Real Estate

Good Deal or Not? Reader Request – Mini Rowhome Edition

By Prince Of Petworth

This home is located at 2245 12th Place, NW:


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The flier says:

“VERY UNIQUE 2BR, 1BA HOME ON QUIET TREE LINED ST JUST OFF U STREET CORRIDOR. INTERIOR FEATURES EXPOSED BRICK WALLS, LR W/ FPL W/ CUSTOM MASONRY SURROUND AND BUILT-INS, SEP DR, UPDATED KITCHEN. SKYLIGHT OVER STAIRWELL. GENEROUSLY SIZED MBR W/ GREAT CLOSETS, RENOVATED BATH & SPACIOUS 2ND BR W/ BALCONY. PRIV REAR PATIO. GARDEN. CALL TENANTS THE NIGHT B4 SHOW. A GREAT HOUSE WITH TERRIFIC CURB APPEAL.”

More info and a virtual tour found here.

I’m really a big fan of these small little hidden streets. So in addition to the price what do you think about the home itself? Do you dig the exposed brick? The asking price for this 2 bed 1 bath is $479,000. Given the location – reasonable?

Good Deal or Not? No Fracking Pictures Edition

By Prince Of Petworth

This home is located at 610 Upshur Street, NW:


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The flier says:

“REALLY NICE HOME NEAR PETWORTH METRORAIL AND ON BUS LINES. IN THE BEAT OF THE CITY WITH FOUR BEDROOMS ON UPPER LEVEL COUNTRY KITCHEN AND ROUGHED-IN THAT’S EASY TO FINISH.”

More info but no photos here.

I was curious about this house because it is a standalone. But I’m starting to get frustrated with listings that don’t have photos. So let me ask you, should I not post GDoN homes if photos aren’t available?

Well, for the curious, this home is going for $375,000. Do you think there is a premium because it is detached? It says there are 5 bedrooms and 2 bathrooms – does this sound like a reasonable price?

Good Deal or Not? Reader Request – Why Has It Been on the Market So Long?

By Prince Of Petworth

This home is located at 4847 Illinois Ave, NW:


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The flier says:

“large home five brs 3 full baths basement side porch off street park”

More info but sadly no photos found here.

The reader aks:

“The house at 4847 Illinois Ave., at corner with Emerson, that has been on the market for a long time (listed in August 2007 – pre-downturn!). Corner house, nice lot, appears to have basement apartment (which may have been one of those former house-dentistry offices). 5 bed/3 bath. A couple of very nice dogwoods blooming come spring time. No major crime issues in immediate area. What gives? Listed to high? Too big for most? And by the way, what are the “Property is on Farm” and “Soil Study Available” references on Redfin all about?”

The asking price for this home is $660,000. To answer the reader’s question I’d have to say the asking price is way too high. This location is a bit too far from the Petworth metro (in my opinion) to justify that price. Maybe if it was completely renovated (with historical touches intact) but the fact that there are no photos leads me to believe the home probably needs some updating. It’s also curious that the description is so brief. I think it’s a nice home with lots of potential but it is probably $150 – 200k overpriced. This price seems like serious bubble price. I think it’s no accident it has been on the market for 582 days. What do you guys think is a more realistic price?

I have no idea what the farm reference is about. Maybe they have an ant farm…

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 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: 529 Newton Pl NW

Original List Price: $189,000.

List Price at Contract: $189,000.

List Date: 12/03/2008

Days on Market: 59

Settled Sales Price: $165,000.

Settlement Date: 03/09/2009

Seller Subsidy: 0

Bank Owned?: YES

Type Of Financing: CASH

Recent Purchase and Re-Sale?: It’s complicated. See comments below.*

Original GDoN Post is: Here

Recent Listing:  Here. Continues after the jump. (more…)

Good Deal or Not? Converted Rowhome Into Condos Edition

By Prince Of Petworth

These condos are located at 3538 13th Street, NW:


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The flier for unit #4 says:

“Sophisticated renovation of grand Victorian semi-detached to four 2 BR, 2.5BA luxury condos. Unit 4feels like a house and boasts 1700 sq’incl 2 Master BRs w/ bas en suite, huge priv roof deck and balcony, chic kit open to huge entertaining sized lr/dr. Fab features incl. new inlaid hardwood flrs, coffered ceils, stunning BRs, w/ d. Pkg Avail. FHA app”

More info and a virtual tour found here.

