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Old 09-28-2015, 12:37 PM
 
Location: DC
2,044 posts, read 2,522,327 times
Reputation: 1792

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Quote:
Originally Posted by 1st_one View Post
Your friend may want to expand her search and consider areas that are east of the river. With the savings, she can send her children to private school. Contrary to popular believe, there are working class communities east of the river such as Hillcrest and Penn Branch that she may find appealing. West of the river, she would be lucky to land a condo in today's market however, looking east she may even land new construction.
Or they can move to a much safer area in Montgomery County for the same cost with far better schools, and not have to pay for private schools. This person is not working class, they are professional class, though a single parent. In most other cities, she would be in the top 2% of income earners, she is in DC so she falls into more of the middle. Again, she may just have to come to terms her choices are a far less safe area of the city with poor local schools, or living in the suburbs with better schools, safer community, but poorer transportation options. She also does not know much about Maryland if she thinks DC schools are better, especially when compared to montgomery county. You are taking one of the best county school districts in the country, in Marland as one of her options. We are seriously mentioning east of the river here? No. just no. She has kids, move to Montgomery county. If she were on her own without the kids, DC would be a great option for her to buy a condo. The kids change things significantly. In her income range considering she has kids her best option is Montgomery County.

While I don't agree with coldbliss about everything, in terms of the fee simple market for houses in DC you are competing against those of us who have no kids, two incomes, and $200k-$300k in annual household income. I bought a house around $400k, a couple of years ago, but our budget was far more. Again, DINKs are unusually concentrated here, and they have a large advantage and are increasingly moving into the city. Without kids to limit their budget, or worry about other aspects, they have a distinct advantage, especially if there is a bidding war.
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Old 09-28-2015, 07:38 PM
 
Location: North Carolina for now....ATL soon.
1,233 posts, read 1,149,706 times
Reputation: 1308
Quote:
Originally Posted by DistrictSonic View Post
Or they can move to a much safer area in Montgomery County for the same cost with far better schools, and not have to pay for private schools. This person is not working class, they are professional class, though a single parent. In most other cities, she would be in the top 2% of income earners, she is in DC so she falls into more of the middle. Again, she may just have to come to terms her choices are a far less safe area of the city with poor local schools, or living in the suburbs with better schools, safer community, but poorer transportation options. She also does not know much about Maryland if she thinks DC schools are better, especially when compared to montgomery county. You are taking one of the best county school districts in the country, in Marland as one of her options. We are seriously mentioning east of the river here? No. just no. She has kids, move to Montgomery county. If she were on her own without the kids, DC would be a great option for her to buy a condo. The kids change things significantly. In her income range considering she has kids her best option is Montgomery County.

While I don't agree with coldbliss about everything, in terms of the fee simple market for houses in DC you are competing against those of us who have no kids, two incomes, and $200k-$300k in annual household income. I bought a house around $400k, a couple of years ago, but our budget was far more. Again, DINKs are unusually concentrated here, and they have a large advantage and are increasingly moving into the city. Without kids to limit their budget, or worry about other aspects, they have a distinct advantage, especially if there is a bidding war.
Well, the problem with her moving to Montgomery county is that she already has her kids in a great school in Capitol Hill, and doesn't want to move them to Maryland. Secondly, she is an attorney for the Attorney General's Office, and if something were to happen while the kids were at school, she doesn't want to be 45 minutes out from Montgomery County before she could get to them. Thirdly, within the next year, she going to up for Judgeship, and a requirement of becoming a judge in The District is that you must be a resident of The District. So that's what's going on with that. Thanks for all you guys input. The search continues....
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Old 09-28-2015, 09:47 PM
 
Location: DC
2,044 posts, read 2,522,327 times
Reputation: 1792
Quote:
Originally Posted by No2Monsanto View Post
Well, the problem with her moving to Montgomery county is that she already has her kids in a great school in Capitol Hill, and doesn't want to move them to Maryland. Secondly, she is an attorney for the Attorney General's Office, and if something were to happen while the kids were at school, she doesn't want to be 45 minutes out from Montgomery County before she could get to them. Thirdly, within the next year, she going to up for Judgeship, and a requirement of becoming a judge in The District is that you must be a resident of The District. So that's what's going on with that. Thanks for all you guys input. The search continues....
Well this makes more sense, but if she is going to a local school in capital hill, she could lose the assignment the minute she moves. If it's a charter it is a different story.

