Huge Condo Auction at "Ashmore at Germantown"

I wanted to alert all of our clients and friends to a great opportunity to pick up a brand new condo in Montgomery County at an upcoming auction. Some of you may have seen a report about this auction on WUSA 9 News, view that report here:

The builder of The Ashmore at Germantown has apparently decided to cut his losses and auction off nealry 60 remaining units in the development. The 2 bedroom/2 bathroom condos will start at $140K. I ran quick comps in the MLS and it looks like as late as this spring the same units were listed for around $335K.

The auction will take place on Sunday, November 16th at noon at the Hilton in Rockville. The auction house will have the units open for the public to view November 1st, 2nd, 8th, 9th and 15th from 11 am to 3 pm. The community center/sales office is located at 13500 Carlow Point Circle at the intersection of Waterford Hills Boulevard Father Hurley Boulevard in Germantown.

At the auction WEBSITE you will find detailed floor plans, a map of the community and a price sheet of the specific units and the starting bids for each. This seems like a greast opportunity for first time buyers or those looking to pick up an investment property. Let me know if you would like help understanding the auction process, I have successfully purchased investment property at auction and I am happy to share my knowledge. Contact me at Michael@RealAstute.com or 202-369-9821.

Feeling Nosy about DC? MD? VA?

Ok, I know you're probably not planning on moving this very second, but here's this week's list of interesting-looking listings that have just come on the market. Mind you, they may not actually be my personal listings --- just intriguing properties I've come across this week.

Feeling nosy about the District of Columbia?
Feeling nosy about Virginia?
Feeling nosy about Maryland?

If you know someone who might be interested in this list, please forward it on to him or her. And if there's a listing that you're curious about yourself, just let me know ... and I'll show it to you ... just for the hell of it ... no obligation ... *I promise*. Really. (One of the perks of being the friend of a real estate agent ought to be that you get to freely snoop around other peoples' homes!)

New $7500 First Time Buyer Credit

As part of the recent economic stimulus legislation, there is a new $7500 temporary tax credit to provide an incentive for first-time home buyers. The $7500 credit is available for the purchase of a principle residence on or after (retroactive to) April 9, 2008 and before July 1. 2009. The National Association of Realtors (NAR) has a great 6 page info sheet about the program and how it works, HERE.

$5000 DC First Time Buyer Tax Credit Renewed

The recent economic stimulus legislation also renewed the $5000 First Time Buyer Tax Credit for buyers in the District of Columbia. The credit does not have to be paid back like the $7500 federal credit. You can not use both the $7500 and $5000 tax credits, you can use one of the other. So, my recommendation for folks buying in DC use the DC Credit since they would not have to pay the credit back to the government. Learn more about the credit HERE.

Feeling Nosy about DC? MD? VA?

Ok, I know you're probably not planning on moving this very second, but here's this week's list of interesting-looking listings that have just come on the market. Mind you, they may not actually be my personal listings --- just intriguing properties I've come across this week.

Feeling nosy about the District of Columbia?
Feeling nosy about Virginia?
Feeling nosy about Maryland?

If you know someone who might be interested in this list, please forward it on to him or her. And if there's a listing that you're curious about yourself, just let me know ... and I'll show it to you ... just for the hell of it ... no obligation ... *I promise*. Really. (One of the perks of being the friend of a real estate agent ought to be that you get to freely snoop around other peoples' homes!)

Renovator's House Tour 2008

Be sure to check out this year's Renovator's House Tour on Capitol Hill. The tour is this Saturday, October 18th from 10 am to 4 pm. All of the renovated houses on the tour are walking distance from one another here on the Hill. The tour benefits the Capitol Hill Cluster School. Check out their website at http://www.renovatorshousetour.org for more information.

Feeling Nosy about DC? MD? VA?

Ok, I know you're probably not planning on moving this very second, but here's this week's list of interesting-looking listings that have just come on the market. Mind you, they may not actually be my personal listings --- just intriguing properties I've come across this week.

