Saturday, April 24, 2010

Where Have I Been? The market is HOT!

The best way to figure out if anyone is reading what you write on-line - is to stop. I have gotten over 20 e-mails asking if the Potomac Secret Agent has taken a sabbatical. I have to apologize to all my patient readers. It is not as if I have stopped seeing and reviewing homes. I have been incredibly busy selling my listings and finding homes for my purchaser clients. THE MARKET IS HOT!

After a very difficult 2009, 2010 started off strong. Between the $8000 tax credit and pent up demand - the market is as strong as I have seen for years. Low inventory, motivated sellers and buyers looking for a bargain have really given a boost to our local market.

With that said - what does it mean to you?

If you have been waiting to sell a home - stop waiting. The market is back. There is little inventory in the Potomac market - and those homes that are priced right are selling quickly. Some of them are recieving multiple contracts and selling at above market price.

For all of you that want to enter the Potomac market - or sell your home here to move up - Don't Wait!Prices are already increasing in our marketplace. I see a 5% to 7% increase in prices in Potomac this year. The only segment of the market still suffering is the $1.3mm and above. Larger down payments and stricter lending guidelines are decimating this segment of the market. The deals to be had in this segment of the market are extraordinary.

So - where do we go from here?

I have sold 5 of my listings and need some inventory to sell. If you have not yet listed your home - call me. You will get my undivided attention to sell your home quickly and at the best price. We can than focus on finding you the home of your dreams in Potomac. Shoot me an e-mail and let me send you a list of my satisfied customers. Better yet - call today and become one of my satisfied customers!

Thursday, April 8, 2010

7400 Brickyard Road - River Falls - $1,149,990

Listed by L&F

Google Map Here

River Falls has always been one of my favorite communities in Potomac. It has a fantastic cohesiveness - and is a neighborhood where many that grew up here - come back to raise their families. I feel there is no better reason than that to put this community on your must see list.

Brickyard Road connects MacArthur Boulevard and Falls Road. The road defines the eastern border of River Falls, and has a series of traffic circles to keep speeds low. This home is hidden from the street by some large pines - and there was no hint of traffic noise from inside.

This is a formal colonial with a typical center foyer. Living room left and office right - the home is nicely decorated. As you work your way back to the kitchen - you notice BOLD decorating choices. Colors are avant garde and some may say cutting edge. Every good Realtor will tell you - Paint is cheap.

The kitchen is lovely. Taking a page from HGTV - they have opted to leave out upper cabinets in the kitchen area which gives the room a much different feel. There is an enormous center island - granite and base cabinets - that will provide a stage for any home cook. A back wall of windows brings plenty of light into this space.

A door to the deck provides access to an incredible outside space. A large spacious deck leads to a screened in gazebo to allow you to enjoy the cool evenings without the bother of ubiquitous mosquitoes. A fenced yard and garden is a lovely backdrop to the deck and will be a joy for those with a green thumb or pets that need a fenced area.

Although this is a nice home - it is a bit over the top from a decorating standpoint. The kitchen has an interesting plan - but maybe not the most practical. There is not a exhaust to the cook top - the kitchen cabinets are IKEA and the "flow" is cumbersome. Not the best choices in a $1mm+ home. With that said - I see this settling at a discount from list price. The cost to tone this home down and "fix" the kitchen will be calculated into any offer. Look for this to settle at around $1,050,000 when the ink is dry.

Tuesday, April 6, 2010

11817 Hayfield Court - Glen Oaks - $799,000

Listed by L&F

Google Map Here

Glen Oaks is a lovely community just off Glen Road in Potomac. Built in the late 1960's - this community has been a sea of renovation over the last few years. Great schools (Churchill Cluster) and good location makes this neighborhood a perennial favorite.

This is a brick and frame "Pine Forge" model located right on a cul-de-sac. Although this home has not been updated - it is on a great lot and is ripe for picking. Replete with 1970's wallpaper in the bedrooms - this will need a head to toe update.

With that said - it is also priced to reflect it will need work. There is a bunch to be desired about the location and lot. A large screened porch and fenced yard provide a private oasis for summer evenings.

The home has good bones. Hardwood throughout - nice mouldings - built-in and bookshelves the assets outweigh the liabilities. Someone that is handy - or is willing to do the update will get their investment back dollar for dollar.

It is going to take someone with vision to see what this house "could be". I think that someone willing to take the plunge and spend the time to renovate will be handily rewarded. Look for this one to sell in the $760K to $775K price range.

Sunday, April 4, 2010

9324 Reach Road - Fallsreach - $960,000

Listed by L&F

Google Map Here

Fallsreach is a community of Single Family homes built in the late 1970's off Falls Chapel Road. These brick and frame homes are ever popular, and is a destination for the move up market from smaller Potomac Communities.

This home is located on a "pipestem" lot off of Reach Road. Although I am not usually a fan of shared driveways - this group of homes was done extraordinarily well. The homes face each other giving them a "cityhome" feel with plenty of parking and nicely groomed landscape. This brick colonial has a great yard and really seems to have been well taken care of.

The formal entry of this home is nicely tiled with a typical colonial floor plan. The walls have been finished with a decorative plaster and paint. It looks nice - but may not be to every ones taste. The decor and trim are well thought out and the home shows beautifully.

As you walk to the back of the home the room opens up. The kitchen and back of the home have been extended with a high end renovation. High end stainless appliances - lovely Silestone counters and cathedral ceilings make this home perfect for entertaining. An adjacent family room is a perfect place to retire after dinner to watch the news or read the paper.

The bedrooms upstairs are good size with a large hall bath. The master bedroom is updated with a nicely done bath and new windows (Throughout the home)

Downstairs is a finished basement with a walkout to the back yard. A full bath and bedroom is perfect for an in-law or nanny. There is still room remaining for storage, TV or exercise.

A recent sale in Fallsreach on Reach Court supports this price. I see this one selling within 30 days between $935K and $950K.

Friday, April 2, 2010

10706 Great Arbor Drive - Red Coat Woods - $769,000

Listed by Weichert

Google Map Here

The fabulous part of Red Coat Woods and East Gate homes is the way that folks renovate them. This is one of the few communities that were developed exclusively with Contemporary design in the Potomac area. Built in the early 1970's many have been beautifully renovated - all of them a little bit differently.

This home is across the street from a home I reviewed last week. Both are renovated - both done differently. This home has had a multi story addition on the front to extend the foyer area and stair landings. The addition made a big difference in the feel of the home - and is very different from the home across the street.

This home is on 3 levels. The bottom level is for the Family Room - Powder Room and storage. The Family room here has been used as an office with lots of built-ins and storage. Large windows flood the room with light. The powder room on this floor is the only remnant of the 1970's left in this home. The orange sink made me smile - and looks great in this design.

The second level and kitchen was renovated in the late 1980's early 1990's. Although not completely up to date - the modern white still works in the decor today. The hardwoods and large windows give an open feel to the space. The wooded lot is true to the modern design - bringing the outside in. Any lover of modern will like what they see.

The bedrooms are typical for a home of this style and era. Lots of glass - lots of light and in this home - lots of built in storage. This home has a lot going for it. The two car attached garage makes the price "right on".

This is a nice home that is ready for some inexpensive upgrades. The price is right at $769,000 and the market should snap this house up priced at this level. I see this one selling within a few weeks at around $760K.