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: 4600 49th St NW
Legal Subdivision: American University Park
Advertised Subdivision per Listing: American University Park
Original List Price: $739,000.
List Price at Contract: $700,000.
List Date: 08/31/2011
Days on Market: 172
Settled Sales Price: $695,000.
Seller Subsidy: $10,000.
Original List to Net Sales Price Ratio: 97.86% in relation to final listed price
Settlement Date: 06/29/2012
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.
The current subject house is of interest on one hand because in a whirlwind market cycle in DC, this property was listed and re-listed a total of three times since August 2011. Bottom line, it took a relatively long time to sell this house given current market stats. Whereas many buyers get to a point where they are focusing only upon newly listed inventory, here is a good example of why it’s useful to continue to check the entire listing inventory. Because the listing days for the property continue to accrue even when the property is re-entered as a new listing, it may have fallen outside the radar of buyers once the price entered into a more realistic zone.
Someone mentioned in the comments that there are similar homes in the Brookland neighborhood for significantly less, which is true. There are actually quite a few neighborhoods in DC that have cute bungalows. Here is a list of bungalow style detached homes sold since the beginning of 2012 throughout DC. The list is ordered by settled price.
Continues after the jump.
Although often used to categorize any type of small home, a bungalow is actually a specific style of home. Most bungalows in DC were likely built in the 1920’s and 1930’s. I found this brief history from architecture.about.com:
The Bungalow is an all American housing type, but it has its roots in India. In the province of Bengal, single-family homes were called bangla or bangala. British colonists adapted these one-story thatch-roofed huts to use as summer homes. The space-efficient floor plan of bungalow houses may have also been inspired by army tents and rural English cottages. The idea was to cluster the kitchen, dining area, bedrooms, and bathroom around a central living area.
The site emphasizes that the bungalow homes were designed for efficiency, with built in cabinets, shelves, and seats. A number of architects around the country focused on this style of residential architecture. In many cases, these homes were produced from kits sold through the Sears and Roebucks catalog. Although I couldn’t tell you the prevalence of Sears kit houses in DC, it is rarely a detail that is mentioned in a listing. In some parts of the country, these homes are quite sought after.