NOVA Real Estate Has Jumped The Shark

[Anonymous]

Anonymous wrote:Yellen just announced today that people should expect interest rate hikes.

Warren Buffett is sounding the alarm over inflation.

Many CEOs have reiterated inflation concerns during this earnings season.

It all means interest rates are going to rise, no one believes Powell, and assets are going to get crushed across the board as everything that's massively overvalued is about to get corrected because the gravy train is ending now with inflation getting out of control.

Good luck with this. We are headed for zero rates, and there won’t be any lasting inflation. Just ask Japan.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Interesting area, because that is the McArthur school district, which is finally starting to go under construction, but who knows where those kids will go to school in the fall. People are fleeing Alexandria because of the schools and the school board and there are now several houses off of Janneys, King and in Rosemont that have been sitting and not selling.

Everything in Rosemont is flying off the shelf including several off market sales. There's one house on King not selling and its a 2+ million spec home built by Kulinsky. There's one other house on Janneys and its basically at Quaker, which is a shitty intersection.

Not really. There are two on Russell, one on Glendale, one on W Masonic View, and then those two that aren't really Rosemont (the one on King you mentioned and the one behind it literally right behind the Temple).

Janney and Quaker isn't Rosemont.

People are moving their kids to private or moving, at least where I am (in Rosemont)

No, the only houses that are sitting on the market in Alexandria are overpriced. As soon as they drop by a 100k or so to a reasonable price (particularly given their condition), they'll sale. Everything in good condition/recently remodeled/appropriately priced has sold very quickly.

[Anonymous]

Still not under contract...

[Anonymous]

Anonymous wrote:

Anonymous wrote:Yellen just announced today that people should expect interest rate hikes.

Warren Buffett is sounding the alarm over inflation.

Many CEOs have reiterated inflation concerns during this earnings season.

It all means interest rates are going to rise, no one believes Powell, and assets are going to get crushed across the board as everything that's massively overvalued is about to get corrected because the gravy train is ending now with inflation getting out of control.

Good luck with this. We are headed for zero rates, and there won’t be any lasting inflation. Just ask Japan.

It is a good guess. But let us not kid ourselves, macro economics is a bit of joke when it comes to longer run predictions...

[Anonymous]

Wow. I really wish I could sell my Alexandria house and move somewhere else.

[Anonymous]

Still not under contract...

[Anonymous]

They are having a second open house today. That's proof positive they massively overpriced it.

You have to be the world's biggest imbecile to botch a sale in the City of Alexandria right now.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Yellen just announced today that people should expect interest rate hikes.

Warren Buffett is sounding the alarm over inflation.

Many CEOs have reiterated inflation concerns during this earnings season.

It all means interest rates are going to rise, no one believes Powell, and assets are going to get crushed across the board as everything that's massively overvalued is about to get corrected because the gravy train is ending now with inflation getting out of control.

Good luck with this. We are headed for zero rates, and there won’t be any lasting inflation. Just ask Japan.

Zero rates (and sustained asset bubbles) will lead to Sanders-like economic and political revolution, the consequences of which are even more unpredictable than a 1-2% rate hike. That's the trap the Fed is stuck in. Personally I'd rather take the pain of the rate hike.

[Anonymous]

Anonymous wrote:

Anonymous wrote:1.2 million dollars for this:

https://www.redfin.com/VA/Alexandria/2805-Dartmouth-Rd-22314/home/11851024

Laundry in the kitchen? Check.
Wires across the roof? Check.
Obnoxious high gloss colors everywhere? Check.
Ceiling fans in every room? Check.
One of the four bedrooms actually appears to be attic? Check.
Old dated carpet that with ripples in it? Check.

When will this madness stop?

Someone can’t see the forest for the trees. Harping on cosmetic things that are easily fixed?

Methinks OP is a first-time homebuyer obsessed with HGTV. Bless her heart.

Are you the same weird person who thinks every Millennial expects an HGTV house? You’re odd.

[Anonymous]

Still not under contract...

[Anonymous]

Anonymous wrote:Still not under contract...

Overpriced. I sold two houses off market in that neighborhood in May, so it isn’t demand driven

MacArthur has been completely razed so it might spur demand as buyers see the new school being built.

[Anonymous]

I think those of you saying a washer and dryer in the kitchen is/was a normal thing are missing the fact that they are not normal in a million dollar home. It’s lacking high end finishes and flooring, the brick patio is falling apart along the edges, it’s got older cabinets..... this is not a typical million dollar listing. In this over inflated market high 8s to middle 9s at best

[Anonymous]

they dropped the price $51,000

[Anonymous]

Anonymous wrote:they dropped the price $51,000

They need to drop it at least another $200,000. I guarantee that property will not sell above a million.

[Anonymous]

Still not under contract...