GDoN Revisited by Hipchickindc – 132 U Street, 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: 132 U St NW
Legal Subdivision: LeDroit Park
Advertised Subdivision per Listing: Bloomingdale
Bedrooms: 3 Baths: 3 Parking: Drvwy/Off Street Ownership: Fee Simple
Original List Price: $799,900.
List Price at Contract: $799,000.
List Date: 5/14/2014
Days on Market: 7
Settled Sales Price: $910,500.
Seller Subsidy: $0.
Settlement Date: 6/23/2014
Bank Owned?: No Short Sale? No

Original GDoN post is: here.
The original listing can be seen here: here.

Previously featured on the Bloomingdale Civic Association’s Bloomingdale House Tour, this high quality renovated two unit Victorian drew an impressive escalation in price. With a Rammy award winning restaurant in the neighborhood, it’s hard for Bloomingdale to fly under the radar anymore, as it did for so many years.

2014 saw the first ever $1,000,000+ sales in Bloomingdale for homes with just two (as opposed to three) levels above grade. This explains why even some properties in not so great shape are selling over $600,000.

The listing agents were Alex Delorme and Laura Bowman Pimentel of Lindsay Reishman Real Estate, Inc. The buyer was represented by Nathan Guggenheim of Washington Fine Properties.

13 Comment

  • Not surprised it went over list, but didn’t anticipate that much. Nice place.

    A row house on 1st that was just converted to 2 condos just had an open house last weekend and now both are pending. One for $786k, the other for $820k. Curious to see what they settle at.

    • Probably asking price/ VERY close to it (if not over).

    • Has all this money always been in DC? Seriously or are this a case of people cashing out and upgrading?

      • Seriously. I bought my house only 4 years ago and couldn’t afford anything in my neighborhood today. Just seems crazy.

        • jim_ed

          We bought 2 years ago and couldn’t afford our neighborhood today. The funny thing is, when we signed the contract, we thought we had slightly overpaid for the area – looking back at that naivety now always gives us a good laugh.

      • I bought in 2012 in Bloomingdale (although not even close to this price) so if my experience, and that of the people I know that are buying, is any indication, the answer is that DC has always been full of the potential for this money, but that people used to leave before they bought and now they’re deciding to stay.

        My husband and I are pretty cliche ‘young professionals’ who saved up through our 20s and around 30, when we decided we wanted to buy, faced the choice of a) leaving the area altogether, b) leaving the city for the ‘burbs, or c) buying a house in our price range, which meant betting on an “up and coming” neighborhood (I’ll let others debate whether B’dale was “up and coming” or “already arrived” circa 2012, but nevertheless). I can certainly see how in years past, 10, hell, even 5 years ago, the more attractive option would have been to leave the city, but now the city is starting to really have a pull of its own outside of the job opportunities that brought us here. So we decided to commit to DC officially and put down our roots here. It seems like many of my friends had a similar train of thought. Now, to be fair, most of us are in the $400-$600 range, but, there’s probably some folks not unlike us with fancier jobs and bigger budgets.

        Just my perspective.

        • I’ll also add that this place has a rental unit that could easily go for $1600, so, you figure the mortgage on a $800,000 loan + taxes + PMI is going to be about $4000, minus $1600, you’re looking at a monthly payment of $2400 which is totally comparable to a 2-bedroom rental of this quality. And that’s only putting $100,000 down (I know, “only”, but still, it’s much less than the recommend 20%).

          • I have only and will continue to only buy homes with a basement unit. It’s the way to go..I’d recommend everyone to convert their basement into a rental unit. ..even if it’s not separately metered.

          • Actually, my husband and I have been going through the buying process and were told that if there is a rental unit, you need to have 20% down now. So, these people had close to $200K to put down on the property.

      • No, this is new for most of DC. Upper NW always had money, but the rest …. craziness.

        Before the white-flight, DC was a very mixed income city. (yes, even after the riots). But the 80’s-early 90’s… people fled the drug crimes and collapse of the city government.

        And now.. it is what it is. Money money and money…. if only the housing crash had affected DC like it did everywhere else…. there might not be such craziness….. but nah, doubt that.

        • “Early 90s” is 20+ years ago; I assumed the poster was talking more about the last decade or so, which I could speak to. And I do think the housing spike of the last 10 years is at least somewhat fueled by those young professionals deciding to buy here instead of leave when they become somewhat successful, not-so-young professionals.

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