Churchill Village South, 2008 Rated Market Update by Team Limejuicer

Churchill Village South Single Family Home

Market Update for 2008

Churchill Village South community is located north of Father Hurley Boulevard and is bordered by Lake Churchill and Little Seneca Lake. Churchill Village - South was built with families in mind. Walking trails and bike paths criss-cross the entire community, which is immediately adjacent to Black Hills Regional Park. In addition to the lakes, CVS offers a host of other recreation opportunities including playgrounds, tennis courts and two swimming pools. There are two schools within the confines of Churchill Village - South, Lake Seneca Elementary School and Martin Luther King, Jr., Middle School. With Seneca Valley High School nearby, the children can literally walk to school from the first day of kindergarten until they graduate from high school.

This community is managed by Vanguard Management and appears to continuously strive to beautify the community's common grounds and facilities. Location wise this community boasts two Germantown's lakes and one of the best located community centers in the county (panoramic views of Little Seneca Lake in the foreground and Black Hills Regional Park in the background).

The community has a mixture of around 800 townhomes and single family homes - By the way the single family homes in this community are the only ones in Germantown that could score a 10 for location.....

Highest Sale for 2008

20037 Wanegarden Court - 4 Bedroom, 2 Bathroom Split Foyer sold for $431,000 in June 2008

The home was in above average condition scoring an 8 with newer appliances, new windows, carpet and paint. Location scored an 8 with a partial view of the lake and could have got a 9 if there hadn't been trees obscuring the view. Total score for the buyer was a 23 and the seller scored a 30. (Note - the seller could have managed an additional $20,000 without the tree obstruction) The higher the number for the buyer the better, the lower the number for the seller the better.

Lowest Sale for 2008

13501 Walnutwood Lane - 4 Bedroom, 3 Bathroom Rambler sold for $325,000 in May 2008

The home was in below average condition scoring a 5, it needed work in the basement, flooring and updated kitchen. This was a short sale that was unfortunately poorly managed. The buyer however did well and scored a 23, the seller scored a 30. The seller/bank lost around $32,000 by managing this incorrectly.

Total number of Successful Sales in 2008 - 8

Total number of Failed Sales in 2008 - 6

Each one of these failed sales had out of county representation - highly recommend you use a Germantown realtor, but at least a Montgomery County realtor.

Best Buyer Deal in 2008

19993 Wild Cherry Lane - Regular sale came on the market 26 February 2008 for $440,000, lowered their price to $425,000 on 27th March, to $410,000 on 16th April and for the last time to $399,000 on 13th May. Home was contracted on 10th July and settled 14th July for $390,000.

The buyer actually tied with two other buyers, but I felt that due to the condition of the property which scored a 9 (completely renovated with way superior materials) this home was beyond just move in. The buyer scored a 23 with a value score of an 8.

Worst Buyer Deal in 2008

20021 Wanegarden Court - Regular sale - 4 Bedroom, 2 Bathroom Split Foyer. Sold in 24 days for $430,000 on 2nd April. This home was in expected condition and scored a 7. The buyer scored a 20.

Best Seller Deal in 2008

Goes without saying if the buyer didn't do well then the seller must have....the winner is 20021 Wanegarden Court. Seller scored a 27 (made $20,000 more) - Local representation was used....

Worst Seller Deal in 2008

The winner is 13501 Walnutwood Lane - Poor asset management used on this pre-foreclosure, losing the bank tens of thousands of dollars.

Forecast for 2009

This is one of the most stable single family subdivisions in Germantown, there hasn't been a single foreclosed property and only one short sale on the market in the past 14 months. The concern this subdivision may have is it lack of publicity as to its location and its facilities. The natural tendency of all buyers is to look at homes that are going to be less expensive and distressed at the same time. Therefore, when one of these homes comes on the market they will be competing against homes in the greater Germantown area with substantially lower list prices. I highly recommend that if you live in this neighborhood and are looking at either retiring or moving up that you hire a Germantown Broker - they should be able to provide you with the largest local marketing exposure. This subdivision can anticipate further decline for the first 3 quarters of the year with between 6 and 10 sales occuring in 2009. Should Germantown's inventory numbers decrease by another 30% to around 300 properties then this subdivision will have rode out the economic storm better than most.

I hope you found this information useful, please feel free to contact me directly if you would like to make sure you get the best deal in town for both buyin and/or selling.

Lawrence Evans

Team Limejuicer - Re/Max Town Center - Germantown

Email me at Lawrence@Limejuicer.com or my cell phone (301) 922-2156

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