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Gentrification, your neighborhood, and you

 
Old 01-10-2019, 06:25 AM
  #26  
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Default Re: Gentrification, your neighborhood, and you

Originally Posted by Mattb16teg View Post
buy smallest house in best neighborhood.
This is pretty much the philosophy I have with buying houses. We spent more and got way less when we purchased our house in CA but were in an awesome area. Once we moved out to PA, we did the same thing. If you want a giant, brand new house then this way doesn't typically work well, but I feel confident knowing that I am in a good area and home values are stable.
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Old 01-10-2019, 06:28 AM
  #27  
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Default Re: Gentrification, your neighborhood, and you

Originally Posted by moopmoop View Post
He's trying to cash in

Gentrification is bad after a certain point.
So was I...
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Old 01-10-2019, 06:31 AM
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Default Re: Gentrification, your neighborhood, and you

Originally Posted by BeeResp0nsible View Post
This is pretty much the philosophy I have with buying houses. We spent more and got way less when we purchased our house in CA but were in an awesome area. Once we moved out to PA, we did the same thing. If you want a giant, brand new house then this way doesn't typically work well, but I feel confident knowing that I am in a good area and home values are stable.
We didn't necessarily plan it this way but it worked in our favor, especially, I feel, after the work I put into the house already too.
a house 2 doors up is listed for 450 and one a street over is 465, they are about 300 sq ft larger but no where near as nice as our house.
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Old 01-10-2019, 06:36 AM
  #29  
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Default Re: Gentrification, your neighborhood, and you

Originally Posted by oneludesol View Post
So was I...
Don't worry, I find both equally morally abhorrent.

Well, yours is slightly worse, he has a family and bought the best house he could afford for his family. You're a rich dude who just bought a house in a shitty neighborhood Only to make money.
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Old 01-10-2019, 06:39 AM
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Default Re: Gentrification, your neighborhood, and you

Originally Posted by moopmoop View Post
Gentrification is bad after a certain point.
and why is that?

Gentrification IMO is typically only "bad" for poor people and renters.
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Old 01-10-2019, 06:40 AM
  #31  
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Default Re: Gentrification, your neighborhood, and you

Originally Posted by moopmoop View Post
Don't worry, I find both equally morally abhorrent.

Well, yours is slightly worse, he has a family and bought the best house he could afford for his family. You're a rich dude who just bought a house in a shitty neighborhood Only to make money.
*build houses in shitty neighborhoods. I never bought anyone's home, only vacant land. I build nice things in all but forgotten parts of town, does that weigh differently on the scale of morality?
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Old 01-10-2019, 06:45 AM
  #32  
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Default Re: Gentrification, your neighborhood, and you

Originally Posted by Ross View Post
Am I wrong to be excited here? This is a kind of development that I didn't think I would see for another 5-10 years. Is this little pocket of my town about to take off? Or is this just wishful thinking? How do you Property Dads judge these cycles? We have only been in the house like 15 months and are new to the "fun with home equity" game.
I think you should definitely be excited about the Metro. That's going to be massive for that area and will drive expansion/increase in real estate values. Look what it's done for the area around the Wiehle stop. Will Herndon become the new Vienna? Old homes being torn down and mega mansions being built instead? Not necessarily...main reason being Ashburn is a far nicer area and really isn't that much further away. They will have a Metro station before too long as well. Look at the area around the Greenway/LCP. Numerous expensive townhome complexes being built in anticipation of the Metro coming through. Also Herndon doesn't have a OneLoudoun/RTC equivalent (yet). I could see the shopping center where Kohls/Wendys is perhaps getting a makeover...as well as Worldgate getting a makeover once the Metro comes in.

Originally Posted by Ross View Post
Bauley did what you guys are saying, sort of. He moved way out, now he has his forever home and will never need to move.
My area is really starting to take off. "Moving out" these days really means moving to Purcellville, Round Hill, etc. South Riding and the surrounding areas are continuing to blow up and will only see more retail/activities coming in. ****, my townhouse appreciated almost 5% in the last six months alone. Not sure if Amazon or other factors are driving that kind of growth, but I'll take it.

