Anonymous wrote:15% price difference in house developed by same developer in same community in Kings farms. One side goes to RM and other goes to Gaithersburg.
When RP was rezoned to RM in 80s, house prices fell by 15-20% in that area. Look it up.
Things may play out differently for WJ, but school has a huge impact on house prices. Let's be civil to each other.
The school change has an impact when that school is worse than the previous school. Saying Woodward is going to be worse than WJ is all conjecture.
Also, there are homes zoned for WJ that are right next to Pike and Rose and other planned developments right next to Pike and Rose. These houses will rise in price because of development and proximity to Metro so much that even if these people are rezoned to Woodward in 5 years if you buy now your house will still have appreciated.
A lot of naysayers in this thread are not taking future development and proximity to DC into account. In 5 years a lot of these homes in the WJ cluster that are either close to DC (KP is around 3 miles from the DC line) and/or close to development (houses near Grovesnor and White Flint Metros) are going to appreciate so much because of these factors (2% to 3% per year) that a school change is not going to leave buyers who purchase homes in these areas and where underwater. These are not homes 15 miles away from DC zoned for QO. Most homes in the WJ district have a lot going for them besides schools.
My issue with the naysayers is that they’re painting a picture for current buyers that assumes homes aren’t going to appreciate in the 5 years before this zoning change takes place. If a $750,000 house appreciates by 2% per year over 5 years it will be almost $825,000+ when the zoning change comes around. If the same house appreciates at 3% it will be worth more than $862,000. Acting like this zoning change - if it happens - will completely wipe out this appreciation is a seriously pessimistic and unlikely scenario.