Anonymous
05/23/2020 22:12
Subject: Mt Prospect in North Potomac
I assume all site will be available since they released the details.
Anonymous
05/23/2020 11:53
Subject: Mt Prospect in North Potomac
Will all the home sites on their website be released at the same time or do they do it in phases?
Anonymous
05/23/2020 11:46
Subject: Mt Prospect in North Potomac
Anonymous wrote:Near turkey foot/high meadow area
The lot was 260k I believe
Forget what I just said...wife tells me he paid out of pocket for a lot of things and didn’t roll everything into mortgage. So in that case, going with Toll would be reasonable in this area as the price he paid is not too far off what Toll starting price is...and Toll is building a community which he doesn’t have. Plus schools are better (at least for now). Apologies on the incorrect info
Anonymous
05/23/2020 11:22
Subject: Mt Prospect in North Potomac
Near turkey foot/high meadow area
The lot was 260k I believe
The lot was 260k I believe
Anonymous
05/23/2020 08:31
Subject: Mt Prospect in North Potomac
Anonymous wrote:Anonymous wrote:Anonymous wrote:Wotton is 12 min drive from this development.
NW is 17 min and QO is 7 min.
I wouldn’t blow off the possibility of change. Remember, when rezoning occurs, entire areas shift. Some kids from QO would rezone to NW and open up space at QO. Some kids at NW would shift to Seneca Valley which has tons of space since it’s new.
Lastly, absolutely Toll would drop their price if rezoning occurs...they would have to as the huge draw is the school district. My buddy is building with Classic Homes in the QO district (behind the Mt Prospect area) and his all in was 1M...it’s a really nice home with all the bells and whistles, fully decked out with complete home automation, outdoor living, subzero appliances, built in theater etc.
Was he happy with classic homes? I assume it’s clsssic homes of MD? I spoke to them back in the fall about a build. Never went through with it.
As for the $1m all in - is that only for home construction or did that include lot, site work, etc?
Yes, classic homes of Maryland. It was everything, including permits, lot prep etc. All in, his mortgage is 800k...he put down 200k upfront for what he wanted.
That’s a great deal. Can you share where he built? Or at least with a bit more precision?
When I was talking to classic homes, if i wanted to stay in that $1m range, the lot couldn’t be more than around $200k in order the the numbers to work.
The problem is that it doesn’t make a ton of sense to build on a million dollar home on a 200k lot in this are (you’ll never get that market value)). Unless I’m looking at it wrong.
Anonymous
05/22/2020 23:29
Subject: Mt Prospect in North Potomac
Anonymous wrote:Anonymous wrote:Wotton is 12 min drive from this development.
NW is 17 min and QO is 7 min.
I wouldn’t blow off the possibility of change. Remember, when rezoning occurs, entire areas shift. Some kids from QO would rezone to NW and open up space at QO. Some kids at NW would shift to Seneca Valley which has tons of space since it’s new.
Lastly, absolutely Toll would drop their price if rezoning occurs...they would have to as the huge draw is the school district. My buddy is building with Classic Homes in the QO district (behind the Mt Prospect area) and his all in was 1M...it’s a really nice home with all the bells and whistles, fully decked out with complete home automation, outdoor living, subzero appliances, built in theater etc.
Was he happy with classic homes? I assume it’s clsssic homes of MD? I spoke to them back in the fall about a build. Never went through with it.
As for the $1m all in - is that only for home construction or did that include lot, site work, etc?
Yes, classic homes of Maryland. It was everything, including permits, lot prep etc. All in, his mortgage is 800k...he put down 200k upfront for what he wanted.
Anonymous
05/22/2020 22:36
Subject: Mt Prospect in North Potomac
Anonymous wrote:Wotton is 12 min drive from this development.
NW is 17 min and QO is 7 min.
