Anonymous wrote:The problem is that while most owners and sellers do not worry about Redfin estimate, this is still something that buyers look at and consider. It is like saying, hey, don't look at the car's MSRP.. it means nothing.. yet.. it is a starting point for everybody who is car shopping. So is it.. isn't it. is it?... is it? It is.

Anonymous wrote:Redfin shows our estimate price to be $15K BELOW what we paid in 2017. However, we just refinanced and the bank appraised us at $85K higher than our purchase price.

Don't believe the Redfin algorithms. It doesn't account for condition of the home or amenities - tear down vs. newly remodeled by the last owner, finished vs. unfinished basement, degree of flipper activity in the area, etc. It just looks at the tax records for square footage, # of beds and baths, and recent sales prices.

Anonymous wrote:

Anonymous wrote:Appreciation DOES NOT equal nice place to live.
NoVa, even with its appreciation, is not a nice place to live.

Can you MoCo trolls please go away?

Anonymous wrote:Appreciation DOES NOT equal nice place to live.
NoVa, even with its appreciation, is not a nice place to live.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Fact is that if you have a budget of $400,000 to $900,000 (middle class and upper middle class by area standards), you get much more bang for your buck in MoCo than in NoVA. You can get a SFH half a mile from DC, 1 1/2 miles from Metro and all the shopping in Bethesda and in a 8/10 school district for $899,000 in Chevy Chase. There is nothing this nice, this close to DC and Metro, for this kind of price in VA.

There is always a reason why something is cheaper. MOCO is simply not as desirable as NOVA so it is cheaper. If you are getting more "bang for your buck" you are giving up on future appreciation. You are also taking a big risk on those 8/10 schools which are right on the border of some of the lowest performing schools in the DMV.

One reason why the homes in VA are more expensive is that there were more tear downs in close-in VA than close-in MoCo. Homes in places like Chevy Chase and Bethesda were always expensive, whereas 1,200 sq ft bungalows in Crystal City and Clarendon could be bought for around $100,000 in the 90s (when you couldn't get a home in Chevy Chase for less than $500,000). When you tear everything down and have no regulations on what you can build, you get a glut of $1.5M craftsman McMansions, which makes prices go up. NoVA has been playing catch-up with places like Chevy Chase and Bethesda since the 80s.

"Middle class" people can't afford $1.5M homes, and are priced out of Arlington and McLean. The only places for "middle class" people in VA are either in horrible 2/10 school districts or 1 1/4+ commutes to DC in rush hour. You can still get walkable places with good schools and a much less stressful commute to DC in MD for $850,000 to $900,000 and less. $750,000 in Arlington in a 6/10 school district will get you this:

https://www.redfin.com/VA/Arlington/2411-John-Marshall-Dr-22207/home/11225837

I live in McLean (Chesterbrook/Longfellow/McLean) and our house is worth ~$850-$900k. Four houses have sold for that range in our neighborhood over the past year. None have been torn down. You dont need a budget of $1.5M to buy here.

Anonymous wrote:

Anonymous wrote:

Fact is that if you have a budget of $400,000 to $900,000 (middle class and upper middle class by area standards), you get much more bang for your buck in MoCo than in NoVA. You can get a SFH half a mile from DC, 1 1/2 miles from Metro and all the shopping in Bethesda and in a 8/10 school district for $899,000 in Chevy Chase. There is nothing this nice, this close to DC and Metro, for this kind of price in VA.

There is always a reason why something is cheaper. MOCO is simply not as desirable as NOVA so it is cheaper. If you are getting more "bang for your buck" you are giving up on future appreciation. You are also taking a big risk on those 8/10 schools which are right on the border of some of the lowest performing schools in the DMV.

One reason why the homes in VA are more expensive is that there were more tear downs in close-in VA than close-in MoCo. Homes in places like Chevy Chase and Bethesda were always expensive, whereas 1,200 sq ft bungalows in Crystal City and Clarendon could be bought for around $100,000 in the 90s (when you couldn't get a home in Chevy Chase for less than $500,000). When you tear everything down and have no regulations on what you can build, you get a glut of $1.5M craftsman McMansions, which makes prices go up. NoVA has been playing catch-up with places like Chevy Chase and Bethesda since the 80s.

"Middle class" people can't afford $1.5M homes, and are priced out of Arlington and McLean. The only places for "middle class" people in VA are either in horrible 2/10 school districts or 1 1/4+ commutes to DC in rush hour. You can still get walkable places with good schools and a much less stressful commute to DC in MD for $850,000 to $900,000 and less. $750,000 in Arlington in a 6/10 school district will get you this:

https://www.redfin.com/VA/Arlington/2411-John-Marshall-Dr-22207/home/11225837

Anonymous wrote:

Anonymous wrote:

Fact is that if you have a budget of $400,000 to $900,000 (middle class and upper middle class by area standards), you get much more bang for your buck in MoCo than in NoVA. You can get a SFH half a mile from DC, 1 1/2 miles from Metro and all the shopping in Bethesda and in a 8/10 school district for $899,000 in Chevy Chase. There is nothing this nice, this close to DC and Metro, for this kind of price in VA.

There is always a reason why something is cheaper. MOCO is simply not as desirable as NOVA so it is cheaper. If you are getting more "bang for your buck" you are giving up on future appreciation. You are also taking a big risk on those 8/10 schools which are right on the border of some of the lowest performing schools in the DMV.

One reason why the homes in VA are more expensive is that there were more tear downs in close-in VA than close-in MoCo. Homes in places like Chevy Chase and Bethesda were always expensive, whereas 1,200 sq ft bungalows in Crystal City and Clarendon could be bought for around $100,000 in the 90s (when you couldn't get a home in Chevy Chase for less than $500,000). When you tear everything down and have no regulations on what you can build, you get a glut of $1.5M craftsman McMansions, which makes prices go up. NoVA has been playing catch-up with places like Chevy Chase and Bethesda since the 80s.

"Middle class" people can't afford $1.5M homes, and are priced out of Arlington and McLean. The only places for "middle class" people in VA are either in horrible 2/10 school districts or 1 1/4+ commutes to DC in rush hour. You can still get walkable places with good schools and a much less stressful commute to DC in MD for $850,000 to $900,000 and less. $750,000 in Arlington in a 6/10 school district will get you this:

https://www.redfin.com/VA/Arlington/2411-John-Marshall-Dr-22207/home/11225837

"Middle class" people can't afford $1.5M homes, and are priced out of Arlington and McLean. The only places for "middle class" people in VA are either in horrible 2/10 school districts or 1 1/4+ commutes to DC in rush hour.