Reply to Housing prices falling ? U ST NW house

Forum Index » Real Estate

Reply to "Housing prices falling ? U ST NW house "

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]The house next door is nicer, more expensive and is also sitting

https://redf.in/e3PD7g[/quote]

It really is a case study of a neighborhood having a price ceiling. U Street is rowdy and loud. You can sell that atmosphere to some younger singles and couples, but I can’t think of one family or even childfree age 35+ couple who—if they had a budget of $1.5-2 million for a 3-4 BR DC rowhouse—would choose U Street over the many other neighborhoods.

That neighborhood is better suited for rowhouses split up into 2 or 3 $500-650k condos, but they’re priced too high to make these condo conversions viable.[/quote]

Exactly. The size of the buyer pool for this house -- younger singles or couples who both could afford this place and don't mind living so close to U Street -- is infinitesimally small. Throw in a poorly designed interior and you have a house that needs further price reductions.[/quote]

I had friends who lived on U street before it gentrified and I loved their place. We were artsy 20 somethings fresh out of college and we loved the U street vibe. It was edgy small clubs, music venues, lounges and small hole in the wall restaurants all full of young 20 somethings, either still in college or fresh out of college/grad. Yes some blocks were a bit rundown, but it never felt dangerous, just edgy and it worked. That was it's hey day. This was 30+ years ago.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics