29% of DC owners underwater

[USMCBunny]

I can, I do track that blog, but for some reason the PIGG site gets thru work filters, while the Nova site does not, so I have to do it from home.

[Coronita]

[quote=paramount]This thread is interesting for me on a personal level as I was almost relocated to Virginia; in fact I recently had to decide whether to stay in San Diego or head to Virginia.

I started by looking in Sterling-which is an area I like and not far at all from DC IMO. Only a few minutes really to Tyson’s Corner. Prices seemed pretty high in Sterling and holding as far as I could tell, so then I started looking in Gainesville.

Gainesville is really very similar to Temecula and I would characterize both as exurbs. Well, there is one difference – Gainesville RE prices did not fall nearly as much from the peak compared to Temecula.

I suspect the reason for the huge difference is that the unemployment rate in NOVA is around 6%, meanwhile the unemployment rate in the IE is north of 15%.

The rest of the country suffers for the benefit of the DC area.[/quote]

Paramount..I hate to encourage you to reconsider going to the D.C. area, but I believe you are in the defense business, specifically one that is off of R.B. I actually had a few buddies there c-level above who were riffed…They ended up moving to Maryland,VA, DC area….Because frankly the “defense” business is consolidating, and while it’s shrinking in CA, in the VA/DC/Maryland…It’s growing considerably…A lot of the work is now related to informatics and early threat detection (thanks to all the looneys) versus traditional “military” type weapontry…

So there are totally looking for highly qualified software professionals. A few of my of my friends who was a directors where being asked to take 2 level down positions in S.D. and were seeing cuts down to $130k, “take it or leave it” attitude in the tight market in SD…But ended up taking offers in DC area for $200k, and with all the relocation expenses paid.

And generally, their quality of life is better (8-6 hours, not the unpaid overtime crap like some three letter defense company subjected people to)….Not to mention that this isn’t going to change soon, because spending while spending on welfare might decrease over the years, such informatics work will be around for a long time….When a defense techie sees this sort of differential between SoCal and Maryland, it’s really time to reconsider giving the white flag for just the sunshine here, imho…

At some of the difference in comps, you could be sending your kids to probably the best private schools that runs circles around any public school in SD…

If you plan on staying tech, and want to stay in S.D., my recommendation is to get out of the defense business as soon as you can. Because I fear it’s going to get a lot worse in SoCal for defense folks.

Just food for thought.

[Coronita]

[quote=paramount]This thread is interesting for me on a personal level as I was almost relocated to Virginia; in fact I recently had to decide whether to stay in San Diego or head to Virginia.

I started by looking in Sterling-which is an area I like and not far at all from DC IMO. Only a few minutes really to Tyson’s Corner. Prices seemed pretty high in Sterling and holding as far as I could tell, so then I started looking in Gainesville.

Gainesville is really very similar to Temecula and I would characterize both as exurbs. Well, there is one difference – Gainesville RE prices did not fall nearly as much from the peak compared to Temecula.

I suspect the reason for the huge difference is that the unemployment rate in NOVA is around 6%, meanwhile the unemployment rate in the IE is north of 15%.

The rest of the country suffers for the benefit of the DC area.[/quote]

Paramount..I hate to encourage you to reconsider going to the D.C. area, but I believe you are in the defense business, specifically one that is off of R.B. I actually had a few buddies there c-level above who were riffed…They ended up moving to Maryland,VA, DC area….Because frankly the “defense” business is consolidating, and while it’s shrinking in CA, in the VA/DC/Maryland…It’s growing considerably…A lot of the work is now related to informatics and early threat detection (thanks to all the looneys) versus traditional “military” type weapontry…

So there are totally looking for highly qualified software professionals. A few of my of my friends who was a directors where being asked to take 2 level down positions in S.D. and were seeing cuts down to $130k, “take it or leave it” attitude in the tight market in SD…But ended up taking offers in DC area for $200k, and with all the relocation expenses paid.

And generally, their quality of life is better (8-6 hours, not the unpaid overtime crap like some three letter defense company subjected people to)….Not to mention that this isn’t going to change soon, because spending while spending on welfare might decrease over the years, such informatics work will be around for a long time….When a defense techie sees this sort of differential between SoCal and Maryland, it’s really time to reconsider giving the white flag for just the sunshine here, imho…

At some of the difference in comps, you could be sending your kids to probably the best private schools that runs circles around any public school in SD…

If you plan on staying tech, and want to stay in S.D., my recommendation is to get out of the defense business as soon as you can. Because I fear it’s going to get a lot worse in SoCal for defense folks.

