GDoN revisited

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GDoN revisited
Adams Morgan
02/25/13 11:00am

GDoN Revisited by Hipchickindc – 2205 Ontario Rd, NW

by
Real Estate
4 Comments

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 popville.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: 2205 Ontario Rd NW
Legal Subdivision: Mount Pleasant
Advertised Subdivision per Listing: Adams Morgan
Original List Price: $574,000
List Price at Contract: $615,000
List Date: 1/8/13
Days on Market: 7
Settled Sales Price: $615,000
Seller Subsidy: $0
Settlement Date: 2/13/13
Bank Owned?: No Short Sale? No
Original List to Net Sold Price Ratio: 107.14%

Original GDoN post is: here.

The listing can be seen: here.  To see pics, click on the camera icon after opening the link.

I had a client who was very interested in this house because of the location, but also because it’s cute and has a nice, private outdoor space. By the time we had seen it…it was listed on Tuesday and we didn’t get in until Saturday, there were already at least two pre-inspections scheduled (meaning people paid a home inspector to inspect a house they did not have under contract so they could have the peace of mind to eliminate any contingency for inspection). During the brief time we were in the property, which was not during the open house, we crossed paths with several potential buyers and their agents. My client really liked the property, but ultimately decided that the frenzy was just a bit too overwhelming and chose not to make an offer.

Continues after the jump. (more…)

GDoN revisited
H Street NE
02/15/13 11:00am

GDoN Revisited by Hipchickindc – 1115 I Street, NE

by
Real Estate
6 Comments

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 popville.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: 1115 I St, NE
Legal Subdivision: Old City #1
Advertised Subdivision per Listing: Capitol Hill
Original List Price: $648,500
List Price at Contract: $670,000
List Date: 1/3/13
Days on Market: 6
Settled Sales Price: $670,000
Seller Subsidy: $0
Settlement Date: 2/8/13
Bank Owned?: No Short Sale? No
Original GDoN post is: here.
The listing can be seen: here. To see pics, click on the camera icon after opening the link.

Looking up the tax record for this property reminded me how confusing this city can sometimes be to newcomers. There is a piece of property located at 1115 I Street in all quadrants except Southwest. Further confusing is that both 1115 I St NE and 1115 I St SE might be referred to as being in “Capitol Hill” (which it is in this listing). I do realize that north of H Street is a stretch to be called “Capitol Hill”, but for real estate purposes, that’s shorthand for “that side of town”.

Continues after the jump. (more…)

GDoN revisited
Forest Hills
02/08/13 11:00am

GDoN Revisited by Hipchickindc – 3901 Connecticut Avenue, NW

by
Real Estate, Van Ness
3 Comments

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 popville.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: 3901 Connecticut Ave NW, Unit 212
Legal Subdivision: Forest Hills
Advertised Subdivision per Listing: Forest Hills
Original List Price: $344,000
List Price at Contract: $344,000
List Date: 11/27/2012
Days on Market: 15
Settled Sales Price: $356,000
Seller Subsidy: $0
List to Net Sales Price Ratio: 103.49%
Settled price per square foot: $430.
Settlement Date: 1/30/2013
Bank Owned?: No Short Sale? No
Original GDoN post is: here.
The listing can be seen: here. To see pics, click on the camera icon after opening the link.

Forest Hills is largely populated by multi unit properties built as grand apartment buildings in the 1920’s and 1930’s, many of which made it in to historian James Goode’s notable “Best Addresses” book. While some remain rental apartment buildings, a good number have been converted to cooperatives or condo ownership.

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GDoN revisited
Capitol Hill
02/01/13 11:00am

GDoN Revisited by Hipchickindc – 1309 C Street, NE

by
Hill East, Real Estate
3 Comments

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 popville.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: 1309 C St NE
Legal Subdivision: Old City #1
Advertised Subdivision per Listing: Capitol Hill
Original List Price: $569,777
List Price at Contract: $569,777
List Date: 12/14/2012
Days on Market: 4
Settled Sales Price: $596,000
Seller Subsidy: $17,500
List to Net Sales Price Ratio: 101.52%
Settlement Date: 1/23/2013
Bank Owned?: No Short Sale? No
Original GDoN post is: here.
The listing can be seen: here. To see pics, click on the camera icon after opening the link.

