10304 Summit Avenue, Kensington 20895

A Kensington Maryland Luxury Home in This An Updated Classic

This stunning four-story colonial style home in Kensington boasts three lots, culminating into an impressive 24,185 square feet of space.  Surrounded by plush greenery, trees, this striking home built in 1900, provides all modern conveniences without sacrificing period charm. One look at the large wrap-around porch with shutters and decorated windows will immediately point to the meticulous attention to period detail.  Backed by its approximate .6 acres of land, this home lets out to a private outdoor deck and has a shared driveway.

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10304 Summit Avenue, Kensington Maryland (20895) in Depth…

With four bedrooms and two bathrooms, the warm 1900 charmer boasts updates galore – a bumped up attic-turned home office, large kitchen turned “chefs haven” (literally!) with a unique 6 range stove are just a couple of the modern amenities. Beyond that – you’re easily met with a large living room and a very spacious, separate dining room (each ordained with hardwood floors!) and ample closet and storage space.

A Close-in Greater Bethesda Location

Located on Summit Avenue, an area home to a historic town comprised of single- family homes, not too far from commercial areas from Historic Kensington, to Downtown Bethesda. It’s right

off the beltway and a short distance to the MARC train – a commuter haven!  Visit us at our sister www.KoitzGroup.com, for more pictures and virtual tour…

Maryland MLS Property Description:

Impressive Colonial, part of which dates back to 1900, with charming wrap around porch. Property consists of 3 lots, total lot size 24185 sq. ft. Updated kitchen, HUGE living room and dining room..lots of light, 4BRs up..attic bumped up and converted to great home office. Flagstone patio & beautiful landscaping.

The 5 Most Expensive Homes currently in Kensington Maryland (just for fun!)

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Jameson Bethesda Modern Luxury Home Back On

Bethesda Modern Home Update (as we  know there are only  a few)…

I  just noticed a familiar and attractive Modern Home going though the MLS .  It’s only been a couple years since it first sold, but all the better for the rare Bethesda modern home buyers / seekers.  This 4 bedroom 3.5 bath David Jameson Modern made the most out of the modest corner lot – boasting a pool and center courtyard.  I remember the courtyard but I’d have to go back and check records as I don’t remember it originally having a pool.  Even more hardscape + Jameson + Bethesda = exciting…however

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….I’d encourage you those seeking Downtown Bethesda (Edgemoor) and Modern Modern luxury living to take a look at 5104  Hampden…

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The Residences at The Ritz Condos, The W, & More Micro Markets

The W Residences Not In Bethesda

This is another recycled post but since we’ve been diving into micro-markets lately, and it came to mind today I wanted to share the concept on at a luxury level. I was speaking with a friend last night, Incredibly smart guy who just purchased a condo in DC. And having supreme intelligence, he chose to work with me 🙂 We spoke at length about the micro-market during the process, and now, a month removed, we revisited the topic.

“Just Econ 101”, he told me…and that’s precisely the point…

From November 14th, 2009

The Rise of The Hotel Residence in DC & Greater Bethesda

Well not in reality…yet. And yes, with so many Greater Bethesda condos in the pipeline, do we need…can we absorb another? — that always always depends on timing and location. A boutique hotel with a few residential condo units would be a perfect match for Downtown Bethesda. Whatever, whenever is the W’s slogan right? Well now we have the “wherever”…..so whenever you’re ready!

Washington DC isn’t “W Hotel free” — situated at 515 15th Street NW, President Obama could take a few minute stroll to Washington DC’s W. But I’m talking about W Hotel and Residences.

My argument (and I’m right!):  Every area has slightly different housing needs — and if there’s one type of property the Greater Bethesda area is begging for, it’s the 2000 sq. ft.+ luxury condo. In this particular case, I picture a Boutique W, with approximately 40 hotels rooms and 30 residences…all 2000-5000+ square foot units (the residences, that is). The upscale Hotel / Residence is the opitome of the “lock and leave” convenience, with the “resort style” living many are asking for.

Just Look At Residences at The Ritz in Georgetown

The only other comparable Hotel/Residence in the DC Metro area is The Georgetown, DC Residences at Ritz Carlton …and what did we learn from those 28 units?….

When you actually build products that the public is demanding (think baby boomers with money), they sell…regardless of the market. This past March wasn’t a wonderful time for Washinton DC real estate –!but that didn’t stop one of the Penthouse units at the Georgetown Ritz to sell for over $7M…a record for a DC condo.

I know the prices and condo fees that would come with a Residence/Hotel would stretch most Washingtonian’s pocket book. But if you built it in Downtown Bethesda (and many areas in DC, Northern Virginia…) they would most certainly come…

I look at this in retrospect, and now, with developers still pushing  “the density model”.  That is, a “just stuff as many 1 bedrooms as you can into a square box mentality”, I just want to know who’s actually doing some research?

Greater Bethesda / DC Developers — Just Ask Yourselves, “where’s the demand”?…You Figure That Out, and You’ll Sell in ANY Market

I respectfully ask Polinger Development (not picking on you guys, you just happen to be doing a lot of the immediate work in Downtown Bethesda), to give me 10 minutes. Better yet, let me design your next development — I’m not an architects but I’m great with a Pen and a napkin.   You all seem h#ll heck bent on making the same mind numbing mistakes over…and over again.

