Walter Reed Patients Find New Home in Bethesda

It’s been in the works for six years, and this summer the transition will finally take place. Walter Reed Army Medical Center will close and its patients will move to Bethesda's Navy Hospital starting in July. Navy Med has been rehearsing the transporting and unloading of patients to be better prepared for the actual move.

The largest group, about 1,500 employees and 600 outpatients, will stagger their relocation throughout the summer.  Any new outpatient appointments will be handled at Navy Med, not Walter Reed, and staff will move to Bethesda with the patients they support. Walter Reed’s 150 inpatients will be moved by ambulance sometime in August.

As these new patients arrive, Navy Med’s numbers will roughly double from 150 inpatients and 600,000 outpatient visits to 300 inpatients and about 1 million outpatient appointments. This increase in numbers is not without some angst for Bethesda residents, as the community is a next-door-neighbor to the Navy Med.

The East Bethesda Citizens Association has acknowledged that traffic will be difficult in the first few months of transition, and they’ve already seen an increased number of non-resident cars parked on neighborhood streets. While that might not be due to Navy Med, it’s still possible that those who don’t want to sit in traffic at the hospital gates might park in Bethesda and walk to the hospital. It’s hoped that residential parking signs will eliminate this problem.

It will take a bit of time, but everyone is hopeful for a happy co-existence once the transition is complete.

If the Walter Reed transition has you moving to Bethesda, I can help you find a wonderful home. Contact me, Mynor Herrera,

today for expert help buying or selling in the DC, MD, & VA areas! I also specialize in Bethesda and Chevy Chase, as well as the sub-divisions of Rosemary Hills, Rock Creek Forest, East Bethesda & Whitehall Condominium.

Loan Flipping Scam Can Cost You Your Bethesda Home

Do you have equity in your Bethesda home but also have bills to pay? Are you thinking about refinancing to get cash for a needed item or service? Anyone who answers yes to either or both of these questions is a potential target for the latest mortgage scam: loan flipping.

How do you know the real lender from the scam artist? According to HouseLogic.com, these scammers prey on your financial anxiety and count on your not knowing their game. They’ll start with a phone call, posing as a legitimate lender, and ask if you want to refinance your mortgage and get cash back. But where a legitimate lender would stop there, the scammers keep up the smooth talk. They’ll entice you to take another loan (or two, or three) for that long-awaited vacation or the boat you thought you could never afford. They make you confuse your needs with your wants.

If you get caught up in all the great “stuff” you’ll get, the con artists figure you won’t realize how much you’ll actually have to pay back or won’t notice the outrageous fees they’re charging you—about 3 to 6 percent more than a legitimate lender. 

Once you’ve squeezed every last penny out of the refinance, the scammers will skip town with all that money you paid them in fees and prepayment penalties. You’ll be left with repayments you can’t afford that may ultimately cost you your home.

Being aware of the scam is only half of the equation. You also need to know how to protect yourself from a loan flipper.

·         Deal only with lenders you know well or who have been recommended to you by someone you trust. Don’t sign with someone who tries to smooth-talk you into an equity loan.

·         Question every fee in a refinance, and ask about anything you don’t understand. If you keep getting vague answers, find the door.

·         Don’t close until and unless you’re completely comfortable and clear on the details.

·         Check that the lender belongs to a group that promotes ethical practices, such as the Mortgage Bankers Association or the National Association of Mortgage Brokers.

Remember that a refinance isn’t supposed to leave you broke. It’s meant to tap the equity in your home for those legitimate things you need like a new roof or college tuition. Work with a legitimate lender and make sure that repaying the new loan is within your current means.  Anything else is a scam.

Contact me, Mynor Herrera, today for expert help buying or selling in the DC, MD, & VA areas! I also specialize in Bethesda and Chevy Chase, as well as the sub-divisions of Rosemary Hills, Rock Creek Forest, East Bethesda & Whitehall Condominium.

Open-Air Markets Highlight Local Bethesda Agriculture and Wines

Bethesda wine lovers, take notice! Through the summer and into fall, downtown Frederick, North Beach and Silver Spring will be hosting open-air market events called “Eat-Drink-Go LOCAL!”  The goal of these events is to show off local agriculture and wines by having regional chefs pair the vino with seasonal ingredients from local farmers.

Sponsored by the Maryland Wine Association in collaboration with local farmers, chefs, and wineries, the events are scheduled as follows rain or shine:

• In Frederick – July 9 at Carroll Creek Park
• In North Beach – August 13 in Downtown North Beach
• In Silver Spring – October 22 in Downtown Silver Spring

Each event is free of charge, but you can purchase two different passes to upgrade your experience. Fifteen dollars will get you a “Tasting Pass” which includes a sample of local wine and a wine glass. For $25.00, you can get the “Food and Wine Pairing Pass” which includes pairings of wine and seasonal ingredients, a reusable 6-bottle wine carrier, and the wine and wine glass from the “Tasting Pass.”  There will also be produce markets and chef cooking demonstrations throughout each day.

