MoCo “Attainable Housing” plan and property values

[Anonymous]

Just came across this plan being considered by council to rezone properties abutting corridors near metro stations to allow for townhouses or apartment buildings. I happen to live in a potentially-affected property (though within one of the CC towns that has a separate building approval process, so doubtful they’d ever approve something besides a SFH). I’m wondering what the potential implications are of this on property values. I’m not interested in selling, though if someone came and offered me 3x what I paid, I might consider it…

On the other hand, I really don’t need my property taxes to go up arbitrarily because my piece of property might now be desirable to developers.

What are people’s thoughts on this?

https://montgomeryplanningboard.org/wp-content/uploads/2024/05/Attainable-Housing-Strategies-Work-Session-10_05.30.24-Staff-Report_Final.pdf

[Anonymous]

I'm very supportive. It will increase housing opportunities and incentivize more environmentally-friendly walkable development.

The hypothetical narrow effect on my own personal property value is not a driver of my view on this.

[Anonymous]

Anonymous wrote:I'm very supportive. It will increase housing opportunities and incentivize more environmentally-friendly walkable development.

The hypothetical narrow effect on my own personal property value is not a driver of my view on this.

I like my quiet neighborhood. I don’t think this really is going to work to bring this to places like Chevy Chase, but it’s a developer’s wet dream. It’s just going to make them money.

But that money has to come from somewhere hence why I’m curious how it will affect my property going forward. If my taxes suddenly jump because hypothetically someone could build an apartment building on my land I’m going to be really upset.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I'm very supportive. It will increase housing opportunities and incentivize more environmentally-friendly walkable development.

The hypothetical narrow effect on my own personal property value is not a driver of my view on this.

I like my quiet neighborhood. I don’t think this really is going to work to bring this to places like Chevy Chase, but it’s a developer’s wet dream. It’s just going to make them money.

But that money has to come from somewhere hence why I’m curious how it will affect my property going forward. If my taxes suddenly jump because hypothetically someone could build an apartment building on my land I’m going to be really upset.

Well OK then.

[Anonymous]

News flash: you won’t be forced to turn your house into a condo if you don’t want to. You can keep your house.

Now, if you don’t want your neighbor to build condos, buy them out and keep their house as is! Your property rights end at the end of your lot

[Anonymous]

Anonymous wrote:News flash: you won’t be forced to turn your house into a condo if you don’t want to. You can keep your house.

Now, if you don’t want your neighbor to build condos, buy them out and keep their house as is! Your property rights end at the end of your lot

Actually, if your neighborhood gets rezoned, the next month the County sends stormtroopers to your house. They force you to sign a demolition contract at gun point. Then you have to sign a construction contract for a 6 unit new building, and you get 1 unit. If you don't sign, they have the bulldozers idling next door to knock down your house.

[Anonymous]

It will ruin neighborhoods and reduce properties values in some neighborhoods without protections from excessive density. Neighborhoods with protective covenants and HOA's that prevent multifamily housing will become more valuable. Some properties close in that have higher redevelopment potential will increase in value due to higher land prices. Many of the others will lose value and resident quality of life will go down hill. Single family communities close to high quality private schools with strong HOA/Covenants to protect thew neighborhood are likely safe. However, many middle class homeowners in desirable school attendance zones will be financially destroyed if this passes.

[Anonymous]

Are we sure this won't override neighborhood protective clauses? That is how they're pushing this through in some NE towns. I can't find information about that anywhere.

[Anonymous]

Anonymous wrote:It will ruin neighborhoods and reduce properties values in some neighborhoods without protections from excessive density. Neighborhoods with protective covenants and HOA's that prevent multifamily housing will become more valuable. Some properties close in that have higher redevelopment potential will increase in value due to higher land prices. Many of the others will lose value and resident quality of life will go down hill. Single family communities close to high quality private schools with strong HOA/Covenants to protect thew neighborhood are likely safe. However, many middle class homeowners in desirable school attendance zones will be financially destroyed if this passes.

Have any of these things happened with Missing Middle in Arlington?

