Residential Real Estate Sales Jump 130% in April
By Greg L | 16 May 2008 | Local Economy, Prince William County | 42 Comments
The Washington Times’ Friday Home Guide singles out Prince William County once again for experiencing a dramatic rise in residential real estate sales, marking another month of standout performance for the county’s local economy. Not only did more residential units sell in April of 2008 over April of 2007, but residential sales outperformed April of 2006 as well. This continues last month’s similar performance where March of 2008 saw more residential sales than both March of 2007 and March of 2006. I think at this point we can safely call this a trend.
Recently, I wrote how surprising it was to see March sales go up by 65 percent in Prince William, but in April, sales there were up an astounding 130 percent. This is particularly shocking when you note that sales were down 26 percent in Howard, down 29 percent in Anne Arundel and down 30 percent in Prince George’s County.
And the Rule of Law Resolution is supposedly hurting the economy? Once again, Prince William outperformed every other jurisdiction in the DC Metropolitan area. The illegal alien lobby is going to have to start coming up with a new complaint pretty soon, as the doom-and-gloom “it’s going to hurt our economy” mantra is starting to look awfully silly.
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The illegal alien new mantra is that apples will now cost us $20 and we will be paying more for food - how that rationale works, I have no idea. And, oh yeah - we won’t have any unskilled labors to do jobs! Gasp! Who will cut my grass?
OT - Help Save Maryland will be hosting rally’s at 3 MVA sites tomorrow. Virginia Patriots are welcome to join us.
FELLOW LAW-ABIDING CITZENS OF MARYLAND, PLEASE JOIN HELP SAVE MARYLAND MEMBERS AND FRIENDS AS WE RALLY AGAINST OUR LAWLESS, PANDERING, ILLEGAL ALIEN SUPPORTING GOVERNOR. LET’S REMIND O’ MALLEY HE WORKS FOR THE CITIZENS OF MARYLAND, NOT CASA OF MARYLAND! TIME FOR MARYLAND TO ENFORCE THE LAW! NO LICENSES FOR ILLEGALS.
WHEN: SATURDAY, MAY 17, 9 AM-11 AM, RAIN OR SHINE
WHAT TO BRING: AMERICAN FLAGS, CAMERAS, VIDEOS - SO WE CAN PHOTOGRAPH THE LONG LINES OF ILLEGALS WAITING FOR A LICENSE. SIGNS - SUPPORTING REAL ID ACT; OPPOSITION TO O’ MALLEY & CASA OF MARYLAND; NO LICENSES FOR ILLEGALS, ETC. –KEEP IT POLITE PLEASE!
WHERE: 3 MARYLAND MOTOR VEHICLE ADMINISTRATION (MVA) SITES. PICK THE LOCATION NEAR YOU. CONTACT YOUR COORDINATOR FOR FURTHER INFO AND A CELL # :
1- GAITHERSBURG (MONTGOMERY COUNTY)
GAITHERSBURG MVA
15 Metropolitan Grove (off Clopper Road)
Gaithersburg MD 20878
Easily accessible from MD Rt 117 (Clopper Road). MVA sits on corner of Metropolitan Grove Rd & Metropolitan Court. Main entrance is actually on Metropolitan Court.
http://www.marylandmva.com/LOCATION/montgomerycounty.htm
PARKING -MVA Overflow lot about 200 yards further down Metropolitan Court, easily 200 spots. There are multiple office parks on South side of Metropolitan Court with plenty of parking, too. MoCo Dept of Human Services is also back there.
MEET - There are public sidewalks on both sides of Metropolitan Grove Rd and Metropolitan Court.
2 - GLEN BERNIE (ANNE ARUNDEL COUNTY)
GLEN BERNIE MVA
6601 Ritchie Highway NE
Glen Bernie, MD 21062 (off I-695, Exit 3B, Rt 2 South)
http://www.marylandmva.com/LOCATION/annearundelcounty.htm
PARKING - Across the street at the Arundel Plaza by the Lowes Dept. store. It’s just off the Baltimore Beltway Exit 2. Once off the Beltway it’s the first traffic light on Ritchie Hwy.
MEET - Public Sidewalk in front of MVA Building
3- BELTSVILLE (PRINCE GEORGE’S COUNTY)
BELTSVILLE MVA
11760 Baltimore Avenue
Beltsville, MD 20705 (MD Route 1)
http://www.marylandmva.com/LOCATION/princegeorgescounty.htm
PARKING: Parking adjacent to the MVA building
MEET - Public sidewalk in front of MVA Building
SPREAD THE WORD. BRING FAMILY AND FRIENDS.
