Need some info on the N. Virginia area
12-02-2004, 04:41 AM
#22
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Excellent information ... please keep em coming. Also, forgot to mention, prefer a single family home as we have a beagle and wife's hobby is gardening. 
12-02-2004, 05:50 AM
#23
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As much as I wouldn't want to live that far out, I do agree that Gainesville and Culpepper are 2 of the best places to invest right now. I have several co-workers who have seen 30-50% annual gains in home value recently.
- Jeremy (jnn4v)
- Jeremy (jnn4v)
12-03-2004, 12:05 PM
#24
I live in Manassas. You have you good areas and bad areas, but I think you'll get that everywhere. Finding a $450K with what you want is going to be an adventure. We have a 2 bedroom condo. It's worth $200k. Truthfully, it's not very big condo either. Gainesville area is probably going to be your best bet. Especially when they finish widing 66 to the exit. I work at the Pentagon and it takes me about 30-40 minutes, but I head out at about 5:00 in the morning. My girlfriend leaves for work during rush hour and it takes her about an hour to get to Tysons Corner. Leesburg isn't that bad either. It's growing very fast though.
12-03-2004, 01:07 PM
#25
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I think housing costs are outrageous! They're completely out of line not just in the Baltimore/Washington area, but everywhere else in this country. I believe the The housing market is the tech stocks of this decade.
People are spending 1/2 (or more) of their income on housing, it used to be 1/3. That's less money to put away for the kid's college education, less money for traveling and vacations, for cars, for all those other dreams you have. Not to mention the extra property tax you're paying because the tax is based on the home's cost, oh and insurance also goes up.
All it'll take is one catastrophic family emergency, like a lay-off, medical illness, or something like that before the home is foreclosed on. And I think that in the next couple of years you're going to see a lot of foreclosures.
A single person can't even afford to buy a house anymore, you have to be married and have two incomes to even think of making the mortgage payments on a house today.
I'd like to see the media do a station do a story on how the housing market is so ridiculous today.
As for me, I'll wait for the massive foreclosures that will soon occur. I might to be able to snap up a couple of houses for what only one is going for today.
Okay, I'm stepping down from my soapbox now. Good luck to you and your housing search.
Warren
People are spending 1/2 (or more) of their income on housing, it used to be 1/3. That's less money to put away for the kid's college education, less money for traveling and vacations, for cars, for all those other dreams you have. Not to mention the extra property tax you're paying because the tax is based on the home's cost, oh and insurance also goes up.
All it'll take is one catastrophic family emergency, like a lay-off, medical illness, or something like that before the home is foreclosed on. And I think that in the next couple of years you're going to see a lot of foreclosures.
A single person can't even afford to buy a house anymore, you have to be married and have two incomes to even think of making the mortgage payments on a house today.
I'd like to see the media do a station do a story on how the housing market is so ridiculous today.
As for me, I'll wait for the massive foreclosures that will soon occur. I might to be able to snap up a couple of houses for what only one is going for today.
Okay, I'm stepping down from my soapbox now. Good luck to you and your housing search.
Warren
12-04-2004, 07:35 AM
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I'm with Warren on this.
I can afford a nice house these days, but I'm still renting my hovel, because I don't want to lose 50-100k in an instant. I'm a recovering angeleno and I remember the southern california housing bust in the early 90s. Alot of people who bought in LA's equivalent of Prince William found themselves with negative equity, the banks got worthless houses (well, houses worth less than the debt they secure), and kablooey.... foreclosure city.
I hear alot of the same stuff now. "oh, this time it's different, the government is here and will always be hiring/stabalize the job market," every other person I meet is a real estate "developer" now trying to flip homes on pre-construction or buy ratted out crack houses in gentrifying neighborhoods (too late, everything's been "discovered," we have some mighty expensive crack houses in DC).
I may be forced to buy sooner than I'd like simply because I need a different place to live.... but everything tells me it's a toppy market.
I can afford a nice house these days, but I'm still renting my hovel, because I don't want to lose 50-100k in an instant. I'm a recovering angeleno and I remember the southern california housing bust in the early 90s. Alot of people who bought in LA's equivalent of Prince William found themselves with negative equity, the banks got worthless houses (well, houses worth less than the debt they secure), and kablooey.... foreclosure city.
I hear alot of the same stuff now. "oh, this time it's different, the government is here and will always be hiring/stabalize the job market," every other person I meet is a real estate "developer" now trying to flip homes on pre-construction or buy ratted out crack houses in gentrifying neighborhoods (too late, everything's been "discovered," we have some mighty expensive crack houses in DC).
I may be forced to buy sooner than I'd like simply because I need a different place to live.... but everything tells me it's a toppy market.
12-04-2004, 08:37 AM
#27
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To see what your money will buy I suggest looking at HomesDatabase for a sampling of properties available in specific DC areas. You really need to find the job first before you jump into a house though since commuting can be brutal in this area.
Mark
Edit:
You can still find reasonable housing out here in the Damascus area if you don't want a new house. my house was the last new single family house with land you'll ever see in that price range since the builders pay 200K+ for an acre now (two years old now and way over that in value).
for the people who think housing around here is going to crash soon there is still way more demand than houses in the under 500K market then supply an it will be that way for a long time. Even when interest rates were twice what they were now the DC area did not see drops it just went flat for a couple of years.
