how's real estate market now with all the school boundary rezone?

[Anonymous]

Anonymous wrote:Who would want to pay full price in the neighborhood zoned to a school 8 miles away with 70% graduation rate? If you can go across the street and get into much better ranked boundary? I am all for diversity and inclusion, but aren't schools the main factor driving real estate prices in Bethesda, Rockville etc?

I fear 25% drop in prices if not more. I just can't imagine potential buyers. Empty nesters? Families with kids in privates?

+1

Even RM will be a better option. I am not sure about 25% straight drop in price but a big drop will happen with time for sure. Old Farm / North Farm housing is not cheap and with the same price range you can find many drastically better schools near by. Any buyer will surely discount the price and won't pay full price if altearnative looks much better.

Our friends in Wayside were sharing that one family is trying to quickly list before it gets shifted to Wootton. They are empty nesters and don't even spend that much time here. There is a small premium for houses in Churchill, but I was surprised given very little gap between Churchill and Wootton.

[Anonymous]

Anonymous wrote:Who would want to pay full price in the neighborhood zoned to a school 8 miles away with 70% graduation rate? If you can go across the street and get into much better ranked boundary? I am all for diversity and inclusion, but aren't schools the main factor driving real estate prices in Bethesda, Rockville etc?

I fear 25% drop in prices if not more. I just can't imagine potential buyers. Empty nesters? Families with kids in privates?

I am not sure how many buyers fit in that category. It may become hard to even sell if option 3 gets chosen.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We are in North Farm, currently zoned to Farmland ES > Tilden MS > WJ but one of the proposed options (#3) will have our kids going to Kennedy HS. Very long bus drive. My youngest is old enough that it will not affect her. She will be able to finish WJ. My main concern is the real estate prices, since we bought recently, and if it is a dramatic drop it will put us under water. Anyone else in the same boundary? How much do you think the prices will go down? I am almost considering selling it now just in case.

It's not going to be a dramatic drop. Look at King Farm. The parts zoned for Gaithersburg HS are pretty similar in price to those zoned for Richard Montgomery.

Nah, on average - there is difference in prices when it comes to exact same houses. I live in the area.

How big of a difference? Similar does not mean identical and they are similar.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We are in North Farm, currently zoned to Farmland ES > Tilden MS > WJ but one of the proposed options (#3) will have our kids going to Kennedy HS. Very long bus drive. My youngest is old enough that it will not affect her. She will be able to finish WJ. My main concern is the real estate prices, since we bought recently, and if it is a dramatic drop it will put us under water. Anyone else in the same boundary? How much do you think the prices will go down? I am almost considering selling it now just in case.

It's not going to be a dramatic drop. Look at King Farm. The parts zoned for Gaithersburg HS are pretty similar in price to those zoned for Richard Montgomery.

Nah, on average - there is difference in prices when it comes to exact same houses. I live in the area.

How big of a difference? Similar does not mean identical and they are similar.

I live in RM cluster. I would say Wootton goes for 10-15% premium for similar houses compared to RM cluster. Saying that based on when we were looking to buy. We picked RM for various reasons but that's my recollection.

[Anonymous]

When is the zoning supposed to be decided?

[Anonymous]

Anonymous wrote:When is the zoning supposed to be decided?

By Feb Next year.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Who would want to pay full price in the neighborhood zoned to a school 8 miles away with 70% graduation rate? If you can go across the street and get into much better ranked boundary? I am all for diversity and inclusion, but aren't schools the main factor driving real estate prices in Bethesda, Rockville etc?

I fear 25% drop in prices if not more. I just can't imagine potential buyers. Empty nesters? Families with kids in privates?

+1

Even RM will be a better option. I am not sure about 25% straight drop in price but a big drop will happen with time for sure. Old Farm / North Farm housing is not cheap and with the same price range you can find many drastically better schools near by. Any buyer will surely discount the price and won't pay full price if altearnative looks much better.

Our friends in Wayside were sharing that one family is trying to quickly list before it gets shifted to Wootton. They are empty nesters and don't even spend that much time here. There is a small premium for houses in Churchill, but I was surprised given very little gap between Churchill and Wootton.

The Wayside owner is overreacting. We were considering Churchill and Wootton equally when buying last year, bought in Wootton.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Who would want to pay full price in the neighborhood zoned to a school 8 miles away with 70% graduation rate? If you can go across the street and get into much better ranked boundary? I am all for diversity and inclusion, but aren't schools the main factor driving real estate prices in Bethesda, Rockville etc?

I fear 25% drop in prices if not more. I just can't imagine potential buyers. Empty nesters? Families with kids in privates?

I am not sure how many buyers fit in that category. It may become hard to even sell if option 3 gets chosen.

We were considering Old Farm/North Farm last year and many of the buyers seemed to be older folks downsizing. Maybe this will change if the prices drop.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Who would want to pay full price in the neighborhood zoned to a school 8 miles away with 70% graduation rate? If you can go across the street and get into much better ranked boundary? I am all for diversity and inclusion, but aren't schools the main factor driving real estate prices in Bethesda, Rockville etc?

I fear 25% drop in prices if not more. I just can't imagine potential buyers. Empty nesters? Families with kids in privates?

I am not sure how many buyers fit in that category. It may become hard to even sell if option 3 gets chosen.

We were considering Old Farm/North Farm last year and many of the buyers seemed to be older folks downsizing. Maybe this will change if the prices drop.

