I'm glad you brought this up. I've always wondered about this. I noticed a number of homes in Potomac are septic or well water. What additional hassle does this create for the owners, and are there plans for them to be connected to the city water system. Thanks in advance for any insights.
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Bradley Farms and Great Falls Estates (Potomac Falls)
Bradley Farms is full of old money mansions:
http://www.thefleishergroup.com/ls/fleisher-sold-property-details.asp?id=53727&agent=0&mlsID=
Ugly!
4 acres with septic and wells? That's old school (pre-1975 or so) Potomac. A dying breed.
I'm glad you brought this up. I've always wondered about this. I noticed a number of homes in Potomac are septic or well water. What additional hassle does this create for the owners, and are there plans for them to be connected to the city water system. Thanks in advance for any insights.
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Bradley Farms and Great Falls Estates (Potomac Falls)
Bradley Farms is full of old money mansions:
http://www.thefleishergroup.com/ls/fleisher-sold-property-details.asp?id=53727&agent=0&mlsID=
Ugly!
4 acres with septic and wells? That's old school (pre-1975 or so) Potomac. A dying breed.
Anonymous wrote:OP - you originally asked if there was a demographic trend moving away from Potomac. There has been a significant shift away from Potomac in the past 10 years. Potomac houses are generally priced anywhere from 5%-10% over market, sit for months, and decline in value each year.
Potomac is a great to place to live if you want land, a big house, trees, and good public and private schools. We loved having 2 acres but there are very few people who want 2 acres now or even a big house. The trend is toward walkability, close in urban/suburban areas, and less land. Potomac has a lot of older inventory that was built in the 80s and now needs more intensive updating/upgrading - new HVAC, roof, undetected water intrusion from foundation, pools that need systems replaced. Potomac sellers usually haven't replaced or addressed these issues or factored them into their prices.
On the upside its a buyers market with lots of choices. On the downside, you will be dealing with delusional sellers and listing realtors. I say this as someone who sold a house. I was shocked at how many Potomac realtors wanted to over price our home. Potomac realtors are the worst. Check the comps for the past several years and look at comps for fall/winter vs spring. Some Potomac sellers get lucky with the spring market but there are so many houses on the market many in Potomac are more in line with lower fall comps. Don't be persuaded to pay more for someone else's poor tastes in curtains, updating a bathroom or kitchen appliances. Ask your realtor to pull disclosures before you look at houses. Realtors like to try to get you emotionally hooked before you start looking at the defects in a property.
My advice would be to look at this as buying the home you want not making a business deal but don't over pay. Don't pay more than recent 2017 comps (Potomac declined 6% from 2016-2017) and factor into your five year budget that you house will decline in at least 5% over the next five years.
Anonymous wrote:OP - you originally asked if there was a demographic trend moving away from Potomac. There has been a significant shift away from Potomac in the past 10 years. Potomac houses are generally priced anywhere from 5%-10% over market, sit for months, and decline in value each year.
Potomac is a great to place to live if you want land, a big house, trees, and good public and private schools. We loved having 2 acres but there are very few people who want 2 acres now or even a big house. The trend is toward walkability, close in urban/suburban areas, and less land. Potomac has a lot of older inventory that was built in the 80s and now needs more intensive updating/upgrading - new HVAC, roof, undetected water intrusion from foundation, pools that need systems replaced. Potomac sellers usually haven't replaced or addressed these issues or factored them into their prices.
On the upside its a buyers market with lots of choices. On the downside, you will be dealing with delusional sellers and listing realtors. I say this as someone who sold a house. I was shocked at how many Potomac realtors wanted to over price our home. Potomac realtors are the worst. Check the comps for the past several years and look at comps for fall/winter vs spring. Some Potomac sellers get lucky with the spring market but there are so many houses on the market many in Potomac are more in line with lower fall comps. Don't be persuaded to pay more for someone else's poor tastes in curtains, updating a bathroom or kitchen appliances. Ask your realtor to pull disclosures before you look at houses. Realtors like to try to get you emotionally hooked before you start looking at the defects in a property.
My advice would be to look at this as buying the home you want not making a business deal but don't over pay. Don't pay more than recent 2017 comps (Potomac declined 6% from 2016-2017) and factor into your five year budget that you house will decline in at least 5% over the next five years.
Anonymous wrote:Anonymous wrote:Anonymous wrote:Bradley Farms and Great Falls Estates (Potomac Falls)
Bradley Farms is full of old money mansions:
http://www.thefleishergroup.com/ls/fleisher-sold-property-details.asp?id=53727&agent=0&mlsID=
Ugly!