Someone has to remind Potomac area sellers that we are in a "buyers market". It is no longer 2005 when you could put almost any price on a home and get attention.
McAuley Park is located off of Kentlands Drive in Potomac. A lovely community, this area has lots of home all $1mm and higher. This home is on a lovely cul-de-sac and beautifully sited on a 1/2 acre lot. Built in 2000, this home is in good condition and shows well.
With 6 bedrooms and 5.5 baths, this home has plenty of room for a family. With high ceilings and nice room sizes it is what you would expect from a 1mm+ home in the Potomac area. The colors are neutral, the home well decorated and it is easy to visualize what it would look like with YOUR furnishings inside.
So, what is the problem? The price. This home is 300K overpriced. There is so much competition in this price range. This home does not hold a candle to its competitors in the $2mm range.
Normally I would blame a mis-priced home on the agents. More and more I am finding that even the great agents in our area are not able to talk sense into homeowners. Unfortunately, when this happens, everyone loses.
This home will languish on the market at this price. It may stand a chance of selling at $1.695mm, $300k less then its current list price. With that said, it would probably settle at between $1.6mm and $1.65mm when the papers are finally signed.
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