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Old 03-03-2014, 07:46 PM
 
Location: Annandale
28 posts, read 41,220 times
Reputation: 27

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We live in 22311 and not sure if we will buy out here. Leasing a Townhome now. We might move out towards Herndon Sterling to lease to see if we like the area and save some leasing costs.. I am curious to see how the market reacts to the new silver live metro opening this summer.
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Old 03-03-2014, 08:06 PM
 
1,339 posts, read 3,159,830 times
Reputation: 2222
Quote:
Originally Posted by coair73x View Post
We live in 22311 and not sure if we will buy out here. Leasing a Townhome now. We might move out towards Herndon Sterling to lease to see if we like the area and save some leasing costs.. I am curious to see how the market reacts to the new silver live metro opening this summer.
Such events/developments are already priced in.
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Old 03-04-2014, 09:36 AM
 
53 posts, read 74,228 times
Reputation: 31
That is BS. I live in Centreville, and I have seen prices take a big jump becuase people are buying these over priced townhomes. I had trouble wanting to buy a $300,000 townhome a year ago. Now Those same ones are about $330,000, which is pricing me out. Gainesville and Haymarket is becoming priced out too. This current government is about making gov bigger, even if it's highering gov contracted companies. People are highering, in which people with good paying jobs are moving in, and buying up this area, because of really low crime, great schools, and in a more suburban area. Forget those articles, I'm seeing it... Friends house values have shot up a good $50,000.

I'm from Vegas, and cost of living is much better there, but moved here to be close to my wife's parents. BIG mistake...
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Old 03-04-2014, 10:02 AM
 
Location: D.C.
2,697 posts, read 2,419,824 times
Reputation: 4338
Quote:
Originally Posted by airjay75 View Post
My prediction, FWIW, is continued slow growth in the price of housing in NoVA and the DC area. Think increases of about 2-3% per year, with some neighborhoods outpacing that and others less than that. I don't think housing prices here are inflated, but I also don't think they are grossly undervalued either.
I agree with airjay, I think things will slow back down, but not crash. One of the things to remember about the past few years here re: housing inventory and price appreciation, is that it didn't happen during a boom time in the economy in general. It's not like DC bypassed the recession totally, it did get hit, but not quite as bad as say a Chicago did. Builder's aren't building large amounts of speculative housing units like they once were. They continue to keep the margin between construction starts and sold contracts pretty tight, which is good for the argument of over-supply (I'm talking for-sale product here, not rental, which is a whole different bag of tacks). Some of this rapid appreciation over the past 2 years I think was influenced by a recovering economy in general. Other markets are seeing this happen now too. I personally don't think DC's housing stock is anywhere near the danger zone of a "bubble". Sure, some pockets might be pushing it a little, like out towards me in Brambleton - more specifically the South Riding area along Rt. 50 towards 15 (I'm looking at you Willowsford), but again, the construction starts to sold contracts ratio remains very tight and pretty safe.

In terms of federal contraction in the area, I'm not so sure I agree. I do agree that some areas of government spending will certianly be reduced, but the fact remains that our top employer in the region has nearly 320,000,000 "customers" and growing at an average of 6,000 per day, I think the federal spending discussion is more like a game of musical chairs. One is hot (defense spending) at the moment, one is warming up (social services aka healthcare support). I think budget allocations just shift from area to another. Out goes the defense contractor, in comes the social services support contractor.
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