GDoN Revisited by Hipchickindc – 130 10th Street, SE

by Prince Of Petworth July 25, 2014 at 10:50 am 0


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: 130 10th St SE
Legal Subdivision: Capitol Hill
Advertised Subdivision per Listing: Capitol Hill
Bedrooms: 3 Baths: 2.5 Parking: Street Basement: No Ownership: Fee Simple
Square Footage per tax record: 1872
Original List Price: $869,000.
List Price at Contract: $869,000.
List Date: 5/29/2014
Days on Market: 9
Settled Sales Price: $845,000.
Seller Subsidy: $10,000.
Settlement Date: 7/15/2014
Bank Owned?: No Short Sale? No

Original GDoN post is: here.

The original listing can be seen here: here.

This Capitol Hill rowhome close to Lincoln Park was on the market in February listed at $799,000., only to be removed from the market a week later. I don’t know if it has anything to do with the reason for the short initial listing period, but remember all that snow we had this winter? The home listed again in the Spring, $69,000. higher than previously.

There was some discussion in the comments on the original Good Deal or Not (GDoN) post about the note in the listing that the property is being sold “AS IS”. Although often seen on distressed listings, having a seller explicitly state that they prefer an AS IS sale does not necessarily equate to something being materially wrong with the property. In a market with less than two months supply of active listing inventory (six months is generally considered a balanced market), it is not unusual for sellers to negotiate this term.

An AS IS contract on a property usually allows for a General Inspection Contingency. The General Inspection Contingency differs from the full blown Inspection Contingency in that the purchaser still conducts an inspection and the expectation of further negotiation over items requiring repair is removed. Following inspection, the purchaser either chooses to continue with the contract or walk.

The listing agent was Jenn Smira of Lindsay Reishman Real Estate, Inc. There was no buyer agent information reported for the transaction.


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