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Simone Bercu, Montgomery Co, MD Real Estate, CRS, GRI, e-PRO, Assoc. Broker

Ayrlawn, Bethesda Market Update

Ayrlawn, Bethesda is located West of Old Georgetown Road and North of Greentree Road. Presently, there are only 4 homes on the market. Two are the older 3 bedroom Capes, and one is a 4 bedroom Contemporary. These homes are priced from $579,000 to $725,000.

There is one newer home built in 2003, with 6 bedrooms priced at $1,298,500.

In the last 30 days 1 home priced at $1,230,000, has gone under contingency contract within 17 days!

Ayrlawn absorption rate is 4 months. This is practically a seller's market.

Smoker moves in, should the allergic person sell his townhome?

Today, as I popped-by a few of my friends and clients, I learned that one of my friends and his fellow townhouse neighbors are having a serious problem. Recently a smoking buyer moved in and his smoke is getting in through the cracks in the walls to others non-smoking homes. My friend does not live right next to the new owner, but the family that suffers from allergies does. They are thinking of moving because of this problem.

I promised to ask advice from my real estate blogosphere community.

If you were in this situation, what would you do?

I joined Facebook and Twitter. Linkedin is next.

I did it! I decided to join Facebook, Twitter and Linkedin after I attend today's CRS seminar on social media. Gee Dunsten gave a great presentation. He recommended spending only 20 minutes a day. How does he do that?

I could not wait to get home and start working on the profiles. When I got home, I found an invitation to join Twitter from a friend. It all seems like being in another country, as I have no idea how these things work. I am sure I will figure it out pretty fast.

Four hours later, when an office collegue found me on Twitter and asked what I was doing, I responded and the smile on my face was so big! I felt so proud of my "big" accomplishment.

Life is good!

Leisure World Absorption Rate...Why So High?

Since, I have no offer on my great value apartment in Leisure World, I thought I should check the absorption rate again.

As of today, it is 22.25 months!

I would like to know why it is so high compared to other Montgomery County communities. I thought the reason is the age restriction. Others are saying that Leisure World prospects are having a tough time selling their homes.

My advice to all these prospects: Listen to your agents and price competitively, then your home will sell much faster. You can then move to a gated community with lots of amenities for a very low price!

Defaulting on your mortgage? How about not trashing the home?

Yesterday, I showed 8 homes of which only one was not a foreclosure. The abuse of these properties was just awful! I have been avoiding foreclosed properties as much as possible for a few reasons.

1. I believe one can get a better deal buying from a responsible long term home owner with lots of equity in the home.

2. I think the good deals in a foreclosure or short sale are snatched by the professional investors before they get to the market.

3. I cannot stand looking at the trashed homes and worry about the extent of the damage.

4. By pricing them low, agents create a bidding compettition that leads to over paying.

This leads me to the questions I would like to ask owners who defaulted on their mortgages and trashed their homes: Why did you have to destroy the home, after not paying your mortgage? How could you strip the home and trash it? Did your parents not teach you respect for property yours or others? To me this is vandalism and worse.