Home Buying in Rockville>Question Details

Ironmonkey, Home Buyer in Rockville, MD

Seems like the only new construction in Rockville is Chestnut Lodge off W Montgomery Ave. Any others? Why is pricetag so high?

Asked by Ironmonkey, Rockville, MD Thu Jul 12, 2012

The Chestnut Lodge houses go for $925k-965k before any upgrades, and do not come with finished basements. I also understand that the property taxes for these homes run close to $12k annually, plus there is a $300 monthly HOA fee. Is it me, or does all of this seem rather overpriced/expensive? Why does Zillow.com estimate that the houses are only worth $860k or so? I like the houses and the location, but have troubles justifying the high pricetag...am I missing something?

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6
Sunita Trehan’s answer
Very few lots are available and if you work with a builder you can save money. I have a lot and I am working with a few builders to build a house and then sell it.

If you are interested you can contact me @ sunitatrehan@yahoo.com

I have a large lot (12000sf) for the price of (compare to) 6000-7000sf with option to use back ally entrance lots , City's active lifestyle, Entertainment for whole family-Theaters, restaurants, library, weekly live entertainment and annual wine tasting and other festivals, community swimming pool, park and playground, short walk to downtown Rockville, shopping, government offices, transportaion to Shady Grove Hospital, Universities at Shady Grove, Bio-tech companies. Easy access to Rt. 270, Metro and local transportation and attach the map showing 270 and other locations.

Compare to Vienna, VA., Bethesda -Rockville is one of the most desirable living areas, particularly for the mid-upper income professionals like -Attorneys, healthcare professional, healthcare R&D professionals due to closeness to SG Hospital and Bio-tech area. Take a stroll down the new shopping circle in downtown Rockville you'll love it -it's better than Bethesda, MD or Vienna,VA.
0 votes Thank Flag Link Mon Oct 29, 2012
You may have answered your own question. Supply and demand. You cannot count on Zillow to give you accurate pricing unless you are looking at established neighborhoods with similarly styled, age and sized homes. Nor can it take into account the market conditions in an area including demand and supply.
0 votes Thank Flag Link Thu Jul 12, 2012
I never count on what Zillowp comes up with for property values. I have seen them value homes at 250,000. when they are selling for 400,000.
Chestnut Lodge is expensiv for one simple reason.... Location. Not only is it located in the historic District of Rockville it is close to Offices and the DownTown area of Town and is in the City Limits of Rockville. Al these factors together will drive up prices.
If you are looking in Rockville there are a few other Communities building new homes for less. The Preserves of Rock Cree and Rock Creek are two of them.

If you would likei nformation on either of these Communties feel free to give me a call or email me and I will send yu moe information.

Sincerely,
Stephanie Corley
0 votes Thank Flag Link Thu Jul 12, 2012
Rockville is one of those 'prime' living areas, particularly for the mid-upper income clients (ie: Attorneys, etc). It's walk-to shopping, restaurants and the like have made Rockville more desireable than ever. The County has renovated,refaced or even built more family-friendly settings, Take a stoll down the new shopping circle in downtown Rockville and you'll see what I mean.

If you heart is set for this area and you're not ready to pay the exhorbinant prices, give me a call and we'll see what we can find 'close' to Rockville. There ARE other new construction properties - just have to know where to look.

All the best,

KJaren-Ellen
0 votes Thank Flag Link Thu Jul 12, 2012
I have a house and a lot in Rockville - close to Shady Grove hospital, Bio-tech center, NIH and downtown Rockville. I am talkibng to three builders also to construct a new home on 50'x246' deep lot that has access from front as well as from back alley. I have a house in City of Rockville too. I want to sell both properties. Lot and the hous is side by side. The three level Craftsman style house is original 1950s with huge detached double car garage with walkout finished basement -total 6 bedrooms and three baths. Very reasonable price of $795,000! You can not beat the price for two properties for the price of one. Contact me @sunitatrehan@yahoo.com

A large lot (12000sf) for the price of (compare to) 6000-7000sf with option to use back ally entrance lots , City's active lifestyle, Entertainment for whole family-Theaters, restaurants, library, weekly live entertainment and annual wine tasting and other festivals, community swimming pool, park and playground, short walk to do
Flag Mon Oct 29, 2012
Real Esate 101....location, location,location. Not much land left for any sizable building projects anymore.
0 votes Thank Flag Link Thu Jul 12, 2012
It seems like you know the area! If you have a clients contact me @ sunitatrehan@yahoo.com
I have a lot and a house in city limits. i am waiting for the tenant to move out then I will fix it and sell it.
Flag Mon Oct 29, 2012
Hi there, there are other new construction homes in Rockville. Take a look at the link below for the complete list.
0 votes Thank Flag Link Thu Jul 12, 2012
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