625k in "Hip Happening Hyattsville"? Overpriced?

[Anonymous]

Anonymous wrote:

Anonymous wrote:
I can't help comparing the house in this thread to this one:
https://www.redfin.com/MD/Hyattsville/4219-Nicholson-St-20781/home/10946956

The one on Nicholson is larger and has that actual Sears Craftsman charm going for it, but the one in this thread may be in better condition. I'm going to guess it sells for $725k-$750k.

Hip Happening language by the same realtor. The one on Nicholson was very updated and charming and a better lot

The Nicholson house didn't have central AC and had a few other old-house issues that this one may not have, though.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:
I can't help comparing the house in this thread to this one:
https://www.redfin.com/MD/Hyattsville/4219-Nicholson-St-20781/home/10946956

The one on Nicholson is larger and has that actual Sears Craftsman charm going for it, but the one in this thread may be in better condition. I'm going to guess it sells for $725k-$750k.

Hip Happening language by the same realtor. The one on Nicholson was very updated and charming and a better lot

The Nicholson house didn't have central AC and had a few other old-house issues that this one may not have, though.

Wow that’s a lot then for that house!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I've been scrolling zillow again - what do you all think of this house? 625k seems high to me. I think this agent must have several listings as I've seen variations on "hip happening historic Hyattsville" several times during this zillow sesh.

https://www.zillow.com/homedetails/5303-41st-Ave-Hyattsville-MD-20781/37517368_zpid/

OP curious where you live?

Currently renting in Silver Spring. We were planning on buying in spring/summer 2020 and had Hyattsville on our list, then pandemic happened, and I hadn't realized how much the prices had gone up!

Ahh makes sense why you’re questioning the price … yeah things have changed in a year big time.

I just went through some of the recent sales and yowza, I'm clearly behind! I think 700k for that house would be too much for me even if it was in budget, because I'd just be too nervous about a crash, but what PPs said about the lot/location being gorgeous also makes sense. We had been looking on the side of Hyattsville closer to West Hyattsville or PG Plaza because I'd like to be walkable to a metro. Good to know about Brentwood/Edmonston though.

Cheverly!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yes, the house is overpriced in large part because Hyattsville is overpriced. When the market inevitably cools, PG County is going to cool a lot faster than other places in the DMV. This not a place where I’d invest.

This is what happened in 2009.

Yawn

Thank you for our Monday morning racism

When the market invetitably cools, PG county will still be one of the only counties with a significant portion of affordable SFH for 1st time homebuyers combined with a reasonable commute to the DC area. The beauty in not overpaying for a house in PG is that when the market does dip or cool, you wont be stuck trying to make a huge profit since you overextended yourself in other areas/dont want to sell for less than you paid. The reason PG specifically had such a hard time in 2009 is due to predatory lending practices and people were overleveraged in their homes.

At some point the market will cool.... after it has blown up because this red hot market has to blow up at some point.... maybe when inflation hits and the interest rates skyrocket.

It's not racist to acknowledge the history of what happened in PG county when the housing market bubble popped. Someone thinking of buying in historic or hip Hyattsville, neighboring College Park, the Riverdales (Park and just plain Riverdale) or Mt. Rainer, should to look back at what happened in 2008/2009 in those neighborhoods. How much did prices dip or did they hold their value?

I walked by this house this week and the neighborhood is unique. I it's got a good mix of 19th and early 20th century homes with some late 20th century stinkers. I would guess that the house would hold it's value better than say a house in Lewisdale. Of course, you're not going to pay that much for a house in Lewisdale, so what would you have to lose? The Rt 1 corridor, outside of the EYA commercial corridor with the Yes! and the Elevation Burger, is unimpressive.

People were saying there wasn't a full bath on the first floor. There is. Look at the 3D tour. There's a bath with a tub at the end of the hall. The 2nd floor has the bathroom with the light blue tile, int he 3D tour you can't see the tub but with the Zillow pictures number 47 of 66 shows the tub more clearly. The 2nd floor tub, looks odd.

[Anonymous]

At some point the market will cool.... after it has blown up because this red hot market has to blow up at some point.... maybe when inflation hits and the interest rates skyrocket.

It's not racist to acknowledge the history of what happened in PG county when the housing market bubble popped. Someone thinking of buying in historic or hip Hyattsville, neighboring College Park, the Riverdales (Park and just plain Riverdale) or Mt. Rainer, should to look back at what happened in 2008/2009 in those neighborhoods. How much did prices dip or did they hold their value?


There will be a crash, but it's unlikely to be in real estate given that banks are well capitalized and lending standards have been tightened up since 2008/2009. What is far more likely is the rate of appreciation will slow down, so don't expect 6-10% year-over-year increases in property values in 2022 and beyond. Parts of PG County were historically undervalued for a variety of reasons after the 2008/2009 crash. Now they are catching up to correct valuations given how close some towns are to a very robust labor market that is Washington, DC.

In many ways the market of PG County is "correcting" after years of being undervalued.

