In real life, hipchickindc is licensed as a real estate broker in the District of Columbia, and as a real estate salesperson in Maryland. 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 Properties: 6 Grant Circle NW

Original List Price: $350,000.

List Price at Contract: $364,950.

List Date: 01/13/2010

Days on Market: 20

Settled Sales Price: $370,000.

Settlement Date: 02/22/2010

Seller Subsidy: $0.

Bank Owned?: No

Type Of Financing: Cash

Original GDoN Post is: here.

Recent Listing is: here.

I realize that this is the third Good Deal or Not Revisited (GDoN-R) that is a cash deal. This one was a request by a reader for a revisit, but the prevalence of cash deals in our current real estate market is definitely worth noting. There is a very active investor market in play at the moment. I had an agent tell me the other day that he had 100 showings within 6 days of putting a house on the market. (That property was in the north end of Columbia Heights.)

This property is somewhat different in that a) it was not a foreclosure, and b) it started off with a list price in the mid-$300,000’s. The original list price for the property was $350,000. A couple of days later (possibly because of the traffic they were seeing?) the list price was bumped up to $369,950. There was an initial contract during what sounds like (from comments on the original PoP post and from the listing comments) a multiple offer situation. It came back on the market, went under full contract on 02/13/2010, and settled a mere nine days later. A shortened transaction time is a huge benefit of cash deals for Sellers. With new lender requirements, both internally generated and new legislation affecting the lending process, I am telling my buyers who are utilizing financing to plan on a 45 day timeframe from contract to settlement. (We used to expect a 30 day turnaround.)

I have to say that Grant Circle is my second favorite circle in DC, so I am not surprised at the appeal of the location. Between the Beautiful Life tree and the proximity to Metro, I personally think it’s an awesome location. Additionally, both the house and the lot are quite large, even by Petworthian standards. In the comments to the original GDoN post, there was a bit of discussion regarding the costs to complete the renovation of the property. Unfortunately, I did not get into this property when it was available, so I am not able to comment on the extent of the work required, despite the pictures provided in the listing.

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In real life, hipchickindc is licensed as a real estate broker in the District of Columbia, and as a real estate salesperson in Maryland. 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 Properties: 4824 7th St NW

Original List Price: $165,000.

List Price at Contract: $165,000.

List Date: 10/12/2009

Days on Market: 4

Settled Sales Price: $151,155.

Settlement Date: 12/01/2009

Seller Subsidy: $0.

Bank Owned?: Yes

Type Of Financing: Cash

Original GDoN Post is: here.

Recent Listing is: here.

To better understand this property, please indulge me for a moment while we take the time machine back to the DC real estate market circa 2005/2006. Up to approximately that point in time, property values had escalated for several consecutive years, at an unreal pace. Lenders were bending over themselves to lend money to pretty much anybody who could fog a mirror, including investors. Down payments were non-existent or very low. In cases where down payments were necessary, it was possible for investors to cross-collateralize off of equity in other properties. In this climate, the price to acquire shells (and otherwise crappy properties) went through the roof. (Note that the subject property was purchased in 2006 for $375,000.)

From about 2006, the investor market dropped back considerably. As prices began to fall on fully renovated properties, investors could not make the numbers work. For a while there, I expect that the majority of properties purchased with renovation in mind were bought by end users (owner occupants). Some folks at the time blamed speculators for both driving up the market prices, and for the bust after they all dropped out of sight. Continues after the jump. Read Full Post

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In real life, hipchickindc is licensed as a real estate broker in the District of Columbia, and as a real estate salesperson in Maryland. 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 Properties: 4714 15th St NW

Original List Price: $629,000.

List Price at Contract: $629,000.

List Date: 10/20/2009

Days on Market: 25

Settled Sales Price: $629,000.

Settlement Date: 12/29/2009

Seller Subsidy: $15,375.

Bank Owned?: No

Type Of Financing: Hmmm. Type of First Trust Loan says “Other”.

Original GDoN Post is: here.

Recent Listings are: here.

