbage disposer to flush waste down the main line.

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Turn on the disposer before adding food debris.

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Run the dishwasher and washing machine at night or at off times to conserve water temperature and pressure for your guests.

In the bathroom:

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Plan ahead, spread out showers throughout the day; wait 10 minutes between showers rather than taking one right after another.

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Turn up the water heater slightly to retain hot water. To avoid scalding, do not exceed 125°F.

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If shower pressure is weak, pour a cup of vinegar into a plastic bag, place it over the showerhead, and soak. Use a twist tie to hold it in place overnight. In the morning, remove the bag and use an old toothbrush to gently scrub off the mineral deposits to help restore water flow.

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Provide a trash bin in the bathroom so the toilet isn't used as a garbage can. Never flush cotton swabs, cotton balls, hair, facial scrub pads, diapers, sanitary products or similar items down the toilet. These items will not easily dissolve and are responsible for most clogs.

Ice Sculpting in Bethesda - What Fun!!!!!

Estridge Group — Tue, 24 Nov 2009 11:00:57 -0500

Live Ice Sculpting
Saturday, December 5, 1pm Saturday's Winter Wonderland festivities will be kicked off with a live ice sculpting presentation. Watch as blocks of ice are transformed into magnificent pieces of art. The ice sculptor will use chainsaws, ice picks and other tools to transform the ice and awe the audience.

Ice sculpting presentations are from 1-2pm in Veterans Park, located on the corner of Woodmont and Norfolk Avenues in Bethesda's Woodmont Triangle. A live concert and visit from Santa will follow the presentation.