Category: Real Estate

Discovery Sells Silver Spring Headquarters Building

Photo of Discovery’s headquarters with the famous Chompy by Flickr user and ©GlynLowe.com, published under a Creative Commons license. Discovery Communications has sold its headquarters building in downtown Silver Spring, according to reports. The buyers are a joint venture of Foulger-Pratt, based in Potomac, and Cerberus Capital Management, a New York private investment firm, reports WTOP. The radio station cites the Washington Business Journal, which broke the news in a subscriber-only story, as saying the price was $70 million. WTOP also quotes Cameron Pratt, chief executive of Foulger-Pratt, saying, “When the opportunity to purchase such an iconic, centrally-located building...

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Reinventing Yourself through Downsizing to Condo Living

Guest post and photo from Melinda Schnare Many people I meet are thinking about downsizing from their large, beautiful homes surrounded by tall trees and green grass to a condo. My first question is, “Will you be able to live without gardening, working with soil and watching your plants grow?” They ponder the question and then say, “Yes! What I want now is…easy.” Then they go on to describe their new life. A smaller space that is maintenance free, close to the metro with high “walkability” scores. They are seeking spontaneity, and the ability to walk or Metro to...

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Discovery to Lay Off More Than 200 in Silver Spring Office

Photo of Discovery’s headquarters with the famous Chompy by Flickr user and ©GlynLowe.com, published under a Creative Commons license. Discovery Communications will lay off more than 200 workers in its downtown Silver Spring office, according to several reports citing a state workforce adjustment filing. First reported by the Washington Business Journal, the move will affect 212 workers, effective Oct. 1, as the company prepares to relocate its headquarters to New York City and sell the Silver Spring building. The sale was announced in January, and a July report in the Washington Business Journal, said locally based Foulger-Pratt Co. and...

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The Charmed Silver Spring Bungalow

Guest post and photos from Melinda Schnare. Photo above is prior to the renovation of the outside of the bungalow. Walking through my neighborhood in North Woodside, or when I’m out and about driving, it is often the bungalow’s charm that gives me pause, imagining what the inside looks like, admiring how nice the outside is. I asked my good neighbors what it is like to live in their 1920s Craftsman-style bungalow. They told me that when they found their bungalow that it was not very welcoming. The years had not been kind. Painted a dark rustic brown, weeds...

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Demand for Homes Exceeds Supply

Guest post and photo from Melinda Schnare You’ve probably been a part of a housing market conversation where you’ve heard “inventory is low.” Here are the numbers for the supply of homes and the demand (buyers looking for homes), compared to last year. Closed sales at the onset of summer (June) dipped below last year’s level by 6.9 percent. Active listings were far below last June’s active listing total of 2,760 (-9.5 percent). Half of the homes sold in June were on the market 11 days or less. Many homes that are moving quickly have kitchens and baths updated,...

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