Are these H St. NE / Capitol Hill houses priced appropriately?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The layout of the F street house is really pretty bad.

Though this place with a similarly bad stair placement and an unfinished basement had no problems moving.

https://www.redfin.com/DC/Washington/435-5th-St-NE-20002/home/9896939

That place is adorable but it’s a condo. There’s no way a house in that location/condition would sell under a million.

NP but 435 5th is a house, not a condo. Got a basement and a yard and everything!

PP: Yeah I went to the open house. Def a house with a basement and a yard. I also toured the F street house.

Will be interested to see what it ends up selling for, and what F street gets when it eventually sells.

[Anonymous]

Anonymous wrote:

Anonymous wrote:New listing right by Eastern Market. I'm guessing it won't last long, but it seems on the high end of its price range.

https://www.redfin.com/DC/Washington/108-7th-St-SE-20003/home/9901753

It’s a nice tree lined street of charming homes, it’s not going to stay on market for long.

This one is still sitting. One price drop already. Anyone see it?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:New listing right by Eastern Market. I'm guessing it won't last long, but it seems on the high end of its price range.

https://www.redfin.com/DC/Washington/108-7th-St-SE-20003/home/9901753

It’s a nice tree lined street of charming homes, it’s not going to stay on market for long.

This one is still sitting. One price drop already. Anyone see it?

I haven't seen it, but it's going to need more than a $25k price cut, IMO. $1.45M for 3BR and 1826 sf? I don't care how close it is to Eastern Market (and it is close without being too close, IMO), that's too much money for the size. The layout and finishes are very flippy (mostly from a 2014 flip), the bedrooms look tiny, it claims to have 180 finished sf in the basement but there are no pictures, and the back patio is small. And I kind of hate that they painted the interior brick white (see the 2014 photos on Redfin). You can get a lot better than this in Capitol Hill for $1.5M, especially now.

I think the sellers got greedy and missed their hot market window, personally.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:New listing right by Eastern Market. I'm guessing it won't last long, but it seems on the high end of its price range.

https://www.redfin.com/DC/Washington/108-7th-St-SE-20003/home/9901753

It’s a nice tree lined street of charming homes, it’s not going to stay on market for long.

This one is still sitting. One price drop already. Anyone see it?

I haven't seen it, but it's going to need more than a $25k price cut, IMO. $1.45M for 3BR and 1826 sf? I don't care how close it is to Eastern Market (and it is close without being too close, IMO), that's too much money for the size. The layout and finishes are very flippy (mostly from a 2014 flip), the bedrooms look tiny, it claims to have 180 finished sf in the basement but there are no pictures, and the back patio is small. And I kind of hate that they painted the interior brick white (see the 2014 photos on Redfin). You can get a lot better than this in Capitol Hill for $1.5M, especially now.

I think the sellers got greedy and missed their hot market window, personally.

Totally agree with this assessment. I am especially bothered by the white brick when I look at photos of the main floor. Due to window placement and house position, it gets very limited natural light. Natural brick would counteract this issue by warming up that space and making it feel cozy, if not bright. Painting it all white just means there are more white surfaces for the indoor lighting to bounce off of, giving it a cold, antiseptic feel. Combined with what I agree are "flippy" finishes, like the transitional flooring from living area to kitchen, mismatch of styles between kitchen, bath, and trim finishes, and little to no work done to upgrade outdoor spaces (look at the bedroom with the door that opens onto... the porch roof with no railing or surface flooring), I really can't figure out what they were thinking with the pricing. A lot of people want to live close to Eastern Market and many of them even have that kind of money to burn, but they are not hugely interested in what is essentially a high-end fixer upper, and definitely not at that price.

I think the proper price is probably closer to $1m in this market (still high, but that location is really, really good). What will be interesting is to see if they manage to sell it for 1.2 or even 1.3 simply because inventory remains frustratingly low on the Hill, OR if rising rates actually finally put a damper on this market and they wind up having to do a mega-price drop, accept a low-ball, or delist and come back on the market at a more appropriate price.

[Anonymous]

Anonymous wrote:I think the proper price is probably closer to $1m in this market (still high, but that location is really, really good). What will be interesting is to see if they manage to sell it for 1.2 or even 1.3 simply because inventory remains frustratingly low on the Hill, OR if rising rates actually finally put a damper on this market and they wind up having to do a mega-price drop, accept a low-ball, or delist and come back on the market at a more appropriate price.

The sellers paid more than $1M when they bought it in 2014 (which seems insane to me for 2014), so I doubt they'll let it go for that. $1.2–$1.3M still seems way overpriced to me, but at least that would bring it more in line on a $/sf basis with 908 S. Carolina SE (also discussed in this thread), which has a much nicer interior. The fact that 108 7th is more expensive on a $/sf basis than 908 S. Carolina is just nuts, looking at the two houses (although that may change after we see what 908 S. Carolina goes for—that's a gorgeous house, IMO).

