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Post by Deleted on Jan 14, 2009 23:43:34 GMT -6
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Post by Odyssey on Jan 15, 2009 6:01:45 GMT -6
Right you are. The housing market is in such a spot it's not even funny.
I have been looking for a house for the last 2 years, and receive e-mails of prospective houses from a local real estate agent, I have watched the same houses, which have still not sold, drop in price like a stone.
My brother, just purchased a future retirement home in Florida.
It was brand new, the people it was built for ran out of money and couldn't complete the house, which was minor cosmetic finishing touches (light swith plates, bathroom lights etc) away from being completed.
What the family paid for the home to be built was almost $400k
My brother picked it up for $223k.
Just totally blows the mind.
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Post by Deleted on Jan 15, 2009 8:57:00 GMT -6
The thing that drove the price on this property up was its accessibility to the DC Metro area. I have a friend who used to live in that neighborhood and it is a quick hop into DC from there. Easy access to the freeway, etc. Trouble is, traffic in the DC metro area sucks so bad, that it STILL took him over an hour to commute, if he went in during high traffic times.
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Post by Deleted on Jan 15, 2009 9:06:21 GMT -6
Here's an economist who tells it like it is... We're not hearing any of this in this country, but the story here is the same or worse, imo. www.irishtimes.com/newspaper/finance/2009/0113/1231738220759.htmlI love this closing paragraph:
“The goal is to avoid the continued operation of an undercapitalised, error-prone bank with a flawed business model and administrative practices, a problematic customer base and a compromised management facing distorted incentives,” the paper stated.
aaah, would that be the same as "Rotten to the core?" |
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Post by saturn on Jan 15, 2009 16:59:13 GMT -6
I just purchased this beauty right in the top middle. The nice blue one for 183,000. Ain't it a beauty?  Saturn |
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Post by Deleted on Jan 15, 2009 17:07:15 GMT -6
omg, that's amazing! Personally, I like the railroad car with the atrium... Nice.
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Post by St1ck on Jan 15, 2009 22:23:11 GMT -6
I live near this place about 15 miles (in Manassas, VA). Our house went from $700k down to $500k in the last two years This is after we put an additional $130k into it.
This area was in a great boom and we all got hit pretty hard with the housing downturn.
the $75k selling price has me a little confused though. There must be something wrong with it.
The neighborhood near rt 1 is not the best one though...
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Post by Deleted on Jan 16, 2009 0:00:55 GMT -6
Based on the fact that it sold for 385k in 2005, I'd bet money on foreclosure. Just look at the asking price history.
Also, if you look at the satellite pics on google, you will see that it is backed right up against a pretty good sized apartment complex. And, with your comments on not being the best neighborhood anyway, if you have an apt complex in a not so good neighborhood anyway, there's your best bet of the source of problems.
That's funny, you live in Manassas. My friend who used to live near the woodbridge house, now lives in Manassas. Near Wellington Road.
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