Tuesday, December 04, 2007

Back to Business

After wrestling with a very long line at French customs, racing to catch my plane, and watching four movies on my Air France flight, I'm slowly getting back into the swing of things. Among the things I can tell you is that $1.50/euro makes for a very expensive trip and that Air France's on-demand in-flight entertainment system is great - there's nothing like being able to fast forward through the "action" sequences in "The Bourne Ultimatum" to cut to the chase, so to speak.

While I was away:

  • I see that the latest S&P/Case-Shiller Index shows a YoY 6.6% drop in home prices for DC.
  • MRIS' blog had kind words to say about this site today.
  • 1440 Church St NW #504 has apparently gone under contract.

I'll finish for this evening with a photo of a Parisian real estate agency window located on Avenue Mac-Mahon. Multiply the prices by 1.5 to get the US dollar-based price. I can't speak to whether the prices are high or low, but ~$730,000 will get you a 4th floor 3 room apartment near the l'Arc de Triomphe. It's approximately 600 sq ft in size and includes a wine cellar [click on the photo, look at the ad, upper left]. And mortgage interest is not deductible in France.


Anonymous said...

Very nice blog. Really useful content. I did BTW find the heat maps useful for quickly understanding how micro geography is influencing price.

Have you ever considered comparing the MRIS initial listing price to the final sales price? It seems to be it would be a good method of gauging trends in perceived and actual value. As markets soften agents' initial recommendations will have to be lowered more often; when markets heat up, sales will increasingly go above asking. You could create an index for measuring asking vs sales price.

Keith said...

Thanks for the kind words, I'm glad you find the blog helpful.

The information needed to perform the analysis you suggest is not available from a public source. MRIS owns its data and, based on my experience with MLS boards, they hold the data closely. An indicator is provided in MRIS' monthly reports, which include a metric for average percentage of list price attained

Anonymous said...

Welcome back. As a condo shopper, I missed your insight and data analysis. I'd be interested to know what you think about the southwest waterfront area.

Unknown said...