Comments on: Good Deal or Not? Up on a Hill Edition http://www.princeofpetworth.com/2009/01/good-deal-or-not-up-on-a-hill-edition/ Welcome to the beautiful life Fri, 10 Feb 2012 01:36:51 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Anonymous http://www.princeofpetworth.com/2009/01/good-deal-or-not-up-on-a-hill-edition/#comment-2324 Anonymous Wed, 14 Jan 2009 00:19:04 +0000 http://www.princeofpetworth.com/2009/01/good-deal-or-not-up-on-a-hill-edition/#comment-2324 Considering there's a rowhouse on the 1300 block with an asking price of $325K, I'd have to say that this is highly overinflated. Sure, the rowhouse in question isn't renovated, but you could put 100K into the cheaper rowhouse and come out ahead. NO THANKS! Considering there’s a rowhouse on the 1300 block with an asking price of $325K, I’d have to say that this is highly overinflated. Sure, the rowhouse in question isn’t renovated, but you could put 100K into the cheaper rowhouse and come out ahead. NO THANKS!

]]> By: Ross http://www.princeofpetworth.com/2009/01/good-deal-or-not-up-on-a-hill-edition/#comment-2323 Ross Fri, 09 Jan 2009 20:15:38 +0000 http://www.princeofpetworth.com/2009/01/good-deal-or-not-up-on-a-hill-edition/#comment-2323 I wouldn't worry too much about an appraisal marketsdropping -- they tend to be pretty unreliable. For example, bought my petworth house three months ago for $499, had it reappraised yesterday for a refinancing, and it was up $25,000. So, who knows, but I wouldn't worry too much. I wouldn’t worry too much about an appraisal marketsdropping — they tend to be pretty unreliable. For example, bought my petworth house three months ago for $499, had it reappraised yesterday for a refinancing, and it was up $25,000. So, who knows, but I wouldn’t worry too much.

]]> By: marketsdropping http://www.princeofpetworth.com/2009/01/good-deal-or-not-up-on-a-hill-edition/#comment-2322 marketsdropping Fri, 09 Jan 2009 18:16:53 +0000 http://www.princeofpetworth.com/2009/01/good-deal-or-not-up-on-a-hill-edition/#comment-2322 I just had my renovated house apparaised (including brand new kitchen with the works, AC, new rubberized main and porch roofs, new ceramic tiled basement floor and basement kitchen, new bathroom fixtures, plumbing and wiring), to get a lower interest rate and after getting the results. It was appraised at 375K and I'm frankly very pessimistic about selling anything over $400K. Not saying my place is directly comparable to this one, just was a little bit of a surprise. Just an idea of how things are changing, I also refinanced in Feb '08 to get out of a 5 yr interest only ARM and at that time my place appraised for $420K with an outside appraisal only, those are now, of course, not allowed anymore. And I do understand that apprasials given for refi as opposed to selling may be different but they shouldn't be. Bright side is I have more ammo to fight my property appraisal this year. I just had my renovated house apparaised (including brand new kitchen with the works, AC, new rubberized main and porch roofs, new ceramic tiled basement floor and basement kitchen, new bathroom fixtures, plumbing and wiring), to get a lower interest rate and after getting the results. It was appraised at 375K and I’m frankly very pessimistic about selling anything over $400K. Not saying my place is directly comparable to this one, just was a little bit of a surprise. Just an idea of how things are changing, I also refinanced in Feb ’08 to get out of a 5 yr interest only ARM and at that time my place appraised for $420K with an outside appraisal only, those are now, of course, not allowed anymore. And I do understand that apprasials given for refi as opposed to selling may be different but they shouldn’t be. Bright side is I have more ammo to fight my property appraisal this year.

]]> By: andrew http://www.princeofpetworth.com/2009/01/good-deal-or-not-up-on-a-hill-edition/#comment-2321 andrew Fri, 09 Jan 2009 15:15:30 +0000 http://www.princeofpetworth.com/2009/01/good-deal-or-not-up-on-a-hill-edition/#comment-2321 i went in there and looked at it on an open house a while back. first, i was just shocked at the price. the renovations are nice, but many things struck me as overkill. it's interesting in comparison to one right around the corner: http://franklymls.com/DC6937009 no photos, unfortunately. saw it when it was on the market: its on the end of the row, with lots of side windows. new kitchen, refinished floors, but nothing too extensive done to it. plus a two-car garage, and it's on a street that dead-ends into rock creek park. the shepherd street house went under contract in 10 days. the taylor street house--no garage, sitting on a frequently-used cut-through street from piney branch to 14th--is still sitting on the market. i'd be willing to bet this house two blocks up on varnum goes quicker, even at $589K: http://franklymls.com/DC6940430 same thing, but more traditional style, plus a garage, listed 60K less. mainly, i think that the taylor st. house is a vestige of the old housing market. it probably would have sold if it were 5 or more blocks south. it's just too modern and overdone for 16th st. heights. i went in there and looked at it on an open house a while back. first, i was just shocked at the price. the renovations are nice, but many things struck me as overkill.

it’s interesting in comparison to one right around the corner:
http://franklymls.com/DC6937009
no photos, unfortunately. saw it when it was on the market: its on the end of the row, with lots of side windows. new kitchen, refinished floors, but nothing too extensive done to it. plus a two-car garage, and it’s on a street that dead-ends into rock creek park.

the shepherd street house went under contract in 10 days. the taylor street house–no garage, sitting on a frequently-used cut-through street from piney branch to 14th–is still sitting on the market.

i’d be willing to bet this house two blocks up on varnum goes quicker, even at $589K:
http://franklymls.com/DC6940430
same thing, but more traditional style, plus a garage, listed 60K less.

mainly, i think that the taylor st. house is a vestige of the old housing market. it probably would have sold if it were 5 or more blocks south. it’s just too modern and overdone for 16th st. heights.

