OP, are you absolutely set on the Woodson pyramid or would you consider other schools in that area? Lake Braddock, West Springfield and Robinson are also very good schools with reasonably close proximity to the Beltway (I can get from the Lake Braddock area to the Beltway in 10 minutes or less). I keep an eye on listings in the 450-600 range in this area and frequently see decent quality 3-4 BR homes come on the market in this price range, even in the Woodson pyramid. The housing stock is older so you may need to compromise on something that needs some work.

Additionally, you may want to reach out to the real estate agents who do a lot of business in your target area and let them know what you're looking for. Many houses around here sell before even hitting the market.

There are no first time home buyers. This is just a bunch of people buying and selling among themselves and patting themselves on the back that they are next real estate tycoon.

http://m.washingtonpost.com/business/economy/student-debt-may-hurt-housing-recovery-by-hampering-first-time-buyers/2014/02/17/d90c7c1e-94bf-11e3-83b9-1f024193bb84_story.html

Anonymous wrote:Consider yourself lucky. My parents sold their house in a Woodson pyramid a little before the bubble and the value of it went down hard and didn't really recover. They bought in McLean and the value didn't fall at all.

I would look to somewhere closer in that has a lot of development or new housing builds. The woodson area has good schools but is stuck in some weird time warp with no new houses being developed or anything new happening.

Are you still monitoring the house and the comps? How do you know the value didn't recover? It would make your parents' house about the only house in NOVA that hasn't been a part of the recovery.

Nobody's house is worth what it was at the top of the market anymore....

Anonymous wrote:Consider yourself lucky. My parents sold their house in a Woodson pyramid a little before the bubble and the value of it went down hard and didn't really recover. They bought in McLean and the value didn't fall at all.

I would look to somewhere closer in that has a lot of development or new housing builds. The woodson area has good schools but is stuck in some weird time warp with no new houses being developed or anything new happening.

did you read her post? she is almost priced
out of Annandale; she can't afford closer
in. idiot.

The only bubbly is the champagne after you win the house

Anonymous wrote:

Anonymous wrote:I wrote "bubbly" to lighten the conversation, but oh well.

I would never waive contingencies or be house poor. I know what we can comfortably afford, and I will not put my family at risk by increasing my budget randomly and waiving contingencies. If that means we can't buy right now, than that means we can't buy right now. We will continue to rent. It's not that big of a deal for us currently, but would obviously like to eventally be able to buy a home.

If the house is right, you may want to get an inspection before bids are due so you can waive the inspection at least if it is a house you really want and you think you can make a competitive offer.

Yeah spent $500 a pop just to make an offer. No problems there, because as alway, having more more money is the answer on DCUM.

Consider yourself lucky. My parents sold their house in a Woodson pyramid a little before the bubble and the value of it went down hard and didn't really recover. They bought in McLean and the value didn't fall at all.

I would look to somewhere closer in that has a lot of development or new housing builds. The woodson area has good schools but is stuck in some weird time warp with no new houses being developed or anything new happening.

Anonymous wrote:Just b.c you offered what they asked for and did not get it does not define a bubble.

What were comps?

What did you agent recommend?

Our agent recommended we borrow as much as possible and offer above asking with an escalation clause going even further up, to do this the day house went on market, and to waive everything, closing in 30.

Anonymous wrote:I wrote "bubbly" to lighten the conversation, but oh well.

I would never waive contingencies or be house poor. I know what we can comfortably afford, and I will not put my family at risk by increasing my budget randomly and waiving contingencies. If that means we can't buy right now, than that means we can't buy right now. We will continue to rent. It's not that big of a deal for us currently, but would obviously like to eventally be able to buy a home.

If the house is right, you may want to get an inspection before bids are due so you can waive the inspection at least if it is a house you really want and you think you can make a competitive offer.

Unfortunately, inventory is just really low right now. It's not that unusual to get outbid if you bid asking with no escalations, unfortunately. Keep at it - hopefully there will be more homes available soon. (and be glad you didn't get drawn into a bidding war where you felt pressured to pay more than you thought a house was worth - you'd have regrets.)

If you can be flexible on the high school pyramid, the Camelot and Sleepy Hollow elementary neighborhoods are nice, with good elementary schools. (Middle and high schools are lower ranked than Woodson area though)

Or..you could look in that neighborhood around Timber Lane elementary. The ES is Title 1 (I think) but the middle and high schools are really good-Mclean).

If you use the franklymls website, you can search for all the listings in certain school zones, like hs=woodson or es=timber lane, etc. And see what has sold in the last year for what price.

Good luck-we were in that price range a few years ago and I thought the options sucked then.

Try an escalation clause next time. I'm surprised your realtor didn't suggest it if there were multiple offers.

Have you checked out pimmit hills

Anonymous wrote:We've been looking at the Burke and west Springfield areas, and have not ruled them out, but would prefer those other target areas if we can get them. I guess it all just depends on what comes on the market. This process has just been very frustrating. We've been looking for over a year, and last years crazy market really threw us for a loop (houses flew off the market at above asking with bidding wars and no contingencies) so I guess it'll be the same this spring/summer season. Sigh...it's exhausting.

OP You are a year too late for Woodson HS district in that price range and possibly Burke. You should focus on West Springfield. Try Orange Hunt -- a decent commute downtown, two elementary school within the community and feeds to decent middle and high school.

OP - Don't look at buying until August-March. anytime before or after and you are hosed.

not a bubble. I've lived in DC my whole life, have moved away and come back, and each time we come back we are literally unable to afford a house in the neighborhood we once owned in. This has happened to us 3 times already....now we are just renting and loving it. We won't be in DC forever (hopefully only a few more years), so renting is best for us.