Are these H St. NE / Capitol Hill houses priced appropriately?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Here are some additional relistings. There are actually far more examples of price drops than failed contracts.

https://www.redfin.com/DC/Washington/1417-Maryland-Ave-NE-20002/home/10177664

https://www.redfin.com/DC/Washington/1516-N-Carolina-Ave-NE-20002/home/9918332

These are not good examples.

Why not?

NP here. But I'll play! Because they are a block from the starburst intersection and have almost no relevance to home sales off H Street (north and south of) farther west.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:A bunch of homes that didn't sell over the summer have been relisted with lower prices. Also looks like contracts fell through on these two. I think the recent flipper listings in the $1M range have missed the boat -- prices finally seem to be coming back to earth in this neighborhood.

And your impression is based on...? See, below.

https://www.redfin.com/DC/Washington/1101-9th-St-NE-20002/unit-2/home/88631402

https://www.redfin.com/DC/Washington/619-12th-St-NE-20002/home/9910202

https://www.redfin.com/DC/Washington/648-G-St-NE-20002/home/9898519

https://www.redfin.com/DC/Washington/1101-7th-St-NE-20002/home/9900901

https://www.redfin.com/DC/Washington/904-11th-St-NE-20002/home/9905908

https://www.redfin.com/DC/Washington/1020-F-St-NE-20002/home/9906172

https://www.redfin.com/DC/Washington/612-11th-St-NE-20002/home/9906167

Providing examples of houses that went under contract over the summer and closed during the past few months actually proves my point. Summer was a great time to make a killing as a seller. Recent listings have not fared as well. We'll see how things go over the fall and winter. Mortgage rates are way up with Biden winning and COVID vaccine announcement.

So you are going to stick your head in the sand and say that unless a house closed this week it doesn't count? Many of those closed September or October. With listings less than 45 days prior. Why not just reply with "But I believe it so it must be true!" and be done with it?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:A bunch of homes that didn't sell over the summer have been relisted with lower prices. Also looks like contracts fell through on these two. I think the recent flipper listings in the $1M range have missed the boat -- prices finally seem to be coming back to earth in this neighborhood.

https://www.redfin.com/DC/Washington/808-I-St-NE-20002/home/9902295

https://www.redfin.com/DC/Washington/933-8th-St-NE-20002/home/9902280

What am I missing about the 8th Street house? It's teeny tiny, yeah, but that seems like a pretty good price for a condo alternative in that neighborhood.

Agree. Adorable and a couple blocks from Union Market. I’d happily live there if I didn’t have two kids and a husband.

Location. That strip of 8th is loud as hell, and this specific house has a bus stop right in front of it. There's not much yard, so you basically have people hanging out directly in front of your house all day, every day, plus every bus up and down 8th street is pumping those air breaks 15 feet from your living room six times an hour.

This is why there is always so much real estate activity on 8th street, especially between H and K NE. Lots of cute houses, and the proximity to H is great, but actually living there is pretty irritating. Whenever I see a listing on this strip of 8th, I check the history. Many of them only sold a couple years earlier. There's a reason for the turnover.

That said, it's still benefitting from the price increases in the neighborhood and will likely go for well over 500k (they bought for 460k in 2016).

Like check out this one closer to H:

https://www.redfin.com/DC/Washington/814-8th-St-NE-20002/home/9901072

It last sold in 2018 for 850k. They've had to list it at least three times since then (it was on the market in 2019, then again this summer, then pulled and went up again in October). But now it's pending, with a list of 1.09m. Even if it goes for under 1m, that's still an amazing mark up over two years, despite the fact that they obviously could not deal with the location for long. These houses are harder to sell, but they are still getting the price bump.

[Anonymous]

Anonymous wrote:

Anonymous wrote:$649,000: 1BR/1.5BA, 760 sqft: https://www.redfin.com/DC/Washington/717-F-St-NE-20002/home/173495545
I like the concept of places like this, and I think they make great pieds a terre and vacation rentals, but I'm not sure I would want one as my primary residence. Lofted bedrooms give me anxiety. (What if there's a fire and I'm trapped? What if I sleepwalk over the railing? What if I have houseguests and zero privacy? A one-bedroom apartment at least would have a door that closes.) I think this should be priced closer to a one-bedroom + den condo, around $500k.

