Anonymous
04/08/2014 16:27
Subject: when new construction just sits and sits on the market...what is that a sign of?
16:23 here - the military road house is on a lot that sucks. They have an elevator, which is great, but damn, who wants to climb all those stairs in the front? Also, Military is perceived as a busy road. (and it is pretty busy during rush hour, though pretty quiet on weekends. I run there too.)
Anonymous
04/08/2014 16:23
Subject: Re:when new construction just sits and sits on the market...what is that a sign of?
The "it's always price" people drive me crazy. I feel like those posters probably wrote 5-word responses to essay questions in school and then got pissed when they didn't get credit. "it's always price" is an incomplete answer, and a lazy one. Show your work, people. Why is the price incorrect for that house? Too high compared to comps? Too high compared for the SF or the lot size or the builder quality? What WOULD be the correct price?
House #1 - (GM) - I live down the street from this - it is a high price for new construction in that particular location that isn't walkable to metro or much of anything, really. (good schools, though.) I'd look at whatever the new builds on Harrison St. across from Chestnut Hills park sold for, and add a bit because George Mason at that point is not as busy of a street as Harrison between Lee and Little Falls. (GM is not really a main road once you get North of 29, and certainly not North of Williamsburg, though the corner of GM/Wburg is a busier corner than some.)
House #2 - (Vernon) - not crazy about the location of this one - it's too close to Glebe, Old Dominion and Lee. You lose some of the neighborhood feel when you're this close to major streets. Also, you're only walkable to the Lee Heights shops, though there's some fun stuff there.
House #3 - (JM) - John Marshall is a bit of a cut-through street between Williamsburg and Lee and points South of Lee (I run in this area). People hesitate to buy on streets perceived as busy streets or commuter roads. The neighborhood is nice, though.
At this price point, some people want to be walkable to Metro, some people will want a bigger lot (bigger than 0.25 acres) and some people will want a really great neighborhood feel a few blocks away from busy roads. At this price point, buyers can choose to be picky, and developers need to realize that and not just build anywhere they can find a tear-down lot.
There's a new build going up next door to me and I suspect it will sit on the market for awhile because it looks hideously ugly in the architect's drawing.
House #1 - (GM) - I live down the street from this - it is a high price for new construction in that particular location that isn't walkable to metro or much of anything, really. (good schools, though.) I'd look at whatever the new builds on Harrison St. across from Chestnut Hills park sold for, and add a bit because George Mason at that point is not as busy of a street as Harrison between Lee and Little Falls. (GM is not really a main road once you get North of 29, and certainly not North of Williamsburg, though the corner of GM/Wburg is a busier corner than some.)
House #2 - (Vernon) - not crazy about the location of this one - it's too close to Glebe, Old Dominion and Lee. You lose some of the neighborhood feel when you're this close to major streets. Also, you're only walkable to the Lee Heights shops, though there's some fun stuff there.
House #3 - (JM) - John Marshall is a bit of a cut-through street between Williamsburg and Lee and points South of Lee (I run in this area). People hesitate to buy on streets perceived as busy streets or commuter roads. The neighborhood is nice, though.
At this price point, some people want to be walkable to Metro, some people will want a bigger lot (bigger than 0.25 acres) and some people will want a really great neighborhood feel a few blocks away from busy roads. At this price point, buyers can choose to be picky, and developers need to realize that and not just build anywhere they can find a tear-down lot.
There's a new build going up next door to me and I suspect it will sit on the market for awhile because it looks hideously ugly in the architect's drawing.
Anonymous
04/08/2014 16:05
Subject: when new construction just sits and sits on the market...what is that a sign of?
At least one if them isn't even finished yet. Another is on a main road.
Anonymous
04/08/2014 14:58
Subject: when new construction just sits and sits on the market...what is that a sign of?
They should advertise to the outdoorsy folk.
Can you imagine a zipline on there?!
Can you imagine a zipline on there?!
Anonymous
04/08/2014 14:50
Subject: when new construction just sits and sits on the market...what is that a sign of?
The realtor was even considerate enough to provide winter pics!
Anonymous
04/08/2014 14:49
Subject: when new construction just sits and sits on the market...what is that a sign of?
the driveway is actually the blue sqaure. The black diamond is the stripe of grass on the left of the house. That one terminates in a shear drop off to the sidewalk below.
Anonymous
04/08/2014 14:41
Subject: when new construction just sits and sits on the market...what is that a sign of?
Anonymous wrote:http://www.redfin.com/VA/Arlington/3710-Military-Rd-22207/home/45439423
I call this on the ski slope house
Brilliant! A ski lift would definitely help out with this property. Also, put some rock climbing walls on the front yard for four-season fun.
Anonymous
04/08/2014 14:37
Subject: when new construction just sits and sits on the market...what is that a sign of?
http://www.redfin.com/VA/Arlington/3710-Military-Rd-22207/home/45439423
I call this on the ski slope house
I call this on the ski slope house
Anonymous
04/08/2014 14:30
Subject: Re:when new construction just sits and sits on the market...what is that a sign of?
Sometimes it's just a matter of waiting for the right buyer.
Anonymous
04/08/2014 14:29
Subject: when new construction just sits and sits on the market...what is that a sign of?
I think some sit until almost finished.
One of those is on a busier street.
They are in a higher price range that sits longer.
One of those is on a busier street.
They are in a higher price range that sits longer.
Anonymous
04/08/2014 12:54
Subject: when new construction just sits and sits on the market...what is that a sign of?
Have these houses actually been built yet?
Anonymous
04/08/2014 12:21
Subject: when new construction just sits and sits on the market...what is that a sign of?
spec homes probalby in the middle of being built- some of those roads are pretty busy and if the builder hasd a buyer it won't close until the house is built.
a few of those tyoes ar ein our neighborhood and once the house is done it closes.
a few of those tyoes ar ein our neighborhood and once the house is done it closes.
Anonymous
04/08/2014 12:19
Subject: when new construction just sits and sits on the market...what is that a sign of?
Way too expensive.
Anonymous
04/08/2014 12:18
Subject: when new construction just sits and sits on the market...what is that a sign of?
PRICE. It's always price.
Anonymous
04/08/2014 12:17
Subject: when new construction just sits and sits on the market...what is that a sign of?
F/e: these listing in N. Arlington-
http://www.redfin.com/VA/Arlington/3400-N-George-Mason-Dr-22207/home/11226639
http://www.redfin.com/VA/Arlington/2257-N-Vernon-St-22207/home/11232653
http://www.redfin.com/VA/Arlington/2921-John-Marshall-Dr-22207/home/11225207
Too expensive? Not in the right location? Not too many buyers in that price range who want to live in Arlington? Just curious. We are in that price range, and like the fact that Arlington is so close to the city, where we both work. We are just starting to look, and it seems like these really stick out. What do you think when you see a new construction that's been on the market for months?
http://www.redfin.com/VA/Arlington/3400-N-George-Mason-Dr-22207/home/11226639
http://www.redfin.com/VA/Arlington/2257-N-Vernon-St-22207/home/11232653
http://www.redfin.com/VA/Arlington/2921-John-Marshall-Dr-22207/home/11225207
Too expensive? Not in the right location? Not too many buyers in that price range who want to live in Arlington? Just curious. We are in that price range, and like the fact that Arlington is so close to the city, where we both work. We are just starting to look, and it seems like these really stick out. What do you think when you see a new construction that's been on the market for months?