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Reply to "Capitol Hill State of the Market?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Was thinking that maybe some sub-$2m houses west of 8th Street SE/north of the freeway would hit the market this week (post-Easter), but nada. [/quote] If we're spending your $2m monopoly money budget in the "close in Hill" I'm a huge fan of two options: 1) 103 6th St NE - 3 bed, 3.5 BA but easily convert the upstairs loft for a 3 upstairs/1br downstairs split. Tomorrow's open should be busy - the light looks really really lovely here (https://www.redfin.com/DC/Washington/103-6th-St-NE-20002/home/9899593) 2) 922 S. Carolina SE (3 bed, 1.5 BA) - one of my favorite houses to sell in the last few years. I'd offer $1.5m because I'm surprised it's still sitting (probably ambitious for them to expect a 200k appreciation in 18 months given how bad the bathroom reno was) (https://www.redfin.com/DC/Washington/922-S-Carolina-Ave-SE-20003/home/9905201#property-history)[/quote] Yes, though when I said "sub $2m" I meant more like "sub $1.5m" -- it's just that in the area west of 8th Street SE (I'm not looking at NE) houses list for $1m-$1.2m and are gone instantaneously. [/quote] Sub 1.5 million and sub 2 million are totally different things.[/quote] Sub $1.5m but really $1-1.2m is an entirely different thing after that! Let's assume that you're a typical DCUMer looking for a 3BR+ home. For reference, there were 9 properties sold in the last 12 months that would meet your specs (3BR, in between 695 and East Capitol, between 1st and 8th). - 2 multi-family properties (134 F St SE, 114 6th St SE) - 2 "big projects" (e.g., 629 S. Carolina, $1.1m for a complete gut job; 105 8th St SE, which you may or may not like) That leaves 5 properties that may or may not meet your needs. The myth of the million dollar "ish" family home on the Hill does not reflect the realities of the housing market for the last 3 years. [/quote]
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