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Real Estate
Reply to "What is truly going on with the DC area real estate market, please explain? "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]There is also this happening in suburbs. People can't afford Potomac, MD mansions so, they aren't buying them. Hence those prices are...well I have no idea now, but 2 years ago they were not increasing and were actually going down. But, in areas where houses are 500K, 600K prices and the demand increasing. Lots more people can afford 650K but not 1M. And this started happening in the summer. My neighborhood could not sell his house that needed updating for 9 months. 2500 sqft. Sold for 530K which was over 80K under the first price. [b]Fast forward a smaller, worse roadhouse sold for 45K over the asking price, for 650K.[/b] Why? Because people can afford 650 instead of 550 easier than 1M.[/quote] Maybe because the previous owner was Patrick Swayze?[/quote] Actually so funny! Kind of proud of myself for that mistake! DH is a major Roadhouse and Swayze nut case! I tell him Swayze was a ballerina....[/quote]
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