The rowhouse located at 1229 16th St NE is being offered at 350K. It has "Newly renovated four bedroom two bath semi-detached brick row house featuring CAC and heat, new carpet, new kitchen and bath, ceiling fans, off-street parking, and more! One year home warranty." The rowhouse is located in Trinidad.
Trinidad is a high crime area. There has been a very very minimal amount of gentrification.
The house was bought for $350,000 on 8/26/2005 which was just over 3 months ago. It was bought presumably by a speculator who is trying to flip it. Although it looks like the speculator put some work into it ( unless the previous owner put money into) he is still try to sell it for the same price he paid for it 3 months ago.
The current owner most probably bought it thinking that the housing boom would continue for awhile. Now, realizing the boom is over he is now trying to bail without too much of a loss.
Will it sell at this price? Nope.
Saturday, December 10, 2005
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