Anonymous
09/19/2013 16:26
Subject: Re:Why is this Lyon Park home not selling?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:I do not understand some of the arguments here as it regards size and price/sf. I just saw a condo listing in Rosslyn the same size (1400 sf) priced for 1 million dollars at $700/sf with a $700 maintenance fee. It cannot be just price affecting the sell of A SFH in such a great location as Lyon Park. That 1 BEDROOM condo will likely sell close to the asking price based on history of properties like it on that location, so what the difference between that buyer and this buyer? Both locations are on busy areas but are attractive for different reasons.
I am guessing that a million-dollar condo buyer is looking for different things than a million-dollar house buyer. The condo must have checked these boxes, and this house didn't.
This, and Lyon Village isn't that desirable.
Lyon Village is one of the most desirable parts of Arlington for those that can afford it. Lyon Park is also very desirable and slightly more affordable.
That's just your opinion. Obviously, this house challenges that notion.
The most popular places in Arlington are further north: CC Hills, Country Club, Dominon Hills, even Cherrydale. I don't think Lyon Village cracks even the top 5.
Anonymous
09/19/2013 16:20
Subject: Why is this Lyon Park home not selling?
I would buy that house in a NY minute. I LOVE it and have no idea why it isn't selling. That's about the price I would expect, given what smaller houses have been selling for in my Arlington neighborhood. But I am not current on Lyon Park housing prices now that I am retired from house hunting.
Anonymous
09/19/2013 16:03
Subject: Re:Why is this Lyon Park home not selling?
Anonymous wrote:Anonymous wrote:Anonymous wrote:I do not understand some of the arguments here as it regards size and price/sf. I just saw a condo listing in Rosslyn the same size (1400 sf) priced for 1 million dollars at $700/sf with a $700 maintenance fee. It cannot be just price affecting the sell of A SFH in such a great location as Lyon Park. That 1 BEDROOM condo will likely sell close to the asking price based on history of properties like it on that location, so what the difference between that buyer and this buyer? Both locations are on busy areas but are attractive for different reasons.
I am guessing that a million-dollar condo buyer is looking for different things than a million-dollar house buyer. The condo must have checked these boxes, and this house didn't.
This, and Lyon Village isn't that desirable.
Lyon Village is one of the most desirable parts of Arlington for those that can afford it. Lyon Park is also very desirable and slightly more affordable.
Anonymous
09/19/2013 15:49
Subject: Why is this Lyon Park home not selling?
Anonymous wrote:I'd buy it if I needed to live in VA. I think it's really cute.
Me too, though we fall into the target market - just one kid.
The outside gives me pause - I don't think they don't take care of it, I think that with all those large trees (which are awesome) there's so much shade that it's really hard to keep a nice lawn.
Anonymous
09/19/2013 15:26
Subject: Re:Why is this Lyon Park home not selling?
Anonymous wrote:Anonymous wrote:I do not understand some of the arguments here as it regards size and price/sf. I just saw a condo listing in Rosslyn the same size (1400 sf) priced for 1 million dollars at $700/sf with a $700 maintenance fee. It cannot be just price affecting the sell of A SFH in such a great location as Lyon Park. That 1 BEDROOM condo will likely sell close to the asking price based on history of properties like it on that location, so what the difference between that buyer and this buyer? Both locations are on busy areas but are attractive for different reasons.
I am guessing that a million-dollar condo buyer is looking for different things than a million-dollar house buyer. The condo must have checked these boxes, and this house didn't.
PP here, this is why I think it is not just the price that is affecting the sell of the sfh but the psychology of the buyers. We're talking the same general area here, so I don't really buy the price is to high for the square feet.
Anonymous
09/19/2013 15:09
Subject: Re:Why is this Lyon Park home not selling?
Anonymous wrote:Anonymous wrote:I do not understand some of the arguments here as it regards size and price/sf. I just saw a condo listing in Rosslyn the same size (1400 sf) priced for 1 million dollars at $700/sf with a $700 maintenance fee. It cannot be just price affecting the sell of A SFH in such a great location as Lyon Park. That 1 BEDROOM condo will likely sell close to the asking price based on history of properties like it on that location, so what the difference between that buyer and this buyer? Both locations are on busy areas but are attractive for different reasons.
I am guessing that a million-dollar condo buyer is looking for different things than a million-dollar house buyer. The condo must have checked these boxes, and this house didn't.
This, and Lyon Village isn't that desirable.
Anonymous
09/19/2013 15:08
Subject: Re:Why is this Lyon Park home not selling?
Anonymous wrote:I do not understand some of the arguments here as it regards size and price/sf. I just saw a condo listing in Rosslyn the same size (1400 sf) priced for 1 million dollars at $700/sf with a $700 maintenance fee. It cannot be just price affecting the sell of A SFH in such a great location as Lyon Park. That 1 BEDROOM condo will likely sell close to the asking price based on history of properties like it on that location, so what the difference between that buyer and this buyer? Both locations are on busy areas but are attractive for different reasons.
I am guessing that a million-dollar condo buyer is looking for different things than a million-dollar house buyer. The condo must have checked these boxes, and this house didn't.
Anonymous
09/19/2013 15:00
Subject: Re:Why is this Lyon Park home not selling?
I do not understand some of the arguments here as it regards size and price/sf. I just saw a condo listing in Rosslyn the same size (1400 sf) priced for 1 million dollars at $700/sf with a $700 maintenance fee. It cannot be just price affecting the sell of A SFH in such a great location as Lyon Park. That 1 BEDROOM condo will likely sell close to the asking price based on history of properties like it on that location, so what the difference between that buyer and this buyer? Both locations are on busy areas but are attractive for different reasons.