While a few posters came to the house’s defense, the general consensus of PoP commenters on the original Good Deal or Not (GDoN) post was thumbs down on the recent renovation. More than one person suggested that the property would sit on the market and sell for substantially less than list price. Having toured the property during its pre-renovation state, my only objections to the post-rehab photos are that a) I’m not a fan of photos with mops and cleaning supplies showing up in photos to be used for marketing and b) I have an aversion to modern gas fireplaces situated in corners. Someone apparently found the work to be acceptable enough to ratify a contract less than a month after it hit the market and paid a net to list price (sales price less subsidy=net divided by list price) of over 95%.

As was mentioned in the GDoN comments, 15th Street is a pleasant tucked away residential street within easy proximity to the major thoroughfares of both 14th and 16th Streets. Those who place great value upon Metro access may not like the location, however, being close to Rock Creek Park is a huge perk for others. The house was recently sold as a foreclosure in June 2009. Continues after the jump. Read Full Post

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In real life, hipchickindc is licensed as a real estate broker in the District of Columbia, and as a real estate salesperson in Maryland. 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 Properties: 1835 North Capitol St NE

Original List Price: $450,000.

List Price at Contract: $430,000.

List Date: 11/14/2009

Days on Market: 57

Settled Sales Price: $399,000.

Settlement Date: 2/12/2010

Seller Subsidy: $4000.

Bank Owned?: No

Type Of Financing: Conventional

Original GDoN Post is: here.

Recent Listing is: here.

Commenters to the original Good Deal or Not (GDoN) post were quite vocal in their objections to the busy, busy street that is North Capitol. I live a block off of North Cap on the Bloomingdale side, so I know first hand how active it is during commuting hours. Historically, prices for comparable sales located on North Capitol reflect this concession. Similar homes on east-west streets, even very close to North Capitol typically sell quite a bit higher. North Capitol also serves as a physical boundary between Bloomingdale and the NE side of Eckington. Again, very similar houses within a short distance of each other can show a significant price differential with homes on the NE side selling for less than their NW counterparts.

With all that said, I actually think that the net sales price of $395,000. was a good deal. Given that I live in and do much of my business in Bloomingdale, I often have buyer clients who specifically want to purchase a bay front brick Victorian rowhome. As prices have steadily risen in the neighborhood over the past several years, it can be a challenge for first time homebuyers to find this type of property in their price range. Over the years, I have had numerous buyers willing to live on a busy street or to make some other compromise in order to buy the kind of home that they really want at a price that they can afford. Continues after the jump. Read Full Post

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In real life, hipchickindc is licensed as a real estate broker in the District of Columbia, and as a real estate salesperson in Maryland. 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 Properties: 1522 Kingman Pl NW

Original List Price: $995,000.

List Price at Contract: $995,000.

List Date: 9/6/2009

Days on Market: 248 (had been listed from Feb-July ’09 with other agent at $975,000.)

Settled Sales Price: $945,000.

Settlement Date: 2/4/2010

Seller Subsidy: $5000.

Bank Owned?: No

Type Of Financing: Conventional with $193,000. down payment

Original GDoN Post is: here.

Recent Listing is: here.

Kingman Place is a lovely one block long street just off of Logan Circle. I might not even be aware of its existence, except that a friend of mine developed a small condo building on that block a few years back. As commenters to the original Good Deal or Not (GDoN) post noted, it is a sweet location, considering that it’s tucked away and quiet, as well as a quick stroll to Whole Foods and other downtown neighborhood amenities.

I believe the current PoP criteria for official house porn designation is a list price over $1,000,000. From a real estate agent’s or lender’s perspective, it’s more accurate to look at luxury levels according to the need for jumbo financing. Typically, loan amounts above $729,000. require a purchaser to put a higher percentage of down payment, to have more cash in reserves, and to pay a slightly higher interest rate. Given that folks looking in this price range are often using cash from the sale of a property they already own and have sold or are selling, as well as investments held in securities, this segment of the market has not been moving quite as rapidly as the first time buyer market over the past year.

We’re still waiting for the final tabulation of specifically DC numbers to be published by Metropolitan Regional Information Systems (MRIS), so I can’t compare overall sales yet, but here’s a general overview of the trend in fee simple (no condos or co-ops) home sales in NW DC over $900,000. From 1999 to 2003, there was a steady increase in the number of sales over $900,000., starting with 103 in all of NW in 1999, and ending with 406 in 2003. All of the years between 2004 and 2007 saw greater than 500 sales over $900,000. in NW DC. In 2008, there were 480 sales over $900,000. in NW, compared to even fewer (439) in 2009.

