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Old 10-14-2015, 07:53 AM
 
Location: North Carolina for now....ATL soon.
1,233 posts, read 1,150,236 times
Reputation: 1308

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Quote:
Originally Posted by walked View Post
Pretty sure this is referencing me!

We own a 1920s home in Woodridge we bought in 2013. We're likely to list in 2016, early-

Range of suggested list on our property has gone from about $450 - 500k; all of which is appreciably more than we paid. 3bed/2ba, middle of the road condition wise with a larger lot.

I can say with confidence: the DC housing market is pretty ridiculous and Woodridge is on the verge; if we didnt have a reason (new baby) to be leaving, we'd be holding out a bit longer. As Rhode Island Ave improves, Hyattsville improves, and Brookland gets more expensive - Woodridge is only going to escape the "middle of the road" price-point quickly. (personal opinion).

Wish it made sense for us to stay, but it's not in the cards.
May I ask why a 3bed/2bath wouldn't work for you? Is this your first baby, or do you already have other children, and the house will now be too small? Where areas are you looking at to move to? Thanks...
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Old 10-14-2015, 08:06 AM
 
16 posts, read 32,421 times
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Quote:
Originally Posted by No2Monsanto View Post
May I ask why a 3bed/2bath wouldn't work for you? Is this your first baby, or do you already have other children, and the house will now be too small? Where areas are you looking at to move to? Thanks...
Sure; it's not so much the size of the home that's our primary factor - though.

But my wife will not be returning to work (income cut), she will no longer be working in DC (and I telework 60-80%), and the neighborhood is still in transition (schools are a question mark, some crime concerns - although all of this is trending the right way)

Basically: we can move to a lower cost of living suburb/exurb with a minimum of impact to us, reap the benefits of the increase in housing prices locally in the process, and have a relatively minimal impact on our daily lives otherwise.

It's largely a mathematical decision though; if we didnt just make a family decision to cut income and didn't just have a baby - we'd be looking to stick it out and watch the area progress. It's absolutely headed the right way; Zekes, Good Food Market, Nido, Provost, The Public Option - all new shops on Rhode Island Ave since we moved in, etc)


edit: To respond to where we're looking - we may actually downsize slightly to get a newer property and/or in better shape. We're looking at the further out exurbs - Frederick, Fredericksburg, Leesburg, etc - anything with a MARC/VRE/Commuter Bus is an option as Tuesdays are the only day I have a true obligation to be in the office. This affords us a ton of flexibility. We'll be doing a short term lease while we feel out whichever location we ultimately decide on to make sure it's a good fit and feel out the locality a bit more, all while we shop for a new property.
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Old 10-14-2015, 12:32 PM
 
Location: North Carolina for now....ATL soon.
1,233 posts, read 1,150,236 times
Reputation: 1308
Quote:
Originally Posted by walked View Post
Sure; it's not so much the size of the home that's our primary factor - though.

But my wife will not be returning to work (income cut), she will no longer be working in DC (and I telework 60-80%), and the neighborhood is still in transition (schools are a question mark, some crime concerns - although all of this is trending the right way)

Basically: we can move to a lower cost of living suburb/exurb with a minimum of impact to us, reap the benefits of the increase in housing prices locally in the process, and have a relatively minimal impact on our daily lives otherwise.

It's largely a mathematical decision though; if we didnt just make a family decision to cut income and didn't just have a baby - we'd be looking to stick it out and watch the area progress. It's absolutely headed the right way; Zekes, Good Food Market, Nido, Provost, The Public Option - all new shops on Rhode Island Ave since we moved in, etc)


edit: To respond to where we're looking - we may actually downsize slightly to get a newer property and/or in better shape. We're looking at the further out exurbs - Frederick, Fredericksburg, Leesburg, etc - anything with a MARC/VRE/Commuter Bus is an option as Tuesdays are the only day I have a true obligation to be in the office. This affords us a ton of flexibility. We'll be doing a short term lease while we feel out whichever location we ultimately decide on to make sure it's a good fit and feel out the locality a bit more, all while we shop for a new property.
Oh, okay, I see. It makes sense. Unfortunately my friend isn't able to leave the District due to her job, which is limiting her a bit; although she says she HATES the idea of commuting in. Well....good luck!
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Old 10-19-2015, 11:58 PM
 
1,641 posts, read 2,454,187 times
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Quote:
Originally Posted by No2Monsanto View Post
Hi all,

I'm from Atlanta, but have been helping a childhood friend look for a new home via internet listings, and making phone calls to realtors for her; she's a single mom and quite busy.

