Wednesday, January 11, 2006

Update: 8300 Hartford

The house located at 8300 Hartford in Silver Spring, MD still has not sold. It has been reduced once again to 550K from 559K. The house was originally listed at 599K.

See previous posts:

8300 Hartford Avenue - December 12
Still Not Selling in Silver Spring - November 30
Falling Leaves, Falling Prices II - November 13
8300 Hartford Avenue, Silver Spring, MD - October 9th

Will it sell at this new reduced price?

The seller seems to be chasing the market down.

12 comments:

  1. Ahh - found the listing...
    http://realtor.com/Prop/1054093838

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  2. What about the one nearby, did that ever sell?

    I think these price reductions still show a strong denial of reality. 9000 is just not a large reduction.

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  3. So he's reduced his asking price about 8% since it was listed? I wonder if he'd have been better off taking 15% off the price back in Nov/Dec? Better to be a step ahead of the market than a step behind.

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  4. I know people that have sold their homes, cashed out and moved to San Antonio, North Carolina, South Carolina, Richmond.

    The people buying RE in the D.C are right now are at the bottom of the Ponzi scheme.

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  5. $560k in Oct would have sold, maybe even with a bidding war. Since then the owner has paid over $10k in PITI. He's lost $20k and 4 months through greed. Now it is too late. He'll need to carve out another $20k either through reductions or more time on market or a combination.

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  6. David, just got an email from the Rialto at Logon Circle condo developers. Check it out- Condo went "POOF":

    Subject: Important Information Regarding The Rialto

    THE RIALTO PROJECT HAS BEEN CANCELED. Due to circumstances beyond our control,
    Monaco Development has elected not to proceed with The Rialto project. All of
    us at Monaco Development sincerely apologize for any inconvenience this may
    have caused and we appreciate your patience and understanding during this
    time. We invite you to visit our website at www.monacodev.com to learn about
    our future developments in the DC metro area and around the Country. Most of
    all, we wish you a safe and prosperous New Year.
    www.rialtocondos.com The Rialto at Logan Circle


    This email was sent by: The Mayhood Company

    1420 Beverly Road, Suite 200
    McLean, VA, 22101,
    United States

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  7. Anon,

    Wow. That is an amazing email about the cancellation of a condo project.

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  8. Given enough time, they'll chase this thing under $450K to sell it.

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  9. what a dummy..why go thru the motions and pain...just sell it at 200 k and get done w/ it...

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  10. In the past year every stripper I've talked to (and i've talked to a lot) has complete faith that housing always goes up. Word in the NYC stripper community is that Harlem is the next boomlet in Manhattan island's saga of rising prices. Now many of these dancers are very nice and hard working, but i wouldn't exactly call them smart money when it comes to making investments.

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  11. Au contrair, the strippers are the "smart money" taking money from fools who want their services.

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  12. According to the Maryland Tax Assessment site. Link:

    http://sdatcert3.resiusa.org/rp_rewrite/results.asp?streetNumber=8300+&streetName=Hartford&county=16&intMenu=2&SearchType=Street&submit4=SEARCH

    This house sold for:

    $403,000 On 01/29/2004
    $275,000 On 06/14/2001
    $177,777 On 12/16/1992

    Based on these real numbers do you think it should go for $200,000 (33%) more just 2 years later?

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