A blog for the Bloomingdale neighborhood in Washington, DC.
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Sunday, August 15, 2010
Open Houses in and around Bloomingdale for 08/15/2010
Interested in checking out what you can buy in and around Bloomingdale? Check out these open houses today. Here is the same information in a map format. For information on the inidividual listings, scroll over the pushpins on the map.
I am disappointed to see Suzanne's link to the board of realtors supporting Grey over the fact that Fenty put in the higher penalties to vacant home owners. That law helped a lot of people in a lot of neighborhoods get vacant house that were home to rats, racoons, vandals, drug dealers and drug addics. I know one block in the city where 3 houses were sold and are now gorgeous and beautiful after a developer rehabed them and sold them. They would still be the eyesore they were without the owners being forced to do something.
Moody’s housing economist Celia Chen has released a forecast of housing that is pretty dire. If the U.S. enters a doubledip recession, writes Chen, home prices could fall another 20% before stabilizing in early 2012. That compares to a baseline forecast that calls for another 5% decline in home prices and a bottom early next year. Chen puts the odds of a near‐term double‐dip at one in four. As observers of the actual housing market, while we cannot say these numbers are right, we certainly support Chen’s concern. However, we think the order of events will be reversed: it is our belief that housing prices will decrease in the autumn, perhaps precipitously, and that may cause a second dip in the U.S. economy.
Housing economist Thomas Lawler's preliminary estimate for existing home sales in July is 3.95 million SAAR. If so, this would be fewest sales since 1996. Lawler's estimate for inventory in July was 4.04 million (although it is a bit of a mystery how the NAR calculates inventory). That would mean 12.3 months of supply!
A normal housing market usually has under 6 months of supply.
I am disappointed to see Suzanne's link to the board of realtors supporting Grey over the fact that Fenty put in the higher penalties to vacant home owners. That law helped a lot of people in a lot of neighborhoods get vacant house that were home to rats, racoons, vandals, drug dealers and drug addics. I know one block in the city where 3 houses were sold and are now gorgeous and beautiful after a developer rehabed them and sold them. They would still be the eyesore they were without the owners being forced to do something.
ReplyDeleteMoody’s housing economist Celia Chen has released a forecast of housing that is pretty dire. If the U.S. enters a doubledip recession, writes Chen, home prices could fall another 20% before stabilizing in early 2012. That compares to a baseline forecast that calls for another 5% decline in home prices and a bottom early next year. Chen puts the odds of a near‐term double‐dip at one in four. As observers of the actual housing market, while we cannot say these numbers are right, we certainly support Chen’s concern. However, we think the order of events will be reversed: it is our belief that housing prices will decrease in the autumn, perhaps precipitously, and that may cause a second dip in the U.S. economy.
ReplyDeleteHousing economist Thomas Lawler's preliminary estimate for existing home sales in July is 3.95 million SAAR. If so, this would be fewest sales since 1996. Lawler's estimate for inventory in July was 4.04 million (although it is a bit of a mystery how the NAR calculates inventory). That would mean 12.3 months of supply!
ReplyDeleteA normal housing market usually has under 6 months of supply.