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Real Estate
Reply to "What do you think of this house/price/area (North Potomac)?"
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[quote=Anonymous]I agree with the PP, and will add another factor: Currently, there is a glut of properties on the market in the $1M+ range, and fewer buyers who can afford those properties. Few buyers have money for a down payment on those properties, or can qualify for a jumbo mortgage or a mortgage at the top of the conventional loan limit. There is also more caution, in today's economy, about buying a big house like that far from Metro. Also, that house is very nice and very high end, but it is not at all unique- there are TONS of houses on the market in that price range, that look just like that. The house will be considered "dated" in years to come. Again, all of these factors could be overcome by the right price - a much better price than the other houses like that on the market. (FWIW, I'm not in the market for a house- couldn't afford that one- and would always prefer something smaller, more classic, and more walkable and convenient to Metro.) [/quote]
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