Comments on: It’s Time to Play Good Deal or Not?

By: Harris

Harris — Fri, 27 Jun 2008 17:15:50 +0000

I live on that block – that price is a joke.

By: anon

anon — Fri, 27 Jun 2008 04:10:34 +0000

re: Herb

Agree. There are other places *within a block* that are cheaper, so it’s kind of silly to think that price will fly. And to add to the discussion: Someone would have to irrationally fall in love with that house in order to buy it at that price. Impossible? No. Remotely likely? No. But, I have no clue whether strategically it makes sense to shoot for the stars for the first 2-3 weeks it is on the market or not. Is it good to say that you’ve “already dropped the price”? No clue. But it is unmistakeable that it will not sell for that price.

By: Herb

Herb — Thu, 26 Jun 2008 23:12:20 +0000

“I don’t think it’s a bad deal, for the record”

There are larger homes on better blocks very close to this house that are not selling even at a lower price. This is very overpriced given the curent market.

By: RDurr

RDurr — Thu, 26 Jun 2008 21:41:34 +0000

>>“it’s pretty clear they set the price at what they “need” instead of what it is worth.”

>>So they want to at least attempt to avoid taking a loss. What MONSTERS!!! Gimmie a >>break RDurr…

I didn’t say there bad people. However, I would venture to say they are unrealistic and naive if they think their property appreciated, when they bought it at the peak of the market. I’m guessing i hit a chord here. Buy your house in 05-06?

By: shaw rez

shaw rez — Thu, 26 Jun 2008 21:30:10 +0000

I don’t think it’s a bad deal, for the record. I think that’s a great location, near St. X, the new restaurant Policy, a few blocks from whole foods, the 14U farmers’ market, etc. I think that price represents fair market value for small row homes with parking in dupont/logan.

By: RCR

RCR — Thu, 26 Jun 2008 20:50:47 +0000

Well you can’t buy at the peak and sell at the valley and not expect to take a loss. That’s just silly. But I agree, it’s incredibly overpriced.

By: FourthandEye

FourthandEye — Thu, 26 Jun 2008 20:16:45 +0000

>>“it’s pretty clear they set the price at what they “need” instead of what it is worth.”

So they want to at least attempt to avoid taking a loss. What MONSTERS!!! Gimmie a break RDurr…

By: Anonymouse

Anonymouse — Thu, 26 Jun 2008 18:23:48 +0000

I love looking at the tax records for the last sale price and then seeing what people are trying to sell the property for now in the current real estate cycle.

My current favorite is a shell that is on 15th and T at 1840 15th St. It’s been on the market for about 3.5 months, currently for $594,500; and it is described in the listing as “essentially a SHELL” (emphasis theirs). You look at the tax records, and it was sold to a property holding company in Sept 2007 (so maybe a few months earlier, due to DC gov’t delays in data entry) for $499,000. So, the holding company has done NOTHING to it in the about 10 months they’ve owned it, and they expect a $100k mark-up!!?!!? What scam artists! In this or any market, shame on them!

By: RDurr

RDurr — Thu, 26 Jun 2008 17:33:45 +0000

Lol at them calling that Dupont. And $770k for two bedrooms? keep dreaming. Looking at the tax records, I see the current owners bought it at the peak of the market in late ’05 for 740k. So it’s pretty clear they set the price at what they “need” instead of what it is worth.

By: Anonymouse

Anonymouse — Thu, 26 Jun 2008 16:03:59 +0000

Overpriced. The “finished lower level” is maybe 6 feet high—no joke.