Double and Triple Dips in Real Estate Markets

by Karen Briscoe
November 17, 2014

Double & Triple Dips in ice cream cones can be a good thing, unless you are watching your weight. Double & Triple Dips in roller coasters is a good thing, unless you have a weak stomach. Double & Triple Dips in the real estate market can be a good thing, just depends on your perspective. A little over three years ago in 2011 the headline on on the spookiest day of the year was scary for the real estate market: Home Prices Heading for Triple-Dip. The link for this article is:

And as is the case with ice cream and roller coasters, what matters is your perspective. The index for the Washington-Arlington-Alexandria, which is further delineated as DC-VA-MD-WV Metropolitan Division forecasted a correction in 2012 of -3.2% and for 2013 an uptick of +2.3%. This is the link for predictions for the DC market area:

In 2011 when counseling a buyer, I would say: “What are you waiting for, prices to go up? It is a tremendous time to buy”. Waiting too long may very well mean higher prices. It is actuallya tremendous time to be a seller as well because the buyers recognize that prices are on the verge of going up and are coming back into the marketplace. Turns out that was a good prediction as what actually occurred in Northern Virginia market area was an uptick of 4.4% in 2012 and 7.1% in 2013.

I entered the real estate business in 1982 in Dallas, Texas with Crow Development Company, a division of Trammell Crow Residential. In 1982 the economy was in a recession and interest rates were close to 18%, yet we developed lots and sold them to builders who built homes for people. In 2014 interest rates remain historically low, oftentimes below 4% and prices relative to earnings are in line for most markets in the country.

The cyclical theme is Biblical: remember the 7 years of plenty and 7 years of want in the Old Testament, read Genesis 41:29-30. In Northern Virginia from 1982 to 1989 there was 7 years of mostly upward mobility in real estate values. In 1990 to 1997 there was 7 years of mostly downward values in real estate. In 1998 to 2005 there was 7 years of predominately upward trends in real estate. And in the 7 years of 2006-2013 the market was mostly correction and downward focus of real estate values. That means 2014 should be the beginning of the upswing in real estate values.

If you are a buyer and wait too long, you might miss it. If you are a seller and this is the right time for you to make a move, then just do it. 2015 is right around the corner!

Karen Briscoe and Lizzy Conroy are Realtors ® in the Northern Virginia, Washington DC and suburban Maryland market place and would be delighted to assist whether for home buying or selling. Please contact via the means most convenient for you:, 703-734-0192,

Karen Briscoe is Principal of the Huckaby Briscoe Conroy Group (HBC) and author of "Real Estate Success in 5 Minutes a Day". She is an Associate Broker in Virginia, a Certified Luxury Home Market Specialist, and a member of the Women’s Council of Realtors. Karen began her real estate career developing residential lots with the Trammel Crow Company in Dallas, and in commercial real estate with The Staubach Company in the Washington, DC Metro area. Karen has a Masters Degree from Southern Methodist University and her BA from Stephens College in Columbia, Missouri – her hometown.
Log Out
Log In