Reply to s/o How far will prices drop in MoCO?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I clicked on this thread because the title struck me as ridiculous.  I've been trying to purchase a home in Bethesda and keep getting outbid (even though I offer full or above asking).  I'm trying to find something under $850K.  I assure you, the market is still strong at that price point![/quote]

Because there are few homes in your price range, but go over 1.2 and the houses sit.  Those are the taxpayers the County is losing and not gaining, at the same time.  As those 1.2+ houses drop their prices just to sale them, the taxes will become less and the revenue in the County will continue to decline.  No one with a brain is going to want to invest in a County that has borrowed against the pension contributions of its' employees, not once, but twice.  I cannot even believe Erlich agreed to take that money, totally shocked.  Anyway, the bond rating of a County says everything and MoCo is in the process of being downgraded.  Most will not understand this, but I assure you those capable of investing 1.2+ in a house, get it, and no, they will not live in MoCo.  [/quote]

Sorry to bust your anti MoCo agenda but houses sit here in Arlington at 1.2 as well. [/quote]
NP. Really? Do you have links/comps you could post as an example? We listed our house at $1.2 million and accepted an offer for $1.235 a few days later. [/quote]

https://www.redfin.com/VA/Arlington/2105-N-Emerson-St-22207/home/11236165 29 days
https://www.redfin.com/VA/Arlington/6419-28th-St-N-22207/home/11225325 44 days
https://www.redfin.com/VA/Arlington/2513-23rd-Rd-N-22207/home/11231645 50 days
https://www.redfin.com/VA/Arlington/700-N-Harrison-St-22205/home/11242617 58 days
https://www.redfin.com/VA/Arlington/5326-5th-St-N-22203/home/11243049 84 days

I know next to nothing about Arlington so these are probably all in less desirable areas and overpriced.  Which is probably what's going on with the homes sitting in MoCo as well.
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