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Results of Overpriced Arlington VA Condos Picks

Posted by Jay Seville on Tuesday, May 1st, 2007 at 10:30am.

Results of Overpriced Condos in Arlington VA

For would be buyers of Clarendon Condominiums in Arlington read the Ultimate Buyer's Guide.

For the last 6 months I've picked out occassionally (3 or 4 articles) my picks for the latest overpriced condos in Arlington Virginia focussing on the orange line in Clarendon, Ballston and Rosslyn.  The results are in....

Results of 25 "overpriced" condo picks

  • 11 withdrawn
  • 5 Sold on average 8.3% below asking price (5% below list price is the norm from previous months)
  • 8 Active listings
  • 4 of 8 active listings have dropped their price an average of 5% since original list price
I got almost all of them right.  The unit at 1276 Wayne St I had said needed to be decluttered badly.  When the listing changed hands to another realtor, the condo was emptied out, shined up and then sold immediately at almost the original list price.  The lesson here is that one might want to take seriously the advice given to you by the realtor on these issues.  This home could have been sold months earlier if it had been aggressively decluttered earlier probably....Staging matters and I now make it part of the services I provide by paying for it myself out of my commission on the front end of listing homes.  That's in addition to your home receiving traffic from a website that gets nearly 2500 unique visitors a week looking for homes in the area.  No other realtor can offer you that exposure in addition to the MLS.  It's important to play to win if you are a seller and your first 2 weeks are your best opportunity at getting top dollar.  Always list with your home in top form if you want top dollar.  There is so much money at stake it's worth the hassle!

And if yyou're buying a home contact me...I'll do my best to make sure you do not overpay.



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7 Responses to "Results of Overpriced Arlington VA Condos Picks"

million wrote:
i see several are @ 1021 N. Garfield. that place just had its second foreclosure notice listed in the paper. do you foresee more to come?

http://mypublicnotices.com/washingtonpost/PublicNotice.asp?Page=PublicNotice&AdId=505049

conspicuously missing from your list is 2001 N. 15th St, you don't think the Odyssey building has any ridiculously overpriced units?

Posted on Tuesday, May 1st, 2007 at 2:10 PM.


Per question #1, very likely.

There are some overpriced units there right now. I commented on one here when somebody asked me about it this week:
http://www.realestatewebmasters.com/blogs/jseville/857/show/

My answer on a specific unit at Odyssey was the following:
#####################################
PW

How overpriced do you think this condo is: Odyssey Condo #1205 (monument view), 2 bed, 2 bath, 2 parking for $1,069,000?

jseville

Unit #1506 with same dead on view just closed for a net of $950,000. This is a couple of floors down but with a 2nd parking space. I think it's worth about the same $950,00. Still I'm a bit cautious on these high dollar condos right now. I would be very frank in telling buyer he/she may see the price dip some more before any appreciating....We don't know.

But owning a home is not just for a financial investment. Other + s come when you live in something that is yours. To me it is safer though to buy luxury townhouses without the monthly condos fees. They are a limited supply.

jay 703-624-3270 Call me to do business

Also keep in mind this posts is the result of previous lists, it is not current. Too busy....

Posted on Tuesday, May 1st, 2007 at 2:15 PM.


Frankly wrote:
Sorry Jay, Cathy kept the Wayne listing untouched and it sold for k under list after 200+ days. We won\'t make that mistake again, now we also stage everything.

Posted on Wednesday, May 2nd, 2007 at 9:49 AM.


NoVA Bubble Watcher wrote:
http://mypublicnotices.com/washingtonpost/PublicNotice.asp?Page=PublicNotice&AdId=512565

Check this out. Bronze medal came in a bit faster than I had expected

Posted on Tuesday, May 8th, 2007 at 6:58 AM.


Doug Trudeau wrote:
Jay, now I don't feel so bad about some of the overpriced properties in Tucson, Arizona. For what some condos cost there I can buy a luxury home on a golf course here.

Posted on Tuesday, May 15th, 2007 at 12:33 AM.


Ryan wrote:
What are your thoughts of West View and East View Condos at Ballston. I believe they are still overpriced, but I would appreciate your opinion. Thanks

Posted on Monday, July 16th, 2007 at 9:56 AM.


Jonny wrote:
They look like barracks to me.This shacks sux

Posted on Monday, July 30th, 2007 at 6:46 AM.




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