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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]A bunch of homes that didn't sell over the summer have been relisted with lower prices. Also looks like contracts fell through on these two. I think the recent flipper listings in the $1M range have missed the boat -- prices finally seem to be coming back to earth in this neighborhood.

https://www.redfin.com/DC/Washington/808-I-St-NE-20002/home/9902295

https://www.redfin.com/DC/Washington/933-8th-St-NE-20002/home/9902280[/quote]

What am I missing about the 8th Street house? It's teeny tiny, yeah, but that seems like a pretty good price for a condo alternative in that neighborhood.[/quote]

Agree. Adorable and a couple blocks from Union Market. I’d happily live there if I didn’t have two kids and a husband. [/quote]

Location. That strip of 8th is loud as hell, and this specific house has a bus stop right in front of it. There's not much yard, so you basically have people hanging out directly in front of your house all day, every day, plus every bus up and down 8th street is pumping those air breaks 15 feet from your living room six times an hour.

This is why there is always so much real estate activity on 8th street, especially between H and K NE. Lots of cute houses, and the proximity to H is great, but actually living there is pretty irritating. Whenever I see a listing on this strip of 8th, I check the history. Many of them only sold a couple years earlier. There's a reason for the turnover.

That said, it's still benefitting from the price increases in the neighborhood and will likely go for well over 500k (they bought for 460k in 2016).

Like check out this one closer to H:

https://www.redfin.com/DC/Washington/814-8th-St-NE-20002/home/9901072

It last sold in 2018 for 850k. They've had to list it at least three times since then (it was on the market in 2019, then again this summer, then pulled and went up again in October). But now it's pending, with a list of 1.09m. Even if it goes for under 1m, that's still an amazing mark up over two years, despite the fact that they obviously could not deal with the location for long. These houses are harder to sell, but they are still getting the price bump.[/quote]

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