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What's Up Magazine

Real Estate in Talbot and Queen Anne's Counties

Oct 20, 2011 09:21PM ● By Anonymous

Claylands Road, Trappe in Talbot County - This modified waterfront rambler was completely renovated in recent years. It sold in May 2011 after three years of navigating this roller coaster market. The previous owner took full advantage of the magnificent water views when planning the renovations and that is what eventually tipped the scales for the new owners.

The planning was implemented masterfully and the large and unobstructed views are a delightful surprise when entering the door and from almost every interior vantage point of this waterfront estate home.

The two-story addition along with the strategically placed staircase, skylights and nine foot ceilings add interesting architectural detail to the interior this home. The main floor of the residence includes a master suite and luxurious master bath with whirlpool soaking tub, separate shower, and walk-in closet, hardwood floors, granite counters, and many custom built-ins are some of the desirable features of the main residence. The crowning jewel is the river room, along the front of the house, which affords almost all of the living areas breath taking views of Island Creek and Chamberlain Cove, in addition to its much coveted south western exposure. The property is further enhanced by a two bedroom guest cottage, a private pier with four-plus feet at mean low water, and lush landscaping.

The park-like setting of this Island Creek home holds special appeal for the new owners. Their home is situated on an eight-plus acre outer point of land that offers 400 feet of waterfront with views on three sides. The manicured lawn and landscaping have a natural back drop of forestry acreage that gives this property a feel of quiet seclusion and natural beauty. The discriminating new owners were looking for the “right fit” in a property and they finally found it. They had toured enough properties to know that the tranquil waters of Island Creek were what they wanted to border, and the quaint town of Trappe was a perfect backdrop. Agent Henry Hale showed them dozens of properties before helping them negotiate the purchase of their new estate home, and the new owners are grateful he stayed with them until the end.

This property was initially listed in May 2008 for $2,100,000 and subsequently was reduced twice. It sold in May 2011 for $1,450,000. The original home was built in 1962 and the property’s 2011 tax assessed value is $1,692,450.

Contibutions from: Henry Hale, sellers agent and Realtor with Benson & Mangold, LLC , and Chuck Mangold, Jr. Realtor and listing agent, also with Benson & Mangold, LLC,, and the gracious new owners.

Wallman Way, Bay City in Queen Anne’s County

Expansive views of Broad Creek and the Chesapeake Bay are only some of the features of this custom built colonial in Bay City. This home is located minutes from Route 50, Kent Narrows, and Annapolis and boasts about 4400 square feet of upscale living space. Built by the discriminating first owners, the fortunate new owners have a “superior home on a great piece of property,” according to listing agent Scott Smolen, who also sights the spring market with great weather, prevailing low interest rates, and exceptional craftsmanship as catalysts for the sale of this property.

The home offers large windows, French doors and multiple decks on the waterside. The main floor includes a gourmet kitchen with Granite countertops, formal dining room with chair rail and crown moldings, a family room with great views and a library/office. The next level features an exceptional master suite and bath with 2 additional bedrooms, full bath, laundry room, and great storage space.

More? Yes! In the basement level there’s an in-law suite with two well-portioned bedrooms, a full bath, an additional kitchen, and family room with fireplace. The exterior of this well built waterfront home is further enhanced by a two car garage with work area, a storage shed, a grand front porch with attractive plantation shutters, a private pier with two-plus feet of water depth, and exceptional large water views. All of this is situated on a manageable half acre lot.

This home was originally offered for sale in 2009 for $949,999. In 2010 the price was adjusted twice, down to $750,000. Early 2011 the home came back active and price was further reduced to $725,000 which stirred up a lot of interest and resulted in a timely contract and May settlement for $700,000. This home was built in 2002 and its 2011 tax assessed value, according to Queen Anne’s County records, is $765,250.

Contributions from listing agent Scott Smolen of RE/MAX Leading Edge, inc.,

Ann’s Insights

The State of Maryland conducted a ratio study of home sales for the period from July 1, 2009 through June 30, 2010. This study compared tax assessed values of homes to their actual sale amounts. The results showed that sale prices, in most Maryland counties, were within 10 percent of assessed values.

This is historic and an anomaly. Assessed values were almost never considered good representatives of market values for home sales, and in most cases much lower than sale prices. This doesn’t seem to be the case in today’s market and may only be an oddity that will pass with the waves of recession we are floating in.

For the present, serious sellers need to take their current property tax assessments into consideration, along with local market statistics, when pricing their homes for sale. Failing to take all of the market data into consideration may result in their homes lingering on the market and lots of frustration for themselves and their agents.