Just food for thought.

[Coronita]

[quote=paramount]This thread is interesting for me on a personal level as I was almost relocated to Virginia; in fact I recently had to decide whether to stay in San Diego or head to Virginia.

I started by looking in Sterling-which is an area I like and not far at all from DC IMO. Only a few minutes really to Tyson’s Corner. Prices seemed pretty high in Sterling and holding as far as I could tell, so then I started looking in Gainesville.

Gainesville is really very similar to Temecula and I would characterize both as exurbs. Well, there is one difference – Gainesville RE prices did not fall nearly as much from the peak compared to Temecula.

I suspect the reason for the huge difference is that the unemployment rate in NOVA is around 6%, meanwhile the unemployment rate in the IE is north of 15%.

The rest of the country suffers for the benefit of the DC area.[/quote]

Paramount..I hate to encourage you to reconsider going to the D.C. area, but I believe you are in the defense business, specifically one that is off of R.B. I actually had a few buddies there c-level above who were riffed…They ended up moving to Maryland,VA, DC area….Because frankly the “defense” business is consolidating, and while it’s shrinking in CA, in the VA/DC/Maryland…It’s growing considerably…A lot of the work is now related to informatics and early threat detection (thanks to all the looneys) versus traditional “military” type weapontry…

So there are totally looking for highly qualified software professionals. A few of my of my friends who was a directors where being asked to take 2 level down positions in S.D. and were seeing cuts down to $130k, “take it or leave it” attitude in the tight market in SD…But ended up taking offers in DC area for $200k, and with all the relocation expenses paid.

And generally, their quality of life is better (8-6 hours, not the unpaid overtime crap like some three letter defense company subjected people to)….Not to mention that this isn’t going to change soon, because spending while spending on welfare might decrease over the years, such informatics work will be around for a long time….When a defense techie sees this sort of differential between SoCal and Maryland, it’s really time to reconsider giving the white flag for just the sunshine here, imho…

At some of the difference in comps, you could be sending your kids to probably the best private schools that runs circles around any public school in SD…

If you plan on staying tech, and want to stay in S.D., my recommendation is to get out of the defense business as soon as you can. Because I fear it’s going to get a lot worse in SoCal for defense folks.

Just food for thought.

[Coronita]

[quote=paramount]This thread is interesting for me on a personal level as I was almost relocated to Virginia; in fact I recently had to decide whether to stay in San Diego or head to Virginia.

I started by looking in Sterling-which is an area I like and not far at all from DC IMO. Only a few minutes really to Tyson’s Corner. Prices seemed pretty high in Sterling and holding as far as I could tell, so then I started looking in Gainesville.

Gainesville is really very similar to Temecula and I would characterize both as exurbs. Well, there is one difference – Gainesville RE prices did not fall nearly as much from the peak compared to Temecula.

I suspect the reason for the huge difference is that the unemployment rate in NOVA is around 6%, meanwhile the unemployment rate in the IE is north of 15%.

The rest of the country suffers for the benefit of the DC area.[/quote]

Paramount..I hate to encourage you to reconsider going to the D.C. area, but I believe you are in the defense business, specifically one that is off of R.B. I actually had a few buddies there c-level above who were riffed…They ended up moving to Maryland,VA, DC area….Because frankly the “defense” business is consolidating, and while it’s shrinking in CA, in the VA/DC/Maryland…It’s growing considerably…A lot of the work is now related to informatics and early threat detection (thanks to all the looneys) versus traditional “military” type weapontry…

So there are totally looking for highly qualified software professionals. A few of my of my friends who was a directors where being asked to take 2 level down positions in S.D. and were seeing cuts down to $130k, “take it or leave it” attitude in the tight market in SD…But ended up taking offers in DC area for $200k, and with all the relocation expenses paid.

And generally, their quality of life is better (8-6 hours, not the unpaid overtime crap like some three letter defense company subjected people to)….Not to mention that this isn’t going to change soon, because spending while spending on welfare might decrease over the years, such informatics work will be around for a long time….When a defense techie sees this sort of differential between SoCal and Maryland, it’s really time to reconsider giving the white flag for just the sunshine here, imho…

At some of the difference in comps, you could be sending your kids to probably the best private schools that runs circles around any public school in SD…

If you plan on staying tech, and want to stay in S.D., my recommendation is to get out of the defense business as soon as you can. Because I fear it’s going to get a lot worse in SoCal for defense folks.

Just food for thought.

