Real Estate

Dear PoP – What’s the difference between Coop and Condo?

By Prince Of Petworth


Photo by PoPville flickr user Rukasu1

“Dear PoP,

I am a first time home buyer from the Ohio farm lands. I have living in DC for about 18 months and I am finally looking to buy a condo, but I have a question; what is the difference between a condo association and coop? I have not heard to much about either, so I would love to hear some experiences from the readers.”

I know folks have spoken about this before. Simply put, a condo is when you purchase your unit and a coop is when you purchase a “share” of the building. Does anyone know what the pros and cons are of purchasing a coop vs. a condo?

Good Deal or Not? “Remodeled Victorian” Edition

By Prince Of Petworth

This home is located at 612 R Street, NW:


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The flier says:

“Fully Remodeled Victorian TH with beautiful Rental English Basement Apt. getting $1500 monthly. All new interior with Exceptional Architecturl Details. Large room sized and Soaring Ceilings. MASTER BR HAS: 12FT Tray Ceiling, Super Bath with Whirlpool Tub & 2 Walk-In Closets. Fenced back yard, Patio & Deck.”

You can find more info and photos here.

I thought this was a pretty unique looking rowhouse from the outside. I had no idea it was totally renovated as well. What do you think of the renovation? My initial feeling is that the asking price is a bit too high for this location. Though given the size and the ability to rent out the basement does $939,000 sound reasonable?

Good Deal or Not? 2 bed/2 bath Condo Edition (Reader Request)

By Prince Of Petworth

This condo is located at 1102 R Street, NW:


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The flier says:

“THIS IS A 10! BRIGHT, SPACIOUS 2 BR/2 BA TOP FLOOR CORNER UNIT IN BEAUTIFUL CONDITION. HARDWOOD FLOORS, RECESSED LIGHTING, HANDSOME KITCHEN WITH SS APPLIANCES, LARGE CENTER ISLAND, GRANITE COUNTERTOPS, DESK AREA, W/ D. BEDROOMS HAVE BAY WINDOWS, W/ W CARPETING, CUSTOM SHADES. 6 UNIT BUILDING COMPLETELY RENOVATED IN 2005.”

You can find more info and photos here.

I think the photos look pretty nice but I was still a bit surprised at the asking price. Does $519,000 seem reasonable?

GDoN Revisited by Hipchickindc – 1505 Emerson St NW

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: 1505 Emerson St NW

Original List Price: $875,000.

List Price at Contract: $699,500.

List Date: 10/09/2009 and 8/26/2009

Days on Market: 178

Settled Sales Price: $699,500.

Settlement Date: 1/21/2010

Seller Subsidy: $0.

Bank Owned?: No

Type Of Financing: FHA

Original GDoN Post is: here.

Recent Listing is: here.

This detached 16th Street Heights property was featured as a Good Deal or Not (GDoN) in September, when it was listed at $725,000. A reader by the name of crin was the first to rightfully declare that the property would sell in the high $600’s. There was a bit of debate over the condition, but this is an absolutely immense house, with a wraparound porch, and a 10th of an acre lot (more than three times the size of downtown city lots, or twice the size of a big Petworth lot), and it’s not far from Rock Creek Park. Transfer history shows the prior sale in 1998 at $308,500., and at $290,000. in 1992.

16th Street Heights is a tricky neighborhood to price given the range in the size of houses, condition, and, of course, location. For buyers seeking detached houses, it’s a great spot to be looking, especially for brave souls interested in taking on a few home improvement projects. Currently, there are detached homes on the market in this neighborhood ranging from just under $400,000. to over $1,000,000. The highest price paid for a detached single family house in 16th Street Heights in 2009 was $815,000. Somebody got a steal of a deal on a foreclosure on 13th Street NW back in March ’09 for $190,000.

Here are all of the sold listings from 2009 for detached single family houses in 16th Street Heights, as well as current active and pending sales, ordered from lowest to highest list price.

Good Deal or Not? Renovated Rowhouse in Petworth

By Prince Of Petworth

This home is located at 4125 4th Street, NW:


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The flier says:

“Gorgeous urban renovation, tastfully completed. Recess lighting, crown molding, exposed brick, granite kitch + bath, lots of storage (incl. attic), mudd room and bonus room on main lvl. New windows, double deck and two car parking w/ plenty of street prkg. Proximity to metro trasport/downtown/restaurants/shopping a plus.”

You can find more info and photos here.

Wow, I’m pretty impressed with the photos. I had no idea it looked like this on the inside. Full disclosure: I live nearby, not sure how much that drags down the price… So what do you think of the photos? Does $409,500 sound reasonable for this 3 bed/2 bath?

