Reply to What would you pay for your dream charter or DCPS?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Chevy Chase $925k, renovated &gt;1900 square feet
http://frankly.com/DC8235088

$920k, renovated &gt;1900 sq feet
http://frankly.com/DC8274630

$885k, renovated &gt;1900 square feet
http://frankly.com/DC8334488

Bloomingdale $952k, renovated 1900 square feet 
http://frankly.com/DC8258317

$905K, renovated, 1700 sq feet
http://frankly.com/DC8521627[/quote]

None of your CC examples are walkable to the metro (almost 2 miles). Your BD examples are (less than 1 mile). That is a very important difference, and so not "all other things are roughly equal". Besides school quality, metro proximity is a major factor in home prices.[/quote]

I really don't understand why we even need to argue about this. Everyone familiar with the DC market knows that schools and transit access drive home prices. Obviously they aren't the only factors, but they are critical in deciding the value of a home. Nobody said houses in areas with bad schools can't be expensive for other reasons.[/quote]

I think what some people are trying to drive is that housing supply is so low in the city, that those things are no longer the only driving factors. Many more people are buying away from transit (which is actually too expensive for my family to use) and despite poor school choices. The last 2 years in DC real estate (boom of Petworth, H Street, Brookland and the like) have been very telling. It's actually a little sad when you think about it. Many middle income families are squeezed out of the market even if they are willing to buy without the perks for schools and metro access.[/quote]

I agree with you. Tight supply drives up prices everywhere. That doesn't mean, however, that schools and transit aren't factors that make for higher prices ALL OTHER THINGS BEING EQUAL. That is all I was trying to say, not that there aren't reasons why EOTP areas are desirable even without good schools.[/quote]

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