DC has always presented challenges for pricing homes, given that perception of value can change from block to block, and homes can represent a range of conditions, finishes, and sizes. When I looked up recent activity in the immediate area surrounding this home since July 2012, pending and settled sales ran the gamut from a list price for a bank owned house at $270,000., to a $1,100,000. sale on the 1100 block of E St NE. On the 1300 block of C St NE alone, besides the sale of the subject property, there was a sale for $729,000., and there are two pending house sales (listed at $375,000. and 468,500.)

Currently, there are three active listings in the immediate area. All over DC, there are motivated buyers watching to see what new listings show up for the weekend.

The listing agent for 1309 C St NE was Robert Bergman with RE/MAX Allegiance. The Purchaser was represented by my colleague, Kara Johnson with Keller Williams Capital Properties.

GDoN revisited
01/25/13 11:00am

Dear PoPville – Good Deal or Not Revisited? A tale of 2 houses

by
Real Estate
40 Comments

Ed. Note: Regular GDoN Revisited contributor hipchickindc is down with the flu. Feel better hipchick!

Dear PoPville,

Recently you had a post about retaining the original details in a house. Something interesting that happened this year down a few blocks down the street. Two houses were purchased in the same row and were remodeled and sold. The interesting part is that they are basically started as the exact same house with the same base layout. I am wondering what the readers think — which was a better deal, which one people like more, and what do they like or not like about each?

Here are some more details. Please note, that some of these details maybe estimated.

House 1: 5523 2nd St NW

Asking: $400,000
Sold: $421,000
Time on market: 1 open house for 2 hours resulted in a bidding war.
Description: House was in disrepair, so it was gutted. Layout of the house was changed with led for to a nice master suite. Bathrooms were moved also. Laundry on second floor. The purchase
Remodel done by some large all-in-one buy it, remodel it, sell it company.

House 2: 5527 2nd St NW (more photos here.)

Asking: $450,000
Sold: $427,000
Time on market: 2 months — went under contract after 2 open houses, but possibly fell through, then went under contract again.
Description: Original details were maintained as much as possible. Less open w/ more room separation. Master bedroom has vaulted ceiling.
Remodel done by Lofft Construction, a local place on Kennedy.

GDoN revisited
Eckington
01/18/13 11:00am

GDoN Revisited by Hipchickindc – 302 Todd Place NE #2

by
Real Estate
6 Comments

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 popville.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: 302 Todd Place NE #2
Legal Subdivision: Eckington
Advertised Subdivision per Listing: Eckington
Original List Price: $264,750.
List Price at Contract: $264,750.
List Date: 8/3/2012
Days on Market: 124
Settled Sales Price: $272,750.
Seller Subsidy: $4362
Listing to Net Sales Price Ratio: 101.37%
Settlement Date: 1/10/2013
Bank Owned?: No Short Sale? No
Original GDoN post is: here.
The listings for both unit 2 & unit 4 can be seen: here. To see pics, click on the camera icon after opening the link.

The legal subdivision of Eckington straddles North Capitol Street north of Florida Avenue and runs all the way to Rhode Island Avenue. The triangle formed by the intersection of Florida Ave, Rhode Island Ave, and North Cap is part of the legal subdivision of Eckington, but is considered part of the Bloomingdale neighborhood by residents. Although one may see real estate listings identified as Eckington on the west side of North Capitol Street, “Real” Eckington is typically considered the neighborhood on the east side.

North Capitol Street creates a significant geographic boundary, and yes, Bloomingdale has risen more rapidly in terms of commercial development and price appreciation. However, the real estate market in Eckington is keeping pace pretty well. Considering proximity to the Red Line, Harris Teeter, NOMA, and Union Market (aka my recent favorite place in DC), there is a good amount of buyer interest in the neighborhood.

