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GDoN Revisited by Hipchickindc – 4606 4th Street, NW

by Prince Of Petworth September 21, 2012 at 11:00 am 18 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: 4606 4th St NW
Legal Subdivision: Petworth
Advertised Subdivision per Listing: Petworth
Original List Price: $445,000.
List Price at Contract: $445,000.
List Date: 07/23/2012
Days on Market: 6
Settled Sales Price: $455,000.
Seller Subsidy: $0.
List to Net Sales Price Ratio: 102.25%
Settlement Date: 08/27/2012
Bank Owned?: No Short Sale? No
Type Of Financing: FHA
Original GDoN post is: here.
The listing can be seen: here . The pics can be seen by clicking on the camera icon after opening the link .

The recent sales history of this property gives a sense of the fluctuations in the Petworth market in the recent past. In 2005, the tax records show a transfer of the property at $325,000., followed by a transfer in 2006 for $470,000. Work was apparently started but not finished, and the property was sold by the bank in 2008 for $220,000.

I was surprised to see that since the beginning of 2012, there were 23 sales of houses in Petworth that settled under $250,000. Apparently, there are still deals out there, although it’s worth noting that most, if not all, were cash sales. (In fact, the lowest Petworth house sale so far this year was for $142,500., for a property that looks like it conveyed with tenants).

Although Petworth is a relatively defined neighborhood, pricing is still very much block-to-block, and largely affected by proximity to Metro. The highest net sale of a house in Petworth so far this year was at $647,500. Median price for the neighborhood for so far this year is $350,000., with a median number of days on market at less than three weeks.

There are currently forty houses actively listed for sale in Petworth, ranging in price from $255,000. to $965,000.

The listing agent for 4606 4th St NW was Maria Lopes with Long and Foster Real Estate, Inc. The buyer was represented by Ed Carp of Continental Properties, Ltd.

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