Originally Posted by Rguy View Post
Ive known more than a few people who "moved way out" to get a nice big home, then realized that way out is actually awful. People dont want to come see you, everything takes 30 minutes to get to, your options for things are extremely limited. Just like a business, location is everything.
Having lived in Columbia, Germantown, Rockville, Merrifield, and Fairfax...I would take South Riding 10/10 times over any of those other places to raise my kids. I'm 10 minutes from Home Depot and Walmart, and 25 minutes from Ashburn/Manassas. No ragrets.
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Old 01-10-2019, 07:07 AM
  #33  
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Default Re: Gentrification, your neighborhood, and you

Originally Posted by BauleyCivic View Post
I think you should definitely be excited about the Metro. That's going to be massive for that area and will drive expansion/increase in real estate values. Look what it's done for the area around the Wiehle stop....My area is really starting to take off. "Moving out" these days really means moving to Purcellville, Round Hill, etc...
Yes! Metro will help for sure. Regarding Wiehle/Reston, the new townhouses in that area are starting in the low 800s. Wild! I took it one step further (I did look at places in Round Hill though) after selling my house in Chantilly and moved to Harpers Ferry.
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Old 01-10-2019, 07:15 AM
  #34  
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Originally Posted by Mattb16teg View Post
But that's Detroit where said dirt lot was probably worth $1, here in MD and VA, even the worst isn't the worst compared to the rest of the country.
So what? Either way if you can make the investment for a flip of a few hundred grand the only difference is the amount of capital it takes to do it. My point is Detroit had a ton of buying options in areas that gentrification was likely to happen. Even today there are areas that will likely be next. But it gets to a point where it actually begins to ruin the neighborhood. Only reason I didn't do it is I was only about 19 at the time and couldn't make the investment.

Originally Posted by moopmoop View Post
He's trying to cash in

Gentrification is bad after a certain point.
This.

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Old 01-10-2019, 07:17 AM
  #35  
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Default Re: Gentrification, your neighborhood, and you

Originally Posted by BauleyCivic View Post

Having lived in Columbia, Germantown, Rockville, Merrifield, and Fairfax...I would take South Riding 10/10 times over any of those other places to raise my kids. I'm 10 minutes from Home Depot and Walmart, and 25 minutes from Ashburn/Manassas. No ragrets.
As long as you're happy, thats all that matters. For me the most important things are being able to get groceries, coffee, and have a town within 5 minutes of where i live. Being close to a major highway/roadway is also super important. The idea of telling the wife im going to get coffee/donuts/milk on a saturday morning and that being an hour long trip blows my mind.
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Old 01-10-2019, 07:21 AM
  #36  
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Default Re: Gentrification, your neighborhood, and you

Originally Posted by Rguy View Post
As long as you're happy, thats all that matters. For me the most important things are being able to get groceries, coffee, and have a town within 5 minutes of where i live. Being close to a major highway/roadway is also super important. The idea of telling the wife im going to get coffee/donuts/milk on a saturday morning and that being an hour long trip blows my mind.
Man I couldn't do that! We looked all over the place but those things were held in high regard for us too!

Neighborhood not too big, all amenities close by (5-10) min at most, major roads close by, etc.
I think we landed perfectly however if one of these farms sells, they are going to develop the crap out of the area and then we may hate it!
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Old 01-10-2019, 07:22 AM
  #37  
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Default Re: Gentrification, your neighborhood, and you

Originally Posted by Rguy View Post
As long as you're happy, thats all that matters. For me the most important things are being able to get groceries, coffee, and have a town within 5 minutes of where i live. Being close to a major highway/roadway is also super important. The idea of telling the wife im going to get coffee/donuts/milk on a saturday morning and that being an hour long trip blows my mind.
We have pretty much crossed off one area we want to move to just because there isn't a Home Depot or Target within a 5 minute drive.
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Old 01-10-2019, 07:24 AM
  #38  
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Default Re: Gentrification, your neighborhood, and you

Originally Posted by Rguy View Post
As long as you're happy, thats all that matters. For me the most important things are being able to get groceries, coffee, and have a town within 5 minutes of where i live. Being close to a major highway/roadway is also super important. The idea of telling the wife im going to get coffee/donuts/milk on a saturday morning and that being an hour long trip blows my mind.
Even worse than the grocery aspect is the medical part. My in laws have a cabin (2nd home) in the middle of nowhere in VA. It's literally an hour to the closest hospital, and who knows how long for EMT's to actually get to their place. Luckily we have a hospital within a few minutes. That was a big driver in our decision to stay here. We are constantly taking our kids to urgent care for illnesses, food allergies, and other things. I couldn't imagine being an hour, or even 30 minutes away from medical care.
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Old 01-10-2019, 07:27 AM
  #39  
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Default Re: Gentrification, your neighborhood, and you

Yeah. I don't think I could move that far away from civilization (groceries/coffee/gym/HD/etc are all 5-10 minutes away here).

