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Quote:

Originally Posted by samnavy (Post 1574423)

^We've seen about a dozen homes via Facetime with a realtor. We put an offer in on one out in Brambleton and figured we lost by about $10k. Now targeting Oakton/Vienna and could get away with $900k, but scared to death of such a huge number not knowing what will happen in November. A finance buddy of mine who pays attention to such things says that if "anybody but Trump" wins in November, the recession will hit hard and fast and it will be real ugly. Real estate will be an early industry to shit itself now that there's been a solid bounce-back since the 08-10 plunge. But with Amazon ramping up in Arlington, people may be playing a waiting game... Trump wins just as Amazon brings a couple thousand new hi-salary people to the area and the housing market explodes... then they sell. But it's a sellers market now for those who choose to because not enough inventory for the demand. Every property worth a shit is being listed low with an "offer window"... submit your offers between X date and Y date and may the odds be ever in your favor. Most of the ones we're looking at between $700k-$900k are going to $20k-$40k over list with closing costs to the buyer and fuck whatever the home inspection shows.

We've decided to pick a high school and rent for a year to see what happens. The rental market is surprisingly robust, just a matter of picking a the high school we want to end up in and rent there... save a shit-ton over the next year and then buy when things have settled of kick ourselves in the ass over waiting too long.

As a DC resident, what your finance buddy is saying is hot garbage. Why?? The number 1 employer is the government and their associated contractors. The government isn't going to lay many people off come recession. Actually, the housing market in this area never really took a hit in 2008, or when the government shutdown over the last few years, or even the latest Covid crisis......

Homes in my area have been sold before coming on the market during this Covid crisis.....

We were lucky on our first two homes in DC. However, we were willing to swing a hammer on our second home to get it into the condition it is now and had a cracking realtor. Also has a garage (which is a rarity the further south you go towards the white house. You can however plunk down millions if you want to live in NW or say Georgetown........but fuck all that noise. And I refuse to live in VA are they have car tax for every single vehicle I own.....no thanks).