Anonymous
04/27/2024 00:39
Subject: Is crime affect DC's real estate market?
Anonymous wrote:Anonymous wrote:Anonymous wrote:I dont know if it's crime or just the reality that the youth bulge has declined, and people are starting families. interest rates are the same everywhere.
NOVA is one of the hottest seller markets in the country right now at 20 day DOM. DC is 47 days.
If you want to stay updated with the local market dynamics, I find these reports best. I've been reading them going back fifteen years.
The DOM for DC comapred to NoVA suggests it could be crime affecting hte DC market, right?
No, only terminally online helicopter parents think crime is anything to worry about. The real reason is because DC has way more condos for sale which take far longer to sell than detached houses.
THANK YOU now o don’t have to compose my own post.
Anonymous
04/26/2024 22:29
Subject: Is crime affect DC's real estate market?
Anonymous wrote:Of course. Cross Georgia Ave and it’s an entirely different world.
Of course. Once you cross Georgia Ave and enter into the dilapidated ghetto that is Takoma Park, your life is basically forfeit.
Anonymous
04/26/2024 21:15
Subject: Is crime affect DC's real estate market?
Anonymous wrote:Anonymous wrote:Real estate agents are ALWAYS telling people "it's a good time to buy" "it's a good time to sell". That's how they make money!
To be fair they’ve been right for a very long time.
Not really -- they were wrong from about 2007 to 2019, when prices were basically flat. So wrong for 12 years, then right for 5. I guess you could go down slightly on the 12 years, because if you bought a couple years before, you'd be doing well also. But really, real estate barely beats inflation in the past 20 years in the DMV. So you'd really be better off NOT following their advice more than you would be following it.
At the end of the day, buy or sell when it's the right time for you, but don't follow advice from people who stand to gain from doing as many sales transactions as possible.
Anonymous
04/26/2024 17:14
Subject: Is crime affect DC's real estate market?
Yes. But there are people who own in dc and still don’t want to admit it yet.
Anonymous
04/26/2024 16:41
Subject: Is crime affect DC's real estate market?
Anonymous wrote:Anonymous wrote:Anonymous wrote:I got this from our realtor who we used many years ago:
https://vimeo.com/938357764
Notice he says MoCo and PG are a seller's market with only 1.5 months of inventory, and for DC it's different -- only areas like AU Park and Cleveland Park are similar, and the rest is a buyer's market with 5 months of inventory.
Could the crime situation in DC be affecting this? Just seems odd that these areas are just a few miles apart, but so much difference in the market dynamics.
Yes.
DP, well, yes and no. I think there's also a post-pandemic impact where people are still looking for more space as they settle into more hybrid work schedules that didn't used to exist prior to the pandemic. People want office space, if two spouses are working from home, it's tough with two people on meetings at the same time. So larger homes, SFHs, which are more abundant in AU Park, Cleveland park, are staying appealing, smaller rowhomes are less appealing now.
But also, yes, crime has been exhausting. We've dealt with both higher crime in our neck of the woods, as well as feeling squeezed due to lacking office space.
On Capitol Hill, the rowhomes closest to the Capitol building are still selling like hotcakes. Once you get past 10-12 blocks East of the Capitol, rowhouses are sitting. Crime increases the farther out you go (around 17th and Independence SE particularly has had a horrible spate of shootings in the past 6 months or so).
Thank you so much for your bold action on crime, Charles Allen!
Anonymous
04/26/2024 16:38
Subject: Is crime affect DC's real estate market?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:I dont know if it's crime or just the reality that the youth bulge has declined, and people are starting families. interest rates are the same everywhere.
NOVA is one of the hottest seller markets in the country right now at 20 day DOM. DC is 47 days.
If you want to stay updated with the local market dynamics, I find these reports best. I've been reading them going back fifteen years.
The DOM for DC comapred to NoVA suggests it could be crime affecting hte DC market, right?
No, only terminally online helicopter parents think crime is anything to worry about. The real reason is because DC has way more condos for sale which take far longer to sell than detached houses.
It's not just condos, it's rowhouses that are sitting if you are paying attention. I've watched real estate in my neck of Hill East and have never seen rowhouses sit for so long. Currently, my specific neighborhood has more houses than I've ever seen simultaneously for sale in the 15 years I've lived there and have watched every real estate listing, and they are sitting for weeks and sometimes months.
Yes, we're not at a value inversion yet between the close-in suburbs and DC, but these rowhouses will sit until a significant inversion happens. The value proposition is just not there at all. Why risk the crime when you can still buy a TH in ARL or ALX for the same or less and WFH takes away the commute incentive? So the TH market in close-in NOVA is still very hot with bidding wars, and these rowhouses sit.
Anonymous
04/26/2024 15:46
Subject: Is crime affect DC's real estate market?
Anonymous wrote:Anonymous wrote:Anonymous wrote:I dont know if it's crime or just the reality that the youth bulge has declined, and people are starting families. interest rates are the same everywhere.
NOVA is one of the hottest seller markets in the country right now at 20 day DOM. DC is 47 days.
If you want to stay updated with the local market dynamics, I find these reports best. I've been reading them going back fifteen years.
The DOM for DC comapred to NoVA suggests it could be crime affecting hte DC market, right?
No, only terminally online helicopter parents think crime is anything to worry about. The real reason is because DC has way more condos for sale which take far longer to sell than detached houses.
Condos are a disaster. Yes. But the detached home market is also far looser than the suburbs.
Anonymous
04/26/2024 15:46
Subject: Is crime affect DC's real estate market?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:I dont know if it's crime or just the reality that the youth bulge has declined, and people are starting families. interest rates are the same everywhere.
