Edgewater (Annapolis, Solomons: 2009, mortgage, credit)

[elmore]

Is anyone familiar with Edgewater- near Annapolis? This is where a house is being raffled-you own the house free and clear if you win. fiftydollarhouse.com. I am in AZ so I cannot go and see the area. The property appears to border right on Solomon Island Rd. Probably a lot of traffic noise? Anything anybody can tell me about the area or any pertinent info about this house, raffle, would be appreciated.

[kwhitt]

I drive past that house every day. Solomons Island is a busy road. The house looks nice from the outside. I always assumed that sign was some kind of gimmic. Edgewater is a nice, if a bit rundown, area. Houses are close together and it's a mix of expensive looking houses right next to small, rundown places. The schools for the area are pretty good, although if a person has the money, Davidsonville seems to be the preferred for the elementary. Those children feed into the middle school in Edgewater. Central Middle School is a blue ribbon school and is still making AYP. I don't know a lot about the highschool, other than that it is right next to the middle school.

[Ann Alison]

I'd stay in AZ if I were you.

[bande1102]

I read about this and passed. One, the taxes on the winnings would be really high and I think you'd have to take out a mortgage just to cover the taxes. Two, I'd imagine the property taxes and utilities on that monster would be extremely high. Most importantly, you're stuck with that house. They couldn't sell it--probably because it isn't worth what they think it is. Which makes me wonder how MD would assess the taxes.

Also, I really don't like that location. And I think that's going to hurt the value of that house.

[PenguinSix]

It's a nice looking house, but it's right on Rt.2 which is 4 lanes there (and most people do about 60). If I won it I'd try to turn around and sell it (for a lot less than they think it is worth)

[Njrover0216]

Edgewater is a mixed area. I rented there for about 11 months. I lived over by the water and it has a very beach community feel to it. I have heard it was taking a turn for the worse again. The school district is decent. Having said all this the surrounding areas of Edgewater you can not beat. There is so much to do here, the weather is awesome, abundance of jobs...best of luck

[elmore]

I passed on it also. '09 taxes for the current owner are $8615.00 before homestead credits which do not pass to the new owner. The assessed value by the county for '09 is $821,110. Taxes for the winner would be owed at roughly 50% of market value which is supposedly $1,000,000. There still is a decent profit to be made if the new owner puts it back on the market for a quick turnaround- but even at a reduced price it may take time to sell with not as many people looking for a house in that price range and the traffic noise is a big problem.

[jklarman]

Hi! Well, the house was finally raffled - a Colorado woman won it! Check it out!
Colorado woman wins $1.2 million house in $50 raffle - Top Stories - (HometownAnnapolis.com)

[sweetpotater58]

If you win the house then move in. Edgewater isn't what it was when I was a kid, but nothing much is now since I am almost an old coot. Anne Arundel county isn't bad.