[Anonymous]

Anonymous wrote:

Anonymous wrote:It will ruin neighborhoods and reduce properties values in some neighborhoods without protections from excessive density. Neighborhoods with protective covenants and HOA's that prevent multifamily housing will become more valuable. Some properties close in that have higher redevelopment potential will increase in value due to higher land prices. Many of the others will lose value and resident quality of life will go down hill. Single family communities close to high quality private schools with strong HOA/Covenants to protect thew neighborhood are likely safe. However, many middle class homeowners in desirable school attendance zones will be financially destroyed if this passes.

Have any of these things happened with Missing Middle in Arlington?

You are trying to make a point to us, so just get to the point and tell us what you want to think. Or do you think we are so stupid that you have to ask us probing questions so we will finally get to a point where we realize how smart you are?

[Anonymous]

Anonymous wrote:It will ruin neighborhoods and reduce properties values in some neighborhoods without protections from excessive density. Neighborhoods with protective covenants and HOA's that prevent multifamily housing will become more valuable. Some properties close in that have higher redevelopment potential will increase in value due to higher land prices. Many of the others will lose value and resident quality of life will go down hill. Single family communities close to high quality private schools with strong HOA/Covenants to protect thew neighborhood are likely safe. However, many middle class homeowners in desirable school attendance zones will be financially destroyed if this passes.

Those middle class homeowners just need some luck and they can sell at the right time. The writing is on the wall, time for them to get out, but if they time it right, it doesn’t need to be a financial hit.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It will ruin neighborhoods and reduce properties values in some neighborhoods without protections from excessive density. Neighborhoods with protective covenants and HOA's that prevent multifamily housing will become more valuable. Some properties close in that have higher redevelopment potential will increase in value due to higher land prices. Many of the others will lose value and resident quality of life will go down hill. Single family communities close to high quality private schools with strong HOA/Covenants to protect thew neighborhood are likely safe. However, many middle class homeowners in desirable school attendance zones will be financially destroyed if this passes.

Have any of these things happened with Missing Middle in Arlington?

You are trying to make a point to us, so just get to the point and tell us what you want to think. Or do you think we are so stupid that you have to ask us probing questions so we will finally get to a point where we realize how smart you are?

Not PP, but: This has not happened in Arlington. And the catastrophizing without any support about "financially ruined" should be scoffed at.

[Anonymous]

Anonymous wrote:It will ruin neighborhoods and reduce properties values in some neighborhoods without protections from excessive density. Neighborhoods with protective covenants and HOA's that prevent multifamily housing will become more valuable. Some properties close in that have higher redevelopment potential will increase in value due to higher land prices. Many of the others will lose value and resident quality of life will go down hill. Single family communities close to high quality private schools with strong HOA/Covenants to protect thew neighborhood are likely safe. However, many middle class homeowners in desirable school attendance zones will be financially destroyed if this passes.

Oh, we are doing hyperbolic posts like this already? Cool. My turn:

It will enhance the quality of life in all neighborhoods and increase home values everywhere. The density around transit corridors will bring vibrant walkable destinations and resident-serving businesses that increase tax revenue to the county, thereby increasing the quality and quality of all county services for everyone. Within 10 years we will have the ideal mix of different housing types for all types with stable property values for all.

[Anonymous]

If only the guy who designed Reston were still around.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It will ruin neighborhoods and reduce properties values in some neighborhoods without protections from excessive density. Neighborhoods with protective covenants and HOA's that prevent multifamily housing will become more valuable. Some properties close in that have higher redevelopment potential will increase in value due to higher land prices. Many of the others will lose value and resident quality of life will go down hill. Single family communities close to high quality private schools with strong HOA/Covenants to protect thew neighborhood are likely safe. However, many middle class homeowners in desirable school attendance zones will be financially destroyed if this passes.

Oh, we are doing hyperbolic posts like this already? Cool. My turn:

It will enhance the quality of life in all neighborhoods and increase home values everywhere. The density around transit corridors will bring vibrant walkable destinations and resident-serving businesses that increase tax revenue to the county, thereby increasing the quality and quality of all county services for everyone. Within 10 years we will have the ideal mix of different housing types for all types with stable property values for all.

Progressives--you don't care about others' opinions on your objectives--so just get in power, implement what you want as is your plan--don't bother pretending here that you are looking to understand other perspectives or that you care of we agree with you or not--you don't. This whole thread is a waste of time.