Sold in Five Days: The Final Good Deal or Not? Revisited of 2016

Good Deal or Not Revisited (GDoN-R) is a weekly post that reviews the settled sales data of a recent individual real estate transaction in the District of Columbia. Each post is a snapshot of the real estate market at a particular moment in time. GDoN-R generally posts on Friday in the late morning.

GDoN-R has been written exclusively for PoPville since 2009 by Suzanne Des Marais. Suzanne is a practicing Realtor with the 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 Smartcharts by Showingtime). Information is deemed reliable but not guaranteed.

Featured Property: 2415 Newton St NE
Legal Subdivision: Woodridge
Advertised Subdivision per Listing: Woodridge
Bedrooms: 3 Baths: 2 Parking: Street Ownership: Fee Simple
Original List Price: $525,000. List Price at Contract: $525,000.
List Date: 11/10/2016 Days on Market: 5
Settled Sales Price: $535,000.
Seller Subsidy: $0.
Settlement Date: 12/21/2016
Transaction type: Standard

Original GDoN post can be seen: here.

The listing can be seen here: here.

For what it’s worth, this is the first Revisited that we are seeing that was listed following the election results. Real estate agents in DC these past few weeks are having some interesting conversations. It’s has been a while since we watched mortgage interest rates climb for what is now eight or nine straight weeks, to their highest level in two years.

That said, the DC Council, in addition to the Mayor’s previous recent home buyer incentives announcement, is working on some legislation to lower closing costs for first time buyers in DC. There are logistics to be figured out, but there is a big push to continue to get people with moderate income into home ownership.

I predict a really busy Spring Market. Buyers are expected to try to capture the still historically low mortgage rates, and Sellers hope to sell before prices may respond to the higher cost of monthly payments.

The listing agent for this property was Marvin Lovos with Heymann Realty, LLC. Dylan Hanna with Heymann Realty, LLC assisted the Buyer.