tag:blogger.com,1999:blog-13164186.post113445072330117009..comments2024-01-27T19:26:32.604-05:00Comments on Bubble Meter: Sold: 1608 Noyes DriveDavidhttp://www.blogger.com/profile/11169148764438565562noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-13164186.post-66608633114600146292007-12-31T19:00:00.000-05:002007-12-31T19:00:00.000-05:00It's up for sale again, this time for $500,000. S...It's up for sale again, this time for $500,000. Some very sloppy cosmetic work was done, but it's still a pile of shit, and there's still a huge problem of water in the basement when it rains for more than an hour or two. Whoever buys this house is buying a load of trouble.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-1134500317976910862005-12-13T13:58:00.000-05:002005-12-13T13:58:00.000-05:00"median income for a family is $84,035."Hey, I was..."median income for a family is $84,035."<BR/><BR/>Hey, I wasn't that far off. And is that a 2005 number? If it's a 2004 number, a 3-4% government raise would get you pretty close to 90K.<BR/><BR/>Anyway, for the point I was making, it would be better to overestimate. The lower the median income, the more ridiculous the price of that house.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-1134495953611543832005-12-13T12:45:00.000-05:002005-12-13T12:45:00.000-05:00The fact that that house sold for a pretty high pr...The fact that that house sold for a pretty high price in comparison to what you get (a not-so-great house) and from other sales I heard about through friends, I would say that the DC Metro area doesn't have a bubble yet. Lets face it- people are buying if the house is priced right. Of course, I'm not buying now, but feel good about my rental units for the long term.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-1134488834346126902005-12-13T10:47:00.000-05:002005-12-13T10:47:00.000-05:00Not quite. The median income for a household in th...Not quite. <BR/><BR/>The median income for a household in the county is $71,551, and the median income for a family is $84,035.( US Census Bureau )Davidhttps://www.blogger.com/profile/11169148764438565562noreply@blogger.comtag:blogger.com,1999:blog-13164186.post-1134488587881139422005-12-13T10:43:00.000-05:002005-12-13T10:43:00.000-05:00I just ran some numbers on an internet loan calcul...I just ran some numbers on an internet loan calculator.<BR/><BR/>With an interest rate of 6.25% for 30 years, putting 20% down, and with taxes+insurance of $3200 a year, the payments are over $2500 a month. <BR/><BR/>If you use the old rule of 33% of your income going to a home, that implies an income of $7500 a month, or $90,000 a year.<BR/><BR/>The median income in Montgomery County is probably roughly 90K, which sort of implies that is a "median" home in the county.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-13164186.post-1134488279847538582005-12-13T10:37:00.000-05:002005-12-13T10:37:00.000-05:00Well, the original listing was 519 and it sells fo...Well, the original listing was 519 and it sells for 470... the seller won this one, IMO. That house is barely worth 170 if it's renovated.<BR/><BR/>This bubble ain't over yet.Anonymousnoreply@blogger.com