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Thursday, November 12, 2009

4 Beman Woods Court - Avenel - $1,795,000

Listed by Long and Foster

Google Map Here

Avenel is a lovely planned community tucked in between Falls Road an Persimmon Tree Road. Upscale, it is the home of the TPC Potomac Golf Course that has just been selected to host the US Senior Golf Open. With a mix of detached, attached and zero lot line homes, this is a beautiful and well maintained place to live.

This Natelli built home is located on the golf course with views of the 17th and 18th fairways. A traditional brick colonial, this home shares a cobble driveway with a neighbor. The home is well maintained with groomed lawn and lovely landscape.

This home is a showplace. The foyer is open and warm with lovely hardwood and a 2 story foyer. Lots of windows let in plenty of light - you feel as though you are in a model home.

The large dining room is to your immediate right, with nice moulding and tasteful decor. You are drawn into the kitchen which is top end with granite and top of the line appliances. The kitchen has a nice breakfast area and is wide open to the family room. A slate patio looks upon the golf course and seems to be a great spot for a glass of wine, or front row seating for any golf event. A lovely dual fireplace peeks through to the living room on the other side. A large piano makes this room formal - once again open to the foyer.

Upstairs has 4 bedrooms, all en-suite. A large master bedroom has a smaller master bathroom attached. A full wall of windows keeps the room bright and a wall of built in cabinets hides the tv and stereo. There is a hall bath at the head of the stairs that seems out of place. Aren't all the bedrooms en-suite?

The basement has an open stair that leads to the main finished area. A large pool table, TV and seating makes for a great game room. A wine cellar will hold at least 500 bottles - even a tasting table to decant your favorite wine. Another large room serves as a library with floor to ceiling bookcases and comfortable seating areas. A full bedroom and bath for guests, or a very lucky Nanny in addition to plenty of storage space.

This home is priced right based upon the latest comps. This home is a perfect turnkey home for Tiger Woods, a CEO or high level executive. Great schools for the kids, chic golf and fabulous pedigreed neighborhood. If you are looking in this price range let me represent you. I want to negotiate for a case of the Opus One in the cellar with a ratified contract!

Monday, November 9, 2009

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

Listed by Long and Foster

Google Map Here

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.

Saturday, November 7, 2009

11427 Bedfordshire Avenue - Bedfordshire - $899,000


Listed by WFP

Google Map Here

Bedfordshire is a lovely community off Glen Road built in the 1970's. Typical of the era, there is a nice mix of splits and colonials on 1/4 acre lots.

This is a good looking home from the exterior with nice curb appeal. This split level has been well maintained with nice landscape that could use a little grooming.

The foyer is open with hardwood floors. The kitchen is updated with white tile floors. There is a nice size dining room and living room. The family room is filled with lovely paintings with bright colors. The home shows well, almost feels like a gallery with all of the artwork on the walls.

The home has been enlarged in the back. You look out to a back yard with lovely pool and fenced yard. Hardscaping and retaining walls will appeal to those with an aversion to yard work.

The additional space added to this house really shows in the upstairs Master Bedroom. You enter into a sitting room - which is currently being used as an artist studio. Skylights bring in great natural light, even on this dreary day. You step up to the master bedroom and bath which has been nicely upgraded. This space feels very private and insulates you from the outside world. Nicely done!

The other three bedrooms upstairs are decent size and also show well.

The lower level of the split has an additional bedroom and full bath. The stairs take you down to the lowest basement level which may be spacious, but is filled with clutter and boxes. It would be nice to see this space empty to get a better perspective of how the room would work for a perspective buyer.

Overall this is a nice house with a great addition. It was reduced from its initial price of $925k. It may have to be reduced further to sell in this market. The last sale of an updated split went for $768K (net) in August. This comp was on a half acre lot and also had an addition.

This home on Bedfordshire Avenue was purchased for 800K March of 2005 at the height of the market. 8250K may be the right price for this home to get it sold. Although my heart breaks for those folks that bought in 2005-2006 at the height of the market. Reality dictates that to get the home sold, you have to be aggressive.

Wednesday, November 4, 2009

Potomac Secret Agent hits 200 Reviews

WHERE have you been? Have you stopped reviewing? Are you out of the business?

Goodness, you never know how much people care about what you write until you don't!

In the midst of taking care of my wife and kids, my existing clients, my personal business and all of the unplanned events of a week - I write.

Sometimes for reasons beyond my control I get so busy, the blog becomes secondary. With that said - I am back in the saddle and am celebrating my 200th review since starting this website almost a year ago.

The truth is, what is causing my absence is a incredibly strong market. I have put in three offers since my last post and have negotiated 2 offers for my listings. Between home inspections, contingency removals, open houses and showings...there was not time to write. This is very good for Potomac homeowners, as it foreshadows an improving market. It is a warning to those that have been sitting on the sidelines, as homes will be moving more quickly and at higher sales prices.

The inventory in Potomac for homes under $1mm (Yes, that is Million) is less then 2 months. This means that any home priced within reason will go under contract quickly. I wish I could say the same was true for homes over $1mm. There is almost a 2 year supply. Any home that needs to sell is going to have to be priced aggressively and marketed strongly.

You will find over the next few months that my reviews will be weighted towards the under $1mm selections. This is obviously where the action is, and I want my readers to be up to speed when making an offer or preparing to search. As always, if there is a question about the viability or value of ANY property in Potomac - e-mail me and I will take a look and report. This is meant to be a DYNAMIC site where input from readers is highly encouraged and is generally helpful to all.

Most important is that you know I can represent you in all of the tri-state area, not just Potomac. I chose Potomac because I live here and am raising a family here. It is important that I am intimately aware of what is on the market, and if the price is fair. More then half of my sales are outside of the Potomac Zip Code. Don't hesitate to request me to find you a home anywhere in Maryland, DC or Virginia.

OK, I have explained where I have been and where we are going. Isn't it time for you to get off the couch and start shopping?