$769,000: 2BR/1.5BA, 1210 sqft: https://www.redfin.com/DC/Washington/1011-C-St-NE-20002/home/9906661
Nice not to have to share any walls with neighbors. I think this is fairly priced and should be snatched up quickly.

$799,000: 3BR/2BA, 1454 sqft: https://www.redfin.com/DC/Washington/1245-K-St-SE-20003/home/9912233
I got halfway through the listing photos and was like wait, am I still looking at the same house? They had some random bathroom inspiration, lol. I like that there's both a nice backyard and parking -- so many of these types of houses force you to choose one or the other. I wouldn't like being right up against the freeway or so close to Potomac Gardens. Still, I think the price is fair, and I expect this one to go quickly as well.

$799,999: 3BR/2BA, 1900 sqft: https://www.redfin.com/DC/Washington/634-15th-St-NE-20002/home/9915940
This one will be under contract before the end of the week, for sure.

$825,000, 3BR/2.5BA, 1593 sqft: https://www.redfin.com/DC/Washington/1358-E-St-SE-20003/home/9914931
I should probably take a break and come back and look at the rest of these later. Everything is starting to look the same. This one is fine. Woot.

$975,000: 2BR/2BA, 1506 sqft: https://www.redfin.com/DC/Washington/624-C-St-SE-20003/home/9900222
Paying for the location here. I actually wouldn't want to live *that close* to Eastern Market, especially without parking. Better to be a few blocks deeper into the more peaceful part of the neighborhood. Interesting flex to create a bedroom verandah instead of increasing the indoor square footage with the extension. I like the blue exterior paint. I've been thinking about painting my house lime green like the one next to this.

$895,000, 1300 sqft: https://www.redfin.com/DC/Washington/1757-A-St-SE-20003/home/9921329
This is prime for a pop-up / pop-out right next to a Metro station. Could easily get 3-4 condos out of this end unit and sell for $800k a pop. It's a good investment for an experienced developer.

Prescient predictions. The bolded are the only two from this list under contract.

Ten days later, everything in that list is now pending except 717 F, 1245 K SE, and the "shell" at 1757 A SE. I'm a little surprised that 1245 K SE hasn't sold yet. Not so much with the other two.

[Anonymous]

Here are updates on a couple of other houses that have been discussed in this thread:

Anonymous wrote:A bunch of homes that didn't sell over the summer have been relisted with lower prices. Also looks like contracts fell through on these two. I think the recent flipper listings in the $1M range have missed the boat -- prices finally seem to be coming back to earth in this neighborhood.

https://www.redfin.com/DC/Washington/808-I-St-NE-20002/home/9902295

https://www.redfin.com/DC/Washington/933-8th-St-NE-20002/home/9902280

808 I is pending again (as of Nov. 9). 933 8th is not. (As PPs have said, 8th St. really seems to be an unfortunate street to live on if you want to sell your home quickly.)

Anonymous wrote:This one SHOULD FLY OFF THE HANDLE:

https://www.zillow.com/homedetails/402-G-St-NE-Washington-DC-20002/415407_zpid/

This one is still on the market, with an open house set for this weekend. It's only been 9 days, but hot houses were selling by the first weekend not that long ago. Maybe this house isn't as aggressively priced as some think, or maybe the market is cooling down. Or maybe everyone was too busy watching election drama to look at houses last week. I wonder if we'll see a price adjustment if it doesn't get any offers this weekend.

[Anonymous]

Two of my close-ish neighbors near Lincoln Park have been doing some extensive "beautification" outside their houses-- repainting the entire front, gardening/clean-up of front porches, redoing their front walks. It seems to go a bit beyond the normal refresh you'd do of a house you plan to keep for awhile.

Can't wait to see if they appear on here soon!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Oh, and I realize that most of the houses on that list aren't in quite as nice a spot at 402 G.

Huge difference in location even though just a few blocks away.

This.

School district bump alone probably worth $50K.

They are zoned for exactly the same schools!!! LT, SH and Eastern. Are you an gent with a house on the 400 block of G Street? Sigh...

