With the white-hot 2010 Reston real estate market bouncing back like a feral cat on steroids, it's time to dust off our HUD paperwork, adjust our ARMs and get ready to play everyone's favorite game of wheeling and dealing, the High-Low Game!Why hello, it's a fancy-pants "pent-house" in the Paramount building across from Reston Town Center! For a mere $1.1 million, you could live in the "creme de la creme," as the breathless marketing prose promises. (We're assuming this also says something about the skin tone of your would-be neighbors, but not in a way that violates fair housing laws.)
Anyhoo! We could go and on about the bamboo floors and quality countertops and whatnot, but let's just look at this front door:
![Property_Photo-2.aspx.jpeg](http://lh5.ggpht.com/_vN46g4NVjSQ/S0dp2iMrLdI/AAAAAAAABUs/oRFeSahgoUI/Property_Photo-2.aspx.jpeg?imgmax=800)
Wow. That's quite a door. It says, "I have arrived. I am the creme de la creme. Tradesmen, please remove your shoes before entering to service my plasma TV."
![Property_Photo.aspx.jpeg](http://lh4.ggpht.com/_vN46g4NVjSQ/S0do6TTHUwI/AAAAAAAABUk/43TfZczn4j0/Property_Photo.aspx.jpeg?imgmax=800)
SHORT SALE. SUBJECT TO THIRD PARTY APPROVAL. SHOW IT ANYTIMEWhen your Realtor (tm)(R) cares enough to type in ALL CAPS, a sale is right around the corner!
![Property_Photo-1.aspx.jpeg](http://lh6.ggpht.com/_vN46g4NVjSQ/S0do0uEwlaI/AAAAAAAABUg/CYd57BPklBk/Property_Photo-1.aspx.jpeg?imgmax=800)
***SHORT SALE*** SUBJECT TO THIRD PARTY APPROVAL, shows wellHmm. We're noticing a trend here. And that's all the time we have for this thrilling edition of the High-Low Game, so until next time, keep your feet on the ground and keep reaching for that subprime, no-cash-down mortgage!
OMG people welcome to the continuing game of should I purchase a condo/townhome w/ $0 down making $50K a year.
ReplyDeleteI imagine the condo/tomehome market in Reston will again slowly decrease throughout 2010 with maybe a brief spike in prices in the March/April period.
If you want to purchase and have at least some cash for a down payment Winter 2010/2011 is going to be a great time to buy.
The only loan available w/ nothing down and near to no closing costs is a VA loan. Va is for veteran not Virginia. For non veterans you'll have to go w/ a FHA and put 3.5% down. Many condos in the 'fake downtown' / town center are not FHA approved through. So you are looking at a 10% down premium.
ReplyDeleteThe article overlooked condo living in Reston priced lower than most rentals priced around $125K for a 2 bedroom, 2 bath are Shadow Wood condos.
See everything listed for sale & rent in Reston on my site: https://www.MapReston.com
That Penthouse used to go for $1.5M 4 y years sgo ...times have changed
ReplyDeleteShadowood is not on the approved list.
ReplyDeletehttps://entp.hud.gov/idapp/html/condlook.cfm
What I don't get is why all of these people selling their shorts. Is this National Commando Month???
ReplyDeleteIt is called my ARM just increased w/ current rate plus 2 pts. The owners probably couldn't afford the place to begin with...that is what is going on....
ReplyDelete