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In real life, hipchickindc is licensed as a real estate broker in the District of Columbia, and as a real estate salesperson in Maryland. 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 Properties: 1704 U St NW #E

Original List Price: $425,000.

List Price at Contract: $425,000.

List Date: 11/20/2009

Days on Market: 31

Settled Sales Price: $408,000.

Settlement Date: 1/29/2010

Seller Subsidy: $8000.

Bank Owned?: No

Type Of Financing: Conventional with $88,000. down payment

Original GDoN Post is: here.

Recent Listing is: here.

I haven’t profiled a condo in a while, so here’s a look at Victoria Court. This property, which was built in 1981, has a total of 12 units and 6 deeded parking spaces. (Deeded parking spaces are favorable in urban markets, where they can theoretically be sold independent of a residential unit.) Located in the vicinity of Dupont Circle, Adams Morgan, and the U Street Corridor, this two bedroom, duplex unit features an updated kitchen, a fireplace, and both a patio and a balcony. This unit did not include a parking space with the sale.

A sales history for Victoria Court exists in the multiple listing system for sales since 1996. I’ve compiled the sales history ordered from lowest sales price to highest, with date of sale shown at the right side of the report, which can be seen here. There is some discrepancy on the data, particularly in the year built date, which is odd since all of the tax records clearly state the date built as 1981.

I’d like to make note that one of the reasons I started including type of financing and amount of down payment is because in previous Good Deal or Not (GDoN) comments, there has clearly been a range of understanding of current financing options. We’ve seen significant changes in the lending industry guidelines over the past couple of years, particularly in terms of higher down payment requirements for conventional loans, the disappearance of second trusts used as a financing strategy to avoid mortgage insurance, the increase in the use of FHA (Federal Housing Administration) loans, and the resurgence of the requirement for private mortgage insurance. Continues after the jump. Read Full Post

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In real life, hipchickindc is licensed as a real estate broker in the District of Columbia, and as a real estate salesperson in Maryland. 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 Properties: 1901 12th St NW

Original List Price: $645,000.

List Price at Contract: $645,000.

List Date: 11/02/2009

Days on Market: 10

Settled Sales Price: $650,000.

Settlement Date: 12/11/2009

Seller Subsidy: $0.

Bank Owned?: No

Type Of Financing: Conventional

Original GDoN Post is: here.

Recent Listing is: here. Virtual tour is here.

This was not a typical Good Deal or Not (GDoN) post in that it was already under contract by the time it was profiled. Given that it ultimately sold a tad over list price, it’s likely that there was more than one interested party. Listing agent Charlie Gaynor with City Houses notes that the property was renovated between 2000-2009, which suggests that it was an owner-occupant renovation rather than an investor rehab. I work with some great developers, so I certainly don’t dis all investor rehabs, but generally speaking, someone who is living in the property tends to invest a bit more on some of the finishes and appliances (note the sexy new steam dryer.)

The property was purchased last in 1999 for $113,000. with a $3000. credit towards closing costs. Ten years and a lot of work later, this relatively small end unit property with parking but no basement garnered a price reflective of significant changes in the neighborhood. For those of you left wondering how it compares to other recent sales in the neighborhood, here is a list of active listings, current pending sales, and settled sales within the past six months, within 1/3 mile from the subject property. (Note that active listings are in the first page or so. To see the settled sales prices, go to the later pages.)

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In real life, hipchickindc is licensed as a real estate broker in the District of Columbia, and as a real estate salesperson in Maryland. 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 Properties: 1505 Emerson St NW

Original List Price: $875,000.

List Price at Contract: $699,500.

List Date: 10/09/2009 and 8/26/2009

Days on Market: 178

Settled Sales Price: $699,500.

Settlement Date: 1/21/2010

Seller Subsidy: $0.

Bank Owned?: No

Type Of Financing: FHA

Original GDoN Post is: here.

Recent Listing is: here.

