Housing prices falling ? U ST NW house

[Anonymous]

Anonymous wrote:Look at this one too https://redf.in/2Shcx5

Sold in 2020 for 1.7 million. Put back in the market in July 2024 for 1.85 mil. Removed in January. Put back in the market end of March at 1.45 mil and went under contract in 3 days.

It must have something to do with the area. I feel really bad for all those owners…

You clearly don’t know or understand the neighborhood. The link you posted is to a unit in a condo development that was built in 2013. It has a $600 a month condo fee. It’s not a 100+ year old rowhome. Condo sales are lagging all over the city and the suburbs as well. You’re comparing apples and oranges.

Generally speaking, prices in theU St./Logan area are stable. They’re not flying through the roof or anything but they’re not declining either.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Look at this one too https://redf.in/2Shcx5

Sold in 2020 for 1.7 million. Put back in the market in July 2024 for 1.85 mil. Removed in January. Put back in the market end of March at 1.45 mil and went under contract in 3 days.

It must have something to do with the area. I feel really bad for all those owners…

Generally speaking, prices in theU St./Logan area are stable. They’re not flying through the roof or anything but they’re not declining either.

I disagree. I wouldn’t lump “the U St/Logan area” into one group, even though they sit right next to each other.

Regarding rowhomes (not condos), Logan Circle is roughly stable price-wise right now, while U Street (the homes close enough to the clubs/bars/nightlife there) is struggling more with houses sitting for awhile and requiring price reductions.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Look at this one too https://redf.in/2Shcx5

Sold in 2020 for 1.7 million. Put back in the market in July 2024 for 1.85 mil. Removed in January. Put back in the market end of March at 1.45 mil and went under contract in 3 days.

It must have something to do with the area. I feel really bad for all those owners…

Generally speaking, prices in theU St./Logan area are stable. They’re not flying through the roof or anything but they’re not declining either.

I disagree. I wouldn’t lump “the U St/Logan area” into one group, even though they sit right next to each other.

Regarding rowhomes (not condos), Logan Circle is roughly stable price-wise right now, while U Street (the homes close enough to the clubs/bars/nightlife there) is struggling more with houses sitting for awhile and requiring price reductions.

Where do you live?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Look at this one too https://redf.in/2Shcx5

Sold in 2020 for 1.7 million. Put back in the market in July 2024 for 1.85 mil. Removed in January. Put back in the market end of March at 1.45 mil and went under contract in 3 days.

It must have something to do with the area. I feel really bad for all those owners…

Generally speaking, prices in theU St./Logan area are stable. They’re not flying through the roof or anything but they’re not declining either.

I disagree. I wouldn’t lump “the U St/Logan area” into one group, even though they sit right next to each other.

Regarding rowhomes (not condos), Logan Circle is roughly stable price-wise right now, while U Street (the homes close enough to the clubs/bars/nightlife there) is struggling more with houses sitting for awhile and requiring price reductions.

Where do you live?

Used to live two blocks from Logan Circle. Now live in Old Town, Alexandria. I’m in these DC neighborhoods usually 4 days a week. Why do you ask?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Look at this one too https://redf.in/2Shcx5

Sold in 2020 for 1.7 million. Put back in the market in July 2024 for 1.85 mil. Removed in January. Put back in the market end of March at 1.45 mil and went under contract in 3 days.

It must have something to do with the area. I feel really bad for all those owners…

Generally speaking, prices in theU St./Logan area are stable. They’re not flying through the roof or anything but they’re not declining either.

I disagree. I wouldn’t lump “the U St/Logan area” into one group, even though they sit right next to each other.

Regarding rowhomes (not condos), Logan Circle is roughly stable price-wise right now, while U Street (the homes close enough to the clubs/bars/nightlife there) is struggling more with houses sitting for awhile and requiring price reductions.

Where do you live?

Used to live two blocks from Logan Circle. Now live in Old Town, Alexandria. I’m in these DC neighborhoods usually 4 days a week. Why do you ask?