Feeling nosy about the District of Columbia?
Feeling nosy about Virginia?
Feeling nosy about Maryland?

If you know someone who might be interested in this list, please forward it on to him or her. And if there's a listing that you're curious about yourself, just let me know ... and I'll show it to you ... just for the hell of it ... no obligation ... *I promise*. Really. (One of the perks of being the friend of a real estate agent ought to be that you get to freely snoop around other peoples' homes!)

Long and Foster Goes Green

I am pleased to see that our broker, Long and Foster has "gone green" with a new corporate Green Statement, here:

Feeling Nosy about DC? MD? VA?

Ok, I know you're probably not planning on moving this very second, but here's this week's list of interesting-looking listings that have just come on the market. Mind you, they may not actually be my personal listings --- just intriguing properties I've come across this week.

Feeling nosy about the District of Columbia?
Feeling nosy about Virginia?
Feeling nosy about Maryland?

If you know someone who might be interested in this list, please forward it on to him or her. And if there's a listing that you're curious about yourself, just let me know ... and I'll show it to you ... just for the hell of it ... no obligation ... *I promise*. Really. (One of the perks of being the friend of a real estate agent ought to be that you get to freely snoop around other peoples' homes!)

DC Tour of Solar Homes and Buildings

With all the news of doom and gloom surrounding the financial and housing markets, it is nice to know that there is a "bright spot" -- solar power! You heard right, solar paneled homes and commercial buildings have become very sophisticated. Many of the homes and buildings using the latest in solar technology are right here in DC and you can see them yourselves this weekend.

Over 50 homes in the DC, Maryland and Virginia area will be open on Saturday and Sunday from 11 am to 5 pm. Learn more about the tour at http://www.solartour.org/.

Feeling Nosy about DC? MD? VA?

Ok, I know you're probably not planning on moving this very second, but here's this week's list of interesting-looking listings that have just come on the market. Mind you, they may not actually be my personal listings --- just intriguing properties I've come across this week.

Feeling nosy about the District of Columbia?
Feeling nosy about Virginia?
Feeling nosy about Maryland?

If you know someone who might be interested in this list, please forward it on to him or her. And if there's a listing that you're curious about yourself, just let me know ... and I'll show it to you ... just for the hell of it ... no obligation ... *I promise*. Really. (One of the perks of being the friend of a real estate agent ought to be that you get to freely snoop around other peoples' homes!)

First Fall Weekend in DC!

It is the first full fall weekend in Washington DC and there are so many great activities! So, nothing about real estate on the blog this week, instead I am going to suggest a few great activities for the weekend, such as:

Bike DC 2008
On Saturday morning I will be taking my bike down to Penn Ave for a great car-free bike ride around DC called Bike DC 2008. It is not too late to register, check it out at www.BikeDC.net.



National Book Festival 2008
After the bike ride we are heading down to the National Mall for the National Book Festival. An idea that First Lady Laura Bush brought about starting back in 2001. Learn more about the festival at www.loc.gov/bookfest.



Barracks Row Oktoberfest
After listening to a few authors we plan to head up the Hill to 8th Street SE (the street where out office is located) at Eastern Market and visit the Barracks Row Oktoberfest. Learn more about it at www.barracksrow.org/Ocktoberfest08.htm. While you are down there, be sure to check out my friend Leah's kitchen store "Hill's Kitchen" on the 700 block of D Street SE, learn more here: www.hillskitchen.com.



Crafty Bastards Arts & Crafts Festival
On Sunday, we plan to head up to the Marie Reed Learning Center at 18th and Wyoming Streets NW for the Washington City Paper's Crafty Bastards Arts and Crafts Festival. Learn more at www.washingtoncitypaper.com/craftybastards.



St. Sophia Greek Festival
While we are in upper NW we will probably swing by the St. Sophia Greek Orthodox Cathedral for their annual Greek Festival. Learn more at www.saintsophiawashington.org/involved/festival.php. Be sure to get some spanakopita!

