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(Washington Post)   Buyers' real estate agents in hot DC market resort to stalking, doxxing, pre-emptive strikes   (washingtonpost.com) divider line 31
    More: Stupid, District of Columbia  
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2076 clicks; posted to Business » on 03 Mar 2013 at 8:52 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-03-03 08:58:53 AM
"During the past year, would-be buyers eager to take advantage of nearly record low interest rates have flooded the local real estate market. But the growing demand, coupled with historically low inventories, has pushed the price of the few houses that are on the market out of their reach"

Bubbly bubbly. What could possibly go wrong?
 
2013-03-03 09:18:28 AM
My house in Burke,VA sold after 6 days on the market in 2012.  For a profit...

I was pretty happy.
 
2013-03-03 11:27:47 AM
I'm pleased that the DC metro area is flourishing. Because even the thickest of America's low information voters (and Farkers) know the basic premise of The Hunger Games.
 
2013-03-03 12:06:45 PM
and he has the owners sign a form that states that if a sale occurs, the sellers will pay a specific percentage of the sales price for his commission.

Yeah, fark that.  If the buyers are itching so badly to buy my house that they've instructed the realtor to stalk homes aren't currently on the market, they can pay the sales commission themselves.
 
2013-03-03 12:09:01 PM
First World Problems
White People Problems

K Street Problems
 
2013-03-03 12:38:15 PM
So the story on the first page about how the sequestration would hit DC first is not right?
 
2013-03-03 01:59:10 PM

HempHead: So the story on the first page about how the sequestration would hit DC first is not right?


planning ahead? what country do you think this is?
 
2013-03-03 03:05:00 PM

DigitalCoffee: First World Problems
White People Problems
K Street Problems


No kidding. These are high powered lawyers and lobbyists folks, not senior federal employees taking home a measly hundred grand. They will never be hurting for cash.

Goes something like this: "But I want to buy a corner mansion in Georgetown, not some teardown in the Palisades! What do you mean I can't have a luxurious house two blocks off M St unless somebody is selling one. Do they know who I am?"
 
2013-03-03 03:23:53 PM
i.imgur.com

Fark you, DC area. It's even unaffordable in the streetcar suburbs.
 
2013-03-03 04:05:22 PM

Tax Boy: Fark you, DC area. It's even unaffordable in the streetcar suburbs.


I just moved here from St. Louis (new job) and I can't sell my place there while rent here is exorbitant. I'm pretty bitter about everything financial at the moment. Wife and I went to school, got decent jobs, bought a house - everything a young couple is supposed to do. And for our troubles we lost all our first decade's wealth.
 
2013-03-03 04:20:25 PM
It would appear that DC is not suffering the same economic malaise as most of the rest of the country.

Golly, I wonder why that is.

Couldn't possibly be DC has been sucking the wealth out of the rest of America, regardless of political party, and redistributing it to their corrupt buddies in lobbying, lawyering, and national defense?
 
2013-03-03 04:34:37 PM

Girion47: My house in Burke,VA sold after 6 days on the market in 2012.  For a profit...

I was pretty happy.


Nice that you were able to sell your house, but right now all of these cheap houses are being snatched up by investors, finishing the last stage of the "steal all of the country's wealth" game they have been playing for the last ten years. Hard to be too happy about that.
 
2013-03-03 04:37:04 PM

HempHead: So the story on the first page about how the sequestration would hit DC first is not right?


The people buying all the houses are not the people who are going to be burned by sequestration. Also, this is happening in places other than DC too.
 
2013-03-03 04:41:00 PM
For people not in DC rent here runs about 2,000-3,000 for a nice one bedroom 650-900 square feet. A studio apartment goes for around 1600.   A nice rowhouse  in the district will go between 1-4 million depending on location and size etc.

This is why you have the few congressmen who aren't already millionaires sleeping in their office and showering at the capital gym. It is cheaper to fly back to their home state every week than rent in the district.
 
2013-03-03 05:54:28 PM

Carth: For people not in DC rent here runs about 2,000-3,000 for a nice one bedroom 650-900 square feet. A studio apartment goes for around 1600.   A nice rowhouse  in the district will go between 1-4 million depending on location and size etc.

This is why you have the few congressmen who aren't already millionaires sleeping in their office and showering at the capital gym. It is cheaper to fly back to their home state every week than rent in the district.


I pay $750 for a room in a townhouse in a cheaper neighborhood. Something like 12x14, but I have a private entrance and bathroom, and there are common areas in the house that I have access too as well, including a nicely appointed kitchen.

It's one of the most insane real estate markets in the country. I'm paying as much for a room as it would cost me to get a mortgage on an actual house in a mid-sized city. And thankful to find something that cheap.
 
2013-03-03 05:58:13 PM

cptjeff: Carth: For people not in DC rent here runs about 2,000-3,000 for a nice one bedroom 650-900 square feet. A studio apartment goes for around 1600.   A nice rowhouse  in the district will go between 1-4 million depending on location and size etc.

