Reply to Is there a premium between Chevy Chase MD and Chevy Chase DC because of schools?

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[quote=Anonymous][quote=Anonymous]If you are talking about true Chevy Chase*, the houses are uniformly larger on the Md. side.   That fuels the conventional wisdom that Md. costs more than DC.   It is hard/impossible to find an $800K 3 bed/1.5 bath in CC Md. because what few there were have all been razed to build lobbyist neo-colonials with a porch.  On the DC side, there are a lot of little houses left, still.

I've always said this makes sense, because if I'm developer X and I'm looking for a tear-down in order to create a $2.3 million spec house, I'm going to bank on the jurisdiction with the better schools.  Most homebuyers plunking down $1.8-$2.3M are going to (rightly) expect certain amenities, such as good government, strong schools, city services, etc.   Odds for a quick sale of that spec house go up in Md.

* ie, not the peripheral neighborhoods in Md. west of Wisconsin and north of EW Highway.[/quote]

I disagree with you about the small houses.  There are plenty of small houses on small lots in "true Chevy Chase."  While the houses above $1.8M are common on the MD side, they're few and far between in CCDC; conversely, I think you see more small bungalows in Section 3 and the area just west of Wisconsin than you see in CCDC, where the 3/4 bdrom colonial is more of the norm.

Most- no change that- all of the people I know in CCMD who live in houses above around the $1.3M mark send their kids to private school anyway.  I think the premium is really more noticeable on the smaller houses in CCMD where you see a small outdated bungalow priced at or above what you could get a nicer colonial in CCDC for.[/quote]

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