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Old 06-24-2013, 07:31 AM
 
7 posts, read 26,590 times
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Hello everyone,

My wife and I are currently considering a purchase in the newer Poplar Run Community located where the Indian Springs CC used to be. This would be a first-time purchase for us so I wanted to get some of the community's thoughts on this area. I'm a lifetime Montgomery County resident living everywhere from Gaithersburg to Rockville but have never lived East of 355.

We really loved the neighborhood and how it is tucked away back-off from Layhill Road. It seems that it will be a relatively quiet and safe place to raise a family. Additionally, we can get so much more house at this price point than say Kensington or North Bethesda.

My main concerns are:

1) Will homes in this area priced between 500K-600K hold their value (or appreciate) in the future?
2) The school system: does anyone have any thoughts or insights on Kennedy HS?
3) Overall quality of living in this area -- traffic, safety, conveniences (e.g. grocery stores etc...)

I'd greatly appreciate if anyone who lives around here could offer up some information!

Many thanks!
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Old 06-24-2013, 08:25 AM
 
Location: Sneads Ferry, NC
12,259 posts, read 22,909,581 times
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Quote:
Originally Posted by JAR19 View Post
1) Will homes in this area priced between 500K-600K hold their value (or appreciate) in the future?
2) The school system: does anyone have any thoughts or insights on Kennedy HS?
3) Overall quality of living in this area -- traffic, safety, conveniences (e.g. grocery stores etc...)
We still own a house in Kemp Mill, and have frequently gone to the Shopper's Food Warehouse in the Glenmont Center. (We have followed price trends closely, as we are now selling the house.)

The Kennedy kids are a bit rowdy- I have heard of fights breaking out between girls. Academically, it's mediocre. However, it is part of the Downcounty Consortium which includes Blair. Blair is excellent for the science/math talented student. Kennedy and Einstein also have International Baccalaureate programs for very gifted students. Additionally, by the time your child is old enough for HS, there may be more options.

Traffic is heavy, and will become worse as Poplar Run fills in. The convenience is very good. The stores are mid-range rather than high-end as there are many lower-income immigrants. (It isn't Bethesda!) I think the safety is pretty good. We never had a problem except minor vandalism in the 28 years we lived in Kemp Mill.

I hope you plan to stay in the house at least 5 years. Your price range of $500-600K is high for the area. I think, if you tried to sell the house next year, that you would not get your money out. However, over 5 years it will appreciate, as I think the community has a great concept. The preserving of open space is great, and the proximity to the ICC and public transit will keep the community attractive.

Last edited by goldenage1; 06-24-2013 at 08:53 AM..
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Old 06-24-2013, 09:17 AM
 
7 posts, read 26,590 times
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Quote:
Originally Posted by goldenage1 View Post
We still own a house in Kemp Mill, and have frequently gone to the Shopper's Food Warehouse in the Glenmont Center. (We have followed price trends closely, as we are now selling the house.)

The Kennedy kids are a bit rowdy- I have heard of fights breaking out between girls. Academically, it's mediocre. However, it is part of the Downcounty Consortium which includes Blair. Blair is excellent for the science/math talented student. Kennedy and Einstein also have International Baccalaureate programs for very gifted students. Additionally, by the time your child is old enough for HS, there may be more options.

Traffic is heavy, and will become worse as Poplar Run fills in. The convenience is very good. The stores are mid-range rather than high-end as there are many lower-income immigrants. (It isn't Bethesda!) I think the safety is pretty good. We never had a problem except minor vandalism in the 28 years we lived in Kemp Mill.

I hope you plan to stay in the house at least 5 years. Your price range of $500-600K is high for the area. I think, if you tried to sell the house next year, that you would not get your money out. However, over 5 years it will appreciate, as I think the community has a great concept. The preserving of open space is great, and the proximity to the ICC and public transit will keep the community attractive.
Thanks, that is some valuable input you have given me.

Heavy traffic is a concern. We are currently living in Rockville/North Bethesda. My wife works in Ballston, I am more worried for her commute than mine as I work in Rockville.

To address your final note - yes, we plan to be in the house at least 5 years if not closer to 10.

We have no children yet, so I did consider that by the time they were of HS age we would potentially be in the market for a different property.

Are you aware of any further development plans in that area whether they be residential, commercial or mixed-use?

Thanks again for taking the time to respond as we obviously have a large decision in-front of us!
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Old 06-24-2013, 09:25 AM
 
Location: Sneads Ferry, NC
12,259 posts, read 22,909,581 times
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Originally Posted by JAR19 View Post
Are you aware of any further development plans in that area whether they be residential, commercial or mixed-use?
I am not aware of development plans, but I can't keep close track from my retirement home. The residential lots in Glenmont are pretty well filled in. I think that if demand increases, some of the lower-rent apartments will be bought up by developers for higher value residences. I think that would probably be an improvement.

