Are these H St. NE / Capitol Hill houses priced appropriately?
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Anonymous
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This one is already contingent.
https://www.realtor.com/realestateandhomes-detail/624-C-St-NE_Washington_DC_20002_M56813-00522?ex=2947123278 |
Anonymous
$1.4, wow! To me that seems a bit steep. What am I missing? |
Anonymous
| It was sold for $1,325,000 in 2021 so pretty consistent. |
Anonymous
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I would not say that most of the Cap Hill row home market has appreciated by ~7% in the last eight months. It'll be interesting to see what this closes for.
Very surprised that 108 7th St SE is still on the market for 83 days and $225k in price cuts! https://www.redfin.com/DC/Washington/108-7th-St-SE-20003/home/9901753 |
Anonymous
I don't know. It's got character, I'll give it that—but $1.4M seems like too much for 1850sf ion Capitol Hill, IMO. I wonder if that square footage includes the detached "guest bedroom." And yes, it sold for $1.325M in Dec. 2021, but 30-year mortgages were about at about 3.25% then. Does it sell for $1.4M in 2022 when rates are closer to 6%? I don't think so, but I guess we'll see. (Also, the Redfin listing doesn't say it's contingent, FWIW. They have an open house this weekend.) |
Anonymous
| ^^ Never mind. I see where the listing history says "contingent" now. |
Anonymous
You can cut prices by a heck of a lot and still not sell if your starting price is in the stratosphere. I have no idea why they thought $1.475M was a reasonable starting price for an 1,800 sf generic flip (that was flipped eight years ago). They don't seem to have made any real updates since 2014, either—and I'm not a fan of some of what has changed (like painting the interior brick white). $1.25M is still quit a bit too high, IMO. |
Anonymous
Its a nice house and location is good but they listed it high and at an uncertain time. I think it'll go soon for $1.2M or they can rent it out until market bounces back to sell for $1.5M, depends on their personal situation. |
Anonymous
Amazing location but too small and narrow for that price. I'm not just talking about square footage (1800 is not terrible for the hill) but the dimensions of the house are very limiting. I think it will sit and maybe sell for 1.2 or 1.3 if/when market on the Hill recovers (the timing of which is dicey -- it's unlike rates come down anytime before next year, if then, so it's a question of whether inflation stops going nuts and whether people get used to the higher rates, and the timeline on both of those things is up in the air). |
Anonymous
| I'm not in market but if i were, i would totally offer $1.2M with a big down and waive as many contingencies as possible to seal the deal. |
Anonymous
| If listed before May, it would've easy gone for $1.3-$1.5M. |
Anonymous
I call houses like this “GCNK” (gay couple no kids.) $1.4 is kind of a bargain that close to the Senate side and Union Station, with space to entertain, and high-end fixtures and unique details maximizing the windows and light. |
Anonymous
Absolutely! Gay or straight or asexual, its a great location for any couple. |
Anonymous
But it's a very manly house, you have to agree. |
Anonymous
Are we stereotyping? |