Doing a rough pull of sales for the last year appears to show that prices have increased closer to the $320,000 price level but over half of the houses are all in 1052 to 1768 sq. ft. range! Even trying to account for the land, it is hard to justify comparing a run down 884 sq. ft. property to something twice its size. The more recent sales for houses of the same size are between $270,000 and $309,000. The only property in similiar condition, that sold for more than the nicer properties, was priced for $75,000 less than the lowest priced REO and went under contract during the end of the First Time Home Buyer Tax Credit.Now for the Review of 7301 Pimmit Ct.
Positive aspects
Siding appears to be in good shape.
Well manicured shrubs, and bushes.
It is a large 0.41 acre lot zoned R-4.
Negative aspects
The neighbor has chickens.
There is no driveway.
Roof may need to be replaced in 3-4 years.
Windows are single pane glass.
Porch light is hanging by the wires.
There are no appliances in the house besides a dishwasher.
The kitchen would need major work to be useable.
The ceiling fan is put up with tape.
There are mold issues with the walls.
There are drywall issues.
Current addition is not permitted by the Fairfax County and would have to be removed.
Lot is in the shape of a pentagon so expansion would be “unconventional”.
Land is listed as Buildable-Poor Lot.
The house is next to a drainage culvert.
Questions left unanswered:
Why is the land listed as Buildable-Poor?
Why does the price for comparable houses not make sense?
Why does the bank keep raising the price when all the new houses on the market are lowering their price?
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