Wednesday, April 22, 2009

1833 Fendall Lane - Charlottesville - $742K














MLS 464447

$742K

1833 Fendall
4 bedrooms, 3 baths
2200 sq. ft., ca. 1952
Assessed: $570K
Paid $225K in 1997
10.6% annualized appreciation
Owner is RE agent

10 comments:

downtownenvy said...

I know of three folks in this neighborhood who basically just house swapped in the area of $600,000 and up. They all sold to each other and moved to bigger houses on this block of streets, so that's probably their comp.

Also there was one going for $519,000 not too long ago in horrible shape over on Edgewood. Not sure if it sold or not, but there is another comp sort of. This is how the Fendall folks roll.

Anonymous said...

Comps are what's keeping this market frozen. So as long as people are house swapping they're agreeing that that's what these houses are worth. Buyers outside the neighborhood or coming in from outside the city have another perspective.

For my part I'd like to have some of what this agent is drinking. Or maybe not. Maybe she's got a big home eq line of cred she has to pay off. Or college tuition. Or maybe some uncalled commitments to a hedge LOL.

Anonymous said...

Wait a minute, I thought realtors weren't responsible for the overpricing in this market?!

not anon said...

Overpriced? No doubt this is worth every single penny that it will cost about $1.5 million with a jumbo. 30 yr fixed. According to Ray Caddell it doesn't matter what this seller paid for the house. Apparently it also doesn't matter that its 2009 either. And if you don't like the price just don't buy it!!!! :0)

Anonymous said...

I saw that it was Affordable Housing Awareness Week in Richmond so, as a goof, I went to Realtor.com to see what the same amount that I am prepared to spend here would buy in that market. I have to say, I was astonished by the quality and size of house you can get there (even though Richmond is supposedly one of the three most overpriced places to live in VA). There were at least a dozen houses I would check out -- if only they were located in C'ville/Albemarle. I think this confirms how truly out of whack local prices are.

mindo said...

In this area you have condos for $550K. MLS 464744, 464745, 464745, some of today's NEW Albemarle listings. Not that they're going to sell. It's a testament to how bizarre the market is and stuck in the bubble. These condos were built in 2007 and surprise surprise surprise have never sold.

Anonymous said...

Anonymous said:
"I was astonished by the quality and size of house you can get there (even though Richmond is supposedly one of the three most overpriced places to live in VA). There were at least a dozen houses I would check out -- if only they were located in C'ville/Albemarle. I think this confirms how truly out of whack local prices are.

That's why they talk about location, location, location.

Anonymous said...

Location, location, location a few doors down, for $215,000 less, 1841 Fendall

Price Drop said...

MUST HAVE DONE A CMA...Now listed for $697K

Anonymous said...

In this area you have condos for $550K. MLS 464744, 464745, 464745, some of today's NEW Albemarle listings. Not that they're going to sell. It's a testament to how bizarre the market is and stuck in the bubble. These condos were built in 2007 and surprise surprise surprise have never sold.

______________________
http://www.stokeng.com