The two passes can be purchased in advance at www.Marylandwine.com and www.BrownPaperTickets.com. You must be 21 or older to buy. This is just another example of the great local events offered in the Bethesda area. 

Contact me, Mynor Herrera, today for expert help buying or selling in the DC, MD, & VA areas! I also specialize in Bethesda and Chevy Chase, as well as the sub-divisions of Rosemary Hills, Rock Creek Forest, East Bethesda & Whitehall Condominium.

Bethesda Renters: Jump the Fence and Buy!

For those still on the fence about renting versus owning in Bethesda, Silver Spring, or Rosemary Hills, it’s time to jump. If you can’t be swayed by low interest rates and decreased home prices, here are five other reasons to own your own home from the RealtyTimes web site.

This isn't an all-inclusive list, but it may help you to feel a bit more comfortable in making the move to home ownership.

• Goodbye, Landlords – Even if you’ve had a great landlord, the money you pay every month goes into his pocket, not yours. You can love where you rent, but if the landlord is selling, you may have to go.
• Having Your Own Style – While you can paint and do some basic modifications in a rental, you can do much more in your own home. And you need no-one’s permission but your own.
• Cost Factors – There are ways to compare the costs and savings of renting versus buying. See GinnieMae.gov for a price chart that helps you analyze things like the tax savings and equity you’ll get as a homeowner as well as how much rents may increase. You can compare real numbers and make your best decision.
• Long-Term Gains – Affordability of housing has not been this good since 1970. Homes in many areas are undervalued and selling for less than the cost of replacement construction, while rents in those same areas are rising. Home ownership is now a great hedge against inflation.
• All Good Things Must Come to an End – Many people think that interest rates will stay low indefinitely and that there will always be plenty of home choices, but things are already changing. It’s expected that in 2013 distressed sales will begin to drop. Conversely, the number of new households is rising each year, which means that eventually fewer houses will be available. So it may be best to buy now rather than put it off.

Whether to buy or rent is a very individual and personal choice, and fear of the unknown is not a good basis for any decision. Crunch the numbers, consider all your options, and talk to a qualified real estate agent. You might conclude that owning a home really is better than renting, and you can get off of that uncomfortable fence.

Contact me, Mynor Herrera, today for expert help buying or selling in the DC, MD, & VA areas! I also specialize in Bethesda and Chevy Chase, as well as the sub-divisions of Rosemary Hills, Rock Creek Forest, East Bethesda & Whitehall Condominium.

Bethesda Artist Market Has Beauty for All

Don’t fret. If you missed the first running of the Bethesda Artist Market on June 11, you’ll have another chance to attend on July 9. Or plan to go a second time! Mark your calendars now, as this is one event where you can come home with wonderful treasures. 

Bethesda and the surrounding area are home to many artisans with expertise in countless mediums. At this year’s market you’ll be able to choose from paintings, jewelry, pottery, wood, photography, blown glass and much more.

If you become dazzled by all the artistic talent on display, you can take a break and enjoy the live musical entertainment presented throughout the day.  Offerings will include jazz, folk, pop, soul, and indie performed by local musicians.

The Market runs from 10:00 a.m. to 5:00 p.m. and is located on Norfolk Avenue between Fairmont and St. Elmo Avenue.  You can park for free in the Woodmont Avenue/Old Georgetown Road garage.

This is just one of the numerous events that the Bethesda area offers all year long. Check out the Downtown Bethesda site for more events. Those of us who live here know there’s always something fun to do and that there’s no better place in the world to call home.

Contact me, Mynor Herrera, today for expert help buying or selling in the DC, MD, & VA areas! I also specialize in Bethesda and Chevy Chase, as well as the sub-divisions of Rosemary Hills, Rock Creek Forest, East Bethesda & Whitehall Condominium.

This Summer, See Green Outside and Inside Your Chevy Chase Home

When considering how to save money on energy, homeowners usually think about their heating bills.  But there are energy savings to be had in the summer as well, if you know where to look. Consider these tips to reduce the warm weather energy bills of your Chevy Chase home.

Start with light bulbs. Changing from incandescent bulbs to Compact Fluorescent Lights (CFLs) will not only reduce energy use but also save money on bulbs, since CFL’s last many times longer. Summer or winter, unplug your appliances. Even when not in use, plugged-in machines draw power and increase your energy bills.

Placing insulating window wrap around any new windows is very efficient at keeping hot air out and cool air in, reducing energy loss around the window. In winter it works the opposite way, but still just as well. The Energy Star web site has information on available tax credits for these and many other types of energy upgrades. 

