Frankly Realty Blog
VirginiaMLS has updated its Northern Virginia inventory as of April 19.
Total Listings:
4/19/2009: 9,342
4/19/2008: 18,681
4/19/2007: 16,158
4/19/2006: 16,641
4/19/2005: 3,590
A note in my inbox from William Lohr at Long and Foster: "The Drees company raised prices on two home models in Glenkirk Estates today. $429,900 to $470,900 and $419,900 to $460,900".
7 comments:
Almost all of that inventory change from 2006 is in the outer counties--not nearly as much change in numbers or percentage in the inner areas.
Does this mean the inner areas never got as bad, or hasn't improved (after "exhaustion") as much yet?
I think this is an age-old question probably already discussed/answered a lot of times on here...
B of A's short sale policy changes .
Second liens and heloc's being more easily released by major banks so that short-sales can go through, banks retaining the right to go after the borrower for a deficiency judgement later.
"Scott said...
Does this mean the inner areas never got as bad, or hasn't improved (after "exhaustion") as much yet?"
Probably more of the former than the latter Scott. For example, if you compare the available inventory to the number of owned homes in each county, you see the following:
County - % of owned homes for sale
Apr 2009
Arl - 1.8%
Alx - 2.1%
Ffx - 1.5%
Lou - 2.3%
PWC - 1.8%
Relatively tight grouping. However, it didnt look this way one year ago.
County - % of owned homes for sale
Apr 2008
Arl - 2.0%
Alx - 2.8%
Ffx - 2.7%
Lou - 4.3%
PWC - 5.7%
This clearly suggests that in Apr 08, the outer areas had a quite bit of excess to work off before they got in line with the inside the beltway areas. One year later, it looks like they are pretty much all in line.
Cramer is awesome. His stock picks, like Sirius, Bear Stearns, etc., etc. have made me filthy rich. Oh wait...All of CNBC is just a bunch of cheerleaders and Cramer is the head cheerleader.
Article from 2007:
"Over the past two years, viewers holding Cramer's stocks would be up 12% while the Dow rose 22% and the Standard & Poor's 500 Index ($INX) gained 16%, according to a record of 1,300 of the CNBC star's "buy" recommendations..."
tbw,
Fannie and Freddie both have new rules for condo loans they'll accept. Googgle on that and you should find them. It's at least 30% down, 50% in down markets (which I'm pretty sure Arlington doesn't count as, but it must be possible to find out).
Thanks Harriett!
Did you see the WSJ today talking a out bank bidding wars?
Frank
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