This apartment is located at New York Ave and N Street, NW:

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The Craigslist ad has expired but a reader is still curious as to whether you think it’s a good deal. They write:

“It’s the lower level of a Victorian that sits on the corner of NY Ave. and N St. NW. I went to see it and the space is really nice, hardwood floors, has 14 windows and an outdoor space in the back, new washer dryer, updated bathroom, etc. I’ve been looking for awhile and this is pretty much perfect except it’s on NY Ave which is an enormously busy street, and it’s a lower level although it does get tons of light. I’m familiar with the neighborhood already and would only be moving a few blocks south of the place I’m currently staying. I’d love to get your readers input as to whether $1150 is too much to pay for a 1 bedroom in this location.”

I think $1150 sounds legit for a proper one bedroom with all those windows. What do you guys think?

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This rental is located at First Street NW at New York Avenue NW:

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The craigslist ad says:

“1 Bedroom apartment in 4 unit building. Central Air, Washer/Dryers, parking, pets possible. Near Dog park. 6 blocks to Georgetown law school, 10 blocks to capital Hill, 7 blocks to chinatown. 3 blocks to red green and yellow line metros. Available February 1st.”

We’ve definitely looked at this house before. I’ve always admired that balcony up top. So do you think $1225 sounds reasonable for this 1 bedroom?

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Last week a commenter mentioned that they were really looking forward to the coffee shop going in at 3rd and P Streets, NW. I have to admit I had never heard of that possibility. So I walked by the area last weekend and spoke to a few neighbors. They told me that they had read online that it was either going to become a coffee shop or wine store with a Georgian community center on the second floor. I finally found where they read that – on the Bates Area Civic Association Web site. From August:

“Mamuka Tsereteli spoke on his plans as owner of the commercial property at the NW corner of 3rd and P St NW. The first floor is zoned for commercial use and second floor for residential. He envisions a wine store or market store. He said he is renovating the property currently, which should be complete in the next two months. He said his intentions were to use the space upstairs to hold cultural events related to the country of Georgia, like art shows, musical performances.

He said he came to hear from the community what they would like in the space downstairs. Ultimately, he will be leasing the space out to another business.”

The neighbors I spoke with said they’d much prefer a coffee shop to a wine shop but are excited about the progress on the building. It is looking good. I’ll be sure to update as more info becomes available.

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It’s been a while since we’ve judged a new building. I guess the economy and all… But I passed this one on 5th Street, NW just south of P. It looks like there are still some finishing touches going on but overall would you give it a thumbs up or down?

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Photo provided by DCRA

Thanks to all who wrote in about this update. We’ve been following this process very closely. I know some folks don’t think it is a big deal, I can say from speaking to neighbors who live around there, they are very excited to have this eyesore removed. I am too.

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Last we heard a lawsuit was still going on and DC’s Department of Health had rented a spot in the meantime. On twitter I was  alerted to the following note from @DCRA:

“Owners of 4th and P St. billboards now have until January 1, 2010 to remove.”

They also link to a report from DCRA’s Web site:

“The District of Columbia imposed a permanent moratorium upon the issuance of any permits for the erection or construction of a “Special Sign.” Only 32 Special Signs are legally allowed to exist in the District. A Special Sign is not a billboard – at least in legal terms (see below for information on billboards). These legal Special Signs are similar to liquor licenses in that they can be bought and sold and can be moved from location to location within limited boundaries as defined the Act below. Continues after the jump. Read Full Post

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Back in October we learned that DC was trying to get Clear Channel to voluntarily remove these billboards at the corner of 4th and P Streets, NW. At the time we learned that Clear Channel refused and filed a lawsuit. I noticed that the signs were still up. But what I thought was particularly interesting was that if the “District Government” was trying to get these sign removed – does it make sense that they would use one (even for a good cause)?

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This home is located at 137 P Street, NW:

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The flier says:

“Great 2 Unit Semi-Detached w/ 2-Car Garage w/ Overhead door. Fully Renovated top 2 bottom w/ laminate floors, maple cabinets, granite, new appliances. One bedroom + den unit upstairs; two bedroom on main and lower level. New Sump Pump and dry basement. Separately metered. Live in one & rent other. Condo conv. process started but not finished.”

More info and photos found here.

Anyone know what they mean by Condo conv. started but not finished? How easy would it be to finish it? Does $400,900 sound reasonable?

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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: 203 Morgan St NW

Original List Price: $499,000.

List Price at Contract: $459,900.

List Date: 5/15/2009

Days on Market: 130

Settled Sales Price: $457,500.

Settlement Date:  10/27/2009

Seller Subsidy:  $3,000.

Bank Owned?: No

Type Of Financing: FHA loan which would indicate a minimum of a 3.5% down payment (listing states loan amount of $449,213., which I suspect is incorrect).

Original GDoN Post is:   Here.

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

Last week I revisited a property just north of Dunbar High School. This one is a short distance south of Dunbar, on a quiet one way street that is tucked just off of New Jersey Avenue, seconds (if you hit the lights right) from the third street tunnel. I was sent a heads up about this property closing by one of my own clients, who settled on a property on the same block a couple of weeks ago, for which he is planning to do extensive renovation. 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: 1423 New Jersey Ave NW

Original List Price: $524,900.

List Price at Contract: $475,000.

List Date: 3/3/2009

Days on Market: 181

Settled Sales Price: $475,000.

Settlement Date:  10/15/2009

Seller Subsidy:  $15,000.

