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Old 04-15-2008, 02:32 PM
 
29,463 posts, read 33,710,678 times
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Please find attached a listing of properties with potential for increased valuation. They are in Temple Hills and if you want to see a potential for upside valuations you may want to consider them. Of course consulting a professional is your best move but this may be a starter.

Temple Hills Foreclosures for Sale. Real Estate in Temple Hills, Maryland
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Old 04-15-2008, 05:15 PM
 
Location: Washington, DC
48 posts, read 167,861 times
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Sorry, but can someone put all of this into English?
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Old 04-15-2008, 05:17 PM
 
250 posts, read 1,228,000 times
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Quote:
Originally Posted by TuborgP View Post
Thank you I can't believe people are still operating in the mind set of making a profit off of anything other than fire sales and foreclosures. Incredible. The question is will National Harbor slow the decline in housing values in the area compared to elsewhere. The people who are falling for the increasing home value pitch are beyond sub prime.
I don't think anyone is genuinely "falling" for the line that it'll increase housing values, but I think there's some folks out there who aren't thinking critically about it all.

Here's a thought:

The National Harbor, once completed, is bringing LOTS of shopping, amenities, and things to do. I fully expect it to be a popular destination that fills a serious need for this area of the state. It WILL make the area a more popular place to live for most people.

There's also 3 different condo buildings going in.

I have not heard a solid total on just how many residences will be there, but I think it's safe to assume hundreds, if not more than a thousand. If there were 300 new residences going in, that would mean 300 more properties for sale in a market that is obviously glutted already. Lots of people prefer to buy new rather than resale if they can afford it.

At least in the short term sense, How do property values of resale homes rise when they have to compete for buyers with the new harbor? over the long term, I think there is a huge positive impact, but think about the short term too here.

Last edited by TeamBenya; 04-15-2008 at 05:18 PM.. Reason: typo
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Old 04-15-2008, 05:19 PM
 
250 posts, read 1,228,000 times
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Quote:
Originally Posted by lisat View Post
Sorry, but can someone put all of this into English?
Simply put- Ask 10 people and you'll get 10 answers, nobody knows who is right!
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Old 04-15-2008, 06:41 PM
 
29,463 posts, read 33,710,678 times
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Quote:
Originally Posted by TeamBenya View Post
I don't think anyone is genuinely "falling" for the line that it'll increase housing values, but I think there's some folks out there who aren't thinking critically about it all.

Here's a thought:

The National Harbor, once completed, is bringing LOTS of shopping, amenities, and things to do. I fully expect it to be a popular destination that fills a serious need for this area of the state. It WILL make the area a more popular place to live for most people.

There's also 3 different condo buildings going in.

I have not heard a solid total on just how many residences will be there, but I think it's safe to assume hundreds, if not more than a thousand. If there were 300 new residences going in, that would mean 300 more properties for sale in a market that is obviously glutted already. Lots of people prefer to buy new rather than resale if they can afford it.

At least in the short term sense, How do property values of resale homes rise when they have to compete for buyers with the new harbor? over the long term, I think there is a huge positive impact, but think about the short term too here.
National Harbor was suppose to bring lots of stores and may still. However we either are already in or will soon officially be in recession. It is being led by housing, financials and retail. Those are the areas taking the hardest hits. Even high end merchants are feeling the pain. The former exceptions were the major coastal markets where foreigners could capitalize on the declining dollar. Wall street jobs are taking a major hit which will have a ripple effect on that market. Malls nationwide are in trouble and retailers are closing stores. Where are the shoppers going to come up with the money with foreclosures and inflation on the rise. Hmmmm will they travel from a far with gasoline prices where the are and might be? Corporate profits are being driven by foreign markets etc. National Harbor may suffer from horrible timing. As you said all this will do is make the local housing market even more glutted. Living there maybe great but thinking you are going to make a profit may be very iffffy.
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Old 04-16-2008, 09:02 AM
 
4,945 posts, read 8,265,265 times
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TuborgP,

I can rationalize with some of things you have said about the failing economy, but history shows us that people will continue to drive their cars, eat out, shop, go to plays, movies and spend money on outside activities. In a perfect world, they should be saving, because we don't know where we are headed. But they won't and that's why National Harbor will be a big hit. It's another destination for people in this area to enjoy!
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Old 04-17-2008, 07:53 AM
 
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As for that part of Temple Hills by Fisher Road, I lived in two places in that area for 12 years. One in a rented single family home, and a little further away (keeping straight around Fisher) in an apt complex. I must say that I loved living in both areas. The apt complex I lived in did not have issues at all, except parking. It is one of the only apt complexes that get consistent good ratiings in Temple Hills. The specific area you are referring to is quite nice. Older established neighborhood. If I could have afforded a home in that area, that is where I would have stayed because my church is in that area, and I'm very active in my church.

There are actually two Senior Citizens complexes near that area as well, so perhaps your Mom could get involved in programs at either of those?
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Old 04-17-2008, 08:44 AM
 
29,463 posts, read 33,710,678 times
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Quote:
Originally Posted by DC's Finest View Post
TuborgP,

I can rationalize with some of things you have said about the failing economy, but history shows us that people will continue to drive their cars, eat out, shop, go to plays, movies and spend money on outside activities. In a perfect world, they should be saving, because we don't know where we are headed. But they won't and that's why National Harbor will be a big hit. It's another destination for people in this area to enjoy!
I was not commenting based on history but on current conditions. Our economy is driven by consumer spending and the market is down and we are in or close to a recession because the consumer has already pulled back. Just watch any of the financial shows and it will jump out at you.

Consumer spending grows 0.2% -- baltimoresun.com (http://www.baltimoresun.com/business/investing/bal-bz.economy15apr15,0,5665207.story?track=rss - broken link)
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Old 04-17-2008, 09:02 AM
 
Location: Washington, DC
48 posts, read 167,861 times
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Quote:
Originally Posted by Mom21 View Post
As for that part of Temple Hills by Fisher Road, I lived in two places in that area for 12 years. One in a rented single family home, and a little further away (keeping straight around Fisher) in an apt complex. I must say that I loved living in both areas. The apt complex I lived in did not have issues at all, except parking. It is one of the only apt complexes that get consistent good ratiings in Temple Hills. The specific area you are referring to is quite nice. Older established neighborhood. If I could have afforded a home in that area, that is where I would have stayed because my church is in that area, and I'm very active in my church.

There are actually two Senior Citizens complexes near that area as well, so perhaps your Mom could get involved in programs at either of those?
Mom21, thanks so much for this! Good to know, especially about the senior centers. The house itself is truly perfect, but we were just concerned about the location. Do you buy the perfect house in a less than perfect location, or go with the real estate mandate of location, and get a less than desirable house? Our other concern is that the neighborhood doesn't seem very diverse, which is a downside. I'm also concerned because according to the WMATA trip planner, I'd have to get the bus at 7:30 to get to the office by 9! Yikes! That is definitely not doable.
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Old 04-17-2008, 11:24 AM
 
4,945 posts, read 8,265,265 times
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Tuborg,

I watch them all the time and I somewhat agree. But our region is very different from say Cleveland, meaning that people here have more disposable income. That's why I feel that National Harbor will be a local success. In addition, Gaylord brings their own crowds. The convention center and rooms at NH are already booked up for the next five years. I can guarantee that despite the country's economic situation, people will continue to do the activities that i mentioned in my earlier post. No one is in a panic. I hang out all the time in DC. The crowds are still there during the week and on weekends. I go to Redskins, Caps, Nats and Wizards games. Most people are still living like there is no recession despite what the media says. I do PR for a living so be leary of the media. Doom and gloom sells!
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