Including the sales in this building, Eckington saw a total of 21 settled condo sales between January 2012 and present. Settled condo prices ranged from $51,000. for a 400 square foot basement one bedroom all the way to $539,900. for an 1840 square foot three bedroom duplex unit in a Victorian rowhome. Fee simple sales in 2012 started at $205,000. and maxed at $679,000..

GDoN revisited
Crestwood
01/11/13 11:00am

GDoN Revisited by Hipchickindc – 1623 Taylor Street, NW

by
Real Estate
13 Comments

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 popville.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: 1623 Taylor St NW
Legal Subdivision: Crestwood
Advertised Subdivision per Listing: Crestwood
Original List Price: $972,900
List Price at Contract: $972,900.
List Date: 11/19/2012
Days on Market: 11
Settled Sales Price: $1,062,000.
Seller Subsidy: $0
List to Net Sales Price Ratio:109.16%
Settlement Date: 1/9/2013
Bank Owned?: No Short Sale? No
Original GDoN post is: here.
The listing can be seen: here. To see pics, click on the camera icon after opening the link.

From the first comment to the original Good Deal or Not (GDoN) post: “The house looks like it was either built or the style screams 70′s to me and that is hardly scream from your rooftop glorious nor is it vintage.” To which another commenter responded: “If the style screams the 70s you obviously weren’t alive in the 70s.” Although the house history folks like to remind me that DC public record dates for construction are not always accurate, I’d say that the 1951 date noted is well within reason.

Continues after the jump. (more…)

GDoN revisited
Bloomingdale
01/04/13 11:00am

GDoN Revisited by Hipchickindc – 123 T Street, NW

by
Real Estate
96 Comments

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 popville.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: 123 T St NW
Legal Subdivision: LeDroit Park
Advertised Subdivision per Listing: Bloomingdale
Original List Price: $924,900.
List Price at Contract: $899,900.
List Date: 10/05/2012
Days on Market: 46
Settled Sales Price: $864,300.
Seller Subsidy: $15,000.
Original List to Net Sales Price Ratio: 91.83%
Final List to Net Sales Price Ratio: 94.38%
Settlement Date: 12/28/2012
Bank Owned?: No Short Sale? No
Original GDoN post is: here.
The listing can be seen: here. To see pics, click on the camera icon after opening the link.

Whenever a Good Deal or Not (GDoN) post garners seventy seven comments, it’s definitely worth a re-visit. Like it or not, the Bloomingdale and LeDroit Park neighborhoods have definitely experienced a price spike within the past year. Although this property settled at a net price a fair amount below the original list, it remained within 10%. For so many of you who were incredulous at this listing, I hate to say it, but with such continued low inventory and high demand, I expect the 2013 Spring market to bring another wave of price bumps.

Here are some other recent sales of gut renovated homes in the neighborhood of similar size (two levels with an inlaw suite or separate English Basement apartment):

1934 2nd St NW settled November 2012 for $800,000.
2010 1st St NW settled May 2012 for Net $798,500. (This was my listing)
113 R St NW settled November 2012 for Net $770,000. (I represented the buyer)
78 S St NW settled in June 2012 for $780,000.

24 R St NW is currently pending with a list price of $809,000.

The listing agent for 123 T St NW was Paula Nesbitt with The Banner Team of Long and Foster Real Estate, Inc. Seth Turner, who represented the buyer, is my colleague at Keller Williams Capital Properties.

GDoN revisited
Cleveland Park
12/28/12 11:30am

GDoN Revisited by Hipchickindc – 3038 Macomb Street, NW

by
Real Estate
No Comments

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 popville.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: 3038 Macomb St NW
Legal Subdivision: None noted (new construction so tax record not up yet)
Advertised Subdivision per Listing: Cleveland Park
Original List Price: $3,395,000.
List Price at Contract: $3,395,000.
List Date: 11/15/2012
Days on Market: 19
Settled Sales Price: $3,275,000.
Seller Subsidy: $0.
List to Net Sales Price Ratio: 96.47%
Settlement Date: 12/14/2012
Bank Owned?: No Short Sale? No
Original GDoN post is: here.
The listing can be seen: here. To see pics, click on the camera icon after opening the link. The best way to see this house, though, is via the virtual tour.

