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Sunday, December 14, 2008

Brickyard Road - Potomac Ranch - $2,445,000

I really liked this home when I saw it. On a beautiful lot of almost 3 acres, this home has lots of potential.

Built in 1980, this home was probably state of the art when built. Although still super attractive, this home is quite dated. Although the first floor and public space is in pretty good shape, the upstairs and living quarters will need a good bit of work. When the home is this large, this upgrade can add up to big money.

The lot on this home is lovely. A beautiful pool and tennis court are perfectly situated for easy access from the home. The lighted tennis court also has a basketball standard, perfect for a home full of boys. A large deck looks out over the pool and tennis, and a covered porch is adjacent and provides shade and shelter from sun and rain during the summer.

The basement is not all that large. It will need a complete renovation, but is lovely space with a masonry fireplace. A door to the exterior provides access to the back yard, and is sheltered by the deck.

The front of the home has a circular driveway and is well hidden by trees in front. I would thin some of the vegetation in front. The home is too pretty to hide completely. A bonus feature of this home is a full apartment that can be used for an in-law suite, domestic help or maybe a legal rental. There is an entry from one of the 4 garage bays that goes to a private stairwell upstairs. This feature is tough to find on Potomac Homes.

While I see value in this home at its current list price of $2.445mm, it will be a lot of work to bring completely up to date. The bonus being offered for a contract make it clear that the owners are anxious to sell. I think this would be a great bargain at $1.995mm. I doubt someone can steal it for that price, but it would be a good spot to start the negotiation. This will leave some cash in the buyers pocket to update all of the areas that need attention.

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