Reply to Beautiful McLean home under 2. Really cool

Forum Index » Real Estate

Reply to "Beautiful McLean home under 2. Really cool "

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous]That is a tear down in this neighborhood. I would be surprised if a developer doesn't buy it to tear down and replace with a 4M house. [/quote]

No. The $4m rebuilds in that neighborhood have lingered. Given the dearth of sub-$2m houses in McLean, I imagine this will go under contract soon. It’s not for me (I need a yard for my kids), but it’s a lovely home for another family. [/quote]

TBH there is a glut of these huge luxury homes north of 4 mil all over Mclean in every neighborhood, and they are lingering.  Maybe demand for them is dying and buyers are pickier looking for very specific specs, type of area, lot, scenery, overall design, etc.  They have so much to choose from. It's why you see some of these 4.5 mil homes sell quickly while others sit for many months.

But people who cannot afford homes over 2.5 mil (which is now the price of an old dated mcMansion) have few pickings, as most of the old 50s split levels and ramblers are going to the developers or require $$$ renovations to get them modernized, which isn't what everyone wants to do.  At the same time owners of these old homes don't want to invest into renovating them either, knowing they will have to sell for the price of land in the environment where construction and renovation costs are insanely high.  Which further reduces the stock of livable, renovated, more affordable older homes.

[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics