Mrs. Gibb’s house is no longer popping up on Redfin so that leaves me to gather that it is under contract. I hope that goes well. The house next to hers (yellow house in picture), 1628 3rd Street, is up for sale for the sweetheart price of $284,900, I wonder what’s wrong with it? It’s advertising itself as a 3 bedroom 1 bath “bayfront Victorian showing age and in need of a redo. Classic floorplan, everything painted, but orig mantels, 2 sets of pocket doors in place.”
The two 4th St NW houses that were on the market, then went off the market, are back on. This time it says that the renters were given right of first refusal. Now even though the renters can’t and don’t want to buy the houses, it’s nice (and legally required) to be asked. The prices for the rentals, still high, and I’ve been told about some ‘issues’ with one of the houses, that would need to be addressed. Knock the price down by $30- $50K as they will both eventually need work.
There is another house in the hood that I really want sold. Ok, not just sold, fixed up but owner occupied. But what can I do as a 3rd party? I’m seriously thinking of making up fliers to try to get that damned house sold, as it is becoming a nuisance.
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To start, that house on 3rd is a foreclosure that was purchased for $480k last March. Additionally, by the looks and sounds of the listing, no investor/flipper is going to be buying a rehab at 70% market value right now, especially the way the market is being publicized by the national papers. While I admit its bad, DC is fairing relatively well compared to the rest of the nation. My two-cents: Keep that price below $370k on the flip and it will work out. But take the $370k and subtract costs and it doesnt make much sense.