Real Time Real Estate | Annapolis April 2010
By Douglas Alan Ross
Shadow Point, Edgewater
Primary Structure Built: 1937
Sold for: $650,000
Original List Price: $799,900
Bedrooms: 6 Bathrooms: 4.5
Financially overextended due to the challenging
economy, in early 2009—less than
three years after paying $425,000 for a thousand-
square-foot, 72-year-old bungalow, and
then investing several hundred thousand
dollars more on renovations plus adding on
another 3,500 square feet of finished living
space and a 1,500-square-foot unfinished
basement—a local couple found a creative way
to unload their home in a tough market: set
up a website and sell 27,000 raffle tickets at
$50 each, which would raise enough money to
pay off their loans and also make a substantial
donation to an Annapolis-based charity.
Appraised at $1.2 million, “The Fifty
Dollar House” got the attention of folks from
across the country and raffle tickets sold like
hotcakes. A Colorado woman who had
purchased two tickets was the lucky winner.
(Maybe we should call it “The Hundred Dollar
House.”) Rather than keep the house, she
hired The Moss Haedrich Team from Keller
Williams Select Realtors in Annapolis to sell it.
Facing stiff competition and a market that had
grown even tougher, the parties agreed on an
initial list price of $799,900. By the time a
contract was entered into six-and-a-half
months later, the price had been lowered
twice—first to $675,000 and then to $655,000.
Bev Moss Haedrich explains that the final
sales price was in line with recently sold, comparable
nearby homes, and that circumstances
such as the number of showings and days on
the market were typical. “The biggest hurdle
was that the home sits very close to Route 2,
but a fence and selective plantings would
greatly reduce the traffic noise,” she adds.
“Noise isn’t an issue inside because the walls
are 11 inches thick.” As it turns out, the highly
visible location was perfect for the buyer—a
local church.
Haedrich describes the house as having
“real style and modern appeal—contemporary
Cape Cod meets historic charm.”
Potential buyers especially liked the wraparound
porch, open floor plan, high-end
kitchen, number of bedrooms, spacious au
pair/in-law apartment that occupies a separate
wing, and two-acre lot.
Source (listing agent): Bev Moss Haedrich,
Realtor®, GRI, The Moss Haedrich Team, Keller
Williams Select Realtors (Annapolis), 410-353-
2469, 410-972-4047, or bevmoss@kw.com.
Magothy Beach, Severna Park
Primary Structure Built: 1983
Sold for: $924,900
Original List Price: $1.19 million
Bedrooms: 5 Bathrooms: 4
Boasting
a commanding
view and
60 feet of
shoreline—
with a sandy beach, cabana/bathhouse, multiple-
slip, deepwater pier with boat lift—this
waterfront home on a half acre is sheer bliss
for those who thrive on outdoor activities.
Completely refinished, the house features allbrick
construction, a split-foyer floor plan, and
over 3,000 square feet of living space, including
an au pair/in-law suite and huge walkout
basement that’s been converted into a club
room. Dividing the kitchen and family room is
a massive, two-sided brick fireplace. Other
highlights include an enclosed waterside
porch, attached garage, intercom system, and
fantastic landscaping. The property was purchased
in 1993 for $230,000.
Source (listing agent): Fletcher C. Bauman,
Residential & Commercial Real Estate Investment,
Champion Realty, Inc. (Annapolis), 410-263-
2000, 410-224-0653, or fcbauman@comcast.net.
Kingsport, Annapolis
Primary Structure Built: 2005
Sold for: $515,000 Original List Price: $569,000
Bedrooms: 5 Bathrooms: 4.5
The buyer of this 3,500+-square-foot, brick-front colonial paid 33 percent less than it cost
the original owner in 2005, and received a $15,000 seller subsidy on top of that. All three levels,
including the finished basement that features a media center, were recently repainted.
Fletcher Bauman had the listing and says the house showed well: “clean as a whistle with
gleaming hardwood floors, high ceilings, stainless-steel appliances, granite countertops, and a
terrific floor plan.” Premium landscaping and rock gardens nicely accent the rear patio and
fence-enclosed backyard. Amenities of this newer development include a bike trail, putting
green, water access, and a community center with outdoor pool.
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