This condo is located at 1118 Monroe St, NW:
The flier says:
“Welcome to this amazing 2 Level – 3 Bedroom & 2.5 Bath condo in the heart of Columbia Heights! This gorgeous 1,550sf home offers Gourmet Kitchen, Wood Floors, lots of closet space, Opt. gas fireplace, Deck, W/ D & parking for 2-3 Cars! Steps to Target, Restaurants, Metro & Shops!”
You can find more info here and photos here.
$579,900 ($150 monthly condo fee) sound right for this 3 bed/2.5 bath?
This house is located at 4401 7th St, NW:
The flier says:
“Fantastic space in this unique Petworth detached home. 5BR/Den/Family rooms give you tons of space not to mention the large living room and combo dining/open kitchen complete with granite/stainless. Tons of light from the large windows, front porch, rear balcony, and side yard/patio. HWF on main level and wood-burning FP. Enjoy a completely renovated home, ready to start living”
You can find more info here and photos here.
Lots of readers have been sending requests that we take a look at this one. Does $549,000 sound right for this 5 bed/3.5 bath?
This home is located at 1824 11th St, NW:
The flier says:
“AN ENTERTAINER’S DREAM IN THE U STREET CORRIDOR, Charming 1870 home with period details & modern conveniences. 2BR+den, 1.5 BAs, 11-ft. -hi ceilings, orig crown moldings, wide-plank pine flrs, pocket drs, exposed brick, wood-burning FP, Viking range, wine chiller, cutting-edge kitchen, dual zone HVAC, spacious slate patio plus gated pkg for two cars. Flat screen conveys.”
You can find more info here and photos here.
$799,900 sound right for this 3 bed/1.5 bath?
This home is located at 1921 2nd St, NW:
The flier says:
“Just Reduced 20K! Classic historic LeDroit Park Victorian semi detached townhouse. 4 finished levels & 2900+ sq ft. . Grand rooms. 4 bedrooms w/ 5th bedroom being used as den but easily usable for bedroom. 2.5 baths. Deep rear yard w/ room to put in off street pkg. Finished lower lvl. Property being sold “as-is.”
You can find more info here and a virtual tour here.
$660,000 sound right for this 5 bed/2.5 bath?
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: 500 M St NW #1
Legal Subdivision: Old City #2
Advertised Subdivision per Listing: Mt Vernon Square
Original List Price: $289,000.
List Price at Contract: $289,000.
List Date: 03/02/2011
Days on Market: 17
Settled Sales Price: $289,000.
Settlement Date: 05/05/2011
Seller Subsidy: $8,280.
Settled Price per Square Foot: $501.
Bank Owned?: No Short Sale? No
Type Of Financing: FHA
Original Good Deal or Not post is: here
The listing can be seen: here. Pics can be seen by clicking on the main photo and scrolling through using the arrows.
Despite being a large attractive end unit Victorian with a sexy round turret, 500 M St NW languished on the market for over 200 days with no takers. Oh yah…it was 1998. In 1998, the entire building was being offered for $219,900. Eventually, it sold in 1999 for $200,000.
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This home is located at 1731 Swann St, NW:
The flier says:
“Exquisite Dupont Circle Townhouse w/ beautiful historic architectural details. Updated amenities, traditional living & dining space w/ period fixtures. Sunny modern granite, SS Kit. Gracious ent & Stair Hall. Master suite w/ bath, fully renovated LL can be integral part of main house w/ additional BR BA, or perfect In-law suite. Lovely front Garden & Porch. Steps to everything on quiet tree lined st.”
You can find more info here and photos here.
$1,099,000 sound right for this 4 bed/3.5 bath?
This condo is located at 115 E St, SE:
The flier says:
“Fabulous Capitol Hill Location! Walk to Metro, parks, gyms, retaurants, House offices & more! 1BR/1BA unit has open layout w/ office nook, living rm w/ pass thru to kit, large windows, kit w/ gas cooking, spacious BR w/ bay window, generous closet space. Condo fee includes ALL utilities, secure storage unit conveys. Bldg is FHA approved.”
You can find more info here and photos here.
$265,000 ($373 monthly condo fee) sound right for this 1 bed/1bath?
This condo is located at 1918 18th St, NW:
The flier says:
“A Dupont//Adams Morgan Gem. Top floor 2-bedroom and 1-bath residence. Magnificent East and South facing views. Expansive living and dining room with a wood burning fireplace, gleaming hardwood floors, large radiant windows with spectacular views of the city, washer & dryer, and low monthly condo fee ($307.00). The boutique style building has a large roof top terrace. PETS ARE WELCOME.”
You can find more info here and a virtual tour here.
$469,000 (monthly condo fee $307) for this 2 bed/1 bath sound right?
This condo is located at 1001 East Capitol St, SE:
The flier says:
“Beautiful three level condo in 2-unit row house prominently sited on the southeast corner of 10th & East Capitol. Main level living room with hardwood floors and fireplace, open staircase, upper level MBR suite, lower level eat-in kitchen and guest suite. Lives like a single family home with professionally landscaped front yard and 1/2 block to Lincoln Park.”
You can find more info here and photos here.
This 2 bed/2 bath is going for $495,000. OK, what am I missing here? This seems like an insanely good deal. Am I blanking on something extremely obvious?
Across the street is a 2 bed/1 bath going for $449,000 (but it’s a lower level unit) photos here.
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: 1873 Monroe St NW
Legal Subdivision: Mount Pleasant
Advertised Subdivision per Listing: Mount Pleasant
Original List Price: $749,950.
List Price at Contract: $749,950.
List Date: 03/10/2011
Days on Market: 17
Settled Sales Price: $749,950.
Settlement Date: 05/25/2011
Seller Subsidy: $15,000.
Bank Owned?: No Short Sale? No
Type Of Financing: FHA (See below for more thoughts on financing and pricing of this property)
Original Good Deal or Not post is: here
The listing can be seen: here. The virtual tour can be seen here.
I don’t know if it was on purpose or not, but this home was priced just about 3.5% above the loan limit for FHA in the DC area for a single unit. Higher pricing would have potentially pushed this property out of the realm of FHA (which allows a 3.5% down payment) and potentially into Jumbo financing territory. True, a lot of buyers in this price range plan to make a substantial down payment. Considering that this home did go under contract in 17 days to an FHA buyer, it does, however, highlight how important it is to consider how financing options can affect pricing. These are especially crucial issues to consider as we are potentially facing a significant drop in the ceiling for conforming loan limits in October, which will affect both buyers and sellers.
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