MoCo Real Estate for the Naysayers

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Inside the beltway MoCo is still a hot market. But Potomac McMansions? Desperation will set in as retirees leave the region and MoCo's stagnant economy fails to attract new jobs.

Is there a moat with sea monsters between Potomac and DC? I’ve heard there are lots of jobs there...

There are no jobs in Potomac, no jobs in Bethesda, no jobs anywhere in MoCo. That's the point. In-beltway MoCo will do okay because the commutes into DC/VA, where there are jobs, are reasonable. But up 270 or in Potomac? Good luck.

I will let everyone in my Bethesda office know. Thanks!

Yes, same here. Last I checked, I went to Bethesda to work today. And so did hundreds of other people in our company, many of whom live in VA. And this morning , my husband drove to his job in Rockville. Weird.

Very weird. What is it like to live in a mass delusion where you people all pretend you have jobs?

[Anonymous]

Top sellers market by county:
1. Contra Costa, CA
2. Sacramento, CA
3. Loudoun, VA
4. Pinellas, FL
5. Montgomery County, MD
6.San Luis Obispo, CA
7. Placer, CA
8. Boulder, CO
9.Riverside, CA
10. Broward, FL

The sky is falling! MoCo is turning into Detroit!!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Inside the beltway MoCo is still a hot market. But Potomac McMansions? Desperation will set in as retirees leave the region and MoCo's stagnant economy fails to attract new jobs.

Is there a moat with sea monsters between Potomac and DC? I’ve heard there are lots of jobs there...

There are no jobs in Potomac, no jobs in Bethesda, no jobs anywhere in MoCo. That's the point. In-beltway MoCo will do okay because the commutes into DC/VA, where there are jobs, are reasonable. But up 270 or in Potomac? Good luck.

I will let everyone in my Bethesda office know. Thanks!

Yes, same here. Last I checked, I went to Bethesda to work today. And so did hundreds of other people in our company, many of whom live in VA. And this morning , my husband drove to his job in Rockville. Weird.

Very weird. What is it like to live in a mass delusion where you people all pretend you have jobs?

Sorry babe. No need to pretend unlike you. If it makes you happy to think that way, then carry on.

[Anonymous]

Paul Ryan just moved to MoCo so that is a plus. Did not pick DC or VA to live in. Moved whole family.

[Anonymous]

Anonymous wrote:I am normally very impressed with MoCo real estate. Last summer 4 houses close to mine(one next to mine) sold the same day or while they were "coming soon," and for more money. Outside of beltway. This summer, not so much. One house has been sitting on the market since May, and now they lowered the price by almost 50K, the other one is sitting and I get why, they overpriced ti by at least 45K. The other houses in nearby subdivisions, are also taking longer to sell. There is a huge house with 3 acres that is selling for 740K, except it is not selling at all. So, maybe haters of MoCo from NoVa are right, at least for this year.

Well, I'm in Kensington and this spring/summer houses have been selling same day for over asking. So.

[Anonymous]

Anonymous wrote:Paul Ryan just moved to MoCo so that is a plus. Did not pick DC or VA to live in. Moved whole family.

Whereabouts?

[Anonymous]

I work in Bethesda, I bought in Potomac. I did not want to buy in VA just to save on taxes and then deal with horrible commute. I live close in so getting to DC no big deal if I had to switch jobs. I am not an IT worker on a Visa so no jobs in VA for me

[Anonymous]

Anonymous wrote:

Anonymous wrote:Paul Ryan just moved to MoCo so that is a plus. Did not pick DC or VA to live in. Moved whole family.

Whereabouts?

Press reported close in Maryland Surburb near DC. So that is MoCo

[Anonymous]

Anonymous wrote:

Anonymous wrote:I am normally very impressed with MoCo real estate. Last summer 4 houses close to mine(one next to mine) sold the same day or while they were "coming soon," and for more money. Outside of beltway. This summer, not so much. One house has been sitting on the market since May, and now they lowered the price by almost 50K, the other one is sitting and I get why, they overpriced ti by at least 45K. The other houses in nearby subdivisions, are also taking longer to sell. There is a huge house with 3 acres that is selling for 740K, except it is not selling at all. So, maybe haters of MoCo from NoVa are right, at least for this year.

Well, I'm in Kensington and this spring/summer houses have been selling same day for over asking. So.

I am not saying all of MoCo is selling poorly, I don't know that information personally, just that even new construction last spring and summer sold practically in a month, and now it is much slower where I am. Plus Kensington is very picturesque neighborhood, we are more plain suburbia.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Inside the beltway MoCo is still a hot market. But Potomac McMansions? Desperation will set in as retirees leave the region and MoCo's stagnant economy fails to attract new jobs.

Is there a moat with sea monsters between Potomac and DC? I’ve heard there are lots of jobs there...

There are no jobs in Potomac, no jobs in Bethesda, no jobs anywhere in MoCo. That's the point. In-beltway MoCo will do okay because the commutes into DC/VA, where there are jobs, are reasonable. But up 270 or in Potomac? Good luck.

I will let everyone in my Bethesda office know. Thanks!

Yes, same here. Last I checked, I went to Bethesda to work today. And so did hundreds of other people in our company, many of whom live in VA. And this morning , my husband drove to his job in Rockville. Weird.

Very weird. What is it like to live in a mass delusion where you people all pretend you have jobs?

NP. I don't know... it feels so real. Here I am at my desk in Rockville. It really feels like I got in my car and drove 12 minutes. I can smell the coffee and faintly hear one of the partners talking on the phone in his office. But I'm probably hallucinating while sitting in two-hour-long traffic to my job downtown... (or maybe it's actually in Reston).

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Inside the beltway MoCo is still a hot market. But Potomac McMansions? Desperation will set in as retirees leave the region and MoCo's stagnant economy fails to attract new jobs.

