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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Cheap and getting cheaper every week. What’s wrong with it?

https://www.redfin.com/DC/Washington/1226-Wylie-St-NE-20002/home/9909819[/quote]

It opens right onto the very narrow sidewalk. Too many randos walking across your doorstep all day and night. That paltry little tree will become problematic as it grows. I also wonder if there's some weird ownership / estate / transfer issue going on with it being listed for sale immediately after a first sale. Other than that, it looks like a cute condo alternative that would require minimal maintenance (no yard, etc). [/quote]

Sale history on this one is weird? According to Redfin, it sold on October 1st for 570k. Of this year. And then was listed 13 days later for 610k? Is this a recordation error or did someone have a serious case of buyers remorse? If they are really trying to unload it this quickly, then that explains both the markup (they are trying to recoup their closing costs) and why it's sitting (no way would I pay 20-40k over what a house had sold for just a month or two prior).

Seems like a situation where your best option is to lease it out for a few years and then re-list. Even if rent doesn't cover your mortgage, you stand a much better chance of recovering your costs and maybe even turning a small profit if you lease it. And you can get around the issue of having to evict a tenant before selling by moving in yourself for a few months prior to selling. You can always evict a tenant to live in a SFH yourself, provided you follow rules for notice and are a decent landlord.

But this is the fastest turnaround I've seen on a resale, which is saying a lot in this neighborhood which has a lot of surprisingly quick resales due to the naturally transient nature of a lot of DC residents.[/quote]

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