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Friday, January 29, 2010

9629 Accord Drive - Concord - $975,000

Listed by WC & AN Miller

Google Map Here

Concord is a neighborhood on the left side of River Road as you approach Potomac Village from the Beltway. Just after the speed cameras, Accord Drive is on the left - a quick walk to The Village.

Homes here do not turn over often. Most are about 50 years old. There is a mix of colonials, splits and split foyers. Many homes in the community have been updated - some beautifully.

This home is a split level on just over 3/4 acre. The home is showing its age. The exterior and landscape need some urgent care and it seems the home is being marketed as a tear down for a lot as opposed to a renovation.

The home seems solidly built with hardwood floors throughout. The living room and dining room are on the small side - typical of splits built in the late 50's and early 60's. The kitchen is small with a view of the back yard. The bedrooms upstairs are teen size with a smaller Master Suite.

The lower level has a large Family room with fireplace. A full bath, laundry area and one car garage finish out this level. There is a basement which is unfinished with plenty of room for storage. There is a side exit door as well on the lower level. On the exterior at this exit is a greenhouse attached to the side of the home.

This is obviously an estate. The home is not yet cleared out with loads of boxes and possessions throughout the home. It seems to be mid-way through clean out. Because of this it does not show very well and needs to be thoroughly cleaned.

This home has LOCATION on its side. Close to Potomac Village, great Potomac Elementary and Churchill School Cluster and nice neighborhood all are positives. Although marketed as a knock-down, this is better suited as a re-hab. With $150K of work, and the potential of expansion, this home can be given new life. The price is unrealistic at this point for either a knock down OR re-hab. It will have to come down quite a bit to be attractive as either.

At the current price this home will linger for a long time in this market. It has already been on the market for 8 months without a reduction in price. A larger home sold down the street with renovations done at just under $900K with a much larger lot. I think this home becomes attractive at well under $800K.

Thursday, January 28, 2010

9813 Betteker Lane - Glen Park - $599,000

Listed by L&F

Google Map Here

Glen Park is a community of single family homes built in the late 1960's. A mix of styles, this is one of the few spots in Potomac to find a contemporary design. This contemporary home is on a sloped lot with about .35 acres of ground.

This home is not very attractive from the outside. The grounds are not tended and it looks like it has been some time since anyone has given this any TLC. The listing description is up front - this is a great candidate for rehab for the right buyer.

This is a split foyer with a wood exterior. The front door leads you to a small foyer on the lower level. To the right is a large family room. It is chock full of boxes with a ceiling that is completely in disarray from previous damage. The floor is concrete and you can see where 12x12 tile has been stripped from the floor. the bath on this level is functioning, but will need rehab. The base mouldings are gone - leading me to believe that maybe it was water damage from the ceiling in the adjacent Family Room. There is a bedroom completely filled with boxes that is impossible to navigate. A storage and laundry area finished out the space - also in disarray.

A LOVELY open tread contemporary wood stairway leads you upstairs. The room upstairs faces the front of the house and is filled with light. This space is organized and neat and nicely decorated. What a difference from downstairs. The kitchen is updated with granite and looks out on the upward sloping back yard. The 3 bedrooms are decent size with baths that have been updated at some point. Overall, the upstairs is not in bad shape.

After scratching my head trying to figure out this house I gave up. Although at $599,000 it is priced low for the area - it will need a lot of work. There is a similar home under contract that was listed for $719,000 on St. James. This home was completely redone and shows what the subject home "Could Be". I don't think St. James went for full price. Let's say $699K. With that said, I wondered if $100K could make this home look like St. James. The answer is no.

I would much rather pay more for St. James and get a home I could move into. This home could be a year long project with lots of surprises. If someone could pick this one up at $525,000 - it would make sense to renovate.

Not afraid of renovation? E-mail me and lets see it. Potomac is a great investment.

