Monday, January 14, 2008

Part of Sculpture at Realtors' Washington, DC Office

Picture of Part of Sculpture at Realtors' Washington, DC Office
Posted by David at 1:08 PM

6 comments:

  1. tagDecember 22, 2007 9:04 AM

    what's going on with the blog?

    When you come in the front door, it looks like this:

    "I�~�kõ�@��7\���9��gԆ��Z��0���s�F��e�+3TډP��lx�j�K�aT ^:�嬥����������-z�p ם΍��_������Z�n����S ,i��(�v��'=9h�(� � V�J"B�*IUq�{g�ܥ��H�(PI��rfv~��f��X urk popcorn� cough )X sput"

    I had to use the back door.

    ReplyDelete
  2. AnonymousDecember 22, 2007 12:01 PM

    One of the nicer buildings in DC, though that's not saying much.


    BTW, Lawrence Yun once again issues a press release from another universe:

    NAR Chief Economist Lawrence Yun said in a statement that the global credit crunch has not left the commercial market unscathed, but that 2007 was record-setting for commercial investment. He predicted, however, that tighter credit conditions would provide limitations on individual deals in the coming months. (12/19)



    http://www.bloomberg.com/apps/news?pid=newsarchive&sid=au2XBiCyWeME

    Oh yeah, and the DJ Wil REIT index is off 10% YTD.

    ReplyDelete
  3. wannabuyDecember 22, 2007 2:36 PM

    Well, congress is in recess and no mortgage fix above the FHA limit change. In other words, no legislated changes can go into effect before the seasonally brutal selling months of January and February.

    Since the bulls are so certain they are right, where are their blogs? I'm going off to read how mortgage fraud is reducing the competition's ability to buy. Sales certainly have lost all momentum. Everywhere! DC, Florida, California... is there anywhere selling better than the local 10 year mean? Marketing 101, sales always lead prices. :)

    Got popcorn?
    Neil

    ReplyDelete
  4. AnonymousJanuary 15, 2008 12:57 AM

    David, Dude! Post this to your blog: A map of foreclosure rates in the U.S.

    ReplyDelete
  5. wannabuyJanuary 15, 2008 1:57 PM

    It turns out the preliminary retail numbers were wrong. Sales dropped 0.4%:
    http://www.marketwatch.com/news/story/retail-sales-fall-04-december/story.aspx?guid=E5DCEA25-AC41-4563-85F7-922219372027&dist=SecEditorsPicks

    And high end stores are taking it the hardest. Maybe the well to do are over invested in real estate? Those Florida alligators have to be stinging... A coworker inherited a property (unburdened title) and is trying to get rid of it at any price due to the carrying costs... but no lookers! He undercut the 'market' and has lowered his price almost weekly.

    It looks like we've hit the tipping point. We won't know for certain for a few months. If not now, the painfully slow selling month of February will do its damage.

    Anyone else notice sales in DC are 45% off peak or worse?

    Got popcorn?
    Neil

    ReplyDelete
  6. AndyJanuary 16, 2008 12:41 PM

    How are prices looking inside the beltway, Neil?

    ReplyDelete

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