With interest rates reaching historic lows and with many properties listed as foreclosures and short sales, more and more investors are coming out of the woodwork. Indeed, there are several wonderful investment opportunities available for investors and first time home buyers alike. The irony is that with today's state of affairs and new mortgage guidelines, many homeowners looking for additional properties may not qualify. Should you be a homeowner looking to purchase an additional/investment property, you might want to keep the following in mind:
1. You are going to have to put over 20% down.
2. Expect a higher interest rate than your typical market rate. In retrospect, with interest rates still hitting historic lows, you should still be able to get a decent interest rate.
3. In today's market a mere lease agreement does not serve as enough proof that your existing property is rented. You may have to rent your existing property for a year and reflect the rental income in your tax returns.
4. It may also be helpful to make copies of rental checks received each month. The more information you can provide, the better your chances of qualifying.
5. Another trend we are seeing these days is that most lenders are more likely to finance your investment property if you have enough verifiable income and assets(income varies from lender to lender) to pay both mortgages each month.
6. If you already have a loan for four or more properties, you may not be able to finance your next purchase. Most lenders today are shying away from investors who have financed more than four properties.
Remember, qualifying for a loan is granted on an individual basis so do not be discouraged should you wish to apply. Despite these few challenges, with the right investor mindset and professionals, you can still continue to legally purchase homes to create your long term wealth.
Wednesday, December 15, 2010
Home Price Indicators? Follow The Rents!
A leading indicator for home prices? Follow the rents!
The big question for home buyers and sellers today is: "Where are home prices headed?" People want to know if now is a good time to buy or sell, or if they should wait. We all need to stay on top of trends in real estate values -- so what's a good way to analyze the situation?
Yale economist Robert Shiller states it bluntly: "If you look at the trend in rents to see where housing prices are headed, you're looking at the right measure." Shiller is the co-developer of the S&P Case/Shiller Home Price Indicates that monthly track residential real estate values nationally and in 20 metro areas.
Traditionally, people have been willing to pay a modest premium to own a home rather than rent it. Recent studies report that in 1999 rents averaged 87% of the after-tax mortgage payment for houses and condos of similar size in the same neighborhood.
When home prices took off, this percentage changed. By mid-2006, rents had fallen to less than 60% of after-tax mortgage payments. In some markets, owners were paying twice as much as renters for a similar property in the same neighborhood. In a few places, owner monthly payments were three times average rents.
The 87% ratio of rent to ownership cost for 1999 is a good benchmark because it stayed around that level throughout the 1990's and the steep rise in home prices hadn't really begun.
With that as our guide, we can conclude that home prices at last appear to be stabilizing. By the end of October 2009, rents on average were up to 83% of ownership costs!
Conditions vary from market to market, so check your own area. But with historically low mortgage rates, plus the homebuyer tax credit, this could be a great time to be buying or selling....
The big question for home buyers and sellers today is: "Where are home prices headed?" People want to know if now is a good time to buy or sell, or if they should wait. We all need to stay on top of trends in real estate values -- so what's a good way to analyze the situation?
Yale economist Robert Shiller states it bluntly: "If you look at the trend in rents to see where housing prices are headed, you're looking at the right measure." Shiller is the co-developer of the S&P Case/Shiller Home Price Indicates that monthly track residential real estate values nationally and in 20 metro areas.
Traditionally, people have been willing to pay a modest premium to own a home rather than rent it. Recent studies report that in 1999 rents averaged 87% of the after-tax mortgage payment for houses and condos of similar size in the same neighborhood.
When home prices took off, this percentage changed. By mid-2006, rents had fallen to less than 60% of after-tax mortgage payments. In some markets, owners were paying twice as much as renters for a similar property in the same neighborhood. In a few places, owner monthly payments were three times average rents.
The 87% ratio of rent to ownership cost for 1999 is a good benchmark because it stayed around that level throughout the 1990's and the steep rise in home prices hadn't really begun.
With that as our guide, we can conclude that home prices at last appear to be stabilizing. By the end of October 2009, rents on average were up to 83% of ownership costs!
Conditions vary from market to market, so check your own area. But with historically low mortgage rates, plus the homebuyer tax credit, this could be a great time to be buying or selling....
Short Sale Rules!
