Thursday, February 15, 2007

Zillow: David Lereah's House Declining In Value

David Lereah's primary residence, like other houses in the Washington, DC metro area, is losing value. According to Zillow the peak price for Mr. Lereah's house was 959K in June 2006. Since then the price has declined about 11% to an estimated (Zestimate) price of 852K.

It is ironic that David Lereah's house is losing value while he is busy declaring the bottom of the housing bubble every few months.

Mr. Lereah lives in a large 5 beds, 5.5 baths, 3,068 sq ft located in the outer suburbs. Mr. Lereah's property tax assessments on this house were $7,520 in 2006.

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19 Comments:

At 10:11 AM, Blogger FRANK LL0SA Broker said...

Doesn't Zillow.com have a "Make me Move" function where they will send unsolicited offers to the owner? What would YOU pay for this house?

Try it. Maybe he is looking to liquidate!

Frank- Va Realtor/Broker
BLOG.FranklyRealty.com
As featured in BusinessWeek, NY Times, WSJ and CNBC.

 
At 10:15 AM, Blogger keith said...

great work david! I just posted a link to you.

Anyway you can find out what investment properties this guy owns?

He's the Henry Blodgett of the housing crash.

keith (housingpanic)

 
At 11:08 AM, Blogger tmaioli said...

Good find - we need to follow this and see how his statements track with his home value. hahahahaha

 
At 7:39 PM, Blogger tmaioli said...

852K/ 3,068 sq ft = $277.7/sq ft

Better than:

Manufactured housing models have come a long way since earlier days. With costs hovering at about $38 per square foot versus $78 for a traditional site-built home, buyers represent all walks of life.

http://www.memphisdailynews.com/Editorial/StoryFocus.aspx?&id=96132

 
At 3:39 AM, Blogger Peterello said...

I looked up "denial" in the dictionary and it simply stated "see: David Lereah". The guy's comments are an absolute joke. I laugh out loud every time I read his "analysis" quoted on marketwatch - a five year old could spot the absurd, unfaltering bias in every single comment he makes.

How funny would it be for someone to infiltrate a social situation, catch him off guard, and tape record him saying what he really thinks about the market!

 
At 4:22 AM, Blogger sixpercenter said...

How many times can he lie before he's indicted?

 
At 9:21 AM, Blogger stevebopp said...

so what's his address?

 
At 9:21 AM, Blogger stevebopp said...

This comment has been removed by the author.

 
At 1:37 PM, Blogger Bruce Dickinson said...

The Washington Post allows you to search by name in their RE section. I think I found two investment condos in Northern VA. I recall one was a really bad buy. A condo conversion in a crappy place like Landmark, Alexandria right at the 2005 peak. I have also heard that he has investment property in FL. What a dumbass..... I guess that he believed the crap in his two-bit book.

 
At 1:52 PM, Blogger Oil Shock said...

When ever I see him on TV, waving his pom-poms, I go to amazon.com to read reviews of his book. LOL

-Oil Shock

 
At 6:18 PM, Blogger betamax said...

Big house. Let's start a rumor that he's hiding WMD's in there.

Bush will take care of the rest.

 
At 5:29 PM, Blogger mike said...

Watching with interest from England

http://www.housepricecrash.co.uk/forum/index.php?showforum=22

 
At 8:59 PM, Blogger AnalysisGuy said...

Absoluting awesome! I'm glad this self-absorbed and self-serving idiot is losing some value himself. I just hope his home price falls like I just shot up 2006 San Diego Home Prices. OUCH!

 
At 2:04 PM, Blogger loans4you said...

zillow.com is a fake. Their values have not even come close to any appraisals that we have done. don't pay any attention to zillow values.

 
At 4:14 AM, Blogger JuliusCleaver said...

You posted how much he paid for the condo. Why not post how much he paid for the house?

 
At 12:43 AM, Blogger Richard M. Johnston, Realtor said...

It might have been better if you had a local agent provide a property profile of his home rather than relying on Zillow.com

 
At 7:05 AM, Blogger isthereabubble said...

"loans4you said...
zillow.com is a fake. Their values have not even come close to any appraisals that we have done. don't pay any attention to zillow values."

Maybe because your appraisals are fraudulent? Ah' Just a thought;)

 
At 2:27 AM, Blogger For Sale By Owner said...

I've looked through property listings on zillow. If I'm not mistaken, this website is a partner of Fizber in property listings.

 
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