Ever considered moving to Bethesda, Maryland? Well, if you have always wanted to relocate to Bethesda but couldn’t afford it, your day might be coming. Why? The Bethesda housing market might be taking another hit in the very near future.
Bethesda, Maryland is one of the wealthiest suburbs of Washington, DC. It actually has the highest median family income in the entire nation – about $114,000. The city also has the fifth highest median home price in the country – $417,000. But, this position may change in the third quarter of 2012. What might this mean for you?
If you already live in Bethesda, Maryland news of the falling housing prices isn’t going to be good for you – especially if you want to sell your home and move to a new area. But, if you don’t already live in the area or are interested in buying a home in Bethesda, you might be able to find a really good price in the next year or so.
Overall, experts project that the housing prices will drop by about 12% in the next year. That translates to another drop in house prices of about $60,000.
So, if you have recently bought a home in Bethesda, you might want to hang onto it for a while – at least for five or ten years. If you haven’t already sold your house, perhaps you might want to take it off the market, if you can.
Lance Grooms.
