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Good Deal or Not Revisited by Hipchickindc

by Prince Of Petworth December 11, 2008 at 9:06 pm 14 Comments

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In real life, hipchickindc is licensed as a real estate broker in the District of Columbia and Virginia, and as a real estate salesperson in Maryland. 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. The source of information is Metropolitan Regional Information Systems (MRIS), which is the local multiple listing system. Information is deemed reliable but not guaranteed.

In a recent edition of Good Deal or Not, there seemed to be some interest in having some follow up as properties sell (or not). I took a moment to go back as far as the beginning of October 2008. From that time to 12/10/08, the Prince has featured an impressive total of fifty eight actual listings and one FSBO (for sale by owner) that was not in the regional multiple listings system.

Out of fifty eight listings, only one has settled (which I’ll provide more info on in a sec). Here’s what happened to the rest so far:

  • 39 remain active
  • 6 are under contract
  • 1 is temporarily off the market
  • 10 are withdrawn
  • 1 is expired

The details can be found <a href =http://matrixreports2.mris.com/MatrixReportServer/CMAOutput/35904/CMA_Summary_Detail2225.PDF> here.
Sooooo, which one sold?

919 Euclid St NW, is a renovated 3 bedroom 2 full bath townhome with covered parking. It was on the market for a grand total of 8 days (very nice). It was listed for $425,000. and settled for the magic number of $417,000. with a subsidy from the Seller in the amount of $11,917. It closed on October 30th, 2008 with FHA financing, which means that an owner occupant purchased it.

$417,000. really is the magic number because it’s the upper limit for conforming loan pricing. Over that amount, one starts to get into the territory called “high conforming”, up to $729,000. Over $729,000., at least until December 31st, 2008, after which it will change to $624,000., one enters the really scary neighborhood of jumbo loan pricing.

I noticed that the property had only recently changed hands prior to this sale. In July, it had been purchased for $226,000.

I’ve included both the recent sale and the July sale listings <a href=http://matrix.mris.com/Matrix/Public/Email.aspx?ID=28123365172> here</a>. To see before and after pics, click the camera icon to the top left of each listing.

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