MCM real estate update

When we bought our home in June 2021, I thought that the real estate market had peaked and was on its way down. I assumed the market would return to a more level playing field and the average first time home buyer would begin to see a path to ownership. And yet, COVID did not subside in the ways we would have hoped, inflation grew, interest rates stayed low, and the market continued in an upward trajectory. Here we are in January 2021 and the economists claim that we are still not in a bubble. They do expect prices to slow significantly this year, especially as interest rates rise. And with the high price of goods due to inflation and supply chain issues, the average American has less disposable income and will be less likely to splurge on a home.

And while it's unlikely that prices will sky-rocket again, economists also say that there's a low likelihood they will decrease so we may headed for a more steady market, but certainly not a crash. This is good news for the seller and the high-income buyer. However, if you already feel iced out of the market, this might not change anytime soon. One of my favorite "research" activities is to cruise on redfin for recently sold MCMs in the area in the last three months. I also like to keep an eye on Portland, Oregon, where I am from as there are many unique MCM homes with more of a northwest vibe. Today I'm sharing my favorite homes that have sold in the last six months in the DMV and one for sale in the Pacific Northwest (PNW):

3307 Pendelton Dr., Silver Spring, MD

Despite buying a house in Holmes Run Acres that we are mostly renovating on our own with input from my aunt, I continue to be a big fan of architect, Michael Cook, a well-known MCM-restoration architect in the area. This past year, he renovated two Charles Goodman homes in Hammond Wood, one of which Ryan and I were interested in purchasing during our search. Unfortunately the timing was a bit off but the home finally went on the market in October 2021 and recently closed this month. See more photos on redfin, it's an incredibly unique home with beautiful windows and design.

10102 Parkwood Ter. Bethesda, MD

I loved this beautiful, woody, natural-feeling home in Bethesda and knew it would go for over a million ($1,050,000), despite being under 2000 sq. ft. The home is in a great area, was recently updated, and is very much in line with my love of neutral tones and organic fabrics. More on this stunner on redfin.

2201 Paul Spring Rd, Alexandria, VA

Hollin Hills is one of the neighborhoods we spent hours driving around, reveling in the striking architecture and floor to ceiling windows. Most of the homes were out of our price range or required significant work so we did not look at too many houses in this area. When this one went on the market, I was smitten but did not even let myself go look. It went for $1,020,000. More photos here.

4002 Rickover Rd, Silver Spring, MD

A great entertaining space.

Loved the exposure to the outdoors.

A streamlined, modern kitchen, the home had been reconfigured to fit a more contemporary lifestyle.

The owner had impeccable taste and MCM pieces from all over the world.

Laundry room of my dreams...

I can't leave out my favorite MCM neighborhood in Maryland, Rock Creek Woods. This home was like... the home of the decade in Rock Creek and went for $1,155,411, far exceeding other home prices in the area. If it had been a different time, I think we might have bought a home here but there were two major issues - the prices were skyrocketing in this neighborhood and many of the homes were on slopes and offered very little yard. If we stay in the DMV and knowing what we know now, I think we would probably look to be in Sligo Creek, Woodside Park, or Bethesda so perhaps this will never happen for us. More photos here.

If you're in the market in the DMV or PNW, here's two gorgeous homes to take a look at:

3906 SW Altadena Ave, Portland, OR

Asking $950,000

11705 College View Dr., Silver Spring, MD - renovation by Cook Architecture

Asking $799,000

How are you feeling about the housing market? What do you think will happen next? Despite the challenges, there are still many MCM homes out there and people pick up their lives and move all the time!