Real Estate

In real life, hipchickindc is licensed as a real estate broker in the District of Columbia and Virginia, 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 Property: 3214 19th St NW

Original List Price: $984,500.

List Price at Contract: $984,500.

List Date: 02/20/2009

Days on Market: 8

Settled Sales Price: $961,500.

Settlement Date: 03/30/2009

Seller Subsidy: $0.

Bank Owned?: No.

Type Of Financing: Conventional

Listing History: Check out the “Before Rehab” pics! Open link and click camera icon. This was an estate sale in 2007 when it was a cash purchase for $552,000.

Original GDoN Post is: Here.

Recent Listing is: Check out the recent virtual tour here. (Move cursor around the floor plan to show different views).

For the most part, the Good Deal or Not (GDoN) comments were generally pretty kind. The pink exterior paint color took a hit and a few people seemed to expect something more out of the renovation to be priced this close to a million dollars. Uncharacteristically, nobody cited any crime incidents (yes, I know it’s Mount Pleasant, but I can think of a few).

The listing broker was Matt Spicer of Matthew Spicer Real Estate, and son of DC real estate investor legend, Jack Spicer. Over the past forty or so years, Jack has bought and sold over three thousand houses. Typically the Spicers pay cash, do a complete rehab, and then re-sell the property.

Despite being at this price point, the property attracted a tremendous amount of activity. Matt said that the Open House the first weekend was swamped. Rather than entertain multiple offers, he mentioned that, in this case, he was looking to work with the first good offer that came in. Ratification (full agreement of terms by all parties) happened within a scant eight days of closing and they ended up with several back up offers.

 

In real life, hipchickindc is licensed as a real estate broker in the District of Columbia and Virginia, 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 Property: 1318 Girard St NW

Original List Price: $615,000.

List Price at Contract: $599,000.

List Date: 01/09/2009

Days on Market: 76

Settled Sales Price: $602,000.

Settlement Date: 04/17/2009

Seller Subsidy: $18,000.

Bank Owned?: No.

Type Of Financing: Conventional

Listing History: Last sold in 2006 for $626,000. Before that in 2001 for $299,000. Before that for $77,200. in 1996.

Original GDoN Post is: Here.

Recent Listing is: Here.

Back when this was featured as a “Good Deal or Not” (GDoN) post, it was listed at $615,000. Per usual, commenters were not restrained in their concerns over neighborhood crime. I have to say that I’m honestly starting to wonder where all of the GDoN posters actually live, given that there seems to be a lot of random crime incidents happening all over lately.

One poster stated, “No one in their right mind would drop $600k to live on that block.” How about $584,000.? That was the net (less the hefty $18,000. closing cost subsidy). The home has central air, a deck, lots of parking, and a “self-contained unit” in the basement for potential rental income. The kitchen and baths don’t look all that fancy, but not in need of immediate replacement. The lot is about 700 square feet bigger than what I typically think of as a good-sized lot for a row house.

I’d say that this sale is reflective of the relatively limited active inventory in downtown DC. While prices have come down from where they had been, things are moving along pretty steadily.