Yes, this neighborhood difference was more pronounced 20+ years ago when those extra two - three blocks meant a higher likelihood of getting shot. Now it is not a big deal, at all, or there are even bonuses, as you're living closer to your peers vs NIMBY retirees who have these entrenched attitudes "Old -Hill" ...

It cuts both ways, though... I for one would much rather live in the 600 block of G, than in the blocks near Eastern Market.

Almost true but not quite. I purposely avoid G street between 7th and 8th because of the constant loitering.

That is exactly one house. I feel bad for the neighbors, though, because those guys are ALWAYS outside and they smoke so much pot.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Oh, and I realize that most of the houses on that list aren't in quite as nice a spot at 402 G.

Huge difference in location even though just a few blocks away.

This.

School district bump alone probably worth $50K.

They are zoned for exactly the same schools!!! LT, SH and Eastern. Are you an gent with a house on the 400 block of G Street? Sigh...

Yes, this neighborhood difference was more pronounced 20+ years ago when those extra two - three blocks meant a higher likelihood of getting shot. Now it is not a big deal, at all, or there are even bonuses, as you're living closer to your peers vs NIMBY retirees who have these entrenched attitudes "Old -Hill" ...

It cuts both ways, though... I for one would much rather live in the 600 block of G, than in the blocks near Eastern Market.

Almost true but not quite. I purposely avoid G street between 7th and 8th because of the constant loitering.

That is exactly one house. I feel bad for the neighbors, though, because those guys are ALWAYS outside and they smoke so much pot.

OMG. What is with that scene. What is it about that one spot on that one block that makes them want to be right there? They are smoking a ton of pot 20 feet from the front door of Ludlow Taylor. Can you imagine knowingly buying a house on that block knowing what's going on there?

[Anonymous]

Anonymous wrote:Here are updates on a couple of other houses that have been discussed in this thread:

Anonymous wrote:A bunch of homes that didn't sell over the summer have been relisted with lower prices. Also looks like contracts fell through on these two. I think the recent flipper listings in the $1M range have missed the boat -- prices finally seem to be coming back to earth in this neighborhood.

https://www.redfin.com/DC/Washington/808-I-St-NE-20002/home/9902295

https://www.redfin.com/DC/Washington/933-8th-St-NE-20002/home/9902280

808 I is pending again (as of Nov. 9). 933 8th is not. (As PPs have said, 8th St. really seems to be an unfortunate street to live on if you want to sell your home quickly.)

Anonymous wrote:This one SHOULD FLY OFF THE HANDLE:

https://www.zillow.com/homedetails/402-G-St-NE-Washington-DC-20002/415407_zpid/

This one is still on the market, with an open house set for this weekend. It's only been 9 days, but hot houses were selling by the first weekend not that long ago. Maybe this house isn't as aggressively priced as some think, or maybe the market is cooling down. Or maybe everyone was too busy watching election drama to look at houses last week. I wonder if we'll see a price adjustment if it doesn't get any offers this weekend.

Chuckling at the bolded. If memory serves this is the same house that several DCUM posters talked up (especially in comparison to the one two blocks East that is now under contract). I guess the agent's guerilla marketing campaign wasn't that successful, huh?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Oh, and I realize that most of the houses on that list aren't in quite as nice a spot at 402 G.

Huge difference in location even though just a few blocks away.

This.

School district bump alone probably worth $50K.

They are zoned for exactly the same schools!!! LT, SH and Eastern. Are you an gent with a house on the 400 block of G Street? Sigh...

Yes, this neighborhood difference was more pronounced 20+ years ago when those extra two - three blocks meant a higher likelihood of getting shot. Now it is not a big deal, at all, or there are even bonuses, as you're living closer to your peers vs NIMBY retirees who have these entrenched attitudes "Old -Hill" ...

It cuts both ways, though... I for one would much rather live in the 600 block of G, than in the blocks near Eastern Market.

Almost true but not quite. I purposely avoid G street between 7th and 8th because of the constant loitering.

That is exactly one house. I feel bad for the neighbors, though, because those guys are ALWAYS outside and they smoke so much pot.

OMG. What is with that scene. What is it about that one spot on that one block that makes them want to be right there? They are smoking a ton of pot 20 feet from the front door of Ludlow Taylor. Can you imagine knowingly buying a house on that block knowing what's going on there?

