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 popville.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: 1213 West Virginia Ave NE
Legal Subdivision: Trinidad
Advertised Subdivision per Listing: Trinidad
Bedrooms: 6 Baths: 3.5 Parking: Drvwy/Off Street Ownership: Fee Simple
Original List Price: $699,900.
List Price at Contract: $735,000.
List Date: 5/8/2014
Days on Market: 6
Settled Sales Price: $735,000.
Seller Subsidy: $0.
Settlement Date: 6/9/2014
Bank Owned?: No Short Sale? No
Original GDoN post is: here.
The original listing can be seen here: here.
Trinidad. Uh huh. Trinidad over $700,000. We’ve seen it before. A similar home in Trinidad sold for $716,500. this year, but otherwise, the bulk of prices for houses in this neighborhood was in the $300,000’s and $400,000’s.
There were a total of 67 settled house sales in Trinidad since the beginning of the year, which is a pretty good number. In comparison, for the same time period last year, there were a total of 51 house sales in Trinidad.
Investors are pretty much snapping up whatever they can get their hands on over there. Of the 67 recent sales, only 12 were listed on MRIS for less than $300,000. I suspect that many of the investor sales happen pre-market and we are not seeing them on the multiple listing service.
Condo activity in the neighborhood is not quite as brisk as the fee simple sales. However, once investors start catching on to value in an area like this, we are sure to see lots more in the future, especially with the significant stock of small multi unit buildings in the area.
The listing agent was Kymber Lovett-Menkiti of Keller Williams Capital Properties (per above disclosure, the listing agent is affiliated with the same brokerage as the author of this post). The buyer was represented by Erin Stevens of Fairfax Realty, Inc.