Voted one of the best real estate agents in DC by the Washington City Paper Readers’ Choice Poll in 2009, hipchickindc aka the not-so-hip Suzanne Des Marais is an Associate Broker with Urban Pace. She lives (and sells a lot of houses) in Bloomingdale, but works all over DC, with everyone from first time buyers to highly regarded developers. 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: 1644 Irving St NW
Original List Price: $1,350,555.
List Price at Contract: $1,350,555.
List Date: 03/03/2010
Days on Market: 102
Settled Sales Price: $1,225,000.
Settlement Date: 07/29/2010
Seller Subsidy: $0.
Bank Owned?: No
Type Of Financing: FHA
A former tenant of this property made this comment on the original Good Deal or Not (GDoN) post: “I remember the group being asked if anyone was interesting [sic] in buying the [sic] either the unit or the whole property (my recollection of these details is very fuzzy, I may have been on drugs at the time) for something like $250k. My first lesson in DC real estate.”
The property actually did sell for $285,000. less an $8550. seller credit back in 2000. Granted, quite a bit of work has been done to it, but even by DC real estate Boom standards, that’s an insane increase in value over the course of a decade. Perhaps even crazier is that the recent seller paid $1,100,000. in 2007. They had the benefit of living there, and may have made some improvements, then moved on with a profit after three years. That is not an easy feat post-2006.