Reply to Lake Barcroft - Annandale Next big thing?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]My husband and I bought a starter home very close to Lake Barcroft more than 20 years ago, ParkLawn/Ellen Glasgow/Jeb Stuart pyramid.  It has appreciated very little over those two decades.  We moved to a larger house after having kids in a better school district, and rent it out.  It was not a good investment.  [/quote]

You are either a troll or have let this house go to seed.  The average older home in the neighborhood near Parklawn and Glasgow has more than doubled in value over the past 15 years.   [/quote]

Different poster here.  I don't think pp is a troll.  I bought 14 years ago close to Lake Barcroft and there hasn't been much appreciation in my neighborhood.   I think it depends on where the pp is talking about.  Prior to the crash houses in my neighborhood were going in the 600,000-700,000 range.  After the crash, many houses were under water.  Now they are coming back up and are going for between 600,000-650,000, so if you bought at the peak you would be even or very little appreciation.[/quote]

There are houses all over the region that aren't back to their 2007 values. If you bought in LB 15-20 years ago, however, you are still sitting on some major appreciation.  Pulling up some houses on the LB street posted by OP and most have more than doubled in value since 2000.[/quote]

Some of the increase has to do with renovations that invested a lot of additional money into the properties.  The price of properties in this area that aren't renovated have been pretty stagnant over the past few years, due in large part to the downward spiral of the schools.  Given the demographics of the schools, I don't see that improving.  In 2000, people were still optimistic about the schools, not anymore.  Look at Sleepy Hollow ES over that time, it went from a good school to one of the lowest performing schools in the county.  I lived in the area and considered buying in Lake  Barcroft when we needed more space after having kids, but decided against it because of the schools.  I'm sure OP has decided by now, but I would not buy if I had kids and couldn't afford private through high school.  If I had no kids or could afford private, it's a lovely enclave in a not so great area.[/quote]

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