Mt Prospect in North Potomac

[Anonymous]

Anonymous wrote:This community is the perfect example of the irrational exuberance in the current market. Once Toll has finished selling these houses, the resale on them will be brutal. I think we could be looking at 10-20 years for people to break even (unless they bought very early). Arden may be even worse — many of those houses are basically on a highway.

Speaking of Arden, this house has had multiple price reductions from $4m to $3.57m. But it was originally sold for $3.2m in 2022.

https://www.zillow.com/homedetails/1374-Tate-Modern-Ln-Great-Falls-VA-22066/306650206_zpid

[Anonymous]

Anonymous wrote:This community is the perfect example of the irrational exuberance in the current market. Once Toll has finished selling these houses, the resale on them will be brutal. I think we could be looking at 10-20 years for people to break even (unless they bought very early). Arden may be even worse — many of those houses are basically on a highway.

Don’t care

[Anonymous]

That’s true. The resale of these house are not looking good at the moment. One Hamlet currently on the market for more than a month with no offer. One orchard sold earlier this year, less than what the original owner paid for

[Anonymous]

Anonymous wrote:

Anonymous wrote:This community is the perfect example of the irrational exuberance in the current market. Once Toll has finished selling these houses, the resale on them will be brutal. I think we could be looking at 10-20 years for people to break even (unless they bought very early). Arden may be even worse — many of those houses are basically on a highway.

Speaking of Arden, this house has had multiple price reductions from $4m to $3.57m. But it was originally sold for $3.2m in 2022.

https://www.zillow.com/homedetails/1374-Tate-Modern-Ln-Great-Falls-VA-22066/306650206_zpid

That house has the strangest price history. Looks like Toll originally put it on the market for $2.2. The owners bought it for $3.2 then immediately relisted it a week later. The photos are insane -- you overlook a highway! Even for $2.2, why would anyone want that?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This community is the perfect example of the irrational exuberance in the current market. Once Toll has finished selling these houses, the resale on them will be brutal. I think we could be looking at 10-20 years for people to break even (unless they bought very early). Arden may be even worse — many of those houses are basically on a highway.

Speaking of Arden, this house has had multiple price reductions from $4m to $3.57m. But it was originally sold for $3.2m in 2022.

https://www.zillow.com/homedetails/1374-Tate-Modern-Ln-Great-Falls-VA-22066/306650206_zpid

That house has the strangest price history. Looks like Toll originally put it on the market for $2.2. The owners bought it for $3.2 then immediately relisted it a week later. The photos are insane -- you overlook a highway! Even for $2.2, why would anyone want that?

Is this one of the model homes?

[Anonymous]

Genuinely curious, why are there so many people commentating on these being too experience? Do you all also complain about other consumer products that are too expensive?

[Anonymous]

Anonymous wrote:Genuinely curious, why are there so many people commentating on these being too experience? Do you all also complain about other consumer products that are too expensive?

Genuinely curious, why do people find it odd that, on a message board about local real estate, commenters would discuss whether that real estate is appropriately priced?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Genuinely curious, why are there so many people commentating on these being too experience? Do you all also complain about other consumer products that are too expensive?

Genuinely curious, why do people find it odd that, on a message board about local real estate, commenters would discuss whether that real estate is appropriately priced?

Not curious about your opinion at all. Do you also complain in local message boards about cars, sporting tickets, electronics, or beers being too expensive? Or do you just not buy them?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This community is the perfect example of the irrational exuberance in the current market. Once Toll has finished selling these houses, the resale on them will be brutal. I think we could be looking at 10-20 years for people to break even (unless they bought very early). Arden may be even worse — many of those houses are basically on a highway.

Speaking of Arden, this house has had multiple price reductions from $4m to $3.57m. But it was originally sold for $3.2m in 2022.

https://www.zillow.com/homedetails/1374-Tate-Modern-Ln-Great-Falls-VA-22066/306650206_zpid

That house has the strangest price history. Looks like Toll originally put it on the market for $2.2. The owners bought it for $3.2 then immediately relisted it a week later. The photos are insane -- you overlook a highway! Even for $2.2, why would anyone want that?

