Why is real estate inventory so low

[Anonymous]

All you have to do to start a DCUM war is mention one of a handful of topics. McLean and/orN. Arlington real estate is one of them.

My favorite is the posters who are looking for a house who try to contradict what the residents (of McLean and/or N. Arlington) already know. You know what - let them figure it out themselves, like we did. Good luck!

But if I'm "retiring" to this area, put me out of my misery!

[Anonymous]

Let the "know it alls" (who know nothing - typical posturing) figure it out themselves - I like it!

[Anonymous]

because there is a HUGE backlog of distressed homes. Banks are being "encouraged" (um strong armed) into doing loan modifications on houses that people should be foreclosed on instead. There should be a large amount of short sales and foreclosures out there, but instead people are getting away with not paying thier mortgages and essentially being squatters until their bank agrees to a loan mod (which of course will result in a foreclosure down the line because these people should have NEVER been homeowners in the first place). THis is significantly contributing to the low inventory, especially in Virginia. it is actually causing housing prices to go up, abit artificially.

[Anonymous]

Anonymous wrote:Most people do not put their house up for sale, unless they absolutely have to, between Thanksgiving and March. Listings pick up in the spring

I agree. It's mostly seasonal. Inventory was low this time of year even when prices were high and the market was going strong.

The upside is that some of the sellers on the market right now are dying to sell and may be willing to cut a better deal than in the spring/summer.

Good luck.

[Anonymous]

When does the spring market start?

[Anonymous]

Anonymous wrote:Lots of people are encouraging us to buy a house-"it's a great time to buy," "it's a buyers market," "interest rates are low," etc.. All that is true but how come the inventory is so low?

As compared to what? It would be low, if comparing to the inventory couple of years ago during the bubble.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We've been looking for a house in the McLean/No. Arlington area for about 8 months, in the $1.25m range. Can't find anything we like. OP is right, inventory is low, and many people still think it's 2005 in their pricing. And NoVA is the land of the center hall colonial--if you're not into that, you're out of luck.

I disagree with this too. Maybe Arlington is center hall colonial land, but I know of many NOVA areas that are not - Annandale, Vienna, Fairfax, Springfield - plenty of diversity in home type and lovely neighborhoods.

[Anonymous]

The poster clearly doesn't have the money for what she wants and boy, is she pissed.