| Page 3 of 3 < |
Housing Envy: Soaring Prices Create Divide
Lorna Dressendorfer, left, and Erin Call are nurses in the maternity ward at Sibley Memorial Hospital.
(By Marvin Joseph -- The Washington Post)
TOOLBOX
   Resize
COMMENT
 Discussion Policy
 CLOSE
Comments that include profanity or personal attacks or other inappropriate comments or material will be removed from the site. Additionally, entries that are unsigned or contain "signatures" by someone other than the actual author will be removed. Finally, we will take steps to block users who violate any of our posting standards, terms of use or privacy policies or any other policies governing this site. Please review the full rules governing commentaries and discussions. You are fully responsible for the content that you post.
Who's Blogging  |
They found a small, single-family house with a large yard, listed at $365,000. And they were willing to take risks that someone who got in earlier might not have taken, including allowing their bid to automatically increase and taking an interest-only loan. "We waived everything, including the inspection," Hendrickson said.
Their offer of $375,000, $10,000 more than asking price, beat out three other bidders. She knows they are paying more than what Jeronimo and her husband paid two years ago and far more than neighbors who bought a decade ago. "Their payments are almost nothing," she said.
Meanwhile, the real estate market also is complicating workplace management.
Nancy Palazza, president of Alternative Employment Specialists in Herndon, has watched as her workers have struggled to find affordable housing. One employee, new to the area, is probably moving to West Virginia because of housing costs. Another moved to Round Hill from Ashburn, which will add 40 minutes to her commute. Another commutes from Woodbridge.
As a result, Palazza and her employees sat down to talk about flexible schedules or telecommuting. "I can be flexible to a point because we do a lot of work via e-mail," Palazza said. "But I still have to have a core of people here during business hours. I'm trying to be as flexible as I can without compromising the flow of work."
Mike O'Malley, a manager in the intelligence community in Chantilly, said he is reluctant to tell his employees, especially the young ones, about the house he bought in Ashburn in 1997 for $215,000. His home recently was appraised for $570,000.
"We're getting kids who come in and ask how far should I live and what's a good commute. I'm happy to advise them, but I feel like I hit a lottery with the house," he said. He has some employees who are commuting from West Virginia to Chantilly.
When his employees ask where he lives, O'Malley admits it, but he makes sure to tell them "it was sheer luck and timing" that got him there.
"Buying now is just one huge struggle," said Sibley nurse Dressendorfer, who still hopes to do so. But she cannot find anything she likes at a price she can afford in a location she wants. "The prices are just out of control now," she said.
