Sold $350K over ask in Maywood…?

[Anonymous]

This is a head scratcher. Sold for $350K over ask ($1.9M) on a 5500 square foot lot (small lot even for N Arlington). “Only” 2200 square feet living space.

What’s the story?? Was the someone’s childhood home and they had to have it again / buy it back?? Empty nesters with their kids and grandkids next door? Make it make sense!

https://redf.in/UADiOd

[Anonymous]

It's bigger than 2200 square feet. It has a three level addition and including the basement it is 4000 square feet.

[Anonymous]

You right, it makes no sense. It's tiny with not much curb appeal. At least not for a 2M home. It’s so frustrating.

[Anonymous]

There are some people who have so much money, they are price indifferent. They just buy what they want.

[Anonymous]

It sold for $1.225 in 2018, so approximately a 50% increase which is typical for a SFH in Bethesda or Arlington.

[Anonymous]

The "ask" price here was fake because it was an off-market sale. Maybe the agent did that so they could brag in their postcards that they sold a house for X% over the asking price, but it was never a real price.

[Anonymous]

Anonymous wrote:It's bigger than 2200 square feet. It has a three level addition and including the basement it is 4000 square feet.

Where did you see this? Are you the agent?

[Anonymous]

Anonymous wrote:

Anonymous wrote:It's bigger than 2200 square feet. It has a three level addition and including the basement it is 4000 square feet.

Where did you see this? Are you the agent?

If you go to the sale history on Redfin, you can see the photos and floor plan from the 2018 sale.

[Anonymous]

That price does not seem off to me, it seems about right -- just under 2M for that area.

[Anonymous]

It's cute

[Anonymous]

I can't wait for the real estate fall out in this area -- it's going to be glorious. I accept i'm the only one on this site that thinks it's coming though.

[Anonymous]

Anonymous wrote:That price does not seem off to me, it seems about right -- just under 2M for that area.

If it’s 4000 square feet as another PP mentioned then $2M sounds right (still maybe a tad high given the lot size?)

[Anonymous]

Anonymous wrote:I can't wait for the real estate fall out in this area -- it's going to be glorious. I accept i'm the only one on this site that thinks it's coming though.

It’s coming - but in 2050 when the population cliff arrives and there’s no high skill high wage immigration wave to save us. That’s when supply will skyrocket and prices will finally come down to earth.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I can't wait for the real estate fall out in this area -- it's going to be glorious. I accept i'm the only one on this site that thinks it's coming though.

It’s coming - but in 2050 when the population cliff arrives and there’s no high skill high wage immigration wave to save us. That’s when supply will skyrocket and prices will finally come down to earth.

I think AI has over promised but I do think it will eliminate lots of white collar jobs and cause people to move to cheaper areas. So I don’t think anyone can rely on real estate to be an appreciating asset.

[Anonymous]

I love Maywood. I think it’s my favorite Arlington neighborhood. So cozy and tucked away.