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GDoN Revisited by Hipchickindc – 22 16th Street, SE

by Prince Of Petworth November 9, 2012 at 11:00 am 8 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: 22 16th St SE
Legal Subdivision: Old City #1
Advertised Subdivision per Listing: Capitol Hill
Original List Price: $589,900.
List Price at Contract: $589,900.
List Date: 09/19/2012
Days on Market: 11
Settled Sales Price: $589,900.
Seller Subsidy: $4,477.
List to Net Sales Price Ratio: 99.24%
Settlement Date: 11/02/2012
Bank Owned?: No Short Sale? No
Type Of Financing: “Unknown”
Original GDoN post is: here.
The listing can be seen: here. To see pics, click on the camera icon after opening the link.

A few weeks ago Good Deal or not Revisted (GDoN-R) focused on a property nearby, a tad further north of Lincoln Park. Although both areas are generally referred to as “Capitol Hill” or “East Capitol Hill”, as it were, this property is closer to the Stadium Armory Metro and is located in the southeast quadrant.

This property is somewhat intriguing because of the mention of “a $28k solar panel system which saves $100 per month in electric”. This particularly interests me as I’ve recently been involved in some discussions with real estate professionals regarding how green features contribute to overall property value. It’s a conversation happening within the professional associations of appraisers, real estate agents, multiple listing system designers, lenders, home inspectors and energy auditors, as well as being an area of interest for many buyers.

The challenge at present is for the various entities to come up with a shared system of quantifying the features and the value that is added. So far, the most practical system that I am aware of is that used by energy auditors in the process of evaluating improvements to be financed by an FHA Energy Efficient Mortgage or EEM. In that case, the auditor rates the property based upon the cost savings per month over time (as mentioned in the listing for our subject property, for instance). I’m sure we’ll continue to hear more about the impact of energy efficient improvements upon the value of properties as the systems for evaluating them become more consistent.

The listing agent for 22 16th St SE was Rod Rochowiak with Stages Premier. Robert Crawford with Coldwell Banker Residential Brokerage represented the buyer.

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