Buying a house for less than 400K?

[Anonymous]

OP again - Thanks for the neighborhood and zip code info. I'll check those out.

Yes, we're planning on staying in the DC area permanently, which is why we thought to buy.

I'd probably like to avoid having to do private schools.... mostly for financial reasons. So, we'd prefer someplace with decent schools.

[Anonymous]

Check out Kensington, MD. Some areas aren't too far from Wheaton metro or the train station.

[Anonymous]

Anonymous wrote:Check out Kensington, MD. Some areas aren't too far from Wheaton metro or the train station.

OP again - I just saw the thread below regarding Kensington.

[Anonymous]

You could also try not-quite-downtown Silver Spring - along Colesville Rd. The 20901 zip code. Not the best schools in the county, and not quite within 3 miles of a metro, but there are decent-sized sfh under $400,000, as well as a ton of townhouses and it's a safe, relatively convenient area.

[Anonymous]

You have to be careful with Silver Spring. We moved from the 20906 zip code of Silver Spring from a great 4 bdrm all brick home we loved b/c the schools were terrible and we couldn't swing private high school (we could swing Catholic elem tuition which is in the $6k range -- but the HSs are upwards of $15k). Check out the Montgomery County Public Schools website -- each school has a one-pager that gives you stats on demographics and test scores. When I say demographics, I'm really referring to socioeconomic info -- see how many kids receive FARMs (free and reduced meals) and whether the school is Title 1 (which means the vast majority of kids are extremely low income so the school receives special funding for safety-net type programs). Also check out suspension rates -- which should be nonexistent for elementary schools.

[Anonymous]

Just wanted to chime in on the VRE mention. VRE is great and, although it is getting more crowded these days due to gas prices, it's way more reliable and pleasant than riding Metro. I'm having to switch to Metro later this year because my office is moving and I'm not looking forward to it. At least if there is a service disruption on VRE, you have access to a restroom, pleasant seating accomodations (unless you're unlikely enough to not get a seat) and a better view. Bottom line - don't rule out commutes that have access to VRE or MARC.

[Anonymous]

Are you willing to take on the risks (liens, back taxes, fixing up, sometimes major repairs) of a house going through foreclosure?
They're usually bargains, but like I said, you might have to read the fine print and make sure you know what you are getting into.

Check the MLS reports too and type in the price range. That is how we find ours.

[Anonymous]

Anonymous wrote:This makes me so sad. Those homes are less than the small townhouse that we bought in 2006 right before the market crapped out. We are now stuck here since we have lost ALL of our equity. I cannot believe those homes are going for $300,000 in Derwood.

Hi - as a comfort - you are not alone. We are exactly in the same boat. It totally sucks. We so overpaid. Could get a much larger house in the same hood fro what we paid just a year ago.

[Anonymous]

There are so many wonderful neighborhoods in PG county where you can buy a great SFH for $300K. Of course, DCUM'ers always seem to dismiss the area. However, Mt. Rainier and old Hyattsville really do meet all of the OP's requirements. AND they are very close to downtown. AND there's lots of great development in the area. AND if you aren't thrilled with the public schools there are some very reasonably priced, wonderful, lesser-known private schools in the area where a lot of us send our kids. Of course, we can afford it because we all got our houses for great prices!

Check out zip codes 20712 and 20781. Of course there's also Cheverly and Old Greenbelt...a little further out, but still really great communities where you can get exactly the house you're looking for, and pay far less than $400K.

[Anonymous]

Anonymous wrote:

Anonymous wrote:This makes me so sad. Those homes are less than the small townhouse that we bought in 2006 right before the market crapped out. We are now stuck here since we have lost ALL of our equity. I cannot believe those homes are going for $300,000 in Derwood.

Hi - as a comfort - you are not alone. We are exactly in the same boat. It totally sucks. We so overpaid. Could get a much larger house in the same hood fro what we paid just a year ago.

Us too. We bought our "starter home" in 2005, thinking we were being smart to get out of the renting gig. Now there's a foreclosed house on every block in our neighborhood. I hate feeling so stuck in our too expensive house.

[Anonymous]

Highview Park is your best bet in No Arl. It is <2-mi to Ballston Metro, close to Glebe ES, and Virginia Hospital.

AR6751189
$330,000 3/1/1 4700 sf
1831 CULPEPER ST N
ARLINGTON VA 22207

same street (short sale)

AR6793406
$390,000 3/1/1 2500 sf
2215 CULPEPER ST S
ARLINGTON VA 22207

this one is over $400K but you can wait it out.
AR6878026
$445,000 5/2/0 2500 sf
1727 EDISON ST
ARLINGTON VA 22207

check back to this thread if you want and i'll update the listings.

good luck.

[Anonymous]

You could MAYBE find a major fixer upper in Brookland.

[Anonymous]

try Twinbrook in Montgomery county...less expensive houses, metro in neighborhood...

[Anonymous]

Anonymous wrote:Highview Park is your best bet in No Arl. It is <2-mi to Ballston Metro, close to Glebe ES, and Virginia Hospital.

AR6751189
$330,000 3/1/1 4700 sf
1831 CULPEPER ST N
ARLINGTON VA 22207

same street (short sale)

AR6793406
$390,000 3/1/1 2500 sf
2215 CULPEPER ST S
ARLINGTON VA 22207

this one is over $400K but you can wait it out.
AR6878026
$445,000 5/2/0 2500 sf
1727 EDISON ST
ARLINGTON VA 22207

check back to this thread if you want and i'll update the listings.

good luck.

Wow, those seem like great deals for the area. I'll definitely check back into this thread.
I'm wondering what the places look like on the inside.
I delivered at VHC, so I think I know where those houses are (from driving back and forth).
Thanks.

[Anonymous]

I second Twinbrook. We love living here...lots of young families, small cape cods (4bd, 2 bth usually), metro walking, small shopping center walking, local swimming pool, tennis courts, communicty center, all walking distance. people greet each other and help out each other all the time.