August 07, 2007
Why the Northern Virginia Real Estate market has to drop 25%
This year-end price data is from the Northern Virginia Association of Realtors site. It is one of the few that provides enough historical data to figure things out for yourself. In a moment I am going to show you why prices in Northern Virginia are headed for a 25% drop.
The data shows that the average price of a home in NoVa went up 144% in the ten year period from 1997 to 2006, with the bulge of the snake occurring from 2001 to 2005.
The previous ten year period, 1987 to 1996, showed a 51% increase.
So using that as a rough guideline for normal, the appropriate price in NoVa should be about $332,730.
Which represents a potential fall of $207,268 from the current average price, or 38%.
Even allowing for bigger homes, granite and stainless, you’re looking at 25% off $539K, or about $400K, as the bottom. Which is still more than 3X earnings, of course.
But let’s say the new math allows for 5X, with you know, a 50 year loan, point is, prices have to drop at least 25% before they even approach affordable in NoVa.
2006 -- $539,998.00
2005 -- $538,144.00
2004 -- $440,506.00
2003 -- $365,209.00
2002 -- $323,408.00
2001 -- $285,159.00
2000 -- $252,374.00
1999 -- $238,496.00
1998 -- $229,151.00
1997 -- $220,932.00
Posted by Frank at 11:48 AM | Comments (0) | TrackBack
August 06, 2007
Video: Pickup a pickup [truck] in August
Hey! If you're looking to buy a pickup truck, August may be one of the best months of the year -- all of the 5 truck makers have big money on the hood -- chek it out!
via Car Buyer's Notebook.
Posted by Frank at 06:15 AM | Comments (0) | TrackBack
July 29, 2007
Frank Giovinazzi now available in nine languages!
Thanks to the Babel Fish translation software from AltaVista, Frank Giovinazzi is now available in translation for nine languages. If you include English.
The alternate languages include: Spanish, French, German, Chinese, Japanese, Korean, Italian and Portugese.
All you have to do is click on the appropriate flag in the box that is at the upper right hand corner of this and every page on the site.
Click here to read the site in Spanish.
Click here to read the site in French.
Click here to read the site in Japanese.
Click here to read the site in Chinese.
Click here to read the site in German.
Click here to read the site in Korean.
Click here to read the site in Italian.
Click here to read the site in Portugese.
Posted by Frank at 06:51 PM | Comments (0) | TrackBack
