Big Builds in Bethesda Not Selling

[Anonymous]

The first one the builder paid too much for that dump. Now he's trying to recoup his losses.

[Anonymous]

Anonymous wrote:Because until this administration came along, Bethesda was in a building boom and it was a seller's market.

Now they're suffering from the economic downturn, like everyone else.

I live closer to downtown Bethesda, and I've seen the market softening in my neighborhood as well.

Meh. I remember when house hunting, that ugly new builds who used every square foot to maximize square footage were sitting around even when the market was hot. We opted for a smaller house with a yard over some larger cheaper options, because if you have kids, what's the point of having a house if there's no yard space to play?

[Anonymous]

Anonymous wrote:Amen! We should tax the hell out of new builds and their double air conditioning units as the world warms. Imagine doing something concrete rather than the performative BS we see from champagne socialists of Montgomery County.

Anonymous wrote:My Old town counted fit, finish, sq footage and age in assessment values.

A new build paid double per sq foot than an older build. Plus new builds usually more sq footage and higher build quality.

Property taxes my old area used to be like 7.5k for a split level house from 1950s with no central air and 1,500 sf.

My neighbor up block tore down old 1,500 sf house in original condition and built a 3,000 sf high end mansion. Taxes of course based on size moved from $7,500 to $15,000 then taxed at double as new built so $30,000 then he put a pull in finished basement, central Air, deck and higher end materials so another 6K.

He is now paying $36,000 property tax vs. $7,500. We had extremely few tear downs and new homes. I say 99 percent of 1950s homes are as is when built. Which leaves tons of nice starter homes or empty nestor affordable homes.

Folks can move to towns where big new homes exist. It left my town a family friendly popular town for newly weds, blue collar people, empty nestors. I did trade up after 20 years adn moved. Why, well if I tore down and moved that 36K taxes would make my house very hard to sell plus I did not want to pay them.

Bethesda should do this. Tax the hell out of new builds.

We moved from a 194's colonial to a new build. Way more efficient systems.
3x the size of old house, heat and electric use barely more than 1x. Try again.

(p.s. I already overpay in taxes to this state and piggyback county, you are welcome for the services!!)

[Anonymous]

Anonymous wrote:Oneida for $2.8m would be the second highest sale price on record for a house on less than half acre in Walter Johnson.

Yes, that is what happens with school clusters that are far too large and land that is super valuable, inside the beltway.

$2.45M just down the street on Sonoma. Many sold homes within a few blocks that are >$2.5M. School cluster does not matter as much (as neighborhood and location do) when private school cost is a rounding error in that income bracket.

[Anonymous]

I’ve lived in that neighborhood 15 years. Everyone thinks the developers over shot the market. Slightly smaller and more in the 1.5 to 2M range would have sold.

Also I don’t know what’s going on with the front yard for that first one but my dog is freakin obsessed with it. I think every animal is peeing all over it or something. I have to drag him away every night.

Also I think they are both ugly. There are some tear downs in the neighborhood that are so nice — there’s one ion Grant that is very big but so nice looking. These are expensive but look cheap.