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.
Without seeing the inside, I still think this home is overpriced 10-15%http://franklymls.com/AR7459287They're trying to sell it for what they bought it for in 2005.My $0.02
My2c,Let's see now...Per Arlington, that neighborhood hasn't declined much since 2005 (but the last assessment period ended June 2009). It appears there aren't many recent improvements (and the bath looks basic-grade), and with no photo of the kitchen, I imagine it's not so nice. But it appears the seller maintained it well.With the same disadvantage you mentioned, my guess is that it goes for around $560K. (That's assuming the seller can absorb that much of a loss, which with selling expenses could be considerable, unless she has employer help.)
my $0.02-At least they aren't trying to sell it so they can also recoup closing costs and Realtor commissions. They probably are also expecting to get less than list price, so at least unlike many people they are willing to take a loss (even if its only a small loss). You are probably right that the house is overpriced by 10-15%, but personally I don't think that is too bad of a place to start assuming they lower their price after 30-60 days and are willing to sell a few percent of list. I consider this a wishful thinking listing. Rather then a totally delusional listing.
$560K? this sold for $530K after DOM 165.
MM, did you see that house on McKinley? It wasn't very attractive.
MM, Katie,That McKinley house is also only about 50 feet from 66 and the metro is above ground at that point. Blech.My $0.02
WSJ article:FDIC Chairman Sheila Bair used her speech Wednesday at the nonprofit Urban Land Institute’s fall meeting attended by thousands of builders, lenders, brokers, and investors, to highlight what she saw as shortcomings in U.S. real-estate finance.Ms. Bair brandished a flyer she said she had received a few days ago. It came from a mortgage lender, she said, “offering 3.75% fixed-rate programs, up to 125% of value; 24-hour underwriting; instant approval.”“Sometimes I wonder: Have lenders really learned their lessons?” Ms. Bair said.
50 yard, 150 yard, same difference.metro is also above ground.neither is attractive.
such dumb remarks by Blair. lenders lend to maximize profit, the more the merrier. the lesson lenders really learned was Uncle Sam comes to the rescue when they screw up.
MM-I agree the mckinely house is a little closer to the metro, but both are really close. I wouldn't want either house but I can't imagine people won't accept 50 feet but they have no issue with 100 feet
ok, let's keep an eye on it and see what Kentucky sells for.
WSJ article:Prices of studios and one-bedrooms in Manhattan have taken a beating compared with bigger residences, as the demand from new home buyers runs out, tax credits expire and pickier buyers opt for bigger spaces. That has led Rebecca Goldfarb to settle on breaking even as she attempts to sell her Greenwich Village apartment. She is listing her renovated one-bedroom duplex on West 11th Street for $995,000. Rebecca Goldfarb in her West 11th Street duplex that's on the market."I can't sell it at the price I think it's worth," says Ms. Goldfarb, who bought the apartment in 2008 for $940,000. "People are shying away from anything over $1 million for smaller places, so my broker stressed that pricing has to start under that."The median sales price for studios in Manhattan declined by 8.5% in the third quarter from the previous quarter to $375,000, according to a report by appraiser Miller Samuel Inc. and property broker Prudential Douglas Elliman Real Estate. Median sales price for one-bedrooms declined by 4.5% from the prior quarter to $610,000.
Reuters Blog: The enormous mortgage-bond scandalhttp://blogs.reuters.com/felix-salmon/2010/10/13/the-enormous-mortgage-bond-scandal/Interesting read.
The Anon gets all mad at the bears but, the market went rotten during the bush administration and no decent choices were left.maybe Arlington resists teh laws of gravity forever, maybe inflation catches up and maybe the world normalizes.
Pat -- whats the deal with these partially coherent posts that invoke me when Im not even part of the conversation?And at 2AM? Late night bender perhaps?
Anon,The world used to just have drunk dialing. Then the ill advised late night sext messages. Perhaps now we have "bender blogging"?My $0.02
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