Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I believe all the posts crying about redistrict are from one or two persons. Frankly speaking, we would like to buy a house in the community and fine with either QO or Wootton. Unfortunately, we are too late to grab a lot in the development. I know a few buyers who don’t care about the potential boundary change at all.

No one wants QO (which is what this area will be) over Wootton. Lol. There is no question.

+1, obviously.

I’d take QO with all the North Potomac kids going there over Wootton which will have Gaithersburg HS kids rezoned there. The point of rezoning is to balance diversity and socioeconomic factors...it’s not like Churchill students will be the ones going to Wootton after a rezoning takes place. Wootton is definitely a better choice currently, but after a rezoning, it’s going to be taken down a few notches for sure.

Nice try, but no go.

If you are so worried about even the possibility of a rezoning, then clearly Mt. Prospect isn't for you. I think we'll be fine regardless of what happens and I'm looking forward to moving into the community.

I think these posts are intended to
Show that The group of your potential buyers is just extremely limited by the school situation.

Actually I think it’s the opposite. Folks don’t care about the school district as much as many believe...which is shown by the overwhelming interest in Mt Prospect. They are not having a problem selling homes despite raising the price significantly.

+1

SCHOOL BOUNDARIES

If you are not sure that you reside in the Wootton High School area, please call the Montgomery County Public Schools' (MCPS) Boundary Office at 301-279-3331 or visit the MCPS Department of Planning web site at: https://www.montgomeryschoolsmd.org/departments/planning/BoundaryInformation.htm

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I believe all the posts crying about redistrict are from one or two persons. Frankly speaking, we would like to buy a house in the community and fine with either QO or Wootton. Unfortunately, we are too late to grab a lot in the development. I know a few buyers who don’t care about the potential boundary change at all.

No one wants QO (which is what this area will be) over Wootton. Lol. There is no question.

+1, obviously.

I’d take QO with all the North Potomac kids going there over Wootton which will have Gaithersburg HS kids rezoned there. The point of rezoning is to balance diversity and socioeconomic factors...it’s not like Churchill students will be the ones going to Wootton after a rezoning takes place. Wootton is definitely a better choice currently, but after a rezoning, it’s going to be taken down a few notches for sure.

Nice try, but no go.

If you are so worried about even the possibility of a rezoning, then clearly Mt. Prospect isn't for you. I think we'll be fine regardless of what happens and I'm looking forward to moving into the community.

I think these posts are intended to
Show that The group of your potential buyers is just extremely limited by the school situation.

Actually I think it’s the opposite. Folks don’t care about the school district as much as many believe...which is shown by the overwhelming interest in Mt Prospect. They are not having a problem selling homes despite raising the price significantly.

Yep. The folks don't want to believe it but this thread is the anecdotal evidence they need. Plenty of folks have come on here and said that the school rezoning isn't a big thing for them. It's the same reason why the $1m+ stuff sells quickly at Crown, etc.

“Toll Brothers sees record demand for new houses, expects an increase in prices to follow”

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I believe all the posts crying about redistrict are from one or two persons. Frankly speaking, we would like to buy a house in the community and fine with either QO or Wootton. Unfortunately, we are too late to grab a lot in the development. I know a few buyers who don’t care about the potential boundary change at all.

No one wants QO (which is what this area will be) over Wootton. Lol. There is no question.

+1, obviously.

I’d take QO with all the North Potomac kids going there over Wootton which will have Gaithersburg HS kids rezoned there. The point of rezoning is to balance diversity and socioeconomic factors...it’s not like Churchill students will be the ones going to Wootton after a rezoning takes place. Wootton is definitely a better choice currently, but after a rezoning, it’s going to be taken down a few notches for sure.

Nice try, but no go.

If you are so worried about even the possibility of a rezoning, then clearly Mt. Prospect isn't for you. I think we'll be fine regardless of what happens and I'm looking forward to moving into the community.

I think these posts are intended to
Show that The group of your potential buyers is just extremely limited by the school situation.

Actually I think it’s the opposite. Folks don’t care about the school district as much as many believe...which is shown by the overwhelming interest in Mt Prospect. They are not having a problem selling homes despite raising the price significantly.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I believe all the posts crying about redistrict are from one or two persons. Frankly speaking, we would like to buy a house in the community and fine with either QO or Wootton. Unfortunately, we are too late to grab a lot in the development. I know a few buyers who don’t care about the potential boundary change at all.

No one wants QO (which is what this area will be) over Wootton. Lol. There is no question.

+1, obviously.

