Welcome to Luxury For Less, a weekly column highlighting the best deals in luxury real estate. Written by Brandy Schantz of TTR Sotheby’s International Realty, Luxury For Less offers tips and tricks navigating the competitive real estate market and securing the home of your dreams. To learn more, visit ttrsir.com.
If you are searching for a home right now or know someone who is, you know how difficult this market is.
Homes are going under contract quickly and often with multiple offers. I’ve heard of as many as 30 offers on a single home. Inventory is very low and demand does not seem to be waning. I am advising all my buyers to be ready to see a home the day it goes on market or, if possible, before it goes on market.
Unfortunately, if you wait to view homes on the weekend, the homes you are interested in will probably be under contract. A well-priced home will sell quickly in this market so this week’s reduced listings largely give us a peek into how the other half lives.
There are fewer buyers in the higher price ranges so these homes tend to take longer to sell. This week, there are a lot of motivated sellers for some very luxurious listings with some very drastic price cuts.
In Vienna, 8518 Wedderburn Station Drive features a breathtaking backyard that must be seen. Spend your summer lounging by the pool during the day and sitting in the hot tub at night. This 6 bedroom, 5.5 bath home is meant for relaxing. The basement even has a sauna and wine cellar!
The home was originally listed for $2,600,000. This week, the home was reduced to $2,100,000. The home was built in 2013 but new builds of this size and quality sell for significantly higher prices.
In McLean, 906 Turkey Run Road has the most dramatic price cut of all of our featured listings. This home was just reduced by $1,400,000. It was originally listed for $11,400,000 and now is being sold for $9,500,000. This custom built Mediterranean home has its own gym, theater and state-of-the-art wine cellar.
The backyard is as magnificent as the home featuring a pool with jets and a fire pit. Turkey Run Road is a prestigious neighborhood in McLean and features some of the community’s most lavish homes.
Check out all of this week’s Luxury for Less listings:
- 8518 Wedderburn Station Drive Vienna (Reduced $129,000)
- 1707 James Payne Circle McLean (Reduced $34,000)
- 828 Springvale Rd Great Falls (Reduced $24,000)
- 11325 Fox Creek Farm Way Great Falls (Reduced $100,000)
- 11324 Fox Creek Farm Way Great Falls (Reduced $200,000)
- 906 Turkey Run Road McLean (Reduced $1,400,000)
The properties listed are a small selection of properties available in the Tyson’s Corner area. For a full list of properties listed on MLS and private exclusives, please contact Brandy Schantz.