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GDoN Revisited by Hipchickindc

by Prince Of Petworth September 24, 2009 at 10:48 pm 7 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.  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: 651 8th St NE

Original List Price: $599,000.

List Price at Contract: $575,000.

List Date: 06/24/2009

Days on Market: 59 days

Settled Sales Price: $565,000.

Settlement Date:  09/24/2009

Seller Subsidy:  $16,950.

Bank Owned?: No

Type Of Financing: Conventional with $113,000. (20%) down payment.  There also appears to be a 10% second trust, which is very unusual in this day and age.

Original GDoN Post is:  Here.

The recent listing is:  Here.

Now that the Prince of Petworth is a full-time blogger, I am looking forward to his continued ventures into the other neighborhoods of Washington, DC (aka The Hill).  There’s something about that significant increase in price per square foot that makes for a heated Good Deal or Not (GDoN) smackdown between the NWers and Hill/H Street dwellers.  According to the GDoN comments, I expect more than a few readers will be surprised at the current sales price of this two bedroom, two and a half bath home.  For NWers who haven’t been paying much attention to the subject neighborhood, it’s worth a glance at the H Street Main Street web site. 

The sales history over the past ten years speaks to the extensive changes both the overall DC real estate market and this neighborhood have experienced.

1999: Listed for $169,900.  Sold for $169,900. less $3350. subsidy.  98 Days on Market.

2001: Listed for $299,000.  Sold for $312,000. less $6240. subsidy.  5 Days on Market.

2005: Listed for $529,500.  Sold for $529,500. less $500. Subsidy (usually a subsidy this small indicates a repair credit).  14 Days on Market.
2009: See above for details.

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