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I just did a quick search on redfin which pulls from MRIS, when somebody says around $400k, they are not talking about less than $400k, and maybe $425k tops. There is a couple of town houses in Nauk and Shirlington in there price range, but it is very uncommon for houses to sell less than $450k even in these areas. People underprice to inspire bidding wars.
I should note, I am very familiar with DT Silver Spring and the walkable areas there, and houses typically go for north of $500k these days there. Again, the downside of these areas is poorer transit options, which is what they will run into. Shirlington would meet it, but again, in a couple of months this will likely be out of their budget, Arlington has the fastest increasing real estate in the region, and many houses on the lower end see bidding wars. When only a small handful of houses comes up between the $350-$450 range, it is likely out of their budget. It's called a redfin search. You may have heard of your neighbors a few months ago...but that is the problem. Things change so quickly around here.
In terms of Alexandria, I am very familiar with it, and outside of Del Ray and Old Town, it's not at all walkable. The problem with both of these areas, is neither is in their budget. The areas that are in their budget are not at all walkable.
Again remember, half mile, amenity rich, and walkable what they are asking for is quite a great deal. Pay very close attention to what they are asking, it's not as easy as you think. They are very thin on options, because very few places fit this criteria in their budget. I went through this process a couple of years ago, and I had a higher budget than them.
Again this is really tricky in the DC area, if you were to say 1 mile to a walkable area, it might be more doable.
The few areas I know will still be in their budget six months from now are the art's district in Hyattesville, Mt. Rainer, Wheaton, and maybe Old Takoma Park, MD (if they get very lucky, and that is happening less). But Arlington by then will be completely out, and the walkable parts of Alexandria are already out.
Take a look at MLS #AR8758770. 3 bed, 2 bath, over 1500 sq ft, renewed, and a quarter mile from Shirlington. Been on the market 67 days so I doubt it's underpriced to start a bidding war. There's another townhome in that community for the same price that has also been on the market awhile.
In the city of Alexandria, look at AX9536170. This is walking distance to the King Street metro and is on the market at $375k.
I'm not suggesting there are going to be huge numbers of homes at their price range with all the amenities they are looking for, but they do exist currently in Arlington and Alexandria. If they are willing to go down to 2 bedrooms or up their budget to $450k, a lot more options open up.
The few areas I know will still be in their budget six months from now are the art's district in Hyattesville, Mt. Rainer, Wheaton, and maybe Old Takoma Park, MD (if they get very lucky, and that is happening less).
I can confirm that there are plenty of houses and townhouses in Wheaton (zip code 20902) within their price range. Some of them are going to be with half a mile of the restaurants at the Wheaton Triangle., but I can't check them all. Some of them are going to be in move-in condition, especially if the price is closer to $400K.
I used to live in the area and can confirm there are dozens of interesting ethnic restaurants.
Yes, you can find a number of places like this even inside the beltway - e.g. South Arlington, City of Alexandria, Silver Spring, or College Park. Outside the beltway, Reston or Leesburg would fit what you are looking for. The square footage you are looking at provides a lot of possibilities.
Not sure where in the walkable portion of Alexandria that you'll find any 3BR/2BA place for 400K. You'll be able to find a decent 1Bedroom/Bath condo for that price, or maybe a really tiny 2BR, but otherwise that price is taking you to the west end, which is not something I'd wish on anyone.
DistrictSonic, how about Reston these days for Surf? Our home has quadrupled or more since we lived there but it seems there are still more affordable homes and those walking/bike paths for miles and the town center and employment there or Tyson's without going all the way to DC. But I don't have time to look more closely at the immediate areas of the homes,fees, etc. I do know it would mostly be condos and TH.
Remember when you are looking for real property to purchase keep in mind that some jurisdictions are "towns" and collect their own taxes in addition to county taxes. Remember to add to your monthly mortgage payment, your real estate taxes. In Takoma Park, MD you are going to pay city taxes and Montgomery County taxes, so your tax burden will be higher than that of neighborhoods located in unincorporated areas. Hyattsville city, which includes the Arts District, is one thing. There are other parts of Prince George's County in proximity to the city of Hyattsville, that have a Hyattsville address but do not pay Hyattsville city taxes, only county taxes. You've really got to check on the tax burden as you consider what you can afford.
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