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Old 09-30-2013, 02:11 PM
 
3 posts, read 8,091 times
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Arts District Hyattsville: EYA Townhomes & Live-Work Homes in Hyattsville, Maryland

A Bryant or equivalent costs about abt 450 k in Arts district Hyattsville, but same house cost $850 k in Mosaic district, Merrifield, VA. Granted Mosaic district is a much better neighborhood so land prices would be more expensive, but wudnt the labor and parts be the same ? the 2 cities are only 30 miles apart so i am guessing they use the same crew. Is it a case of the developer over charging?


Mosaic District: An EYA Townhome Neighborhood in Fairfax, VA
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Old 09-30-2013, 02:16 PM
 
Location: Springfield
2,765 posts, read 8,329,220 times
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Have you ever been to Hyattsville before? They have their share of socioeconomic problems. I had worked there for several years and it was not pleasant. We had our cars stolen from the parking garage, multiple murders on East-West Highway where people were getting gunned down in broad daylight, the overall ambiance is not pleasant. Walking from the PG Plaza was a risk every day. I saw the CVS get robbed. I felt that if I was a person of color, I did not belong there.
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Old 09-30-2013, 03:10 PM
 
Location: Maryland
6 posts, read 9,742 times
Reputation: 13
Quote:
Originally Posted by skuthyar View Post

Granted Mosaic district is a much better neighborhood so land prices would be more expensive, but wudnt the labor and parts be the same ? the 2 cities are only 30 miles apart so i am guessing they use the same crew. Is it a case of the developer over charging?
It is mostly land values/Merrifield's hotter housing market.

And I doubt they're overcharging. As of two weeks ago, they were about 90% sold out in Mosaic.
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Old 09-30-2013, 03:20 PM
 
Location: Tysons Corner
2,772 posts, read 4,318,114 times
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As I always say, the quality of the home, is minuscule to the rationale of it's price. The sticks and bricks are meaningless. The cost variant to build a townhome, vs a house, vs a mcmansion in this area is minimal (variants of 100k in construction cost) compared to;

1) the value of the land... location location location is still the main driver of all value
2) the supply vs demand of rule #1

If you don't believe me, check out the mansions you could buy in Arkansas for the same price as a 1br condo in the DC area.
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Old 09-30-2013, 03:38 PM
 
1,784 posts, read 3,459,561 times
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Quote:
Originally Posted by tysonsengineer View Post
... location location location ...
Yup, that is the short answer to the OP's question.
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Old 09-30-2013, 04:32 PM
 
Location: My beloved Bluegrass
20,126 posts, read 16,159,824 times
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Schools, crime rate, and the quality of your neighbors - and worth every penny.
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Old 09-30-2013, 04:49 PM
 
Location: Annandale, VA
5,094 posts, read 5,174,352 times
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Quote:
Originally Posted by Oldhag1 View Post
Schools, crime rate, and the quality of your neighbors - and worth every penny.
... and an existing Metro stop.
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Old 10-01-2013, 08:27 AM
 
153 posts, read 306,473 times
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WIthout a doubt the school system and existing developement are better in Merrifield, VA. but the question is "how much better"? My personal opinion is it is not "worth every penny" to pay twice as much! But then again I don't have an unlimited budget. The best way for you to determine if the Hyattsville Arts District is right for you is to visit it in person and walk around to get a feel for it. Talk to some people who actually live there and look at the crime stats for that specific area. People love to paint an incorrect broad generalization over ALL of PG county when in actuality there are some nice safe areas that are a short commute to downtown DC. This is the real reason why you can buy an equivalent property for half the price.
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Old 10-01-2013, 08:42 AM
 
Location: Springfield
2,765 posts, read 8,329,220 times
Reputation: 1114
Quote:
Originally Posted by Matt2789 View Post
WIthout a doubt the school system and existing developement are better in Merrifield, VA. but the question is "how much better"? My personal opinion is it is not "worth every penny" to pay twice as much! But then again I don't have an unlimited budget. The best way for you to determine if the Hyattsville Arts District is right for you is to visit it in person and walk around to get a feel for it. Talk to some people who actually live there and look at the crime stats for that specific area. People love to paint an incorrect broad generalization over ALL of PG county when in actuality there are some nice safe areas that are a short commute to downtown DC. This is the real reason why you can buy an equivalent property for half the price.

Walk around during the day not night, because it's a bad place. Seriously.
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Old 10-01-2013, 09:05 AM
 
153 posts, read 306,473 times
Reputation: 121
Quote:
Originally Posted by VRE332 View Post
Walk around during the day not night, because it's a bad place. Seriously.
If it weren't for people having this opinion that ALL of PG county is the same I would never have been able to afford the incredible deal I got on a single family home over here (would easily have cost 2-3 times as much in NOVA). THANK YOU!!!!! I live in Mt. Rainier/Brentwood (bordering the Hyattsille Arts District) and I feel safe biking to the Metro every morning and my neighbors are all super cool. So please do some research and come visit during the day if you prefer and talk to some people who actually live in some of these better pockets. The internet is full of people who are scared to venture over the tracks and find out what is really there. Good luck!

https://www.youtube.com/watch?v=sE8d...xqNKuePoL5Ie--
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