We’re looking in the $2.3 m range on the Hill and noted the F St listing, but we’d rather be closer to Eastern Market. A similar house on E. Capitol or A St SE we might take.

Anonymous wrote:https://www.redfin.com/DC/Washington/601-F-St-NE-20002/home/10177350

$2.3 million seems high. Yes, it's brand new with fancy kitchen and baths, and it's on a corner, but it's still the standard 3 bedroom, 2 1/2 bath upstairs + basement with bedroom and bath.

This is insanely high and won’t sell in this market. It’s a typical jumbo row house, they did a $300k renovation and are now seeking a $1 million profit

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:https://www.redfin.com/DC/Washington/601-F-St-NE-20002/home/10177350

$2.3 million seems high. Yes, it's brand new with fancy kitchen and baths, and it's on a corner, but it's still the standard 3 bedroom, 2 1/2 bath upstairs + basement with bedroom and bath.

I think its worth it and would sell between $2-2.4 million.

There’s no way. It’s nice, but that price is REALLY high for the neighborhood (I know; I live here). This house has no private outdoor space and no more square footage than the average mid-sized row house.

Agree. Another larger (though unrenovated) corner house two blocks away went for $1.5 m about 2 years ago. https://www.redfin.com/DC/Washington/400-F-St-NE-20002/home/9895285

Anonymous wrote:

Anonymous wrote:https://www.redfin.com/DC/Washington/601-F-St-NE-20002/home/10177350

$2.3 million seems high. Yes, it's brand new with fancy kitchen and baths, and it's on a corner, but it's still the standard 3 bedroom, 2 1/2 bath upstairs + basement with bedroom and bath.

I think its worth it and would sell between $2-2.4 million.

There’s no way. It’s nice, but that price is REALLY high for the neighborhood (I know; I live here). This house has no private outdoor space and no more square footage than the average mid-sized row house.

Anonymous wrote:https://www.redfin.com/DC/Washington/601-F-St-NE-20002/home/10177350

$2.3 million seems high. Yes, it's brand new with fancy kitchen and baths, and it's on a corner, but it's still the standard 3 bedroom, 2 1/2 bath upstairs + basement with bedroom and bath.

I live down the street and have been watching this reno proceed at a snail's pace over the last year and a half. So many questions: why did they use flat blade scooping shovels to dig out the window wells? (You know, the kind you use to move mulch not dig out hard/compacted soil in February.) Why did they plant a 5 ft cherry tree in July and never water it, leaving it to wither and die? I mean, these are silly examples that support the inference that the developer had money and time to burn, but it just gives me weird vibes. Also, why market the home as one that "the respected DC developer... designed and built... to be his own" but then not explain why he decided "naaaah, not the spot for me."

Agreed that it's priced way too high for what it is.

Anonymous wrote:

Anonymous wrote:https://www.redfin.com/DC/Washington/601-F-St-NE-20002/home/10177350

$2.3 million seems high. Yes, it's brand new with fancy kitchen and baths, and it's on a corner, but it's still the standard 3 bedroom, 2 1/2 bath upstairs + basement with bedroom and bath.

Yeah, pricing on that one is tricky. They went very high end with the finishes -- that's not contractor grade or even mid-grade. But it's not huge and the exterior is pretty meh (no real yard, landscape is a blank slate, and the corner means more windows but it also means less privacy when you are that close to the sidewalk).

At that price point there's also this weird thing where stuff that is a big asset at $1.3m seems less valuable at $2.3m. Like normally I'd say the location is fantastic -- close in, two blocks from Whole Foods and all the good stuff near it, plus IB for Ludlow Taylor. But if I'm spending $2.3m on a house, is the fact that I can walk to Whole Foods a huge deal to me? I probably get my groceries delivered. Am I excited about the excellent public school right next door or are my kids going to private anyway?

If you finance $2.3m at current mortgage rates, you're talking about a $14,000/mo payment. If you pay cash, as many people do at that price point, how much do you care about grocery stores and schools? If I had that kind of money, this is not the house I would buy.

I posted a thread a few weeks ago that got me broadly roasted about the $2.5 mil price point in Lyon Park. For the record, if I had $2.5 mil I'd buy this place on the Hill, not Arlington. But I think the conclusion was that there is a subset of people who really do place that kind of premium on walkability (to WF, H st, and Union Station and a good elementary school.)

Anonymous wrote:https://www.redfin.com/DC/Washington/601-F-St-NE-20002/home/10177350

$2.3 million seems high. Yes, it's brand new with fancy kitchen and baths, and it's on a corner, but it's still the standard 3 bedroom, 2 1/2 bath upstairs + basement with bedroom and bath.

I think its worth it and would sell between $2-2.4 million.

Anonymous wrote:https://www.redfin.com/DC/Washington/601-F-St-NE-20002/home/10177350

$2.3 million seems high. Yes, it's brand new with fancy kitchen and baths, and it's on a corner, but it's still the standard 3 bedroom, 2 1/2 bath upstairs + basement with bedroom and bath.

