Category Archives: Micro-Markets

The Lauren & The W Residences

If you’ve walked around downtown Bethesda, you’ve the seen the sign. The one that says “Starting in The Multi-Millions” 🙂  Despite the delays (a story for another day!), and despite what I find “amusing” about the sign, the final plans for These Residences was a bold statement.  And when they sell, an even more prnounced message.   If you build “it”, they will come.

The Lauren Residence’s “It” Factor

These are the products developers forgot to build.  The large 2 bedrooms, 3 bedrooms, other developers didn’t have the courage or “market research” to build. Bravo 1877 Holdings and company.  And you’re welcome… 🙂

The large 3 bedroom Condos + Bethesda = Sales

Aside from the smaller 2 bedrooms, The Lauren will sell in a flash.  Gretchen Koitz (Mom) and I saw the growing demand for large 3 bedroom Condos in the Greater Bethesda area — reach a fever pitch.  I’m not saying we were ahead of our time, well yes I am 🙂  

So you’re welcome 1877 Holdings….you did Quarry Spring all on your own.  But the next time you have a project concept, I’m open for counsel 🙂

In all seriousness, it took a coalition with visions and some courage to build a product that was clearly in demand.  And to all 3 of you who follow this blog, many thanks, and continue to hold me to my predictions.  I like to be help accountable.

So why does Greater Bethesda Needs a Condo Residence?  Feel free to read more about how I resided on the  issue.

why Bethesda Needs a W Hotel Condo Residence – November 14, 2009

Every area has slightly different housing needs — and if there’s one type of property the Greater Bethesda area is begging for, it’s the 2000 sq. ft.+ luxury condo. In this particular case, I picture a Boutique W,  with approximately 40 hotels rooms and 30 residences…all 2000-5000+ square foot units (the residences, that is). The upscale Hotel / Residence is the epitome of the “lock and leave” convenience, with the “resort style” living many are asking for.

More to come on The Residences Lauren and other new developments (that do it right!) – just wanted to set the record straight.  Hope everyone had great weekends!

In Which County is Bethesda Located

A question I receive quite often from those moving on in! It’s great question, one which speaks to the popularity of Bethesda.  It’s as if Bethesda defines the county…or perhaps more accurately said, is better known than the County…

Montgomery County MD Map
Note Bethesda to Northwest DC - Picture Courtesy of of LIFE SEARCH tool (top navigation menu). Feel free to give it a try!

Answer: Montgomery County, Maryland…one grandiose “area” that desserve a little more information.

Montgomery County Is…

  • “Moco”: yes :-)… Moco is nomanclture some use when refering to Montgomery County – we love our “acrynyms”
  • “Moco” is Maryland’s largest county and one of the nation’s most affluent…
  • It borders Washington, D.C. to the South and the Potomac River on the West.
  • The Southern area, probably 1/10th the size of the county, is often the “Greater Bethesda area”.
  • Houses the National Institutes of Health, the Federal Drug Administration, the National Oceanic and Atmospheric Administration and a corridor “high tech” industries, the county is a large employer in its own right and attracts Washington workers
  • There is an abundance of recreational and cultural facilities and the county is known for its extremely well respected public school system.
  • The Metro subway system serves much of the county and there are areas, such as Bethesda that are known for their fine dining opportunities.

Montgomery County / Greater Bethesda Real Estate – The Nitty Gritty

Downtown Bethesda Townhome
The City Homes of Edgemoor, in The Heart of Downtown Bethesda fetch $1M+ because of proximity to Metro and the Downtown bethesda core.
  • The county affords every type of housing imaginable – from high rise condos to tree lined single family neighborhoods, to working farms. It’s all here!
  • The most expensive areas in the county lie closest to the city line…”the Greater Bethesda area”.
  • When many people are asked to define The Greater Bethesda area, most will include Bethesda’s adjacent towns, Potomac and Chevy Chase, Garrett Park, Kensington (don’t worry, we have guides on this site for all these areas!).