This detached 16th Street Heights property was featured as a Good Deal or Not (GDoN) in September, when it was listed at $725,000. A reader by the name of crin was the first to rightfully declare that the property would sell in the high $600’s. There was a bit of debate over the condition, but this is an absolutely immense house, with a wraparound porch, and a 10th of an acre lot (more than three times the size of downtown city lots, or twice the size of a big Petworth lot), and it’s not far from Rock Creek Park. Transfer history shows the prior sale in 1998 at $308,500., and at $290,000. in 1992.

16th Street Heights is a tricky neighborhood to price given the range in the size of houses, condition, and, of course, location. For buyers seeking detached houses, it’s a great spot to be looking, especially for brave souls interested in taking on a few home improvement projects. Currently, there are detached homes on the market in this neighborhood ranging from just under $400,000. to over $1,000,000. The highest price paid for a detached single family house in 16th Street Heights in 2009 was $815,000. Somebody got a steal of a deal on a foreclosure on 13th Street NW back in March ’09 for $190,000.

Here are all of the sold listings from 2009 for detached single family houses in 16th Street Heights, as well as current active and pending sales, ordered from lowest to highest list price.

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1623 Monroe St NW

Featured Properties: 1623 Monroe St NW and 1612 Newton St NW

Original List Price: $499,000. and $529,000.

List Price at Contract: $499,000. and $499,000.

List Date: 10/09/2009 and 8/26/2009

Days on Market: 4 and 51

Settled Sales Price: $495,000. and $476,000.

Settlement Date: 11/30/2009 and 10/30/2009

Seller Subsidy: $0. in both cases

Bank Owned?: No and No

Type Of Financing: Conventional conforming ($417k or less financed) in both cases

Original GDoN Post is: here for 1623 Monroe St NW and here for 1612 Newton St NW.

Recent Listings are: here.

I know, I did Mount Pleasant last week for Good Deal or Not Revisited (GDoN-R), but there were some issues with the formatting for the ten years of data I compiled, so I thought I’d try again. These two houses were one block from each other, and both on the smallish side, neither with central air, and both ultimately priced the same. Comments on both original GDoN posts complained about the size of both properties and debated the desirability of the location.

What I tried to post last week was a ten year overview of sales data for houses (did not include condos) in Mount Pleasant. The data is not surprising but I think it shows an interesting overall perspective. We see a peak in average sales price in 2005, and as recently as 2007, the average sale was above list price. In 2008, Buyers had a little bit more negotiating room as the average property sold approximately 7% below list price. 2009 Buyers didn’t get to negotiate as much, but it looks like Sellers became somewhat more accommodating in their pricing, since the average sale price was down more than $20,000. Click here to see the report.

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In real life, hipchickindc is licensed as a real estate broker in the District of Columbia, and as a real estate salesperson in Maryland. 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: 1838 Monroe St NW

Original List Price: $599,000.

List Price at Contract: $599,000.

List Date: 11/13/2009

Days on Market: 6

Settled Sales Price: $659,000.

Settlement Date: 12/22/2009

Seller Subsidy: $0.

Bank Owned?: No

Type Of Financing: Conventional with a $326,310. down payment

Original GDoN Post is: here.

Recent Listing is: here.

Good Deal or Not (GDoN) commenters were quite optimistic about this property. There was some discussion regarding, um, some safety matters on the block, but one anonymous reader went as far as to say, “I think the Hipchick follow up on this one will show it goes for 25k over asking.” It actually ended up selling a hefty $60,000. above the list price.

Entering a new decade has prompted me to review real estate numbers over the past ten years for specific neighborhoods. I’m seeing some interesting contrasts. Not all neighborhoods in DC have responded the same to the erratic changes in the marketplace. If this information is of interest, I will include it in future posts for other neighborhoods. See below for a picture of the real estate activity in Mount Pleasant. Note that this set of data focuses on single family houses, and excludes condos. Data after the jump. Read Full Post

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In real life, hipchickindc is licensed as a real estate broker in the District of Columbia and Virginia, and as a real estate salesperson in Maryland. 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: 613 Upshur St NW

Original List Price: $549,000.

List Price at Contract: $549,000.

List Date: 10/23/2009

Days on Market: 4

Settled Sales Price: $549,000.

Settlement Date: 11/30/2009

Seller Subsidy: $0.

Bank Owned?: No. Tax records indicate that it was sold by an investor (non-owner occupant).

