Anonymous
04/24/2025 12:22
Subject: Housing prices falling ? U ST NW house
Anonymous wrote:Anonymous wrote:Look at this one too https://redf.in/2Shcx5
Sold in 2020 for 1.7 million. Put back in the market in July 2024 for 1.85 mil. Removed in January. Put back in the market end of March at 1.45 mil and went under contract in 3 days.
It must have something to do with the area. I feel really bad for all those owners…
+1 The area is declining due to crime and other issues.
Where do you live?
Anonymous
04/24/2025 11:46
Subject: Housing prices falling ? U ST NW house
Anonymous wrote:Anonymous wrote:Look at this one too https://redf.in/2Shcx5
Sold in 2020 for 1.7 million. Put back in the market in July 2024 for 1.85 mil. Removed in January. Put back in the market end of March at 1.45 mil and went under contract in 3 days.
It must have something to do with the area. I feel really bad for all those owners…
+1 The area is declining due to crime and other issues.
According to DCUM posters literally every neighborhood everywhere is "declining." You all need to get a grip on reality.
Anonymous
04/24/2025 11:42
Subject: Housing prices falling ? U ST NW house
Anonymous wrote:Anonymous wrote:Anonymous wrote:The house next door is nicer, more expensive and is also sitting
https://redf.in/e3PD7g
It really is a case study of a neighborhood having a price ceiling. U Street is rowdy and loud. You can sell that atmosphere to some younger singles and couples, but I can’t think of one family or even childfree age 35+ couple who—if they had a budget of $1.5-2 million for a 3-4 BR DC rowhouse—would choose U Street over the many other neighborhoods.
That neighborhood is better suited for rowhouses split up into 2 or 3 $500-650k condos, but they’re priced too high to make these condo conversions viable.
Exactly. The size of the buyer pool for this house -- younger singles or couples who both could afford this place and don't mind living so close to U Street -- is infinitesimally small. Throw in a poorly designed interior and you have a house that needs further price reductions.
I had friends who lived on U street before it gentrified and I loved their place. We were artsy 20 somethings fresh out of college and we loved the U street vibe. It was edgy small clubs, music venues, lounges and small hole in the wall restaurants all full of young 20 somethings, either still in college or fresh out of college/grad. Yes some blocks were a bit rundown, but it never felt dangerous, just edgy and it worked. That was it's hey day. This was 30+ years ago.
Anonymous
04/24/2025 11:37
Subject: Housing prices falling ? U ST NW house
Anonymous wrote:Anonymous wrote:The house next door is nicer, more expensive and is also sitting
https://redf.in/e3PD7g
This house follows an interesting pattern: It sold in 2017, sold again to new owners in 2020, now those owners are selling it again in 2025.
Suggests people live there for a handful of years then tire of the neighborhood.
It's not really tiring of the neighborhood as much as deciding to move for more space, better zoned schools, etc. The trick is that you can't do that and make money for every seller because 1) prices don't go up forever and 2) as the PP said, this neighborhood basically has a price cap. And that cap is quite a bit higher than it used to be, but probably set for now.
Anonymous
04/24/2025 11:34
Subject: Housing prices falling ? U ST NW house
People moved out of these houses for a reason, they were narrow and dark. These may be painted in white and greys but they are still narrow, almost claustrophobic, and a little too bright, too many sharp angles, almost crisp reminds me of a doctors office. Clean but no character.
Anonymous
04/24/2025 11:27
Subject: Housing prices falling ? U ST NW house
Anonymous wrote:The house next door is nicer, more expensive and is also sitting
https://redf.in/e3PD7g
This house follows an interesting pattern: It sold in 2017, sold again to new owners in 2020, now those owners are selling it again in 2025.
Suggests people live there for a handful of years then tire of the neighborhood.
Anonymous
04/24/2025 10:12
Subject: Housing prices falling ? U ST NW house
Anonymous wrote:Anonymous wrote:The house next door is nicer, more expensive and is also sitting
https://redf.in/e3PD7g
It really is a case study of a neighborhood having a price ceiling. U Street is rowdy and loud. You can sell that atmosphere to some younger singles and couples, but I can’t think of one family or even childfree age 35+ couple who—if they had a budget of $1.5-2 million for a 3-4 BR DC rowhouse—would choose U Street over the many other neighborhoods.
