Lyon Village - please explain

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How are the houses all 2-3 mil in Lyon Village?? You can get something really nice on Capitol Hill in DC for 1.5 mil with more character and a nicer neighborhood. And with the $1mil you save, send your kid to private MS/HS.

You’re talking about people who want completely different things. Not a good comparison.

I'm not so sure about that. Clearly people paying $3mil in Lyon Village are doing it for walkability, proximity to metro, urban amenities. For those with kids, schools (that admittedly provide HS/MS options that the Hill does not.) I'm not sure how much different crime can be compared to the area close-in on the Hill near the Capitol. The comparison to the Hill is not a specific argument for the Hill - I'm just struggling to understand the Lyon Village prices that seem so inflated for how frankly dumpy it looks on Street View. Is the extra $1mil because you have a detatched home and a yard, plus all the same walkability?

It's for all of this PLUS a quiet, suburban feel. It's more like the suburban areas of DC than Capitol Hill. AU Park, Cleveland Park, etc.

Walkable to some good stuff, but it's not all in your backyard.

yet … you can get a gorgeous AU park house for 1.5 mil?

AU Park is not as close to the metro and retail. You get a nice suburban feel but you're still dealing with DC services and disfunction. Also, it's much further from the downtown business core of DC and the commute to other major office areas (Tyson's, "National Landing", etc) is worse as well.

The houses that are actually selling in Lyon Village aren't going for that much more than $1.5 million. The $2-$3 million ones sit.

There are like 10 2.5mil-3mil houses in Lyon Village sitting right now. So it's all urban walkability, then? I guess that's a win for the walkability discussion!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We lived on the Hill and loved it. We moved to a walkable part of Arlington after kids because:

(1) as non-federal employees we didn't get into a daycare or preschool on the Hill and wanted our 2-3 yo in a group program

(2) we wanted stable schools through elementary, middle and high school with a stable community without lots of kids leaving, moving to private or getting split by the lottery

(3) we wanted more outdoor space

(4) we wanted easier parking for us and our visitors (including private EV parking for our car)

(5) we wanted access to VA universities and colleges

(6) Arlington is closer to one of our jobs in VA

(7) not having to worry about petty theft like our stroller or bikes being stolen off our front porch is really nice

But did you buy a $3 mil house in Lyon Village? That is my specific question!

Only 9 properties have sold for over $2.5 million in Lyon Village in the past 2 years one of those was an apartment building. The median sale price per Redfin is $1.85 Mil.

There are 10 sitting right now.

[Anonymous]

Anonymous wrote:I'm sorry you can't afford the house you want OP

I'm struggling to understand the value proposition for Lyon Village. If I had $3mil I don't think I would buy there. I'd buy in NW DC or on the Hill, and save the extra for private school.

Were all these $3mil houses flipped/new construction in anticipation of Amazon execs moving in?

[Anonymous]

Anonymous wrote:

Anonymous wrote:I'm sorry you can't afford the house you want OP

I'm struggling to understand the value proposition for Lyon Village. If I had $3mil I don't think I would buy there. I'd buy in NW DC or on the Hill, and save the extra for private school.

Were all these $3mil houses flipped/new construction in anticipation of Amazon execs moving in?

There are people who simply would not live in DC no matter what. Those are the people that want to buy in Arlington.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We lived on the Hill and loved it. We moved to a walkable part of Arlington after kids because:

(1) as non-federal employees we didn't get into a daycare or preschool on the Hill and wanted our 2-3 yo in a group program

(2) we wanted stable schools through elementary, middle and high school with a stable community without lots of kids leaving, moving to private or getting split by the lottery

(3) we wanted more outdoor space

(4) we wanted easier parking for us and our visitors (including private EV parking for our car)

(5) we wanted access to VA universities and colleges

(6) Arlington is closer to one of our jobs in VA

(7) not having to worry about petty theft like our stroller or bikes being stolen off our front porch is really nice

But did you buy a $3 mil house in Lyon Village? That is my specific question!

Only 9 properties have sold for over $2.5 million in Lyon Village in the past 2 years one of those was an apartment building. The median sale price per Redfin is $1.85 Mil.

There are 10 sitting right now.

Yes. Because they are outside the normal range of the neighborhood. Look at what has actually sold in the last 6 months.

[Anonymous]

I'm not a fan of Lyon Village but if you have two or three kids you could easily end up spending more than $1M on private school and that money is GONE once you spend it. You will get back some or all of the money you spend on a house when you sell. Plus the Hill isn't convenient to the good DC privates that go through 12th grade so now you are looking at homes in Cleveland Park, which are as expensive as Lyon Village (or more).

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How are the houses all 2-3 mil in Lyon Village?? You can get something really nice on Capitol Hill in DC for 1.5 mil with more character and a nicer neighborhood. And with the $1mil you save, send your kid to private MS/HS.