Mark
Edit:
You can still find reasonable housing out here in the Damascus area if you don't want a new house. my house was the last new single family house with land you'll ever see in that price range since the builders pay 200K+ for an acre now (two years old now and way over that in value).
for the people who think housing around here is going to crash soon there is still way more demand than houses in the under 500K market then supply an it will be that way for a long time. Even when interest rates were twice what they were now the DC area did not see drops it just went flat for a couple of years.
12-04-2004, 05:58 PM
#28
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I would have to say Reston is by far one of the best areas in Northern VA. Its more of a planned community.
This area, all the houses, even townhouses run at least 400k if you are near the beltway or near the metro rail. Reston has all the IT companies right at your doorstep and no more than 15 min away if you are in that field. Tysons Corner or McLean VA is a good area for Tech jobs but again its hella expensive to live there. Traffic is horrible in this area so prepare for the commute but Im sure ur used to it. Mannassas is another area that is less expensive, kinda country but cheaper. If you want cheaper houses you can try Ashburn VA to but that area is up and comming so might be just as expensive.
Most people that live here are not from here and come here for jobs just as yourself. Its a great area to live in and raise kids seeing as Fairfax County VA has some of the best schools in the country. Plan to drain your pockets when looking for homes around here because they sell easily and go fast. People will spend money to live here so prices keep going up and the population is growing out of proportion.
Alexandria and Arlington are more city like areas and lots of jobs there too. Very crowed areas but the houses are crazy out there. I went to look at a townhouse in Alexandria last year and it was right near the metro and off of the beltway. The going price for this "townhouse" was $350k and 3 levels. Arlington and Alexandria area isnt cheap seeing as the metro rail is all around those 2 areas. Good thing is if you dont like to drive you can usually get around pretty easy with public transportation. Hope this helps!
Steve
This area, all the houses, even townhouses run at least 400k if you are near the beltway or near the metro rail. Reston has all the IT companies right at your doorstep and no more than 15 min away if you are in that field. Tysons Corner or McLean VA is a good area for Tech jobs but again its hella expensive to live there. Traffic is horrible in this area so prepare for the commute but Im sure ur used to it. Mannassas is another area that is less expensive, kinda country but cheaper. If you want cheaper houses you can try Ashburn VA to but that area is up and comming so might be just as expensive.
Most people that live here are not from here and come here for jobs just as yourself. Its a great area to live in and raise kids seeing as Fairfax County VA has some of the best schools in the country. Plan to drain your pockets when looking for homes around here because they sell easily and go fast. People will spend money to live here so prices keep going up and the population is growing out of proportion.
Alexandria and Arlington are more city like areas and lots of jobs there too. Very crowed areas but the houses are crazy out there. I went to look at a townhouse in Alexandria last year and it was right near the metro and off of the beltway. The going price for this "townhouse" was $350k and 3 levels. Arlington and Alexandria area isnt cheap seeing as the metro rail is all around those 2 areas. Good thing is if you dont like to drive you can usually get around pretty easy with public transportation. Hope this helps!
Steve
12-04-2004, 06:54 PM
#29
Let me throw in my two cents if I may?
It depends on what is important too you? A single female co-worker of mine just spent $320K for a 720 Square Foot one bedroom condo in North Arlington. She did it for the "social city life".
The Fairfax County school system is considered to be one of the best in the country, therefore the reason for the high taxes, along with the high cost of living, as well as the high tech industries and highly educated work force here.
I live in the South West part of Fairfax County and drive ten miles to Manassas in Prince William County to save as much as thirty cents per gallon on 93 Octane gasoline.
However, the bottom line that balances everything out when considering where to live in the Washington DC Metro area is how much time do you want to spend commuting? Especially with you being from Rochester, it will DRIVE you crazy the first time we even get a snow flurry.
It depends on what is important too you? A single female co-worker of mine just spent $320K for a 720 Square Foot one bedroom condo in North Arlington. She did it for the "social city life".
The Fairfax County school system is considered to be one of the best in the country, therefore the reason for the high taxes, along with the high cost of living, as well as the high tech industries and highly educated work force here.
I live in the South West part of Fairfax County and drive ten miles to Manassas in Prince William County to save as much as thirty cents per gallon on 93 Octane gasoline.
However, the bottom line that balances everything out when considering where to live in the Washington DC Metro area is how much time do you want to spend commuting? Especially with you being from Rochester, it will DRIVE you crazy the first time we even get a snow flurry.
12-04-2004, 07:25 PM
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of course there's more demand for sub-500k houses than supply. that's because alot of these sub 500k houses are selling for 700-800k
and, absolutely no offense at all intended toward Damascus, it is a fine community and all that, but.... it's in DAMASCUS! That's like half way to kentucky!
Since all homes in this area are bubbleicious right now, there isn't really any great savings. If I had to choose, I'd pay more the house and not spend it, and my time, on a commute to work and to civilization.
Renting just makes more and more sense every day.....
and, absolutely no offense at all intended toward Damascus, it is a fine community and all that, but.... it's in DAMASCUS! That's like half way to kentucky!
Since all homes in this area are bubbleicious right now, there isn't really any great savings. If I had to choose, I'd pay more the house and not spend it, and my time, on a commute to work and to civilization.
Renting just makes more and more sense every day.....