$750K is the new normal in desirable areas in the DMV

[Anonymous]

$750K is the new normal for this area: http://m.washingtonpost.com/realestate/what-you-can-buy-for-750000-in-the-washington-area-housing-market/2013/06/12/300cec28-d216-11e2-9f1a-1a7cdee20287_story.html
Where are the people with this kind of money coming from?

[Anonymous]

Why the fuck is that house in Fredericksburg $750K?

[Anonymous]

people will overspend. we were told with a 250k hhi we should buy a $750k home. sorry, no.

[Anonymous]

Anonymous wrote:people will overspend. we were told with a 250k hhi we should buy a $750k home. sorry, no.

k live in shack congrats

[Anonymous]

250k hhi with a mortage of 650k or so should be perfectly manageable unless you have twin 2013 Lexuses or $150k of student loan debt.

it's when you start going to mortgages that are more than 4x income that you start getting iffy.

[Anonymous]

i wouldn't pay 750k for any of the houses featured.

[Anonymous]

Anonymous wrote:i wouldn't pay 750k for any of the houses featured.

Me neither. So strange considering what I just saw looking for houses for the other poster.

[Anonymous]

Anonymous wrote:250k hhi with a mortage of 650k or so should be perfectly manageable unless you have twin 2013 Lexuses or $150k of student loan debt.

it's when you start going to mortgages that are more than 4x income that you start getting iffy.

This sounds nuts to me, though I am starting to think we're the exceptions in this area rather than the rule. We have a HHI over $250K and our house is worth more like $500K and we have two older used cars. No student loan debt and mortgage is nearly paid off. Living below our means has kept us secure and happy, with big retirement and college funds.

[Anonymous]

Anonymous wrote:

Anonymous wrote:250k hhi with a mortage of 650k or so should be perfectly manageable unless you have twin 2013 Lexuses or $150k of student loan debt.

it's when you start going to mortgages that are more than 4x income that you start getting iffy.

This sounds nuts to me, though I am starting to think we're the exceptions in this area rather than the rule. We have a HHI over $250K and our house is worth more like $500K and we have two older used cars. No student loan debt and mortgage is nearly paid off. Living below our means has kept us secure and happy, with big retirement and college funds.

you only live once and if you hand all your money to your children they will burn though it

[Anonymous]

I do wonder what most HHI are for these houses. We were offered a job to move back to DC with just under 250,000 but home prices at 750,000 for close in were just too much for us. And all these 750,000 houses(Arlington) needed lots of work.

[Anonymous]

Anonymous wrote:

Anonymous wrote:250k hhi with a mortage of 650k or so should be perfectly manageable unless you have twin 2013 Lexuses or $150k of student loan debt.

it's when you start going to mortgages that are more than 4x income that you start getting iffy.

This sounds nuts to me, though I am starting to think we're the exceptions in this area rather than the rule. We have a HHI over $250K and our house is worth more like $500K and we have two older used cars. No student loan debt and mortgage is nearly paid off. Living below our means has kept us secure and happy, with big retirement and college funds.

Great, but when did you buy your $500K house? Timing matters. If you were lucky enough to buy before 2003, you are no model of virtue' you just benefited from timing. Many would be thrilled to be in a $500K home now but they are not plentiful!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:250k hhi with a mortage of 650k or so should be perfectly manageable unless you have twin 2013 Lexuses or $150k of student loan debt.

it's when you start going to mortgages that are more than 4x income that you start getting iffy.

This sounds nuts to me, though I am starting to think we're the exceptions in this area rather than the rule. We have a HHI over $250K and our house is worth more like $500K and we have two older used cars. No student loan debt and mortgage is nearly paid off. Living below our means has kept us secure and happy, with big retirement and college funds.

you only live once and if you hand all your money to your children they will burn though it

Mmmm no one said anything about "handing all the money to the kids." Personally we prefer to have a house lower than we "can" afford too. I was paying college debt into my 30s and would prefer not to have my kids do the same. We also like to travel, both now and hopefully when we retire.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:250k hhi with a mortage of 650k or so should be perfectly manageable unless you have twin 2013 Lexuses or $150k of student loan debt.

it's when you start going to mortgages that are more than 4x income that you start getting iffy.

This sounds nuts to me, though I am starting to think we're the exceptions in this area rather than the rule. We have a HHI over $250K and our house is worth more like $500K and we have two older used cars. No student loan debt and mortgage is nearly paid off. Living below our means has kept us secure and happy, with big retirement and college funds.

Great, but when did you buy your $500K house? Timing matters. If you were lucky enough to buy before 2003, you are no model of virtue' you just benefited from timing. Many would be thrilled to be in a $500K home now but they are not plentiful!

Yeah no kidding. That's what we're all looking for I guess!

[Anonymous]

People have a great sense of security in jobs here so you don't need to save up in case you lose a job because you can go out and find one in a week. That causes prices to be higher in our area on top of low inventory.

[Anonymous]

Anonymous wrote:i wouldn't pay 750k for any of the houses featured.

So what would you pay 750 for in the dc area? Where are the better options? I like the G St and the Shirlington houses - both nice and in fun areas.