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Reply to "If you bought 2005-2007 and got hit, tell me your story, location and age"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]That’s so surprising to me. We bought a row house in DC for 420k in late 2006. We have done some work on it—probably 150k in upgrades—and it’s worth 900 to one million now. Of course, we haven’t actually tried to sell it! I thought most of the DC area was similar. [/quote] When you look at the price rise from 420 to 900, there are two primary drivers — the broader market and DC gentrification. In this case DC gentrification did the heavy lifting and this example doesn’t really reflect the broader market. [/quote] So many people miss this. The gentrifying areas of DC were undervalued, considering their location. Upper NW DC has also appreciated, but it did not see the same % increase post 2011. [/quote]
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