6016 OMEGA LN
MANASSAS, VA 20112
List Price: $377,500
Prior Sale: $555,741 8/9/2005
Listing Date: 08/11/07
-32.1%
13504 PHOTO DR
WOODBRIDGE, VA 22193
List Price: $280,000
Prior Sale: $412,000 12/21/2005
Listing Date: 08/04/07
-32.0%
17004 LOFTRIDGE LN
GAINESVILLE, VA 20155
List Price: $399,900
Prior Sale: $565,000 9/26/2005
Listing Date: 08/08/07
-29.2%
16815 SWEENEY LN
WOODBRIDGE, VA 22191
List Price: $351,000
Prior Sale: $475,000 10/3/2005
Listing Date: 08/08/07
-26.1%
4090 YELLOW STONE LOOP
DUMFRIES, VA 22025
List Price: $318,999
Prior Sale: $384,000 8/1/2005
Listing Date: 05/16/07
-25.8%
15062 ARDMORE LOOP
WOODBRIDGE, VA 22193
List Price: $277,900
Prior Sale: $368,000 6/1/2005
Listing Date: 08/02/07
-24.5%
4237 JONATHAN CT
DUMFRIES, VA 22025
List Price: $250,000
Prior Sale: $330,000 5/24/2005
Listing Date: 08/09/07
-24.2%
19229 POTOMAC CREST DR
TRIANGLE, VA 22172
List Price: $515,000
Prior Sale: $678,775 10/3/2005
Listing Date: 08/10/07
-24.1%
10414 EDISTO CT
GAINESVILLE, VA 20155
List Price: $429,900
Prior Sale: $562,763 12/14/2005
Listing Date: 08/14/07
-23.6%
9495 MOUNTWOOD DR
MANASSAS, VA 20110
List Price: $504,000
Prior Sale: $659,350 12/28/2005
Listing Date: 08/11/07
-23.6%
15026 CARDIN PL
WOODBRIDGE, VA 22193
List Price: $239,900
Prior Sale: $313,000 7/31/2006
Listing Date: 08/11/07
-23.4%
14331 SILVERDALE DR
WOODBRIDGE, VA 22193
List Price: $284,900
Prior Sale: $350,000 1/26/2006
Listing Date: 08/07/07
-18.6%
8922 TAPPEN MILL WAY
MANASSAS, VA 20109
List Price: $365,000
Prior Sale: $442,640 11/2/2005
Listing Date: 08/10/07
-17.5%
1707 VONNIES VIEW CT #122
WOODBRIDGE, VA 22192
List Price: $259,900
Prior Sale: $305,000 6/23/2006
Listing Date: 08/10/07
-14.8%
7312 CASTLE RD
MANASSAS, VA 20109
List Price: $374,900
Prior Sale: $440,000 3/31/2006
Listing Date: 08/04/07
-14.8%
8213 HONEYSUCKLE RD
MANASSAS, VA 20112
List Price: $563,900
Prior Sale: $659,000 9/1/2005
Listing Date: 08/06/07
-14.4%
7208 BLADEN PL
GAINESVILLE, VA 20155
List Price: $570,000
Prior Sale: $662,965 2/28/2006
Listing Date: 08/09/07
-14.0%
4007 SAPLING WAY
TRIANGLE, VA 22172
List Price: $597,000
Prior Sale: $692,360 2/16/2006
Listing Date: 08/14/07
-13.8%
14808 MOZAMBIQUE CT
HAYMARKET, VA 20169
List Price: $598,500
Prior Sale: $694,415 3/16/2005
Listing Date: 08/12/07
-13.8%
8451 LANIER OVERLOOK CT
BRISTOW, VA 20136
List Price: $539,900
Prior Sale: $610,483 4/24/2006
Listing Date: 08/08/07
-11.6%
9509 MOUNTWOOD DR
MANASSAS, VA 20110
List Price: $634,900
Prior Sale: $715,000 11/27/2006
Listing Date: 08/08/07.
