Crestwood Home: why aren't these home selling?

[Anonymous]

There are three crestwood homes on the market that seem a bit overpriced. With 75k to 100k of renovations, the houses would really price you out of the market in Crestwood. What are your thoughts?


http://www.redfin.com/DC/Washington/4505-Colorado-Ave-NW-20011/home/10013016

http://www.redfin.com/DC/Washington/4512-Argyle-Ter-NW-20011/home/10012846

http://www.redfin.com/DC/Washington/4405-Colorado-Ave-NW-20011/home/10012997

[Anonymous]

Wow, that was like taking a trip back to the 60s. Ugly and overpriced.

[Anonymous]

So fug I don't know where to start

[Anonymous]

It is the rats.

[Anonymous]

It's the location across from the park and the "potential" that makes these houses desirable. None of that is highlighted in the pictures. The pictures are of ugly houses. You don't see the views - front and back. Maybe these houses have no views, but I've seen one on Colorado Ave that did - fantastic.

[Anonymous]

(These are the opinions of a recent NWNW home buyer.)

The first one doesn't have the bones to expand, so you'll always be stuck with something like a 1300 sq ft house. The basement ceiling height is too low, for example. A pop-up is the only option for more space, and that's probably an easy 150-200 here, and it wouldn't give you much additional space.

Similar comments apply to the third link, except the basement is even worse. You would put in 50-100k to renovate the existing home and be "left" with a 1600 sq ft home at the end of the day. Moreover, the lot size is misleading here. The backyard slopes down before the property line, so you don't have as much "usable" space as is indicated by the lot footage. (This is a general point -- one I learned while searching for house remotely from CA -- lot size is misleading. A smaller, flat lot with most of the space in the back of the home is worth much more than larger, uneven lots with lots of semi-wasted space in front of the home.)

The second doesn't have any pictures, but the lot size is generous. Depending on the grade of the lot, it may be usable.

[Anonymous]

I smell rats

[Anonymous]

Bad schools.

[Anonymous]

When you see bars on windows it screams crime area.

[Anonymous]

Wow. I'm not thinking much of Joe Krupshaw, that's for sure. Those pics could not be uglier. Seems like a real estate agent resting on our "sellers market" and not actually doing any work.

[Anonymous]

Houses in Crestwood seem to move slowly sometimes in ways I don't quite understand. (There's a colonial on the market right now that's been listed for ages and is almost identical to one that went under contract in a week earlier this year.)

I think the first one listed is rather cute and could envision a nice renovation of it, but the PP that noted it's a small footprint is right.

[Anonymous]

I have to believe the school redistricting discussion is going to be a player in home sales at some point.

West isn't a great option. But Crestwood feeds into DEal and Wilson. Take those options away, and Crestwood doesn't have any sort of school selling point. It's not even close to Latin anymore.

[Anonymous]

Crestwood has many beautiful homes that sell for over $1 million, and fast. But there are also several less attractive homes (like the one in the links, although Colorado isn't actually part of Crestwood proper) where people seem to think that the mere fact of them being in Crestwood will justify a higher than normal price. And it doesn't. So some homes sell immediately, and others languish. Realistic pricing is everything.

[Anonymous]

Anonymous wrote:Crestwood has many beautiful homes that sell for over $1 million, and fast. But there are also several less attractive homes (like the one in the links, although Colorado isn't actually part of Crestwood proper) where people seem to think that the mere fact of them being in Crestwood will justify a higher than normal price. And it doesn't. So some homes sell immediately, and others languish. Realistic pricing is everything.

The Crestwood maps state that Colorado is a part of Crestwood. What map are you referring to? If you look at the lines, that section of Colorado borders the park.

[Anonymous]

The school redistricting debacle is a game changer for housing costs. If Crestwood can no longer feed to Deal/Wilson, prices will drop. More and more people have to use public schools- even in affluent areas. If they 're shitty, folks won't pay the premium unless they're in at a kickass charter already.