The good news is that borrowers who went through a recent short sale may be eligible for FHA financing if:
1. They were current on their mortgage and other debts at time of short sale.
2. The proceeds from the short sale serve as payment in full.
Borrowers in default on their mortgage at the time of short sale or pre-foreclosure unfortunately have to wait 3 years from the date of pre-foreclosure sale to be eligible for FHA financing.
Borrowers that went through a recent short sale may be however be eligible for FHA financing if:
1. They were current on their mortgage and other debts at time of short sale.
2. The proceeds from the short sale serve as payment in full.
Borrowers in default on their mortgage at the time of short sale or pre-foreclosure have to wait 3 years from the date of pre-foreclosure sale to be eligible for FHA financing.
A few exceptions can be made such as:
1. The default was due to circumstances beyond the borrower’s control such as death of primary wage earner, long term un-insured illness, etc. and
2. Credit was good prior to the exceptional circumstances.
Unfortunately most short sales will damage the credit of the seller/future borrower but can be a better alternative to bankruptcy. The words "Short sale" also doesn't show up on credit reports. They instead record "Paid and Settled". A property that has been in good standing and paid off shows up as "Paid and Satisfied". Notice the difference.
1. They were current on their mortgage and other debts at time of short sale.
2. The proceeds from the short sale serve as payment in full.
Borrowers in default on their mortgage at the time of short sale or pre-foreclosure unfortunately have to wait 3 years from the date of pre-foreclosure sale to be eligible for FHA financing.
Borrowers that went through a recent short sale may be however be eligible for FHA financing if:
1. They were current on their mortgage and other debts at time of short sale.
2. The proceeds from the short sale serve as payment in full.
Borrowers in default on their mortgage at the time of short sale or pre-foreclosure have to wait 3 years from the date of pre-foreclosure sale to be eligible for FHA financing.
A few exceptions can be made such as:
1. The default was due to circumstances beyond the borrower’s control such as death of primary wage earner, long term un-insured illness, etc. and
2. Credit was good prior to the exceptional circumstances.
Unfortunately most short sales will damage the credit of the seller/future borrower but can be a better alternative to bankruptcy. The words "Short sale" also doesn't show up on credit reports. They instead record "Paid and Settled". A property that has been in good standing and paid off shows up as "Paid and Satisfied". Notice the difference.
Monday, May 3, 2010
Is Whole Foods a "Status Symbol"?
Last night, my wife and I took a stroll around the neighborhood. It was a warm, beautiful night and we marveled at the number of people who were out and about, enjoying the first real taste of summer, eating frozen yogurt from Froyo, crossing the street with shopping bags from Bloomingdale's, Chico's, and Border's and some running across the street to catch the latest movie at Mazza Gallerie.
We were more curious about our new, high profile neighbor, Whole Foods.
Whole Foods Market, whose presence has been whispered about for the past two years, is finally opening in May. The stunning main entrance will be located on Willard Avenue (Across from Lia's and Panera Bread) and is one of the main anchor stores within the Wisconsin Place development which also houses Microsoft's corporate headquarters and the new high rise rental apartments.
As we looked through the front windows (we noticed several had strategically been left uncovered to tempt our curiosity), we saw a huge underground store with lights hanging from the ceiling like a NYC loft; complete with a large eat-in cafe with booths and shelves that were already stocked with many of the goodie's we have come to expect from Whole Foods.
As I sit here, contemplating the universe, my question is this: now that we (Friendship Heights) have our own neighborhood Whole Foods, have we "arrived." What I mean is that, as far as the attractiveness of our neighborhood is concerned, does it bode well for us that Whole Foods has chosen to "grace" us with their newest store.
It used to be that, if you had a Starbucks in your neighborhood and carried the Starbucks Cup (label side out of course) it indicated that you were somehow hip and were given the "seal of coolness."
When you passed by other people carrying a Starbucks Coffee, there was almost an unstated understanding that you belonged to an elite club, as if you both recognized that you were somehow "above it all" by possessing your cup of overpriced joe.
Is it the same for Whole Foods? Is Whole Foods a Status Symbol? If yes, should it be? After all, it is only a grocery store. Is there some reason that if you shop at Whole Foods you are a better person somehow? Are you better than the lowly mortals (like myself) who shop at Giant or Safeway, or even Trader Joe's where prices are much lower and selection for many items is much better?
Perhaps because Whole Foods is so expensive, people feel that there products are somehow better. Or maybe, because the people who shop there can "afford" to pay more for everything, they feel they are somehow better than their neighbor? What do you think? Am I wrong to think this way?
