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D.C. Area Housing Market Cools Off
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D.C. Area Housing Market Cools Off
by vic » Mon 25 Jul 2005, 15:40:25
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by BabyPeanut » Mon 25 Jul 2005, 15:51:32
$this->bbcode_second_pass_quote('', 'T')he average number of days a house stays on the market has crept up by two days in Fairfax County, to 16 days in June from 14 days a year earlier. In Montgomery County it has risen to 20 days from 18 days, according to MRIS. Those are, however, still short turnaround times by historic standards.
OMG! 16 to 20 DAYS ON THE MARKET! SAVE OUR CHILDREN!
I don't think the bottom has dropped out of the DC housing market by a long shot yet.
Frankly, there are a lot of junky houses out there with high price tags on them and they won't move because they are crap and only a fool would move there. Meanwhile, quality houses are still becoming more insanely unaffordable.
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by MicroHydro » Mon 25 Jul 2005, 16:15:35
As long as Reston real estate values are stable, you know that TPTB aren't planning a false flag attack on their own suburbs.
"The world is changed... I feel it in the water... I feel it in the earth... I smell it in the air... Much that once was, is lost..." - Galadriel
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by FoxV » Mon 25 Jul 2005, 16:43:49
its certainly not the collapse yet. but...
$this->bbcode_second_pass_quote('', 'L')ocal real estate brokers say they are seeing signs of a change.
$this->bbcode_second_pass_quote('', 'L')ocal real estate brokers say they are seeing signs of a change.
is a very telling statement
looking at the detail what they're talking may be subtle changes but I think they're indicators of the final days of the housing bubble.
It won't be long now before the sentiments mentioned in the article snowball into a full blown collapse. And considering that the housing bubble is propping up the US economy, brace yourselves for one really loud POP!
I'm glad to see that all this is going to happen before the new bankruptcy laws kick in
Angry yet?
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by brobak » Mon 25 Jul 2005, 16:56:31
I am in the middle of selling my house, which is right outside of DC, in the 20785 zipcode. I am going to closing on the 17th of august. I feel like I'm getting out right under the wire.
I actually feel kind of bad for the people who bought my house. They are getting a fine house, but they are paying more than double what I paid for it 4 years ago. (144k vs 330k).
I've already got my land out in west virginia, and am working on the specifics of my earth sheltered home plans now with www.terra-dome.com Hopefully the home will be done by spring and I can move in there, and get away from this city. I just hope things hold off until I can move out there. It never seems like there's enough time!
Sidenote: The house was on the market officially for around 10 days before the offer came in. I have two offers on the house, one at 330, and one at 320. House is 1340 sq ft single family home on 1/5th an acre, brick built in 1948. Nothing special except I refinished the hardwood floors, which cover 1100 of the 1340 sq ft of the home. Its in Prince George's County, near the Orange Line metro rail.
I actually feel kind of bad for the people who bought my house. They are getting a fine house, but they are paying more than double what I paid for it 4 years ago. (144k vs 330k).
I've already got my land out in west virginia, and am working on the specifics of my earth sheltered home plans now with www.terra-dome.com Hopefully the home will be done by spring and I can move in there, and get away from this city. I just hope things hold off until I can move out there. It never seems like there's enough time!
Sidenote: The house was on the market officially for around 10 days before the offer came in. I have two offers on the house, one at 330, and one at 320. House is 1340 sq ft single family home on 1/5th an acre, brick built in 1948. Nothing special except I refinished the hardwood floors, which cover 1100 of the 1340 sq ft of the home. Its in Prince George's County, near the Orange Line metro rail.
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by The_Virginian » Mon 25 Jul 2005, 17:59:04
Well it's brick vs. stick and it was made in 48' so it is probly solid.
Not worth 330K IMHO, but if they get a fixed mortgage they got a decent home at least.
The home we sold out of in Norfolk VA. was not even a good home, would have to be torn down in 30 years max. (poorly made stick home from 82') Since it was sold (3 yrs ago) it is now worth 30K more...but we made money so I guess I should be happy.
Not worth 330K IMHO, but if they get a fixed mortgage they got a decent home at least.
The home we sold out of in Norfolk VA. was not even a good home, would have to be torn down in 30 years max. (poorly made stick home from 82') Since it was sold (3 yrs ago) it is now worth 30K more...but we made money so I guess I should be happy.
[urlhttp://www.youtube.com/watchv=Ai4te4daLZs&feature=related[/url] "My soul longs for the candle and the spices. If only you would pour me a cup of wine for Havdalah...My heart yearning, I shall lift up my eyes to g-d, who provides for my needs day and night."
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