NOVA is one of the hottest seller markets in the country right now at 20 day DOM. DC is 47 days.
If you want to stay updated with the local market dynamics, I find these reports best. I've been reading them going back fifteen years.
The DOM for DC comapred to NoVA suggests it could be crime affecting hte DC market, right?
No, only terminally online helicopter parents think crime is anything to worry about. The real reason is because DC has way more condos for sale which take far longer to sell than detached houses.
It's not just condos, it's rowhouses that are sitting if you are paying attention. I've watched real estate in my neck of Hill East and have never seen rowhouses sit for so long. Currently, my specific neighborhood has more houses than I've ever seen simultaneously for sale in the 15 years I've lived there and have watched every real estate listing, and they are sitting for weeks and sometimes months.
DP to add, live in a higher crime area and yes it impacted us moving. I guess people are helicopter parents if they don't like listening to gunshots while sitting in their living room or have people murdered within a block of their house? Hill East has seen a really horrible slate of drive by shootings this year with people literally having to drop to the ground with bullets flying.
Anonymous
04/26/2024 15:35
Subject: Is crime affect DC's real estate market?
Anonymous wrote:Anonymous wrote:Anonymous wrote:I dont know if it's crime or just the reality that the youth bulge has declined, and people are starting families. interest rates are the same everywhere.
NOVA is one of the hottest seller markets in the country right now at 20 day DOM. DC is 47 days.
If you want to stay updated with the local market dynamics, I find these reports best. I've been reading them going back fifteen years.
The DOM for DC comapred to NoVA suggests it could be crime affecting hte DC market, right?
No, only terminally online helicopter parents think crime is anything to worry about. The real reason is because DC has way more condos for sale which take far longer to sell than detached houses.
It's not just condos, it's rowhouses that are sitting if you are paying attention. I've watched real estate in my neck of Hill East and have never seen rowhouses sit for so long. Currently, my specific neighborhood has more houses than I've ever seen simultaneously for sale in the 15 years I've lived there and have watched every real estate listing, and they are sitting for weeks and sometimes months.
Anonymous
04/26/2024 15:24
Subject: Is crime affect DC's real estate market?
Some parts of DC have really lost their appeal post pandemic. Vagrants walking around muttering and yelling at people. Some streets/commercial areas feel deserted. Some areas are dirty.
Prime DC neighborhoods will always keep their value. But areas that were transitional/marginal and slipped back, maybe not.
Prime DC neighborhoods will always keep their value. But areas that were transitional/marginal and slipped back, maybe not.
Anonymous
04/26/2024 15:04
Subject: Is crime affect DC's real estate market?
Anonymous wrote:Anonymous wrote:I dont know if it's crime or just the reality that the youth bulge has declined, and people are starting families. interest rates are the same everywhere.
NOVA is one of the hottest seller markets in the country right now at 20 day DOM. DC is 47 days.
If you want to stay updated with the local market dynamics, I find these reports best. I've been reading them going back fifteen years.
The DOM for DC comapred to NoVA suggests it could be crime affecting hte DC market, right?
No, only terminally online helicopter parents think crime is anything to worry about. The real reason is because DC has way more condos for sale which take far longer to sell than detached houses.
Anonymous
04/26/2024 13:16
Subject: Is crime affect DC's real estate market?
Anonymous wrote:Anonymous wrote:I dont know if it's crime or just the reality that the youth bulge has declined, and people are starting families. interest rates are the same everywhere.
NOVA is one of the hottest seller markets in the country right now at 20 day DOM. DC is 47 days.
If you want to stay updated with the local market dynamics, I find these reports best. I've been reading them going back fifteen years.
The DOM for DC comapred to NoVA suggests it could be crime affecting hte DC market, right?
Crime is likely only an impact in certain neighborhoods. DC's market is doing similarly to last year.
But DC also has lots of horrible condos which nobody wants. And that market is saturated and doing the worst.
SFHs are doing better but still lag the suburbs with inventory in DC increasing and in the suburbs decreasing YoY.
Anonymous
04/26/2024 13:14
Subject: Is crime affect DC's real estate market?
Anonymous wrote:Anonymous wrote:I dont know if it's crime or just the reality that the youth bulge has declined, and people are starting families. interest rates are the same everywhere.
NOVA is one of the hottest seller markets in the country right now at 20 day DOM. DC is 47 days.
If you want to stay updated with the local market dynamics, I find these reports best. I've been reading them going back fifteen years.
The DOM for DC comapred to NoVA suggests it could be crime affecting hte DC market, right?
The parts of DC where homes are still selling tend to have larger size homes, such as closer in Capitol Hill (larger, wider rowhouses) or parts of NW that have more unattached homes vs. farther out Hill East, etc.
For instance, per Redfin Market analysis, Brookland homes are still selling and are selling faster than a year ago. Although Brookland has higher crime vs other parts of DC, it also has larger SFHs which are more desirable with telework.
WFH is driving people to want more space.
Anonymous
04/26/2024 13:04
Subject: Is crime affect DC's real estate market?
Anonymous wrote:I dont know if it's crime or just the reality that the youth bulge has declined, and people are starting families. interest rates are the same everywhere.
NOVA is one of the hottest seller markets in the country right now at 20 day DOM. DC is 47 days.
If you want to stay updated with the local market dynamics, I find these reports best. I've been reading them going back fifteen years.
The DOM for DC comapred to NoVA suggests it could be crime affecting hte DC market, right?
Anonymous
04/26/2024 13:00
Subject: Is crime affect DC's real estate market?
Idk because anything I like there, goes fast and for higher than I would pay.