I just got back from a "pre-sale party" for a PNHoffman development in Alexandria. Holy christ it was a madhouse in there. They drew out numbers when people checked in. And then called them out in order to get your pick of a condo. We were lucky and got #28... it was funny when they called me u because the guy was introducing himself and I just yell.. I WANT UNIT XXX! haha.

So many people were wanting units we wanted, we were so lucky when we got up there and got our 1st pick.

Pricing was pretty crazy too... $350k for a studio... going up to $1mil for a huge 2BR corner.

My question is... why do builders have these "pre-sale" events where they sell units for pricing under initial release?? Why not just put them all on the market at once and get a premium?? :confused

Maybe they just want to give MARB owners a break so they can buy mods. :dunno

they guarantee all the units will be sold that way right away. also they can control it so one or two investors don't just buy up the whole building, or all the lots or whatever and then sell them for a huge profit when they are built. congrats on your new condo :buttrock

Condos are being built around Eisenhower near the Hoffman Center???? I was unaware of that. Doesn't matter though, can't do the condo thing with 3 dogs.

WTF are you buying a condo for?

I just got back from a "pre-sale party" for a PNHoffman development in Alexandria. Holy christ it was a madhouse in there. They drew out numbers when people checked in. And then called them out in order to get your pick of a condo. We were lucky and got #28... it was funny when they called me u because the guy was introducing himself and I just yell.. I WANT UNIT XXX! haha.

So many people were wanting units we wanted, we were so lucky when we got up there and got our 1st pick.

Pricing was pretty crazy too... $350k for a studio... going up to $1mil for a huge 2BR corner.

My question is... why do builders have these "pre-sale" events where they sell units for pricing under initial release?? Why not just put them all on the market at once and get a premium?? :confused

Maybe they just want to give MARB owners a break so they can buy mods. :dunno

Condos are being built around Eisenhower near the Hoffman Center???? I was unaware of that. Doesn't matter though, can't do the condo thing with 3 dogs.

Yea... http://www.pnhoffman.com/buyhome/Virginia/Virginia.html

apparently they are trying to make that area like Clarendon... they allow 2 dogs.... Im pretty sure you can get away with a 3rd :stickoutt

JohnV, might move, dunno. Walking to work would be quite nice. If not, I could always sell.

Yea... http://www.pnhoffman.com/buyhome/Virginia/Virginia.html

apparently they are trying to make that area like Clarendon... they allow 2 dogs.... Im pretty sure you can get away with a 3rd :stickoutt

JohnV, might move, dunno. Walking to work would be quite nice. If not, I could always sell.
You just bought your house, though... :confused

Hey, will you be around this weekend? Need to drop off some tires to get mounted.

JV

As I mentioned, the banks generally require 30-40% presales before they'll fund. Plus you build a LOT of momentum.

You just bought your house, though... :confused

Hey, will you be around this weekend? Need to drop off some tires to get mounted.

JV

yea, I'll be home.

Don't complain until you have to camp out for 2 weeks for your house. :mad :nono

:stickoutt

yea, I'll be home.
Cool. I'll call ya.

And find a buyer for my Hoosiers!! I'll give you a cut... ;)

JV

Serious question:

Why do people continue to buy houses and/or property in this area while prices are at such an astronomical level?

Serious question:

Why do people continue to buy houses and/or property in this area while prices are at such an astronomical level?
Because the prices still seem to be going up... People were saying they were high 3 years ago!

They have to live somewhere and even if you are paying a "high price", interest rates are low and at least you get something out of it (not like renting).

---Eric

I think my perception of value is skewed when it comes to property.

I think my perception of value is skewed when it comes to property.

but you live in Baltimore :) Hard to compare that area w/ DC.

While I agree the market is mega expensive, I dont wish for a burst in the bubble... but until they find more room inside the beltway, the prices will emain high.

I think there is some kind of conspiracy. See, inside beltway is mega expensive, so most people need to live outside beltway further and further... which in turn causes mroe traffic, and more demand for places closer... which then drives more ppl out.. etc etc

You're exactly right.

Ya think perception is skewed :mad It doesn't matter how far outside the beltway you move anymore. Those prices are going up as well. If you want a reasonable price, you're looking at moving as far south as Fredricksburg or Richmond. Prices in Manasas are even crazy high...

Im dreading the time when I need to buy a house in the area. I wish I could find a job in like York, PA or something. That place looks like Frederick used to look and Im sure housing prices are dirt cheap.

Maybe I could work on a farm or something. :dunno

It is flipping absurd here. I bought my condo a year and six months ago for $180k. The comparable units are going for $250 now.

Reminds me, I need to get an appraisal to get rid of that naughty PMI... :D

It is flipping absurd here. I bought my condo a year and six months ago for $180k. The comparable units are going for $250 now.

Reminds me, I need to get an appraisal to get rid of that naughty PMI... :D

Yup. Tina bought her place in Falls Church for 262, sold for 375 in 2 years. Too bad when you sell and buy a new place, the new place is just as inflated :(

Tina bought her place in Falls Church for 262, sold for 375 in 2 years.RICH!!!!!


Scott

Too bad when you sell and buy a new place, the new place is just as inflated :(

Pwned.

Pooreostatis.

Wow, remind me to stay in south-central PA... :eek:

$350k for a studio condo?

Wow, remind me to stay in south-central PA... :eek:

$350k for a studio condo?

550 square feet studio condo at that!

That's cheap, buy two!! It's 250k for a 475 sq ft closet next to the elevator shafts across the street from my office. No parking, no upgrades, $150/mo condo fee.

Check it out, Unit 05 and 07

http://www.pnhoffman.com/buyhome/Alta/Typical-units-042304.gif

This place has been the talk of the town for a year now...I'm glad there finally getting somewhere with it. I've talked to plenty of people who were clawing to get in this place :shifty

Yup. Tina bought her place in Falls Church for 262, sold for 375 in 2 years.

No wonder she can buy you M3s and Integras to drive!!!!

That's cheap, buy two!! It's 250k for a 475 sq ft closet next to the elevator shafts across the street from my office. No parking, no upgrades, $150/mo condo fee.

Check it out, Unit 05 and 07

http://www.pnhoffman.com/buyhome/Alta/Typical-units-042304.gif
can't even fit a bed in them.

ridiculous.

unless you're always sleeping somewhere else :)

$275k for a walk-in closet? Some people are out of their fucking minds.

Bed = couch


Yes and no. If you live and work in the city, have no car or car/ins/gas payment and have a property that appreciates at an insane rate...not a bad deal.

I commute Hagerstown to DC for work in the summer. Even the prices of little redneck Hagerstown is rising astronomically. An appraisal this year of my parents' house went up $100k+ from that of 2-3 years ago.

Haha have any of you ever seen the G-Unit SUV guy?

Well he remodels lofts in DC. Buys them out then resales them. I went to one of his condo/loft party it was pretty wild too.

That's cheap, buy two!! It's 250k for a 475 sq ft closet next to the elevator shafts across the street from my office. No parking, no upgrades, $150/mo condo fee.
Check it out, Unit 05 and 07


Jeez, my 666 sq ft in Annandale has a separate 9' x 15' bedroom w/ 9' window and 18' x 8' high balcony glass living / dining area, currently $150k, bought for $60k. :D

Jeez, my 666 sq ft in Annandale has a separate 9' x 15' bedroom w/ 9' window and 18' x 8' high balcony glass living / dining area, currently $150k, bought for $60k. :D

That's what I'm talking about! :alright