GDoN Revisited by Hipchickindc – 2820 34th St NW

Voted one of the best real estate agents in DC by the Washington City Paper Readers’ Choice Poll in 2009, hipchickindc aka the not-so-hip Suzanne Des Marais is the Principal Broker (DC) for Urban Pace, LLC. She lives (and sells a lot of houses) in Bloomingdale, but works all over DC, with everyone from first time buyers to highly regarded developers. 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. Information is deemed reliable but not guaranteed.

Featured Property: 2820 34th St NW
Legal Subdivision: Observatory Circle
Advertised Subdivision per Listing: Observatory Circle

Original List Price: $1,649,000.
List Price at Contract: $1,595,000.
List Date: 12/13/2010
Days on Market: 59
Settled Sales Price: $1,570,000.
Settlement Date: 03/16/2011
Seller Subsidy: $0.
Bank Owned?: No Short Sale? No
Type Of Financing: Conventional

Original Good Deal or Not post is: here

The listing can be seen: here. Virtual tour can be found here.

I hate to tell you this, but if you’re still waiting for real estate prices to hit bottom in DC before you seriously consider buying a place, you kind of missed the boat. The DC real estate market has been getting awesome press lately and as long as Congress doesn’t mess around too much too fast with financing reforms, we’re going to stay solid. Given that interest rates are on the way up, demand is strong, and inventory is tight, I predict that we’ll see a very competitive Spring market for buyers.

It’s been a while since we re-visited any of the Good Deal or Not (GDoN) house porn posts. It should be noted that it is not because they are not selling. The seven figure sales, sometimes referred to as “Upper Bracket”, in DC are doing quite well. In 2009, DC saw 59 condos and 362 fee simple homes sell over $1,000,000. In 2010, those numbers increased to 86 condos and 449 fee simple sales over $1,000,000.

Continues after the jump.

Regarding the GDoN comments on the original post, I have to say that I enjoyed the Ikea vs. Furniture Maven banter. I’m a huge Ikea fan (if you’re doing a basic renovation, I highly recommend Ikea kitchens). In the Upper Bracket GDoN discussion world, however, Ikea comments are generally meant to insult the taste of whomever furnished the home. As the progeny of a Modernist architect, I have irrationally strong attachments to Eames chairs like the one on the second floor of this house. In this case, I think the Furniture Mavens win.