Support

GDoN Revisited by Hipchickindc – 500 M St NW #1

Hipchickindc is a licensed real estate broker and a professional artist. Her official real estate bio is here and her art website is here. Unless specifically noted, neither she nor the company that she is affiliated with represented any of the parties or were directly involved in the transaction reported below. Unless otherwise noted, the source of information is Metropolitan Regional Information Systems (MRIS), which is the local multiple listing system. Information is deemed reliable but not guaranteed.

Featured Property: 500 M St NW #1

Legal Subdivision: Old City #2
Advertised Subdivision per Listing: Mt Vernon Square
Original List Price: $289,000.
List Price at Contract: $289,000.
List Date: 03/02/2011
Days on Market: 17
Settled Sales Price: $289,000.
Settlement Date: 05/05/2011
Seller Subsidy: $8,280.
Settled Price per Square Foot: $501.
Bank Owned?: No Short Sale? No
Type Of Financing: FHA

Original Good Deal or Not post is: here

The listing can be seen: here. Pics can be seen by clicking on the main photo and scrolling through using the arrows.

Despite being a large attractive end unit Victorian with a sexy round turret, 500 M St NW languished on the market for over 200 days with no takers. Oh yah…it was 1998. In 1998, the entire building was being offered for $219,900. Eventually, it sold in 1999 for $200,000.

Continues after the jump.

Lest we forget, the pre-turn of the millennium real estate market in DC was nothing like it is today. It’s hard to wrap one’s head around the changes in the short time from then to now, but consider that the Verizon Center (then the MCI Center) opened in December 1997. A couple of blocks down the street, ground breaking for the Convention Center started in 1998. Developers finally got around to picking up the entire building in 2003 for $500,000.

500 M St NW sits at the end of a block that includes such notable condos as The Palermo and M Street Flats. There’s a flagship Safeway across New York Avenue (the first supermarket in years to serve the Penn Quarter and Mount Vernon neighborhoods). Numerous restaurants are within a few blocks.

In 2006, the property was divided into four condo units. The subject property, located in the lower level, was marketed at “pre-construction price”. The listing from that time period notes that the unit “appraised for $360,000. in January.” It sold for $312,000. with a $12,000. subsidy. The purchaser at that time financed 100% (I always try to remind my buyers that when they have the seller pay closing costs, they are essentially financing their own closing costs). Unfortunately, foreclosure was not far behind. The most recent seller bought the unit as a foreclosure for $219,000. in 2008.

Recent Stories

photo by angela n. You can talk about whatever is on your mind – quality of life issues, a beautiful tree you spotted, scuttlebutt, or any random questions/thoughts you may…

From an email: “We have an upcoming free yoga weekend event happening at Reunion 4/6-4/7: Join Reunion Hot Yoga in Park View, DC for a free weekend of yoga Saturday…

Sweet City Ride

Thanks to Mandi for sending: “1930 Oldsmobile? That’s just the best guess of someone who knows nothing about cars but faithfully attended the Iola Car Show with her dad every…

Photo by Julian Ortiz Ed. Note: If this was you, please email [email protected] so I can put you in touch with OP. “Dear PoPville, Man in Ovi jersey headed towards…

Calling all bookworms, thrill-seekers, supporters of the arts, and ping-pongers at all skill levels! Sign up for Paddlestar Galactica, the ping-pong tournament supporting 826DC’s youth writing programs.

826DC is a local nonprofit that offers free writing programs, homework help, and publishing opportunities for DC students ages 6-18, in our Columbia Heights writing center and in learning spaces across the city.

Paddlestar Galactica helps keep writing education 100% free and accessible for all of our students! It’s also extremely fun.

This year’s games will be Saturday, April 27th, 1 PM to 4 PM at SPIN DC. It’ll be a chaotic afternoon of ping-pong, costumes, terrible Battlestar Galactica puns, and good cheer. We’d love to have you join us!

Read More

Submit your own Announcement here.

Well-Paid Maids, the only certified living-wage cleaning service in the DMV, has added a new service to its online booking menu: office and building cleanings.

This includes offices, building lobbies, shared amenity spaces and more throughout D.C., Arlington, Alexandria and more.

Unlike so many other cleaning services, you can feel good booking Well-Paid Maids to clean your office or building. Cleaners get paid a starting wage of $24 an hour. Plus, all employees are offered health, dental, vision and life insurance; 24 paid days off per year; 100% employer-paid commuting costs; and more.

Read More

Submit your own Announcement here.

Vakili Band at Pie Shop!

Three band rock n rolll lineup at DC’s Pie Shop! Vakili Band with “if you know, you know” DC rockers, Lot 18, and the many minds and songs of artist Kind of Christine.

“If you love Vakili Band like we

×

Subscribe to our mailing list