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GDoN Revisited by Hipchickindc – 1523 Monroe Street, NW

by Prince Of Petworth October 5, 2012 at 11:00 am 6 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: 1523 Monroe St NW
Legal Subdivision: Columbia Heights
Advertised Subdivision per Listing: Columbia Heights
Original List Price: $690,000.
List Price at Contract: $690,000.
List Date: 05/11/2012
Days on Market: 6
Settled Sales Price: $758,000.
Seller Subsidy: $0.
List to Net Sales Price Ratio: 109.86%
Settlement Date: 09/27/2012
Bank Owned?: No Short Sale? No
Type Of Financing: Conventional
Original GDoN post is: here.
The listing can be seen: here. To see pic, click on the camera icon after opening the link.

Last week’s Good Deal or Not Revisited (GDoN-R) sold at 21.77% above the list price and this week’s escalated nearly 10% over list. Buyers and their agents in many parts of town are certainly feeling the reality of limited inventory and an abundance of other buyers. The low mortgage interest rates making monthly payments so low in relation to sales prices have likely contributed to a larger than typical pool of buyers in higher price ranges.

Consider that the last time this home was on the market in 1999, interest rates were around 6.75% for a 30 year fixed rate mortgage. That is more than double today’s rate of as low as 3.36%. Of course, the net purchase price in 1999 was $152,525.

There have been eleven settled sales of houses within a quarter mile of the subject property since 04/01/2012. The average sold to list price ratio for these homes is 102.15%, which is reflective of multiple offers.

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