I wouldn’t blow off the possibility of change. Remember, when rezoning occurs, entire areas shift. Some kids from QO would rezone to NW and open up space at QO. Some kids at NW would shift to Seneca Valley which has tons of space since it’s new.
Lastly, absolutely Toll would drop their price if rezoning occurs...they would have to as the huge draw is the school district. My buddy is building with Classic Homes in the QO district (behind the Mt Prospect area) and his all in was 1M...it’s a really nice home with all the bells and whistles, fully decked out with complete home automation, outdoor living, subzero appliances, built in theater etc.
Was he happy with classic homes? I assume it’s clsssic homes of MD? I spoke to them back in the fall about a build. Never went through with it.
As for the $1m all in - is that only for home construction or did that include lot, site work, etc?
Anonymous
05/22/2020 20:05
Subject: Mt Prospect in North Potomac
Wotton is 12 min drive from this development.
NW is 17 min and QO is 7 min.
I wouldn’t blow off the possibility of change. Remember, when rezoning occurs, entire areas shift. Some kids from QO would rezone to NW and open up space at QO. Some kids at NW would shift to Seneca Valley which has tons of space since it’s new.
Lastly, absolutely Toll would drop their price if rezoning occurs...they would have to as the huge draw is the school district. My buddy is building with Classic Homes in the QO district (behind the Mt Prospect area) and his all in was 1M...it’s a really nice home with all the bells and whistles, fully decked out with complete home automation, outdoor living, subzero appliances, built in theater etc.
NW is 17 min and QO is 7 min.
I wouldn’t blow off the possibility of change. Remember, when rezoning occurs, entire areas shift. Some kids from QO would rezone to NW and open up space at QO. Some kids at NW would shift to Seneca Valley which has tons of space since it’s new.
Lastly, absolutely Toll would drop their price if rezoning occurs...they would have to as the huge draw is the school district. My buddy is building with Classic Homes in the QO district (behind the Mt Prospect area) and his all in was 1M...it’s a really nice home with all the bells and whistles, fully decked out with complete home automation, outdoor living, subzero appliances, built in theater etc.
Anonymous
05/22/2020 19:46
Subject: Re:Mt Prospect in North Potomac
Anonymous wrote:Anonymous wrote:
You all aren’t worried about school rezoning? The possibility really gives us pause.
Rezoning is not happening there.
Calculate the cost of busing from there and it is a no go. Possible to QO cluster for high school but seriously doubt it. That would mean Lakelands middle which is already over crowded. And they are not going to move Frost MS to QO so this is not happening.
That neighborhood is Travillah, Frost, Wootton and that is where it will stay.
Rezoning has financial consequences and this is not one the county is going to move.
Stonemill to Crown later maybe, even that is a huge stretch. MS issues and busing highly doubtful.
Sorry but this neighborhood is right down the road from Quince Orchard. Its much closer to QO than Wootton. If you go down Turkey Foot in the other direction from the development, the boundary quickly becomes Northwest. Mt Prospect is right in an island of Wootton. The area is UMC and if the diversity rebalancing happens I would bet that this area and development across the street along with the houses to the west ends up at QO or NW.
No way are they going to NW. Never ever going to happen. Between elementary clusters and middle school clusters QO will not be an option either. While yes they can drive down Turkey Foot the other issues will make for a no to this plan. It all comes down to money and over crowding of schools.
Now with the virus nothing will change any time soon.
Anonymous
05/22/2020 19:40
Subject: Re:Mt Prospect in North Potomac
I don’t think boundary analysis will change things in the short term because QO so crowded, but if Crown gets built, then anything can happen. If you plan to die in that house, then no worries!
Anonymous
05/22/2020 16:48
Subject: Re:Mt Prospect in North Potomac
Somewhat, I admit. But at the end of the day, any new construction in the area is going to be pushing 1M. If the loss during a rezoning is 10%, so be it. Over the course of home ownership (we are estimating that we'll be in this house for 10-15 years before downsizing), I don't think one can worry about slight fluctuations like that, much less 10%. At the end of the day, it's a nice area, location is perfect for us, new construction, etc.
The impact will be more than 10% if schools change. Reason being, Toll would have to lower their base price by 10% for Phase 2 and 3, so if you’re an early buyer, you will have the most expensive house comparable to other sellers in a market that has now just dropped with newer houses available for cheaper than you paid before rezoning.
I doubt they lower b/c of rezoning. Generally, builders don't modify pricing. Maybe they change incentives but not price. IME.
Builders do lower their prices if the houses don't sell at the price point they put out.
Its really naive to think 10 years would undo a 10%+ drop in value. Many people who bought large expensive homes in that area in the 2006-2008 time frame lost 10%-20% over 10 years and that loss is just based on selling for 100-200K lower than their purchase price. It doesn't include upgrades, renovations, maintenance and replacements that they did along the 10-15 years. Assuming that this area will recover in 10-15 years when the recent history shows it didn't is pretty bad financial planning.
Anonymous
05/22/2020 15:56
Subject: Re:Mt Prospect in North Potomac
Anonymous wrote:I just with for a million bucks you got more than a box!
How do you define a box? They are far from boxes but not really sure what you are looking at?
Anonymous
05/22/2020 15:55
Subject: Re:Mt Prospect in North Potomac
Anonymous wrote:
You all aren’t worried about school rezoning? The possibility really gives us pause.
Rezoning is not happening there.
Calculate the cost of busing from there and it is a no go. Possible to QO cluster for high school but seriously doubt it. That would mean Lakelands middle which is already over crowded. And they are not going to move Frost MS to QO so this is not happening.
That neighborhood is Travillah, Frost, Wootton and that is where it will stay.
Rezoning has financial consequences and this is not one the county is going to move.
Stonemill to Crown later maybe, even that is a huge stretch. MS issues and busing highly doubtful.
Sorry but this neighborhood is right down the road from Quince Orchard. Its much closer to QO than Wootton. If you go down Turkey Foot in the other direction from the development, the boundary quickly becomes Northwest. Mt Prospect is right in an island of Wootton. The area is UMC and if the diversity rebalancing happens I would bet that this area and development across the street along with the houses to the west ends up at QO or NW.
Anonymous
05/22/2020 15:51
Subject: Re:Mt Prospect in North Potomac
Anonymous wrote:Anonymous wrote:Anonymous wrote:You all aren’t worried about school rezoning? The possibility really gives us pause.
Somewhat, I admit. But at the end of the day, any new construction in the area is going to be pushing 1M. If the loss during a rezoning is 10%, so be it. Over the course of home ownership (we are estimating that we'll be in this house for 10-15 years before downsizing), I don't think one can worry about slight fluctuations like that, much less 10%. At the end of the day, it's a nice area, location is perfect for us, new construction, etc.
The impact will be more than 10% if schools change. Reason being, Toll would have to lower their base price by 10% for Phase 2 and 3, so if you’re an early buyer, you will have the most expensive house comparable to other sellers in a market that has now just dropped with newer houses available for cheaper than you paid before rezoning.
I doubt they lower b/c of rezoning. Generally, builders don't modify pricing. Maybe they change incentives but not price. IME.
Anonymous
05/22/2020 15:45
Subject: Re:Mt Prospect in North Potomac
Anonymous wrote:You all aren’t worried about school rezoning? The possibility really gives us pause.
Rezoning is not happening there.
Calculate the cost of busing from there and it is a no go. Possible to QO cluster for high school but seriously doubt it. That would mean Lakelands middle which is already over crowded. And they are not going to move Frost MS to QO so this is not happening.
That neighborhood is Travillah, Frost, Wootton and that is where it will stay.
Rezoning has financial consequences and this is not one the county is going to move.
Stonemill to Crown later maybe, even that is a huge stretch. MS issues and busing highly doubtful.