Yeah, pricing on that one is tricky. They went very high end with the finishes -- that's not contractor grade or even mid-grade. But it's not huge and the exterior is pretty meh (no real yard, landscape is a blank slate, and the corner means more windows but it also means less privacy when you are that close to the sidewalk).

At that price point there's also this weird thing where stuff that is a big asset at $1.3m seems less valuable at $2.3m. Like normally I'd say the location is fantastic -- close in, two blocks from Whole Foods and all the good stuff near it, plus IB for Ludlow Taylor. But if I'm spending $2.3m on a house, is the fact that I can walk to Whole Foods a huge deal to me? I probably get my groceries delivered. Am I excited about the excellent public school right next door or are my kids going to private anyway?

If you finance $2.3m at current mortgage rates, you're talking about a $14,000/mo payment. If you pay cash, as many people do at that price point, how much do you care about grocery stores and schools? If I had that kind of money, this is not the house I would buy.

https://www.redfin.com/DC/Washington/601-F-St-NE-20002/home/10177350

$2.3 million seems high. Yes, it's brand new with fancy kitchen and baths, and it's on a corner, but it's still the standard 3 bedroom, 2 1/2 bath upstairs + basement with bedroom and bath.

^ I meant the corner one is nicest on the INside. Don't like the exterior on any of them.

Anonymous wrote:

Anonymous wrote:These are 3 separate row homes that are sold as 3 units on Maryland Avenue & 11th. Thoughts? https://www.zillow.com/homedetails/1130-Maryland-Ave-NE-2-Washington-DC-20002/2061492005_zpid/?utm_campaign=iosappmessage&utm_medium=referral&utm_source=txtshare

I would've to tour before commenting but this unit looks better in pics and price difference is negligible. Unit listed for $999,000 doesn't look nearly as good as other two.

https://www.zillow.com/homedetails/1130-Maryland-Ave-NE-1-Washington-DC-20002/2061492150_zpid/

Agree the corner unit is nicest on the outside and seems much bigger, plus more light.

But I also don't like the exterior of any of them and I dislike those corner houses that look/feel like storefronts on Maryland Ave like this. It just feels like a lot of street exposure on a street that gets a quite a bit of vehicle and pedestrian traffic for a mostly residential area. I think I'd feel very exposed. Corner houses in other parts of the neighborhood don't have this issue because they are generally not angled at the intersection like this and also don't have street level entrances/first floors. Not my cup of tea and would be a deal breaker for a house that costs over a million.

Anonymous wrote:These are 3 separate row homes that are sold as 3 units on Maryland Avenue & 11th. Thoughts? https://www.zillow.com/homedetails/1130-Maryland-Ave-NE-2-Washington-DC-20002/2061492005_zpid/?utm_campaign=iosappmessage&utm_medium=referral&utm_source=txtshare

I would've to tour before commenting but this unit looks better in pics and price difference is negligible. Unit listed for $999,000 doesn't look nearly as good as other two.

https://www.zillow.com/homedetails/1130-Maryland-Ave-NE-1-Washington-DC-20002/2061492150_zpid/

These are 3 separate row homes that are sold as 3 units on Maryland Avenue & 11th. Thoughts? https://www.zillow.com/homedetails/1130-Maryland-Ave-NE-2-Washington-DC-20002/2061492005_zpid/?utm_campaign=iosappmessage&utm_medium=referral&utm_source=txtshare

Whatever anyone says, put $100-200 extra towards principal every month, 10% of every bonus as well. You'll pay it off or at least decrease your mortgage to a comfortably small montly to not have to worry about loosing your home.

Anonymous wrote:Timing is everything in real estate. If you try to sell while a recession is looming, you've to be very lucky to make significant profit.

To be realistic, residential homes shouldn't be seen as investment properties. When you need a home, you pick the best one in your price range, you live there and sell it when you need to. If you are lucky, timing works and you make some profit or at least not have a loss.

This. A house can still be a good investment even if real estate prices don't skyrocket if you approach it this way. Buy a house in your price range with a mortgage you can afford, it serves as a forced savings mechanism that you live in. If you get a fixed rate mortgage, this inoculates you from rent increases and allows you to more easily financial plan because your housing costs are steady. Even if you sell for what you bought or just a bit more, you will still build equity as you pay down your mortgage.

The problem with this area is that people have gotten used to massive real estate gains. There are people who bought row houses before 2010 that have double in value even without renovation. Some have even tripled -- I know people on the Hill who bought back when it was not considered a desirable neighborhood for families and paid 200k or even less. Their houses are easily worth 800k now, if not more. They weren't geniuses. They were in the right place at the right time. They had a little saved and steady jobs (not even high paying jobs, you can afford a 200k mortgage on like 60-80k a year, which if you are a couple means you could easily do this on teaching or non-profit salaries) and a willingness to live in a neighborhood with weak schools and some crime (i.e. most of DC). They got a windfall. Good for them, but this isn't a sustainable buying strategy for your average first-time buyer in DC.