GDoN Revisited by Hipchickindc – 4330 Blagden Ave, NW


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 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: 4330 Blagden Ave NW
Legal Subdivision: Crestwood
Advertised Subdivision per Listing: Crestwood
Bedrooms: 5 Baths: 3
Living Area Square Footage per Tax Record: 2516
Lot Size per Tax Record: 7712
Original List Price for most recent listing: $960,000.
List Price at Contract: $895,990.
List Date: 1/4/2013
Days on Market: 247
Settled Sales Price: $896,000
Seller Subsidy: $10,750.
Settlement Date: 04/08/2013
Bank Owned?: No Short Sale? No
Original GDoN post is: here.
The listing can be seen:here .

Crestwood has the benefit of being tucked right over Rock Creek Park, yet is also just off 16th Street NW for a relatively quick trip downtown. Those who prefer Metro may not find it desirable, but buses run regularly up and down 16th. Some of us like to be smack dab in the middle of the urban environment, and plenty of folks enjoy the kind of retreat that a neighborhood like this provides.

In a real estate market where buyers are likely to miss out on the property of their dreams if they blink, this home was on the market for a considerable amount of time. There were actually several versions of the listing. The days on market above reflects the data in the most recent listing. In cases like this, we typically look to the price in relation to location as the culprit.

Back in 2004, which was during the climbing slope prior to the real estate bubble, the house sold in good condition (but not tricked out) for $659,000. In October 2011, the property went for net $480,150. as a short sale. In April 2012, the property was listed at $1,225,000. It failed to sell at that time despite some pretty schmancy staging. To see the difference between staged décor and professional photos vs. an unfurnished house, click the link above for the listing and click on the camera icon.

The listing agent was Brian Thomas of KL Associates, Inc. Marjorie Dick Stuart of W.C. & A.N. Miller Realtors (A Long and Foster Company) represented the buyer.

19 Comment

  • Wow, it’s amazing how much staging and professional photography makes a difference!

    It blows my mind how poor some listing photos are. I guess in this market a log could sell a house in the right neighborhood but I would think getting pro photos is definitely worth the investment for a seller. Even buying a entry level DSLR would probably recoup itself after one house sold.

  • I’d much rather spend $900k on something different – but it seemed to work for someone, so good for them.

  • GREAT neighborhood. Has been desirable for DECADES

    • I think the neighborhood does appeal to a slightly older population, partially because of the prices that houses there go for, but also there’s almost a suburban feel to the community. I don’t really feel like Crestwood has anything in the way of an infrastructure (shops, restaurants, schools, etc) that would appeal to younger families, although its proximity to the park is obviously a huge selling point. I also think the housing stock is odd.

      • If you believe that “fences make good neighbors” then this a great area for you. To get this kind of privacy and convenience to the city, you’d need to be west of the park and pay a lot more money. Yet you’re still close to hustle of downtown, businesses in Columbia Heights, and not exceedingly far from the metro (it’s a quick bike ride).

      • Neither does a lot of Peworth.

        *disclaimer* – I live in Petworth

        • Exactly. The young families who bought in Petworth did so because they couldn’t afford to be west of the park. It’s not like they moved there 5 years ago for the great schools, colorful characters, and thriving business community. Things are humming along in Petworth at a nice progress, but I’d rather have the privacy of Crestwood. It’s close enough to the action for me.

    • Agreed. Nice house, excellent neighborhood (if you like quiet & convenience to downtown), and a lot of house for a fair price in light of the current market conditions.

      Getting them to knock $65K off the ask is a lot in this market. I wonder if there was a tough negotiation after the inspection?

      • Writing a contract with an inspection contingency is a lot to ask in this market.

        • Tsar of Truxton

          +1 re: inspection contingency. However, I think the market is not as “hot” on homes in this price range. The 550k-700k market seems to be the worst (if you can even consider that one market).

        • Not when the house has been on the market for nearly 250 days. That’s kind of pathetic in this time of bidding wars.

    • I love Crestwood, and run right past this house. I think it’s a good deal.

      It’s not just “good fences make good neighbors” – it’s the proximity to the park, and the way that it’s a pocket tucked away. Also, it’s being in a detached home so you don’t have to share your neighbor’s: smoke, sex noises, choice of loud music, arguments, parking space(s) and yard weeds. There are a lot of things in favor of detached SFRs.

  • Btw, look at the original house on Google Maps:

    The new house is not even recognizable! This is way nicer than your standard flip. The curb appeal went waaaaaaaaaaay up.

    • Holy crap! I had to keep alt-tabbing between the pictures to even tell it was the same house. (I’m still not sure if it is!)

      • LOL, I did the same thing! You can tell it’s the same house – look at the 4 windows on the front and the side windows on the right side. They are still in the same location.

        This was a helluva renovation.

        I’m really interested in who ended up buying the house – they got it at a $350K discount from the original list of $1.2mn and then they got another $65k knocked off at the end. Maybe a relative of the developer? I’m sure the developer really needed to finally cash out after 200+ days on the market It’s a sweetheart deal, that’s for sure.

        • The developer may have needed to pay off the loan. My understanding is that many developers take out very short-term loans to finance the flips.

  • Really nice looking house. A bit surprising that the house sat for so long. I have always heard that Crestwood is a really desireable neighborhood and not a lot of homes come on the market there. But I guess it proves that it’s not just location, location, location, but also price, price, price. $1.2M was clearly a bit of a reach.

    I love the professional photos but hate the staging in the first listing. It’s fine to give potential buyers a sense of what they can do with various spaces in a house. But the result in this case – particularly the living, dining, kitchen space – looks waaaay too cluttered. You don’t need to put somethingin every square inch of floor and wall space when you are staging a home.

  • So, flipping between the Google street view and the listing, I’m trying to figure this out — did it used to be that one entered the house at the lower level, and now the front door has been moved up to the upper level with the new porch?

    And if that’s the case — were the kitchen and living rooms originally downstairs, with bedrooms all up, or was it just set up that you entered the lower level family room area and then went upstairs to the kitchen and DR?

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