For those in Mclean/Langley: when do you think inventory in your neighborhood will go up?

[Anonymous]

Definitely a crazy market — one that has seen huge $ increases in just a matter of months. The million dollar question is: is this the new normal or just a temporary increase given COVID and low supply? Maybe as work returns and people have more established hybrid set ups, people will feel more comfortable going further out or, on the flip side, will want to go back into the city to be where the action is

Who knows.

[Anonymous]

Anonymous wrote:

Anonymous wrote:If the neighbor’s children finally convince my neighbor to sell, she is in assisted living, there will be at least one house. It is the 1970’s in the house, but everything is well taken care of and it is a center hall colonial with four bedrooms up stairs and a two car garage. It is also in a DCUM top ES district. It will go fast. It is a unicorn. That is the only possibility on my street for this spring.

This is exactly the kind of home we're looking for. Not looking for a completely renovated home, just something with nice curb appeal and decently well kept. Fingers crossed your neighbor decides to sell!

You and everyone else, but you have to beat the builders, because they are already in line.

[Anonymous]

This one is coming this weekend.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just saw this coming up in my neighborhood:
https://www.redfin.com/VA/McLean/8301-Riding-Ridge-Pl-22102/home/9262707

Nice price, but the location outside the beltway near 193 blows.

It’s super convenient to go shopping in Tyson’s and kids sport around Spring Hill rec center. Very big lot too. But it’s above OP’s reach.

It’s a nice house but it’s definitely not a “super convenient” location and until recently would have sold for more like $1.3M. It’s hard to know whether $1.6 will remain the new normal for such properties or whether prices may come down if there’s more inventory later this year.

That looks like a cut through street. First thing that would cross it off my list. Big, huge PASS.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just saw this coming up in my neighborhood:
https://www.redfin.com/VA/McLean/8301-Riding-Ridge-Pl-22102/home/9262707

Nice price, but the location outside the beltway near 193 blows.

That is a great neighborhood.

Please elaborate.
Are there sidewalks?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Not every high paying job is in DC. This location is very convenient to DC and Reston, where a lot of lucrative jobs locate

I agree that not every high paying job is in DC. But the same house at a location "on the other side of McLean," whether it's a Langley neighborhood like Langley Oaks or a McLean neighborhood like Chesterfield Woods, is probably going to cost more because it's closer to DC and puts you between the high-paying jobs in both DC and Tysons. The house previously posted is further out, almost in Great Falls, and also not especially close to other amenities.

Having said that, it's a crazy market and there's not much inventory, so maybe it will go for the asking price or higher. Personally, I'd be uncomfortable spending $1.6M for that house in that location without more comparables. For example, while Redfin now values this similar house at $1.57M, it actually sold for $1.46M last April. That price seems more reasonable to me.

https://www.redfin.com/VA/McLean/1008-Kimberwicke-Rd-22102/home/9266065

Great house, but that next door neighbor is AWFULLY close. I suppose as long as they don't have a bunch of young screaming kids they lock outside every morning........or a kit car they fancy work on Sunday early morning......

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Not every high paying job is in DC. This location is very convenient to DC and Reston, where a lot of lucrative jobs locate

I agree that not every high paying job is in DC. But the same house at a location "on the other side of McLean," whether it's a Langley neighborhood like Langley Oaks or a McLean neighborhood like Chesterfield Woods, is probably going to cost more because it's closer to DC and puts you between the high-paying jobs in both DC and Tysons. The house previously posted is further out, almost in Great Falls, and also not especially close to other amenities.

Having said that, it's a crazy market and there's not much inventory, so maybe it will go for the asking price or higher. Personally, I'd be uncomfortable spending $1.6M for that house in that location without more comparables. For example, while Redfin now values this similar house at $1.57M, it actually sold for $1.46M last April. That price seems more reasonable to me.

https://www.redfin.com/VA/McLean/1008-Kimberwicke-Rd-22102/home/9266065

Langley Oak is selling for 1.7-1.9 now! While a year ago it was more for 1.3-1.5. It's been a crazy year!

That would be insane pricing for Langley Oaks. It was one of the last neighborhoods in 22101 to spike, as the house are dated outside.

[Anonymous]

Anonymous wrote:This one is coming this weekend.

Where to see it? Not on Redfin or zillow

[Anonymous]

Anonymous wrote:

Anonymous wrote:This one is coming this weekend.

Where to see it? Not on Redfin or zillow

Hence why it said coming this Saturday. It’s from a private group for realtors.

[Anonymous]

Ah, the realtors are on the thread. No wonder someone repeated like five times how the one neighborhood was “desirable.”

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Inventory will go up when apartment buildings are constructed there. Until then, it will be tough.

But then it will no longer be a "coveted" area -- just another Tysons with low income families in two bedroom apartments.

Interesting. So the apartments are going to cause the area to be moved further away from dc?

Keep trying with your Greater Greater Washington shtick. The neighborhood will not be less desirable because of any change in the location but because there will no longer be single family houses with yards, schools, parks, and rec centers that are not overcrowded, and the schools will no longer be top performing. Just compares Westgate Elementary School where many McLean apartments are located and Springhill Elementary school and get back to me.

You say this but McLean high school has not been pulled back by apartment dwellers - these very same McLean apartments are zoned to McLean High.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just saw this coming up in my neighborhood:
https://www.redfin.com/VA/McLean/8301-Riding-Ridge-Pl-22102/home/9262707

Nice price, but the location outside the beltway near 193 blows.

It’s super convenient to go shopping in Tyson’s and kids sport around Spring Hill rec center. Very big lot too. But it’s above OP’s reach.

It’s a nice house but it’s definitely not a “super convenient” location and until recently would have sold for more like $1.3M. It’s hard to know whether $1.6 will remain the new normal for such properties or whether prices may come down if there’s more inventory later this year.

1.3 is way too low, and I don’t think 1.6 is that overpriced (if at all). That lot is huuuuuge and the house is in good shape. It may well attract a builder, especially if the lot can be subdivided.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just saw this coming up in my neighborhood:
https://www.redfin.com/VA/McLean/8301-Riding-Ridge-Pl-22102/home/9262707

Nice price, but the location outside the beltway near 193 blows.

It’s super convenient to go shopping in Tyson’s and kids sport around Spring Hill rec center. Very big lot too. But it’s above OP’s reach.

It’s a nice house but it’s definitely not a “super convenient” location and until recently would have sold for more like $1.3M. It’s hard to know whether $1.6 will remain the new normal for such properties or whether prices may come down if there’s more inventory later this year.

They bought the house for 1.24 in 2014 and seemed like they built a screened porch and fencing etc. Sounds reasonable to ask 1.6 after 8 years. But it can well be a tear down for the age of the house... 1.6 for a 0.7 acre lot? Not sure builders would jump in.

Welp, looks like someone/some developer thought it was worth it. It just went "Pending"

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Just saw this coming up in my neighborhood:
https://www.redfin.com/VA/McLean/8301-Riding-Ridge-Pl-22102/home/9262707

Nice price, but the location outside the beltway near 193 blows.

It’s super convenient to go shopping in Tyson’s and kids sport around Spring Hill rec center. Very big lot too. But it’s above OP’s reach.

It’s a nice house but it’s definitely not a “super convenient” location and until recently would have sold for more like $1.3M. It’s hard to know whether $1.6 will remain the new normal for such properties or whether prices may come down if there’s more inventory later this year.

They bought the house for 1.24 in 2014 and seemed like they built a screened porch and fencing etc. Sounds reasonable to ask 1.6 after 8 years. But it can well be a tear down for the age of the house... 1.6 for a 0.7 acre lot? Not sure builders would jump in.

Welp, looks like someone/some developer thought it was worth it. It just went "Pending"

Omg… market is crazy

[Anonymous]

Anonymous wrote:This one is coming this weekend.

Looks nice.