Home Buying & Real Estate Thread

[nazdrowie]

I like the location and once people feel like it is safe enough to live prices will sky rocket, word to SE and NE DC.

iono about that fam, that is probably quite a ways off...

Anacostia and Congress Heights are getting substantial development because of their proximity to downtown and the new DHS hq going in, but development for the far eastern portions of the city is probably more than a few years off, could be wrong

 

[D StaXX]

What are some nice areas in ATL,Dallas,Houston to look up ?

I'm looking for a safe & diverse city. I'm looking to start settling down and having some kids. I just don't want to be out in the boonies where all you have is one mall to go shop & eat.

My budget if we were to make the move would be 200k but would like to stay lower than that because it would be big move.

Can't speak for ATL, but for th Dallas areas, anywhere in North Dallas will suit you.
Literally, anywhere. Frisco, Mckinney, Plano, Allen, Carrollton, etc are great places to raise families.
For Houston, look at Cypress, the Heights, the Woodlands, Katy, Memorial, River Oaks etc.

For 200k, you should be able to get a nice crib with a big backyard.

 

[HankHill]

What are some nice areas in ATL,Dallas,Houston to look up ?

I'm looking for a safe & diverse city. I'm looking to start settling down and having some kids. I just don't want to be out in the boonies where all you have is one mall to go shop & eat.

My budget if we were to make the move would be 200k but would like to stay lower than that because it would be big move.

Can't speak for ATL, but for th Dallas areas, anywhere in North Dallas will suit you.
Literally, anywhere. Frisco, Mckinney, Plano, Allen, Carrollton, etc are great places to raise families.
For Houston, look at Cypress, the Heights, the Woodlands, Katy, Memorial, River Oaks etc.

For 200k, you should be able to get a nice crib with a big backyard.

Is this for new constructions? Katy and Cypress you can find for that price, but they are also about 30-60mins away from the city depending on traffic. Great communities though.
Same for The Woodlands which is about 45mins to 1hr15min. There is no way you're getting anything that price in River Oaks or Memorial (new or old construction). Heights maybe, but you'd have to be further up past 610 for that.

crcballer55 Well from what I have seen so far the places that people want to live are in the 400K- 1M range here in the DMV. That is well out of my voice range. The townhouse is near the Addison road station in Capital Heights , MD .

I like the location and once people feel like it is safe enough to live prices will sky rocket, word to SE and NE DC.

http://mobile.ryanhomes.com/find-yo.../capitol-heights/the-park-at-addison-metroth/

Those have been there since 2006? I though there were recently built. I actually went into one of those houses last Dec.

Straight up, that area isn't appealing to anyone. Its hood, Crossland is a terrible school, and there's no amenities that people want outside of carryouts and barbershops. Not to mention the speed cameras on that road. The only selling point would be that its close to the metro station. I have family who used to live further down in Forestville/Suitland area and I went to school in District Heights when I was younger. Nothing has changed since for that area and I doubt there are any plans to redevelop it in the next 20 years. What you have to understand is the people who are being displaced due to gentrification in DC are moving into that area because its more affordable. It wont get touched until there is a need for building up the area.

You'd be better off looking in Largo or Lake Arbor

I like the location and once people feel like it is safe enough to live prices will sky rocket, word to SE and NE DC.

iono about that fam, that is probably quite a ways off...

Anacostia and Congress Heights are getting substantial development because of their proximity to downtown and the new DHS hq going in, but development for the far eastern portions of the city is probably more than a few years off, could be wrong

There is a lot of development going on off of Rhode Island Ave, continuing NW through Hyattsville.

 

[nazdrowie]

There is a lot of development going on off of Rhode Island Ave, continuing NW through Hyattsville.

but thats because those areas border NW (or well at least because they border areas that west of the Anacostia river)...the portions im talking about are in the WAY eastern portions of the city...its gonna take a long time before people start moving there

http://dc.urbanturf.com/articles/blog/the_east_of_the_river_development_rundown/9241

thats a good guide for what is planned for east of the river communities, still gonna take a long time for the eastern portions that border Md

 

[willie mcfly22]

I thought about moving to DFW area, I'm in Cali now. Houses were super attractive for the prices, but yo them property taxes are outrageous!! Plus I heard commuting into dallas was a nightmare...

 

[wr]

I thought about moving to DFW area, I'm in Cali now. Houses were super attractive for the prices, but yo them property taxes are outrageous!! Plus I heard commuting into dallas was a nightmare...

compared to cali traffic?

 

[willie mcfly22]

I thought about moving to DFW area, I'm in Cali now. Houses were super attractive for the prices, but yo them property taxes are outrageous!! Plus I heard commuting into dallas was a nightmare...

compared to cali traffic?