Is this one of the model homes?

Nope, same floor plan as the model but it’s not the model home. There’s only been 1 model in that community and I believe Toll still owns it.

[Anonymous]

If you want new (and we did) and this size, this neighborhood is one of the few choices you have in North Potomac. Quality is average, but we've not had any large issues (knock on wood). Buying process is not a luxury experience. But, when you buy new, you avoid having to compete for preexisting homes and can spec the interior largely to your liking. There's some value in that.

For the hamlets and orchards, the HOA fee takes care of gardening. I didn't want a yard because I have no time, money, or desire to have yard work done.

If you can find brand new, similar sized houses being built in new neighborhoods in this area for considerably cheaper, please share with the group.

[Anonymous]

Anonymous wrote:If you want new (and we did) and this size, this neighborhood is one of the few choices you have in North Potomac. Quality is average, but we've not had any large issues (knock on wood). Buying process is not a luxury experience. But, when you buy new, you avoid having to compete for preexisting homes and can spec the interior largely to your liking. There's some value in that.

For the hamlets and orchards, the HOA fee takes care of gardening. I didn't want a yard because I have no time, money, or desire to have yard work done.

If you can find brand new, similar sized houses being built in new neighborhoods in this area for considerably cheaper, please share with the group.

Well said

[Anonymous]

Anonymous wrote:If you want new (and we did) and this size, this neighborhood is one of the few choices you have in North Potomac. Quality is average, but we've not had any large issues (knock on wood). Buying process is not a luxury experience. But, when you buy new, you avoid having to compete for preexisting homes and can spec the interior largely to your liking. There's some value in that.

For the hamlets and orchards, the HOA fee takes care of gardening. I didn't want a yard because I have no time, money, or desire to have yard work done.

If you can find brand new, similar sized houses being built in new neighborhoods in this area for considerably cheaper, please share with the group.

If you don't have the money for yard work, then you probably bought early. Otherwise, by buying at these prices, you made a mistake.

[Anonymous]

Anonymous wrote:

Anonymous wrote:This community is the perfect example of the irrational exuberance in the current market. Once Toll has finished selling these houses, the resale on them will be brutal. I think we could be looking at 10-20 years for people to break even (unless they bought very early). Arden may be even worse — many of those houses are basically on a highway.

Speaking of Arden, this house has had multiple price reductions from $4m to $3.57m. But it was originally sold for $3.2m in 2022.

https://www.zillow.com/homedetails/1374-Tate-Modern-Ln-Great-Falls-VA-22066/306650206_zpid

I would never pay over 2.5 million for that just because its 10000 square feet.

[Anonymous]

Anonymous wrote:
If you don't have the money for yard work, then you probably bought early. Otherwise, by buying at these prices, you made a mistake.

Who in the world do you think you are that you can tell someone else they made a mistake in their home purchase? Unbelievable!

People buy houses for different reasons. They value different things. Some move frequently. Others stay for decades. For you to judge them is ridiculous.

I live in a Windmill. Absolutely love living here and plan to stay for decades. I have relatives in a Hamlet. They are happy, too. My neighbors are also enjoying their homes and the community, too. I’m not saying everything is rainbows and unicorns, but Toll builds a nice house here and the community is very welcoming.

I understand that Mt. Prospect might not be for everyone. It isn’t cheap (but in my opinion worth it). You might want a more urban feel and prefer Bethesda or Rockville. Personally, I enjoy seeing the wildlife - deer, foxes, groundhogs, hawks, etc.

What I don’t understand is why some people who choose not to buy here feel the need to comment on this board. If it’s not for you, fine. MOVE ON.

If you are looking at buying here and want to ask questions, please do. I got a lot of answers and ideas from this thread when I was looking at buying.

[Anonymous]

Thank you so much for this perspective. I'm new in the process with a next spring completion date, and these posts were making me nervous. It's nice to hear from someone who actually has experienced the community.