Reply to Missing Middle middle finger -- seller insists on SFH restriction

Forum Index » Real Estate

Reply to "Missing Middle middle finger -- seller insists on SFH restriction"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Love to see it. “Missing middle” serves to enrich developers and nothing more. Hopefully people have begun to recognize that. [/quote]

[b]Totally agree and I can't believe how much my lot value has gone up since MM. [/b]It's a boomer grab as much as for developers. [/quote]

It’s almost painful having a discussion with proponents of MM who don’t understand how the economy works. Your real estate valuation didn’t go up because of MM. It would be too early for that as MM is untested and developers have no idea if it will work. You wouldn’t see an impact yet. And also, relative to other DMV areas (all without MM), it didn’t really go up that much.

In % change in average median sold price from 2023 to 2024
Oakton was up 31%. Then came Annandale, Fairfax Station, Vienna, Fairfax, Burke, Fairfax County, Great Falls, Lorton, Reston, Alexandria, Centreville.

Arlington clocked in after all of these towns at 7.8%. If I were stupid, I would point to this and say “look Arlington is less desirable than those 12 towns because of MM!” But that’s not how the economy works.

https://www.foxessellfaster.com/blog/washington-dc-metro-real-estate-market-april-2024-insights-and-analysis/

[/quote]

Equally painful to discuss real estate values with people who don’t understand a bubble. Any asset that goes up 8% in one year is an amazing investment . Those that go up 30% or more is an absurdity that may well come down. That, or it was undervalued to begin with, and this is just a reversion to the mean or where it should’ve been in the first place. Neither rate should continue. Except in Arlington, we had a policy change that makes these little bitty lots worth a whole Lotta money.[/quote]

Oh, I understand what a bubble is and I understand real estate values as well. I’m 50 and I own 6 million dollars worth of real estate. I’ve seen bubbles and I’ve bought a few houses. I guess I’ll have to state this again - no one knows if MM is going to work. Your lot is NOT worth more money because of it. It may be in the future. But it’s 💯 absurd to say it’s worth more today. And as I said before, the more MM the less desirable Arlington becomes for SFH buyers. [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics