Reply to Tempted to move to great falls from McLean as prices seem to be falling

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Seems like GF is good if you work in Reston or Tysons.

I do expect prices to continue to slide, [b]however, as places need to capture a decent share of high-paid DC workers to maintain price levels as high as GF's historical levels. [/b] It doesn't matter if a handful of GF residents live close enough to catch a bus on Route 7 to a Metro station. For the most part, GF is the epitome of a car-dependent suburb with limited access to public transportation.

The distance to the middle and high schools is a negative, too. Imagine how much more convenient it would be if Langley were near 193 and River Bend Road, rather than near the Arlington County border.  Unfortunately, there is only one high school in FCPS west of the Beltway and north of the Toll Road - Herndon.
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HAHAHAHAHHAAA!!! Have you not heard about all the high tech west of the beltway????[/quote]

It's less like Silicon Valley and more like the back-office operations you find in Jersey City or Schaumburg. Good jobs that typically pay salaries that make Ashburn and Chantilly affordable, not Great Falls at its current prices. That's why there is so much inventory there and why, insofar Great Falls is being repositioned as a residential area for those who work in Tysons or points west, prices are coming down.  [/quote]

The instiutions that created the demand for the 1.5 - 2.0M homes in Great Falls are either gone or shadows of what they were.  Financial Services - Freddie Mac was a huge driver of employment and cash/option compensation.  Bankruptcy wiped out all of that stock and options, and it is not generating the kind of compensation it once did.  Tech bubble companies - AOL, Microstrategy, etc - are either gone, or much more mature and not spreading around cash like they did.  Government contractors have been in a cycle of cuts since sequestration.   There were at one point entire neighborhoods in Great Falls of folks who hit it big at AOL.  15 years on those folks have either downsized or are struggling to stay in their houses.  It seems that if you give a purchasing manager a $2M option windfall, their skills and compensation are still that or a purchasing manager.  So little by little they spend their windfall and then they need to move.[/quote]

[b]Really?  We ARE one of those families. We own our house outright, and the 2 acre buildable lot next to it. So are a lot of my neighbors. Actually, one left to travel the country by mobile home, one moved to Ireland, one pair divorced. None 'spent all their money' or are 'struggling'[/b][/quote]

I smell a McLean Booster.  PP, just ignore him - he thinks he knows everything.  He just sounds like the ass that he is.

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I think you are right :)[/quote]

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