Still lots of buyers looking?

[Anonymous]

Slight downshift in rates. People with stocks are still feeling good. Are there still a lot of buyers waiting in the wings? Curious how the NOVA/MOCO market activity will be this spring.

[Anonymous]

Rate changes are not meaningful enough to impact the market. The jobs outlook will be more important.

[Anonymous]

There will always be less housing in desirable DMV areas than demand. Well-maintained homes will sell easily, assuming they are not overpriced for some weird reason.

Poorly maintained homes, and homes way outside the beltway might see less action, but not by much.

[Anonymous]

No more bidding wars like in spring 2024.

[Anonymous]

Homes are 17 percent cheapter than 12-31-2024 if one had their money in US Stocks.

[Anonymous]

This is the K shaped economy at work - we’ll see how many people are well positioned via investments vs stretched. For us personally we’ve never done better but are sitting tight for the next 2-3 years before we upgrade so we can load up our investments even more. Remember the spring market starts in January around here too. So we’ll see early signals very soon.

[Anonymous]

I can't figure out the pattern for which houses sell quickly and which houses don't. We just had a house on the main road (major traffic) with three bedrooms sell for $1.4 million in a day or two. Meanwhile, a better located (albeit smaller) four bed for $1.05 million has been sitting for months. A larger house that's probably overpriced and listed for $1.7 has also been sitting for months. But a $4 million gut reno sold in days.

[Anonymous]

Anonymous wrote:I can't figure out the pattern for which houses sell quickly and which houses don't. We just had a house on the main road (major traffic) with three bedrooms sell for $1.4 million in a day or two. Meanwhile, a better located (albeit smaller) four bed for $1.05 million has been sitting for months. A larger house that's probably overpriced and listed for $1.7 has also been sitting for months. But a $4 million gut reno sold in days.

Schools? We are further out, a bit cheaper than closer in, but good schools and things always move quickly. I'm not even sure there has bedn much of a price correction because almost everything goes under contract within a few days.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I can't figure out the pattern for which houses sell quickly and which houses don't. We just had a house on the main road (major traffic) with three bedrooms sell for $1.4 million in a day or two. Meanwhile, a better located (albeit smaller) four bed for $1.05 million has been sitting for months. A larger house that's probably overpriced and listed for $1.7 has also been sitting for months. But a $4 million gut reno sold in days.

Schools? We are further out, a bit cheaper than closer in, but good schools and things always move quickly. I'm not even sure there has bedn much of a price correction because almost everything goes under contract within a few days.

Mediocre. I'd guess 80% of our neighborhood uses private. Schools have always been mediocre, and houses would fly off the market within a couple days. Many would sell off market.

[Anonymous]

Anonymous wrote:I can't figure out the pattern for which houses sell quickly and which houses don't. We just had a house on the main road (major traffic) with three bedrooms sell for $1.4 million in a day or two. Meanwhile, a better located (albeit smaller) four bed for $1.05 million has been sitting for months. A larger house that's probably overpriced and listed for $1.7 has also been sitting for months. But a $4 million gut reno sold in days.

Seeing the same for 22205 and 22203 Arlington. Makes no sense.

[Anonymous]

It's pretty simple.

The $1.4mm house on a main road is updated. Sold fast.
The $1.05mm house is not updated. Sitting for months.
The $4mm gut reno is renovated. Sold fast.

[Anonymous]

Anonymous wrote:It's pretty simple.

The $1.4mm house on a main road is updated. Sold fast.
The $1.05mm house is not updated. Sitting for months.
The $4mm gut reno is renovated. Sold fast.

I think they mean someone paid $4MM for a house that still needs a gut renovation.

I saw a similar case in Upper NW DC where a house sold for $1.8MM in 10 days and needs at least $500k of renovation work…probably more.

[Anonymous]

I'm looking to buy out of the area inventory is still very low with really crappy over priced houses out there.

[Anonymous]

Anonymous wrote:It's pretty simple.

The $1.4mm house on a main road is updated. Sold fast.
The $1.05mm house is not updated. Sitting for months.
The $4mm gut reno is renovated. Sold fast.

+1

Well-maintained homes sell. The others do not.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It's pretty simple.

The $1.4mm house on a main road is updated. Sold fast.
The $1.05mm house is not updated. Sitting for months.
The $4mm gut reno is renovated. Sold fast.

+1

Well-maintained homes sell. The others do not.

Oddly the 1.05 is updated. Just on the smaller side. Everything on my list is updated.