The NSDCC sales count for April exceeded last year’s number, and prices were slightly higher too. But the rate of price change has slowed considerably, and if rates bump significantly higher, we should see the market stall out.
NSDCC Sales for April
Year
# of Sales
Avg DOM
Median SP
Avg $/sf
% chg
2012
272
82
$807,500
$365/sf
2013
303
42
$955,000
$420/sf
+15.1%
2014
258
50
$1,052,500
$456/sf
+8.6%
2015
268
49
$1,112,500
$473/sf
+3.7%
In the short-term, there is virtually no chance of prices coming down, because sellers won’t believe it. Their motivation is already suspect, and when confronted with the choice of lowering their price or waiting longer, virtually all NSDCC sellers will opt for the latter. It will only be after months and months of trying that they might consider that price is the problem.
This guy doesn’t think the Fed will raise rates in September, and he has been very accurate with his recent predictions. If rates stay around 4% or lower, we should see more soft landing/shambling along, with occasional bidding wars to keep everyone’s interest.
We’ve heard some pretty delusional ways to describe architectural features over the years. There are always certain less-than-desirable elements to any home and it makes sense to soften the bad things by lying circumventing the truth. So what are the most common euphemisms we’ve come across? Read on.
Cozy — Nice try, this means tiny.
Old world — Means just old.
Garden level — Don’t be fooled, this means basement.
Charming — Small/weird.
Shabby chic — Usually more shabby, less chic.
Flooded with light — It’s a nine-story walk up (you’re up so high though!).
Full of character — There’s a toilet in the kitchen.
Funky — On a good day, funky means interesting and cool or it might just mean super smelly.
One of a kind — Maybe there’s a reason they only made one?
Rustic — Run down
Eclectic — Random, haphazard layout and finishes.
Comfortable — This means worn in (if you’re lucky) or (more likely) nearly threadbare.
Original — No one’s bothered to update it.
Open concept — This is a studio where your bed is in the living room.
Great location/close to nightlife — You live above a bar.
We had the biggest week of the year so far – 112 new NSDCC house listings since last Monday. Could it be a sign of more inventory to come?
Probably not – the same reasons for ultra-low inventory are still in place. But a three-week rally would be appreciated before we hit the graduation season!
Click on the link below for the complete NSDCC active-inventory data:
(a) Adjoining landowners shall share equally in the responsibility for maintaining the boundaries and monuments between them.
(b) (1) Adjoining landowners are presumed to share an equal benefit from any fence dividing their properties and, unless otherwise agreed to by the parties in a written agreement, shall be presumed to be equally responsible for the reasonable costs of construction, maintenance, or necessary replacement of the fence.
(2) Where a landowner intends to incur costs for a fence described in paragraph (1), the landowner shall give 30 days’ prior written notice to each affected adjoining landowner. The notice shall include notification of the presumption of equal responsibility for the reasonable costs of construction, maintenance, or necessary replacement of the fence. The notice shall include a description of the nature of the problem facing the shared fence, the proposed solution for addressing the problem, the estimated construction or maintenance costs involved to address the problem, the proposed cost sharing approach, and the proposed timeline for getting the problem addressed.
