Friday, February 11, 2011

10409 Garden Way - Williamsburg Gardens - $849,900

Listed by L&F

Google Map Here

FORECLOSURES? In Potomac? In MY neighborhood?

YES. YES and YES. It is happening everywhere and very few areas are insulated from the economic problems that have plagued the US for the past 4 years. Expensive neighborhoods are no less susceptible than lower priced neighborhoods during this crisis. In the interest of full disclosure, I live a few blocks away.

This home is at the corner of Garden Way and Falls Road. It is a short walk to Potomac Village, and is situated on a half acre. The home is sited sideways on the lot - so the back yard is narrow with lots of room on the sides of the home. The driveway is large and can easily fit 4 cars in addition to the garage.

The home has a brick front, brick stoop and huge columns in front. The columns are a little overdone for my taste - but are not out of place. The landscape and outside can use a little TLC - but has some potential to look good with a little work.

The interior has a shallow foyer with ceramic tile. The mirrored dining room is to the left and a formal living room to the right. Both of these rooms have nice hardwood floors.

The ceramic continues through to the kitchen - which is nicely updated with white cabinets and granite. A gas range on the island is a nice touch - and a bright breakfast area has doors out to a raised deck in the back. The family room is nice with high ceilings and a lovely fireplace. Another set of French doors brings you out to the deck. This would be nice for circulation during parties. A powder room, laundry room and garage finished off the first level - and so far - so good.

Going upstairs you could see water damage on the ceiling in a few spots. The bank has done what it can to limit the damage - but certainly the drywall will have to be repaired in a few spots. The Master bedroom is a good size with a large master bath. The fixtures are a bit dated, but that is an easy fix. There is a separate room with a commode that has a skylight and shower. There is mold or mildew throughout this area. A large walk in closet is shelved out - but could be used more efficiently with additional shelving to make better use of the limited space.

There are 3 other teen size bedrooms on the upper floor. All of them are in decent shape - there is some minor drywall and painting work from damage around where curtains and ceiling lights previously existed. A hall bath is large and would be plenty of space for the teens in residence on this floor.

The basement door opened - and you can see where carpet has been removed from the stairwell and floors. Water damage is minimal and the space downstairs is nicely apportioned. A nanny suite with full bath and plenty of room for the family and home theater exists down here. A walk out door to the yard provides some light - and the space here works just fine. A bit of paint, drywall repair and nice carpet will make the world of difference down here.

Overall - this is a decent house on an OK lot. The neighborhood and location are blue chip. The schools are blue chip. It may be a great opportunity for someone to move to this side of Potomac for a great price. The home will need at least $20K to repair and paint and carpet. If the house was brought up to date and looked fabulous - it would sell in the $900K to $930K range. I see this selling at close to asking price within 45 days.

Tuesday, February 8, 2011

7849 Coddle Harbor Lane - Inverness Knolls - $267,000

Listed by Best Address RE

Google Map Here

Who knew there were 2 bedroom condos in Inverness Knolls? It was tough to find this unit, as it is behind and underneath town homes from the street. There is a whole line of these rear units that are set up as 2BR condos.

The walk around back to find this unit is interesting. There seems to be a lot of personality on the outside of the other units along the walk. Some over the top gardening and decor had me wondering if there was really a condo association that kept a reign on what the place looks like.

The condo has a small fenced front entry with a swinging gate in front. The unit is not unattractive with a lovely brick and siding veneer. The front door is freshly painted red, foreshadowing a complete rehab inside.

This small 744 square foot unit was completely gutted. A combo Kitchen, family room and breakfast area takes up the front of the condo. New wood floors and an attractive stainless and granite kitchen look great. There is decent light, even with the dense woods in front of the unit.

The 2 bedrooms are very small. I wondered if it would be better to consolidate the two rooms into one. The bathroom is small, but completely redone as well. Looks nice!

This is a nice, albeit small, two bedroom condo. I am not a fan of the physical location of the unit, but the community location is great. At $267,000 they are pretty close to market price. An identical unit sold for just over $360K early last year after concessions were paid.

I think the seller has done their research and has this priced properly. It should sell somewhere above $360K based upon previous sales. If the right person sees this unit - it could go for full price. See my review on the unit that sold early last year by clicking HERE.

Wednesday, February 2, 2011

10129 Colebrook Avenue - Bedfordshire - $780,000

Listed by WC & AN Miller

Google Map Here

This partial brick colonial home is located in Bedfordshire - a lovely community in the Winston Churchill School Cluster. Because of its close in location and blue ribbon schools - this community is always in demand for both first time and move up buyers. Many of the homes in this community have been upgraded beautifully. Homes that are original are also sought after so the new owners can put their personal stamp on the property. Driving through - you will always see homes in various stages of renovation.

You enter this home into a small foyer with beige octagonal tile. There is a living room to the left and family room to the right - both with hardwood floors. The kitchen is in the rear of the home - and has been nicely upgraded with green granite and updated black appliances. There is a lovely tile back splash in the kitchen that really looks great. Nice job by the previous owners.

A dining room abuts the kitchen on the left side with a nice window looking out into the yard. On the other side of the kitchen is a laundry area and mud room that leads out to the two car garage. There is a large deck out back which will be a great spot for sharing a beer or glass of wine on cool summer nights.

The stairwell upstairs leads to a narrow foyer, typical of homes of the time. The master bedroom is decent size with an original master bath. The white and yellow tile is a blast from the past. Although functional - many new homeowners will want to update the master in short order.

The basement is finished with carpet and is nice an open. A large granite bar is a bit out of place, but I am sure a welcome addition during a party. An side room would be a great place for a large screen TV and surround sound. The space is dated, but does have a lot of potential. Additional storage separate from the finished space is a great asset for a home of this size.

Overall this is a nice home with good structure. It will need some work - but the downstairs "public" area is in nice condition. The baths upstairs, and updating the basement can be done when funds allow it, and will be out of site of company while being done. In my opinion it is a bit aggressively priced at $780,000. Based upon other sales in the area and condition - this should sell somewhere in the $720,000 to $735,000 range.