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Saturday, November 29, 2008

SOLD - Infield Court - Fallsmead - $739,000


As soon as I pulled up to this home I was intrigued.

Great curb appeal, there is obviously someone with a green thumb living inside. Although the home was built in 1969, the effective age is a lot less. It is amazing the difference that regular maintenance and TLC can make.

When you walk into this home you fell as though you are walking into a model home. The colors are just right, the white paint on the trim against the darker wall color looks great. The contrast of colors makes the mouldings and trim stand out. This home was properly prepared before being put on the market.

This home has just gone through a complete renovation. All the baths have been updated, the kitchen is completely redone and the grounds are immaculate. A nice deck on the back and screened in porch allows you to enjoy the outside at least half the year free from pesky mosquitoes. Just reduced to $739K, this home is now priced right. I am sure there can be a bit more haggling in the price, but I see good value at this level.

The only down side to this home is the unfinished basement. Since I always like to see the glass as half full, there is a full basement that can be finished to your liking with home theatre and recreation room. With that said, this is serious competition to the previously review home on Betts Trail. I am making this home my value of the week.

Friday, November 28, 2008

South Glen Road - River Oaks Farm - $1,895,000


This home is at the end of a long private driveway just off South Glen Road, about a mile from Falls Road. All brick with traditional lines, this one will surprise you when you get inside.

The home has a traditional feel when you walk in the front door. When you look to the back of the home, there is a striking view up a main center stair and a large plate glass window to the blue sky above. What a beautiful architectural feature. There is some space wasted providing for this view, but is a larger home like this one, the wasted space is only a small percentage of the livable area.

The living room and dining rooms on the main level are good sized, but not huge. The diagonal hardwood planks are a nice touch and in fantastic shape. The family room is large and open, and has a full wet bar open to the space. Great for entertaining. A fully paneled library / office is filled with light, and opens to a smaller bedroom office upstairs. Very nice touch.

The basement is large, with a welcoming wide stairwell leading you downstairs from the main level. A full kitchen, bedroom and bath, and plenty of space in the fully finished and carpeted area. It leads out to pool and patio area in the backyard.

The upstairs layout is not to my taste, but certainly interesting. The master bedroom has one entire side of the home with separate stairwell. The other 3 bedrooms are good size and well located on the left side of the home. The master bedroom has great built ins, a separate Bedroom office and lots of closet space.

The back yard and pool are lovely. With extensive hardscaping, large deck and nice landscape, this is a great entertainment home. There is a large mansion being built directly behind this home that is actually an eyesore. They have built a large retaining wall (50+ feet) that is cinder block and very unattractive. If they brick this wall, it will be attractive and actually enhance the view from this home. If it is not bricked or finished in some way, it will be the only downside to this home.

This was reduced recently by $100k. It needs to be reduced by another 100K, and then it has a chance to sell.

Thursday, November 27, 2008

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.

Wednesday, November 26, 2008

10408 Great Arbor Drive - East Gate of Potomac -


East Gate is one of the few communities in Potomac to find Contemporary homes. Located in the Churchill school cluster, this home will attract those with a love of contemporary architecture and a need for good public schools.

This home is sited on a 1/4 acre lot with decent size yard. Heavily wooded, this home has privacy and shade to keep the home cool in the summer. Contemporary design means large windows and lots of them. Although they bring in great light, they can be a liability to your utility costs. Some of these windows have been replaced to provide decent insulation. Others may need to be replaced to make this home energy efficient.

The main feature of this home is a Master Bedroom loft on the second floor. Open to the cathedral ceiling family room, the loft gives an open and modern feel to this home. A stand alone modern fireplace becomes a focal point as the flue rises dramatically from the first floor, past the loft thorough the roof.

This home will attract those with contemporary tastes. The home currently lacks color or flair and will need a buyer with vision to fall in love. This home has great potential. Unfortunately, is is priced as if the complete rehab has already been done. It needs to come down in price significantly to sell. I see this one selling at 25% less then the current $995,000 list price.