GDoN Revisited by Hipchickindc – 1376 F St, NE

Hipchickindc is a licensed real estate broker. She is the founder of 10 Square Team and is affiliated with Keller Williams Capital Properties. 10 Square Team is a princeofpetworth.com advertiser. 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: 1376 F St NE
Legal Subdivision: Old City #1
Advertised Subdivision per Listing: Capitol Hill
Original List Price: $598,750.
List Price at Contract: $600,000.
List Date: 02/01/2012
Days on Market: 9
Settled Sales Price: $600,000.
Settlement Date: 03/30/2012
Seller Subsidy: $5000.
Bank Owned?: No Short Sale? No
Type Of Financing: FHA
Original GDoN post is: here.
The listing can be seen: here. To see pics, open the listing link, click on the main pic and scroll through.

I don’t normally do this, but just couldn’t resist. Here are some quotes from the comments on the original “Good Deal or Not” (GDoN) post:

“I can understand prices like this in this neighborhood (though still something of a gamble) if you’re planning on staying for 20 years, but to me it’s way overpriced.”

“We looked at this house this weekend at an open house on Saturday. Place was packed. Our realtor told us that two offers were already on the table, before we even walked into the house. He also told us that the house was underpriced and will likely start a bidding war. He thought it’d end up going for upwards of $725-750.”

“I’d say your realtor is right on the money with that guess. And good luck with your house hunt– it’s really competitive on the Hill but it will be worth it!”

“Let us know your realtors name when this doesn’t go for 725-750. Then we will know who not to hire.” (It’s probably better if you don’t).

“I think it’s quite a nice looking place. I’d only pay $200K for it though.”

“I would like to throw my hat into the ring as well. This place will sell for no less than $650k. I am betting on it closing higher, but I just want to be able to laugh at all the people on here who say this is overpriced. You are all very out of touch. If this place goes for anything less than $650k I hereby give you permission to scoff at and humiliate me.” That was from Jordan. S/he gives you permission to scoff.

The earliest available reported sale of this property was in 2003 when it was listed for $299,000. and sold for a net of $275,900. In 2007 it was listed for $587,550. and sold at that price. Unfortunately, it was later foreclosed upon. The recent sellers purchased the home for a net of $573,728. in 2010.

Here are settled sales of Victorian style homes, with basements, in renovated condition, in that area, sold within the past year. There are sales into the $700,000’s, but they are for larger units and a few blocks to the west.