Friday, March 24, 2006

Out and About - It's almost like falling in love

Buyers always start the search process with a pretty clear set of requirements and wishes. In the end, the list almost always goes out the window when they walk into a property and, for reasons that can be difficult to articulate, fall in love. "Oh, well," they might say, "parking on the street doesn't look so difficult. " Or, "We'll just open up the kitchen some day." Or, "We can fix that." Why the instant adjustment? "This reminds me of the house my grandmother had," the response could be. "I just loved the times I spent visiting her." Or they might gush, "Those windows and the views - I'll manage without that third bedroom."

So it is that emotional reactions so often overwhelm rational desires. But don't mistake such a situation as necessarily a bad one. What buying an apartment or house on that basis suggests is that the purchase often can be more about finding place that makes the individual happy, provides a lifestyle that is satisfying and proves that knowing priorities in advance may not be the easiest thing to determine.

Some properties are far more likely to resonate with prospective buyers than others, just as some individuals are more likely to find Mr. or Mrs. Right than others. Perhaps an analog would be the person who is somehow physically challenged. Certainly there exists the perfect match, but chances are that the eligible population from whom that match will come is smaller than for other folks.

A penthouse in Ballston is a property that demonstrates the point. It is a two-level, 2,400-SF condo with spectacular views from all of the rooms, a 768-SF terrace, a garage parking space and a great location. It has three or four bedrooms, three and a half baths, library, sunroom, gallery, excellent layout, marble and ceramic tile galore, incomparable drama and extras such as an extraordinary system of electronics that will be included in the sale. The condo also has a glamorous but Lilliputian kitchen, which has high-end appliances such as a Miele built-in espresso maker and, strangely, only a 24-inch-wide refrigerator.

The agent describes the place as a "playroom for adults," and therein lies its analogous physical challenge. It is hard to see a couple of empty-nesters fitting themselves comfortably into this aggressively stylish space. It would make an exceptional bachelor pad, but a newly married couple contemplating their future with children may well be unable to envision themselves picking up toys in the sleek living room or preventing the kids from tumbling down the stairs or off the terrace.

The market for this apartment, however impressive, is limited, then. Maybe that's why it has lingered on the market for two months - that and the stubborn price of $1,079,900 with a $957 monthly fee, which does not cover the electrically generated heat and cooling. Yet somewhere out there is the condo buyer who moves in the fast lane. He or she will shoot up to the 27th floor of the unit's 1989 building, stride into the apartment and . . . fall in love.

Some of the properties listed by other agents and seen in the past week:

