seanmdunbar, Home Buyer in Rockville, MD

My wife and I are considering buying a property in the 20851 zipcode. Is that area expected to expand/develop/renovate in the coming years?

Asked by seanmdunbar, Rockville, MD Wed May 15, 2013

We're hesitant that the lace we're considering is more highly priced/valued than its immediate neighbors in the Rockcrest subdivision and worry that potentially reselling down the line will be problematic. Any insight on the future of the 20851 neighborhood, Lewis Ave in particular, would be extremely helpful! Thanks.

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11
Greg Myers, Agent, Gaitherburg, MD
Wed May 15, 2013
As a general rule you don't want to buy the most expensive home or the least expensive home in a neighborhood if the home your considering sales price falls above or below the median sales price significantly. The exception to this would be highly desirable schools such as Richard Montgomery H.S. and the middle school that may feed into into R. M. H. S.

A home which has been re-built and the above grade square footage increased to point where the home is " improved" for the average sized home for the area could add $$$ future value depending on what was improved on the home. If the home was "Over Improved" you may not reep the future $$$ rewards you may expect.

Not sure which home your considering but having the listing info would help answer your question completely.

Greg Myers
Re/MAX Realty Group
2 votes
Sean,

You can email me....gregorymyers@mris.com
Flag Wed May 15, 2013
Sean,

I looked at the listing info and see two major issues I want to shall with you.

Greg...301-906-0504
Flag Wed May 15, 2013
I will and get back to you shortly.

greg.....301-906-0504
Flag Wed May 15, 2013
Thanks Greg! The specific listing is MC8056689. Not sure if this helps clarify any of your feedback above.
Flag Wed May 15, 2013
brent mendel…, Mortgage Broker Or Lender, Bethesda, MD
Wed May 15, 2013
Sean,

I sure hope so as we own a home in 20851 ourselves. As Jon mentioned you have White Flint, you have some smaller development around the Twinbrook Metro, Rockville Town Center and while I haven't seen anything on this lately there were plans to revamp Twinbrook shopping center AND Burgundy Park to a lesser degree. And we aren't even discussing the plans they have for the entire 355 corridor coming down the pike. The Realtors all know better than I about how that could affect values but to me there isn’t a downside. Perhaps some traffic congestion but there are plans in place to try and mitigate their affects. Hope this was helpful.

Thanks,

Brent Mendelson
Senior Loan Officer
1ST Mariner Mortgage
O-240-235-5314
C-301-412-0259
F-240-235-8236
Bmendelson@1stMarinerbank.com
Lending in all 50 states
nmls#111407
2 votes
Piero Marinu…, Agent, Silver Spring, MD
Wed May 15, 2013
Sean,

That neighborhood is convenient to a lot of places, and the major centers at nearby Metros are growing (Rockville & Twinbrook). All of that activity will continue to provide price support in the area.

That said, I'm not sure you'll see renovation/expansion in that specific neighborhood. It's a perfect place for a starter home (in terms of size), and it's surrounded by plenty of retail and commercial spaces which makes it attractive.

Definitely be aware of the railroad tracks. Any homes closest to those should sell at a discount to the rest of the neighborhood.
2 votes
BJ Matson, Agent, Potomac, MD
Wed May 15, 2013
Brent and Jon below give great info on the area... Rockville is forever 'growing'. It is a highly desirable area and we are at the beginning stages of a resurgence we're seeing with prices. You will pay a premium to get it, no doubt. If you won't be considering a resale until way down the line, the odds are in your favor.

20851 listings;
http://www.choicerealestate.net/20851.php


BJ Matson
301-257-1270 call/text
Remax Town Center
1 vote
Jonathan Lah…, Agent, Potomac, MD
Wed May 15, 2013
Hi, areas around 20851 (Lewis Ave) will be affected by the growth in 20852 and 20850. 20852 (White Flint) is going through redevelopment/revitatlization plan right now, and 20850 (Rockville Town Square) as you can see is already growing.

Two things you want to keep in mind is that the railroad tracks run parallel to Lewis Ave...

1. make sure you are okay with the noise level.
2. when it's time to sell it, future buyers of the home will have the same concern
1 vote
John Doller, , 21136
Wed May 15, 2013
Sean,

Sorry that area is out of my service area. I'm not familiar with that market.
1 vote
Toni Sherman, Agent, Pikesville, MD
Thu May 16, 2013
Sean,
You can check with Park and Planning by calling 301 495-1320, or going there. They are located in Silver Spring. They can inform you of any changes happening in the area. Here is their web site http://www.montgomeryplanningboard.org/

On the selling end, buyers and agents will always look at comparable's and other homes that are similar to determine value. Price is determined by comparable's, condition and location. If the comparable's support the price then an appraiser will look for three like homes in the subdivision or with in a one mile radius to do his appraisal.

If you purchase a home the bank will do an appraisal on it ,and if it does not appraise then the seller and buyer will sometimes have to re-negociate the price. This is to make sure the home is worth what the bank is lending for it. It also protects you. If you need any other assistance feel free to call me at 240-778-4401.
Toni Sherman
Real Living At Home
0 votes
Christine Sh…, Agent, Silver Spring, MD
Wed May 15, 2013
You can go onto http://www.montgomerycountymd.gov and view the Master Plan but any property in Montgomery County is appreciating. I grew up in Rockville and I've lived in the area 57 years, so I know the neighborhoods if you need help.

Christine
0 votes
Karen-Ellen…, , Rockville, MD
Wed May 15, 2013
Good question! If you could give me the property address I will look up the listing along with the other information I need to make an informed decision. Please forward the address to my email:
Karen@100percentrealtors.com
I will get back to you before the close of business today, if I have the address w/in the next hour.

My best,

Karen-Ellen
0 votes
Kerry Roth, Agent, Gaithersburg, MD
Wed May 15, 2013
I am a ROCKVILLE expert and would love to have a in depth conversation about your desires to move into the 20851 zip code. Please feel free to contact me and lets have a talk! I am ranked #21 in the Central Atlantic Region and have over 15 years experience in this area. I am a very active and keen negotiating agent who will guide and educate you through the entire process. I look forward hearing back from you soon!
0 votes
Greg Myers, Agent, Gaitherburg, MD
Wed May 15, 2013
Sean,

I sent you a reply.

Greg Myers
RE/MAX Realty Group
0 votes
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