Reply to why new builds in mclean lose values over time?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Examples?[/quote]

like this one
https://www.redfin.com/VA/McLean/925-Mackall-Ave-22101/home/9275740

or this one, 13 years and you barely break even after fees to realtors and taxes 
https://www.redfin.com/VA/McLean/7216-Farm-Meadow-Ct-22101/home/9838684

or this one
https://www.redfin.com/VA/McLean/1571-Maddux-Ln-22101/home/21726054

so many examples, just make me question the value of new builds

i think its much safer to build a 20-year homes for 1.2M, at least you can re-sell it for 1.2M easily[/quote]

There are also plenty of $2M+ houses inside the Beltway in McLean that have resold recently at higher prices - here are some examples:

https://www.redfin.com/VA/McLean/1310-Calder-Rd-22101/home/9391547
https://www.redfin.com/VA/McLean/6514-W-Langley-Ln-22101/home/9392511
https://www.redfin.com/VA/McLean/1303-Kirby-Rd-22101/home/12074797
https://www.redfin.com/VA/McLean/1940-Virginia-Ave-22101/home/28647523
https://www.redfin.com/VA/McLean/1917-Franklin-Ave-22101/home/9483486[/quote]

200k gain on a 2m+ home over 10 year horizon is barely break even
Realtor fee, tax, closing cost alone is 120k+ on a 2M home

Luxury home simply isn't a good investment in mclean[/quote]

You could make the same observation with respect to newer homes in slightly lower price brackets in North Arlington and Vienna, but people also buy for schools, commutes, neighborhoods, and mortgage deductions.

I don't think a new $1.2M house in McLean would be very nice, and if the $1.2M alternative is Pimmit Hills, well, no thanks. [/quote]

the benefit of mortgage deduction isn't that big after all

[/quote]

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