Wednesday, February 08, 2006

Update II: 1228 Walter Street SE

The listing for 1228 Walter Street SE has been pulled from the MLS. The sale is pending.

Previous Posts

Update 1228 Walter Street SE

Original Post 1228 Walter Street SE

So did the rowhouse sell at its reduced price of 529K? Or did the buyer lowball?

Information is not yet available.


  1. I am still hearing talk of multiple contracts on houses, not condos, in DC. Its no longer a bidding war, bu a battle of contingencies clauses in contracts.

    I would not be surprised if the seller got an offer that is pretty close to the last asking price.

  2. It is certainly possible. We will see.

  3. So if there were a lot of concessions, then the house could have sold at the official asking price, but really sold much lower?

    Does this mean that real estate sales prices are not particularly meaningful? Are the concessions eventually published also?

  4. So if the house sold for near its listing price and there were no concessions (we will likely never know if there were any), does that mean the property was not in fact overvalued?

  5. Vaininvestor-

    No one is saying it is not "fair"; they are saying it is not a good value.

    If you buy a house that is worth $200,000 but pay $500,000, then the sale may be fair but the value you got was rotten.

    Example- if you bought a dotcom bubble company in late 99 or early 2000, only to find out that yes, it actually does matter whether they are making any money or if they had a viable business model, then you lost a ton of dough. You may have paid the fair market price at the time, but you got a terrible value.

  6. Check it out

    It works really well in Northern Virginia. We all know people bought high in the last year. I'm looking forward to using this in the next year for information.

    Love the internet!

  7. With Who needs Realtors to tell me what is a good price ;)

  8. Zillow seems to show you past sales. The market has only shifted gears in the last 4 months. I'm looking forward to looking at zillow in 8 months.

  9. The Walter Street property will settle on the 24th of February. The sold price will be made public at that time. - Joe

  10. Joe,

    Please post the price then. Thanx.

  11. Will do....As you know, we're not allowed to communicate the final price (in any form) until settlement. It will be posted to my site shortly after settlement. BTW, I like your site. Don't forget, the other bubble out there is the realtor bubble. You might want to examine the forcasted decrease in NAR membership this year. Take care, Joe

  12. Joe,

    Thanks for the update and compliments. I will be posting the selling price once it is publicly available. You are correct about the realtor bubble. Good topic.