Why isn't this house selling Michigan Park

Anonymous
Standard center hall colonial in a great neighborhood. A little pricey considering it is on a main road, what gives:

http://www.redfin.com/DC/Washington/3940-7th-St-NE-20017/home/10086374

Realistically, what do you think the house should be priced at?
Anonymous
It's a condo, not a house.
Anonymous
OP here, sorry about that, here is the link:

http://www.redfin.com/DC/Washington/4824-Eastern-Ave-NE-20017/home/10100867
Anonymous
Oh. I dunno. Looks really nice! Maybe that neighborhood doesn't really attract 500k+ buyers yet?
Anonymous
Also, busy road.
Anonymous
What a ridiculous flip. In that neighborhood?
Anonymous
"Great neighborhood", OP?
Anonymous
Realistically - $450k.
Anonymous
Probably overpriced. It is a really nice, quiet area that I drive by daily. Early morning and evening, deer come out of the woods directly across the street. Always makes me smile.
Anonymous
Anonymous wrote:"Great neighborhood", OP?


You had a typo:

"Great neighborhood", listing agent?
Anonymous
Nah, not the listing agent. I think the house is overpriced too. I would take off 10 percent for the busy street and another 10 percent cuz the area is not "hot" yet.

Yes, deer do come out of the federal park land across the street.
Anonymous
It's a pokey little house in a suburban like setting without all the suburban advantages like decent neighborhood public schools.
Anonymous
What buyer with $600K to spend would pick that neighborhood over several others in the city?
Anonymous
It's a nice renovation, but looks small. Way overpriced for the neighborhood. Maybe $500K. more like $475.
Anonymous
Is it underground? I don't see any windows in the main living space. Also, I think that is the WORST deck view I have ever seen.

What a depressing dumpy condo in a bad neighborhood. If I wanted to pay that much to have unusable schools, I would at least live in a better location!

I smell a desperate flipper watching his money circle the drain. Paid 270k last August and has had it on and off the market at 319, 329, 299...

What I don't understand is if it wouldn't sell at 299k, why relist it for 329k?
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