Looks like we are almost back at 2007 price in 22043, 22182 and 22046
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Anonymous
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I don't know, there isn't much inventory and not much has sold around there in the past 12 months. Lots of what has sold were homes sold by the original owners and often in a state of some disrepair, bringing prices down. Plus, if an appraiser uses homes from the Pimmit Hills section of 22043, that could drag your appraisal down.
I'm just a buyer, so this is speculation, but it's also partly what we were told by our agent. She said appraisers are having a very hard time due to the low inventory and lack of sales in many neighborhoods. I think that's born out in another thread about a low appraisal in Bethesda. There are a couple of other homes on the market in that same general area that are listed at $895-899. I've seen both and think they're overpriced for various reasons, but they'll probably still sell in the low $800s at a minimum, so maybe keep an eye on those and use them as additional data points. |
Anonymous
I call it "the appraiser from Charlestown, WV syndrome." Banks are gunshy because they went way overboard during the bubble, now they are overboard in the wrong direction and its screwing a lot of buyers who don't have the cash to cover the difference. It'll get sorted out eventually, with more time and more comps. |
Anonymous
| Yeah we need to beat the shit out of the appraisers, if someone is willing to pay that much who gives a shit |
Anonymous
| It's your realtor's job to help the appraiser with appropriate comps to make the deal go through. |
Anonymous
Um, that's what ZILLOW says, according to the article. Got independent verification of that? Don't get me wrong, I love my Zestimate, I'm just skeptical of it. |
Anonymous
| Zillow can't even get basic facts right in my area (22182). THey have townhouses coded as SFH, and SFHs coded as townhouses, etc. Just really blatant mistakes. |
Anonymous
| ok i think we are now past the point of no return. 2 original renovated with small back addition homes have been put up in pimmit for $629-699k |
Anonymous
| We second the notion that appraisers are sustaining a flat valuation curve. They are really overadjusting and fixated on flat prices. How many more busted/walk away deals do they want this year? It's only April!! |
Anonymous
| What would it take to get appraisers to change the prices? Cash deals without appraisals? |
Anonymous
| A couple of rental houses in my neighborhood in 22182 are now renting out for well over my mortgage and I have a shitty high mortgage from circa 2007. Hmmmm. |
Anonymous
| Hope it's true. I live in 22043. I haven't really seen it, though. I sold last year in 22043 and made a good profit, but we bought in 2002. Got a good deal on the house we moved into, so I hope it has increased in value!!! |
Anonymous
| new update, another home original w/ addition home in pimmit hills listed at $679k |
Anonymous
| What??? For a shack with an addition? wow - for that much, I'd rather have a bigger place in Vienna - the retail is great there too, and the schools are better |
Anonymous
Pimmit hills is closer in, has better access to all major roads, the schools are now on par w/ vienna and 1 metro and another new metro coming soon from tysons silver line. |
Anonymous
