Why is Takoma Park so affordable?
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Anonymous
| I rented in TP for many years and loved it there, but when it came time to buy a house the only thing we could find in what I consider the "nicer" parts of TP for under $500k were really small 2BRs or needed a lot if work. Some of the neighborhoods are really lovely and I wish we could have afforded one of those old Victorian homes! Great farmers market too. |
Anonymous
No, not really. |
Anonymous
| Only one person so far said "demographics"? The answer is that white people pay more to live near other white people. Takoma Park has many more black people than Bethesda or Chevy Chase, so people don't pay as much to live there. The real estate market in this area (and maybe everywhere) reflects people's racial judgements. TP 49% white, 35% black; Bethesda 83% white, 3% black. It's awful but it appears to be reality. |
Anonymous
Actually, yes really. The grand old Victorian homes (ou can see from metro) are well over a million. Few trade, but that is what one would cost if it were listed. |
Anonymous
|
This just went on. It might already have contracts; not sure.
http://www.cbmove.com/property/details/990565/MLS-MC8077506/1319-Elson-Place-Takoma-Park-MD-20912.aspx |
Anonymous
| My husband and I have been looking in the TP MD historic district - very low inventory, and from what we've heard, pending sales have gone over contract price. |
Anonymous
True, but even so, try to find something comparable in terms of size and charm close in with similarly decent schools for those prices. As someone who also has looked in the historic district, I submit that it is unique and indeed priced low for the area. |
Anonymous
| I love TP but some of the pricing has to do with house size. Put a 900,000 Chevy Chase MD house in Takoma Park and the price will be only about 50-100K cheaper. I don't think TP is that cheap. Silver Spring is better in that department. A house in TP just went for 106K over asking with multiple offers. |
Anonymous
| Which house went over 106? |
Anonymous
| It was on Grant Ave. |
Anonymous
| Duh, because it's nuclear free. People aren't gonna give up their bombs and sh**t. |
Anonymous
| Schools suck, and look at what surrounds it. TP is as good as it gets for a few miles in any direction (go in any direction, and it's not very nice). Several miles in some directions. |
Anonymous
Based on what? I know people who have kids in TPES and TPMS and love it. |
Anonymous
Said someone who has apparently never been there or "miles" close to TP. |
Anonymous
| Soon to be run by 16yo. |