Is there going to be panic selling?

[Anonymous]

Vance’s house is listed, not a mystery. He’s in public housing now.

[Anonymous]

I know a few Feds in 40s and 1 50+ who have found new jobs. I think it will be ok. Many will want to move closer in if homes do become available.

[Anonymous]

Anonymous wrote:Vance’s house is listed, not a mystery. He’s in public housing now.

Ha ha imagining the Secret Service motorcade pulling up to Syphax Gardens each morning.

[Anonymous]

Anonymous wrote:Vance is selling his Del Ray home. Relocating within the DMV or fleeing is the question.

Makes sense. His neighbors already hate him and will hate him even more when he destroys their home values and communities. Plus, he knows that, from the Naval Obs, he is either moving to the WH, or out to MAGA-land. It's not like he'd go back to the Senate. Wonder if his wife is at all sad to lose that community.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Vance is selling his Del Ray home. Relocating within the DMV or fleeing is the question.

Makes sense. His neighbors already hate him and will hate him even more when he destroys their home values and communities. Plus, he knows that, from the Naval Obs, he is either moving to the WH, or out to MAGA-land. It's not like he'd go back to the Senate. Wonder if his wife is at all sad to lose that community.

Oh yeah, I'm sure that community was lovely to her.

[Anonymous]

I have been looking on line and Rehoboth is getting a lot of new listings piling up.

I guess with RTO, high mortgage rates on second homes, possible Govt lay-offs the beach house or condo is first to go.

For fun I looked at Slaughter Beach, Ocean City and Fenwick Island too and a lot of homes for sale purchased in that Spring 2020 to Spring 2023 era of 100 percent WFH era and when rates lower.

Of course all listed 100k to 300K higher than just 2-4 years ago.

We shall see. I think that market will crack before DMV.

[Anonymous]

Anonymous wrote:I have been looking on line and Rehoboth is getting a lot of new listings piling up.

I guess with RTO, high mortgage rates on second homes, possible Govt lay-offs the beach house or condo is first to go.

For fun I looked at Slaughter Beach, Ocean City and Fenwick Island too and a lot of homes for sale purchased in that Spring 2020 to Spring 2023 era of 100 percent WFH era and when rates lower.

Of course all listed 100k to 300K higher than just 2-4 years ago.

We shall see. I think that market will crack before DMV.

Anecdotally, you see that all over the place.

If you look at the top markets with huge increases in inventory and price declines, most are in Florida and it's tons of listings from people that purchased in 2020/2021.

[Anonymous]

I assume most Fed and consultants/contractors in the DMV bought their homes ages ago. So I assume a lot of these people have reasonable mortgages and will.priabblu be okay if laid off.

The folks who recently bought at 6% and higher and with inflated home prices of course will have a hard time keeping their homes if laid off.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Vance is selling his Del Ray home. Relocating within the DMV or fleeing is the question.

Makes sense. His neighbors already hate him and will hate him even more when he destroys their home values and communities. Plus, he knows that, from the Naval Obs, he is either moving to the WH, or out to MAGA-land. It's not like he'd go back to the Senate. Wonder if his wife is at all sad to lose that community.

Oh yeah, I'm sure that community was lovely to her.

It does suck to be a POS that nobody likes

[Anonymous]

Anonymous wrote:

Anonymous wrote:I have been looking on line and Rehoboth is getting a lot of new listings piling up.

I guess with RTO, high mortgage rates on second homes, possible Govt lay-offs the beach house or condo is first to go.

For fun I looked at Slaughter Beach, Ocean City and Fenwick Island too and a lot of homes for sale purchased in that Spring 2020 to Spring 2023 era of 100 percent WFH era and when rates lower.

Of course all listed 100k to 300K higher than just 2-4 years ago.

We shall see. I think that market will crack before DMV.

Anecdotally, you see that all over the place.

If you look at the top markets with huge increases in inventory and price declines, most are in Florida and it's tons of listings from people that purchased in 2020/2021.

+1 Florida is one place where there may indeed be panic selling. No one can afford insurance there and when people lose jobs and/or their investment accounts fall, second homes are often the first thing to go.

[Anonymous]

My friend is panic selling. They are not feds but know the DC market will go down so they want to get the most amount out of their house.

[Anonymous]

Anonymous wrote:Vance is selling his Del Ray home. Relocating within the DMV or fleeing is the question.

He famously relocated six weeks ago. Which listing is it?

[Anonymous]

A lot of national weather service people have been fired/laid off and now the word on the street is, it’s going to be privatized. I wonder if that’s going to be the case for a lot of agencies and if so, will this create more job opportunities here or will automation be the focus.

[Anonymous]

After this press conference, I would sell.

[Anonymous]

Anonymous wrote:I’m not a fed and have a fairly stable job (I hope!). Even with a 2.6% mortgage, if I lost my job, I’d sell or lease my house if I didn’t find another job quickly to reduce costs.

This is why some people like to pay off their mortgage if they can. Nothing is guaranteed in life.