Continuing to examine and hold a lively discussion of the Northern Virginia Real Estate market.
Please post your local house search updates, MLS finds, off-topic ideas, and links here.
Take a look at this listing. http://www.redfin.com/stingray/do/printable-listing?listing-id=1661397The agent acts as though we should be running for this $400,000 "future star" on Braddock Road! For $400,000, you don't even get a master bath. Her description is absurd."Let's GET REAL! * It's a Foreclosure+It's NOT cute nor cozy+ Needs some serious rehab. .. BUT! then it can be a Star! & it's Priced for Future Stardom!Bath in Master is 'gone'. .. get over it+This is a BIG house for LITTLE dollars+Terrific Back Yard+And, possibly THE BEEST SCHOOLS in NoVa+2%SP Assist w Clos. Costs & $2500 fix up credit+. .. .Let's Make a Deal!"
Wow. Thank you for brigtening my Monday. That is hillarious. Ms. Northam sounds very frustrated. Understandable. For me, you'd have to knock off another $150K before I'd be willing to live in that area. And the necessary repairs?I think I'll add this one to my watch list for some fun.
She might as well bulldoze that POS and sell it as land.
Had an idea about all the posters of this board making predictions of the local housing market. It would go like this: Create a spreadsheet on the front page to host our predictions.Everyone then makes a prediction on when the DC metro housing market will turn around. What defines a turnaround? I would say two quarters of postive growth in the DC Metro median house price. So you need to pick the 2nd quarter of positive growth.I just thought it would be fun/interesting to see what everyone's thought on a turnaround is.Who knows maybe we could put some money on it. My Prediction:4th quarter 2009
Steve,That's a fun idea. I'll try to get to it soon.
You'd also have to define DC Metro for that to really be complete. If you define to narrowly or too broadly it could really affect the timeline.My prediction for NOVA (Arlington, Alexandria, Fairfax, Loudon, Prince William, Manassas, Stafford and Faquier cities and counties) is that we won't see a second quarter of median price increase until 3rd quarter 2012.
My guess is around 2016.
i'd offer maybe 200k for that 'future star'.
For the DC Metro area I figure we could use what is defined by the National Association of Relators on Single Family Homes.http://www.realtor.org/research.nsf/Pages/MetroPriceSo to Recap that 2005 - 425.8 k2006 - 431.02007 - 430.8Q1 - 427.5 Q2 - 445.3Q3 - 437.6Q4 - 400.1
Be careful how you define a “turn-around.” If you just look at price without controlling for location and quality you can get all sorts of weird results. I suggest you use two quarters of increasing sales price along with two quarters of decreasing inventory. Assuming stable supply (probably a bad assumption), that would indicate that demand is increasing in two consecutive quarters.
EEKS. The Braddock Road place. You don't need a master bath with three generations jammed into the house. Just use the kitchen sink in a pinch. Color scheme reminiscent of the Old Country clothing bazaars. Paint job done with meticulous precision, seen in cultures which disdain manual labor. Same cultures spawn worst drivers in the world - driving yourself constitutes manual labor. Hope their H1Bs expired.
slogan74, same here thanks for the laugh and smile here. :)zapoteca, you would not believe the "decorating" choices that I saw in my two months of searching for a home. yikes! I mean I have been to Mexico and the Caribbean, and visited local homes there - and the color choices I saw here are no where near normal. One place had orange paint that left my agent, my decorator, and myself leaving with a headache!
Hey Slogan74, just use www.FranklyMLS.com/MLS# Your URL was too long to see.
I thought realtors were not supposed to comment on the quality of schools in a given area?"possibly the BESST SCHOOLS in NOVA..."Is the qualifier "possibly" what allows for the comment?
ZMonet said... "I thought realtors were not supposed to comment on the quality of schools in a given area?"possibly the BESST SCHOOLS in NOVA..."Is the qualifier "possibly" what allows for the comment?"I think as long as it's backed up by stats, they could make that comment without the "possibly" qualifier. I.e., if there are reports grading schools in Nova, and this is at the higher end in those reports, then the statement is true ... and not descriminatory. However if there aren't such reports out there then the real estate agent would be opening themselves to the possibility that they made that judgement based on things like the racial makeup of the neighborhood. I.e., Good/Bad Education is not a protected class of individuals, and it's okay to be discriminatory for/against it ... but if you're basing your statement on whether the good/bad education is happening because of (or lack thereof) of a protected class, then you've been discriminatory in a way the law does not allow. It's possible that the agent didn't understand the difference and was just covering her bases. Also, I think I saw "redfin" in the email address in that ad ... Didn't I read on here recently that Redfin is a "For Sale By Owner" type site? (I.e., is this the owner writing the ad?)
Zmonet,Frost Middle and Woodson High are among the best schools in the area according to some rankings (e.g., News Week, GreatSchools.com). Of course, one can raise questions about the methodology used to rank schools. For instance, the US News rankings and Newsweek rankings differ widely. Anyway, I have seen many, many listings where agents mention something about schools. I think they should specifically mention the source for the claim, but otherwise it should not be a problem.
Yes ZMonet, You are correct. They are also supposed to spell stuff correctly.Frank
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