14224 FISHER AVE
WOODBRIDGE, VA 22191
List Price: $124,900
Prior Sale: $376,000 9/12/2005
Listing Date: 03/31/08
-66.8%
1611 FRANCES DR
WOODBRIDGE, VA 22191
List Price: $120,000
Prior Sale: $355,350 5/1/2006
Listing Date: 03/09/08
-66.2%
9726 LAFAYETTE AVE
MANASSAS, VA 20109
List Price: $156,850
Prior Sale: $455,000 3/21/2007
Listing Date: 03/27/08
-65.5%
12000 VINT HILL RD
BRISTOW, VA 20136
List Price: $140,000
Prior Sale: $375,000 1/11/2006
Listing Date: 03/24/08
-62.7%
13417 GREENACRE DR
WOODBRIDGE, VA 22191
List Price: $145,000
Prior Sale: $380,000 11/2/2006
Listing Date: 03/20/08
-61.8%
9312 BAKER ST
MANASSAS, VA 20111
List Price: $129,900
Prior Sale: $338,000 9/12/2005
Listing Date: 03/15/08
-61.6%
See Prince William County 4/2/2008 for more comparisons from this week's listings.
(Links by FranklyMLS.com)
Wednesday, April 2, 2008
Prince William County -- On the Market
Posted by Harriet at 11:14 PM
Subscribe to:
Post Comments (Atom)
8 comments:
Harriet - thanks for another update. The link to the longer list of PWC properties appears to be unopen to public viewing.
John,
Thanks for letting me know. Google seems to have issues late at night.
It should be fixed, now.
It's interesting to see some of those houses selling for less than 2002 or 2003 prices. I have long expected it, but for many it is an eventuality that they thought would never occur.
With prices on many of these properties down by 60% or so, I think the prices are back to reasonable levels. That doesn't mean the market won't overcorrect and drive down prices even further, but these levels are about what makes sense.
I wonder when the MRIS figures will finally catch up.
"I think the prices are back to reasonable levels."
Those prices won't seem so reasonable when gasoline goes to $5 a gallon or more. The simple fact is that most people can no longer afford to live in these neighborhoods. And those that still can wouldn't want to.
All these listings are in communities 20-30 miles away from DC. Hour driving time easy, two hours possible on a bad day. They are disconnected from this area. But the prices on these homes are used to argue that the prices on the homes in my area, NW DC, are going to crash as well. It's the implosion argument.
None of my neighbors want to live 25 miles outside of the city. They like it here. And I don't see these drama prices represented in this list as meaningful. Now, I agree prices got out of whack in DC and , they might actually fall some. But I don't buy the implosion theory -- that crashing prices in godawful Woodbridge are torpedos aimed at valued in the heart of DC.
kob, You could actually make the opposite argument - that because demand is still strong due to employment, etc., the more the outer suburbs drop, the more the close-in locations will go up. If there are still a lot of people willing and able to buy, they may now be saying no to the long, expensive commutes and risky neighborhood conditions, and crowding into the competition for the homes without either of these.
Harriet,
Isn't this "new listing" your infamous White House mansion? Or are there more of these dreaful homes out in Haymarket?
14961 STREAM VALLEY CT
HAYMARKET, VA 20169
Price: $3,950,000
Here are a couple other steep discounts for new listings:
8813 BROWN THRASHER CT
GAINESVILLE, VA 20155
Price: $499,000
Last Sale: $786,965 1/03/2006
14409 PARULA WAY
GAINESVILLE, VA 20155
Price: $329,900
Last Sale: $572,250 10/10/2006
But other new listings, purchased just a couple years ago, are asking $100K, $200K, and even $500K more than the last purchase, and hundreds of thousands of dollars more than assessed value. What are their realtors thinking? What are the sellers thinking? I thought banks will not approve loans for prices even a little over assessed value right now. What's up with that?
Oh, there it is again!
My Haymarket White House.
Post a Comment