DC Housing Prices drop beginning

[Anonymous]

https://tinyurl.com/y97q24np

26% list price drop

[Anonymous]

A simple search clearly dictates that the house was overpriced compared to the comps.

[Anonymous]

You're generalizing from one listing?

Homes are going under contract quickly in my DC neighborhood. Not saying this will always be the case, but at least for now, some more established DC neighborhoods are not affected.

[Anonymous]

Anonymous wrote:You're generalizing from one listing?

Homes are going under contract quickly in my DC neighborhood. Not saying this will always be the case, but at least for now, some more established DC neighborhoods are not affected.

This.

[Anonymous]

A home down the street from me went under contract in one day. ONE DAY. Because of this, I'm concluding that DC housing prices are skyrocketing!

[Anonymous]

If you think I’m clicking on that weird link - think again.

[Anonymous]

Anonymous wrote:If you think I’m clicking on that weird link - think again.

+1

[Anonymous]

A house in my hot PG county neighborhood went under contract in one weekend.

[Anonymous]

Anonymous wrote:

Anonymous wrote:If you think I’m clicking on that weird link - think again.

+1

It's actually just a Redfin link.

[Anonymous]

Equating a big price drop for a hilariously overpriced, butt-ugly house in an undesirable neighborhood to the entirety of the DC housing market is high comedy.

[Anonymous]

That is one ugly house.

And I know ugly because I also live in one.

[Anonymous]

OP is cherry picking one extreme example but they aren't wrong. As the initial cohort of on-the-fence buyers who rushed into the market in April starts to run out, I'm starting to see some downward pressure on prices.

[Anonymous]

Zillow Research:

A 2%-3% drop in prices through the end of 2020, followed by a slow recovery throughout 2021. Prices will return to Q4 2019 levels by Q3 2021.
A 50% decline in home sales from their pre-coronavirus levels, as measured at the end of 2019. Home sales will bottom out in Q2 before beginning to improve near the end of Q2 2020.
Sales volume will recover to about 97% of Q4 2019 levels by the end of 2021.
The pace of recovery is what distinguishes our three scenarios from one another.

https://www.zillow.com/research/prices-sales-forecast-coronavirus-26975/

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:https://tinyurl.com/y97q24np

26% list price drop

In fact, prices for apartments and other real estate are declining around the world. As you might have guessed, the cause is coronovirus infection. I always thought about buying a house by the sea in Spain and now there are awesome prices there, but I can’t even go there because of an emergency. I thought for a long time and decided to choose another country and buy some real estate during this period because the prices are very favorable . My friend works as a realtor and he said that the biggest decline in apartment prices happened in Bulgaria. Have you ever heard about the city of Varna? Varna is a port city and seaside resort on the Black Sea coast of Bulgaria. It is located near other resorts: Golden Sands, Saints Constantine and Elena. There used to be very expensive apartments and offices, but now I found the Bulgarian property for sale Varna Suprimmo.net at very competitive prices! I found one awesome apartment for 85,000 euros and it’s not so expensive because it looks like some kind of VIP room in a hotel. I advise you to look at the photos!

\

In the future the flights are going to be too pricy for you to enjoy a cheap seaside vacation in Eastern Europe. So price will keep low...

The Bulgarian apartments are sold mostly to Europeans, either as investments or part time residences. Not to Americans. Europeans can still get to Bulgaria by train. But I'm sure there's a short term impact and we will see what happens in the long run with flights. The age of cheap air travel may be over, then again it may be an aberration and we return to the normal in a year or two.

The European Project is doomed. First the refugee crisis, now the COVID. The free flow of people is coming to an end soon. Imagine you have to apply for a visa and go through border each time to enjoy a seaside vacation home? You'd rather rent than buy, b/c of all the inconvenience. Europeans were sooo spoiled in the past 20 years by the European dream. Now they have to adjust. So no thank you.

The point of the EU is that you don't need a visa to pass between countries and Europe is so small that most people drive or use the amazing network of trains that they had.

I can see vacationers or holidaymakers with second homes no longer flying across the Atlantic to get there but to say that the union itself will fail is a ridiculous overstatement.

In fact, they need their alliance more than ever to fight against COVID-19 which is why Britain is begging for re-admittance to EWRS (the European version of the CDC virus watch) and because of Brexit they're left out in the cold.

https://www.theguardian.com/politics/2020/may/02/uk-seeks-access-to-eu-health-cooperation-in-light-of-coronavirus

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:https://tinyurl.com/y97q24np

26% list price drop

In fact, prices for apartments and other real estate are declining around the world. As you might have guessed, the cause is coronovirus infection. I always thought about buying a house by the sea in Spain and now there are awesome prices there, but I can’t even go there because of an emergency. I thought for a long time and decided to choose another country and buy some real estate during this period because the prices are very favorable . My friend works as a realtor and he said that the biggest decline in apartment prices happened in Bulgaria. Have you ever heard about the city of Varna? Varna is a port city and seaside resort on the Black Sea coast of Bulgaria. It is located near other resorts: Golden Sands, Saints Constantine and Elena. There used to be very expensive apartments and offices, but now I found the Bulgarian property for sale Varna Suprimmo.net at very competitive prices! I found one awesome apartment for 85,000 euros and it’s not so expensive because it looks like some kind of VIP room in a hotel. I advise you to look at the photos!

\

In the future the flights are going to be too pricy for you to enjoy a cheap seaside vacation in Eastern Europe. So price will keep low...

The Bulgarian apartments are sold mostly to Europeans, either as investments or part time residences. Not to Americans. Europeans can still get to Bulgaria by train. But I'm sure there's a short term impact and we will see what happens in the long run with flights. The age of cheap air travel may be over, then again it may be an aberration and we return to the normal in a year or two.

The European Project is doomed. First the refugee crisis, now the COVID. The free flow of people is coming to an end soon. Imagine you have to apply for a visa and go through border each time to enjoy a seaside vacation home? You'd rather rent than buy, b/c of all the inconvenience. Europeans were sooo spoiled in the past 20 years by the European dream. Now they have to adjust. So no thank you.

The point of the EU is that you don't need a visa to pass between countries and Europe is so small that most people drive or use the amazing network of trains that they had.

I can see vacationers or holidaymakers with second homes no longer flying across the Atlantic to get there but to say that the union itself will fail is a ridiculous overstatement.

In fact, they need their alliance more than ever to fight against COVID-19 which is why Britain is begging for re-admittance to EWRS (the European version of the CDC virus watch) and because of Brexit they're left out in the cold.

https://www.theguardian.com/politics/2020/may/02/uk-seeks-access-to-eu-health-cooperation-in-light-of-coronavirus

Professional collaboration yes, but regain sovereignty especially border control, yes. Otherwise, what the point of Brexit? Also, the Eastern Europeans are the first to take back control of their border during the refugee crisis. Anyway, short vacation home in Bulgaria.