Anonymous wrote:
Things have gotten ridiculously pricey in Arlington where we’re searching. We’re looking for a small condo for our just out of college kid up to 450K. We want a two bed so they can rent one room out if they want. It’s not looking too good so far
Out of curiosity with how sluggish condo sales/values have been, what makes you want to buy your kid a condo instead of pay their rent or investing that money in an index fund for their benefit?
I ask because in most Arlington condo buildings right now the monthly PITI for buying is quite a bit more expensive than renting an identical unit in the building, sometimes more than $1,000 difference…plus exposure to rising HOA fees and special assessments…plus the fact that condo values are largely flat lately…plus rents are fairly stable lately…
Are you assuming significant appreciation?
Anonymous wrote:Things have gotten ridiculously pricey in Arlington where we’re searching. We’re looking for a small condo for our just out of college kid up to 450K. We want a two bed so they can rent one room out if they want. It’s not looking too good so far
Anonymous wrote:Anonymous wrote:Yes, tons of listing today and priced much higher at the beach anyway!
Which beach? All I see if reductions?
Anonymous wrote:I don't think so, unless you have a very desirable house. A lot of the military families will be priced out and living on post or in post-allotted housing or rent from other military families that own houses, which is going to slow sales.[/quote]
What specific area of the DMV does any of this relate? Up here in CC MD we have literally zero military families.
Anonymous wrote:Yes, tons of listing today and priced much higher at the beach anyway!
Anonymous wrote:No spring market. No one will ever sell their house again. Buy anything you can find now.