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GDoN Revisited by Hipchickindc – 3815 New Hamphire Ave, NW

by Prince Of Petworth March 2, 2012 at 11:00 am 21 Comments

Hipchickindc is a licensed real estate broker. She is the founder of 10 Square Team and is affiliated with Keller Williams Capital Properties. 10 Square Team is a princeofpetworth.com advertiser. 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: 3815 New Hamphire Ave NW
Legal Subdivision: Petworth
Advertised Subdivision per Listing: Petworth
Original List Price: $639,500.
List Price at Contract: $639,500.
List Date: 01/06/2012
Days on Market: 5
Settled Sales Price: $629,500.
Settlement Date: 02/28/2012
Seller Subsidy: $0.
Bank Owned?: No Short Sale? No
Type Of Financing: FHA loan
Original GDoN post is: here.
The listing can be seen: here. The virtual tour can be seen here

From the original Good Deal or Not (GDoN) comments: “I hope it goes for asking (as I said, I live near by) but think it will go for below. I imagine upper 500′s, but I’ll treat myself to some bubbly if they get over 600.” Go for it, blazing sun.

This property was renovated by John Formant, real estate broker and experienced developer (of both fee simple homes and entire condo projects). I am a fan of his work, which is a pleasure to show and to sell. He tends to use higher quality materials than some builders who renovate specifically with re-sale in mind, and he thinks carefully through the space.

Continues after the jump.

While there have been several sales over the past year that surpassed $600,000, this was the highest price paid in Petworth since 2007. Location was definitely a factor in the price heading over the $600,000. mark. According to Google maps, the house is located 2/10ths of a mile from Metro or a three minute walk. That’s three minutes plus one Metro stop to Target, IHoP, etc., or a short trek to Meridian Pint or Red Rocks. Plop in the second largest Safeway down the street ( eventually) and you’re golden.

Overall, there were a total of 99 fee simple homes sold in Petworth within the past six months. Including both renovated properties and the many houses that were not in good shape but probably will be renovated, the average price is currently $349,079.

Like the idea of being so close to Metro? There are four houses listed right now that are within a quarter mile of the Petworth Metro.

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