Real Estate

Good Deal or Not? Across the Street From Free Waffles Edition

By Prince Of Petworth

This condo is located at 3219 11th Street, NW:


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The flier says:

“Stunning Columbia Heights 2 level condo featuring 3 bright bedrooms, 2 full baths, open floor plan, gourmet kitchen with gas cooking, hardwood floors and a roof deck with views. Hot spot with numerous restaurants, coffee shops, retail (Wonderland Ballroom, Red Rock Pizza, Columbia Heights Coffee, Sticky Fingers Bakery, Room 11, Target, Staples, Giant, Tivoli Square and metro. )Dog park steps away.”

More info and photos found here.

What do you think of the renovation? The pictures look pretty sweet. And the proximity to free waffles has to be worth something, yeah? Does $569,000 sound reasonable?

Good Deal or Not? Weekly Wed. House Porn Edition

By Prince Of Petworth

This home is located at 3530 Edmunds Street, NW:


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The flier says:

“Deceptively large and sunny 1923 semi-detached home sited on a deep 7,920 square foot lot. Double-sized living room, sky-lit family room and adjoining study, dining room and eat-in kitchen. Elevated rear deck overlooking large south-facing back yard. Master BR/BA + 2 to 3 additional BR’s and full BA on 2nd level. Finished lower level w/ BR and full BA. Large attic with expansion possibilities.”

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

I think you’ll like the photos from this virtual tour better than some others. What do you think of the house itself? Sweet backyard, yeah? It’s yours for $1,450,000.

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And I thought I’d add another one located really nearby at 2701 36th Street, NW. You can find more info and photos from this sweet house here. It’s yours for $1,995,000. Which house do you like better?

Good Deal or Not? Cooper Circle Edition

By Prince Of Petworth

This home is located at 302 T Street, NW:


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The flier says:

“NW DC, Lovely Cooper Circle home, center of historic Ledroit Park. Two completely renovated, sep metered units w/ all amenities, move-in ready. Sunny 3 BR owner’s unit on flrs 2 & 3, open kit, hardwoods, lots of closets. Spacious 1 BR rental on main level covers almost 1/3 mtg pmnt! Perfect for FHA, 1st-time buyer rebate, NO CONDO FEES. Take G-2 Georgetown bus or Shaw Metro. (easy convert to SFH)”

You can find more info and photos here.

I love Anna J. Cooper Circle. What do you think of the renovation itself? How far a walk do you think it is to the shaw metro? And how much do you think you could charge for the rental unit?

Given the above does $649,900 sound reasonable?

Good Deal or Not? “Hollywood Revival inspired by classic Mediterranean architecture” Edition

By Prince Of Petworth

This home is located at 1908 16th Street, NW:


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The flier says:

“Hollywood Revival inspired by classic Mediterranean architecture. Features new Gourmet’s kitchen with upper end SS appliances, Silestone counters, custom cherry cabinets. Rear deck. Juliet balcony. Jetted tub in newly remodeled bath. Great for entertaining. LL 1 bdr apt w/ C of O. Off st pkg. TV in kitchen and bath convey.”

You can find more info and photos here.

I know this house is under contract but since it’s President’s Day I thought this would be a fun one to look at. Do you notice any elements of Mediterranean architecture? It was on the market for $875,000 – sound reasonable?

Good Deal or Not? Reader Request – Brookland Editions

By Prince Of Petworth


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This home is located at 1815 Jackson Street, NE:


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The flier says:

“Don’t miss this one! Very livable detached farmhouse on wonderful tree-lined block. Property shows well but needs work. Large rooms, beautiful wood floors, decorative fpcl in LR + huge finished attic! Property has CAC but no compressor. Property sold in Strictly “AS IS CONDITION”

You can find more info here and a mouse on house tour here.

A reader is thinking of putting in a bid so do you think $249,000 sounds reasonable?

And for comparison another reader requests 331 Bryant St, NE which is going for $415,000. (You can see a virtual tour here)

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: 1522 Kingman Pl NW

Original List Price: $995,000.

List Price at Contract: $995,000.

List Date: 9/6/2009

Days on Market: 248 (had been listed from Feb-July ’09 with other agent at $975,000.)

Settled Sales Price: $945,000.

Settlement Date: 2/4/2010

Seller Subsidy: $5000.

Bank Owned?: No

Type Of Financing: Conventional with $193,000. down payment

Original GDoN Post is: here.

Recent Listing is: here.

Kingman Place is a lovely one block long street just off of Logan Circle. I might not even be aware of its existence, except that a friend of mine developed a small condo building on that block a few years back. As commenters to the original Good Deal or Not (GDoN) post noted, it is a sweet location, considering that it’s tucked away and quiet, as well as a quick stroll to Whole Foods and other downtown neighborhood amenities.