I'm in Nor Cal. I can't speak for SoCal but we know that's hell too. Most people where im at commute into the Bay Area and Bart service and AC Transit makes it a breeze...

 

[capital sb]

HankHill nope built in 06 that's what the consultant told me.

Lol that's considered a hood area ? It really doesn't seen bad to me. Also all of the stuff at those plaza on Pennsylvania ave right down the street doesn't seen too bad to be either. I'm only 22 and I have no kids , so I'm not thinking about schools. Guess I have a long speech I thought those would be a good buy.

What other areas have 2500sqf townhomes in the 250 - 320K range in the DMV area? With comparable specs? (2 car garage, open floor plan , 3bd 2.5th , all new appliances and furnishings)

 

[D StaXX]

Had no idea homes in Memorial or River Oaks were that much.

 

[throwback1718]

You guys think I can save 100 racks in 5 years? Making ~~ 55 per year to 75k in my 4th year on the job ?

 

[crcballer55]

You guys think I can save 100 racks in 5 years? Making ~~ 55 per year to 75k in my 4th year on the job ?

Depends what the cost of living is in your area and how frugally you're willing to live in order to achieve your goal.

If you're willing to live like you make $55k while you're making $75k, it shouldn't be too difficult.

I would recommend the first 1-2 years, you invest the amount you save so it can grow while you're saving. If you invest $20k/yr. it should add about another $10k to your total investment too.

 

[throwback1718]

I live in NYC. Reason I say 100 is because I'm trying to avoid PMI on a mortgage.

Most homes are around 500-600k and 20% of that is about 100-120k :x

I'd have to live very modestly to be able to save that amount

 

[nazdrowie]

@silkboi nope built in 06 that's what the consultant told me.

Lol that's considered a hood area ? It really doesn't seen bad to me. Also all of the stuff at those plaza on Pennsylvania ave right down the street doesn't seen too bad to be either. I'm only 22 and I have no kids , so I'm not thinking about schools. Guess I have a long speech I thought those would be a good buy.

What other areas have 2500sqf townhomes in the 250 - 320K range in the DMV area? With comparable specs? (2 car garage, open floor plan , 3bd 2.5th , all new appliances and furnishings)

whats hood? the far eastern portions of the city of VERY suburban/residential, have very few amenities like grocery stores, are not really close to the metro, and have limited bus access...thats what makes it unattractive to people, not because they are really bad areas...if im understanding the question...

silk mentioned hyattsville, if i stick it out in the area that is where ill probably buy or Congress Heights (though im a condo/co-op kind of fella)

 

[el presidente]

@silkboi nope built in 06 that's what the consultant told me.

Lol that's considered a hood area ? It really doesn't seen bad to me. Also all of the stuff at those plaza on Pennsylvania ave right down the street doesn't seen too bad to be either. I'm only 22 and I have no kids , so I'm not thinking about schools. Guess I have a long speech I thought those would be a good buy.

What other areas have 2500sqf townhomes in the 250 - 320K range in the DMV area? With comparable specs? (2 car garage, open floor plan , 3bd 2.5th , all new appliances and furnishings)

I'm not well versed in real estate, but I thought I would chime in and let you know that area you posted earlier (around Central) is pretty safe. Mostly single family homes, with an older population.

 

[capital sb]

whats hood? the far eastern portions of the city of VERY suburban/residential, have very few amenities like grocery stores, are not really close to the metro, and have limited bus access...thats what makes it unattractive to people, not because they are really bad areas...if im understanding the question...

silk mentioned hyattsville, if i stick it out in the area that is where ill probably buy or Congress Heights (though im a condo/co-op kind of fella)

The townhomes I am talking about are a block away from Addison metro station. 3-5 minutes away from Pennsylvania ave. There is a Giant, Planet Fitness , Chic Fil A , Wendy's , Marshals , Target, etc. Close to 295 & 495 . What amenities are people looking for?

The fact that there is 1 speed camera on the road doesn't make it a bad location to me either. Can't go anywhere in DC MD without there being a speed camera foreal.

I will look around more and post what I find. I'm really curious to where you can find something comparable that isn't in the boonies.

 

[dam itz lou]

Does anyone know a reliable site to see what houses sold for ? I'm looking on zillow,I checked off sold homes then I click on the listing and its for sale for 100k more.

 

[crcballer55]

Does anyone know a reliable site to see what houses sold for ? I'm looking on zillow,I checked off sold homes then I click on the listing and its for sale for 100k more.

Realtors have access to past sales in their MLS area.

Zillow has pretty much been a joke in the industry for many years now because of the wildly inaccurate data.

