Home Buying in 20171>Question Details

Investor, Home Buyer in Herndon, VA

What is the potential capital gain on a condo in world gate herndon?

Asked by Investor, Herndon, VA Thu Mar 6, 2008

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Your potential gain is $43,872.

What is your potential gain if you buy a $1 Maryland Lottery ticket $37 Million.

Watching the 2 year profit-ship sail away... Priceless.
0 votes Thank Flag Link Thu Mar 6, 2008
You should never buy a property for 'potential appreciation'. That's partly why we're in the current market.
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0 votes Thank Flag Link Thu Mar 6, 2008
what I meant is what is the potential for appreciation of the condo unit if I want to buy it for investment purposes?
0 votes Thank Flag Link Thu Mar 6, 2008
What do you mean by "Capital Gain"? Are you talking about taxes on proceeds from the sale of a property (capital gains taxes) or potential appreciation?

If it's the former, you should speak with a tax professional.

If it's the latter, no one has a crystal ball so no one can give you a certain answer. In my professional opinion and experience, condos are the most volalitle type of property, but that can be good and bad. They go down fast, but they go up fast as well. I'm predicting that prices may dip down a few percent more by year's end, but will hold steady and go sideways over the next few years. If you're only going to be here for a few years (3 or less), you may want to consider renting. If you'll be here for over 3 years, then you may want to consier buying.

As far as Worldgate is concerned, it's a great location because it's situated next to the Toll Rd, businesses and tons of ammenities including the Clock Tower shopping center on the other side of the Toll Rd. Being able to walk across the street to the World Gate shopping center which includes Sport and Healty (gym) is a huge plus. The units are spacious and they're fairly easy to resell as long they're priced correctly.

If your question pertains to something else, let me know and I will address it.
0 votes Thank Flag Link Thu Mar 6, 2008
What are you talking about? Do you mean if you buy it now, or are you saying that you bought it 10 years ago and want to know what your Capital gain would be? Your question is too limited.
0 votes Thank Flag Link Thu Mar 6, 2008
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