Property Q&A in Potomac>Question Details

Fayaz Karim, Home Buyer in Washington

Is this house really worth $5.9 million?

Asked by Fayaz Karim, Washington Sat Feb 21, 2009

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This question is about this property: http://www.trulia.com/property/photos/1058711766-10108-Iron-…

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Fayaz -- It's now listed just under $5.5M. The developer/builder paid $1,150,000 in 2002 for the lot (with an older home). It's a great home, but is is "$5.5M Great"?

To answer your question, I would first line-up your requirements to the current market. There's nearly 150 homes available in Bethesda, Chevy Chase and Potomac priced over $2M. As with any home, it's worth what a buyer is willing to pay. There's so much on the market right now, you may well find equally "great" homes that meet your needs for quite a bit less.

Here's some basic stats on upper bracket homes in Potomac - http://mocorealestate.com/2009/04/01/the-lure-of-bargains-in…

I hope that that helps.
0 votes Thank Flag Link Wed Apr 22, 2009
It appears to be comparable to other homes built nearby. You should see it and other similar properties that have sold in the area to judge for yourself.

Hill Slowinski
0 votes Thank Flag Link Wed Apr 22, 2009
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