Wow, it looks like a nice large open layout. It doesn’t seem to have too many original details. But is sure seems huge. So the price for this unit is $629,500. All of the units have 2 beds and 2.5 baths. Unit #3 is going for $549,500. Unit #2 is going for $529,500. And Unit #1 is going for $439,500. Any of these sound reasonable? What do you think of the renovations?

Good Deal or Not? Weekly Wed. House Porn Edition

By Prince Of Petworth

This house is located at 3103 Cathedral Ave., NW:


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The flier says:

“You can expect: 5 Lrg bdrms/4.5 spa-like bths, Stately center hall custom home. Chef’s Kit w/ Sub Zero/Viking/Granite/Cherry Cabs, Detchd 2 car Grge, Hrdwoods, Fenc’d yard, Mouldings galore, Lrg Windows, Cathedral views, Frnt prch, Spacious rooms, LRG DR, Walk-in’s/pantry, Finished basement, Wired for sound, W/ D, Xtra Fridge. NEWLY PRICED 200k REDUCTION!”

More info and photos found here.

With house porn posts I’m usually more interested to hear what you think about the house itself rather than the price but for this one I’m actually curious about the price. Even with the 200k reduction it is on the market for $2,299,500. And I gotta say, I wasn’t blown away by the photos. Does this price seem insanely high? I realize it is a big house in a prime location but my jaw didn’t drop at the photos. What do you guys think?

Good Deal or Not? Colorful Condo Walls Edition

By Prince Of Petworth

This condo is located at 1020 Fairmont Street, NW:


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The flier says:

“Wonderful top floor renovated 2 BR in smaller building. Great character with high ceilings, gleaming wd flrs, nice wood details, charming bath w/ claw-foot tub and subway tile, spacious kitchen w/ window and open to living room, nice window w/ great light and views, 4 closets, beaut building hallway with original tile, common patio w/ grill. Steps to retail, restaurants, & metro.”

More info and photos (including colorful walls) found here.

This 2 bed 1 bath is going for $359,000. How much of a premium would you give to living on the top floor? And I’m curious what you think of the color choices (I know they can easily be painted over but I’m still curious). If you think the price is not realistic what do you think it’ll go for?

Good Deal or Not? 2003 Pricing Edition

By Prince Of Petworth

This house is located at 4119 4th Street, NW:


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The flier says:

“NOT A SHORT SALE OR FORECLOSURE. Needs a few touches. Paint, pull up carpet, sand floors, minor repairs and move in. Finish renovate the kitchen and basement later. Make an offer.”

More info but sadly no photos found here.

Well, because there are no photos we’ll have to assume the place needs a bit of work. But even so, this reminds me of 2003 prices. It can be yours for $225,000. Sound reasonable?

Full disclosure: I live on this block. I’m not sure if that helps or hurts the value…

Good Deal or Not? Cool Condo Building Edition

By Prince Of Petworth

This condo is located at 436 M Street, NW:


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The flier says:

“PRICED BELOW ASSESSED VALUE! Amazing Space! Beautiful tri-level condo in well established 9 unit association. Over 2200 sq/ft. Feat. spacious living/dining area, huge kit, 2 large br, 1.5ba, full fin lower level, loads of storage + wonderful private yard. Pet friendly!”

More info and photos found here.

I think this is a really cool looking building. And the condo itself seems large and well done also. But it ain’t cheap – $589,000. Sound realistic? What do you think of the condo itself? I’m curious what you guys think of the kitchen floor?

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 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: 1457 S St NW

Original List Price: $899,000.

List Price at Contract: $849,000.

List Date: 12/31/2008

Days on Market: 29

Settled Sales Price: $849,000.

Settlement Date: 02/27/2009

Seller Subsidy: 0

Bank Owned?: No

Recent Purchase and Re-Sale?: Nope. Last sale was in 2001 for $250,000.

Original GDoN Post is: Here.

Recent Listing: Click here. For the virtual tour, make sure to click the film strip icon at the top left of the listing.

As I was perusing the sold GDoNs to identify today’s subject, I was struck that these recent settled sales did not show a substantial deviation from the list price. As I dig into these, I tend to find at least one price reduction. What is clear, however, is that right pricing gets the buyer in, and the number of settled sales is picking up.  Continues after the jump. (more…)

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