[Anonymous]

I owe so little on my PG house compared to stretching for takoma park so I feel pretty chill about the market.

[Anonymous]

Anonymous wrote:I owe so little on my PG house compared to stretching for takoma park so I feel pretty chill about the market.

I could pay off my Hyattsville house now if I really wanted.

[Anonymous]

I live in this neighborhood. It likely will go for $750-800K.

[Anonymous]

Anonymous wrote:I live in this neighborhood. It likely will go for $750-800K.

I also live in this neighborhood (hi neighbor!). I'm going to be more conservative. I think this house will go for 680. The Nicholson house had a little more square footage, and it was put on the market at the peak of the frenzy. I actually think this house and its location is nicer, but it was a month late to the market. If it had listed in April or May, I think it would have gone for 750.

If this board weren't anonymous, I'd make you a friendly wager.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I live in this neighborhood. It likely will go for $750-800K.

I also live in this neighborhood (hi neighbor!). I'm going to be more conservative. I think this house will go for 680. The Nicholson house had a little more square footage, and it was put on the market at the peak of the frenzy. I actually think this house and its location is nicer, but it was a month late to the market. If it had listed in April or May, I think it would have gone for 750.

If this board weren't anonymous, I'd make you a friendly wager.

Actually betting for dcum, based on IP addresses somehow I guess, is a great idea.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I live in this neighborhood. It likely will go for $750-800K.

I also live in this neighborhood (hi neighbor!). I'm going to be more conservative. I think this house will go for 680. The Nicholson house had a little more square footage, and it was put on the market at the peak of the frenzy. I actually think this house and its location is nicer, but it was a month late to the market. If it had listed in April or May, I think it would have gone for 750.

If this board weren't anonymous, I'd make you a friendly wager.

I'm the PP–betting would make it more interesting for sure! You may be right, though I think the market is still very hot. This house is on a double lot, has interesting architectural details, and is in great shape–though, yes, smaller than the Nicholson house.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yes, the house is overpriced in large part because Hyattsville is overpriced. When the market inevitably cools, PG County is going to cool a lot faster than other places in the DMV. This not a place where I’d invest.

This is what happened in 2009.

Yawn

Thank you for our Monday morning racism

When the market invetitably cools, PG county will still be one of the only counties with a significant portion of affordable SFH for 1st time homebuyers combined with a reasonable commute to the DC area. The beauty in not overpaying for a house in PG is that when the market does dip or cool, you wont be stuck trying to make a huge profit since you overextended yourself in other areas/dont want to sell for less than you paid. The reason PG specifically had such a hard time in 2009 is due to predatory lending practices and people were overleveraged in their homes.

At some point the market will cool.... after it has blown up because this red hot market has to blow up at some point.... maybe when inflation hits and the interest rates skyrocket.

It's not racist to acknowledge the history of what happened in PG county when the housing market bubble popped. Someone thinking of buying in historic or hip Hyattsville, neighboring College Park, the Riverdales (Park and just plain Riverdale) or Mt. Rainer, should to look back at what happened in 2008/2009 in those neighborhoods. How much did prices dip or did they hold their value?

I walked by this house this week and the neighborhood is unique. I it's got a good mix of 19th and early 20th century homes with some late 20th century stinkers. I would guess that the house would hold it's value better than say a house in Lewisdale. Of course, you're not going to pay that much for a house in Lewisdale, so what would you have to lose? The Rt 1 corridor, outside of the EYA commercial corridor with the Yes! and the Elevation Burger, is unimpressive.

People were saying there wasn't a full bath on the first floor. There is. Look at the 3D tour. There's a bath with a tub at the end of the hall. The 2nd floor has the bathroom with the light blue tile, int he 3D tour you can't see the tub but with the Zillow pictures number 47 of 66 shows the tub more clearly. The 2nd floor tub, looks odd.

The Route 1 corridor is undergoing dramatic changes all the way from Mt Rainier, where you have the gorgeous Pennyroyal Station restaurant and other revitalized buildings, through Brentwood, where Mixt Food Hall now resides, into Hyattsville, which stretches from Shortcake Bakery and Sangfroid Gin Distillery, and includes DC Sweet Potato Cake Bakery, Franklins, Vigilante, Pizzeria Paradiso, Streetcar 82, Federalist Pig, Busboys, and all the way to Sugar Vault Bakery. A mile down the road, you have the Whole Foods complex with a plethora of new restaurants and breweries in Riverdale. Keep going another couple miles and you hit the heart of College Park. Maybe explore a bit outside your comfort zone.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yes, the house is overpriced in large part because Hyattsville is overpriced. When the market inevitably cools, PG County is going to cool a lot faster than other places in the DMV. This not a place where I’d invest.

This is what happened in 2009.

Yawn

Thank you for our Monday morning racism

When the market invetitably cools, PG county will still be one of the only counties with a significant portion of affordable SFH for 1st time homebuyers combined with a reasonable commute to the DC area. The beauty in not overpaying for a house in PG is that when the market does dip or cool, you wont be stuck trying to make a huge profit since you overextended yourself in other areas/dont want to sell for less than you paid. The reason PG specifically had such a hard time in 2009 is due to predatory lending practices and people were overleveraged in their homes.