They live there. Or, at least, they’re related to someone who does. I’ve seen people touring the house that’s for sale next door and I always feel a stab of sympathy for the seller. Who would buy that place for $1 million after walking through the cloud of pot smoke? On the other hand, the guys there always say hello very nicely when I walk by.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Oh, and I realize that most of the houses on that list aren't in quite as nice a spot at 402 G.

Huge difference in location even though just a few blocks away.

This.

School district bump alone probably worth $50K.

They are zoned for exactly the same schools!!! LT, SH and Eastern. Are you an gent with a house on the 400 block of G Street? Sigh...

Yes, this neighborhood difference was more pronounced 20+ years ago when those extra two - three blocks meant a higher likelihood of getting shot. Now it is not a big deal, at all, or there are even bonuses, as you're living closer to your peers vs NIMBY retirees who have these entrenched attitudes "Old -Hill" ...

It cuts both ways, though... I for one would much rather live in the 600 block of G, than in the blocks near Eastern Market.

Almost true but not quite. I purposely avoid G street between 7th and 8th because of the constant loitering.

That is exactly one house. I feel bad for the neighbors, though, because those guys are ALWAYS outside and they smoke so much pot.

OMG. What is with that scene. What is it about that one spot on that one block that makes them want to be right there? They are smoking a ton of pot 20 feet from the front door of Ludlow Taylor. Can you imagine knowingly buying a house on that block knowing what's going on there?

They live there. Or, at least, they’re related to someone who does. I’ve seen people touring the house that’s for sale next door and I always feel a stab of sympathy for the seller. Who would buy that place for $1 million after walking through the cloud of pot smoke? On the other hand, the guys there always say hello very nicely when I walk by. [/quote]

LOL at the bolded. You like that? It's one thing when people smile/nod and move out the way when you walk by. I don't need half a dozen men yelling hi after me when I'm walking on the other side of the street.

[Anonymous]

What do we think about this one listed yesterday? 4br, 2.5ba, 1800+ sq ft for $860k. End unit, looks pretty spacious, nice porch and patio. One of the quieter blocks in the neighborhood. No parking though.

https://www.redfin.com/DC/Washington/935-5th-St-NE-20002/home/9896557

[Anonymous]

Anonymous wrote:
They live there. Or, at least, they’re related to someone who does. I’ve seen people touring the house that’s for sale next door and I always feel a stab of sympathy for the seller. Who would buy that place for $1 million after walking through the cloud of pot smoke? On the other hand, the guys there always say hello very nicely when I walk by.

Formatting error. Let's try this again.

LOL at the bolded. You like that? It's one thing when people smile/nod and move out the way when you walk by. I don't need half a dozen men yelling hi after me when I'm walking on the other side of the street.

[Anonymous]

And another new one today: 3br/2ba 1700+ sq ft for $799k. Nice curb appeal, on a one-way street. No pictures at the time of this post, which I took to mean the inside is a disaster, but then I saw the 3D walkthrough and it's pretty nice. So I guess the listing agent is just doing the seller a disservice by not including standard interior photos.

https://www.redfin.com/DC/Washington/1150-4th-St-NE-20002/home/9892096

[Anonymous]

I guess I should have just done these all in a single post. Last batch for now:

4br/2.5ba - 2000 sq ft - $915k. Very nice interior but way too close to Florida Ave for my taste.
https://www.redfin.com/DC/Washington/1205-6th-St-NE-20002/home/9898206

3br/3.5ba - 2000 sq ft - $900k:
https://www.redfin.com/DC/Washington/656-Orleans-Pl-NE-20002/home/9898038

3br/1.5ba - 1700 sq ft - $899k: On a busy street, but convenient to Eastern Market, Potomac Ave, and Lincoln Park. Nice garden house included.
https://www.redfin.com/DC/Washington/524-11th-St-SE-20003/home/9909367

2br/1.5ba - 1100+ sq ft - $779k. Condo alternative of the week, and one that actually looks like an easy place to live. Walk-in closet, basement, and a GARAGE.
https://www.redfin.com/DC/Washington/312-3rd-St-NE-20002/home/9891220