Likewise her best choice is not going to be a 3 br home, it's going to be a 2 BR condo, which is in her budget. Riggs Park, the Mayor's neighborhood, is likely going to be her only option right now in terms of a safe neighborhood where she can afford a house. Riggs Park, Queens Chapel, and Michigan Park are probably her best option. There are mostly government workers living there anyway. Taking she is an Attorney General she needs to stay as far away from Trinidad as possible. To much risk there. Likewise for east of the river.

These are the ONLY neighborhoods in her budget. Even then I am not sure how long it will last.
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Old 10-02-2015, 01:54 AM
 
1,641 posts, read 2,453,404 times
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I'm from ATL, and I can understand your point of view. But I wouldn't go as far as 5x bigger. In Atlanta, you're still paying $500k for a 2/1 condo (near Buckhead).

They have old houses, because DC didn't burn down during the Civil War like Atlanta did. Also, I don't know which part of NYC you went to, but NYC is in worst shape than DC as far as the age of the houses goes.

I'm pretty sure, almost everyone on this forum makes six figures in DC. The thing about DC real estate scene is that, the price will just go up, no matter how bad the country is. Because there is a heavy height restriction that developers have to comply to, and noise violation in some parts, where it limits development. Also, they can't be buying 200 year old houses for $1 Million + to build an enormous condo building. It's not a good business.

Anyway, good luck. Also, $130k with $425k mortgage is going to be tough for a single mom with twin children (? unless dual income). We're not even talking about the day care cost in DC, let alone mortgage and car insurance. Also, DC has income tax on top of the federal tax which is higher than both MD and VA.

Last edited by Plokivos; 10-02-2015 at 02:16 AM..
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Old 10-02-2015, 09:31 AM
 
Location: North Carolina for now....ATL soon.
1,233 posts, read 1,149,706 times
Reputation: 1308
Quote:
Originally Posted by Plokivos View Post
I'm from ATL, and I can understand your point of view. But I wouldn't go as far as 5x bigger. In Atlanta, you're still paying $500k for a 2/1 condo (near Buckhead).

They have old houses, because DC didn't burn down during the Civil War like Atlanta did. Also, I don't know which part of NYC you went to, but NYC is in worst shape than DC as far as the age of the houses goes.

I'm pretty sure, almost everyone on this forum makes six figures in DC. The thing about DC real estate scene is that, the price will just go up, no matter how bad the country is. Because there is a heavy height restriction that developers have to comply to, and noise violation in some parts, where it limits development. Also, they can't be buying 200 year old houses for $1 Million + to build an enormous condo building. It's not a good business.

Anyway, good luck. Also, $130k with $425k mortgage is going to be tough for a single mom with twin children (? unless dual income). We're not even talking about the day care cost in DC, let alone mortgage and car insurance. Also, DC has income tax on top of the federal tax which is higher than both MD and VA.
Well I wouldn't say that I couldn't get a 2/1 for under $500k in Buckhead; it just depends on what building, and what part of Buckhead you wanna live in. Actually Midtown is white hot right now, and that price is becoming more and more common there for a 2 bedroom condo that anywhere.

So I stand corrected on her salary, it's actually $150k, and now she's increased her housing budget to $500k. At $425, she just wasn't finding anything unless it needed a good bit of work, or was in the wrong neighborhood. When she did find something, it was in the wrong neighborhood or a huge bidding war ensued. The housing market in D.C. is pure craziness! So we found a new town home development that's still being built, and she shot an email to her realtor to get some info on it for her. She did recently become open to living in Southeast, but only a couple neighborhoods; one of which I know is Hillcrest, but can't remember the other. Anyway, the hunt continues. Thanks...
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Old 10-02-2015, 09:47 AM
 
Location: DC
2,044 posts, read 2,522,327 times
Reputation: 1792
Quote:
Originally Posted by No2Monsanto View Post
Well I wouldn't say that I couldn't get a 2/1 for under $500k in Buckhead; it just depends on what building, and what part of Buckhead you wanna live in. Actually Midtown is white hot right now, and that price is becoming more and more common there for a 2 bedroom condo that anywhere.

