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.
Case Shiller out for March 2010. DC area down 0.68% to 175.28 from february 2010. High Tier (>$422,900) suffered the most, down 1.16%.
I think I get full marks on my CS prediction of of 175.3 +/- 0.3.The number just came out and we are at 175.28, which is down 0.7% from last month. The 10 city index is down 0.4%. The west cost and new york showed strength and the middle of the country appeared to be the weakest.The the low and mid tier housing (<275K, 275K-423K) were down .3% and .1%. The big drop was in upper tier housing 423K, which was down 1.2%.This continues to re-affirm many of our beliefs that wealthier people may have avoided quick drops in their house prices due to foreclosures, but slowly we will see these prices come down to prices that can be supported by the market.Not necessarily a its moving in argument, but instead a its moving up argument.
Shamrock-It looks like you beat me to the data :)
Wow, housebuyer, that is one impressive prediction! You do get full marks. Cara gets honorable mention.Any predictions about the stock market (just kidding)?
http://franklymls.com/DC7323807 flip to watch. purchased for $100K few dollars invested...now for sale for $229K...
well done hb.Ace, double dip in housing & economy could lead to drop in stocks...I am not a market predictor...just a thought.
spider, thanks, the market has been in free fall (big dip) for several weeks now. Would Warren Buffett say now is a time to "be greedy when others are fearful"?
Ace,WB won't say that till he's done w/ buying on the cheap... :)
This article seems to be claiming that there is a whole lot more pent up supply than pent up demand out there. None of today's articles about the CS numbers (that I've read anyway) seem to be talking about the so-called "supply pulled forward" that was a popular theory on this board a couple of weeks ago.
VA_Investor,Four listings owned by one ANGEL RIVERO of Arlington recently went on the market. Do you know this guy by any chance? He appeared to be quite successful finding RE deals...
Jeremy,Well if most of the country is in the situation of a large bulk of pent-up supply, then our mini-theory for our micro area wouldn't be very important on that scale, would it?At a guess most markets are not under 6 months of inventory...
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