Movin'

[edamame]

Our offer was accepted on the house. Moving to the west side of Herndon ("Historic" Herndon, not "Ghetto" Herndon) some time at the end of this year. Exciting times....

Oh, and yeah...if you know anyone who would like to rent a cute pet-friendly condo that is convenient to lots of stuff, point them in my direction!

Comments

[rekoil]

Cool!

Dare I ask, without quoting exact numbers (use percentages if you like), what the typical house is going for in that area compared to what it would have gone for pre-housing bubble?

[edamame]

Depends where you buy, but in the part of town where we live now and are buying in December, it's probably anywhere from 20-25% reduction in price. The further out you go, the worse it seems to get (I know there is a bunch of stuff in Loudon county that has come down a shocking amount). My condo in Herndon would probably sell right now for about 22% less than what I paid for it. Unfortunately, I do not have that much equity in it, which is why I'm renting it instead of selling.

[elvenresistance]

Ow. That's some nasty price-dropping. I can definitely see why you'll be renting it. If you want a property manager to deal with all the rental-headaches, I can see if I can locate the old prop manager that I used to go through when renting. Last I knew, she has switched to Re/Max and was super awesome.

[edamame]

I think I've actually lined up a property management company, a girl I kinda sorta used to know works for them so I reached out to her. I haven't really done much price shopping though, do you know typically about how much these companies charge? Like 10% of the monthly?

[elvenresistance]

Sadly, I have no idea. I only dealt with the one prop manager I worked with as a renter. I should be finding out soon, though, as my fiancé has a house he's going to rent out.

[rekoil]

I hear ya - on a whim, I just checked listings in my old Annandale neighborhood, and found that my old house is listed for sale - for about $90K less than what we sold it for in 2004. Yipes!

...

[professorbooty]

pre-bubble, or pre-burst?

I think prices are still in the bubble range -- it's only started to deflate.