Moco - no appreciation in the last 10 years

[Anonymous]

Meh. We bought in an inexpensive part of MoCo 20 yrs ago. Price have doubled. Schools are shitty so it will never go up. Apart from the school, everything else is pretty nice. We are lucky because it would have not been pretty to have paid a lot for real estate.

[Anonymous]

so tired of these trolls

[Anonymous]

Anonymous wrote:OP is a NoVA troll. Prices have not been flat for 10 years. It may not climb as fast as Arlington, but in no way is it flat.

OP is specifically comparing prices to peak which your chart doesn’t include.

[Anonymous]

Seriously? How many of the exact same threads do we need? Million dollar houses do not recover after a major crash like the one in 2008. If you bought a 300K house it did appreciate by now.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:As a homeowner in Bethesda, i was looking through the data and was shocked at the fact that RE prices in this area are basically flat since 2008-2009 and even lower than the peak in 2005-2006. It looks like it’s not even keeping up with inflation. Meanwhile prices in Arlington and Fairfax have gone up by 40-50% over the same period. We are moderately well off but not rich by any means but this adds up to hundreds of thousands of dollars of home equity. I never expected the gap to be so large. We love our neighborhood and our commute to DC is pleasant but I can’t help but being slightly jealous.

There has been appreciation in the last five to six years because prices dropped from the peak. What you’re complaining about is that prices haven’t exceeded the bubble prices. That would not be a particularly good thing if they did.

We are way past bubble prices in NOVA, and there's no sign of letting up. I am surprised to hear that prices are flat in Bethesda. That doesn't seem true to me.

Which means you’ll have another massive crash when the next recession hits. NOVA was devastated in the last one.

NOVA was most certainly not devastated in the last housing crash (at least no more so than any other area in the close-in DMV. And it recovered rapidly. You have no idea what you're talking about.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:As a homeowner in Bethesda, i was looking through the data and was shocked at the fact that RE prices in this area are basically flat since 2008-2009 and even lower than the peak in 2005-2006. It looks like it’s not even keeping up with inflation. Meanwhile prices in Arlington and Fairfax have gone up by 40-50% over the same period. We are moderately well off but not rich by any means but this adds up to hundreds of thousands of dollars of home equity. I never expected the gap to be so large. We love our neighborhood and our commute to DC is pleasant but I can’t help but being slightly jealous.

There has been appreciation in the last five to six years because prices dropped from the peak. What you’re complaining about is that prices haven’t exceeded the bubble prices. That would not be a particularly good thing if they did.

We are way past bubble prices in NOVA, and there's no sign of letting up. I am surprised to hear that prices are flat in Bethesda. That doesn't seem true to me.

Which means you’ll have another massive crash when the next recession hits. NOVA was devastated in the last one.

NOVA was most certainly not devastated in the last housing crash (at least no more so than any other area in the close-in DMV. And it recovered rapidly. You have no idea what you're talking about.

I bought in 2009 in NOVA and prices were 40% below peak.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:As a homeowner in Bethesda, i was looking through the data and was shocked at the fact that RE prices in this area are basically flat since 2008-2009 and even lower than the peak in 2005-2006. It looks like it’s not even keeping up with inflation. Meanwhile prices in Arlington and Fairfax have gone up by 40-50% over the same period. We are moderately well off but not rich by any means but this adds up to hundreds of thousands of dollars of home equity. I never expected the gap to be so large. We love our neighborhood and our commute to DC is pleasant but I can’t help but being slightly jealous.

There has been appreciation in the last five to six years because prices dropped from the peak. What you’re complaining about is that prices haven’t exceeded the bubble prices. That would not be a particularly good thing if they did.

We are way past bubble prices in NOVA, and there's no sign of letting up. I am surprised to hear that prices are flat in Bethesda. That doesn't seem true to me.

Which means you’ll have another massive crash when the next recession hits. NOVA was devastated in the last one.

NOVA was most certainly not devastated in the last housing crash (at least no more so than any other area in the close-in DMV. And it recovered rapidly. You have no idea what you're talking about.

NOVA is pretty big. Manassas was down huge. Arlington not so much. Where do you fall?

I bought in 2009 in NOVA and prices were 40% below peak.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:As a homeowner in Bethesda, i was looking through the data and was shocked at the fact that RE prices in this area are basically flat since 2008-2009 and even lower than the peak in 2005-2006. It looks like it’s not even keeping up with inflation. Meanwhile prices in Arlington and Fairfax have gone up by 40-50% over the same period. We are moderately well off but not rich by any means but this adds up to hundreds of thousands of dollars of home equity. I never expected the gap to be so large. We love our neighborhood and our commute to DC is pleasant but I can’t help but being slightly jealous.

There has been appreciation in the last five to six years because prices dropped from the peak. What you’re complaining about is that prices haven’t exceeded the bubble prices. That would not be a particularly good thing if they did.

We are way past bubble prices in NOVA, and there's no sign of letting up. I am surprised to hear that prices are flat in Bethesda. That doesn't seem true to me.

Which means you’ll have another massive crash when the next recession hits. NOVA was devastated in the last one.

NOVA was most certainly not devastated in the last housing crash (at least no more so than any other area in the close-in DMV. And it recovered rapidly. You have no idea what you're talking about.

NOVA is pretty big. Manassas was down huge. Arlington not so much. Where do you fall?

I bought in 2009 in NOVA and prices were 40% below peak.

