Are these H St. NE / Capitol Hill houses priced appropriately?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why do you think this one has been sitting so long? I know the layout is a bit quirky and the bathrooms could use an update, but very spacious overall even if there are only 3 official bedrooms, there is also a den room. Maybe people don't like the big condo building being next door?

https://www.redfin.com/DC/Washington/629-5th-St-NE-20002/home/9896708

Pretty sure that’s a house next door. Or, at least, that’s the impression it gives from the street. (I guess it could be a very small condo building.) It’s a quirky layout for sure, and many people hate the basement kitchen thing. I’d have to see inside to know for sure but that cutout that brings all the light into the kitchen/basement also eliminates a lot of usable floor space.

Those are two condos next door:

https://www.redfin.com/DC/Washington/625-5th-St-NE-20002/unit-1/home/113745659
https://www.redfin.com/DC/Washington/625-5th-St-NE-20002/unit-2/home/108560160

I think it's just overpriced. $1.25M isn't unreasonable for 2100sf, especially that close to Union Station, but it is a bit on the high end—and it's more likely to be the result of a bidding war for a house that listed lower than a good starting price. And I'm seeing right that they listed it in May at $1.2M, then increased the price two weeks later to $1.25M? That does not sound like the strategy of a motivated seller.

We went to the open house for this one today and were surprised how much we actually liked it. The layout is definitely quirky, but it kind of works when seen in person. It's got kind of an updated '70s contemporary vibe. The kitchen doesn't feel that much like a basement kitchen—opening the ceiling for a two-story dining area probably helped with that.

Dunno if it'll go for $1.25M, and the large (for a two-unit) condo next door is still an issue, but the pricing doesn't seem quite as ridiculous now, IMO.

[Anonymous]

Anonymous wrote:I was hoping to attend the open house for this home yesterday but it was canceled.
https://www.redfin.com/DC/Washington/615-K-St-NE-20002/home/9898330

I thought the listing price was a little high but now I’m assuming the sellers will get it.

Why would they cancel the open house instead of viewing all offers on Tuesday? The only way I would accept the first offer would be if it were significantly over asking. The sellers missed an opportunity if this closes for less than $1.2M.

[Anonymous]

Anonymous wrote:Thoughts on this one?

4BR/3BA, 1814sf, $990,000:
https://www.redfin.com/DC/Washington/403-6th-St-NE-20002/home/9899007

The location is great, but it's kind of an odd mix of original features and ill-chosen updates. I don't think I've seen a rowhouse that has both original unpainted woodwork still intact but also has that stupid oval door. It looks like they replaced the hardwood floors at some point, the kitchen and baths look dated (and not in a vintage way), and there's so much carpet.

I can't decide if the interior will be too off-putting or if someone will see its problems as easily fixable.

Over a month later, this is still sitting—without a price drop. I wonder if something is wrong with it other than the obvious.

I also find it kind of hilarious that the agent lists "approximately 20 minutes by car from Amazon's HQ2 complex" as a feature for a Capitol Hill rowhome.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Thoughts on this one?

4BR/3BA, 1814sf, $990,000:
https://www.redfin.com/DC/Washington/403-6th-St-NE-20002/home/9899007

The location is great, but it's kind of an odd mix of original features and ill-chosen updates. I don't think I've seen a rowhouse that has both original unpainted woodwork still intact but also has that stupid oval door. It looks like they replaced the hardwood floors at some point, the kitchen and baths look dated (and not in a vintage way), and there's so much carpet.

I can't decide if the interior will be too off-putting or if someone will see its problems as easily fixable.

Over a month later, this is still sitting—without a price drop. I wonder if something is wrong with it other than the obvious.

I also find it kind of hilarious that the agent lists "approximately 20 minutes by car from Amazon's HQ2 complex" as a feature for a Capitol Hill rowhome.

The interior is incredibly off-putting (the 90s was not a good time for interior design), it's on a busy street, there's no parking, and sold "as is" is real estate talk for lots of expensive repairs await. For 1800 sq ft, this would get buyers at $800k. Not a million.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Thoughts on this one?

4BR/3BA, 1814sf, $990,000:
https://www.redfin.com/DC/Washington/403-6th-St-NE-20002/home/9899007

The location is great, but it's kind of an odd mix of original features and ill-chosen updates. I don't think I've seen a rowhouse that has both original unpainted woodwork still intact but also has that stupid oval door. It looks like they replaced the hardwood floors at some point, the kitchen and baths look dated (and not in a vintage way), and there's so much carpet.

I can't decide if the interior will be too off-putting or if someone will see its problems as easily fixable.

Over a month later, this is still sitting—without a price drop. I wonder if something is wrong with it other than the obvious.

I also find it kind of hilarious that the agent lists "approximately 20 minutes by car from Amazon's HQ2 complex" as a feature for a Capitol Hill rowhome.

The interior is incredibly off-putting (the 90s was not a good time for interior design), it's on a busy street, there's no parking, and sold "as is" is real estate talk for lots of expensive repairs await. For 1800 sq ft, this would get buyers at $800k. Not a million.

No argument here.

I'm surprised the owners haven't at least pulled all that carpet out. It's not that hard to do, and even floors that need refinishing are going to show better than that carpet.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Thoughts on this one?

4BR/3BA, 1814sf, $990,000:
https://www.redfin.com/DC/Washington/403-6th-St-NE-20002/home/9899007

The location is great, but it's kind of an odd mix of original features and ill-chosen updates. I don't think I've seen a rowhouse that has both original unpainted woodwork still intact but also has that stupid oval door. It looks like they replaced the hardwood floors at some point, the kitchen and baths look dated (and not in a vintage way), and there's so much carpet.

I can't decide if the interior will be too off-putting or if someone will see its problems as easily fixable.

Over a month later, this is still sitting—without a price drop. I wonder if something is wrong with it other than the obvious.

I also find it kind of hilarious that the agent lists "approximately 20 minutes by car from Amazon's HQ2 complex" as a feature for a Capitol Hill rowhome.

The interior is incredibly off-putting (the 90s was not a good time for interior design), it's on a busy street, there's no parking, and sold "as is" is real estate talk for lots of expensive repairs await. For 1800 sq ft, this would get buyers at $800k. Not a million.

No argument here.

I'm surprised the owners haven't at least pulled all that carpet out. It's not that hard to do, and even floors that need refinishing are going to show better than that carpet.

I live near here and there's no "For Sale" sign. I get they are offering showings by appointment, but I think a sign helps people know the house is for sale....

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Thoughts on this one?

4BR/3BA, 1814sf, $990,000:
https://www.redfin.com/DC/Washington/403-6th-St-NE-20002/home/9899007

The location is great, but it's kind of an odd mix of original features and ill-chosen updates. I don't think I've seen a rowhouse that has both original unpainted woodwork still intact but also has that stupid oval door. It looks like they replaced the hardwood floors at some point, the kitchen and baths look dated (and not in a vintage way), and there's so much carpet.

I can't decide if the interior will be too off-putting or if someone will see its problems as easily fixable.

Over a month later, this is still sitting—without a price drop. I wonder if something is wrong with it other than the obvious.

I also find it kind of hilarious that the agent lists "approximately 20 minutes by car from Amazon's HQ2 complex" as a feature for a Capitol Hill rowhome.

The interior is incredibly off-putting (the 90s was not a good time for interior design), it's on a busy street, there's no parking, and sold "as is" is real estate talk for lots of expensive repairs await. For 1800 sq ft, this would get buyers at $800k. Not a million.

I disagree. If there's a C of O for the basement, I don't know why this wouldn't go for near asking even with some cosmetic issues. There are a few blocks of the same house around and ones in good share with a basement apartment go for a whole lot more than $1 m right now.

[Anonymous]

Anonymous wrote:

Anonymous wrote:What does everyone think this will go for?

$995,000, 3BR/3.5BA, 2,024sf:
https://www.redfin.com/DC/Washington/620-G-St-NE-20002/home/21648640

I'm not a huge fan of the all-white open floor plan trend, but this isn't quite as flippery as many I've seen—the kitchen counters are dark, and there's still exposed brickwork. Otherwise, it seems pretty well done, and the finishes look nice, and I like the outdoor space. That location not far from Union Station is going to be a draw, too. On the downside, it's hard to tell but from the pictures one of the BRs looks pretty tiny and I'm not sure the other is actually legal (could that really be an egress window in picture 21?).

I suspect this is priced for a bidding war (and will get one).

Somewhere between $1.1m - $1.3m given it's over 2,000 square feet, has a basement and is so close to Union Station (and in true Capitol Hill). There are comparable homes on the Hill East side of the neighborhood going for $1.1m, so the location I would think would definitely put it over that threshold.

Good guess. It closed at $1.2M last week.

[Anonymous]

After a lull, there are a ton of new listings available to view this weekend. This isn't even all of them. With a few exceptions, it seems like listing prices are lower than they have been during the past year. I imagine some of these will be bid upwards quickly, while others will languish.