Somebody got a very nice holiday present this year. Designed to fit seamlessly into the existing neighborhood, this newly built home features a “full service elevator”. Perhaps more importantly, the master bedroom boasts “his and hers baths”. (Anecdotally, I swear that the most common objection I heard from buyer agents regarding house listings in 2012 was that everybody (no, really, Everybody) needed two bathrooms upstairs.)

Whereas in most of the neighborhoods featured on PoPville we look at the neighborhood as having transitioned from “up and coming” to “pretty much there” once the sales start consistently hitting the $600k mark, we’re in a bit of a different ballpark here. The subject property is the highest recent sale within a third of a mile since June, however, there was another $3,000,000.+ sale that also occurred in December at 3210 Newark St NW. Of the thirteen settled fee simple sales in this immediate area since June, eleven of them were seven figure transactions. The lowest sale prices were at $755,100. and $890,000.

The listing agent for 3038 Macomb St NW was Marc Fleisher with Long and Foster Real Estate, Inc. Mark McFadden with Washington Fine Properties LLC, represented the buyer.

GDoN revisited
Capitol Hill
12/21/12 11:00am

GDoN Revisited by Hipchickindc – 260 Warren Street, NE

by
Real Estate
4 Comments

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 popville.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: 260 Warren St NE
Legal Subdivision: Old City #1
Advertised Subdivision per Listing: Capitol Hill
Original List Price: $485,000.
List Price at Contract: $485,000.
List Date: 11/17/2012
Days on Market: 3
Settled Sales Price: $485,000.
Seller Subsidy: $1875.
List to Net Sales Price Ratio: 99.61%
Settlement Date: 12/06/2012
Bank Owned?: No Short Sale? No
Type Of Financing: FHA
Original GDoN post is: here.
The listing can be seen: here. To see pics, click on the camera icon after opening the link.

The current sale is the fifth transfer of this property since the turn of the Millennium. What is interesting to me is that with that many transfers, it does not appear at any point to have bought, redone by a developer, and then sold again. Apparently, throughout this decade plus, it has just always been 768 square feet of cute. Here is the story of the house, listing by listing:

June 2000
List price: $149,000.
Net sold price: $139,874.
Days on market: 9
Comments: “The ultimate condo replacement”

July 2004
List price: $319,000.
Net sold price: $314,000.
Days on market: 6
Comments: “SPLENDID CONDO ALTERNATIVE” (All caps are a direct quote)

March 2007
List price: $399,900.
Net sold price: $385,000.
Days on market: 104
Comments: “Fabulous alternative to a condo”

April 2009
List price: $449,000.
Net sold price: $432,500.
Days on market: 33
Comments: umm, no mention of condo…”Completely renovated home on one of Capitol Hill’s secret side streets”

The listing agent for 260 Warren St NE was Valerie Blake with Prudential PenFed Realty. James Dean, also with Prudential PenFed Realty, represented the buyer.

GDoN revisited
Brookland
12/14/12 11:00am

GDoN Revisited by Hipchickindc – 1300 Taylor Street, NE

by
Real Estate
4 Comments

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 popville.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 Taylor St NE
Legal Subdivision: Brookland
Advertised Subdivision per Listing: Brookland
Original List Price: $639,000.
List Price at Contract: $539,000.
List Date: 8/8/2012
Days on Market: 77
Settled Sales Price: $553,000.
Seller Subsidy: $0.
Final List to Net Sales Price Ratio: 102.60%
Settlement Date: 12/06/2012
Bank Owned?: No Short Sale? No
Type Of Financing: Conventional
Original GDoN post is: here.
The listing can be seen: here. To see pics, click on the camera icon after opening the link.