I’d take QO with all the North Potomac kids going there over Wootton which will have Gaithersburg HS kids rezoned there. The point of rezoning is to balance diversity and socioeconomic factors...it’s not like Churchill students will be the ones going to Wootton after a rezoning takes place. Wootton is definitely a better choice currently, but after a rezoning, it’s going to be taken down a few notches for sure.

Nice try, but no go.

If you are so worried about even the possibility of a rezoning, then clearly Mt. Prospect isn't for you. I think we'll be fine regardless of what happens and I'm looking forward to moving into the community.

I think these posts are intended to
Show that The group of your potential buyers is just extremely limited by the school situation.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I believe all the posts crying about redistrict are from one or two persons. Frankly speaking, we would like to buy a house in the community and fine with either QO or Wootton. Unfortunately, we are too late to grab a lot in the development. I know a few buyers who don’t care about the potential boundary change at all.

No one wants QO (which is what this area will be) over Wootton. Lol. There is no question.

+1, obviously.

I’d take QO with all the North Potomac kids going there over Wootton which will have Gaithersburg HS kids rezoned there. The point of rezoning is to balance diversity and socioeconomic factors...it’s not like Churchill students will be the ones going to Wootton after a rezoning takes place. Wootton is definitely a better choice currently, but after a rezoning, it’s going to be taken down a few notches for sure.

Nice try, but no go.

If you are so worried about even the possibility of a rezoning, then clearly Mt. Prospect isn't for you. I think we'll be fine regardless of what happens and I'm looking forward to moving into the community.

I graduated from QO in the early 00's and worked with many Wootton kids at my summer job. To this day, none of us understand the difference between the quality of the two schools. Everyone went on to good colleges and have great careers. I'm not discounting the importance of buying in a good school district but making Wootton seem infinitely better than QO is ridiculous.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I believe all the posts crying about redistrict are from one or two persons. Frankly speaking, we would like to buy a house in the community and fine with either QO or Wootton. Unfortunately, we are too late to grab a lot in the development. I know a few buyers who don’t care about the potential boundary change at all.

No one wants QO (which is what this area will be) over Wootton. Lol. There is no question.

+1, obviously.

I’d take QO with all the North Potomac kids going there over Wootton which will have Gaithersburg HS kids rezoned there. The point of rezoning is to balance diversity and socioeconomic factors...it’s not like Churchill students will be the ones going to Wootton after a rezoning takes place. Wootton is definitely a better choice currently, but after a rezoning, it’s going to be taken down a few notches for sure.

Nice try, but no go.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I believe all the posts crying about redistrict are from one or two persons. Frankly speaking, we would like to buy a house in the community and fine with either QO or Wootton. Unfortunately, we are too late to grab a lot in the development. I know a few buyers who don’t care about the potential boundary change at all.

No one wants QO (which is what this area will be) over Wootton. Lol. There is no question.

+1, obviously.

I’d take QO with all the North Potomac kids going there over Wootton which will have Gaithersburg HS kids rezoned there. The point of rezoning is to balance diversity and socioeconomic factors...it’s not like Churchill students will be the ones going to Wootton after a rezoning takes place. Wootton is definitely a better choice currently, but after a rezoning, it’s going to be taken down a few notches for sure.

Anonymous wrote:

Anonymous wrote:I believe all the posts crying about redistrict are from one or two persons. Frankly speaking, we would like to buy a house in the community and fine with either QO or Wootton. Unfortunately, we are too late to grab a lot in the development. I know a few buyers who don’t care about the potential boundary change at all.

No one wants QO (which is what this area will be) over Wootton. Lol. There is no question.

+1, obviously.

Anonymous wrote:

Anonymous wrote:Demand continues to be off the charts! The sales agent said that TB is getting ready to have another across the board price increase later this month!

. You mean for phase 2 prices will be much higher?

Who knows how high the prices will be by the time Phase 2 opens. Phase 1 prices are going up again by the end of the month. The agent expects another 4% increase!

“As if 2020 wasn’t challenging enough, home builders are seeing new home construction cost increases during the peak season this year. With as much as an 80 percent increase in the cost of lumber over the last four months*.

While the cost of new homes has risen gradually over the last few years, a recent spike in softwood lumber prices has caused an increase of over $16,000 to the average single-family home in just a few months. As of July 2020, the national median home price surpassed $300,000 for the first time ever.

Quickly rising costs and supply chain shortages for lumber and other building materials combined with economic uncertainty because of the coronavirus pandemic might seem like the recipe for a major slowdown in the housing marketing, however 2020 is not a typical year. Pent-up buyer demand coupled with historically low interest rates and limited inventory have combined to create heavy competition for homebuyers hoping to lock-in a low fixed-rate mortgage on a new home.

