Out and About - Some sellers still haven’t gotten the message

Consider the seller of a Logan Circle condo in one- or two-year-old loft building. Not the favorite of Realtors, of course, she is offering the one-bedroom apartment For Sale Buy Owner (FSBO). That may be the reason she has overpriced the unit so startlingly. Or so a real estate agent might flatter himself or herself into believing.

First, a description. The square footage is obviously incorrect in the public record, but it looks to be about 750. This is your typically sleek condo with open glam kitchen that has stainless everywhere and Italian cabinetry; track lighting; exposed ducts; 12-foot ceilings; maple floors; a master bath with limestone tile, double sinks, custom cherry cabinets and whirlpool tub; an L-shaped space near the kitchen that the seller is calling a den; and a powder room. A garage parking space conveys.

The owner paid $442,165 for the place when the market was still hot - last August. It appears that the parking space may not have been included, and its value then and now approaches $50,000. So what’s the asking price today? In the memorable words of Maxwell Smart, would you believe $599,900? That comes to almost $800 per square foot. HEY, LADY, IT AIN’T GONNA HAPPEN!

Whew! That feels better. Now for some of the other recently seen properties listed by other agents:

• In Mount Pleasant, a three-bedroom, one-and-a-half-bath condo in a pet friendly building with garage parking. Among this apartment’s assets are two fireplaces, two levels, central air conditioning and a large private deck on the second floor with great views. Among its minuses are the amount of closet space, the oppressively low ceiling in the outdated kitchen, and the generally diminutive room sizes. But the price of $549,000 with $385 monthly fee for the 1,200-SF unit is right on target.
• A Wakefield red brick colonial that has a spacious main level, except for the smallish kitchen, a decent rear yard that is unfortunately divided in half by a driveway, an unfinished full basement, and an attic with pulldown stairs. This home has numerous issues: No powder room on the main floor; a dual-entry bath with period black-and-white tile for the master bedroom, which has one small closet; and a hall bath with mint-green tiles for the three other bedrooms, one of which is knotty pine. There is a pleasant Florida room off the living room, but the real problem with this house is the décor. Buyers will have trouble seeing past a dining room that is solidly traditional across the foyer from a living room that is shockingly retro; a kitchen with forest-green cabinetry, older appliances and laminate countertops; and walls painted deep hues at every turn. With a $959,000 asking price, this house has just gone under contract, surprisingly.
• In Dupont Circle, a two-unit attached rowhouse with a total of four bedrooms, three full baths, two half baths and two alley parking spaces. It’s not a bad property, but it doesn’t impress because the owners have gone overboard with fussy Victorian details in their décor. Other defects include room size, baths and kitchen in need of improvement and flow that feels choppy in no small part because of the ever-changing floor heights. When the strongest asset is the expanse of multi-tiered decks at the rear, it is obvious that the price of $1.195 is too high.
• A Town of Chevy Chase center hall colonial with a master suite, two additional bedrooms and a hall bath on the second floor. The two extra rooms that are technically not bedrooms in the finished attic are merely serviceable. On the main floor, the rooms are well proportioned, the sunroom is inviting, the spacious late 90s kitchen has been thoughtfully designed, and the two decks look over a nicely landscaped rear yard. The so-called “playroom/recreation room” downstairs is perhaps usable but less than welcoming. The price of $1.55 million for this 1926 dwelling is within reason.
• In American University Park, another center hall colonial, this 1940 version with a smallish windowed kitchen that could use just a bit of sprucing up, three bedrooms and two baths upstairs, a nicely finished fourth bedroom plus office space in the attic, and a lower level with period knotty pine, high ceilings, enough light and tiny maid’s quarters. Lacking, however, is a powder room on the main floor. Reduced from $919,000 to $889,000 after three weeks on the market, this 2,550-SF property should sell soon.
• A Columbia Heights loft-like condo near Meridian Hill, or Malcolm X, Park. This sprawling, two-bedroom, two-bath apartment in a pet-friendly building that was totally renovated four years ago covers 1,550 square feet. It has a surfeit of style, high-priced kitchen and laundry appliances, breakfast island, wine coolers, smart layout, unappealing private deck, fancy finishing in the baths including Euro shower, and parking. On the market since the end of the March, the price was reduced $50,000 last month to $799,900, which may prove to be reasonable.
• In Logan Circle, an inviting two-bedroom, two-bath condo in an 1877 Victorian building that was renovated and converted in 1998. The kitchen with regulation granite and ‘90s black appliances is half open to the living room and also boasts space for a table. Ceilings are 11 feet high, the washer/dryer is high efficiency, the master suite is spacious with a walk-in closet and little balcony overshadowed by surrounded buildings, there is crown molding, and this P.N. Hoffman production shows very well. Encompassing nearly 1,400 square feet but lacking parking, the apartment is well priced at $750,000, especially compared with the example at the top of this narrative.
• A handsome six-bedroom 1933 brick colonial on a 15,000-SF lot on an exceptionally busy street in the Town of Chevy Chase. This home shows beautifully, with spacious rooms, up-to-date kitchen, improved master suite with walk-in closets and stylish bath, gorgeous fenced rear garden that has a slate patio, attached one-car garage and a sunroom with access to a private patio. The family room downstairs is unexceptional but nice enough. Given the size of the property, it is worth the $1.85 million price at which it is offered.
• In Kalorama, a two-bedroom plus den condo with parking in a 1905 building with enormous curb appeal. The kitchen was renovated, and the living area is well laid out, but the existence of only one bath in this 1,268-SF apartment is a distinct liability. Although it is possible to add a bath, the $725,000 list price with $428 monthly fee that excludes utilities is pie in the sky.