Anonymous
10/06/2022 08:39
Subject: Are these H St. NE / Capitol Hill houses priced appropriately?
Anonymous wrote:This one is interesting, looks like a lobbyist's office.
https://www.realtor.com/realestateandhomes-detail/513-C-St-NE_Washington_DC_20002_M52491-09072
That price is bananas.
Anonymous
10/06/2022 07:33
Subject: Are these H St. NE / Capitol Hill houses priced appropriately?
This one is interesting, looks like a lobbyist's office.
https://www.realtor.com/realestateandhomes-detail/513-C-St-NE_Washington_DC_20002_M52491-09072
https://www.realtor.com/realestateandhomes-detail/513-C-St-NE_Washington_DC_20002_M52491-09072
Anonymous
10/04/2022 15:02
Subject: Are these H St. NE / Capitol Hill houses priced appropriately?
Anonymous wrote:Anonymous wrote:Went pending on 1st day.
https://www.realtor.com/realestateandhomes-detail/428-Kentucky-Ave-SE_Washington_DC_20003_M51418-27366
great house! love kentucky ave.
Went to the Open House. Not surprised it went by fast. I believe it was priced for a quick sell with current market conditions.
Anonymous
10/04/2022 15:00
Subject: Are these H St. NE / Capitol Hill houses priced appropriately?
Anonymous wrote:This is 0.4 acre lot. What a great combo for living and running a business.
https://www.redfin.com/DC/Washington/411-E-Capitol-St-SE-20003/home/182048188
Property of my dreams but can't afford it.
Anonymous
10/04/2022 13:30
Subject: Are these H St. NE / Capitol Hill houses priced appropriately?
Anonymous wrote:Went pending on 1st day.
https://www.realtor.com/realestateandhomes-detail/428-Kentucky-Ave-SE_Washington_DC_20003_M51418-27366
great house! love kentucky ave.
Anonymous
10/04/2022 13:24
Subject: Are these H St. NE / Capitol Hill houses priced appropriately?
This is 0.4 acre lot. What a great combo for living and running a business.
https://www.redfin.com/DC/Washington/411-E-Capitol-St-SE-20003/home/182048188
https://www.redfin.com/DC/Washington/411-E-Capitol-St-SE-20003/home/182048188
Anonymous
10/04/2022 13:20
Subject: Are these H St. NE / Capitol Hill houses priced appropriately?
Anonymous
10/02/2022 12:53
Subject: Are these H St. NE / Capitol Hill houses priced appropriately?
Anonymous wrote:Anonymous wrote:No young or old person willingly want to live in suburbs. Well located urban condos do appreciate but even ones not appreciating much are a great stepping stone for homeownership and equity building compared to paying rent to help someone else build equity.
Some people do want to live in the suburbs. Not me, but some people do.
We own an urban condo and it's appreciated and was a decent investment but I can acknowledge that we would have seen better appreciation if we'd bought a SFH in a less expensive location, whether in DC or in the suburbs. We wanted the good location in the neighborhood we loved, so we bought the condo and don't regret it. But I will also say that owning a condo in a hot neighborhood also means that we're struggling to move up to a SFH in this neighborhood because the SFHs have appreciated much more steeply than our condo. We also have savings but now with the rate hike, I don't know that we can save aggressively enough to make up the gap while also putting money away for retirement.
It is what it is. You have to go in knowing this is the case, which we did. We can accept the downsides because they didn't come as a shock. But here are downsides and people should know.
My condo helped with forced savings AND made 100k profit on top of saved equity so my experience is different and I would totally do it again. Its been a joy walking to and from work and to dinning etc, rent or suburb wouldn't give similar living or saving opportunity. That being said, your mileage may vary.
Anonymous
10/02/2022 12:37
Subject: Are these H St. NE / Capitol Hill houses priced appropriately?
Anonymous wrote:No young or old person willingly want to live in suburbs. Well located urban condos do appreciate but even ones not appreciating much are a great stepping stone for homeownership and equity building compared to paying rent to help someone else build equity.
Some people do want to live in the suburbs. Not me, but some people do.
We own an urban condo and it's appreciated and was a decent investment but I can acknowledge that we would have seen better appreciation if we'd bought a SFH in a less expensive location, whether in DC or in the suburbs. We wanted the good location in the neighborhood we loved, so we bought the condo and don't regret it. But I will also say that owning a condo in a hot neighborhood also means that we're struggling to move up to a SFH in this neighborhood because the SFHs have appreciated much more steeply than our condo. We also have savings but now with the rate hike, I don't know that we can save aggressively enough to make up the gap while also putting money away for retirement.
It is what it is. You have to go in knowing this is the case, which we did. We can accept the downsides because they didn't come as a shock. But here are downsides and people should know.
Anonymous
10/02/2022 12:26
Subject: Are these H St. NE / Capitol Hill houses priced appropriately?
No young or old person willingly want to live in suburbs. Well located urban condos do appreciate but even ones not appreciating much are a great stepping stone for homeownership and equity building compared to paying rent to help someone else build equity.
