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[quote=Anonymous][quote=Anonymous]I think the worst part of the problem is that the quality of the houses in Potomac for sale is low.  There is hardly any new building going on, and those that are are going up on crappy lots with water running through them.  The older ones need to be torn down due to dank, dank, mold smell, old infrastructure, horrific original build materials.  But, too expensive to tear down and rebuild! At some point there will be no choice, like the houses in the Luxmanor ES district, where new ones replaced old.  There is not a whole new crop of houses like in Bethesda around North Bethesda MS.  But there desperately needs to be.  And, worst of all, they will probably be crazy bigger McMansions when they do.  [/quote]

Potomac in general Comps are not a good indicator due to age of homes. My block in Potomac was built 1975. I bought in 2017 and paid highest price on block since bubble. My new neighbor came running over to see it after I moved in. House was only on market like 10 minutes when I bought it at broker only open house.

After I bought a home sold for S150K less same size.

Am I crazy no. My seller bought a wreck of house at peak in Spring 2005. He put in one new kitchen, four new bathrooms, all new wood floors main level, several new windows, new slate deck and red-did den with beautiful wood.  He did the work between 2005 and 2016.

Other houses back in Spring 2005 the seller did the paint, do new floors, update kitchens and baths (cheaply) to get ready for sale and top dollar. New Owner immediately underwater did nothing to house and is now selling in 2019 at a "200k" loss.

Very large houses are very expensive to fix and maintain, prices can swing 200k to 300K on my block on identical homes depending on condition of home. In phony realtor pictures they all look the same they are not. My house has a 2,000 square foot basement, prior owner painted, new carpeting, new sump pump, new trim, new windows. It is all usable, my old neighbor is was dank, smelly, paneled, ugly. Dont laugh just painting, put down new carpets, new windows, new doors in basement, new trim at 2,000 square feet adds up. I have no media room none of that it is square footage adds up.

My old block had tiny capes and splites, 1,300 to 1,400 square feet, fixer uppers did not go for a lot less than all done homes. Painting, sanding floors new windows in a tiny home is not much. Try that on a 7,0000 square foot home

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