home value has more than double since 2008

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I spent about 200k for the addition and new kitchen. I kept the cost down because my brother is in the home renovation business. I added Vikings and Wolf appliances to the kitchen, I got them from another home owner when his house had gone under in 2007. The house is in a very desirable neighborhood of McLean, five minutes to Giant, CVS, Langley Shopping Center, and 2 minutes walk to Balduci. Someone did ask to purchase my house for 1.9M. I am thinking of selling it for 2M and move to Florida but will see.

From McLean to Florida. Do you ever emerge from the fires of hell?

NP but this was funny as h*ll

I agree! My first thought was “oh look, another northern middle aged dreamer that has only been to Fla on vacation.”

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We bought a home in McLean in 2008 for 900k on a 0.4 acre lot. The house was built in 1955. We added an addition to the house and fixed the inside. The house is now 3400 sqft and worth about 1.9M.

Just insanse. I wonder when the housing market will come back to earth.

My parents bought a house in 1970 and sold it for 11x what they paid in 1997. Today, that house is now worth 4x what they sold in 1997. This is in the Boston suburbs which which have had stronger growth than here.

Prices go up. Housing will never come back to where you think they should.

The Boston market is insane and has been for awhile. A friend bought a tear down next to a metro and in 10 years if went from 250ish ro 570. They sold for an insane profit. And that was 8 years ago or so. It has just gotten more intense. I am starting to see that here. The whole think worries me since it is going to gut our already shrinking middle class.

I also grew up around Boston and my parents had pretty much the same experience. I'll add that before they bought that house they rented a house for $65/month. Zillow now shows that house estimated at $3.2 million.