Appreciation in close-in Bethesda/Chevy Chase

[Anonymous]

We are looking for a new home in this area. The problem for us is the comps are pretty old since there has been such low inventory. If we are looking at home sales from 2021 or 2022, what would people think the appreciation has been for the really nice areas of Chevy Chase and Bethesda? Does 5% per year seem right?

[Anonymous]

9,49% for our house in close-in downtown Bethesda, over 14 years, taking into account mortgage, property tax, maintenance and renovation costs.

[Anonymous]

^ That would be ROI.

[Anonymous]

Anonymous wrote:9,49% for our house in close-in downtown Bethesda, over 14 years, taking into account mortgage, property tax, maintenance and renovation costs.

Per year? Or overall (over all 14 years)?

[Anonymous]

What do Zillow and Redfin say about the value of the house?

[Anonymous]

5% since 2022
20% since 2021
35% since 2020

[Anonymous]

Anonymous wrote:

Anonymous wrote:9,49% for our house in close-in downtown Bethesda, over 14 years, taking into account mortgage, property tax, maintenance and renovation costs.

Per year? Or overall (over all 14 years)?

It's return on investment overall, using a calculator on a real estate website. Our house value on paper has nearly doubled during that time frame, but the calculator takes into account the amount of downpayment, details on mortgage cost and renos, taxes, etc.

[Anonymous]

I would look at the home sales in those areas for the price point. A teardown is now about $1.25+. On Zillow my house in close in CC is about 42% higher than we bought it in 2019.
I agree with the PP %’s except maybe even +10% since 2022

[Anonymous]

can’t you just look at houses that sold in that area in 2021 and then see what the Redfin estimate is currently? For my property in CCMD, it is a 28% increase from when I bought in 2021.

[Anonymous]

It's not going to decline. It's the nicest nearby suburb outside the District. Great Falls/McLean is arguably nicer (eye of the beholder), but you have a longer drive into the District.

Don't believe the naysayers. Money still wants to be in Bethesda/CCMD. And then you have the well-off District residents who will always view Bethesda as their put option if they need something different for their kids.

[Anonymous]

Anonymous wrote:It's not going to decline. It's the nicest nearby suburb outside the District. Great Falls/McLean is arguably nicer (eye of the beholder), but you have a longer drive into the District.

Don't believe the naysayers. Money still wants to be in Bethesda/CCMD. And then you have the well-off District residents who will always view Bethesda as their put option if they need something different for their kids.

You could not pay me enough to live in DC proper or anywhere in MD. I can barely stand nova. Too much woke.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It's not going to decline. It's the nicest nearby suburb outside the District. Great Falls/McLean is arguably nicer (eye of the beholder), but you have a longer drive into the District.

Don't believe the naysayers. Money still wants to be in Bethesda/CCMD. And then you have the well-off District residents who will always view Bethesda as their put option if they need something different for their kids.

You could not pay me enough to live in DC proper or anywhere in MD. I can barely stand nova. Too much woke.

then move?

[Anonymous]

Anonymous wrote:

Anonymous wrote:It's not going to decline. It's the nicest nearby suburb outside the District. Great Falls/McLean is arguably nicer (eye of the beholder), but you have a longer drive into the District.

Don't believe the naysayers. Money still wants to be in Bethesda/CCMD. And then you have the well-off District residents who will always view Bethesda as their put option if they need something different for their kids.

You could not pay me enough to live in DC proper or anywhere in MD. I can barely stand nova. Too much woke.

Where do you live?

[Anonymous]

Anonymous wrote:

Anonymous wrote:It's not going to decline. It's the nicest nearby suburb outside the District. Great Falls/McLean is arguably nicer (eye of the beholder), but you have a longer drive into the District.

Don't believe the naysayers. Money still wants to be in Bethesda/CCMD. And then you have the well-off District residents who will always view Bethesda as their put option if they need something different for their kids.

You could not pay me enough to live in DC proper or anywhere in MD. I can barely stand nova. Too much woke.

Tell us the woke that you have problems with

[Anonymous]

Anonymous wrote:It's not going to decline. It's the nicest nearby suburb outside the District. Great Falls/McLean is arguably nicer (eye of the beholder), but you have a longer drive into the District.

Don't believe the naysayers. Money still wants to be in Bethesda/CCMD. And then you have the well-off District residents who will always view Bethesda as their put option if they need something different for their kids.

Just wait till the purple line arrives and eastern Marylanders pour into Bethesda/CCMD. Choo choo!