Wednesday, June 25, 2008
903 Rougemont Avenue - $179,900.00
2 Bedrooms, 1 Bath
Sq. Ft.: 720 ($250 Sq. Ft)
Year Built: 1952
The Bubble Blog has watched this price "drop" since January--$10K.
This South Belmont property near Quarry Park has appeared on Craigslist so many times that one of Real C'ville's crankier pals flagged it for overposting. In fact, you yourself have seen 903 Rougemont on Craigslist so many times that you already know all about it, right? We thought we did, too, until we discovered who owned it, and what other perennial Craigslist RE ad this individual has going simultaneously. Interesting.
903 Rougemont is an example of what we think of as "The Fairydust Syndrome" --which happened during the Boom: if a property is anywhere in C'ville, It's Magic: Not only is the property thus subject to overpricing, but also to having its virtues extolled as if it's the greatest thing since sliced bread.
COMPARE THIS HOUSE TO:
1745 Link Road
Lynchburg, VA 24503
3 Bedrooms, 2 Baths
Sq. Ft: 1800
Nice Area of the Nicest Zipcode
Across from the Oakwood Country Club links
And Lynchburg has been listed by Moody's Economy as #1 on The Top 20 Highly Overpriced Housing Markets in the Nation.
903 Rougemont is in what began as a neighborhood for the working poor--tiny lots with aluminum-sided, miniature houses. "The Working Poor" can't afford this any more. Nowadays, the neighborhood has some McVictorians in it, as well as nearby developments. But to call this a starter or 'single-family' 'home'? You and your kitty-cat could wedge yourselves into this place. And $250/sq. ft.? Seriously? That's what 833 Locust Avenue is going for.
Somebody's going to suggest we move to Lunchbag and commute to The Hook in our Prius...but that's not the point, is it?
No, no, no.