Bank Owned?: No

Type Of Financing: Conventional (loan amount not noted, but probably at least 10% down payment, since currently a less than 10% conventional loan is not likely to sell on the secondary market.)

Original GDoN Post is: Here.

Recent Listing is: Here. Virtual Tour is Here.

Commenters on the original Good Deal or Not (GDoN) post speculated that this house was worth anything from $300,000. To $400,000. One person thought $435,000 to $452,000. With the closing cost subsidy, the net price ended up at $450,000. I’m so glad to see PoP continuing to get around to different neighborhoods in the city. Several readers noted that they found this area of less interest than some more commercially populated spots. For someone who needs to zip onto 395, it’s a very convenient location. It’s also quite close in to downtown. The main objection I’ve had from clients when showing on New Jersey Avenue is primarily that it is a busy street. I showed this property when it was recently on the market and though not to my taste, I found the quality of the construction was actually pretty solid.

The research on this property was kind of fun for me since I learned that during the four transfers of ownership prior to this sale since 2002, I’ve known and previously done business with two of the parties who owned it. Both are cash investors with long family ties to the real estate investment business in DC. (Note that I was not involved with them on any of the transactions for this particular property.) Also kind of interesting was the frequent change of exterior color. In 2002, the house was blue. I guess someone felt the need to tone it down and painted it beige somewhere around 2003. The most recent listing features it painted olive green. You can see the pics by opening this link and scrolling through by clicking “next” after opening the first listing.

For anyone that needs a reminder of the insanity of the DC real estate market over the past seven years or so, here you go:

2002 Purchased as a shell for $135,000.

2003 Sold as a shell for $189,000.

2004 Sold as a shell AND a foreclosure, purchased with cash for $210,000.

2005 Sold as a shell for $315,000.

2009 Sold Renovated for $450,000. Net (Current Sale)

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Back in early October we learned that these billboards were supposed to be removed by Oct. 6th. Clearly that didn’t happen. A reader explains why:

“Email to the community, October 19, 2009, from DCRA Director, Linda Argo.

“Last week, the District Government tried to negotiate with Clear Channel for voluntary removal of the billboards. When the parties failed to reach an agreement by Friday, the District Government informed Clear Channel that removal of the billboards by the government was imminent. In response, Clear Channel filed a lawsuit against the District this morning in D.C. Superior Court, seeking a Temporary Restraining Order (TRO) to stop the District from removing the billboards. The billboards will remain in place at least until the hearing on the motion for a TRO, which has been set for Wednesday afternoon.”

According to the D.C. Superior Court website, the case number is “2009 CA 007776 B CLEAR CHANNEL OUTDOOR, INC Vs. THE DISTRICT OF COLUMBIA” and is scheduled to be heard at 3:30 PM, Wednesday, October 21st, 2009″

http://dcbaca.wordpress.com/2009/10/19/billboard-update-clear-channel-files-lawsuit-seeks-temporary-restraining-order-to-appear-in-court/

If the DC Code states, “DC Code that stipulates that billboards must not be located within 200 feet of another billboard and within 200 feet of a residential neighborhood.” then what could Clear Channel be arguing?

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This home is located at 1421 1st Street, NW:

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The flier says:

“This home features hardwood floors, exposed brick, and tons of light. Renovated in 2003. Walk to METRO. IMPORTANT sale includes Lot 843 which is a large parcel in the back. Email for copy of survey. Combined total sq feet estimated to be 3213. Zoned R4. Property shows well and is sold in AS IS condition.”

More info and photos found here.

I don’t know why I keep finding these 2 bedroom houses but here’s another. I do like the exposed brick. And the backyard is pretty sweet too. It’s interesting that it includes a parcel of land as well. Not sure what one would do with that? Build a garage? What do you think of the home itself? Does $379,000 sound reasonable for this 2 bed/1.5 bath (and adjacent lot)?

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A friend of mine lives a couple of blocks away and everytime I’ve passed them I’ve thought they were a terrible eyesore. I’m happy to see that the Bates Area Civic Association has a photo of the removal order which says:

“The notice, authorized by DCRA Director, Linda Argo, cites DC Code that stipulates that billboards must not be located within 200 feet of another billboard and within 200 feet of a residential neighborhood.”

I think this is great news. What do you guys think about billboards like this? What about the big signs on the sides of buildings?

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This home is located at 1547 4th Street, NW:

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The flier says:

“Spread out in this sun filled, spacious federal style townhome in the heart of Shaw! Luxury awaits you as you enter this renovated home to its original historic charm! Hardwoods, exposed brick, beamed cathedral ceilings and so much more!”

More info and photos found here.

I think this is a good looking house. Though, it’s interesting that it is three levels but only has 2 bedrooms. What do you think of the renovations/photos? Does $479,900 sound reasonable?

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This home is located at 1423 New Jersey Ave, NW:

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The flier says:

“Wonderful complete NEW redo – roof, systems, entire inside! Gorgeous HW flrs, marble entry, new stairs, Great kitchen with granite, SS appliances and nice cabinets, custom closets, recessed lights, marble baths, off street parking, fenced rear garden, extra storage. High quality full renovation with attention to detail. WOW new 3 level redo rowhouse – less than a 2 bed condo!! Great find!!”

More info found here and a virtual tour found here.

This looks like a nice reno but I’m curious what you think because it’s been on the market 128 days. I’m guessing folks will have a lot to say about the location. It was originally going for $524,900 but is now on the market for $499,000. Sound reasonable?

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