Take a Tour of 1305 Potomac House

Ever wondered what it would be like to live in the Potomac House? Tour the building with me today.
 

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Today I’m going to take you on a tour of the Potomac House in Georgetown. The Potomac House is a great place to live and there are a lot of things to cover, so here is a quick rundown of everything you need to know: 

1. A closed loop security system covers the entire building. However, you should still be careful when letting people in. 
2. The Potomac house features regular trash and recycling services. Cardboard boxes must be broken down and put in recycling. 
3. All residents get three keys: the key to the front door, your unit key, and your mailbox key. 


The Potomac House is a great place to live.
 
4. The foyer has designated mailboxes and an area for incoming packages. 
5. There are fire extinguishers and fire alarms on every level. The lower level also has sprinklers in case of an emergency. 
6. The setup is very similar in all units. 
7. Each unit comes with a radiator and window A/C unit. You have to wash the filters for the A/C unit. The radiator heat is a management paid expense. 
8. When you move in, management will make sure that none of the drains are clogged.
9. The kitchens come with gas stoves and a garbage disposal. There is a garbage disposal below the sink, as well as a red reset button on the bottom of the disposal. 
10.  Every unit has a fire extinguisher in the kitchen. 
11. The fuse box is also in the kitchen. Emergency information is all located on the front of the fuse box. 
12. All work requests can be done directly through the website portal that you will receive upon becoming a resident. 

That is just a brief overview of all this amazing building has to offer. To get the full experience, make sure you check out the above video. 

If you are interested in living at the Potomac House or if you have any other real estate questions for me, please don’t hesitate to give me a call or send me an email. I would be happy to help you!

A New Listing Tailor-Made for Investors

I have a new listing at 2006 10th street that’s ideal if you’re looking to invest in multi-family properties.
 

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I’m pleased to be able to show you one of my new listings located at 2006 10th Street, right on the corner of 10th and U and less than a block from the Metro. Check out the video above for an in-depth, guided video tour of the entire interior. 

This listing is ready for investors.

This property is a three-unit apartment building listed for $1.3 million. The three units consist of a 2-bedroom, 2-bath penthouse with a spectacular rooftop, a main-level 1-bedroom, 1.5-bath multi-use unit that you can convert into commercial space based on zoning, and a lower-level 1-bedroom studio. 

The building was built in 2015, so it’s turnkey and ready for investors. If you’re interested in investing in multi-family properties or have any questions regarding this listing, don’t hesitate to reach out to me. I’d be happy to speak with you.

What Are the Tax Benefits of Owning a Home?

Owning a home comes with some major advantages when it comes to your taxes.
 

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Owning a home comes with many benefits, especially when it comes to your taxes. It’s especially true for anyone thinking about buying their first home. 

Let me start by saying that I’m not a tax professional, but I’ve sold my fair share of homes, and I’m pretty proficient in this area.

The biggest tax advantage of homeownership is tax and interest deductions.

For starters, when you sell your principal residence, you can claim up to $250,000 tax-free as a single person. Married couples can claim up to $500,000 tax-free. This is a huge bonus that allows you to take advantage of appreciation over time. 

However, the biggest advantage is mortgage interest and real estate tax deductions. Say you owned a $600,000 property that you put down 20% on with a 4.25% interest rate. You’d pay $20,244 in interest the first year, which you can write off against your income. If you’re in the 33% tax bracket, the actual savings amounts to $6,680, or $556 a month. That’s an advantage you don’t get as a renter.

If you’re an investor interested in taking advantage of the 1031 exchange before it’s gone, I’d love to sit down and speak with you about the potential tax benefits you could utilize. 

If you have any other questions about the tax benefits of owning a home or you’re thinking about buying your first home here in the D.C. area, give me call or send me an email. I’m here to help.

The Election’s Impact on Home Values

I’ve been fielding a lot of questions from people recently. The thing people want to know about most is what effect the new president will have on interest rates.
 

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I’ve been getting a lot of questions lately about what’s going to happen to real estate values now that we have a new president. The short answer is there is going to be little impact, but here’s why.

There are roughly 32,000 jobs tied to the political arena. Additionally, 24,000 of them are located on Capitol Hill. Of those 24,000, 9,000 are considered nonpartisan jobs. They are there year round, no matter who is in place as leader. The remaining jobs are staffers who are not in a position to buy something. In the end, you have about 2,250 people who are qualified buyers that will be looking in the area.

Even though people are leaving with the old administration, there are people coming in with the new one. In this type of turnover in the past, we haven’t seen an exceedingly high supply. There is a net gain and a net loss. The policies put forth by the new president are what will have a large and lasting impact

We are going to see more increases in interest rates.

Based on indicators in the marketplace, we are going to see an interest rate increase this month and maybe another one soon after. You need to be prepared for those higher rates if you’re thinking about buying. A rise in rates will affect your buying power and the type of home you can afford.

Keep in mind that right now, interest rates are historically low; under 4%. Don’t be concerned about them going up, as this is a normal part of what looks like an improving economy. It’s just something to be aware of moving forward.

If you have any questions for us, don’t hesitate to give us a call or send us an email. We look forward to hearing from you.

How the New Radon Testing Guidelines Impact You

If you’re a seller, there are new radon testing guidelines about to take effect that could have a significant impact in how you list your property.
 

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The new radon testing guidelines of Montgomery County impact sellers more than buyers, but it’s still important for buyers to understand their rights based on the new real estate transaction process.

Under the old law, there was a radon contingency in the contract stating that buyers had the opportunity to conduct a radon test and, based on those results, either request remediation from the seller or have the ability to walk away from the transaction.

The new law requires that within one year of the date of settlement, the seller must provide radon testing results of the property to the buyer, allow the buyer to be able to conduct the test themselves or allow the buyer to mandate that they conduct the test. In essence, the seller is responsible for paying for and conducting the test. This doesn’t mean that the seller must remediate if the radon levels come back higher, but it does mean that they have to provide the tested results in their disclosures to all parties interested in buying the property.

The new guidelines took effect on October 1st.

These new guidelines took effect on October 1st of this year. Anybody who owns a single-family or fee simple property will be included in this. REO properties, foreclosures, estate sales, condominium properties, and co-op properties will be excluded, however.

There are additional guidelines that apply to this rule regarding the logistics of how you can conduct this test and how it affects the way you list your property, so it’s important to work with a Realtor who knows what they’re talking about and is informed about the most recent changes to the law to make sure that you’re protected when it comes time to conduct your business.

For more information, you can visit our website at www.scottsachs.com where I will have a link posted with additional radon regulation rules, here. I will also have a list of the approved radon testing devices you can use or pay someone else to use prior to listing your house.

Check Out This Newly Remodeled Townhouse

I have a new listing I would like to show you. It won’t last long, so take a good look at it if you think you’re interested.
 

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I’m standing just outside my new listing at 1913 11th St. NW, Washington, D.C. 20001. This townhouse is a total gut renovation that’s been contemporarily remodeled with a sleek new design. It now features a spacious open floor plan, four bedrooms, 3.5 bathrooms, and a rooftop deck with a gorgeous view.

This townhouse is a total gut renovation with a sleek new design.

This one’s going to go fast, so check out the video above to get a better look. Inside the 1,594 sq ft interior, you’ll also notice things like the dramatic entry with the restored brick walls and the kitchen lined with quartz countertops.

If you would like to know more about this property or have any other questions, feel free to email me or give me a call. I look forward to hearing from you!