Foster Spahr Real Estate » dspahr

722 Oser Drive Crownsville, MD 21032

dspahr — Wed, 25 Jan 2012 01:28:09 +0000

FOR LEASE- 4bd / 3ba recently updated 2 level home with hardwood floors, large fenced yard, pet friendly, water privelaged community. Home boasts fireplace, 2 master bedrooms, deck, patio, hot tub, & large storage shed on large open lot. Very short and easy commute to Fort Meade, NSA, Baltimore or Annapolis.

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8523 Cameron St Silver Spring, MD 20910

dspahr — Tue, 09 Aug 2011 01:54:23 +0000

*LEASED* Nestled in a private & quiet, park like community, this Federal style, sunny, end unit TH is located in the heart of downtown SS w/retail shops, mall, restaurants, entertainment venues (AFI & future Fillmore concert hall) & 3 minutes to the SS metro! 4 levels w/2,050 sq ft, 2 car gar, lg deck, 3BR (all w/walk-in closets), 3 1/2BA, FP, gourmet kit, hdwd flrs + more! Urban living at its finest!

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10112 Dallas Ave Silver Spring, MD 20901

dspahr — Sat, 25 Jun 2011 01:50:25 +0000

*LEASED* Beautiful 4br + 3ba Cape Code on large, flat lot located in the lovely South Four Corners neighborhood of Silver Spring. Fully renovated in 2010 including gorgeous kitchen with granite counters, stainless steel appliances, and cherry cabinets; fully renovated baths; large master suite; gleaming hardwood floors; and new HVAC and hot water heater. Close to downtown Silver Spring and Beltway. A must see!

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County Council Passes Five-Cent Bag Tax

dspahr — Wed, 04 May 2011 13:42:06 +0000

County Council Passes Five-Cent Bag Tax

The Montgomery County Council today approved Bill 8-11 that will create
a five-cent charge on each paper or plastic bag provided by a retail
establishment to a customer at point of sale, pickup or delivery. The
bill is intended to inspire consumers to use more reusable bags, which
in turn could lead to fewer bags littering the environment.

Neil H. Greenberger
Legislative Information Officer
Montgomery County Council
240-777-7939

Montgomery County Council Approves
5-Cent Tax on Carryout Bags

Bill 8-11 Creates Charge on Paper or Plastic Bags Provided by Retail Establishment at Point of Sale, Pickup or Delivery

ROCKVILLE, Md., May 3, 2011-The Montgomery County Council today approved Bill 8-11 that will create a five-cent charge on each paper or plastic bag provided by a retail establishment to a customer at point of sale, pickup or delivery. The bill is intended to inspire consumers to use more reusable bags, which in turn could lead to fewer bags littering the environment.

The tax, which was proposed by County Executive Isiah Leggett, was approved by an 8-1 vote. Councilmembers Phil Andrews, Roger Berliner, Marc Elrich, Valerie Ervin, George Leventhal, Nancy Navarro, Craig Rice and Hans Riemer voted to approve the tax. Councilmember Nancy Floreen was opposed.

The proposed tax will not apply to bags provided by a pharmacy containing prescription drugs; a newspaper bag or bag intended for
initial use as a garbage, pet waste or yard waste; a bag provided at a seasonal event, such as a farmers market; or a paper bag that a restaurant gives a customer to take prepared food or drinks from the restaurant. The tax also will not apply if the bag is used to package a bulk item (such as small items at a food or hardware store) or to wrap perishable items (such as fresh or frozen food or flowers).

Retail establishments will retain one-cent of each five-cent tax to cover administration fees of collection. The establishment would be
required to indicate on a transaction receipt the number of bags provided.

The law will take effect Jan. 1, 2012.

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WSSC offers Engineering Scholarship

dspahr — Fri, 22 Apr 2011 16:24:22 +0000

WSSC Commissioners Offer Engineering Scholarship

The $1,000 Joyce Starks Engineering Scholarship is being offered to a college student majoring in engineering. The winner also may be offered a paid summer internship. Candidates must have a permanent home address in WSSC’s service district, and be enrolled in a degree program that leads to a bachelor’s or advanced degree in Engineering.

Past winners may compete.

Applicants should send a copy of their official transcript along with a cover letter, proof of permanent residency, two references and a 400 to 1000-word essay on the following:
What topic have you studied that makes you believe it is important for engineering to be mindful of “green” environmental initiatives, and how would this make you a good candidate for a WSSC scholarship and potential summer internship?

The reference letters must be submitted separately, or in a sealed envelope if sent with the application materials.

Send all materials to:
Charlett Bundy, Esq., Corporate
Secretary, WSSC, 14501 Sweitzer Lane, Laurel,
MD 20707.

Applications must be postmarked
by June 30, 2011.

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403 Buffalo Rd Mount Airy, MD 21771

dspahr — Fri, 11 Mar 2011 15:48:55 +0000

*UNDER CONTRACT* – Charming rambler on 1/3 acre lot conveniently located in the heart of Mount Airy close to schools, downtown, and I-70. Country living with city conveniences. Beautiful views from front porch. Short sale but well maintained and cared for. Third party approval required. Experienced attorney working with bank.

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6111 Ruatan St Berwyn Heights, MD 20740

dspahr — Fri, 04 Mar 2011 23:38:31 +0000

SOLD in 3 days!- Welcome to this beautifully renovated rambler in the heart of Berwyn Heights. This home features 4 bedrooms + 2 full baths including large rec room in basement. New kitchen with granite counters, ceramic floors and new energy star appliances. New electrical wiring upgrade, new 30yr architectural roof, new stone and tiled baths, new hot water heater, etc. Hardwood floors throughout. Ideal location close to major highways, shopping and University of Maryland.