At some point the market will cool.... after it has blown up because this red hot market has to blow up at some point.... maybe when inflation hits and the interest rates skyrocket.

It's not racist to acknowledge the history of what happened in PG county when the housing market bubble popped. Someone thinking of buying in historic or hip Hyattsville, neighboring College Park, the Riverdales (Park and just plain Riverdale) or Mt. Rainer, should to look back at what happened in 2008/2009 in those neighborhoods. How much did prices dip or did they hold their value?

I walked by this house this week and the neighborhood is unique. I it's got a good mix of 19th and early 20th century homes with some late 20th century stinkers. I would guess that the house would hold it's value better than say a house in Lewisdale. Of course, you're not going to pay that much for a house in Lewisdale, so what would you have to lose? The Rt 1 corridor, outside of the EYA commercial corridor with the Yes! and the Elevation Burger, is unimpressive.

People were saying there wasn't a full bath on the first floor. There is. Look at the 3D tour. There's a bath with a tub at the end of the hall. The 2nd floor has the bathroom with the light blue tile, int he 3D tour you can't see the tub but with the Zillow pictures number 47 of 66 shows the tub more clearly. The 2nd floor tub, looks odd.

The Route 1 corridor is undergoing dramatic changes all the way from Mt Rainier, where you have the gorgeous Pennyroyal Station restaurant and other revitalized buildings, through Brentwood, where Mixt Food Hall now resides, into Hyattsville, which stretches from Shortcake Bakery and Sangfroid Gin Distillery, and includes DC Sweet Potato Cake Bakery, Franklins, Vigilante, Pizzeria Paradiso, Streetcar 82, Federalist Pig, Busboys, and all the way to Sugar Vault Bakery. A mile down the road, you have the Whole Foods complex with a plethora of new restaurants and breweries in Riverdale. Keep going another couple miles and you hit the heart of College Park. Maybe explore a bit outside your comfort zone.

+1 to all of this. Only done one who hasn’t been to the area recently would make a comment like PP

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yes, the house is overpriced in large part because Hyattsville is overpriced. When the market inevitably cools, PG County is going to cool a lot faster than other places in the DMV. This not a place where I’d invest.

This is what happened in 2009.

Yawn

Thank you for our Monday morning racism

When the market invetitably cools, PG county will still be one of the only counties with a significant portion of affordable SFH for 1st time homebuyers combined with a reasonable commute to the DC area. The beauty in not overpaying for a house in PG is that when the market does dip or cool, you wont be stuck trying to make a huge profit since you overextended yourself in other areas/dont want to sell for less than you paid. The reason PG specifically had such a hard time in 2009 is due to predatory lending practices and people were overleveraged in their homes.

At some point the market will cool.... after it has blown up because this red hot market has to blow up at some point.... maybe when inflation hits and the interest rates skyrocket.

It's not racist to acknowledge the history of what happened in PG county when the housing market bubble popped. Someone thinking of buying in historic or hip Hyattsville, neighboring College Park, the Riverdales (Park and just plain Riverdale) or Mt. Rainer, should to look back at what happened in 2008/2009 in those neighborhoods. How much did prices dip or did they hold their value?

I walked by this house this week and the neighborhood is unique. I it's got a good mix of 19th and early 20th century homes with some late 20th century stinkers. I would guess that the house would hold it's value better than say a house in Lewisdale. Of course, you're not going to pay that much for a house in Lewisdale, so what would you have to lose? The Rt 1 corridor, outside of the EYA commercial corridor with the Yes! and the Elevation Burger, is unimpressive.

People were saying there wasn't a full bath on the first floor. There is. Look at the 3D tour. There's a bath with a tub at the end of the hall. The 2nd floor has the bathroom with the light blue tile, int he 3D tour you can't see the tub but with the Zillow pictures number 47 of 66 shows the tub more clearly. The 2nd floor tub, looks odd.

The Route 1 corridor is undergoing dramatic changes all the way from Mt Rainier, where you have the gorgeous Pennyroyal Station restaurant and other revitalized buildings, through Brentwood, where Mixt Food Hall now resides, into Hyattsville, which stretches from Shortcake Bakery and Sangfroid Gin Distillery, and includes DC Sweet Potato Cake Bakery, Franklins, Vigilante, Pizzeria Paradiso, Streetcar 82, Federalist Pig, Busboys, and all the way to Sugar Vault Bakery. A mile down the road, you have the Whole Foods complex with a plethora of new restaurants and breweries in Riverdale. Keep going another couple miles and you hit the heart of College Park. Maybe explore a bit outside your comfort zone.

Don't forget the wine bar coming to Mount Rainier!

[Anonymous]

I don’t think SS is that nice actually. It’s nice but no way am I pining to live there over the RR Corridor. But I grew up here when it was called City Place.

OP you’ll get your huge overly constructed shopping places soon with the Southern Gateway construction.