Housing.com News, Analysis & Opinion: Housing Bubble: The Downward Spiral

On a whim, I browsed other listings to get a sense of the market, and came across some interesting finds, such as these two shit sandwich condos on sale for under $200,000 in Gaithersburg, MD, which is kinda the northern equivalent of Herndon. ;) And here's another one in Alexandria.

Of course, you still have more than your share of ridiculous listings, like the guy who's asking $189,000 for 500 square feet of what is no doubt pure shite, but the trend seems to be fast-dropping prices in order to get rid of excess inventory. I wasn't expecting the drop to hit for another few months at least. Good times. Hopefully the smart shopper will find bargains amidst the many potential lemons they got goin' on out there.

Given that everyone from MLS to Zillow is gambling on what may be unverifiable data these days, the art of the bargain is going to come in to play more than ever. Don't assume that the listed price is the best price you can get. Learn to negotiate, bluff, counter, and do your research.

This is the kind of thing we used to rely on brokers for, but now, more than ever, it's self-empowerment time for the home buyer. HOO RAH! ;)

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A sharp-eyed fellow blogger made mention of a Craigslist R/E ad that featured a $100,000 price drop for what seems to be a decent condo in the Herndon/Chantilly area of Virginia--a big "tech corridor" about 30-40 miles from D.C. On a whim, I browsed other listings to get a sense of the market, and came across some interesting finds, such as these two shit sandwich condos on sale for under $200,000 in Gaithersburg, MD, which is kinda the northern equivalent of Herndon. ;) And here's another one in Alexandria. Of course, you still have more than your share of ridiculous listings, like the guy who's asking $189,000 for 500 square feet of what is no doubt pure shite, but the trend seems to be fast-dropping prices in order to get rid of excess inventory. I wasn't expecting the drop to hit for another few months at least. Good times. Hopefully the smart shopper will find bargains amidst the many potential lemons they got goin' on out there. Given that everyone from MLS to Zillow is gambling on what may be unverifiable data these days, the art of the bargain is going to come in to play more than ever. Don't assume that the listed price is the best price you can get. Learn to negotiate, bluff, counter, and do your research. This is the kind of thing we used to rely on brokers for, but now, more than ever, it's self-empowerment time for the home buyer. HOO RAH! ;)