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

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[quote=Anonymous][quote]

Thought it was time to revisit this discussion. 8th Street house sold last year. 719 L still on market.

[quote]Ok, this is interesting. Both houses went contingent shortly after original listing, but those sales fell through and they came back on the market. When I saw that happened with the 8th and K house, I did kind of wonder of the original buyer got cold feet about the location. They house is very cute the way it's staged and the reno is decent, and I can easily see someone getting excited about the price and then realizing upon their 3rd visit to the property that the location is a problem.

But hey, they sold it, so obviously it's not impossible. Given that they bought for $460k (already renovated) in 2016. Not a massive return after closing costs but actually better than anyone has a right to expect on a house you owned for 4 years.

I remain curious about L Street. [b]I think that location also has problems[/b], but that there is so much more opportunity there with the bigger house and the chance to renovate it yourself. It's probably just still overpriced because it needs quite a bit of work. If it were in worse shape it would be a great opportunity for a developer who wanted to do a condo conversion (if they could get it for closer to 600). But it's in that gray area where it's livable but most people who can afford 700k purchase price are going to want a much more updated house. So it might sit for a bit.[/quote]

Say more?[/quote]

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