GDoN Revisited by Hipchickindc – 748 Princeton Place NW

Voted one of the best real estate agents in DC by the Washington City Paper Readers’ Choice Poll in 2009, hipchickindc aka the not-so-hip Suzanne Des Marais is an Associate Broker with Urban Pace. 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: 748 Princeton Place NW
Legal Subdivision: Columbia Heights
Original List Price: $598,000.
List Price at Contract: $569,000.
List Date: 09/18/2010
Days on Market: 48
Settled Sales Price: $575,000.
Settlement Date: 11/30/2010
Seller Subsidy: $20,000.
Bank Owned?: No Short Sale? No
Type Of Financing: Conventional

Original GDoN is: here.

The Listing can be seen: here. To see pics of each listing open the listing link, click on the main pic, and scroll through.

Purchased as a foreclosure in May for $324,000., this property was back on the market completely renovated by September. Although it hung around for over a month on the market, it sold at a net of $555,000.

The recent owners of 748 Princeton Place NW travel under the name of Superior Properties, LLC. In 2010 alone, they show up on record as having purchased a total of six properties (including the subject), all located in Petworth and Columbia Heights. Of those six properties, one is active, one has not yet hit the market, one is under contract, and three have sold. If you’re interested in other examples of their work, you can see those listings here.

Continues after the jump.

Recently there has been scrutiny of the foreclosure processes all across the country. DC is no exception and recent legislation, as well as a statement of enforcement issued by DC Attorney General Peter Nickles could bring foreclosure sales to a screeching halt. Whereas it is extremely important to address consumer protections with regard to the foreclosure process, concerns are being raised by both lenders and title insurers that procedures have not been put in place to adequately comply with the new legislation and statement by the Attorney General.

I am raising this issue because it could potentially affect the supply of available renovated homes for the 2011 Spring market in DC. It will also affect anybody, regular homeowner or investor, who is in the process of trying to settle or is considering purchasing a home that has already been through a foreclosure.

14 Comment

  • Hey Hipchick,
    What’s the deal with the renovated place on the corner of Princeton and Warder? There have been a few open houses but I’ve not been able to make any of them. Is it a nice job?

  • I absolutely despise these open floorplans, although I know they are very popular now. Where the heck are you supposed to hang your art or put the china cabinet? OK, maybe I’m old fashioned. Also, the doors and windows look Home Depot cheap to me. woof.

  • I think the main advantage to open floorplans is that a lot of these houses are fairly small, so the older traditional floorplans create small, cramped rooms. While you may have plenty of walls to place your art, you can have a really hard time figuring out how to live and maneuver around the space. For smaller properties, open can make more sense, but I agree it’s case by case.

    • I agree, I think it mainly has to do with flexibility. Say you have tiny dining room, and can’t fit the 90″ table you want. Oh well. Not so when you have a nebulously delineated dining area. Open floorplans accommodate the needs of the greatest number of people.

      I’ve been in some giant DC houses with no walls — and it works. We crave the ability to see depth. It’s like the difference between a cave and an open vista.

      Another reason is that attached rowhouses don’t have many windows, so an open floorplan brings the maximum amount of daylight into each part of the house. People like bright, spacious looking homes.

    • Think again. Opening up a 600 square foot first floor completely can make a house seem a LOT smaller than if there are walls in place to divide the space.

      • SouthwestDC

        I was going to say the same. Nothing emphasizes the smallness of a house better than when you can see straight through from the front door to the back.

        In general I think the open layout works better for condos than for houses, and I think it’s sad when they knock down walls in these old rowhouses. A few here and there is ok, but any more than that and you lose a lot of the house’s charm.

  • All of their homes seem to use that same color for the banisters and railings and for the trim in the basements….

  • Everyone made out well on this one.

  • Nice house – I say good deal.

Comments are closed.