Reply to Do you think the Pimmit Hills area will eventually become upscale?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I love new houses, but the ones they're building in PH are seriously awful. And the remodels are even worse. We toured so many that were frankenstein houses. Garages that didn't connect inside the house (had to walk around even though they were physically connected). [/quote]

Can you point out some of the new ones that are awful? I am very familiar with all of the newer homes in the area and they all seem to be your standard spec builder. As for the remodels there are some pretty bad ones but those aren't really on the market and are usually marketed as teardown.[/quote]

DP here.  Don't know what the finished product looks like but the marketing of this house, which is at the absolute high end of the PH market, is atrocious.

http://frankly.com/FX8467784

On the other hand, I think this house looks fine, but it's an example of a PH house priced over a million that just sits on the market for months.

http://frankly.com/FX8450441[/quote]
The second house is overpriced, that's why it's been sitting.

The first house is too eccentric to sell quickly.  I drive past it every morning and I was shocked to learn it was a house built to sell. From the look and the layout, I assumed it was someone building a house for themselves because the style of that house is too unique for the market, certainly for the PH market.  That house would have taken a long time to sell even in Arlington or McLean, simply because this style is preferred by a minority of buyers. [/quote]

It's hard to say what's "unique" for PH, because it's whatever the buyer of a teardown wants to put up.  There are houses built in the last few years in PH that look Colonials built in Ashburn in 1995 or Craftsmans built in Arlington in 2010.  There are contemporary homes in Arlington or McLean that have sold for over a million in less than a month, so it's not only the style that is an issue.  It's also price and, perhaps, construction quality (hard to say since it's been marketed unfinished).  [/quote]
I think it's pretty self-evident that contemporary houses are less popular in this area and move a lot slower. There is a comparable size house next door to the one you posted that was listed for over a million, and went very quickly.  It's a fairly conventional Craftsman. [/quote]

I'm not seeing anything near the 2109 Pimmit "contemporary" that sold recently for over a million.   I see a more conventional house a few blocks away that sold for slightly over $900 in early 2014.

On the other hand, there are contemporary homes in Arlington and McLean that have sold quickly for over a million in recent years.   2111 Rolfe in Arlington sold for $1.24 million in 15 days.  1933 Birch in McLean sold for $1.35 million in 13 days.

A PH contemporary listed for over a million may be at a disadvantage for being a contemporary, but it's also at a disadvantage for being listed for over a million in that neighborhood. [/quote]

Those are older homes and different a market. 2015 will be interesting but there are going to be a lot of new homes which will push up the price over a million, but just slightly.

[/quote]

There might be supply-induced demand, if people think the volume of more expensive new homes reflects a turning point in the neighborhood, or you could just end up with a glut of new homes that don't sell or only sell at discounts.  [/quote]

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