Very little inventory in desirable areas

[Anonymous]

Anonymous wrote:

Anonymous wrote:I'm looking in 20814, walking distance to Metro but not East Bethesda (great neighborhood - lots are a little smal) with a budget of $2 million and can't find anything.

MC8180637?
MC8297091?
MC8285890?

Don't love the first two as I'm not a big fan of new construction, but I LOVE the third one. Too small a lot for you?

I don't like the first listing. A narrow street too close-in for me but the other two are really nice. Need to consider 20815 in addition to 20814. Thanks!

[Anonymous]

Anonymous wrote:

Anonymous wrote:My realtor tells me that she often sees younger buyers who are coming from recently built condos who can't accept that all of the close in real estate is older stock, much of it unrenovated and that it still has a high price tag. Too much hgtv I guess. Sometimes inventory problems are the result of unreasonable expectations.

I get this. And I also get that land is very pricey here, but why are so many of these houses not renovated?

Granted anyone living in Kent, W.H. , CC, Spring Valley can afford to renovate, but what is required is motivation. Who lacks motivation?


1) individuals with poor taste ( just because you have money….)
2) individuals with very little spark left in 'em because they have worked for the gov't for 40 years
3) CIA agnets who are never home and care about no one
4) politicians who are never home
5) government employees for 30 years

you get he pictture

[Anonymous]

Add families with children who don't want to deal with the disruption and can't decide anyway if it's better to renovate and stay or buy another house. (That would be us.)

[Anonymous]

We wanted to buy two years ago very close in with a $2m budget. There is plenty but not what you would think. The thing is at $2m you put down 20-25%. We ended spending nearly $3.5m on one that needed another $500-750k of work. At that price range we took at $2m mortgage and put down the balance. We are funding the work out of cash flow. We are incredibly fortunate to be able to do this. But I think the fact that $2m is about the max mortgage you can get before they are at much lower ltvs is why up to $2m is not particularly impressive in this area. I also think it is why stuff at $2m + often requires more renovating than you would think

[Anonymous]

Anonymous wrote:We wanted to buy two years ago very close in with a $2m budget. There is plenty but not what you would think. The thing is at $2m you put down 20-25%. We ended spending nearly $3.5m on one that needed another $500-750k of work. At that price range we took at $2m mortgage and put down the balance. We are funding the work out of cash flow. We are incredibly fortunate to be able to do this. But I think the fact that $2m is about the max mortgage you can get before they are at much lower ltvs is why up to $2m is not particularly impressive in this area. I also think it is why stuff at $2m + often requires more renovating than you would think

I am playing the world's smallest violin for you and others in this situation.

If houses in those neighborhoods command $1.5m but still need some renovations (in the buyer's mind) then you can't afford it unless you can comfortably pay $1.5m + reno costs, whatever the interest rate, lending requirements, etc. If you can't pay it, look in another neighborhood for somethign less expensive. This is not rocket science. It is a concept that applies to real estate buyers at every price level. Of course, people in your price range often inexplicably feel that they "deserve" more for their money. So sorry.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:People just want to pay less for more.

There are houses on the market in these areas.

http://franklymls.com/DC8250120

http://franklymls.com/DC8288220

That first one is gorgeous. Come on, OP, what's wrong with that one?

I like the second one too and you would have plenty of money left over to paint throughout and redo the kitchen.

The first one is nice but why are they selling after only owning it one year? That always makes me nervous.

The owners are an older couple who have some health issues and need to move.

[Anonymous]

Anonymous wrote:People just want to pay less for more.

There are houses on the market in these areas.

http://franklymls.com/DC8250120

http://franklymls.com/DC8288220

Love the first listing - beautifully furnished too.

[Anonymous]

Anonymous wrote:Very little in CCDC, Forest Hills, Kent, Spring Valley. We've looked all over NW from upper 20007 to 20008 to 20016 to 20015. When do the 1.5-1.75m come on the market? Nothing in even 20012.

Op, what is the rush? Do you already live in DC area? Maybe just wait until next year and see if more open up?

[Anonymous]

Got a letter from someone today who wants to buy my house.

I don't want to sell it though.

[Anonymous]

Anonymous wrote:

Anonymous wrote:People just want to pay less for more.

There are houses on the market in these areas.

http://franklymls.com/DC8250120

http://franklymls.com/DC8288220

Love the first listing - beautifully furnished too.

You can sit on the edge of your tub while getting in front of the vanity.

You people have some really low standards if you think a house that is 1.6 million should look like this.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:People just want to pay less for more.

There are houses on the market in these areas.

http://franklymls.com/DC8250120

http://franklymls.com/DC8288220

Love the first listing - beautifully furnished too.

You can sit on the edge of your tub while getting in front of the vanity.

You people have some really low standards if you think a house that is 1.6 million should look like this.

Let's see your ideal for $1.6.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:People just want to pay less for more.

There are houses on the market in these areas.

http://franklymls.com/DC8250120

http://franklymls.com/DC8288220

Love the first listing - beautifully furnished too.

You can sit on the edge of your tub while getting in front of the vanity.

You people have some really low standards if you think a house that is 1.6 million should look like this.

Let's see your ideal for $1.6.

I agree, there are amazing new homes for that price in McLean, I say amazing when compared to the above DC homes.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:People just want to pay less for more.

There are houses on the market in these areas.

http://franklymls.com/DC8250120

http://franklymls.com/DC8288220

Why does that second one make me so sad? I think because it looks like someone really lived there for a long time and loved it.

I love the second one for the exact same reason!

I'm the one who said it made me sad, and I love it, too. It seems like you hardly ever see lived-in, long-loved houses on the market still looking so personal. I imagine those people who are selling it had kids, maybe raised a big family there, and now it's too much house for them and they have to sell. I get very attached to houses, though.

Hello friend, I share your sentiment - but my husband tells me I could get sad about anything and he's kinda right. Maybe the former owners had a messy divorce. Highly doubt it though!