Price Pick of the Week
14104 Beechvue Lane, Silver Spring

Original listing price: $609,900 (March 5, 2008)
Current listing price: $455,000 (July 22, 2008)
Slash rate: 25 percent
Square footage: 2,934

Built in 1972, this four-bedroom “beautiful, well-maintained home” is situated on “a gorgeous lot” and offers “plenty of great living space.” The current owners ought to know: They’ve lived there since the house was built, says real estate agent Lilla Hammond of Long & Foster North Bethesda/Rockville. Now these empty-nesters want to move to North Carolina to be closer to relatives. Hammond is the second agent to represent the property. “The house was priced a little too high when it first started,” she says. “When you price a house a little too high, it kind of followed the market down. The best situation is to be ahead of the market.” Hammond says there have been several foreclosures in the neighborhood, but those houses mostly lack the great “curb appeal” at 14104 Beechvue Lane. In addition, she touts the area’s active civic association, a five-minute drive to the Glenmont Metro Station, and “if someone is a wonderful walker, it’s walking distance to shopping,” she says. In early July, the house price was lowered from $524,900 to $499,990. Then, Hammond re-listed the house at $455,000 on July 22. “They wanted higher, and I said ‘You just can’t do it!’” she says. “This market is not supporting that price. We’d like to see someone come in and really just take a good look at this price.”