Sunday, December 11, 2005
1228 Walter St SE
1228 Walter Street SE is available for sale at 549K. It is in Washington, DC proper.
Map of location.
Here is the Craigslist posting
To see more pictures go this site.
It is located in a nice gentrified area east of Capitol Hill. Although, it is relatively near the gentrification frontier.
Aerial view of Walter St SE. Image taken from MSN Virtual Earth.
The property was bought on 1/29/2001 for 235K. Renovation was most probably done.
The real estate agent, Joe, was a friendly fellow. He was internet savy as he had built a website to market his properties. The house is very narrow at about 11.5 feet wide. I was in the house touring and chatting to Joe for about 20 minutes. No one came in to look. The house has been on the market for 20 day now. Apparently, 45 days is now the average for a similiarly priced house in this neighborhood.
One of the handouts was a sheet showing the 'monthly cost.' There were three examples 5%, 10%, 20% were the down payments. On all of three payment examples an 5/1 ARM /IO was taken out.
Will is sell at 549K price? It is a pretty cute house located in a reasonably well gentrified area. However, 549K is high for such a small house in this neighborhood. The asking price needs to be reduced.
Posted by David at 1:09 PM