Real Estate

Good Deal or Not? “Gracious entry” Edition

By Prince Of Petworth

This home is located at 2803 11th Street, NW:


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The flier says:

“Totally charming bayfront Victorian in Columbia Heights. 3 BR’s and 2 FB’s. Gracious entry and grand staircase. Generous room sizes. Separate dining room. Updated table space kitchen. Excellent condition with great character and lots of period details. Beautiful hardwood floors and high ceilings. Fenced rear patio. Walk to Columbia Heights Metro and Target.”

You can find more info here and a virtual tour here.

Well 11th and 13th Streets, NW are some of my favorites streets so I was really looking forward to take a peek inside this one. It’s got some great bones though I was sad to see the fireplaces closes up. What do you think of the house itself? Does $629,000 sound reasonable for this 3 bed/2bath?

Good Deal or Not? Weekly Wed. House Porn Edition

By Prince Of Petworth

This row house is located at 1644 Irving Street, NW:


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The flier says:

“2 Unit, Stunning Renovations. 2 Level 3BR, 3.5BA Penthouse. Master w/ SPA bath. Abundant outdoor space – potential roof deck. Amazing Kitchen (Subzero, Thermador, Bosch) & Baths (Sonia, Duravit, Hansgrohe) Main level Flat w/ 2BR, 2BA. Renovated to Studs in 2009. Gorgeous Kitchen, deck. Landscaped Yard, 2 car parking. Unfin basement w/ roughed in Plumb. Rear/Front Access.”

You can find more info here and a virtual tour here.

I actually went inside this house and was pretty blown away. It is set up that you can rent out the first floor which is pretty sweet in its own right. Personally I think it is essential that a roof deck be added. But all in all I was pretty impressed. What do you guys think of the house itself? It’s yours for $1,350,555.

Good Deal or Not? “Gorgeous Top to Bottom Renovation” Edition (Reader Request)

By Prince Of Petworth

This house is located at 630 15th Street, NE:


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The flier says:

“Gorgeous Top to Bottom Renovation of Capitol Hill Classic. Ten foot ceilings, gleaming new hardwoods, new kitchen with granite and stainless, new bathrooms, new roof and HVAC. Fresh landscaping and new rear deck. One block from H St. revitalization. This property will not last long.”

You can find more info and photos here.

As always, what do you think of the renovation itself? Does $449,900 sound reasonable for this 3 bed/2.5 bath?

GDoN? Mt. Pleasant Mansion for Sale

By Prince Of Petworth

This old mansion is located at 3324 18th Street, NW:


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The flier says:

“Amazing Opportunity! Quite Possibly the largest home in all of Mount Pleasant with an extensive amount of historic Wardman style features that rarely exists in Washington homes these days. With an exceptional amount of sq’ from the outside to the inside you are sure to find elements of Washington from a century ago.”

You can find more info and see a few inside photos here.

I know this isn’t a traditional Monday Good Deal or Not? Post but I couldn’t wait to share this one. I’ve been admiring this home for years. We’ve definitely judged it before but this is the first time I’ve seen a few photos of the interior. Fixed up this could be one of the coolest houses in Mt. Pleasant (though stay tuned for tomorrow’s house of the day). For those who’ve got deep pockets – it’s yours for $1,750,000.

Good Deal or Not? We’ve Been Watching This Building Edition

By Prince Of Petworth

This building is located at 2719 13th Street, NW:


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The flier says:

“Living up to its reputation for unparalleled custom detailing, Brook Rose Development unveils a 2-year Columbia Heights restoration filled with intricate carpentry & finishes normally reserved for multi-million-dollar homes. One of only 2 units, this huge 2300 sqft 3BR 3BA + den duplex “lives” like a timeless, elegant residence with private entrance & parking – a “must-see”

You can find more info and here.

Wow, I’m really digging the photos. What do you guys think of the renovations? This house was split into two units. Unit #2 has already gone under contract for $899,000. Does $799,000 sound reasonable for this 3 bed/3bath?

GDoN Revisited by Hipchickindc

By Prince Of Petworth

In real life, hipchickindc is licensed as a real estate broker in the District of Columbia, and as a real estate salesperson in Maryland. 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 Properties: 1113 Lamont St NW

Original List Price: $985,000.

List Price at Contract: $985,000.

List Date: 11/16/2009

Days on Market: 60

Settled Sales Price: $940,000.

Settlement Date: 03/10/2010

Seller Subsidy: $0.

Bank Owned?: No

Type Of Financing: Conventional

Original GDoN Post is: here.

Recent Listing is: here. I’ve also included the 2001 listing.

