[RP TownTalk] Zip Code Change

[Bruce Wernek]

Jonathan, et. al.

 

I've lived in this Town for ~25 years and the demographics have changed
significantly over the last decade.  Riverdale has been attracting young
families for quite some time now.  You haven't lived here long enough to see
this change.  Take yourself and Ashley as examples.  Both of you bought
here.  Why did you buy your house on Oliver St?  If you wanted higher
property values, you could have bought in College Heights Estates or Calvert
Hills.  I'm guessing the reason you bought here is that it was more
affordable and you got more bang for the buck.

 

One of the things that attracts young families to a community is affordable
housing and that we have in Riverdale Park.  You are essentially advocating
higher priced housing and claiming that it attracts "young, vibrant new
families".  I don't agree.  Young, vibrant new families often can't afford
high priced housing and, as Chris Currie pointed out, they choose Riverdale
Park.  I want these young families to move into this Town.  This is exactly
what we need and this is exactly what has been and is happening.

 

I noticed you referenced in your email that "the town has been pursuing a
zip code change over that last 6 months".  Are you the one that introduced
the legislation to do this?  What is the status of this activity?  I want to
make it clear that I don't want my tax dollars used for this purpose.
Rather, use those dollars to fix the brick inlays on the sidewalks all over
Town.  The bricks have settled in many places and are a hazard to
pedestrians particularly the handicapped.  Making meaningful improvements to
the Town and infrastructure is a great way to increase property values much
more so than a zip code change.

 

If any of you on distribution feel as I do on this zip code issue, I urge
you the contact your elected officials.  As far as I'm concerned there are
plenty of better things to do with our tax dollars to improve our community.


 

Bruce

 

From: towntalk-bounces at riverdale-park.org
[mailto:towntalk-bounces at riverdale-park.org] On Behalf Of Jonathan Ebbeler
Sent: Saturday, October 26, 2013 10:13 AM
To: 'towntalk at riverdale-park.org'
Subject: [RP TownTalk] Zip Code Change

 

Bruce, et. al. -

 

It is not just about selling and moving.  It is also about attracting young,
vibrant new families to the area, it is about attracting new and varied
businesses and economic development, it is about division of state tax
money, it is about qualifying for home improvement loans.  I could list out
10-20 reasons from the top of my head that have nothing to do with the
benefits of selling and moving that directly impact the local community.

 

And to the point about image I would disagree with those bringing up that it
hasn't worked.  Obviously the news story got it wrong and that is why this
conversation is being had.  But the town has been pursuing the zip code
change over the last 6 months - this story is hardly a catalyst.  The fact
of the matter is that housing in Riverdale Park fetches a 100-150k+ premium
over an identical house in Riverdale.  The issue becomes that although
higher, we still lag some of our surrounding communities in price per square
foot.  Is this all related to the zip code?  Of course not, but until there
is a clearly delineated division between the county 'Riverdale' and the
incorporated town of Riverdale Park in the minds of the less informed (and
yes zip codes help), lingering understanding of what is the town vs. what is
the county will remain.  

 

Take the shooting story for example.  In this case, you have a story going
out to the media that has an address.  In recent memory, Riverdale Park has
received much more attention than Riverdale so when looking at a zip code
and having to pick between two cities it is quite easy to confuse the two.
The 4-digit extension ties an address to a specific house or property, it
doesn't necessarily indicate municipal boundaries.  Take for example the new
NOAA building, it has a Riverdale Park address yet gets marketed as being in
College Park since a portion of the building is in our neighboring city.  

 

To the point of the Zestimate - those are HIGHLY inaccurate and that point
just buttressed the argument I had made concerning the zip code change.
They are HIGHLY inaccurate due to the aggregation of all of 20737 as 'comps'
when they are in fact not.  Our true 'comp' areas (if you are considering
the core historic area) tend to be College Park, University Park (to a
lesser degree), and Hyattsville.  This is not true in every case but in the
majority of purchases over the last 3-5 years.  I will give you two
instructive examples:  4601 Riverdale - Zestimate 233,336, was sold after a
1-day listing for 366,100 and 4601 Queensbury - Zestimate 297,444 but
appraised over the last year for over 400k using real comps.  4601
Queensbury and 4601 Riverdale are 2 houses away from each other, and
although both were high-end renovations, Queensbury has substantially more
square footage, a 50% larger yard, and a two car garage.  The Zestimate has
it 70k less than what its neighbor sold for in less than a day (indicating
the market may have absorbed an even higher price for the property) - not a
believable estimate juxtaposed to its real appraisal.  Again, Zestimates are
based on the zip code 20737, not what banks and real estate agents, and the
buying public will determine as 'comparable.'

 

 

Respectfully,

Jonathan

 

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