Housing prices falling ? U ST NW house

[Anonymous]

Bought in 2022 for $200,000 over current price … listed for 1.9 mil in Dec 2024 now listed at 1.650 … what’s happening ? https://www.zillow.com/homedetails/1911-11th-St-NW-Washington-DC-20001/119083902_zpid/?utm_campaign=iosappmessage&utm_medium=referral&utm_source=txtshare

[Anonymous]

This is going to be happening more and more. For example, these people who bought in 2022 will be losing money after agent commissions:

https://www.redfin.com/VA/Arlington/4914-25th-Rd-N-22207/home/11227920

[Anonymous]

That is why they tell you don’t buy unless you are staying in the house for at least 5 -7 years.

[Anonymous]

I already see a lot of houses like this in our neighborhood. Lower NW

Anonymous wrote:This is going to be happening more and more. For example, these people who bought in 2022 will be losing money after agent commissions:

https://www.redfin.com/VA/Arlington/4914-25th-Rd-N-22207/home/11227920

[Anonymous]

Anonymous wrote:Bought in 2022 for $200,000 over current price … listed for 1.9 mil in Dec 2024 now listed at 1.650 … what’s happening ? https://www.zillow.com/homedetails/1911-11th-St-NW-Washington-DC-20001/119083902_zpid/?utm_campaign=iosappmessage&utm_medium=referral&utm_source=txtshare

Maybe it's because half a block south of U Street would not be a fun place to live on Friday and Saturday nights?

[Anonymous]

Anonymous wrote:Bought in 2022 for $200,000 over current price … listed for 1.9 mil in Dec 2024 now listed at 1.650 … what’s happening ? https://www.zillow.com/homedetails/1911-11th-St-NW-Washington-DC-20001/119083902_zpid/?utm_campaign=iosappmessage&utm_medium=referral&utm_source=txtshare

For $1.65 million at 7% interest rates I would want a legitimate living room, which this house is missing.

I also think this price point and size is going to attract families with at least one child, and when a family has that budget U Street would be very low on their list of target DC neighborhoods.

[Anonymous]

Nadeau completely ignored crime for years and essentially told people they're racists if they have a problem with it.

Then crime there spiked even more during the pandemic and never went back to where it was before. It's tough to get a police report unless it's severe violence so the "reported crime" isn't accurate and the residents know it.

It makes me so sad because I used to live there. It was a wonderful, vibrant community until Nadeau ruined it.

[Anonymous]

In our NW neighborhood we would see 2-3 sales a year. Now there are 2-3 houses on each block for sale and they are not selling.

We are heading for a big recession and stock market crash. Trump is remaking 75% of the US economy by dictate of the federal government.

It is going to be a very tough time. 80% of the jobs in the US are white or service jobs and 10% are manufacturing. Trump and republicans want to reverse those numbers.

[Anonymous]

Anonymous wrote:Nadeau completely ignored crime for years and essentially told people they're racists if they have a problem with it.

Then crime there spiked even more during the pandemic and never went back to where it was before. It's tough to get a police report unless it's severe violence so the "reported crime" isn't accurate and the residents know it.

It makes me so sad because I used to live there. It was a wonderful, vibrant community until Nadeau ruined it.

No. This all started when Trump took over. This is on you. Hope you suffer like everyone.

[Anonymous]

Anonymous wrote:In our NW neighborhood we would see 2-3 sales a year. Now there are 2-3 houses on each block for sale and they are not selling.

We are heading for a big recession and stock market crash. Trump is remaking 75% of the US economy by dictate of the federal government.

It is going to be a very tough time. 80% of the jobs in the US are white or service jobs and 10% are manufacturing. Trump and republicans want to reverse those numbers.

What neighborhood? Not the experience at all in CCDC.

[Anonymous]

Probably a sub-standard or illegal reno.

If you're buying a recently reno'd place, have it inspected VERY closely, so much shoddy work, it's insane.

I'd either buy a house that needs the reno and do it myself, or buy a house that has had a reno 5+ years ago, and has had a single consistent owner... and then I'd still have it inspected.

My guess is there is some insane problem showing up in the inspections.

[Anonymous]

U St and Columbia Heights peaked in the early 2010s and have been going downhill ever since. Too many weed stores on U St and way more crimey than it was in 2008-2014.

[Anonymous]

I loved this area in the aughts, but it is no longer as hot as it used to be - the kids are now out in Navy Yard, etc. The crime is also worse than it was in 2022, and way worse than it was from about 2010-2020.

[Anonymous]

Why is there only a floorplan of the lower level and not actual photos?

And who do they envision as a potential buyer of this place? Probably not families (the two non-primary bedrooms upstairs are tiny and neither appears to feature even one closet, which is bizarre). Most people who would relish being so close to U Street probably are too young to afford a place like this. And DINKs who could afford it probably wouldn't want to be so close to the weekend chaos on U Street.

[Anonymous]

Anonymous wrote:That is why they tell you don’t buy unless you are staying in the house for at least 5 -7 years.

I think this adage is obsolete. Don’t buy unless you can stay forever is a much more sound approach.