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

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[quote=Anonymous][quote=Anonymous]Do you think this house's $2.15m price will come down? Three levels, good location, on the market for 2+ weeks.

https://www.redfin.com/DC/Washington/614-E-St-NE-20002/home/9898914[/quote]

Made me think of this one on 8th just north of H, listed at $2.85m:

https://www.redfin.com/DC/Washington/816-8th-St-NE-20002/home/9901071

My jaw dropped a bit when I saw the 8th street house because that price on that block is eye-popping. The house is really amazing inside, and big, so I get the price a bit more, but the location... it's just hard to reconcile in my head because when I think about who would buy a house like that, and then what they might think of some of the stuff that happens at 8th and H... I'm struggling to think of who the prospective buyer is.

But it looks more justifiable next to the E Street house, since 8th Street is bigger and it looks like the finishes are higher end. I do think the price on both will come down, perhaps significantly so, and I expect them both to sit for quite some time to find a buyer (though that's not unusual for houses in that range because the pool of potential buyers at that price point is much smaller). But if the 8th Street house goes for over 2m, I'll eat my house. It's just incredibly hard to imagine as a longtime resident of this neighborhood. I don't know what to make of it.[/quote]

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