Montgomery Village, MD 11/07/11

Like much of our country the Montgomery Village Real Estate market is struggling.  The only real POSITIVE for the month of September is that the MEDIAN SOLD Price has increased.  This is a sign that change is coming.  With mortgage rates and Sale Prices at an all time low – the TIME TO BUY IS NOW!

Here are the Real Estate Statistics for Montgomery Village, Maryland for September 2011.

A number of large companies call Gaithersburg home including IBM, Lockheed Martin, MedImmune, Sodexo and the National Institutes of Standards and Technology (NIST).

The greater Montgomery Village area encompasses many small and large communities, and housing ranges from apartments, condos, luxury townhouses and moderately priced homes; large estates on several acres and compact track homes all make up the Gaithersburg community.

Montgomery Village centers around a large man-made lake and now includes a golf club, Lakeforest Mall and smaller centers for shopping and gathering with friends.  The many houses, townhomes and apartments in Montgomery Village offer a wide array of living accommodations for residents of Montgomery County.  The Montgomery Village Athletic clubs such as volleyball, wrestling, and soccer rival any in the county and have the reputation for producing star quality athletes.  Montgomery Village is a great place to call home.

Market data and commentary provided by Kathy Fleskes, Managing Broker, and Serena Toro of the Rockville Regional Office.

Search for homes in Montgomery County, and all of the DC Metro: www.averyhess.com

Glen Echo Gives Visitors Nostalgia

On the outskirts of Washington, D.C., just over the border in Northwest, lies a place that will take you back decades.

Glen Echo Park, in Montgomery County, Maryland, was originally built in 1891, conceived as a Chautauqua, a location for an adult education movement that was sweeping the nation, a place were people would take classes in religion, dancing and entertainment.

In the park, Chautauqua classes were held in a stone building, completed in 1892. Shortly thereafter, the area expanded, adding an amusement park.

In the early 1900s, Glen Echo had a roller coaster, a large pool, a movie theater, a shooting range and an arcade.

In 1968, the amusement park closed, but Glen Echo remains. It now serves to entertain children and to offer adult education classes, making it still well worth a visit.

The park is very easily accessible, on MacArthur Boulevard, just off the Beltway. And a trip can be an enjoyable affair for the entire family.

Going into Glen Echo, you’ll see an old, retired street car parked out front, remnants of the old trolley system that took D.C. natives to the park.  The sign above the trolley evokes 1950s nostalgia, with rounded block letters spelling out Glen Echo Park.

The most popular attraction at Glen Echo is mainly for children. Just south of the entrance is one of the park’s original rides, the Dentzel Carousel. Originally built in 1921, the carousel harkens back to olden days.  Now, it is only open from Father’s Day to the end of September.

Its hours are also restricted. In July and August, it’s open on Wednesday, Thursday and Friday from 10:00 a.m.-2:00 p.m. On Saturday and Sunday, the carousel is open from noon to six p.m. It’s closed the rest of the year.

A ride costs just $1.25. It’s worth every penny to see the inside. The carousel recently underwent a full renovation, and it is now restored to its original 1921 splendor. The horses on the ride are all hand-carved, intricate figures that showcase great detail and depth. It’s one of a kind in this area, and can really be a delight for kids and adults alike.

Although the carousel is the only ride that remains in service from the Glen Echo’s amusement park days, signs, entrances and buildings remain from many of the old attractions.

Walking around the park, you can see the entrance for the old Crystal Pool, the Candy Corner and the bumper car pavilion, which has now been converted to an open air ballroom.

On the park’s premises you’ll also find the Clara Barton House, a museum dedicated to the life of Clara Barton, founder of the American Red Cross.

The large yellow house was built in 1897, using lumber leftover from a flood in Johnstown, Pennsylvania. Barton lived in it the last part of her life, and established the headquarters of the Red Cross there. Now, visitors can tour it and see her home and artifacts from her life.

Glen Echo Park also hosts a robust art and adult education program, offering classes in the former amusement park buildings. For art lovers, the depth of classes is astounding, from basic ceramics and pottery classes to advanced forms such as glass blowing and silver smithing.

Alongside its art program, Glen Echo offers dance classes, music lessons and a theater and puppetry program. Over the summer, they also offer a large children’s program, with similar classes aimed at youths.

So whether you’d like to indulge in a lesson to learn a new skill or trade, or you just want to stroll in an area that evokes a much simpler time, Glen Echo Park is the place to visit. There’s nothing else like it in Washington.

- David

Montgomery County, MD 5/09/11

Buyers, if you are thinking about making a Real Estate purchase, the time to buy is NOW!  I know as a potential buyer, you may have heard this before – but I am looking at the statistics for Montgomery County, MD and these numbers are slowly improving!

Total Sold Volume for last month is up 1.83% over this time last year and up 66.39% from February.  With the Average Sold Price up 15.55% to $450,671, I can’t see prices dropping back down anytime soon.

The bottom of the Real Estate Market in Montgomery County has come and gone.  If you are one of those savvy buyers waiting for just the right time – I would have to say the time is now!

Looking for some fun outdoor activities to do this spring in Montgomery County?

One of my favorite places to explore, on a beautiful spring day in Montgomery County, is Brookside Gardens. Take a leisurely drive out Georgia Avenue to Wheaton to visit the Brookside Gardens.

Once there you will experience a magical visit filled with award winning gardens that take up 50 acres in Wheaton Regional Park.

