Reply to Lyon Village - please explain

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]How are the houses all 2-3 mil in Lyon Village??  You can get something really nice on Capitol Hill in DC for 1.5 mil with more character and a nicer neighborhood.  And with the $1mil you save, send your kid to private MS/HS.  [/quote]

You’re talking about people who want completely different things. Not a good comparison. [/quote]

I'm not so sure about that.  Clearly people paying $3mil in Lyon Village are doing it for [b]walkability, proximity to metro, urban amenities[/b].  For those with kids, schools (that admittedly provide HS/MS options that the Hill does not.) I'm not sure how much different crime can be compared to the area close-in on the Hill near the Capitol.  The comparison to the Hill is not a specific argument for the Hill - I'm just struggling to understand the Lyon Village prices that seem so inflated for how frankly dumpy it looks on Street View.  Is the extra $1mil because you have a detatched home and a yard, plus all the same walkability? [/quote]

It's for all of this PLUS a quiet, suburban feel. It's more like the suburban areas of DC than Capitol Hill. AU Park, Cleveland Park, etc.

Walkable to some good stuff, but it's not all in your backyard.

[/quote]

yet … you can get a gorgeous AU park house for 1.5 mil?[/quote]

AU Park is not as close to the metro and retail. You get a nice suburban feel but you're still dealing with DC services and disfunction. Also, it's much further from the downtown business core of DC and the commute to other major office areas (Tyson's, "National Landing", etc) is worse as well.

The houses that are actually selling in Lyon Village aren't going for that much more than $1.5 million. The $2-$3 million ones sit. [/quote]

There are also fewer buyers in the 2-3M price range.  Lower price points get snapped up because more people are competing for them.  Many homes are selling in Lyon Village off-market, by the way.  And they are going for 3M-ish.  What you see on Zillow is far from the full picture.  I imagine that’s the case for many desirable neighborhoods.  [/quote]

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