Type Of Financing: Conventional with $137,250. down payment

Original GDoN Post is: here.

Recent Listing is: here. Virtual tour is here.

Full price sale. $549,000. Under contract in four days…Fantastic.

This one drew a lot of comments for a Good Deal or Not (GDoN) post. Most readers seemed to like the renovation, although some pondered when we shall see an end to the granite/stainless trend of the 2000s. Located on Upshur, just a few blocks from Metro, Domku, and the organic market, this nicely done rehab featured the unusual amenity of a loft in the owners’ suite.

The recent sellers were investors out of McLean, VA and acquired the property for $181,000. in July 2009. I did not find a prior listing or any foreclosure records for the property, so my guess is that it was a direct buy from an estate. Someone mentioned that investors paying cash for the lower priced homes is frustrating for home buyers attempting to purchase for themselves. As an agent, I agree that it can be tough on owner occupant buyers, however, in my opinion, tougher lending standards for investors have led to a better quality of renovations. The lower prices have brought back the investors and subsequently areas like Petworth are seeing a surge in stunning rehabs. This is great for Petworth homeowners, as the values and desirability of the neighborhood are strong. Given that available inventory has dwindled over the past six months or so, prospective buyers are, in some cases, surprised to find themselves competing in what they expected to be a Buyers market.

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In real life, hipchickindc is licensed as a real estate broker in the District of Columbia and Virginia, and as a real estate salesperson in Maryland. 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: 1923 12th St NW

Original List Price: $917,000.

List Price at Contract: $775,000.

List Date: Originally listed in 08/08. The listing information from that time suggests that the original agent may have been the owner (or one of the owners). In March of 2009, it was re-listed at $775,000. with Chuck Burger of Coldwell Banker (Chuck listed 1016 T St NW, which was featured recently).

Days on Market: 281

Settled Sales Price: $690,000.

Settlement Date: 11/02/2009

Seller Subsidy: $0.

Bank Owned?: No. Tax records indicate that the property was owned by an investor (non-owner occupant).

Type Of Financing: Conventional with $267,000. down payment

Original GDoN Post is: here.

Recent Listing is: here.

In response to the original Good Deal or Not (GDoN) post, several readers gave thumbs up for the location and size of the property. It was tough to get a grasp on this one as it is both an unusual structure for downtown DC, and there were no interior photos. The most recent listing stated “Definite fixer upper but worth it”.

When the property was first put on the market back in August of 2008, the listing comment makes reference that the pricing came from the tax assessment provided by the District government. In looking into the tax assessment history, it is startling to observe that, as recently as 2007, the Office of Tax and Revenue went with a valuation of $192,970. Upon closer look, there appears to have been a miscalculation, as the value of the structure at that time was at $321,160. with the land value at $58,220. for a total of $379,380. In 2008, when the District budget started to look a little tight, the land valuation alone shot up to a whopping $505,220. for the 2736 square foot lot. The Seller wisely put the property on the market and appears to have escaped the $10. per $100. of assessed value that was then associated with vacant property. The recent tax record shows the tax rate calculated at the regular residential $.85 per $100. of assessed value. Assuming the property, which was in need of fixing up, was vacant, at the then (2008/part of 2009) vacant rate, the property taxes would have been $91,700. per year. Actively listing a property was one exemption that owners had from the vacant tax rate.

Several commenters on the GDoN post noted the unusual style of the building. I don’t know how it was originally configured, but the tax record suggests that at some point it had been divided into four separate dwelling units. The recent listing suggested that it was being marketed as a single family residence.

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In real life, hipchickindc is licensed as a real estate broker in the District of Columbia and Virginia, and as a real estate salesperson in Maryland. 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: 1113F Harvard St NW

Original List Price: $575,000.

List Price at Contract: $349,000. (Pricing history says $349,000. The final list reads $360,000., which is what the property settled for. My guess is that $349,000. was that sweet spot in pricing that draws multiple offers. It’s not unheard of for an agent to adjust the list to the sale price in cases where the contract ends up being higher.)

List Date: 05/30/2008

Days on Market: 282

Settled Sales Price: $360,000.

Settlement Date: 11/10//2009

Seller Subsidy: $0.

