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: 1300 F St NE
Legal Subdivision: Old City #1
Advertised Subdivision per Listing: Capitol Hill
Original List Price: $779,000.
List Price at Contract: $779,000.
List Date: 05/03/2012
Days on Market: 7
Settled Sales Price: $779,000.
Seller Subsidy: $1,500.
Original List to Net Sales Price Ratio: 99.81%
Settlement Date: 06/22/2012
Bank Owned?: No Short Sale? No
Type Of Financing: Conventional
Original GDoN post is: here.
The listing can be seen: here. The photos can be seen by clicking on the listing link, then scrolling through the pictures starting with the main photo. Here is the virtual tour from the 2007 listing.
In April, we looked at another sale on this block at 1376 F St NE, which sold for Net $595,000.
Continues after the jump.
As was mentioned in the original Good Deal or Not (GDoN) comments, anybody who is looking to buy a house right now (in many areas of the city, not just Capitol Hill-ish parts of town) is being met with a very limited number of active listings, which are being snapped up quickly by buyers motivated by crazy low interest rates. The May year-over-year numbers released this month by Real Estate Business Intelligence, a subsidiary of Metropolitan Regional Information Systems, show a 27.65% decrease in active inventory (comparing May 2012 to May 2011) for the 20002 zip code. In accordance with the laws of supply and demand, the average sold price in zip 20002 was 9.5% higher in May 2012 than it was in May 2011. Although it may take a few more months to get clear perspective via the actual data, real estate agents working in the District are anecdotally noting a recent increase in prices in some neighborhoods within a very short period of time.
That said, the current subject property is the highest sale in relation to other similar sized homes sold within a ¼ mile since April 2012. This large porch front corner home was purchased by the recent sellers in 2007 for $756,000. In 2001, the home was sold when it was in poor condition for $215,000. less a $2500. subsidy. The financing vehicle at that time was an FHA loan, which suggests that the renovation was likely performed by an owner occupant rather than an investor.