Category: Real Estate

Downtown Silver Spring Office Complex Sold to Atlanta Group

The Station Square office complex in downtown Silver Spring was sold last week to Atlanta-based Bridge Office Fund Manager LLC, according to a company press release. The complex includes three buildings—1100 Wayne Ave., 1010 Wayne Ave. and 8484 Georgia Ave.—with a total of 510,200 square feet of Class A office space close to the Metro and the future Purple Line stations. Bridge Office plans to invest more that $12 million in renovations to the buildings, which were built between 1982 and 1987, the company said. Changes include revamping the courtyard and entrance to 1010 Wayne Ave. and a co-working...

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Clearing Out Closets and Packing Up

So these fall and winter months have brought out a surprising number of people looking to buy a home in Silver Spring. Some have been renting and are now buying their first home; others are looking for more space in a nearby community. Usually, this time of year is slower as kids are settled in school and the holidays have us entertaining and shopping. One thing I hear a lot is how daunting it is to imagine clearing things out of their current home that are packed away in closets and storage—things that haven’t been used for years, and...

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If Only We Had a Crystal Ball

We’ve all heard or read expert opinions by economists that there could be an economic downturn or recession in the 2020 time frame. The Washington area is never affected as hard as the rest of the country, as government and professional support jobs continue to remain viable. I reached out to a Travis Vollmerhausen, a mortgage lender with First Home Mortgage, to see what he would advise for those thinking of buying or selling their home, given what could come. “There’s always a risk in waiting. Every situation is different, but if you’re fiscally conservative, it would make more sense...

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The Benefits of Fall Home Buying

Our Silver Spring housing market is resilient, as the metropolitan area is driven by core industries of government, such as defense, federal contracting, professional services and engineering. The federal government is a stabilizing presence within the region, which makes us more resistant to economic downturns than other regions. We also show higher incomes, education levels, population growth and share of millennials. In our area, walkability, community amenities and access to the Metro are sought after. Fall housing is showing homes priced at $400,000 to the mid-500s continuing to come on the market in late October. In the last week,...

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Home Buying Cents—Stick to Your Budget

Buying a home can be overwhelming on so many levels. So many options. So many questions, and the pressure is often on to decide quickly or lose the home. I often hear, “Is this the right location? What renovations could we do and how much will they cost? Will this home appreciate to exceed those improvements or additions? Are the schools good? What is my commute time going to be?” A necessary place to start is to create your home purchase budget. By working with a mortgage lender, you will be able to assess your monthly budget and what...

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