Expert: Zillow 'Not A Crystal Ball' When It Comes to DC Home Values Report

WASHINGTON (WUSA9) --A new report is offering discouraging news about the real estate front, particularly in our area.Zillow says D.C. home values could go flat next year.

Mary Lou Dell with Long and Foster told us, "I was very surprised to see the report, andI have gone over it andI looked at other things, and i think Zillow is not a crystal ball and neither am I.I always say I left it at home.

We see things in a very positive light. More and more houses are coming on the market. Between April and May there was an increase of about 20%. ... Since the inventory is increasing, it's not necessarily going to make things go flat."

Pricesmay stabilize, says Dell.

Right now, real estate experts are saying it's both a seller's marketand buyer's market. "...which is very unusual. It's a seller's market because we have the bidding wars, but it's a buyer's market as well because they are coming with lower interest rates giving them an opportunity to buy more of a house or pay more money. And with bidding wars, oftentimes they have to go up. We don't see over the next year the doom and gloom," explained Dell.

If you have a house for sale or you're thinking about selling your house, now is the time to put it on the market.


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