GDoN Revisited by Hipchickindc – 1306 W St NW

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: 1306 W St NW
Original List Price: $729,999
List Price at Contract: $699,000.
List Date: 06/10/2010
Days on Market: 50

Settled Sales Price: $660,000.

Settlement Date: 09/07/2010
Seller Subsidy: $3750.
Bank Owned?: No Short Sale? No
Type Of Financing: Conventional

Original GDoN is: here.

The Listing can be seen: here. To see pics, after opening the listing link, click on the main pic and scroll through.

Whereas the Good Deal or Not (GDoN) commenters on the GDoN-Revisited property featured last week underestimated, this week’s subject property saw quite a bit of exuberance. At $729,999., it was remarked, “It will sell at this price for sure.”

True, it is a three level property in a location close to Metro, an organic market, and U Street. I think the challenge for this property was likely the lot size of less than 1000 square feet, which makes for a rather vertical floor plan. There is also no parking and no basement level.

Since 1999 the house has changed hands a total of four times. Although a relatively short period of time, like so many other properties we’ve looked at here, there’s been significant change to the neighborhood through those years. Back in 1999, pre-Whole Foods, pre-Harrison Square, pre-The Lincoln, and pre-all the other new condos around the corner, this property sold for $213,000. with a $6300. subsidy toward closing costs. Two years later it fetched $385,000. In 2004, it went for $585,000. I can’t actually tell if the bulk of the renovations happened between these two sales, but the exterior did get painted.

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