Is this house worth $1.25m?

[Anonymous]

Woah, they seriously like yellow. They should also knock at least $100K off for that wallpaper in the dining room. Otherwise, beautiful.

[Anonymous]

Anonymous wrote:

It sold in '07 for $1m. House prices certainly haven't going up from then to now.

Actually, within in a handful of NW DC zip codes, they have been going up slightly. Where are you writing in from today?

+1. In a number of places in NW, the bubble never popped: in those neighborhoods, the bubble is still inflating, just slower than it was before.

[Anonymous]

I agree that if it hasn't sold in 408 days at that price, it's not going to. And even if it had just been listed, I would say that no, it's not worth $1.25m, more like $1m. Sure, you can change the window treatments and make other cosmetic updates, but you can't do anything about the floorplan. With one bedroom on the bottom level, the living level on the second, and the other two bedrooms on the top, this would be a turnoff for a lot of people.

[Anonymous]

Not surprised it's been on the market so long at that price. It's across from an ugly apartment building and on a block of unimaginative 1960s townhouses. Drop the price to $1,025,000 or so, and the short walking distance to Wisconsin Avenue and the cathedral/schools might do the trick.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

It sold in '07 for $1m. House prices certainly haven't going up from then to now.

Actually, within in a handful of NW DC zip codes, they have been going up slightly. Where are you writing in from today?

+1. In a number of places in NW, the bubble never popped: in those neighborhoods, the bubble is still inflating, just slower than it was before.

Not if the house was overpriced when it sold in 2007. Regardless, it's irrelevant what you believe the market has done - THIS house hasn't gone up 20% in value in 4 years. It's been on the market for 408 days - nearly 14 months. Res ipsa loquitor. One of two things is going on - they have to get that much to break even (or pull out whatever amount they've determined they have to pull out), or they're not really interested in selling. Maybe both. But here's a question - suppose you had a penchant for granny decorating styles, a pseudo-farmhouse kitchen (that is both ugly and small), yellow, truly hideous wallpaper, and lots and lots of mirrors - what would you offer for this place today? I'd likely start at less than $1 million.

[Anonymous]

Meh. It's hard to get excited about a home built in '68 with a low walk score and blindingly chintzy decor. My eyes are bleeding! You could renovate, but you'd still be stuck with a 1960s suburban-style home across from buildings that cater to AU students.

[Anonymous]

I like the exterior and the weird master bath, but it look like my Dad's stepmother decorated it (she is 95).

[Anonymous]

This is a great house / location for an empty-nester AU professor. Just sayin'

[Anonymous]

Anonymous wrote:This is a great house / location for an empty-nester AU professor. Just sayin'

How many professors can afford to pay $1.25 million? Very, very, very few.

[Anonymous]

$70,000 for the kitchen renovation? Really?