Reply to Explain why my neighbor’s house can’t sell

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[quote=Anonymous][quote=Anonymous]It near a large abandoned building know for issues, the largest homeless shelter in MoCo, train tracks and auto yards, the 13th grade aka Montgomery college and it’s parking issues, it’s near the greyhound bus terminal and it’s indigents not to mention on busy roads. It isn’t a 900k type of house despite what the owner thinks  [/quote]

I'm a DP and live within blocks of those house, and the above is just ridiculous insecure snobbery to be ignored. The above applies to literally all of east silver spring/north Takoma park so we know they just have a problem with our neighborhood (where houses regularly sell from $700k-1m). 13th grade, indeed.

Anyway, I have also wondered this and I basically agree with other posters.

I think the bottom line is that a 5BR/3.5BA even in that exact location is absolutely worth $800k+ (it would be more on a quieter street!) But people who want or need that space probably have multiple kids and are not going to be happy with, in descending order: the complete lack of backyard, the weird layout, and the supposedly rentable basement that has no direct entrance. I also agree that it's at a weird price point to have literally anything unacceptable about it. Especially if you can't rent out the basement easily. It might be great for a truly multigenerational family, but those folks in SS/TP don't usually have this kind of money.

But the REAL!!! problem is that the owners bought it just 3 years ago for $796k. So they are being stubborn about the fact they're going to have to take a loss on this. [/quote]

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