You’re talking about people who want completely different things. Not a good comparison.

I'm not so sure about that. Clearly people paying $3mil in Lyon Village are doing it for walkability, proximity to metro, urban amenities. For those with kids, schools (that admittedly provide HS/MS options that the Hill does not.) I'm not sure how much different crime can be compared to the area close-in on the Hill near the Capitol. The comparison to the Hill is not a specific argument for the Hill - I'm just struggling to understand the Lyon Village prices that seem so inflated for how frankly dumpy it looks on Street View. Is the extra $1mil because you have a detatched home and a yard, plus all the same walkability?

It's for all of this PLUS a quiet, suburban feel. It's more like the suburban areas of DC than Capitol Hill. AU Park, Cleveland Park, etc.

Walkable to some good stuff, but it's not all in your backyard.

yet … you can get a gorgeous AU park house for 1.5 mil?

AU Park is not as close to the metro and retail. You get a nice suburban feel but you're still dealing with DC services and disfunction. Also, it's much further from the downtown business core of DC and the commute to other major office areas (Tyson's, "National Landing", etc) is worse as well.

The houses that are actually selling in Lyon Village aren't going for that much more than $1.5 million. The $2-$3 million ones sit.

There are like 10 2.5mil-3mil houses in Lyon Village sitting right now. So it's all urban walkability, then? I guess that's a win for the walkability discussion!

Yes. Walkability + suburban feel.

How do prices compare to Cleveland Park?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We lived on the Hill and loved it. We moved to a walkable part of Arlington after kids because:

(1) as non-federal employees we didn't get into a daycare or preschool on the Hill and wanted our 2-3 yo in a group program

(2) we wanted stable schools through elementary, middle and high school with a stable community without lots of kids leaving, moving to private or getting split by the lottery

(3) we wanted more outdoor space

(4) we wanted easier parking for us and our visitors (including private EV parking for our car)

(5) we wanted access to VA universities and colleges

(6) Arlington is closer to one of our jobs in VA

(7) not having to worry about petty theft like our stroller or bikes being stolen off our front porch is really nice

But did you buy a $3 mil house in Lyon Village? That is my specific question!

Only 9 properties have sold for over $2.5 million in Lyon Village in the past 2 years one of those was an apartment building. The median sale price per Redfin is $1.85 Mil.

There are 10 sitting right now.

Yes. Because they are outside the normal range of the neighborhood. Look at what has actually sold in the last 6 months.

Weren’t most just listed this past week?

[Anonymous]

Anonymous wrote:

Anonymous wrote:I'm sorry you can't afford the house you want OP

I'm struggling to understand the value proposition for Lyon Village. If I had $3mil I don't think I would buy there. I'd buy in NW DC or on the Hill, and save the extra for private school.

Were all these $3mil houses flipped/new construction in anticipation of Amazon execs moving in?

Builders have been tearing down in LV for decades. Nothing new.

There’s just limited supply so prices jump up with high demand - new builds have gone up $1M or so in the last year or two.

Many people send their kids to public.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We lived on the Hill and loved it. We moved to a walkable part of Arlington after kids because:

(1) as non-federal employees we didn't get into a daycare or preschool on the Hill and wanted our 2-3 yo in a group program

(2) we wanted stable schools through elementary, middle and high school with a stable community without lots of kids leaving, moving to private or getting split by the lottery

(3) we wanted more outdoor space

(4) we wanted easier parking for us and our visitors (including private EV parking for our car)

(5) we wanted access to VA universities and colleges

(6) Arlington is closer to one of our jobs in VA

(7) not having to worry about petty theft like our stroller or bikes being stolen off our front porch is really nice

But did you buy a $3 mil house in Lyon Village? That is my specific question!

No, we bought near Lyon Village at a lower price point. We didnt have a $3m budget. But we did compare what we'd get on the Hill for our money versus metro-accessible Arlington and chose Arlington.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I'm sorry you can't afford the house you want OP

I'm struggling to understand the value proposition for Lyon Village. If I had $3mil I don't think I would buy there. I'd buy in NW DC or on the Hill, and save the extra for private school.

Were all these $3mil houses flipped/new construction in anticipation of Amazon execs moving in?

Maybe your valuation process is flawed.

Have you checked prices in DC for comparable properties? Prices have gone up a lot in many places this year. Find a decent, new construction home in quiet, walkable location in DC.

How much more/less is it than these LV homes?

How much do you have left from your $3M budget? If any.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How are the houses all 2-3 mil in Lyon Village?? You can get something really nice on Capitol Hill in DC for 1.5 mil with more character and a nicer neighborhood. And with the $1mil you save, send your kid to private MS/HS.

You’re talking about people who want completely different things. Not a good comparison.

