New Listing on the hill —-good or bad

[Anonymous]

I run in that neighborhood and it's awesome. I'd love to live there but my range is more like $800k. Great house but the kitchen is horrendous, so you'd have to gut that. Other than that, it's pretty good.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Nice house, quiet block

You’re telling me it’s quiet at the intersection of 5 different streets??!

lol it’s like some of you have never walked around the Hill. It’s three streets (one with medians) not 5. 13th and Ky are quiet. Independence has traffic M-F evening rush hours. It is a very nice location.

[Anonymous]

Anonymous wrote:And I’m wondering if the lack of floor plan is because of the backyard - no mention of it or garage and the house is on a horrible corner with those poles for traffic calming so street parking is bad.

lol ok. This is a very common configuration for a house on the Hill and the traffic calming is a plus. The backyard is deep.

[Anonymous]

The home is still on market after the open house.
It’s not bad, but I anticipate this could be a busy spring season around DC and buyers are cautious.

[Anonymous]

Anonymous wrote:Anyone think this one will go for over asking?

It won’t. It would have been under contract already if that were the case.

[Anonymous]

I like it but I'd also want to put 200k+ into renovations so I like it a lot less around the 1.5 mark. We are looking in this general area and price range and so I suspect I am not alone in that sentiment.

[Anonymous]

Anonymous wrote:The home is still on market after the open house.
It’s not bad, but I anticipate this could be a busy spring season around DC and buyers are cautious.

Average time on the market is around 30 days on the Hill.

[Anonymous]

Anonymous wrote:I like it but I'd also want to put 200k+ into renovations so I like it a lot less around the 1.5 mark. We are looking in this general area and price range and so I suspect I am not alone in that sentiment.

It’s 1.2. And I don’t know what to tell you - the housing stock on the hill is old. If you want McMansion then this is not the place. The house is fine, save your $200k for the college fund!

[Anonymous]

Adding central a/c and updating the kitchen is not asking for a McMansion! It’s overpriced by about 100k.

[Anonymous]

Anonymous wrote:Adding central a/c and updating the kitchen is not asking for a McMansion! It’s overpriced by about 100k.

I agree it's overpriced a little. I would offer at 1.1 and see what happens. Could be room to negotiate with buyer incentives -- knowing you're going to renovate, sellers sometimes pony up for a small subsidy towards that which can take the edge off the high price. It's cheaper than the seller doing needed renovations like installing central air themselves, but can help buyers who will want to address an issue or two immediately but will be cash poor post-sale.

However one nice thing about the house is that the size makes these renovations very feasible. Lots of houses on the Hill where adding a master bath, renovating the kitchen, and adding central air would be a much bigger headache because the footprint is so small. The big bedrooms help a ton here because you have a lot more options with the upstairs configuration to add another bathroom without compromising livability of the bedrooms. I also happen to like the main floor layout because of the way it's segmented -- I don't like the houses that wind up just getting gutted into one big main floor room, this one is more elegant. A new kitchen will really make it sing.

I think it will go for more than 1.1 but depending on seller motivation, this might be an opportunity to get a bit of a deal given the work it needs. It's a "good bones" situation, though.

[Anonymous]

Anonymous wrote:Adding central a/c and updating the kitchen is not asking for a McMansion! It’s overpriced by about 100k.

Again - this is the Hill and that is a gorgeous house in a great location. You’re not likely to get turnkey anywhere and generally you are going to be better off if you do something like add central air yourself. That is actually underpriced for that size/configuration/location.

[Anonymous]

Listing says it’s been in the same family for five decades, and it shows. You can spot a different trend from each of those decades in just about every room, creating an unappealing clash of styles throughout the house. I don’t think this is a total gut job, and it’s perfectly livable as is, but I think the interior could be greatly improved, which will be costly.

I think they will struggle to get asking for this, and won’t get a penny more.

[Anonymous]

It’s contingent.

[Anonymous]

Anonymous wrote:It’s contingent.

lol. Totally overpriced and needs a gut reno! That is why it went under contract in (checks notes) 5 days.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It’s contingent.

lol. Totally overpriced and needs a gut reno! That is why it went under contract in (checks notes) 5 days.

It’s not under contract. Contingencies often don’t pan out.