Anonymous
10/02/2022 12:23
Subject: Are these H St. NE / Capitol Hill houses priced appropriately?
Anonymous wrote:Anonymous wrote:This is a great location, newer construction, good finishes, low HOA, great outdoor space, proximity to metro and Eastern Market AND a great price. Its small but if you are single or a couple working on the Hill, this is a pretty neat option. I wish i had extra money to secure it for my kid and eventually for my retirement.
https://www.redfin.com/DC/Washington/1209-G-St-SE-20003/unit-9/home/107587293
I think you hit on the best buyer for this: someone with a college-age kid who will need their own place in DC soon, and who is empty nesting and might be looking to downsize/simplify soon.
If you could put down 40-50% (which is more reasonable for a couple nearing retirement), you’re looking at a monthly cost (including HOA and taxes) of $2300-$2500. Assume your kid is working and can cover some portion of that for the time they live there (5-6 years) so your costs would be closer to $100-1500/mo. Then when your kid moves on (ideally to buy their own place since they’ve been living with dirt cheap rent and no maintenance for 5 years and presumably able to save), you sell your current home, invest the proceeds, and have less than 10 years left on a pretty low mortgage (less if you overpay every month which would be easy once you sell your other home) and a delightful retirement condo in a great neighborhood with metro access, good proximity to healthcare, and the option of going car free. This is basically our retirement housing plan but our DC isn’t old enough yet snd we don’t want to have to be landlords for too many years.
It could work for a young couple too assuming they can put down a decent amount and their income is high enough that they can continue to save. A 600 sq ft co do is unlikely to appreciate much though so it’s not the best investment if you’re just putting down 20%, paining high rates, and not saving a lot. You’d be better off in a small SFH in the burbs for the same price.
Anonymous
10/02/2022 11:37
Subject: Are these H St. NE / Capitol Hill houses priced appropriately?
Anonymous wrote:This is a great location, newer construction, good finishes, low HOA, great outdoor space, proximity to metro and Eastern Market AND a great price. Its small but if you are single or a couple working on the Hill, this is a pretty neat option. I wish i had extra money to secure it for my kid and eventually for my retirement.
https://www.redfin.com/DC/Washington/1209-G-St-SE-20003/unit-9/home/107587293
This location is a bit too East for me.
Anonymous
10/02/2022 11:01
Subject: Are these H St. NE / Capitol Hill houses priced appropriately?
Anonymous wrote:This is a great location, newer construction, good finishes, low HOA, great outdoor space, proximity to metro and Eastern Market AND a great price. Its small but if you are single or a couple working on the Hill, this is a pretty neat option. I wish i had extra money to secure it for my kid and eventually for my retirement.
https://www.redfin.com/DC/Washington/1209-G-St-SE-20003/unit-9/home/107587293
I think you hit on the best buyer for this: someone with a college-age kid who will need their own place in DC soon, and who is empty nesting and might be looking to downsize/simplify soon.
If you could put down 40-50% (which is more reasonable for a couple nearing retirement), you’re looking at a monthly cost (including HOA and taxes) of $2300-$2500. Assume your kid is working and can cover some portion of that for the time they live there (5-6 years) so your costs would be closer to $100-1500/mo. Then when your kid moves on (ideally to buy their own place since they’ve been living with dirt cheap rent and no maintenance for 5 years and presumably able to save), you sell your current home, invest the proceeds, and have less than 10 years left on a pretty low mortgage (less if you overpay every month which would be easy once you sell your other home) and a delightful retirement condo in a great neighborhood with metro access, good proximity to healthcare, and the option of going car free. This is basically our retirement housing plan but our DC isn’t old enough yet snd we don’t want to have to be landlords for too many years.
It could work for a young couple too assuming they can put down a decent amount and their income is high enough that they can continue to save. A 600 sq ft co do is unlikely to appreciate much though so it’s not the best investment if you’re just putting down 20%, paining high rates, and not saving a lot. You’d be better off in a small SFH in the burbs for the same price.
Anonymous
10/02/2022 10:41
Subject: Are these H St. NE / Capitol Hill houses priced appropriately?
This is a great location, newer construction, good finishes, low HOA, great outdoor space, proximity to metro and Eastern Market AND a great price. Its small but if you are single or a couple working on the Hill, this is a pretty neat option. I wish i had extra money to secure it for my kid and eventually for my retirement.
https://www.redfin.com/DC/Washington/1209-G-St-SE-20003/unit-9/home/107587293
https://www.redfin.com/DC/Washington/1209-G-St-SE-20003/unit-9/home/107587293
Anonymous
10/01/2022 13:12
Subject: Re:Are these H St. NE / Capitol Hill houses priced appropriately?
Anonymous wrote: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.
Hhmm, maybe that explains it, as I see someone bought it this spring for $1.15 m, which makes sense. In any case, I’ve walked by and see no sign of active renovations. It’s a fabulous street in a great location — if fully renovated it could easily sell for $2 m.