Is Washington's Market Making a Slow Recovery?

Elizabeth Razzi, Washington Post writer, chatted over lunch with two deans of the brokerage business, John McEnearney, 81, founder of McEnearney Associates, and P. Wesley Foster Jr., 74, founder of Long & Foster Real Estate. Her hope was to gain some perspective on the Washington-area housing market.

Some of the things the trio touched on were:
1. How does this market compare with others you've seen?
2. How much longer might the market go on like this?
3. How much of the run-up in prices was due to inflation, and how much to changes in the Washington area?
4. What should buyers do now?
5. Advice for sellers?
6. What if the economy doesn't recover soon?
7. Is traffic a housing issue?

If any of these questions are of interest to you, click here to read Brokerage Barons See Washington Making a Slow Recovery article from Saturdays Washington Post.

Until next week..

Angela Jones
AngelaJonesRealEstate.com

N.Va. Foreclosures Form 'Ring of Fire'

Chain of Housing Crisis Hot Spots Indicates Disparity in Market Downturn

By Nick Miroff
Washington Post Staff Writer
Sunday, March 23, 2008

As the surge in foreclosures continues and banks repossess more and more houses, property values are declining -- but not everywhere, and not by equal measure, Thompson and other real estate agents said. No part of the region is untouched, but most foreclosures are clustered in certain neighborhoods and several troubled Zip codes. Rather than a sea of slumping housing, Northern Virginia has an island chain of hot spots.

As a whole, the Washington region was doing much better than other parts of the country, mostly thanks to low unemployment. "All the local fundamentals remain strong,"

This is an interesting article...please click here to read the entire "Ring of Fire" article.

Have a great week...

Angela Jones
AngelaJonesRealEstate.com