-11.2%
6709 AINSWORTH ST
GAINESVILLE, VA 20155
List Price: $474,000
Prior Sale: $531,430 11/16/2005
Listing Date: 08/07/07
-10.8%
6886 WITTON CIR
GAINESVILLE, VA 20155
List Price: $375,000
Prior Sale: $419,900 2/10/2005
Listing Date: 08/14/07
-10.7%
1242 CORBETT PL
WOODBRIDGE, VA 22191
List Price: $349,000
Prior Sale: $389,900 8/7/2006
Listing Date: 08/08/07
-10.5%
16443 KRAMER ESTATE DR
WOODBRIDGE, VA 22191
List Price: $649,900
Prior Sale: $724,548 10/27/2005
Listing Date: 08/08/07
-10.3%
7405 ROKEBY DR
MANASSAS, VA 20109
List Price: $224,900
Prior Sale: $250,000 5/2/2005
Listing Date: 03/22/07
-10.0%
3816 CORONA LN
WOODBRIDGE, VA 22193
List Price: $310,000
Prior Sale: $340,000 5/2/2006
Listing Date: 08/08/07
-8.8%
16504 BOBSTER CT
WOODBRIDGE, VA 22191
List Price: $409,000
Prior Sale: $447,505 7/22/2005
Listing Date: 08/10/07
-8.6%
9001 MERLOT CT
BRISTOW, VA 20136
List Price: $530,000
Prior Sale: $574,352 8/29/2006
Listing Date: 08/09/07
-7.7%
14512 PENDERLEA CT
GAINESVILLE, VA 20155
List Price: $549,900
Prior Sale: $585,790 9/1/2004
Listing Date: 08/12/07
-6.1%
11846 CRITTON CIR
WOODBRIDGE, VA 22192
List Price: $340,000
Prior Sale: $350,000 7/8/2005
Listing Date: 08/09/07
-2.9%
Wednesday, August 15, 2007
Prince William County -- On the Market
Posted by Harriet at 9:07 AM
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10 comments:
I'm not worried overall, I just bought a place in a new community (planned to be completed over the next 3-4 years, so still early in the development) in PWC near a VRE and some other higher end shopping stores currently being built. I love the community and love the place that I got, got a 30 fixed mortgage that I can afford, and plan on staying put for at least 5-7 years.
I actually think the market is fairly good for buyers who know what they're doing and plan on staying put for a reasonable amount of time. There's a lot of free money and incentives being thrown at you by sellers and mortgage rates are still pretty low.
Do I think I bought at the very bottom of the market? No, but I do think I've bought very near the bottom, and plan on staying put for a while as I mentioned earlier. The market will come back.
Sorry to rant, I just don't think there will be the complete collapse that some doom and gloomers like to portray. The positives for me and my family simply outweigh the negatives(having a significantly greater amount of living space for a comparable price, being settled and not having to move from rental to rental).
My point is simply this: If you are smart about buying, and can find something you really love, there are good deals to be had and purchases can be made that will benefit you IF you educate yourself and buy for more reasons than just to make money.
Interesting post William.
I have likely looked at some very similar areas to where you just bought.
PWC is getting hit far harder so far by the bursting bubble and there are some pretty good deals to be had if you do your homework. I personally believe prices out there are going to continue to fall for a while yet, but like you said it isn't necessary to try to wait for the absolute bottom. I expect to buy sometime in the next 9-18 months depending on various factors and I doubt it will have completely bottomed out by that point either.
"Sorry to rant, I just don't think there will be the complete collapse that some doom and gloomers like to portray. The positives for me and my family simply outweigh the negatives(having a significantly greater amount of living space for a comparable price, being settled and not having to move from rental to rental)."
Most of the really outlandish claims attributed to bubble watchers aren't really widely held beliefs. There are of course a relative handful of people predicting 50%+ price declines and global economic doom, but for the most part that isn't really what people expect. I hear those numbers a lot more from the various trolls than actual bubble watchers.
"My point is simply this: If you are smart about buying, and can find something you really love, there are good deals to be had and purchases can be made that will benefit you IF you educate yourself and buy for more reasons than just to make money. "
Of course, a smart buyer will always be able to beat the market by some extent, but the same smart buyer will get a much much better deal today than a year ago simply because the whole market has dropped.
I think few people here are planning on becoming RE investors. Most of us are simply trying to get the most for our money.
William,
Congratulations! I think buying now with a 30-year fixed sounds good for you; you got a tremendous discount over buying one or two years ago, and you're not in a risky loan that you can't handle. Be at peace and have fun painting and landscaping.
We had a sale in our neighborhood just go through for $540K, and the sellers spent $500K in 2003. Prices swung as high as $725K two years ago. The buyers overlooked all the other listings in the neighborhood (same exact houses all built in 2003) that were (and still are) priced unrealistically at 100K+ higher.
Leroy said:
"Most of the really outlandish claims attributed to bubble watchers aren't really widely held beliefs. There are of course a relative handful of people predicting 50%+ price declines and global economic doom, but for the most part that isn't really what people expect."
