So it has been a while without any price movement on the Pimmit Ct. house, FX6640385, but it looks like Re/Max is finally headed in the correct direction by pricing the property at $350,000. The price is lower than what Zillow estimates but given as houses in the area have been selling under the Zestimates I question if a Zestimate really means anything at all.
On the upside the house is only now out of market by not having any upgrades compared to the other properties we have watched in Pimmit Hills. As they didn't keep up with their price drops, at this rate it might end up in foreclose before it sells.
Adding another foreclosure to the books of the banks will not help the Credit Crunch.
I wonder how McCain is doing with HIS multitude of houses in this market.
Saturday, August 2, 2008
Saturday, May 10, 2008
Zoning
So today we look at zoning ordinances and what zoning means for property. Before we looked at zoning issues in Arlington County, VA now we will look at zoning issues in Fairfax County, VA. The Zoning Ordinance for Fairfax County is fairly comprehensive and would take ages to go over so we will use the case study of 7301 Pimmit Ct. to look at simple setbacks as part of the Residential District Regulations.
The property is zoned R-4 (Residential 4 DU/AC) and has more than the conventional minimum lot requirement of 8,400 sq. ft. The increased size may be due to the odd shape of the lot.
As the lot is in the shape of a pentagon there are two rear yard setbacks to consider. The front yard must be 30 feet, the side yards must each be 10 feet, and the rear yard setbacks must each be 25 feet. With these requirements this should give ample room to expand on 0.41 acres.
The property is zoned R-4 (Residential 4 DU/AC) and has more than the conventional minimum lot requirement of 8,400 sq. ft. The increased size may be due to the odd shape of the lot.As the lot is in the shape of a pentagon there are two rear yard setbacks to consider. The front yard must be 30 feet, the side yards must each be 10 feet, and the rear yard setbacks must each be 25 feet. With these requirements this should give ample room to expand on 0.41 acres.
Saturday, February 23, 2008
The Prices Keep Dropping
So it took me a while to get out and do a drive by of the property with work and birthdays this month. From the outside the property has a cute house, looks to be a standard Pimmit Hills home with what looks like a huge lot.
The house has had consistent price drops about every two weeks since it was listed to drive people to go through the property. I didn't see anyone that went through in the 15 minutes that I hung around the neighborhood.
As I all I did was a drive by viewing I am posting what you see from the curb.
This is the obligatory short sale drive by photo now published on the MLS.
The basic facts are there is a space for a driveway but no driveway, the siding looks to be in good shape, the roof looks like it might have 4 or 5 years until it needs to be replaced, the windows look to be the original single pane glass, and the porch light is hanging by the wires. At the current time the only way I can see justifying the price is if the inside is immaculate with an upgraded kitchen, but from the outside that does not seem promising.
If they keep up with the price drops I may need to dig deeper, or find another property to watch, before it goes off the market.
The house has had consistent price drops about every two weeks since it was listed to drive people to go through the property. I didn't see anyone that went through in the 15 minutes that I hung around the neighborhood.
As I all I did was a drive by viewing I am posting what you see from the curb.
This is the obligatory short sale drive by photo now published on the MLS.
The basic facts are there is a space for a driveway but no driveway, the siding looks to be in good shape, the roof looks like it might have 4 or 5 years until it needs to be replaced, the windows look to be the original single pane glass, and the porch light is hanging by the wires. At the current time the only way I can see justifying the price is if the inside is immaculate with an upgraded kitchen, but from the outside that does not seem promising.
If they keep up with the price drops I may need to dig deeper, or find another property to watch, before it goes off the market.
Saturday, January 26, 2008
Very Interesting
So in my daily pull of Redfin I came across a property at 7301 Pimmit Ct. in Falls Church VA between the West Falls Church Metro and Tysons Corner Center. It has a MLS listing of FX6640385 and might be a nice house to watch as it is priced high for the Pimmit Hills area. I will take a look at it on my way home from work some time over the next few weeks and if it sticks around I will provide an update.
If you don't know about Redfin it only has the best mapping and sorting functionality I have ever come across. Even if you have a Realtor I would recommend using Redfin if only to get an idea of the location and prices for a given area.
If you don't know about Redfin it only has the best mapping and sorting functionality I have ever come across. Even if you have a Realtor I would recommend using Redfin if only to get an idea of the location and prices for a given area.
Saturday, January 5, 2008
The Search Begins
So my New Years resolution for this year is to blog on something I find useful, as I have been following real estate casually since 2004 I think I will dip my toe into that area.
I have come across a number of useful real estate blogs in my searches. I would say 95% of the blogs are from Realtors marketing their services, or telling about how they can get a property sold. I have decided to see if I can find a few properties that looks to be out completely out of market given the financial conditions of the day and see about following their stories.
I am considering starting with 1941 North Culpeper St Arlington VA 22207, it has been on and off the market since 1996 and looks far to small to be usable, and 1911 North Cameron St Arlington VA 22207, as it has been on the market since 2007.
My only sticking point is I really want to see about finding things that comes out this year so I can follow them from the start, instead of doing a lot of historical research.
If I follow land only property it usually has a long story to follow, but if I come across something with a house it might make for a more interesting story to tell. If you stumble across this blog and have a suggestion for an out of market property in the Northern Virginia area leave a comment and I might add it to my search.
I have come across a number of useful real estate blogs in my searches. I would say 95% of the blogs are from Realtors marketing their services, or telling about how they can get a property sold. I have decided to see if I can find a few properties that looks to be out completely out of market given the financial conditions of the day and see about following their stories.
I am considering starting with 1941 North Culpeper St Arlington VA 22207, it has been on and off the market since 1996 and looks far to small to be usable, and 1911 North Cameron St Arlington VA 22207, as it has been on the market since 2007.
My only sticking point is I really want to see about finding things that comes out this year so I can follow them from the start, instead of doing a lot of historical research.
If I follow land only property it usually has a long story to follow, but if I come across something with a house it might make for a more interesting story to tell. If you stumble across this blog and have a suggestion for an out of market property in the Northern Virginia area leave a comment and I might add it to my search.
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