What will these $2 million-plus new builds in Bethesda sell for?

[Anonymous]

$2.4

[Anonymous]

Anonymous wrote:There are so many highly paid people in this area who have been indoctrinated with the belief that they must live in the Whitman cluster, so I doubt you’ll see much of a discount on these houses.

But why not buy a house in a more interesting neighborhood and send your kids to private school? I mean if the hypothesis is that well-paid people are going to buy in this kind of neighborhood, even if it means overpaying for an unexceptional house in an unexceptional neighborhood. Why do these families feel chained to the Whitman cluster when private school is an option (for those with excess income)?

[Anonymous]

Anonymous wrote:

Anonymous wrote:It surprises me that people want to pay this much to live in a blah neighborhood where there is nothing you can walk to and nothing much to do. We live a few blocks away from these houses, and while the neighborhood is fine, it’s definitely nothing special. Just sprawling, nondescript suburbia. At least nearby Kenwood has a sense of neighborhood identity with holiday parties and such. There’s plenty to walk to just a little east of here, but prices are also higher the closer you get to Woodmont or downtown Bethesda. Our neighborhood is relatively close-in, so that’s great in terms of commuting, and the schools are decent, but it just seems a little sad that there isn’t more going on in terms of community feel.

The schools are more than decent. You’re paying to be able to walk to the best middle and high schools in the county, and for the easy commute to DC

The schools are decent. I live in this neighborhood (within walking distance to these houses). I know about the schools. A lot of our friends' kids have been through these schools. They have problems, like any massive, crowded, public schools. Massive public schools, even in affluent areas, have drug problems, occasional violence, lots of kids with mental health issues, overwhelmed and underpaid teachers and administrators, bullying, and so forth. It's easy for kids to get lost in the shuffle socially/emotionally, or to become a target, or to get a sub-optimal education because no one is paying that close of attention to any one kid. The pandemic only made these things worse. On top of they typical problems, there is also an incredibly intense competition for those kids who want to be at the top of the class, because these neighborhoods are populated by a disproportionate number of striver families. It's harder for an individual kid to get into an ivy league school from Whitman because there is so much more competition than at other upper-middle-class public high schools. If you took a poll of current Whitman or Pyle parents, I think you'd be surprised at the level of dissatisfaction and, for many, disillusionment felt by families that thought the "best" schools meant something different than their actual experience has borne out. I think Moco does a good job with public education, but it can only work with the resources it has. Even being the best in the county (which some would dispute, I think, in terms of demonstrative outcomes) doesn't mean the schools are anything other than decent. Public education needs an overhaul. I would think that parents who care deeply about education (enough to plan where they live around it) and who can afford private school, would choose private school. Lots of our neighbors (again, inbounds for Pyle and Whitman) send their kids to private school. Drive around our neighborhood and look at the private school car magnets and window stickers and you'll get a sense of it.

[Anonymous]

Just because you disagree with someone’s reasoning doesn’t mean they are going to make a decision based on your views! The fact remains that there are plenty of families with plenty of money who want new builds in this area.

[Anonymous]

Anonymous wrote:Just because you disagree with someone’s reasoning doesn’t mean they are going to make a decision based on your views! The fact remains that there are plenty of families with plenty of money who want new builds in this area.

I guess we'll see. I don't have the sense that there are an abundance of buyers at any price point right now, and buyers at any price point can be more discriminating now than in recent years. I think people who want to pay nearly $3m will want more than this from a house and a neighborhood, and I think they can probably afford private school. I agree with the other commenters who think these will see for significantly less for list.

[Anonymous]

These tear down new builds look so generic and the layouts are all the same

[Anonymous]

Anonymous wrote:

Anonymous wrote:There are so many highly paid people in this area who have been indoctrinated with the belief that they must live in the Whitman cluster, so I doubt you’ll see much of a discount on these houses.

But why not buy a house in a more interesting neighborhood and send your kids to private school? I mean if the hypothesis is that well-paid people are going to buy in this kind of neighborhood, even if it means overpaying for an unexceptional house in an unexceptional neighborhood. Why do these families feel chained to the Whitman cluster when private school is an option (for those with excess income)?

Fair point. But it begs the question of what an "interesting neighborhood" is. My guess is that these highly paid who live inbounds for Whitman do so because they find the neighborhood to be interesting in the ways that matter to them -- they are surrounded with people who are also rich, who have similar hobbies, who talk about similar things, whose kids have similar interests, and who generally have the same tastes in life. And they are far away from most crime, homeless people, and riff raff.

[Anonymous]

Will be worth $1M less next year at this time.

[Anonymous]

Anonymous wrote:Will be worth $1M less next year at this time.