Isn't it funny how we unconsciously value ourselves these days based upon where we shop and what we affiliate with rather than our personal character and relationships?
Don't get me wrong, I love Whole Foods and am thrilled that they are moving into our neighborhood. The new store should provide jobs to local residents and improve our local economy. It may also help keep our local property values high and even, in some cases, help to increase the property values. And, like Starbucks, it is hard to dispute the overall positive effect that having a Whole Foods nearby has on the neighborhood. Plus, I love their fresh fish and they always have the best fresh flowers!
Yet another reason to love Friendship Heights/Chevy Chase!
We were more curious about our new, high profile neighbor, Whole Foods.
Whole Foods Market, whose presence has been whispered about for the past two years, is finally opening in May. The stunning main entrance will be located on Willard Avenue (Across from Lia's and Panera Bread) and is one of the main anchor stores within the Wisconsin Place development which also houses Microsoft's corporate headquarters and the new high rise rental apartments.
As we looked through the front windows (we noticed several had strategically been left uncovered to tempt our curiosity), we saw a huge underground store with lights hanging from the ceiling like a NYC loft; complete with a large eat-in cafe with booths and shelves that were already stocked with many of the goodie's we have come to expect from Whole Foods.
As I sit here, contemplating the universe, my question is this: now that we (Friendship Heights) have our own neighborhood Whole Foods, have we "arrived." What I mean is that, as far as the attractiveness of our neighborhood is concerned, does it bode well for us that Whole Foods has chosen to "grace" us with their newest store.
It used to be that, if you had a Starbucks in your neighborhood and carried the Starbucks Cup (label side out of course) it indicated that you were somehow hip and were given the "seal of coolness."
When you passed by other people carrying a Starbucks Coffee, there was almost an unstated understanding that you belonged to an elite club, as if you both recognized that you were somehow "above it all" by possessing your cup of overpriced joe.
Is it the same for Whole Foods? Is Whole Foods a Status Symbol? If yes, should it be? After all, it is only a grocery store. Is there some reason that if you shop at Whole Foods you are a better person somehow? Are you better than the lowly mortals (like myself) who shop at Giant or Safeway, or even Trader Joe's where prices are much lower and selection for many items is much better?
Perhaps because Whole Foods is so expensive, people feel that there products are somehow better. Or maybe, because the people who shop there can "afford" to pay more for everything, they feel they are somehow better than their neighbor? What do you think? Am I wrong to think this way?
Isn't it funny how we unconsciously value ourselves these days based upon where we shop and what we affiliate with rather than our personal character and relationships?
Don't get me wrong, I love Whole Foods and am thrilled that they are moving into our neighborhood. The new store should provide jobs to local residents and improve our local economy. It may also help keep our local property values high and even, in some cases, help to increase the property values. And, like Starbucks, it is hard to dispute the overall positive effect that having a Whole Foods nearby has on the neighborhood. Plus, I love their fresh fish and they always have the best fresh flowers!
Yet another reason to love Friendship Heights/Chevy Chase!
Tuesday, April 27, 2010
Divine Cupcakes and an Indian Cafe!!
Wow! I have been royally spoiled the past several days with tasty treats in the neighborhood.
I found two brand new eateries that are simply to die for!!! Like many people, I have a serious sweet tooth and always yearn for a sweet afternoon snack. One afternoon last week, I walked over to a new cupcake shop called Frosting located on the corner of Western and Wisconsin circle, right behind the Giant and next to the former Perez salon and Day Spa. I walked in and ordered a Baba’s Baby, a carrot bottom with vanilla cream cheese buttercream top and a Snowflake, with coconut bottom with coconut vanilla buttercream top
Just to let you know, I am one of the pickiest people around and am frequently disappointed with food, especially when I go out to eat. (just ask my wife)
Well, I was stunned. The cupcakes were probably the best I have ever had! They were so moist and tasty, with a perfect amount of sugar and icing that was so thick and creamy it melted in my mouth! I was so happy it made me forget all about the $2.75 I spent per cupcake to engage in the deliciousness. And, although I don't drink coffee, I am told by all my neighbors that the illy coffee they serve is the best.
