Why aren't DC homes selling???

[Anonymous]

There is probably more to the story, but this renovated cap hill rowhome just did a $350K price drop yesterday (from 1.85 to 1.5) after starting at $2.5 in April.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I've been in real estate for 20 years. From my experience, the 💯🏆🔝😍 locations are still relatively strong. On the other hand, the 🗑️💩🪠🤮🦨 locations are having a tough time in DC proper. People don't want bad schools, the irony of having poor walkability while living in the city, and living near public housing.

I think we are in the midst of a repricing of assets. Gone are the days where people are buying into the dream that Petworth or Edgewood will become the next Logan Circle in short order.

I lived in Shaw in 1991. That's what people said then.

Shaw is next to Logan Circle, one neighborhood over from Dupont, and borders on Downtown DC.

Not quite. Logan Circle and the U Street neighborhood are in between. Please don't be one of those newcomers who started calling the U St/14th St area Shaw. It's not.

False. 14th to 11th south of S and north of Mass is Logan Circle. Shaw is 11th to 6th south of Florida. North of Mt Vernon Sq / triangle (which is starts at N street or so and ends in china town / downtown)

Not a newcomer. Born and raised in DC.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I've been in real estate for 20 years. From my experience, the 💯🏆🔝😍 locations are still relatively strong. On the other hand, the 🗑️💩🪠🤮🦨 locations are having a tough time in DC proper. People don't want bad schools, the irony of having poor walkability while living in the city, and living near public housing.

I think we are in the midst of a repricing of assets. Gone are the days where people are buying into the dream that Petworth or Edgewood will become the next Logan Circle in short order.

I lived in Shaw in 1991. That's what people said then.

Shaw is next to Logan Circle, one neighborhood over from Dupont, and borders on Downtown DC.

And it was terrifying back then.

[Anonymous]

Anonymous wrote:So many ?????s OP. Are you 12?
The answer is that the price is too high for the current market in your micromarket.


You sound like the 12 year old with your response.

There have been very juvenile comments on multiple threads. Bringing down the DCUM experience.

[Anonymous]

You need to get out of your mommy bubble. Most people in DC who buy houses don’t care about the schools. In fact, most people who live in DC don’t have children.

Saying you don't care about the schools is like saying you don't care about metro access, crime, or walkable neighborhood amenities, i.e. you don't care about the potential for your house to appreciate. If you own a 3 bedroom townhouse, parents or potential parents of young children are a significant chuck of your potential buyers down the road.

[Anonymous]

Anonymous wrote:

You need to get out of your mommy bubble. Most people in DC who buy houses don’t care about the schools. In fact, most people who live in DC don’t have children.

Saying you don't care about the schools is like saying you don't care about metro access, crime, or walkable neighborhood amenities, i.e. you don't care about the potential for your house to appreciate. If you own a 3 bedroom townhouse, parents or potential parents of young children are a significant chuck of your potential buyers down the road.

The neighborhood schools are not so important if you get into a good charter or can afford private.

We are in NE and easy commute to many of the popular immersion charters. If you get into one of those, your options are not limited to the neighborhood school. You can live in many neighborhoods with not good schools that is easily commutable to the charter. Plus you have a good shot at good middle/high school path at DCI.

Tons of UMC families at our charter - lawyers, medical, business, etc…who like being closer to downtown then WOTP.

We can afford privates too if we wanted to go that route and there are many families like us.

There is a good contingent of UMC families EOTP scattered across neighborhoods where neighborhood schools don’t matter. Many of these families are in the immersion charters.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

You need to get out of your mommy bubble. Most people in DC who buy houses don’t care about the schools. In fact, most people who live in DC don’t have children.

Saying you don't care about the schools is like saying you don't care about metro access, crime, or walkable neighborhood amenities, i.e. you don't care about the potential for your house to appreciate. If you own a 3 bedroom townhouse, parents or potential parents of young children are a significant chuck of your potential buyers down the road.

The neighborhood schools are not so important if you get into a good charter or can afford private.

We are in NE and easy commute to many of the popular immersion charters. If you get into one of those, your options are not limited to the neighborhood school. You can live in many neighborhoods with not good schools that is easily commutable to the charter. Plus you have a good shot at good middle/high school path at DCI.

