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Pastimes : Is a Real Estate Downturn Coming? -- Ignore unavailable to you. Want to Upgrade?

To: SpongeBrain who wrote (31)	6/28/2001 10:45:13 AM
From: TimF	Respond to of 91

A Break for Tenants Rental Boom Over in N.Va; End Seems Near in D.C., Md. I don't know what apartments are going for But I bought a townhouse in Centreville last year for about $115k and recently an indentical townhouse on the same street sold for $145k. I guess the $145k could be a "bubble" price, but its probably not the top of the bubble yet. Price may go down but I don't think they will go below my purchase price. What might happen is they stop growing, but there are a lot of people moving in to the Northern Virginia area so I don't think prices are about to drop in a big way or stay stagnant for a long time. Even if they do stay stagnant for awile I'll do ok because I rent out a room which pays more then half my mortgage. I might not be able to raise the rent but I don't think I'll have to lower it. Tim