Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Hey dum dums...
2 weeks is not “the market speaking”. Very few neighborhoods have less than 30 DOM.
Although it would be good to know that the average is for op’s area...

I agree, if they wait 120 days they should get another offer *checks notes* ...$50k above the list price.

We waited another 60 days at got 106k over our first offer. Suck it.

We believe you!!!

Who is “we”?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Hey dum dums...
2 weeks is not “the market speaking”. Very few neighborhoods have less than 30 DOM.
Although it would be good to know that the average is for op’s area...

I agree, if they wait 120 days they should get another offer *checks notes* ...$50k above the list price.

We waited another 60 days at got 106k over our first offer. Suck it.

We believe you!!!

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Hey dum dums...
2 weeks is not “the market speaking”. Very few neighborhoods have less than 30 DOM.
Although it would be good to know that the average is for op’s area...

I agree, if they wait 120 days they should get another offer *checks notes* ...$50k above the list price.

We waited another 60 days at got 106k over our first offer. Suck it.

But was your first offer list price? It would be very surprising if someone comes along at a later date and decides to just make an offer 50k over list knowing the house has been sitting. At most in that scenario I can imagine asking price + escalation clause, but without competing offers, it’s not going to escalate over list price.

My only point is that 2 weeks isn’t nearly enough time, AND they listed at one of the worst times of year. Our first offer was 100k under list, because it was a terrible time of year. We pulled the listing and came back on market 2 moths later.
Op, is in a terrible predicament by the realtor’s design. That doesn’t mean the house isn’t worth the price the seller had in mind. Op is in a real pickle, especially if their contingent offer has language directing them to move forward. My advice is to put the screws to the realtor, and go from there.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Hey dum dums...
2 weeks is not “the market speaking”. Very few neighborhoods have less than 30 DOM.
Although it would be good to know that the average is for op’s area...

I agree, if they wait 120 days they should get another offer *checks notes* ...$50k above the list price.

We waited another 60 days at got 106k over our first offer. Suck it.

But was your first offer list price? It would be very surprising if someone comes along at a later date and decides to just make an offer 50k over list knowing the house has been sitting. At most in that scenario I can imagine asking price + escalation clause, but without competing offers, it’s not going to escalate over list price.

Anonymous wrote:

Anonymous wrote:Hey dum dums...
2 weeks is not “the market speaking”. Very few neighborhoods have less than 30 DOM.
Although it would be good to know that the average is for op’s area...

I agree, if they wait 120 days they should get another offer *checks notes* ...$50k above the list price.

We waited another 60 days at got 106k over our first offer. Suck it.

Anonymous wrote:Hey dum dums...
2 weeks is not “the market speaking”. Very few neighborhoods have less than 30 DOM.
Although it would be good to know that the average is for op’s area...

I agree, if they wait 120 days they should get another offer *checks notes* ...$50k above the list price.

Anonymous wrote:Hey dum dums...
2 weeks is not “the market speaking”. Very few neighborhoods have less than 30 DOM.
Although it would be good to know that the average is for op’s area...

Haha, reading “hey dum dums” just made me laugh. Thanks! This thread is hilarious. I love how off track and tangent crazy people can go.

Hey dum dums...
2 weeks is not “the market speaking”. Very few neighborhoods have less than 30 DOM.
Although it would be good to know that the average is for op’s area...

Anonymous wrote:Said there would be a bidding war, one open house later we have an offer at asking but no war to speak of. The lowest we’d accept is 50K more than list but she was trying to cast a wide net by pricing so low. We’ve now realized it going with her price was a mistake. House getting a lot of traffic for August but clearly not enough for escalations. Is it too late to raise the price before the next open house?

So wait, you are priced lower than you want and have low traffic and no offers?

Reduce the price. You are actually overpriced. Don’t waste time rationalizing about “seasonal.” The market doesn’t work that way.

Back on topic, please. OP, did your one offer include an escalation clause? That will tell you something about how the buyer and their realtor viewed your pricing.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I will add that I acted as the construction manager for addition. Quote was going to be $175k if I wanted that too.

