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GDoN Revisited by Hipchickindc

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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: 3700 13th St NW

Original List Price: $549,999.

List Price at Contract: $498,999.

List Date: 10/01/2008

Days on Market: 313 (this may be a record for a settled GDoN-R)

Settled Sales Price: $475,000.

Settlement Date: 09/30/2009

Seller Subsidy: $11,000.

Bank Owned?: No

Type Of Financing: Conventional with $95,000. (20%) down payment.

Original GDoN Post is: Here.

Recent Listing is: Here.

Perseverance, a good solid price reduction, and dwindling inventory finally resulted in a settled sale for this upper Columbia Heights property. Located just a tad over half a mile from DC USA (referred to in the listing as “USA Mini Mall”), my buyers in this price range would consider this close in. It looks like the Seller invested in several updates since it was purchased during the pre-Target era back in the 1997 for $139,000. Someone noted in the “Good Deal or Not” (GDoN) comments that being an end unit was not an advantage, but I find that people like the extra windows and not having an immediate neighbor on one side.
The original GDoN post ran last November, shortly after the house was first listed. With the combination of insanely low mortgage interest rates and the looming deadline of the Federal First Time Homebuyers Tax Credit, Fall 2009 is finding us in a very different market than the same timeframe in 2008.

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