CC Village asking $2M vs 2019 no apparent work

[Anonymous]

This seems crazy! The whole house is so dated. They clearly didn’t do anything from buying in Jan 2019 for $3.1, now asking $5.1. Except maybe put on the ugly dark downspouts. I know the location is prime but SMH

https://www.redfin.com/MD/Chevy-Chase/5804-Cedar-Pkwy-20815/home/10641178?600390594=copy_variant&1778901559=variant&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet

[Anonymous]

Why do they have to do something if it still sells. We would do the same with our old finishes from the 80s if we were to sell. It definitely suck as a buyer right now even with the high rates.

[Anonymous]

Anonymous wrote:Why do they have to do something if it still sells. We would do the same with our old finishes from the 80s if we were to sell. It definitely suck as a buyer right now even with the high rates.

Yeah I like how OP apparently has some standard of work that must be done on a house before the owner is allowed to sell it. Who would enforce this standard?

[Anonymous]

I’m looking in that area and with a good budget but I agree with OP that this does not seem worth it. Lets see what happens.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Why do they have to do something if it still sells. We would do the same with our old finishes from the 80s if we were to sell. It definitely suck as a buyer right now even with the high rates.

Yeah I like how OP apparently has some standard of work that must be done on a house before the owner is allowed to sell it. Who would enforce this standard?

64% price appreciation on an already expensive house usually comes with perhaps painting the ugly red walls in the dining room at least.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why do they have to do something if it still sells. We would do the same with our old finishes from the 80s if we were to sell. It definitely suck as a buyer right now even with the high rates.

Yeah I like how OP apparently has some standard of work that must be done on a house before the owner is allowed to sell it. Who would enforce this standard?

64% price appreciation on an already expensive house usually comes with perhaps painting the ugly red walls in the dining room at least.

How much price appreciation is acceptable without painting? 57%? Just trying to understand the calculations.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why do they have to do something if it still sells. We would do the same with our old finishes from the 80s if we were to sell. It definitely suck as a buyer right now even with the high rates.

Yeah I like how OP apparently has some standard of work that must be done on a house before the owner is allowed to sell it. Who would enforce this standard?

64% price appreciation on an already expensive house usually comes with perhaps painting the ugly red walls in the dining room at least.

How much price appreciation is acceptable without painting? 57%? Just trying to understand the calculations.

How about this—wow, the price appreciation on this particular property seems very high since purchased in 2019. It will be interesting to see if in this hot market it can sell for that. That work for you?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why do they have to do something if it still sells. We would do the same with our old finishes from the 80s if we were to sell. It definitely suck as a buyer right now even with the high rates.

Yeah I like how OP apparently has some standard of work that must be done on a house before the owner is allowed to sell it. Who would enforce this standard?

64% price appreciation on an already expensive house usually comes with perhaps painting the ugly red walls in the dining room at least.

How much price appreciation is acceptable without painting? 57%? Just trying to understand the calculations.

How about this—wow, the price appreciation on this particular property seems very high since purchased in 2019. It will be interesting to see if in this hot market it can sell for that. That work for you?

It does, actually. Because it doesn't imply that everyone else has the same tastes or interests that you or I do. That's the thing I can't stand about so many responses I see here to individual homes. Someone will say "Ew it's ugly what a ridiculous price" and then it goes for 150k over asking. This idea that there is some sort of implicit moral and financial failure if something doesn't appeal to you, is so strange to me.

[Anonymous]

You can see from the photos that they painted the dining room that color! It also looks like they redid the kitchen. Obviously not for $1m. I have no idea if it will sell for this, it's a beautiful house and the people who will buy it will have a lot of money.

[Anonymous]

The kitchen is ridiculous for a $5m home. The fridge and microwave aren't built-ins, builder grade backsplash and counters, no built in trash can. Bathrooms are clean but builder grade. no style in this house at all. Just because people are rich enough to afford $5M doesn't mean they would be foolish enough to spend it on this house. I'd pay $3.75 at most, and then mostly for the lot.

[Anonymous]

There is a huge difference in the 2019 and 2024 housing markets. However, at that price point, I would not expect that appreciation.

[Anonymous]

Did anyone go look at it?

[Anonymous]

Location, location, location.

As OP stated, this location is prime.

It's tucked away from traffic, right next to Chevy Chase Country Club's golf course.

I have a friend who used to live on this street, and it was such a pretty street and location.

It will probably be purchased by a DC lobbyist or lawyer, and torn down or substantially renovated.

[Anonymous]

I remember going to an “open house” in this area back in the early 2000s for a raggedy piece of property—where you could see the sky through the cracks in the ceiling and it looked like two mobile homes stapled together selling for nearly 1 million.

[Anonymous]

Who cares if some rich lobbyist buys a 5 million dollar house. It’s not like a middle class family would have bought it at 3 million