Okay, So Northern Virginia Real Estate Doesn’t Suck for Everyone

I said as much on Tuesday, but after Tuesday’s post I was wanting to counter balance the argument that Northern Virginia Real Estate sucks, and last night I was given that opportunity. At a coctail party I had the pleasure of a conversation with a home owner which was garnished with words like “blessed”, and “fortunate” referring to the fact that they owned thier home in Northern Virginia and not in any number of other localities around the country that have been hit much harder by the floundering of housing and subsequent financial crisis.

Quite a contrast to words such as, say, Sucks, like in Tuesday’s post.

Hey, I knew these folks were out there, and there are a lot of them in Northern Virginia and the DC area as a whole. They bought in the 90’s (or earlier) at prices that seemed unreasonable in their day, say $250,000 for a single family 4 bedroom home in Falls Church City, or Arlington. Even after the correction of the last three years many of these owners could still sell today for double, or more, what they paid originally. Heck, some could sell for double and then watch their old house get scraped to the ground in favor of a newly built home. In plenty of areas around the country folks who bought at the same time are not anywhere near this position. Not to say those families would be underwater, but they are not sitting on that sort of equity, or marketability.

That aspect of Northern Virginia Real Estate is amazing, truly.

However, the reach of the uncertainty and frustration for others remains far. On Tuesday I interacted with a reader of the post who had bought in the early 2000’s and could relate all too well to what I had to say. You know those times where having someone talk like they know you is NOT actually comforting? Yeah, I would say that was true in this case.

Today I wanted to fully acknowledge that there are two sides to the story, probably far more than tow actually.There are a number of positive things taking place in Northern Virginia Real Estate, such as buyer demand for quality, move-in-ready homes, but I’ll talk more on that another time.

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