The next time you get a hankering for something sweet, support our new local cupcakery and visit Frosting. And no, I am not being paid to write about them, they don't even know:) http://frostingacupcakery.com/home.html
So, I began with the dessert first just as I do in real life. But, I must now rave about the newest indian delight in our neighborhood. Just down Wisconsin towards DC, right beside Le Chat Noir, is a little place on the corner called Cafe of India. Our love affair (my wife knows of course, she was there!) first began a few weeks ago with the Crackling Spinach. The Crackling Spinach is hard to imagine until you try it. It is sweet and light, with dates and avocado, lightly deep fried and decadent. Once I was hooked on that, I tried the butter chicken, chicken tikka, rice, fried vegetable something???, lamb kabob and pureed spinach with cheese. Amazing.
I have been four times in the last two weeks and thought that I really should share this experience with the rest of my neighbors so....here it is. http://www.cafeofindiadc.com/
Go, eat, enjoy! And don't forget to get your cupcake for dessert on the way home!
I found two brand new eateries that are simply to die for!!! Like many people, I have a serious sweet tooth and always yearn for a sweet afternoon snack. One afternoon last week, I walked over to a new cupcake shop called Frosting located on the corner of Western and Wisconsin circle, right behind the Giant and next to the former Perez salon and Day Spa. I walked in and ordered a Baba’s Baby, a carrot bottom with vanilla cream cheese buttercream top and a Snowflake, with coconut bottom with coconut vanilla buttercream top
Just to let you know, I am one of the pickiest people around and am frequently disappointed with food, especially when I go out to eat. (just ask my wife)
Well, I was stunned. The cupcakes were probably the best I have ever had! They were so moist and tasty, with a perfect amount of sugar and icing that was so thick and creamy it melted in my mouth! I was so happy it made me forget all about the $2.75 I spent per cupcake to engage in the deliciousness. And, although I don't drink coffee, I am told by all my neighbors that the illy coffee they serve is the best.
The next time you get a hankering for something sweet, support our new local cupcakery and visit Frosting. And no, I am not being paid to write about them, they don't even know:) http://frostingacupcakery.com/home.html
So, I began with the dessert first just as I do in real life. But, I must now rave about the newest indian delight in our neighborhood. Just down Wisconsin towards DC, right beside Le Chat Noir, is a little place on the corner called Cafe of India. Our love affair (my wife knows of course, she was there!) first began a few weeks ago with the Crackling Spinach. The Crackling Spinach is hard to imagine until you try it. It is sweet and light, with dates and avocado, lightly deep fried and decadent. Once I was hooked on that, I tried the butter chicken, chicken tikka, rice, fried vegetable something???, lamb kabob and pureed spinach with cheese. Amazing.
I have been four times in the last two weeks and thought that I really should share this experience with the rest of my neighbors so....here it is. http://www.cafeofindiadc.com/
Go, eat, enjoy! And don't forget to get your cupcake for dessert on the way home!
Thursday, April 8, 2010
National Open House Weekend Starts April 10th!!
Greetings All!
Besides everything else that is going on in Friendship Heights and Chevy Chase, this weekend is National Open House Weekend all around the Nation! means that if you ever wanted to visit open houses, this would be the BEST weekend of the year because they will all be open at the same time. This means, you spend your time wisely and the inventory is huge!
The reason this event is being held by State and Local Real Estate Associations is to make sure that all potential buyers know that they can still take advantage of the $8,000 First Time Home Buyer Tax Credit (this is much better than a deduction) and even the new $6,500 Current Home Owner Credit for homeowners looking to purchase a new home (Please speak to your tax advisor about these credits)
Here are a few details taken directly from the website "Saving to Invest"
(http://www.savingtoinvest.com/2009/02/15000-first-home-buyer-tax-credit-in.html)
[Update Jan 2010] Following Congress approval, President Obama has signed off on the bill approving an extension of the $8,000 new home buyer tax credit until April 30th 2010. Also, the new provisions in the extension are NOT retroactive. Here is a summary of the new and updated provisions and their impact on you if you have or are planning to buy a house. New IRS forms and claiming instructions are also provided.
- Qualification Period : First-time home buyers who bought after January 1, 2009 and before April 30th 2010 (with closing to take place by or on June 30, 2010), would get the $8,000 home buyer tax credit. This means you need to have purchased on or before April 30, 2010. However, in cases where a binding sales contract is signed on or by April 30, 2010, a home purchase completed (closing, final inspection etc) by June 30, 2010 will qualify. Make sure you attach a copy of the pages from the signed binding contract to make a purchase showing all parties' names and signatures, the property address, the purchase price and the date of the contract.
