Currently, we have a five-month supply of houses to purchase. This is up from the four-months supply we had a few months ago. Remember that a six-month supply is considered a balanced market. If we can avoid another government housing stimulus, the market will have a chance to get back to “normal.”
Applications that allow a user to check into a location, blaring their whereabouts to anyone who cares. The fact that there are huge personal security issues involved notwithstanding, the nagging question I can’t seem to shake is: As a Real Estate consumer, do I care?
Bristow’s current housing supply is down to four month’s worth of inventory. Typically economists say that a six-month inventory indicates a balanced market. This low level of inventory is keeping upward pressure on prices in the area. However, overall Bristow has been a very stable market during 2010 after a rapid rise starting in December 2008.
n the current housing market, we are living in the “hangover” of the various government stimulus programs. Just like the “Cash for Clunkers” stimulus in the car business, these programs have distorted and changed the timing of the housing demand. This has lead to below normal results as the market returns to equilibrium. No more stimulus please!
Last week Facebook unveiled its newest feature – Facebook Places. The application gives users the ability to “check-in,” much like Foursquare, to local places of interest. Below you’ll find 3 easy ways to help you keep your “Places” private!
Ah, Restaurant Week. It’s one of my favorite times of the year. I’d rank it right up there with Christmas and the start of Virginia Tech’s football season (which we all know is the MOST important time of year). I’ll be the first to admit that I have a serious, but sometimes unhealthy for my waistline, love of food. I can only hope that one day this love will earn me the title of being a “foodie.”
For close to a year, I have been saying that prices in Centreville were continuing to move up after prices bottomed out in December 2008. The increase in confidence paired with amazingly low interest rates fueled a growing trade up market where existing homeowners with equity started selling their house to buy a bigger one. This has helped pull up the average sales price.Even with only a four and a half month supply of houses, I expect the second half of this year to have fewer transactions than the first half because the First Time Homebuyer Tax Credit distorted the market.
While prices are stable and time on the market is still reasonable, we are without a doubt still feeling the after effects of the tax credit deadline. In order for buyers to get the tax credit before it expired, some third quarter sales were “pulled” into the second quarter. The “Trade Up” market, where existing homeowners have equity and want to buy a more expensive house, has started and it will also pull prices up as higher priced sales occur.
I normally don’t get overly excited when I see a new piece of Real Estate technology. In fact, I usually ignore most of the new “cutting edge” technology that comes across my desk; generally what I see is neither “cutting” nor “edgy.” But last week, I sat up and took notice. I learned about a piece of technology that has tremendous viability in the Real Estate space. Vyoo.
Since we are talking about Gaithersburg, I’d like to start out by reminding everyone that the Montgomery County Agricultural Fair starts on Friday August 13th and runs for ten days. This is one event that everyone loves to attend!.