Anonymous
01/28/2021 13:31
Subject: What a million now gets you near American University
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:It is under contract already
It was marketed for a quick sale, so this is unsurprising. Wonder if they’ll keep the house. I can imagine starting from scratch is cheaper.
Why not keep house? As run down as it is a crew or team of folks could have it move in ready in under 90 days. A tear down and rebuild at best one year and wild card in property taxes and permit fees.
Do you know for a fact the house doesn't have serious issues that might not be fixable or would cost substantial sums to fix? I know a bit about the backstory here and I'd be very hesitant about making guesses without a very, very close look.
What is the backstory? A lot of primary homeowners cant afford to rent for 1-2 years waiting on a house to be torn down and permits and unexpected costs while paying for two places and the total uncertainty of the property taxes. I for one have people who do work discreetly and could easily do all the work first that either does not require permits or permits that wont raise taxes like windows and door then do inside, not changing stuff, just new kitchens and new bathrooms and sanding and painting. I am sure if a primary home owner caring for house it will be appreciated and not reported.
Now you have the purchase price as your cost basis, when you sell in 15-25 years you will be selling at that point a historical low tax beautiful home as opposed to a big tacky box built in 2021 that is dated and everything is going all at once.
Dont see how it makes sense for a long term homeowners to tear down a house like that. Yes a flipper yes. Yes a short timer yes, but long term. The original classic house in 2041 will be worth a lot more
pp, I’d love to know who you recommend for this type of work.
Anonymous
01/26/2021 14:35
Subject: What a million now gets you near American University
Anonymous wrote:Anonymous wrote:Anonymous wrote:I live in the neighborhood. I's not uncommon for a family to buy something like this and spend 6-12 months doing a complete renovation before moving in. Of course, a builder may have bought it and will turn around and resell it for $1.7-$2M after doing a renovation plus addition.
$1.7M-$2M for a 4,500 sqft lot and a 1,800 sqft house? Surely, you're joking!
The PP said "plus addition." I'm not an expert in zoning laws, but I believe in DC you can cover up to 60% of your lot with structure, which would allow for a total of 2,700 sq ft house. The $1.7 - $2 m estimate seems a touch high but not too far off.
It you add dormer windows to the attic and make it usable space and make unheated back porch livable space you can add to square footage easy enough without going out side foot print or needed a lot of permits House has a nice backyard and a detached garage. A big house would take that away. Parking is very valuable and a detached garage very valuable in a small house in an area with almost no on street parking.
Anonymous
01/26/2021 14:19
Subject: What a million now gets you near American University
Anonymous wrote:Anonymous wrote:I live in the neighborhood. I's not uncommon for a family to buy something like this and spend 6-12 months doing a complete renovation before moving in. Of course, a builder may have bought it and will turn around and resell it for $1.7-$2M after doing a renovation plus addition.
$1.7M-$2M for a 4,500 sqft lot and a 1,800 sqft house? Surely, you're joking!
The PP said "plus addition." I'm not an expert in zoning laws, but I believe in DC you can cover up to 60% of your lot with structure, which would allow for a total of 2,700 sq ft house. The $1.7 - $2 m estimate seems a touch high but not too far off.
Anonymous
01/26/2021 14:05
Subject: What a million now gets you near American University
Anonymous wrote:Anonymous wrote:I live in the neighborhood. I's not uncommon for a family to buy something like this and spend 6-12 months doing a complete renovation before moving in. Of course, a builder may have bought it and will turn around and resell it for $1.7-$2M after doing a renovation plus addition.
$1.7M-$2M for a 4,500 sqft lot and a 1,800 sqft house? Surely, you're joking!
Plus addition, yes.
Anonymous
01/26/2021 13:32
Subject: What a million now gets you near American University
Anonymous wrote:I live in the neighborhood. I's not uncommon for a family to buy something like this and spend 6-12 months doing a complete renovation before moving in. Of course, a builder may have bought it and will turn around and resell it for $1.7-$2M after doing a renovation plus addition.
$1.7M-$2M for a 4,500 sqft lot and a 1,800 sqft house? Surely, you're joking!
Anonymous
01/26/2021 12:43
Subject: What a million now gets you near American University
I live in the neighborhood. I's not uncommon for a family to buy something like this and spend 6-12 months doing a complete renovation before moving in. Of course, a builder may have bought it and will turn around and resell it for $1.7-$2M after doing a renovation plus addition.
Anonymous
01/26/2021 12:30
Subject: What a million now gets you near American University
Anonymous
01/26/2021 12:00
Subject: What a million now gets you near American University
Very curious if the buyer is a flipper or someone that will keep some of the original facade at least.