So I stand corrected on her salary, it's actually $150k, and now she's increased her housing budget to $500k. At $425, she just wasn't finding anything unless it needed a good bit of work, or was in the wrong neighborhood. When she did find something, it was in the wrong neighborhood or a huge bidding war ensued. The housing market in D.C. is pure craziness! So we found a new town home development that's still being built, and she shot an email to her realtor to get some info on it for her. She did recently become open to living in Southeast, but only a couple neighborhoods; one of which I know is Hillcrest, but can't remember the other. Anyway, the hunt continues. Thanks...
There are quite a few houses in Takoma DC, Riggs Park, and Brightwood in her budget if she is at $500k. She would likely be able to find something at this price point in this part of NW and upper NE.
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Old 10-02-2015, 10:37 AM
 
Location: North Carolina for now....ATL soon.
1,233 posts, read 1,149,706 times
Reputation: 1308
Quote:
Originally Posted by DistrictSonic View Post
There are quite a few houses in Takoma DC, Riggs Park, and Brightwood in her budget if she is at $500k. She would likely be able to find something at this price point in this part of NW and upper NE.
You mean Takoma, DC is in NW??
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Old 10-02-2015, 10:54 AM
 
Location: DC
2,044 posts, read 2,522,327 times
Reputation: 1792
Quote:
Originally Posted by No2Monsanto View Post
You mean Takoma, DC is in NW??
Well to fill you in. The Takoma and Takoma Park area is split between NW and NE DC and Takoma Park, MD in Montgomery County. So there are houses on the DC side in the area. Sometimes the houses are labeled as brightwood, such as this one:

https://www.redfin.com/DC/Washington.../home/10053990

or sometimes Takoma Park, such as this one:

https://www.redfin.com/DC/Washington.../home/10079299

(NOTE TO MODS, this is for INFORMATIONAL PURPOSES ONLY, NOT ADVERTISING)

Either way, this northern border area is the part she is most likely to find a house in her budget that is a safe neighborhood.

The neighborhood boundaries in this area are a little weird too, it may be listed as brightwood, but actually be Takoma, It may be listed as Takoma Park, and may be Riggs Park.



Takoma = DC
Takoma Park = MD

The whole area though is not exclusively Maryland. Just pay attention to DC zip codes, which is 20012 and 20011 in this area. In fact that is what I would suggest, look for houses in these two zip codes. There are some nice communities in her budget now that she has raised it.

But pay close attention to the address to make sure it's DC, and you will be fine.

But if her budget is now over $500k, she needs to look in this area, it is nice and in her budget. Far better than anything she will find east of the river. Plus at $500k she is no longer in deep competition with developers. It may not be the most up to date house, but it will be livable and in a decent neighborhood.
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Old 10-02-2015, 11:19 AM
 
Location: North Carolina for now....ATL soon.
1,233 posts, read 1,149,706 times
Reputation: 1308
Quote:
Originally Posted by DistrictSonic View Post
Well to fill you in. The Takoma and Takoma Park area is split between NW and NE DC and Takoma Park, MD in Montgomery County. So there are houses on the DC side in the area. Sometimes the houses are labeled as brightwood, such as this one:

https://www.redfin.com/DC/Washington.../home/10053990

or sometimes Takoma Park, such as this one:

https://www.redfin.com/DC/Washington.../home/10079299

(NOTE TO MODS, this is for INFORMATIONAL PURPOSES ONLY, NOT ADVERTISING)

Either way, this northern border area is the part she is most likely to find a house in her budget that is a safe neighborhood.

The neighborhood boundaries in this area are a little weird too, it may be listed as brightwood, but actually be Takoma, It may be listed as Takoma Park, and may be Riggs Park.



Takoma = DC
Takoma Park = MD

The whole area though is not exclusively Maryland. Just pay attention to DC zip codes, which is 20012 and 20011 in this area. In fact that is what I would suggest, look for houses in these two zip codes. There are some nice communities in her budget now that she has raised it.

But pay close attention to the address to make sure it's DC, and you will be fine.

But if her budget is now over $500k, she needs to look in this area, it is nice and in her budget. Far better than anything she will find east of the river. Plus at $500k she is no longer in deep competition with developers. It may not be the most up to date house, but it will be livable and in a decent neighborhood.
Oh wow, this is really great info! Thanks.
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Old 10-02-2015, 01:52 PM
 
Location: DC
6,843 posts, read 7,041,951 times
Reputation: 3510
It may be a distinction without much difference, but I think Takoma DC is wholly within NW. Riggs Park is in NE
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