Saturday, February 17, 2018

Price and Sales Update

Stanley Martin has sold off a lot of units since my last update which is impressive considering the winter is usually pretty slow for real estate.

They have 4 units left in building 5 and 6  (two Dawson's, one Parker along with the first extended Cassidy)

They finally broke ground for the foundation for building 7 on 2/14/18 and they have already sold 5 units in that building, including the extended Cassidy.   (unit 65 in this picture below, which had not been updated)


To my surprise, all 55 of the 119 townhomes that still remain are all currently for sale.  Even though building 7 has not even went vertical and probably will not be finished till Summer they are already selling building 8, 9 and 10...

No change in the prices for a long time now (posted below)...  They are back to offering the $18,000 options incentive they were offering last year at this time but they are offering that on almost all of their communities right now.   I believe they may do this every year to encourage sales during the winter months.  Curious to see if they can sell the last few units from building 5 and 6 before spring is here.  I think if they are able to do that we may see prices go up again.

On a more macro econ level... if interest rates continue to rise like this I believe it could hurt real estate prices across the board...  Let's hope Riverdale is somewhat insulated from this...

The pricing history on the smallest floor plan (Dawson) has been:

12/9/16:               $415,000
1/22/16:               $425,000
3/2/17:                 $430,000    
3/28/17:               $440,000
6/5/17:                 $443,000
11/5/17:               $440,000


 The pricing history on the middle floor plan (Parker) has been:

12/9/16:               $440,000
1/22/16:               $450,000
3/2/17:                 $455,000
3/28/17:               $470,000
6/5/17:                 $473,000
10/1/17:               $483,000
11/5/17:               $470,000

 The pricing history on the largest floor plan (Cassidy) has been:


12/9/16:               $465,000
1/22/16:               $475,000
3/2/17:                 $480,000
3/28/17:               $495,000
6/5/17:                 $518,000
8/25/17:               $537,490

Sunday, February 11, 2018

Thoughts one year in...

I started this blog exactly one year ago...

I have to say we are pretty pleased with our purchase. 

The positives are having the all this stuff in close walking distance...  I really love where this property is located.  Today I pushed a cart from our house to the Whole Foods and we got tacos at District Taco on the way back...  It's and easy walk to University Park, Hyatsville or even the University of Maryland...  The shuttle has been super convenient during this cold weather when I prefer not to walk to the metro...   I also love the large middle floor where we spend most of our time.

The negatives are that the retail build out and leasing is not going nearly as quickly as I hoped.   The same spots that were available when I started the blog in February 2017 are STILL not leased.  Also I find I rarely ever am using the loft or rooftop deck as I am just not getting all the way up there very much.   Going from only living in single family homes to a four story townhome has been an adjustment when it comes to the stairs.  You learn to plan to bring stuff up and down the stairs as needed in batches.  I have been adapting but that aspect has been a pain at times.  Also I wish we would have opted for the bathroom on the ground floor. (office)

Overall I am pretty happy and still curious to see what the next year of development for this community brings.   Seems we are going to get the bridge opening, the playground opening and Gold's Gym opening all in the next 45 days.  I will post another Sales and Price Update and Construction Update this month along with anything else that may come along...