Beyond Frustrated in Vienna market

[Anonymous]

Anonymous wrote:

Anonymous wrote:Op here - I am not a troll. I am not sure how me venting about the TOV market devolved into a discussion about my finances. We have an excellent financial advisor and he has signed off on our plan. We are just fine financially- I just have to set my budget somewhere for housing and that is our line. Of course we could take on a mortgage but we don't want to.
My original complaint remains that I just can't believe the prices and competition happening for decent TOV homes when we are this far from DC. That's all.

Mmm hmm.

Ok. Hey PP who is sick of the term "troll" being overused ... looks like here it wasn't. This whole thing makes zero sense. "Ugh, I can't afford a house in TOV because our budget is 2M -- when we look at houses in that range they get bid up! Oh, and our 2M budget is cash. Don't want to take on a mortgage. Our "excellent financial advisor" thinks it's a great idea to sink millions of cash into a house and not take on a mortgage. So whaaaaa ... can't afford a house! I just can't believe these prices!! And the competition happening! A house we liked listed at 2M got bid up to 2.2M! How are we supposed to afford that when we only have 2M in cash!!!"

I tend to agree. I know many people around here make cash offers but the vast majority refinance into a mortgage after closing (or even before) via their private banking preferred rates / relationships. You don’t lock up $2M in a slowly appreciating, relatively illiquid asset when the S&P500 doubles every 7 years historically and you could have $4M in 7 years - or more at the rate this market is going.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Op here - I am not a troll. I am not sure how me venting about the TOV market devolved into a discussion about my finances. We have an excellent financial advisor and he has signed off on our plan. We are just fine financially- I just have to set my budget somewhere for housing and that is our line. Of course we could take on a mortgage but we don't want to.
My original complaint remains that I just can't believe the prices and competition happening for decent TOV homes when we are this far from DC. That's all.

Mmm hmm.

Ok. Hey PP who is sick of the term "troll" being overused ... looks like here it wasn't. This whole thing makes zero sense. "Ugh, I can't afford a house in TOV because our budget is 2M -- when we look at houses in that range they get bid up! Oh, and our 2M budget is cash. Don't want to take on a mortgage. Our "excellent financial advisor" thinks it's a great idea to sink millions of cash into a house and not take on a mortgage. So whaaaaa ... can't afford a house! I just can't believe these prices!! And the competition happening! A house we liked listed at 2M got bid up to 2.2M! How are we supposed to afford that when we only have 2M in cash!!!"

I tend to agree. I know many people around here make cash offers but the vast majority refinance into a mortgage after closing (or even before) via their private banking preferred rates / relationships. You don’t lock up $2M in a slowly appreciating, relatively illiquid asset when the S&P500 doubles every 7 years historically and you could have $4M in 7 years - or more at the rate this market is going.

I think there's probably a fair number of not-very-savvy people who might have $2 or $3 million, and who hear about "all-cash" offers and high mortgage rates (for the recent past), and think that it's best to not have a mortgage. "All-cash" is really one of the most deceptive terms out there, because it leads the not-very-savvy to think that people aren't getting mortgages or portfolio loans, when in fact it simply means that they don't need a financing contingency.

[Anonymous]

I know someone selling in Vienna soon. But you can't afford the house on your budget. Why all cash?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Nowhere outside Rosslyn-Ballston corridor is walkable. Stop fooling yourselves.

This has been brought up multiple times in this thread, including that you can get a SFH for under $2M in these corridors if you’re OK with not having new construction, but apparently ToV is the walker’s paradise we’ve all been glossing over. Weird because every time I drive down Maple I don’t even see people walking their dogs on it. Only walkers I see are crossing for the W&OD trail.

People mostly don't walk (or live) on Maple, they walk and live one or two blocks behind it on either side. TOV is one of the few areas around here where you can live on a large lot, on a leafy suburban street, and be a block or two from the grocery store, small restaurant, town events, etc. That's why people like it. The other walkable areas people keep bringing up have much denser housing and less of a suburban feel, with the exception of FCC which is more expensive.

This exactly
We can walk to the Vienna Community Center, Waters Field, the Vienna Library (currently being completely renovated), Vienna Elementary School, the W&OD Trail, two grocery stores and numerous restaurants without crossing Maple Ave. The streets are lined with trees and people are out walking or biking. It is a lovely area to live.