Anonymous
09/19/2013 14:22
Subject: Re:Why is this Lyon Park home not selling?
Anonymous wrote:The answer to "Why is this XXX home not selling" is almost always the same...priced too high.
In this case, if you look and the list of similar homes both listings and sold, it is the highest priced home (and only median on square footage) and has by far the highest cost/sq ft. Yes, it has some nice renovation and interior work, but not enough to justify that much of an upcharge. The owners are clearly trying to recoup the cost of all of that renovation and trying to make a profit when the market really won't bear that. Plus, if you are going to charge that much, the entire house needs to be updated and the one 1950's pink and blue bath should be done, and it should have updated light fixtures and frankly, light covers. The upstairs uncovered lights make it look like they cut corners before the renovations were finished or they ran out of money. Plus they haven't taken care of the outside very well, between the dirt on the side where the grass just died and the yard of weeds in the front and back and the poorly cared for landscaping means that buyers will need to put money into the house afterwards to get all these things done besides just personalizing like paint, etc. If you are buying the most expensive property in the neighborhood, you shouldn't have this much work left to be done on the property. The sellers need a hard dose of reality. Frankly, I would expect it to sell for about $50K less than listing and they should not be surprised to get offers starting with a 7 rather than an 8.
I wish the sellers could read this- great assessment! They'd start getting offers, I bet, if they priced it at $789k.
Anonymous
09/19/2013 14:20
Subject: Why is this Lyon Park home not selling?
I'd buy it if I needed to live in VA. I think it's really cute.
Anonymous
09/19/2013 14:19
Subject: Why is this Lyon Park home not selling?
pink bathroom, radiators, tiny count most people out
Anonymous
09/19/2013 14:14
Subject: Why is this Lyon Park home not selling?
Anonymous wrote:Cute house, but I think the location might be turning off some people - Pershing and Washington are both pretty major streets at that point, and the house is super close to both. Also yeah, it's a pretty high price PSF.
Honestly it is far enough away from Washington Blvd and Pershing Drive to matter. Homes sell for a million on Pershing, like that large vintage craftsman that was featured on DC Urbanturf. And the middle school TJ has a pretty good reputation these days, but still not quite as desireable as Swanson or Williamsburg.
Anonymous
09/19/2013 11:15
Subject: Re:Why is this Lyon Park home not selling?
The answer to "Why is this XXX home not selling" is almost always the same...priced too high.
In this case, if you look and the list of similar homes both listings and sold, it is the highest priced home (and only median on square footage) and has by far the highest cost/sq ft. Yes, it has some nice renovation and interior work, but not enough to justify that much of an upcharge. The owners are clearly trying to recoup the cost of all of that renovation and trying to make a profit when the market really won't bear that. Plus, if you are going to charge that much, the entire house needs to be updated and the one 1950's pink and blue bath should be done, and it should have updated light fixtures and frankly, light covers. The upstairs uncovered lights make it look like they cut corners before the renovations were finished or they ran out of money. Plus they haven't taken care of the outside very well, between the dirt on the side where the grass just died and the yard of weeds in the front and back and the poorly cared for landscaping means that buyers will need to put money into the house afterwards to get all these things done besides just personalizing like paint, etc. If you are buying the most expensive property in the neighborhood, you shouldn't have this much work left to be done on the property. The sellers need a hard dose of reality. Frankly, I would expect it to sell for about $50K less than listing and they should not be surprised to get offers starting with a 7 rather than an 8.
In this case, if you look and the list of similar homes both listings and sold, it is the highest priced home (and only median on square footage) and has by far the highest cost/sq ft. Yes, it has some nice renovation and interior work, but not enough to justify that much of an upcharge. The owners are clearly trying to recoup the cost of all of that renovation and trying to make a profit when the market really won't bear that. Plus, if you are going to charge that much, the entire house needs to be updated and the one 1950's pink and blue bath should be done, and it should have updated light fixtures and frankly, light covers. The upstairs uncovered lights make it look like they cut corners before the renovations were finished or they ran out of money. Plus they haven't taken care of the outside very well, between the dirt on the side where the grass just died and the yard of weeds in the front and back and the poorly cared for landscaping means that buyers will need to put money into the house afterwards to get all these things done besides just personalizing like paint, etc. If you are buying the most expensive property in the neighborhood, you shouldn't have this much work left to be done on the property. The sellers need a hard dose of reality. Frankly, I would expect it to sell for about $50K less than listing and they should not be surprised to get offers starting with a 7 rather than an 8.
Anonymous
09/19/2013 11:14
Subject: Why is this Lyon Park home not selling?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:I would not personally consider it due to the radiators, does not seem safe with small kids. For someone else, I could see it working.
I'm confused about this one too...
HUH? We lived in an 1880 rowhouse with radiators when my kids were babies and toddlers. The moist heat is the best thing. My mom talks about drying her mittens on them when she was a kid.
sounds terrible
Anonymous
09/19/2013 11:09
Subject: Why is this Lyon Park home not selling?
Anonymous wrote:Anonymous wrote:Anonymous wrote:I would not personally consider it due to the radiators, does not seem safe with small kids. For someone else, I could see it working.
I'm confused about this one too...
HUH? We lived in an 1880 rowhouse with radiators when my kids were babies and toddlers. The moist heat is the best thing. My mom talks about drying her mittens on them when she was a kid.