Thursday, June 25, 2009

1505 8th St. #3: Price reduction watch



This is a two-bedroom, three-story condo in Shaw that appears to have been on the market sometime now. With the recent price reduction, I think the condo is rather attractively priced for a two br. Click here for the full listing. An open home is scheduled for this weekend. Given the recent price change, I predict the property moves relatively quickly.

The basics:

Bdrms: 2
Baths: 2.5
Floors: 3
Price: $399,900. (price changed 6/24)
(previously listed at $475,000 on 4/30).
Parking: 1 space
Add.: Lovely outdoor patio.
HOA: ??
Photos: Click here for a photo tour.



I saw this listing at an open a month or two ago. The space is lovely, but it feels like true vertical living. The second bedroom is cozy, but is on a seperate floor for great privacy to be used as a guest room. Each floor is narrow, but because the condo has three floors, it still feels livable.

What do folks think about this location? It's right across the street from the Shaw Giant, i.e., the planned "O St. Market." Does the coming development spell good things for this block and climbing property values? Will it simply mean a half-decade of construction across the street? Or is the O St. Market a casualty of the economic decline?

Do leave your comments.

PS, I note that following the price change, this is flagged as a potential short sale. It could be a great value for a buyer.


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