- For the purposes of claiming the tax credit, the purchase date is the date when closing occurs and the title to the property transfers to the home owner. If you and your spouse claim the credit on a joint return (both of you must meet the income and past ownership criteria to qualify), each spouse is treated as having been allowed half of the credit for purposes of repaying the credit. So the total amount claimable is still only $8000.
Current Homeowners looking for a replacement primary residence could also qualify for a $6,500 (up to $3,250 for a married individual filing separately) under the new “long-time resident” provision. They must have lived in the same principal residence for any five-consecutive year period during the eight-year period that ended on the date the replacement home is purchased. This new provision also only applies to homes purchased after Nov. 6th 2009. The IRS has stepped up compliance checks involving the home buyer credit for those with past homes and they must provide a mortgage Interest Statement, Property tax records or Homeowner’s insurance records, to prove compliance with past residency criteria.
I will be having at least 5 this weekend myself so if you are looking......visit my website at www.neilbacchus.com
We'll see you soon!
Besides everything else that is going on in Friendship Heights and Chevy Chase, this weekend is National Open House Weekend all around the Nation! means that if you ever wanted to visit open houses, this would be the BEST weekend of the year because they will all be open at the same time. This means, you spend your time wisely and the inventory is huge!
The reason this event is being held by State and Local Real Estate Associations is to make sure that all potential buyers know that they can still take advantage of the $8,000 First Time Home Buyer Tax Credit (this is much better than a deduction) and even the new $6,500 Current Home Owner Credit for homeowners looking to purchase a new home (Please speak to your tax advisor about these credits)
Here are a few details taken directly from the website "Saving to Invest"
(http://www.savingtoinvest.com/2009/02/15000-first-home-buyer-tax-credit-in.html)
[Update Jan 2010] Following Congress approval, President Obama has signed off on the bill approving an extension of the $8,000 new home buyer tax credit until April 30th 2010. Also, the new provisions in the extension are NOT retroactive. Here is a summary of the new and updated provisions and their impact on you if you have or are planning to buy a house. New IRS forms and claiming instructions are also provided.
- Qualification Period : First-time home buyers who bought after January 1, 2009 and before April 30th 2010 (with closing to take place by or on June 30, 2010), would get the $8,000 home buyer tax credit. This means you need to have purchased on or before April 30, 2010. However, in cases where a binding sales contract is signed on or by April 30, 2010, a home purchase completed (closing, final inspection etc) by June 30, 2010 will qualify. Make sure you attach a copy of the pages from the signed binding contract to make a purchase showing all parties' names and signatures, the property address, the purchase price and the date of the contract.
- For the purposes of claiming the tax credit, the purchase date is the date when closing occurs and the title to the property transfers to the home owner. If you and your spouse claim the credit on a joint return (both of you must meet the income and past ownership criteria to qualify), each spouse is treated as having been allowed half of the credit for purposes of repaying the credit. So the total amount claimable is still only $8000.
Current Homeowners looking for a replacement primary residence could also qualify for a $6,500 (up to $3,250 for a married individual filing separately) under the new “long-time resident” provision. They must have lived in the same principal residence for any five-consecutive year period during the eight-year period that ended on the date the replacement home is purchased. This new provision also only applies to homes purchased after Nov. 6th 2009. The IRS has stepped up compliance checks involving the home buyer credit for those with past homes and they must provide a mortgage Interest Statement, Property tax records or Homeowner’s insurance records, to prove compliance with past residency criteria.
I will be having at least 5 this weekend myself so if you are looking......visit my website at www.neilbacchus.com
We'll see you soon!
Wednesday, March 10, 2010
The Serious Danger of an Inaccurate Appraisal
During the buying or selling process, many people take for granted that an appraisal will come in close enough to the buyers or sellers agreed upon contract sales price. They assume that, if their realtor accurately priced the property and they found a willing buyer who felt that the price was justified, that there should be no problem.
Most of the time appraisals are correct but....there are some instances when an inaccurate appraisal can have dire consequences on not only one contract, but the overall value of multiple properties and indeed, entire buildings.
An inaccurate appraisal, (i.e: an appraisal that does not reflect the correct value of a property as compared with other properties) can cause overall property values to decrease.