  • In the University Park section of Hyattsville a medium-size 1936 red brick Colonial on a quiet tree-lined street within blocks of main roads and close to the Metro. There's nothing much wrong with this house except that it's listed as a four bedroom, three-bath home (which is legally correct), but the fourth bedroom is on the first floor, away from the main flow; it appears to be a disconnected family room rather than an in-law suite. Even the brand-new kitchen just misses – why skip the granite when you've come two-thirds of the way with cherry cabinets and stainless appliances? House map confusion (where am I and what am I supposed to do in this room?) and a too-high original price ($574,000) have doubtless contributed to its more than three-month sojourn on the market. Now at a more palatable $535,000, this one might move toward a happy conclusion with a bit of clever staging.
  • A four-bedroom, four-and-a-half bath new home with two-car garage, unstinting finishing such as wainscoting, expensively outfitted center-island kitchen, dual-zone heating and cooling, intercom and stereo systems throughout, and 4,200 square feet on four levels with an eminently sensible layout. What this corner property in Falls Church doesn't have is a rear or side yard since the much smaller house originally intended for the lot was torn down. On a busy street, the house is optimistically priced at $1.225 million.
  • In Brookland, within walking distance of Catholic University and the Metro, a four-bedroom, three-bath 1930s Cape. But the front door opens into a wall, and the stainless appliances cannot hide the fact that the kitchen has no counter space. A perfect example of the gap between older housing and the way people live today, this place has rooms that feel cramped and closed off from each other; none of these defects are fixable without a major, architect-driven renovation. Don't even bother asking about closets. Still, at just under $400,000 and in generally good condition, this home could prove to be a decent value with a little imagination.
  • A Logan Circle landlocked narrow rowhouse in need of work, without a rear yard and, therefore, a place to park a car. Its biggest assets are the SubZero refrigerator and, for some, exposed brick walls. Its liabilities are numerous: ugly carpeting on the upper floors, a grim partial basement where the laundry is located, wrought iron handrails instead of wooden ones, electric baseboard heating and poor flow. This sad property is overpriced at $829,900, reduced too little from $849,900.
  • In Hillcrest, a three-bedroom, two-and-a-half bath bungalow built in 1932. The inside of this cozy home has been considerately polished into a small gem with many thoughtful upgrades (including renovated kitchen) properly in scale and period. The master suite encompasses the entire second floor, complete with new bath, sitting area and walk-in closets. Details such as original wood doors and crystal door knobs glow. But the exterior needs some work on its curb appeal; shabby white stucco, old plantings and sod won't help sell this nice house, particularly since it is on a main thoroughfare. Priced at $547,000, this bungalow is likely to sit on the market a while longer.
  • A two-bedroom, two-bath condo with gas fireplace, large balcony and indifferent eighth-floor views in Virginia Square. Among the features of this 919-SF apartment in a 1998 building are an in-unit washer/dryer, modern open kitchen and a garage parking space. Originally offered at $569,000 in early October and reduced twice since then, the apartment is well worth the new price of $519,900 with a $353 monthly fee, which includes gas and no other utilities.
  • In Dupont Circle, an impressive but overpriced 1870 renovated rowhouse with huge rooms, though not many of them. The main floor is, in fact, one big room with an expensively modernized open kitchen with glass tiles that ought to look better than it does. Upstairs, there are two big bedrooms and but one bath. Downstairs, there is a bedroom, family room and another bath. Perhaps the best feature of the property is the old carriage house, which accommodates two vehicles and boasts an expansive second-floor studio. Unfortunately, the building pretty much occupies the rear yard. It is listed at $1.159 million.
  • A three-bedroom, two-bath detached home with inviting porch across the whole front near Takoma Park, D.C. This house has a deep backyard with dilapidated garage, an older kitchen with, literally and figuratively, plenty of room for improvement, and a finished attic retreat. There is an undeniable charm to this property, which features oversize louvered windows in the living room, new flooring and an air of comfort, though its full potential has yet to be realized. The price of $575,000 is right on target.
  • In Brightwood, a charming three-bedroom, two-and-a-half-bath semi-detached home filled with sunlight. It features a wood-burning fireplace, formal dining room, new windows, a nice older kitchen, garage parking, a bright sunroom overlooking the backyard and a small deck. The family room in the basement is not enhanced by the dark knotty-pine paneling, but, hey, the offering price of $550,000 for this 1932 Tudor is well within reason.
  • A Logan Circle bi-level condo in a converted two-unit 1895 Victorian with ebony floors, Euro-style open kitchen, fancy baths, gas fireplace and generous closet space. Most of the drama comes from the circular end of the living area created by the turret-like shape of the building's corner. With two bedrooms and two and a half baths, the unit has its second level in what used to be the basement; while mostly above ground, that bedroom floor is nonetheless dim and depressing. For $749,000 with a $294 monthly fee, buyers might expect more.
  • In Chevy Chase, D.C., an attached brick home astonishingly larger than is apparent from the outside. With capacious rooms, this 1918 house has three bedrooms plus a den, three and a half baths, very high ceilings, a lovely improved kitchen with breakfast room overlooking a flagstone patio, and a pleasant downstairs guest suite. It is very well priced at $925,000.

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