I believe the current PoP criteria for official house porn designation is a list price over $1,000,000. From a real estate agent’s or lender’s perspective, it’s more accurate to look at luxury levels according to the need for jumbo financing. Typically, loan amounts above $729,000. require a purchaser to put a higher percentage of down payment, to have more cash in reserves, and to pay a slightly higher interest rate. Given that folks looking in this price range are often using cash from the sale of a property they already own and have sold or are selling, as well as investments held in securities, this segment of the market has not been moving quite as rapidly as the first time buyer market over the past year.

We’re still waiting for the final tabulation of specifically DC numbers to be published by Metropolitan Regional Information Systems (MRIS), so I can’t compare overall sales yet, but here’s a general overview of the trend in fee simple (no condos or co-ops) home sales in NW DC over $900,000. From 1999 to 2003, there was a steady increase in the number of sales over $900,000., starting with 103 in all of NW in 1999, and ending with 406 in 2003. All of the years between 2004 and 2007 saw greater than 500 sales over $900,000. in NW DC. In 2008, there were 480 sales over $900,000. in NW, compared to even fewer (439) in 2009.

Good Deal or Not? House Porn Edition

By Prince Of Petworth

This home is located at 1840 15th Street, NW:


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The flier says:

“Spectacular top to bottom renovation of Federal home. Feat. incl an elegant foyer entrance, LR w/ decorative FP/Mantle, a sep. DR, a fab. gourmet KT w/ ss appliances, granite counters & handsome cabinets & a brkfst nook & PR The second level has a MS, MBA and w/ in closet, two extra BRS and hall BA. Finished lower level suite . Priv, bricked yard & 2/Pk spaces. New systems, wood flrs, high ceilings.”

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

I was curious about this house because we looked at it as a GDoN Back in Dec. ’08 before it was renovated. How do you think the renovations came out? I’m digging the kitchen. It’s yours for $1,195,000.

Good Deal or Not? Open House in the Storm Edition

By Prince Of Petworth

This condo is located at 1401 Church Street, NW:


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The flier says:

“Finally a spectacular one bedroom loft at the sought after Loft 14, which features authentic & spacious lofts. This unit includes exposed brick, 11″ concrete ceiling, bamboo flooring, Europen Scavolini cabinets, track lighting, granite counter, upgraded stainless steel appliances & commercial grade windows!Don’t forget, its at Logan Circle!”

You can find more info and photos here.

Since they had an open house right after the snowstorm I thought it appropriate to make them a GDoN?

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Does $499,500 sound reasonable? And does it make sense to have an open house the day after a historic snowstorm…?

Good Deal or Not? Needs a Little Sweat Equity Edition

By Prince Of Petworth

This home is located at 6 Grant Circle, NW:


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The flier says:

“Owner started renovating but lost energy – his loss is your gain. AC installed, kitchen and baths updated, basement studded out for in law suite – Owner has saved the beautiful woodwork that set this home apart. Elegant home on Grant Circle is just a little sweat equity away – All the hard work is done – now just waiting for your touches.”

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

I am a bit biased but I love the location. I would however be a bit daunted at the remaining work that needs to be completed. How much do you think it will cost to finish up all the work? Given that does $369,950 sound reasonable?

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: 1704 U St NW #E

Original List Price: $425,000.

List Price at Contract: $425,000.

List Date: 11/20/2009

Days on Market: 31

Settled Sales Price: $408,000.

Settlement Date: 1/29/2010

Seller Subsidy: $8000.

Bank Owned?: No

Type Of Financing: Conventional with $88,000. down payment

Original GDoN Post is: here.

Recent Listing is: here.

I haven’t profiled a condo in a while, so here’s a look at Victoria Court. This property, which was built in 1981, has a total of 12 units and 6 deeded parking spaces. (Deeded parking spaces are favorable in urban markets, where they can theoretically be sold independent of a residential unit.) Located in the vicinity of Dupont Circle, Adams Morgan, and the U Street Corridor, this two bedroom, duplex unit features an updated kitchen, a fireplace, and both a patio and a balcony. This unit did not include a parking space with the sale.

A sales history for Victoria Court exists in the multiple listing system for sales since 1996. I’ve compiled the sales history ordered from lowest sales price to highest, with date of sale shown at the right side of the report, which can be seen here. There is some discrepancy on the data, particularly in the year built date, which is odd since all of the tax records clearly state the date built as 1981.

I’d like to make note that one of the reasons I started including type of financing and amount of down payment is because in previous Good Deal or Not (GDoN) comments, there has clearly been a range of understanding of current financing options. We’ve seen significant changes in the lending industry guidelines over the past couple of years, particularly in terms of higher down payment requirements for conventional loans, the disappearance of second trusts used as a financing strategy to avoid mortgage insurance, the increase in the use of FHA (Federal Housing Administration) loans, and the resurgence of the requirement for private mortgage insurance. Continues after the jump. (more…)

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