 

[703 hwy]

Lol I looked at those Ryan Homes and others in Capitol Heights, they are pretty tempting based on what's included but I don't think you'll be walking to the Metro . Also, considered the ones in Greenbelt, Charles County prices look good but too far out for me. Closing cost incentives and new construction. And yea just because some places are in DC don't expect the property value to jump overnight.

I'm holding out for the 2015 recession, is that still coming?

 

[crcballer55]

Lol I looked at those Ryan Homes and others in Capitol Heights, they are pretty tempting based on what's included but I don't think you'll be walking to the Metro

. Also, considered the ones in Greenbelt, Charles County prices look good but too far out for me. Closing cost incentives and new construction. And yea just because some places are in DC don't expect the property value to jump overnight.

I'm holding out for the 2015 recession, is that still coming?

I really hope not, but the housing market got white hot last year, then started sliding this year, and the stock market looks like it's over bought at this point too.

 

[willie mcfly22]

I'm hopin housing prices drop in 2015 lol

 

[703 hwy]

I notice a lot of newer condo's in DC have ridiculous condo fees like $500-$800 a month on top of a mortgage. Seems like a money grab to me.

 

[crcballer55]

I'm hopin housing prices drop in 2015 lol

It's possible. If there's not a significant economic downturn, interest rates are projected to increase. If that's the case, affordability at current prices will decline.

 

[bravelude]

 
It's possible. If there's not a significant economic downturn, interest rates are projected to increase. If that's the case, affordability at current prices will decline.

I would like to add that the economy today and economy 10-20 years ago to be different.  The stock market has been reaching new highs constantly at the tune of 'over bought', 'correction' being due.  Just today, another ALL TIME HIGH.  The FEDs have pledged to keep rates low, but it's QE program has ended.

The primary driver in the past few years were due primarily to interest rates, economic stimulus and incentives by the government.  But the concern now is if there is enough growth to continue.  There could be a retrace, but what some of you folks should pay attention to are the economic figures from the housing industry.  Permits, housing starts, existing home sales, Schiller Price index are all good economic indicators.  Of course, all MMA (major market areas) have their own behavior.  So you must understand that too!  What the Feds are looking forward to and hoping for is that the economy will be keep inflation in a positive trend.  With housing being a critical part of the economy, the Feds want to raise rates and see housing prices rise together!!  Then again, you think about what raising rates will do to 'debt' and 'interest' for not just individuals but for the 'gov't!!!

What people do not understand and it may be conceivably hard to grasp, is that rates rise in a bullish environment.

 

[crcballer55]

 

 
It's possible. If there's not a significant economic downturn, interest rates are projected to increase. If that's the case, affordability at current prices will decline.

I would like to add that the economy today and economy 10-20 years ago to be different.  The stock market has been reaching new highs constantly at the tune of 'over bought', 'correction' being due.  Just today, another ALL TIME HIGH.  The FEDs have pledged to keep rates low, but it's QE program has ended.

The primary driver in the past few years were due primarily to interest rates, economic stimulus and incentives by the government.  But the concern now is if there is enough growth to continue.  There could be a retrace, but what some of you folks should pay attention to are the economic figures from the housing industry.  Permits, housing starts, existing home sales, Schiller Price index are all good economic indicators.  Of course, all MMA (major market areas) have their own behavior.  So you must understand that too!  What the Feds are looking forward to and hoping for is that the economy will be keep inflation in a positive trend.  With housing being a critical part of the economy, the Feds want to raise rates and see housing prices rise together!!  Then again, you think about what raising rates will do to 'debt' and 'interest' for not just individuals but for the 'gov't!!!

What people do not understand and it may be conceivably hard to grasp, is that rates rise in a bullish environment.

Just to clarify... mortgage rates are based on the 10 year treasury note. Correct me if I'm wrong, but most of the decline in rates over the past 3-4 months has been to the flight to safety in light of turmoil overseas. Our treasuries are the reserve of the world, so the more demand there is, the less we need to pay to attract investors.

EDIT: Here's an interesting article I came across: If this drop in long-term interest rates has legs, look for mortgage rates to follow

 

[capital sb]

Lol I looked at those Ryan Homes and others in Capitol Heights, they are pretty tempting based on what's included but I don't think you'll be walking to the Metro

. Also, considered the ones in Greenbelt, Charles County prices look good but too far out for me. Closing cost incentives and new construction. And yea just because some places are in DC don't expect the property value to jump overnight.

I'm holding out for the 2015 recession, is that still coming?

Lol real live when I went over there I saw a white couple walking with their suitcases to the metro.

I immediately thought , oh it can't be that bad around here lol. From what you all are saying it seems like its a really bad area.

I'm torn on where to purchase around here. VA isn't really an option right now. I will be working in Annapolis Junction , MD thats too far of a commute.