Mt Prospect in North Potomac

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I was trying to buy a home here, but I am not sure anymore.

My contract itself is going to be over 2.9 million for the Kalorama (2 million base, 125k+ lot premium, 500k structural options, 300k design options). After I move in, I would finish the media room, and gym and do built-ins in the study, loft, etc. + moldings along with the backyard like the model and a pool. That's 400k right there (3.3 million total) + furnishing the home.

Idk, I think that is quite expensive for a modern yet very nice McMansion (I am buying this house so I have the right to call it what it is lol) just for the community (which is my main motive for purchasing here).

I have recently toured 3+ million dollar homes, and they are generally far prettier in Mclean, Great Falls, Bethesda, and Potomac.

These houses in mp with the backyard, built-ins, molding, model home finishes, etc, at 2.7 makes sense. But a 500-600k premium? Idk if it is worth it anymore. The value, regardless, will drop (so if I buy it at 3.3, maybe in 10-15+ years, I will be able to sell at 3ish), and if it is rezoned, maybe 2.8ish. That seems like a bad investment compared to other homes I see on Zillow or building my own home with another builder on a lot I buy.

I don't care about the price that much, but I feel I can get better value elsewhere.

I am not saying it was always a bad investment, as people who bought early on did not spend more than 2.5-2.7 on the home itself (all palatines where under that number and had the floating stairs and more outdoor living, stuff the kalorama lacks). Even the Parkhurst is probably fine as the house wont cost THAT much as they never upped the price and those lot premiums tend to be less.

Maybe the issue is I am wanting something like the model house after paying so much. Maybe people are only taking 50-250k in the design center or not taking the grand multigen and 4 car garage and other upgrades to keep the cost down.

And there is still bidding on all the homesites, which I think is wild. Maybe the reviews of toll brothers are right haha

Who would spend $3M here when you could buy in Bethesda or Potomac?

Who would be so narrow minded that they cant see any other perspective than their own

The perspective of fools and their money?

They can afford 3 million dollar houses with or without you worrying about their money

Proving the point.

[Anonymous]

Any idea how high are the bids doing above the asking lot premium? Homesite 6 just sold. The starting lot premium was 125k. Crazy

[Anonymous]

125k starting? I don't believe that. My guess is people won't bid more than 100k for these premium lots.

[Anonymous]

I don't think it's that crazy. The recent lots that sold at the end of Potomac Hunt had lot premiums around $110k. When those 2 big lots open up at the bottom (174, 175), they'll probably be $110k or higher. The lot premiums on 157 and 158 were supposed to be $50k I believe.

[Anonymous]

Oh my!! I have heard those bigger lots will have a bidding process. I really wonder who would want to bid for these lots given Toll brothers always have a blind bidding. If the starting premium is 110k+, I can only imagine how high are these people willing to go.

[Anonymous]

I think the premium on the lots will be same as the other premium lots, but they have been increasing the base home price and the prices of all the upgrades too. With all this, it brings the home price to close ti $3m which is high for this area. With this price point, a buyer would have multiple other options specifically on much much larger lots. IMO, they will need to either reduce the premium or give out incentives or design studio credits to make attract buyers. There is a homesite that’s been sitting for a while unsold for the same reasons.

[Anonymous]

There are only 4 more lots open. Per the sales lady, the Kolorama model home will be on sale for 3.5 million.

[Anonymous]

I thought these prices were insane but then a house on my very unglamorous Rockville street just sold for $250k over asking for 1.3M.

[Anonymous]

Anonymous wrote:I think the premium on the lots will be same as the other premium lots, but they have been increasing the base home price and the prices of all the upgrades too. With all this, it brings the home price to close ti $3m which is high for this area. With this price point, a buyer would have multiple other options specifically on much much larger lots. IMO, they will need to either reduce the premium or give out incentives or design studio credits to make attract buyers. There is a homesite that’s been sitting for a while unsold for the same reasons.

What homesite has been sitting for a while?

[Anonymous]

Kalorama model for sale 3.45m . Waiting for out troll to tell us how this is a waste of money as you can get cheaper but better in the “real “ Potomac .How the value of the homes will crash in the next few years etc etc 😀 but our troll with end up in a mental health hospital once the house is sold 🤣.

[Anonymous]

Model home is for sale at 3.35:
https://www.redfin.com/MD/Gaithersburg/12118-Hanson-Farm-Dr-20878/home/171188328

[Anonymous]

Anonymous wrote:Any idea how high are the bids doing above the asking lot premium? Homesite 6 just sold. The starting lot premium was 125k. Crazy

about 10k maximum higher than the minimum. The model listed at 3.4 is a dig at yall for ur stupidity to pay these prices. that house isnt worth over 3

[Anonymous]

Anonymous wrote:Model home is for sale at 3.35:
https://www.redfin.com/MD/Gaithersburg/12118-Hanson-Farm-Dr-20878/home/171188328

Seems like it would be more practical to buy similarly priced but nicer new construction in Bethesda, McLean or Arlington.

[Anonymous]

With the ADU, finished basement, third floor, extra garage, high end finishes and the killer backyard, it has about 1 million in upgrades. But yes, for this money someone can buy a mansion. Why settle for this?

[Anonymous]

Anonymous wrote:With the ADU, finished basement, third floor, extra garage, high end finishes and the killer backyard, it has about 1 million in upgrades. But yes, for this money someone can buy a mansion. Why settle for this?

1 million in upgrades?? Maybe 500k at best, unless the builder is charging some ridiculous price for those extras