Tons of UMC families at our charter - lawyers, medical, business, etc…who like being closer to downtown then WOTP.

We can afford privates too if we wanted to go that route and there are many families like us.

There is a good contingent of UMC families EOTP scattered across neighborhoods where neighborhood schools don’t matter. Many of these families are in the immersion charters.

The time of people spending high six figures to live in marginal DC neighborhoods based entirely on the *hope* that they'll get a good lottery number are over.

[Anonymous]

I am an UMC in Anacostia neighborhood and we send our kid to a charter school. EOTP has higher income than people expect and prices are going up.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I've been in real estate for 20 years. From my experience, the 💯🏆🔝😍 locations are still relatively strong. On the other hand, the 🗑️💩🪠🤮🦨 locations are having a tough time in DC proper. People don't want bad schools, the irony of having poor walkability while living in the city, and living near public housing.

I think we are in the midst of a repricing of assets. Gone are the days where people are buying into the dream that Petworth or Edgewood will become the next Logan Circle in short order.

I lived in Shaw in 1991. That's what people said then.

Shaw is next to Logan Circle, one neighborhood over from Dupont, and borders on Downtown DC.

Not quite. Logan Circle and the U Street neighborhood are in between. Please don't be one of those newcomers who started calling the U St/14th St area Shaw. It's not.

False. 14th to 11th south of S and north of Mass is Logan Circle. Shaw is 11th to 6th south of Florida. North of Mt Vernon Sq / triangle (which is starts at N street or so and ends in china town / downtown)

Not a newcomer. Born and raised in DC.

If what you're saying is true, then Logan would be in between Dupont and Shaw. The U ST Historic District (also part of Old City II) is north of Logan, and also borders Shaw.

[Anonymous]

Anonymous wrote:

Anonymous wrote:This is not a great time to list. But, that said, the problem is your price.

No the problem is DC crime.
Who wants to live in that?!

The person who paid 1.2million for a detached house in NE DC two months ago. Now PP you should pay attention to your own backyard in Stafford.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I've been in real estate for 20 years. From my experience, the 💯🏆🔝😍 locations are still relatively strong. On the other hand, the 🗑️💩🪠🤮🦨 locations are having a tough time in DC proper. People don't want bad schools, the irony of having poor walkability while living in the city, and living near public housing.

I think we are in the midst of a repricing of assets. Gone are the days where people are buying into the dream that Petworth or Edgewood will become the next Logan Circle in short order.

I lived in Shaw in 1991. That's what people said then.

Shaw is next to Logan Circle, one neighborhood over from Dupont, and borders on Downtown DC.

Not quite. Logan Circle and the U Street neighborhood are in between. Please don't be one of those newcomers who started calling the U St/14th St area Shaw. It's not.

False. 14th to 11th south of S and north of Mass is Logan Circle. Shaw is 11th to 6th south of Florida. North of Mt Vernon Sq / triangle (which is starts at N street or so and ends in china town / downtown)

Not a newcomer. Born and raised in DC.

If what you're saying is true, then Logan would be in between Dupont and Shaw. The U ST Historic District (also part of Old City II) is north of Logan, and also borders Shaw.

Yes, that's all true. Logan is between Dupont and Shaw. And yes U St spans all three (Dupont, Logan, Shaw) north of S and south of a couple blocks north of U.

[Anonymous]

I wouldn't say U street is a neighborhood.

[Anonymous]

DC usually has a boom in sales activity the year after presidential elections. We will see if it is true in 2025.

[Anonymous]

Anonymous wrote:DC usually has a boom in sales activity the year after presidential elections. We will see if it is true in 2025.

Do you have any historical data to prove this assertion?

[Anonymous]

Anonymous wrote:Is it just DC? I have had my home on the market for 3 months. A few showings but no contracts. Row house - $875,000, then dropped to $850,000. Considering dropping to $825,000. Price isn't always a factor - it just seems like no one is buying. My agent told me to wait after the election, now wait after the new year. Wait until Spring? Is anyone else just waiting in DC????

This is a you problem.