Explain why my neighbor’s house can’t sell

[Anonymous]

As per subject, I live a few houses down on the other side of Philadelphia, and have watched this house go onto the market and not sell twice in the past year:

https://www.redfin.com/MD/Silver-Spring/820-Philadelphia-Ave-20910/home/10953991?2093706699=control&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=copy_link


Of course, people do not like the busy street. Noted. But it seems like it’s already appropriately discounted for that given neighboring recent sales?

So I’m curious for your thoughts, especially from anyone who might have looked at the house. Basically, we aren’t looking at selling our place any time soon, but whenever we have a convo about what it’s worth, it ends with “but why can’t the yellow house sell???” Slightly related, I’m increasingly annoyed at the state’s tax valuation of my house, given what this place isn’t selling for, and thinking about how we might better contest the valuation the next time it’s re-assessed.

[Anonymous]

There's not as many buyers right now compared to spring. Even at a lower price, I found that homes on major roads do not sell as well unless in a big seller's market.

[Anonymous]

Just spit balling here but the back yard seems small and I am going to guess that many families are not interested in two bedrooms in the basement. I would think of it as a 3 bedroom house, not a 5 bedroom house. I understand that there are 5 bedrooms but the location of two of the bedrooms are sup optimal. A third bedroom seems to be pretty small. It is a drive way and not a garage.

[Anonymous]

Is the washer/dryer in the living room?! Strike one
A tiny kitchen in the basement but no external entry for an apartment? And a sauna I’d never use. Plus very chopped up basement. Strike two
Don’t love (or even really like) the kitchen or bathrooms. Strike 3

And a tiny yard to boot.

[Anonymous]

I live just a few blocks from there, so please take this as a view from a neighbor rather than some snob from another part of the county.

The immediate nextdoor neighbor to "the yellow house" has a junkyard in his front yard, and the only Trump sign I've ever seen in the neighborhood. I'm assuming the back yard is just as bad.

Not only is this on Philadelphia, it's basically at the intersection with Fenton. That's two extremely busy streets.

Across the street is a group house with a lot of folks coming in and going, and a house that was condemned and sold at auction.

It doesn't matter how nice the house is, as someone who already lives in the neighborhood and loves it, I'm not paying the better part of $1m to have that kind of traffic, risk, and neighbors.

[Anonymous]

I think it’s the ceilings. A lot of the living space is in the basement, which is finished nicely but you can see the ceilings are very low. I’m guessing it feels very claustrophobic in person. The upstairs has similar issues with the sloped ceiling but at least the tallest parts appear to be normal height.

[Anonymous]

Anonymous wrote:I live just a few blocks from there, so please take this as a view from a neighbor rather than some snob from another part of the county.

The immediate nextdoor neighbor to "the yellow house" has a junkyard in his front yard, and the only Trump sign I've ever seen in the neighborhood. I'm assuming the back yard is just as bad.

Not only is this on Philadelphia, it's basically at the intersection with Fenton. That's two extremely busy streets.

Across the street is a group house with a lot of folks coming in and going, and a house that was condemned and sold at auction.

It doesn't matter how nice the house is, as someone who already lives in the neighborhood and loves it, I'm not paying the better part of $1m to have that kind of traffic, risk, and neighbors.

Former 20910 resident here. +1. The street is near that incredibly busy "triangle" intersection. The front yard is Philadelphia, the backyard is essentially Fenton.

The houses around it...the junkyard and the Trump sign (oddly I see as a positive...a little bit of political diversity isn't so terrible)...I wouldn't mind as much. Neighbhors change, especially if they might be renters. But you can never change those busy streets.

[Anonymous]

OP here - I appreciate the comments! It’s a good reminder that several of things that aren’t big issues for us (the condition of neighboring houses, the split of bedrooms between upstairs and basement) are bigger flags for other people.

The more I reflect on it, the more I think that the biggest factor might be the number of people looking at this price point in this neighborhood. I think a lot of people are looking at 20910 hoping to find a SFH under $750k or so, and fewer are looking here with budgets of $850k+, or if they have that budget they can get something they like without some of the downsides of this house.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I live just a few blocks from there, so please take this as a view from a neighbor rather than some snob from another part of the county.

The immediate nextdoor neighbor to "the yellow house" has a junkyard in his front yard, and the only Trump sign I've ever seen in the neighborhood. I'm assuming the back yard is just as bad.

Not only is this on Philadelphia, it's basically at the intersection with Fenton. That's two extremely busy streets.

Across the street is a group house with a lot of folks coming in and going, and a house that was condemned and sold at auction.

It doesn't matter how nice the house is, as someone who already lives in the neighborhood and loves it, I'm not paying the better part of $1m to have that kind of traffic, risk, and neighbors.

Former 20910 resident here. +1. The street is near that incredibly busy "triangle" intersection. The front yard is Philadelphia, the backyard is essentially Fenton.

The houses around it...the junkyard and the Trump sign (oddly I see as a positive...a little bit of political diversity isn't so terrible)...I wouldn't mind as much. Neighbhors change, especially if they might be renters. But you can never change those busy streets.

Okay, the Trump sign comment was maybe not me at my best, but the rest is true. The next door neighbors (not renters) have a junk yard in the front, and then the house right at the corner is maybe abandoned and definitely overgrown if not abandoned.

I love the neighborhood in general, and would happily live on Islington or another street that is close to Fenton. But the house you are asking about is on an intersection, surrounded by run-down and abandoned homes, and they are still asking $100K over what they bought it for three years ago.

[Anonymous]

Anonymous wrote:OP here - I appreciate the comments! It’s a good reminder that several of things that aren’t big issues for us (the condition of neighboring houses, the split of bedrooms between upstairs and basement) are bigger flags for other people.

The more I reflect on it, the more I think that the biggest factor might be the number of people looking at this price point in this neighborhood. I think a lot of people are looking at 20910 hoping to find a SFH under $750k or so, and fewer are looking here with budgets of $850k+, or if they have that budget they can get something they like without some of the downsides of this house.

I think you've got something there. All the issues add up to this: much nicer-looking houses on less busy streets in Silver Spring have sold for less.

The house's interior is deeply unappealing to my tastes, but that's just me.

[Anonymous]

If a house doesn't sell, it's over priced. There's nothing else to it.

[Anonymous]

Small back yard. I guessed the price was $699k before looking at the real price. I was way off.

[Anonymous]

Anonymous wrote:If a house doesn't sell, it's over priced. There's nothing else to it.

+1 . In the end, the house is priced too high for the market.

[Anonymous]

Like others have said. Price.

Busy road is a gigantic negative. It'd probably have to go for $100-200k lower before I'd even whiff at living on a major road like that.

For many people, there is simply no price low enough that they'd ever buy on a busy road.

[Anonymous]

In addition to the other issues (location, price), the layout of the main floor is terrible, and they staged it poorly to boot. It's very awkward to walk right into the dining room. They should've put the dining table in the too-big family room with the family room furniture, and set the living room up like a living room. It's not a family-friendly layout at all and the way it's staged it's particularly terrible.