Housing prices falling ? U ST NW house

[Anonymous]

Anonymous wrote:

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I think this adage is obsolete.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.

I just mean that when you see a place on Zillow that looks like a stunning Reno but it’s been turned over more than once in the last 2-3 years there’s probably something shitty hiding under the floor or in the walls.

There are a lot of Reno’d condos that seem to be constantly flipping and it’s people rushing to buy a slick place in a nice neighborhood and then discovering that the shower drains into a plastic bag between the joists or something.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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I think this adage is obsolete.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.

I just mean that when you see a place on Zillow that looks like a stunning Reno but it’s been turned over more than once in the last 2-3 years there’s probably something shitty hiding under the floor or in the walls.

There are a lot of Reno’d condos that seem to be constantly flipping and it’s people rushing to buy a slick place in a nice neighborhood and then discovering that the shower drains into a plastic bag between the joists or something.

I am doing renovations in MD and the city inspectors for plumbing, electrical and framing are really strict.

[Anonymous]

Anonymous wrote:

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.

So, anyone who doesn't like crime is automatically a Trumper? This is why the Republicans are in control.

[Anonymous]

I think the issue is they listed this house for 2.2 million in October, 2024, they have made 4-5 price changes (decrease) since then, a property like this always loses interest. Sellers were too greedy and then Trump lit the match and set the economy on fire.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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.

So, anyone who doesn't like crime is automatically a Trumper? This is why the Republicans are in control.

And this is why crime is higher on their watch.

[Anonymous]

Anonymous wrote:I think the issue is they listed this house for 2.2 million in October, 2024, they have made 4-5 price changes (decrease) since then, a property like this always loses interest.

Wow, I can’t think of another time I’ve ever see a house around here list at $2.25 million and gradually see price cuts down to $1.65 million (and still continue sitting).

[Anonymous]

What the heck is up with the listing description? I really dislike the over the top superlatives.

“The Extraordinary Chef's Kitchen is beyond duplication. Enjoy State of the Art Appliances and Great work space to create Magnificent cuisine. The Primary Bedroom was definitely not an after thought. It was a Focus!”

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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.

So, anyone who doesn't like crime is automatically a Trumper? This is why the Republicans are in control.

+1 Anyone who lived in the U ST area at the time knows that crime has been a looming problem since way before Trump.

[Anonymous]

My 23 year old daughter is moving to DC in a rental. For a kid this is good news. I keep seeing basic studios and one bedrooms in older buildings prices falling. At this rate by 25 she could buy a place.

[Anonymous]

This property seemed to sell quickly. https://www.zillow.com/homedetails/1217-S-St-NW-Washington-DC-20009/406528_zpid/

[Anonymous]

Anonymous wrote:This property seemed to sell quickly. https://www.zillow.com/homedetails/1217-S-St-NW-Washington-DC-20009/406528_zpid/

I used to live in this neighborhood and S and T streets are much quieter and more desirable than 11th street. I had friends on 11th and it was really loud. Living over there really peaked in early 2010s.

[Anonymous]

Crime
Schools
Interstate rates

[Anonymous]

Anonymous wrote:This property seemed to sell quickly. https://www.zillow.com/homedetails/1217-S-St-NW-Washington-DC-20009/406528_zpid/

This property is in a better location + it’s way nicer.

[Anonymous]

What do you mean what is happening?
Economics indicators show we are headed to a depression.

The "Philip economic indicator" refers to the Phillips Curve, a macroeconomic theory that suggests an inverse relationship between unemployment and inflation. In short, lower unemployment is generally associated with higher inflation, and vice versa.

We are all screwed.

[Anonymous]

Anonymous wrote:What do you mean what is happening?
Economics indicators show we are headed to a depression.

The "Philip economic indicator" refers to the Phillips Curve, a macroeconomic theory that suggests an inverse relationship between unemployment and inflation. In short, lower unemployment is generally associated with higher inflation, and vice versa.

We are all screwed.

I’m no fan of what’s going on, but I wouldn’t use this house as a representative example of the entire market. Right now you are not seeing other homes with $500k+ price cuts. This one is a weird combo of factors that makes it unappealing to buyers at this price point.