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8723 Persimmon Tree Road
Potomac, MD 20854
$4,895,000
Conventional
Property
Bedroom
7
Bathroom
8
Property Type
Conventional
Square ft
8971
Property Description
Set back from the road on 2.01 pristine acres in the prestigious Potomac enclave of Bradley Farms, this recently renovated and reimagined luxury home is a seamless blend of traditional architecture and modern, European design. This property is the pinnacle of Potomac living, featuring a main home with six bedrooms, six bathrooms, and one half bath, tennis court, pool, pool house with wet bar, an additional full bathroom as well as a living space or seventh bedroom. In the main home, an impressive front porch with two story columns leads to a custom steel and glass double front door by the French Steel Company. A grand foyer with checkered marble floor is flanked by embassy sized formal living and dining rooms each with fireplaces, built-in cabinets, detailed moldings, and custom plaster details.Through the dining room is a meticulously designed kitchen with the finest custom finishes and cabinetry. The most noteworthy kitchen details include a 15‘ oak island, a dual-fuel Lacanche range with two ovens, Wolf wall oven, separate Sub-Zero refrigerator and freezer, two dishwashers, a breakfast nook, and two massive french doors leading to the Ipe deck. Adjacent to the kitchen is an oversized, multi-purpose mudroom that also functions as a home command center, secondary kitchen staging area, as well as a laundry room and includes access to the three car garage. On the other side of the kitchen a rear gallery with wine and beverage bar opens to a sunken family room with paneled walls, stone surround fireplace, and herringbone wood floors. The rear gallery leads to a stunning paneled library with a fireplace and soaring ceilings. A formal powder room with floating marble vanity featuring an inlay marble sink and wall mounted Waterworks fixtures rounds out the main level. On the upper level, a landing with a detailed built-in bench welcomes you to the primary suite foyer. Off the primary foyer is a spacious bedroom with a seating area, fireplace, and custom vaulted ceiling feature. Back through the primary vestibule is a hall with three closets leading to the primary bathroom. The primary bathroom features radiant heat marble floors with marble inlay rug, white oak vanities, frosted glass surround water closet, and all Waterworks plumbing fixtures including a cast iron floating tub with skylight above. Four additional bedrooms, two with a shared bathroom and two with a dedicated bathroom (one en-suite) complete the upper level. The walk-out lower level features a checkered marble foyer, wine cellar, media room, second kitchen, living space with fireplace, full bedroom suite with marble bathroom and walk-in closet, an expansive gym, additional full bathroom, and a patio. The private, flat rear yard includes an in-ground pool, pergola, tennis court with professional grade basketball hoop, and a pool house. This impressive property is located just minutes from Potomac Village, Congressional Country Club, and I-495. Whitman School Cluster!
Property Information
Lot Size
2 acre(s) square ft
Property Type
Residential
Year Built
1988
MLS Number
MDMC2127350
Location
Address
8723 PERSIMMON TREE ROAD
City
POTOMAC
State
MD
Zip Code
20854
County
MONTGOMERY (CENTRAL)
Listing
Provider
Name
Compass
Phone
(202) 491-1275
Office Name
Compass
Office Phone
(301) 304-8444
Agent Name
Cheryl Leahy

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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.

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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.