[Anonymous]

Anonymous wrote:Why does it have to be TOV? There is nothing special you get for living there and there are additional taxes. What about just outside TOV? What about FCC? There are other places that might be a good fit? People on here have a wealth on info, tell us your parameters and we can make suggestions.

TOV has local control over zoning so you have added insurance from dumb zoning policies passed by Fairfax county.

[Anonymous]

The type of person who is smart enough to earn and save $2 million in cold hard cash wouldn’t be asking these dumb questions like they have no clue how supply and demand works in any market.

So we know this is inherited or gifted money.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why Town of Vienna specifically?

Yeah, what is the deal with Vienna? Seems like it’s blowing up recently.

It is just a nice community-centered place to live. Feels cozy and as if everyone wants to live there if that makes sense.

For example, tomorrow is the annual Taste of Vienna which is held outside at the Vienna Volunteer Firehouse parking lot. Tons of food vendors and bands playing where you see your neighbors and hang out.
It is one of many similar events throughout the year. It is nice to have a community like this.

I’ll have to go check out the area around Maple. I kind of remember Maple being mostly strip malls? But this was a few years ago, and it’s possible I’m misremembering.

With the demand, I’d expect it to be comparable to Lyon Park or FCC.

I have to go to Maple street often enough, and It's still very much strip malls. Idk what people expect it's going to be. There isn't much of a "grid" to Vienna area around Maple st, because even one street over is already residential, which limits development of urban grid with perpendicular streets that can bear retail and parking lots, so it's not all located in the front. Plus redeveloping strip malls with front facing parking lots is $$$$.

Until about a year ago I lived in Vienna near Wolf Trap. With this whole walkable thing people are discussing here, I wonder if people are mixing up Maple and Church. Of course Church is right behind part of Maple. But walkable to Church would be a really nice thing. I wouldn’t walk to Maple.

Church street area is tiny though and doesn't have a lot of practical daily errand businesses, it's more focused on boutiques, spas, small eateries? It's cute, but not enough to get a meaningful walk out of it or run errands without going into Maple st. area.

[Anonymous]

Anonymous wrote:The type of person who is smart enough to earn and save $2 million in cold hard cash wouldn’t be asking these dumb questions like they have no clue how supply and demand works in any market.

So we know this is inherited or gifted money.

It was pretty clear in the opening post that OP has no idea how well paid a lot of people in this area are.

Reminds me of when my fed employed trust fund friend assumed everyone else in our friend group was benefitting from the new SALT deductions too and went on and on not realizing nobody else was eligible because of the income cap.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why Town of Vienna specifically?

Yeah, what is the deal with Vienna? Seems like it’s blowing up recently.

It is just a nice community-centered place to live. Feels cozy and as if everyone wants to live there if that makes sense.

For example, tomorrow is the annual Taste of Vienna which is held outside at the Vienna Volunteer Firehouse parking lot. Tons of food vendors and bands playing where you see your neighbors and hang out.
It is one of many similar events throughout the year. It is nice to have a community like this.

I’ll have to go check out the area around Maple. I kind of remember Maple being mostly strip malls? But this was a few years ago, and it’s possible I’m misremembering.

With the demand, I’d expect it to be comparable to Lyon Park or FCC.

I have to go to Maple street often enough, and It's still very much strip malls. Idk what people expect it's going to be. There isn't much of a "grid" to Vienna area around Maple st, because even one street over is already residential, which limits development of urban grid with perpendicular streets that can bear retail and parking lots, so it's not all located in the front. Plus redeveloping strip malls with front facing parking lots is $$$$.

Until about a year ago I lived in Vienna near Wolf Trap. With this whole walkable thing people are discussing here, I wonder if people are mixing up Maple and Church. Of course Church is right behind part of Maple. But walkable to Church would be a really nice thing. I wouldn’t walk to Maple.

The better walkable option is to live on the opposite side of Maple from Church St, basically from Locust/Pine back to Tapawingo. There are more homes to choose and a quiet walk to the library, elementary, community center, Jammin Java area restaurants, Giant, etc. I only go to Church St for festivals.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why Town of Vienna specifically?

Yeah, what is the deal with Vienna? Seems like it’s blowing up recently.

It is just a nice community-centered place to live. Feels cozy and as if everyone wants to live there if that makes sense.

For example, tomorrow is the annual Taste of Vienna which is held outside at the Vienna Volunteer Firehouse parking lot. Tons of food vendors and bands playing where you see your neighbors and hang out.
It is one of many similar events throughout the year. It is nice to have a community like this.

