The 3 houses you list are pretty bad examples. These were all built right at the height of the housing boom.

Anonymous wrote:i think HOA is the only way to preserve home value

in areas of california, older homes re-sell for higher values every year because its literally impossible to build new

california homes are rising in value because demand outweighs supply. We just sold our home in sausalito and had multiple offers. some all cash. it's just a different market out there and you can't compare it to McLean

i think HOA is the only way to preserve home value

in areas of california, older homes re-sell for higher values every year because its literally impossible to build new

People pay a new home premium, not unlike a new car premium.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Examples?

like this one
https://www.redfin.com/VA/McLean/925-Mackall-Ave-22101/home/9275740

or this one, 13 years and you barely break even after fees to realtors and taxes
https://www.redfin.com/VA/McLean/7216-Farm-Meadow-Ct-22101/home/9838684

or this one
https://www.redfin.com/VA/McLean/1571-Maddux-Ln-22101/home/21726054

so many examples, just make me question the value of new builds

i think its much safer to build a 20-year homes for 1.2M, at least you can re-sell it for 1.2M easily

There are also plenty of $2M+ houses inside the Beltway in McLean that have resold recently at higher prices - here are some examples:

https://www.redfin.com/VA/McLean/1310-Calder-Rd-22101/home/9391547
https://www.redfin.com/VA/McLean/6514-W-Langley-Ln-22101/home/9392511
https://www.redfin.com/VA/McLean/1303-Kirby-Rd-22101/home/12074797
https://www.redfin.com/VA/McLean/1940-Virginia-Ave-22101/home/28647523
https://www.redfin.com/VA/McLean/1917-Franklin-Ave-22101/home/9483486

200k gain on a 2m+ home over 10 year horizon is barely break even
Realtor fee, tax, closing cost alone is 120k+ on a 2M home

Luxury home simply isn't a good investment in mclean

You could make the same observation with respect to newer homes in slightly lower price brackets in North Arlington and Vienna, but people also buy for schools, commutes, neighborhoods, and mortgage deductions.

I don't think a new $1.2M house in McLean would be very nice, and if the $1.2M alternative is Pimmit Hills, well, no thanks.

the benefit of mortgage deduction isn't that big after all

Anonymous wrote:New homes have no intrinsic character created by good architecture and quality construction.

Lacking this, builders fill new homes with the latest on trend finishes. You By their nature the finishes are dated quickly and fall out of favor fast. After 5-10 years, one is selling a dated box. Buyers prefer the new box with trendy details that will fade fast in favor.

This. And it's not just McLean. Of course there are new homes built that do have these attributes, but most don't, not at all.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Examples?

like this one
https://www.redfin.com/VA/McLean/925-Mackall-Ave-22101/home/9275740

or this one, 13 years and you barely break even after fees to realtors and taxes
https://www.redfin.com/VA/McLean/7216-Farm-Meadow-Ct-22101/home/9838684

or this one
https://www.redfin.com/VA/McLean/1571-Maddux-Ln-22101/home/21726054

so many examples, just make me question the value of new builds

i think its much safer to build a 20-year homes for 1.2M, at least you can re-sell it for 1.2M easily

There are also plenty of $2M+ houses inside the Beltway in McLean that have resold recently at higher prices - here are some examples:

https://www.redfin.com/VA/McLean/1310-Calder-Rd-22101/home/9391547
https://www.redfin.com/VA/McLean/6514-W-Langley-Ln-22101/home/9392511
https://www.redfin.com/VA/McLean/1303-Kirby-Rd-22101/home/12074797
https://www.redfin.com/VA/McLean/1940-Virginia-Ave-22101/home/28647523
https://www.redfin.com/VA/McLean/1917-Franklin-Ave-22101/home/9483486

200k gain on a 2m+ home over 10 year horizon is barely break even
Realtor fee, tax, closing cost alone is 120k+ on a 2M home

Luxury home simply isn't a good investment in mclean

You could make the same observation with respect to newer homes in slightly lower price brackets in North Arlington and Vienna, but people also buy for schools, commutes, neighborhoods, and mortgage deductions.

