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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Doughboy who wrote (14739)	10/31/2003 7:51:51 AM
From: Tradelite	Read Replies (1) \| Respond to of 306849

Doughboy, congrats on doing so well. I'm especially impressed that you even found a house to buy in Chevy Chase...don't know much about Maryland real estate but have always had an image in my mind of Chevy Chase being virtually untouchable in terms of price and even availability, because it's in so much demand. CC also has a lot more built-in, older charm than McLean--too many nouveau-riche types started cluttering up the open space around here with some fairly tasteless houses during the commercial real estate boom of the 1980s--in my opinion <<GG>>. As for buying any rental properties around here....I dunno...kind of daunting, because townhomes that used to be priced $250-$300K have jumped to the mid-400s, yet the rental prices I've seen advertised are still pretty much stuck around $2,000 per month. Landlords have always been able to get away with other types of murder (such as keeping places in ugly condition) due to a scarcity of rentals in this town, so it does seem odd that rents aren't skyrocketing along with prices. This probably just means change is coming, however. <<GG>>