I’ll have to go check out the area around Maple. I kind of remember Maple being mostly strip malls? But this was a few years ago, and it’s possible I’m misremembering.

With the demand, I’d expect it to be comparable to Lyon Park or FCC.

I have to go to Maple street often enough, and It's still very much strip malls. Idk what people expect it's going to be. There isn't much of a "grid" to Vienna area around Maple st, because even one street over is already residential, which limits development of urban grid with perpendicular streets that can bear retail and parking lots, so it's not all located in the front. Plus redeveloping strip malls with front facing parking lots is $$$$.

Until about a year ago I lived in Vienna near Wolf Trap. With this whole walkable thing people are discussing here, I wonder if people are mixing up Maple and Church. Of course Church is right behind part of Maple. But walkable to Church would be a really nice thing. I wouldn’t walk to Maple.

The better walkable option is to live on the opposite side of Maple from Church St, basically from Locust/Pine back to Tapawingo. There are more homes to choose and a quiet walk to the library, elementary, community center, Jammin Java area restaurants, Giant, etc. I only go to Church St for festivals.

Why are some of the elementary schools on this side of Vienna so bad (Great Schools 3 and 4)?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why Town of Vienna specifically?

Yeah, what is the deal with Vienna? Seems like it’s blowing up recently.

It is just a nice community-centered place to live. Feels cozy and as if everyone wants to live there if that makes sense.

For example, tomorrow is the annual Taste of Vienna which is held outside at the Vienna Volunteer Firehouse parking lot. Tons of food vendors and bands playing where you see your neighbors and hang out.
It is one of many similar events throughout the year. It is nice to have a community like this.

I’ll have to go check out the area around Maple. I kind of remember Maple being mostly strip malls? But this was a few years ago, and it’s possible I’m misremembering.

With the demand, I’d expect it to be comparable to Lyon Park or FCC.

I have to go to Maple street often enough, and It's still very much strip malls. Idk what people expect it's going to be. There isn't much of a "grid" to Vienna area around Maple st, because even one street over is already residential, which limits development of urban grid with perpendicular streets that can bear retail and parking lots, so it's not all located in the front. Plus redeveloping strip malls with front facing parking lots is $$$$.

Until about a year ago I lived in Vienna near Wolf Trap. With this whole walkable thing people are discussing here, I wonder if people are mixing up Maple and Church. Of course Church is right behind part of Maple. But walkable to Church would be a really nice thing. I wouldn’t walk to Maple.

The better walkable option is to live on the opposite side of Maple from Church St, basically from Locust/Pine back to Tapawingo. There are more homes to choose and a quiet walk to the library, elementary, community center, Jammin Java area restaurants, Giant, etc. I only go to Church St for festivals.

Why are some of the elementary schools on this side of Vienna so bad (Great Schools 3 and 4)?

Great Schools is trash.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why Town of Vienna specifically?

Yeah, what is the deal with Vienna? Seems like it’s blowing up recently.

It is just a nice community-centered place to live. Feels cozy and as if everyone wants to live there if that makes sense.

For example, tomorrow is the annual Taste of Vienna which is held outside at the Vienna Volunteer Firehouse parking lot. Tons of food vendors and bands playing where you see your neighbors and hang out.
It is one of many similar events throughout the year. It is nice to have a community like this.

I’ll have to go check out the area around Maple. I kind of remember Maple being mostly strip malls? But this was a few years ago, and it’s possible I’m misremembering.

With the demand, I’d expect it to be comparable to Lyon Park or FCC.

I have to go to Maple street often enough, and It's still very much strip malls. Idk what people expect it's going to be. There isn't much of a "grid" to Vienna area around Maple st, because even one street over is already residential, which limits development of urban grid with perpendicular streets that can bear retail and parking lots, so it's not all located in the front. Plus redeveloping strip malls with front facing parking lots is $$$$.

Until about a year ago I lived in Vienna near Wolf Trap. With this whole walkable thing people are discussing here, I wonder if people are mixing up Maple and Church. Of course Church is right behind part of Maple. But walkable to Church would be a really nice thing. I wouldn’t walk to Maple.

The better walkable option is to live on the opposite side of Maple from Church St, basically from Locust/Pine back to Tapawingo. There are more homes to choose and a quiet walk to the library, elementary, community center, Jammin Java area restaurants, Giant, etc. I only go to Church St for festivals.

Why are some of the elementary schools on this side of Vienna so bad (Great Schools 3 and 4)?

