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GDoN Revisited by Hipchickindc – 1824 North Capitol St NW #2

by Prince Of Petworth July 29, 2011 at 11:00 am 16 Comments

Hipchickindc is a licensed real estate broker and a professional artist. Her official real estate bio is here and her art website is here. 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: 1824 North Capitol St NW #2

Legal Subdivision: Eckington
Advertised Subdivision per Listing: Bloomingdale
Original List Price: $464,900.
List Price at Contract: $449,900.
List Date: 05/20/2011
Days on Market: 40
Settled Sales Price: $435,000.
Settlement Date: 07/28/2011
Seller Subsidy: $0.
Bank Owned?: No Short Sale? No
Type Of Financing: Conventional

Original Good Deal or Not post is: here.

The listing can be seen: here. Pics can be seen by opening the listing link and scrolling through the arrows on the main pic.

Per my disclaimer above, I am telling you now that this was my listing, and thus, I was involved in this sale. Back in May, shortly after it was listed, my very brave sellers sent PoP a reader request for “Good Deal or Not” (GDoN). As is sometimes the case, the comments were, shall we say, less than complimentary. I even tried (perhaps against my better judgment), towards the end of the 80+ comments, to pop in and say something nice about the place, and was subsequently shot down.

Continues after the jump.

In addition to living less than a block from the property, I have a bit of a history with it. Back in 2006, I had it listed for a few months, and when I moved to my current company, one of my associates at that time also listed it for several months. Anybody who was around the real estate business during that era probably recalls most buyers postulating as to when, not if, the market would completely crash and burn.

I won’t deny that having an address on a busy street kept the showing traffic limited. Had this home’s address been Seaton Place, which is the street that the majority of the property faces, I would have expected more agent showings. Open houses, however, were well attended.

Very fortunately for the recent seller and the new buyer, Bloomingdale has begun to hit a great stride. In addition to Big Bear Café and Windows, the presence of Rustik has perked things up. The Bloomingdale Farmers Market is a social hub for neighbors on Sunday. Rumors of new businesses in the works are fodder for hot gossip. The recently renovated Flatiron Condo at 143 Rhode Island Ave NW sold out in less than two weeks (represented by Urban Pace, the company I am affiliated with.) The competition in the neighborhood for homes this size and larger is fierce, and the current buyer of this property saw the benefit, regardless of proximity to North Capitol Street.


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