Hipchickindc is a licensed real estate broker and a professional artist. Her official real estate bio is here and her art website is here. 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: 3624 New Hampshire Ave NW
Legal Subdivision: Columbia Heights
Advertised Subdivision per Listing: Columbia Heights
Original List Price: $515,000.
List Price at Contract: $515,000.
List Date: 07/09/2011
Days on Market: 13
Settled Sales Price: $505,000.
Settlement Date: 08/19/2011
Seller Subsidy: $7,000.
Bank Owned?: No Short Sale? No
Type Of Financing: Conventional
Original Good Deal or Not post is: here
The 2008 GDoN Edition for this home can be seen: here.
The listing can be seen: here. Pics can be seen by clicking through the arrows on the main pic after opening the listing link.
I believe this may be our first example of a home that has withstood not one, but two go arounds as a Good Deal or Not (GDoN) subject*. PoP noted that the listing description on the 2008 listing was nearly identical to the 2011 listing, which makes some sense, since it was the same agent. Same agent, however, it’s important to note that 2011 is a much different real estate climate than 2008. Subsequently, what looks like pretty much the same listing in 2008 was withdrawn after 35 days on the market and a price reduction to $504,000. In 2011, it’s not a surprise that a house this close to Metro, busy street or not, was under contract in less than two weeks.
Not even taking into consideration the decrease in active listing inventory in downtown DC since 2008, the immediate area has seen a significant increase in commercial development between 2008 and 2011. There are few pockets of DC left that are relatively close in to downtown and on top of Metro. The Georgia Avenue corridor has recently seen quite a bit of property purchased by developers, with numerous moderately priced condo projects planned or in process.
Continues after the jump. (more…)
