Dying market in Potomac

[Anonymous]

Anonymous wrote:

Anonymous wrote:People with money are getting out of here.

People with money live in Woodland-Normanstone or Kalorama, not Potomac.

You're clueless

[Anonymous]

Anonymous wrote:

Anonymous wrote:Potomac was one of the places to be in this area maybe for my parent's generation. But now, more millenials prefer the urban setting with proximity to metro over the McMansions and the large plot of land.

I would disagree - I grew up here & Potomac has never been a place to be. It was always for people who couldn’t afford cc or even Bethesda. As the traffic has gotten worse, it has gotten even less desirable. The only people I ever knew who aimed to live there were people into horses who wanted to ride regularly.

You must be young and/or have no idea of what you're talking about.
And I have been living in Bethesda for over 35 years.

[Anonymous]

Commutes into DC aren’t great, but not everyone works in DC. There are plenty of jobs in Bethesda, Rockville, and Tyson’s that are good commutes from Potomac.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:People with money are getting out of here.

People with money live in Woodland-Normanstone or Kalorama, not Potomac.

You're clueless

For real. My neighborhood includes a Marriott, a co-founder of Total Wine, the former Speaker of the House and now very well paid lobbyist/board member etc., a former White House counsel and now biglaw partner, a retired Redskin, the CEO of a major government contracting firm, among others. There is serious money in Potomac.

[Anonymous]

Anonymous wrote:So houses in Potomac are actually moving very fast and much faster due to the pandemicr than they have in the past few years. The problem in MOCO wealthy areas is that there has been inventory sitting out when it doesn't sell for high as people wanted. MOCO property tax assessment is substantially higher than the market value. People who bought back in 2005-2007 never believed that their house value dropped 200K and never challenged their assessment. Many that went on the market delisted and the owners decided to wait it out. Now that things are selling they are all jumping to sell with prices back up but the increased inventory is holding back what they can get.

Potomac doesn't really compete with Bethesda. these are very different markets. It competes with Northern VA -McLean. MOCO has been losing badly to NOVA as all the higher paying jobs are located in NOVA. Potomac does a little better when the school boundary talk comes up because families who want a good school and to pay a little less who were considering Wootton get spooked and move into Churchill boundaries instead.

The other drawback with Potomac is that most of the residents who are selling bought their house 15-20 years ago and updated based on what was current back then. They are selling now and at Potomac price points you are looking at buyers who don't want to live in a dated house. This isn't Silver Spring where something can be incredibly ugly and tacky but the buyer will say its charming because they are simply grateful to find something they could afford. This also isn't a buyer population that is OK loving in something dated for several years. In the pandemic no one wants a remodel/complete re-decorating going on so its easier to buy a tear down and build new.

Nope they don't. McLean is new money from IT sweatshop.

[Anonymous]

Anonymous wrote:Mansions are not moving in the Potomac Village area even after repeated price reductions and some approach their price levels several years back. It is an area with shopping, library banks etc and not particularly remote. Any ideas?

https://www.redfin.com/MD/Rockville/10001-Gary-Rd-20854/home/10911971

https://www.redfin.com/MD/Rockville/10107-Gary-Rd-20854/home/10888099

https://www.redfin.com/MD/Rockville/10217-Holly-Hill-Pl-20854/home/10920224

https://www.redfin.com/MD/Potomac/10100-Gary-Rd-20854/home/10888011

Huh???
Only 4 and one of them has been on the market for only 10 days , and you call that dying market?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Mansions are not moving in the Potomac Village area even after repeated price reductions and some approach their price levels several years back. It is an area with shopping, library banks etc and not particularly remote. Any ideas?

https://www.redfin.com/MD/Rockville/10001-Gary-Rd-20854/home/10911971

https://www.redfin.com/MD/Rockville/10107-Gary-Rd-20854/home/10888099

https://www.redfin.com/MD/Rockville/10217-Holly-Hill-Pl-20854/home/10920224

https://www.redfin.com/MD/Potomac/10100-Gary-Rd-20854/home/10888011

Huh???
Only 4 and one of them has been on the market for only 10 days , and you call that dying market?