Great Schools is trash.

True, but all the houses walkable to that part of Maple are zoned to Vienna ES, which is a 7.

PP is probably looking at Marshall Rd and Cunningham Park ES, both of which have nice school communities but serve a more diverse population as their zones just barely kiss the neighborhood being discussed. Marshall Rd used to house a lot of special ed programs, I don't know if that's still true.

[Anonymous]

So, to answer OP's question, yes everyone is leveraged to a the highest degree and relying on two salaries to make mortgage payments. Hope jobs stay steady around here for them. That would give me trouble sleeping at night but that's just me.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why Town of Vienna specifically?

Yeah, what is the deal with Vienna? Seems like it’s blowing up recently.

It is just a nice community-centered place to live. Feels cozy and as if everyone wants to live there if that makes sense.

For example, tomorrow is the annual Taste of Vienna which is held outside at the Vienna Volunteer Firehouse parking lot. Tons of food vendors and bands playing where you see your neighbors and hang out.
It is one of many similar events throughout the year. It is nice to have a community like this.

I’ll have to go check out the area around Maple. I kind of remember Maple being mostly strip malls? But this was a few years ago, and it’s possible I’m misremembering.

With the demand, I’d expect it to be comparable to Lyon Park or FCC.

I have to go to Maple street often enough, and It's still very much strip malls. Idk what people expect it's going to be. There isn't much of a "grid" to Vienna area around Maple st, because even one street over is already residential, which limits development of urban grid with perpendicular streets that can bear retail and parking lots, so it's not all located in the front. Plus redeveloping strip malls with front facing parking lots is $$$$.

Until about a year ago I lived in Vienna near Wolf Trap. With this whole walkable thing people are discussing here, I wonder if people are mixing up Maple and Church. Of course Church is right behind part of Maple. But walkable to Church would be a really nice thing. I wouldn’t walk to Maple.

The better walkable option is to live on the opposite side of Maple from Church St, basically from Locust/Pine back to Tapawingo. There are more homes to choose and a quiet walk to the library, elementary, community center, Jammin Java area restaurants, Giant, etc. I only go to Church St for festivals.

Why are some of the elementary schools on this side of Vienna so bad (Great Schools 3 and 4)?

Great Schools is trash.

+100 look up.the stats you want to know. Over half of their rating is some nebulous "improvement" score that rates your school against undisclosed "peer" schools.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why Town of Vienna specifically?

Yeah, what is the deal with Vienna? Seems like it’s blowing up recently.

It is just a nice community-centered place to live. Feels cozy and as if everyone wants to live there if that makes sense.

For example, tomorrow is the annual Taste of Vienna which is held outside at the Vienna Volunteer Firehouse parking lot. Tons of food vendors and bands playing where you see your neighbors and hang out.
It is one of many similar events throughout the year. It is nice to have a community like this.

I’ll have to go check out the area around Maple. I kind of remember Maple being mostly strip malls? But this was a few years ago, and it’s possible I’m misremembering.

With the demand, I’d expect it to be comparable to Lyon Park or FCC.

I have to go to Maple street often enough, and It's still very much strip malls. Idk what people expect it's going to be. There isn't much of a "grid" to Vienna area around Maple st, because even one street over is already residential, which limits development of urban grid with perpendicular streets that can bear retail and parking lots, so it's not all located in the front. Plus redeveloping strip malls with front facing parking lots is $$$$.

Until about a year ago I lived in Vienna near Wolf Trap. With this whole walkable thing people are discussing here, I wonder if people are mixing up Maple and Church. Of course Church is right behind part of Maple. But walkable to Church would be a really nice thing. I wouldn’t walk to Maple.

The better walkable option is to live on the opposite side of Maple from Church St, basically from Locust/Pine back to Tapawingo. There are more homes to choose and a quiet walk to the library, elementary, community center, Jammin Java area restaurants, Giant, etc. I only go to Church St for festivals.

Why are some of the elementary schools on this side of Vienna so bad (Great Schools 3 and 4)?

Great Schools is trash.

True, but all the houses walkable to that part of Maple are zoned to Vienna ES, which is a 7.

PP is probably looking at Marshall Rd and Cunningham Park ES, both of which have nice school communities but serve a more diverse population as their zones just barely kiss the neighborhood being discussed. Marshall Rd used to house a lot of special ed programs, I don't know if that's still true.

+1
the communities at these schools are warm and inclusive