Reply to Poll: is new construction in Vienna overpriced?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]If this house were dropped somewhere in Mclean inside beltway, it would go for close to 2 mil.  There is one very similar to this one that sold in my neighborhood for over 2 mil.  I think this price range for Vienna is reasonable.  At least on the inside this home does look like a million dollar home.   Agree about the hideous backyard and back side of the house, definitely needs hardcore landscaping and some deck/porch to spruce it up.  [/quote]

I don't see a $1.1M house in Vienna going for close to $2M in McLean.  I'd be thinking more like $1.55M there, and $1.35M in Falls Church/22043.

It's a nice house with plenty to offer a family, but also just enough odd/cheap features to pull the price down.  The dormers and the lack of a porch or deck are two examples.  [/quote]

http://www.redfin.com/VA/Mclean/1407-Julia-Ave-22101/home/40422367
similar in size of the house and the lot.  It was listed for 2 mil from what I remember.

http://www.zillow.com/homedetails/6520-Topeka-Rd-Mclean-VA-22101/51752472_zpid/

this one I think also sold, but not sure, haven't been there recently.

The cheapest new construction homes around that area I've seen are 1.6 mil and they are smaller than the Vienna house, under 5000 sq.ft.

Given how much new construction costs in closer-in areas and reading the threads on 900K homes in Chantilly, I don't think it is overpriced.  Maybe a few years ago, but in today's market, definitely not.

[/quote]

First house sold, second is under contract, and both are nicer than the Vienna house near 66.  They would get listed for around $1.5 or $1.6M in Vienna, like some of the Ayr Hill homes.

I don't think the Vienna house is overpriced in the current market, just that the price differential between Vienna and McLean isn't as big as some have suggested.  [/quote]

If people are suggesting that this Vienna home is overpriced, then they are suggesting that Mclean demands much higher premiums, because they are saying essentially, that this house should go for less, while in Mclean similar homes sell quickly enough for a lot more.  I actually say otherwise, I don't believe that Vienna is almost half price of Mclean, it never was, so it seems this house is maybe underpriced or Mclean homes are overpriced.  Or maybe, like you are saying, they are not as comparable, because of the desirability of this close to highways area in Vienna vs. Salona Village, which seems to be hot, in Mclean, not to mention Vienna house just looks uglier and has unfinished front/back yard and no patio. [/quote]

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