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The Official-ish DC Thread

mak1277

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I'm all for bike paths everywhere because I firmly believe there is no place for bikes on roads (unless you're fast enough to keep up with traffic).
 

smittycl

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Ambulance Chaser

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Getting my first COVID vaccine shot tomorrow morning at Harris Teeter. For anyone who is still looking, check out the VaccineFinder website. I was able to find a convenient location and time in a few minutes after losing patience with DC pre-registration.
 

bicycleradical

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500 people showed up for that memorial ride last night.
 

smittycl

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awesome... we need to keep covid numbers high...

#stayhome #wearamask
The invite specified masks and distancing. With yesterday's winds I expect it was quite safe.

Had a DC celebrity sighting yesterday. Took my nephew on a ride and stopped by the Giffords' gun death memorial on the Mall so he could take pics for school. Saw Doug Emhoff (SGOTUS) there with some staffers.
 

bicycleradical

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The invite specified masks and distancing. With yesterday's winds I expect it was quite safe.

Had a DC celebrity sighting yesterday. Took my nephew on a ride and stopped by the Giffords' gun death memorial on the Mall so he could take pics for school. Saw Doug Emhoff (SGOTUS) there with some staffers.
I have a few friends who went and I'll update if any of them gets sick.
 

lordsuperb

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Has anyone been paying attention to the real estate market here since covid happened? My old realtor mentioned the prices in Arlington are on the rise given the lower interest and people’s tendencies to over bid on a property given the limited selection.

What happens when interest rates go back up? Will prices still be high?
 

scurvyfreedman

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Has anyone been paying attention to the real estate market here since covid happened? My old realtor mentioned the prices in Arlington are on the rise given the lower interest and people’s tendencies to over bid on a property given the limited selection.

What happens when interest rates go back up? Will prices still be high?
I refinanced to 2.75% for 30 years. I think I hit the low almost perfectly, when I locked my rate in January. Refi happened in late Feb. Rates have been going up, but they are still pretty historically low. There's less inventory this spring b/c people are less likely to move during COVID - same with change jobs, which is a frequent driver of people selling/buying. In my Rockville neighborhood, I've seen a lot of people putting on new roofs, having contractors remove carpeting, and bigger jobs. My guess is that a lot of people refinanced and took out equity to do some needed repairs and remodeling. We took out cash in our refi to remodel our two upstairs bathrooms. We just need to get our contract to show up. It seems they are all swamped with work.
 

bicycleradical

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Has anyone been paying attention to the real estate market here since covid happened? My old realtor mentioned the prices in Arlington are on the rise given the lower interest and people’s tendencies to over bid on a property given the limited selection.

What happens when interest rates go back up? Will prices still be high?
I've been on the nova subreddit and heard some insane stories about people buying houses with all contingencies waived, bidding way over asking, coming in with cash offers, etc. Houses in Alexandria and environs are under contract before viewings happen. One place I looked at had 4 offers in place before the agent showed up and was under contract later that day.

I bought a house in November and based on the stories I've heard, I consider myself very lucky to have landed here.
 

dc_slicker

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The invite specified masks and distancing. With yesterday's winds I expect it was quite safe.
meh... staying home is 100% safe...

but in the end, people were stuck at home for more than a year, so I get it.

Just saying that I personally still trying to be safe even after I got my vaccine, etc.
 

mak1277

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Has anyone been paying attention to the real estate market here since covid happened? My old realtor mentioned the prices in Arlington are on the rise given the lower interest and people’s tendencies to over bid on a property given the limited selection.

What happens when interest rates go back up? Will prices still be high?
The market is crazy hot right now. Very low inventory, very low rates, hot stock market, free stimulus money...all contributing to a major seller's market. I read an article recently about a house that received 76 all-cash, no contingency offers within 48 hours of listing, and it ultimately sold at 200% of asking price. That's certainly extreme, but I've also heard a fair number of stories about houses in the $800k - $1 million range getting cash offers of 20% over asking price.

Honestly, I have seriously thought about selling my house and renting for a year or two (before I retire and relocate) just to take advantage of the market.
 

lordsuperb

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I've been on the nova subreddit and heard some insane stories about people buying houses with all contingencies waived, bidding way over asking, coming in with cash offers, etc. Houses in Alexandria and environs are under contract before viewings happen. One place I looked at had 4 offers in place before the agent showed up and was under contract later that day.

I bought a house in November and based on the stories I've heard, I consider myself very lucky to have landed here.
Houses in general are a money pit, I had to replace the roof and AC within the first year of moving in to my previous house. Also had to seal the outside exterior when I renovated my basement. The fact that some of these people are offering bids without contingencies and waiving the inspection is absolute madness.

I will be looking to buy within a 2 year time frame and don't want to tied down to house that doesn't appreciate the way I expect.
 

dc_slicker

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Houses in general are a money pit, I had to replace the roof and AC within the first year of moving in to my previous house. Also had to seal the outside exterior when I renovated my basement. The fact that some of these people are offering bids without contingencies and waiving the inspection is absolute madness.

I will be looking to buy within a 2 year time frame and don't want to tied down to house that doesn't appreciate the way I expect.
My friends did that since they loved the house and wanted to get it.

after 2 months. They had to spend 50k to correct some issues with foundation.... and they paid over asking.
Shortly after they had to fix bunch of smaller things like sliding door, walls, driveway etc. but it all added up.

So def you can get burned by it...
 

mak1277

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Houses in general are a money pit, I had to replace the roof and AC within the first year of moving in to my previous house. Also had to seal the outside exterior when I renovated my basement. The fact that some of these people are offering bids without contingencies and waiving the inspection is absolute madness.

I will be looking to buy within a 2 year time frame and don't want to tied down to house that doesn't appreciate the way I expect.
Just personal opinion, but I would never buy a house with the expectation of appreciation (unless I was planning to rent it out and not personally live in it). My residence is my residence, not an investment. If you go in with that mindset you're never going to get burned.

I also think market timing is a game that is only winnable by luck, not skill.
 

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