Update II: 716 5th Street ,NE - Reduced Again

The large renovated rowhouse located at 716 5th Street ,NE in Washington, DC has still not sold. Originally it was listed at 975K, then reduced to 925K, and now it has been reduced once more to 850K.

Original Bubble Meter Post (9/25/05)

Updated Bubble Meter Post (12/29/05)

Latest Craigslist Post

The Craigslist Post reads "PEN HOUSE, SUNDAY, JANUARY 29 2PM - 4 PM
SUCH A STEAL! This 6 BR, renovated home has mulitple bedrooms, parking, granite kitchen, original floors, and a 1 BR rental in basement. If you need the room, this house has it! Central Air, Radiator Heat, 3.5 baths, private patio, and room, room, room, ROOM! Right off of H street, where the next big renaissance is happening ( check out all the new business/ residential/ community plans!) REDUCED TO $850,000. Per Square Foot, THIS is the BEST VALUE ON THE HILL! "

So will it sell at the reduced price of 850K?

Possibly. I bet the reat estate agent is becoming increasingly desperate to sell this property.

The weird thing is this property is being listed by THE SMITH BROTHERS REALTORS who are the same people who listed the property at 1817 D Street SE (see below post). These properties are in nearby neighborhoods. This property was reduced a significant 75K ( from 925K to 850K), in contrast to the other property that was reduced a mere 9K ( from 599K to 590K).