Anonymous
01/26/2021 11:49
Subject: What a million now gets you near American University
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:It is under contract already
It was marketed for a quick sale, so this is unsurprising. Wonder if they’ll keep the house. I can imagine starting from scratch is cheaper.
Why not keep house? As run down as it is a crew or team of folks could have it move in ready in under 90 days. A tear down and rebuild at best one year and wild card in property taxes and permit fees.
Do you know for a fact the house doesn't have serious issues that might not be fixable or would cost substantial sums to fix? I know a bit about the backstory here and I'd be very hesitant about making guesses without a very, very close look.
What is the backstory? A lot of primary homeowners cant afford to rent for 1-2 years waiting on a house to be torn down and permits and unexpected costs while paying for two places and the total uncertainty of the property taxes. I for one have people who do work discreetly and could easily do all the work first that either does not require permits or permits that wont raise taxes like windows and door then do inside, not changing stuff, just new kitchens and new bathrooms and sanding and painting. I am sure if a primary home owner caring for house it will be appreciated and not reported.
Now you have the purchase price as your cost basis, when you sell in 15-25 years you will be selling at that point a historical low tax beautiful home as opposed to a big tacky box built in 2021 that is dated and everything is going all at once.
Dont see how it makes sense for a long term homeowners to tear down a house like that. Yes a flipper yes. Yes a short timer yes, but long term. The original classic house in 2041 will be worth a lot more
It's all a question of how severe the deferred maintenance was. With the exception of one of two houses in AU Park, this is about as worried as I would be about a house's condition. Hopefully all is well (though those columns out front absolutely should go, unless someone has a slyly ironic sense of humor) and the updates needed are only for the cosmetics and the systems and nothing structural has gone wrong.
Anonymous
01/26/2021 10:00
Subject: What a million now gets you near American University
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:It is under contract already
It was marketed for a quick sale, so this is unsurprising. Wonder if they’ll keep the house. I can imagine starting from scratch is cheaper.
Why not keep house? As run down as it is a crew or team of folks could have it move in ready in under 90 days. A tear down and rebuild at best one year and wild card in property taxes and permit fees.
Do you know for a fact the house doesn't have serious issues that might not be fixable or would cost substantial sums to fix? I know a bit about the backstory here and I'd be very hesitant about making guesses without a very, very close look.
What is the backstory? A lot of primary homeowners cant afford to rent for 1-2 years waiting on a house to be torn down and permits and unexpected costs while paying for two places and the total uncertainty of the property taxes. I for one have people who do work discreetly and could easily do all the work first that either does not require permits or permits that wont raise taxes like windows and door then do inside, not changing stuff, just new kitchens and new bathrooms and sanding and painting. I am sure if a primary home owner caring for house it will be appreciated and not reported.
Now you have the purchase price as your cost basis, when you sell in 15-25 years you will be selling at that point a historical low tax beautiful home as opposed to a big tacky box built in 2021 that is dated and everything is going all at once.
Dont see how it makes sense for a long term homeowners to tear down a house like that. Yes a flipper yes. Yes a short timer yes, but long term. The original classic house in 2041 will be worth a lot more
Anonymous
01/26/2021 08:43
Subject: What a million now gets you near American University
Anonymous wrote:Anonymous wrote:Anonymous wrote:It is under contract already
It was marketed for a quick sale, so this is unsurprising. Wonder if they’ll keep the house. I can imagine starting from scratch is cheaper.
Why not keep house? As run down as it is a crew or team of folks could have it move in ready in under 90 days. A tear down and rebuild at best one year and wild card in property taxes and permit fees.
Do you know for a fact the house doesn't have serious issues that might not be fixable or would cost substantial sums to fix? I know a bit about the backstory here and I'd be very hesitant about making guesses without a very, very close look.
Anonymous
01/26/2021 07:53
Subject: What a million now gets you near American University
Anonymous wrote:Anonymous wrote:It is under contract already
It was marketed for a quick sale, so this is unsurprising. Wonder if they’ll keep the house. I can imagine starting from scratch is cheaper.
Why not keep house? As run down as it is a crew or team of folks could have it move in ready in under 90 days. A tear down and rebuild at best one year and wild card in property taxes and permit fees.
Anonymous
01/26/2021 05:33
Subject: What a million now gets you near American University
Anonymous wrote:It is under contract already
It was marketed for a quick sale, so this is unsurprising. Wonder if they’ll keep the house. I can imagine starting from scratch is cheaper.
Anonymous
01/26/2021 03:31
Subject: What a million now gets you near American University
I want that Milwaukee house. Damn!
Anonymous
01/26/2021 02:43
Subject: What a million now gets you near American University
What it always did: a toxic dump!