]]> By: bogfrog http://www.princeofpetworth.com/2009/01/good-deal-or-not-up-on-a-hill-edition/#comment-2320 bogfrog Thu, 08 Jan 2009 23:37:43 +0000 http://www.princeofpetworth.com/2009/01/good-deal-or-not-up-on-a-hill-edition/#comment-2320 @springroadintoaction -- the 322 Webster listing is a better deal, but I don't think it fits what Jamie is describing. Although I don't know Jamie, I think we both like to see original molding, floors, stairways, banisters, and room layout. What updates a beautiful old house is spare furnishings or choice of art/artifacts. @springroadintoaction — the 322 Webster listing is a better deal, but I don’t think it fits what Jamie is describing. Although I don’t know Jamie, I think we both like to see original molding, floors, stairways, banisters, and room layout.

What updates a beautiful old house is spare furnishings or choice of art/artifacts.

]]> By: PetworthRes http://www.princeofpetworth.com/2009/01/good-deal-or-not-up-on-a-hill-edition/#comment-2319 PetworthRes Thu, 08 Jan 2009 21:44:03 +0000 http://www.princeofpetworth.com/2009/01/good-deal-or-not-up-on-a-hill-edition/#comment-2319 springroadintoaction Says: And, to answer the question, $649K is WAY too much for a 3BR in that location. I’d think closer to 400-450. Maybe. . . . . . . . . . . If this house were in Petworth proper, the fair price probably would be in the $400s, but the area closer to 16th St has always sold for more. It's obviously overpriced now at $649K or someone would have bought it, but my bet would be that it sells for around $600K or a little under. While I'm not into such super modern renovations (and am with everyone on wondering what happened to the porch!), it looks well done with a really nice kitchen, central air, nice backyard - the works. springroadintoaction Says:
And, to answer the question, $649K is WAY too much for a 3BR in that location. I’d think closer to 400-450. Maybe.
. . . . . . . . . .

If this house were in Petworth proper, the fair price probably would be in the $400s, but the area closer to 16th St has always sold for more. It’s obviously overpriced now at $649K or someone would have bought it, but my bet would be that it sells for around $600K or a little under. While I’m not into such super modern renovations (and am with everyone on wondering what happened to the porch!), it looks well done with a really nice kitchen, central air, nice backyard – the works.

]]> By: vonstallin http://www.princeofpetworth.com/2009/01/good-deal-or-not-up-on-a-hill-edition/#comment-2318 vonstallin Thu, 08 Jan 2009 21:33:58 +0000 http://www.princeofpetworth.com/2009/01/good-deal-or-not-up-on-a-hill-edition/#comment-2318 Pennywise Says: January 8th, 2009 at 2:49 pm Does it have a toilet in the shower? Anonymous Says: January 8th, 2009 at 2:50 pm @pennywise: !! if it did, it would be listed for $1.2m. ------------------------------------------------------------------------------ LOL, the secret is now out.... Put a sh*tter in the shower and prices start at 1.2 million... haaaaa thanks for the belly hurting laugh im having at work.... Pennywise Says:

January 8th, 2009 at 2:49 pm
Does it have a toilet in the shower?

Anonymous Says:

January 8th, 2009 at 2:50 pm
@pennywise: !! if it did, it would be listed for $1.2m.

——————————————————————————

LOL,
the secret is now out….
Put a sh*tter in the shower and prices start at 1.2 million…
haaaaa
thanks for the belly hurting laugh im having at work….

]]> By: Anonymous http://www.princeofpetworth.com/2009/01/good-deal-or-not-up-on-a-hill-edition/#comment-2317 Anonymous Thu, 08 Jan 2009 19:50:42 +0000 http://www.princeofpetworth.com/2009/01/good-deal-or-not-up-on-a-hill-edition/#comment-2317 @pennywise: !! if it did, it would be listed for $1.2m. ;) @pennywise: !! if it did, it would be listed for $1.2m. ;)

]]> By: Pennywise http://www.princeofpetworth.com/2009/01/good-deal-or-not-up-on-a-hill-edition/#comment-2316 Pennywise Thu, 08 Jan 2009 19:49:31 +0000 http://www.princeofpetworth.com/2009/01/good-deal-or-not-up-on-a-hill-edition/#comment-2316 Does it have a toilet in the shower? Does it have a toilet in the shower?

]]> By: Anonymous http://www.princeofpetworth.com/2009/01/good-deal-or-not-up-on-a-hill-edition/#comment-2315 Anonymous Thu, 08 Jan 2009 19:46:38 +0000 http://www.princeofpetworth.com/2009/01/good-deal-or-not-up-on-a-hill-edition/#comment-2315 Totally Over-Built for that location. Totally Over-Built for that location.

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