The bubblicious bench was photographed on Saturday night March 18, 2006. The condo project is called Halstead at Dunn Loring. It is located in Northern Virginia (Washington, DC suburbs). The iron bench is located on the west side of the condo building.
One of Bubble Meter's citizen-reporters states "As you can tell, it has been converted from a seating area to a receptacle for flippers' key lockboxes. FYI, when I visited this condo building on Super Bowl Sunday, there were 26 of those lockboxes. As of 3/18, there were a total of 44 lockboxes. That's quite an increase in only a couple of months! "
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the bench: another casualty of the housing bubble
ReplyDeleteGetstucco,
ReplyDeletethats right.
hilarious...why dont these folk rent their units still the inventory settle down?
ReplyDeletewww.dcbubble.blogspot.com
lockboxes can be used for selling or renting.
ReplyDeletethat is damn funny
ReplyDeleteI'm familiar with this area. It's very convenient to the Metro, but it's otherwise located in the No. VA stripmall wasteland. Nothing walkable, no unique character, and the traffic sucks. I wonder about the condo dues. In any event, the asking prices seem high for the comparable rental value.
ReplyDeleteI had to go to the INS building next door while they were building the place last summer. Cars zoom down Prosperity like it's a little highway. When I saw the place I thought that I really couldn't imagine living in that "neighborhood" - and apparently neither could a lot of the people who bought the units when they went on sale.
ReplyDeleteI love love love this picture. It's unbelievable and the best picture to show that the tide has turned.
ReplyDeleteFinally....
It's been a long and painful few years for those who did not have houses like me.
Simmssays…
AmericanInventorSpot.com
Overheard in condo Poker room with books and new poker table:
ReplyDelete"I'll raise you 2 condos"
Great pic. Can anyone provide a better one?
ReplyDeletedavid - this is the best picture I've seen representing the bubble. I posted it over at housingpanic too - hope it got you some traffic
ReplyDeletelet's call for more pictures. worth 100000000 words
seas of for sale signs, more lockbox horrors, etc
keep up the good work
keith
I remember going to one of the sales parties for this place. I was one of the few people looking to buy a place to live. Most of the attendees were speculators buying multiple units. I was priced out before I ever had a chance. It looks most of these speculators are expecting some decent gains even after carrying costs & selling expenses. I'm still renting and won't feel bad if any of these folks don't break even after expenses. According to the Fairfax County website the developer is still the owner for several units, so maybe that will help put downward pressure on the prices.
ReplyDelete2655 Prosperity Avenue, #119
Fairfax, VA 22031
Purchased 1/31/06: $399,900
Listed 2/10/06: $520,000 (+30% in 10 days)
Price reduced 2/22/06: $499,000 (+25%)
2655 Prosperity Avenue, #124
Fairfax, VA 22031
Purchased 1/30/06: $276,900
Listed 2/2/06: $347,500 (+25% in 2 days)
Price reduced 3/17/06: $337,500 (+22%)
2655 Prosperity Avenue, #128
Fairfax, VA 22031
Purchased 1/10/06: $281,900
Listed 1/30/06: $329,000 (+17% in 20 days)
Price reduced 2/9/06: $319,000 (+13%)
Price reduced 2/21/06: $315,000 (+12%)
Price reduced 3/3/06: $309,000 (+10%)
2655 Prosperity Avenue, #202
Fairfax, VA 22031
Purchased 2/7/06: $264,900
