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Reply to "What is truly going on with the DC area real estate market, please explain? "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I’m new to the DMV. We don’t plan to stay longer than 5 years so we watch the market very closely to ensure we don’t over renovate, etc. Not to hijack this post, but can someone explain to me why homes in CCDC seem to sell at a higher cost per square foot than CCMD. They seem very similar. Or does it come down to being “walkable” to metro and/or the 4 shops on CT? Generally curious. [/quote] Having a D.C. address and zip code has better cachet. That's basically it. You see the same thing with Potomac DC versus Potomac MD and the only difference is a dividing invisible line. Property taxes in D.C. are also substantially lower. We only pay a city tax. Maryland residents pay both county and state at higher rates.[/quote] Immediately next to CCDC in MD the houses and the lots are bigger. [/quote] Not too long ago, it was the opposite. However, MD keeps raising taxes so that taxes in DC are now lower. The schools CCDC are zoned to have also improved tremendously over the last 10-20 years (or at least the perception of them has) whereas people have become increasingly dissatisfied with MoCo school. Most people I know in CCMD send their kids to private.[/quote]
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