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OT: DC housing market mania - advice?
Posted by JJ [Email] (more from JJ) on Sun, 17 Apr 2005 05:00:34
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I need some advice. I have a permanent change of station this summer that will move me and my family from Europe to the DC area this summer. My problem is that the DC real estate market is insane. I'll be there three to five years, hopefully, and would prefer to buy over renting, but can't get over the feeling that I'd be buying into an incredibly frothy market at the bottom of the interest-rate cycle. $350K is about as high as I can go on my income, but that doesn't get you much in the current market - a not too flashy three-bedroom SFH in the least desirable surrounding county. Renting is no road to riches, but right now I can rent the equivalent of a $450K house in a better area with better schools and less crime for the same or less that I would be paying on a mortgage for even a $315K house. Renting has it's own hurdles, of course - I've got kids and pets. But nothing makes sense in the DC market right now. Any advice out there? Anyone facing a similar quandry? Oh, and by the way, I've been warned to expect that if I really want a house I may have to pony up $10K-$15K over asking price. Incredible.
JJ
2003 9-3 ss
posted by 84.162.76...
Posts in this Thread:
- OT: DC housing market mania - advice?, JJ, Sun, 17 Apr 2005 05:00:34 <-- Viewing This Message
- Thanks, I think, JJ, Tue, 19 Apr 2005 13:15:38
- Re: Thanks, I think, rob , Tue, 19 Apr 2005 16:46:06
- Bowie, Rafe, Tue, 19 Apr 2005 14:07:41
- Crofton, jeff, Tue, 19 Apr 2005 14:25:48
- Make more in real estate than your day job...., Mike Lynch , Mon, 18 Apr 2005 17:15:03
- Re: OT: DC housing market mania - advice?, Bill in VA, Mon, 18 Apr 2005 15:21:34
- Re: OT: DC housing market mania - advice?, I485 Heel, Mon, 18 Apr 2005 14:43:52
- What area of DC? Baltimore/Washington or NVA?, ckpaden, Sun, 17 Apr 2005 19:57:57
- the DC area is really big..., jeff, Sun, 17 Apr 2005 18:20:23
- Re: OT: DC housing market mania - advice?, Rafe, Sun, 17 Apr 2005 18:13:10
- Re: OT: DC housing market mania - advice?, Posidon, Sun, 17 Apr 2005 16:30:22
- Re: OT: DC housing market mania - advice?, I80N I15W, Sun, 17 Apr 2005 10:51:28
- Re: OT: DC housing market mania - advice?, DT, Sun, 17 Apr 2005 07:29:30
- Re: OT: DC housing market mania - advice?, rob 94 cse, Sun, 17 Apr 2005 06:53:11
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