Ever heard of the recession saying”Dead cat bounce”
I think the treatment of illegals is not helping.
But PWC real estate is dependent on the automobile situ.
With increasing fuel prices, its more expensive to commute to dc.
Therefore its depresses real estate.
(Just back from Florida, the Florida real estate market is dead)
Don’t worry, the county will cut your grass for $450!
The only people hurt by the illegal aliens leaving PWC are those that catered to them in the first place.
Someone had a suggestion in Herndon to show that our teenagers can out do the invaders. The vice mayor, Dennis Husch(R) said that the town would have to use it’s own workers to mow the lawns of all the foreclosed properties. That means that the taxpayers may have to foot the bill for the mess that the illegals made. This is not quite true because since the banks own the foreclosed lots they should foot the bill. But there was a suggestion that the town should make a contract with local teens to mow the foreclosed lawns this summer and have the banks pay them to do it. It would insure that the work is done by honest labor, give a bunch of kids a great opportunity to make some money and it would show that we don’t need illegal slave labor to get by.
I don’t know about you, but I would rather live in a clean neighborhood where the kids have respect for their country and try to maintain it verses Illegals getting payed to clean up a messes they make with my tax dollars! We have these out of control lawns are here in Sterling too. I hope Delgaudio will do something similar for the citizen teens in Sterling park.
My congrats to Herndon’s re-elected town council, ideas like this prove Herndon is heading in the right direction.
Is anyone talking about this in PWC?
There is no rosy picture of the PWC economy. The housing market is in horrible shape. The restaurant industry is drying up. Overall people are hurting. There is not any one single reason. Groceries are sky-high as is gasoline. The housing market bubble burst.
Areas like PWC where there is no major public commutor transportation will not recover like an area served by metro.
So lets see, the county is losing 85 employees, the school board budget is millions short where it started out. Teacher pay is not competitive and class size keeps growing. Restaurants are hurting, including some of the specialty chains. At least one locally owned restaurant has closed its doors. Channel 5 news reported that there are 6000 foreclosures in PWC and MP and MC. 50 of them are on Weems Road. Amazingly bad!
Let the good times roll!
[Ed note: the budget cut that would have lead to a reduction in force of approximately 85 employees was not approved by the BOCS.]
One of the reasons that real estate sales has picked up is because the bank-owned foreclosure properties are being listed and up for sale. I know agents and investors are scooping a lot of them up the day they hit the market. People can get a good deal with a lot of them, including the Latino population. One disturbing thing I saw about 3 weeks ago …. the purchasers (Latino) of a foreclosed-on property, nice house real cheap, had just been foreclosed on themselves about 1.5 years ago. The previous home they evidently walked away from was as big as the one they purchased - and for half the price. I hope this does not become a tread. I thought someone was kidding me when they said that a foreclosure on your credit report was not as bad as late payments on credit cards. I guess they might be right.
I hope this was a fluke .
Dolph,
You said it.
I think we ALL need to look further into what the HELL is going on/the BIG picture in our NATION and WHY we are paying these gas prices and WHY the economy is the way it is. I am really thinking more and more that the immigration debate is a DISTRACTION. Why now after ALL these years is the wave rolling in our country ( the outrage)
This is good news. Although some of these houses are probably being bought up by slum lords. However if they have deep enough pockets and can sit on them a while they might flip them at a higher price down the road. The house next to me sold and the investor plans on renting it for about 2-3 years and selling it when the market comes back strong. We have to see how it plays out. Its the bad times when the rich get richer.
Red Dawn,
I think the oil prices are this high because the government has all kind of silly laws concerning oil exploration, drilling and refining. And they have all kinds of silly laws they want to make concerning carbon emissions. The oil companies don’t want to make a move until they know what the laws are going to be in the coming years. (carbon taxes and such) Also the government needs to allow for nuclear energy to power our cities. Those two things alone will bring the price of fuel down.
Our government seems to be determined to turn our nation into a third world country. Our whole standard of living is under attack. All they do is listen to the special interest. Well I will tell them this much, my interest isn’t saving polar bears. My interest is putting fuel in my tank and food on the table but these stupid politicians think it is more important to put food in the tank. Meanwhile I pay more at the store and people in third world countries starve to death because they can’t afford the food or the fuel needed to transport it. We are a very arrogant nation, thinking we can save the world while we are letting people starve. Maybe Obamas preacher is right we are killing people unjustly.
Red Dawn,
Very much of a distraction. But then again, we have discussed this issue;)
No_to_daylabor said on 16 May 2008 at 5:55 pm:
Someone had a suggestion in Herndon to show that our teenagers can out do the invaders
===========
As much as I would love to see a summer work program where area teens can earn some money (the old fashioned way), such legal arrangements can not be made with a minor.
