Pigtown's horrid housing market depreciation (due to its ridiculous overinflation) is affecting me to the point of grief. I love my home, and have put so many of my resources into it, but it's all for naught. Zillow.com is estimating my home's value at 60% of what I paid in 2006. All my closest neighbors--who were proud homeowners--have left. Of the rehabbed homes that don't remain empty, transitional students and section 8-vouched renters abound. The neighborhood's open-air drug market has decreased significantly (thanks to the vigilance of great community activism), but this gem of a neighborhood is still too rough to truly enjoy.
Washington, DC beckons my return...to be continued.
UPDATE THE NEXT DAY: Just toured a $1200/month Capitol Hill apartment (a good deal for the area) with supposedly 650 square feet (more like 400), and the pic below is HIGHLY flattering compared to reality--you wouldn't believe the bathroom. Well...looks like I'm staying in Pigtown--I'll take the comforts of a newly rehabbed home over a craptacular roach condo. If I can't live within walking distance to work, it takes just as much time getting around DC as a 45-minute drive to Baltimore.
9 comments:
You're such a romantic @ long haul! Way to pull the heart strings, ha! You're right about not selling in a low market, but I've looked at the real comps (not Zillow), and even in 5 years, my home would sell for $25-50K less than what I paid. I bought at the bubble and had an appraiser who wasn't a local.
I just got off the phone with a good friend who owns the house next door to me (she's an investor and in the real estate industry). She plans to short sell--and guess what? She advised me in no indefinite term to get packing. At this point, there's so much to consider. We'll just see.
Sigh.
Well H.C., count me in as your tried and true neighbor again. :)
You're absolutely right. In all my whimsy, I sometimes forget to be grateful for what I have.
Ah, you remembered...I got sidetracked, but I'll start working on it!
No no!! I just found your blog, you can't leave! I love love love your interior work. I have a blog and bought a place in Pigtown too. www.myselfathome.blogspot.com Shhhh... don't want EVERYONE in the neighborhood knowing. But it's fun for friends.
Hey Christina, and thanks! No worries--I'll be in Pigtown for the foreseeable future. BTW, thanks for your link--I'm already a follower! If you don't already follow http://www.pigtown-design.blogspot.com/ you should although, Meg, its blogger, is relocating to Hampden.:( We Pigtown bloggers have to stick together! ;)
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