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What's Up Magazine

What’s Up? With Real Estate May 2015

May 05, 2015 11:19AM ● Published by Cate Reynolds

By Lurdes Abruscato and C.B. Scott

A home is certainly more than just a number, but for tracking neighborhood and building values, realty experts agree it’s often worth noting the price of a structure’s square footage. For example, the average price per square foot of a home in Oregon is $85; in Hawaii, it’s $420, according to online real estate database company Zillow. Typically, the smaller the home, the higher the cost per square foot, but factors like water location, metropolitan proximity, and other conveniences also weigh into the calculations. Though the average home cost per square foot in Maryland is $165, this month’s What’s Up? with Real Estate profiles four area homes and the features they offer that make their square footage so much more valuable.

TURKEY POINT

Primary Structure Built:        1960
Sold For:                                 $1,250,000
Original List Price:                 $1,500,000
Last Sold/Price:                     2011/$940,000
Bedrooms:                             5
Bathrooms:                            5
Living Space:                         3,781 square feet
Lot Size:                                 .92 acre

Homes from the 1960s aren’t necessarily associated with high square footage pricing, but this custom contemporary immediately shows its per foot value with its unique features, renovated spaces and retreat-like setting. The Edgewater abode sold after just six months on the market and at a tidy increase of $310,000 from its sale price three years earlier.

Sitting on the archipelago of Turkey Point, the property is perfectly situated for outdoor living, with 150 feet of private beach on the South River and 4-plus feet MLW access for boating. Its double wide pier includes an electric boat lift and even a covered tiki bar (a grandfathered feature rare for this area). An in-ground pool is set off by sandstone pavers and is accented with blue crab mosaic tiling. Multiple decks, balconies, and even a lookout tower surround the home for optimal water vantage points.

Allowing the focus to remain on the outdoors, the interior adheres to a clean, simple design esthetic, with a heavy reliance on light and natural materials such as river stone, sand-toned wood, and un-paned Pella windows, doors, and glass balconies. An open floor plan further mimics the outdoor setting and high-end features can be spotted throughout, including two main-level master bedrooms, elevators, gourmet kitchen, and three fireplaces.

The buyers tout the home’s amazing views from all sides and high-quality construction as top selling points. First viewing the home back in February on the coldest day of the year, the couple—an architect and senior commercial designer—were amazed they couldn’t hear the howling winds indoors like they’d heard throughout the day at various other properties. Along with water access, the pool and a friendly community, the home offers everything they need for their family and they anticipate making no changes to the residence.

Homes from the 1960s aren’t necessarily associated with high square footage pricing, but this custom contemporary immediately shows its per foot value with its unique features, renovated spaces and retreat-like setting. The Edgewater abode sold after just six months on the market and at a tidy increase of $310,000 from its sale price three years earlier.

Sitting on the archipelago of Turkey Point, the property is perfectly situated for outdoor living, with 150 feet of private beach on the South River and 4-plus feet MLW access for boating. Its double wide pier includes an electric boat lift and even a covered tiki bar (a grandfathered feature rare for this area). An in-ground pool is set off by sandstone pavers and is accented with blue crab mosaic tiling. Multiple decks, balconies, and even a lookout tower surround the home for optimal water vantage points.
Allowing the focus to remain on the outdoors, the interior adheres to a clean, simple design esthetic, with a heavy reliance on light and natural materials such as river stone, sand-toned wood, and un-paned Pella windows, doors, and glass balconies. An open floor plan further mimics the outdoor setting and high-end features can be spotted throughout, including two main-level master bedrooms, elevators, gourmet kitchen, and three fireplaces.

The buyers tout the home’s amazing views from all sides and high-quality construction as top selling points. First viewing the home back in February on the coldest day of the year, the couple—an architect and senior commercial designer—were amazed they couldn’t hear the howling winds indoors like they’d heard throughout the day at various other properties. Along with water access, the pool and a friendly community, the home offers everything they need for their family and they anticipate making no changes to the residence.

Sources: Beth Costello (listing agent), RE/MAX HomeTown Realty, office 410-544-8800, cell 410-703-0158, Beth@PropertyPrincess.com, www.PropertyPrincess.com. Julann Donnelly (buyer’s agent), Coldwell Banker Residential Brokerage, office 410-224-2200, cell 410-570-9357, Julann.Donnelly@gmail.com. Photo Credit: Matchbook Productions, 443-630-4124.

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EASTPORT

Primary Structure Built:           1988
Sold For:                                    $1,300,000
Original List Price:                    $1,390,000
Last Sold/Price:                        1992/not available
Bedrooms:                                5
Bathrooms:                               3.5
Living Space:                            3,682 square feet
Lot Size:                                    .27 acre

The Eastport peninsula, a lively and charming area close to downtown Annapolis, shopping, dining, and water activities, is a hotbed of properties with high per square foot pricing. A classic example is this 26-year-old colonial, located in the middle of Eastport but set back from the street and situated on its lot so as to offer maximum privacy. So appealing is the area and the home’s features that the residence went under contract within 20 days of listing and only $90,000 under full asking price.

