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Ever Wonder About these Real Estate Auctions? Check Out Video of one in Ledroit Park

by Prince Of Petworth April 19, 2013 at 12:30 pm 18 Comments

Dear PoPville,

I happened to leave the house yesterday afternoon just as the bidding was about to begin for 1952 2nd Street NW, which is a house in very poor condition on the Ledroit Park side of 2nd St. It ended up selling for $625,000 + 6%, so about $660,000! A real-life example of the economics of the real estate market right now, and why row houses get ‘flipped’ into two units. I guess they will spend $200-300K on renovation, which means they will need to make well over a million selling it.

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