- The Washington Times - Thursday, January 12, 2006

Owning a home in the Washington area has increasingly become a distant dream for hopeful first-time buyers struggling to save money for a down payment and closing costs while paying rent and building a good credit history.

Mid-City Urban LLC and Perseus Realty LLC have combined forces for one project that may be the solution for these buyers.

Parkside at Germantown, a conversion project located within the planned community of Brandermill, features two-story town homes and one-story bungalows that have been converted from rental homes to fee-simple ownership, meaning there are no condominium fees.

The developers of Parkside at Germantown teamed with Federal Funding Mortgage Corp. to offer financing for these homes with no down payment and no closing costs for creditworthy buyers. Interest-only mortgages and 40-year mortgage loans are also available.

Residents of Parkside at Germantown have access to the amenities and open spaces of Brandermill, including a nearby swimming pool, tennis courts, playgrounds and walking trails. The homes are within walking distance of Milestone Town Center, which includes a wide variety of shops including grocery, discount and department stores.

The Shady Grove Metro Station, Germantown Town Center and Montgomery Village are within a short drive.

Buyers can choose between the one-story bungalows, base-priced from $227,900 to $260,900, and the two-story town homes, base-priced from $291,900 to $312,900.

The homes include front and back yards and storage sheds, and they have been renovated with new appliances, heating and cooling equipment, roofs, windows, bathrooms, kitchens, paint and floor coverings.

They include contemporary-style maple cabinetry, stainless steel sinks and stovetops, built-in microwaves, washers and dryers and flooring with the appearance and texture of stone, wood or granite. Some homes include a front porch.

The Winterbrook, a one-bedroom bungalow with about 750 square feet, is priced from $227,900.

The home has a living room with windows on two sides, a dining room with a sliding glass door, a kitchen, a bedroom with a walk-in closet, a full bath, and three additional closets along with one housing the laundry machines.

The Springwood model, a two-bedroom home with about 900 square feet, is priced from $260,900. This home has a combined living and dining room with a sliding glass door, a kitchen that includes a washer and dryer, a closet, and two bedrooms sharing a full bath.

One bedroom includes a walk-in closet.

The Summerfield model, a two-bedroom town home with 1,194 square feet, is priced from $291,900. The first floor includes a foyer with a step-down to the living room, a dining room with a sliding glass door, a kitchen with a washer and dryer, and a closet. Upstairs, one bedroom has two closets and a private bath, while the second bedroom has a closet and an adjacent hall bath.

The Fallstone model, a three-bedroom town home with 1,194 square feet, is priced from $312,900. The first floor includes a foyer with a step-down to the living room, a dining room with a sliding glass door, a kitchen with a washer and dryer, and a closet. Upstairs, one bedroom has a walk-in closet, a second closet and a private bath, while the two additional bedrooms share an adjacent hall bath.

For more information or directions to Parkside at Germantown, call 301/916-1119 or visit the Web site at www.parksideatgermantown.com.

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