Having focused the past three Good Deal or Not Revisted (GDoN-R) posts on cash deals and flips, I was happy to come across this owner-occupied, non-foreclosure, straight forward conventionally financed deal. Good Deal or Not (GDoN) commenters were skeptical of the $900k+ price tag in Columbia Heights, but it ultimately sold within less than a 5% differential from the original list price. Continues after the jump. (more…)

Good Deal or Not? “Wide open spaces!” Edition (Reader Request)

By Prince Of Petworth

This home is located at 516 Buchanan Street, NW:


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The flier says:

“Completely renovated! Wide open spaces! HWFs, granite & stainless kitchen, custom finishes. Deck off the family room overlooks a landscaped lawn with flowering trees and convenient off-street parking for 2. Light pours through 3 skylights and transom windows throughout the upper level. Finished LL w/ enormous 4th BR, den, full bath & extra storage.”

You can find more info here and a virtual tour here.

The reader writes:

“516 Buchanan St NW just went on the market after month-long rehab, and I must say that the results really impressed me. I live a few doors down, and I’ve watched this house for the last couple of years as it went from rental property to vacant to rebirth. Prior to being rehabbed it had been on the market in as-is condition, and on at least one occasion it looked like it was going to sell as such. Eventually it went into foreclosure and was purchased for under $200k. The rear addition is new, and having watched the construction work I can tell you that the developer did much more than a facelift on the interior. I’ve been inside and the place really looks fantastic, and if I didn’t already own my house I would have been hugely tempted to buy the house before it was rehabbed and done the same job myself. I’m wondering what PoPville thinks of the job and whether it’s a good deal.”

What do you guys think – does $525,000 sound reasonable?

Dear PoP – Developers/Flippers are Buying all the Good Homes

By Prince Of Petworth


Photo from PoPville Flickr user awmiller

“Dear PoP,

My fiancée and I have been looking for houses for a year now. Petworth is one of our 1st neighborhood choices as we love the balance between urban convenience and green space/parks (we have been looking at houses below Allison St). However, our search has been very frustrating as we have lost house after house to real estate investor who swoop in and offer all cash (I think we have submit and lost offers on 10+ homes now). We have offered over the listing price multiple times now but cash rules everything around us(?). We have since expanded our search to include other “edge” or developing neighborhoods but it is definitely a city-wide trend. From a neighborhood perspective, I guess it is a good thing (depending who you speak to) because investors will make improvements and then flip the house to others, thus improving the housing stock of a neighborhood and driving up home values but we can’t seem to win even though we have what I think to be an adequate budget (up to $450k) for the area.

I don’t know who these investors are (I have created a mental image of a Porsche convertible driving, latte sipping, sun glass wearing, Louis Vutton bag holding, toy poodle having, trust fund baby to help me cope) but in all reality it has been pretty sobering.

I guess my question is, are there any other aspiring home owners out there feeling the same frustration and does anyone know when a regular Joe with financing and not cash will be able to win?”

I feel like I have heard similar stories in Petworth, Columbia Heights and Bloomingdale. To be honest I’m shocked that you have been unable to close on a property in Petworth for $450k. I hope that if you persevere the right home will come through for you. But for others out there shopping around, have you noticed that developers/flippers are getting all the “good” homes?

Good Deal or Not? Weekly Wed. House Porn Edition

By Prince Of Petworth

This condo is located at 2029 Connecticut Ave, NW:


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The flier says:

“Sophist apt in prestigious bldg w. appx 5400sq ft of recently renovated elegant space. Paneled ent. hall leads to spectacular 43x13ft gallery w. 1/2 columns and classical mdlngs serving to link the grand entertaining spaces –an East facing dbl LR, Salon, DR to seat 20+ with the intimate lvg. quarters-4 well proportioned BRs each w. own lux BA, Den and ’08 mod Kit. Incl 2 resvd pkg and add’l storage.”

You can find more info here and a virtual tour here.

So I’m not exactly sure what a sophist apartment is but this is one of the biggest condos I’ve ever seen. What do you think of the condo itself? It’s yours for $4,150,000.

Good Deal or Not? “New Zen inspired Condos” Edition

By Prince Of Petworth

These condos are located at 2029 13th Street, NW:


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The flier says:

“New Zen inspired Condos in hot U St. location!!!! 1 bed/ 1 bath LARGE patio unit. Features included: high ceilings, hardwood floors, tons of windows, granite counter tops, breakfast bar, SS appliances, modern designed, sound system, walking closets patio. Bonus: parking availabe for sale. One block from Metro, Restaurants and Shops. Yes, FHA Aprroved.”

You can find more info and photos here.

Well the location of these condos are pretty amazing. Though this is the first time I’ve seen a converted rowhouse translate into 1 bedroom condos. Unit #2 is a 1 bed/1.5 bath going for $409,000 (with a $220 condo fee). And Unit #1 is also a 1 bed/1.5 bath going for $439,000 (with a $220 condo fee). What do you think of the units themselves? Either price sound reasonable?

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