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[quote=Anonymous]No specific suggestions on neighborhood that haven't already been said, but one suggestion on finances.

If you are really committed to buying this year, and $1.1m won't get you what you want, consider doing a "piggyback loan" setup where you have one conventional mortgage at 75-80% LTV and a HELOC at 15-20% LTV. This will allow you to go a ways above $1.1m without having a 15-20% downpayment yet.

You'll want to refinance out of this within a couple of years, because your interest rate on the HELOC will be a bit higher (and variable). But, with your income this will be no problem. Alternatively, with your income you could just pay the HELOC off over a couple of years on a similar schedule to which you were planning to save up to 20%. In the end, this does cost you a bit more in interest, but it's a *lot* cheaper than selling a house and moving to another one if it allows you to buy a house that you will stay in for longer.

You'll need a good mortgage broker to arrange this, sucks it usually involves working with two different banks for the primary and secondary mortgages. This is what we did to buy near H Street a few years back (our income is much lower than yours), and it has worked out extremely well. We are long since refinanced to a conventional loan with a very low interest rate.
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