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

Forum Index » Real Estate

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

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][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.
[/quote]

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]

Yes, because everyone in this situation is as you dictate - not reality, at all. Maybe they invested their "windfall" (much more than you think, BTW), and maybe they have family money, inheritances (plural)  or other investments you know nothing about.

But since you know everyone and every single person's situation, I suppose reality is not a possibility, in your tiny mind.   You think so, so it must be true. :roll: [/quote]

You must be correct - the falling property values are just a big conspiracy.  There cannot be market forces at play.  [/quote]

You have quite an imagination!  [/quote]

The decline in Great Falls prices is well documented.

http://www.zillow.com/great-falls-va/home-values/[/quote]

That's interesting - down 4.2%.  But if you plug in close in neighborhoods like McLean or Bethesda, they are only up like 1%.  I would have thought it would be more from all the bidding wars documented on DCUM.  Or are the bidding wars over the just the few 'perfect' houses?[/quote]

Don't point this out.

It doesn't fit their narrative that everyone is moving inside the beltway to be closer to DC so that their kids can hop on the metro to visit the museums on the weekends.

[/quote]

From the April 2016 Washingtonian:  "The traffic—and general trend of moving into city centers—is a culprit for the [Great Falls] Zip’s median price drop of nearly 5 percent." [/quote]

Well, that settles that.   The Washingtonian.   That's real journalism.  Not some fluff BS

As to the PP who said she was 'suspending her search in GF" - Troll score 0/10

[/quote]

We were searching in Great Falls and have stopped. Not sure why that is a troll score? We are seriously concerned with the market and don't think it is a good time to buy a home there.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics