Anonymous wrote:This one fascinates me

https://www.redfin.com/DC/Washington/1163-Abbey-Pl-NE-20002/home/9892223

It sat through 2 interest rate hikes in the spring/summer and is now relisted at an even higher price. Redfin says it’s a hot home though. Will this strategy work or will the sellers have to take an L?

I live nearby and saw this in the spring with a friend. It’s one of the nicer blocks in the neighborhood and from what I remember had nice finishes. It just felt incredibly small. A pp said the bedrooms felt tight, but I thought the living areas were tiny. My rowhome is only a few hundred sq ft larger but felt twice the size. Looks like the owners bought fairly recently too, I wish them luck.

Anonymous wrote:Can anyone explain this property to me? I get the idea of selling a property that needs a full gut job but the $3 m price tag is perplexing. It should be more like $1 m max.

https://www.zillow.com/homedetails/647-G-St-SE-Washington-DC-20003/418138_zpid/?utm_campaign=iosappmessage&utm_medium=referral&utm_source=txtshare

Nice street and neighborhood but seller is clearly delusional expecting $3million for a small townhome needing full remodel.

Anonymous wrote:Can anyone explain this property to me? I get the idea of selling a property that needs a full gut job but the $3 m price tag is perplexing. It should be more like $1 m max.

https://www.zillow.com/homedetails/647-G-St-SE-Washington-DC-20003/418138_zpid/?utm_campaign=iosappmessage&utm_medium=referral&utm_source=txtshare

I recall another thread a poster mentioned investors will sometimes put properties for sale at insane prices so they don’t have to pay taxes during renovations (or something to that effect). Maybe that’s the situation here, otherwise it makes no sense.

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.

Hi Marc!

Can anyone explain this property to me? I get the idea of selling a property that needs a full gut job but the $3 m price tag is perplexing. It should be more like $1 m max.

https://www.zillow.com/homedetails/647-G-St-SE-Washington-DC-20003/418138_zpid/?utm_campaign=iosappmessage&utm_medium=referral&utm_source=txtshare

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Capitol Hill now attracts affluent couples who prefer updated look with preserved old charm. They would rather live in a nice converted condo than a dated town house. However, this home is absolutely livable for a frugal family. Just minor updates and modern decor can do a lot.

+1 but I think buyers willing to pay asking will pass on this because there is enough inventory of updated homes to satisfy them. I think this will go to a family with a lower budget but good financial sense, and I absolutely see it getting negotiated down purely because of rates.

To explain further, I see very limited storage, no parking, and only one full bath and it’s quite small. These are basic livability issues. Many people in the Hill deal with them but not in houses with $6000/mo mortgages.

Yeah, I think people at the million dollar price point on the Hill expect either perfection or a usable basement. This is a very nice house and Maury can’t be beat, but I don’t foresee a bidding war.

Anonymous wrote:This one fascinates me

https://www.redfin.com/DC/Washington/1163-Abbey-Pl-NE-20002/home/9892223

It sat through 2 interest rate hikes in the spring/summer and is now relisted at an even higher price. Redfin says it’s a hot home though. Will this strategy work or will the sellers have to take an L?

Huh, interesting. I think, but am not positive, that we viewed this house back in 2012. If it’s the one I’m thinking of, it had tenants at the time and was hard to view. I don’t remember there being an income unit and it was before the kitchen/bath renovations. I remember specifically that the upstairs layout was tight and we were concerned about trying to renovate the bathroom with so little space— looks like they resolved by putting the washer/dryer in the bathroom, eliminating a closet and putting built inside against another wall.

I wonder if they did additional work on it after taking it off the market this summer, which would explain the higher price? I do actually think 899 is not unreasonable given size, location, and the nice and recent upgrades.

This one fascinates me

https://www.redfin.com/DC/Washington/1163-Abbey-Pl-NE-20002/home/9892223

It sat through 2 interest rate hikes in the spring/summer and is now relisted at an even higher price. Redfin says it’s a hot home though. Will this strategy work or will the sellers have to take an L?

Anonymous wrote:

Anonymous wrote:Capitol Hill now attracts affluent couples who prefer updated look with preserved old charm. They would rather live in a nice converted condo than a dated town house. However, this home is absolutely livable for a frugal family. Just minor updates and modern decor can do a lot.

+1 but I think buyers willing to pay asking will pass on this because there is enough inventory of updated homes to satisfy them. I think this will go to a family with a lower budget but good financial sense, and I absolutely see it getting negotiated down purely because of rates.

To explain further, I see very limited storage, no parking, and only one full bath and it’s quite small. These are basic livability issues. Many people in the Hill deal with them but not in houses with $6000/mo mortgages.

Anonymous wrote:Capitol Hill now attracts affluent couples who prefer updated look with preserved old charm. They would rather live in a nice converted condo than a dated town house. However, this home is absolutely livable for a frugal family. Just minor updates and modern decor can do a lot.

+1 but I think buyers willing to pay asking will pass on this because there is enough inventory of updated homes to satisfy them. I think this will go to a family with a lower budget but good financial sense, and I absolutely see it getting negotiated down purely because of rates.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why are these homes sitting (South of H Street edition)

1. 1018 F Street NE (3br/2ba, 2515 sf, $899,950)
108 days on the market, $50k price cut. From the listing this seems like it's actually a 2br.

https://www.redfin.com/DC/Washington/1018-F-St-NE-20002/home/9906175

2. 728 Maryland Ave NE (3/3.5, 1704 sf, $918,728)
46 days on the market, two price cuts totalling $27k.

https://www.redfin.com/DC/Washington/728-Maryland-Ave-NE-20002/home/9901350

3. 625 Eighth St Ne (4/3.5, 2178 sf, $1.099 million)
67 days on the market, two price cuts totalling $50k.

https://www.redfin.com/DC/Washington/625-8th-St-NE-20002/home/9902577?&utm_source=google&utm_medium=ppc&utm_campaign=1024047&utm_term=aud-849690325664:dsa-1341488466136&utm_content=454669093137&adgid=111663027528&gclid=CjwKCAjwpqCZBhAbEiwAa7pXeQ_Jxj5SJQkoNLhhF2g5ayquVkfOp_tVoZR0slBBen9xmK-Q8aM7TBoCQjEQAvD_BwE&gclsrc=aw.ds

4. 1322 Maryland (3/2.5, 2567 sf, $1.275 million)
94 days on the market, two price cuts totalling $75k.

https://www.redfin.com/DC/Washington/1322-Maryland-Ave-NE-20002/home/9912516?&utm_source=google&utm_medium=ppc&utm_campaign=1024047&utm_term=aud-923999259996:dsa-1341488480376&utm_content=454669093137&adgid=111663027528&gclid=CjwKCAjwpqCZBhAbEiwAa7pXedE68RXSQ_85oe28CQPZGKrti0GWDz9X5bYVsxAg7yZMPqC4Mh4luhoC4Q8QAvD_BwE&gclsrc=aw.ds

5. 718 13th Street NE (4/2.5, 2039 sf, $899k)
60 days on the market, three price cuts totalling $50k

https://www.redfin.com/DC/Washington/718-13th-St-NE-20002/home/9909933

All of these are still languishing.

Nine months ago, these all would have lasted a week on the market, tops.

They waited too long hoping for prices to go up and missed peak, just like buyers who are hoping for lower prices, will miss current low. Its a great time to buy, you can negotiate and have contingencies. Great time to be a buyer, just don't assume sellers to throw their houses away, make reasonable offers.

Anonymous wrote:

Anonymous wrote:Why are these homes sitting (South of H Street edition)

1. 1018 F Street NE (3br/2ba, 2515 sf, $899,950)
108 days on the market, $50k price cut. From the listing this seems like it's actually a 2br.

https://www.redfin.com/DC/Washington/1018-F-St-NE-20002/home/9906175

2. 728 Maryland Ave NE (3/3.5, 1704 sf, $918,728)
46 days on the market, two price cuts totalling $27k.

https://www.redfin.com/DC/Washington/728-Maryland-Ave-NE-20002/home/9901350

3. 625 Eighth St Ne (4/3.5, 2178 sf, $1.099 million)
67 days on the market, two price cuts totalling $50k.

https://www.redfin.com/DC/Washington/625-8th-St-NE-20002/home/9902577?&utm_source=google&utm_medium=ppc&utm_campaign=1024047&utm_term=aud-849690325664:dsa-1341488466136&utm_content=454669093137&adgid=111663027528&gclid=CjwKCAjwpqCZBhAbEiwAa7pXeQ_Jxj5SJQkoNLhhF2g5ayquVkfOp_tVoZR0slBBen9xmK-Q8aM7TBoCQjEQAvD_BwE&gclsrc=aw.ds

4. 1322 Maryland (3/2.5, 2567 sf, $1.275 million)
94 days on the market, two price cuts totalling $75k.

https://www.redfin.com/DC/Washington/1322-Maryland-Ave-NE-20002/home/9912516?&utm_source=google&utm_medium=ppc&utm_campaign=1024047&utm_term=aud-923999259996:dsa-1341488480376&utm_content=454669093137&adgid=111663027528&gclid=CjwKCAjwpqCZBhAbEiwAa7pXedE68RXSQ_85oe28CQPZGKrti0GWDz9X5bYVsxAg7yZMPqC4Mh4luhoC4Q8QAvD_BwE&gclsrc=aw.ds

5. 718 13th Street NE (4/2.5, 2039 sf, $899k)
60 days on the market, three price cuts totalling $50k

https://www.redfin.com/DC/Washington/718-13th-St-NE-20002/home/9909933

All of these are still languishing.

Nine months ago, these all would have lasted a week on the market, tops.

Anonymous wrote:

Anonymous wrote:Why are these homes sitting (South of H Street edition)

1. 1018 F Street NE (3br/2ba, 2515 sf, $899,950)
108 days on the market, $50k price cut. From the listing this seems like it's actually a 2br.

https://www.redfin.com/DC/Washington/1018-F-St-NE-20002/home/9906175

2. 728 Maryland Ave NE (3/3.5, 1704 sf, $918,728)
46 days on the market, two price cuts totalling $27k.

https://www.redfin.com/DC/Washington/728-Maryland-Ave-NE-20002/home/9901350

3. 625 Eighth St Ne (4/3.5, 2178 sf, $1.099 million)
67 days on the market, two price cuts totalling $50k.

https://www.redfin.com/DC/Washington/625-8th-St-NE-20002/home/9902577?&utm_source=google&utm_medium=ppc&utm_campaign=1024047&utm_term=aud-849690325664:dsa-1341488466136&utm_content=454669093137&adgid=111663027528&gclid=CjwKCAjwpqCZBhAbEiwAa7pXeQ_Jxj5SJQkoNLhhF2g5ayquVkfOp_tVoZR0slBBen9xmK-Q8aM7TBoCQjEQAvD_BwE&gclsrc=aw.ds

4. 1322 Maryland (3/2.5, 2567 sf, $1.275 million)
94 days on the market, two price cuts totalling $75k.

https://www.redfin.com/DC/Washington/1322-Maryland-Ave-NE-20002/home/9912516?&utm_source=google&utm_medium=ppc&utm_campaign=1024047&utm_term=aud-923999259996:dsa-1341488480376&utm_content=454669093137&adgid=111663027528&gclid=CjwKCAjwpqCZBhAbEiwAa7pXedE68RXSQ_85oe28CQPZGKrti0GWDz9X5bYVsxAg7yZMPqC4Mh4luhoC4Q8QAvD_BwE&gclsrc=aw.ds

5. 718 13th Street NE (4/2.5, 2039 sf, $899k)
60 days on the market, three price cuts totalling $50k

https://www.redfin.com/DC/Washington/718-13th-St-NE-20002/home/9909933

All of these are still languishing.

The 728 Maryland house seems to have very low ceilings in the basement.

Anonymous wrote:

Anonymous wrote:Another <$1m IB for Maury. This one is much bigger. The kitchen and baths are extremely meh but that's honestly the only flaw I can find -- Love the fireplaces, original woodwork, good size bedrooms (maybe the closets are small?), the back patio, the location, the IB school. $955k. I'd personally offer below ask because of the kitchen/bath situation, as most buyers in the $1m range are looking for updates in those areas. But this house has great bones and is totally livable as is. See if you can get it for closer to 900k and gut the kitchen when the cost of renovations comes down (hopefully).

https://www.redfin.com/DC/Washington/1414-N-Carolina-Ave-NE-20002/home/9916472

you’re crazy if you think a victorian rowhouse of that size bordering Lincoln Park and IB to Maury is going for 900k. I think this one might go for over asking.

Yeah, I think this one is priced right at $950 and would be really surprised if it went below asking.

Anonymous wrote:Why are these homes sitting (South of H Street edition)

1. 1018 F Street NE (3br/2ba, 2515 sf, $899,950)
108 days on the market, $50k price cut. From the listing this seems like it's actually a 2br.

https://www.redfin.com/DC/Washington/1018-F-St-NE-20002/home/9906175

2. 728 Maryland Ave NE (3/3.5, 1704 sf, $918,728)
46 days on the market, two price cuts totalling $27k.

https://www.redfin.com/DC/Washington/728-Maryland-Ave-NE-20002/home/9901350

3. 625 Eighth St Ne (4/3.5, 2178 sf, $1.099 million)
67 days on the market, two price cuts totalling $50k.

https://www.redfin.com/DC/Washington/625-8th-St-NE-20002/home/9902577?&utm_source=google&utm_medium=ppc&utm_campaign=1024047&utm_term=aud-849690325664:dsa-1341488466136&utm_content=454669093137&adgid=111663027528&gclid=CjwKCAjwpqCZBhAbEiwAa7pXeQ_Jxj5SJQkoNLhhF2g5ayquVkfOp_tVoZR0slBBen9xmK-Q8aM7TBoCQjEQAvD_BwE&gclsrc=aw.ds

4. 1322 Maryland (3/2.5, 2567 sf, $1.275 million)
94 days on the market, two price cuts totalling $75k.

https://www.redfin.com/DC/Washington/1322-Maryland-Ave-NE-20002/home/9912516?&utm_source=google&utm_medium=ppc&utm_campaign=1024047&utm_term=aud-923999259996:dsa-1341488480376&utm_content=454669093137&adgid=111663027528&gclid=CjwKCAjwpqCZBhAbEiwAa7pXedE68RXSQ_85oe28CQPZGKrti0GWDz9X5bYVsxAg7yZMPqC4Mh4luhoC4Q8QAvD_BwE&gclsrc=aw.ds

5. 718 13th Street NE (4/2.5, 2039 sf, $899k)
60 days on the market, three price cuts totalling $50k

https://www.redfin.com/DC/Washington/718-13th-St-NE-20002/home/9909933

All of these are still languishing.