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:New listing right by Eastern Market. I'm guessing it won't last long, but it seems on the high end of its price range.

https://www.redfin.com/DC/Washington/108-7th-St-SE-20003/home/9901753

It’s a nice tree lined street of charming homes, it’s not going to stay on market for long.

This one is still sitting. One price drop already. Anyone see it?

I haven't seen it, but it's going to need more than a $25k price cut, IMO. $1.45M for 3BR and 1826 sf? I don't care how close it is to Eastern Market (and it is close without being too close, IMO), that's too much money for the size. The layout and finishes are very flippy (mostly from a 2014 flip), the bedrooms look tiny, it claims to have 180 finished sf in the basement but there are no pictures, and the back patio is small. And I kind of hate that they painted the interior brick white (see the 2014 photos on Redfin). You can get a lot better than this in Capitol Hill for $1.5M, especially now.

I think the sellers got greedy and missed their hot market window, personally.

Totally agree that its overpriced, but I really wish I could agree with the bolded part of your statement. There's no inventory right now!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Not sure what the realtor is thinking with all the photos of moving boxes and messy rooms, but here's an unrenovated, tenant-occupied 4/3.5 on G between 6th and 7th.

https://www.redfin.com/DC/Washington/622-G-St-NE-20002/home/9898467

$1.35 for 3/2.5 pretty close to Union Station on F Street, with English basement apt. that has a C of O.

https://www.redfin.com/DC/Washington/226-F-St-NE-20002/home/9891037

622 G finally sold for $925k—$125k below list. 226 F is still on the market.

It does seem like the Capitol Hill market has softened quite a bit over the past month. For a while there, it seemed like you couldn't get anything over 2,000 sf for under $1.1M. But now there are houses sitting at that size & price. I think we've discussed these before, for example:

3BR/2.5BA, 2166 sf, $1.1M (listed 5/13):
https://www.redfin.com/DC/Washington/403-11th-St-NE-20002/home/9908314

2BR/2BA, 2516 sf, $950k (listed 5/3):
https://www.redfin.com/DC/Washington/1018-F-St-NE-20002/home/9906175

The F Street house was discussed above. It's been on and off the market for a while now at somewhat wildly fluctuating prices. Think the knock on it is its peculiar layout.

But yeah, Hill houses that have issues are starting to sit/see price cuts.

Speaking of F st, we now have three different houses on F st listed

2BR/2BA, 2516 sf, $950k (listed 5/3):
https://www.redfin.com/DC/Washington/1018-F-St-NE-20002/home/9906175


3BR/2.5BA, 2,168 sf, $1.3 (listed 5/13):
https://www.redfin.com/DC/Washington/226-F-St-NE-20002/home/9891037


4BR/3.5BA, 2,412 Sq $1.3 (listed 6/16):
https://www.redfin.com/DC/Washington/209-F-St-NE-20002/home/9891133

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Not sure what the realtor is thinking with all the photos of moving boxes and messy rooms, but here's an unrenovated, tenant-occupied 4/3.5 on G between 6th and 7th.

https://www.redfin.com/DC/Washington/622-G-St-NE-20002/home/9898467

$1.35 for 3/2.5 pretty close to Union Station on F Street, with English basement apt. that has a C of O.

https://www.redfin.com/DC/Washington/226-F-St-NE-20002/home/9891037

622 G finally sold for $925k—$125k below list. 226 F is still on the market.

It does seem like the Capitol Hill market has softened quite a bit over the past month. For a while there, it seemed like you couldn't get anything over 2,000 sf for under $1.1M. But now there are houses sitting at that size & price. I think we've discussed these before, for example:

3BR/2.5BA, 2166 sf, $1.1M (listed 5/13):
https://www.redfin.com/DC/Washington/403-11th-St-NE-20002/home/9908314

2BR/2BA, 2516 sf, $950k (listed 5/3):
https://www.redfin.com/DC/Washington/1018-F-St-NE-20002/home/9906175

The F Street house was discussed above. It's been on and off the market for a while now at somewhat wildly fluctuating prices. Think the knock on it is its peculiar layout.

But yeah, Hill houses that have issues are starting to sit/see price cuts.

