Thursday, January 05, 2006

New Condo Next to Metro Station


On my way to work this morning I snapped the above image of a new condo development abutting the Takoma Metro Station.


In this condo development owners who bought are selling 2br 2.5 bath units for 459K. MLS #DC5468486 .

Will it sell at 459k?

Probably not. It is a convenient location. But 459K is huge amount to pay for a condo in an alright area.

7 comments:

  1. Yeah, "alright" is a good word.

    You do have the metro, and you are close to Takoma Park, Silver Spring, and Catholic U.

    But you are also close to some high crime areas, and the immediate area is not renovated yet (work in progress).

    Besides that, it's a frickin' condo! Condos don't cost $459K!

    The interesting question is if it is investor or developer owned. I would think a developer would more quickly adjust price downward.

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  2. Investor owned. Developer has old out.

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  3. That's interesting. It will be interesting to see what price it eventually sells at.

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  4. There's a great DC-area bubble article at Business Week. The bubbleistas are sticking it hard to the few remaining bulls in the comments.

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  5. if you buy there your place will be rocked a few times a night when the freight trains roll on by. and it will be generally loud when other trains go by.

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  6. That's pushing close to $100 a night to offset the interest. Why not cut a deal with a decent hotel/motel near a metro stop for five nites a week and go see your bunk-buddy for the weekends?

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  7. LOL. That really puts things in perspective, Chip. Plus they'd clean it for you!

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