GDoN Revisited by Hipchickindc – 2010 1st Street, NW

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: 2010 1st St NW
Legal Subdivision: LeDroit Park
Advertised Subdivision per Listing: Bloomingdale
Original List Price: $759,900.
List Price at Contract: $759,900.
List Date: 04/12/2012
Days on Market: 5
Settled Sales Price: $800,000.
Settlement Date: 05/30/2012
Seller Subsidy: $1,500.
Bank Owned?: No Short Sale? No
Type Of Financing: Conventional
Original GDoN post is: here.
The listing can be seen: here. The virtual tour is here.

In full disclosure, this was my listing and it happens to be on the same street just a few blocks south of the other listing that I represented and profiled back in late December 2011.

I had sold this property to the recent sellers back when there actually were foreclosures to sell in DC in 2009. At that time they lived across the country but had come to DC several times for intensive house hunting trips. They had a very specific type of home that they were searching for (ideally Victorian style, with some historic details remaining, and in need of restoration/renovation).

They were on the west coast when this home came on the market in 2009, so I took lots of photos and they ended up making an offer without actually getting into the house. Given that it was a foreclosure, there were several other offers in and there were a bunch of hoops to be jumped through. I recall driving out to Sandy Spring, Maryland to the listing agent’s office to hand deliver the contract. Then we waited. From listing to acceptance of the contract took several weeks, which allowed the then-buyers plenty of time to fly in and check out the house in person. Here’s the listing link to the “Before” picture.

What I love about this listing is that it was restored and renovated by owner occupants rather than investors. They addressed details that are often obliterated by developers due to cost. For example, they had the historic tiles in the fireplace mantels and the vestibule custom matched by an artisan. The skylight was restored as they are rarely seen anymore, with colored glass bordering the clear central piece. Anybody with a turning staircase will appreciate this one…the interior stair railing to the second floor was designed to be simply dismantled to make it much easier to move furniture upstairs. Other unusual details not likely seen in an investor renovation include the European stove, attic storage, tankless hot water heater, the elevated deck with parking for two cars underneath, and (one of my favorite things about this house) extensively restored heart of pine floors throughout both the main and the second floor.

We ended up with two contracts in hand by midnight of the Thursday the property was listed. Per the owners’ request, there was no open house. By the time we reviewed contracts on Monday, there were four offers, hence the strong escalation above the listed price.