Real Estate

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…)

This condo is located at 1454 Belmont Street, NW:

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The flier says:

“Dramatic 40′ wall of glass giving a 180 * view of the city from Cap Dome to Wash Monument. Master BR Suite w/ Den + 2 more BRs. Open floor pl w/ HWF. Upgraded recessed lighting & sound system valued at over $30G. Gourmet Kit w/ huge marble penisula and wine fridge. Two balconies to view 4th of July. Garage parking. Two plasma TVs convey & sound sys that has zoned contols. .. This is must see unit.”

More info and photos found here.

Do you like the open floor plan? I’m loving all the windows. It’s yours for $1,095,000.

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: 1901 12th St NW

Original List Price: $645,000.

List Price at Contract: $645,000.

List Date: 11/02/2009

Days on Market: 10

Settled Sales Price: $650,000.

Settlement Date: 12/11/2009

Seller Subsidy: $0.

Bank Owned?: No

Type Of Financing: Conventional

Original GDoN Post is: here.

Recent Listing is: here. Virtual tour is here.

This was not a typical Good Deal or Not (GDoN) post in that it was already under contract by the time it was profiled. Given that it ultimately sold a tad over list price, it’s likely that there was more than one interested party. Listing agent Charlie Gaynor with City Houses notes that the property was renovated between 2000-2009, which suggests that it was an owner-occupant renovation rather than an investor rehab. I work with some great developers, so I certainly don’t dis all investor rehabs, but generally speaking, someone who is living in the property tends to invest a bit more on some of the finishes and appliances (note the sexy new steam dryer.)

The property was purchased last in 1999 for $113,000. with a $3000. credit towards closing costs. Ten years and a lot of work later, this relatively small end unit property with parking but no basement garnered a price reflective of significant changes in the neighborhood. For those of you left wondering how it compares to other recent sales in the neighborhood, here is a list of active listings, current pending sales, and settled sales within the past six months, within 1/3 mile from the subject property. (Note that active listings are in the first page or so. To see the settled sales prices, go to the later pages.)