Real Time Real Estate | June 2009 | Eastern Shore
By Douglas Alan Ross
With agent at the helm, back-to-back transactions smooth sailing
Time to move on, lighten the load, and bask in the freedom of less house, less property, less possessions, less amenities, less maintenance. But “less” doesn’t have to mean a drastic change to your comfortable and familiar lifestyle. Instead, much can remain the same…just on a smaller scale. A Queen Anne’s County couple recently downsized, selling the large home in Grasonville where they’d raised a family and purchasing a smaller home in nearby Centreville. Thanks to their listing agent, Janet Larson, who facilitated back-to-back transactions—both getting their home sold plus finding another and representing them in the purchase—they managed to preserve their accustomed lifestyle while sacrificing very little. Larson says the couple had planned to rent before moving to Colorado; however, “We found an incredible buy and they pulled the trigger to purchase. They had the confidence to make this move, and I believe it will prove to be an excellent investment.” Commenting on the real estate market in general, Larson observes, “Unique and well-priced properties have the best chance of moving in the current economic climate. And for those with nerve and foresight, it’s an excellent time to buy. There are some wonderful opportunities out there for long-term investment.”
What they sold…
Prospect Plantation, Grasonville
Primary Structure Built: 1980
Sold for: $1,450,000 Original List Price: $1,695,000
Bedrooms: 4 Bathrooms: 3
The particulars:
· Enclosed area: 3,269 square feet
· Total number of rooms: 14
· Lot size: 5.33 acres
· Last sold for: $518,000 in 1998
· Waterfrontage: 600 feet on Greenwood Creek
Even though their sprawling, brick and cedar rancher was on the market just two months, the couple accepted $245,000 (or 15 percent) less than their asking price. “It ended up right where we thought it would percentagewise,” offers Larson. “There was an excellent comparable two properties away that had sold a few months earlier for $1.5 million, so we were comfortable with the negotiated sales price.” Also taken into consideration was market’s continuing decline. Larson has no doubt that the major selling point was location. Boasting two fireplaces and spectacular views, the home wraps around a southwesterly-oriented point of land with a pier, boat lift, private sandy beach, and is just minutes by boat to the open waters of the Eastern Bay. Intelligent and appropriate renovations over the past few years provided further enhancements to an already-superb layout. Vaulted ceilings, hardwood floors, and exterior patios were added, and the kitchen and bathrooms underwent extensive remodeling.
Right: Aerial photography courtesy of Hunter Harris, Aloft, Inc.
…and what they bought.
Recovery, Centreville
Primary Structure Built: 1972
Sold for: $500,000 Original List Price: $849,900
Bedrooms: 3 Bathrooms: 3
The particulars:
· Enclosed area: 1,396 square feet
· Total number of rooms: 9
· Lot size: .94 acre
· Last sold for: $140,000 in 1980
· Waterfrontage: 100 feet on Grove Creek
This home in Centreville was a great buy, more than making up for the sales price of the couple’s Grasonville property. On the market for 866 days, with price reductions totaling $200,000 and stiff competition from an overabundance of inventory in the same price range, they paid just 59 percent of the original list price! Another brick rancher with a pier and boat lift, featuring a sunroom, two fireplaces, and ample space for the wife’s window treatment business, it was the perfect answer to the couple’s downsizing needs. “It was all about location and value,” says Larson. “They recognized the vast potential of this property.” Sited on a pristine creek in a quiet, established neighborhood, Larson says what really sold the couple on this house is the huge finished basement, which serves as an ideal getaway for their three grown sons. Complete with fireplace, bath, laundry room, and workshop area, it’s makes an excellent entertainment and media area that could easily accommodate a pool table and more.
Tags:
Waterfront Property
Centreville
Grasonville
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