I refer you to this document, look at the chart at the bottom of the last page. Almost all of Fairfax was down around 40% and PWC/Manassas as you mention was down something like 60-70%.

http://cra.gmu.edu/pdfs/studies_reports_presentations/The_Northern_Virginia_Housing_Market_Like_No_Other.pdf

Arlington stagnated and was dropping about 1% a year so maybe you think Arlington is “NoVa”? I watched the statistics monthly and yes NOVA was down big.

[Anonymous]

I think there are probably huge variations on actual appreciation depending on price range and location. We're in a small house on a busy street in Bethesda; I've always understood the price increases are less relevant for my house than for my neighbors on a cul-de-sac. As we're in the move-or-renovate phase, I look at the nice older split levels or colonials that are in the "reach" range for us -- 1m to 1.2m -- and I wonder how much more they can increase, given how many new builds there are. Even a nicely renovated 75yr old ordinary house, unless it had a LOT of charm or an amazing location, isn't going to compete with a more recent build, with higher ceilings and larger rooms, etc.

[Anonymous]

i sort of agree, but my property taxes have gone up like 35%+ since we bought 10 years ago

[Anonymous]

Anonymous wrote:i sort of agree, but my property taxes have gone up like 35%+ since we bought 10 years ago

Only way to pay for its school system. You are doing your part to help out. Be happy.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:As a homeowner in Bethesda, i was looking through the data and was shocked at the fact that RE prices in this area are basically flat since 2008-2009 and even lower than the peak in 2005-2006. It looks like it’s not even keeping up with inflation. Meanwhile prices in Arlington and Fairfax have gone up by 40-50% over the same period. We are moderately well off but not rich by any means but this adds up to hundreds of thousands of dollars of home equity. I never expected the gap to be so large. We love our neighborhood and our commute to DC is pleasant but I can’t help but being slightly jealous.

There has been appreciation in the last five to six years because prices dropped from the peak. What you’re complaining about is that prices haven’t exceeded the bubble prices. That would not be a particularly good thing if they did.

We are way past bubble prices in NOVA, and there's no sign of letting up. I am surprised to hear that prices are flat in Bethesda. That doesn't seem true to me.

Which means you’ll have another massive crash when the next recession hits. NOVA was devastated in the last one.

NOVA was most certainly not devastated in the last housing crash (at least no more so than any other area in the close-in DMV. And it recovered rapidly. You have no idea what you're talking about.

Depends on the where. Places like Stafford and Gainesville got hit really bad and are still barely breaking even. Places like Arlington and Alexandria, though, weren’t hit nearly as bad.

[Anonymous]

Anonymous wrote:

Anonymous wrote:i sort of agree, but my property taxes have gone up like 35%+ since we bought 10 years ago

Only way to pay for its school system. You are doing your part to help out. Be happy.

I don't have to be happy about a school system that failed my child, miserably. The doesn't mean I don't pay my taxes, but your sanctimoniousness is really irritating and is part of the problem endemic throughout MoCo.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:i sort of agree, but my property taxes have gone up like 35%+ since we bought 10 years ago

Only way to pay for its school system. You are doing your part to help out. Be happy.

I don't have to be happy about a school system that failed my child, miserably. The doesn't mean I don't pay my taxes, but your sanctimoniousness is really irritating and is part of the problem endemic throughout MoCo.

You must be an irritable person. I don't know what "problem endemic" you are talking about.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:As a homeowner in Bethesda, i was looking through the data and was shocked at the fact that RE prices in this area are basically flat since 2008-2009 and even lower than the peak in 2005-2006. It looks like it’s not even keeping up with inflation. Meanwhile prices in Arlington and Fairfax have gone up by 40-50% over the same period. We are moderately well off but not rich by any means but this adds up to hundreds of thousands of dollars of home equity. I never expected the gap to be so large. We love our neighborhood and our commute to DC is pleasant but I can’t help but being slightly jealous.

There has been appreciation in the last five to six years because prices dropped from the peak. What you’re complaining about is that prices haven’t exceeded the bubble prices. That would not be a particularly good thing if they did.

We are way past bubble prices in NOVA, and there's no sign of letting up. I am surprised to hear that prices are flat in Bethesda. That doesn't seem true to me.

Which means you’ll have another massive crash when the next recession hits. NOVA was devastated in the last one.

NOVA was most certainly not devastated in the last housing crash (at least no more so than any other area in the close-in DMV. And it recovered rapidly. You have no idea what you're talking about.

NOVA is pretty big. Manassas was down huge. Arlington not so much. Where do you fall?

I bought in 2009 in NOVA and prices were 40% below peak.

I refer you to this document, look at the chart at the bottom of the last page. Almost all of Fairfax was down around 40% and PWC/Manassas as you mention was down something like 60-70%.

http://cra.gmu.edu/pdfs/studies_reports_presentations/The_Northern_Virginia_Housing_Market_Like_No_Other.pdf

Arlington stagnated and was dropping about 1% a year so maybe you think Arlington is “NoVa”? I watched the statistics monthly and yes NOVA was down big.

The whole country was hit hard. PWC and Manassas are not close-in DMV. From the article you posted: "The bust period was deep but swift, and the recovery started sooner in Northern Virginia than in most other places in the country."

Not sure what your point is. That prices went down during the housing bust? Seems obvious enough, but okay, yes, I agree. The housing market in close-in NOVA proved to be more resilient than just about anywhere else in the country, and with two of the country's biggest employers in town---the USG and now Amazon---close-in NOVA is about as close to a sure bet as you're going to get.