Home Prices Coming Back Down to Earth?

Here is a rowhouse I saw for sale on Craig’s list. It is going for $378,000 and is a 3 bedroom 1 and a half bath located on Upshur. And it is a “very clean brick home”. I don’t think I’ve ever seen a home listing that mentioned “very clean” in it before. But I suppose that is a good thing. Does that cost extra?

8 Comment

  • “Very clean” is realtor-speak for “no corpse stench coming from floorboards.” Kinda like how “fixer upper” means “no walls” and “motivated seller” means “the cops are on to me.”

    Get back to me when Recession ’08 is in full swing, then we’ll talk bargains. And none of this sorry-ass “Free DVD Player that we got for $20 at Walmart.com at closure!”

  • Let the prices fall. I’ll be there to buy more.

  • “Very clean” would be a significant step up from some of the hellhole rowhouses I viewed when I was looking a few months ago. Some where so bad I felt like I needed to immediately shower in scalding water upon leaving.

  • prices are no down. this house is selling for $276/sq ft. the house up the street which is 3x bigger is selling for only $166 sq ft including a rental unit. chk it out – Virtual Tour can be found online at http://www.homevisit.com/tour/vtour.asp?id=28286

  • Jeff- that is an awesome house! Curious to know if people think that price is too high for that house/location (I don’t, but opinions vary widely on here on real estate prices).

  • Been inside that house and I wasn’t impressed. The owner bought it recently, did basic touch up and some unsightly renovations (drop ceiling in the kitchen?!) and is now trying to sell with not much curb appeal.

    Good luck to him at this price in any market.

  • I was just discussing this yesterday with a friend who’s in real estate. Prices in Petworth seem to be going back to a reasonable range, which I believe to be in the $300K neighborhood and below. I too have seen some horrible rowhouses that have made me go home to wash my hands. The house I’m referring to was in the high $200 K range. I hope the days of $500,000 houses in Petworth, unless they’re mansions, are over.

  • well kudos to a real estate market that at least inspires people to clean the house first. I bought at the end of the peak and looked at many houses that were just hideous. a particularly memorable one was a former rental in shaw with filthy carpet and a big dog (?) poo in the center of the living room floor. i left quickly. but was later sad i didn’t document it with a photo.

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