Here is what happens:
When appraisers look at comparables ("comps"), they look at about 3 properties that are similar in square footage, location, number of bedrooms and baths and of course, overall condition. They then estimate the value of the property on what these similar properties sold for. If a property was appraised too low and then sold for the lower price, another property with the same attributes sold after this property could realistically go for $20,000-$30,000 below what it is actually worth!!! All because the appraisal was not accurate.
Now, this is for one property. Imagine if you lived in a condominium and each unit was then successively based on the appraisal that was inaccurately low. Ultimately, the entire building loses out because, in sum, all owners lose money in property value that they could have made.
The moral of the story is that, you have to be very careful when selecting an appraiser. You must ask the lender whether the appraiser they send to appraise the property has knowledge of the
local market in which the property is located.
One local appraiser that I always rely upon is David Lipsman. He knows the local market inside and out and is extremely attentive to client needs. He has always gone the extra mile and is always available when I need him. He can be reached at 301-461-1153 or via email at: dlipsman@gmail.com
Happy Selling!
Most of the time appraisals are correct but....there are some instances when an inaccurate appraisal can have dire consequences on not only one contract, but the overall value of multiple properties and indeed, entire buildings.
An inaccurate appraisal, (i.e: an appraisal that does not reflect the correct value of a property as compared with other properties) can cause overall property values to decrease.
Here is what happens:
When appraisers look at comparables ("comps"), they look at about 3 properties that are similar in square footage, location, number of bedrooms and baths and of course, overall condition. They then estimate the value of the property on what these similar properties sold for. If a property was appraised too low and then sold for the lower price, another property with the same attributes sold after this property could realistically go for $20,000-$30,000 below what it is actually worth!!! All because the appraisal was not accurate.
Now, this is for one property. Imagine if you lived in a condominium and each unit was then successively based on the appraisal that was inaccurately low. Ultimately, the entire building loses out because, in sum, all owners lose money in property value that they could have made.
The moral of the story is that, you have to be very careful when selecting an appraiser. You must ask the lender whether the appraiser they send to appraise the property has knowledge of the
local market in which the property is located.
One local appraiser that I always rely upon is David Lipsman. He knows the local market inside and out and is extremely attentive to client needs. He has always gone the extra mile and is always available when I need him. He can be reached at 301-461-1153 or via email at: dlipsman@gmail.com
Happy Selling!
Sunday, March 7, 2010
5500 Friendship Blvd, 1414N Chevy Chase, MD 20815
Offered at $ 369,500
Taxes: $3,531 ~ Condo Fee: $650*(all utilities included) ~ 1,100 Sq. Ft.
With over 1,100 square feet, this spacious 1 bedroom + den is
roomy and bright. This home is custom painted with crown moulding and features
wall-to-wall high quality carpet. Wall-length windows in the living
room and bedroom create an airy, open feel and provide
abundant natural light.
The large Master bedroom features custom shades and walk-in
closet with custom built-ins (in addition to generous hallway
closets and foyer closet). An Enclosed Den has pocket French glass doors --perfect for
use as a dining room, office, or nursery.
Two bathrooms (one full, one half) are fully upgraded with new
flooring, new vanities and lighting, and upgraded plumbing.
A fully renovated Gourmet Kitchen features new, white custom
cabinets, designer North American Riverbed granite
countertops, updated appliances and a stylish slate tile floor.
The kitchen is designed to accommodate a small table and
chairs with pocket door entry into living space. A dedicated parking space is
conveniently located near the elevators and garage exit.
Taxes: $3,531 ~ Condo Fee: $650*(all utilities included) ~ 1,100 Sq. Ft.
With over 1,100 square feet, this spacious 1 bedroom + den is
roomy and bright. This home is custom painted with crown moulding and features
wall-to-wall high quality carpet. Wall-length windows in the living
room and bedroom create an airy, open feel and provide
abundant natural light.
The large Master bedroom features custom shades and walk-in
closet with custom built-ins (in addition to generous hallway
closets and foyer closet). An Enclosed Den has pocket French glass doors --perfect for
use as a dining room, office, or nursery.
Two bathrooms (one full, one half) are fully upgraded with new
flooring, new vanities and lighting, and upgraded plumbing.
A fully renovated Gourmet Kitchen features new, white custom
cabinets, designer North American Riverbed granite
countertops, updated appliances and a stylish slate tile floor.
The kitchen is designed to accommodate a small table and
chairs with pocket door entry into living space. A dedicated parking space is
conveniently located near the elevators and garage exit.
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