Commenters to the original Good Deal or Not (GDoN) post were dubious of the original list price for this house, and the market proved them correct. Although the subject property did not garner the hoped for $600,000.+ price point, since June 1st, 2012, there have been five detached single family homes in the neighborhood that sold over $600,000.

Continues after the jump. (more…)

GDoN revisited
Truxton Circle
12/07/12 11:00am

GDoN Revisited by Hipchickindc – 113 P Street, NW

by
Real Estate
9 Comments

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 popville.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: 113 P St NW
Legal Subdivision: Old City #2
Advertised Subdivision per Listing: Shaw-Truxton Circle
Original List Price: $449,900.
List Price at Contract: $449,900.
List Date: 09/26/2012
Days on Market: 28
Settled Sales Price: $440,000.
Seller Subsidy: $13,000.
List to Net Sales Price Ratio: 94.91%
Settlement Date: 11/28/2012
Bank Owned?: No Short Sale? No
Type Of Financing: Conventional
Original GDoN post is: here.
The listing can be seen: here. To see pics, click on the camera icon after opening the link.

At present, the Truxton Circle neighborhood (named after the long gone circle) remains one of the few locations downtown (the subject property is a tad over two miles to the White House) where one can own a whole house for under $600,000. Since June of 2012, there were twenty two settled sales of fee simple houses priced from $278,000. to $585,000. This is in significant contrast to Bloomingdale, at the northern edge of the Truxton neighborhood, which is seeing prices into the $800,000’s.

Homes in Truxton Circle tend to be smaller than the similarly styled Victorians in Bloomingdale, yet are within a few short blocks of the row of emerging restaurants that currently includes Big Bear Café (I highly recommend dinner there if you haven’t been yet), Aroi Thai, Rustik, Boundary Stone, and Bacio Pizzeria. Parts of the neighborhood may be a bit of a hike to Metro, however, the National Mall, downtown business district, and Capitol Hill are all within biking distance. Several bus lines are convenient to the area.

The listing agent for 113 P St NW was H. Zaza Pasori with Realty Resource. Jennifer Myers with Dwell Residential Brokerage represented the buyer.

GDoN revisited
Brookland
11/30/12 11:00am

GDoN Revisited by Hipchickindc – 2812 26th St, NE

by
Real Estate, Woodridge
14 Comments

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: 2812 26th St NE
Legal Subdivision: Woodridge
Advertised Subdivision per Listing: Woodridge
Original List Price: $319,900.
List Price at Contract: $319,900.
List Date: 09/27/2012
Days on Market: 9
Settled Sales Price: $329,900.
Seller Subsidy: $11,000.
List to Net Sales Price Ratio: 99.69%
Settlement Date: 11/21/2012
Bank Owned?: YES Short Sale? No
Type Of Financing: FHA
Original GDoN post is: here.
The listing can be seen: here. To see pics, click on the camera icon after opening the link.

This is the first foreclosure property that has been featured on Good Deal or Not Revisited (GDoN-R) for some time. There are certainly fewer foreclosures available because when the prices and market activity picked up, it became possible for some sellers to sell properties before they became a financial burden. The other reason we have not seen many foreclosure sales is because of a city ordinance that passed in November 2010 that quite effectively brought foreclosures to a halt in DC.

In prior GDoN-R posts, commenters have noted that it has become a challenge to even buy properties in affordable price ranges (and, yes, sorry, but in DC, this is considered an “affordable” price range) because they are competing with cash investors. This property was owned by Fannie Mae, which has a policy of considering offers only from owner occupants within an initial offering period. We know that that the financing used by the buyer is FHA, so this property did go to an owner occupant.

Every once in a while I have clients who really prefer to purchase a detached single family house in a city largely populated with rowhomes. There actually are several neighborhoods where you can still buy a detached house in the District of Columbia for under $350,000. Here’s a list of the detached houses that are currently active and priced under $350,000 I’ve ordered them in reverse alphabetically, so Woodridge (the neighborhood of the subject property) appears up at the top.

