Cover story: It's the property, not just the ZIP code

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By Carisa Chappell

If you reverse the order of the first three digits in the famous 90210 ZIP code, you get 20910 - a local Silver Spring ZIP code. While it's nowhere near Beverly Hills, 20910 is one of the most popular ZIP codes considered by prospective homebuyers in the Washington metropolitan area.

The five numbers that comprise a main ZIP code can play an important role in determining a home's value. Close to 20 percent of the homeowners surveyed for the 2008 Coldwell Banker Previews International Luxury Survey said that they have considered moving expressly to obtain a certain ZIP code or address.

While ZIP codes can be a determining factor in where some folks call home, Realtors say that average homebuyers don't necessarily specify a desired location by the ZIP code.

"Buyers generally describe where they want to live using other language," said Patricia Vucich of RE/MAX Realty Services in Bethesda.

For example, she said buyers may specify "near Metro, "close in," or "upper Northwest."

Since some buyers can be vague about where they want to live, Ms. Vucich asks questions and uses a map to help pinpoint an acceptable area to search for a home. She said that when buyers specify "close in" or downtown Silver Spring, they often end up looking in the popular 20910 ZIP code that contains neighborhoods like Woodside, Sligo Park Hills, Forest Glen, Capitol View Park, Blair and Rock Creek Forest.

According to Ms. Vucich, the 20910 ZIP code is desirable because it has two Metro stations, shopping, entertainment, Sligo Creek Park and good public schools.

Other ZIP codes that attract interest in Maryland are the high-end ZIP codes of 20814, the residential section of Bethesda, and 20815 in Chevy Chase. The recent sales median value in ZIP code 20815 is $1,985,000, according to www.eppraisal.com, a Web site that provides homes values, neighborhood information and market analysis for consumers.

While she's uncertain if ZIP codes truly influence the value of real estate, Ms. Vucich said that they certainly represent a difference in price. "For instance, the least expensive detached house currently for sale in ZIP 20878 (Gaithersburg, North Potomac) is priced at $279,900. In 20814 (Bethesda), the least expensive home is priced at $495,000," said Ms. Vucich.

Pat Dowtin of Coldwell Residential Brokerage in Camp Springs said that the ZIP code is important, but not as important as the prestige and amenities offered in a particular neighborhood within a ZIP code.