[Coronita]

[quote=paramount]This thread is interesting for me on a personal level as I was almost relocated to Virginia; in fact I recently had to decide whether to stay in San Diego or head to Virginia.

I started by looking in Sterling-which is an area I like and not far at all from DC IMO. Only a few minutes really to Tyson’s Corner. Prices seemed pretty high in Sterling and holding as far as I could tell, so then I started looking in Gainesville.

Gainesville is really very similar to Temecula and I would characterize both as exurbs. Well, there is one difference – Gainesville RE prices did not fall nearly as much from the peak compared to Temecula.

I suspect the reason for the huge difference is that the unemployment rate in NOVA is around 6%, meanwhile the unemployment rate in the IE is north of 15%.

The rest of the country suffers for the benefit of the DC area.[/quote]

Paramount..I hate to encourage you to reconsider going to the D.C. area, but I believe you are in the defense business, specifically one that is off of R.B. I actually had a few buddies there c-level above who were riffed…They ended up moving to Maryland,VA, DC area….Because frankly the “defense” business is consolidating, and while it’s shrinking in CA, in the VA/DC/Maryland…It’s growing considerably…A lot of the work is now related to informatics and early threat detection (thanks to all the looneys) versus traditional “military” type weapontry…

So there are totally looking for highly qualified software professionals. A few of my of my friends who was a directors where being asked to take 2 level down positions in S.D. and were seeing cuts down to $130k, “take it or leave it” attitude in the tight market in SD…But ended up taking offers in DC area for $200k, and with all the relocation expenses paid.

And generally, their quality of life is better (8-6 hours, not the unpaid overtime crap like some three letter defense company subjected people to)….Not to mention that this isn’t going to change soon, because spending while spending on welfare might decrease over the years, such informatics work will be around for a long time….When a defense techie sees this sort of differential between SoCal and Maryland, it’s really time to reconsider giving the white flag for just the sunshine here, imho…

At some of the difference in comps, you could be sending your kids to probably the best private schools that runs circles around any public school in SD…

If you plan on staying tech, and want to stay in S.D., my recommendation is to get out of the defense business as soon as you can. Because I fear it’s going to get a lot worse in SoCal for defense folks.

Just food for thought.

[paramount]

flu: I think your observations are accurate and your advice is well taken. I felt moving to DC was a flight to safety – an offensive move. And while I was being offered a relo package, it didn’t even come close to covering expenses. Under more normal circumstances I would have put our house up for sale and moved on, but since we are underwater that wasn’t really an option.

So even though the move was going to cost me $$$$ and the timing was bad school wise, I felt it was a sound investment in the long run. I have a feeling in the not-to-distant future I’m going to be telling my wife “I told you so…”

In talking to a co-worker ‘in the know’ recently (retired USMC), he claims that DC will take a harder hit than SD. Maybe because SD has already seen reductions….

In fact his comments echo USMCbunny’s comments regarding the DC workforce.

That being said we have already seen reductions since the start of the year.

I’m going to get myself in a better position to move (if that becomes necessary) and shorten my commute at the same time, in fact we looked at rental properties in San Elijo Hills this past week.

There is no way I would buy another house in either Temecula or San Diego as I don’t see being employed in this area for the next 30 years.

[paramount]

flu: I think your observations are accurate and your advice is well taken. I felt moving to DC was a flight to safety – an offensive move. And while I was being offered a relo package, it didn’t even come close to covering expenses. Under more normal circumstances I would have put our house up for sale and moved on, but since we are underwater that wasn’t really an option.

So even though the move was going to cost me $$$$ and the timing was bad school wise, I felt it was a sound investment in the long run. I have a feeling in the not-to-distant future I’m going to be telling my wife “I told you so…”

In talking to a co-worker ‘in the know’ recently (retired USMC), he claims that DC will take a harder hit than SD. Maybe because SD has already seen reductions….

In fact his comments echo USMCbunny’s comments regarding the DC workforce.

That being said we have already seen reductions since the start of the year.

I’m going to get myself in a better position to move (if that becomes necessary) and shorten my commute at the same time, in fact we looked at rental properties in San Elijo Hills this past week.

There is no way I would buy another house in either Temecula or San Diego as I don’t see being employed in this area for the next 30 years.

[paramount]

flu: I think your observations are accurate and your advice is well taken. I felt moving to DC was a flight to safety – an offensive move. And while I was being offered a relo package, it didn’t even come close to covering expenses. Under more normal circumstances I would have put our house up for sale and moved on, but since we are underwater that wasn’t really an option.