Most people don’t want to air condition their attic or their yard, but this may be happening if you have leaky ducts or poor attic insulation. To lower your energy bill, inspect these areas of your Chevy Chase home and make any necessary repairs.

Window air conditioners keep a house cool, but not very efficiently. Consider switching to a newer option: portable AC units. As the name implies, you can move these units from room to room, cooling only the area you’re in. They use an eco-friendly refrigerant gas and cost only from $300 to $500. The adjustable thermostat and 24-hour countdown timer will also reduce overall energy use.

For central air conditioning, it’s more efficient to leave the unit on at a higher temperature during the day while you’re away. Turning it off actually uses more energy as the unit has to work harder to cool down a very hot home. If you have a programmable thermostat, set it to turn down the temperature 30 to 45 minutes before you’ll be home.  Also remember to regularly replace your air filter and get proper servicing.

When all else fails, turn on the fans! Because they circulate and move the air, the need for air conditioning can be reduced.

Remember that with just a little effort summer can be green both outside and inside your home—with a little extra green in your wallet as well!

Contact me, Mynor Herrera, today for expert help buying or selling in the DC, MD, & VA areas! I also specialize in Bethesda and Chevy Chase, as well as the sub-divisions of Rosemary Hills, Rock Creek Forest, East Bethesda & Whitehall Condominium.

Creating a Greener Silver Spring

A new nonprofit organization is taking shape in Silver Spring, and it’s bringing together residents, businesses and county officials, says Gazette.net. 

The purpose of this nonprofit called Silver Spring Green is to make the city’s downtown area greener and to reach out to both businesses and residents to help with the cause of sustainable living. Currently it’s a very grass roots effort that’s getting much positive feedback from all who’ve gotten involved.

This effort is similar to a program in Bethesda called Bethesda Green, but the Silver Spring group wants to put their city’s own unique mark on the project, emphasizing what’s most important for them.

Five local companies contributed the founding board members for Silver Spring Green: Impact Silver Spring, Capital One Bank, Clean Currents, Innovative Business Interiors, and Chesapeake Bay Roasting Company.  While the organization was incorporated last week, its nonprofit status is still in the works.

Businesses realize that sustainability and green issues are important to their industry and especially to their customers.  Residents know it will make a difference for future generations.

Discovery Communications provides a meeting space for the group and is also helping with their website and brochures. Organizers will be sending out flyers, knocking on doors and hosting neighborhood conversation circles to make residents aware of the group and hopefully get them interested in participating.  Within the next few weeks their website, SilverSpringGreen.org, should be up as well.

So if you’re approached and asked if you’d like to help make Silver Spring greener, say yes and join the cause!

Contact me, Mynor Herrera, today for expert help buying or selling in the DC, MD, & VA areas! I also specialize in Bethesda and Chevy Chase, as well as the sub-divisions of Rosemary Hills, Rock Creek Forest, East Bethesda & Whitehall Condominium.

Report Gifts of Real Estate or Face the IRS

If you live in Silver Spring, Rosemary Hills, DC Metro or Virginia and you’ve recently gifted a relative with real estate, the IRS may have its eyes on you. The Wall Street Journal reports that the government agency is fighting to use land-transfer records to discover un-reported gifts of real estate between family members.

Recent legislation has raised to $5 million the limit on how much a person can gift in a lifetime without paying a gift tax. However, a gift to one person of more than $13,000 is supposed to be reported to the IRS so that appropriate transfer taxes are paid. Apparently, many people are “neglecting” this, so the IRS is seeking them out by examining state land-transfer filings.

An IRS document from December 2010 showed the agency had examined 323 taxpayers in the previous two years for not reporting possible gifts. Currently, 217 are being looked at and 250 more are up for possible review. So far, 97 cases have failed to report gifts and 12 have paid taxes or penalties because the gift put the donor over the lifetime gift credit maximum.

Maryland and Washington, DC have not yet provided their records for review. Virginia, however, has turned over its land-transfer information, and IRS documents show a noncompliance-in-reporting rate of 90 percent for the state. Other states providing records include Connecticut, Florida, Hawaii, Nebraska, New Hampshire, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Tennessee, Texas, Washington and Wisconsin.

Everyone needs to be aware that real estate gifts/transfers to family members are not exempt from the tax reporting rules. If the property is valued at over $13,000, you must file a gift-tax return, even if you’re still under the $5 million lifetime exemption. And it seems that the IRS is taking steps to make sure you don’t forget.

Contact me, Mynor Herrera, today for expert help buying or selling in the DC, MD, & VA areas! I also specialize in Bethesda and Chevy Chase, as well as the sub-divisions of Rosemary Hills, Rock Creek Forest, East Bethesda & Whitehall Condominium.