10317 Holbrook Drive Potomac - Williamsburg Gardens - $800,000

Listed by Long and Foster

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Williamsburg Gardens is a wonderful community located about a mile southwest of Potomac Village. Built in the early 1960's, this is one of the few communities in Potomac where you can find contemporary homes.

Situated on about 1/2 acre, this lot is filled with mature azaleas and flowering shrubs. Although a bit overgrown, this lot has great potential for a homeowner with a green thumb that knows how to resurrect the landscape. This yard must be a showplace in the spring - filled with color.

This contemporary is typical of those built in the 1960's. A basic rectangle, this split foyer was updated and expanded in 2003. An open foyer between floors is bright and filled with interesting art. The upstairs has a huge room for living area open to the updated kitchen. Done in light color cabinets the kitchen space looks into the expanded living area in the front of the house. The dining room is adjacent, with a sliding glass door that goes out to a deck overlooking the back yard. The deck is nice, but needs some maintenance. The railing is a bit rickety - and will need to be repaired. Overall though, a nice spot to eat dinner on cool autumn evenings.

On the other side of the home upstairs are three bedrooms and two full baths. The master bedroom is on the small side, and has one of the baths to itself. The current owners have moved their Master suite to the basement.

Downstairs has a large family room with masonry fireplace. There is a door to the carport off this room, with a storage closet behind. The right side of the lower level has a laundry area, storage and currently a master bedroom with full bath. The lot slopes upward from the front of the home to the rear, so you do get light and have windows in this downstairs bedroom. Once the new homeowner does some necessary pruning of the shrubbery in the front of the home, this room will be much brighter.

Overall, for someone that likes contemporary design, this is a nicely updated home. With the added space from the renovation and addition, this home gained extra space where it was most important - in the living area. This neighborhood certainly warrants the $800K price tag. Most homes on this side of Potomac are well above this price.

The last contemporary home that sold in the neighborhood settled for considerably less money. ($700,000) Although that home did not have a basement, it did have a 2 car garage and was located on a quiet court. It appraised for $675K, and the purchasers were willing to pay $25,000 above the appraised value to complete the sale. Another home on the same court is also under contract at less then $700K. Even though these homes are not in the Williamsburg Gardens community, they are the closest sales activity in the area. This is going to cause problems with the appraisal on Holbrook.

In order to get this home sold the price will have to come down below the current $800K. Even should someone come in with a full price offer, there is going to be great difficulty in getting this home to appraise. Because of its location, great schools and recent expansion, this home may appraise at $740K. When all is said and done, when and if this home sells, it will be in that price range.