GDoN Revisited by Hipchickindc – 1824 11th St NW

Hipchickindc is a licensed real estate broker and a professional artist. Her official real estate bio is here and her art website is here. 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: 1824 11th St NW
Legal Subdivision: Old City #2
Advertised Subdivision per Listing: U St/Logan
Original List Price: $799,900.
List Price at Contract: $799,900.
List Date: 06/16/2011
Days on Market: 12

Settled Sales Price: $800,000.

Settlement Date: 08/10/2011
Seller Subsidy: $0.
Bank Owned?: No Short Sale? No
Type Of Financing: Conventional

Original Good Deal or Not post is: here

The listing can be seen: here. Pics can be seen by clicking through the arrows on the main pic after opening the listing link.

No doubt that DC is a city full of people constantly coming and going. I don’t know what the motivation was for the recent sellers of this home, but they had purchased it only back in February of 2009 for exactly what they listed it for this year. It appears they made some improvements, which you can see from the 2009 pics.

The upgrade that stands out to me is the change from the plain ole stainless steel stove to the Viking range. In my experience, appraisers like to ignore the differential of a less expensive stove vs. a several thousand dollar stove. For buyers who cook (I call them my kitchen buyers), that stove could sell them the house.

Continues after the jump.

Want to see what the interior looked like in 2003? The listing still has the linked virtual tour. State of the art for the early 2000’s, the rotating camera is supposed to give you the feel of really being in the space. Thank goodness we got over that trend quickly. The sale price at that time was $386,000. less an $11,000. subsidy toward closing.

The next time the property was listed was during the DC real estate bubble mania of 2005. The pics are nearly identical to the 2009 virtual tour, so I won’t bother re-posting. The property was listed at $689,000. and sold, presumably to the highest bidder, for $763,500. The good news for the neighborhood? It has twice since sold at a higher price than what many consider the peak value year.

The tax record indicates that back in 1994, likely still very much surrounded by the impact of the 1968 riots in the area, the home was purchased for $72,500.

16 Comment

  • Seems like a bargain compared to the 2 bedroom house about a block away listed for 899 that went under contract so quickly:

  • I LOVE this place. The only issues I have are personal taste. I like darker cabinets in the kitchen and I am not a huge fan of the brown paint color all over. But other than that this place is pretty much perfecto!

    In this market I would probably offer 775 but I think I’d be willing to pay full price if it came down to it.

  • WOW..major improvements since the 2003 tour. I had my eye on this for a client but it went under contract quickly. Fantastic location and I really love the Viking stove!

  • SouthwestDC

    I’m what you’d call a “kitchen buyer” and I really don’t care what kind of stove is in the kitchen as long as the space feels warm and welcoming. I spend a lot of time in there, after all.

    I find it’s the people who really don’t cook at all that are impressed with things like a Viking range. 🙂

  • I thought this house was staged nicely. Is there any way to find out if this was professionally staged and if so, who did it?

  • So in the “DC real estate bubble mania of 2005,” it was sold for $763,500 and now it sold for $800k? Is anyone else wondering what’s going on in this city?

    • People keep coming to DC from other parts of the country/world, mainly for work opportunities. Demand for housing grows.

      People who already work in DC but commute from the suburbs are moving into the city as traffic gets exponentially worse and gas prices go up. Demand for housing grows.

      The gentrification monster keeps growing, and along with it proprty values go up.

      None of this has anything to do with the national housing bubble.

    • The neighborhood has gotten a lot better since 2005.

  • Yes. I’ll add that Washington DC’s housing market has been undervalued for the region for decades due to the crime and stigma associated with living in the city. Unlike most cities similar to ours who underwent major redevelopment in the 70’s, 80’s & 90’s (NYC, Chicago, SanFran etc.) most people did not want to live here and they commuted from the burbs. Your townhouse in Columbia, MD was more expensive than a row house at 13th & U NW during that time. DC is just catching up…despite the housing debacle in this country.

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