So even though the move was going to cost me $$$$ and the timing was bad school wise, I felt it was a sound investment in the long run. I have a feeling in the not-to-distant future I’m going to be telling my wife “I told you so…”

In talking to a co-worker ‘in the know’ recently (retired USMC), he claims that DC will take a harder hit than SD. Maybe because SD has already seen reductions….

In fact his comments echo USMCbunny’s comments regarding the DC workforce.

That being said we have already seen reductions since the start of the year.

I’m going to get myself in a better position to move (if that becomes necessary) and shorten my commute at the same time, in fact we looked at rental properties in San Elijo Hills this past week.

There is no way I would buy another house in either Temecula or San Diego as I don’t see being employed in this area for the next 30 years.

[paramount]

flu: I think your observations are accurate and your advice is well taken. I felt moving to DC was a flight to safety – an offensive move. And while I was being offered a relo package, it didn’t even come close to covering expenses. Under more normal circumstances I would have put our house up for sale and moved on, but since we are underwater that wasn’t really an option.

So even though the move was going to cost me $$$$ and the timing was bad school wise, I felt it was a sound investment in the long run. I have a feeling in the not-to-distant future I’m going to be telling my wife “I told you so…”

In talking to a co-worker ‘in the know’ recently (retired USMC), he claims that DC will take a harder hit than SD. Maybe because SD has already seen reductions….

In fact his comments echo USMCbunny’s comments regarding the DC workforce.

That being said we have already seen reductions since the start of the year.

I’m going to get myself in a better position to move (if that becomes necessary) and shorten my commute at the same time, in fact we looked at rental properties in San Elijo Hills this past week.

There is no way I would buy another house in either Temecula or San Diego as I don’t see being employed in this area for the next 30 years.

[paramount]

flu: I think your observations are accurate and your advice is well taken. I felt moving to DC was a flight to safety – an offensive move. And while I was being offered a relo package, it didn’t even come close to covering expenses. Under more normal circumstances I would have put our house up for sale and moved on, but since we are underwater that wasn’t really an option.

So even though the move was going to cost me $$$$ and the timing was bad school wise, I felt it was a sound investment in the long run. I have a feeling in the not-to-distant future I’m going to be telling my wife “I told you so…”

In talking to a co-worker ‘in the know’ recently (retired USMC), he claims that DC will take a harder hit than SD. Maybe because SD has already seen reductions….

In fact his comments echo USMCbunny’s comments regarding the DC workforce.

That being said we have already seen reductions since the start of the year.

I’m going to get myself in a better position to move (if that becomes necessary) and shorten my commute at the same time, in fact we looked at rental properties in San Elijo Hills this past week.

There is no way I would buy another house in either Temecula or San Diego as I don’t see being employed in this area for the next 30 years.

[patb]

Flu writes
“And generally, their quality of life is better (8-6 hours, not the unpaid overtime crap like some three letter defense company subjected people to)”

Um I was in the last defense turn down in 89, and lets say programmed unpaid overtime was built in,
the managers were running around screaming and one Navy manager conducted a RIF by actually shooting 3 staffers.

The Traffic is awful, it’s worst in the nation, the city is an Asshole magnet, and properties are still floating on bubble era pricing.

[patb]

Flu writes
“And generally, their quality of life is better (8-6 hours, not the unpaid overtime crap like some three letter defense company subjected people to)”

Um I was in the last defense turn down in 89, and lets say programmed unpaid overtime was built in,
the managers were running around screaming and one Navy manager conducted a RIF by actually shooting 3 staffers.

The Traffic is awful, it’s worst in the nation, the city is an Asshole magnet, and properties are still floating on bubble era pricing.

[patb]

Flu writes
“And generally, their quality of life is better (8-6 hours, not the unpaid overtime crap like some three letter defense company subjected people to)”

Um I was in the last defense turn down in 89, and lets say programmed unpaid overtime was built in,
the managers were running around screaming and one Navy manager conducted a RIF by actually shooting 3 staffers.

The Traffic is awful, it’s worst in the nation, the city is an Asshole magnet, and properties are still floating on bubble era pricing.

[patb]

Flu writes
“And generally, their quality of life is better (8-6 hours, not the unpaid overtime crap like some three letter defense company subjected people to)”

Um I was in the last defense turn down in 89, and lets say programmed unpaid overtime was built in,
the managers were running around screaming and one Navy manager conducted a RIF by actually shooting 3 staffers.

The Traffic is awful, it’s worst in the nation, the city is an Asshole magnet, and properties are still floating on bubble era pricing.

[Author]

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