Your missing middle home is a 2000sf townhouse for 1.6m

[Anonymous]

Anonymous wrote:

Anonymous wrote:You do realize these are in the "heart of Clarendon" right?

Yeah, but it’s 2000sf and for 1.6m - selling for more per SF than a sfh.

But if your budget is 1.6 million, you're not getting a new SFH in a walkable part of Arlington. And the extra $600k you spend on the SFH will be for an extra 3000 sq ft that you might not want or need.

[Anonymous]

Anonymous wrote:Sold before they’re even built. I never thought there would come a time where a 2000 square feet townhouse would sell for 1.6 million in arlington. Anyone else dumbfounded by this. I’m like the lady who thought for sure sfh prices would come down to my 1.2M budget and now even a small townhouse is out of reach

https://www.redfin.com/VA/Arlington/1047-N-Edgewood-St-22201/home/11254920

if you are set on having a walk score of 97, this was to be expected. you can still have a condo if you must live there!

[Anonymous]

This is a missing middle housing type, but if you're referencing the missing middle (Expanded Housing Option or EHO) zoning changes that were recently passed in Arlington, then these homes were not part of that change. This parcel is zoned RA-18, or townhouses. I have no info on the history of that lot of when the lot was zoned for townhomes, but this is denser than what would be allowed under missing middle changes, as far as townhomes go. Only 3 townhomes can be built under the missing middle regs. If 3 townhomes were on this lot instead of 4, I'm guessing they would be larger and thus even pricier than 1.6 apiece. Does anyone know if that's the case? I have no idea if the RA-18 setbacks are more generous than the missing middle ones.

[Anonymous]

Anonymous wrote:Not surprised to see new construction sold before completed. But these will turn into rentals - that is the true MM crime

What’s wrong with rentals?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Not surprised to see new construction sold before completed. But these will turn into rentals - that is the true MM crime

What’s wrong with rentals?

DP. Nothing ,but in Arlington we have a lot of rentals already and most of not all people in the missing middle debate expressed a desire to become homeowners in Arlington to both build wealth and right the wrongs of racist housing policy. There was a level of dishonesty about who would likely buy these housing types in order to rally support. It should have been made clear.

[Anonymous]

I’m not surprised at all. I lived in one of those townhouses in the big development behind Barnes and noble/SMU in 2005. They were $1m then.

[Anonymous]

I lived in Astoria Queens and every 2,000 SF home on my block was that price and immigrant blue collar owned. My landlord literally did plaster work.

To do it upper floor was a two bedroom apt, basement was an illegal cash only apartment with two people. His first floor was him and his family family plus his oldest grown son who worked and chipped in.

My block was very very crowded and every home in block like that and when you put that many people in each house that was intended SFH it is a crowded block.

The prices never came down on Brooklyn and Queens the amount of people really rose up.

Arlington that will be new normal

[Anonymous]

Anonymous wrote:I lived in Astoria Queens and every 2,000 SF home on my block was that price and immigrant blue collar owned. My landlord literally did plaster work.

To do it upper floor was a two bedroom apt, basement was an illegal cash only apartment with two people. His first floor was him and his family family plus his oldest grown son who worked and chipped in.

My block was very very crowded and every home in block like that and when you put that many people in each house that was intended SFH it is a crowded block.

The prices never came down on Brooklyn and Queens the amount of people really rose up.

Arlington that will be new normal

Awesome, the missing middle dream of owning -- you get a townhouse instead of SFH, and you need six roommates to make the mortgage payment on the townhouse.

[Anonymous]

Anonymous wrote:Not surprised to see new construction sold before completed. But these will turn into rentals - that is the true MM crime

These townhouses will not turn into rentals. At 20% down and ~7.5% mortgage rate you’re looking at at least $10,000/month total cost not including other costs like hvac maintenance little repairs. It won’t pull in enough in rental income to break even.

Nobody is going to buy this to turn around and rent it out, there are many other properties that would offer better returns for someone wanting a rental property.

There are some issues with MM, but i don’t see many of the Arlington MM projects becoming rentals. The math doesn’t really make sense.

[Anonymous]

I am not sharing a wall with anyone for anything over $500k.

[Anonymous]

INCREASING SUPPLY DECREASES PRICES!!!!!!!!!

- all the yes-in-your-backyard people for the last two years.

[Anonymous]

You people have been played.

The goal all along was to stick it to the older white folks.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Not surprised to see new construction sold before completed. But these will turn into rentals - that is the true MM crime

What’s wrong with rentals?

I think there’s a component of Missing Middle that acknowledges that MM families also struggle to get on the property ladder, so they’ll be stuck renting forever, never build equity etc.

[Anonymous]

Anonymous wrote:I am not sharing a wall with anyone for anything over $500k.

Enjoy PG or Ann Arundel.

[Anonymous]

Anonymous wrote:You people have been played.

The goal all along was to stick it to the older white folks.

Its actually better for them. Now they can sell their crappy homes for $1m.