Rockville is known for its seat of county government, cultural relevance, burgeoning retail and growing diversity. It is a wonderfully balanced city with great services and a broad range of communities and neighborhoods. In terms of housing, there is also a wide range. The Faulkner Team has deep experience in Rockville and has represented buyers and sellers in many Rockville transactions. The housing market is relatively stable in Rockville compared to other markets in Montgomery County. There is outstanding value particularly in the eastern part of Rockville (Derwood), and a strong mix of retail and quiet residential in the western side (Fallsgrove and Traville). But perhaps the most dynamic growth is occurring in the center of Rockville with the addition of new rental housing and additional townhouse developments near Metro and Rockville Town Center.
Rockville has always been recognized for its excellent schools. Because of that, and the quality of life in Rockville, the latest real estate statistics of 9 to 18 median “Days on Market” in the most active sections of Rockville reveal a trend of consistent strong demand for homes in these areas. We also notice that “Greater” Rockville has a “Median Sold” price of $417,500 which is within 3% of last year at this time. These quick stats show that Rockville can bring a solid return to longstanding homeowners, but it can also bring good value to buyers. Because homes in the sought after communities within and around Rockville are of varied age and renovation status, and since they tend to be grabbed up quickly, we recommend you have an experienced, highly-networked real estate team to guide your sale or purchase: www.faulknerteam.com.
Is There a Silver Lining in the Montgomery County Property Tax Hike?
NO! Montgomery County seems to enjoy tax hikes. One of the reasons we experience a high quality of life in the County is because the Council feels they can pay for anything with a simple tax increase. We residents howl every time, but we absorb the increases and reelect our leaders. What is the alternative? In my opinion, the County could use a couple of years of fiscal restraint and review of current services to ensure our current tax revenues are being spent wisely. In real estate, I don’t want to see our current homeowners and upcoming new residents being taxed out of our market. GCAAR, MAR and many other real estate industry groups fought this increase. So here we are…8.7% increase in property taxes.
YES! The Council claims the additional money is needed for schools. Current facilities need repair, and new schools need to be constructed in order to meet the rising enrollments. That must mean the residential real estate market will continue to be solid in Montgomery County: new residents equals new homes; new schools mean more home sales; improved schools in an already-fantastic school system equals increased demand and rising property values, ie, better sales. STILL, C’MON…..8.7%?!?! STEVELONGLEY.REALTOR@GMAIL.COM