Home for Sale at 11807 FORUM HILL CT, POTOMAC, MD 20854

11807 Forum Hill Ct
Potomac, MD 20854

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Property Details

List Price:	$3,495,000
Beds:	7
Baths:	9
Status:	Active
SqFt:	--
Agency:	Long & Foster Real Estate

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Description/Comments

Lot Size:	2 acre(s)
Property Type:	Residential
Year Built:	2000
Notes:	EXPERIENCE CONTEMPORARY ASPEN STYLE IN THE MOST SPECTACULAR HOME IN BEAUTIFUL PALATINE OF POTOMAC!This luxurious custom residence features an open floor plan, unparalleled finishes, main level primary wing with 2 private studies, newly renovated kitchen and baths, 900 sf fitness center, pool, spa, 6 car garage, private staff quarters, the list goes on and on... With an impressive 14,000 sq. ft of living space on 2 private, professionally landscaped acres this home is truly special. An open floor plan offers a dramatic two-story great room with soaring beamed ceilings, wood burning fireplace, floor to ceiling windows, and spacious dining room overlooking manicured grounds. The renovated gourmet chef's kitchen features top-of-the-line appliances, expansive seated center island and sun-filled breakfast area. Step into the family room with wood burning fireplace and walls of windows creating an inviting atmosphere for relaxation and entertainment. One of the highlights of the home is the serene screened porch perfect for unwinding at the end of the day. The main level primary wing features a luxurious primary suite with gas fireplace, private terrace and newly renovated spa bath as well as two offices providing a peaceful work from home space and quiet retreat. Upstairs you'll find 5 additional bedroom suites, renovated baths, a lounge area and show stopping 900 sf fitness center with private terrace. An expansive lower level offers a recreation room with game area, media area, craft and bonus rooms along with 3300sf of storage space. Entertain away in the backyard pool, spa, built in grill, playground, and generous yard surrounded by professionally landscaped grounds provide a delightful oasis. A private apartment over the garage offers the perfect quarters for inlaws, guests or staff.Car enthusiasts will appreciate the 6-car garage ensuring your vehicles are housed in style. With meticulous attention to detail, this home offers a whole house generator, NEW and updated HVAC systems, updated water heaters and NEW roof. Don't miss the chance to live in unparalleled luxury combining the highest end construction and distinctive architecture with modern amenities. This home is special. Schedule your private showing today. REGISTRATION FORM REQUIRED PRIOR TO SHOWING. PLEASE CONTACT CO-LISTING AGENT FOR FORM.
MlsNumber:	MDMC2130084

Listing Provided By:	Long & Foster Real Estate, original listing
Name:	Long & Foster Real Estate
Phone:	(888) 536-0216
Office Name:	One Bethesda
Office Phone:	(888) 536-0216
Agent Name:	Wendy Banner
Disclaimer:	Copyright Â© 2024 Long & Foster Real Estate. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest.

The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered.

VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale.

This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments.

Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.

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Property Details

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Description/Comments

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HUD Foreclosures

Foreclosure Listings Increasing