Sunday, October 29, 2006

Rowhouses for Sale in Washington, DC


Rowhouse for sale in DC


Rowhouse for sale in DC
Posted by David at 1:09 AM

11 comments:

  1. wannabuyOctober 29, 2006 12:14 PM

    David,

    we keep reading about the huge inventory of homes for sale no N Va, has that begun to effect the markets in the "core" of DC? Last fall I was staying in Arlington and was absolutely amazed at the shear number of condo buildings going up. Has the construction madness continued? Any new buildings breaking ground?

    Neil

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  2. LanceOctober 29, 2006 6:25 PM

    Wannabuy,

    Yep, you've hit the nail on the head. IF things were as bad as bubbleheads would have us believe, you wouldn't be seeing all this "construction madness". Of course, the power of the press can exert influence, albeit temporary ... especially when the thoughts of the "on-line press" get picked up by the MSM and given a legitemacy that hasn't been earned. MSM (main stream media) is good at thinking "if it's on line, it must be true" ... a common mistake since we used to equate something being published with it having been extensively screened first ... Which of course isn't true in the age of instant on-line printing. We're seeing a bubble-head induced slowdown ... but it won't last ... as your observation of all the construction in Arlington attests too. I happened to be there earlier today and was similarly surprised (and pleased) by all the beautiful buildings going up in place of the hastily constructed WWII housing --- and only marginally better '70s and '80s buildings that were there. Arlington is earning its true place as Washington's closest-in neighbor.

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  3. AnonymousOctober 29, 2006 11:08 PM

    We're at the bottom here. The air that was going to come out of the housing market, at least around here, is out. Inventory has been stable for half a year and interest rates have peaked and will almost certainly be heading down.

    Sure, there will be very little zeal for real estate as an investment for a while, which will keep appreciation modest, but there has been no price collapse and now it's too late.

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  4. robertOctober 29, 2006 11:28 PM

    Come on Lance, at least spread out your conflicting arguments over a few months time:


    Lance said...
    “At first glance, your logic seems correct. But thinking about it more, I started to realize that one problem with buyer's waiting it out is that builders stop building, so while demand continues to rise ...”
    October 27, 2006 1:02 PM


    Lance said...
    “Yep, you've hit the nail on the head. IF things were as bad as bubbleheads would have us believe, you wouldn't be seeing all this "construction madness".
    October 29, 2006 3:25 PM

    So, by waiting it out, builders will stop building. But we have all this "construction madness"? So there’s no problem in waiting it out, thanks for pointing that out.

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  5. LanceOctober 30, 2006 7:30 AM

    Robert,

    Did anyone ever tell you that by taking quotes out of context the message gets manipulated ... and changed? Oh wait, you MUST know that since you constantly do it!

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  6. robertOctober 30, 2006 11:13 AM

    Lance,
    Dates and times are provided for your reading pleasure.

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  7. AnonymousOctober 30, 2006 4:49 PM

    Not certain about the point of the post, other than to show what some refer to as a rowhouse. Bottom one looks like it is in the Carrolsburg complex in Southwest. Southwest is pretty cool, but A LOT of subsidized housing and projects about a block or two away (and all the great benefits that go with it). Lots of police cars, fire trucks, kids cruising the streets, and your token crackheads sleeping on the benches in the park, etc. I must assume that it is a 2 bedroom and they want 400-500K for the POS.

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  8. AnonymousOctober 30, 2006 6:27 PM

    Please stop responding to Lance. He just does this to derail any intelligent discussion. Don't feed the trolls.

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  9. LanceOctober 30, 2006 7:21 PM

    Polishknight said:
    "So apparently everyone, including Rentors, know the RE bubble has popped and killing construction which is why rents will continue to shoot up and push his easily panicked neighbor into taking her $100K+ out of the bank to buy an overpriced unit to avoid payign on a $200 pm increase that will probably be over by winter."

    Nope, her rent will go up by something close to $600/month. She's been enjoying all the interest on the equity she pulled out of the condo, but even she is starting to realize how shortterm those gains are compared to the longterm costs of renting. Of course SHE is smart enough to know you're not going to see a "crash" in prices ... just an adjustment as has been occuring.

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  10. LanceOctober 31, 2006 5:02 PM

    over $2,700 now ... in "Northwest" ...(not downtown)... and that is standard for a 2 bedroom 1400 sq ft unit

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  11. AnonymousNovember 03, 2006 8:35 PM

    all this dicussion makes me think what an Apprasier used to tell 1st time home buyers years ago....if you can rent the property for close to the mortgage than he'd buy it....it will be interesting to see what happens to all these fools that bought 1 bedrooms during the boom and they cant unload them nor rent them for the IO that just adjusted....

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