  • Get your eyes away from that very narrow lens
  • Do some market research…
  • Call me if you’d like (seriously) – 301-254-6576.

I hope you’d learn that it’s not if you build it, they will come” rather if you build what they want, they will come.”

Thoughts?

A Bethesda Condo & Locations Within Locations

Bethesda Condos:  Location, Location, Location WITHIN a Location

I remember when “location within a location” became relevant again. I can even remember the first time I said it.  I was showing several high end Bethesda condos in the same development a over 4  years ago. It was mid 2006, a year removed from the madness of 2nd quarter 2005 (some of you remember that time; when you had to write a contingent free offer, escalate tens of thousands of dollars above asking price, and give away your first born child for a chance at getting that home :- ).

Downtown Bethesda
Just a pic of Downtown Bethesda

So, back to showing the condos: brand new, well laid out, and nice finishes…..all around one of the better developments in the Bethesda area. But the market had slowed a bit, my client knew it (I made sure he did!), and the developer knew it too. So when it was time to decide on two very similar units on different tiers of the building at relatively comparable price-points, my client turned to me and asked:

“Which one do you think?”.

Because it wasn’t an investment property or anything my client was planning on moving out of for the foreseeable future, I suggested he choose the one that felt most like home.

“But which one has more value?”, he insisted.

It was by no means a roll your eyes kind of question. I told him if he was happy with both, he should buy the top floor unit with the western exposure. It was $30K more than a similar unit facing east towards a busy road.  The question of “value” became synonymous with “marketability” and that’s where we discussed the concept of the Bethesda Condo Micro Markets. That is, we were past the point where the market demanded a “take what you can get mentality”. On the contrary, in this new real estate environment, there was a time to analyze values on much smaller scales. It wasn’t just the price per square foot, instead it was a combination of a lot of small things…not the least of which was the location within the building that would make for a more sale-able unit in the future.

There are many downtown Bethesda condo units but very few with un-obstructed, western exposures. There are many other examples of micro-markets and most have to do with demographics, supply, and demand… just a little Econ 101. For example, there’s a crying need in Bethesda for larger condo units or homes designed with one-story living in mind.

Four Seasons Residences Kona
Four Seasons Kona – Niche Luxury Condos in Washington DC

The picture to the left is from The Residences at The Four Seasons (Kona…not Washington DC!).  But looking at this picture reminded me of my client — and reminded me to kindly remind everyone that even in a market of “bargains”, it’s important to continue to analyze the micro-market. It’s not just the building, it’s not just the street and it’s certainly not just the price…instead, it’s combination of all the little pieces that make up value in our daily lives….like a sunset!

**Oh, in case you were wondering, my client ended up going with the unit with the Western exposures.

3 Most Expensive Homes in Bethesda

Back by popular demand, top Greater Bethesda property lists. This week, just a quick glance at the top 3 most expensive homes for sale in Bethesda. Please note, that GreaterBethesdaOnline has no integrated property search…yet 🙂 What this means? Basically, the list below will link to our “big brother” full featured website, KoitzGroup.com. So for those of you who read this post later down the line before it archives, just a kind reminder in advance that these are the 3 most expensive Bethesda homes on the market as of date of this post. And again, this post will take you to another website. Rest assured it’s ours and has a lot fun bells and whistles.

5104 Hampden Lane in Edgemoor (Bethesda)
5104 Hampden Lane didn’t make the list but it’s a great picture!

The Bethesda Top 3 Luxury’ist Homes For Sale

7109 Armat Drive, Bethesda 20817

  • Subdivision: Burning Tree
  • Zip Code: 20817 Parking:
  • Claim to fame: “Country club like grounds, pool, fountain & cabana” in one of the most coveted neighborhoods in Bethesda.

Listing Provided By Long & Foster Real Estate, Inc.

24 Wissioming Court, Bethesda

  • Subdivision: Glen Echo Heights
  • Zip Code: 20816
  • An Extraordinary David Gurney modern with Potomac River views..

Listing Provided By TTR Sotheby’s International Realty

8910 Fernwood Road, Bethesda

  • Subdivision: Bradley Hills Grove
  • Zip Code: 20817
  • Claim to fame: Confession and some “prideful” promotion 🙂 — this one is actually the 5th most expensive but it was too note-worthy to take off such a special list. And it also shows the kind of end product that could be built on a luxury lot we have listed right down the street!

Listing Provided By Long & Foster Real Estate, Inc.

Hope that was relatively enjoyable…now a little bit of language to make sure I’ve covered all bases…have great weeks!

The listing content relating to real estate for sale on this web site is courtesy of MRIS. Listing information comes from various brokers who participate in the MRIS IDX. Properties listed with brokerage firms other than Long & Foster Real Estate Inc. are marked with the MRIS Logo and detailed information about them includes the name of the listing brokers. The properties displayed may not be all the properties available. All information provided is deemed reliable but is not guaranteed and should be independently verified. All listing information copyright MRIS 2010. Last updated: 2010-12-26 01:57:36