Is there going to be panic selling?

[Anonymous]

Anonymous wrote:Wouldn’t the RTO counter this trend a bit in DC proper? I know of many businesses that closed downtown during Covid. Hopefully those restaurants, bars, businesses will reopen now that most people need to be in the office 5 days a week. Also, with the RTO in place so see more people wanting to live in DC and move closer if they had previously prioritized larger homes in quieter areas because they only needed to commute a couple of days a week.
We also own and react out a few homes in DC and I am worried about people leaving the city.

No.

The RTO was meant to push people to quit and retire. Then there were the illegal firings. RIF will start by September. Whatever the RTO would have done for businesses has been negated by job instability. People can barely afford where they are let alone to move closer in and pay more (for a job that may not be there in a few months).

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

Where will they go? Rent or move away from the area and abandon their jobs here?

It’s expensive to live in the DMV area. You can go to some red state and get a nice house for 250k. Crap schools probably but maybe you can help flip that state blue along with the other fired Feds fleeing the DC area

Nice house for 250k? Where, I mean which decade are you writing this from?

We live in a nice house in NJ that
cost $238,000 in 2024.

Where?

NJ is big and includes rust belt and rural land. I am guessing Trenton or somewhere around Newark less savory parts or somewhere rural. Philly has a ton of properties under 300K, so does Baltimore, but you probably don't want to live anywhere there. And a "nice house" is a subjective opinion. You can get an SFH for under 300K in some quadrants of DC metro too, just a lot fewer of them than in around Baltimore, Philly, Trenton.

A nice house in a terrible place is no bargain at any price.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

Where will they go? Rent or move away from the area and abandon their jobs here?

It’s expensive to live in the DMV area. You can go to some red state and get a nice house for 250k. Crap schools probably but maybe you can help flip that state blue along with the other fired Feds fleeing the DC area

Nice house for 250k? Where, I mean which decade are you writing this from?

We live in a nice house in NJ that
cost $238,000 in 2024.

Where?

Marlton

I don't see anything below $350k
Can you link me some of these houses please?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

Where will they go? Rent or move away from the area and abandon their jobs here?

It’s expensive to live in the DMV area. You can go to some red state and get a nice house for 250k. Crap schools probably but maybe you can help flip that state blue along with the other fired Feds fleeing the DC area

Nice house for 250k? Where, I mean which decade are you writing this from?

We live in a nice house in NJ that
cost $238,000 in 2024.

Where?

Marlton

I don't see anything below $350k
Can you link me some of these houses please?

I don’t have links as I only know about our house that we bought in 2024.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Wouldn’t the RTO counter this trend a bit in DC proper? I know of many businesses that closed downtown during Covid. Hopefully those restaurants, bars, businesses will reopen now that most people need to be in the office 5 days a week. Also, with the RTO in place so see more people wanting to live in DC and move closer if they had previously prioritized larger homes in quieter areas because they only needed to commute a couple of days a week.
We also own and react out a few homes in DC and I am worried about people leaving the city.

No.

The RTO was meant to push people to quit and retire. Then there were the illegal firings. RIF will start by September. Whatever the RTO would have done for businesses has been negated by job instability. People can barely afford where they are let alone to move closer in and pay more (for a job that may not be there in a few months).

RIFs are due by September at the latest but many will start at the end of this month through next month. I think it's mostly going to be the suburbs and exurbs though. Where do people think federal employees can afford to buy? They are buying in Gaithersburg not NW unless it was decades ago in which case they won't need to sell anyway.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Wouldn’t the RTO counter this trend a bit in DC proper? I know of many businesses that closed downtown during Covid. Hopefully those restaurants, bars, businesses will reopen now that most people need to be in the office 5 days a week. Also, with the RTO in place so see more people wanting to live in DC and move closer if they had previously prioritized larger homes in quieter areas because they only needed to commute a couple of days a week.
We also own and react out a few homes in DC and I am worried about people leaving the city.

No.

The RTO was meant to push people to quit and retire. Then there were the illegal firings. RIF will start by September. Whatever the RTO would have done for businesses has been negated by job instability. People can barely afford where they are let alone to move closer in and pay more (for a job that may not be there in a few months).

RIFs are due by September at the latest but many will start at the end of this month through next month. I think it's mostly going to be the suburbs and exurbs though. Where do people think federal employees can afford to buy? They are buying in Gaithersburg not NW unless it was decades ago in which case they won't need to sell anyway.

Contractors and lawyers are being impacted too - this is not exclusive to feds. Feds may also be married to non-feds and/or may have received family help to buy in nicer areas.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Wouldn’t the RTO counter this trend a bit in DC proper? I know of many businesses that closed downtown during Covid. Hopefully those restaurants, bars, businesses will reopen now that most people need to be in the office 5 days a week. Also, with the RTO in place so see more people wanting to live in DC and move closer if they had previously prioritized larger homes in quieter areas because they only needed to commute a couple of days a week.
We also own and react out a few homes in DC and I am worried about people leaving the city.

No.

The RTO was meant to push people to quit and retire. Then there were the illegal firings. RIF will start by September. Whatever the RTO would have done for businesses has been negated by job instability. People can barely afford where they are let alone to move closer in and pay more (for a job that may not be there in a few months).