I also forgot to add I did the plumbing and electrical plus the framing

Yeah a DIY job for $125k is totally expected. That is not surprising. And not worth it for most people, their time is more valuable than to spend on a trade.

YeH that whole thread is a little ridiculous. Claiming why do people pay so much, I only had to pay this x! then later, oh I forgot to mention I managed the whole thing and did all the electrical, plumbing, and framing?? Most people do not have the skill or time to do that on a large addition. Kind of an important factoid to mention when you’re quoting prices of claiming people are overpaying

Anonymous wrote:

Anonymous wrote:I will add that I acted as the construction manager for addition. Quote was going to be $175k if I wanted that too.

I also forgot to add I did the plumbing and electrical plus the framing

Yeah a DIY job for $125k is totally expected. That is not surprising. And not worth it for most people, their time is more valuable than to spend on a trade.

Anonymous wrote:I will add that I acted as the construction manager for addition. Quote was going to be $175k if I wanted that too.

I also forgot to add I did the plumbing and electrical plus the framing

I will add that I acted as the construction manager for addition. Quote was going to be $175k if I wanted that too.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Are you sure it’s not priced correctly? Do you really think you’d get more offers if it was priced higher?

Yes a very similar house same layout a few doors down sold for 75k over our list price last month. That one has a bonus screened in porch so we mentally discounted 25k from what we would expect

A screened porch costs $40k bare bones.

It’s a very small one so we thought 25k was reasonable

I’m pricing a small screened porch now. Starts at $40k.

+1. I don’t think the folks saying $20 live in the DC area or have built anything lately.

Agreed. $15K buys you a deck in DC and surrounding area.

-2. Literally just last week we had a slate patio (20x20) installed in our Del Ray backyard for $8400. Our across the street neighbors had a mudroom/ back porch added for 18k.

You people must be the suckers that keep Harry Braswell in business.

I agree. DCUM is filled with suckers that overpay on household improvements all the time. It is crazy. If you spend the time talking to contractors and reading reviews it works out. But don't hire the contractor driving the pricey car and ridiculous prices.

Patios are much much cheaper than decks FYI, since decks are raised structures requiring footings. Patios are ground level and require no foundation

If anything- unless the patio was considerably large (which is not likely since we are talking about del Ray), that poster overpaid for her patio.

Yeah they essentially just laid down stones for a patio, and that cost 8K. A screen in porch requires footings, structure, and wiring as well as the roof and shingles. From their price, it sounds like the foundation would cost 8000 just to begin with.

PP says neighbor got porch and mud room for $18k. That’s seems more reasonable. My friend in DC paid $25k for huge sunroom with skylights. I paid $125k for a 2 level 700 square foot addition most DC contractors and neighbors say would cost me $300k minimum. I am always dumbfounded by the price people pay in DC. $75k kitchens etc. Paying $30k for an architect that I paid $4k for.

So majority of contractor said addition would be $300k, and you found someone to do it for $125k? Permitted and inspected? With licensed subs? Please recommend. In Nova, permits alone can be $25k for an addition, is that is amazing.

Major contractors/design build firms like Case and Landis won’t even bid on a job under $200k (they say $100k but haven’t heard of anyone getting one under $200). I have a neighbor that spent $200k on kitchen with same cabinets and counter finish that I have and a powder room with them. Yes, my addition in upper NWDC was fully contracted, full permits, and subs. Very nice finishes. I can sell my house for the same or more than my neighbor that just sold for $1.3m. Many subs work for the same larger firms that my neighbors pay $300k for. Design build contractors and high end architectural firms with high overhead expect to get 15% of an already inflated job. Times have been good for them the last 5 years. It won’t last. $200/square foot is absolute high end finishes in a traditional market. Contractors in DC don’t pay their subs much more than what my brother pays his subs for in Atlanta. But in DC they know that your addition is going to net you $400/square foot more in value as literally want to just charge you that. I have received quotes that were nearly double from properties I own in SE vs NW. My good friend is an architect and his firm averages $30k of work for that takes about 20-30 hours, most of which is consulting time. He says he loves additions because they are he easiest to duplicate from prior jobs. Even if they include kitchen and bathroom. The expensive fancy software they have does most of the work for them.