Thinking about buying in South Riding (Reston, Chantilly: short sales, foreclosures, condo)

[smaug20000]

We are going to try to sell our 2 bedroom condo again, and we are thinking about buying a SFH in South Riding. I have heard the comments about Pleasantville and all, but we have 2 young children, and I like the fact that there are lots of families with kids there. I also like the tot lots, the elementary school, the swimming pools and the price of housing. Now there are some SFH that are $450k and below there. We would buy there with the idea of staying for 5-10 years.

I work in Reston and my husband works in Fairfax Govt. What are your thoughts? Maybe the market hasn't reached bottom yet, but it seems pretty close. The problem if you have to sell is that if the market is at the bottom for you to buy it is also there for where you are selling.

Our condo is in Falls Church right next to the West Falls Church Metro, and a couple of other units in our complex have recently sold. So we are hoping if we go on the market in October that we will possibly sell before Christmas.

[lindsayd]

It sounds like you're growing out of the 2 bedroom. If you can afford to sell it and pay the mortgage on the SFH, make the move! You're looking long-term investment wise, plus it seems like more space will be good for your family. South Riding is a great neighborhood, just doesn't have the convenience of Falls Church, but it's getting there.

No one is going to be able to time the bottom of the market perfectly, and if they say they can, they must have a crystal ball.

Good luck with the move!

[barryhussein]

South Riding is known for having the worst noise from IAD. 1000+ flights per day; a few are going to rattle your fillings.

[VRE332]

they have huge snakes out there too. Big ones that eat rats and stuff. Have fun!!!

[Novamom06]

Originally Posted by VRE332

they have huge snakes out there too. Big ones that eat rats and stuff. Have fun!!!

What??

Anyway, I highly recommend South Riding and the general area as a place to raise a family. I'd also look a few miles down the road in Stone Ridge and other surrounding developments in Aldie. The air traffic noise is not that bad but it depends where you are. It is worse closer to Chantilly. Google the Dulles Airport Noise contour map.

What I like about living out here are great neighborhoods, really friendly people, lots of families, close to shopping and dining (and more is coming), still lots of trees and fresh air, and not as much congestion as in other parts of northern va - yet. Schools are new and very good, although keep in mind boundries may still change as the area grows, but its all Loudoun county schools. Crime is virtually non existent out this way.

[Tee11]

Is there really a difference in noise from Dulles between South Riding and Stone Ridge?? Thanks for pointing out the noise contour map, I will look for it.

[ENCE]

Originally Posted by barryhussein

South Riding is known for having the worst noise from IAD. 1000+ flights per day; a few are going to rattle your fillings.

Originally Posted by VRE332

they have huge snakes out there too. Big ones that eat rats and stuff. Have fun!!!

i live in SR and though you can see/hear the flights from time to time, it's not like living near railroad tracks. certainly not enough to even cause you think about it while watching TV...

snakes? as soon as i see one, i'll let you know....

based on where you work, i think it's a pretty good place to live. i would only consider stone ridge or braddock corner because toll brothers is the primary builder in SR, which i'm not too crazy about...

[mojo_1979]

Originally Posted by smaug20000

We are going to try to sell our 2 bedroom condo again, and we are thinking about buying a SFH in South Riding. I have heard the comments about Pleasantville and all, but we have 2 young children, and I like the fact that there are lots of families with kids there. I also like the tot lots, the elementary school, the swimming pools and the price of housing. Now there are some SFH that are $450k and below there. We would buy there with the idea of staying for 5-10 years.

I work in Reston and my husband works in Fairfax Govt. What are your thoughts? Maybe the market hasn't reached bottom yet, but it seems pretty close. The problem if you have to sell is that if the market is at the bottom for you to buy it is also there for where you are selling.

Our condo is in Falls Church right next to the West Falls Church Metro, and a couple of other units in our complex have recently sold. So we are hoping if we go on the market in October that we will possibly sell before Christmas.

Like any new development that was constructed during the "boom", there are now a ton of short sales and foreclosures in South Riding. For that reason alone, I woul say that prices have much further to fall in communities such as South Riding and Stone Ridge.

[FairfaxGirl]

My husband and I visited the Toll brothers community in south riding about six weeks ago - they offered $60k off the list price. We went back there 2 weeks ago, they offered $75k off. A brand new 'villages' neo-traditional home is now about $530k, which is a pretty good deal in a cookie-cutter, white-picket-fence, far-flung place. What concerns me is the drastic price cuts Toll is offering. It only makes me wonder..... what would they offer in December 08?

BTW, this is my first post, and I am just dying to make a comment to Mojo_1979, since he gives the impression that he rejoices in the total collapse of housing prices (and possibly the demise of the US economy)... Well, as home prices continue to fall, the collateral damage can become trememdous (well duh) - Mojo unless you work for the Fed Govt, aren't you worried that you may be unemployed (or afflicted in some other similar way) by the time home prices fall to 'rock bottom'? Or how about the potential of interest rates being much higher when you are ready to buy?