Radon Testing Now Required in Most County Sales

As of October, 2016, Montgomery County law requires that a detached single-family and townhouse located in the County must be tested for radon before completing a sale of the home. The law does not apply in the sale of certain home sales, e.g., REO sale, tax sale, and administration of a decedent’s estate.  The law requires the seller to perform the radon test, or permit the buyer to perform the radon test. If the seller offers the buyer the opportunity to do the test, and the buyer chooses not to, the seller must perform the test to meet the statutory requirement that a test be performed. Both the seller and the buyer must receive a copy of the results of the radon test.  The test may be done by the seller, buyer, or third party (for example a home inspector or radon testing professional) using a testing device approved for use by the County. This law requires reporting radon results, but does not impose contingency requirements in the contract.
In drafting sales contracts, care and thought must be given to the implications of this law. For example, if a buyer neglects to make the contract contingent on radon inspection, the buyers may end up with a radon report with bad results but, have no recourse against owner to remediate the problem! For more details call me, or see Radon GCAAR Article

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Update on Kemp Mill Urban Park Renovation

Kemp Mill Urban Park, located at the entrance to Kemp Mill Shopping Center at 1200 Arcola Avenue, is about to undergo major planned renovations.
A focal point of this 2.7-acre park is the water fountain in the center of the pond. Other features include a play area, a gazebo, a basketball court, and an area to play ping pong.
The reconstruction of Kemp Mill Urban Park will begin the week of February 15th with the installation of a tree protection fence and a construction fence to close the park off. The reconstruction is planned for 13 months.

For planning background on this project and its relation to the neighborhood, see Park Planning DocumentsKM Urban Park
KM Park 2

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Montgomery County Sales for November 2015

Montgomery County Breaking News: Market Report for November 2015 Sales Prices and Sales Volume are Both Up from Nov 2014. My Snapshot of Montgomery County Market Shows: Sales Volume in November 2015 was up 13.81% relative to November 2014 (857 units versus 753 units). Average price was up 4.74% ($504,492 versus $481,656). Days on the Market (DOM) was steady at 57 in both 2015 and 2014.
To See Detailed Map search
A new Monthly Report is issued around the 12th Day of each month. For a full report check out Market Snapshot

Montgomery County Sales Nov 2015

Montgomery County Sales Nov 2015

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Market Slows: Sales Volume Down, Prices Down and Days on the Market Up

A Quick Snapshot of Montgomery County Market: Sales Volume in October 2015 was down 4.77% relative to October 2014 (880 units versus 924 units). Average price was also down 4.16%. The slowing of the current market was also reflected in that Days on the Market (DOM) was higher in 2015 than in year before, 64 DOM versus 56 DOM in 2014. This shows that the pace of sales is taking longer in this year’s market. Despite this recent downturn in October, over the summer things were moving. In fact, if we look at the preceding 90 day period (JUL 25-OCT 20) for each year, then Sales Volume was actually up 10.89% while Average Sales Prices were essentially unchanged at -0.25%. A new Monthly Report is issued around the 12th Day of each month so, December should be forthcoming soon. For a full report check out www.ciment.com/monthly-market-snapshot

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Sales Volume Up and Days on the Market Up

Montgomery County sales volume in March 2015 was 15.6% above March 2014 (860 units versus 744 units). Average price was essentially unchanged. However, there was a decided difference in Days on the Market (DOM) which was much higher in 2015 than in year before, 75 DOM versus 55 DOM in 2014. This shows that the pace of sales is taking longer in this year’s market. If we look at the preceding 90 day period (Jan 11= April 11) for each year than sales volume was up 6.8% while average sales prices were down 2.4%.

For a full instantaneous report check out www.ciment.com/monthly-market-snapshot

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Team Update March 18, 2014

This has been a productive week for the Barbara Ciment Team

Helping Sellers, Buyers and Renters:

1. My Listing just went Under Contract 11317 Crescendo Place Silver Spring 20901

2. My Listing is going to closing Thursday 10414 Huntley Ave, Silver Spring 20902

3. Represented Buyer in closed sale 10730 Horde St Silver Spring 20902

4. Listed Beautiful Condo in Leisure World Vantage Point East #108

5. Represented Buyer going to closing Friday 8552 Pineway Ct, Laurel MD 20723

6. Settled My Listing 1111 University Blvd W #1015

7. Helped a Renter 11019 Oakwood St 20901

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Despite a colder winter, Montgomery County sales volume was up 6.9% and Days on the Market was down in Jan ’14 versus Jan ’13. Prices were also up 6%. For more details see my Monthly Market Snapshot Report or, you can wait until April for the Washington Post Report.

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Montgomery County MD Sales: All Positive Signs for Sellers

I just used my proprietary software to compare the recently closed out 3rd Quarter 2013 (July-Sept) to 3rd Quarter 2012 and the results are very informative of the new market condition in Montgomery County, MD!
Montgomery County (MoCo) Sales Volume for this third quarter is up an amazing 20% while prices are also up 6.9% and Days on Market (DOM) has dropped from 61 Days to 39 Days.

MoCo Sales Volume (units) is up so dramatically that inventory has sold out and inventory has dropped by 37% from last year at this time. DOM is down even more sharply for Silver Spring from 69 Days in 2012 to 41 Days in 2013. This is a leading indicator that the Silver Spring Market has improved.

This is all good news for sellers and interest rates are still quite low. The tables seem to have turned into a seller’s market.

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Market Rising Steadily

The monthly Case-Schiller residential sales report that spans 20 major metropolitan areas showed that home prices had risen at the fastest pace in over 7 years at 12.4%. Their data reports on May-July 2013. For a good summary and a worthwhile article see, Wall Street Journal

My web site provides even more current analysis of August 2013 just for Montgomery County, see My Monthly Market Snapshot ReportIt shows that in that month alone prices increased by 9.9%.

Even more current, I am now working on my October Newsletter and looking at early returns of Montgomery County for the Third Quarter ’13 (July-September 2013). With 5 more days to go in September, volume is already up 9% and prices are up over last year’s 3rd Quarter by 8.7%. The market may be cooling from May-July pace but, it is rising steadily now.

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Automated Alerts on Ciment.com

We are in the process of automating listing alerts so that any Registered User of ciment.com can Save a Search and associate an Alert for that Saved Search. We apologize for some transition traffic that may have sent you extra alerts for listings that were actually unchanged. This happened because it was hard to transfer log-ins along with their history.

From this point on you should only see alerts when Updated listings are either New or had a Price or Status Change in accordance with your personal saved search parameters.

Alert Feature Added

  • The Most Informative Alerts in Real Estate
  • Drill down to Subdivisions or Expand to City

Register on our our web site and save a search you like and then just click on Alert and you will be updated on changes.

You will receive an alert when listings in your search area are New or had a Price or Status Change from last alert!

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