Monday, May 22, 2006

Open Forum

Post Away! :-) [I will delete unfounded accusations]

17 comments:

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

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  2. 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.

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  3. 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.

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  4. for asking: zip realty

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  5. 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

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  6. Unfounded Allegation That I believe is true.

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

    Tom

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  7. 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.

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  8. 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.

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

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  10. "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.

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  11. "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.

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

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  13. 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.

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  14. 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

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  15. 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....

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  16. DAVID TOUCHES LITTLE BOYS.

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