Sold Pre-Market WTF

[Anonymous]

Anonymous wrote:what about this looks even better

https://www.redfin.com/VA/Arlington/2449-N-Lexington-St-22207/home/11228204

It's a pretty house, but it's right next to some sketchy commercial real estate that fronts to Lee highway.

[Anonymous]

Anonymous wrote:

Anonymous wrote:what about this looks even better

https://www.redfin.com/VA/Arlington/2449-N-Lexington-St-22207/home/11228204

It's a pretty house, but it's right next to some sketchy commercial real estate that fronts to Lee highway.

It's actually right behind the new 7-11. When the house came on the market the first time in 2017, it was behind a run-down and soon-to-be-abandoned auto body shop that's now been torn down and completely rebuilt (whether you want to live next door to a 7-11 is a different story).

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:what about this looks even better

https://www.redfin.com/VA/Arlington/2449-N-Lexington-St-22207/home/11228204

It's a pretty house, but it's right next to some sketchy commercial real estate that fronts to Lee highway.

It's actually right behind the new 7-11. When the house came on the market the first time in 2017, it was behind a run-down and soon-to-be-abandoned auto body shop that's now been torn down and completely rebuilt (whether you want to live next door to a 7-11 is a different story).

Living next to a 7-11 is less than ideal. Living BEHIND the 7-11 (dumpster, delivery trucks) sounds awful.

So this was a new build in bought in 2017, why are they selling for essentially a loss just over a year later?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:what about this looks even better

https://www.redfin.com/VA/Arlington/2449-N-Lexington-St-22207/home/11228204

It's a pretty house, but it's right next to some sketchy commercial real estate that fronts to Lee highway.

It's actually right behind the new 7-11. When the house came on the market the first time in 2017, it was behind a run-down and soon-to-be-abandoned auto body shop that's now been torn down and completely rebuilt (whether you want to live next door to a 7-11 is a different story).

Depends...
If they permanently bring back Blackcherry Canada Dry Ginger Ale Slurpees?
Sure!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:what about this looks even better

https://www.redfin.com/VA/Arlington/2449-N-Lexington-St-22207/home/11228204

It's a pretty house, but it's right next to some sketchy commercial real estate that fronts to Lee highway.

It's actually right behind the new 7-11. When the house came on the market the first time in 2017, it was behind a run-down and soon-to-be-abandoned auto body shop that's now been torn down and completely rebuilt (whether you want to live next door to a 7-11 is a different story).

Living next to a 7-11 is less than ideal. Living BEHIND the 7-11 (dumpster, delivery trucks) sounds awful.

So this was a new build in bought in 2017, why are they selling for essentially a loss just over a year later?

Yep, the location was not good either way, but at least the auto body shop didn’t have long hours, lots of traffic and food waste that draws rats.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:what about this looks even better

https://www.redfin.com/VA/Arlington/2449-N-Lexington-St-22207/home/11228204

It's a pretty house, but it's right next to some sketchy commercial real estate that fronts to Lee highway.

It's actually right behind the new 7-11. When the house came on the market the first time in 2017, it was behind a run-down and soon-to-be-abandoned auto body shop that's now been torn down and completely rebuilt (whether you want to live next door to a 7-11 is a different story).

Living next to a 7-11 is less than ideal. Living BEHIND the 7-11 (dumpster, delivery trucks) sounds awful.

So this was a new build in bought in 2017, why are they selling for essentially a loss just over a year later?

Yep, the location was not good either way, but at least the auto body shop didn’t have long hours, lots of traffic and food waste that draws rats.

Well the toxic chemicals from an auto body shop would be major drawback, but food waste and rats may trump it!

How did the EverGreen company ever feel this was a good spec home?

[Anonymous]

I would eat District Taco every. single. day.

[Anonymous]

I actually think some of these pre market sales run afoul of fair housing rules. I know some sellers do it to control who they sell their homes to.

[Anonymous]

Anonymous wrote:I actually think some of these pre market sales run afoul of fair housing rules. I know some sellers do it to control who they sell their homes to.

Off market or ore market sales are done to get a high price for the seller with the minimal prep work, and to get the buyers a lock without a bidding war.

[Anonymous]

Anonymous wrote:I actually think some of these pre market sales run afoul of fair housing rules. I know some sellers do it to control who they sell their homes to.

Uh. No.

[Anonymous]

I don't know about Arlington, but we're trying to buy a house in Capitol Hill at the moment and our agent has already clued us in to 3 different pre-market flash sales. Two were done by the same group; it seems to be their MO. We had no idea these things existed when we bought our current house 7 years ago w/ Redfin.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I actually think some of these pre market sales run afoul of fair housing rules. I know some sellers do it to control who they sell their homes to.

Off market or ore market sales are done to get a high price for the seller with the minimal prep work, and to get the buyers a lock without a bidding war.

Seems like sellers would be leaving a lot on the table by not letting market weigh on.

[Anonymous]

Anonymous wrote:So this house would have been right up our alley, we would have paid $1.5M easily.

https://www.redfin.com/VA/Arlington/2403-N-Utah-St-22207/home/11279093?utm_source=ios_share&utm_medium=share&utm_campaign=copy_link&utm_nooverride=1&utm_content=link

So it sold pre-market, listing agent and buyers agent are different brokerages — how do we get our buyers agent who can work this pre-market magic?

Also, wasn’t there a coming soon on utah st like 2 weeks ago? I heard about it but didn’t see when I drove thru and not listed yet.

There's been a coming soon at 2003 N. Utah for a couple of weeks. Not a new build though - a cape with an addition. I would guess it will go on the marker for $900,000+.

This "coming soon" thing seems to be more and more common - I mentioned it last week. Three houses in our neighborhood have had coming soon signs for about 2 weeks, went on the market for a day or two, and then were pending.

[Anonymous]

Anonymous wrote:

Anonymous wrote:So this house would have been right up our alley, we would have paid $1.5M easily.

https://www.redfin.com/VA/Arlington/2403-N-Utah-St-22207/home/11279093?utm_source=ios_share&utm_medium=share&utm_campaign=copy_link&utm_nooverride=1&utm_content=link

So it sold pre-market, listing agent and buyers agent are different brokerages — how do we get our buyers agent who can work this pre-market magic?

Also, wasn’t there a coming soon on utah st like 2 weeks ago? I heard about it but didn’t see when I drove thru and not listed yet.

There's been a coming soon at 2003 N. Utah for a couple of weeks. Not a new build though - a cape with an addition. I would guess it will go on the marker for $900,000+.

This "coming soon" thing seems to be more and more common - I mentioned it last week. Three houses in our neighborhood have had coming soon signs for about 2 weeks, went on the market for a day or two, and then were pending.

No, it was a newer house with 4 bedrooms upstairs. Not new build but updated.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I actually think some of these pre market sales run afoul of fair housing rules. I know some sellers do it to control who they sell their homes to.

Off market or ore market sales are done to get a high price for the seller with the minimal prep work, and to get the buyers a lock without a bidding war.

Seems like sellers would be leaving a lot on the table by not letting market weigh on.

There is a chance, but if you know the market well and you get your target amount then it saves a bunch of hassle.