Good Deal or Not? Weekly Wed. House Porn – Reader Request

By Prince Of Petworth

This home is located at 804 East Capitol Street, NE:


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The flier says:

“Federal-style home tastefully enlarged to include four bedrooms, 3.5 baths, family room, master bedroom and au-pair suites, to meet needs of today’s lifestyle. Classic architectual details remain. Sited on a deep lot, provides space for a formal garden, garage, attached greenhouse & additional parking. Close to Eastern Market, Metro and the Capitol.”

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

I have to give props to the reader for finding this one. I don’t know if it is my love of books but this is one of my favorite house porn posts. I suppose parts of it are a bit too museum like for me but overall this one blew me away. What do you think of the home itself? It’s yours for $2,100,000.

Good Deal or Not? “renovation worthy of Architectural Digest” Edition

By Prince Of Petworth

This home is located at 3047 N Street, NW:


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The fliers says:

“Gorgeous C. Zapatka designed renovation worthy of Architectural Digest. Three levels of exquisite in-town living. Flagstone patios and gardens in front and back. Elegantly sited and recessed back from the streets. Two blocks to Wisconsin Ave. Three bedrooms and two a half baths.”

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

I know I should probably have waited for tomorrow’s house porn post but I couldn’t wait, I was so intrigued with this house. I was most taken by how skinny it is and was curious what the inside looked like. What do you think about the home itself? Think it is worthy of Architectural Digest? It’s yours for $1,329,000.

Good Deal or Not? Three Bed Condo Edition

By Prince Of Petworth

This home is located at 1218 Girard Street, NW:


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The flier says:

“2 Brand new units! 2 lvls each w/ 3 spacious BRs & 3 BAs, modern kitchens w/ marble cntrs, custom cherry/espresso cabs, SS apps, bamboo hdwds, beautiful limestone baths, walk-in closets, built in sound system w/ IPOD docking stations, gas fireplcs, parking & decks off every floor! 1-$565,000 (model unit), 2-$635,000. Seller selects closing co.”

You can find more info and photos here.

I haven’t seen a three bedroom unit in a while. What do you think of the condo itself? Does $565,000 sound reasonable?

GDoN Revisited by Hipchickindc Plus a Look at Mt. P Real Estate Trends

By Prince Of Petworth


1623 Monroe St NW

Featured Properties: 1623 Monroe St NW and 1612 Newton St NW

Original List Price: $499,000. and $529,000.

List Price at Contract: $499,000. and $499,000.

List Date: 10/09/2009 and 8/26/2009

Days on Market: 4 and 51

Settled Sales Price: $495,000. and $476,000.

Settlement Date: 11/30/2009 and 10/30/2009

Seller Subsidy: $0. in both cases

Bank Owned?: No and No

Type Of Financing: Conventional conforming ($417k or less financed) in both cases

Original GDoN Post is: here for 1623 Monroe St NW and here for 1612 Newton St NW.

Recent Listings are: here.

I know, I did Mount Pleasant last week for Good Deal or Not Revisited (GDoN-R), but there were some issues with the formatting for the ten years of data I compiled, so I thought I’d try again. These two houses were one block from each other, and both on the smallish side, neither with central air, and both ultimately priced the same. Comments on both original GDoN posts complained about the size of both properties and debated the desirability of the location.

What I tried to post last week was a ten year overview of sales data for houses (did not include condos) in Mount Pleasant. The data is not surprising but I think it shows an interesting overall perspective. We see a peak in average sales price in 2005, and as recently as 2007, the average sale was above list price. In 2008, Buyers had a little bit more negotiating room as the average property sold approximately 7% below list price. 2009 Buyers didn’t get to negotiate as much, but it looks like Sellers became somewhat more accommodating in their pricing, since the average sale price was down more than $20,000. Click here to see the report.

Good Deal or Not? “Dynamite brownstone duplex” Edition

By Prince Of Petworth

This home is located at 1312 P Street, NW:


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The flier says:

“Dynamite brownstone duplex in turn-key condition, fabulously located in the heart of Logan Circle. Living room w fireplace, sep dining room, kitchen w granite, + pwdr room & coat closet on main level. Two master suites on 2nd! Great exterior entertaining space. You’ll never need a car again.”

You can find more info and photos here.

I think I’ve featured this house as HoTD before so it’s pretty sweet to see some inside photos. What do you think of this duplex? Does $595,000 sound reasonable for this 2 bed/2.5 bath?

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