When I read this I had to wonder why we've been disagreeing?
But then I went on to read this:
"I hear those numbers a lot more from the various trolls than actual bubble watchers."
And I remembered ... yes, he wants to be a homeowner, he really really wants to be ... and he knows what he's doing, BUT he's so afraid of going forward, that he has to put down and disparage those that have gone forward and successfully accomplished that which he wants to do ... but can't quite push himself to do.
Good luck resolving your inner conflict Leroy.
"And I remembered ... yes, he wants to be a homeowner, he really really wants to be ... and he knows what he's doing, BUT he's so afraid of going forward, that he has to put down and disparage those that have gone forward and successfully accomplished that which he wants to do ... but can't quite push himself to do."
Heh... that must be it lance... In fact, anyone that doesn't rush out and buy RIGHT NOW must be scared. Anyone that takes the time to save up a down payment rather than just borrow more is only doing it because they are scared. Anyone that waits until the new model year cars come out to go shopping for the current model is scared. Anyone that waits until the day after Christmas to buy wrapping paper and some new lights for next year is scared.
Seriously, this sounds like an argument a fourth grader would come up with.
If you think instant gratification is worth hundreds of thousands of dollars then that is your business, but I choose to run my business in a different manner. It has nothing to do with "fear" and everything to do with being financially responsible.
Oh yeah, and I have at no point disparaged those who have "successfully accomplished" a home purchase. If William is pleased with his purchase then I wish him the best.
BTW, I notice you haven't posted your data on historical foreclosure rates in Northern VA.
Can I go ahead and assume that once again you have no support for your argument?
Thanks for the encouragement guys. I've finally developed the courage to start posting a little on this blog, and not getting yelled at or told that I'm in for a lifetime of financial woes was very refreshing. If I had posted this on a few of the other sites I frequent I'm sure the reaction would have been different.
Here's a link to the community site at which I bought:
www.potomacclub.com
And Harriet, I look forward to painting but one of the perks (at least in my mind) about the place I bought was no landscaping for me as it's all done by the HOA!
Keep up the good work!
Leroy-
just wanted to reiterate that I really felt your post was encouraging while relatively unbiased towards the bubble head point of view. Just because some folks think you "disparage those that have gone forward and successfully accomplished that which he wants to do" doesn't mean you do.
The market ain't as great for buyers as you'd like to make it out to be Lance, and buying a home isn't right for everyone, even though you seem to portray such opinion as fact.
"Can I go ahead and assume that once again you have no support for your argument?"
Since Lance makes a hobby of demonstrating that, then yes.
"just wanted to reiterate that I really felt your post was encouraging while relatively unbiased towards the bubble head point of view. Just because some folks think you "disparage those that have gone forward and successfully accomplished that which he wants to do" doesn't mean you do. "
Thanks, it was never my intention to put down anyone that has bought. I know that everyone's circumstances are different and there of course isn't a one size fits all solution.
I don't think most people are cheering for pain and suffering. There will no doubt be plenty of that to go around, but it will for the most part land on all the wrong people.
Congratulations, William! Hopefully this is a good deal for you and yours. Buying now is a tough decision. Two years ago it was a no-brainer. You have a solid plan and I wish you well.
If you have a family I imagine PWC is a good area. Thankfully my kids are adults so "family ameneties" wouldn't be a draw for me.
Also thankfully I am not emotionally vested in this area. I was recruited to work here for a set period of time. I am headed South as soon as my commitment to my employer and my country is up.
I have had 5 houses and currently own one in my hometown. My rule has always been: put at least 10% down, never buy in a fast appreciating boom market (the end could be around the corner), and get a fixed rate loan with a lender that is solid and whose mortgage requirements are tough. Before moving here I added another rule to my house buying principles: Never own a mortgage of $700,000 for a house that is worth $500,000 at best.
Good money management and wise investments have left me in a very comfortable place. I am a most fortunate person and I have Warren Buffet to thank. His principles taught me: Buy only what you can afford or you can afford to lose and not jeopardize family and stability. Never devote more than 30% of your disposible income to housing whether it be mortgaged or rented. Save and invest wisely. Befriend economic specialists one can trust with a track record of success (and I am not talking about a relative or friend in real estate). Hire a reputible CFP with whom you keep constant friendly communication. Read and study as much about finance as possible just so you know what the CFP is talking about. Never let a job become one's life. Laugh a lot and help people when and where you can. (If I were house-poor I would not be able to do that.)
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