What's Up? with Eastern Shore Real Estate July 2012
Jul 17, 2012 12:15AM ● Published by Anonymous
Mill Point Farm consists of 34 acres of serene farmland and woods enjoying spectacular wide water views out the mouth of Harris Creek. This colonial gem has been lovingly cared for and improved over the years, yet retains many original features and authentic Eastern Shore charm.
The welcoming home features lovely chair and crown moldings painted in historic colors and warm wood floors covered in oriental carpets. It is an absolutely lovely backdrop for the new owner’s fine furnishings, art, and boat.
Offering more than 4000 sq. ft. of living space this large home has four bedrooms, three full baths, and one half bath. There are two lovely brick fireplaces that give warm ambiance to the cozy oil fired hot water baseboard heat. It is believed that the kitchen dates back to the mid-1800s and the most recent additions are a tile-floored sunroom and family room. Warmth and comfort encompass this fine example of early Eastern Shore luxury.
The farm is complete with waterside pool, tree-lined driveway, and pier with boat lift. There is a bulk headed “boat well” on one side of the pier that offers protected docking off the wide waters of the creek. Just a short drive to St. Michaels, this is a truly unique and lovely location and parcel of land.
Originally offered for sale in the autumn of 2010 for just under $2 million dollars, this home would have sold quickly just a year or two earlier. It, instead, languished under present market conditions. A timely and substantial price reduction late last year, along with the recent unleashing of investment and mortgage monies, resulted in multiple offers this past February. Those multiple offers came swiftly and the new owners won out with a bid just a few thousand dollars above the reduced asking price. Smart move, they could have easily lost by just a few thousand dollars.
Motivated and educated sellers are becoming increasingly realistic with their home prices, and savvy buyers and their agents are acting quickly. Current real estate opportunities are being taken advantage of, especially in the luxury water front market. I know we are all in hopes this trend will filter down through every market and price range, so all sellers can reach their investment and housing goals and everyone involved can move forward.