I think the bubble is popping.
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Anonymous
Income tax rate in moco sucks, and no jobs in the county is the reason. |
Anonymous
According to the Washington Post, these were the fastest growing zip codes in 2020. https://www.washingtonpost.com/business/interactive/2021/mapping-dc-regions-2020-housing-market/ Prince William 20143 42.1% Calvert 20685 32.4% Prince Georges 20712 28.1% Frederick 21758 26.2% Fairfax 20190 25.4% Loudoun 20117 23.0% Prince William 20109 20.3% Prince Georges 20769 20.0% Montgomery 20852 19.4% District of Columbia 20011 18.9% |
Anonymous
Yes and No. In both MD and VA, the top state tax rate is 5.75%. In MD, you pay an additional ~3.2% as county level tax. So, let's take the typical case of a dual income family in the DMV with an HHI of $200K. This is essentially two feds, or similar private sector jobs, and is probably more than 50% of the DMV. I'm using rough numbers here, and everybody's case will be different, so keep that mind. - Gross Income $200K - Taxable income (for Federal and State and Local), let's say $150K. The difference between MD and VA tax burden in this case will be $4,800. But...VA has the car tax and a family of two earners will most likely have at least two cars. Even at the low end, the car tax may be $400-500 per car per year. Now, we're down to a difference of ~$3800. Factor in more tolls in VA, tax on groceries (not in MD), trash pickup charges etc and the difference shrinks even more. My point is that, YES, the tax burden in MD is higher, but even at an HHI of $200K, it's not THAT much more. Now, if you were making $1M/yr...that's a different story altogether (although, try owning a Lamborghini in VA....). Even at an HHI of $500K we're talking less than $10K per year. If an equivalent house is $200K cheaper on the MD side, there goes the $10K difference. With WFH becoming even more prevalent, commuting is less of a factor in deciding where to live. |
Anonymous
| I see the market is slowing down in the outer suburb. Would this trend continue and should I wait until next spring? Or is it just a seasonal slowdown and we will have another crazy spring? |
Anonymous
| Market in McLean is picking up again these past two weeks, after a relatively slow summer. It will boom again after Labor Day until winter… my crystal ball says. |
Anonymous
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A sign of (coming) times? Prime Arlington location, 0.23ac lot, which is fairly decent sized for the location, no glaring issues with the house.
~$100K UNDER assessed value. https://www.redfin.com/VA/Arlington/3609-N-Rockingham-St-22213/home/11226461 
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Anonymous
| It’s on wrong side of Potomac. |
Anonymous
This is the same as that other 2014 house. A corner lot with a big house set all the way back in the lot so there is ZERO backyard. Plus this is an 80s time capsule other than a VESSEL sink of all things. |
Anonymous
You can nitpick all you want, but it's a 5700sqft house in North Arlington for under $1.5M. All the Arlington posters who were screaming "$2M is the new $1M" etc etc... |
Anonymous
This house if FAR from an 80s time capsule. Seriously. |
Anonymous
| I'm sorry, I don't understand. The house is LISTED at just under 1.5. We don't know what it will sell for yet. List prices don't mean much. |
Anonymous
How many houses have you seen lately that are priced for "a bidding war", yet, listed BELOW assessment? |
Anonymous
They are inspired by the Bay Area https://www.nytimes.com/2021/09/07/realestate/house-hunting-is-this-price-right.html |
Anonymous
ok. Give it a few days. Let's see. |
Anonymous
And then there's this idiot...the price history speaks for itself. A MASSIVE $1 , you read that right, ONE DOLLAR drop every few days. If that doesn't show you a bubble...and the coming collapse...
https://www.redfin.com/VA/Arlington/2424-N-Edgewood-St-22207/home/11279089 
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