D.C. Metro Home Builders Feel the Market Glut
COMMENTARY
I have written before about having just moved from Mobile, Alabama, to relocate to the sticker-shocked D.C. metro area.
Ok, I just don't understand how ya'll have the nerve to ask $400K to $500K for a 1100 sq. ft., cheap, vinyl-clad frame-construction, two year old apartment-conversion condo passed off as new.
Regional differences aside, in Mobile, for $100K less, my 3200 sq. ft. all-brick house had 13 ft. ceilings, elegant moldings, granite, wood flooring throughout, and upgraded everything. Gas lights, huge outdoor living areas, and wrought iron added to all that a hint of local cajun flavor.
But the biggest difference between Mobile and D.C. is in the quality. The good `ol Bama boys are dang proud of what they build. So I really don't find any irony in the news story, Home builders try extras to lure customers.
The bottom line? I just feel insulted by what sells for a half a million bucks in the D.C. area. Furthermore, I am hesitant to pay top dollar for an overpriced albatross that will stick to me like stink on a skunk once I have done my time in the D.C. area and move back out into Red State bliss.
NEWSLINES
So deals, like a $40,000 break on a $500,000 American University dorm turned condo, are becoming popular. (I couldn't have said it any better myself.)
NEWSBYTE
Home builders try extras to lure customers
WASHINGTON, Dec. 31 (UPI) -- A glut in homes for sale is prompting Washington, D.C.-area home builders to offer extras to snag customers.
Daniel Oppenheim, an analyst with Banc of America Securities, said he's seen freebies worth up to 5 percent of a sales price. Read full story.
TENSION: It's a bust
GRAVITY: Insulting
Tags: In The News, Gulf Coast, economics, business, economy, housing
Global Tags: Washington DC, News and politics, News, Politics, Current Events, Current Affairs, Life
I have written before about having just moved from Mobile, Alabama, to relocate to the sticker-shocked D.C. metro area.
Ok, I just don't understand how ya'll have the nerve to ask $400K to $500K for a 1100 sq. ft., cheap, vinyl-clad frame-construction, two year old apartment-conversion condo passed off as new.
Regional differences aside, in Mobile, for $100K less, my 3200 sq. ft. all-brick house had 13 ft. ceilings, elegant moldings, granite, wood flooring throughout, and upgraded everything. Gas lights, huge outdoor living areas, and wrought iron added to all that a hint of local cajun flavor.
But the biggest difference between Mobile and D.C. is in the quality. The good `ol Bama boys are dang proud of what they build. So I really don't find any irony in the news story, Home builders try extras to lure customers.
The bottom line? I just feel insulted by what sells for a half a million bucks in the D.C. area. Furthermore, I am hesitant to pay top dollar for an overpriced albatross that will stick to me like stink on a skunk once I have done my time in the D.C. area and move back out into Red State bliss.
NEWSLINES
So deals, like a $40,000 break on a $500,000 American University dorm turned condo, are becoming popular. (I couldn't have said it any better myself.)
NEWSBYTE
Home builders try extras to lure customers
WASHINGTON, Dec. 31 (UPI) -- A glut in homes for sale is prompting Washington, D.C.-area home builders to offer extras to snag customers.
Daniel Oppenheim, an analyst with Banc of America Securities, said he's seen freebies worth up to 5 percent of a sales price. Read full story.
TENSION: It's a bust
GRAVITY: Insulting
Tags: In The News, Gulf Coast, economics, business, economy, housing
Global Tags: Washington DC, News and politics, News, Politics, Current Events, Current Affairs, Life
posted by Steven Moyer at 8:46 PM
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