November 18th, 2009 Categories: Foreclosures, Potomac
Inventory remains super high for the most expensive homes in Montgomery County, so I expect to see distress sales for some time in this market segment. Here’s a summary of three upper bracket homes in Potomac that I previewed this week:
11752 Lake Potomac Drive, Potomac
This home is an imposing wall of bricks. It’s big with 7,000 sq feet of living on the main two levels and about 4,000 more on the finished lower level. From the street, it’s classic, regal and impressive; but the layout and finishings inside are a bit bewildering. Except for hardwoods in the library, the entire main level has granite tile flooring which most buyers would find cold and impractical. The main level has a traditional room layout, but the upper level is maze-like – I would describe it if I could. The lower level is bright and usable.
For a bank-owned property, it’s in good shape. Still, especially with a home this size, a buyer will likely make significant investments to bring out its true potential. The previous owner paid $1,420,000 in 2004. I understand they did most of the interior work. This home went through foreclosure and is now bank-owned listed for $1,584,000 with Rosselle Realty Services.
11201 Greenbriar Preserve Lane
What’s not to love about this former NV model home? It’s big with over 7,200 square feet of living on the main levels and around 3,000 more in the basement. It’s new built in 2005, and it has all the options: premium flooring, paint, mouldings and lighting. Everything is fabulous – the upgraded kitchen, theater-sized media room, extravagant master suite and more. An outside entertainment area includes a large gazebo, maintenance-free deck and stone firepit.
Typical of a model home, it is the first home in the neighborhood and it sits on 0.77 acres. Even from the back deck, you have good privacy from Piney Meeting House Road. The current owner purchased this from NV Homes for $2,625,000 in April, 2006. It’s currently listed as a short-sale with Long and Foster priced at $1,900,000.
9417 Falls Road
I saved the best for last. This home is walking distance to Potomac Village and feature the very best of custom design and construction. This home is big with over 7,200 square feet of living space on the main two levels and 3,000 in the finished lower level. Testament to its superior design, this home doesn’t overwhelm. It’s classic, gracious and comfortable. Superior construction details like a hand-stacked stone fireplace, weighted doors, hardwood flooring on the main levels, wrought-iron stair case spindles, custom lighting and more come together to create rich, quality living spaces. The bedroom level offers perhaps the biggest surprise. All bedrooms feature huge spaces and soaring cathedral ceilings. Natural light streams through curved and oval windows. Very nice.
This home was built in 2008 and has never been occupied. It is listed with Long and Foster for 1,999,000 as a short sale.
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See all distress sales in Potomac and contact us with any questions about these or any other homes in the area.
Posted by Bruce Lemieux
This entry was posted on Wednesday, November 18th, 2009 at 10:23 am and is filed under Foreclosures, Potomac. You can follow any responses to this entry through the RSS 2.0 feed.
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