Reply to Concerned about buying in WJ cluster because of re-zoning

Forum Index » Real Estate

Reply to "Concerned about buying in WJ cluster because of re-zoning"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Am I the only one not concerned about this?  We’re zoned for Garrett Park and I don’t really care whether we go to WJ or reopened Woodward.  Looking at the surrounding area, it’s going to be a relatively well-off crowd in either case.  It’s not like our HHI is going to change based on this decision.  We’re well-off and my kid’s probably going to have scores reflecting that whichever school he goes to.[/quote]

If you are in one of the nice big houses in Garret Park and see going to hold it for a long time I'm sure it's no big deal.

If you are in one of those tiny houses in Garret Park Estates, you need to ask yourself why your house costs $650k when they cost $350k in Randolph Hills?  That difference seems ripe for arbitrage.

Now maybe Amazon will move to White Flint and everyone's home will boom.  Who knows?[/quote]

I’m in neither but I think you’re seriously exaggerating.  A bunch of the Garrett Park Estates are tear downs turning into nice new construction that isn’t going to drop to $350K.  The quality of Woodward is not going to be like Einstein.  People need to calm down.[/quote]

I do agree that combining few elementary schools from Einstein and few from WJ will not result in another Einstein. It will result in something between WJ and Einstein.[/quote]

Right.  So after all the dust settles, I bet we see Randolph Hills go up to $400-450 and Garrett Park Estates fall to $500-550k.  Not catastrophic, but I would not pay $650k for one of those houses until the dust settles.

I'm not bring snobby.  Id probably just buy in Randolph Hills and roll the dice -- can always move if things don't actually pan out.[/quote]

I am sure Einstein is a fine school but as a Parkwood Resident who has a 400K mortgage on a 1m house that hasn't appreciated much, that we purchased with our own money and hardwork, the prospect of losing money on my house terrifies me.[/quote]

Randolph Hills goes to Wheaton folks, which is part of the reason I used it as my example.  Einstein is improving / popular and if KP got rezoned there it would improve even more.  Wheaton is not likely to magically improve any time soon.

There are lots of housed zoned for Einstein that sell for $700k and South Kensington will always have a premium over North Kensington.

So Parkwood could fall but not catastrophic.  Maybe your million home becomes $900k?[/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