Home Buying in Gaithersburg>Question Details

Krishna, Home Buyer in Olney, MD

i like a townhome at bays ridge gaithersburg md. The home was built in 1988 . Will be there any appreciation 10 yr from now?

Asked by Krishna, Olney, MD Thu Apr 18, 2013

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8
Magic 8-ball says...?

Your odds are pretty good. In the meantime you'll enjoy the benefits of home OWNership.

http://www.choicerealestate.net/bj-matson.php
301-257-1270
2 votes Thank Flag Link Thu Apr 18, 2013
Seriously? Do you really think anyone can answer this question?
1 vote Thank Flag Link Fri Apr 19, 2013
Yes you will have appreciation. Tracking the D.C metro area going back to the late 70's the D.C area market has 5-6 years of appreciation followed by 5-7 years of market adjustment. To expect 10 years of appreciation only is a bit optimistic.

Greg Myers
RE/MAX Realty Group
1 vote Thank Flag Link Thu Apr 18, 2013
I have sold in the Fernshire Farms neighborhood and the homes have appreciated nicely.
I sold a house on Sioux Lane in 2010 and then my clients sold the house in 2012 and realized a $50,000 profit. It is in the Quince Orchard High School cluster which is always sought after.
Homes in Montgomery County for the most park maintain their value due to the government, military and bio sciences of which Fernshire Farms is in very close proximity to Medimmune, which is a very large employer in the area.
1 vote Thank Flag Link Thu Apr 18, 2013
Krishna,

No one can tell the future. Ten years ago home prices were steadily rising. No one would have thought the market would have changes so drastically. Again, many other factors come into play when you are deciding to purchase a home.

Remember: The home buying process should be a marathon, not a sprint. Keep looking and keep asking questioins, everything will fall into place and you'll find the right home for you and your family.

Bridgette L. Chase
Associate Broker | Exit Bennett Realty
301.974.7110 | mobile
0 votes Thank Flag Link Fri Apr 19, 2013
Hi Krishna,

No one can tell for sure what the future will hold. but historically, the homes have appreciated. you can also check for yourself and look at the prices have sold from 1988 to present.

if you need assistance feel free to contact me.
0 votes Thank Flag Link Fri Apr 19, 2013
No one knows the future. It can go down also.
0 votes Thank Flag Link Fri Apr 19, 2013
Krishna - it is really hard to predict appreciation ten years out (and you should run - quickly- from anyone who promises you appreciation because they either do not know what they are talking about, OR they do not have your best interests at heart). However, we have been in a down market for the last 6 years, and economists - and consumers - are predicting that the housing market is beginning to recover. Prices are actually below their real value at this point, interest rates are very low, and inventory is almost non existent. I think that there are real reasons to buy now and that this market is trending up right now. That can all change in a heart beat - but right now, I think that the buyers who buy now will be glad that they did. Just remember, that there will never be any more land, but there probably will be more people so there will always be pressure on the amount of land available for housing.
0 votes Thank Flag Link Thu Apr 18, 2013
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