Speaking of F st, we now have three different houses on F st listed

2BR/2BA, 2516 sf, $950k (listed 5/3):
https://www.redfin.com/DC/Washington/1018-F-St-NE-20002/home/9906175


3BR/2.5BA, 2,168 sf, $1.3 (listed 5/13):
https://www.redfin.com/DC/Washington/226-F-St-NE-20002/home/9891037


4BR/3.5BA, 2,412 Sq $1.3 (listed 6/16):
https://www.redfin.com/DC/Washington/209-F-St-NE-20002/home/9891133

226 F has been on the market for more than a month, even after a fairly big price cut. That last one is new. I want to say it's only fairly priced if the basement can be legally rented out, but I'm not sure it can be (I don't see any rear egress). Plus, most places with C of Os for their basements usually say so in the listing.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Not sure what the realtor is thinking with all the photos of moving boxes and messy rooms, but here's an unrenovated, tenant-occupied 4/3.5 on G between 6th and 7th.

https://www.redfin.com/DC/Washington/622-G-St-NE-20002/home/9898467

$1.35 for 3/2.5 pretty close to Union Station on F Street, with English basement apt. that has a C of O.

https://www.redfin.com/DC/Washington/226-F-St-NE-20002/home/9891037

622 G finally sold for $925k—$125k below list. 226 F is still on the market.

It does seem like the Capitol Hill market has softened quite a bit over the past month. For a while there, it seemed like you couldn't get anything over 2,000 sf for under $1.1M. But now there are houses sitting at that size & price. I think we've discussed these before, for example:

3BR/2.5BA, 2166 sf, $1.1M (listed 5/13):
https://www.redfin.com/DC/Washington/403-11th-St-NE-20002/home/9908314

2BR/2BA, 2516 sf, $950k (listed 5/3):
https://www.redfin.com/DC/Washington/1018-F-St-NE-20002/home/9906175

The F Street house was discussed above. It's been on and off the market for a while now at somewhat wildly fluctuating prices. Think the knock on it is its peculiar layout.

But yeah, Hill houses that have issues are starting to sit/see price cuts.

Speaking of F st, we now have three different houses on F st listed

2BR/2BA, 2516 sf, $950k (listed 5/3):
https://www.redfin.com/DC/Washington/1018-F-St-NE-20002/home/9906175


3BR/2.5BA, 2,168 sf, $1.3 (listed 5/13):
https://www.redfin.com/DC/Washington/226-F-St-NE-20002/home/9891037


4BR/3.5BA, 2,412 Sq $1.3 (listed 6/16):
https://www.redfin.com/DC/Washington/209-F-St-NE-20002/home/9891133

226 F has been on the market for more than a month, even after a fairly big price cut. That last one is new. I want to say it's only fairly priced if the basement can be legally rented out, but I'm not sure it can be (I don't see any rear egress). Plus, most places with C of Os for their basements usually say so in the listing.

209 claims to have a C of O in the listing.... though the egress situation is unclear as you say. 226 also claims to have a C of O, despite the weirdness of the closet and windows in the basement.

[Anonymous]

Teeny-tiny 2br/1.5ba for $850k at 8th and Maryland. This might be the most cramped non-apartment kitchen I've ever seen.

https://www.redfin.com/DC/Washington/404-8th-St-NE-20002/home/11747066

We lived in a 2br/1.5ba about a block from there and it was mansion-sized compared to this one.

[Anonymous]

Pretty much every house listed over the past 2-3 pages of this thread is sitting. I realize it's a slow time home-buying but some of these sellers need to reevaluate the situation.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:New listing right by Eastern Market. I'm guessing it won't last long, but it seems on the high end of its price range.

https://www.redfin.com/DC/Washington/108-7th-St-SE-20003/home/9901753

It’s a nice tree lined street of charming homes, it’s not going to stay on market for long.

This one is still sitting. One price drop already. Anyone see it?

Now off the market.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:New listing right by Eastern Market. I'm guessing it won't last long, but it seems on the high end of its price range.

https://www.redfin.com/DC/Washington/108-7th-St-SE-20003/home/9901753

It’s a nice tree lined street of charming homes, it’s not going to stay on market for long.

This one is still sitting. One price drop already. Anyone see it?

Now off the market.

That's a shame. Its a nice house.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:$985k for a 2/2 at 10th and F. Dated but seemingly usable kitchen, kind of a weird first-floor layout, no first-floor bathroom/powder room (second full bathroom is in the basement family room), some outdoor space.

https://www.redfin.com/DC/Washington/1018-F-St-NE-20002/home/9906175

I dunno, this seems like it's a bit high for only two bedrooms and the aforementioned quibbles. Been on the market for 8 days now.

This got a price cut before it was taken off the market.

Seems like the houses with issues are sitting longer these days, which isn't super surprising.

It's now back on the market at $950k, which I believe is more than it was when they took it off the market.

Yup. It was listed at $940k before (after a price drop from $985k when it first listed on May 4). Maybe they think the problem isn't the price, but they needed new staging and new pictures (and maybe a new agent)? I dunno.

I can sort understand the sellers' thinking, though. Even with the weird decor and cheap-looking kitchen, over 2,500 sf for under $1M seems like a bargain in this market—unless "this market" has changed more than I thought in the last month. Or maybe there's something else really wrong with it that's not in the photos.

Now down to $925.

[Anonymous]

https://www.realtor.com/realestateandhomes-detail/1211-C-St-SE_Washington_DC_20003_M63372-55642

Is this correctly priced? Its only been on market for 4 days and they've said they won't accept any offers after tomorrow.