Enjoy this first full weekend of fall in DC!

Feeling Nosy about DC? MD? VA?

Ok, I know you're probably not planning on moving this very second, but here's this week's list of interesting-looking listings that have just come on the market. Mind you, they may not actually be my personal listings --- just intriguing properties I've come across this week.

Feeling nosy about the District of Columbia?
Feeling nosy about Virginia?
Feeling nosy about Maryland?

If you know someone who might be interested in this list, please forward it on to him or her. And if there's a listing that you're curious about yourself, just let me know ... and I'll show it to you ... just for the hell of it ... no obligation ... *I promise*. Really. (One of the perks of being the friend of a real estate agent ought to be that you get to freely snoop around other peoples' homes!)

Confessions of a Subprime Lender

Every day I deal with the ramifications of the subprime lending crisis. I meet great people who could have put 5% down and would have made great buyers but unfortunately in today's climate cannot afford to put the nearly 10-15% down lenders now require. That is why I was fascinated to learn of a new book by Richard Bitner's entitled "Confessions of a Subprime Lender."

The National Association of Realtors has a book review section where I found a great review of the book. I am thinking I might want to pick this one up. Click Here to read the book review.

Feeling Nosy about DC? MD? VA?

Ok, I know you're probably not planning on moving this very second, but here's this week's list of interesting-looking listings that have just come on the market. Mind you, they may not actually be my personal listings --- just intriguing properties I've come across this week.

Feeling nosy about the District of Columbia?
Feeling nosy about Virginia?
Feeling nosy about Maryland?

If you know someone who might be interested in this list, please forward it on to him or her. And if there's a listing that you're curious about yourself, just let me know ... and I'll show it to you ... just for the hell of it ... no obligation ... *I promise*. Really. (One of the perks of being the friend of a real estate agent ought to be that you get to freely snoop around other peoples' homes!)

Another Huge Auction Coming

As many of you know, in the early spring I attended the Real Estate Disposition Corporation's (REDC) house auction at the Washington Convention Center. There were over 9,000 bidders and I was able to snag 2 investment properties for my own investment group which we turned into successful rental properties. I wanted to let everyone know that REDC is coming back to town for yet another auction. The coming auction is on October 4th and 5th and will again be at the Washington Convention Center. It looks like they have about 450 houses to auction off, with most of them in Northern Virginia.

Looks like there is some good stuff in DC as well, in fact I notice there are big auction signs at the corner of 8th and K Streets NE in SOFLO (South of Florida Avenue). The exact address is 800 K Street NE, it's the big green monster on the corner that backs to West Virginia Avenue, NE. This house has been on the market a while. I have not shown it, but our Buyer Specialist Charlynne has and she tells me that it needs some serious TLC but that the bones are there.



Another one that caught my eye was 300 Oklahoma Avenue NE #201 over in Kingman Park/Hill East neighborhood. They have a starting bid on that OK Ave condo at 49K, not bad, I think you could cover rent on that if you got it under 100K easily.

For more information, be sure to see their website with all the auction listings at www.USHomeAuction.com. You will find auctions all over the country, the link to the DC listings are further down the page. Good luck, and if you want to know more about my auction experience feel free to call me at 202-369-9821 or email me at Michael@RealAstute.com

Feeling Nosy about DC? MD? VA?

Ok, I know you're probably not planning on moving this very second, but here's this week's list of interesting-looking listings that have just come on the market. Mind you, they may not actually be my personal listings --- just intriguing properties I've come across this week.

Feeling nosy about the District of Columbia?
Feeling nosy about Virginia?
Feeling nosy about Maryland?

If you know someone who might be interested in this list, please forward it on to him or her. And if there's a listing that you're curious about yourself, just let me know ... and I'll show it to you ... just for the hell of it ... no obligation ... *I promise*. Really. (One of the perks of being the friend of a real estate agent ought to be that you get to freely snoop around other peoples' homes!)

