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[quote=Anonymous]Full disclosure, I live in CC MD but in the unfashionable part, not posh although gentrifying some. We like it well enough here, schools are good, commute to DC is easy, there is too much traffic but that's partly the price of living close-in (and not having enough money to live in the posh parts.) We are at the stage of renovate or move, and I'm pretty sure we have to renovate because the prices I see for houses in 20815 and other nearby neighborhoods just seem insane to me. We've been here about 10 years and while I'm sure our house has appreciated I am quite sure that it would NOT go for anywhere near these prices, if only because it's not in the nicer part of CC.

And I know (and sort of understand) people pay ridiculous sums to live in the parts of CC (or Bethesda) that are within walking distance of the metro, or even on the quieter quaint streets of the Town of CC or whatever. But why would anyone spend $800k and beyond for a small, older home with relatively modest updates? For example, I drive by these houses every day and it boggles my mind that anyone would pay $850k or $900k for such small places, next to a somewhat busy street.

[url]http://www.redfin.com/MD/Chevy-Chase/7507-Brookville-Rd-20815/home/10652733[/url]
[url]http://www.redfin.com/MD/Chevy-Chase/3701-Bradley-Ln-20815/home/10641582[/url]

Am I totally out of touch with the market (which is likely)? Still, how does someone justify spending $900k on a house with a small galley kitchen, or $850k on a house with only 2 upstairs bedrooms? What am I missing here? 
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