Real Time Real Estate | Eastern Shore July 2009
By Douglas Alan Ross
Cooke's Hope Exterior
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Cooke’s Hope, Easton
Primary Structure Built: 2002
Sold for: $960,000 Original List Price: $1,175,000
Bedrooms: 4 Bathrooms: 3.5
A tree-lined drive amidst open pastures leads to Cooke’s Hope, a planned community of three neighborhoods on Peachblossom Creek that is often regarded as one of the finest developments of its kind in the Mid-Atlantic region. Blending agrarian and residential property, the setting features five miles of walking trails, sanctuaries, a guided nature path for spotting a variety of wildlife, as well as a marina, tennis court, indoor pool, entertainment pavilion, putting green, and dog park—all adding value to the community’s sought-after residences. Located in The Village, a charming neighborhood of brick sidewalks, period-style lampposts, lush gardens, and streetscapes reminiscent of another era, this home sold in seven months for 82 percent of the original asking price—not bad considering two dozen nearby properties were also on the market. The 4,211-square-foot residence had an edge on its competition with first- and second-floor master suites, high ceilings, Brazilian cherry floors, an in-ground pool, above-garage office, and quality construction. “An oversupply of listings means buyers are looking at many homes, so quality and condition are important,” says Chris Young. The sellers paid $800,000 for the property in 2004.
Source: Chris Young, Realtor®, GRI/CRS/ABR, Lacaze Meredith Real Estate, 410-310-4278 or 410-770-3600
Tilghman Island Road, Sherwood
Primary Structure Built: 1977
Sold for: $741,000 Original List Price: $1,250,000
Bedrooms: 6 Bathrooms: 3
Wink Cowee assumed the listing on this Harris Creek contemporary after it had lingered on the market for four years at a price of well over a million dollars. When finally priced realistically—first at $850,000 and thereafter reduced to $799,000—Cowee, herself, found a buyer in four months! Before that, despite sitting on 2.5 acres at the end of a private, tree-lined drive, this licensed, income-producing vacation rental hadn’t been maintained and did not show well. The property was also overpriced while the market was still in decline. “This proves that proper pricing is essential and that sellers need to present a well-maintained property,” says Cowee. With expansive, easterly water views from both levels, a little TLC could turn this home into a real showcase. The entry level features a waterside sunroom with walls of glass, open living/dining room/kitchen with vaulted, beamed ceilings and stately brick fireplace, master suite, and two additional bedrooms. Three more bedrooms and glass-surrounded recreation/game room highlight the lower level, which accesses a deck, in-ground pool, and deepwater pier. The property last sold for $485,000 in 2001.
Source: Winifred C. (Wink) Cowee, CRS/Associate Broker, Benson and Mangold Real Estate–St. Michaels, 410-310-0208 or 410-745-0415
Marshall House exterior.
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Historic District, St. Michaels
Primary Structure Built: 1900
Sold for: $995,000 Original List Price: $1,045,000
Bedrooms: 3 Bathrooms: 2.5
The cozy, historic Marshall House was the only structure occupying its corner lot when purchased for $337,500 in 2006. Less than three years later, after meticulous restoration—plus the addition of a two-story, Federal-style house, brick courtyard and driveway, and extensive landscape work—Amy Berry listed and sold the property in just one day for slightly under a million dollars. Nestled between St. Michaels’ main thoroughfare and harbor, with a blend of historic and new, master craftsmanship, and expansion to a total of 2,457 square feet of living space, Berry was not surprised this gem was quickly snatched up. “Though not typical to list and sell in one day, it’s such a special, one-of-a-kind property, with so much attention paid to every detail, that it made sense for someone to see it and immediately fall in love,” says Berry. The original structure is now an extraordinary master suite that includes an all-marble bath, laundry room, fireplace, second-floor office with beamed ceilings, and wood floors that date to 1800.
Source: Amy Berry, Realtor®, Benson and Mangold Real Estate–St. Michaels, 410-310-0441 or 410-745-0415
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