Latest Round of Overpriced Condos in Clarendon, Ballston & Rosslyn - VI

Overpriced Clarendon Condos & Real Estate

Thinking about a condo, read the Ultimate Guide for Buying Condos in Clarendon & Ballston.

More Overpriced Condos in Arlington VA

Yes it's time for another look at the latest and greatest overpriced condos in Arlington along the metro at Clarendon, Rosslyn & Ballston. I usually lump Courthouse into Clarendon to save ink for what's it's worth. Literally I get asked about when is my new list coming out. I just get so busy with business & life and sometimes these articles can take 4+ hours to research and write. So once in awhile I write them. I keep writing the series for several reasons. One reason is to keep myself sharp on the market place. I like to be able to know off the top of my head when I'm showing condos to my clients whether or not the listing is legit to negotiate with or grossly overpriced. Another reason is to knock some sense into the marketplace!#@!#

knock some sense into seller

disclaimer on condominium article

Let the Games Begin -- Overpriced Condos & Real Estate in Clarendon

overpriced condos in clarendon area

1. 1600 Oak St N in the Belvedere for $675,000 is an oversized 2/2 with just over 1400 sq. ft.--supposedly with some good views. However what stands out immediately about the listing are pictures of the original looking kitchen and NO photos showing wonderful views. I guess they weren't that great after all--sort of like the old and closed off kitchen and the hip hollywood lighting in the bathroom.

[note this was not a photo inside the home for sale but just an example of hollywood lighting] One unit with 1250 sq. ft. on 14th floor with great views closed for $602,000 in May 2007 and another 1400 sq. ft. closed for $645,000 in the summer as well. So it's overpriced by $50,000.

3. 1276 WAYNE ST N in the Williamsburg , ARLINGTON, VA 22201 is still overpriced even though they dropped it from $749,000 down to $699,000. The seller or listing agent probably thought they had a snowball's chance in heck of that price due to a very unique condo that sold for $775,000 there a year ago. From the beginning I thought this listing was nutz--not even close to the wannabe comparable. Unit #1211 closed for a lowly $624,000 and #311 for $640,000 last year. People, your unit is not special...at all. Look at your own photos of your classic 90's all white kitchen. I don't see any great views in your photos either. I would not let anybody pay more than $630,000ish for it. Too risky.

4. 1200 NASH ST N ARLINGTON, VA 22209 for $849,000. This is Prospect House. A building in a great location for views...but it is what it is--an old building with OLD common areas. The unit brags 2 levels. But the spiral staircase to the upper loft is so tight you'd get squished trying to get any furniture up there. And constricted spiral staircases are not the greatest selling point in an older building considering the baby boomer trends such as bad knees.... 2 units with some square footage sold last year for $640 & $655,000. Okay add another 150 or 200 sq. ft. and I end up at $700,000...maybe. So drop your price instantly $100,000 and come down to realityville. It's a great place to be.
reality check

5. 1530 KEY BLVD 2BR/2BA in Atrium, ARLINGTON, VA 22209 This one for sale is officially removed. It's a legit listing price from my perspective....

6. 1530 KEY BLVD a 1BR in Atrium for $399,000 ARLINGTON, VA 22209 The Atrium no doubt had its primetime 2 decades ago. It's a very classy building. One of the best entries of any condo building around--dramatic and elegant. However these 765 sq. ft ers have been selling for $320-350,000. This is sounds very nice, but no photos. What the heck is it with sellers not putting up their fare share of info such as photos? It's bogus. So even if it's much nicer and on a better floor than the others it's hard to imagine paying more than $20,000 higher than the best comp of 2007.

7. 2001 15TH ST N 1BR on 2nd floor for $435,000, ARLINGTON, VA 22201 Yay my favorite condo: Odyssey. This list does not merit being on this list so disregard it. If it was on a higher floor it would be more reasonable thoguh. It's probably worth $410,000ish.

odyssy condo in courthouse clarendon

8. 3625 10TH ST N in the Monroe for $699,500 ARLINGTON, VA 22201 The Monroe that was built in 2006 demonstrates precisely why picking the right real estate consultant matters. Some of these people with sucky agents paid almost $100,000 higher than the real market value in my opinion. I wrote about this in this post Ouch! Buyers Loses $40,000--Don't Be a Floater!
you suck!

When you purchase new construction you better have an agent--like me--that has not only knowledge of the market but instincts as well. Not many consultants have the instincts to protect their clients very well in my opinion--especially in the new construction arena. It's listed at $699,000 and there are comps up there in the mid upper $600s, but I would tell clients to NOT pay more than $650,000 regardless of the comps. I'm not even comfortable with that. Bring it down to $600,000-615,000. When the real values are fuzzy my motto is "Walk!". There will almost always be opportunities to buy in a safer scenario I tell my clients.

9. 1530 KEY BLVD a 2BR/2BA, for $599,000 ARLINGTON, VA 22209 The Atrium again. But I did not realize this was 1230 sq. ft. Too bad there are no pics but it is hereby removed from the overpriced condo list considering its renovations, location and square footage.

10. 1001 VERMONT ST N 1BR, for $383,270 ARLINGTON, VA 22201 The Westview was a conversion in Arlington real estate a couple years ago. I several have overpaid on this building this year. This is worth maybe $340,000ish. They need your $$$$. Don't give it away if the market is on your side.
seville to the rescue of condo buyer in Arlington