Real Time Real Estate | Annapolis | May 2009
By Douglas Alan Ross
A Tale of Three Colonials
South River Spring Lakes, Davidsonville
Primary Structure Built: 1987
Sold for: $850,000 Original Listing Price: $899,900
Bedrooms: 7 Bathrooms: 3 full/2 half
Despite being surrounded by four private acres of land dotted with beautiful trees and mature landscaping, selling this home presented a challenge for listing agent Melissa Murray. Featuring modifications specifically geared towards a multigenerational family, Murray felt that a traditional family wouldn’t be able to make adequate use of the living space. So it necessitated finding a buyer who was interested in such an a typical arrangement. The configuration actually insulated it somewhat from today’s market, because soon there was a contract from someone whose needs perfectly matched what the home offers: an ideal situation for a family of three generations that wanted to live under one roof. Murray admits to being “surprised that it sold as quickly as it did—in only 3-1/2 months—based on the average number of days on the market for homes in the same price range.”
Comprising 4,200 square feet (not including a window-filled, 1,700-square-foot unfinished walk-out basement), this immaculate center hall colonial is two homes in one: a 5-bedroom, 2-1/2-bath, 3-level main house, and a 2-bedroom, 1-1/2-bath main level apartment. The main house has undergone recent interior renovations, including granite countertops, stainless steel appliances, ceramic tile flooring, and huge breakfast bar in the gourmet country kitchen; granite vanities, marble floors, maple cabinetry, and designer tile work in the bathrooms; gleaming hardwood floors on the main level; exquisitely detailed custom moldings, trim work, and window treatments; and a designer paint job. The 1,400-square-foot apartment is handicap accessible via a large, side-entrance ramp, and includes a dining room, family room with fireplace, eat-in kitchen, and many handicap modifications. This property last sold in 2004 for $695,000.
Source: Melissa Murray w/The Murray Home Team, Sales
Associate, Coldwell Banker Residential Brokerage, 443-995-2626
or 410-224-2200
Ulmstead Estates, Arnold
Primary Structure Built: 1972
Sold for: $490,556 Original Listing Price: $619,900
Bedrooms: 4 Bathrooms: 2.5
After eight months and two price reductions (totaling a whopping $130,000), this 2,246-square-foot colonial finally sold. The seller accepted an offer that was 79 percent of the original asking price and also paid $18,000 towards the buyer’s closing costs. Purchased for $620,000 in 2006 translates to a loss of nearly $150,000 in three years. “This sale was typical of many we are seeing in today’s market,” says listing agent Jean Andrews, even though the home features a side-entry, 2-car garage, nice front porch and back patio, new roof, large rooms with beamed ceilings, hardwood floors, and neutral décor, as well as being situated on a half acre in an amenity-packed, desirable, water-privileged community on the Magothy River.
Fair Oaks on the Magothy, Severna Park
Primary Structure Built: 1976
Sold for: $600,000
Original Listing Price: $665,000
Bedrooms: 5
Bathrooms: 2.5
Selling for 90 percent of the original asking price, with the owner contributing $18,000 towards the buyer’s closing costs, this colonial was in need of some attention and listed “As Is.” Last purchased in 1991 for $281,500, the 2,508-square-foot house sits on a 1/3-acre corner lot and is highlighted by attractive landscaping, offering plenty of curb appeal. The interior features hardwood floors on two levels, crown molding and chair rail in the dining room, an eat-in kitchen with double pantry, family room with brick fireplace and French doors that open to a multi-tiered deck, master suite with an addition that has a huge walk-in closet and its own laundry area, an unfinished basement with workshop, and a 2-car garage. The fifth bedroom has carpeted, walk-up stairs to the attic, providing the potential for expansion. Community amenities include a dock, boat slips, beach area, waterfront swimming pools, covered pavilion, and basketball court.
Source: Jean Andrews, CRS, GRI, Associate Broker, Champion Realty, Inc., Severna Park, 410-975-3286 or 443-871-5595
Tags:
single family houses
real estate
severna park
davidsonville
housing market
douglas alan ross
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