Reply #13: it is a crazy boom and I wonder when it will decompress... [View All]

[bleedingheart]

my friend bought a townhouse in Centerville, VA for 153K in 1994...she wanted to get out of it in '96 to buy a big house...she actually took a loss and sold it for $148K because she sold it too soon and the developer was still building at the time so...people didn't want her townhouse with all her choices when they could have their own...
She bought a house for $299K in Manassas. In 2002, she sold that house for $500K...and moved to Richmond to get away from the DC boom but based on what I saw down in Richmond..it wasn't any better... she ended up with a $450K house...I kept telling her to buy something for $250K so she wouldn't have a mortgage...but she is hoity toity and that wouldn't do...