Highland Farm Court - Saddle Ridge - $4,200,000

HAPPY THANKSGIVING!

Can you say turkey?

To celebrate Thanksgiving Day, I am featuring a listing in Potomac that is $1mm overpriced.

Don't get me wrong, this is a beautiful contemporary home in one of the more exclusive communities in Potomac. Open and airy with lots of amenities, this home has it all for a luxury buyer. The problem is there are 20 other comparable homes on the market in Potomac at a significantly lower price tag.

This home has 5 bedrooms and 5 full baths on the upper level. The main level has a unusual design. The rooms are not palatial, and have good scale. I expected them to be a bit larger based upon the price. A small sun room and small sunken study off were the only rooms out of scale.

The basement is large, and finished. There are two additional bedrooms on this level that can be used for an au-pair or maid. There is also plenty of room for Billiards, Home Theater and exercise room.

The backyard has a pool and pool house, and is nicely landscaped. The lot is approximately two acres, and is completely fenced in the back.

Is the cache of the neighborhood worth a large enough premium to warrant this price? Only time will tell. If you based your guess on review of the competition for similarly appointed homes in the area, it would be a tough sell. The competition in this market is ferocious. It is my guess that this home will sell at between $3.0mm and $3.2mm when all is said and done.

10513 Rivers Bend Lane - Marwood - $2,750,000

As many of you know, I am not a fan of Marwood.

It is overpriced, sterile, and not at all a good value for Potomac. I must say though, this home was very nice with some super features.

The owners bought this home in July of 2005 for $2.37 million dollars. At that time, we were towards the end of our go-go market. Everyone felt as though their investment in a new home was going to rise by double digits each year. As we all know, those days are gone.

This home has wonderful curb appeal. It is on a cul-de-sac, and has beautiful balance. The professional landscaping shows well, and the entry is inviting. The front door leads you into a beautiful foyer with crystal chandelier. Crystal sconces line the walls of the dual staircase leading you upstairs. It took me a few minutes to realize that this was not a model home. It is so tastefully decorated that you may feel you are in a model.

The tile work in this home is extraordinary. The selection in all of the baths is spectacular, and obviously expensive. Porcelain tile in the kitchen, specialty tile in the baths, and a fabulous master bathroom entry with metallic tile of all colors.

This basement is finished, although dark. It has an exterior entry through a stairwell, but not much light gets in. The home has 5 bedrooms and 5 baths, but it is not large for the price point.

This home may sell for $2.1 million when all is done. It would be to someone that fell in love with the features, neighborhood, or some other intangible to lead them to an offer. There is so much more in Potomac at so much less money: Better neighborhood, more convenient and better value. Although I feel bad for the sellers, they will not get what they paid for this home. Even though it shows like a model, so do many others. I hope the sellers can make some money back in the next property they buy.