I'm not so sure about that. Clearly people paying $3mil in Lyon Village are doing it for walkability, proximity to metro, urban amenities. For those with kids, schools (that admittedly provide HS/MS options that the Hill does not.) I'm not sure how much different crime can be compared to the area close-in on the Hill near the Capitol. The comparison to the Hill is not a specific argument for the Hill - I'm just struggling to understand the Lyon Village prices that seem so inflated for how frankly dumpy it looks on Street View. Is the extra $1mil because you have a detatched home and a yard, plus all the same walkability?

It's for all of this PLUS a quiet, suburban feel. It's more like the suburban areas of DC than Capitol Hill. AU Park, Cleveland Park, etc.

Walkable to some good stuff, but it's not all in your backyard.

yet … you can get a gorgeous AU park house for 1.5 mil?

AU Park is not as close to the metro and retail. You get a nice suburban feel but you're still dealing with DC services and disfunction. Also, it's much further from the downtown business core of DC and the commute to other major office areas (Tyson's, "National Landing", etc) is worse as well.

The houses that are actually selling in Lyon Village aren't going for that much more than $1.5 million. The $2-$3 million ones sit.

There are also fewer buyers in the 2-3M price range. Lower price points get snapped up because more people are competing for them. Many homes are selling in Lyon Village off-market, by the way. And they are going for 3M-ish. What you see on Zillow is far from the full picture. I imagine that’s the case for many desirable neighborhoods.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I'm sorry you can't afford the house you want OP

I'm struggling to understand the value proposition for Lyon Village. If I had $3mil I don't think I would buy there. I'd buy in NW DC or on the Hill, and save the extra for private school.

Were all these $3mil houses flipped/new construction in anticipation of Amazon execs moving in?

If you think spending ~$500k-$1m on private school is part of a value proposition, I don't know what to tell you.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We lived on the Hill and loved it. We moved to a walkable part of Arlington after kids because:

(1) as non-federal employees we didn't get into a daycare or preschool on the Hill and wanted our 2-3 yo in a group program

(2) we wanted stable schools through elementary, middle and high school with a stable community without lots of kids leaving, moving to private or getting split by the lottery

(3) we wanted more outdoor space

(4) we wanted easier parking for us and our visitors (including private EV parking for our car)

(5) we wanted access to VA universities and colleges

(6) Arlington is closer to one of our jobs in VA

(7) not having to worry about petty theft like our stroller or bikes being stolen off our front porch is really nice

But did you buy a $3 mil house in Lyon Village? That is my specific question!

Only 9 properties have sold for over $2.5 million in Lyon Village in the past 2 years one of those was an apartment building. The median sale price per Redfin is $1.85 Mil.

There are 10 sitting right now.

Yes. Because they are outside the normal range of the neighborhood. Look at what has actually sold in the last 6 months.

Weren’t most just listed this past week?

Seems like half of them are not built yet.

3 million dollar non new builds seems to have been sitting.

2.3 million dollar classic cottage new build on Franklin had a bad location (abuts commercial property).

There’s also a 2.9 million bcn new build on Franklin.

This 2 million dollar non new build went pending after 1 weekend

https://www.zillow.com/homedetails/1612-N-Garfield-St-Arlington-VA-22201/12078960_zpid/

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How are the houses all 2-3 mil in Lyon Village?? You can get something really nice on Capitol Hill in DC for 1.5 mil with more character and a nicer neighborhood. And with the $1mil you save, send your kid to private MS/HS.

You’re talking about people who want completely different things. Not a good comparison.

I'm not so sure about that. Clearly people paying $3mil in Lyon Village are doing it for walkability, proximity to metro, urban amenities. For those with kids, schools (that admittedly provide HS/MS options that the Hill does not.) I'm not sure how much different crime can be compared to the area close-in on the Hill near the Capitol. The comparison to the Hill is not a specific argument for the Hill - I'm just struggling to understand the Lyon Village prices that seem so inflated for how frankly dumpy it looks on Street View. Is the extra $1mil because you have a detatched home and a yard, plus all the same walkability?

It's for all of this PLUS a quiet, suburban feel. It's more like the suburban areas of DC than Capitol Hill. AU Park, Cleveland Park, etc.

Walkable to some good stuff, but it's not all in your backyard.

yet … you can get a gorgeous AU park house for 1.5 mil?

AU Park is not as close to the metro and retail. You get a nice suburban feel but you're still dealing with DC services and disfunction. Also, it's much further from the downtown business core of DC and the commute to other major office areas (Tyson's, "National Landing", etc) is worse as well.

The houses that are actually selling in Lyon Village aren't going for that much more than $1.5 million. The $2-$3 million ones sit.

There are like 10 2.5mil-3mil houses in Lyon Village sitting right now. So it's all urban walkability, then? I guess that's a win for the walkability discussion!

Yes. Walkability + suburban feel.

How do prices compare to Cleveland Park?

Seems like higher than Cleveland Park, by quite a bit