20 Years of Ownership and $100 in Appreciation in Potomac

[Anonymous]

July 2005 bought for $1,999,900
January 2026 sold for $2,000,000

I find it a big shocking as it is a nice house on a cul de sac (dead end) walking distance to Village. So a good location.

https://www.redfin.com/MD/Potomac/9809-Tibron-Ct-20854/home/10916274

[Anonymous]

It was built in 1987 and had sold for $1.35M in 2003. And there are no pictures of the interior.

So maybe the 2005 buyer overpaid and it hasn’t been updated much.

[Anonymous]

Anonymous wrote:July 2005 bought for $1,999,900
January 2026 sold for $2,000,000

I find it a big shocking as it is a nice house on a cul de sac (dead end) walking distance to Village. So a good location.

https://www.redfin.com/MD/Potomac/9809-Tibron-Ct-20854/home/10916274

Not terribly surprised because 2005 was a near peak for real estate in that area (and a lot of other areas). So at the time, it probably wasn't worth 2M. We had the same happen just a few blocks away. Overpaid in 2007, then renovated and sold recently and barely made 150K.

[Anonymous]

that area of potomac is very far out not surprised

[Anonymous]

That's an ugly-ass cynical house. It would have appreciated with the market if they had just built a traditional colonial design with less tacky materials.

[Anonymous]

2005 was the height of prices, right before the crash. We were looking in the $1.8m range at that time in Arlington. THank golden we didn’t pull the trigger because there was a huge recession and the value of that house (that I loved and was so sad we didn’t get) didn’t recover until 2021 thanks to Covid inflation and low rates.

[Anonymous]

Anonymous wrote:that area of potomac is very far out not surprised

I disagree, this is not far out and walking distance to Potomac Village and about 3 miles to beltway.

[Anonymous]

That's a difficult age for a house in the burbs.

[Anonymous]

Overpaid in 2005. It's ugly but perhaps looked less ugly back then when it was 20 years newer. It's now old and out of date looking. Reads 80s McMansion.

[Anonymous]

This was actually very common throughout the DMV. People forget just how much of a bubble we were in. I bought my house in 2007 from someone who had bought it in 2005. I paid 15% less than they did. 15% might not sound like a lot, but that was a $125K loss to them (and that's before the 5% commission that went to the agents).

[Anonymous]

As others pointed out, 2005 was peak of a major bubble. There are still houses today selling for what they sold for in 2005-2007. The bust afterwards was significant. Adjusting for inflation, the peak 2005 prices were probably higher than today. And at higher interest rates!

I remember when a house next to my parents sold in 2003 and then 2005, and magically gained 200k in appreciation with no physical changes.

[Anonymous]

Yes, similar in McLean. Bought in 2005 and my house has a very similar value now even though we have put in probably $300k in upgrades/renos on a 1980s house. 2005 was a very tough time to buy. Very tight and prices through the roof at the time.

[Anonymous]

Anonymous wrote:That's an ugly-ass cynical house. It would have appreciated with the market if they had just built a traditional colonial design with less tacky materials.

Aren’t you a (check the bolded). No idea why yo want to insert that word, but it’s truly telling - you can’t afford that home because you’re made of “tacky materials”.

[Anonymous]

Anonymous wrote:

Anonymous wrote:that area of potomac is very far out not surprised

I disagree, this is not far out and walking distance to Potomac Village and about 3 miles to beltway.

It's far out there. For $2M, I'll take newer and inside the beltway.

[Anonymous]

8k sqft? I wouldn’t sell it for that