This is why you have the few congressmen who aren't already millionaires sleeping in their office and showering at the capital gym. It is cheaper to fly back to their home state every week than rent in the district.

I pay $750 for a room in a townhouse in a cheaper neighborhood. Something like 12x14, but I have a private entrance and bathroom, and there are common areas in the house that I have access too as well, including a nicely appointed kitchen.

It's one of the most insane real estate markets in the country. I'm paying as much for a room as it would cost me to get a mortgage on an actual house in a mid-sized city. And thankful to find something that cheap.


It really is insane. We tried finding a place with a dog and ending up having to buy because there was nothing decent for rent.
 
2013-03-03 07:37:07 PM
Meanwhile I can get a nice 3 bedroom 2 bath in Columbus Ohio for 160,000 and have a wealth of options in the tech sector, which is my field.
 
2013-03-03 07:39:51 PM

Generation_D: Couldn't possibly be DC has been sucking the wealth out of the rest of America, regardless of political party, and redistributing it to their corrupt buddies in lobbying, lawyering, and national defense?


Many places were less affected by the real estate bubble. You see this happen in places like college towns and towns with a large military presence. In places where the economy is consolidated into one or two employers like that, the market is generally more stable or competitive than the rest of the country unless something happens to those major employers. It has nothing to do with corruption.

My wife is from Champaign, IL. Unless something happens to the hospital or the university, that town is going to be fine.

With so much of DC revolving around relatively stable government jobs, the market just hasn't been affected as much and didn't experience the bust nearly has hard as other areas did. It sucks for those of us looking to buy a place in DC right now. Things don't stay on the market long.

For the opposite of this see Detroit and the auto industry.
 
2013-03-03 08:42:14 PM
I've turned down a couple of jobs in DC because of housing over the years.  I really don't want to commute from West Virginia.
 
2013-03-03 10:06:15 PM

Carth: For people not in DC rent here runs about 2,000-3,000 for a nice one bedroom 650-900 square feet. A studio apartment goes for around 1600.   A nice rowhouse  in the district will go between 1-4 million depending on location and size etc.

This is why you have the few congressmen who aren't already millionaires sleeping in their office and showering at the capital gym. It is cheaper to fly back to their home state every week than rent in the district.


Living in a major city can really distort your view of housing prices.  In NYC a $2000-$3000 1 BR is probably 300 sq ft and in not in a desirable neighborhood (not dangerous, just poor subway access).  You're looking at closer to $4,000 at least for a really nice 1 BR and up to $8,000 for the trendy neighborhoods.
 
2013-03-03 10:23:45 PM

Farnn: Carth: For people not in DC rent here runs about 2,000-3,000 for a nice one bedroom 650-900 square feet. A studio apartment goes for around 1600.   A nice rowhouse  in the district will go between 1-4 million depending on location and size etc.

This is why you have the few congressmen who aren't already millionaires sleeping in their office and showering at the capital gym. It is cheaper to fly back to their home state every week than rent in the district.

Living in a major city can really distort your view of housing prices.  In NYC a $2000-$3000 1 BR is probably 300 sq ft and in not in a desirable neighborhood (not dangerous, just poor subway access).  You're looking at closer to $4,000 at least for a really nice 1 BR and up to $8,000 for the trendy neighborhoods.


That is true but NYC subway is far better than DC public transportation. I lived in Brooklyn for $1700 a month in a 550sq within a 10 minute walk to the metro. Sure I had a 40 minute metro ride everyday but it was better than DC where you have to take a bus to the metro or drive if you want affordable housing. My biggest problem in NYC was finding a place to live. In DC it is affording a place to live.
 
2013-03-04 12:21:29 AM
Bing's instant search results have certainly become much more accurate.

i.imgur.com
 
2013-03-04 01:00:35 AM
...And yet Zillow's "Zestimate" for my house is going down, down down...
 
2013-03-04 01:09:22 AM
In DC, I've found that you've got to make some sacrifices if you want to afford rent. If you want to live in a convenient neighborhood you're going to have to give up space, of course. If you want space you're going to have to live far out. If you want to really save money, don't live within a mile of a metro station. You'll have to drive and maybe pay monthly for a garage. But if you can save more than $1000-1500/mo in rent by spending $250/mo on a garage, then it's worth it. And when you figure that you were probably spending over $150/mo on the metro, then it all works out. And riding the metro is depressing anyway.
 
2013-03-04 07:26:57 AM
Too many realtors, too few muggings.
The housing market up there is irrational.
Got a job in Springfield, Va.
Rented a two-bedroom condo close to work and metro.
Owner sold it out from under me because I got outbid to buy, had to move.
Moved to Culpeper, (Culpeeper!), 62 miles away, and rented a townhouse.
Commuted daily for a year.
Was told the townhouse was being sold, called to make offer, never heard back.
Moved to rental apartment in Chantilly, 20 minutes from work without traffic, one hour with traffic, two hours on Friday afternoons.
There was always traffic.
Lease was up in that place, stored my stuff and quit that farking job.
Moved away from Nova and all that nonsense.