DC Annual Tax Sale Approaches

The District of Columbia has announced their annual tax sale to being on September 17th. As many of you know, I have sucessfuly purchased property at past tax sales and would be more than happy to advise folks on how the tax sale process works. Feel free to contact me at 202-369-9821 or Michael@RealAstute.com for assistance.

You can find a list of the properties being offered at the tax sale at the District's website at http://www.dc.gov/. Here is some additional information from the http://www.dc.gov/ website about the sale:

District Properties With Unpaid Taxes to be Sold at Public Auction Beginning September 17 (Washington, DC) - The District of Columbia Office of Tax and Revenue (OTR) announced today that it is advertising for sale at public auction more than 3400 commercial and residential real property tax liens, for which property taxes for the 2007 tax year are unpaid. The sale runs 8:30 am to noon and 1 pm to 4 pm September 17-19, at the Government Printing Office, 732 North Capitol Street, NW, 8th Floor, Washington, DC 20401.

Bidder registration for the sale is mandatory and begins on Friday, September 12, and continues until the final day of the sale. To register, prospective bidders must make a deposit of at least 20 percent of their total bid and a $150 Tax Sale fee will be added to each property at the time of the sale. Purchasers are also required to complete Form FR-500, Combined Business Tax Registration Application, prior to registering. The form can be found at OTR’s website at http://www.taxpayerservicecenter.com/ under “Tax Forms/Publications.”

Property owners with unpaid taxes have until the date of the auction to pay any taxes due and avoid having their properties sold. To pay or inquire about the status of a delinquent property, call the OTR Customer Service Center at (202) 727-4TAX (4829) or visit the Customer Service Walk-In Center at 941 North Capitol Street, NE, on the 1st floor.

Last year, 2,082 liens were sold, and a total of $6.7 million in delinquent tax revenue was collected.

Feeling Nosy about DC? MD? VA?

Ok, I know you're probably not planning on moving this very second, but here's this week's list of interesting-looking listings that have just come on the market. Mind you, they may not actually be my personal listings --- just intriguing properties I've come across this week.

Feeling nosy about the District of Columbia?
Feeling nosy about Virginia?
Feeling nosy about Maryland?

If you know someone who might be interested in this list, please forward it on to him or her. And if there's a listing that you're curious about yourself, just let me know ... and I'll show it to you ... just for the hell of it ... no obligation ... *I promise*. Really. (One of the perks of being the friend of a real estate agent ought to be that you get to freely snoop around other peoples' homes!)

Walk Score

Very often when buyers are trying to figure out if they can live without a car I suggest going to the neighborhood and walking around, seeing what is available on foot. Additionally, for folks without cars sometime I will suggest taking the metro to look at houses/condos with them, that way we get a good feel for the walkability of the neighborhood.

The task of deciding if a neighborhood/address is walkable has become much easier with the invention of the website http://www.walkscore.com/. Here you can simply type in the address of your home or office and it will rate the walkability for you and detail all the relevant commercial and transportation options near a given location.

A great new resource for folks thinking of going car free! Again, check it out at http://www.walkscore.com/. As always, for all your real estate needs feel free to contact me at Michael@RealAstute.com or 202-369-9821.

Feeling Nosy about DC? MD? VA?

Ok, I know you're probably not planning on moving this very second, but here's this week's list of interesting-looking listings that have just come on the market. Mind you, they may not actually be my personal listings --- just intriguing properties I've come across this week.

Feeling nosy about the District of Columbia?
Feeling nosy about Virginia?
Feeling nosy about Maryland?

If you know someone who might be interested in this list, please forward it on to him or her. And if there's a listing that you're curious about yourself, just let me know ... and I'll show it to you ... just for the hell of it ... no obligation ... *I promise*. Really. (One of the perks of being the friend of a real estate agent ought to be that you get to freely snoop around other peoples' homes!)