Category Archives: Real Estate

Rezoning Single Family Homes (SFH): MoCo Councilman Riemer Provokes Strong Reaction

I noticed that MoCo Councilman Reimer recently noted an interest in allowing SFH to be rezoned to accommodate duplexes. This idea has already provoked strong reactions – take a look at this comment from Robert Dyer (CEO of Suburban News Network).

What do you think? Is Reimer right to consider allowing SFH’s to be rezoned?

Is the density a boon or a problem for our area?

Or do you agree with Robert Dyer?

Feel free to drop me a note at raj@rajabout.com and we will share the most interesting comments here at Bethesda Actually.

New Renderings for Development that Will Replace Apex Bethesda

Thanks to @RobertDyer here is a link to some rather cool pictures. Of course the height of the proposed building is rather controversial as some folks feel it will accelerate the changing of Bethesda to more of a high-rise/ big city community.

What do you think?

A few key details were reported by Nena Perry-Brown @dcurbanturf:

The approved development from Carr Properties will deliver 360,000 square feet of office space, 14,572 square feet of retail space and 480 residential units. Approximately 60 of those units would be set aside as moderately-priced dwelling units for households earning up to 70 percent of area median income. The residences will be split across two towers linked by a glass-enclosed skywalk. The offices would front Wisconsin Avenue and the retail would front both Wisconsin and the southern portion of the public plaza. A portion of the Capital Crescent Trail is also meant to run through the site.

Investor Article 2017

Hi friends,

I am planning on writing a series of real estate investor articles this year for my client base. I will go ahead and post the ones with some relevance to Bethesda here. The first one, below, looks at the connection between Russian cyber attacks and real estate investment. Puzzled? Well read on and all will be revealed!

 

Russian Cyber Hacking and Real Estate Growth: Washington, DC Metro Market Investor Column 2017

The 2016 election campaign is finally, thankfully, over but as anyone paying attention to the news will know, the fallout continues. While the post-election discussions taking place are animated and wide ranging, there is one area in particular that should be of interest to real estate investors, namely the focus on Russian cyber actions during the election.

Puzzled? Trying to determine why those two subjects should be in the same sentence?

Well, consider what happened to the Washington, DC metro market after the horrific 9/11 attacks; the government massively increased its national security/ military/ intelligence spending and that drove economic growth in the region for several years. This growth had a positive effect on prices and some, including me, would argue allowed the Washington, DC metro market to ride out the Great Recession better than the rest of the country.

Now, post-election, cyber security seems to be positioned as the new “hot” issue for government action. Policymakers of all stripes are starting to recognize that other countries have developed significant capabilities in this area. If past is prologue, the natural response will be to dramatically increase spending to ensure that the US is the dominant country in the cyber/ national security space in the years to come.

Some commentators may be surprised at the suggestion that cyber security growth will take place in the Washington, DC metro area and not in Silicon Valley or even some of America’s emerging tech hubs. First, I do not want to suggest that there won’t be growth in those areas, clearly there will be. However, the DC metro area already has a thriving tech industry (it has been called the Silicon Valley of the east for a number of years) and can collaborate on cyber security with its neighbors in government/ intelligence and the military. This geographic proximity and intersection, combined with a highly educated workforce, ensures the DC metro market is perfectly positioned to lead the cyber actions job revolution. My belief, shared by others, is that the leadership in this sector will come from the DC metro area.

As the funding increases and these jobs come online (literally and metaphorically), the pressure on housing and house pricing will grow. The beneficiaries of this uptick in economic activity should be real estate investors, home owners and others involved in the real estate sector.

Of course, as in life, nothing is guaranteed and there are details to be parsed out, but I believe that the connection between cyber security and real estate growth should be looked at closely.

Warmly,

Raj

This note is part of an occasional series of investor related pieces that I produce for clients and prospective clients. I appreciate receiving feedback and welcome the opportunity to discuss any aspect of the US real estate market with you or individuals in your network. I can be reached at (240)486-3921 or raj@rajabout.com

All information in this paper (and the associated series of papers) is presented in good faith but its accuracy is not guaranteed. The author, Raj Purohit, is a licensed real estate salesperson in Virginia, Maryland and DC, and is not an attorney (in DC, MD or VA), accountant, financial or tax advisor. The information in this paper should not be used to influence any investment decision. Before making any investment decision, you are advised to consult with legal, financial and tax counsel.

Snow and Ice Pictures

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The past weekend was incredibly cold and we had our first real snow of the season – above are a few pictures of the building site across from the Gallery Apts (you can also see the Whitehall in the background as well as the former site of Tough Temple Cross Fit). Feel free to share your pictures of snowy, cold Bethesda by emailing: raj@rajabout.com

Next Week: Condo Review

Hi friends,

As you know I work in residential and commercial real estate. From next week I will be writing a weekly post on the condo options for Bethesda (with a focus on the downtown area). If you would like me to focus on a particular building/ tackle a specific issue, fee free to drop me an email at raj@about.com

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Bethesda Will Continue to Change

 

 

 

 

I suspect that this view from Triangle Towers is going to look very different in the months and years ahead. Notice the Whitehall condos in the background, in front you see several residential and commercial low rise developments.

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Where is North Bethesda?

I jest of course but as a real estate professional I do get this question from time to time.

Our friends at Bethesda Magazine explored the question in a recent article which make for a fun read and discussion!

Greening Bethesda

The recent Bethesda Green awards gala was an opportunity to showcase good, green efforts in the community via their green awards ceremony. We were happy to see that TD Bank and Bell Nursery co-won the leading by example awards for business:

“TD Bank on Old Georgetown Road and Woodmont Avenue in Bethesda and Bell Nursery, with a location in Silver Spring, were co-winners of the Leading by Example Award for businesses. TD Bank uses solar panels, a green roof, ivy walls and recycled products to make its building and business as green as possible. Bell Nursery, which supplies flowers and plants across the Mid-Atlantic, has continued to work with Home Depot to recycle millions of plastic pots. The company also has converted two of its facilities entirely to wind power and has promoted the production of native plants.”

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Niche.com ranks Bethesda No. 89 Nationally

Congratulations to all of the people who make Bethesda their home. Niche.com ranked Bethesda No. 89 nationally in a very detailed study on the top 100 places to live across the country (see here for a searchable site).

Their methodology includes real estate (yay) and a whole lot more besides:

The 2016 Best Places to Live ranking provides a comprehensive assessment of the overall livability of an area at the place level. This grade takes into account several key factors of a location, including the quality of local schools, crime rates, housing trends, employment statistics, and access to amenities in an attempt to measure the overall quality of an area.

It is also important to point out that 11 neighborhoods in Montgomery County made the top 100 list. Congratulations to all their residents!

My day job, as regular readers know, is that of a real estate agent (licensed associate broker in MD and licensed agent DC and VA) and I am very happy to discuss these, and other local neighborhoods, with folks thinking about moving to our area. Feel free to give a call at 240 486 3921.

Cheers!

More Construction Outside the Gallery and Triangle Towers

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