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Friday, December 17, 2010
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21 comments:
what do you think of the potential of this house? i know it's in the shadow of the WETA radio tower so it's a turn off for most... what other good/bad do you see?
Ace,
I saw this $1MM home on cragislist listed FSBO for ~$980K. I guess in the end the owner made out OK using a realtor. Is it on par with other $1MM recent comps?
MM-
Although the radio tower is close at least it is a block away so its probably not the end of the world. The yard for the house is a pretty good size, but the rooms (particularly the bedrooms) look tiny.
MM,
Not to be a "creeper", but I would appreciate a response from yesterday.
Thoughts on this home?
http://franklymls.com/AR7469462
I actually toured it in Sept 2009 when I was looking. The backyard is substantially sloped, the kitchen is very awkward, and the home is about 2 lots away from 66 and the above ground portion of the Orange line metro. (Read it's LOUD.)
I'm surprised it sold for what it did, however, I also feel this is helping to put a floor in for all of the small brick colonials in 22205 and 22203.
My $0.02
Va_Investor,
my belief is without the gov't printing bail out money most investors would get burned because things'd get much worst and there'd be very few owner-occupant buyers. 2005/6 all over again.
FWIW.
My $0.02,
interests rate played a role? (don't recall what it was in Sept 09.
housebuyer,
true to sf. would need to put a family room addition behind kitchen. there's room for that i think.
Well MM,
Seems that "luck" has struck again. Yes, those lucky (greedy) sons of guns jumped into the swirling seas of late 2008 knowing they would be bailed out by Uncle Sam.
Somehow others (you perhaps?) wisely built bunkers and stocked MRE's only to get screwed once again.
MM,
Don't delete. I can take it.
I wasn't flipping homes in Sterling (although I should have been).
I was actually quite happy to see what I reported yesterday. Happy on many levels. None having to do with my personal net worth or any back-patting.
I don't deny that money was the motivator, not altruism. I do fail to see your point with respect to the bail-out.
Some people see opportunity, weigh the risk and either act or not. Do you see ill-gotten gains?
I really am having trouble seeing things from your perspective.
This is amazing.
http://franklymls.com/FQ7331559
Harriet,
That is very cool and not a bad location. That would be terrific for a family business and family subdivision (by-pass zoning). I'd have to imagine that would be right up someone's alley.
I wonder what their financials on the business are. Of course I would kill everything within a few months (brown thumb).
Search AOL for: The Best Housing Markets of the Decade
Illuminating article.
priceless!
I guess your stable of doomer's is getting pretty thin.
http://www.nytimes.com/2010/12/12/realestate/12njzo.html?_r=1&source=patrick.net
anyone have data on shadow inventory in DC?
Contrarian-
You have been a more consistent voice of doom than Dr. Doom. We are still safe to buy as long as you aren't :-p
Contrarian I either never saw or can't remember what type of property you sold, where it was and the price and what type of property you want to buy, what location and the price range.
MM Same question for what you want to buy. You are all over the place with prices. As you know different price ranges have different levels of demand that will affect prices. I will say don't buy the house under the radio tower. It is loaded with cell phone receivers and you will never have good telephone, radio, TV reception.
MM, re: the house near WETA, I would just reiterate my same old theme - I don't think small Arlington houses are a good value - you are paying so much for the land and will likely feel very constrained by the lack of house space. If you update small houses, you may not get your money back as readily as for larger houses, and it's VERY expensive to add on (much less expensive to redo existing space, which you don't have in a small house). And due to transaction costs and the possibility of a loss on the place, you don't want to plan to stay a few years and then move.
So if I were looking to spend $500K and had to have a SFH, I would either look in So. Arlington (which I know you are also considering) and get a larger place, or consider different tradeoffs between the commute and the space.
Re: the $1MM house, I think that's a fair price--it's on the smallish side and farther out there than some, no garage, but it's semi-near a metro, the room sizes look good, and there are lots of $$ updates (not my taste but very popular choices). Looks as though they didn't reach the right audience through craigslist. That Realtor does a lot of Arlington business.
ps It's also on a very large (for Arl.) and flat lot. All in all a very practical house for a family.
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