That neighborhood is better suited for rowhouses split up into 2 or 3 $500-650k condos, but they’re priced too high to make these condo conversions viable.
Exactly. The size of the buyer pool for this house -- younger singles or couples who both could afford this place and don't mind living so close to U Street -- is infinitesimally small. Throw in a poorly designed interior and you have a house that needs further price reductions.
Anonymous
04/24/2025 09:42
Subject: Housing prices falling ? U ST NW house
Anonymous wrote:The house next door is nicer, more expensive and is also sitting
https://redf.in/e3PD7g
It really is a case study of a neighborhood having a price ceiling. U Street is rowdy and loud. You can sell that atmosphere to some younger singles and couples, but I can’t think of one family or even childfree age 35+ couple who—if they had a budget of $1.5-2 million for a 3-4 BR DC rowhouse—would choose U Street over the many other neighborhoods.
That neighborhood is better suited for rowhouses split up into 2 or 3 $500-650k condos, but they’re priced too high to make these condo conversions viable.
Anonymous
04/24/2025 09:29
Subject: Housing prices falling ? U ST NW house
Anonymous wrote:Look at this one too https://redf.in/2Shcx5
Sold in 2020 for 1.7 million. Put back in the market in July 2024 for 1.85 mil. Removed in January. Put back in the market end of March at 1.45 mil and went under contract in 3 days.
It must have something to do with the area. I feel really bad for all those owners…
+1 The area is declining due to crime and other issues.
Anonymous
04/24/2025 08:27
Subject: Housing prices falling ? U ST NW house
Look at this one too https://redf.in/2Shcx5
Sold in 2020 for 1.7 million. Put back in the market in July 2024 for 1.85 mil. Removed in January. Put back in the market end of March at 1.45 mil and went under contract in 3 days.
It must have something to do with the area. I feel really bad for all those owners…
Sold in 2020 for 1.7 million. Put back in the market in July 2024 for 1.85 mil. Removed in January. Put back in the market end of March at 1.45 mil and went under contract in 3 days.
It must have something to do with the area. I feel really bad for all those owners…
Anonymous
04/24/2025 08:22
Subject: Housing prices falling ? U ST NW house
Anonymous
04/24/2025 08:17
Subject: Housing prices falling ? U ST NW house
I like the house except for the kitchen and the light blue paint outside. The kitchen is supposed to be modern maybe, but I think there is little cabinet space and I don’t like to look of it. They should have put hardwood floor there too. Also, that area of U street is not very safe. The house is not so big either. I think it will sell for 1.5 million. I feel bad for the current owners. They paid too much for it when they bought it.
Anonymous
04/24/2025 06:33
Subject: Housing prices falling ? U ST NW house
Anonymous wrote:I think the issue is partly the economy, partly crime in that specific spot, but mostly the horrible renovation/layout. Where does a coat go or boots and umbrellas? Where do I securely store my bike? Is there a basement that’s usable or just a crawl space?
The lack of basement photos in the listing is a massive red flag. There's also no closets in either of the secondary bedrooms upstairs. Just a bunch of preposterous decisions went into the renovations of this place.
Anonymous
04/24/2025 00:16
Subject: Housing prices falling ? U ST NW house
Dupont and Logan prices are holding up. I see a lot selling for a little more than 2022.
Anonymous
04/23/2025 23:03
Subject: Housing prices falling ? U ST NW house
Anonymous wrote:Bought in 2022 for $200,000 over current price … listed for 1.9 mil in Dec 2024 now listed at 1.650 … what’s happening ? https://www.zillow.com/homedetails/1911-11th-St-NW-Washington-DC-20001/119083902_zpid/?utm_campaign=iosappmessage&utm_medium=referral&utm_source=txtshare
1. They ruined it. I will never understand why people purchase a 100 year old house and put in ultra modern touches. It will date horribly. “Thoughtful renovation” indeed.
2. Bad floor plan. That living room is microscopic.
3. They didn’t hold onto it for at least 5-7 years.
But most of all, I’m just sad for the house. There’s no telling what they ripped out. It couldn’t have been worse.