Capitol Hill State of the Market?

[Anonymous]

Now that the peanut gallery is riled up, very curious what folks think of the only two "family homes" available in the heart of Historic district right now:
- 1327 North Carolina NE - 2br 2ba for $995k (https://www.redfin.com/DC/Washington/1327-N-Carolina-Ave-NE-20002/home/9914044)
- 607 G Street SE - 3br, 2ba for $950k, but it's been on the market since last July on and off and seems to be a complete gut (https://www.redfin.com/DC/Washington/607-G-St-SE-20003/home/9900787)

There continues to be a significant lack of supply for ~3br homes around Brent or Eastern Market for <$1.5m, which is simply too expensive for most families.

[Anonymous]

Wow! I love North Carolina Ave but 2 bd is tight for a family. And woah I had no idea that guts were going for $950k, even in that area.

(Btw-I really miss the Capitol Hill thread where some enterprising DCUMers posted the latest real estate listings! I’m too lazy to do it myself, though.)

[Anonymous]

CRIME! are you insane? My kid lives there and I'm begging him to leave

[Anonymous]

Its election year so more rentals needed then new government comes and more rent and buy needed on Capitol Hill. It would be good to list your property in March-April. Prices there would go up in summer.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I live on the Hill in a condo and watch the market pretty closely. It's still been slower recently with houses sitting for longer. But I think part of what is happening is that many sellers are like you -- they do not have to sell, they want top dollar, and they are not so inclined to build in that 'interest rate hike discount' that most buyers are looking for at the moment. I also think some sellers will list to test the market, decide it's too soft for their taste, and then take it back of the market. I know a bunch of people who decided to rent out their properties rather than sell now because they are locked in with low rates and can afford to sit on it. However, things do still move, especially if in good condition and inbound for a good elementary, as your house is.

I think people are struggling with pricing strategy because until the rate hike, the strategy on the Hill was to price as high as possible and you might just get it, then maybe one small discount and you'd be guaranteed offers. There are just fewer buyers who can afford a house in the 800k-1.5m range right now, because buyers in that range are generally still mortgage borrowers, and mortgages just cost more now. I don't know what the right strategy is.

But I do think if you are motivated to move, you'll find a buyer and you will make a profit of the sale. It just might not be *quite* as high as it would have been if you'd sold in 2021.

This is exactly the type of info I was looking for, thanks. I am also one of those longtime residents with a small mortgage refinanced to a very low interest rate, but I would not be buying another place (just moving into an apartment).

It's actually a not-great decision financially, but for many reasons I'm ready to go. I've thought about the rental thing, but would then lose the $250k primary home sale exemption when I do sell, and I would absolutely have to have a full-on management company handle it, which would eat into the rent.

I already own another house well away from DC, and spend half the year there, so I'm pretty tired of having to maintain two houses, especially one that's well over 100 years old.

I'm interested to hear what my realtor suggests as a pricing strategy. I do have a target number in mind, one that I don't think is out of step with the current market.

Bring a landlord in DC is awful... And the property management companies are so meh.

[Anonymous]

Anonymous wrote:

Bring a landlord in DC is awful... And the property management companies are so meh.

Yeah, I did about five minutes of research and decided I wanted no part of it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Bring a landlord in DC is awful... And the property management companies are so meh.

Yeah, I did about five minutes of research and decided I wanted no part of it.

Its not too bad if you just rent out your basement unit, where you can keep an eye on it. Renting out a townhouse is a complete pain.

[Anonymous]

Anonymous wrote:Now that the peanut gallery is riled up, very curious what folks think of the only two "family homes" available in the heart of Historic district right now:
- 1327 North Carolina NE - 2br 2ba for $995k (https://www.redfin.com/DC/Washington/1327-N-Carolina-Ave-NE-20002/home/9914044)
- 607 G Street SE - 3br, 2ba for $950k, but it's been on the market since last July on and off and seems to be a complete gut (https://www.redfin.com/DC/Washington/607-G-St-SE-20003/home/9900787)

There continues to be a significant lack of supply for ~3br homes around Brent or Eastern Market for <$1.5m, which is simply too expensive for most families.

That block of NC is a disaster due to the new bike lanes and the current Maury/Miner situation would not make me want to be IB with small children.

And G Street is way overpriced for no interior photos. IB for Brent and good location, though.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Now that the peanut gallery is riled up, very curious what folks think of the only two "family homes" available in the heart of Historic district right now:
- 1327 North Carolina NE - 2br 2ba for $995k (https://www.redfin.com/DC/Washington/1327-N-Carolina-Ave-NE-20002/home/9914044)
- 607 G Street SE - 3br, 2ba for $950k, but it's been on the market since last July on and off and seems to be a complete gut (https://www.redfin.com/DC/Washington/607-G-St-SE-20003/home/9900787)

There continues to be a significant lack of supply for ~3br homes around Brent or Eastern Market for <$1.5m, which is simply too expensive for most families.