Bank Owned?: No. Seller is listed as non-owner occupant, so this may have been a rental unit.

Type Of Financing: Conventional with $72,000. Down payment (20% down)

Original GDoN Post is: here.

Recent Listing is: here.

I thought it was interesting that most of the comments from the Good Deal or Not (GDoN) post focused on the location of this property. I’d expect that the majority of buyers that I’ve recently worked with in this price range would be enthusiastic about the location, which is relatively close in to downtown. Most of the buyers that I work with tend to prefer either brand new construction or older properties with “character”, so it’s not surprising that something like this built in the late eighties had to dip a bit in price to attract attention. The mid-$300’s seems to be the appropriate pricing for these units at the moment, since there is currently another unit in this condo association that went under under contract within eight days that was listed at $355,000.

PoP posted this property as a GDoN after the unit had been reduced to $399,000. It had initially started off, back in late May of 2008, at a wishful list price of $575,000. It appears that there was an unsuccessful attempt to sell the property back in November/December 2005 in the high $400,000’s.

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In real life, hipchickindc is licensed as a real estate broker in the District of Columbia and Virginia, and as a real estate salesperson in Maryland.  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: 610 Upshur St NW

Original List Price: $375,000.

List Price at Contract: $285,000.

List Date: 03/19/2009

Days on Market: 142

Settled Sales Price: $267,200.

Settlement Date:  10/16/2009

Seller Subsidy:  $10,700.

Bank Owned?: No

Type Of Financing: FHA with loan amount of $296,726.  The property was not in condition that would meet criteria for a regular FHA loan.  This was likely a 203 streamline product.

Original GDoN Post is:   Here.

Recent Listing is:  Here. Sorry. No extra pics.

Good Deal or Not (GDoN) commenters were at a disadvantage on this one in that there were no interior photos posted with the listing. I visited this property with buyer clients back in the Spring when it was newly listed. The property had been owned by an organization called, “Anchor Mental Health” and may have been a group home. It had been cleaned out prior to listing, but definitely was in need of updating. The property is a detached brick home and, as Jamie mentioned in the GDoN comments, it is wedge shaped. Anybody who has looked at lots of houses in Petworth is used to seeing about two or three variations upon the basic porch front rowhouse floor plan, so in relation, the layout of this property is a bit unique. If I recall correctly, the staircase was straight and central, with a rectangular dining room on one side of the stairs and a rectangular living room on the other side and the kitchen along the back. There are four bedrooms on the second level. Continues after the jump. Read Full Post

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In real life, hipchickindc is licensed as a real estate broker in the District of Columbia and Virginia, and as a real estate salesperson in Maryland.  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: 2905 Sherman Ave NW

Original List Price: $345,000.

List Price at Contract: $325,000.

List Date: 06/27/2009

Days on Market: 88

Settled Sales Price: $315,000.

Settlement Date:  10/22/2009

Seller Subsidy:  $12,600.

Bank Owned?: No

Type Of Financing: FHA loan with a loan amount of $303,975., so maybe these folks financed the upfront MIP (as noted in comments as a possibility in last week’s GDoN-R)

Original GDoN Post is:  Here

Recent Listing is: Here .  To see pics, click on the main picture after opening the link.

Perusing the original Good Deal or Not (GDoN) post of this property, it struck me that an overwhelming majority called “good deal”.  Frequent GDoN readers know that this, indeed, is a rarity.  That was at the original list price of $345,000., so $315,000. plus $12,600. toward closing costs should look pretty sweet.  For reference, recently converted condos down the street (the last one I listed at 2608 Sherman, 2BR, nicely upgraded and staged, sold in May 2009 for $299,990. with a $7500. subsidy) are selling in a similar price range.

Some mentioned that Sherman is a busy street to be on, and for sure, that was the major objection I heard when I had my client’s condo on the market.  The lot size is a mere 869, but includes a bit of outdoor space.  Love it or hate it, as one reader mentioned, the new owners should never have trouble giving directions to their very yellow house.  I admire the listing agent’s optimism in noting that one of the conveniences of the property is that it is “close to Schools”.

The recent Seller purchased the property back in January 2009 when it was a foreclosure.  The listing from that time period shows that it was priced at $189,000., and settled at $180,000.  It was purchased with cash.

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