$750K is the new normal in desirable areas in the DMV

[Anonymous]

Anonymous wrote:

Anonymous wrote:250k hhi with a mortage of 650k or so should be perfectly manageable unless you have twin 2013 Lexuses or $150k of student loan debt.

it's when you start going to mortgages that are more than 4x income that you start getting iffy.

This sounds nuts to me, though I am starting to think we're the exceptions in this area rather than the rule. We have a HHI over $250K and our house is worth more like $500K and we have two older used cars. No student loan debt and mortgage is nearly paid off. Living below our means has kept us secure and happy, with big retirement and college funds.

-1, the opposite of this. We are secure in the fact that our expensive home is our nestegg which will provide a huge amount of income when we retire. So much safer than keeping money in the stock market. But we live in a very desirable area close in near a metro, so our value will continue to rise.

[Anonymous]

Anonymous wrote:21:38 again. I live in the neighborhood. Lovely, absolutely, until you have school aged kids. Literally nobody goes. You get bused to a school two miles away that is in a completely different community. There are no older kids in the neighborhood aside from a few that went to private. It is sad but true. Everyone is always trying to figure out what other school to send their kid to, or they just up and move. Oh, and, by the way, it was the school where the music teacher recently got arrested for child porn. Parents had warned administrators but nobody listened to them.

If nobody goes, then who is filling the seats in the neighborhood school? Or is the school so under enrolled that Mont Cty is considering closing it?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:250k hhi with a mortage of 650k or so should be perfectly manageable unless you have twin 2013 Lexuses or $150k of student loan debt.

it's when you start going to mortgages that are more than 4x income that you start getting iffy.

This sounds nuts to me, though I am starting to think we're the exceptions in this area rather than the rule. We have a HHI over $250K and our house is worth more like $500K and we have two older used cars. No student loan debt and mortgage is nearly paid off. Living below our means has kept us secure and happy, with big retirement and college funds.

-1, the opposite of this. We are secure in the fact that our expensive home is our nestegg which will provide a huge amount of income when we retire. So much safer than keeping money in the stock market. But we live in a very desirable area close in near a metro, so our value will continue to rise.

Very curious to hear which close-in metro accessible areas can be had for SFH or TH around $500k at present market value.

[Anonymous]

We are in Forest Estates in Silver Spring. Close to Forest Glen metro. Houses are less than 500,000. Elementary school is Flora Singer. Brand new, beautiful school with excellent teachers and a wonderful community.

[Anonymous]

But tell us about the middle and high school for forest estates.

[Anonymous]

No one seems to be on target with this discussion. Yes, I agree for a SFH $750 seems about right. Crazy!

[Anonymous]

Well, Blair and Einstein were so overcrowded they reopened northwood several years ago. And at hat ES level there are between 4-6 kindergarten classes at each school. So...

[Anonymous]

Anonymous wrote:Well, Blair and Einstein were so overcrowded they reopened northwood several years ago. And at hat ES level there are between 4-6 kindergarten classes at each school. So...

So somebody must be attending these schools...right?

[Anonymous]

Anonymous wrote:No one seems to be on target with this discussion. Yes, I agree for a SFH $750 seems about right. Crazy!

You from detroit? Wtf

[Anonymous]

Anonymous wrote:We are in Forest Estates in Silver Spring. Close to Forest Glen metro. Houses are less than 500,000. Elementary school is Flora Singer. Brand new, beautiful school with excellent teachers and a wonderful community.

Might be a fine area but it's a stretch to call that close-in, that is a metro station outside the beltway.

[Anonymous]

Anonymous wrote:

Anonymous wrote:No one seems to be on target with this discussion. Yes, I agree for a SFH $750 seems about right. Crazy!

You from detroit? Wtf

Long time Dc resident. It is hard to look at those tiny 50s homes and say, yes! worth 500K!!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:No one seems to be on target with this discussion. Yes, I agree for a SFH $750 seems about right. Crazy!

You from detroit? Wtf

Long time Dc resident. It is hard to look at those tiny 50s homes and say, yes! worth 500K!!

Lol. We sold DHs parents house in Wheaton for $475 about 2 yrs ago. They bought it in the early 60s. We kept scratching our heads... 2 bed/1 bath for how much? We had a hard time when the realtor priced the house for sale and honestly could not believe the house was selling for so much.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We are in Forest Estates in Silver Spring. Close to Forest Glen metro. Houses are less than 500,000. Elementary school is Flora Singer. Brand new, beautiful school with excellent teachers and a wonderful community.

Might be a fine area but it's a stretch to call that close-in, that is a metro station outside the beltway.

Oh good Christ. While you are technically correct, the Forest Glen Metro Station is ONE block outside the beltway, and the beltway at Georgia Avenue and Connecticut Avenues is closer to downtown DC than the beltway is at any other point in its entire circumference. Forest Glen is a lot fucking "closer-in" than, say, Annandale, even though parts of Annandale are inside the beltway.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We are in Forest Estates in Silver Spring. Close to Forest Glen metro. Houses are less than 500,000. Elementary school is Flora Singer. Brand new, beautiful school with excellent teachers and a wonderful community.

Might be a fine area but it's a stretch to call that close-in, that is a metro station outside the beltway.

I thought this was a response to the metro question.

[Anonymous]

Anonymous wrote:But tell us about the middle and high school for forest estates.

My kids are in gifted magnets so I don't have personal experience