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Tuesday, June 10, 2008
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14 comments:
I live on the same block as a realtor (actually three realtors) in Old Town (okay - so does everyone in Old Town). This woman is a long-time pro and one of the long-time icons in beautiful 22314, and a lovely, no-bull**** person to trade local house-gossip with.
She told me last night she had just sold a previously listed and withdrawn listing on our block to another realtor relocating from another cushy spot in the DC area (reading between the lines - this is someone who is actually downsizing to an 800k house), and pointed out that we would now have four realtors on our block (about 22 houses, total), although one is probably leaving the business, soon, she thinks.
It's a funny block - 3 or 4 realtors, a handful of retirees (including a few young, made-their-big-money-already retirees), one 4 unit rental, one short-term-rental (esstentially, a mini-B&B), a few other rentals - and I think just about 5 or 6 homeowners with normal jobs - (including myself).
If a lot of blocks are like this in Old Town - and things continue to trend down - I could see a lot more Old Town inventory come on the market, as people who don't really work decide to decamp elsewhere, or rental owners (even those with positive cash flow on the place they've owned for a decare or two) decide to get out of the game before the asset drops futher.
On the other hand - close-in probably looks even a little better in the era of $4 or $5 gas.
It's just interesting to think about who your neighbors are, and what that might mean for prices in the future.
Has anyone visited Bubble Meter lately? David has taken on a co-blogger, James, to help out as he has 'blogger's fatigue'. Unfortunately, it's looking like James is using the board to post articles promoting his personal agenda ... and nothing else. There are something like 6 new blog postings since James joined on, but zero comments on any of the postings ... I know that I've personally submitted at least 2 comments "for approval" ... Too bad Bubble Meter has been transformed from a blog where thoughtful discussion was possible to one that is essentially nothing more than a mouthpiece for one individual and his ideas and (in my opinion) more than slightly skewed perspective.
Harriet, thanks for continuing the hard work it takes to keep a good blog going. And if James offers to "help you out", please tell him NO THANK YOU!
zeropointzero, interesting comments. Old Town is probably on the list of favorite areas of just about everyone who knows about or lives in the metro area. Hope it retains its great character no matter what. I would imagine it is next to impossible for retirees both to afford it and to walk the many stairs in the townhomes.
Lance, you're right, we all owe Harriet a big round of applause and thanks for an informative, interesting blog. (the crowd goes wild!)
I have this weird conspiracy theory that Lance=Harriet which would demonstrate a truly insightful mind.
Amy said...
"I have this weird conspiracy theory that Lance=Harriet which would demonstrate a truly insightful mind."
LOL ... back on Bubble Meter there were a few folks who swore Lance=David. Which only goes to backup my feelings that BHs are prone to believing in conspiracy theories ... Though I guess only Harriet and I can appreciate my last thought, since the rest of you all think Harriet just said that to throw you off the Lance=Harriet scent.
Bests,
Harriet ... er ... I mean Lance
;)
Lance,
I understand David's dilemma and have also considered how to take blogging breaks. There comes a point when everything you'd like to do can't be done, because it's a matter of taking too much time for something outside your "real" job.
I'm grateful for the readers here who contribute; blogs often work best as a group effort depending on their purpose.
Amy,
Like Dr. Jekyll and Mrs. Hyde? I'll take the evil role as I spread doom and gloom and fear . . hiding in my sinister exurban laboratory with no ethnic food around for miles . . .
All,
Where are those May MRIS results? It's the 10th -- "they" must be hiding something that if known would spread panic and rioting . . . or maybe "they" were eaten by killer tomatoes . . . I heard there was a nationwide tomato emergency . . .
Ace - it's funny you brought up the issue of retirees affording the neighborhood and navigating the stairs - as they both somewhat apply to the home I bought.
My house's previous owner had lived in the townhouse I bought for approx. 35 years as an unmarried state dept. employee. She had been retired for 20 years or so - and, was taking advantage of a paid off house and the fact that Alexandria will let seniors with significant equity in their homes defer property tax until sale (she paid several years of property tax, without penalty, out of the settlement).
Also - I think of her 80+ year-old legs on those steep narrow stairs all the time when I gingerly go up and down on them all the time, and think I'll never be able to do it as long as she did.
Old Town is great in a lot of ways - but there are definitely days I'd rather have a newer house without damp basement issues, or more yard all the way around the house, or easier parking (although it's not too bad except close to King Street), or easier ability to modify/change/repair without going though historic hoops.
"Harriet said...
Like Dr. Jekyll and Mrs. Hyde? I'll take the evil role as I spread doom and gloom and fear . . hiding in my sinister exurban laboratory with no ethnic food around for miles . . ."
Funny!
I too have been waiting with baited breath for the MRIS report - checking their site several times today (just in case you were asleep at the switch :). I have some whisper numbers from various realitor websites - none of which are confirmed yet:
Arlington:
Listings: 897
Sales: 209
Months of Inventory: 4.29
Average prices: -4.2%
Alexandria
Listings: 780
Sales: 174
Months of Inventory: 4.48
Average prices: -5.5%
Fairfax
Listings: 7084
Sales: 1217
Months of Inventory: 5.82
Average prices: -10.2%
MRIS where art thou?
Harriet-- Is there a way to make the chart available to everyone? I'm getting a notice from Google saying I don't have the right to access it.
Sorry, Sarah, I was knocked off there for a minute with the thunderstorm. I've posted the May numbers on the front of the blog, now.
Lance said...
“LOL ... back on Bubble Meter there were a few folks who swore Lance=David. Which only goes to backup my feelings that BHs are prone to believing in conspiracy theories”
Too funny Lance:
Lance said...
“One day on one of the Bubble Meter posts, someone mentioned that "Robert" was actualy David J. ... That he was using this alias to post without being recognized that the blog owner. Anyone know if that is true?”
5/14/08 6:53 PM
Robert,
What's your point? That I'm questioning the fact that a BH had mentioned a possible conspiracy? (i.e., that you were David's "voice" for things he couldn't say as "David"?) I never said I believed that ... No, one has to be predisposed to believing in conspiracies to believe something like that.
Lance said...
“What's your point? That I'm questioning the fact that a BH had mentioned a possible conspiracy? (i.e., that you were David's "voice" for things he couldn't say as "David"?) I never said I believed that ... No, one has to be predisposed to believing in conspiracies to believe something like that.”
Hilarious Lance.
So, when you asked:
“Anyone know if that is true?”
It’s not that you were entertaining the possibility, nooooooooo, it was your in depth analysis of a the market….
BWAWWWAAAawawawabwaWANAWBWAWaaawawawa
Robert:
"It’s not that you were entertaining the possibility, nooooooooo,"
Well ... perhaps for an instant I was ... I mean, how could I not be hanging with you all and not have some of that paranoia rub off on me!?!? ... I swear there are BHs driving by my house all the time /emphasis on sarcasm/
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