Million dollar teardown in McLean

[Anonymous]

Wow, probably due to the land?
"great location, live in it or demolish and build a new house. new homes nearby priced $3.5 million plus. Also listed as Land, see Fx8215652. "

http://www.redfin.com/VA/Mc-Lean/1154-Spring-Hill-Rd-22102/home/9264232

[Anonymous]

Generally, that is the going rate for tear downs in McLean if the neighborhood does not partner with "less desirable" areas. Since you asked.

This is precisely why posters comment that add ons are simply not worth it, to the dismay of those who can barely afford McLean (and the like).

Knock downs are now the norm in these neighborhoods. Consequently, the taxes will inevitably go up. There is no avoiding change and progress. It is simply the way it is.

It is best to reside where you can afford. It is not rocket science.

[Anonymous]

Anonymous wrote:Generally, that is the going rate for tear downs in McLean if the neighborhood does not partner with "less desirable" areas. Since you asked.

This is precisely why posters comment that add ons are simply not worth it, to the dismay of those who can barely afford McLean (and the like).

Knock downs are now the norm in these neighborhoods. Consequently, the taxes will inevitably go up. There is no avoiding change and progress. It is simply the way it is.

It is best to reside where you can afford. It is not rocket science.

Well how come this 5000 SF house down the road sold for 1.1 million

http://arbourrealty.com/idx/mls-fx8037299-1077_spring_hill_rd_mclean_va_22102

[Anonymous]

Anonymous wrote:Wow, probably due to the land?
"great location, live in it or demolish and build a new house. new homes nearby priced $3.5 million plus. Also listed as Land, see Fx8215652. "

http://www.redfin.com/VA/Mc-Lean/1154-Spring-Hill-Rd-22102/home/9264232

If it sold for that price that would be one thing. I think you need to see what it actually sells for.

[Anonymous]

Spring Hill is a pretty busy road. The first house? It seems to be a dump. And as one poster stated, they are asking $989K-it didn't sell there. If it was a steal at $989K, as a knock-down, several different builders would've scooped it up already. The 2nd house seems much more livable, IMO.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Generally, that is the going rate for tear downs in McLean if the neighborhood does not partner with "less desirable" areas. Since you asked.

This is precisely why posters comment that add ons are simply not worth it, to the dismay of those who can barely afford McLean (and the like).

Knock downs are now the norm in these neighborhoods. Consequently, the taxes will inevitably go up. There is no avoiding change and progress. It is simply the way it is.

It is best to reside where you can afford. It is not rocket science.

Well how come this 5000 SF house down the road sold for 1.1 million

http://arbourrealty.com/idx/mls-fx8037299-1077_spring_hill_rd_mclean_va_22102

I don't understand your question. Either you are looking for a tear down in that price range, or you are not. If you choose to live in it, don't expect to win a polarity contest in your neighborhood. amongst the knock down neighbors, anytime soon.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Generally, that is the going rate for tear downs in McLean if the neighborhood does not partner with "less desirable" areas. Since you asked.

This is precisely why posters comment that add ons are simply not worth it, to the dismay of those who can barely afford McLean (and the like).

Knock downs are now the norm in these neighborhoods. Consequently, the taxes will inevitably go up. There is no avoiding change and progress. It is simply the way it is.

It is best to reside where you can afford. It is not rocket science.

Well how come this 5000 SF house down the road sold for 1.1 million

http://arbourrealty.com/idx/mls-fx8037299-1077_spring_hill_rd_mclean_va_22102

I don't understand your question. Either you are looking for a tear down in that price range, or you are not. If you choose to live in it, don't expect to win a polarity contest in your neighborhood. amongst the knock down neighbors, anytime soon.

You said that a million is the going rate for teardowns in this "desirable area"

I don't think this is that desirable a busy two lane road.

Why would a 5000 SF House (which is not a teardown) sell for 1.1 million in May and a teardown go for 1 million?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Generally, that is the going rate for tear downs in McLean if the neighborhood does not partner with "less desirable" areas. Since you asked.

This is precisely why posters comment that add ons are simply not worth it, to the dismay of those who can barely afford McLean (and the like).

Knock downs are now the norm in these neighborhoods. Consequently, the taxes will inevitably go up. There is no avoiding change and progress. It is simply the way it is.

It is best to reside where you can afford. It is not rocket science.

Well how come this 5000 SF house down the road sold for 1.1 million

http://arbourrealty.com/idx/mls-fx8037299-1077_spring_hill_rd_mclean_va_22102

I don't understand your question. Either you are looking for a tear down in that price range, or you are not. If you choose to live in it, don't expect to win a polarity contest in your neighborhood. amongst the knock down neighbors, anytime soon.

You said that a million is the going rate for teardowns in this "desirable area"

I don't think this is that desirable a busy two lane road.

Why would a 5000 SF House (which is not a teardown) sell for 1.1 million in May and a teardown go for 1 million?

To add, the 5000 SF house is off the main road in a cul de sac so I was assume that it would be more valuable.

[Anonymous]

The 5000 SF house has 30% less land.

[Anonymous]

To add, you can probably build 2 houses on that $1M lot.

[Anonymous]

Anonymous wrote:The 5000 SF house has 30% less land.

True but when you are on a main road you need to be set back further.

[Anonymous]

Anonymous wrote:To add, you can probably build 2 houses on that $1M lot.

No you cannot because it is R-1(Residential 1 DU/AC)
The lot is .75 acres = 32,670 sq. ft.

Which means:
Minimum lot area
A. Conventional subdivision lot: 36,000 sq. ft.
B. Cluster subdivision lot: 25,000 sq. ft.

[Anonymous]

Anonymous wrote:Generally, that is the going rate for tear downs in McLean if the neighborhood does not partner with "less desirable" areas. Since you asked.

This is precisely why posters comment that add ons are simply not worth it, to the dismay of those who can barely afford McLean (and the like).

Knock downs are now the norm in these neighborhoods. Consequently, the taxes will inevitably go up. There is no avoiding change and progress. It is simply the way it is.

It is best to reside where you can afford. It is not rocket science.

I've been looking for a while, and that one seems overpriced to me. (Though I've mostly been looking at Potomac)

[Anonymous]

Million dollar tear downs happen all over this area-- not just McLean. We have 2 happening right next to me now. Ugh!

[Anonymous]

We bought a teardown in mclean for $1.2M. The home had almost 4000sqft, 3 car garage, all brick, was actually a pretty nice home.

Since then three other neighbor homes have been sold for about $1.1-$1.2M and torn down as well. Huge >$3M homes are going up.

Happens all the time in this area.