What's Up? With Real Estate
Jan 13, 2014 12:12PM ● Published by Cate Reynolds
The realty world is full of difficult-to-decipher jargon, but there’s one term buyers love to hear: “turnkey.” Designating a home ready for immediate use, turnkey properties require little-to-no work. Locals concur it’s a hidden benefit of living in the area—we happen to attract a fairly transient population, and since these homeowners must be ready to move on a moment’s notice, they keep their households perfectly prepared to sell. And though no one is eager to take on the task of relocating, this month’s column profiles homes that are move-in ready wonders.
Primary Structure Built: 1996
Sold For: $1,075,000
Original List Price: $1,200,000
Last Sold/Price: 2008/$1,300,000
Living Space: 4,860 square feet
Lot Size: .15 acre
A pristine interior, backyard pool oasis, and ideal Eastport setting make this 17-year-old contemporary a perfect turnkey residence. And selling for $225,000 less than it sold five years ago made it a bargain, as well. After listing and delisting over the past two years with various price adjustments, the residence sold within a month of switching to a new agent and dropping to a $1,100,000 asking price.
Eastport, with its mix of traditional, bungalow, and contemporary architectures, is a quaint and eclectic town hugging the water. (Let’s not forget, this is the same quirky town that “seceded” from Annapolis in 1998 and celebrates it with an annual charity-driven Tug of War festival.) The area, in fact, is much envied for its walkability and easy access to restaurants, marinas, kayaking, and even water taxis to nearby hotspots.
Deceptively simple from the outside entrance, the neutral-toned siding and shingle residence camouflages a generous 4,800-plus square feet of living space. The home had been a weekend retreat for an out-of-town couple who enjoyed entertaining. To meet those needs, they converted an upstairs family room into a second master suite; added a Pebble Tec pool with waterfalls, privacy fence and refi ned landscaping; and installed Ipe decking, an exotic hardwood naturally resistant to decay without preservatives.
The interior’s open floor plan seamlessly integrates the kitchen, dining room, foyer, and great room. Distinctive elements are peppered throughout, from a stone surround fireplace to built-in bookshelves, vaulted ceilings to walk-out decks from the upper floors. Renovated in 2011 with high-end appliances, radiant floor heat, and other popular finishes, the buyers had little to do, and only re-converted the second master into a family room.
Sources: Charlie Buckley (listing agent), Mr. Waterfront Team, Long & Foster, office: 410-266-6880, firstname.lastname@example.org, Waterfronthomes.org. Brad Kappel (buyer’s agent), Mr. Waterfront Team, Long & Foster, cell: 410-212-5087, email@example.com.