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Sold in Six Days $60,000+ over Asking in Petworth

by Prince Of Petworth April 7, 2017 at 10:55 am 10 Comments

gdon revisited

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 intended as a case study and 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: 4107 8th St, NW
Legal Subdivision: Petworth
Advertised Subdivision per Listing: Petworth
Bedrooms: 3 Baths: 2 Parking: Driveway/Off Street Ownership: Fee Simple
Original List Price: $649,900. List Price at Contract: $649,900.
List Date: 3/2/2017 Days on Market: 6
Settled Sales Price: $712,000.
Seller Subsidy: $0.
Settlement Date: 3/31/2017
Transaction type: Standard

Original GDoN post can be seen: here.

The original listing can be seen here: here.

gdonrinside

The original Good Deal or Not post regarding this property brought forth some interesting conversation (which you can see here. Several commenters expected the property to sell over $700,000. (which it did), and others appreciated the “character” of the place in contrast to brand new completely renovated houses, which some perceived as more sterile.

Google maps puts this at a six minute walk to Metro and Safeway, which definitely is an add for desirability, and makes a strong case for holding or increasing in value. As of this listing, the subject house has not brand new appliances, a galley kitchen, does not have central air and employs radiator heat (radiator heat is very efficient and home inspectors generally like it).

For perspective, a house that was similar in size and location but not as prepped for listing sold in December for for $551,000.

And a house around the corner on Taylor that appears fully gut renovated with open floor plan sold a few weeks ago for $841,000.

The listing agent for this property was Marshall Carey with Redfin Corp. Loic Pritchett with TTR Sotheby’s International Realty, assisted the Buyer.

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