What is up with this listing in Arlington Forest?

[Anonymous]

I drive by and I swear this house has been on sale forever: http://www.redfin.com/VA/Arlington/4763-Arlington-Blvd-22203/home/11243833

Assessment is $500K but it keeps getting listed (and delisted and relisted) for $100K to $150K above that.

I'm particularly baffled because it was sold in 2004 for $400K, so it were priced right, it would have probably sold with multiple bids and the owner would have made a profit. It doesn't make sense to me -- why list so much higher than the comps/assessment? My thought is, if this were priced at $500K, it would get bid up to $550 or $560K the first weekend. But maybe now it's been on the market too long and the perception is it's not worth it?

[Anonymous]

Repeat after me: "assessment has nothing to do with value."

[Anonymous]

It's way overpriced. It's on Rte. 50 and is being sold As-Is. You can get houses in N. Arlington on a much less busy street in decent condition for only about $50,000 more than that. It definitely needs to be in the $500,000 range.

[Anonymous]

Yeah, those sellers are dreaming. Ugly house, bad schools. I'm looking in the 500k range and honestly even for that amount I'd probably pass on this one.

[Anonymous]

As is condition

[Anonymous]

Yeah, I'm considering this neighborhood and in that's in the middle of my price range. I can't imagine how low the price would have to be to get me on Arlington Blvd., although I do think this house is separated ftom it by a service road.

[Anonymous]

as prices increase it will be priced right in 3 months

[Anonymous]

9:33 here: agree with the poster above about the schools. Wouldn't describe then as bad, but certainly less desirable seeing as the elementary is Barrett.

[Anonymous]

Anonymous wrote:It's way overpriced. It's on Rte. 50 and is being sold As-Is. You can get houses in N. Arlington on a much less busy street in decent condition for only about $50,000 more than that. It definitely needs to be in the $500,000 range.

Actually, I bought my Arlington Forest house on a quiet street for $550K a little while ago (in turnkey, non-as-is condition), so it doesn't seem to make any sense where it's priced.

Most Arlington Forest homes going in the $600 range have a big extension on them (this doesn't). I really don't get the strategy of pricing it so high that it sits for years...

[Anonymous]

I agree - it's way overpriced. The price would have to be WAY below the rest of the neighborhood to convince me to live on Rt 50.

[Anonymous]

Anonymous wrote:It's way overpriced. It's on Rte. 50 and is being sold As-Is. You can get houses in N. Arlington on a much less busy street in decent condition for only about $50,000 more than that. It definitely needs to be in the $500,000 range.

+1

I live in the neighborhood and have seen much nicer houses in that price range that are NOT in Rt. 50. Plus the basement also looks a bit rough. It is overpriced. Most homes I have seen listed on Rt. 50 are in the 500-550 range.