Continuing to examine and hold a lively discussion of the Northern Virginia Real Estate market.
Please post your local house search updates, MLS finds, on-topic ideas, and links here.
This (Redfin) one showed up on my radar today. What caught my eye was the previous sell price. $800K! I figured that had to be a misprint, so I did some investigations. It isn't. Apparently the land was owned by a family for quite a while. The parcel was getting consistent tax appraisals at about $55K. Then they built a (big) house right before the bubble hit hardest, and sold it at peak. Those folks played it well.At a guess, the house and land are probably worth about $350K at current market.
Spectrum now delivering189 units (according to the listing) across the street from The Byron, next to the Broadway. I have no idea how many are sold.FCC has about 60 active listings total. If 120 units are still available at The Spectrum, then the real inventory is more like 180+.hog
Posted without comment:http://tinyurl.com/42m9uh
couldn't sell his home for a yearin waldorf .. what a dumba$$http://www.wtopnews.com/?nid=226&sid=1418100"I had inexperienced realtors coming through and people who fell in love with the house, but no contract ever came," Al says."The offers were insulting. It's like having a second job. I had had enough," Al says.
New listings in PWC:$404,9008650 WALES CtGAINESVILLE, VA 20155Last Sale: $529,941 (09/27/2004)listing says "no utilities on"$340,00014128 REDSTART Ct GAINESVILLE, VA 20155 Last Sale: $599,990 Apr 28, 2006 $419,9009516 MARK TWAIN Ct BRISTOW, VA 20136 Last Sale: $661,745 May 05, 2005 $269,90010212 BATTLEFIELD Dr MANASSAS, VA 20110 Last Sale: $439,000 Jun 01, 20063rd party approval$289,9009290 MATTHEW Dr MANASSAS PARK, VA 20111 Last Sale: $454,950 Jun 28, 2006$261,9009144 MILIC St MANASSAS, VA 20110 Sale history:Sep 12, 2005 $490,000 Mar 28, 2008 $530,149
Bas,We went to an open house this past weekend that had been vacant for a year. It was owned, for all appearances, by someone who had plenty of equity -- an older prominent citizen who had moved on to a new position and purchased a new house out of state.Why they wanted the headache of hanging onto it vacant for a year, I have no idea. After the first few weeks last year it should have been evident it was overpriced. It's a tract home, not something extraordinary. Now they're on their 2nd agent, and it's competing with REOs all over the place.CR had a decent point, I think, about the resale numbers today: "So the two key points from the Pending Home sales report are that prices are probably falling quickly, especially in the low end areas, and that sales are being propped up as REO sales start to dominate that existing home market. Neither point is good news for housing".I think REO sales might be dominating in Prince William, hence the uptick in sales. A quote from a local agent: "regular people aren't listing". It's not an easy time to be a private party lister because you really don't want to price like a REO. And as a buyer, you just wait for that special REO and compete against other bidders. Not much of a fun market, really.
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