GDoN Revisited by Hipchickindc – 1367 Perry 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 the Principal Broker (DC) for Urban Pace, LLC. 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: 1367 Perry Pl NW
Legal Subdivision: Columbia Heights
Advertised Subdivision per Listing: Columbia Heights
Original List Price: $569,900.
List Price at Contract: $549,900.
List Date: 11/12/2010
Days on Market: 106
Settled Sales Price: $540,000.
Settlement Date: 03/24/2011
Seller Subsidy: $0.
Bank Owned?: No Short Sale? No
Type Of Financing: Conventional

Original Good Deal or Not post is: hereThe listing can be seen: here. A virtual tour can be seen here.

Located just north of the Columbia Heights 14th Street development, and a tad west of the development around the Petworth Metro, this location is in the midst of a surge of real estate activity. Given that prices have continued to rise around the Columbia Heights Metro and there are fewer opportunities for acquiring properties to develop, it makes sense that both investors and buyers are moving to the peripheral areas. In looking at the sales activity within ¼ mile of this property (active listings, pending sales, and settled sales since 09/01/2010), there are only four active listings at present, ten pending sales, and a whopping twenty one settled sales in this small boundary within only six or so months. Here is the market analysis.

Continues after the jump.

Regarding this particular home, it was listed just before Thanksgiving. It stayed on the market for a while, despite a nice renovation. Some commenters noted that there was a lot of grass and no parking. Unfortunately, the photos did not reflect that there are apparently two parking spots behind the fenced in area. The yard is also notably large for downtown DC, at 1992 square feet.

The recent sellers purchased the property with cash in late August of 2010. The listing agent is Sunil Chhabra of A-K Real Estate. I am currently involved in a transaction on another property with Sunil and his investors. I’ve been very impressed at the quality of the work and how responsive the developer has been.