Buying a Home Wait or Buy NOW!!!! (Arlington, McLean: real estate, for sale)

[Bong477]

Convential wisdom says the real estate market has nowhere to go but down for the immediate future. That said, you can't predict this sort of stuff 100% reliably or everyone would be millionaires.

[Huckleberry3911948]

wait 4 months

[mojo_1979]

Originally Posted by Bong477

Convential wisdom says the real estate market has nowhere to go but down for the immediate future. That said, you can't predict this sort of stuff 100% reliably or everyone would be millionaires.

All of the economic indicators are very bearish for the housing market. IMO, wait at least one more year and you will save some $$$.

[Fairfax Mom]

There are tons of all brick homes in your price range - older homes that still look great.
And brick does not get hot in the summer - in fact I find my all brick home much cooler in the summer than vinyl homes I have owned.

[VirginiaGirl1]

Thnx fairfax mom it's good to have an open mind about all brick home I guess if we look hard enough something will come up. To be honest vinyl isn't worth my 400,000 the most I would pay for all vinyl anywhere is 250,000.

[VEIK]

your pricing is all over the place

LOL

[HEATHER72]

Originally Posted by VEIK

your pricing is all over the place

LOL

I totally agree! Good luck on finding an all vinyl siding house in a decent area for $250K. Plus, I swear in the original post she wrote she'd be here in 2 to 3 years.

[SharRahl]

I’ve currently been looking around at the house market, and you would be surprised by what you can find. The realtor I am using pointed out some really REALLY nice houses that last year where going for around 500$k, that are now 300$k. She said that hardly anyone is paying over 300$k recently. I also heard a report on NPR just a little while ago about the state of the housing market in areas close to large cities with heavily used Metro services.

Home Prices Drop Most in Areas with Long Commute : NPR
It seems the prices are starting to even out, and some places have even started to go back up in recent months.

[slim04]

Originally Posted by VirginiaGirl1

Thnx fairfax mom it's good to have an open mind about all brick home I guess if we look hard enough something will come up. To be honest vinyl isn't worth my 400,000 the most I would pay for all vinyl anywhere is 250,000.

In many communities inside the beltway or just outside, the land (.20 to .25 acres) alone is worth more than $250,000. I've seen tear downs listed for $400K in Arlington and Fall Church City.

[VEIK]

Yup, crappy old shacks in Pimmit Hills area of Tysons corner are leveled to the ground, and they are worthless.

But land there is got a good price tag on it.