Summertime in Potomac

It has been such a wonderful summer so far.

The weather has been cooler then normal allowing us to stay outside much more often then usual. My air conditioning bills are lower then normal, and sitting out on the back porch with a glass of wine is a treat during cool summer evenings.

Also unusual is the dynamic nature of the local real estate market. Instead of shutting down for the summer, the market has been hotter then the August weather. Inventory in the Potomac area is the lowest it has been in almost 2 years.

What does this mean? I believe we have hit the real estate "bottom" that everyone is looking for. Sellers are becoming more realistic as to the value of their property and those that price right are rewarded with a quick contract. This allows them to go out and find a deal on a new home to replace the one that sold. For a change, the market seems healthy.

Most houses priced at $1mm and below are moving quickly. It is much easier to finance these homes with attractive rates and lower down payments. The market at $1mm and above is still suffering a bit. To sell in this range, a home has to VERY aggressively priced to stand out in a large inventory. The financing in this range is a bit more difficult as required down payments are much higher then they were in the past, and rates are not nearly as attractive. The available pool of buyers for these homes are fewer in numbers then they were in years past. It is still a buyers market in this range.

Anyone that is considering selling a home should be speaking to me NOW. We have 3 weeks to get your home prepared for sale with a plan to aggressively market it after Labor Day. The buyers will be out in the Fall, and those that are ready for them will sell their homes quickly and for the highest price.

My last 2 listings sold within 3 weeks. Both were priced right and we planned a marketing campaign in The Washington Post, Craigslist, Direct mail, Open Houses and telephone marketing. The amount of traffic generated by the neighbors and friends that came to the open houses contributed to multiple contracts on both properties. My sellers were very pleasantly surprised that my claims to generate this traffic came to fruition. 25+ years of experience has its advantages!

If you are looking to list or sell your property in Potomac, Chevy Chase or Bethesda - Call me today. You will be pleased at my philosophy of under promising and over delivering. Most important, your smile at settlement. This is when you truly realize you made the right choice and got the best person for the job.

.REVIEWS START AGAIN SHORTLY. MY SUMMER HIATUS IS ALMOST OVER. CHECK BACK OFTEN FOR THE RETURN OF THE POTOMAC SECRET AGENT!

Happy Summer!

11723 Devilwood Drive - Regency Estates - $625,000

Listed By Long and Foster

This is a nice home on a quiet street off Postoak Road in Regency Estates. From the road it is pretty with a nice lawn and well maintained exterior. A nice lead walk brings you directly to the door from the driveway. Lovely landscaping will be beautiful while in flower.

You enter the home and walk into a nice foyer floored with ceramic tile. The kitchen is on the right with a tile floor, granite counters and nice cherry cabinets. I think the oven is much older. This is an easy fix for new homeowners. A door from the kitchen leads off to a side deck. This home does not have a garage. Not too large, but plenty of sun and a great place to destress after a long day at the office.

You walk through the foyer into the living room which is good size. It is adjacent to the dining room with a table that will have room for at least 6 and maybe 8 with ease. The floors throughout the upper level are hardwood and in good shape.

There are 3 bedrooms and a master on the first level. The bedrooms are kid size except for the master which is adequate. The master bath has been nicely remodeled with blue tile it looks great. The hall bath has been upgraded but the original muted yellow tub is still in place.

Downstairs is finished with carpet. The fireplace is nice and has plenty of room for a TV or rec room. There is plenty of storage in an unfinished section, and a slider takes you out to a lovely backyard and slate patio. The laundry area is under the kitchen as is another bedroom. A modern glass block wall without a formal door encases a full bath and shower. Very modern, very nice, albeit a bit out of place. Someone could work with this and make it a winner.

Overall, this is a nice home on a nice street at a nice price. The agent priced it right and it should draw traffic. I see an offer quickly on this home. Somewhere around $610K once settled.

12305 Old Canal Road - Montgomery Square - $749,000

Listed By Weichert

Google Map Here

Montgomery Square is on the Rockville side of Montrose road and is part of the Richard Montgomery High School Cluster. This is a nicely maintained community of brick and frame homes built in the 1960's. This community is a great place to find the expensive Potomac mailing address at a discount.

This home is a nicely landscaped brick and frame home with a one car garage. There are two ways to enter this home, from the garage or up a few flight of stairs to the front entry. The landscape is well maintained and the home has nice curb appeal.

The foyer is hardwood with the stairs going up on your immediate left. To the right is a piano sized Living Room which has been well staged by the homeowner or Realtor.

The kitchen floor is tiled and has natural pine cabinets. There are Corian counter tops and newer dishwasher and range. There is room for a good size table here for all to sit and eat. Although updated, the kitchen at some point will need a face lift. (Don't we all!)

There is a laundry room adjacent to the kitchen with resilient floor and pantry. There is an addition on this level that has a decent size bedroom or office, full bath and family room in the rear. The rooms are carpeted with Berber and family room has a slider to a deck overlooking a lovely back yard.

The upstairs has an extended Master Suite with large Master Bath. The other bedrooms are teen size with a recently redone hall bath to service them.

The basement is finished and below grade. Carpeted with room for a TV area, it also serves as an entry from the garage to the upstairs.

This is a nice house, larger then it appears from the outside. It has been a long time since I have seen a house in the $749K range in Montgomery Square. Those that were in this range were fully renovated and on nicer flatter lots. This is certainly a nice home, but we have to take into consideration the current market which is at least 10-20% lower then 2 years ago. This one will end up in the $650K range once settled.

9441 Tobin Circle - McAuley Park - $1,499,000

Listed by Long and Foster

McAuley Park is a lovely community that runs along Kentsdale Drive and borders Cabin John Regional Park. This is a well maintained enclave of homes that feeds into the Churchill High School Cluster. It is consistently a sought after community.

This home is a pretty brick colonial on a nicely landscaped lot. There is good curb appeal. The foyer has brand new hardwood floors that run through to the powder room adjacent. The living room and dining room are on the right side of the home with formal mouldings and plenty of room.

The back of the home has been extended. There is a large breakfast room in the back of the home just behind the kitchen. Encased in glass, it brings the outside in with plenty of natural light and views of Cabin John Regional Park behind the home. A deck with elaborate (Expensive) rails is spacious and attractive. There could be some fabulous Potomac parties in this space.

Because of the extension the kitchen is now in the center of the home. Large and open it is due for a makeover. The space would accommodate a spectacular kitchen with all the latest updates. Currently it is a bit tired and dated. It will be on the short list of things to renovate.

The family room is adjacent to the kitchen and has a large stacked stone fireplace that is super. The family room was also extended and has lots of space for the family and entertaining. With cathedral ceilings it has huge potential once the home is renovated.

Behind the garage and addition has been added to the home housing a Master bedroom wing. Very nicely done, with modern design this will WOW the right buyer. It is a lovely escape from the main home and offers privacy and seclusion after a long day of work.

The upstairs has 4 bedrooms. Currently one of them is open to the family room downstairs and is used as a loft work area. The other 3 baths are en-suite and decent size. All of the baths in this home will need renovation sooner rather then later.

If you can look past the old kitchen and baths, this is a fabulous home. The new master suite will steal someones heart, but at $1,499,000 it is no bargain. It needs quite a bit of additional renovation to ever sell at that price. I see this more in the $1.3mm range once settled.