//Never again.
///Good riddance, Orcs.
 
2013-03-04 08:36:12 AM

Swoop1809


Meanwhile I can get a nice 3 bedroom 2 bath in Columbus Ohio for 160,000 and have a wealth of options in the tech sector, which is my field.


But then you're stuck in Columbus, Ohio. That hardly seems like an advantage.
 
2013-03-04 08:55:58 AM

HotIgneous Intruder: Too many realtors, too few muggings.
The housing market up there is irrational.
Got a job in Springfield, Va.
Rented a two-bedroom condo close to work and metro.
Owner sold it out from under me because I got outbid to buy, had to move.
Moved to Culpeper, (Culpeeper!), 62 miles away, and rented a townhouse.
Commuted daily for a year.
Was told the townhouse was being sold, called to make offer, never heard back.
Moved to rental apartment in Chantilly, 20 minutes from work without traffic, one hour with traffic, two hours on Friday afternoons.
There was always traffic.
Lease was up in that place, stored my stuff and quit that farking job.
Moved away from Nova and all that nonsense.

//Never again.
///Good riddance, Orcs.


I feel the same way about the place.  I lived in NoVA for 5 years, I'll never live or work there again, it's a hellhole...and mostly because everyone there is the most self entitled asshole you could ever hope to meet.

seriously...fark NoVA
 
2013-03-04 10:03:20 AM
In 2010 we bought a 3/2 near a metro in NE DC for a decent price. I got orders overseas and rented the house out, since it seemed like a good investment property to hold on to. Then the renters stopped paying. This should turn into a fun situation very soon. So, if anyone is looking for some housing in the coming months let me know.
 
2013-03-04 10:10:06 AM

Girion47: HotIgneous Intruder: Too many realtors, too few muggings.
The housing market up there is irrational.
Got a job in Springfield, Va.
Rented a two-bedroom condo close to work and metro.
Owner sold it out from under me because I got outbid to buy, had to move.
Moved to Culpeper, (Culpeeper!), 62 miles away, and rented a townhouse.
Commuted daily for a year.
Was told the townhouse was being sold, called to make offer, never heard back.
Moved to rental apartment in Chantilly, 20 minutes from work without traffic, one hour with traffic, two hours on Friday afternoons.
There was always traffic.
Lease was up in that place, stored my stuff and quit that farking job.
Moved away from Nova and all that nonsense.

//Never again.
///Good riddance, Orcs.

I feel the same way about the place.  I lived in NoVA for 5 years, I'll never live or work there again, it's a hellhole...and mostly because everyone there is the most self entitled asshole you could ever hope to meet.

seriously...fark NoVA


Damn that sucks.  Lived in NoVA and worked in MG county, so the commute was horrendous (Too dependent on one bridge).  Later moved into Montgomery Co.  Sure the cost of living is worse but I call it my sanity tax since I only have a 10 minute commute now.  Plus moving to a single family from a transient townhouse complex means I have neighbors who actually aren't a-holes.

The sequester will only make things worse. The cuts are going to hit the contractors and some civil servants (i.e. those that do the actual work around here), while the appointees, lobbyists, think tank "experts", and other rent seekers won't see any impact at all.
 
2013-03-04 10:26:49 AM
For a family: Metro DC is a great place to live if you can get a job in Loudoun, Frederick, western Fairfax, or upper/middle Montgomery Counties.

Nice salaries, a reasonable trip to cultural amenities, (relatively) affordable new houses, beautiful historic areas in Leesburg/Frederick that don't cost an arm and a leg and don't have terrible public schools if you want to go that route, rural-ish areas in western Loudoun, western Montgomery, Great Falls and Potomac ...

If you have to go in further than Rockville, Silver Spring, or Tysons, you'll either be commuting for 90 minutes, paying $800k for a house that hasn't been touched since the Kennedy Administration, living in an 800 square foot condo, or living in a terrible school district/terrible area.

For the non-childed: there's plenty of areas that don't have the cachet of Georgetown/North Arlington/Bethesda from where you can enjoy things. SW Waterfront, Columbia Heights, Falls Church, Rockville, Hyattsville ... still near Metro but not paying the Clarenton/Bethesda rents.

I might not live there w/ kids unless I was prepared to bail at a moment's notice (w/ the exception of Falls Church and Rockville).
 
2013-03-04 05:53:10 PM

Englebert Slaptyback: Swoop1809

Meanwhile I can get a nice 3 bedroom 2 bath in Columbus Ohio for 160,000 and have a wealth of options in the tech sector, which is my field.


But then you're stuck in Columbus, Ohio. That hardly seems like an advantage.


Columbus is a wonderful place to live, there is just absolutely no reason to ever come visit.
 
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