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[quote=Anonymous]My neighborhood of mid 1970s homes in Potomac most are 1/2 acre 4,000 sf upstairs with a 2,000 sf basement and a two car garage. Over last two years we had a few buyers who gut them but then do a big expansion. I am talking like a a 2,000 sf expansion. My neighbor told me the new neighbor down block spent 1.9 million to buy home then 1.1 million to renovate and expand. It looks like a Frankenstein house in end. Plus he had to carry two homes for a whole year while being done. Meanwhile the fancy rich blocks in Potomac such as Iron Gate or Bentcross have all redone 10,000 sf homes on two acres that often sell for around 2.5 million to 3 million. Much better block, bigger house, more land. And still less cost. I have seen it happen now 5-6 time in last year. \ Do people not have common sense? I also can only imagine the permit costs and impact on property taxes. These are not multfamily things. [/quote]
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