anyone knows what's going on with this CCDC listing?

[Anonymous]

If you like old homes, this one is lovely, yet there are a few areas that could use some attention. I bet it would be hard to find a contractor willing to do the small upgrades needed.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Doesn't seem like it's worth anywhere near $1.7.
$1.4 or $1.5 maybe.

There's a 0.0 percent chance this sells for $1.4 or $1.5. It'll get asking, at minimum.

Oh but it looks like 1st PP may be right who said $1.4 or $1.5. We know it's not getting asking. And we know it's not getting $100K less than asking, since it's still sitting. Where will they go next with the price. I say they drop to $1.55M. Looks like they still want a delusional $7950/month rental price.

[Anonymous]

It’s been a month already. I’m suspecting maybe another 100k price drop in the next few days?

[Anonymous]

Anonymous wrote:I saw the house and the agent explained the circumstances. I won't share here, since the reasons are personal, but they made sense for why they would need to sell it so soon. It's a great house but does need work.

Divorce or poor health.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Doesn't seem like it's worth anywhere near $1.7.
$1.4 or $1.5 maybe.

There's a 0.0 percent chance this sells for $1.4 or $1.5. It'll get asking, at minimum.

Oh but it looks like 1st PP may be right who said $1.4 or $1.5. We know it's not getting asking. And we know it's not getting $100K less than asking, since it's still sitting. Where will they go next with the price. I say they drop to $1.55M. Looks like they still want a delusional $7950/month rental price.

Dropped to $1.45M. So they are now at $210K less than they paid?

[Anonymous]

overpriced and flood zone.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Doesn't seem like it's worth anywhere near $1.7.
$1.4 or $1.5 maybe.

There's a 0.0 percent chance this sells for $1.4 or $1.5. It'll get asking, at minimum.

Oh but it looks like 1st PP may be right who said $1.4 or $1.5. We know it's not getting asking. And we know it's not getting $100K less than asking, since it's still sitting. Where will they go next with the price. I say they drop to $1.55M. Looks like they still want a delusional $7950/month rental price.

Dropped to $1.45M. So they are now at $210K less than they paid?[/quote

Plus real estate commissions to sell.

[Anonymous]

Wonder what happened to the other bidders that they presumably competed against to escalate to the price they paid. Maybe they were shills?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Doesn't seem like it's worth anywhere near $1.7.
$1.4 or $1.5 maybe.

There's a 0.0 percent chance this sells for $1.4 or $1.5. It'll get asking, at minimum.

Oh but it looks like 1st PP may be right who said $1.4 or $1.5. We know it's not getting asking. And we know it's not getting $100K less than asking, since it's still sitting. Where will they go next with the price. I say they drop to $1.55M. Looks like they still want a delusional $7950/month rental price.

Dropped to $1.45M. So they are now at $210K less than they paid?

This is a good deal now. In a busier market, this price is low enough that it would get a lot of interest and it would escalate up to $1.5-$1.6 million. Now, some buyer might get lucky and get it for a song.

[Anonymous]

Yeah agreed. Someone should jump on this house.

[Anonymous]

Needs a lot of work still.

[Anonymous]

Is it possible that this is just the market talking, re: higher interest rates?

[Anonymous]

Anonymous wrote:overpriced and flood zone.

Not really. The one-year risk is 4%. The higher risk later is attributed to climate change. But climate change estimates have huge uncertainty bands around them.

[Anonymous]

Anonymous wrote:Is it possible that this is just the market talking, re: higher interest rates?

Other houses close to this one in CCDC recently have flown off the market in less than a week.

6 days, $235k over asking: https://www.redfin.com/DC/Washington/5339-Nevada-Ave-NW-20015/home/9978137

6 days, $51k over asking: https://www.redfin.com/DC/Washington/5347-Nevada-Ave-NW-20015/home/9978142

4 days, $190k over asking: https://www.redfin.com/DC/Washington/5379-Nevada-Ave-NW-20015/home/9978194

5 days, $135k over asking: https://www.redfin.com/DC/Washington/3638-Jenifer-St-NW-20015/home/9977867

1 day, $60k over asking: https://www.redfin.com/DC/Washington/5457-Nebraska-Ave-NW-20015/home/9980814

[Anonymous]

Hopefully, they have exercised their right to see any offers that caused them to escalate when they bought this house, and have contacted those other offerors to determine if they might still be interested in this house.