Sunday, December 11, 2005

Price Reduced


Rowhouse located on eastern edge of Capitol Hill Neighborhood.
( I went to visit some open houses today. More to come.)
Posted by David at 6:15 PM

6 comments:

  1. AnonymousDecember 11, 2005 8:54 PM

    Were a lot of people at the open house?

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  2. DavidDecember 11, 2005 9:03 PM

    nope. Little traffic at the open houses in the Capitol Hill Neighborhood.

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  3. AnonymousDecember 12, 2005 11:22 AM

    I wonder how much the low traffic is due to the season, a lack of buyers (most people have either bought or have no interest in buying at anywhere near these prices), and most importantly, the price. I wonder how large the group of people who would buy at lower prices is, and whether they are just sitting things out for a while.

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  4. AnonymousDecember 12, 2005 3:56 PM

    How much were they asking for it?

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  5. DavidDecember 12, 2005 4:35 PM

    MLS# DC5346490

    $549,000

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  6. AnonymousDecember 12, 2005 10:51 PM

    Hi David -

    Thanks for visiting my open house on Sunday. I, too, enjoyed our conversation and appreciated your kind comments. Although it was a cold day, I ended up having 32 total visitors to my open house, which was scheduled to end at 3pm. It had to be extended by 1/2 hour due to the last minute rush. In 20 days on the market, we've held 4 open houses for this particular property, with over 150 total visitors - some neighbors of course. Perhaps my opens are a little better attended due to my savvy Internet marketing efforts. :-)

    An over supply, descreased demand, and other non-seasonal related market forces are leveling the playing field between buyers and sellers. This is indeed a good thing for everyone....as I conveyed to you on Sunday. Our market could not sustain 25% growth. However, present conditions don't indicate a bubble, but a much needed market adjustment. A good comparison is to look at market conditions in the late 80's/early 90's versus today. They are different markets, which leads me to believe that our market is NOT in a bubble. Good luck with your BLOG!!! - Joe O'Hara

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