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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]New on Emerald Street!
https://www.redfin.com/DC/Washington/1335-Emerald-St-NE-20002/home/9912879

And does location location location trump the fact that this is almost $700k for a one-bedroom condo with a rather lackluster interior?
https://www.redfin.com/DC/Washington/101-2nd-St-NE-20002/unit-3/home/9891708[/quote]

How on earth is this still on the market?[/quote]

I bet they've had offers under asking and are holding out. Looking through the pictures again, I'm suddenly remembering what it was like during house hunting when you'd come across a house like this. On paper it sounds great -- fixer upper but listed below what nearby houses are selling for so it feels like a deal. But as I click through the photos, I'm just thinking about how bad this house must show. No natural light, awful overhead lighting. Those huge appliances (including the washer/drayer) in the tiny kitchen. The carpet upstairs is depressing. Then you get the bathrooms and you just start thinking about exactly how much money, and time, it will take to make this place feel good. You tell yourself what a good investment it would be, you look at other places selling quickly, and you try to get excited about it. But you're not, so you offer under asking and see what happens.

But I still think it will sell, and probably not too long from now. The other thing that happens is that buyers sit on the market for a little while waiting for the "right" house. But then they see how fast stuff sells, and learn stuff from their realtor like "Well there were 17 offers and they are letting the top three make a second bid but your offer is 80k under that group." It is demoralizing. Someone is going to jump on this soon. They just have to get to that place of fear and desperation that pushes them to pull the trigger and finally offer asking.[/quote]

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