Is there a moat with sea monsters between Potomac and DC? I’ve heard there are lots of jobs there...

There are no jobs in Potomac, no jobs in Bethesda, no jobs anywhere in MoCo. That's the point. In-beltway MoCo will do okay because the commutes into DC/VA, where there are jobs, are reasonable. But up 270 or in Potomac? Good luck.

I will let everyone in my Bethesda office know. Thanks!

Yes, same here. Last I checked, I went to Bethesda to work today. And so did hundreds of other people in our company, many of whom live in VA. And this morning , my husband drove to his job in Rockville. Weird.

Very weird. What is it like to live in a mass delusion where you people all pretend you have jobs?

In the past 15 years, I've had a 10-15 min commute living and working in MoCo (close to Gaithersburg - gasp!). Work in the biotech industry where there are loads of jobs up 270 corridor and yes, it pays well!
NP. I don't know... it feels so real. Here I am at my desk in Rockville. It really feels like I got in my car and drove 12 minutes. I can smell the coffee and faintly hear one of the partners talking on the phone in his office. But I'm probably hallucinating while sitting in two-hour-long traffic to my job downtown... (or maybe it's actually in Reston).

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Inside the beltway MoCo is still a hot market. But Potomac McMansions? Desperation will set in as retirees leave the region and MoCo's stagnant economy fails to attract new jobs.

Is there a moat with sea monsters between Potomac and DC? I’ve heard there are lots of jobs there...

There are no jobs in Potomac, no jobs in Bethesda, no jobs anywhere in MoCo. That's the point. In-beltway MoCo will do okay because the commutes into DC/VA, where there are jobs, are reasonable. But up 270 or in Potomac? Good luck.

I will let everyone in my Bethesda office know. Thanks!

Yes, same here. Last I checked, I went to Bethesda to work today. And so did hundreds of other people in our company, many of whom live in VA. And this morning , my husband drove to his job in Rockville. Weird.

Very weird. What is it like to live in a mass delusion where you people all pretend you have jobs?

NP. I don't know... it feels so real. Here I am at my desk in Rockville. It really feels like I got in my car and drove 12 minutes. I can smell the coffee and faintly hear one of the partners talking on the phone in his office. But I'm probably hallucinating while sitting in two-hour-long traffic to my job downtown... (or maybe it's actually in Reston).

In the past 15 years, I've had a 10-15 min commute living and working in MoCo (close to Gaithersburg - gasp!). Work in the biotech industry where there are loads of jobs up 270 corridor and yes, it pays well!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am normally very impressed with MoCo real estate. Last summer 4 houses close to mine(one next to mine) sold the same day or while they were "coming soon," and for more money. Outside of beltway. This summer, not so much. One house has been sitting on the market since May, and now they lowered the price by almost 50K, the other one is sitting and I get why, they overpriced ti by at least 45K. The other houses in nearby subdivisions, are also taking longer to sell. There is a huge house with 3 acres that is selling for 740K, except it is not selling at all. So, maybe haters of MoCo from NoVa are right, at least for this year.

Well, I'm in Kensington and this spring/summer houses have been selling same day for over asking. So.

I am not saying all of MoCo is selling poorly, I don't know that information personally, just that even new construction last spring and summer sold practically in a month, and now it is much slower where I am. Plus Kensington is very picturesque neighborhood, we are more plain suburbia.

Kensington is still very underrated and undervalued. You can get a 2,000 sq ft home for less than $850,000 near multiple parks and within 1/2 from a MARC station that takes 20 minutes to DC in a 9/10 school district. You’d easily pay $1.25M for the same mix of walkability, schools and short commute in DC. The market is catching up and homes are flying off the market if they’re priced appropriately. It’s going to get even more expensive once the Purple Line comes in. A home like this is a steal long term:

https://www.redfin.com/MD/Kensington/3901-Saul-Rd-20895/home/10956900

[Anonymous]

I am normally very impressed with MoCo real estate. Last summer 4 houses close to mine(one next to mine) sold the same day or while they were "coming soon," and for more money. Outside of beltway. This summer, not so much. One house has been sitting on the market since May, and now they lowered the price by almost 50K, the other one is sitting and I get why, they overpriced ti by at least 45K. The other houses in nearby subdivisions, are also taking longer to sell. There is a huge house with 3 acres that is selling for 740K, except it is not selling at all. So, maybe haters of MoCo from NoVa are right, at least for this year.

This X100. Plus the GCAR data in May showed sales were down. So yeah after the low spring sales, price drops and delistings, July will look like it had higher sales than LAST July and that inventory dropped. The inventory drop is just people delisting that didn't sell. I hate how realtors present and cherry pick data to pump up a market. So gross and sleazy.

The house down the street from us sold for 1.2 M. The sellers had been trying to sell it since 2017. They bought it in 2003 for 1.4 M and sunk $$$ updating it. This is happening to all the large houses over 1M whether they are updated or not. However, a 1.2M house will raise the median sales price without revealing that it was a major loss in property value for the seller.

The only houses that I see moving quickly are ones in the low 800s-700s in good school districts or ones in mediocre school districts 600 or under.

[Anonymous]

reggie14 wrote:I've never understood the MoCo haters here. It's obviously a desirable place for many to live- including many well-off people.

The housing market in MoCo is a bit weird. Decent homes tend to sell very quickly, yet prices in many parts of the county have stagnated.

I may have been called a hater. It's because the County has changed so much - more traffic, less policing, higher taxes, fewer parks and rec services, etc. Objectively comparing it to other areas, it's great. It's just a mourning from those getting older who remember it when. The change in just the past 12 years is appalling, but I think that is the same in other desirable areas with large growth.