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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Why do you need a middle?

Most rich towns often have rich homes and a poorer section where the maids, landscapers, handiman live.

I mean does Beverly Hills, Palm Beach and Aspen concerned about the middle?

No [/quote]

Don't worry, this will actually help get rid of the middle class,[b] as old-time, middle and lower-class homeowners sell out to developers.[/b] And then upper-class people move into the new duplex, townhouses, and multiplexes. It's a developer's dream.[/quote]

[b]This has been happening for years.[/b] Do you have any proof that MMH policy will speed up the sale of older homes to developers? [/quote]

It already happens a lot. [/quote]

Arlington agent here.  [b]Every older home in poor condition generally sells to a builder.[/b]  Now that they can diversify from building single family homes to multi family housing that they can quickly sell to investors, [b]it will likely accelerate the pace[/b] because they will not be concerned about carrying and marketing costs.

An agent asked for  advice this morning on which builders to call to sell a tear down on an R-5 lot.  I told her to call the three builders who have applied for MM permits.

Permitting has been in place for less than a month, so you may have to wait for a year to collect data on tear downs used for single family versus multi family. [/quote]

If every older home is already sold to a builder how could it accelerate? Will they aggressively cold call people who live in older homes? 
[/quote]

It will happen naturally.   
There are neighborhoods in Arlington that would not support building a $2.3 M house so the lots were cheaper.   People who buy a $1.3 M townhouse or rent a 2 bed 2 bath in a 6 plex are not as discerning about the neighborhood, so those lots will become desirable and increase in value.

NV is building $900plus townhouses in one of the slummiest parts of Arlington off Carlin Springs Road.  The area is filled with dumpy semi detached houses and old red brick garden apartments.   Once those townhouses sell, they will improve the area enough to attract builders who will replace the current semi detached housing with the new version.

Same thing will happen when MM goes into the few lower cost single family areas [/quote]

Here's a $2.3M house in Lyon Park on a lot that probably would have been better off as two $1.2M duplexes. Been on the market for a long time (more than the 23 days listed in redfin). I walk past it all the time. Close to the park, walkable to metro, but the lot really isn't big enough for this house. Doesn't even have a real driveway. People who can spend that much have much better options.
https://www.redfin.com/VA/Arlington/722-N-Highland-St-22201/home/11256176
[/quote]

Wow. That will sit for a long time. They probably don't want to throw any more money at it but they should have done something with the side yard - fence, landscaping. [/quote]

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