Greater Bethesda Home Prices = Location and DC Accessibility

There are nuances to all these areas the county but since the question referred specificaly to Bethesda, let’s talk Bethesda!

There are nuances to different neighborhoods which have direct correlations to home prices…the “Micro-Market”.  Proximity to metro, demand for property types in a certain neighborhoods, …will vary not just in these large towns, but the neighborhoods.

Interested in more information about Montgomery County and the Greater Bethesda area? We have both tools and some pretty decent agents 🙂 working behind the scenes more than happy to answer questions / help educate. Feel free to call or e-mail, leave a comment any time.  Great days to all…

Jameson Bethesda Modern Luxury Home Back On

Bethesda Modern Home Update (as we  know there are only  a few)…

I  just noticed a familiar and attractive Modern Home going though the MLS .  It’s only been a couple years since it first sold, but all the better for the rare Bethesda modern home buyers / seekers.  This 4 bedroom 3.5 bath David Jameson Modern made the most out of the modest corner lot – boasting a pool and center courtyard.  I remember the courtyard but I’d have to go back and check records as I don’t remember it originally having a pool.  Even more hardscape + Jameson + Bethesda = exciting…however

[idx-listing mlsnumber=”MC7563252″ showall=”false”]

….I’d encourage you those seeking Downtown Bethesda (Edgemoor) and Modern Modern luxury living to take a look at 5104  Hampden…

[idx-listing mlsnumber=”MC7534469″ showall=”false”]

Downtown Bethesda’s Next Boutique Development

Downtown Bethesda’s Next Boutique Development?

Some potentially exciting news for those of you looking for the rare Downtown Bethesda townhome.  With only 58 total in the downtown Bethesda core (between the Villages of Bethesda and The City Homes of Edgemoor), it would be refreshing to see a few new, “lower density” products out there.

Proposed Site of Bethesda Townhomes - Next to Edgemoor Condos
Proposed site of 4 new Downtown Bethesda Townhomes - Next to Edgemoor Condos

And what if one of the area’s premier builders in the area had their hand in/on the project?  It appears (“appears” being the operative word!) that indeed, Sandy Spring Builders builders got their hands on some coveted Montgomery Lane land and are planning on building.  I should have more info in the next few weeks, but I’m pretty clear on the fact that they’ve purchased one parcel (it would be great if they could get their hands on more!) and propose to build in the next few years.

City Homes of Edgemoor - Bethesda Townhomes
The City Homes of Edgemoor Phase II Downtown Bethesda townhomes built in 2000

What seems clear:

Sandy Spring is going to build townhomes on the Montgomery Lane Corridor of Downtown Bethsda

What I think I know

Sandy Spring acquired a corner lot at West and Montgomery.  The parcel will evidently hold 4 townhomes.

Sandy Spring’s History With Downtown Bethesda Townhome Development

– Sandy Spring built the second phase of the “City Homes of Edgemoor” (the last two rows) in 2000.  So they know the lay of the land well.  They also have a dominant share in the single family custom market in the downtown Bethesda area.
–  In the Mid 2000s, they were oh so close to putting an assemblage together that would’ve allowed them to build (7 units?) on Arlington Lane.  All were slated to be +/-3000 square feet with elevators and rooftop decks.

I didn’t think prices in Downtown Bethesda would ever allow a developer/builder the opportunity to build a townhouse again. That is, condo development would be the only property type that would allow the kind of density needed to  justify the cost of aforementioned land!

At the same time…
Sandy Spring has been ahead of the curve for some time now.  From their new Classic modular luxury home line to an organized, smart, and attentive staff, I see why this would be right up their alley.

Not to mention downtown Bethesda condo developers are clearly reticent to step into the ring again (or already lost their shirts).
I’ll leave this for another day, but any Downtown Bethesda condo developers who are just sitting on their land right now are showing, again, just how lost they are.   When I get lost, I at least ask for directions.  Looks like Sandy Spring already has them…that is those plans I saw 6 years ago, they’ll prove again that if you build what they want, they will come.