First, knee-high grass can not be cut with a residential push or power mower. A commercial mower is required and teens (aka - minors) are not allowed to operate this type of equipment on a “for hire” basis.
However, once the over grown lawns are brought under control, teens may be able to negotiate a private, regular mowing schedule with the legal owner of the property, just as we did when we were kids … no written contract, agreed schedule and price - no benefits and no insurance coverage.
Herndon is also talking about going on to HOA property to enforce basic grounds maintenance. This is a hornets’ nest in which the town should not involve itself. It would be better to leave this to the HOAs as a system of enforcement is already in place.
ddpdrinker,
I hope I just misunderstood what you said…and I am afraid I didn’t. Did you just say that a couple walked away from a house, it went to foreclosure, and that same couple came back in and bought the same house for half the price?
Oh tell me I misunderstood you. Please tell me.
june_reston said on 17 May 2008 at 7:26 am:
First, knee-high grass can not be cut with a residential push or power mower. A commercial mower is required and teens (aka - minors) are not allowed to operate this type of equipment on a “for hire” basis.
==================
When I was a kid, I was able to cut knee-high grass down without having to use a industrial mower. It takes a bit of sweat & guts, but you can get it done.
I don’t know about those fancy HOA’s in Reston, I guess they have a lot of complex landscaping to deal with (just don’t deal with it using slave labor) Our older neighborhood is not that complex, I’m going to bring this issue up with the board on Tuesday night, the president has a couple of teenage boys who probably would like to make a little money this summer. I don’t think anyone will have a problem chipping in a little to have the kids mow a couple properties we are having trouble with.
you can use a ride on mower if your 17 and have a license I believe. Heck I used my grandpa’s tractor on his farm in the summers when I was 12. Times sure have changed.
Dolph,
ddpdrinker speaks the truth. We saw it happen a block away. They said they walked away from that house because they could buy the same house around the corner for half the price. They did just that very thing.
ddpdrinker,
Unfortunately, I think you buy your way out of or into any kind of loan with the right “loan sharks”. I hope these two instance are just flukes. It’s just simply amazing the things we see these days.
Dolph said on 16 May 2008 at 10:42 pm:
The restaurant industry is drying up.
It wouldn’t be that there is an overabundance of restaurants in the Manassas area woodjuhthink? The only ones I see dropping off are the ones that cater to primarily Latinos. There is another NEW restaurant (BACKYARD GRILL) going in at Williamson Blvd. and Sudley Rd.
There is no rosy picture of the PWC economy. The housing market is in horrible shape.
At least one locally owned restaurant has closed its doors.
The real estate problem is country wide not just county wide. Is the restaurant you refer to in old town? If it is the one I think it is, it closed not because of lack of customers.
june_reston said on 17 May 2008 at 7:26 am:
First, knee-high grass can not be cut with a residential push or power mower. A commercial mower is required and teens (aka - minors) are not allowed to operate this type of equipment on a “for hire” basis.
All you need is a couple of kids with sickels or machettes (as they do in Nicaragua) to cut the tall stuff down and then use the push mower. Lil bit more time involved but it will work (and for say $20.00 an hour, who cares?)
Dolph said on 17 May 2008 at 8:28 am:
ddpdrinker,
I hope I just misunderstood what you said…and I am afraid I didn’t. Did you just say that a couple walked away from a house, it went to foreclosure, and that same couple came back in and bought the same house for half the price?
Oh tell me I misunderstood you. Please tell me.
THAT COULD NEVER HAPPEN IN TODAY’S MARKET. People with top notch credit reports are having trouble trying to buy or refinance.
First, knee-high grass can not be cut with a residential push or power mower. A commercial mower is required and teens (aka - minors) are not allowed to operate this type of equipment on a “for hire” basis.
NO one under the age of 18 is allowed by OSHA to operate a power mower of any size for hire per the laws. If you want to take that chance that nothing happens to them go ahead but if they get hurt get ready to turn over everything you own except first born. NO one will take them in payment for fines and damages.
Bob Wills said on 17 May 2008 at 4:47 pm:
“NO one under the age of 18 is allowed by OSHA to operate a power mower of any size for hire per the laws. If you want to take that chance that nothing happens to them go ahead but if they get hurt get ready to turn over everything you own except first born. NO one will take them in payment for fines and damages.”