RIFs are due by September at the latest but many will start at the end of this month through next month. I think it's mostly going to be the suburbs and exurbs though. Where do people think federal employees can afford to buy? They are buying in Gaithersburg not NW unless it was decades ago in which case they won't need to sell anyway.

My hair stylist told me one of her clients is selling her home in Arlington due to job loss. Her clients is moving her family out of state. I think feds and fed contractors live all over the area.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

Where will they go? Rent or move away from the area and abandon their jobs here?

It’s expensive to live in the DMV area. You can go to some red state and get a nice house for 250k. Crap schools probably but maybe you can help flip that state blue along with the other fired Feds fleeing the DC area

Nice house for 250k? Where, I mean which decade are you writing this from?

We live in a nice house in NJ that
cost $238,000 in 2024.

Where?

Marlton

I don't see anything below $350k
Can you link me some of these houses please?

I don’t have links as I only know about our house that we bought in 2024.

Single family? I see the two cheapest sold in that area are $350 and $333k 118 Kenilworth rd and 3 laura lane. In 2024.

[Anonymous]

No. There no panic selling. Housing market goes up forever.

[Anonymous]

Maybe in 3-5 years once people exhaust all of their funds, still grapple with steady employment and can no longer get any more credit. I have $1.3 set aside for when this happens because I am going to buy up as much land and homes that I can get so I can rent them out and hold onto them to resell when they are at their next high. I just sold one of my rental homes and netted $389k!! Very happy to have a good nest egg and pay for my daughters college tuition in cash.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

Where will they go? Rent or move away from the area and abandon their jobs here?

It’s expensive to live in the DMV area. You can go to some red state and get a nice house for 250k. Crap schools probably but maybe you can help flip that state blue along with the other fired Feds fleeing the DC area

Nice house for 250k? Where, I mean which decade are you writing this from?

We live in a nice house in NJ that
cost $238,000 in 2024.

Where?

Marlton

I don't see anything below $350k
Can you link me some of these houses please?

I don’t have links as I only know about our house that we bought in 2024.

Single family? I see the two cheapest sold in that area are $350 and $333k 118 Kenilworth rd and 3 laura lane. In 2024.

DP. Why are you doxxing the poster

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

Where will they go? Rent or move away from the area and abandon their jobs here?

It’s expensive to live in the DMV area. You can go to some red state and get a nice house for 250k. Crap schools probably but maybe you can help flip that state blue along with the other fired Feds fleeing the DC area

Nice house for 250k? Where, I mean which decade are you writing this from?

We live in a nice house in NJ that
cost $238,000 in 2024.

"This is dirt. It ain't good for nothing but it's my dirt." Guess the classic movie.


Where?

NJ is big and includes rust belt and rural land. I am guessing Trenton or somewhere around Newark less savory parts or somewhere rural. Philly has a ton of properties under 300K, so does Baltimore, but you probably don't want to live anywhere there. And a "nice house" is a subjective opinion. You can get an SFH for under 300K in some quadrants of DC metro too, just a lot fewer of them than in around Baltimore, Philly, Trenton.

A nice house in a terrible place is no bargain at any price.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

Where will they go? Rent or move away from the area and abandon their jobs here?

It’s expensive to live in the DMV area. You can go to some red state and get a nice house for 250k. Crap schools probably but maybe you can help flip that state blue along with the other fired Feds fleeing the DC area

Nice house for 250k? Where, I mean which decade are you writing this from?

We live in a nice house in NJ that
cost $238,000 in 2024.

"This is dirt. It ain't good for nothing but it's my dirt." Guess the classic movie.


Where?

NJ is big and includes rust belt and rural land. I am guessing Trenton or somewhere around Newark less savory parts or somewhere rural. Philly has a ton of properties under 300K, so does Baltimore, but you probably don't want to live anywhere there. And a "nice house" is a subjective opinion. You can get an SFH for under 300K in some quadrants of DC metro too, just a lot fewer of them than in around Baltimore, Philly, Trenton.

A nice house in a terrible place is no bargain at any price.

"This is dirt. It ain't good for nothing but it's my dirt." Guess the classic movie.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

Where will they go? Rent or move away from the area and abandon their jobs here?

Because that’s poster is obviously lying and this person is pointing it out.
It’s expensive to live in the DMV area. You can go to some red state and get a nice house for 250k. Crap schools probably but maybe you can help flip that state blue along with the other fired Feds fleeing the DC area

Nice house for 250k? Where, I mean which decade are you writing this from?

We live in a nice house in NJ that
cost $238,000 in 2024.

Where?

Marlton

I don't see anything below $350k
Can you link me some of these houses please?

I don’t have links as I only know about our house that we bought in 2024.

Single family? I see the two cheapest sold in that area are $350 and $333k 118 Kenilworth rd and 3 laura lane. In 2024.

DP. Why are you doxxing the poster

[Anonymous]

We thought we had a good chance at a house in a very nice part of Alexandria and went back to the open house today. While we were there for 10 minutes, there were three other couples who were also having a second look and all of us had done pre-inspections. We just looked at each other and said "good luck." We are waiving everything and paying $75K above the asking price that was $24,000 higher than the most recent comp from November 2024.

I am not sure whether to wait for the panic selling or wait each weekend and watch the prices get bid up.

Any advice?