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Sold After 121 Days in Bloomingdale

by Prince Of Petworth March 11, 2016 at 11:00 am 10 Comments


Hipchickindc (aka Suzanne Des Marais) is a licensed real estate broker. She is an associate broker with Bediz Group, LLC at Keller Williams Capital Properties . 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 and/or Real Estate Business Intelligence (RBI). Information is deemed reliable but not guaranteed.

Featured Property: 72 V St NW
Legal Subdivision: LeDroit Park
Advertised Subdivision per Listing: Bloomingdale
Bedrooms: 5 Baths: 4.5 Parking: Driveway/Off Street Basement: Fully Finished
Ownership: Fee simple Lot Square Footage: 1667
Original List Price: $999,950.
List Price at Contract: $975,000.
List Date: 11/10/2015
Days on Market: 121 (includes current and earlier version of listing)
Settled Sales Price: $925,000.
Seller Subsidy: $4,000.
Settlement Date: 03/04/2016
Transaction type: Standard

Original GDoN post is: here.

The original and most recent version of the listing can be seen here: here.

This house in Bloomingdale is notable for backing to over an acre of community green space known as Crispus Attucks Park. Until the mid 2000s, Crispus Attucks Park was a field enclosed by chain link fencing. Neighbors were instrumental in creating the vibrant landscaped space that exists today. You can see learn more about the interesting history of the park here.

There were some comments on the original GDoN post suggesting that this is a small house. With three levels above grade, plus a full basement, it’s a good sized rowhome. It looks like this one kept the original configuration of a front parlor with an entry hall, which makes the living room seem tight.

Someone commented that “$975k might well be market rate for that neighborhood, but unless that park contains some sort of special magical powers, I think it’s a completely insane price to pay for a house at that location.” There has actually been quite a bit of activity at that location recently over a million dollars, including one across the street that recently escalated almost $200,000. above the list price.

The listing agents for this sale were Kymber Menkiti and Tianni Craig with MG Residential affiliated with Keller Williams Capital Properties. Ty Voyles of Fulcrum Properties Group, also with Keller Williams Capital Properties represented the buyer in this transaction. (Per disclosure above, the writer is also affiliated with Keller Williams Capital Properties).

  • petworther

    The real problem with this house has always been the mismatch between the finishes and the price. You have some choice in DC at 975k. This is a cool house in a nice location, but those finishes are more appropriate for a 300k house. Cheap cupboards and ugly kitchen tile. Home Depot bathroom fixtures. Tacky mirror closet doors in the master bedroom.
    If someone is spending 975 on this the probably plan to replace all that. But then why buy a flipped house when you have to replace all the finishes anyways?
    That said, I’d love to back up to that park.

  • stacksp

    Someone was smiling ear to ear at the closing table if they even bothered to show..

  • ExWalbridgeGuy

    Someone *correctly* said that the price was too high for this. After four full months on the market it sold for $75k under the original list with a seller subsidy too!

    • Anon

      The poster is a realtor who lives in the neighborhood, so there’s direct incentive to characterize this sale in a certain manner…

      • Yes, absolutely. I have been selling consistently in this neighborhood since 2001. I think being on the Park is a huge value add. Fixtures can always be updated.

        • petworther

          “Fixtures can always be updated.”
          They can, although how annoying to buy a house that has just been flipped, only to have to replace all the finishes. I think most people buying a move in ready house are paying extra so that it’s move in ready.
          When you buy a flip you’re also counting on a lot of the behind the scenes work the developer did to be quality work that the inspector can’t see. These finishes show extremely poor judgement to me. Why use bargain basement finishes when something slightly more expensive will get you a much higher sale price? It does not give me a lot of confidence in the developer’s judgement.
          This reminds me of the GDoN from that poor couple who got profiled by the City Paper because their developer opened up the floor plan without installing a proper beam. That one got a lot of positive comments from realtors too.

          • Nathan

            I thought, from the GDON comments, this wasn’t a developer flip but the work done by long-time owners.

          • neighbor

            this house wasn’t flipped. the previous owners lived there for about 10 years

          • petworther

            Interesting. Same logic applies though I guess. Everyone complains about developer renovations, but I’m not sure that empirically home owners who renovate are any less likely to violate building code than developers

  • Joey

    I live in Bloomingdale, and I’m surprised this place sold for so little in relation to the other recent sales. From what I can tell from the pictures, the renovation is pretty standard, looking like every other renovation. This house is large, and being on the park is a big deal, because you get a beautiful community park behind you rather than another town home. Also, these houses have exceptionally large backyards, a rarity for Bdale.

    So why did this go for so much less than the recent sales of homes (some without even parking spaces) that have sold for well over a million in Bloomingdale. Given it’s size, rental unit and place on the park, I would’ve guessed at least 1.2 million.


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