Anonymous wrote:For anyone familiar with this Alexandria location, doesn't this house seem overpriced? What am I missing?

http://www.redfin.com/VA/Alexandria/7116-Park-Terrace-Dr-22307/home/9796156

Just so you know, that's in the Fairfax County section of Alexandria. Most people generally associate "Alexandria City" when they hear Alexandria mentioned in terms of real estate.

I think if there was paint on the walls, different window treatments and a few newer light fixtures, you may not think it's overpriced. That house (from what I can tell in the photos) seems to have nice bones and is a great blank slate for someone who can see what it can be. I don't think it would take all that much more money either.

Great build quality. The house was built by gene may---- he built evermay in McLean and was known for building houses that never fall apart. It would take almost a year and a half to finish one of his houses bc they were built with brick and block. 900k is a steal for any gene may house.

belleview is not that great and the rest if even poorer

Most affluent people in this area do private

Anonymous wrote:PP here. I guess I should not attribute it all to the realtor. I think because the hood is so well established, the residents are not desperate to sell when they do list. They seem older, so I assume no mortgage, minimal carrying costs, etc. they can price accordingly (yes, I bid and did not get the house.)

Are there any kids in this neighborhood?

Check the comps for this street. They are all in this range.

Anonymous wrote:

Anonymous wrote:Way overpriced. Ugly and bad schools.

Huh? Belle View is a good school.

Yes, it is but your child will not be eternally in elementary school will they? Of course, none of this matters if you can pay for private but the house is definitely outdated.

PP here. I guess I should not attribute it all to the realtor. I think because the hood is so well established, the residents are not desperate to sell when they do list. They seem older, so I assume no mortgage, minimal carrying costs, etc. they can price accordingly (yes, I bid and did not get the house.)

It's a nice, well established neighborhood with big lots and many views of the river. That said, the realtor has a monopoly on the neighborhood and lives there herself. She works to keep the prices high. I.e., a house will sit on the market for awhile before the price is lowered. I've seen some sellers there put in a lot of work before listing (thus raising the neighborhood comps).

It's a cute house, but I wouldn't pay 900k for it.

Anonymous wrote:Way overpriced. Ugly and bad schools.

Huh? Belle View is a good school.

Def over priced. Bad schools and outdated.

Way overpriced. Ugly and bad schools.

Nope. Houses on that street sell in that range.

For anyone familiar with this Alexandria location, doesn't this house seem overpriced? What am I missing?

http://www.redfin.com/VA/Alexandria/7116-Park-Terrace-Dr-22307/home/9796156