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Good Deal or Not Revisited by Hipchickindc – 2200 1st St, NW

by Prince Of Petworth December 23, 2011 at 11:00 am 17 Comments

Hipchickindc is a licensed real estate broker. Her latest business venture can be seen 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: 2200 1st St NW
Legal Subdivision: LeDroit Park
Advertised Subdivision per 1st Listing: LeDroit Park
Advertised Subdivision per 2nd Listing: Bloomingdale
Original List Price 1st Listing: $975,000.
Original List Price 2nd Listing: $929,900.
List Price at Contract: $929,900.
List Date 1st Listing: 05/13/2011
List Date 2nd Listing: 09/09/2011
Days on Market 1st Listing: 87
Days on Market 2nd Listing: 45
Settled Sales Price: $899,000.
Settlement Date: 12/16/2011
Seller Subsidy: $0.
Bank Owned?: No Short Sale? No
Type Of Financing: Conventional
Original GDoN post is: here.
The listing can be seen: here. The virtual tour for the 2nd listing of the property can be seen here and the pictures used to market the property for the first try can be seen here.

Per the disclaimer at the very top of this post, I am hereby disclosing that I was ultimately the listing agent that sold this property. Prior to my listing, during the time that PoP profiled the home as a Good Deal or Not (GDoN), it was listed by another agent with another company. The property had originally been listed during the Spring market.

Following the previous listing, we took it off the market for about a month to freshen the listing. It came back on in September with a new set of professional photos (see link above) and a lot of enthusiasm. I am especially proud of this listing as it represents the highest sale for a home in Bloomingdale or LeDroit Park since 2007.

Continues after the jump.

Although many people only became aware of Bloomingdale within the past couple of years or so, it’s important to note that the renovation and sales boom had been going on in the neighborhood from the early 2000’s until a price peak in 2006. Prices are just now starting to reach above the point where the price bubble hit. There was some discussion in the comments on the original GDoN post about what it would mean for a listing to sell for over a million dollars in Bloomingdale. There actually has already been a seven figure sale in Bloomingdale, when 2301 1st St NW transferred for $1,050,000. in 2005. Still, I tend to agree with the commenters, that it would suggest a shift in perspective. The Washington Post did a story in 2000 or 2001 when the first house on The Hill sold over a million, which definitely marked a turning point in that neighborhood.

The home was designed by noted DC architect B. Stanley Simmons, and built by Ray Middaugh. You can read more about the early history of the property here, courtesy of PoP reader and local historian, Brian Kraft. Prior to the recent mid-2000’s renovation, 2200 1st Street NW had been known in the neighborhood as Big Blue (you have to click on the listing link after you open the first link to see the pic of Big Blue as she used to look).

In addition to being the listing agent, this property has also been the subject of some of my paintings.

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