Listed 2/9/06: $369,900 (+40% in 2 days)
Price reduced 3/3/06: $347,000 (+31%)
2655 Prosperity Avenue, #213
Fairfax, VA 22031
No previous owner
Listed 3/3/06: $479,000
Price reduced 3/24/06: $465,000
2655 Prosperity Avenue, #227
Fairfax, VA 22031
Purchased 1/31/06: $396,800
Listed 2/2/06: $529,900 (+34% in 2 days)
Price reduced 2/15/06: $519,000 (+31%)
Price reduced 2/26/06: $499,900 (+26%)
2655 Prosperity Avenue, #236
Fairfax, VA 22031
Purchased 1/10/06: $289,900
Listed 1/10/06: $349,000 (+20% instantly)
Price reduced 2/20/06: $339,000 (+17%)
Price reduced 3/2/06: $329,000 (+13%)
2655 Prosperity Avenue, #249
Fairfax, VA 22031
Purchased 1/23/06: $443,850
Listed 2/3/06: $519,900 (+17% in 12 days)
Price reduced 2/23/06: $489,900 (+10%)
2655 Prosperity Avenue, #330
Fairfax, VA 22031
Purchased 1/27/06: $324,900
Listed 1/30/06: $409,900 (+26% in 3 days)
Price reduced 2/10/06: $399,000 (+23%)
Price reduced 3/21/06: $379,000 (+17%)
2655 Prosperity Avenue, #334
Fairfax, VA 22031
Purchased 1/6/06: $329,900
Listed 2/25/06: $408,000 (+24% in 51 days)
Price reduced 3/6/06: $379,000 (+15%)
Price reduced 3/23/06: $374,900 (+14%)
2655 Prosperity Avenue, #337
Fairfax, VA 22031
Purchased 1/5/06: $450,850
Listed 1/4/06: $549,900 (+22% instantly)
Price reduced 2/2/06: $539,900 (+20%)
Price reduced 2/20/06: $529,900 (+18%)
Price reduced 3/24/06: $519,900 (+15%)
2655 Prosperity Avenue, #348
Fairfax, VA 22031
Purchased 1/23/06: $428,850
Listed 1/20/06: $549,000 (+28% in 14 days)
Price reduced 1/31/06: $537,000 (+25%)
Price reduced 2/21/06: $519,000 (+21%)
2655 Prosperity Avenue, #350
Fairfax, VA 22031
Purchased 2/7/06: $391,850
Listed 2/25/06: $499,900 (+28% in 18 days)
Price reduced 3/14/06: $488,000 (+25%)
Price reduced 3/21/06: $474,900 (+21%)
2655 Prosperity Avenue, #401
Fairfax, VA 22031
Purchased 2/7/06: $434,800
Listed 2/26/06: $469,900 (+8% in 21 days)
Price reduced 3/22/06: $459,900 (+6%)
2655 Prosperity Avenue, #414
Fairfax, VA 22031
Purchased 2/23/06: $308,900
Listed 2/22/06: $349,000 (+13% instantly)
Price reduced 3/7/06: $339,000 (+10%)
Price reduced 3/12/06: $328,900 (+6%)
2655 Prosperity Avenue, #441
Fairfax, VA 22031
Purchased 1/5/06: $305,850
Listed 1/18/06: $389,000 (+27% in 13 days)
Price reduced 1/29/06: $347,900 (+13%)
Price increased 2/7/06: $359,900 (+18%)
Price reduced 2/23/06: $339,900 (+11%)
2655 Prosperity Avenue, #450
Fairfax, VA 22031
Purchased 2/1/06: $422,800
Listed 2/2/06: $519,900 (+23% in 1 day)
Price reduced 3/3/06: $489,900 (+16%)
one lockbox represens one condo unit at the Halstead complex that is either for sale or for rent.
ReplyDeleteLockboxes are use by real estate agents as a means to access a property. The lockbox contains a key for an individual property. The real estate agent has a common key tha opens lock boxes.
The realtors are locking it to a bench because the bench is a solid object that is buil into the ground and it allows easy lockbox placement on the bench.
I toured this place yesterday--I was thinking of renting. The area is kind of blah, plus the thought of crossing prosperity during the height of rush hour makes me think I'll end up run over. The rents are running between 1300-1600 for a one bedroom.
ReplyDeleteWhat really got me are the one bedrooms that face the street. They are completely on street level and frankly, there's nothing stopping someone from breaking the glass in the french door or opening a window and walking right inside. No thanks.
Here is a better picture:
ReplyDeletehttp://i3.tinypic.com/wjvpkx.jpg