Contemporary homes--is it a bad investment in this area?

[Anonymous]

We're thinking about buying a contemporary home in NOVA. But I've been looking at the RE market for awhile, and they just don't seem to be very popular in this area. I'm wondering if they're a bad investment because they'll be harder to sell or you won't get as much for it. They always seem to go for less $$ than similar sized colonials in the same neighborhood that are in similar condition.

[Anonymous]

In this area, they are much harder to move and are priced lower.

[Anonymous]

It's partly because people in NoVA ruin their contemporaries. They try to turn them into colonials; it's ridiculous. We wanted a contemporary when we were shopping but they all had these ridiculous country kitchens and brass candle fixtures and chair rails added ... it was a mess. A contemporary that didn't need a gut job would have been so nice to find. We ended up in a '20s craftsman that people hadn't ruined.

[Anonymous]

I love contemporaries but I think I'm in the minority in this region. Also, there seem to be very few new ones -- I guess most of them here are the product of a certain era? -- so it can be hard to find them in good shape as compared to the more popular styles.

My question for you: doesn't your purchase price also reflect the "discount" as compared to colonials? If so, I don't see the problem.

[Anonymous]

We bought a contemporary three years ago in a highly sought-after neighborhood in 20854 (MD). It took us three tries to get a house; we were outbid and using escalator clauses. Even then it was fiercely competitive to get one of these properties. I think it can be a good investment if the contemporary is grouped with like houses in a well-maintained development. We love our house and can't imagine living in a colonial.

[Anonymous]

Anonymous wrote:We bought a contemporary three years ago in a highly sought-after neighborhood in 20854 (MD). It took us three tries to get a house; we were outbid and using escalator clauses. Even then it was fiercely competitive to get one of these properties. I think it can be a good investment if the contemporary is grouped with like houses in a well-maintained development. We love our house and can't imagine living in a colonial.

One such development in NOVA is Hollin Hills--22306. The Charles Goodman homes are in gorgeous settings and true contemporaries. The houses aren't especially large, though.

[Anonymous]

Are these the weird roofline 70s homes?

[Anonymous]

I love contemporaries in my househunting over the last couple years I seem them go very quickly--within days--because they are desired and in low numbers. (I'm looking in MD.) I think it would be a great investment for that reason. Who doesn't like light?! Go for it and enjoy that open airy feeling that you don't get in boring, cramped, old-fashioned colonials. Yuck!

[Anonymous]

We bought a $2.5M contemporary, down from $2.9M. It sat for a while mostly cause at $3M shit takes a while to sell. But it'll sell again in the future, we aren't worried. It's very nicely done with massive 30ft high wall of glass off the back looking onto the river. Seven spacious bedrooms, six baths, and large open kitchen with nanna wall off the side onto balcony.

Go forth. You like it, buy it

[Anonymous]

Anonymous wrote:Are these the weird roofline 70s homes?

The Hollin Hills homes were built in the 1950s.

http://www.hollinhills.net/index.php/2011-03-31-04-10-05

[Anonymous]

Anonymous wrote:We bought a $2.5M contemporary, down from $2.9M. It sat for a while mostly cause at $3M shit takes a while to sell. But it'll sell again in the future, we aren't worried. It's very nicely done with massive 30ft high wall of glass off the back looking onto the river. Seven spacious bedrooms, six baths, and large open kitchen with nanna wall off the side onto balcony.

Go forth. You like it, buy it

I am pretty sure op may be referring to the older homes under a million. Sounds cool.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We bought a $2.5M contemporary, down from $2.9M. It sat for a while mostly cause at $3M shit takes a while to sell. But it'll sell again in the future, we aren't worried. It's very nicely done with massive 30ft high wall of glass off the back looking onto the river. Seven spacious bedrooms, six baths, and large open kitchen with nanna wall off the side onto balcony.

Go forth. You like it, buy it

I am pretty sure op may be referring to the older homes under a million. Sounds cool.

Fair enough. She didn't specify so I offered. I think they sell fine, just don't do shit like wrought iron staircases and wall to wall carpeting. If you do canned lights do 4" or less, not 6" cans. Etc.

[Anonymous]

Anonymous wrote:We bought a $2.5M contemporary, down from $2.9M. It sat for a while mostly cause at $3M shit takes a while to sell. But it'll sell again in the future, we aren't worried. It's very nicely done with massive 30ft high wall of glass off the back looking onto the river. Seven spacious bedrooms, six baths, and large open kitchen with nanna wall off the side onto balcony.

Go forth. You like it, buy it

If it's the one on MacAuthor, the guy that owned it torn down a fairly nice house built it and then moved (thanks). Another nice home torn down for what looks like a grade school. Riggins did the same thing in Cabin John and the neighbors call it John Riggins Elementary School.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We bought a $2.5M contemporary, down from $2.9M. It sat for a while mostly cause at $3M shit takes a while to sell. But it'll sell again in the future, we aren't worried. It's very nicely done with massive 30ft high wall of glass off the back looking onto the river. Seven spacious bedrooms, six baths, and large open kitchen with nanna wall off the side onto balcony.

Go forth. You like it, buy it

If it's the one on MacAuthor, the guy that owned it torn down a fairly nice house built it and then moved (thanks). Another nice home torn down for what looks like a grade school. Riggins did the same thing in Cabin John and the neighbors call it John Riggins Elementary School.

It's not.

[Anonymous]

They're not popular here, so yes they are typically priced lower than comparably sized traditional styles.