No. of Recommendations: 2
Inventories 'Quadruple' In Loudon County
http://thehousingbubble2.blogspot.com/2005/08/inventories-quadruple-in-loudon-county.html

As this report from Loudoun County reveals, the language is changing. "In a survey conducted by Leesburg Today in May, some local Realtors hinted at a possible softening in the Loudoun residential market. Most reported an across-the-board slowing, a build up of inventories and a shift in power from the seller-dominated market of the past few years back to the buyer."

"Purcellville Realtor Carl Fischer calls the shift 'a correction from lunacy,' saying the price appreciations of the past several years were not sustainable. Sellers' expectations became unrealistic, according to Fischer. For example, he said a house worth $400,000, 'in this nutso market you could get $450,000.' 'Sellers have become so open minded in their expectations that they're disappointed if they don't get $500,000,' he said."

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