===============
No offense Bob, but that seems like a wimpish stand to take. I’ve mowed lawns since I was 11 and I have yet to loose a finger, leg or foot. It’s all this OSHA and Insurance BS that got us into this mess in the first place. People would let these Illegals mow these lawns with no safety equipment or training, but they won’t even let a natural born American kid touch a push mower because they might bleed a little? America was built on hard knocks and our kids are going to have to learn to take um unless we get utterly invaded by the illegals who could care less about OSHA, but get our money anyway.
Vigilant1 said on 17 May 2008 at 4:25 pm:
“All you need is a couple of kids with sickels or machettes (as they do in Nicaragua) to cut the tall stuff down and then use the push mower. Lil bit more time involved but it will work (and for say $20.00 an hour, who cares?)”
===============
Vigilant1, If those kids are going to be handed a bunch of BS OSHA red-tape, then this is the approach I would take, a couple machetes and a sickle is crude, but it’s good hard work and not much harder than pulling up dandy lions by the roots with a hammer. It’s pretty pathetic sounding though, in the richest, most technologically advanced nation in the world the only way the kids can compete with the illegals is by cutting lawns with sickles and machetes. By the time they are allowed to pull the throttle of a push-mower, they can’t get a job because homeowners and HOA’s decided that Illegal Aliens are cheaper and more efficient.
Makes you wonder what some peoples motives really are?
I would like to know how anyone could possibly stand before the BOCS with a straight face and tell them that it will cost $450 to mow each lawn.
Vigilant1,
No restaurant has made it in that spot on Williamson and Sudley Rd. It sort of has the bad restaurant curse like the old Presbyterian Church restaurant.
The old town restaurant has many issues, some reported and some unreported. Their business had also really slowed down. Probably the other issues could have been resolved if the customer base were where it was 2 years ago.
Other restaurants in the area are hurting. However, you are right that the problem is national in scope. However, I do believe our area has been hit particularly hard.
Dolph , Lafayette: I’ve not been on computer today - I am in Ocean City cruising the hot-rod. Beautiful weather here.
The purchaser bought a similar home to the one they walked away from at almost half the price.
Anonymous: It IS happening in today’s market … still. Prices are lower and more people can qualify, even with a lower score. Believe me, it IS happening.
The Restaurant in Old Town — O’Meara’s? Did not close for lack of business.
It closed for several reasons. Business has been slow for almost a year. Now why it has been slow is another story.
ddpdrinker,
Enjoy OC. It has been a long time since I have been to the beaches up there.
O’Meara’s also had about $30,000 in fines from ABC violations that they were able to evade by surrendering their liquor license. Without it, there’s no reason for them to stay in business.
“First, knee-high grass can not be cut with a residential push or power mower.”
I’ve cut knee-high bushes down with a residential push mower. (Actually it was more like a small tree..)
Then wouldn’t it be cheaper for the county to have the grass mowed on all empty houses, once a week?
Very true, re O’Meara’s. However, a restaurant on a good business track would be able to absorb these fines. (and perhaps also would not have incurred the fines)
The restaurant closed for several reasons. One of these reasons is over the past year, their business had declined. Perhaps its time had come.
There are always plenty of kool-aid drinkers around when there are challenges knocking at our door. Life is bad, gas is high, restaurants are closing, housing prices are down, the school budget is short, the rule of law program has put us on a fast track to hell, etc. etc.
The world will not come to an end anytime in the next 10 millenium because of global warming, and the polar bears will be around for thousands of years. And PWC will thrive with the influx of new people fleeing counties which do not have the rule of law , they are buying houses here right now. Gas prices will be whatever they will be, anyone notice there have been no shortages? No lines like the 70s when even if you COULD pay there was NO GAS to be had. And somehow the people of Virginia and PWC will figure things out like they always do. So I for one have no intention of drinking any kool-aid yet, you are welcome to my share if you want it. Cheers
I guess O’Meara was too busy hosting his trashy, crude radio show to pay attention to his business.
The old Bertucci’s/Damons restaurant that is being referred to is simply in a bad location for access. To get to the parking lot, one has to wait at a long light, and to get back onto 234 requires a U turn and another long traffic wait. Too much hassle for some folks to get mediocre pizza or greasy barbecue. Only a really popular restaurant could overcome the poor location.
I have some very good friends that have owned restaurant for thirty years and they don’t have the business they once had. They are paying almost three times what they were flour. Everyone is effected by these hard economic times. We ALL eat and use gasoline. I don’t think the average person has the money for eating out, and such things these days.
***
jfk,
You are sooo right about Bertucci’s/Damon’s!! Hell, it’s been about 8/9 years that place has been sitting empty. Oh, let’s not forget Pargo’s now City Grille sat empty for years as well. That location is like it’s been cursed. I seriously doubt this new restaurant will thrive and last more than a year or two. We’ll have to wait and see.
