DC is Losing Jobs to Virginia

[Anonymous]

Anonymous wrote:

Anonymous wrote:Doesn't seem to be impacting our MoCo neighborhood. Very little inventory, and SFH going for $850K+. And new expensive TH/condos going up left and right.

To the extent this thread is another excuse for VA and MD to spar, the most telling thing about this post is the observation that SFHs in MoCo neighborhoods are going for $850K+, as if that demonstrates MoCo’s vibrancy.

In NoVa people would be pointing to all the townhouses going for $850K+ and SFHs going for well over $1.2M.

You can’t get a SFH for $1.2 million anymore in the close-in NovA hoods. The cutoff is now $1.6million- starter and in need of renovation.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Doesn't seem to be impacting our MoCo neighborhood. Very little inventory, and SFH going for $850K+. And new expensive TH/condos going up left and right.

To the extent this thread is another excuse for VA and MD to spar, the most telling thing about this post is the observation that SFHs in MoCo neighborhoods are going for $850K+, as if that demonstrates MoCo’s vibrancy.

In NoVa people would be pointing to all the townhouses going for $850K+ and SFHs going for well over $1.2M.

It's a sign that it hasn't impacted home prices too much. I'm glad your home is worth $1mil+. Mine was too, for a tiny bungalow, when I moved out of the Bay Area 10 years ago. Be careful what you wish for.

There are homes in MoCo areas going for well over $1mil. I just happen to live in an area that isn't as wealthy. I'm sure you can find sfh in NoVa somewhere for $850k.

Example: Plenty of inventory.

https://www.redfin.com/county/2965/VA/Fairfax-County/filter/property-type=house,max-price=850k,viewport=38.92658:38.74607:-77.1538:-77.42366

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Doesn't seem to be impacting our MoCo neighborhood. Very little inventory, and SFH going for $850K+. And new expensive TH/condos going up left and right.

To the extent this thread is another excuse for VA and MD to spar, the most telling thing about this post is the observation that SFHs in MoCo neighborhoods are going for $850K+, as if that demonstrates MoCo’s vibrancy.

In NoVa people would be pointing to all the townhouses going for $850K+ and SFHs going for well over $1.2M.

You can’t get a SFH for $1.2 million anymore in the close-in NovA hoods. The cutoff is now $1.6million- starter and in need of renovation.

Same for closein MoCo. Outer NovA and outer MoCo, you can find SFH < $850K, no problem.

[Anonymous]

Anonymous wrote:Doesn't seem to be impacting our MoCo neighborhood. Very little inventory, and SFH going for $850K+. And new expensive TH/condos going up left and right.

But it will…unless county turns this 20 year trend around

[Anonymous]

Anonymous wrote:Doesn't seem to be impacting our MoCo neighborhood. Very little inventory, and SFH going for $850K+. And new expensive TH/condos going up left and right.

Are you blind? MOCO has been losing jobs to VA for a long time. Just look at the beltway. That's why housing is cheap in MD.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Doesn't seem to be impacting our MoCo neighborhood. Very little inventory, and SFH going for $850K+. And new expensive TH/condos going up left and right.

Are you blind? MOCO has been losing jobs to VA for a long time. Just look at the beltway. That's why housing is cheap in MD.

Are you blind? Close in MoCo isn't cheap.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Doesn't seem to be impacting our MoCo neighborhood. Very little inventory, and SFH going for $850K+. And new expensive TH/condos going up left and right.

But it will…unless county turns this 20 year trend around

perhaps. I am not a fan of MoCo policies, but my point is that the job "loss" hasn't impacted my house value. It's appreciated over the past 2 years. Sure, it hasn't appreciated as much as close in NoVa, but it's not like Moco is so bad that the house prices aren't appreciating. That was my point.

And also, if MoCo is "poor", who the heck is buying those expensive TH that are coming up left and right around me. It doesn't matter that they aren't as "expensive" as closein NoVa since 1. I don't live in close in MoCo, either, and 2. a TH for $850K for not closein MoCo is still ridiculously expensive.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Traffic in and around VA is not worth it.

Far more MD to VA commuters than VA to MD.

Not a lot of people are commuting VA to MD because the jobs are mostly in VA.

Md is more residential , private school, best country club place.

Va you go to work in a nasty beehive unplanned clutter.. flush the toilet ..cross back over Maryland’s beautiful Potomac river and c&o national park to a more beautiful living situation.

Love the boosters from Oxon Hill, Capitol Heights, Beltsville, Temple Hills, District Heights, Cheverly, Riverdale Park, Glenarden, New Carrollton, Brentwood, Berwyn Heights, Landover, Chillum, and Marlow Heights. They are so darn proud of the beautiful living situations they found after getting gentrified out of DC. Plus the welfare is better in Maryland.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Doesn't seem to be impacting our MoCo neighborhood. Very little inventory, and SFH going for $850K+. And new expensive TH/condos going up left and right.