Click here to Download Listing Sheet

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New Rules Require Rental Property Owners to Issue 1099s

dspahr — Mon, 31 Jan 2011 16:28:08 +0000

The recently enacted Small Business Jobs Act, P.L. 111-240, contained one provision that may have escaped the notice of taxpayers who own rental property, but will affect them starting in January. Under the provision, owners of property who receive rental income will be required to issue Forms 1099 to service providers for payments of $600 or more during the year.

The act subjects recipients of rental income from real estate to the same information-reporting requirements as taxpayers engaged in a trade or business. Thus, rental income recipients making payments of $600 or more to a service provider in the course of earning rental income are required to provide an information return (typically, Form 1099-MISC, Miscellaneous Income) to the IRS and to the service provider. This provision will apply to payments made after December 31, 2010, and will cover, for example, payments made to plumbers, painters or accountants in the course of earning the rental income.

While rental property owners will not actually issue the required 1099s until early 2012, they need to start keeping adequate records of payments starting January 1, 2011, so they will be prepared to issue correct 1099s. They will also need to obtain the name, address and taxpayer identification number of the service provider, using Form W-9 or a similar form.

Exceptions
The law provides an exception for individuals who can show that the requirement will create a hardship for them. The IRS is directed to issue regulations on this, but has not done so yet, so there is currently no guidance on what constitutes sufficient hardship to qualify for the exception or how a taxpayer would demonstrate that hardship.

The law also contains an exception for individuals who receive rental income of “not more than a minimal amount.” Again, the IRS is directed to issue regulations to determine what constitutes “not more than a minimal amount” but has not done so yet.

If such guidance is not forthcoming before January 1, all individuals who receive rental income should start keeping records of payments to service providers so they are prepared to issue 1099s in 2012.

The law also contains an exception for members of the military or employees of the intelligence community if substantially all their rental income comes from renting their principal residence on a temporary basis.

Information Return Penalties
Taxpayers should also be aware that in addition to creating a new reporting requirement, the act increases the penalties for failure to file a correct information return. The first-tier penalty increases from $15 to $30; the second-tier penalty increases from $30 to $60; and the third-tier penalty increases from $50 to $100. For small business filers (with average annual gross receipts under $5 million), the calendar-year maximum increases from $25,000 to $75,000 for the first-tier penalty; from $50,000 to $200,000 for the second-tier penalty; and from $100,000 to $500,000 for the third-tier penalty. The minimum penalty for each failure due to intentional disregard increases from $100 to $250.

The increased penalties apply to information returns required to be filed on or after January 1, 2011.

Expanded 1099 Reporting After 2011
Currently, payments to corporations are excepted from the 1099 information reporting requirements, but starting for payments after December 31, 2011, businesses (including, now, individuals who receive rental income) will be required to file an information return for all payments aggregating $600 or more in a calendar year to a single payee, including corporations (other than a payee that is a tax-exempt corporation). This change was made by the Patient Protection and Affordable Care Act, P.L. 111-148, which was enacted in March. That act also expanded the information reporting requirements to include gross proceeds paid in consideration for property.

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Happy New Year

dspahr — Mon, 10 Jan 2011 15:15:05 +0000

First, Id like to take a moment to Thank all of our clients, partners, and associates for helping make 2010 a success. 2010 was our first full year operating as Foster Spahr Real Estate and we couldnt have imagined a better start to what we hope will be a long and successful journey.

We see a lot of exciting opportunites and devlopments awaiting our clients in 2011. Interest rates remain at historic lows, housing prices have begun to stabilize, and a heathly level of inventory exists throughout the greater Washington DC area providing our clients wonderful opportunities to find the home of the dreams. Our investor clients should also benefit from the steady supply of foreclosures as the system works through the large inventory created as a result of the downturn.

On the flip side, our clients looking to sell should see a more stable market than has existed in the last 2-3 years and while prices having only begun to marginally stengthen, there should be a larger pool of buyers to market to providing more opportunity to get the properties moved. Our focus for our clients will be on presentation and pricing to make sure your property stands out from the crowd. This will prove to be the best strategy for those looking to sell in 2011.

Another exciting development we would like to announce is the introduction of our REO divison. We will be aggressively working with Asset Managers and Banks to deliver a superior service in getting our clients REO properties sold with quick turnarounds while at the same time, maximizing the realized return on investment. We have put together a full turn-key package and are fully funded to provide a level of service that we hope will set us apart from the competition.
Thank you again for allowing us the opportunity to be your local real estate partner. We look forward to providing you and your referrals with the highest level of service you have come to expect from Foster Spahr Real Estate.

Best wishes for a successful 2011,
Dan Spahr
Pricipal Broker

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Happy Thanksgiving from Foster Spahr Real Estate

dspahr — Wed, 24 Nov 2010 14:50:48 +0000

Thanksgiving is the time of year that is traditionally known for giving thanks. We at Foster Spahr could not allow such an opportunity to pass without participating. Thank You!!! To all of our Clients, Partners, Friends and Family, for all of your hard work and support.

Truly we are grateful and feel blessed that you are a part of Foster Spahr’s success. Have a wonderful Thanksgiving!

Please take some time over the Holiday season to contribute to your favorite local charity or doante your time to a cause you are passionate about. Many charitable organizations have felt the strains of the recession and need our help more now than ever. If we work together, we really can make a difference.

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