***
ddpdrinker,
OC!! Wooo Hooo. I am like Dolph, I’ve not been there in years myself. Of course the “creative financing” is still happening. Have a safe trip home and I hope to see you sometime soon.
“THAT COULD NEVER HAPPEN IN TODAY’S MARKET.”
That’s what I thought as well, until I met our new neighbors. They said they owned a home further out about the same size, but with pool and more land/horses that they bought in 2006 for over $1 mill. They went into foreclosure earlier this spring and were still able to buy a $600K home that was a short sale just 3 months later. They said what they did only made sense since they’d obviously paid too much for their first home. Shocking that they were so honest, but even more shocking, how the heck did they qualify for the purchase of this one with that on their record?
When we bought our house a few years ago, they were demanding every little last pay stub, bank statement, tax return, etc. AND we were putting more than 20% down.
jfk,
I agree about bad access. It is a real pain getting in and out of that restaurant. I did like the ribs though;) For that reason alone, I was sorry to see it go.
This new place looks like it will be owned by the fellow who owned the Black Orchid in Annandale. That used to be a wonderful place to eat many years ago. I hadn’t thought about it for years.
no_to_daylabor said on 17 May 2008 at 6:25 pm:
Bob Wills said on 17 May 2008 at 4:47 pm:
“NO one under the age of 18 is allowed by OSHA to operate a power mower of any size for hire per the laws. If you want to take that chance that nothing happens to them go ahead but if they get hurt get ready to turn over everything you own except first born. NO one will take them in payment for fines and damages.”
===============
No offense Bob, but that seems like a wimpish stand to take. I’ve mowed lawns since I was 11 and I have yet to loose a finger, leg or foot. It’s all this OSHA and Insurance BS that got us into this mess in the first place. People would let these Illegals mow these lawns with no safety equipment or training, but they won’t even let a natural born American kid touch a push mower because they might bleed a little? America was built on hard knocks and our kids are going to have to learn to take um unless we get utterly invaded by the illegals who could care less about OSHA, but get our money anyway.
No to day labor
you have every right to do what you personaly want in business but facts are facts and there is nothing wimpisg about OSHA and what they do. As a Rule of Law proponent that you are I guess some laws are to be obeyed and some not ??
I very aware of what America was built on and worked for a pay check back when there were no child labor laws to prohibt hiring some one who was 11 or so.
MANASSAS, Va. — Officials said Prince William County has the highest foreclosure rate in Virginia, with at least 7,000 vacant and foreclosed homes in the county.
According to the D.C. Examiner, the county is considering a plan that would put county police officers, teachers and firefighters into those homes.
Officials said they would use $20 million from the county’s investment pool as leverage to get low interest home loans for county employees.
The Board of Supervisors will take up the proposal on Tuesday.
Hate to say it, but the foreclosures are indeed what is spurring the sales. When they get to be dirt cheap like they are, investors are going to snap them up. This is not exactly a good thing, they will become rentals and possibly get back to being overcrowded. Personally, I’m not optimistic about this - in fact in my townhouse neighborhood in the City of Manassas there are a number of foreclosures in the $170K range - a year ago townhouses were being sold in the $340K range there. More sales at foreclosure prices is not exactly a sign of recovery. I’m looking at moving out, and probably will have to rent my townhouse out as it will be impossible to sell it at a good price when it has to compete with foreclosures right nearby.
I am late to this thread but I hope I can address a couple of things.
I started looking to buy; a couple of months ago , my realistic price range (at a couple of years ago prices) was for a town home.
At the time I thought the market was over inflated so I did not buy.
Once I started looking it did not take me long to realize, that I can buy a short sale/foreclosure SFH for roughly the same price my friends paid for their townhouse (approx 100k more then what my brother paid in 1998 for his SFH in Fairfax).
I also focused my search on PWC because of the press they have been given.
“anon said on 19 May 2008 at 9:40 am:”
I would be worried as well. The foreclosures are causing me to look at Single Family homes rather then town homes. I hope to close on a 4 bedroom single family home in roughly 3 weeks, rather then a 3 bedroom townhome.
Plain and simple there was a nice 10 year ride with DC real estate, I only expected it to last 5 years.
PWC sales are outpacing the region because the initial decline in home prices outpaced the region. Property values did not fall in Fairfax or Loudoun nearly has much as they did in PWC. It is a matter of basic economics.
I am glad to see sales are up, though, considering my house is now worth nearly half of what it was three years ago.