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GDoN Revisited by hipchickindc

by Prince Of Petworth May 22, 2009 at 12:36 am 3 Comments

DSCN6817, originally uploaded by Prince of Petworth.

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. 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: 3214 19th St NW

Original List Price: $984,500.

List Price at Contract: $984,500.

List Date: 02/20/2009

Days on Market: 8

Settled Sales Price: $961,500.

Settlement Date: 03/30/2009

Seller Subsidy: $0.

Bank Owned?: No.

Type Of Financing: Conventional

Listing History: Check out the “Before Rehab” pics! Open link and click camera icon. This was an estate sale in 2007 when it was a cash purchase for $552,000.

Original GDoN Post is: Here.

Recent Listing is: Check out the recent virtual tour here. (Move cursor around the floor plan to show different views).

For the most part, the Good Deal or Not (GDoN) comments were generally pretty kind. The pink exterior paint color took a hit and a few people seemed to expect something more out of the renovation to be priced this close to a million dollars. Uncharacteristically, nobody cited any crime incidents (yes, I know it’s Mount Pleasant, but I can think of a few).

The listing broker was Matt Spicer of Matthew Spicer Real Estate, and son of DC real estate investor legend, Jack Spicer. Over the past forty or so years, Jack has bought and sold over three thousand houses. Typically the Spicers pay cash, do a complete rehab, and then re-sell the property.

Despite being at this price point, the property attracted a tremendous amount of activity. Matt said that the Open House the first weekend was swamped. Rather than entertain multiple offers, he mentioned that, in this case, he was looking to work with the first good offer that came in. Ratification (full agreement of terms by all parties) happened within a scant eight days of closing and they ended up with several back up offers.

 

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