With its quiet gray siding and wood garage doors, the dwelling is seemingly unexceptional upon first glance, but conceals a large, fenced-in backyard with an in-ground pool, cabanas, decking and landscaping. An upper level deck on the home provides winter water views of the Severn River.
The interior is equally surprising with rustic, old-world detailing combined with roomy, open spaces. The family room, anchored with a substantial, brick, wood-burning fireplace, includes vaulted ceilings, wood-trimmed skylights, and an opulent chandelier. The nearby kitchen adheres to the same style, with dark, rich cabinetry and oak flooring combined with modern stainless steel appliances, granite, an island and separate breakfast nook. The large master bedroom, also bedecked with oak flooring, includes a sitting area, wet bar, and en suite bath, while an upper level nanny suite or studio encompasses a living area, kitchenette, bedroom, and bath. Capping the home’s charming, European vibe is a lower level, custom-built wine cellar surrounded by Georgia yellow pine, replete with a tasting room and bar with Belgian taps and kegs.

The buyers, relocating to this area after 10-plus corporate moves, were thrilled to finally get to pick where they wanted to live. Initially vetting the property online, they felt it met their sailing and walkability criteria, and wrote up an offer as soon as they came to town. They anticipate no remodeling and simply plan to expand one room for a woodworking shop.

Sources: Anne Harrington (listing agent), Coldwell Banker Residential Brokerage, office 410-263-8686, cell 410-340-9961, anne.harrington@cbmove.com. Karen Britton (buyer’s agent), Curtis Real Estate Co., office 410-268-8696, cell 843-384-2214, karenbritton01@gmail.com.

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DUCK COVE

Primary Structure Built:         1949
Sold For:                                  $1,735,000
Original List Price:                  $2,195,000
Last Sold/Price:                      1998/$451,800
Bedrooms:                              4
Bathrooms:                             4 full/2 half
Living Space:                          5,289 square feet
Lot Size:                                  3.52 acres

At 66-years-old, this magnificent home combines the best of timeless style with modern luxuries. Situated on Duck Cove on the Tred Avon, the private 3.52-acre property was purchased in 1998 for $451,800. While the spectacular view of the cove was ageless, the home itself was ready for an update. The result was a warm, welcome home with the perfect blend of original and modern style.

The waterfront home sports abundant floor-to-ceiling windows and French doors on the main floor to enjoy the beauty of Duck Cove. Original elements including built-in bookcases, brick accents, matching hardwood floors and trim, and glossy wood paneling in the family room keep with the home’s original character, and blend with modern lighting and crown molding.
The combined kitchen and dining area share the tranquil views of the cove, as well. The open kitchen is the centerpiece of the main floor, mixing the old with the new with a stunning copper hood for the six-burner gas range and the original brick fireplace. Built-in double ovens and a warming drawer, custom cabinets, ample ceramic tile and Corian countertops, and modern recessed and track lighting complete the update.

French doors in the master suite lead to a private patio. The revamped master bath includes a tile floor, double vanities, a glass shower, and a whirlpool tub.

Outside, the property blends into the tranquility of the cove. The extensive professional landscaping and hardscaping includes an oval gunite pool, stone walkways, and wide brick patios original to the home. In addition, the sellers added a boathouse to the property, as well a private pier, and a two-bedroom, two-bath guesthouse.

The house sold in January 2015 for $1,735,000 after 158 days on the market.

Source: Laura Carney (listing agent), Benson & Mangold, Easton, 410-819-8200, laurahcarney@gmail.com

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MILES RIVER

Primary Structure Built:           1990
Sold For:                                    $1,650,000
Original List Price:                    $1,795,000
Last Sold/Price:                        1998/$650,000
Bedrooms:                                 3
Bathrooms:                                3 full
Living Space:                             4,453 square feet
Lot Size:                                     2.23 acres

This stately 2 1/2 story brick colonial was built in 1990. It sits on 2.23 acres along the Miles River. With bedroom balconies, extensive formal landscaping, water view sunsets, private beach, and private pier, the property itself has ageless appeal.

The sellers bought the home in 1998 for $650,000. Fourteen years later, they sold it for almost three times the purchase price in October 2014. But the increased value wasn’t all time and market driven. Before the sellers put home on the market in March 2014, the house underwent major remodeling. In the kitchen, designer touches including three sinks and a granite center island upgraded the workspaces. Heated travertine floors completed the remodel of the massive 16x16 master bath. The finished attic floor includes a 33x16 game room.

Outside, a tiny garden house completes formal, hedged flower, herb, and vegetable gardens. The large stone fire pit near the water’s edge provides additional space for relaxed outdoor entertaining. Finally, sailboat water depths and a pier with two boatlifts mean the new owners are a 15-minute boat ride from dinner in St. Michaels.

Sources: Kurt Petzold (listing broker), Chesapeake Bay Properties, Easton, 410-820-8008, kpetzold@goeaston.net  Jim Bent (selling agent), Benson & Mangold, Easton, 410-770-9255 ext. 318, jimbent@goeaston.net.
Today, Home+Garden real estate Eastern Shore May 2015 West County May 2015 Annapolis May 2015

 

 

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