Do you commute every day? That was the driver for my move; I work remotely the vast majority of the time. When I do have to commute in, it's only a 45 min drive to Sterling/Herndon/Reston.
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Old 01-10-2019, 07:29 AM
  #40  
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Default Re: Gentrification, your neighborhood, and you

Originally Posted by The GreenD16 View Post
We have pretty much crossed off one area we want to move to just because there isn't a Home Depot or Target within a 5 minute drive.
The only real thing we are missing in the Airy, ACE sucks ***** but my office is right by a HD and Lowe's or I take the 20 min ride "into town" from home.
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Old 01-10-2019, 07:31 AM
  #41  
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Originally Posted by ky13 View Post
Do you commute every day? That was the driver for my move; I work remotely the vast majority of the time. When I do have to commute in, it's only a 45 min drive to Sterling/Herndon/Reston.
Yes I work in Fairfax and don't telecommute (generally). So it's an hour on 50 each way from SR. Anything west of 15 wasn't on the cards.
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Old 01-10-2019, 07:36 AM
  #42  
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Originally Posted by oneludesol View Post
*build houses in shitty neighborhoods. I never bought anyone's home, only vacant land. I build nice things in all but forgotten parts of town, does that weigh differently on the scale of morality?
Denver has enough housing for rich ******. There is not enough for regular folks, you're trying to price people out. That doesn't make things better.
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Old 01-10-2019, 07:40 AM
  #43  
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Originally Posted by moopmoop View Post
Denver has enough housing for rich ******. There is not enough for regular folks, you're trying to price people out. That doesn't make things better.
What's really sad is that regular folks are being completely priced out of SFH's. That's been a trend in the more expensive areas but is slowly moving outward into the suburbs. "Starter home" is now relegated to condos and TH's in a lot of places.
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Old 01-10-2019, 07:41 AM
  #44  
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Default Re: Gentrification, your neighborhood, and you

Why so personal bluuu?
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Old 01-10-2019, 07:44 AM
  #45  
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Default Re: Gentrification, your neighborhood, and you

Originally Posted by moopmoop View Post
Denver has enough housing for rich ******. There is not enough for regular folks, you're trying to price people out. That doesn't make things better.
I'm not trying to price anyone out, and I assure you, the regular folks living within a mile of anything I build are nothing but appreciative for the astronomical comp nearby, and the five figure +++ effect it has on their property value. I don't take away anyone's home, and I all but hand $20-50k in instant equity to anyone living nearby. How is that bad for the regular folk?
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Old 01-10-2019, 07:45 AM
  #46  
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Default Re: Gentrification, your neighborhood, and you

Originally Posted by BauleyCivic View Post
What's really sad is that regular folks are being completely priced out of SFH's. That's been a trend in the more expensive areas but is slowly moving outward into the suburbs. "Starter home" is now relegated to condos and TH's in a lot of places.
I always wonder who is going to be buying all those homes in super expensive areas when the baby boomers die. I dont know of anyone in my generation who will be capable of buying a million dollar home, but yet there will/should be a glut of them hitting the market in the next 10-15 years.
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Old 01-10-2019, 07:57 AM
  #47  
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Default Re: Gentrification, your neighborhood, and you

Originally Posted by Rguy View Post
I always wonder who is going to be buying all those homes in super expensive areas when the baby boomers die. I dont know of anyone in my generation who will be capable of buying a million dollar home, but yet there will/should be a glut of them hitting the market in the next 10-15 years.
I mean the boomers' wealth will just be transferred to their kids when they die, the question is whether the kids want to live in the same types of houses that their parents did. How they will use that wealth I'm sure is what many economists and marketing professionals are trying to figure out.
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Old 01-10-2019, 07:59 AM
  #48  
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Default Re: Gentrification, your neighborhood, and you

Originally Posted by Rguy View Post
Ive known more than a few people who "moved way out" to get a nice big home, then realized that way out is actually awful. People dont want to come see you, everything takes 30 minutes to get to, your options for things are extremely limited. Just like a business, location is everything.
Originally Posted by Rguy View Post
As long as you're happy, thats all that matters. For me the most important things are being able to get groceries, coffee, and have a town within 5 minutes of where i live. Being close to a major highway/roadway is also super important. The idea of telling the wife im going to get coffee/donuts/milk on a saturday morning and that being an hour long trip blows my mind.
This is my current situation.

Bought out near the lake for a great price, into a family surburb. However, nearly everything "cool" is 30min minimum. Thankfully, there's a highway near (few highways, actually), along with a huge shopping center ~10 minutes away. Were is further and undeveloped, I couldn't do it.
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Old 01-10-2019, 08:03 AM
  #49  
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Default Re: Gentrification, your neighborhood, and you

Originally Posted by moopmoop View Post
Denver has enough housing for rich ******. There is not enough for regular folks, you're trying to price people out. That doesn't make things better.
Housing developments are going up all over Denver. The poors have plenty of choices.

As you get into the resort areas west of Denver - they have programs that require a certain percentage of homes that must be available at low cost to locals.

The reason why you tend to see fewer low and mid level SFHs being built these days is because the start up costs involved are the same for those houses as they are for high end houses, so builders tend to go high end.
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Old 01-10-2019, 08:06 AM
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Loudoun has the same thing. ADU's.

https://www.loudoun.gov/1813/Afforda...g-Unit-Program
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