Thursday, October 06, 2005

Update: House in My Neighborhood

Back on September 11, I posted about a junky house in my neighborhood. In September, it was listed at 489,000 which was a reduction from the original listing price of $545,000. Now, it has been reduced again to 485,000. The MLS ID is #MC5402435 . Keep on falling. I should call the realtor and suggest a listing for 449,000.


  1. It is still a dump at 485K

    It goes to show how inflated this bubble is- at 385K it is overpriced.

  2. It must be a real gem to recommend the possibility of tearing it down.

  3. Got a courtesy card from a local real estate office here in central Connecticut- the letter spoke of 'high hopes' for a 'busier Autumn' saying the summer was 'slower then expected'. Evidence appears in the local listings in more lisings, and properties staying on the market for a much longer time then 5 months ago.x

  4. The masses will soon know it is that the market is no declining in the bubble markets.

    We have a front row seat here in blogosphere.

  5. I live 2 blocks away (1 block from metro) from that house, my rent is $1490 for a 4/2. Moved in couple of months ago. Why would any one buy?

  6. As a lurker here, my favorite stuff on your blog is when you go out into the DC area and show us these houses.

    I grew up in the DC area, and loved it. I left in the early 90s and came back in the very late 90s. It's much worse now. Crime in places where there was no crime before (the legendary DC crime of the 80s was very geographically concentrated), traffic absolutely insane, and every green empty area paved over. On top of all that, the area is awash in yuppies from all over the country with no respect or loyalty to the area.

    The comedy, then, comes with the house prices. In neighborhoods like the one I grew up in, that were considered working class 30 years ago, the exact same houses now cost five or six times the average area salary- for 50-80 year old, small houses in higher-than-before crime, insane traffic, no community, and no green space areas.

    It's totally nuts. The only consolation for me is that some of the old time residents got to get a nice retirement by fleecing the arrogant newcomers.

  7. "As a lurker here, my favorite stuff on your blog is when you go out into the DC area and show us these houses"

    Thanks. For that comment, I will go out this Sunday and check out a house or condo.

  8. My hometown the DC area

    but, the region is so bewash in materialism, false values, that I would never live there now.
    Traffic was bad when I was last there in 2001, and now with high housing prices, more traffic and congestion, what is the quality of life? Not much.