We found a new place to dwell . . .

Miscellaneous and Personal Stuff I Must Share
1

. . . no, not the Heartbreak Hotel, although anyone who read my recent Pit thread might think so.

As some Dopers know, Peta Tzunami and I were in the house-buying market recently. We were pre-approved for a mortgage and were actively shopping. Well, after a few months of shopping, we decided, disappointedly, that now was not the time for us to buy. The housing market in the DC metro area, and in Northern VA especially, is outrageous, to say the least. A modest 2-bedroom townhouse of 1,200 sq. ft. is going for upwards of $200,000, and that’s well outside the Beltway. Inside the Beltway, $350,000 is not unheard of for a house that size.

Our biggest concern had been getting a good amount of liveable square footage for cost, and reducing our commuting times. But we just couldn’t find what we wanted in an affordable price range that suited all our needs and fulfilled some of our wants. So, we decided to put off buying, squirrel away more money, and further reduce our debt-to-income ratio so we can get a better mortgage deal when we do decide to try again.

In the meantime, we could not continue to live in 680 sq. ft., 10 miles outside the Beltway. So, we have been doing apartment shopping. Yesterday, we applied for and were accepted for an apartment out in Fairfax!

It’s a 2-bedroom, 2-bath apartment, around 1,000 sq. ft., with a washer/dryer in suite, a wood-burning fireplace, separate living/dining rooms, and kitchen w/breakfast bar. The complex is new, less than a year old, off of Government Center Parkway in Fairfax. Amenities include a pool w/two whirlpools, and a 24-hour fitness center with racquetball court. It’s about ten minutes from Peta’s office, which means only a little less than that to the Vienna Metro station. My office is on the Courthouse stop, which means no changing Metro lines for me when I commute.

It’s going to be SUCH a load off to get out of that small apartment!!

2

Courthouse in Arlington? I go there somewhat frequently. Next time I go, I’ll give you a buzz and maybe we can meet for lunch!

Congrats on the new digs. 1,000 ft[sup]2[/sup] sounds like more than enough to hold a “Welcome to my new pad” dopefest. :wink:

3

That’s great news, Phil!

I still can’t believe house prices over there haven’t started to sag. Worldcom’s gone bust, AOL’s seriously hurting, and a host of other dotcoms and telecoms in the Tysons-Dulles corridor have gone belly-up or have laid off bunches of people. It may take another year, but it’s gotta turn into a buyer’s market sometime.

So enjoy your new place, and keep one eye on the housing market.

When’s moving day?

4

Well, hell.

I’ll sell you the palatial Chance estate (and I do mean estate) located um…just outside the beltway…yeah, that’s it! JUST outside the beltway.

And heck, I’ll do it for a mere $450,000.

C’mon… you know you want it. 3 buildings. 140 year old farm house, 2 acres of land. Privacy, Country setting. Peace and quiet.

How 'bout it?

5

Hmmm . . . it’s tempting, JC. Now if I can just get a job as a professional mountaineer . . . :smiley:

RT, our new lease will take effect 10/4, but as it happens, we’re actually going out of town that weekend, to Cleveland. So we’ll probably plan on doing the move-in that Monday or Tuesday. I’m pricing movers right now. I’m just hapy I’ll be able to get on the Metro at an end station and not have to change lines, so I can relax and read in the mornings!

Spritle: Party, you say . . . ? Count on it! Lunch would be great – I’m literally at Courthouse Plaza, in 2300 Clarendon. From my desk, I have a great view of . . . well, the apartment building on the other side of the plaza. But still.

6

:eek Man housing in other parts of the states is ungodly! A friend lives in Boulder, CO and she tells me that a 2 bdrm condo there runs over 200K as well. Having grown up and lived in Texas where housing costs are MUCH lower, this just sounds like robbery to me. And to hear such calm acceptance of what I think is outrageous is even more mind-boggling. I guess I should get out more.

I live in a 4/3/2 House in a pretty nice neighborhood(the local grocery store has a supervised playland for the kids and holds gourmet cooking classes on the weekend) with about 2400 sq ft. I’ve also got an office/library, pretty good size living room, seperate dining room, utility rooms with full zie washer/dryer, good size yard and storage building out back. Houses in my neighborhood go for 180-215k(and usually have pools and large decks out back as well as high wooden fences). I shudder to think what a house like mine would cost in your area.

Chalk up another damn good reason to use a cost of living comparison calculator before entering into salary negotiations for a job outside areas you’re familiar with.

Steven

7

::Thanking the Good Lord that she lives in Phoenix where homes are within the reach of normal human income::

8

I feel for you pldennison, but look at the situation from my point of view. I bought my one bedroom condo in Alexandria, VA about seven years ago, for $78,000.00. At the time, I thought I was going to be eating buttered noodles and sitting on milk crates for the rest of my life. Two years later, the real estate market dropped and units comparable to mine were selling for around $50,000.00. Now, my unit is valued at about $110,000.00. That’s good news for me because I want to take out a home equity loan and remodel my kitchen and bathrooms. My one regret is that I wasn’t able to buy any other units when they were selling at reduced prices. I’d be making a killing now.

Like RTFirefly, I’m wondering how long until this bubble bursts. How are Dopers in other parts of the country dealing with the real estate situation?

9

Until Saturday, I was in Atlanta where housing prices within reasonable driving distances are obscene, as are the rents. About a year ago, well before I decided to move I was thinking of buying and looking at prices, then realized there was not a chance in hell of me being able to afford a place that didn’t require an hour or two of driving each way.

Now I’m in Knoxville, still renting, but half of what I was a month ago - and if I find a reasonable paying job before too long, I may actually be able to think about owning within 3-4 years - but only if I think I may actually want to stay in one place for a while.

10

Damn, Phil, you have to wait until I move to Miami to move into my old neighborhood! Until July 4, I was at Summit Fair Lakes, which is on Monument at the Fairfax County Parkway. Sheesh!

11

I’m trying to figure out exactly what you’re complaining about. Until moving recently, I worked at a mortgage brokerage, and was thus very in touch with housing prices. Not long ago, I saw an appraisal of a house in the neighborhood I grew up in: $804,000. It was an nice house, but nothing spectacular. No land. (It’s in a large city.) Just a three-bedroom house. No wonder my parents moved when I was a kid! (To a less expensive area, but still a little bit pricier than what Phil’s describing.)

Yes, it’s depressing when you realize that the place you grew up in and consider home is impossibly out of your price range. I can’t afford $1000/month in rent for a one-bedroom apartment. (That figure would be on the average/low side.)

Ah well. I moved and hopefully things will be better here. I’m happy you found a place, Phil. I wish my apartment complex had all those amenities!