Monday, May 22, 2006

Open Forum

Post Away! :-) [I will delete unfounded accusations]
Posted by David at 3:04 PM

17 comments:

  1. AnonymousMay 22, 2006 12:13 PM

    I'm looking for a nice apartment in the DC suburbs. Any suggestions?

    ReplyDelete
  2. NikkiMay 22, 2006 12:56 PM

    Sorry you have to post your disclaimer...I'm seeing major resistance to price reductions here in Baltimore, and as a result, the inventory keeps building to historical levels, according to MRIS and it's predecessor. Does anyone else here think that the longer they wait to adjust their prices, the harder the subsequent price drop will have to be? They can keep listing at 2005 prices even though they're not selling well at all, and inventory will grow and grow and grow until the smarted guy says I'll cut $75K and be done with it--then reality hits home, and the greedy suffer, as well they should.

    ReplyDelete
  3. AnonymousMay 22, 2006 1:27 PM

    I follow Bethesda SFHs in the 600-900k range. Minus a few laggards, properties seem to be turning over before a month is up. Of course, I don't know what price sellers are getting. Any suggestions on the best sources to check data for asking prices and selling prices for properties? I realize it takes a few months to be public information.

    ReplyDelete
  4. AnonymousMay 22, 2006 1:28 PM

    for asking: zip realty

    ReplyDelete
  5. AnonymousMay 22, 2006 2:58 PM

    It's so tough to predict what will happen because we are really in uncharted territory. I think that the price run-ups of the last few years are unprecedented, so there isn't really a pattern from the past that we can observe.

    A Redskins fan

    ReplyDelete
  6. AnonymousMay 22, 2006 4:16 PM

    Unfounded Allegation That I believe is true.

    David is one of the best real estate bloggers out there.

    Tom

    ReplyDelete
  7. DavidMay 22, 2006 4:33 PM

    tom,

    thanks. :-)

    ReplyDelete
  8. ihateyuppiesMay 22, 2006 5:21 PM

    Yeah, who knows what the DC real estate market will look like by 2008.

    I take a pessimistic view that the DC real estate market will become highly valued for many years to come. The DC market will be hot as long as you have the federal government pumping out dollars for contracting and jobs and continued Republican political dominance that calls for a proliferation of well-paid corporate attorneys and lobbyists. Washington, DC is pure yuppie heaven.

    If I were a single-family home owner, I wouldn't worry about a thing. Condo and townhome owners should be concerned though. We could have a strange real estate market where the real estate value of SFH's INCREASE in price while prices for condos flatten or decline through the next 3-5 years.

    ReplyDelete
  9. AnonymousMay 22, 2006 6:00 PM

    Rhonda

    Wait until the prices fall. Builders do not typically add incentives to encourage buyers. I bought a townhouse in Columbia Md. in Fall 2000. No incentives. All units sold out within several months after I placed my deposit. I have not seen incentives until recently (less than a year). I can not see how builders can keep the houses on inventory at these prices when they have to pay for all the materials and subcontracters and people are not buying. I can't believe that the cost of building these houses are anywhere near what they are selling.

    ReplyDelete
  10. AnonymousMay 22, 2006 11:10 PM

    http://www.apartmentratings.com/rate/MD-Silver-Spring-Springwood-Apartments.html

    ReplyDelete
  11. AnonymousMay 22, 2006 11:12 PM

    "I'm looking for a nice apartment in the DC suburbs. Any suggestions?"

    Apparently, at a site full of apartment dwellers, not one can recommend a nice apartment complex, or even engage you in a conversation about your needs.

    ReplyDelete
  12. ihateyuppiesMay 22, 2006 11:25 PM

    "Apparently, at a site full of apartment dwellers, not one can recommend a nice apartment complex, or even engage you in a conversation about your needs."

    Mr. Real Estate Industry Troll, this is not a forum for recommending renting or buying property. Try Craigslist for that stuff.

    ReplyDelete
  13. AnonymousMay 22, 2006 11:36 PM

    Yes, it is a site for like-minded solipsists. Diversity is unwelcomed here.

    ReplyDelete
  14. AnonymousMay 23, 2006 12:14 AM

    Anony-mouse:

    Obviously, diversity is welcome since you are here.

    Do you have a point? A view? So far you've not made one. What exactly is the "diversity" you wish to add??

    p.s. I owned a condo and a beach house and sold both the past two years. Save your "site full of renters" - and your five figure investment portfolio - for someone else. There are as many liquid investors here as there are lifetime renters.

    ReplyDelete
  15. AnonymousMay 23, 2006 6:31 AM

    LOL. I sure hope this is a site full of renters. I would hang out here more often. Good company among smart, fiscally prudent people.

    Anyway, I'd rather be a renter than an "owner" who owns less than 10% of his/her property.

    And ihateyuppies, I am not a Republican, but I certainly don't think the amount of DC lobbying would be substantially reduced with a Democrat, esp. a Clinton Democrat, in charge. But that aside, increased lobbying is almost certainly not the issue. Some huge percentage of house purchases in the DC area were financed with ARMs last year. Take that away, and no matter how much lobbying, immigration, gentrification, etc. that you have, and I think prices will fall. But I agree, they could fall very slowly. It only took a few years to convince people that old, poorly maintained houses in slums were worth half a million or more, but it may take longer for them to accept that they may need to take a lot less to sell.

    A Redskins fan

    ReplyDelete
  16. AnonymousMay 23, 2006 9:47 AM

    David said:
    "[I will delete unfounded accusations]"

    Someone said:
    "Save your five figure investment portfolio - for someone else. There are as many liquid investors here as there are lifetime renters."

    David isn't a hypocrit, he just hasn't had a chance to delete the offending posts yet....

    ReplyDelete
  17. AnonymousMay 24, 2006 10:32 PM

    DAVID TOUCHES LITTLE BOYS.

    ReplyDelete

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