Tuesday, January 26, 2010

9 Reach Court - Fallsreach - $995,000

Listed by Long and Foster

Google Map Here

This is a beautifully maintained brick home in the coveted Fallsreach community. Built in the early 1980's this community was a move up community from some of the smaller older communities in Potomac. With a great location and the Churchill High School cluster - this community is always in high demand.

This home is lovely. With meticulously maintained landscaping and lovely exterior the home is certainly inviting. When the landscape is manicured this often foreshadows a similarly maintained interior. This home does not dissapoint.

With hardwood foyer and lovely decor this home is a turnkey solution for someone looking for a 4 bedroom home in Potomac. The Living room and dining room are tastefully decorated. The dining area leads you into a white kitchen with tile floor. Although a bit dated - the kitchen is so well maintained you could easily wait a few years before updating. The family room looks out on the back yard which matched the front - there must be a green thumb in this home. It is pristine!

The upstairs has 3 good size bedrooms, one of them with a separate bath - a few with wallpaper. The hall bath is not new, but has been updated. The Master bedroom is nicely done with plenty of room. The bath is original but in fine shape.

The basement is finished in carpet with a bedroom and en-suite bath for a Nanny or guests. Plenty of storage in the unfinished area and play space for the kids.

This home has been kept in great shape and shows beautifully. The cul-de-sac location just adds to the value. Although the asking price of $995,000 is tops in the neighborhood for the past year - this home warrants the price. The market is getting hotter and homes below one-million are in high demand. Low inventory is putting us back into a multiple offer environment. Look for this one to sell around $950K. If more then one offer comes in on this one - it could break the $1mm mark!

Monday, January 25, 2010

10330 Democracy Lane - East Gate of Potomac - $799,000

Listed by Forum

Google Map Here

This is a community of 90+ garden town homes set on 25 acres just off Democracy Boulevard. The homes have garages and brick courtyards in front, many with well tended gardens. For those that don't want the acreage, but do want the Potomac address, this community is a must see.

These homes are on small lots and attached. The feel of this community is not one of a town home, but more like a zero lot line home. This "L" shaped home has a 2 car garage and very little front yard.

The foyer of this home has a brick herringbone pattern tile floor. It is in good condition, but a bit dated. The foyer looks directly into the formal living room which has very nice mouldings throughout. An office with dated panelling is to your left. The room is an easy fix should someone needing a small office want to update.

There is a recently installed full bath in this home that you won't find in other models. The powder room was enlarged into a laundry closet to install a nice tiled stall shower. Why would you want a shower next to the front door? Who knows...but if you did, this is the home to see!

The old laundry closet is now smaller and not very well finished from the recent shower upgrade. When asking top dollar, you would hope this things would be done right. The family room is adjacent with a fireplace and some painted wood paneling. The kitchen has been updated with new granite and appliances. It looks like the old cabinets were just painted white. It would have been worth it to really get a good painter for this job. The painting throughout the house is less then first rate.

There is a slider to the back yard that is filled with an in ground pool. The patio surrounds the pool, and for some - this may be a nice feature. In many cases though - especially in a home with a small yard - buyers cherish the little bit of green they have to care for or garden. This would be more for someone that does NOT care about a yard.

The hardwood stairs have painted iron rails leading upstairs. The home has 3 surprisingly large bedrooms plus a Master with a sitting area. Very nice! The Bathrooms are a bit dated. The master has a horrible fluorescent fixture which would drive me nuts. You will see what I mean when you tour. The last owner installed some high end fabric wall covering and drapes. Obviously expensive - it may not be to every ones taste.

The basement is finished with carpet and drywall. The relocated laundry room has new high end washer and dryer. There is also a room for storage and utilities in the small unfinished area.

Overall, this is a nice house that may need some cosmetic updates. The pool is either an asset or liability depending upon the buyer. Three homes are under contract here - all at lower prices. Even with the market heating up, this one won't fetch $799,000. A more realistic price may be $750K even in this "brisk" market.