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Old 02-23-2013, 09:23 AM
 
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I have noticed alot of new development in Capitol Heights that is relatively inexpensive. Any thoughts about purchasing in that area???
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Old 02-23-2013, 12:34 PM
 
Location: DMV
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Quote:
Originally Posted by lrh23 View Post
I have noticed alot of new development in Capitol Heights that is relatively inexpensive. Any thoughts about purchasing in that area???
What's your definition of inexpensive? There was a gated condo complex that was just built a few years ago that had places going for $199k and within two years those places were worth half of that. Some of the development is just overpriced.
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Old 02-23-2013, 01:43 PM
 
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Default the new wal-mart and surrounding development will make it better

the new wal-mart and surrounding development will make it better

the new walmart will make the capitol heights much more desireable. in addition, the price in capitol heights is crazily low.

get on before it takes off.

http://washingtondc.walmartcommunity...pitol-gateway/

http://www.rappaportco.com/property_...p?tablekey=413
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Old 02-23-2013, 04:46 PM
 
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I was referring to all the construction on addison road near the metro....Do you think the townhomes in that area are good for investments?
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Old 02-24-2013, 06:37 AM
 
Location: Maryland
18,630 posts, read 19,414,577 times
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Originally Posted by ysfgh6 View Post
the new wal-mart and surrounding development will make it better

the new walmart will make the capitol heights much more desireable. in addition, the price in capitol heights is crazily low.

get on before it takes off.

Capitol Gateway - Walmart Washington D.C.

The Rappaport Companies - Developers and Managers of Retail Properties
Wal-Mart increases property values? That's news to me. Any data to support that or are you working on faith? The prices in Capitol Heights are crazy low for a reason.
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Old 02-24-2013, 07:11 AM
 
Location: Maryland
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Originally Posted by pgtvatitans View Post
What's your definition of inexpensive? There was a gated condo complex that was just built a few years ago that had places going for $199k and within two years those places were worth half of that. Some of the development is just overpriced.
You're not talking about Addison Condos are you? LOL they were selling for 200K and now I see some are going for 40K.
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Old 02-24-2013, 09:11 AM
 
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These constructions
New Construction Homes for Sale in The Park At Addison Metro - Ryan Homes

That is not bad for a brand new home. Is there a reason why they are so cheap? The THs are even cheaper

Chance Place Capitol Heights, Maryland
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Old 02-24-2013, 11:34 AM
 
Location: Maryland
18,630 posts, read 19,414,577 times
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Quote:
Originally Posted by lrh23 View Post
These constructions
New Construction Homes for Sale in The Park At Addison Metro - Ryan Homes

That is not bad for a brand new home. Is there a reason why they are so cheap? The THs are even cheaper

Chance Place Capitol Heights, Maryland
They are cheap because the schools suck and the surrounding area is plagued by crime. This dampens demand for the homes and the market price is set to a point where potential buyers (such as yourself) begin to think the homes are a good deal despite the negatives and the homes begin to sell.
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Old 02-24-2013, 03:50 PM
 
Location: DMV
10,125 posts, read 13,983,093 times
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Quote:
Originally Posted by lrh23 View Post
These constructions
New Construction Homes for Sale in The Park At Addison Metro - Ryan Homes

That is not bad for a brand new home. Is there a reason why they are so cheap? The THs are even cheaper

Chance Place Capitol Heights, Maryland
Besides the metro, what is going to raise the value of these properties? It's just a bad investment. Building a Walmart isn't going to change anything because it's not about having stores, it's about the overall area. Like EdwardA has said, the place is a dump. You might have properties near the metro, but that metro station is one of the most dangerous in the region, so if you have people getting robbed, stabbed and shot there, then how attractive is that? How many families would want to live there?

Then on top of that, why would that be a good investment when you have houses in that area selling for well under $100k? If houses are that low, then what are the odds that your property would be able to maintain a value 3 times as much? I just think it's an awful investment. If the area had something, like a lot of jobs coming there, improved schools or crime, then I can understand it, but the moment you buy one of those places, you will more than likely be underwater which is the point I was making about the condos. These developers overvalue these places and people buy them and end up underwater which further exacerbates the problems in the county. If you invest some where, invest somewhere in an up and coming area. Oxon Hill is a good place, Fort Washington, Greenbelt, New Carrollton, Upper Marlboro and Laurel are probably the biggest places to invest in the county.
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Old 02-24-2013, 08:21 PM
 
2,429 posts, read 3,565,462 times
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Originally Posted by pgtvatitans View Post
If you invest some where, invest somewhere in an up and coming area. Oxon Hill is a good place, Fort Washington, Greenbelt, New Carrollton, Upper Marlboro and Laurel are probably the biggest places to invest in the county.
I would also add Hyattesville to that list.
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