I also believe that Poplar Run itself will contribute to improving the area by bringing in higher-income residents. It's a good location for people who work in Laurel but want Montgomery County schools, for example.

I hope you do decide to buy at Poplar Run.

A final note is that the Glenmont Metro parking garage fills up very quickly. If your wife commutes by Metro, she would need to be dropped off or take the bus unless she can get a reserved spot.
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Old 06-24-2013, 09:28 AM
 
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I visited these houses/townhomes 3 weeks ago. GORGEOUS. Massive as well, something around 3000 square feet. The price is a bit high, and this is just me, I'm no realtor, but I think if a house is priced at $600K, there's very little room for appreciation. I don't think these homes are ever going to be valued higher than they are now, but that's just my opinion. You're either going to break even or lose money. My girlfriend's mom lives 4 minutes from there, she got a house for $600K a few years ago and I think the value is around $400K now.

As far as the development plan is concerned, there's two developers, Winchester and Emerson, I believe. They are in Phase 1, and I believe this project is suppose to last another 4-5 years (so you still have time). They're adding three pools, a playground, etc. More townhouses and single family homes as well. It's a great plan, just don't agree with the price. Even the townhouses start in the 400's.
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Old 06-24-2013, 09:43 AM
 
7 posts, read 26,590 times
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Originally Posted by goldenage1 View Post

A final note is that the Glenmont Metro parking garage fills up very quickly. If your wife commutes by Metro, she would need to be dropped off or take the bus unless she can get a reserved spot.
She drives. The cost and time trade-off of taking the metro vs driving to that part of Arlington is mox-nix. She drives-in early enough that her morning commute is not bad as is, however, it is the evening rush-hour that is the killer.
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Old 06-24-2013, 09:45 AM
 
7 posts, read 26,590 times
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Originally Posted by DomRep View Post
I visited these houses/townhomes 3 weeks ago. GORGEOUS. Massive as well, something around 3000 square feet. The price is a bit high, and this is just me, I'm no realtor, but I think if a house is priced at $600K, there's very little room for appreciation. I don't think these homes are ever going to be valued higher than they are now, but that's just my opinion. You're either going to break even or lose money. My girlfriend's mom lives 4 minutes from there, she got a house for $600K a few years ago and I think the value is around $400K now.
What community is your girlfriend's mother's house in?
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Old 06-24-2013, 09:46 AM
 
Location: Sneads Ferry, NC
12,259 posts, read 22,909,581 times
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Quote:
Originally Posted by JAR19 View Post
She drives. The cost and time trade-off of taking the metro vs driving to that part of Arlington is mox-nix. She drives-in early enough that her morning commute is not bad as is, however, it is the evening rush-hour that is the killer.
I used to drive to Ballston from Kemp Mill. In the AM, I usually drove through Rock Creek Park and out I-66. Evenings were always worse.
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Old 06-24-2013, 10:12 AM
 
2,149 posts, read 3,858,539 times
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Originally Posted by JAR19 View Post
What community is your girlfriend's mother's house in?
Not a housing community per se, it's off Bonifant road. She told me how much she paid for it, and b/c I was curious I took a look at how much it's worth now. She'll lose money if she sold it. And the house isn't in the best condition as well. My two cents, but it's very hard for a 600K house to go up in value, then you have to ask yourself after all the fees, is it worth selling your house for $100K more than you got it for...probably not. Also the location as well (looks like it has the potential to be a great community but other than that?)...I told myself if they were building these houses in DC proper, they would probably start off at $1 million.

It's def worth the $ if you plan on making this your home for the next 15-20 years, but if you're looking at it as an investment and are looking to sell in 10, it's risky. You just don't know how the market is going to be 10 years from now. My girl's mom home value has dropped almost $200K, and is projected to lose another 1% in value w/in the next year.
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Old 06-24-2013, 11:13 AM
 
7 posts, read 26,590 times
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Quote:
Originally Posted by DomRep View Post
Not a housing community per se, it's off Bonifant road. She told me how much she paid for it, and b/c I was curious I took a look at how much it's worth now. She'll lose money if she sold it. And the house isn't in the best condition as well. My two cents, but it's very hard for a 600K house to go up in value, then you have to ask yourself after all the fees, is it worth selling your house for $100K more than you got it for...probably not. Also the location as well (looks like it has the potential to be a great community but other than that?)...I told myself if they were building these houses in DC proper, they would probably start off at $1 million.

It's def worth the $ if you plan on making this your home for the next 15-20 years, but if you're looking at it as an investment and are looking to sell in 10, it's risky. You just don't know how the market is going to be 10 years from now. My girl's mom home value has dropped almost $200K, and is projected to lose another 1% in value w/in the next year.
I see. I wouldn't say that I am looking at this as a short term investment - definitely as a place where we would start and grow our family. My concern here would be the hope that these homes do not depreciate greatly. Where-as in 10 years IF we decide we want to move to a different neighborhood we aren't taking a loss. A break-even would be great - if we could make a little money on it then that would be even better.
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