Comments on: It’s Hard Out Here For A…

By: NoVA Resident

NoVA Resident — Fri, 06 Mar 2009 18:00:31 +0000

And you’ve added so much value to this site with your piercing analysis…

By: Anon

Anon — Mon, 12 Jan 2009 22:59:56 +0000

It’s unfortunate for the rest of the world that you decided to spend the past year becoming an even bigger a**hole than you already were. Then again, it’s easy to show your true colors when you can safely hide behind the cloak of the Internet.

By: NoVA Resident

NoVA Resident — Mon, 12 Jan 2009 20:51:14 +0000

I’m so glad these tarts originally hired by Redfin have stopped blogging. Like realtors, they have zero economic training and should not be providing any commentary on real estate.

By: Eric

Eric — Wed, 30 Jan 2008 16:36:27 +0000

I’m looking in Fairfax but Loudoun County would also be interesting to see comparisons.

By: Kira

Kira — Tue, 29 Jan 2008 00:13:25 +0000

Hi Eric,

I cover Loudoun County, so my post would be restricted to areas in Loudoun. Are you looking in Loudoun, or elsewhere in NoVA?

And yes, I agree that it can be hard to get a lot of bang for your buck anywhere in NoVA!

By: Eric

Eric — Mon, 28 Jan 2008 20:46:32 +0000

That would be great! “What do you get for the Money” in NoVa…not much! Older single family detached, townhomes, new condos, and some new constructions all all mixed in together in the same locations and price ranges, and it’s difficult to determine what is the best value.

By: kira mayrides

kira mayrides — Fri, 25 Jan 2008 20:07:07 +0000

Eric,

I love that idea about doing a “What You Get for the Money” type of post – thank you for suggesting it! If you let me know (even generally) where you’re looking, I’ll be happy to incorporate as much of that as I can into the post. I’ve got a post of price reductions going up later today, but I think I could definitely do something like what you’re suggesting next week.

Thanks!
Kira

By: NoVA Resident

NoVA Resident — Fri, 25 Jan 2008 16:11:09 +0000

The Dow Jones (probably the poorest performing index) over the last five years has returned 80%. Factor in compounding and dividend reinvestment, you could have easily doubled your money in the last five years with moderate portfolio risk.

By: NoVA Resident

NoVA Resident — Fri, 25 Jan 2008 16:05:46 +0000

Eric – try following your thought-process through to its logical end. If lenders require 20% down and home prices plummet (or return to normal levels), then what do you think happens to that magic 20% number? It goes down! 20% is a percentage, not a nominal figure.

Also, why are you discussing trade-offs when no one else is? There’s nothing wrong with renting and doing all of the things you mention. There’s also nothing wrong with doing all of those things and saving money for a house down payment. I’ve done both. No one is talking about one-size fits all. What we’re discussing are time-tested, logical approaches to wealth management and responsible personal finance. Committing yourself to a $500K mortgage without having shown the discipline to save a modest amount of money ($100K) is a high probability method for trouble. The median income in the DC area is not low. You can save $100K in less than ten years making only $50K a year. Not sure how? There are numerous fixed-fee financial advisors in the region.

No one is lambasting your personal choices. If you bought a house with less than 20% down, more power to you. It doesn’t change the fact that lenders regularly making those types of loans are doing a disservice to their shareholders with poor underwriting standards.

By: Eric

Eric — Fri, 25 Jan 2008 15:04:14 +0000

Kira – What about a blog comparing single family detached to townhomes? I’m finding some single family homes with 1/3 acre lots falling into the same price range as the townhomes that I’m looking at. Which do I choose and what factors are important to differentiate between the two?