GDoN Revisited by Hipchickindc

In real life, hipchickindc is actually the not-so-hip Suzanne Des Marais, an associate broker with Urban Pace. Voted one of the best real estate agents in DC by the Washington City Paper Readers’ Choice Poll in 2009, Suzanne is currently Chair of the DC Public Policy Committee for the Greater Capital Area Association of REALTORS® and is President Elect of the Washington, DC Association of REALTORS®. She lives (and sells a lot of houses) in Bloomingdale, but works all over DC, with everyone from first time buyers to highly regarded developers.

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: 630 15th St NE

Original List Price: $449,900.

List Price at Contract: $449,900.

List Date: 03/19/2010

Days on Market: 12

Settled Sales Price: $460,000.

Settlement Date: 05/11/2010

Seller Subsidy: $0.

Bank Owned?: No

Type Of Financing: Conventional

Original GDoN is: here.

Listing is: here. To see pics, click on the link for the listing, click on the main pic and follow arrows to scroll through.

Not surprisingly, the original Good Deal or Not (GDoN) post regarding this property brought on a debate over whether this location is in fact Capitol Hill or Not Capitol Hill or Old City or H Street. Doing some poking around online, I found that the Rosedale Citizens’ Alliance Blog has claimed the property as being on the edge of Rosedale boundaries, so I’ll go with that. Given its proximity to the burgeoning H Street corridor, Rosedale has seen a bit of a revival lately. The neighborhood was enthusiastically portrayed in April as part of The Washington Post’s Where We Live series.

The momentum created by the Federal Housing Tax Credit (for which the contract deadline was the 30th of April) was very good to Rosedale, with 36 settled sales since the beginning of 2010, several of which escalated above list price. The lowest sale for a house (not condo) was $68,500., while a property on Tennessee Avenue sold for $533,000. (The Rosedale Citizens’ Alliance Blog lists 15th Street as the far west boundary, so Tennessee Ave may technically be a few feet outside the invisible lines). Current active listings for houses range from $149,000 to $339,900.

7 Comment

  • Sold quickly and above asking. Once again, the majority of commenters on these GDON posts look foolish. My favorite was the one who said it was $50K overpriced. Good eye.

  • how exactly does a house end up settling for more than the contract price?

    • lordscarlet

      It’s not the contract price, it’s the “List price at contract.” In other words, that’s how much they were listed in MLS on the day the contract was ratified.

  • I looked at this house when it first went on the market. By the following Monday after I saw it, there were multiple offers, and I couldn’t compete with bidders that were going to send it up past the asking price.

  • all the tax credit did was pull housing demand forward from the future. and put on your home equity helmet and look out below!

  • I’d call it where Capitol Hill meets Rosedale or H Street Corridor. I think of Rosedale as starting after you cross 15th. It is definitely on the edge of those three areas and not clearly one or the other, but I suspect we’ll be calling it Capitol Hill in a year or two. Either way, not surprised it went over asking. It’s a great spot to invest and a nice home in a pretty good location for that amount of money.

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