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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Let’s play “Why aren’t these homes selling” All north of H and under $1 million.

1. https://www.redfin.com/DC/Washington/905-K-St-NE-20002/home/9903999

2. https://www.redfin.com/DC/Washington/241-K-St-NE-20002/home/9890845

3. https://www.redfin.com/DC/Washington/1316-I-St-NE-20002/home/9912374

4. https://www.redfin.com/DC/Washington/921-L-St-NE-20002/home/9903904

5. https://www.redfin.com/DC/Washington/914-Kent-Pl-NE-20002/home/9903862

For 1 property I have my suspicions as to why it’s struggled to sell, but a few seem like good bargains for the area.

[/quote]

Updating these
#1 - listing pulled
#2 - still for sale with $50K price decrease
#3 - still for sale
#4 - now for rent
#5 - sold for $105K under listing price

The last listing appeared to be longtime owners who I presume just wanted to sell quickly and were not as concerned with maximizing their profit. There are still quite a few homeowners in this situation in the city. It will be interesting to see what kind of impact they have on prices over the next year.[/quote]

241 K is a beautiful home, really well done. But being next to the Indian restaurant is a liability. Having the restaurant in the neighborhood, great for the property values of the surrounding blocks. Sharing a wall, not so much. [b]Plus, the future land use plan for that block is for all of the houses to be torn down and converted into mixed-use developments. You don't want to be the last person holding out while the developers swoop in and destroy the community around you.[/b][/quote]

Call me crazy, but it seems like this could be a plus and makes the property more appealing? I would not want the house next to the restaurant with the noisy patio either BUT if I could by it in that location for less than 800k with the expectation that developers are going to swoop in and buy me out within the next 5-10 years, maybe it's worth it? Large scale developers often pay above market because it's the only way to get people to give up their homes, and their profit margins on large projects can absorb those costs. [/quote]

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