My townhousemates and I rent a townhouse in one of the inner suburbs of the DC area. An appraiser came out yesterday to make an appraisal. The owners who have owned it since it was built in 1984 (payed 165K) want to refinance. The place is worth about 525K. Our rent is 2,250 ( plusutilities). The place is 1700 sq feet. Ok. I talked to the appraiser has done many appriasals around the area. We talked about the housing issue. He mentioned how properties within the Beltway(inner suburbs) were still hot and selling well. However, further out housing units were selling more slowly and that some properties are being reduced in price. He expected continued weakening in the outer suburban DC market. Also, the amount of housing units available for rent or sale in my zipcode has climbed to 54 from 50 in the last two weeks.
Suggested Discussion Topics: DC housing Market. Geography of price declines.: Urban vs Suburban vs Outer Suburban vs Rural? Housing Style (SFH vs townhouse vs condo)?
Friday, June 24, 2005
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