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Good Deal or Not? Weekly Wed. House Porn “gorgeous center-hall home” edition

This house is located at 1250 D Street, SE:

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The listing says:

“Enormous, semi-detached Hill home, beautifully renovated with stunning architectural details! This former corner store features a gourmet kitchen, spacious laundry room, private deck and driveway, fully-finished basement apartment, and more! In a sea of row houses, this gorgeous center-hall home is a sight for sore eyes. All this, and just a few minute’s walk from Eastern Market and 8th Street!”

You can see more photos here.

This 5 bed/3.5 bath is going for $1,448,777.

Category: Capitol Hill, Real Estate

By: Prince Of Petworth | 22 August 2012 1:00 PM | 10 Comments

Anonymous

This house has been on and off the market since approximately March of this year. The price has come down from original asking of $1.575. I’ve been through the house and it is huge, especially for a Capitol Hill house, and it has very nice finishes. However, it is doubtful that it would appraise for the asking price.

August 22, 2012 at 1:07 pm
- Anonymous
  
  Houses in this price range don’t seem to do well in Capitol Hill. There’s one at 9th and North Carolina that was on the market for about a year and a half– I think the owner gave up and is renting it out as a group house now. The $700-900k homes are going like hotcakes but I guess there aren’t a lot of potential buyers when you get up past a million.
  
  August 22, 2012 at 1:19 pm
  - fitness821
    
    Yup, and the yard of the 9th and North Carolina Ave house looks like a complete mess with all the bikes, chairs and workout equipment.
    
    August 22, 2012 at 1:31 pm
    - Anonymous
      
      Haha, yep, that was my clue that it was a group house.
      
      August 22, 2012 at 1:54 pm
- Anon
  
  Yeah, house went on the market in february. I walked the place, and they did indeed do a nice job, but there is simply no way they are going to get that for this house.
  
  Considering they bought the house for $140K in 2000, I don’t know why people (and I see this frequently with listed houses in DC) put themselves through the pointless exercise of overpricing your house and letting it sit?
  
  It is simple, the longer the place is on the market, the worse it looks and the harder it becomes to sell. People who are looking, can see its been on the market for nearly 7 months, and with DC’s housing market 7 months is an eternity.
  
  I know everyone is entitled to make as much money as possible from their house and I am not recommending someone take less than they deserve, but the house was and is clearly overpriced, substantially. They could have originally priced it for 1.2-1.3 million, it would have sold in a week and the people would have walked away 30 days later with a million dollars in the bank. Is putting your life on hold, and living in limbo for so long worth it for the off chance of another 75-100K when you already have a million dollars waiting for you?
  
  I just don’t get it.
  
  August 22, 2012 at 1:26 pm
phillygirl

I often wonder who has this type of money.

August 22, 2012 at 1:16 pm
DCRez2012

I think the house is probably worth about in the 1.4 range. There have been several recent sales north of 1.25 in recent months on the Hill, all of which have been smaller than this place. I wonder if its location across the street from playing fields is impacting the sale.

August 22, 2012 at 1:29 pm
- Nicoli
  
  That’s my guess. I live a block and a half away and there is a fair amount of noise and traffic there on the weekends especially when there are football games. Also, the basketball courts are lit up at night till I think 9pm (not sure), which might be annoying. If I had $1.4 to drop on a home, I’d do it elsewhere.
  
  August 22, 2012 at 1:47 pm
- anon
  
  that price seems more suited to the western portion of the Hill but maybe I’m missing something. . . I live close by and don’t feel like I’m the right kind of neighbor for a $1.5 mil homeowner
  
  August 22, 2012 at 4:00 pm
ET

Like an earlier post this house has been mostly on the market for something like 5 months (if it was off the market the sign never came down). It was originally put in for way over one mill and the price listed doesn’t indicate much price reduction so I would say it wasn’t worth it.

Also there is a school yard with open basketball and soccer/football field so there is quite a bit of activity that someone who almost pays $1.5 mil may not want to live across the street from.

The owners are going to have to come down more – I would say a bit more – before there was an uptick in activity. I live a block away and this weekend they had someone out fixing up the yard so they are obviously going to try and push this again.

August 22, 2012 at 4:38 pm