Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:the market is very intense right now. i have lost out of multiple properties because someone placed an offer 5-10% over asking price.

Which neighborhoods?

Yorktown HS pyramid. It's like the Hunger Games rn.

I think it’s the Hunger Games everywhere. In my target area in a non Yorktown neighborhood in Arlington, listings are getting snatched within days. It’s the weirdest thing because even overpriced listings in south Arlington are getting snatched, while being one of the dullest spring markets in years as far as the number of the listings.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:the market is very intense right now. i have lost out of multiple properties because someone placed an offer 5-10% over asking price.

Which neighborhoods?

Yorktown HS pyramid. It's like the Hunger Games rn.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:the market is very intense right now. i have lost out of multiple properties because someone placed an offer 5-10% over asking price.

Which neighborhoods?

Yorktown HS pyramid. It's like the Hunger Games rn.

Anonymous wrote:the market is very intense right now. i have lost out of multiple properties because someone placed an offer 5-10% over asking price.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Seems like a lot of houses are sitting in South McLean.

Is McLean on the downswing?

idk what you mean by "downsizing". They are still building humongous homes there, new construction is significantly larger than homes being replaced. There is a lot of inventory in every area. I am guessing we are running out of people with deep pockets, so a lot of listings in the millions are sitting. Overpriced listings everywhere. Sometimes you see a house north of 4 mil sell quickly, because it appeals to a certain buyer and hits their checkboxes. And sometimes similar home is sitting just 2 blocks away for many months. Older homes sell fairly quickly because they are usually under 2 mil. Some tastefully maintained older mcMansions quickly sell if under 3 mil on good lots in more premium areas. THs seem to be flying and there is a lot of demand for homes that are family sized but not huge, with garages, convenience to amenities and under 1.3 mil.

New construction is just obscenely priced, and it's not because of land cost only. There is a lot of gouging and builders trying to make extra premium on certain neighborhoods just because of location, not cost of labor/materials/land.

I think PP meant “downswing” as in becoming less desirable.

Regardless, they are definitely building huge new homes in McLean, and many seem to sit. One just went up in my neighborhood, and I’m curious to see if it goes for asking. I’m betting not—builders need to start building less hideous spec homes if they want ~$3 million+, imo.

But the less hideous homes sell for $4+. So at $3+ your budget is something hideous.

Accurate and depressing. Makes me think twice about upgrading next year. At least our starter home has some charm, even if it’s not palatial or worthy of Architectural Digest.

Anonymous wrote:

Anonymous wrote:the market is very intense right now. i have lost out of multiple properties because someone placed an offer 5-10% over asking price.

Which neighborhoods?

Anonymous wrote:Just calm down. By September, all the buyers will be gone, and sanity will be restored once again. You might even score a property below asking price by then. Happens every year. I really never understand why every buyer feels like the world is going to end if they don't buy in the spring. Do the agents feed this hysteria?

Anonymous wrote:the market is very intense right now. i have lost out of multiple properties because someone placed an offer 5-10% over asking price.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Seems like a lot of houses are sitting in South McLean.

Is McLean on the downswing?

idk what you mean by "downsizing". They are still building humongous homes there, new construction is significantly larger than homes being replaced. There is a lot of inventory in every area. I am guessing we are running out of people with deep pockets, so a lot of listings in the millions are sitting. Overpriced listings everywhere. Sometimes you see a house north of 4 mil sell quickly, because it appeals to a certain buyer and hits their checkboxes. And sometimes similar home is sitting just 2 blocks away for many months. Older homes sell fairly quickly because they are usually under 2 mil. Some tastefully maintained older mcMansions quickly sell if under 3 mil on good lots in more premium areas. THs seem to be flying and there is a lot of demand for homes that are family sized but not huge, with garages, convenience to amenities and under 1.3 mil.

New construction is just obscenely priced, and it's not because of land cost only. There is a lot of gouging and builders trying to make extra premium on certain neighborhoods just because of location, not cost of labor/materials/land.

I think PP meant “downswing” as in becoming less desirable.

Regardless, they are definitely building huge new homes in McLean, and many seem to sit. One just went up in my neighborhood, and I’m curious to see if it goes for asking. I’m betting not—builders need to start building less hideous spec homes if they want ~$3 million+, imo.

But the less hideous homes sell for $4+. So at $3+ your budget is something hideous.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Seems like a lot of houses are sitting in South McLean.

Is McLean on the downswing?

idk what you mean by "downsizing". They are still building humongous homes there, new construction is significantly larger than homes being replaced. There is a lot of inventory in every area. I am guessing we are running out of people with deep pockets, so a lot of listings in the millions are sitting. Overpriced listings everywhere. Sometimes you see a house north of 4 mil sell quickly, because it appeals to a certain buyer and hits their checkboxes. And sometimes similar home is sitting just 2 blocks away for many months. Older homes sell fairly quickly because they are usually under 2 mil. Some tastefully maintained older mcMansions quickly sell if under 3 mil on good lots in more premium areas. THs seem to be flying and there is a lot of demand for homes that are family sized but not huge, with garages, convenience to amenities and under 1.3 mil.

New construction is just obscenely priced, and it's not because of land cost only. There is a lot of gouging and builders trying to make extra premium on certain neighborhoods just because of location, not cost of labor/materials/land.

I think PP meant “downswing” as in becoming less desirable.

Regardless, they are definitely building huge new homes in McLean, and many seem to sit. One just went up in my neighborhood, and I’m curious to see if it goes for asking. I’m betting not—builders need to start building less hideous spec homes if they want ~$3 million+, imo.

But the less hideous homes sell for $4+. So at $3+ your budget is something hideous.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Seems like a lot of houses are sitting in South McLean.

Is McLean on the downswing?

idk what you mean by "downsizing". They are still building humongous homes there, new construction is significantly larger than homes being replaced. There is a lot of inventory in every area. I am guessing we are running out of people with deep pockets, so a lot of listings in the millions are sitting. Overpriced listings everywhere. Sometimes you see a house north of 4 mil sell quickly, because it appeals to a certain buyer and hits their checkboxes. And sometimes similar home is sitting just 2 blocks away for many months. Older homes sell fairly quickly because they are usually under 2 mil. Some tastefully maintained older mcMansions quickly sell if under 3 mil on good lots in more premium areas. THs seem to be flying and there is a lot of demand for homes that are family sized but not huge, with garages, convenience to amenities and under 1.3 mil.

New construction is just obscenely priced, and it's not because of land cost only. There is a lot of gouging and builders trying to make extra premium on certain neighborhoods just because of location, not cost of labor/materials/land.

I think PP meant “downswing” as in becoming less desirable.

Regardless, they are definitely building huge new homes in McLean, and many seem to sit. One just went up in my neighborhood, and I’m curious to see if it goes for asking. I’m betting not—builders need to start building less hideous spec homes if they want ~$3 million+, imo.