Sold For Asking in Eight Days – Quite a Ride Since We Originally Posted back in 2012

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: 1008 Shepherd St, NE
Legal Subdivision: Brookland
Advertised Subdivision per Listing: Brookland
Bedrooms: 4 Baths: 3 Parking: Carport Basement: Yes, Partially finished Ownership: Fee Simple
Original List Price: $819,000. List Price at Contract: $819,000.
List Date: 5/1/2018 Days on Market: 8
Settled Sales Price: $819,000.
Seller Subsidy: $0.
Settlement Date: 6/25/2018
Transaction type: Standard

Original GDoN post can be seen: here.

The original listing can be seen here: here.

I had the opportunity to show this house, located just behind the Turkey Thicket Rec Center and ginormous playground, to buyers in early May when it was on the market. Those buyers ended up buying a house further east, much larger, and less pricey, however, this one was super cute.

Something really important to values and the pace of market activity is how the perception of buyers changes over time based upon comparisons and expectations. Fortunately, the internet offers up a time machine of information to this point.

We have the GDoN comments on this same house back in 2012. (There was no Revisited post done on this house back then.)

Granted, it was a bit of a fixer in 2012, but here’s a highlight: “Actually, for a SFH, I will say 50k overpriced.” (It listed at $349,000. Sold at $344,000. with a $10,320. subsidy.)

Here is the original listing from 2012, with a few pics.

The time machine also informs us how much the job of listing agents has changed in a few short years. Most of us supervise a significant amount of preparation, staging, and professional photos in the current market for what is now considered appropriate presentation in certain price points.

Since we don’t have a crystal ball, it’s hard to say what today’s comments will look like to us in another six years. The only thing certain about the real estate market in DC over the past two decades is that it has consistently been a wild ride.

The listing agents for this transaction were Jake Abbot and Shemaya Klar with Berkshire Hathaway HomeServices PenFed Realty. Arturo Cruz Jr., with Keller Williams Capital Properties, represented the Purchaser.