$899k - 3br/3ba - 2032 sq.ft: My pick for best value this week. The location is awkward in that weird triangular intersection across from Miner, but that's a lot of space for under a million.
https://www.redfin.com/DC/Washington/606-Tennessee-Ave-NE-20002/home/9915817

$889k - 2br/1.5ba - 1112 sq.ft: The listing is unreadable and the price may be too high for only two bedrooms, but the location is great for access to both Capitol Hill and Navy Yard, and there's covered parking.
https://www.redfin.com/DC/Washington/718-9th-St-SE-20003/home/9905669

$849k - 3br/2ba - 1260 sq.ft: In case you've always wanted Congressional Cemetery in your front yard. Fido would be thrilled.
https://www.redfin.com/DC/Washington/1629-E-St-SE-20003/home/9920775

$849k - 3br/1.5ba - 1584 sq.ft: I like the upstairs sunroom.
https://www.redfin.com/DC/Washington/1418-D-St-NE-20002/home/9916050

$830k - 2br/2ba - 1224 sq.ft: This is actually two 1br apartments. For the price, I'd skip being a landlord and keep both to myself.
https://www.redfin.com/DC/Washington/231-Warren-St-NE-20002/home/9913760

$825k - 3br/1.5ba - 1272 sq.ft: I actually like the aesthetics of this renovation, but the location right on Florida Ave could be a dealbreaker.
https://www.redfin.com/DC/Washington/1316-Florida-Ave-NE-20002/home/10305185

$825k - 2br/2ba - 1360 sq.ft: Some really nice outdoor spaces for a house this size.
https://www.redfin.com/DC/Washington/811-L-St-NE-20002/home/9902188

$819k - 2br/2.5ba - 1472 sq.ft: This one has been around for a couple of weeks, and I can't remember if we talked about it yet. Some eclectic design choices. May be too close to H for some people's comfort.
https://www.redfin.com/DC/Washington/710-13th-St-NE-20002/home/10177584

$799k - 2br/1.5ba - 1186 sq.ft: Another one that may have been discussed last week? I really love carriage houses.
https://www.redfin.com/DC/Washington/645-Constitution-Ave-NE-20002/home/9899648

$775k - 2br/2.5ba - 1060 sq.ft: This is pretty much the same size and layout of my house, so I am personally invested in seeing how this one goes.
https://www.redfin.com/DC/Washington/251-14th-Pl-NE-20002/home/9916562

$725k - 3br/1ba - 1504 sq.ft: Some interesting flooring choices and not a lot of curb appeal, but good price for the size and likely space to add another bathroom.
https://www.redfin.com/DC/Washington/1380-E-St-NE-20002/home/9912773

$665k - 2br/1ba - 968 sq.ft: This is a teardown. Priced for a developer to build two $1M+ condos, not for someone willing to put a few hundred grand into a gut reno to make a customized SFH.
https://www.redfin.com/DC/Washington/726-11th-St-NE-20002/home/9906056

$535k - 2br/1ba - 749 sq.ft: Could use some updates but a phenomenal price for a condo alternative on a minor block off H St.
https://www.redfin.com/DC/Washington/1208-1-2-Wylie-St-NE-20002/home/175700675

[Anonymous]

What am I missing? $865,000 seems wildly underpriced for three bedrooms.

https://www.redfin.com/DC/Washington/618-7th-St-NE-20002/home/9898581

[Anonymous]

Anonymous wrote:After a lull, there are a ton of new listings available to view this weekend. This isn't even all of them. With a few exceptions, it seems like listing prices are lower than they have been during the past year. I imagine some of these will be bid upwards quickly, while others will languish.

After a week, only FIVE of those 13 listings are pending. Market seems to be cooling fast.

[Anonymous]

Anonymous wrote:

Anonymous wrote:After a lull, there are a ton of new listings available to view this weekend. This isn't even all of them. With a few exceptions, it seems like listing prices are lower than they have been during the past year. I imagine some of these will be bid upwards quickly, while others will languish.

After a week, only FIVE of those 13 listings are pending. Market seems to be cooling fast.

Yeah, I do think that the market is looking slow just in the last few weeks, but I actually don't think it has anything to do with long run demand. People are extra motivated this summer to vacation, travel, visit with friends, etc., since they haven't been able to do many of those things in over a year. Shopping for a house and preparing to move don't exactly feel like an escape.

I wouldn't be surprised if the market in September/October looks nearly as heated as it did this spring. The underlying fundamentals haven't really changed much.

[Anonymous]

Anonymous wrote:What am I missing? $865,000 seems wildly underpriced for three bedrooms.

https://www.redfin.com/DC/Washington/618-7th-St-NE-20002/home/9898581

It seems tiny. 1575 sq ft over three feet is about 500 sq ft per floor, and the basement is its own unit.

[Anonymous]

The vast majority of these have been listed 8 days. I don't think the fact they are not pending yet says anything at all about the market.

[Anonymous]

Anonymous wrote:

Anonymous wrote:After a lull, there are a ton of new listings available to view this weekend. This isn't even all of them. With a few exceptions, it seems like listing prices are lower than they have been during the past year. I imagine some of these will be bid upwards quickly, while others will languish.

After a week, only FIVE of those 13 listings are pending. Market seems to be cooling fast.

I don't know if it's that the market is cooling, or just that this particular batch of listings is kind of...meh. Nothing in that list really jumped out at me as nice, or even all that interesting. But maybe I'm just burned out on looking at really expensive CH rowhomes.