Yea, just as I thought. You don’t live here.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Look at this one too https://redf.in/2Shcx5

Sold in 2020 for 1.7 million. Put back in the market in July 2024 for 1.85 mil. Removed in January. Put back in the market end of March at 1.45 mil and went under contract in 3 days.

It must have something to do with the area. I feel really bad for all those owners…

Generally speaking, prices in theU St./Logan area are stable. They’re not flying through the roof or anything but they’re not declining either.

I disagree. I wouldn’t lump “the U St/Logan area” into one group, even though they sit right next to each other.

Regarding rowhomes (not condos), Logan Circle is roughly stable price-wise right now, while U Street (the homes close enough to the clubs/bars/nightlife there) is struggling more with houses sitting for awhile and requiring price reductions.

Where do you live?

Used to live two blocks from Logan Circle. Now live in Old Town, Alexandria. I’m in these DC neighborhoods usually 4 days a week. Why do you ask?

Yea, just as I thought. You don’t live here.

I grew up living in several NW neighborhoods, lived in Logan Circle as an adult until last year (moved 5 miles away) and still do business there 4x/week. Don’t gatekeep.

[Anonymous]

That is a tough block on 11th. It's too close to U St and there are retail establishments at the end of the block. Also, a protected bike lane is slated to go in both sides of 11th and residents may lose street parking like what has already happened further south on 1th between R & S.

[Anonymous]

How many multi millionaires want to live in a trashy bar area with dozens of buildings full of bums near by? Not many

How many Jonesy young urbanites with decent jobs and easy credit who can talk themselves into biting off a huge mortgage with the hopes of appreciation? A few but once easy credit and hopes of appreciation dry up it won’t be many of those either

[Anonymous]

Anonymous wrote:Bought in 2022 for $200,000 over current price … listed for 1.9 mil in Dec 2024 now listed at 1.650 … what’s happening ? https://www.zillow.com/homedetails/1911-11th-St-NW-Washington-DC-20001/119083902_zpid/?utm_campaign=iosappmessage&utm_medium=referral&utm_source=txtshare

My prediction of the final selling price = $1.49 million

[Anonymous]

Looks like it went Contingent on April 10, then back on the market a few days later.

Wonder why the first buyer backed out?

[Anonymous]

Anonymous wrote:Looks like it went Contingent on April 10, then back on the market a few days later.

Wonder why the first buyer backed out?

I'm going to guess the inspection revealed something bad, perhaps having to do with the lower level, photos of which are not included in the listing.

[Anonymous]

One thing I notice off the bat is that there's nowhere to put your stuff when you walk in--no landing zone, no closet, no room for a shoe rack, no space for a stroller. With little kids, you absolutely need this kind of space. Even adults do. I have no idea why, but contractors never seem to put any focus on the living that needs to be done in a space. I'm not willing to forgo something so simple when it will have such a big impact on my daily life.

And I agree the living space is less than ideal. If I'm paying that price at these interest rates, I need a house to entertain in.

[Anonymous]

So many doomers, but all the houses in my neighborhood that are priced correctly are selling for ask and some with multiple bids.

[Anonymous]

Anonymous wrote:One thing I notice off the bat is that there's nowhere to put your stuff when you walk in--no landing zone, no closet, no room for a shoe rack, no space for a stroller. With little kids, you absolutely need this kind of space. Even adults do. I have no idea why, but contractors never seem to put any focus on the living that needs to be done in a space. I'm not willing to forgo something so simple when it will have such a big impact on my daily life.

And I agree the living space is less than ideal. If I'm paying that price at these interest rates, I need a house to entertain in.

Neither of the secondary bedrooms upstairs have closets, either. What were they thinking?

[Anonymous]

The U Street / 14th St area gets so much hate on DCUM and it’s easy to understand why. This site is full of fuddy duddy strivers who are secretly way more conservative than they let on publicly, they’re obsessed with kids, and they’re afraid of schools and neighborhoods with brown people and, yes, a little spice and a little grit.

We love it here even though I’d agree that in the last year or two property values have flattened and may stay flat for a while. We’ve still made plenty of equity in the 15 years that we’ve lived here, and we didn’t buy a house here to make money in the first place.