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Housing Market on the Rise?

Oct 23, 2011 05:42PM ● Published by Anonymous

The local housing market is performing steadily and soon may see an uptick, area experts tell what’s up? with real estate. Market indicators such as home showings, walk-in traffic, realtor website visits, and calls are all on the rise, and, in many instances have doubled in the past six weeks. While only time will tell, these typically are predictors for increased sales in the third and fourth quarters of the year.


Chapel Grove, Odenton
Primary Structure Built: 2006
Sold for: $671,500
Original List Price: $700,000, reduced to $685,000
Last Sold/Price: 2006/$878,651
Bedrooms: 6 Bathrooms: 4.5
Living Space: 6,337 square feet (3,935 above grade, 2,402 below)
Lot Size: .20 acre

Not every buyer is from far afield. On the market for only 42 days, this colonial was snapped up by local homeowners who’d had their eye on the neighborhood and were looking to upgrade. A slight adjustment from the original asking price prompted quick action, illustrating that the market is self-correcting from past prices, and now is an ideal time to get considerable value in a home purchase.

Its outstanding selling points included a user-friendly layout complete with front and back staircases, along with beautiful views out the back (to a wooded conservation area) and front (facing a neatly kept and open, undeveloped area). A meticulous interior, wellgroomed lot on a quiet cul-desac, and a homeowner’s association with pool and tot lot enhanced the package. But the home’s true tipping point was its impressive finished basement, replete with spacious media room, wet bar, two extra bedrooms, ample area for a pool table, and two separate walkouts, with access to a resplendent wrap-around deck and paver patio.

Sources: Scott Smolen (listing agent), Realtor, RE/MAX Leading
Edge, 301-651-1261, sbsmolen@gmail.com. Ted Durig (selling agent),
Realtor, PSC, Keller Williams Flagship, 410-903-4452,
ted@durigrealty.com or www.durigrealty.com.

Rhode Point, Edgewater
Primary Structure Built: 2005
Sold for: $1,400,000 Original List Price: $1,590,000
Last Sold/Price: custom built in 2005, land was $359,000
Bedrooms: 4 Bathrooms: 3.5
Living Space: 4,600 square feet Lot Size: .72 acre

With proximity to the area’s newest shopping center, easy access to Route 214/the D.C. Beltway, and an array of waterfront properties without the heftier price tags of city or Severn River zip codes, Edgewater looks to be the next up-and-coming neighborhood. In fact, waterfront sales in the area have increased 29 percent in the first six months of 2011 compared to the same period last year, according to data from the Metropolitan Regional Information System.

Equipped with a private, deep-water pier, this Edgewater residence neatly proves the point. Clean lines, understated elegance, and a soft neutral palette draw the eye to spectacular water views from nearly every room in this tranquil retreat. As if stunning sunset views weren’t enough, the home is finished with equally dramatic details, including a main-level master suite and sleek, luxurious bath, an indoor endless pool on the lower level, unique staircases inside and out, curved built-ins, radiant heat in the walkout lower level, generator, as well as a private beach with a kayak launch. Its only drawback might be that top-level home office with its own set of great views…who’ll get any work done staring out those windows?

Sources: Charlie Buckley, (listing agent), Associate Broker, Long &
Foster Annapolis, 410-266-6880, charlie@waterfronthomes.org. Judith
Neighoff (selling agent), Long & Foster Eastport, 410-353-3545,
410-260-2800, judithneighoff@mris.com.

For information on submitting your recent home sales, e-mail realestate@whatsupmag.com.

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