All of the housing stock under $1m is HORRIBLE

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Agree. We can't list our current place because I have no confidence we'll find something good to buy.

This is why we cannot move. We wouldn't even get much of an upgrade in housing if we moved further out. Plus, we would have bad commutes.

I would have to say negative on this one. Your $$ will get you a much better house further out. Trust me. We did it and so have thousands of others.

Nope. We stretched to buy our current home with our moderate incomes. We would just break-even (no desire to start over with a new mortgage when we have a rate <3% that will be paid off in 9 years) buying nicer but the transaction costs and lower quality of life (from bad commute) would be a net negative for us.

[Anonymous]

I disagree with your post title. The housing stock under $1M is not something you feel is worth the price tag and does not have the interior finishes that you desire.

That does not make it horrible. It makes it something that you are not interested in. The value of the housing stock in this area is the land. The house itself is mostly an add on.

[Anonymous]

Not for me. I live in PGC.

[Anonymous]

Anonymous wrote:

Anonymous wrote:sorry, nice homes cost $$$$$$$ here. mine is not for sale, but if it was it would be for over $900k. nice area with good schools (CCDC), but 3bd and only 1.5 bath. kitchen and bathrooms are from many decades ago, the full bathroom is maybe 5ft X 8 or 9 max. homes with 4bd and at least 2bth and in good shape are from 1.2M up.

Except a lot of these houses are not “nice.”

Houses in CCDC aren’t expensive because of the bricks, they’re expensive because of the compounding legacy of white supremacy.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Agree on poor options here. Looking for homes in the $700k range. Decided that renting a place I love in a neighborhood I love is a better choice than buying something just to be buying. Not willing to trade overall quality of life for dying with more money to my name than someone else has. In a position to buy if I see something I need to submit an offer for within days, but not going to rush it. The hardest part is ignoring all the people (up to their eyeballs in debt and enduring horrible commutes) who say I'm throwing money away.

I feel this way too, but there's nothing bigger than my current apartment for rent in the neighborhoods I want! I didn't think I'd hit my mid-30s with a second kid on the way and still be stuck in <1000 sq feet with no dishwasher, in unit laundry, yard, or space to host. It's goddamn pathetic and frustrating that it takes more than half a million dollars to get a patch of grass and space for a table that's not in the middle of your living room.

No offense but that's your own fault for not paying attention and making moves when you needed to. I'm younger than you and I read the market here years ago and am on my second home already. There's no feeling bad for people who aren't paying attention.

[Anonymous]

Not sure what you are talking about, OP. Plenty of nice townhomes in the 750K range in Fairfax, Arlington, Falls Church.

[Anonymous]

Anonymous wrote:I disagree with your post title. The housing stock under $1M is not something you feel is worth the price tag and does not have the interior finishes that you desire.

That does not make it horrible. It makes it something that you are not interested in. The value of the housing stock in this area is the land. The house itself is mostly an add on.

That would be fine, if the value of the structure was accurate. My lot is valued at $450k, the 50 year old dingy and dinky home is valued at $300k. No way the degraded materials are worth that much. More like maybe $150k, especially considering the structure is realistically at the end of its life span (most houses have an average life of 50 years.)