Beyond Frustrated in Vienna market
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Anonymous
| We are house hunting in the Town of Vienna and cannot get a house without it flying off the market in a day all contingencies waived rent back etc. We are looking in the $2 million dollar range by the way. It's insane. How is everyone affording this?! Is everyone leveraged beyond belief? Feeling super solid about paying outrageous mortgages on two salaries? People lose their jobs all the time. Or is everyone paying cash? I can't figure it out and feeling so frustrated. Just venting I guess. |
Anonymous
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The fewer the contingencies, the more attractive the offer. You may need to look at houses listed under your budget so you can offer up to your budget.
Personally, I offered subject to an inspection contingency but without a sale/settlement or financing contingency. I didn't want a bridge loan or to pay two mortgages (I’m risk averse) and the buyer of my old house wouldn’t agree to a rent back, so I lived in an apartment for a couple of months between selling my old house and buying a new one. Still lost out on a couple of offers but ended up with an amazing house. |
Anonymous
| Some people have more money than you. Get over it and move on. You're probably losing on a shitty house people shouldn't be waiving inspection on anyway. Count your blessings. |
Anonymous
| Its stupid to wave contingencies. |
Anonymous
Agree. Too much risk without an inspection. |
Anonymous
| Why Town of Vienna specifically? |
Anonymous
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Inspections are overrated. Educate yourself on potential flags and do your own inspection. Schedule a one hour showing.
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Anonymous
| Find a cheaper location. |
Anonymous
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You should ask your agent about pre-inspections.
If you have flexibility on timing, you might consider waiting until later in the summer or even the fall. There’s less competition. My husband and I got an offer accepted with an inspection contingency late last fall. |
Anonymous
Yeah, what is the deal with Vienna? Seems like it’s blowing up recently. |
Anonymous
| There are many options at $2M dollar range |
Anonymous
Agreed. I don’t bat an eye when I see McLean or N Arlington over $2-3M but I’m befuddled by the amount of $2M+ homes in Vienna and even $3M+ - and how fast they sell!! What do these people do - are they all working in Tyson’s or remote given the commute to DC from Vienna is brutal? Are they overleveraged? Family $ in some form or another eg they’re going to inherit so they can skip saving and double down on a large mortgage? |
Anonymous
Not everyone wants to live in Haymarket. |
Anonymous
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I love how people ask how everyone is affording it, when they themselves apparently are affording it. So maybe OP should share how they're affording it, and we can learn something?
BTW, the answer for many people is stock market gains. Secondarily, huge increases in salaries over the past five or so years. |
Anonymous
Yeah I just searched and there are several properties between 1.5 - $2M in Vienna. If OP wants to be in Vienna the can be. |