Edgewater, MD

That's Right! And You Could Do a Heck of a Lot Worse Than Pay $799,900 for a Home That Appraised in November for $1.2 Mil

Unless you've been living in a cave somewhere in the Annapolis area, you know all about the now famous Fifty Dollar House. It was raffled off in January to one lucky winner - Karen McHale of Idaho Springs, Colorado - whom you met here shortly after she heard the exciting news.

With a touch of regret - she says it would have been delightful to own a second home near the Chesapeake, but her retirement plans will take she and her husband west, not east - Mrs. McHale has decided to sell the property. And she's hired us - The Moss Haedrich Team - to help her do just that.

We'll be bringing you regular updates about the home - 1 Poplar Point Road in Edgewater. For the moment, suffice to say that it's a beautiful 6 bedroom, 4 1/2 bath home with real style (contemporary Cape Cod meets historic charm; part of the original structure dates back to the 1800's!) and modern appeal.

One outstanding feature is a separate wing - with full kitchen, bedroom and office/study area - that would do beautifully as an in-law, guest or au pair suite. The main gathering area of the home is open living/kitchen space, with fabulous hardwood floors, granite and stainless steel appliances - just stunning.

If you'd like a peek, you can see some photos of 1 Poplar Point Rd. If you'd like to see the MLS listing, just email me at kenhaedrich@gmail.com and I'll be happy to send it along.

Stay tuned for more about this lovely property. Meanwhile, if you'd like to arrange for a private preview, email me or call Bev at 410-353-2469.

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A Recap of the Most Recent Real Estate Market Activity at this Popular Community of 122 Luxury Townhomes

The response to last week's post here about sales activity at the estate homes in South River Colony only validated what we already knew: that South River Colony is never far off the radar screens of homebuyers on the search for a lovely, amenity-rich community near Annapolis.

I thought I'd follow up with a synopsis of the real estate market at The Pointe, one of South River Colony's ten neighborhood clusters. The community sits just off Route 214 and borders over 100 acres of South River Colony woods and wetlands.

Construction on these luxury townhomes was completed in 2006. They average around 3,000+ square feet on 3 levels. Over the years we've been in quite a few of these units and they are - on the whole - beautifully constructed with attractive architectural detail and high end finishes in the kitchens and bathrooms.

How The Current Market for South River Colony Stacks Up on the MLS

Currently there are 6 active listings in The Pointe, priced on the high end at $525,000 to $439,950 on the low end. Five of them have been on the market for 32 days or less. The other - priced at $515,000, has been listed for 114 days.

There have been 2 sales in the last 90 days including an end unit that was originally priced at $568,900 and sold for $528,000 in mid-November.

More recently, in mid-December, a townhome with a list price of $500,000 sold for $476,000. This one was on the market for 28 days; the former for 188 days.

The MLS does not show any townhomes that are currently under contract.

While sales at The Pointe compete directly with newer townhome developments such as The Vineyards of Annapolis (off Riva Road) and, to a lesser extent, Admiral's View (just off Rt 2), neither of those communities can offer the great amenity package South River Colony can.

Given fair market pricing, we see no reason these townhomes shouldn't continue to be an attractive buy for anyone who is looking for a newer luxury townhome package in the Annapolis area. We'd be happy to show you any of the active listings, if you're interested.

Here's How to Get Your South River Colony Hot Lists

If you are a buyer or homeowner who is keeping an eye on the market in South River Colony, email your name to me at KenHaedrich@gmail.com for a hot list of the latest market activity.

Specify whether your interest is The Pointe or the estate homes, and we'll send you a detailed, up to the minute market report...and updates as they occur.

If you are a seller who has a South River Colony home to sell - or any other home to sell, for that matter - email or call me at 410-507-7222 and I'll be happy to sit down with you and show you how we use our extensive marketing toolbox to get our clients' homes sold.

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A Search of the MLS Shows That Sales are a Little Slow in this Popular Subdivision Near Annapolis...and a Great Opportunity for Home Buyers

Speaking of Edgewater - home of The Fifty Dollar Home mentioned in the previous blog post - I just checked the MLS to get the latest activity on home sales in South River Colony.

Things aren't exactly going like gangbusters. I'm referring to the larger estate homes now...where there are 14 active listings, 2 homes under contract, and only one home sold in the last 120 days.

To be sure, this is not the end of the market where homes are flying off the shelf. The lowest priced home is one at $650,000 - a real steal for this neighborhood - with the highest priced home coming in at $1,950,000.

The average Days on Market for the active listings is 147. Five of the homes have been on the market for more than 200 days. On quite a few of the homes, the prices haven't budged, even after many days on the market. Makes you wonder just how badly these sellers want to sell. (With lovely golf course views like this from many of the homes, you can't blame them for having mixed feelings about moving.)

If you're a buyer keeping an eye on South River Colony, sign up for our South River Colony Hot List. Email me at kenhaedrich@gmail.com with your name and email address and I'll send you a detailed report with the latest sales activity, along with instant updates on any new activity.

If you're a seller who would like to sell your South River Colony home, email or call me at 410-507-7222 and I'll show you how we can sell your home and you can avoid become one of those listings that just linger on the market.

Thanks for logging on to AnnapolisHomeDigest, brought to you by The Moss Haedrich Team of Keller Williams, Annapolis. Stop by again soon, or subscribe by filling in your email address in the form on the upper left.

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We've all driven by it dozens of times along Route 2, vowing that we'd plunk down $50 for a raffle ticket...and maybe, just maybe get lucky.

But a Colorado woman who never did drive by - indeed, who has never even visited the Annapolis area - turned out to be the lucky winner of the 6 bedroom, 4 1/2 bath, 6,000+ square foot home known locally as the Fifty Dollar House.

Karen McHale, a chemical engineer from Idaho Springs, Colorado, claims she's never won a thing in her life. But when she heard about the raffle on the news and learned that ticket sales would help support a good cause - We Care and Friends - she said, "Why not? Even if I don't win, I'll be helping out."

Married and a mother of two, McHale promptly put the raffle out of her head. Then out of the blue she received a phone call this past Friday afternoon from Tom Walters, the home's owner, informing her that she held the winning ticket. "At first I thought it was a joke! I was excited, and a little in shock. Then I wondered - what am I going to do with it?"

Her friends tell her she should keep it - "so they have a vacation home!" But she may decide to sell the home.

If so, chances are she'll use some of her windfall to help fund a self-publishing venture she's launched.

A volunteer firefighter, McHale has created a team of fictional characters she calls Fire Station Buddies - Flash, Scout, Tundra and others - as a way to teach children about safety, science, engineering and problem solving.

The first in a series of Fire Buddies books - The Legend - is already on sale. A portion of her book earnings will go into a fund McHale has started to help support volunteer fire departments across the country.

We hope you sell a million!

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