The listing agent for 2812 26th St NE was Sonya Abney with Cosmopolitan Properties Real Estate Brokerage. Noel Sesay with W.C. & A.N. Miller, Realtors, A Long and Foster Company, represented the buyer.

GDoN revisited
Columbia Heights
11/16/12 11:00am

GDoN Revisited by Hipchickindc – 1114 Lamont Street, NW

by
Real Estate
1 Comment

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: 1114 Lamont St NW
Legal Subdivision: Columbia Heights
Advertised Subdivision per Listing: Columbia Heights
Original List Price: $1,250,000.
List Price at Contract: $1,250,000.
List Date: 08/02/2012
Days on Market: 36
Settled Sales Price: $1,150,000.
Seller Subsidy: $1000.
List to Net Sales Price Ratio: 91.92%
Settlement Date: 10/11/2012
Bank Owned?: No Short Sale? No
Type Of Financing: Conventional
Original GDoN post is: here.
The listing can be seen: here. To see pics, click on the camera icon after opening the link.

This one is actually a double Good Deal or Not (GDoN). In addition to the recent GDoN post above, the Popville squad of GDoN commenters had a go back in 2008. In 2008, newly renovated, this property started on the market at $1,100,000., and stayed on the market for 89 days, with a final (2008) net sale price of $915,000. Interest rates at the time were 6.85% for a thirty year fixed mortgage product.

Fast forward to a very different real estate world where interest rates continuously hit deeper historic lows (and are currently greater than 50% lower than the prevailing mortgage interest rates of 2008). This is the first seven figure sale of a residential property (that was not more than two units) for Columbia Heights east of 13th Street. Check out this map of residential properties that have ever sold over a million dollars in Columbia Heights.

Prior to the 2008 sale, the property sold, unrenovated, in 2007 for $575,000.

The listing agent for 1114 Lamont St NW was Jeremias Alvarez with Coldwell Banker Residential Brokerage. The same agent represented the buyer as a Disclosed Dual Agent.

GDoN revisited
Capitol Hill
11/09/12 11:00am

GDoN Revisited by Hipchickindc – 22 16th Street, SE

by
Hill East, Real Estate
8 Comments

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: 22 16th St SE
Legal Subdivision: Old City #1
Advertised Subdivision per Listing: Capitol Hill
Original List Price: $589,900.
List Price at Contract: $589,900.
List Date: 09/19/2012
Days on Market: 11
Settled Sales Price: $589,900.
Seller Subsidy: $4,477.
List to Net Sales Price Ratio: 99.24%
Settlement Date: 11/02/2012
Bank Owned?: No Short Sale? No
Type Of Financing: “Unknown”
Original GDoN post is: here.
The listing can be seen: here. To see pics, click on the camera icon after opening the link.

A few weeks ago Good Deal or not Revisted (GDoN-R) focused on a property nearby, a tad further north of Lincoln Park. Although both areas are generally referred to as “Capitol Hill” or “East Capitol Hill”, as it were, this property is closer to the Stadium Armory Metro and is located in the southeast quadrant.

This property is somewhat intriguing because of the mention of “a $28k solar panel system which saves $100 per month in electric”. This particularly interests me as I’ve recently been involved in some discussions with real estate professionals regarding how green features contribute to overall property value. It’s a conversation happening within the professional associations of appraisers, real estate agents, multiple listing system designers, lenders, home inspectors and energy auditors, as well as being an area of interest for many buyers.

The challenge at present is for the various entities to come up with a shared system of quantifying the features and the value that is added. So far, the most practical system that I am aware of is that used by energy auditors in the process of evaluating improvements to be financed by an FHA Energy Efficient Mortgage or EEM. In that case, the auditor rates the property based upon the cost savings per month over time (as mentioned in the listing for our subject property, for instance). I’m sure we’ll continue to hear more about the impact of energy efficient improvements upon the value of properties as the systems for evaluating them become more consistent.

The listing agent for 22 16th St SE was Rod Rochowiak with Stages Premier. Robert Crawford with Coldwell Banker Residential Brokerage represented the buyer.

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