Since when did AU Park become a $1.5m range neighborhood?

[Anonymous]

http://franklymls.com/DC8263545
Under contract in 4 days. Look I'm happy for you guys that live there but this is a bit bubbly no?

[Anonymous]

There have been multiple threads where people who are surprised homes are expensive think it is evidence of a bubble. That term does not mean what you think it means.

[Anonymous]

AU prices have jumped up in the past year. Any semi-decent 4 bedroom/3 bath colonial is now 1.1K whereas last year they were $950k. We are trying to buy and keep getting outbid at the 1.1+ range. And several times have lost to all cash offers.

[Anonymous]

Anonymous wrote:There have been multiple threads where people who are surprised homes are expensive think it is evidence of a bubble. That term does not mean what you think it means.

So prices rising rapidly in expectation of higher prices in the future? Sounds like a bubble to me.

[Anonymous]

Anonymous wrote:

Anonymous wrote:There have been multiple threads where people who are surprised homes are expensive think it is evidence of a bubble. That term does not mean what you think it means.

So prices rising rapidly in expectation of higher prices in the future? Sounds like a bubble to me.

no, prices are rising rapidly because there are a lot more buyers that homes on the market

[Anonymous]

I do not get the appeal of AU Park AT ALL. If you want to live in the city, I get it, but live in an actual urban area then- AU Park is not that! The metro is far from most homes in the neighborhood, and I hardly consider walkability to the spring valley shops to be much of a positive. Move 5 minutes farther down Mass Ave or River Rd over the MD line and get the same architecture but the excellent Westbrook schools! Plus walkability to Friendship Heights from some streets! Or, move east and get thyself closer to a metro stop and some better commercial areas along CT Ave.

[Anonymous]

Sad

[Anonymous]

I know the husband who owned this. They keep up their house well so it probably seemed well kept and repaired.

[Anonymous]

Looks small in that photo- but it's actually spacious and gorgeously done.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There have been multiple threads where people who are surprised homes are expensive think it is evidence of a bubble. That term does not mean what you think it means.

So prices rising rapidly in expectation of higher prices in the future? Sounds like a bubble to me.

no, prices are rising rapidly because there are a lot more buyers that homes on the market

+1 the fact that a neighborhood is more expensive than you would personally pay for it is not an indication that people are engaging in real estate speculation.

[Anonymous]

SHocked that that house is 1.4 million. I would have guessed 1 million max.

[Anonymous]

I am shocked at that price as well. I would have guessed even 1.1 but 1.4 is outrageous for that house.

[Anonymous]

Interesting. I expected 5 bedrooms at that price.

[Anonymous]

What a great house! It's bright and airy. The bedrooms are also big. Most of the AU Park houses I've seen in the $1.1m range have tiny bedrooms and old bathrooms.

[Anonymous]

Anonymous wrote:

Anonymous wrote:There have been multiple threads where people who are surprised homes are expensive think it is evidence of a bubble. That term does not mean what you think it means.

So prices rising rapidly in expectation of higher prices in the future? Sounds like a bubble to me.

I think "bubble" implies that the prices are not sustainable?