How can singles afford houses in NOVA?!?! (Richmond, Arlington: middle-class, apartment)

[jaunespinoza]

Originally Posted by powersnax

Wow I didn't anticipate this response, I thought my first post would be dismissed for stating the obvious.

Anyway, I'm trying to read the posts but there's some acronyms I'm unfamiliar with. Can someone help decipher this city-data code?:

PWC?

PITA?

OP?

KCMO?

GC?

PWC=Prince William County
PITA=Principal, Interest, Tax, Insurance
OP=Original Poster
KCMO=Kansas City, MO
GC=Golf Course

[Yankeesfan]

Actually I think in this context PITA was meant for pain in the *** !

[Mike From NIU]

Originally Posted by jaunespinoza

PWC=Prince William County
PITA=Principal, Interest, Tax, Insurance
OP=Original Poster
KCMO=Kansas City, MO
GC=Golf Course

Close Juanes, but I think you missed PITA (you listed PITI, another common real estate term).

Powersnax, PITA means "Pain in the "

[springfieldva]

Originally Posted by Yankeesfan

Actually I think in this context PITA was meant for pain in the *** !

I actually started to post that "PITA = Pain in the A$$" but thought the Principal and Interest thing sounded a whole lot sweeter - LOL. In reality, they're pretty much one in the same though..

[powersnax]

Thanks for the explanation.

Good news, I found a few zero bedroom condos for $300k in Arlington! I'd love to have a house with no bedroom, what a great deal! (facetious)

[springfieldva]

Originally Posted by powersnax

Thanks for the explanation.

Good news, I found a few zero bedroom condos for $300k in Arlington! I'd love to have a house with no bedroom, what a great deal! (facetious)

I'll let you have my storage shed for 200K .

[cardinal2007]

You can buy studio condos for less than $300k in Arlington, and right near the Ballston Metro too, which is the one of the most expensive parts of NoVA.

851 GLEBE Rd NORTH #1112, ARLINGTON, VA 22203 | MLS# AR7171213
851 GLEBE Rd NORTH #1712, ARLINGTON, VA 22203 | MLS# AR7172450

Or you can go about a mile north and get a lot more space, though the HOA is quite up there: 4390 LORCOM Ln #304, ARLINGTON, VA 22207 | MLS# AR6892893

There are even cheaper areas of Arlington than that.
4600 FOUR MILE RUN Dr #703, ARLINGTON, VA 22204 | MLS# AR7146594
Thought the HOA fee is now trying to rival the mortgage.

One can certainly find much cheaper housing than $300k in Arlington.

[Tish Thompson]

Condo fees definitely are a killer in some areas. You may get lucky and find something in your price range. There are foreclosed condos that are spacious just outside of DC. I saw one that's not on the market yet, but had 3 BRs and 2 FBs. It needed carpet, paint, and bathrooms could use updating but it will probably sell in the low to mid 100s. The condo fee was high but it included water and electric. With a low enough mortgage, the condo fee doesn't seem so bad.

Originally Posted by powersnax

I'm a single professional and I've been looking for condos and townhouses in NOVA. Most of you are already aware of this, but I need to vent, so I must say - the housing prices in NOVA are ridiculous.

If you can't swing a $500k mortgage then it's pretty much guaranteed that what you can afford is going to be old and decrepit. Tiny, old, unimpressive one floor ramblers are still selling for close to $400k! It seems that even condemned houses in Arlington could sell for $300k!

So what's the solution for a single professional looking to buy? A condo? Oh that'll work... if you can pay a $600 condo fee on top of your mortgage... that probably doesn't even cover electricity!

And the traffic... oh the traffic...

Well... I work in NOVA so I'm still probably going to live here to avoid the long commutes. Hopefully I'll find something decent. What a hassle!

[jaunespinoza]

There was a good "House Hunters, Hong Kong" the other night. 450 SF studio for about 450,000.

[normie]

Originally Posted by jaunespinoza

There was a good "House Hunters, Hong Kong" the other night. 450 SF studio for about 450,000.

Yeah, but talk about a nasty commute to Tyson's Corner....