Sold in Seven Days “We’re crossing state lines with this adorable bungalow”

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 Compass. 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 Bright MLS, which is the local multiple listing system and/or Smartcharts by Showingtime. Information is deemed reliable but not guaranteed.

Featured Property: 10 Hickory Ave
Legal Subdivision: Takoma Park
Advertised Subdivision per Listing: Takoma Park
Bedrooms: 2 Baths: 1 Parking: Street Ownership: Fee Simple
Original List Price: $485,000. List Price at Contract: $485,000.
List Date: 8/22/2018
Days on Market: 7
Settled Sales Price: $504,800.
Seller Subsidy: $0.
Settlement Date: 9/10/2018
Transaction type: Standard

Original GDoN post can be seen: here.

The original listing can be seen here: here.

We’re crossing state lines with this adorable bungalow, since it got a good number of comments on the original GDoN post.

For those unfamiliar with Takoma Park, it is in Maryland across the north border from the NW DC neighborhood of Brightwood and the NE DC neighborhood of Riggs Park. It’s cute, has a little downtown commercial area with a food co-op and several locally owned restaurants and shops, and there’s a Red line Metro station.

As one commenter noted, real estate taxes are pricier in Montgomery County than in DC, and specifically in Takoma Park.

Unlike DC, real estate taxes are calculated for state, county, and local, so the actual rate will vary depending on the jurisdiction in Maryland. You may pay less for the property, however the rate of taxation is higher.

There are currently 26 active fee simple houses for sale ranging from $317,000 for a foreclosure to $1,200,000. for a newly built detached home.

Just like DC, homes are more expensive when they are on the side of town closer to Metro, restaurants, and retail.

The listing agents for this transaction were Daniel Metcalf and Meg Finn with Long and Foster Real Estate, Inc. Marcus Wilson, with Redfin Corp, represented the Purchaser.