jseville's Blog: Market Observations

[for the latest version of this article click here: Latest Overpriced Condos in Clarendon, Ballston, Courthouse and Rosslyn -- Part V]

 And here is the Ultimate Guide for Buying a Condo in Arlington in the Clarendon & Ballston area real estate corridor.

After reading the article feel free to view the current active listings in our area for these "hot searches"--and you'll find the other articles in the overpriced category to be much more humorous and biting so check out the menu bar to the left to access those other posts on overpriced listings:

It's time for a whole new round of overpriced Arlington Virginia Condos in Clarendon & Ballston.  Orange…

There is one question I get asked weekly by people from around the country, "What's going to happen in the real estate market next year? Should I buy now or wait?" Well based on my experience the last 12 months and a lot of research I've done I have much to proffer on the issue. My previous post noted how much inventory had declined since the peak in March 2006. Well I just pulled the November numbers and found some interesting trends. For Northern Virginia real estate the number of units sold in November 2006 was 24% lower (1,475) than in November 2005 (1,933). And the average sales price was 4% lower than in Nov. 2005. The average days on market was 85 versus 36. Washington DC real estate sold for 11% lower in Nov. 2006 versus 2005 and there were… Read Full Post

I noticed many listings had disappeared for which I had found new buyers in the past 2 months. Sure enough the latest data is out and the inventory of Arlington Virginia Condos is almost back to normal from a year ago. That means our inventory correction took a year. Pretty fast correction it seems. The doomsayers in the media who predicted another 20% decline this year in home values across the board are pathetic but make their $$$$ or earn their time in the spotlight through hype and fear-mongering. We went from about 320 condo listings to over 700 and are back where we started. Demand will be high this year since so many 2006 purchaser have yet to buy, but I don't know that condos will appreciate much. However now that they corrected in 2006… Read Full Post

The inventory of single family homes for Fairfax Virginia real estate doubled in a short few months during the 1st half of 2006. That was tough for sellers who saw their homes priced at what in their experience was market value languish for months on end never sell after consecutive price drops. Well inventory has almost come back to normal--much of sold although a lot of perhaps was just withdrawn till 2007. However the prices are lower now by about 5% and therefore buyers and sellers should get along better this year. There will be a lot more transactions than 2006 as so many people did not buy yet, and so many homes did not sell yet. But buyers and sellers have come much closer together in their expectations. In fact homes that show very well and are… Read Full Post