Sunday, October 09, 2005

8300 Hartford Avenue, Silver Spring, MD

8300 Hartford which is just down the block from 8406 Hartford, which I previously blogged about, was just listed at 599,000. It is a lovely house. The MLS ID is MC5402312. The house was built in 1979. The owner is leaving because of a "job transfer" to Philadelphia.

According to the realtor the "market is generally changing" and is "much more sane" then it was in the spring. He agreed that inventory is "increasing." The realtor has been in the business for 5 years. One of the house browsers commented that after seeing the 8406 Hartford Avenue house ( down the block) commented that "No one would buy the other house if they saw this one."

Will it sell at 599K in a reasonable time? Possibly.

6 comments:

  1. It may sell at that price, but not to me. Another old house on a small lot. Good luck to the owners... I think they are getting on one of the last life rafts. I think you are right that this one might sell as some people jump the gun, but I wonder if something like this will still sell for the same price in a year.

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  2. A nice home- at just under 600K- I would imagine it should sell in a reasonable amount of time.

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  3. "but I wonder if something like this will still sell for the same price in a year"

    It will not. :-)

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  4. I'd say the price in a years' time could be more like 499K instead of 599K IF it remains unsold... but it won't go for any less due to Beltway proximity. Ya never know...

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  5. David's comment....
    "but I wonder if something like this will still sell for the same price in a year"

    is probably true. From the evidence I am seeing, Lereah's 'rolling boom' could be turning into a 'rolling bust'
    seems that both California and the Northeastern megalopolis are cooling rapidly. If inventory continues to climb, as do interest rates- next spring could see prices begin to decline at a faster pace- it could be a bath for RE and the general economy.

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  6. The owners don't think so: it's listed at 579K now.

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