The NAHB/Wells Fargo Housing Index, which measures home builder confidence, hit an all-time high of 78 in August 2020. That confidence is bolstered by the fact that the supply of new home inventory is currently very low.

Historically low interest rates
According to a July CNN Business article, “The average 30-year fixed-rate mortgage fell to a record low of 2.98% this past week, according to Freddie Mac. That’s the lowest level in the nearly 50 years of the mortgage giant’s survey. The 15-year fixed-rate mortgage dropped to 2.48%.”

Between historically low interest rates and limited inventory on the market, many Realtors and Builders are seeing homebuyers in bidding wars to try and secure a new home even with the new home construction cost increases that have occurred over the last four months.

The price of lumber
*According to a recent NHAB article, “… by the time Random Lengths reported prices on Aug. 21, the cost to builders had risen to $30,470 for the softwood lumber products in an average single-family home, and $11,061 for the products in an average multifamily home. This is a $13,543 (80%) and $5,122 (86%) increase respectively, in only four months.

The sudden spike in lumber prices coupled with the supply chain slowdowns and interruptions because of the coronavirus pandemic have increased the cost and time to build new homes. This has resulted in available inventory on the market shrinking to a three-month supply.

Other Factors Limiting New Home Inventory
Shortage of buildable lots and increased land prices
The lack of buildable lots is one of the largest issues facing home builders and one of the reasons that new home inventory is not keeping up with demand. Many builders don’t have the resources to develop their own land and depend on large developers to create buildable lots. This has created a backlog and increased the cost of new lots.

Increased regulatory costs
Local land use policies have made it more difficult to develop buildable lots and increased regulations have made the lots more expensive. This is leading to smaller lots and homes with higher costs that can make it difficult for builders to deliver new homes at a price the market can bear.

Shortage of Skilled Labor
With approximately 300,000 unfilled construction jobs as of June 2020, new home production has been greatly constrained which is another factor preventing home builders from meeting the demand for new homes. When the recession hit in 2008, many workers left the construction industry for other careers. Fewer young people are interested in construction related careers these days with parents steering them toward technology and white-collar careers.

Conclusion
Even with new home construction cost increases and limited new home inventory, the real estate market is experiencing a buyer’s frenzy this summer as homebuyers look to lock-in a low interest mortgage on a new home.

It is unlikely that new home prices will go down anytime soon, if ever, but the mortgage interest rates will eventually go up. That makes this a great time to buy a new home, even if they are getting harder to find.”

“Wealthy Americans, largely untouched by the recession and eager for more living space, have been on a homebuying binge.

Demand for million-dollar homes is growing faster than any other price tier in the pandemic-driven U.S. housing boom. In October, applications for mortgages larger than $766,000 jumped 59%, the biggest gain for all segments measured by the Mortgage Bankers Association. By comparison, the increase for mortgages from $150,000 to $300,000 was 13%.”

“The number of homes for sale reached an all-time low in December, as buyers remained active and eager to buy even during the holiday season. National inventory declined by 39.6% over the last year, and fell below 700,000 for the first time, according to a new report from realtor.com

The U.S. housing market has been a consistent bright spot during the coronavirus crisis, buoying the economy, which in December lost jobs — 140,000 of them — for the first time since April. Even during such uncertain times, mortgage rates remain at historically low levels and many Americans are seeking more space as their homes have transformed into offices and schools overnight.

But given the low inventory and the quick turnaround of homes, middle class Americans are finding homeownership more inaccessible than ever, according to Grant Cardone, a real estate investor who manages a $1.4 billion portfolio of multifamily properties and also stars in Discovery Network’s (DISCA) reality series, "Undercover Billionaire.”

“The middle class are going to get priced out permanently. The great divide will get wider, wealthy people are picking up second and third homes like most people buy Skittles or the way we were buying toilet paper back in March. The average person is not able to grab a house today. After the pandemic, the banks went to 20% down, now they're doing double and triple checks to see if your future employment is stable,” he said during an interview with Yahoo Finance Live on Friday.

‘It’s going to get more and more difficult’

Homes are selling quickly in this environment, spending an average of 66 days on the market as of December — 13 fewer days on average than in 2019, according to realtor.com. U.S. home price growth surged in October to levels not seen in six years, Yahoo Finance’s Amanda Fung reported.

“It's going to get more and more difficult for people to buy homes in the lowest interest rate environment we've ever had, the middle class will not be able to take advantage of this. This validates the concept which I've been pushing... cash is trash and the wealthy are turning cash into real assets,” he added.”