I know in general that DC is a large metropolis, and of course, with all the conveniences, there will be pricey homes, but I don't think I was prepared for what I've seen. I mean, where do I start? First off, can anyone explain the residential home esthetic to me? Everything in DC proper looks VERY OLD. Like, almost run down. Even in what's considered a "nice area." I'm just not sure what I was expecting exactly. I've been to DC to visit her a few times, but I must have forgotten the landscape. Even when I go to NYC, they're tearing down entire buildings to put up brand new, luxury apartment buildings. I just fail to see more new real estate in DC. Maybe it's a space issue, I'm not sure. Then again, I'm used to Atlanta, where we have 5x the space of DC, and every time I turn around some big time developer is throwing some new, swanky, hip apartment building or condos up. Heck, The Palms hotel and casino just put in a bid to build a new casino downtown. But I know up north is more dense, with less space so I guess that's the difference.

Why aren't developers coming into neighborhoods in DC and totally gentrifying a whole neighborhood, instead of buying 2 or 3 houses on the block, which leaves you with old and new mixed?? Then once they do buy one, they renovate it and flip it for an ASTRONOMICAL, RIDICULOUS price! I'm so confused. I just don't know how the average person with a family affords to buy there.

I suggested to my friend that maybe she should just buy a fixer-upper, and renovate it to her liking; then maybe she can save some money. Well, first of all, when she DOES find a fixer-upper in a fairly good community, she's competing with investors who have cash on hand, and will always win if the property comes to a bidding war. And let me just say: At some point, they all seem to get that point!! I'm so serious right now. Like, two days ago, I called her and told her to text her real estate agent STAT on a property that was in her desire area, and in her price range. By the time the agent called about the property and got back to her, the status had changed to PENDING!! What?! Wow, it's red hot up there in DC, clearly.

Anywho, I was just wondering if anyone has any suggestions on how to better navigate this process. She's an attorney and makes $130k per year, and her budget is $425K. She's been approved for an FHA loan, and wants 3 bdrm and 1.5 to 2 baths with a basement and small yard (she has twin boys). Her target areas are these:

Michigan Park
North Michigan Park
Riggs Park-Ft. Totten
Ft. Lincoln
Atlas
Woodridge
Queens Chapel
Brookland (In her price range, even the fixers are over $400k)
Trinidad (MAYBE. As she said this is "up and coming.")

If there are any other nice, safe areas that would fit into this budget that you guys know of in DC proper, I really appreciate it in advance. She's is totally against moving out to Virginia, because she said the traffic is a NIGHTMARE! And according to her, DC has better schools than Maryland, so that's out. Thanks!
But, how much did she make in ATL, or anywhere near ATL? Just because your car has 600hp don't mean it's gonna go fast, if it's heavy.

Also, who says DC proper? I don't understand when people say "proper" when they say about the anything. That is the wrong term, and it should never be used in describing a city, period.

This is what I thought initially:

1.) It's like they're asking for something that nobody will tell you about
2.) It's like asking for a S550 at a Camry price.
3.) DC is a real city, and you really do have to read everything on this forum before you decide to move here.
4.) Day care cost more than most people make in ATL, even executives, here.

This is what I thought afterwards:

1.) What about the school for the kid?
2.) Traffic is worst here than DC, so either live in the thick of DC or live far away, and take a train. The commute time is the same from 30 miles away to 8 miles in the morning, depending on where you live, due to the excellent public transportation here.
3.) Budget for the child care, and actually think about how much everything costs here first. Although the grocery tend to be cheaper there, the meat is more expensive in ATL, and other small items might be more expensive here.
4.) Think about the tax. Car tax and your income tax. DC is more expensive on personal income tax than VA or MD. If you pay $3000 in VA, you'll just almost double that (tell me if I'm wrong) in DC.

And finally, if you can make it in ATL, I wouldn't come up here. It's wonderful living there, people are nice and polite, and it feels like home. DC tend to just skin that part of humanity away with a smile.

Last edited by Plokivos; 10-20-2015 at 12:11 AM..
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