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.)


  1. Were a lot of people at the open house?

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

  3. 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.

  4. How much were they asking for it?

  5. 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 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