Reply to Won the bid on a 900k house and now I feel sick

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Yeah,it might be tough sledding for a bit, but that 900000 will soon be 1.7 million.  This is Arlington, and [b]prices are never going down again. [/b] So you made a reasonable move.[/quote]

How old are you? Do you really think real estate only ever appreciates?[/quote]

He said never going down again which he is right.  It might not appreciate but in N. Arlington prices are not coming down and will sustain after the prime rate increases which is sometime next year.

My example, bought N. Arlington old house in 2007 $630K nice deep lot but less than 10K Sq Ft.  Developer bought my neighbor house/tore it down (lot size similiar) and just sold for $1.6M.  I have been offered $750K cash for my house even knowing its a tear down.

Bottom line, OP you are good and glad you got a house you can grow into.  
Also, I make $150K which my salary covers $4.3K(Mortgage+PPT) monthly payment.  Obviously, I live below my means and my DW $110K carries one DS daycare bill, groceries, and etc.  I know I have one less kid but you do afford your new home and enjoy it.[/quote]

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