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.
Jewel -- yeah, Contrarian linked to it yesterday (provided he has not yet deleted it) -- interesting.In other news, MSM confirms what we knew here 2 years ago:http://www.usatoday.com/news/nation/census/2011-02-16-1Acensuskids16_ST_N.htm?loc=interstitialskipPlaces like Arlington are (for the first time in decades) attracting whities and their kiddies. Turns out CRTs once mocked "new paradigm" is correct, producing yet another generation of dudes in brown flipflops along the way:http://www.youtube.com/watch?v=4T1RMuoQnKo
The Anouymous,Thanks for pointing that out. I should have checked more thoroughly before I posted the link.I'll delete my posting.
Anon-It will be interesting to see whether the new generation will age in Arlington (perhaps move from condo's to SFH) or when it becomes time for most of the 20-40 year olds to have kids they will move to the burbs. Arlington definitely has a much better reputation than it did 20 years ago and I think will continue to attract youth, but we have yet to see what these people will do. I guess a large part probably depends on housing prices. I assume they will want to leave condos and if they can afford SFH they will get them, if not they may move further out. Although this is more of a 10+ year question so it is not that relevant.
Jewel,I'd be getting a lawyer if I were those two.Out of curiousity (and boredom) I decided to take a condo development that delivered at peak and look at the foreclosure activity.If my sample is fairly accurate, banks are not sitting on many reo's at all. I looked at 150 units and sales (including transers to banks as a result of foreclosure); a handful or fewer units are bank-owned at present.Reo's were sold and closed between 3 wks and 7 months of the trustee's sale. The average was about 3-4 months.Nothing is sitting around rotting and growing mold. I have to look closer to see if time-frames have been tightening up. I noticed a bunch of shorts that have closed.I should have counted the total # of reo's and shorts. There have been a ton. One unit is available (reo - 2 days) and nine are pending (all distress, I believe).
"In other news, MSM confirms what we knew here 2 years ago"So, an article in USA Today is all it takes to confirm something now?
I should have noted the addresses of the bank-owned. I bet they match up with some of the pendings, further reducing bank inventory.
"So, an article in USA Today is all it takes to confirm something now?"Good point. Still, I was much more interested in the fact that the info came from the Brookings Institution than USA today...
anyone else having problems with Blogger? This is a test post - it ate my last post.
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