Welcome to the rabbit hole that is DCUM

[Anonymous]

To the trolls posting nonsense re Potomac, look at the facts. There are 68 homes priced over $1 million currently under contract or pending. That only happens if people want to buy those homes. And that is right at this moment, not even the stats for the total year to date.

Again, 68 homes under contract or pending at over $1 million just in Potomac right now.

For giggles I checked Bethesda, 89 homes over $1 million same status, though Bethesda has 65,000 residents compared to Potomac 44,000.

Facts are a PITA.

[Anonymous]

Anonymous wrote:I live a few blocks from there.

I had several family’s move near me in last year from Bethesda/DC. They needed more space as kids older and wanted Churchill. I only moved here in 2018 from “close in” but I had an 18, 16 and 11 year old at time. They are far beyond the stroller and park stage. And my wife is far past hang out with new Moms phase.

I work from home. I actually technically have a 7 bedroom house. Two are basement guest bedrooms. But home office wise is great. I literally had a 1,600 square foot house close in with a one car driveway! Was no longer practical

Also it is not generational it is age. The majority of parents on my block who moved in with kids are in there 50s. Been there don’t that close in. And the hipster parents in there 30s pushing their kid in a stroller come 55 when you have three kids 15-20 and five cars it won’t be fun anymore

When I’m 55 my youngest will be just out of college and I’ll be enjoying my cute row house that’s walkable to everything. If you live in DC, your teens don’t need cars. It’s just a totally different way of living.

[Anonymous]

At least 90% of the posts on this forum are a variation of “don’t/do live there because it’s not/it is my neighborhood and my lifestyle is the bestest.” The narcissism is hilarious.

[Anonymous]

I thought that stock trader OP was going to buy that second home? Guess DCUM talked him out of it.

[Anonymous]

Anonymous wrote:At least 90% of the posts on this forum are a variation of “don’t/do live there because it’s not/it is my neighborhood and my lifestyle is the bestest.” The narcissism is hilarious.

Right? Different strokes . . .

[Anonymous]

On the average Sunday in DC The bike riders from DC are clogging up river road and falls road, the billy goat trail is full of DC hikers, the glen stone village has a parade of DC plates and in the village DC plates stopping off for lunch.

On weekdays the private schools (I live next to Bullis have a parade of (DC cars pick up and drop off) and the Embasy owned houses DC plates come in.

One new neighbor who works in DC hated the DC commute. Why he had a kid in private school in Bethesda and one in Potomac. So he had to drive here every day and all games and a lot of play dates here. He moved as easier to commute.

In regards to money my daughter was suprised when kids at Churchill were touring NYU or Columbia the amount of parents who own condos there they stayed at and amount of folks who have investment properties in DC and At beach. So at high end it is not Potomac vs DC. It is Potomac and DC and NYC and Florida and La

Jackie Stallone died last week a long time Potomac resident. But she actually died in LA at another house she owns.

[Anonymous]

Nonsense smack talk about Potomac aside, the Potomac RE market was weak until the pandemic came along, no?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:All those houses are walkable. In particular Gary drive is a five minute walk brand new Potomac Elementary and five minute walk to village. Bank, post office, library, two supermarkets and several restaurants. And river road has a great sidewalk.

The one on Holly Hill is super nice and a cul de sac.

Walkable these house are 100 percent.

What are you smoking. Most of the homes there don't have sidewalks. I live not that far from there, and drive through it to get to a camp my kids were going to over previous summers.

River road has a sidewalk. The one house is literally river road and Gary.

River road from Bradley to River falls has a sidewalk on one side

lol.. "the one house".. ok.

Again, most of the area does not have a sidewalk. Only parts of River Rd has a sidewalk.

Again, I have driven through that area extensively. Even Falls Rd has no sidewalk as soon as you hit the Potomac side, and there are buses along that route. People who take the bus on Falls rd have to walk along the road to get to the bus stop.

Oh, how silly of me.. only the house help take the buses in Potomac so who cares if there are no sidewalks there.