Actually, $1.8m feels about right, even now.

[Anonymous]

One thing is clear - these two homes and the others like them are priced like it’s spring 2022.

Also, they are nice enough but not special in any way. Does that cut it for nearly $3million in the current market?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It surprises me that people want to pay this much to live in a blah neighborhood where there is nothing you can walk to and nothing much to do. We live a few blocks away from these houses, and while the neighborhood is fine, it’s definitely nothing special. Just sprawling, nondescript suburbia. At least nearby Kenwood has a sense of neighborhood identity with holiday parties and such. There’s plenty to walk to just a little east of here, but prices are also higher the closer you get to Woodmont or downtown Bethesda. Our neighborhood is relatively close-in, so that’s great in terms of commuting, and the schools are decent, but it just seems a little sad that there isn’t more going on in terms of community feel.

The schools are more than decent. You’re paying to be able to walk to the best middle and high schools in the county, and for the easy commute to DC

The schools are decent. I live in this neighborhood (within walking distance to these houses). I know about the schools. A lot of our friends' kids have been through these schools. They have problems, like any massive, crowded, public schools. Massive public schools, even in affluent areas, have drug problems, occasional violence, lots of kids with mental health issues, overwhelmed and underpaid teachers and administrators, bullying, and so forth. It's easy for kids to get lost in the shuffle socially/emotionally, or to become a target, or to get a sub-optimal education because no one is paying that close of attention to any one kid. The pandemic only made these things worse. On top of they typical problems, there is also an incredibly intense competition for those kids who want to be at the top of the class, because these neighborhoods are populated by a disproportionate number of striver families. It's harder for an individual kid to get into an ivy league school from Whitman because there is so much more competition than at other upper-middle-class public high schools. If you took a poll of current Whitman or Pyle parents, I think you'd be surprised at the level of dissatisfaction and, for many, disillusionment felt by families that thought the "best" schools meant something different than their actual experience has borne out. I think Moco does a good job with public education, but it can only work with the resources it has. Even being the best in the county (which some would dispute, I think, in terms of demonstrative outcomes) doesn't mean the schools are anything other than decent. Public education needs an overhaul. I would think that parents who care deeply about education (enough to plan where they live around it) and who can afford private school, would choose private school. Lots of our neighbors (again, inbounds for Pyle and Whitman) send their kids to private school. Drive around our neighborhood and look at the private school car magnets and window stickers and you'll get a sense of it.

Lots of private schools have issues, too. And even the crap ones cost $45k per year, per kid.

[Anonymous]

As someone who graduated from Walt Whitman High School less than 15 years ago, I’m telling you that that house for that price is absolutely not worth it just because it’s zoned for Whitman. Whitman is a good school, but there’s plenty of other good schools too. At some point, the amount of house you sacrifice doesn’t measure up in benefits you’re seeking in other areas, and that’s the case with this house. Even right next door in the Churchill cluster, you can get a lot more house and essentially the same exact school.

[Anonymous]

Go to the MoCo public school forum on DCUM and do a search for these schools. You will learn a lot about the level of dissatisfaction among people whose kids currently attend. A lot of parents who want to buy in these clusters are basing their opinions of these schools off information from 10+ years ago (when they or their friends were in high school). Things have changed. Engage in conversations with teachers at these schools (either online or in real life if possible). Teacher know the real deal. Go visit the schools in person. Take a tour, watch the kids interacting and then tour some comparable schools. Don’t believe the hype that the real estate industry tries to perpetuate that this cluster is somehow magic or the solution to all your child’s social/emotional/intellectual needs. These schools are decent and on par with just about every other MoCo cluster (with a few exceptions) and also on par with the NWDC schools. Don’t throw good money out the window because you believe that going to these schools will be a unique, unparalleled benefit for your kid, because that’s just not true. Yes, they are decent, above average schools, but not worth planning your whole life around or grossly overpaying for a house just to be near them.

[Anonymous]

The house 2 houses over from the one on Elmore (#7507) is also a new build and it's estimated at $2.7 million.

https://www.redfin.com/MD/Bethesda/7507-Elmore-Ln-20817/home/10669276

[Anonymous]

Anonymous wrote:As someone who graduated from Walt Whitman High School less than 15 years ago, I’m telling you that that house for that price is absolutely not worth it just because it’s zoned for Whitman. Whitman is a good school, but there’s plenty of other good schools too. At some point, the amount of house you sacrifice doesn’t measure up in benefits you’re seeking in other areas, and that’s the case with this house. Even right next door in the Churchill cluster, you can get a lot more house and essentially the same exact school.

Every single school in MCPS uses the same planning guide & syllabus as every other school in MCPS... it's the standard protocol.