A variety of educational programs for both adults and children are offered at Brookside Gardens.  The adult programs include lectures, guided walks, bus trips and workshops while the children’s programs include story times, hands-on activities, educational games, classes and summer camps. 

Admission to Brookside Gardens is free.  Can’t ask for more than that!

Market data and commentary provided by Kathy Fleskes, Managing Broker, Rockville Regional Office.

Search for homes in Montgomery County, and all of the DC Metro: www.averyhess.com

Silver Spring, MD Market Report – 4/05/11

Silver Spring, Maryland is certainly SHINING!

Like the beautiful city itself, housing in Silver Spring is seeing some shiny spots – despite all the doom and gloom the media is continually throwing at all of us.

The Real Estate market statistics for zip codes 20905 and 20912 are moving in the right direction.

Zip code 20905 has a Total Sold Dollar Volume up +75.49% to $3,694,000.  The number of Closed Sales versus this time last year is up 80%. This is a tremendous upswing!

Another big mover in Silver Spring is the 20903 zip code. Sporting a Total Sold Dollar Volume of $2,347,900, this number is up +265.72% in comparison to February of 2010.  Closed Sales are up +266.67% and the Median Sold Price is $230,000.

I am really excited to see what the Spring Market will bring. Improvements all around have me saying the Real Estate Market in Silver Spring, Maryland is definitely shining!

More About Silver Spring, MD:

Silver Spring is a suburb of Washington, D.C. with both urban and suburban areas.  With a community of over 76,000 people, Silver Spring is a happening place.  Its borders run as far north as Burtonsville, south to the dividing line with the District of Columbia and west to Chevy Chase and Rockville.  Silver Spring is located on the Red Line of the Metro system and the Silver Spring stop is the most used station in Maryland.

Looking for something to do outdoors this spring? Silver Spring has many amazing parks to explore:

Rock Creek Park which passes along the west side of Silver Spring, offers hiking trails, picnic grounds, and bicycling.  On weekends, its main road, Beach Drive, is usually closed to motor vehicles.

Sligo Creek Park follows Sligo Creek through Silver Spring and offers hiking trails, tennis courts, playgrounds and bicycling. On weekends, parts of Sligo Creek Parkway are also closed to motor vehicles.

Jesup Blair Park is a 14.5 acre park that has recently been renovated. In the park you’ll find a soccer field, tennis courts, basketball courts and a picnic area.

Wheaton Regional Park is located in “greater” Silver Spring and includes covered tennis courts, an ice skating rink, baseball fields, playgrounds, picnic areas, stables and Brookside Gardens, a 50 acre park with arboretums, nature center and magnificent gardens to stroll through.

Market data and commentary provided by Kathy Fleskes, Rockville Managing Broker.
Search for homes in Silver Spring, and all of the DC Metro: www.averyhess.com

Montgomery County, MD 2/14/11

Montgomery County is Maryland’s most populous jurisdiction and its most affluent. The County is located adjacent to the nation’s capital, Washington, D.C., and includes 497 square miles of land area. The topography is rolling with small hills. Elevations range from 52 feet above sea level near the District Line to 850 feet in the northern portion of the County near Damascus.

The first segment of the long debated/long awaited Inter County Connector between 370 and Georgia Avenue in Olney will be opening on February 22.   The Olney area itself is undergoing big changes with new restaurants like Green Turtle, Five Guys, Chipolte and Panera either open or opening soon and the upscale grocery store Harris Teeter is set to open in the spring. This is one of THE places to live in the county!

The real estate market in the county is showing improvement over 2010, sales are up as are listings and the average sale price.  We are still seeing a fair amount of new construction throughout the county and the prices for these new homes are well within the reach of current buyers.

Looking at Montgomery County last month (January 2011) I see many positives.   If we compare January 2011 with January 2010 improvements can be seen.  With an Average Sold Price of $440,671, which is up +9.06% over this time last year and the number of homes Under Contract/Pending Sales up 14.05% to 1070, I see recovery ahead.

This is certainly relevant information. But if you’re trying to decide whether to buy a house, its value can seem limited.

Home prices have fallen a ton in the past few years. Does that mean real estate is a bargain now? I think it is.  Especially, if you are renting and living in Montgomery County rents just keep rising – while the cost of purchasing has gone down.  We are at the bottom folks.  The time to buy is NOW!

Market data and commentary provided by Kathy Fleskes, Managing Broker, Rockville Regional Office.

Search for homes in Montgomery County, and all of the DC Metro: www.averyhess.com

Montgomery County, MD 12/13/10

Montgomery County is a vibrant, bustling area, just minutes from Washington, DC by car or Metro.  The schools in the county are among the best in the nation.  The close proximity to Washington, DC and the Federal Government make it a desirable place to live and work.

Overall Montgomery County’s Housing Market is well on its way to a slow but sure recovery.   The Average Sold Price of $468,000 is up 16.15% from November of 2009, and up 5.31% from last month.  There were 697 homes that SOLD which is slightly more than last month(2.95%).

Here is another bit of good news.  The average Sold Price to average List Price Ratio is 93.09%.  Of course I would rather see 98% (or even 100%) of List Price but 93.09% is not bad at all!  With interest rates still at a historic low it is a great time to Sell or Buy Real Estate in Montgomery County!

Market data and commentary provided by Kathy Fleskes, Managing Broker, Rockville Regional Office.

Search for homes in Montgomery County, and all of the DC Metro: www.averyhess.com