Do you think the Pimmit Hills area will eventually become upscale?

[Anonymous]

I'm thinking 10 years from now. I drove past the area yesterday and saw that a lot of houses had been torn down and huge houses built. About 8 years ago my husband was all about purchasing a cheap lot there, turn it down to build our dream home. I said no. I hated the idea of been the nicest house in the neighborhood, specially because we wanted a really big 4,500-5,500sf home. We ended in a nice neighborhood in Fairfax, where all the houses are similar, there is a nice pool, etc. Although he loves our house, my husband still thinks Pimmit H would have been a good investment. What do you think?

[Anonymous]

Probably not. The new builds are not very nice.

[Anonymous]

Anonymous wrote:Probably not. The new builds are not very nice.

I'm thinking eventually a developer is going to buy the houses in one of those dead end streets and build some nice ones. I think then we might begin to see more nice houses built in the area.

[Anonymous]

People tend to talk in extremes - positive and negative - about Pimmit Hills.

Had you bought and built in PH eight years ago, you'd have made out nicely (i.e., you'd have lots of equity in your home, assuming you didn't build a monstrosity). That doesn't mean someone who buys there today would necessarily see as much appreciation in a decade. People looking to make a quick buck have moved elsewhere.

PH is more likely to become expensive than it is to become "upscale," because the housing mix will remain all over the lot for many years to come. But some people care more about convenience and good schools than areas that scream "upscale."

[Anonymous]

Where's that Panda?

[Anonymous]

Probably not upscale but definitely more new builds than old homes than any close in neighborhood. When you say huge do you mean 5500SF including basement? I don't see that many in pimmit hills, more like 4500-5500SF including basement (3000-3500SF not including basement).

I personally think it's the best investment right now because other places like McLean, Arlington seem to be hitting a valuation ceiling.

[Anonymous]

It might become more expensive but it will remain vulgar.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Probably not. The new builds are not very nice.

I'm thinking eventually a developer is going to buy the houses in one of those dead end streets and build some nice ones. I think then we might begin to see more nice houses built in the area.

http://merion-homes.com/portfolio/pimmit-hills/

[Anonymous]

Anonymous wrote:It might become more expensive but it will remain vulgar.

Right cause no other area has larger new homes

[Anonymous]

Anonymous wrote:It might become more expensive but it will remain vulgar.

I live in McLean and I don't get this argument. Where I live there are many ramblers (although nicer than the original pimmit hills) next new builds. There aren't as many new builds per old build as pimmit hills but I don't see much difference in the new builds of the last 3-5 years.

One of the advantages of pimmit hills is that rather than trying to live in the older homes it's easier to just tear them down where are other areas have more livable original homes.

[Anonymous]

I love new houses, but the ones they're building in PH are seriously awful. And the remodels are even worse. We toured so many that were frankenstein houses. Garages that didn't connect inside the house (had to walk around even though they were physically connected).

[Anonymous]

Anonymous wrote:I love new houses, but the ones they're building in PH are seriously awful. And the remodels are even worse. We toured so many that were frankenstein houses. Garages that didn't connect inside the house (had to walk around even though they were physically connected).

Can you point out some of the new ones that are awful? I am very familiar with all of the newer homes in the area and they all seem to be your standard spec builder. As for the remodels there are some pretty bad ones but those aren't really on the market and are usually marketed as teardown.

[Anonymous]

Anonymous wrote:Probably not upscale but definitely more new builds than old homes than any close in neighborhood. When you say huge do you mean 5500SF including basement? I don't see that many in pimmit hills, more like 4500-5500SF including basement (3000-3500SF not including basement).

I personally think it's the best investment right now because other places like McLean, Arlington seem to be hitting a valuation ceiling.

PH has a valuation ceiling as well. It's just lower than in McLean and Arlington. A cheap teardown will sell fast, but homes priced over $900K take a long time to sell.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Probably not. The new builds are not very nice.

I'm thinking eventually a developer is going to buy the houses in one of those dead end streets and build some nice ones. I think then we might begin to see more nice houses built in the area.

http://merion-homes.com/portfolio/pimmit-hills/

These are 22 homes scattered around an area with (according to the neighborhood association) over 1,640 homes.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Probably not upscale but definitely more new builds than old homes than any close in neighborhood. When you say huge do you mean 5500SF including basement? I don't see that many in pimmit hills, more like 4500-5500SF including basement (3000-3500SF not including basement).

I personally think it's the best investment right now because other places like McLean, Arlington seem to be hitting a valuation ceiling.

PH has a valuation ceiling as well. It's just lower than in McLean and Arlington. A cheap teardown will sell fast, but homes priced over $900K take a long time to sell.

I don't think it's 900k it seems to be the issue, there are many sales in the 900-960 mark, it's anything over a million that takes longer to sell. There has been a shift as of the last few months that has increased the ceiling. I am curious what is going to happen this spring because my analysis based on ph and surounding areas say that there will be quite a few sales past the million barrier.