August 2006

There are 4 blog entries for August 2006.

As some of have been in touch with me as a result of some of my recent posts in Market Observations for condo Arlington Virginia I thought I'd add some examples of overpriced condos in Arlington Virginia. Here are a few on the orange line to which my original post referred: Arlington VA Condo Prices Must Come Down You'll notice here some of the older condos in Clarendon VA that now are trying to compete with brand new condos that are more conveniently located in most instances. Also older condos do not have the cutting edge ameneties such as huge rooftop deck/pools with views of the monuments & Potomac or LARGE exercise rooms with flat screen TVs, etc. You can get those units in the new buildings for $370+ so why would I pay more than $340 to live…
6,186 Views, 7 Comments.

Last week I wrote an article regarding condo prices in Arlington Virginia with this title: Arlington VA Condo Prices Must Come Down. The title created some confusion that I'd like to clarify with several points:
  • the post was in regards to a niche of real estate in Arlington--condos on the orange line (Rosslyn VA, Clarendon VA & Ballston)
  • for condos elsewhere in Arlington the observations do not apply in many cases.
In recently examining condo prices for a client I compared prices from a year ago and then subsequent trends this year to decide if the value of the condo was really firm/established or not. In other words, if he bought this condo would he be losing $1000s of value in coming months. We looked at 2 condominiums in depth: 1)…
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So what is this Fall Market stuff to which realtors refer so often? Northern Virginia real estate like many industries has an annual cycle it typically follows. This pattern of activity or lack thereof inludes the Fall Market. The summer time is one of the best times to buy in real estate--especially July/August. The reason being that the buyers to a very large degree leave the marketplace. They have either just succeeded in buying their home in the Spring, taken vacations and lots of weekend trips or got burnt out from not finding what they were looking for in the Spring. Hence, the demand for real estate is very low in the latter weeks of the summer. Thus, sellers are typically much more open to negotiating and a good portion of them are actually…
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PREFACE--AFTER READING THIS POST YOU NEED TO READ THE FOLLOWING POST SO THERE ARE NO MISUNDERSTANDINGS BASED ON ONE GENERALIZING THE TITLE OF THIS POST TO ALL OF ARLINGTON OR ALL ARLINGTON CONDOS: Condo Arlington Virginia Clarifying the Prices Post. Most people know there has been some deflation of home values in the last year. The peak was the Summer of 2005 and the correction may or may not be over depending on which aspect of real estate one is discussing. One area in which there is still much correction--prices lowering--to take place is luxury condos in Arlington. Specifically with Clarendon VA condos there is a whole new breed of condo being offered for sale. These condos include The Odyssey, Clarendon 1021 and Station Square. They should hold their…
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