Some of your comments reflected this trend:
“I guess you just have to adjust your expectations. I just bought a condo myself and had to adjust mine! In my case, I bought a place that’s smaller than I would have liked, but now I’m having fun trying to find creative ways to make use of the space. Just figure out what you can compromise on (location, space, price, etc.) and work from there....”
Several of you also pointed out that areas in Prince George’s County do have homes in this price range.
One woman, Linda Bailey, e-mailed me to tell me about the affordable homes available in Bowie:
“I can tell you that there are houses available for 250K in Bowie. It is a pretty easy commute to DC from here (my husband has been doing it for years). Forget condos, we have a yard, a front porch, and great neighborhoods with award winning schools.”
Indeed, a search on RedFin shows a little over 2,450 properties in the under-$400,000 price range in Prince George’s County (70 of them are in Bowie for $250,000 or less), compared with just over 700 in Fairfax County.
(It’s worth noting, though, that one aspect many D.C. homebuyers look for is proximity to downtown D.C. — an asset that is lacking in some of the neighborhoods in Prince George’s County, as it is in Fairfax and other suburbs.)
To learn more about this and other trends stemming from the low inventory of under-$400,000, we’ll be featuring another column from our demographer expert, George Mason University professor Lisa Sturtevant, later this week, and we’ll have a live chat with her on Wednesday at noon.
You can submit your questions about the house hunt or anything else real-estate related here.
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