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wackywill Donating Member (98 posts) Send PM | Profile | Ignore Tue Jul-27-04 07:51 AM
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28. I live
in Northern VA between Richmond and DC. The market here is super heated. I built a new home on Lake Anna about 30 miles west of I-95 last year. My lot was 30K, lots now selling at more than twice that at 68K. My house complete with post-construction upgrades, landscaping, deck and paved drive cost around 239K will now market in the high 300K's.
My best friend lives in a very modest middle/lower middle class neighborhood. The home across the street in poor condition needing a lot of work was put on the market at 220K it sold in 2 days. I figured it was realistically worth less than half its selling price.
Many people I know are selling just because prices are soooo high and they can move into better, newer digs and keep the same or even lower their payments.
I'm just wondering if/when the bubble will burst and should I get out now and what will I do for housing if I do? Actually not that bad of a problem to have. Thinking about selling and moving to a less heated market. Our jobs travel anywhere East of the Mississippi , must live within 2 hours of major airport....any ideas?
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