To the extent this thread is another excuse for VA and MD to spar, the most telling thing about this post is the observation that SFHs in MoCo neighborhoods are going for $850K+, as if that demonstrates MoCo’s vibrancy.

In NoVa people would be pointing to all the townhouses going for $850K+ and SFHs going for well over $1.2M.

You can’t get a SFH for $1.2 million anymore in the close-in NovA hoods. The cutoff is now $1.6million- starter and in need of renovation.

That’s not true. You can get a SFH in south Arlington for less than $1.2M. It’s not new construction and will probably be small but you can get it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Doesn't seem to be impacting our MoCo neighborhood. Very little inventory, and SFH going for $850K+. And new expensive TH/condos going up left and right.

To the extent this thread is another excuse for VA and MD to spar, the most telling thing about this post is the observation that SFHs in MoCo neighborhoods are going for $850K+, as if that demonstrates MoCo’s vibrancy.

In NoVa people would be pointing to all the townhouses going for $850K+ and SFHs going for well over $1.2M.

You can’t get a SFH for $1.2 million anymore in the close-in NovA hoods. The cutoff is now $1.6million- starter and in need of renovation.

We closed last week on a $937,000 house in a good school district in Arlington and thought we found our dream home. We were very thrifty and saved a long time to buy the house. That was a very mean thing to say.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Doesn't seem to be impacting our MoCo neighborhood. Very little inventory, and SFH going for $850K+. And new expensive TH/condos going up left and right.

To the extent this thread is another excuse for VA and MD to spar, the most telling thing about this post is the observation that SFHs in MoCo neighborhoods are going for $850K+, as if that demonstrates MoCo’s vibrancy.

In NoVa people would be pointing to all the townhouses going for $850K+ and SFHs going for well over $1.2M.

It's a sign that it hasn't impacted home prices too much. I'm glad your home is worth $1mil+. Mine was too, for a tiny bungalow, when I moved out of the Bay Area 10 years ago. Be careful what you wish for.

There are homes in MoCo areas going for well over $1mil. I just happen to live in an area that isn't as wealthy. I'm sure you can find sfh in NoVa somewhere for $850k.

Example: Plenty of inventory.

https://www.redfin.com/county/2965/VA/Fairfax-County/filter/property-type=house,max-price=850k,viewport=38.92658:38.74607:-77.1538:-77.42366

I agree with this part. As a resident I am watching with trepidation the growth of this county. A condo just sold within a week of being in the market for 3.8 mil. At just 2500 square feet, that’s $1500 per square feet. The toll brothers are building 40 homes at 2+ mil each. The county is very greedy when it comes to their tax revenues, especially now that they have lost a big chunk of their revenue from commercial real estate. I just don’t want the quality of life I enjoy here to get lost and hope residents stay involved like they’re known for.

[Anonymous]

Anonymous wrote:The CityCast DC podcast just had an episode with a Washington Business Journal reporter titled “DC is Losing Jobs to Virginia”
https://open.spotify.com/episode/1OKuIhD56t2RhcsBN0tuzS?si=Hw2KpTP0RNqkEqZXueQepA

Basic premise is that the DC Metro area is doing well but the recent job growth is largely tilted towards VA, with DC and MD not seeing the same booming job growth.

Reporter says he sees this being a long term trend. Thoughts on how this will impact residential real estate in the area?

Are there any stats to back this up? Or is this just some random reporter spouting off whatever he/she thinks based on some randomly plucked headlines? I looked up the stats for 2022 a little while ago, and job growth in MD and VA was about the same. And to the extent VA had job growth, it was tilted toward the southern part of the state.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Doesn't seem to be impacting our MoCo neighborhood. Very little inventory, and SFH going for $850K+. And new expensive TH/condos going up left and right.

Are you blind? MOCO has been losing jobs to VA for a long time. Just look at the beltway. That's why housing is cheap in MD.

Are you blind? Close in MoCo isn't cheap.

True because you have the big law people, but everywhere else is. Silver spring is as close in as Chevy chase and it’s dirt cheap with terrible schools.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Doesn't seem to be impacting our MoCo neighborhood. Very little inventory, and SFH going for $850K+. And new expensive TH/condos going up left and right.

Are you blind? MOCO has been losing jobs to VA for a long time. Just look at the beltway. That's why housing is cheap in MD.

Are you blind? Close in MoCo isn't cheap.

True because you have the big law people, but everywhere else is. Silver spring is as close in as Chevy chase and it’s dirt cheap with terrible schools.

Silver Spring has historically been and continues to be a very diverse area, unlike most of close in NoVa.

Takoma Park is closer in and it's not cheap.

https://www.redfin.com/city/19389/MD/Takoma-Park

[Anonymous]

Publics are trash everywhere. Nova is a unplanned public hardscrabble. Md has all the privates and country clubs separated by Maryland’s Potomac river.