Reply to Why isn’t this house in H street corridor selling?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]It’s the price combined with the location. People who can plonk $1.3 mil on a house don’t want to deal with the stuff on that block. It’s right on H street, and 8th is also a central bus route. Lots of folks hanging out on those corners, lots of smoking, lots of litter. It’s normal city stuff, and if this were a big condo building I don’t think people would blink. But the sorts of folks who are in the market for a row house like this, and can afford it, don’t like the idea of having their front door across the street from where a bunch of kids chill with their bikes every afternoon.

It’s racist, but it’s true. They just overshot with the renovation and price. If they had kept it in the 800-900 range, there are lots of UMC buyers in DC who would jump at it and not care as much about the location. Rich people can afford to live in places where they don’t have to look at or think about anything they find unpleasant[/quote]

You have to be kidding me.

I live near Wilson High and I have teens with bikes hanging out nearby all of the time. Sometimes they even commit actual crimes. And there are a lot of popular $1.3 mil homes nearby including mine.

Sometimes there isn't a logical explanation and you have to go see it yourself. There is a lot of new development going on in that neighborhood, so you won't see the "bad neighborhood" discount any more. The new development is priced in.[/quote]

That's great, but the fact is the house is sitting in a market with almost zero inventory and historically low rates. [/quote]

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