Anyone waiting till next spring to buy?

[Anonymous]

I am ready to call it quits. Priced out!

[Anonymous]

Really? While I'm not in the market, I keep a watchful eye on what's going on in DC Area real estate as I own a few investment props.

Seems to me that the breaks have been put on the market, lots of stuff is now sitting and prices have stabilized. In my area, inside beltway, very sought after neighborhood - homes that would have flown off the market, sight unseen, just a few months ago are now sitting.

[Anonymous]

Anonymous wrote:Really? While I'm not in the market, I keep a watchful eye on what's going on in DC Area real estate as I own a few investment props.

Seems to me that the breaks have been put on the market, lots of stuff is now sitting and prices have stabilized. In my area, inside beltway, very sought after neighborhood - homes that would have flown off the market, sight unseen, just a few months ago are now sitting.

+1

[Anonymous]

Looking outside beltway in desirable area with admittedly narrow criteria. Houses go in a day or two.

[Anonymous]

We are waiting for awhile. The prices are sky high, yet the inventory is sub par. I notice that the classic "good neighborhoods" near me have NO inventory.

[Anonymous]

The fall and winter is especially slow. Many of the homes I've purchased have been done so in those times. True, spring time brings more inventory onto the market, but there are also many many more buyers.

[Anonymous]

Inventory is way way down. Nationally. Why is this? Is there less jobs mobility? Are baby boomers not retiring and moving to sunny cheap climes like they used to because retirement savings ravaged by recession? Have investors and private equity really bought that much property even in close in DC? But I would think AG least PE would show up as listings and then quick sales, unless they go through some back channel??

Why is inventory so low? In close in neighborhoods we have surpassed the bubble highs, so no one is underwater anymore, everyone can sell and even make some money (maybe not the $$$& the envisioned in 2006) but no one is trapped inside the beltway.

Insight?

[Anonymous]

I wouldn't give up OP. We got lucky and found a FSBO in one of the hotspot neighborhoods where waived contingencies and bidding wars are the norm. We ended up getting our house below list and didn't have to waive any contingencies or deal with a bidding war. You have to think outside of the box in a market like this. I agree that houses are starting to sit longer. If somebody puts a house up now and through the winter, chances are they need to move quickly and you may be in a better position to get the house you want.

[Anonymous]

prices are not back up to 2006 levels.
we just purchased outside the beltway for 1 M. our neighbor has the same size house and paid 1.5 M in 2005.

[Anonymous]

Anonymous wrote:Inventory is way way down. Nationally. Why is this? Is there less jobs mobility? Are baby boomers not retiring and moving to sunny cheap climes like they used to because retirement savings ravaged by recession? Have investors and private equity really bought that much property even in close in DC? But I would think AG least PE would show up as listings and then quick sales, unless they go through some back channel??

Why is inventory so low? In close in neighborhoods we have surpassed the bubble highs, so no one is underwater anymore, everyone can sell and even make some money (maybe not the $$$& the envisioned in 2006) but no one is trapped inside the beltway.

Insight?

We may be near the real estate high but people are worried about the economy?

[Anonymous]

Low inventory means few "move up" houses are out there for people who might otherwise sell their $850,000 close-in, 3 BR, 2 BA "starter" homes in good school districts.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Inventory is way way down. Nationally. Why is this? Is there less jobs mobility? Are baby boomers not retiring and moving to sunny cheap climes like they used to because retirement savings ravaged by recession? Have investors and private equity really bought that much property even in close in DC? But I would think AG least PE would show up as listings and then quick sales, unless they go through some back channel??

Why is inventory so low? In close in neighborhoods we have surpassed the bubble highs, so no one is underwater anymore, everyone can sell and even make some money (maybe not the $$$& the envisioned in 2006) but no one is trapped inside the beltway.

Insight?

We may be near the real estate high but people are worried about the economy?

People aren't worried about the economy, are they? Recession over, unemployment trending down, albeit slowly? Especially in DC Metro, never saw recession...

[Anonymous]

In typical August fashion, there are more houses around me in 22207 that have come on the market and there doesn't appear to be a frenzy for them. August and September are actually good times to look for houses. Spring will probably be nuts again.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Inventory is way way down. Nationally. Why is this? Is there less jobs mobility? Are baby boomers not retiring and moving to sunny cheap climes like they used to because retirement savings ravaged by recession? Have investors and private equity really bought that much property even in close in DC? But I would think AG least PE would show up as listings and then quick sales, unless they go through some back channel??

Why is inventory so low? In close in neighborhoods we have surpassed the bubble highs, so no one is underwater anymore, everyone can sell and even make some money (maybe not the $$$& the envisioned in 2006) but no one is trapped inside the beltway.

Insight?

We may be near the real estate high but people are worried about the economy?

People aren't worried about the economy, are they? Recession over, unemployment trending down, albeit slowly? Especially in DC Metro, never saw recession...

You need to take off your rose-colored glasses. There is still plenty of worry about the economy, and lots of people are still suffering.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Inventory is way way down. Nationally. Why is this? Is there less jobs mobility? Are baby boomers not retiring and moving to sunny cheap climes like they used to because retirement savings ravaged by recession? Have investors and private equity really bought that much property even in close in DC? But I would think AG least PE would show up as listings and then quick sales, unless they go through some back channel??

Why is inventory so low? In close in neighborhoods we have surpassed the bubble highs, so no one is underwater anymore, everyone can sell and even make some money (maybe not the $$$& the envisioned in 2006) but no one is trapped inside the beltway.

Insight?

We may be near the real estate high but people are worried about the economy?

People aren't worried about the economy, are they? Recession over, unemployment trending down, albeit slowly? Especially in DC Metro, never saw recession...

You need to take off your rose-colored glasses. There is still plenty of worry about the economy, and lots of people are still suffering.

I understand that is reported, but house sales are booming *everywhere* but especially in DC. And consumer spending is up. Really confused which story is true? Can housing continue this rapid appreciation without rose-colored glasses?