Potomac, MD

[Anonymous]

Anonymous wrote:

Anonymous wrote:Don't let anyone tell you otherwise, expensive homes in Potomac, MD are languishing on the market right now. If it's a nice house under a million, it may move quickly, but it's a buyer's market in the upper brackets.

I am a pp who live in Potomac and I agree with this. How do you think the upper bracket in Potomac compares to the upper bracket in Bethesda? Are those houses selling quickly or also sitting?

Definitely more upper bracket sales in DC, Bethesda, North Arlington, and McLean than in GF or Potomac. It's been that way for a while.

[Anonymous]

Well, makes sense b/c in the current economic environment, it is very hard to get a large mortgage and/or to be able to make the large downpayment required on high$$ homes (of which there are many in Potomac). Of course that means it is exactly the right time to buy if you are able. Just remember, these things are always cyclical. For ex., there was a time that housed in NWDC hardly appreciated for decades (pre-2000). You could argue that those houses are headed that way again b/c of the excessive bubble there. Point is, Potomac has attracted plenty of wealthy buyers in the past and will continue to do so.

[Anonymous]

There's a market for Potomac, but it's smaller than it used to be. If real estate prices decline in NWDC, which is always a possibility, Potomac will decline even more. Commutes from Potomac aren't getting any easier and gas isn't getting any cheaper.

[Anonymous]

Anonymous wrote:There's a market for Potomac, but it's smaller than it used to be. If real estate prices decline in NWDC, which is always a possibility, Potomac will decline even more. Commutes from Potomac aren't getting any easier and gas isn't getting any cheaper.

It's not an apples to apples comparison. You get more room, both inside and outside, and much better schools in Potomac. You get more urban living (meaning you don't have to drive to do your grocery shopping or dining) and better commutes in NWDC, albeit with shady tree-lined streets much of the time.

I think it's a hard decision for most, but I don't see the one for one comparison.

[Anonymous]

Anonymous wrote:

It's not an apples to apples comparison. You get more room, both inside and outside, and much better schools in Potomac. You get more urban living (meaning you don't have to drive to do your grocery shopping or dining) and better commutes in NWDC, albeit with shady tree-lined streets much of the time.

I think it's a hard decision for most, but I don't see the one for one comparison.

Actually, it is an apples-to-apples comparison. It's just that, at the moment, while some of the apples may be bigger and redder, buyers are preferring the taste of the smaller apples. That doesn't mean some buyers may not still like big, shiny apples.

[Anonymous]

In all fairness, in absolute terms, there are still many sales of homes over $1M taking place in Potomac/20854. However, it's a very expensive area, and there's also more inventory that hasn't moved than in some of the surrounding areas that are closer to DC.

[Anonymous]

It seems homes are being put up at the 1M mark that should be priced in the 850-900K range.

[Anonymous]

Anonymous wrote:It seems homes are being put up at the 1M mark that should be priced in the 850-900K range.

If the properties don't move, the prices will come down eventually. Not everyone can afford pulling the listing and trying again in six months.

[Anonymous]

There are really 2-3 parts of Potomac. The area off Glen, Falls and near Tuckerman that feeds into Wayside is very popular and does have the bling and flash that most people associate with Potomac. If I had the energy/desire to sell and move I would target this area. The houses are large but not all huge McMansions. The neighborhoods either have good sized lots with neighborhood kids playing in them or a community center and pool with neighborhood kids playing in them. Its very family friendly. I love Cabin John and Hadley Park. Wayside is a great elementary school. My kids have lots of friends through preschool and other activities that live around here and its a great area. The turnover here and housing market is very good. People wait to find houses in this area.

The area around River and Falls or west on River is the land of bling, supersized houses, designer jogging suits and too much jewelry at the crazy crowded Starbucks. Heaven help you if you commute down River Road and try to stop at Starbucks after the Potomac Elementary school car lane drop off occurs. If go far enough west on River Road you leave blingville and will hit older large houses but not super mansions on very big lots with a rural feel to it. Its more like Darnestown if that is familiar to you. We live out here in far western Potomac. If you are ultra outdoorsy, like being far out, and want alot of land its great but if not I would not recommend it.

The commute from Potomac, especially the eastern side is actually very good and has gotten better over the years not worse. I have not figured out why but maybe it has something to do with people teleworking. There is one window in the morning when River, Falls, and Piney Meetinghouse to the west get backed up but even this isn't very bad. There is really no dense development going on in Potomac and nothing is zoned for the future. All the big residential development in MoCO is up north and toward Silver Spring. There are mutliple routes into the city and its pretty fast. Its a very quick commute to McLean. For job flexibility and commuting, I think its actually the best location if you are going to the burbs.

[Anonymous]

I don't think a comparison between NWDC urban areas and Potomac makes sense. If you want to live in a condo/rowhouse/smaller house, walk to services and have an urban feel you don't consider Potomac. You look at DC, Arlington, close in Silver Spring, maybe CC or Bethesda. If you want more house, a quieter, more suburban feel and don't want urban you look in Potomac , McLean, or maybe Bethesda away from the center.

[Anonymous]

Anonymous wrote:I don't think a comparison between NWDC urban areas and Potomac makes sense. If you want to live in a condo/rowhouse/smaller house, walk to services and have an urban feel you don't consider Potomac. You look at DC, Arlington, close in Silver Spring, maybe CC or Bethesda. If you want more house, a quieter, more suburban feel and don't want urban you look in Potomac , McLean, or maybe Bethesda away from the center.

What? People on this site are so ignorant it's not even funny. THe people who can afford Foxhall or Forest Hills are the same people who can afford Potomac and there is no shortage of large homes in the earlier areas. And these ares are just as far from "services" whatever the fuck that means.

[Anonymous]

I don't get it, either. It's all housing; people decide what matters to them more; and preferences ebb and flow. It's not like people are hard-wired only to want to live in a particular location.

[Anonymous]

12:26, did you mean to say that the area around Wayside does not have the bling? We live there, lucked into the area a few years ago when we moved from out of state. I have found people to be very down to earth. I also agree that the commute into DC isn't too bad -- takes about 30-35 minutes.

[Anonymous]

I think the real estate market varies depending on where the houses are located in Potomac.

We live in the south eastern side of Potomac near the Bethesda border. We paid almost $1M for our house but find that it was worth it. It is in the suburbs so we get more house and yard than close-in DC areas. That said, we find commute to be incredibly convenient whether we need to go up the 270 corridor, towards Tysons/McLean, into DC, or on the metro. The neighborhood houses were all built in the mid 70's, and feed into Seven Locks (small ES school)/Cabin John/Churchill. Glen Echo, Cabin John are very close by. If the houses in this area are well kept and has some upgrades, they sell super fast and at their listing prices.

[Anonymous]

Anonymous wrote:i am astonished by the number of million plus homes in Potomac. Potomac is not close enough to warrant such ridiculous prices.

I agree. Homes in Bethesda are still selling for $2.5 million, but way out in Potomac? Not as easily.