I don't think a new $1.2M house in McLean would be very nice, and if the $1.2M alternative is Pimmit Hills, well, no thanks.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Examples?

like this one
https://www.redfin.com/VA/McLean/925-Mackall-Ave-22101/home/9275740

or this one, 13 years and you barely break even after fees to realtors and taxes
https://www.redfin.com/VA/McLean/7216-Farm-Meadow-Ct-22101/home/9838684

or this one
https://www.redfin.com/VA/McLean/1571-Maddux-Ln-22101/home/21726054

so many examples, just make me question the value of new builds

i think its much safer to build a 20-year homes for 1.2M, at least you can re-sell it for 1.2M easily

There are also plenty of $2M+ houses inside the Beltway in McLean that have resold recently at higher prices - here are some examples:

https://www.redfin.com/VA/McLean/1310-Calder-Rd-22101/home/9391547
https://www.redfin.com/VA/McLean/6514-W-Langley-Ln-22101/home/9392511
https://www.redfin.com/VA/McLean/1303-Kirby-Rd-22101/home/12074797
https://www.redfin.com/VA/McLean/1940-Virginia-Ave-22101/home/28647523
https://www.redfin.com/VA/McLean/1917-Franklin-Ave-22101/home/9483486

The list you gave is laughable... seller is losing money in all these homes because the gains don't cover expense
Especially 1940 Virginia ave, it resold after 5 years for only $50k profit, not even enough to cover half the seller's cost

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Examples?

like this one
https://www.redfin.com/VA/McLean/925-Mackall-Ave-22101/home/9275740

or this one, 13 years and you barely break even after fees to realtors and taxes
https://www.redfin.com/VA/McLean/7216-Farm-Meadow-Ct-22101/home/9838684

or this one
https://www.redfin.com/VA/McLean/1571-Maddux-Ln-22101/home/21726054

so many examples, just make me question the value of new builds

i think its much safer to build a 20-year homes for 1.2M, at least you can re-sell it for 1.2M easily

There are also plenty of $2M+ houses inside the Beltway in McLean that have resold recently at higher prices - here are some examples:

https://www.redfin.com/VA/McLean/1310-Calder-Rd-22101/home/9391547
https://www.redfin.com/VA/McLean/6514-W-Langley-Ln-22101/home/9392511
https://www.redfin.com/VA/McLean/1303-Kirby-Rd-22101/home/12074797
https://www.redfin.com/VA/McLean/1940-Virginia-Ave-22101/home/28647523
https://www.redfin.com/VA/McLean/1917-Franklin-Ave-22101/home/9483486

200k gain on a 2m+ home over 10 year horizon is barely break even
Realtor fee, tax, closing cost alone is 120k+ on a 2M home

Luxury home simply isn't a good investment in mclean

Biggest issue is this area doesn't see a huge influx of wealthy people able to afford 2-3m. Lots of growth in people able to afford 500-1m. So you have high demand and stagnant (even decreasing) stock of cheaper SFH for the latter crowd.

Also, older 2-3m houses compete with new builds/tear downs. Frankly if I had 2m, why wouldn't I build new? None of your examples are the pinnacles of design, quality, or tradition.

Anonymous wrote:

Anonymous wrote:Examples?

like this one
https://www.redfin.com/VA/McLean/925-Mackall-Ave-22101/home/9275740

or this one, 13 years and you barely break even after fees to realtors and taxes
https://www.redfin.com/VA/McLean/7216-Farm-Meadow-Ct-22101/home/9838684

or this one
https://www.redfin.com/VA/McLean/1571-Maddux-Ln-22101/home/21726054

so many examples, just make me question the value of new builds

i think its much safer to build a 20-year homes for 1.2M, at least you can re-sell it for 1.2M easily

There are also plenty of $2M+ houses inside the Beltway in McLean that have resold recently at higher prices - here are some examples:

https://www.redfin.com/VA/McLean/1310-Calder-Rd-22101/home/9391547
https://www.redfin.com/VA/McLean/6514-W-Langley-Ln-22101/home/9392511
https://www.redfin.com/VA/McLean/1303-Kirby-Rd-22101/home/12074797
https://www.redfin.com/VA/McLean/1940-Virginia-Ave-22101/home/28647523
https://www.redfin.com/VA/McLean/1917-Franklin-Ave-22101/home/9483486

Anonymous wrote:Examples?

like this one
https://www.redfin.com/VA/McLean/925-Mackall-Ave-22101/home/9275740

or this one, 13 years and you barely break even after fees to realtors and taxes
https://www.redfin.com/VA/McLean/7216-Farm-Meadow-Ct-22101/home/9838684

or this one
https://www.redfin.com/VA/McLean/1571-Maddux-Ln-22101/home/21726054

so many examples, just make me question the value of new builds

i think its much safer to build a 20-year homes for 1.2M, at least you can re-sell it for 1.2M easily

Examples?

New homes have no intrinsic character created by good architecture and quality construction.

Lacking this, builders fill new homes with the latest on trend finishes. You By their nature the finishes are dated quickly and fall out of favor fast. After 5-10 years, one is selling a dated box. Buyers prefer the new box with trendy details that will fade fast in favor.

i've seen so many new builds in mclean sold for $2-3M then gradually lose their values and re-sold at lower price years later

seems like everyone just prefer newer homes, anyone care to offer some different theories?