That block of NC is a disaster due to the new bike lanes and the current Maury/Miner situation would not make me want to be IB with small children.

And G Street is way overpriced for no interior photos. IB for Brent and good location, though.

Don't think the new NC setup is a disaster at all, I'd be more likely to live there now that they did that design. It's right by Lincoln park. And I live in Rosedale so that bike lane/blocked NC entry off of Lincoln changed my route home, but not a big deal (I go to D St now and turn right). Would also note that a lot of ppl bike/walk in that area of the hill so that setup makes it safer than it was for a family with kids. Crossing the major corners with kids into Lincoln or Stanton Park is always kind of nerve wracking the way some people drive.

[Anonymous]

Anonymous wrote:8 whole results! Okay, I'll ask another way. Anyone have any recent experiences trying to buy a house on the Hill?

Uh, 8 people have? Youre lazy.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Now that the peanut gallery is riled up, very curious what folks think of the only two "family homes" available in the heart of Historic district right now:
- 1327 North Carolina NE - 2br 2ba for $995k (https://www.redfin.com/DC/Washington/1327-N-Carolina-Ave-NE-20002/home/9914044)
- 607 G Street SE - 3br, 2ba for $950k, but it's been on the market since last July on and off and seems to be a complete gut (https://www.redfin.com/DC/Washington/607-G-St-SE-20003/home/9900787)

There continues to be a significant lack of supply for ~3br homes around Brent or Eastern Market for <$1.5m, which is simply too expensive for most families.

That block of NC is a disaster due to the new bike lanes and the current Maury/Miner situation would not make me want to be IB with small children.

And G Street is way overpriced for no interior photos. IB for Brent and good location, though.

Don't think the new NC setup is a disaster at all, I'd be more likely to live there now that they did that design. It's right by Lincoln park. And I live in Rosedale so that bike lane/blocked NC entry off of Lincoln changed my route home, but not a big deal (I go to D St now and turn right). Would also note that a lot of ppl bike/walk in that area of the hill so that setup makes it safer than it was for a family with kids. Crossing the major corners with kids into Lincoln or Stanton Park is always kind of nerve wracking the way some people drive.

Agreed-- that location is excellent. I actually like the new bike lanes and do think it makes it way safer walking in that area. I do think the house is small though-- 2 bed for nearly $1 mil?? But I'm always shocked by current day prices around here.

[Anonymous]

I'd like to see how they measured that to get to 2000 sq ft. Those houses aren't even 20 feet wide, below grade doesn't count. Is it really 50 ft deep?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Now that the peanut gallery is riled up, very curious what folks think of the only two "family homes" available in the heart of Historic district right now:
- 1327 North Carolina NE - 2br 2ba for $995k (https://www.redfin.com/DC/Washington/1327-N-Carolina-Ave-NE-20002/home/9914044)
- 607 G Street SE - 3br, 2ba for $950k, but it's been on the market since last July on and off and seems to be a complete gut (https://www.redfin.com/DC/Washington/607-G-St-SE-20003/home/9900787)

There continues to be a significant lack of supply for ~3br homes around Brent or Eastern Market for <$1.5m, which is simply too expensive for most families.

That block of NC is a disaster due to the new bike lanes and the current Maury/Miner situation would not make me want to be IB with small children.

And G Street is way overpriced for no interior photos. IB for Brent and good location, though.

that block is one of the nicest on the Hill! a disaster??

[Anonymous]

Anonymous wrote:I'd like to see how they measured that to get to 2000 sq ft. Those houses aren't even 20 feet wide, below grade doesn't count. Is it really 50 ft deep?

All DC listings include a finished basement below grade in their sq footage, I don't think I've seen a row house real estate listing that didn't... In my neighborhood, the below grade sq foot is included in every listing listing if the basement is finished for wardman style homes

[Anonymous]

Anonymous wrote:

Anonymous wrote:I'd like to see how they measured that to get to 2000 sq ft. Those houses aren't even 20 feet wide, below grade doesn't count. Is it really 50 ft deep?

All DC listings include a finished basement below grade in their sq footage, I don't think I've seen a row house real estate listing that didn't... In my neighborhood, the below grade sq foot is included in every listing listing if the basement is finished for wardman style homes

Did you look at the photos? Its not finished unless you call painting the walls finished, and its only 6'6" high.