I meant sellers not buyers.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Who would want to pay full price in the neighborhood zoned to a school 8 miles away with 70% graduation rate? If you can go across the street and get into much better ranked boundary? I am all for diversity and inclusion, but aren't schools the main factor driving real estate prices in Bethesda, Rockville etc?

I fear 25% drop in prices if not more. I just can't imagine potential buyers. Empty nesters? Families with kids in privates?

+1

Even RM will be a better option. I am not sure about 25% straight drop in price but a big drop will happen with time for sure. Old Farm / North Farm housing is not cheap and with the same price range you can find many drastically better schools near by. Any buyer will surely discount the price and won't pay full price if altearnative looks much better.

Our friends in Wayside were sharing that one family is trying to quickly list before it gets shifted to Wootton. They are empty nesters and don't even spend that much time here. There is a small premium for houses in Churchill, but I was surprised given very little gap between Churchill and Wootton.

The Wayside owner is overreacting. We were considering Churchill and Wootton equally when buying last year, bought in Wootton.

That's my impression as well based on when we were looking to buy. We bought in RM, but we did not see much difference between Churchill and Wootton.

[Anonymous]

Wootton and Kennedy are not comparable. Plus, ridiculously long bus rides.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We are in North Farm, currently zoned to Farmland ES > Tilden MS > WJ but one of the proposed options (#3) will have our kids going to Kennedy HS. Very long bus drive. My youngest is old enough that it will not affect her. She will be able to finish WJ. My main concern is the real estate prices, since we bought recently, and if it is a dramatic drop it will put us under water. Anyone else in the same boundary? How much do you think the prices will go down? I am almost considering selling it now just in case.

It's not going to be a dramatic drop. Look at King Farm. The parts zoned for Gaithersburg HS are pretty similar in price to those zoned for Richard Montgomery.

Nah, on average - there is difference in prices when it comes to exact same houses. I live in the area.

How big of a difference? Similar does not mean identical and they are similar.

I live in RM cluster. I would say Wootton goes for 10-15% premium for similar houses compared to RM cluster. Saying that based on when we were looking to buy. We picked RM for various reasons but that's my recollection.

So not in King Farm. I mentioned King Farm because you can actually compare very similar houses that are very close to each other geographically.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We are in North Farm, currently zoned to Farmland ES > Tilden MS > WJ but one of the proposed options (#3) will have our kids going to Kennedy HS. Very long bus drive. My youngest is old enough that it will not affect her. She will be able to finish WJ. My main concern is the real estate prices, since we bought recently, and if it is a dramatic drop it will put us under water. Anyone else in the same boundary? How much do you think the prices will go down? I am almost considering selling it now just in case.

It's not going to be a dramatic drop. Look at King Farm. The parts zoned for Gaithersburg HS are pretty similar in price to those zoned for Richard Montgomery.

Nah, on average - there is difference in prices when it comes to exact same houses. I live in the area.

How big of a difference? Similar does not mean identical and they are similar.

I live in RM cluster. I would say Wootton goes for 10-15% premium for similar houses compared to RM cluster. Saying that based on when we were looking to buy. We picked RM for various reasons but that's my recollection.

So not in King Farm. I mentioned King Farm because you can actually compare very similar houses that are very close to each other geographically.

If you think Gaitherburg high school and RM high school have the same price for housing when other things are equal then I have a bridge to sell you.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We are in North Farm, currently zoned to Farmland ES > Tilden MS > WJ but one of the proposed options (#3) will have our kids going to Kennedy HS. Very long bus drive. My youngest is old enough that it will not affect her. She will be able to finish WJ. My main concern is the real estate prices, since we bought recently, and if it is a dramatic drop it will put us under water. Anyone else in the same boundary? How much do you think the prices will go down? I am almost considering selling it now just in case.

It's not going to be a dramatic drop. Look at King Farm. The parts zoned for Gaithersburg HS are pretty similar in price to those zoned for Richard Montgomery.

Nah, on average - there is difference in prices when it comes to exact same houses. I live in the area.

How big of a difference? Similar does not mean identical and they are similar.

I live in RM cluster. I would say Wootton goes for 10-15% premium for similar houses compared to RM cluster. Saying that based on when we were looking to buy. We picked RM for various reasons but that's my recollection.

So not in King Farm. I mentioned King Farm because you can actually compare very similar houses that are very close to each other geographically.

If you think Gaitherburg high school and RM high school have the same price for housing when other things are equal then I have a bridge to sell you.

prices look very similar to me

https://www.redfin.com/MD/Rockville/600-Garden-View-Sq-20850/home/11191138
https://www.redfin.com/MD/Rockville/517-Falcon-Park-Ln-20850/home/10553618

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We are in North Farm, currently zoned to Farmland ES > Tilden MS > WJ but one of the proposed options (#3) will have our kids going to Kennedy HS. Very long bus drive. My youngest is old enough that it will not affect her. She will be able to finish WJ. My main concern is the real estate prices, since we bought recently, and if it is a dramatic drop it will put us under water. Anyone else in the same boundary? How much do you think the prices will go down? I am almost considering selling it now just in case.

It's not going to be a dramatic drop. Look at King Farm. The parts zoned for Gaithersburg HS are pretty similar in price to those zoned for Richard Montgomery.

Nah, on average - there is difference in prices when it comes to exact same houses. I live in the area.

How big of a difference? Similar does not mean identical and they are similar.

I live in RM cluster. I would say Wootton goes for 10-15% premium for similar houses compared to RM cluster. Saying that based on when we were looking to buy. We picked RM for various reasons but that's my recollection.

Wootton => RM is vastly different than WJ => Kennedy.